Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information | |
Entity Registrant Name | BANCO SANTANDER CHILE |
Entity Central Index Key | 0001027552 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Shell Company | false |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | true |
Entity Common Stock, Shares Outstanding | 0 |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Interactive Data Current | Yes |
Entity Incorporation, State or Country Code | F3 |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 1-14554 |
Entity Ex Transition Period | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and deposits in banks | $ 3,554,520 | $ 2,065,441 |
Cash items in process of collection | 355,062 | 353,757 |
Financial derivative contracts | 8,148,608 | 3,100,635 |
Financial assets held for trading | 270,204 | 77,041 |
Loans and account receivable at amortised cost | 31,775,420 | 29,331,001 |
Loans and account receivable at fair value through other comprehensive income | 66,065 | 68,588 |
Debt instrument at fair value through other comprehensive income | 4,010,272 | 2,394,323 |
Equity instruments at fair value through other comprehensive income | 482 | 483 |
Investments in associates and other companies | 10,177 | 32,003 |
Intangible assets | 73,389 | 66,923 |
Property, plant, and equipment | 252,346 | 253,586 |
Right of use assets | 155,987 | |
Current taxes | 11,648 | |
Deferred taxes | 451,388 | 397,515 |
Other assets | 1,439,146 | 991,216 |
TOTAL ASSETS | 50,574,714 | 39,132,512 |
LIABILITIES | ||
Deposits and other demand liabilities | 10,297,432 | 8,741,417 |
Cash items in process of being cleared | 198,248 | 163,043 |
Obligations under repurchase agreements | 380,055 | 48,545 |
Time deposits and other time liabilities | 13,192,817 | 13,067,819 |
Financial derivative contracts | 7,390,654 | 2,517,728 |
Interbank borrowings | 2,519,818 | 1,788,626 |
Issued debt instruments | 9,500,723 | 8,115,233 |
Other financial liabilities | 226,358 | 215,400 |
Lease liabilities | 158,494 | |
Current taxes | 8,093 | |
Deferred taxes | 99,157 | 15,470 |
Provisions | 326,130 | 305,271 |
Other liabilities | 2,806,325 | 900,407 |
TOTAL LIABILITIES | 47,096,211 | 35,887,052 |
Attributable to the shareholders of the Bank: | ||
Capital | 891,303 | 891,303 |
Reserves | 2,122,742 | 1,923,022 |
Valuation adjustments | (8,856) | 11,353 |
Retained earnings | ||
Retained earnings from prior years | (39,683) | (43,114) |
Income for the year | 619,091 | 595,333 |
Minus: Provision for mandatory dividends | (185,727) | (178,600) |
Retained earnings | 393,681 | 373,619 |
Attributable to the shareholders of the Bank | 3,398,870 | 3,199,297 |
Non-controlling interest | 79,633 | 46,163 |
TOTAL EQUITY | 3,478,503 | 3,245,460 |
TOTAL LIABILITIES AND EQUITY | $ 50,574,714 | $ 39,132,512 |
Consolidated Statements of Inco
Consolidated Statements of Income - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING INCOME | |||
Interest income | $ 2,321,381 | $ 2,244,317 | $ 2,058,446 |
Interest expense | (904,417) | (829,949) | (731,755) |
Net interest income | 1,416,964 | 1,414,368 | 1,326,691 |
Fee and commission income | 498,658 | 484,463 | 455,558 |
Fee and commission expense | (211,572) | (193,578) | (176,495) |
Net fee and commission income | 287,086 | 290,885 | 279,063 |
Net income (expense) from financial operations | (78,165) | 53,174 | 2,796 |
Net foreign exchange gain | 279,857 | 51,908 | 126,956 |
Other operating income | 13,001 | 23,129 | 62,016 |
Net operating profit before provision for loan losses | 1,918,743 | 1,833,464 | 1,797,522 |
Provision for loan losses | (323,311) | (317,408) | (302,255) |
NET OPERATING INCOME | 1,595,432 | 1,516,056 | 1,495,267 |
Personnel salaries and expenses | (410,157) | (397,564) | (396,967) |
Administrative expenses | (233,612) | (245,089) | (230,103) |
Depreciation and amortization | (106,092) | (79,280) | (77,823) |
Impairment of property, plant, and equipment | (2,726) | (39) | (5,644) |
Other operating expenses | (49,303) | (32,342) | (68,413) |
Total operating expenses | (801,890) | (754,314) | (778,950) |
OPERATING INCOME | 793,542 | 761,742 | 716,317 |
Income from investments in associates and other companies | 1,146 | 1,324 | 1,144 |
Income from continuing operations before tax | 794,688 | 763,066 | 717,461 |
Income tax expense | (175,074) | (167,144) | (145,031) |
Result of continuing operations | 619,614 | 595,922 | 572,430 |
Result of discontinued operations | 1,699 | 3,771 | 2,819 |
NET INCOME FOR THE YEAR | 621,313 | 599,693 | 575,249 |
Attributable to: | |||
Shareholders of the Bank | 619,091 | 595,333 | 562,801 |
Non-controlling interest | $ 2,222 | $ 4,360 | $ 12,448 |
Earnings per share from continued operations attributable to shareholders of the Bank: | |||
Basic earnings | $ 3.276 | $ 3.139 | $ 2.975 |
Diluted earnings | 3.276 | 3.139 | 2.975 |
Earnings per share from discontinued operations attributable to shareholders of the Bank: | |||
Basic earnings | 0.009 | 0.02 | 0.015 |
Diluted earnings | 0.009 | 0.02 | 0.015 |
Earnings per share attributable to shareholders of the Bank : | |||
Basic earnings | 3.285 | 3.159 | 2.987 |
Diluted earnings | $ 3.285 | $ 3.159 | $ 2.987 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated Statements Of Comprehensive Income | |||
NET INCOME FOR THE YEAR | $ 621,313 | $ 599,693 | $ 575,249 |
Equity instruments at fair value through other comprehensive income | (1) | (113) | |
Income tax related to the above | 31 | ||
Total items that will not be reclassified to the income statements | (1) | (82) | |
Other comprehensive income that will be reclassified to profit or loss | |||
Debt instruments at fair value through other comprehensive income | 22,223 | 4,826 | |
Available for sale financial assets | (5,520) | ||
Cash flow hedge | (50,238) | 13,365 | (5,850) |
Income tax related to the above | 7,618 | (4,903) | 2,754 |
Total items that will be reclassified to the income statements | (20,397) | 13,288 | (8,616) |
Other comprehensive income for the year, net of tax | (20,398) | 13,206 | (8,616) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 600,915 | 612,899 | 566,633 |
Attributable to: | |||
Shareholders of the Bank | 598,693 | 608,623 | 553,849 |
Non-controlling interests | $ 2,222 | $ 4,276 | $ 12,784 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CLP ($) $ in Millions | Capital | Reserves and other retained earnings | Effects of merger of companies under common control | Fair value reserve | Cash flow hedge | Income tax effects | Retained earnings of prior years | Income for the year | Provision for mandatory dividends | Total attributable to shareholders of the Bank | Non-controlling interest | Total |
Equity at beginning at Dec. 31, 2016 | $ 891,303 | $ 1,642,336 | $ (2,224) | $ 6,449 | $ 2,288 | $ (2,097) | $ 37,551 | $ 476,067 | $ (142,815) | $ 2,908,858 | $ 29,341 | $ 2,938,199 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 476,067 | (476,067) | ||||||||||
Equity at beginning at Dec. 31, 2016 | 891,303 | 1,642,336 | (2,224) | 6,449 | 2,288 | (2,097) | 513,618 | (142,815) | 2,908,858 | 29,341 | 2,938,199 | |
Changes in equity [Roll Forward] | ||||||||||||
Dividends distributions/ withdrawals made | (330,645) | 142,815 | (187,830) | (242) | (188,072) | |||||||
Transfer of retained earnings to reserves | 141,706 | (141,706) | ||||||||||
Provision for mandatory dividends | (168,840) | (168,840) | (168,840) | |||||||||
Subtotal | 141,706 | (472,351) | (26,025) | (356,670) | (242) | (356,912) | ||||||
Other comprehensive income | (5,990) | (5,850) | 2,888 | (8,952) | 336 | (8,616) | ||||||
Result of continuous operations | 559,982 | 559,982 | 12,448 | 572,430 | ||||||||
Result of discontinuous operations | 2,819 | 2,819 | 2,819 | |||||||||
Subtotal | (5,990) | (5,850) | 2,888 | 562,801 | 553,849 | 12,784 | 566,633 | |||||
Equity at ending at Dec. 31, 2017 | 891,303 | 1,784,042 | (2,224) | 459 | (3,562) | 791 | 41,267 | 562,801 | (168,840) | 3,106,037 | 41,883 | 3,147,920 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 562,801 | (562,801) | ||||||||||
Equity at beginning at Dec. 31, 2017 | 891,303 | 1,784,042 | (2,224) | 459 | (3,562) | 791 | 604,068 | (168,840) | 3,106,037 | 41,883 | 3,147,920 | |
Changes in equity [Roll Forward] | ||||||||||||
Impact of adopting IFRS 9 | 394 | (19) | (82,367) | (81,992) | (81,992) | |||||||
Restated opening balance under IFRS 9 | 891,303 | 1,784,042 | (2,224) | 853 | (3,562) | 772 | 521,701 | (168,840) | 3,024,045 | 41,883 | 3,065,928 | |
Dividends distributions/ withdrawals made | (423,611) | 168,840 | (254,771) | 4 | (254,767) | |||||||
Transfer of retained earnings to reserves | 141,204 | (141,204) | ||||||||||
Provision for mandatory dividends | (178,600) | (178,600) | (178,600) | |||||||||
Subtotal | 141,204 | (564,815) | (9,760) | (433,371) | 4 | (433,367) | ||||||
Other comprehensive income | 4,799 | 13,365 | (4,874) | 13,290 | (84) | 13,206 | ||||||
Result of continuous operations | 591,563 | 591,563 | 4,360 | 591,563 | ||||||||
Result of discontinuous operations | 3,770 | 3,770 | 3,770 | |||||||||
Subtotal | 4,799 | 13,365 | (4,874) | 595,333 | 608,623 | 4,276 | 612,899 | |||||
Equity at ending at Dec. 31, 2018 | 891,303 | 1,925,246 | (2,224) | 5,652 | 9,803 | (4,102) | (43,114) | 595,333 | (178,600) | 3,199,297 | 46,163 | 3,245,460 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 595,333 | (595,333) | ||||||||||
Equity at beginning at Dec. 31, 2018 | 891,303 | 1,925,246 | (2,224) | 5,652 | 9,803 | (4,102) | 552,219 | (178,600) | 3,199,297 | 46,163 | 3,245,460 | |
Changes in equity [Roll Forward] | ||||||||||||
Purchase of Santander Consumer S.A. | (37,041) | (37,041) | 31,437 | (5,604) | ||||||||
Dividends distributions/ withdrawals made | (355,141) | 178,600 | (176,541) | (176,541) | ||||||||
Transfer of retained earnings to reserves | 236,761 | (236,761) | ||||||||||
Provision for mandatory dividends | (185,727) | (185,727) | (185,727) | |||||||||
Subtotal | 199,720 | (591,902) | (7,127) | (399,309) | 31,437 | (367,872) | ||||||
Other comprehensive income | 22,483 | (50,238) | 7,546 | (20,209) | (189) | (20,398) | ||||||
Result of continuous operations | 617,392 | 617,392 | 2,222 | 619,614 | ||||||||
Result of discontinuous operations | 1,699 | 1,699 | 1,699 | |||||||||
Subtotal | 22,483 | (50,238) | 7,546 | 619,091 | 598,882 | 2,033 | 600,915 | |||||
Equity at ending at Dec. 31, 2019 | $ 891,303 | $ 2,124,966 | $ (2,224) | $ 28,135 | $ (40,435) | $ 3,444 | $ (39,683) | $ 619,091 | $ (185,727) | $ 3,398,870 | $ 79,633 | $ 3,478,503 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of changes in equity [abstract] | |||
Total attributable to shareholders of the Bank | $ 591,902 | $ 564,815 | $ 472,351 |
Allocated to reserves | 236,761 | 141,204 | 141,706 |
Allocated to dividends | $ 355,141 | $ 423,611 | $ 330,645 |
Percentage distributed | 60.00% | 75.00% | 70.00% |
Number of shares | 188,446,126,791 | 188,446,126,794 | 188,446,126,794 |
Dividend per share (in pesos) | $ 1.885 | $ 2.248 | $ 1.755 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
A - CASH FLOWS FROM OPERATING ACTIVITIES | |||
NET INCOME FOR THE YEAR | $ 621,313 | $ 599,693 | $ 575,249 |
Adjustments for non-cash items included in net income | (1,119,126) | (1,266,270) | (1,198,330) |
Depreciation and amortization | 106,092 | 79,280 | 77,823 |
Impairment of property, plant, and equipment | 2,726 | 39 | 5,644 |
Provision for loan losses | 406,024 | 405,889 | 385,782 |
Mark to market of trading investments | 39,997 | 1,438 | 1,438 |
Income from investments in associates and other companies | (1,146) | (5,095) | (3,962) |
Net gain on sale of assets received in lieu of payment | (5,613) | (7,106) | (3,330) |
Provision on assets received in lieu of payment | 1,809 | 816 | 3,912 |
Loss on sale of associate | 126 | ||
Net gain on sale of property, plant and equipment | (2,456) | (2,490) | (23,229) |
Net interest income | (1,416,964) | (1,414,368) | (1,326,691) |
Net fee and commission income | (287,086) | (290,885) | (279,063) |
Other non-cash items | (67) | (8,271) | (29,903) |
Changes in deferred taxes | 37,432 | (25,517) | (6,751) |
Increase/decrease in operating assets and liabilities | 2,346,978 | 1,689,069 | 206,725 |
(Increase) of loans and accounts receivables from customers, net | (2,449,954) | (2,703,700) | (629,605) |
Decrease (increase) of financial investments | (1,809,112) | 588,918 | 725,611 |
Decrease (increase) of interbank loans | 232 | 147,534 | 110,036 |
Decrease of assets received or awarded in lieu of payment | (1,473) | 722 | 4,125 |
Increase of debits in customers checking accounts | 1,298,976 | 521,476 | 127,968 |
(Decrease) increase of time deposits and other time liabilities | 124,998 | 1,153,874 | (1,237,764) |
Increase (decrease) of obligations with domestic banks | 271,620 | (480) | (364,956) |
Increase (decrease) of other demand liabilities or time obligations | 257,039 | 451,775 | 100,883 |
Increase of obligations with foreign banks | 459,572 | 90,754 | 146,947 |
(Decrease) increase of obligations with Central Bank of Chile | (5) | (2) | |
(Decrease) increase of obligations under repurchase agreements | 331,510 | (219,516) | 55,624 |
Increase (decrease) in other financial liabilities | 10,958 | (26,630) | 2,014 |
(Decrease) increase of other assets and liabilities | 982,760 | (872,264) | (151,544) |
Redemption of letters of credit | (6,988) | (8,989) | (11,772) |
Senior bond issuances | 1,893,552 | 1,156,057 | 911,581 |
Redemption of mortgage bonds and payments of interest | (6,109) | (5,911) | (5,736) |
Redemption of senior bonds and payments of interest | (714,783) | (289,837) | (1,167,656) |
Redemption of subordinated bonds and payments of interest | (14,899) | ||
Interest received | 2,321,381 | 2,244,317 | 2,058,446 |
Interest paid | (904,417) | (829,949) | (731,755) |
Dividends received from investments in other companies | 130 | 38 | 116 |
Fees and commissions received | 498,658 | 484,463 | 455,558 |
Fees and commissions paid | (211,572) | (193,578) | (176,495) |
Total cash flow (used in) provided by operating activities | 1,849,165 | 1,022,492 | (416,357) |
B - CASH FLOWS FROM INVESTMENT ACTIVITIES: | |||
Purchases of property, plant, and equipment | (50,969) | (68,329) | (58,771) |
Sales of property, plant, and equipment | 8,666 | 6,297 | 17,939 |
Sales of investments in associates | 1,930 | ||
Purchases of investments in associates and other companies | (62,136) | (3) | |
Purchases of intangible assets | (32,860) | (29,563) | (32,624) |
Total cash flow used in investment activities | (135,369) | (91,565) | (73,459) |
C - CASH FLOW FROM FINANCING ACTIVITIES: | |||
From shareholders' financing activities | (355,141) | (423,611) | (330,645) |
Dividends paid | (355,141) | (423,611) | (330,645) |
Lease obligation paid | (30,145) | ||
Total cash flow used in financing activities | (385,286) | (423,611) | (330,645) |
D - NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS DURING THE YEAR | 1,328,510 | 507,316 | (820,460) |
E - EFFECTS OF FOREIGN EXCHANGE RATE FLUCTUATIONS | 126,669 | 114,498 | (31,398) |
F - INITIAL BALANCE OF CASH AND CASH EQUIVALENTS | 2,256,155 | 1,634,341 | 2,486,199 |
FINAL BALANCE OF CASH AND CASH EQUIVALENTS | 3,711,334 | 2,256,155 | 1,634,341 |
Provision for loan losses for cash flow purposes | 406,024 | 405,889 | 385,782 |
Recovery of loans previously charged off | (82,713) | (88,481) | (83,527) |
Provision for loan losses - net | $ 323,311 | $ 317,408 | $ 302,255 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flow (Parenthetical) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | $ 795,957 |
Cash flow | (385,286) |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Inflation effect | 22,127 |
Fair value changes | |
Balance as of ending | 432,798 |
Paid Dividend [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | |
Cash flow | (355,414) |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Inflation effect | |
Fair value changes | |
Balance as of ending | (355,141) |
Other Liabilities [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | |
Cash flow | (30,145) |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Inflation effect | |
Fair value changes | |
Balance as of ending | (30,145) |
Subordinated Bonds [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | 795,957 |
Cash flow | |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Inflation effect | 22,127 |
Fair value changes | |
Balance as of ending | $ 818,084 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Summary Of Significant Accounting Policies | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 01 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CORPORATE INFORMATION Banco Santander-Chile is a banking corporation (limited company) operating under the laws of the Republic of Chile, headquartered at Bandera N°140, Santiago. The corporation provides a broad range of general banking services to its customers, ranging from individuals to major corporations. Banco Santander-Chile and its subsidiaries (collectively referred to herein as the "Bank" or "Banco Santander-Chile") offers commercial and consumer banking services, including (but not limited to) factoring, collection, leasing, securities and insurance brokering, mutual and investment fund management brokering, and investment banking. Banco Santander Spain controls Banco Santander-Chile through its holdings in Teatinos Siglo XXI Inversiones Ltda. and Santander Chile Holding S.A., which are controlled subsidiaries of Banco Santander Spain. As of December 31, 2019 Banco Santander Spain owns or controls directly and indirectly 99.5% of Santander Chile Holding S.A. and 100% of Teatinos Siglo XXI Inversiones Ltda. Banco Santander Spain,through its subsidiaries, has control over 67.18% of the Bank's shares. a) Basis of preparation These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) (hereinafter referred to as IFRS). For purposes of these financial statements we use certain terms and conventions. References to "US$", "U.S. dollars" and "dollars" are to United States dollars, references to "EUR" are to European Economic Community Euro, references to "CNY" are to Chinese Yuan, reference to "JPY" are to Japanese Yuan, references to "CHF" are to Swiss franc, references to "Chilean pesos", "pesos" or "Ch$" are to Chilean pesos, and references to "UF" are to Unidades de Fomento. The UF is an inflation-indexed Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the official Consumer Price Index ("CPI") of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The UF is revalued in monthly cycles. Each day in the period beginning on the tenth day of the current month through the ninth day of the succeeding month, the nominal peso value of the UF is indexed up (or down in the event of deflation) in order to reflect a proportionate amount of the change in the Chilean Consumer Price Index during the prior calendar month. One UF is equaled to Ch$28,309.94 as of December 31, 2019 and Ch$27,565.79 as of December 31, 2018. In 2019, UF inflation was 2.7% compared to 2.9% in 2018. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense, respectively. The Notes to the Consolidated Financial Statements contain additional information to support the figures submitted in the Consolidated Statements of Financial Position, Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity and Consolidated Statements of Cash Flows for the period. b) Basis of preparation for the Consolidated Financial Statements The Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017, incorporate the financial statements of the entities over which the Bank has control (including structured entities); and includes the adjustments, reclassifications and eliminations needed to comply with the accounting and valuation criteria established by IFRS. Control is achieved when the Bank: I. has power over the investee; II. is exposed, or has rights, to variable returns from its involvement with the investee; and III. has the ability to use its power to affect its returns. The Bank reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Bank has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities over the investee unilaterally. The Bank considers all relevant facts and circumstances in assessing whether or not the Bank's voting rights in an investee are sufficient to give it power, including: ● the size of the Bank's holding of voting rights relative to the size and dispersion of holdings of the other vote holders; ● potential voting rights held by the Bank, other vote holders or other parties; ● rights arising from other agreements; and ● 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 that decisions need to be made, including voting patterns at previous shareholders' meetings. Consolidation of a subsidiary begins when the Bank obtains control over the subsidiary and ceases when the Bank loses control over the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the Consolidated Statements of Income and Comprehensive Income from the date the Bank gains control until the date when the Bank ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owners of the Bank and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Bank and to the non-controlling interests even if this results in the non-controlling interests having a deficit in certain circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to ensure their accounting policies are consistent with the Bank's accounting policies. All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between consolidated entities are eliminated in full on consolidation. Changes in the consolidated entities ownership interests in subsidiaries that do not result in a loss of control over the subsidiaries are accounted for as equity transactions. The carrying values of the Bank's equity and the non-controlling interests' equity are adjusted to reflect the changes to their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Bank. In addition, third parties' shares in the Bank's consolidated equity are presented as "Non-controlling interests" in the Consolidated Statements of Changes in Equity. Their share in the income for the year is presented as "Attributable to non-controlling interest" in the Consolidated Statements of Income. The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Percent ownership share Place of As of December 31, Incorporation 2019 2018 2017 Name of the Main and Direct Indirect Total Direct Indirect Total Direct Indirect Total Subsidiary Activity operation % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Asesorias Financieras Limitada (1) Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 Klare Corredora de Seguros S.A. (2) Insurance brokerage Santiago, Chile 50.10 - 50.10 - - - - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 - - - - - - The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 25– Non-controlling interest. (1) On December 18, 2019, Santander Agente de Valores Limitada changes its business name and the company's object, to Santander Asesorías Financieras Limitada, and offering financial advice. (2) On October 19, 2019 Klare Corredora de Seguros S.A. was created as a digital insurance brokerage, and supporting banking business company and thus subject to banking regulations. The Banks owns the 50,10% of the company's capital share. (3) On November 15, 2019, Financial Market Commission (FMC) authorized Banco Santander to acquire the 51% of the Santander Consumer Chile S.A. capital share from SK Berge (49%) and Banco Santander S.A. (2%). The sale was completed on November 27, 2019. ii. Entities controlled by the Bank through other considerations The following companies have been consolidated based on the determination that the Bank has control as previously defined above and in accordance with IFRS 10, Consolidated Financial Statements - Santander Gestión de Recaudación y Cobranza Limitada (collection services) - Bansa Santander S.A. (financing revolving inventory lines to automotive dealers) (1) - Multiplica SpA (Development card incentive programs) (2) (1) Since December 2019, Bansa Santander S.A.("Bansa") modified it activity from management of repossessed assets and leasing of properties to financing revolving inventory lines to automotive dealers. Accordingly, Consumer has started to guide relevant activities of Bansa, and therefore it has begun to consolidate. (2) On October 4, 2019 Multiplica Spa was created as a supporting banking business company. In accordance with IFRS 10 Consolidated Financial Statement, the Bank controls the entity, since the relevant activities are addressed by the Bank, and the Bank is exposed, or has rights, to variable returns from its involvement with the investee. iii. Associates An associate is an entity over which the Bank has significant influence. Significant influence, in this case, is defined as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. The following companies are considered "Associates" in which the Bank accounts for its participation using the equity method: Percentage of ownership share Place of As of December 31, Incorporation and 2019 2018 2017 Associates Main activity operation % % % Redbanc S.A. (*) ATM services Santiago, Chile - 33.43 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 15.00 15.00 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. (*) Credit card processor Santiago, Chile - 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.48 12.48 12.48 (*) The Bank is in process to sell its share participation on Redbanc S.A., Transbank S.A. and Nexus S.A., therefore it has applied IFRS 5 Non-current Assets Held for Sale and Discontinued Operations over its participations share. As of December 31, 2019, the Bank has sold 85% of its share participation in Nexus S.A. See Note N°39. In the case of Cámara Compensación de Pagos Alto Valor S.A., Banco Santander-Chile has a representative on the Board of Directors. As per the definition of associates, the Bank has concluded that it exerts significant influence over those entities. In the case of Servicios de Infraestructura de Mercado OTC S.A.The Bank participates, through its executives, actively in the administration and in the process of organization, which is why the Administration has concluded that it exerts significant influence on it. c) Non-controlling interest Non-controlling interest represents the portion of net income and net assets which the Bank does not own, either directly or indirectly. It is presented as "Attributable to non-controlling interest" separately in the Consolidated Statements of Income, and separately from shareholders' equity in the Consolidated Statements of Financial Position. In the case of entities controlled by the Bank through other considerations, income and equity are presented in full as non-controlling interest, since the Bank controls them, but does not have any ownership expressed as a percentage. d) Reporting segments Operating segments are components of an entity: i. that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses from transactions with other components of the same entity); ii. whose operating results are regularly reviewed by the entity's chief executive officer, who makes decisions about resources allocated to the segment and assess its performance; and iii. for which discrete financial information is available. Two or more segments can be combined only if aggregation is consistent with International Financial Reporting Standard 8 "Operating Segments" (IFRS 8) and the segments have similar economic characteristics and are similar in each of the following respects: i. the nature of the products and services; ii. the nature of the production processes; iii. the type or class of customers that use their products and services; iv. the methods used to distribute their products or services; and v. if applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities. The Bank reports separately on each operating segment that exceeds any of the following quantitative thresholds: i. its reported revenue, from both external customers and intersegment sales or transfers, is 10% or more of the combined internal and external revenue of all the operating segments. ii. the absolute amount of its reported profit or loss is 10% or more of the greater in absolute amount of: (i) the combined reported profit of all the operating segments that did not report a loss; (ii) the combined reported loss of all the operating segments that reported a loss. iii. its assets represent 10% or more of the combined assets of all the operating segments. Operating segments that do not meet any of the quantitative threshold may be treated as segments to be reported, in which case the information must be disclosed separately if management believes it could be useful for the users of the Consolidated Financial Statements. Information about other business activities of the operating segments not separately reported is combined and disclosed in the "Other segments" category. e) Functional and presentation currency According to International Accounting Standard (IAS) 21 "The Effects of Changes in Foreign Exchange Rates", the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency which influences its costs and revenue structure, has been defined as the Bank's functional and presentation currency. Accordingly, all balances and transactions denominated in currencies other than the Chilean Peso are treated as "foreign currency". The Bank maintains its accounting records and prepares its financial statements in Chilean pesos. f) Foreign currency transactions The Bank makes transactions in amounts denominated in foreign currencies, mainly the U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank are translated to Chilean pesos based on the market rate published by Reuters at 1:30 p.m. representative of the month end reported; the rate used was Ch$747.37 per US$1 as of December 31, 2019 (Ch$697.76 per US$1 as of December, 2018). The amounts of net foreign exchange gains and losses includes recognition of the effects that exchange rate variations have on assets and liabilities denominated in foreign currencies and the profits and losses on foreign exchange spot and forward transactions undertaken by the Bank. g) Classification and measurement of financial instrument – under IFRS 9 Financial instruments must be classified and measured in accordance with IFRS 9 starting from January 1, 2019, which established guidance for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity's future cash flows. I. Classification of financial instrument 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 SPI criterion, ie, the contract is a basic lending arrangement. The Bank applies judgement 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 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. 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 realise 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 realising cash flows through the sale of the assets. The Bank makes decisions based on the assets' fair values and manages the assets to realise those fair values. ii) Classification of financial liabilities The Bank classified all financial liabilities as subsequently measured at amortised cost, except for derivatives that are liabilities, which are measured at fair value through profit or loss. ii) Reclassification 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. 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 are directly attributable to the acquisition or issue of the financial asset or financial liability. ii) Subsequent measurement- financial assets After initial recognition, the Bank shall measure a financial asset at: (a) Amortised 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 amortised cost. The effective interest method is used in the calculation of the amortised 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 amortised cost of a financial liability. (b) Fair value through other comprehensive income (FVOCI) 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 FVOCI. 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 recognised in other comprehensive income, until the assets are sold. Upon disposal, the cumulative gain and losses in OCI are recognised 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 recognised 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 recognised 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 amortised cost. III. Derecognition of financial assets and liabilities Financial assets are derecognised 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 derecognises the financial asset and recognise 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. 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 recognise 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 recognised as a financial asset and a financial liability is recognised for the obligation to pay the repurchase price. Financial liabilities are derecognised when, and only when, they are extinguished, cancelled or expired. IV. Contingent loan The Bank issues contingent liabilities (including letters of credit, foreign letters of credit and performance guarantee) and loan commitments. Contingent liabilities 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 ECL allowances are disclosed in Note 22. V. Offsetting of financial instruments Financial asset and liability balances are offset, i.e., reported in the Consolidated Statements of Financial Position at their net amount, only if there is a legally enforceable right to offset the recorded amounts and the Bank intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. As of December 31, 2019 and 2018 the Bank does not have balance offsetting of financial instruments. h) Definitions and classification of financial instruments – under IAS 39 i. Definitions A "financial instrument" is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An "equity instrument" is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A "financial derivative" is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument's price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. "Hybrid financial instruments" are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), 'held to maturity investments', 'available for sale investments (AFS)' and 'loans and accounts receivable from customers'. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognised and derecognised on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Effective interest method The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Income is recognised on an effective interest basis for loans and accounts receivables other than those financial assets classified as at fair value through profit or loss. Financial assets FVTPL – trading investment Financial assets are classified as FVTPL when the financial asset is either held for trading or they are designated as at fair value through profit or loss. A financial asset is classified as held for trading if: ● it has been acquired principally for the purpose of selling it in the near term; or ● on initial recognition it is part of a portfolio of identified financial instruments that the Bank manages together and has a recent actual pattern of short-term profit-taking; or ● it is a derivative that is not designated and effective as a hedging instrument. A financial asset other than a financial asset held for trading may be designated as FVTPL upon initial recognition if: ● such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or ● the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Bank's documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or ● it forms part of a contract containing one or more embedded derivatives, and IAS 39 permits the entire combined contract to be designated as FVTPL. Financial assets at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any dividend or interest earned on the financial asset and is included in the 'net income (expense) from financial operations' line item. Held to maturity investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity dates that the Bank has the positive intent and ability to hold to maturity. Subsequent to initial recognition, held-to-maturity investments are measured at amortised cost using the effective interest method less any impairment. Available for sale investments (AFS investments) AFS investments are non-derivatives that are either designated as AFS or are not classified as (a) loans and accounts receivable from customers, (b) held-to-maturity investments or (c) financial assets at fair value through profit or loss (trading investments). Financial instruments held by the Bank that are traded in an active market are classified as AFS and are stated at fair value at the end of each reporting period. The Bank also has investments in financial instruments that are not traded in an active market but that are also classified as AFS investments and stated at fair value at the end of each reporting period (because the Bank considers that fair value can be reliably measured). Changes in the carrying amount of AFS monetary financial assets relating to changes in foreign currency rates, interest income calculated using the effective interest method and dividends on AFS equity investments are recognised in profit or loss. Other changes in the carrying amount of available for sale investments are recognised in other comprehensive income and accumulated under the heading of "Valuation Adjustment". When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments revaluation reserve is reclassified to profit or loss. Dividends on AFS equity instruments are recognised in profit or loss when the Bank's right to receive the dividends is established. The fair value of AFS monetary financial assets denominated in a foreign currency is determined in that foreign currency and translated as the described in f) above. The foreign exchange gains and losses that are recognised in profit or loss are determined based on the amortised cost of the monetary asset. Loans and accounts receivable from customers Loans and accounts receivable from customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market |
Accounting Changes
Accounting Changes | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Changes | |
ACCOUNTING CHANGES | NOTE 02 ACCOUNTING CHANGES A. IFRS 16 ADOPTION On January 1, 2019, IFRS 16 Leases has become effective; this standard sets out the principles for the recognition, measurement, presentation and disclosure of leases. The objective is to ensure that lessees and lessors provide relevant information in a manner that faithfully represents those transactions. IFRS 16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, thus a lessee is required to recognise a right-of-use asset representing its right of use the underlying leased asset and a lease liability representing its obligation to make lease payments. IFRS 16 supersedes IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC-15 Operating Leases—Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The Bank has elected to adopt IFRS 16 using a modified retrospective approach at the date of initial application, therefore, it has recognise a right-of-use asset for an amount equal to the lease liability, which amounted MCh$154,284. Below is the detail of impacts as of January 1, 2019: Balance as Balance as of December 31, 2018 Additions of January 01, 2019 MCh$ MCh$ MCh$ Right of use assets - 154,284 154,284 Subtotals Assets - 154,284 154,284 Lease liability - 154,284 154,284 Subtotals Liabilities - 154,284 154,284 For more details, see Note 14. B. IFRS 9 ADOPTION – Transition disclosure The following disclosure provides the impact of adopting IFRS 9 on the statements of financial position and retained earnings including the effect of replacing IAS 39's incurred credit loss provision with IFRS 9's ECLs. IAS 39 carrying amount IFRS 9 carrying amount Category Amount Reclassification Remeasurement Amount Category Ref MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ AMORTISED COST Cash and deposit in banks Opening balance under IAS 39 and closing under IFRS 9 AC 1,452,922 - - 1,452,922 AC Interbank loans, net Opening balance under IAS 39 AC 162,213 - - - - Remeasurement: ECL Allowance A - - (162,213 ) - - - Closing balance under IFRS9 - - - - - - Loans and accounts receivable from customers, net Opening balance under IAS 39 AC 26,772,544 - - - - Addition: from interbank loans A - - 162,213 - - - Subtraction to FVOCI (net of allowance) B - - (107,846 ) - - - Remeasurement: ECL Allowance - - - (97,322 ) - Closing balance under IFRS 9 - - - - 26,729,589 AC Total financial assets measured at amortised cost 28,387,679 (107,846 ) (97,322 ) 28,182,511 - FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (FVOCI) Available for sale investment (debt securities) Opening balance under IAS 39 FVOCI 2,574,546 - - - - Remeasurement: ECL Allowance - - - - - - Closing balance under IFRS 9 - - - - 2,574,546 FVOCI Loans and accounts receivable from customers, net Opening balance under IAS 39 AC - - - - - Addition: from amortised cost (net of allowance) B - - 107,846 - - - Remeasurement: from cost to FV B - - - (236 ) - - Remeasurement: ECL Allowance B - - - 291 - - Closing balance under IFRS 9 - - 107,846 55 107,901 FVOCI Investment in associate and other companies – Bladex (equity instruments) Opening balance under IAS 39 Cost 136 - - - - Remeasurement: from cost to FV C - - - 306 - - Closing balance under IFRS 9 - - - 306 442 FVOCI Investment in associate and other companies- Stock exchange (equity instruments) Opening balance under IAS 39 FV 287 - - - - Remeasurement: from cost to FV - - - - - - Closing balance under IFRS 9 C - - - - 287 FVOCI Total financial assets measured at FVOCI - 2,574,969 107,846 361 2,683,176 - Ref IAS 39 carrying amount IFRS 9 carrying amount Category Amount Reclassification Remeasurement Amount Category MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ FAIR VALUE THROUGH PROFIT OR LOSS (FVPL) Trading investment Opening balance under IAS 39 and closing under IFRS 9 FVPL 485,736 - - 485,736 FVPL Derivative contracts (hedging + trading) - - - - Opening balance under IAS 39 and closing under IFRS 9 FVPL 2,238,647 - - 2,238,647 FVPL Total financial assets measured at FVTPL 2,724,383 - - 2,274,383 - The following explains how applying the new requirements of IFRS 9 led to changes in classification of certain financial assets held by the Bank as shown in the table above: (A) Interbank loans According to the new balance presentation, the Bank has grouped interbank loans with the loans and account receivable since both are measured at amortised cost, and evaluated together for impairment purposes. (B) Loans and account receivable measured at fair value through other comprehensive income The Bank enters into arrangements with its major customers for project finance and syndicated loans and, sometimes the amount requested exceeds the Bank's limit for a single client exposure under the established credit risk policy, accordingly, the transaction is approved under the condition to sell a portion of the facility in the near term, which is classified under this category. Also, the Bank has decided to include loans that the Bank are expecting to sell if the market conditions are favorable to the Bank in this category. These loans are measured at fair value through other comprehensive income, and subject to impairment requirements. (C) Investment in equity instrument The Bank has elected to irrevocably designate non-trading equity securities required to operates in Chile and outside at FVOCI as permitted under IFRS 9. Bladex and stock exchange securities were previously measured at cost as permitted by IAS 39. The changes in fair value will no longer be reclassified to profit or loss when they are disposed of. The following table reconciles the December 31, 2017 period's closing impairment allowance measured in accordance with the IAS 39 incurred loss model to the new impairment model: Loans loss allowance under IAS 39 Reclassification Remeasurement Loans loss allowance under IFRS 9 MCh$ MCh$ MCh$ MCh$ Loans and receivable (IAS 39)/ Financial assets at amortised cost (IFRS 9) Interbank loans 472 (472 ) - - Loans and account receivable from customers 790,685 84 97,322 888,091 Total loans and account receivable at amortised cost 791,157 (388 ) 97,322 888,091 Available for sale investment (IAS39)/Financial assets at FVOCI (IFRS 9) Loans and account receivable from customer – at FVOCI - 388 (291 ) 97 Total financial assets at FVOCI - 388 (291 ) 97 Other credit- related commitments Contingent liabilities 8,404 - (3,767 ) 4,637 Loan commitments - - 19,124 19,124 Total contingents 8,404 - 15,357 23,761 Total provision for loan losses 799,561 - 112,388 911,949 The composition of the loan portfolio as of January 1, 2018 is as follows: Assets before allowances ECL allowance As of January 1, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 162,685 - - 162,685 13 - - 13 162,672 Commercial loans 8,743,179 595,436 543,807 9,882,422 56,546 36,541 246,870 339,957 9,542,465 Foreign trade loans 1,464,059 56,110 54,344 1,574,513 4,883 849 33,480 39,212 1,535,301 Checking accounts debtors 173,738 8,005 13,953 195,696 2,302 411 9,385 12,098 183,598 Factoring transactions 441,014 4,035 4,841 449,890 837 91 3,366 4,294 445,596 Student loans 70,984 7,402 9,904 88,290 3,644 2,329 6,092 12,065 76,225 Leasing transactions 1,235,103 161,882 60,019 1,457,004 8,946 9,553 27,835 46,334 1,410,670 Other loans and account receivable 110,307 5,663 36,623 152,593 2,640 1,549 24,551 28,740 123,853 Subtotal 12,401,069 838,533 723,491 13,963,093 79,811 51,323 351,579 482,713 13,480,380 Mortgage loans Loans with mortgage finance bonds 21,529 1,230 1,301 24,060 25 51 172 248 23,812 Endorsable mortgage mutual loans 107,900 2,973 4,205 115,078 100 143 628 871 114,207 Other mortgage mutual loans 8,061,800 465,146 430,811 8,957,757 14,477 20,033 72,390 106,900 8,850,857 Subtotal 8,191,229 469,349 436,317 9,096,895 14,602 20,227 73,190 108,019 8,988,876 Consumer loans Installment consumer loans 2,378,614 234,044 298,084 2,910,742 51,172 46,866 157,811 255,849 2,654,893 Credit card balances 1,324,742 20,916 19,322 1,364,980 20,443 7,633 11,982 40,058 1,324,922 Leasing transactions 4,627 47 41 4,715 1,013 23 74 1,110 3,605 Other consumer loans 270,410 2,573 4,272 277,255 84 35 223 342 276,913 Subtotal 3,978,393 257,580 321,719 4,557,692 72,712 54,557 170,090 297,359 4,260,333 Total 24,570,691 1,565,462 1,481,527 27,617,680 167,125 126,107 594,859 888,091 26,729,589 |
Significant Events
Significant Events | 12 Months Ended |
Dec. 31, 2019 | |
Significant Events | |
SIGNIFICANT EVENTS | NOTE 03 SIGNIFICANT EVENTS As of December 31, 2019, the following significant events have occurred and affected the Bank's operations and Consolidated Financial Statements. a) The Board During the ordinary session of the Board of Directors of Banco Santander-Chile, held on February 28, 2019, it was agreed to propose to the Ordinary Shareholders' Meeting on April 23, 2019, a dividend of $ 1.88457837 per share, corresponding 60% of the profits for the 2018 fiscal year. Likewise, the board will propose that the remaining 40% of the profits be used to increase the Bank's reserves. During the ordinary session of the Board of Directors of Banco Santander-Chile, held on March 26, 2019, the following matters were agreed: - Due to the resignation of the Director Mr. Andreu Plaza López, the Board of Directors of the Bank has appointed Mr. Rodrigo Echenique Gordillo to replace him as Director. - It was agreed to subscribe an agreement with SKBergé S.A., whereby the Bank would acquire the ownership held by SKBergé Financiamiento S.A. in Santander Consumer Chile S.A., representing 49% of the capital stock of Santander Consumer Chile S.A., for a total of $59,063,470,000. During the ordinary session of the Board of Directors of Banco Santander-Chile, held on July 30, 2019, it was agreed to call an Extraordinary Shareholders Meeting for August 27, 2019, in order to submit for the shareholder's consideration the acquisition of 51% of the shares issued by Santander Consumer Chile S.A. On August 13, 2019, the favorable opinions of the members of the Board of Directors of Banco Santander-Chile were communicated to the market, regarding the 51% acquisition of the shares of Santander Consumer Chile S.A. At the Extraordinary Shareholders Meeting of Banco Santander-Chile held on August 27, 2019, it was agreed to approve the operation to acquire 51% of the shares issued by Santander Consumer Chile S.A. The transactions were approved by the Financial Market Commission (FMC) on November 15, 2019, and executed on November 21, 2019. b) New subsidiaries and corporate modifications On October 19, 2019, Klare Corredora de Seguros S.A. was created as a digital insurance broker. With prior FMC (former SBIF) authorization by resolution No. 6780 of September 26, 2019, Banco Santander-Chile subscribed to 50.10% of the subsidiary. On November 27, 2019, the Bank acquired 51% of Santander Consumer S.A., an automobile financing non-banking company, which became a subsidiary of the Bank and a supporting banking business company from SK Berge (49%) and Banco Santander S.A. (2%) for a total amount MCh$62,136. The purchase generated a negative equity effect of MCh$37,041, since it was considered a transaction between entities under common control, the Bank used "predecessor accounting method". On December 18, 2019, Santander Agencia de Valores Limitada modified its corporate name and business objective, becoming Santander Asesorias Financieras Limitada and having the following object: i) search for alternative sources of financing; ii) restructuring of its liabilities; iii) negotiations to acquire, sell or merge companies; iv) issuance and placement of bonds; v) placement of funds in the capital market; vi) credit or market risk analysis; vii) evaluation of new businesses; viii) knowledge of banking matters; ix) any other activity directly linked to financial advice. c) Bods issued at December 31, 2019 c.1 Senior bonds During the year ended December 31, 2019 the Bank has issued senior bonds int the amount of AUD 185,000,000, EUR 65,000,000 and CHF 250,000,000, debt issuance information is included in Note 19. Series Currency Term (annual) Issuance rate (annual) Issuance date Amount Maturity date EUR EUR 7 1,09% 02-01-2019 40,000,000 07-02-2026 EUR EUR 15 1,25% 11-26-2019 25,000,000 01-03-2022 Total EUR 65,000,000 AUD AUD 15 3,66% 05-13-2019 22,000,000 20-05-2034 AUD AUD 5 1,13% 07-11-2019 20,000,000 11-07-2024 AUD AUD 5 1,13% 07-17-2019 28,000,000 17-07-2024 AUD AUD 5 1,13% 07-17-2019 15,000,000 17-07-2024 AUD AUD 20 3,05% 08-30-2019 75,000,000 28-02-2039 AUD AUD 15 3,16% 11-12-2019 12,000,000 20-11-2034 AUD AUD 15 2,91% 11-21-2019 13,000,000 27-11-2034 Total AUD 185,000,000 CHF CHF 5 0,38% 03-12-2019 150,000,000 27-09-2024 CHF CHF 10 0,14% 08-29-2019 100,000,000 29-08-2029 Total CHF 250,000,000 c.2 Subordinated bonds As at December 31, 2019 the Bank had not issued subordinated bonds in this financial year. c.3 Mortgage bonds As at December 31, 2019 the Bank had not issued mortgage bonds in this financial year. c.4 Repurchase of bonds The Bank has conducted the following repurchase of bonds as of December 31, 2019: Date Series Currency Amount 02-12-2019 Senior CLP 10,000,000,000 02-14-2019 Senior CLP 30,000,000,000 02-19-2019 Senior CLP 4,200,000,000 02-22-2019 Senior CLP 14,240,000,000 02-22-2019 Senior CLP 30,000,000 02-22-2019 Senior CLP 10,000,000 03-01-2019 Senior CLP 11,800,000,000 03-04-2019 Senior CLP 40,080,000,000 03-05-2019 Senior CLP 20,000,000,000 03-15-2019 Senior UF 156,000 03-19-2019 Senior UF 418,000 03-20-2019 Senior CLP 6,710,000,000 03-20-2019 Senior UF 154,000 03-21-2019 Senior UF 100,000 03-25-2019 Senior UF 100,000 03-26-2019 Senior UF 90,000 04-08-2019 Senior CLP 3,950,000,000 04-10-2019 Senior UF 409,000 04-16-2019 Senior UF 55,000 04-17-2019 Senior CLP 130,000,000 04-18-2019 Senior CLP 330,000,000 05-16-2019 Senior CLP 14,880,000,000 05-16-2019 Senior UF 9,000 06-13-2019 Senior UF 1,000 10-01-2019 Senior CLP 10,960,000,000 10-02-2019 Senior CLP 100,000,000 10-04-2019 Senior CLP 60,000,000 11-05-2019 Senior CLP 15,220,000,000 11-07-2019 Senior CLP 3,620,000,000 11-13-2019 Senior CLP 5,320,000,000 11-14-2019 Senior UF 2,977,000 11-28-2019 Senior UF 340,000 12-02-2019 Senior UF 105,000 d) Others On January 12, 2019, was published in the "Diario Oficial" Law 21,130 that modernizes Banking Legislation. This law introduces modifications, among other regulatory bodies, to the General Bank Law (LGB), to Law 21,000 creating the Financial Market Commission ("FMC" which replaces former SBIF), to the Organic Law of the State Bank of Chile and to the Tax Code. The main changes introduced by this law are the integration of the SBIF within the Financial Market Commission (FMC), new capital requirements in accordance with the international standards established by Basel III, in addition to new limits for credit operations. The new law adopts the highest international standards in banking regulation and supervision, strengthening international competitiveness and contributing to the financial stability of Chile. The FMC has issued three standards drafts for comment of a total of 16 that are required for the full fulfillment of the new capital requirements: - Identification of banks with systemic importance. - New standardized methodology to determine risk-weighted assets operational risk. - Methodology for computing regulatory capital. On December 20, 2019, the FMC issued Circular N°2,243 Compendium of Accounting Standards for banks, which incorporates the modifications introduced by the IASB through new standards such as IFRS 9 Financial Instruments (excluding impairment chapter), IFRS 16 Leases, IFRS15 Revenue from Contracts with customers and disclosures required by IFRS 7 Financial Instruments:Disclosures. The modifications pursue greater convergence to IFRS, improving disclosures and contributing to the transparency of the Chilean banking system. The new compendium (CNCB) is applicable from January 1, 2021, and for the purposes of comparative financial statement as of March 2021, 2020 will be a transition year. Social unrest During October 2019, growing public concern over perceived social inequality led to a rise in social unrest. As a results, certain Bank's branches suffered different level of damages. As of December 31, 2019, the Bank recorded an impairment for an amount of MCh$2,726 (see Note 33), and expenses for MCh$1,823 as other operational expenses (see Note 34). Most of this damage was insured. |
Reporting Segments
Reporting Segments | 12 Months Ended |
Dec. 31, 2019 | |
Reporting Segments | |
REPORTING SEGMENTS | NOTE 04 REPORTING SEGMENTS The Bank manages and measures the performance of its operations by business segments. The information disclosed in this note is not necessarily comparable to that of other financial institutions, since it is based on management's internal information system by segment. Inter-segment transactions are conducted under normal arm's length commercial terms and conditions. Each segment's assets, liabilities, and income include items directly attributable to the segment to which they can be allocated on a reasonable basis. Under IFRS 8, the Bank has aggregated operating segments with similar economic characteristics according to the aggregation criteria specified in the standard. A reporting segment consists of clients that are offered differentiated but, considering how their performance is measured, are homogenous services based on IFRS 8 aggregation criteria, thus they form part of the same reporting segment. Overall, this aggregation has no significant impact on the understanding of the nature and effects of the Bank's business activities and the economic environment. The Bank has the reportable segments noted below: Retail Banking Consists of individuals and small to middle-sized entities (SMEs) with annual income less than Ch$2,000 million. This segment gives customers a variety of services, including consumer loans, credit cards, automobile loans, commercial loans, foreign exchange, mortgage loans, debit cards, checking accounts, savings products, mutual funds, stockbrokerage, and insurance brokerage. Additionally the SME clients are offered government-guaranteed loans, leasing and factoring. Middle-market This segment is made up of companies and large corporations with annual sales exceeding Ch$2,000 million. It serves institutions such as universities, government entities, local and regional governments and companies engaged in the real estate industry who carry out projects to sell properties to third parties and annual sales exceeding Ch$800 million with no upper limit. The companies within this segment have access to many products including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, transactional services, treasury services, financial consulting, savings products, mutual funds, and insurance brokerage. Also companies in the real estate industry are offered specialized services to finance projects, chiefly residential, with the aim of expanding sales of mortgage loans. Global Investment Banking This segment consists of foreign and domestic multinational companies with sales over Ch$10,000 million. The companies within this segment have access to many products including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, transactional services, treasury services, financial consulting, investments, savings products, mutual funds and insurance brokerage. This segment also consists of a Treasury Division which provides sophisticated financial products, mainly to companies in the Middle-market and Global Investment Banking segments. These include products such as short-term financing and fund raising, brokerage services, derivatives, securitization, and other tailor-made products, The Treasury area may act as brokers to transactions and also manages the Bank's investment portfolio. Corporate Activities ("Other") This segment mainly includes the results of our Financial Management Division, which develops global management functions, including managing inflation rate risk, foreign currency gaps, interest rate risk and liquidity risk. Liquidity risk is managed mainly through wholesale deposits, debt issuances and the Bank's available for sale portfolio. This segment also manages capital allocation by unit. These activities usually result in a negative contribution to income. In addition, this segment encompasses all the intra-segment income and all the activities not assigned to a given segment or product with customers. The segments' accounting policies are those described in the summary of accounting policies, The Bank earns most of its income in the form of interest income, fee and commission income and income from financial operations. To evaluate a segment's financial performance and make decisions regarding the resources to be assigned to segments, the Chief Operating Decision Maker (CODM) bases his assessment on the segment's interest income, fee and commission income, and expenses. Below are the tables showing the Bank's results by reporting segment for the years ended December 31, 2019, 2018 and 2017 in addition to the corresponding balances of loans and accounts receivable from customers: For the year ended December 31, 2019 Loans and accounts receivable at amortised cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected credit losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 22,926,377 960,361 230,627 28,426 (279,969 ) (575,511 ) 356,665 Middle-market 8,093,496 298,587 38,712 13,535 (38,746 ) (97,054 ) 220,320 Global Investment Banking 1,603,633 98,154 29,103 94,761 (224 ) (65,343 ) 156,083 Other 48,009 59,862 (11,356 ) 64,970 (4,819 ) (11,953 ) 99,502 Total 32,671,515 1,416,964 287,086 201,692 (323,311 ) (749,861 ) 832,570 Other operating income 13,001 Other operating expenses and impairment (52,029 ) Income from investments in associates and other companies 1,146 Income tax expense (175,074 ) Result of continuing operations 619,614 Result of discontinued operations 1,699 Net income for the year 621,313 (1) Corresponds to loans and accounts receivable at amortised cost under IFRS 9, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. For the year ended December 31, 2018 Loans and accounts receivable at amortised cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected credit losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 20,786,637 949,764 220,532 19,694 (287,739 ) (553,157 ) 349,094 Middle-market 7,690,380 272,912 36,746 16,848 (26,314 ) (92,377 ) 207,815 Global Investment Banking 1,613,088 96,722 35,064 57,340 2,339 (64,913 ) 126,552 Other 123,310 94,970 (1,457 ) 11,200 (5,694 ) (11,486 ) 87,533 Total 30,213,415 1,414,368 290,885 105,082 (317,408 ) (721,933 ) 770,994 Other operating income 23,129 Other operating expenses and impairment (32,381 ) Income from investments in associates and other companies 1,325 Income tax expense (167,144 ) Result of continuing operations 595,923 Result of discontinued operations 3,770 Net income for the year 599,693 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. For the year ended December 31, 2017 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 19,233,169 970,332 206,449 20,595 (293,956 ) (534,970 ) 368,450 Middle-market 6,775,734 264,663 36,280 13,751 (19,235 ) (91,882 ) 203,577 Global Investment Banking 1,633,796 100,808 27,626 50,714 6,440 (62,685 ) 122,903 Other 83,215 (9,112 ) 8,708 44,692 4,496 (15,356 ) 33,428 Total 27,725,914 1,326,691 279,063 129,752 (302,255 ) (704,893 ) 728,358 Other operating income 62,016 Other operating expenses and impairment (74,057 ) Income from investments in associates and other companies 1,144 Income tax expense (145,031 ) Result of continuing operations 572,430 Result of discontinued operations 2,819 Net income for the year 575,249 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 05 CASH AND CASH EQUIVALENTS a) The detail of the balances included under cash and cash equivalents is as follows: As of December 31, 2019 2018 MCh$ MCh$ Cash and deposits in banks Cash 861,178 824,863 Deposits at the Central Bank of Chile 1,731,079 953,016 Deposits in local banks 948 664 Deposits in banks abroad 961,315 286,898 Subtotals – Cash and deposits in banks 3,554,520 2,065,411 Net cash items in process of collection 156,814 190,714 Cash and cash equivalents 3,711,334 2,256,155 The balance of funds held in cash and at the Central Bank of Chile reflects the monthly average that the Bank must maintain in accordance with the regulations governing minimum reserves although the balance can be withdrawn on demand. b) Cash in process of collection and in process of being cleared: Cash items in process of collection and in process of being cleared represent domestic transactions which have not been processed through the central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences. These transactions were as follows: As of December 31, 2019 2018 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 217,394 210,546 Funds receivable 137,668 143,211 Subtotal 355,062 353,757 Liabilities Funds payable 198,248 163,043 Subtotal 198,248 163,043 Cash in process of collection, net 156,814 190,714 |
Financial Assets Held for Tradi
Financial Assets Held for Trading | 12 Months Ended |
Dec. 31, 2019 | |
Financial Assets Held For Trading Trading Investments | |
FINANCIAL ASSETS HELD FOR TRADING | NOTE 06 FINANCIAL ASSETS HELD FOR TRADING The detail of instruments deemed as financial trading investments is as follows: As of December 31, 2019 2018 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 1,952 22,947 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 268,252 48,211 Subtotal 270,204 71,158 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds - - Other Chilean securities - - Subtotal - - Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - 5,883 Subtotal - 5,883 Investments in mutual funds Funds managed by related entities - - Funds managed by others - - Subtotal - - Total 270,204 77,041 As of December 31, 2019 and 2018, there were no trading investments sold under contracts to resell to clients or financial institutions. |
Investments under Resale Agreem
Investments under Resale Agreements and Obligations under Repurchase Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Investments Under Resale Agreements And Obligations Under Repurchase Agreements | |
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS | INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS a) As of December 31, 2019 and 2018, the Bank does not have investment under resale agreements. b) Obligations arising from repurchase agreements The Bank raises funds by selling financial instruments and committing itself to buy them back at future dates, plus interest at a predetermined rate. As of December 31, 2019 and 2018, obligations related to instruments sold under repurchase agreements are as follows: As of December 31, 2019 2018 From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - 48,307 - - 48,307 Chilean Central Bank Notes - - - - - - - - Other securities from the Government and the Chilean Central Bank 379,891 33 - 379,924 110 - - 110 Subtotal 379,891 33 - 379,924 48,417 - - 48,417 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 127 4 - 131 128 - - 128 Subtotal 127 4 - 131 128 - - 128 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - - - Subtotal - - - - - - - - Total 380,018 37 - 380,055 48,545 - - 48,545 c) Below is the detail by portfolio of collateral associated with repurchase agreements as of December 31, 2019 and 2018, valued at fair value: As of December 31, 2019 2018 Available for sale portfolio Trading portfolio Total Available for sale portfolio Trading portfolio Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - 49,040 - 49,040 Chilean Central Bank Notes - - - - - - Other securities from the Government and the Chilean Central Bank 379,924 - 379,924 109 - 109 Subtotal 379,924 - 379,924 49,149 - 49,149 Other Chilean securities: Time deposits in Chilean financial institutions 131 - 131 132 - 132 Subtotal 131 - 131 132 - 132 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - Subtotal - - - - - - Total 380,055 - 380,055 49,281 - 49,281 |
Derivative Financial Instrument
Derivative Financial Instruments and Hedge Accounting | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Financial Instruments And Hedge Accounting | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING a) As of December 31, 2019 and 2018 the Bank holds the following portfolio of derivative instruments: As of December 31, 2019 Notional amount Fair value Up to 3 Months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 381,638 317,610 1,847,138 2,546,386 39,460 34,264 Cross currency swaps 407,008 863,984 13,357,058 14,628,050 226,870 295,281 Subtotal 788,646 1,181,594 15,204,196 17,174,436 266,330 329,545 Cash flow hedge derivatives Currency forwards 99,105 1,018,656 768,256 1,886,017 4,131 3,505 Cross currency swaps 2,266,907 1,938,222 10,848,233 15,053,362 106,413 43,183 Subtotal 2,366,012 2,956,878 11,616,489 16,939,379 110,544 46,688 Trading derivatives Currency forwards 28,472,586 18,508,702 7,679,464 54,660,752 1,023,683 1,137,496 Interest rate swaps 16,678,487 40,892,909 89,109,046 146,680,442 2,465,235 2,270,686 Cross currency swaps 7,726,724 20,457,463 113,206,678 141,390,865 4,277,450 3,605,516 Call currency options 17,971 47,012 81,804 146,787 5,176 240 Put currency options 16,409 41,872 80,655 138,936 190 483 Subtotal 52,912,177 79,947,958 210,157,647 343,017,782 7,771,734 7,014,421 Total 56,066,835 84,086,430 236,978,332 377,131,597 8,148,608 7,390,654 As of December 31, 2018 Notional amount Fair value Up to 3 months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 80,000 491,600 1,191,012 1,762,612 14,789 9,188 Cross currency swaps - 1,276,909 6,706,197 7,983,106 96,357 36,708 Subtotal 80,000 1,768,509 7,897,209 9,745,718 111,146 45,896 Cash flow hedge derivatives Currency forwards 205,750 168,151 - 373,901 - 8,013 Cross currency swaps 1,920,900 1,970,412 9,191,209 13,082,521 79,859 32,712 Subtotal 2,126,650 2,138,563 9,191,209 13,456,422 79,859 40,725 Trading derivatives Currency forwards 15,301,943 13,080,875 6,062,183 34,445,001 613,063 466,741 Interest rate swaps 12,024,095 22,064,681 69,453,618 103,542,394 723,870 577,835 Cross currency swaps 2,173,111 8,853,306 68,976,339 80,002,756 1,568,365 1,385,314 Call currency options 26,731 60,235 57,579 144,545 4,332 854 Put currency options 23,411 50,445 56,392 130,248 - 363 Subtotal 29,549,291 44,109,542 144,606,111 218,264,944 2,909,630 2,431,107 Total 31,755,941 48,016,614 161,694,529 241,467,084 3,100,635 2,517,728 b) Hedge accounting Fair value hedge: The Bank uses cross-currency swaps and interest rate swaps to hedge its exposure to changes in fair value of hedged items attributable to interest rates. The aforementioned hedging instruments change the effective cost of long-term issuances from a fixed interest rate to a variable interest rate. Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2019 and 2018, classified by term to maturity: As of December 31, 2019 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loan 633,300 1,189,036 1,545,240 3,466,874 6,834,450 Commercial loans - 600,000 50,000 - 650,000 Debt instruments at FVOCI Chilean sovereign bonds - - 5,605 394,691 400,296 Mortgage financing bonds - 2,728 - - 2,728 Treasury bonds - - 149,474 37,369 186,843 Chilean Treasury bonds - 289,369 - - 289,369 Chilean Central Bank bonds - 254,685 - - 254,685 Time deposits and other time liabilities Time deposits 685,259 281,921 225,515 - 1,192,695 Issued debt instruments Senior bonds 651,681 1,133,698 2,253,892 3,324,099 7,363,370 Total 1,970,240 3,751,437 4,229,726 7,223,033 17,174,436 Hedging instrument Cross currency swaps 1,270,992 2,791,437 3,774,647 6,790,974 14,628,050 Interest rate swaps 699,248 960,000 455,079 432,059 2,546,386 Total 1,970,240 3,751,437 4,229,726 7,223,033 17,174,436 As of December 31, 2018 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loan 653,872 1,272,382 276,590 603,818 2,806,662 Debt instruments at FVOCI Chilean sovereign bonds - - - 172,072 172,072 Mortgage financing bonds - - 3,779 - 3,779 Treasury bonds - - - 174,440 174,440 Chilean Treasury bonds - 304,818 - 220,041 524,859 Chilean Central Bank bonds - 449,730 - - 449,730 Time deposits and other time liabilities Time deposits 486,013 - - - 486,013 Issued debt instruments Senior bonds 708,624 1,117,779 1,298,471 2,003,289 5,128,163 Total 1,848,509 3,144,709 1,578,840 3,173,660 9,745,718 Hedging instrument Cross currency swaps 1,276,909 2,794,709 1,228,840 2,682,648 7,983,106 Interest rate swaps 571,600 350,000 350,000 491,012 1,762,612 Total 1,848,509 3,144,709 1,578,840 3,173,660 9,745,718 Cash flow hedges The Bank uses cross currency swaps to hedge the risk from variability of cash flows attributable to changes in the interest rates of bonds and interbank loans at a variable rate. To cover the inflation risk in some items, both forwards as well as currency swaps are used. Below is the notional amount of the hedged items as of December 31, 2019 and 2018, and the period when the cash flows will be generated: As of December 31, 2019 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loans 3,334,734 1,505,595 1,995,156 3,136,962 9,972,447 Commercial loans - - - - - Debt instruments at FVOCI Chilean sovereign bonds - - - - - Chilean Central Bank bonds - - 82,727 - 82,727 Time deposits - - 267,286 225,981 493,267 Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) 358,118 341,283 - - 699,401 Senior bonds (fixed rate) 803,596 1,696,595 1,152,461 1,069,511 4,722,163 Interbank borrowings Interbank loans 826,442 142,932 - - 969,374 Total 5,322,890 3,686,405 3,497,630 4,432,454 16,939,379 Hedging instrument Cross currency swaps 4,205,129 2,918,149 3,497,630 4,432,454 15,053,362 Currency forwards 1,117,761 768,256 - - 1,886,017 Total 5,322,890 3,686,405 3,497,630 4,432,454 16,939,379 As of December 31, 2018 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loans 1,890,696 3,026,824 1,459,389 2,467,090 8,843,999 Commercial loans 109,585 - - - 109,585 Debt instruments at FVOCI Chilean sovereign bonds - - - - - Chilean Central Bank bonds - - 246,306 246,306 Time deposits - - 166,628 - 166,628 Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) - 666,823 - - 666,823 Senior bonds (fixed rate) 500,583 52,790 601,639 503,721 1,658,733 Interbank borrowings Interbank loans 1,764,348 - - - 1,764,348 Total 4,265,212 3,746,437 2,473,962 2,970,811 13,456,422 Hedging instrument Cross currency swaps 3,891,311 3,746,437 2,473,962 2,970,811 13,082,521 Currency forwards 373,901 - - - 373,901 Total 4,265,212 3,746,437 2,473,962 2,970,811 13,456,422 Below is an estimate of the periods in which cash flows are expected to be produced: b.1 Forecasted cash flows for interest rate risk: As of December 31, 2019 Within 1 year Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 25,328 10,220 217 - 35,765 Outflows (356,683 ) (245,480 ) (154,689 ) (163,151 ) (920,003 ) Net flows (331,355 ) (235,260 ) (154,472 ) (163,151 ) (884,238 ) Hedging instrument Inflows 356,683 245,480 154,689 163,151 920,003 Outflows (*) (25,328 ) (10,220 ) (217 ) - (35,765 ) Net flows 331,355 235,260 154,472 163,151 884,238 (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2018 Within 1 year Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 76,736 35,994 3,062 2,401 118,193 Outflows (125,747 ) (46,372 ) (13,311 ) (4,701 ) (190,131 ) Net flows (49,011 ) (10,378 ) (10,249 ) (2,300 ) (71,938 ) Hedging instrument Inflows 125,747 46,372 13,311 4,701 190,131 Outflows (*) (76,736 ) (35,994 ) (3,062 ) (2,401 ) (118,193 ) Net flows 49,011 10,378 10,249 2,300 71,938 (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. b.2 Forecasted cash flows for inflation risk: As of December 31, 2019 Within 1 year Between 1 and 3 years Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 74,574 109,486 216,972 422,362 823,394 Outflows (19,466 ) (50,151 ) (33,140 ) (52,880 ) (155,637 ) Net flows 55,108 59,335 183,832 369,482 667,757 Hedging instrument Inflows 19,466 50,151 33,140 52,880 155,637 Outflows (74,574 ) (109,486 ) (216,972 ) (422,362 ) (823,394 ) Net flows (55,108 ) (59,335 ) (183,832 ) (369,482 ) (667,757 ) As of December 31, 2018 Within 1 year Between 1 and 3 years Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 37,086 73,576 166,516 310,293 587,471 Outflows (14,036 ) - - - (14,036 ) Net flows 23,050 73,576 166,516 310,293 573,435 Hedging instrument Inflows 14,036 - - - 14,036 Outflows (37,086 ) (73,576 ) (166,516 ) (310,293 ) (587,471 ) Net flows (23,050 ) (73,576 ) (166,516 ) (310,293 ) (573,435 ) b.3 Forecasted cash flows for exchange rate risk: As of December 31, 2019 and 2018 the Bank has no forecasted cash flows for exchange rate risk. c) The accumulated effect of the mark to market adjustment of cash flow hedges produced by hedge instruments used in hedged cash flow was recorded in the Consolidated Statements of Changes in Equity, specifically within Other comprehensive income, as of December 31, 2019 and 2018, is as follows: As of December 31, Hedged item 2019 2018 MCh$ MCh$ Interbank loans (1,872 ) 309 Issued debt instruments (16,345 ) (10,893 ) Debt instruments at FVOCI (2,905 ) (1,392 ) Loans and accounts receivable at amortised cost (19,313 ) 21,779 Net flows (40,435 ) 9,803 Since the inflows and outflows for both the hedged element and the hedging instrument mirror each other, the hedges are nearly 100% effective, which means that the fluctuations of fair value attributable to risk components are almost completely offset. During the year, the Bank did not enter into any cash flow hedges relating to forecasted transactions. d) Below is a presentation of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income for the year: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Bond hedging derivatives (120 ) - - Interbank loans hedging derivatives (955 ) (683 ) - Cash flow hedge net gain (loss) (1,075 ) (683 ) - See Note 24 - Equity, letter e) e) Net investment hedges in foreign operations: As of December 31, 2019 and 2018, the Bank does not have any foreign net investment hedges in its hedge accounting portfolio. f) Macrohedges Notional amount As of December 31, 2019 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortised cost Mortage loans 633,300 1,189,036 1,545,240 3,466,874 6,834,450 Commercial loans - 600,000 50,000 - 650,000 Notional amount As of December 31, 2018 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortised cost Mortage loans 653,872 1,272,382 276,590 603,818 2,806,662 Commercial loans - - - - - As of December 31, 2019 and 2018, Other Assets include MCh$210,867 and MCh$9,414 respectively, related to fair value measurement of net assets or liabilities subject to macrohedges. See Note 16. |
Loans and Accounts Receivable a
Loans and Accounts Receivable at Amortised Cost | 12 Months Ended |
Dec. 31, 2019 | |
Loans And Account Receivable At Amortised Cost - Under Ifrs 9 | |
LOANS AND ACCOUNTS RECEIVABLE AT AMORTISED COST | NOTE 09 LOANS AND ACCOUNTS RECEIVABLE AT AMORTISED COST As of December 31, 2019 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance Net As of December 31, 2019 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 14,852 - - 14,852 1 - - 1 14,851 Commercial loans 10,179,002 870,028 659,157 11,708,187 41,296 41,734 301,094 384,124 11,324,063 Foreign trade loans 1,519,757 155,324 38,552 1,713,633 4,113 705 23,569 28,387 1,685,246 Checking accounts debtors 166,771 16,108 14,014 196,893 1,492 764 9,644 11,900 184,993 Factoring transactions 478,465 7,946 2,989 489,400 1,158 234 1,904 3,296 486,104 Student loans 57,206 5,942 8,125 71,273 1,774 1,950 5,595 9,319 61,954 Leasing transactions 1,184,765 178,556 61,541 1,424,862 5,415 8,270 30,960 44,645 1,380,217 Other loans and account receivable 201,805 11,163 30,257 243,225 2,178 2,287 20,432 24,615 218,328 Subtotal 13,802,623 1,245,067 814,635 15,862,325 57,427 55,944 393,198 506,569 15,355,756 Mortgage loans Loans with mortgage finance bonds 10,774 744 780 12,298 13 21 103 137 12,161 Endorsable mortgage mutual loans 92,792 2,819 4,541 100,152 72 103 641 816 99,336 Other mortgage mutual loans 10,172,400 454,385 523,760 11,150,545 8,361 14,385 77,360 100,106 11,050,439 Subtotal 10,275,966 457,948 529,081 11,262,995 8,446 14,509 78,104 101,059 11,161,936 Consumer loans Installment consumer loans 3,378,489 270,347 268,700 3,917,536 51,289 45,102 158,670 255,061 3,662,475 Credit card balances 1,341,734 17,668 18,308 1,377,710 12,507 4,894 9,936 27,337 1,350,373 Leasing transactions 3,569 303 80 3,952 56 30 36 122 3,830 Other consumer loans 239,255 4,400 3,342 246,997 3,544 782 1,621 5,947 241,050 Subtotal 4,963,047 292,718 290,430 5,546,195 67,396 50,808 170,263 288,467 5,257,728 Total 29,041,636 1,995,733 1,634,146 32,671,515 133,269 121,261 641,565 896,095 31,775,420 As of December 31, 2018 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance Net As of December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 15,093 - - 15,093 10 - - 10 15,083 Commercial loans 9,684,451 841,123 608,192 11,133,766 52,782 41,954 274,050 368,786 10,764,980 Foreign trade loans 1,646,337 56,295 49,805 1,752,437 5,466 735 33,716 39,917 1,712,520 Checking accounts debtors 183,290 16,452 15,420 215,162 2,108 467 11,209 13,784 201,378 Factoring transactions 370,391 6,005 4,587 380,983 829 91 3,433 4,353 376,630 Student loans 64,381 6,049 9,486 79,916 2,705 2,170 6,315 11,190 68,726 Leasing transactions 1,225,755 169,196 48,773 1,443,724 7,236 9,033 22,531 38,800 1,404,924 Other loans and account receivable 123,108 5,135 36,821 165,064 2,594 1,190 26,178 29,962 135,101 Subtotal 13,312,806 1,100,255 773,084 15,186,145 73,730 55,640 377,432 506,802 14,679,342 Mortgage loans Loans with mortgage finance bonds 15,261 1,241 924 17,426 20 40 117 177 17,249 Endorsable mortgage mutual loans 101,074 3,454 4,008 108,536 87 126 592 805 107,731 Other mortgage mutual loans 9,142,627 442,801 439,591 10,025,019 8,899 14,936 66,453 90,288 9,934,731 Subtotal 9,258,962 447,496 444,523 10,150,981 9,006 15,102 67,162 91,270 10,059,711 Consumer loans Installment consumer loans 2,693,260 231,107 265,303 3,189,670 50,748 48,622 148,017 247,387 2,942,283 Credit card balances 1,385,783 14,977 16,392 1,417,152 15,087 4,961 8,740 28,788 1,388,364 Leasing transactions 3,974 133 50 4,157 83 22 22 127 4,030 Other consumer loans 258,723 2,822 3,765 265,310 4,986 767 2,287 8,040 257,270 Subtotal 4,341,740 249,039 285,510 4,876,289 70,904 54,372 159,066 284,342 4,591,947 Total 26,913,508 1,796,790 1,503,117 30,213,415 153,640 125,114 603,660 882,414 29,331,001 a. Commercial loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 9,695,837 3,644,407 867,783 235,239 386,929 387,265 15,217,460 Transfers Transfers to stage 2 (518,990 ) (347,678 ) 518,990 347,678 - - - Transfers to stage 3 - (41,696 ) - - - 41,696 - Transfers to stage 3 - - (132,136 ) (230,125 ) 132,136 230,125 - Transfers to stage 1 158,935 159,009 (158,935 ) (159,009 ) - - - Transfers to stage 2 - - 11,229 120,293 (11,229 ) (120,293 ) - Transfers to stage 1 - 1,134 - - - (1,134 ) - Net changes of financial assets 542,311 415,524 (119,884 ) (68,960 ) (24,788 ) (31,945 ) 712,258 Write-off - - - - (83,845 ) (94,004 ) (177,849 ) Foreign exchange adjustments and others 330,171 (236,341 ) 17,920 (5,016 ) 1,804 1,918 110,456 At December 31, 2019 10,208,264 3,594,359 1,004,967 240,100 401,007 413,628 15,862,325 Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019(*) 30,189 44,104 31,066 24,945 198,115 179,771 508,190 Transfers Transfers to stage 2 (7,786 ) (20,058 ) 17,237 68,705 - - 58,098 Transfers to stage 3 - (2,666 ) - - - 16,087 13,421 Transfers to stage 3 - - (8,567 ) (42,601 ) 44,203 71,200 64,235 Transfers to stage 1 1,576 4,838 (7,525 ) (22,278 ) - - (23,389 ) Transfers to stage 2 - - 685 9,667 (3,867 ) (27,482 ) (20,997 ) Transfers to stage 1 - 88 - - - (242 ) (154 ) Net changes of the exposure and modifications in credit risk (6,948 ) 14,199 (3,151 ) (12,533 ) 41,365 54,962 87,894 Write-off - - - - (83,844 ) (94,014 ) (177,858 ) Foreign exchange adjustments and others 4,508 (4,617 ) 644 (350 ) 193 (3,249 ) (2,871 ) At December 31, 2019 21,539 35,888 30,389 25,555 196,165 197,033 506,569 (*) Include loans and ECL balances of the acquired Santander Consumer Chile S.A. An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 9,062,153 3,338,916 630,515 208,018 372,744 350,747 13,963,093 Transfers Transfers to stage 2 (225,062 ) (53,020 ) 225,062 53,020 - - - Transfers to stage 3 (16,654 ) (67,886 ) - - 16,654 67,886 - Transfers to stage 3 - - (59,688 ) (40,853 ) 59,688 40,853 - Transfers to stage 1 13,199 52,755 (13,199 ) (52,755 ) - - Transfers to stage 2 - - 4,451 36,247 (4,451 ) (36,247 ) - Transfers to stage 1 - 718 - - (718 ) - Net changes on financial assets 1,334,933 708,531 138,436 48,323 4,240 70,848 2,305,311 Write-off - - - - (53,921 ) (74,430 ) (128,351 ) Foreign Exchange adjustments and others (472,732 ) (363,045 ) (57,794 ) (19,528 ) (8,025 ) (32,784 ) (953,908 ) At December 31, 2018 9,695,837 3,616,969 867,783 232,472 386,929 386,153 15,186,145 Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 29,797 50,014 28,282 23,041 191,397 160,182 482,713 Transfers Transfers to stage 2 (2,719 ) (1,525 ) 8,005 8,169 - - 11,930 Transfers to stage 3 (241 ) (2,697 ) - - 6,612 29,839 33,513 Transfers to stage 3 - - (5,541 ) (6,776 ) 22,705 17,475 27,863 Transfers to stage 1 167 553 (411 ) (3,402 ) - (3,093 ) Transfers to stage 2 - 330 1,854 (1,704 ) (6,776 ) (6,296 ) Transfers to stage 1 - 22 - - - (72 ) (50 ) Net changes of the exposure and modifications in the credit risk 4,105 3,770 2,740 2,855 1,251 29,253 43,974 Write-off - - - (37,439 ) (58,510 ) (95,949 ) Foreign Exchange adjustments and others (920 ) (6,646 ) (2,339 ) (1,167 ) 15,293 7,926 12,197 At December 31, 2018 30,189 43,541 31,066 24,574 198,115 179,317 506,802 b. Mortgage loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 9,258,962 447,496 444,523 10,150,981 Transfers Transfers to stage 2 (481,646 ) 481,646 - - Transfers to stage 3 (60,329 ) - 60,329 - Transfers to stage 3 - (333,706 ) 333,706 - Transfers to stage 1 361,293 (361,293 ) - - Transfers to stage 2 - 250,896 (250,896 ) - Transfers to stage 1 2,338 - (2,338 ) - Net changes on financial assets 1,131,941 (35,200 ) (24,539 ) 1,072,202 Write-off - - (34,184 ) (34,184 ) Foreign exchange adjustments and others 63,407 8,109 2,480 73,996 At 31 December 2019 10,275,966 457,948 529,081 11,262,995 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 9,006 15,102 67,162 91,270 Transfers Transfers to stage 2 (3,318 ) 3,318 - - Transfers to stage 3 (311 ) - 311 - Transfers to stage 3 - (12,598 ) 12,598 - Transfers to stage 1 13,849 (13,849 ) - - Transfers to stage 2 - 29,303 (29,303 ) - Transfers to stage 1 193 - (193 ) - Net changes of the exposure and modifications in credit risk (11,007 ) (6,825 ) 57,300 39,468 Write-off - - (34,184 ) (34,184 ) Foreign exchange adjustments and others 34 58 4,413 4,505 At 31 December 2019 8,446 14,509 78,104 101,059 An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 8,191,229 469,349 436,317 9,096,895 Transfers Transfers to stage 2 (87,473 ) 87,473 - - Transfers to stage 3 (64,949 ) - 64,949 - Transfers to stage 3 - (54,488 ) 54,488 - Transfers to stage 1 162,432 (162,432 ) - - Transfers to stage 2 - 79,159 (79,159 ) - Transfers to stage 1 2,612 - (2,612 ) - Net changes on financial assets 1,226,259 34,653 10,215 1,271,127 Write-off - - (31,664 ) (31,664 ) Foreign Exchange adjustments and others (171,148 ) (6,218 ) (8,011 ) (185,377 ) At December 31, 2018 9,258,962 447,496 444,523 10,150,981 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 14,602 20,227 73,190 108,019 Transfers Transfers to stage 2 (516 ) 3,846 - 3,330 Transfers to stage 3 (383 ) - 9,060 8,677 Transfers to stage 3 - (2,518 ) 8,056 5,538 Transfers to stage 1 263 (6,255 ) - (5,992 ) Transfers to stage 2 - 2,296 (10,185 ) (7,889 ) Transfers to stage 1 91 - (232 ) (141 ) Net changes of the exposure and modifications in the credit risk 1,601 575 (1,784 ) 392 Write-off - - (13,548 ) (13,548 ) Foreign Exchange adjustments and others (6,652 ) (3,069 ) 2,605 (7,116 ) At December 31, 2018 9,006 15,102 67,162 91,270 c. Consumer loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 4,727,464 295,132 300,193 5,322,789 Transfers Transfers to stage 2 (358,403 ) 358,403 - - Transfers to stage 3 (25,210 ) - 25,210 - Transfers to stage 3 - (248,494 ) 248,494 - Transfers to stage 1 130,611 (130,611 ) - - Transfers to stage 2 - 56,489 (56,489 ) - Transfers to stage 1 514 - (514 ) - Net changes on financial assets 430,777 (45,093 ) (3,605 ) 382,079 Write-off - - (223,919 ) (223,919 ) Foreign Exchange adjustments and others 57,294 6,892 1,060 65,246 At December 31, 2019 4,963,047 292,718 290,430 5,546,195 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 (*) 75,495 60,467 165,052 301,014 Transfers Transfers to stage 2 (28,717 ) 109,916 - 81,199 Transfers to stage 3 (1,633 ) - 11,699 10,066 Transfers to stage 3 - (78,909 ) 111,334 32,425 Transfers to stage 1 7,941 (32,506 ) - (24,565 ) Transfers to stage 2 - 17,002 (31,914 ) (14,912 ) Transfers to stage 1 47 - (233 ) (186 ) Net changes of the exposure and modifications in the credit risk 15,641 (25,712 ) 135,298 125,227 Write-off - - (223,919 ) (223,919 ) Foreign Exchange adjustments and others (1,378 ) 550 2,946 2,118 At December 31, 2019 67,396 50,808 170,263 288,467 (*) Include loans and ECL balances of the acquired Santander Consumer Chile S.A. An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 3,978,393 257,580 321,719 4,557,692 Transfers Transfers to stage 2 (46,936 ) 46,936 - Transfers to stage 3 (33,161 ) 33,161 - Transfers to stage 3 - (19,327 ) 19,327 - Transfers to stage 1 29,777 (29,777 ) - - Transfers to stage 2 - 17,988 (17,988 ) - Transfers to stage 1 37 - (37 ) - Net changes on financial assets 766,069 1,063 76,398 843,530 Write-off - - (115,933 ) (115,933 ) Foreign Exchange adjustments and others (352,439 ) (25,424 ) (31,137 ) (409,000 ) At December 31, 2018 4,341,740 249,039 285,510 4,876,289 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 72,712 54,557 170,090 297,359 Transfers Transfers to stage 2 (2,117 ) 14,655 - 12,538 Transfers to stage 3 (1,431 ) - 16,311 14,880 Transfers to stage 3 - (3,913 ) 10,721 6,808 Transfers to stage 1 1,320 (4,890 ) - (3,570 ) Transfers to stage 2 - 2,943 (9,107 ) (6,164 ) Transfers to stage 1 6 - (18 ) (12 ) Net changes of the exposure and modifications in the credit risk 3,782 (8,572 ) 42,194 37,404 Write-off - - (64,506 ) (64,506 ) Foreign Exchange adjustments and others (3,368 ) (408 ) (6,619 ) (10,395 ) At December 31, 2018 70,904 54,372 159,066 284,342 There were no changes to the assumptions used within the model. During 2019, the Bank completed an update of the 2018 Forward looking assessment, resulting in an increase of MCh$6.998 within the provision for loan losses. |
Loans and Accounts Receivable_2
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
LoansAndAccountReceivableAtFairValueThroughOtherComprehensiveIncome [Abstract] | |
LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | NOTE 10 LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME The Bank has decided to classify a portfolio at fair value through other comprehensive income (FVOCI) related to loans and account receivable with its major customer, when they request a credit operation which exceeds single client exposure under the Bank's credit risk policy. The risk committee approved the operation with the condition to sell a portion of the loan in the medium term, and meanwhile the Bank is looking for a buyer the portion is classified into this category. Additionally, the Bank includes operations which are expecting to sell or maintain, depending if market conditions are favorable, these loans are classified into this category according to management business model. This portfolio is initially measured at amortised cost and afterward is adjusted at fair value, recognising the adjustment in other comprehensive income, while the Bank do not sell the loan. The portfolio is assessed for impairment loss under the new ECL model, same as loans at amortised cost. An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as of December 31, 2019 is as follows: Stage1 Stage2 Stage3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 63,745 4,949 - 68,694 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes on financial assets 1,428 (4,914 ) - (3,486 ) Write-off - - - - Foreign Exchange adjustments and others 993 (35 ) - 958 At December 31, 2019 66,166 - - 66,166 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 88 18 - 106 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 65 (18 ) - 47 Write-off - - - - Foreign Exchange adjustments and others (52 ) - - (52 ) At December 31, 2019 101 - - 101 An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as of December 31, 2018 is as follows: Stage1 Stage2 Stage3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 107,998 - - 107,998 Transfers Transfers to stage 1 - - - - Transfers to stage 2 (6,697 ) 6,697 - - Transfers to stage 3 - - - - Net changes on financial assets (40,754 ) (1,821 ) - (42,575 ) Write-off - - - - Foreign Exchange adjustments and others 3,198 73 - 3,271 At December 31, 2018 63,745 4,949 - 68,694 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 97 - - 97 Transfers Transfers to stage 1 - - - - Transfers to stage 2 (17 ) 26 - 9 Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 8 (8 ) - - Write-off - - - - Foreign Exchange adjustments and others - - - - At December 31, 2018 88 18 - 106 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 88 18 - 106 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 65 (18 ) - 47 Write-off - - - - Foreign Exchange adjustments and others (52 ) - - (52 ) At 31 December 2019 101 - - 101 |
Debt Instruments at Fair Value
Debt Instruments at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instruments At Fair Value Through Other Comprehensive Income | |
DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | NOTE 11 DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME As of December 31, 2019 detail of debt instruments is as follows: As of December 31, 2019 2018 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds 272,802 657,096 Chilean central bank notes 1,186,724 56,719 Other Chilean central bank and government securities 1,908,031 1,207,221 Subtotal 3,367,557 1,921,036 of which sold under repurchase agreement 379,294 16,109 Other Chilean securities Time deposits in Chilean financial institutions 398 2,693 Mortgage finance bonds of Chilean financial institutions 16,748 19,227 Other instruments issued in the country 2,410 2,907 Subtotal 19,556 24,827 of which sold under repurchase agreement 131 128 Foreign financial securities Foreign Central Banks and Government securities 197,685 280,622 Other foreign financial securities 425,474 167,838 Subtotal 623,159 448,460 of which sold under repurchase agreement - - Total 4,010,272 2,394,323 As of December 31, 2019 "Chilean central bank and government securities" guarantee derivatives transactions through Comder Contraparte Central S,A, in the local market as of December 31, 2019 and 2018 Ch$65,140 and Ch$42,910, while "Foreign financial securities" guarantee derivatives transactions through London Clearing House (LCH) as of December 31, 2019 and 2018 Ch$73,109 and Ch$58,892. Additionally, the Bank maintains guarantees with Euroclear as of December 31, 2019 and 2018 Ch$390,954 and Ch$98,832 to comply with the initial margin required by European EMIR standard. As of December 31, 2019 fair value through OCI included a cumulative net unrealised income of Ch$29,184 million, recoded as "valuation adjustment" in OCI, of which Ch$28,135 million are attributable to shareholders and Ch$1,049 million to non-controlling interest. An analysis of changes in the fair value and the corresponding ECL as of December 31, 2019 is as follows: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL Gross carrying amount at January 1, 2019 2,394,323 - - 2,394,323 New assets purchased 7,573,665 - - 7,573,665 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (5,694,456 ) - - (5,694,456 ) Changes due to modifications not derecognised 394,648 - - 394,648 Write-off - - - - Foreign Exchange adjustments and others (657,908 ) - - (657,908 ) At December 31, 2019 4,010,272 - - 4,010,272 Stage1 Stage2 Stage3 Collective Collective Collective TOTAL ECL at January 1, 2019 258 - - 258 New assets purchased 816 - - 816 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (614 ) - - (614 ) Changes due to modifications not derecognised 67 - - 67 Write-off - - - - Foreign Exchange adjustments and others (71 ) - - (71 ) At December 31, 2019 456 - - 456 An analysis of changes in the fair value and the corresponding ECL as of December 31, 2018 is as follows: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL Gross carrying amount at January 1, 2018 2,574,546 - - 2,574,546 New assets purchased 5,037,857 - - 5,037,857 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (5,604,114 ) - - (5,604,114 ) Changes due to modifications not derecognised - - - - Write-off - - - - Foreign Exchange adjustments and others 386,034 - - 386,034 At December 31, 2018 2,394,323 - - 2,394,323 Stage1 Stage2 Stage3 Collective Collective Collective TOTAL ECL at January 1, 2018 324 - - 324 New assets purchased 634 - - 634 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (705 ) - - (705 ) Changes due to modifications not derecognised - - - - Write-off - - - - Foreign Exchange adjustments and others 5 - - 5 At December 31, 2018 258 - - 258 Gross profits and losses realized on the sale of available for sale investments as of December 31, 2019, 2018 and 2017 is as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 5,781,636 3,505,266 6,469,344 Realized profits 63,828 8,802 4,867 Sale of available for sale investments generating realized losses 607,349 709,371 466,732 Realized losses 156 6,004 3 The Bank evaluated those instruments with unrealized losses as of December 31, 2019 and 2018 and concluded they were not impaired. This review consisted of evaluating the economic reasons for any declines, the credit ratings of the securities' issuers, and the Bank's intention and ability to hold the securities until the unrealized loss is recovered. Based on this analysis, the Bank believes that there were no significant or prolonged declines nor changes in credit risk which would cause impairment in its investment portfolio, since most of the decline in fair value of these instruments was caused by market conditions which the Bank considers to be temporary. All of the instruments that have unrealized losses as of December 31, 2019 and 2018, were not in a continuing unrealized loss position for more than one year. The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2019: Less than 12 months More than 12 months Total Amortized Fair Unrealized Unrealized loss Amortized Fair Unrealized Unrealized loss Amortized Fair Unrealized Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 270,979 272,802 3,600 (1,777 ) - - - - 270,979 272,802 3,600 (1,777 ) Chilean central bank notes 1,186,487 1,186,724 237 - - - - - 1,186,487 1,186,724 237 - Other Chilean central bank and government securities 1,895,367 1,908,031 38,002 (25,338 ) - - - - 1,895,367 1,908,031 38,002 (25,338 ) Subtotal 3,352,833 3,367,557 41,839 (27,115 ) - - - - 3,352,833 3,367,557 41,839 (27,115 ) Other Chilean securities Time deposits in Chilean financial institutions 398 398 - - - - - - 398 398 - - Mortgage finance bonds of Chilean financial institutions 15,962 16,748 786 - - - - - 15,962 16,748 786 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 407 2,410 2,003 - - - - - 407 2,410 2,003 - Subtotal 16,767 19,556 2,789 - - - - - 16,767 19,556 2,789 - Foreign financial securities Foreign central banks and government securities 198,020 197,685 11,110 (11,445 ) - - - - 198,020 197,685 11,110 (11,445 ) Other foreign financial securities 413,468 425,474 13,080 (1,074 ) - - - - 413,468 425,474 13,080 (1,074 ) Subtotal 611,488 623,159 24,190 (12,519 ) - - - - 611,488 623,159 24,190 (12,519 ) Total 3,981,088 4,010,272 68,818 (39,634 ) - - - - 3,981,088 4,010,272 68,818 (39,634 ) The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2018: Less than 12 months More than 12 months Total Amortized Fair Unrealized Unrealized Amortized Fair value Unrealized Unrealized Amortized Fair Unrealized Unrealized MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 658,013 657,096 3,698 (4,615 ) 658,013 657,096 3,698 (4,615 ) Chilean central bank notes 56,737 56,719 10 (27 ) 56,737 56,719 10 (27 ) Other Chilean central bank and government securities 1,196,819 1,207,220 10,689 (262 ) 1,196,819 1,207,220 10,689 (262 ) Subtotal 1,911,569 1,921,035 14,397 (4,904 ) 1,911,569 1,921,035 14,397 (4,904 ) Other Chilean securities Time deposits in Chilean financial institutions 2,691 2,693 1 - 2,691 2,693 1 - Mortgage finance bonds of Chilean financial institutions 19,010 19,227 426 (209 ) 19,010 19,227 426 (209 ) Chilean financial institution bonds - - - - - - - - Chilean corporate bonds - - - - - - - - Other Chilean securities 220 2,907 2,687 - 220 2,907 2,687 - Subtotal 21,921 24,827 3,114 (209 ) 21,921 24,827 3,114 (209 ) Foreign financial securities Foreign central banks and government securities 280,021 280,622 602 - 280,021 280,622 602 - Other foreign financial securities 174,387 167,837 - (6,575 ) 174,387 167,837 - (6,575 ) Subtotal 454,408 448,459 602 (6,575 ) 454,408 448,459 602 (6,575 ) Total 2,387,898 2,394,322 18,112 (11,688 ) 2,387,898 2,394,322 18,112 (11,688 ) |
Investments in Associates and o
Investments in Associates and other Companies | 12 Months Ended |
Dec. 31, 2019 | |
Investments In Associates And Other Companies | |
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES | NOTE 12 INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES a) Investments in associates and other, are shown in the following table: Investment Ownership interest Profit and loss 2019 2018 2017 2019 2018 2017 2019 2018 2017 Company Redbanc S.A. (*) - 33,43 33,43 - 2,822 2,537 - - - Transbank S.A. (*) - 25,00 25,00 - 17,651 14,534 - - - Centro de Compensación Automatizado S.A. 33,33 33,33 33,33 2,184 1,894 1,589 293 305 236 Sociedad Interbancaria de Depósito de Valores S.A. 29,29 29,29 29,29 1,485 1,233 1,087 252 223 235 Cámara de Compensación de Alto 15,00 15,00 15,00 958 945 909 29 58 66 Administrador Financiero del Transantiago S.A. 20,00 20,00 20,00 3,986 3,680 3,098 390 582 317 Sociedad Nexus S.A. (*) - 12,90 12,90 - 2,279 1,911 - - - Servicios de Infraestructura de Mercado OTC S.A. 12,07 12,48 12,48 1,556 1,491 1,489 60 57 115 Subtotal 10,169 31,995 27,154 1,024 1,225 969 Shares or rights in other companies Bladex - - 136 13 19 25 Stock Exchanges - - 287 109 148 150 Others 8 8 8 - (67 ) - Total 10,177 32,003 27,585 1,146 1,325 1,144 (*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, therefore, the treatment established in IFRS 5 "Non-current assets held for sale and discontinued operations" has been applied, on the participation of said companies, which is described in Note 1 v) and Note 39. (1) In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A.", the Bank's share increased to 15,00%. As described in Note 1 g), the Bank has irrevocably designated its shares in Bladex and Stock exchange at fair value through other comprehensive income (FVOCI) Related dividends are recognised in the income statements under "Income from investments in associates and other companies". The fair value of these equity investments is as follows: December 31, 2019 2018 MCh$ MCh$ Bladex 328 329 Stock exchange 154 154 Total 482 483 b) Summary of financial information of associates as of and for the years ended December 31, 2019, 2018 and 2017: As of December 31, 2019 2018 2017 Assets Liabilities Equity Net income Assets Liabilities Equity Net income Assets Liabilities Equity Net income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Redbanc S.A. 23,413 14,106 8,441 866 20,825 12,469 7,505 851 21,235 13,751 6,428 1,056 Transbank S.A. 1,217,448 1,133,441 70,605 13,402 904,558 835,200 56,888 12,470 822,487 765,683 48,709 8,095 Centro de Compensación Automatizado S.A. 8,550 1,998 5,671 881 7,073 1,480 4,677 916 6,871 2,174 3,989 708 Sociedad Interbancaria de Depósito de Valores S.A. 5,074 4 4,209 861 4,392 230 3,400 762 3,720 60 2,858 802 Cámara de Compensación de Alto Valor S.A. 7,372 986 6,193 193 6,728 622 5,722 384 6,338 500 5,399 439 Administrador Financiero del Transantiago S.A. 54,712 34,787 17,978 1,947 55,818 37,419 15,490 2,909 51,304 35,814 13,907 1,583 Sociedad Nexus S.A. 31,147 13,471 17,660 16 35,139 18,335 13,955 2,849 32,669 18,888 10,354 3,427 Servicios de Infraestructura de Mercado OTC S.A. 15,152 2,682 11,993 477 25,273 13,313 11,506 454 17,913 6,414 10,963 536 Total 1,362,868 1,201,475 142,750 18,643 1,059,806 919,068 119,143 21,595 962,537 843,284 102,607 16,646 c) Restrictions over the ability of associated companies to transfer funds to investors. There are no significant restrictions regarding the capacity of associates to transfer funds, whether in cash dividends, refund of loans, or advance payments to the Bank. d) Activity with respect to investments in other companies during 2019, 2018 and 2017 is as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Opening balance as of January 1, 32,003 27,585 23,780 Acquisition of investments - - 3 Sale of investments - - - Participation in income 1,146 1,325 1,144 Dividends received (130 ) (38 ) (116 ) Other adjustments (22,842 ) 3,131 2,774 Total 10,177 32,003 27,585 (*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, As such, these investment have been reclassified to held for sale and presented under Other assets in the Consolidated Statement of Financial Position. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets | |
INTANGIBLE ASSETS | NOTE 13 INTANGIBLE ASSETS a. As of December 31, 2019 and 2018, the composition of intangible assets is as follows: As of December 31, 2019 Average remaining useful life Net opening balance as of January 1, 2019 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses - 82 35,997 (35,997 ) - Software development 2 66,841 214,005 (140,616 ) 73,389 Total 66,923 250,002 (176,613 ) 73,389 As of December 31, 2018 Average remaining useful life Net opening balance as of January 1, 2018 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 1 1,200 37,224 (37,142 ) 82 Software development 2 62,019 181,191 (114,350 ) 66,841 Total 63,219 218,415 (151,492 ) 66,923 b. The changes in the value of intangible assets during the periods ended December 31, 2019 and December 31, 2018 is as follows: b.1 Gross balance Gross balances Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 37,224 181,191 218,415 Acquisitions - 32,860 32,860 Disposals and impairment (1,227 ) - (1,227 ) Other - (46 ) (46 ) Balances as of December 31, 2019 35,997 214,005 250,002 Balances as of January 1, 2018 37,224 159,833 197,057 Acquisitions - 29,562 29,562 Disposals and impairment - (8,204 ) (8,204 ) Other - - - Balances as of December 31, 2018 37,224 181,191 218,415 b.2 Accumulated amortization Accumulated amortization Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 (37,142 ) (114,350 ) (151,492 ) Year's amortization (82 ) (26,266 ) (26,348 ) Other changes 1,227 - 1,227 Balances as of December 31, 2019 (35,997 ) (140,616 ) (176,613 ) Balances as of January 1, 2018 (36,918 ) (96,922 ) (133,840 ) Year's amortization (224 ) (24,069 ) (24,293 ) Other changes - 6,641 6,641 Balances as of December 31, 2018 (37,142 ) (114,350 ) (151,492 ) c. The Bank has no restriction on intangible assets as of December 31, 2019 and 2018. Additionally, intangible assets have not been pledged as guarantee for fulfillment of financial liabilities. Also, the Bank has no debt related to Intangible assets as of those dates. |
Fixed Assets and Right of Use A
Fixed Assets and Right of Use Assets and Lease Liability | 12 Months Ended |
Dec. 31, 2019 | |
Fixed Assets And Right Of Use Assets And Lease Liability | |
FIXED ASSETS AND RIGHT OF USE ASSETS AND LEASE LIABILITY | FIXED ASSETS AND RIGHT OF USE ASSETS AND LEASE LIABILITY a. As of December 31, 2019 and 2018, the composition of property, plant, and equipment balances are composed as follows: As of December 31, 2019 Net opening balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 174,758 295 (121,338 ) 174 Equipment 56,865 219,600 (164,106 ) 55,494 Other 21,963 69,758 (47,552 ) 22,206 Total 253,586 585,342 (332,996 ) 252,346 As of December 31, 2018 Net opening balance as of January 1, 2018 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 159,352 289,568 (114,810 ) 174,758 Equipment 63,516 192,328 (135,463 ) 56,865 Other 15,458 62,156 (40,193 ) 21,963 Total 238,326 544,052 (290,466 ) 253,586 b. The changes in the value of property, plant, and equipment as of December 31, 2019 and 2018 is as follows: b.1 Gross balance 2019 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 289,568 192,328 62,156 544,052 Additions 10,065 33,302 7,602 50,969 Disposals (2,636 ) (6,030 ) - (8,666 ) Impairment due to damage (*) (1,013 ) - - (1,013 ) Other - - - - Balances as of December 31, 2019 295,984 219,600 69,758 585,342 (*) Banco Santander-Chile have recognized in its consolidated financial statements as of December 31, 2019 an impairment of $ 1,013 million, due to social unrest in the country. 2018 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2018 259,316 169,286 55,613 484,215 Additions 30,396 27,697 8,646 66,739 Disposals (144 ) (4,616 ) (2,103 ) (6,863 ) Impairment due to damage - (39 ) - (39 ) Other - - - - Balances as of December 31, 2018 289,568 192,328 62,156 544,052 (*) Banco Santander-Chile has had to recognize in its financial statements as of December 31, 2018 impairment by $ 39 million, corresponding to looting in ATM's. b.2 Accumulated depreciation 2019 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (114,810 ) (135,463 ) (40,193 ) (290,466 ) Depreciation charges in the period (16,018 ) (29,968 ) (6,869 ) (52,855 ) Sales and disposals in the period 9,490 1,325 - 10,815 Other - - (490 ) (490 ) Balances as of December 31, 2019 (121,338 ) (164,106 ) (47,552 ) (332,996 ) 2018 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2018 (97,267 ) (109,843 ) (34,558 ) (241,668 ) Depreciation charges in the period (17,585 ) (25,660 ) (5,635 ) (48,880 ) Sales and disposals in the period 42 40 - 82 Other - - - - Balances as of December 31, 2018 (114,810 ) (135,463 ) (40,193 ) (290,466 ) c. The composition of the right of use assets as of December 31, 2019 and January 1, 2019 is as follows: As of December 31, 2019 First application balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 154,284 181,325 (25,338 ) 155,987 Equipment - - - - Other - - - - Total 154,284 181,325 (25,338 ) 155,987 d. The movement of the right of use assets under lease during the 2019 period, is as follows: d.1) Gross balance 2019 Land and building Lease improvements Equipment Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (*) 154,284 122,658 - - 154,284 Additions 46,423 7,013 - - 46,423 Disposals (17,669 ) (2,636 ) - - (17,669 ) Impairment (1,713 ) - - - (1,713 ) Other - - - - - Balances as of December 31, 2019 181,325 127,035 - - 181,325 (*) See Note N° 02. d.2) Accumulated amortization 2019 Land and building Lease improvements Equipment Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (*) - (68,145 ) Amortization for the period (26,889 ) (7,898 ) - - (26,889 ) Sales and disposals during the period 1,551 1,936 - - 1,551 Transfers - - - - - Others - - - - - Balances as of December 31, 2019 (25,338 ) (74,107 ) - - (25,338 ) (*) See Note N° 02. e. Lease liability: As of December 31, 2019 and 2018, the composition of lease liability balances are composed as follows: As of December 31, 2019 2018 MCh$ MCh$ Lease liability 158,494 - Total 158,494 - An explanation of the difference between operating lease commitment under IAS 17 at December 31, 2018 and initial application of IFRS 16 as of January 1, 2019 is as follows: MCh$ Operating lease commitments as at December 31, 2018 173,602 Discounted using the lessee´s incremental borrowing rate of at the date of initial application 14,726 Lease liabilities recognised due to IFRS 16 implementation 139,558 Lease liability recognised as at January 1, 2019 154,284 f. Expenses associated with assets for the right of use leased assets and lease liability As of December 31, 2019 2018 MCh$ MCh$ Depreciation (26,889 ) - Interests (2,965 ) - Short term lease (4,177 ) - Total (34,031 ) - g. As of December 31, 2019 and 2018, the maturity level of the lease liability, according to their contractual maturity is as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 26,061 - Due after 1 year but within 2 years 24,311 - Due after 2 years but within 3 years 21,667 - Due after 3 years but within 4 years 19,411 - Due after 4 years but within 5 years 16,982 - Due after 5 years 50,062 - Total 158,494 - h. Operational leases – lessor As of December 31, 2019 and 2018, the future minimum lease cash inflows under non-cancellable operating leases are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 603 469 Due after 1 year but within 2 years 598 882 Due after 2 years but within 3 years 500 469 Due after 3 years but within 4 years 498 460 Due after 4 years but within 5 years 412 428 Due after 5 years 1,563 2,242 Total 4,174 4,950 i. As of December 31, 2019 and 2018, the Bank has no financial leases which cannot be unilaterally rescinded. j. The Bank has no restriction on property, plant and equipment as of December 31, 2019 and 2018. Additionally, the property, plant and equipment have not been provided as guarantees of financial liabilities. The Bank has no debt in connection with property, plant and equipment. |
Current and Deferred Taxes
Current and Deferred Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Current and Deferred Taxes [Abstract] | |
CURRENT AND DEFERRED TAXES | CURRENT AND DEFERRED TAXES a) Current taxes As of December 31, 2019 and 2018, the Bank recognises taxes payable (recoverable), which is determined based on the currently applicable tax legislation, This amount is recorded net of recoverable taxes, and is shown as follows: As of December 31, 2019 2018 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) (11,648 ) - Current tax liabilities - 8,093 Total tax payable (recoverable) (11,648 ) 8,093 (Assets) liabilities current taxes detail (net) Income tax, tax rate 153,424 196,527 Minus: Provisional monthly payments (159,943 ) (186,060 ) Credit for training expenses (2,145 ) (1,937 ) Land taxes leasing - Grant credits (1,149 ) (1,320 ) Other (1,835 ) 883 Total tax payable (11,648 ) 8,093 b) Effect on income The effect of income tax expense on income for the years ended December 31, 2019, 2018 and 2017 is comprised of the following items: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Income tax expense Current tax 153,424 196,527 145,112 Credits (debits) for deferred taxes Origination and reversal of temporary differences 37,432 (25,517 ) (6,751 ) Valuation provision - (56 ) 5,955 Subtotals 190,856 170,954 144,316 Tax for rejected expenses (Article No21) 927 1,110 610 Other (16,709 ) (4,920 ) 105 Net charges for income tax expense 175,074 167,144 145,031 c) Effective tax rate reconciliation The reconciliation between the income tax rate and the effective rate applied in determining tax expenses as of December 31, 2019, 2018 and 2017, is as follows: For the year ended December 31, 2019 2018 2017 Tax Tax Tax rate Amount rate Amount rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 27.00 214,566 27.00 207,046 25.50 183,671 Price level restatement for tax purposes (1) (6.33 ) (50,297 ) (5.15 ) (39,494 ) (3.03 ) (21,829 ) Single penalty tax (rejected expenses) 0.12 927 0.14 1,110 0.08 610 Effect of tax reform changes on deferred tax (2) - - - - (2.86 ) (20,600 ) Real estate taxes - - - - - - Other 1.24 9,878 (0.20 ) (1,518 ) 0.44 3,179 Effective tax rates and expenses for income tax 22.03 175,074 21.79 167,144 20.13 145,031 (1) Mainly corresponds to the permanent differences originated from the Own Tax Monetary Correction and the effect of the bonds received to article 104 of LIR. d) Effect of deferred taxes on comprehensive income Below is a summary of the separate effect of deferred tax on other comprehensive income, showing the asset and liability balances, for the years ended December 31, 2019 and 2018: As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Debt instruments at FVOCI 8,074 1,166 Cash flow hedges 10,918 65 Total deferred tax assets recognised through other comprehensive income 18,992 1,231 Deferred tax liabilities Available for sale investments - - Debt instruments at FVOCI (15,830 ) (2,976 ) Cash flow hedges - (2,711 ) Total deferred tax liabilities recognised through other comprehensive income (15,830 ) (5,687 ) Net deferred tax balances in equity 3,162 (4,456 ) Deferred taxes in equity attributable to shareholders of the Bank 3,444 (4,102 ) Deferred tax in equity attributable to non-controlling interests (282 ) (354 ) e) Effect of deferred taxes on income As of December 31, 2019 and 2018, the Bank has recorded effects for deferred taxes in the financial statements: As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Interests and adjustments 9,531 9,384 Non-recurring charge-offs 15,325 13,389 Assets received in lieu of payment 1,214 785 Exchange rate adjustments - 1,675 Property, plant and equipment valuation 6,381 6,138 Allowance for loan losses 188,956 184,488 Provision for expenses 89,098 63,134 Derivatives - 3,924 Leased assets 116,226 107,897 Subsidiaries tax losses 5,416 5,314 Prepaid expenses - 156 Right of use assets 249 - Total deferred tax assets 432,396 396,284 Deferred tax liabilities Valuation of investments (17,518 ) (42 ) Prepaid expenses (20,347 ) (349 ) Depreciation - - Valuation provision (6,058 ) (5,989 ) Derivatives (36,512 ) - Exchange rate adjustments (2,817 ) (3,383 ) Other (75 ) (20 ) Total deferred tax liabilities (83,327 ) (9,783 ) f) Summary of deferred tax assets and liabilities Below is a summary of the deferred taxes impact on equity and income, As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Recognised through other comprehensive income 18,992 1,231 Recognised through profit or loss 432,396 396,284 Total deferred tax assets 451,388 397,515 Deferred tax liabilities Recognised through other comprehensive income (15,830 ) (5,687 ) Recognised through profit or loss (83,327 ) (9,783 ) Total deferred tax liabilities (99,157 ) (15,470 ) |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2019 | |
Other Assets | |
OTHER ASSETS | NOTE 16 OTHER ASSETS Other assets item includes the following: As of December 31, 2019 2018 MCh$ MCh$ Assets for leasing (1) 67,139 47,486 Assets received or awarded in lieu of payment Assets received in lieu of payment 18,755 17,525 Assets awarded at judicial sale 22,177 21,524 Provision on assets received in lieu of payment or awarded (2,042 ) (723 ) Subtotal 38,890 38,326 Other assets Guarantee deposits (margin accounts) (2) 314,616 170,232 Non-current assets classified as held for sale (4) 22,394 - Gold investments 680 522 VAT credit 22,663 9,097 Income tax recoverable 1,787 1,756 Prepaid expenses 432,030 477,819 Assets recovered from leasing for sale 3,575 6,848 Valuation adjustments by macro hedge (5) 210,867 9,414 Pension plan assets 670 846 Accounts and notes receivable 147,108 59,511 Notes receivable through brokerage and simultaneous transactions 43,354 71,382 Other receivable assets 44,262 48,612 Other assets (3) 89,111 49,365 Subtotal 1,333,117 905,404 Total 1,439,146 991,216 (1) Assets available to be granted under the financial leasing agreements. (2) Guarantee deposits (margin accounts) correspond to collateral associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. (3) Other assets mainly include settlement of derivatives and other financial transactions. (4) Corresponds to the interests in Redbanc S.A., Transbank S.A. and Nexus S.A., which have been reclassified as non-current assets classified as held for sale in accordance with IFRS 5 "Non-current assets held for sale and discontinued operations ", for additional information see Note 1 v) and Note 39. (5) Net assets and liabilities fair value valuation subject to macro hedges. See Note 8 |
Time Deposits and Other Time Li
Time Deposits and Other Time Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
TIME DEPOSITS AND OTHER TIME LIABILITIES | NOTE 17 TIME DEPOSITS AND OTHER TIME LIABILITIES As of December 31, 2019 and 2018, the composition of the line item time deposits and other liabilities is as follows: As of December 31, 2019 2018 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 8,093,108 6,794,132 Other deposits and demand accounts 741,103 709,711 Other demand liabilities 1,463,221 1,237,574 Subtotal 10,297,432 8,741,417 Time deposits and other time liabilities Time deposits 13,064,932 12,944,846 Time savings account 123,787 118,587 Other time liabilities 4,098 4,386 Subtotal 13,192,817 13,067,819 Total 23,490,249 21,809,236 |
Interbank Borrowings
Interbank Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Interbank Borrowings | |
INTERBANK BORROWINGS | INTERBANK BORROWINGS As of December 31, 2019 and 2018 the line item Interbank borrowings is as follows: As of December 31, 2019 2018 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile Other obligations with Central Bank of Chile - - Subtotal - - Loans from domestic financial institutions 286,603 - Loans from foreign financial institutions Bank of America N.A. US Foreign 355,051 38,906 Citibank N.A. 269,841 - Mizuho Bank Ltd Ny 269,404 223,829 Wells Fargo Bank N.A. 231,823 - Sumitomo Mitsui Banking Corporation 179,415 278,765 Standard Chartered Bank 153,373 50,960 The Bank of Nova Scotia 134,819 163,927 The Bank of New York Mellon 119,616 69,921 Barclays Bank Plc London 98,803 34,965 Corporacion Andina De Fomento 75,097 52,371 Zürcher Kantonalbank 75,002 - The Toronto Dominion Bank 71,191 - Hsbc Bank Plc 69,786 34,936 Bank of Montreal 56,123 31 State Bank of India 28,231 331 Banco Latinoamericano De Comercio 18,731 - Banco Santander Brasil S.A. 7,873 8,040 Banco Santander Hong Kong 3,697 6,047 Standard Chartered Bank 3,613 843 Bank of China 952 7,777 Industrial and Commercial Bank 898 30 Banco Santander Central Hispano 848 1,295 Korea Exchange Bank 761 - Hong Kong and Shanghai Banking 684 1,300 China Merchants Bank 597 - Unicredito Italiano Spa 583 1,117 Banco Bilbao Vizcaya Argentaria 571 888 Rabobank, Hong Kong Branch 477 - Bbva Bancomer, S.A. 553 - Kbc Bank Nv 406 - Bank of Communications 385 - Bank of The West 261 - Danske Bank A/S 224 - Deutsche Bank A.G. 193 5,558 Kookmin Bank 185 - Caixabank S.A. 166 - E, Sun Commercial Bank Ltd. 159 - Bank of Tokio Mitsubishi 156 1,032 Woori Bank 155 - Agricultural Bank of China 152 106 Bank of Taiwan 135 127 Shinhan Bank 133 - Taiwan Cooperative Bank 131 - Keb Hana Bank 119 - United Bank of India 113 378 Banca Di Credito Cooperativo A 112 - Joint Stock Commercial Bank Fo. 110 33 Banca Nazionale Del Lavoro S.P. 106 77 Hua Nan Commercial Bank Ltd. 102 164 Industrial Bank of Korea 96 195 Banco Bradesco S.A. 84 89 Bank of Ningbo 83 - Bank of East Asia, Limited 82 205 Hdfc Bank Limited 72 - China Everbright Bank 70 - Cassa Di Risparmio Di Parma E 69 - Mizuho Corporate Bank Ltd. 67 - Banco Bpm Spa 66 21 Canara Bank 66 - Banco Comercial Portugues 63 - Caixa Destalvis I Pensions de Barcelona 63 - Shanghai Pudong Development Ba 59 237 Subtotal 2,232,856 1,284,501 As of December 31, 2019 2018 MCh$ MCh$ Loans from foreign financial institutions, continued Banca Monte dei Paschi di Siena 58 179 Banca Commerciale Italiana S.P. 50 288 Fortis Bank S.A./N.V. Brussels 50 42 Habib Bank Limited 38 - Kasikornbank Public Company Li 33 - Banco Rio De La Plata S.A. 24 - Australia And New Zealand Bank 23 - Banco de la Republica Oriental 23 41 Citic Industrial Bank 19 - Shangai Pudong Development Ban 14 - Banco Caixa Geral 10 - Bank of Baroda 9 37 Shanghai Commercial and Saving 6 33 Hsbc Bank USA 2 394 Akbank T,A,S, - 106 Banca Lombarda E Piemontese S. - 60 Banca Popolare Dell'Emilia Rom - 31 Banca Popolare Di Milano S.C.A. - 6 Banco Commerzbank - 19 Banco de Galicia Y Buenos Aires - 231 Banco De Sabadell S.A. - 20 Banco Internacional S.A. - 33 Banco Itau S.A. - 14 Banistmo S.A. - 32 Bank of India - 51 Bank of Shanghai - 134 Bankinter S.A. - 24 Banque Bruxelles Lambert S.A. - 509 Bnp Paribas, Hong Kong Branch - 3,554 Caixabank S.A. - 44 Cajas Rurales Unidas - 18 Canara Bank - 237 Casa Di Risparmo De Padova E.R. - 30 Cassa Di Risparmio In Bologna - 21 Chang Hwa Commercial Bank Ltd. - 18 China Construcción Bank - 35 Citibank N.A. - 241,041 Credit Agricole - 106 Credit Lyonnais - 139 Development Bank of Singapore - 3 Dexia Bank SA - 789 First Union National Bank - 201 Hang Seng Bank (China) Limited - 6 Hanvit Bank - 58 Hdfc Bank Limited - 28 Hsbc Bank Middle East - 77 International Commercial Bank - 70 Kbc Bank Nv - 23 Keb Hana Bank - 2,318 Kookmin Bank - 78 Mega International Commercial - 9 Metropolitan Bank Limited - 170 Oriental Bank of Commerce - 87 Rabobank, Hong Kong Branch - 1,548 Raiffeisen Bank Polska S.A. - 31 Shinhan Bank - 380 Taiwan Business Bank - 19 Taiwan Cooperative Bank - 66 U,S, Bank (Formerly First Bank) - 18 United World Chinese Commercial Bank - 15 Wachovia Bank N.A. - 33,499 Wells Fargo Bank N.A. - 216,749 Woori Bank - 356 Subtotal 359 504,125 Total 2,519,818 1,788,626 a) Loans from domestic financial institutions These obligations' maturities are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 158,855 - Due within 1 and 2 year 117,344 - Due within 2 and 3 year 8,167 - Due within 3 and 4 year 2,237 - Due after 5 years - - Total loans from domestic financial institutions 286,603 - b) Foreign obligations As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 1,970,790 1,648,955 Due within 1 and 2 year 225,025 139,671 Due within 2 and 3 year 37,400 - Due within 3 and 4 year - - Due after 5 years - - Total loans from foreign financial institutions 2,233,215 1,788,626 |
Issued Debt Instruments and Oth
Issued Debt Instruments and Other Financial Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Issued Debt Instruments and Other Financial Liabilities [Abstract] | |
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES | NOTE 19 ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES As of December 31, 2019 and 2018, composition of this item is as follows: As of December 31, 2019 2018 MCh$ MCh$ Other financial liabilities Obligations to public sector 9,198 32,449 Other domestic obligations 204,705 175,210 Foreign obligations 12,455 7,741 Subtotals 226,358 215,400 Issued debt instruments Mortgage finance bonds 18,502 25,490 Senior bonds 8,574,213 7,198,865 Mortgage bond 89,924 94,921 Subordinated bonds 818,084 795,957 Subtotals 9,500,723 8,115,233 Total 9,727,081 8,330,633 Debts classified as current are either demand obligations or will mature in one year or less. All other debts are classified as non-current, The Bank's debts, both current and non-current, are summarized below: As of December 31, 2019 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 6,013 12,489 18,502 Senior bonds 2,078,202 6,496,011 8,574,213 Mortgage bond 5,137 84,787 89,924 Subordinated bonds - 818,084 818,084 Issued debt instruments 2,089,352 7,411,371 9,500,723 Other financial liabilities 226,033 325 226,358 Total 2,315,385 7,411,696 9,727,081 As of December 31, 2018 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 6,830 18,660 25,490 Senior bonds 844,898 6,353,967 7,198,865 Mortgage bond 4,833 90,088 94,921 Subordinated bonds 1 795,956 795,957 Issued debt instruments 856,562 7,258,671 8,115,233 Other financial liabilities 205,871 9,529 215,400 Total 1,062,433 7,268,200 8,330,633 a) Mortgage finance bonds These bonds are used to finance mortgage loans. Their principal amounts are amortised on a quarterly basis, The range of maturities of these bonds is between five and twenty years, Loans are indexed to UF and create a yearly interest yield of 5.39% as of December 31, 2019 (5.43% as of December 31, 2018). As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 6,013 6,830 Due after 1 year but within 2 years 4,944 5,946 Due after 2 year but within 3 years 3,928 5,034 Due after 3 year but within 4 years 2,442 3,997 Due after 4 year but within 5 years 1,005 2,480 Due after 5 years 170 1,203 Total mortgage bonds 18,502 25,490 b) Senior bonds The following table shows senior bonds by currency: As of December 31, 2019 2018 MCh$ MCh$ Santander bonds in UF 4,814,604 4,095,741 Santander bonds in USD 1,649,238 1,094,267 Santander bonds in CHF 499,485 386,979 Santander bonds in Ch$ 1,242,633 1,291,900 Santander bonds in AUD 124,748 24,954 Current bonds in JPY 77,797 191,598 Santander bonds in EUR 165,708 113,426 Total senior bonds 8,574,213 7,198,865 i. Placement of senior bonds: In 2019, the Bank issued bonds for UF 29,678,000; CLP 115,000,000,000; EUR 30,000,000; AUD 160,000,000 and CHF 250,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series Series maximum Maturity date T7 UF 5,000,000 4 2,50% 02-01-2016 5,000,000 02-01-2023 T8 UF 5,678,000 4 y 6 2,55% 02-01-2016 5,678,000 08-01-2023 T14 UF 9,000,000 8 2,80% 02-01-2016 18,000,000 02-01-2027 T6 UF 5,000,000 10 1,70% 11-01-2018 5,000,000 05-01-2029 T10 UF 5,000,000 5 y 4 2,60% 02-01-2016 5,000,000 08-01-2024 Total UF 29,678,000 38,678,000 U9 CLP 75,000,000,000 2 y 8 ICP + 0,80% yearly 11-01-2018 75,000,000,000 11-19-2021 P-5 CLP 75,000,000,000 2 y 7 5,3% yearly 03-01-2015 150,000,000,000 03-01-2022 Total CLP 150,000,000,000 225,000,000,000 EUR EUR 30,000,000 7 1,10% 02-01-2019 40,000,000 02-07-2026 EUR EUR 25,000,000 5 1,25% 11-26-2019 25,000,000 11-26-2034 Total EUR 55,000,000 65,000,000 AUD AUD 22,000,000 15 3,66% yearly 05-20-2019 22,000,000 05-20-2034 AUD AUD 20,000,000 5 1,13% yearly 07-11-2019 20,000,000 07-11-2024 AUD AUD 28,000,000 5 1,13% yearly 07-17-2019 28,000,000 07-17-2024 AUD AUD 15,000,000 5 1,13% yearly 07-17-2019 15,000,000 07-17-2024 AUD AUD 75,000,000 20 3,05% yearly 08-30-2019 75,000,000 02-28-2039 AUD AUD 12,000,000 5 3,16% yearly 11-12-2019 12,000,000 11-20-2034 AUD AUD 13,000,000 5 2,91% yearly 11-21-2019 13,000,000 11-27-2034 Total 185,000,000 185,000,000 CHF CHF 150,000,000 5 y 6 0,38% yearly 03-12-2019 150,000,000 09-27-2024 CHF CHF 100,000,000 10 0,14% yearly 08-29-2019 100,000,000 08-29-2029 Total CHF 250,000,000 250,000,000 During 2019, the Bank performed a partial repurchase of the following bonds: Date Type Currency Amount 02-12-2019 Senior CLP 10,000,000,000 02-14-2019 Senior CLP 30,000,000,000 02-19-2019 Senior CLP 4,200,000,000 02-22-2019 Senior CLP 14,240,000,000 02-22-2019 Senior CLP 30,000,000 02-22-2019 Senior CLP 10,000,000 03-01-2019 Senior CLP 11,800,000,000 03-04-2019 Senior CLP 40,080,000,000 03-05-2019 Senior CLP 20,000,000,000 03-15-2019 Senior UF 156,000 03-19-2019 Senior UF 418,000 03-20-2019 Senior CLP 6,710,000,000 03-20-2019 Senior UF 154,000 03-21-2019 Senior UF 100,000 03-25-2019 Senior UF 100,000 03-26-2019 Senior UF 90,000 04-08-2019 Senior CLP 3,950,000,000 04-10-2019 Senior UF 409,000 04-16-2019 Senior UF 55,000 04-17-2019 Senior CLP 130,000,000 04-18-2019 Senior CLP 330,000,000 05-16-2019 Senior CLP 14,880,000,000 05-16-2019 Senior UF 9,000 06-13-2019 Senior UF 1,000 10-01-2019 Senior CLP 10,960,000,000 10-02-2019 Senior CLP 100,000,000 10-04-2019 Senior CLP 60,000,000 11-05-2019 Senior CLP 15,220,000,000 11-07-2019 Senior CLP 3,620,000,000 11-13-2019 Senior CLP 5,320,000,000 11-14-2019 Senior UF 2,977,000 11-28-2019 Senior UF 340,000 12-02-2019 Senior UF 105,000 In 2018, the Bank issued bonds for UF 23,000,000; CLP 225,000,000,000; USD 70,000,000, EUR 66,000,000, AUD 20,000,000; CHF 115,000,000 and JPY 7,000,000,000, detailed as follows: Series Currency Amount Term Issuance rate Series approval Series maximum Maturity date T1 UF 4,000,000 2 2,20% 02-01-2016 7,000,000 02-01-2020 T4 UF 4,000,000 3 2,35% 02-01-2016 8,000,000 08-01-2021 T11 UF 5,000,000 7 2,65% 02-01-2016 5,000,000 02-01-2025 T12 UF 5,000,000 7 2,70% 02-01-2016 5,000,000 08-01-2025 T15 UF 5,000,000 11 3,00% 02-01-2016 5,000,000 08-01-2028 Total UF 23,000,000 30,000,000 P5 CLP 75,000,000,000 4 5,30% 03-05-2015 150,000,000,000 03-01-2022 U4 CLP 75,000,000,000 3 y 4 ICP + 1,00% 01-10-2017 75,000,000,000 01-10-2022 U3 CLP 75,000,000,000 2 y 7 ICP + 1,00% 06-11-2018 75,000,000,000 06-11-2021 Total CLP 225,000,000,000 300,000,000,000 USD USD 50,000,000 10 4,17% 10-10-2018 50,000,000 10-10-2028 USD USD 20,000,000 2 0,03% 11-16-2018 20,000,000 11-16-2020 Total USD 70,000,000 70,000,000 EUR EUR 26,000,000 7 1,00% 05-04-2018 26,000,000 05-28-2025 EUR EUR 40,000,000 12 1,78% 06-07-2018 40,000,000 06-15-2030 Total EUR 66,000,000 66,000,000 AUD AUD 20,000,000 5 3,56% 11-13-2018 20,000,000 11-13-2023 Total AUD 20,000,000 20,000,000 CHF CHF 115,000,000 5 y 3 0,44% 09-21-2018 115,000,000 12-21-2023 Total CHF 115,000,000 115,000,000 JPY JPY 4,000,000,000 10 y 6 0,65% 07-13-2018 4,000,000,000 01-13-2029 JPY JPY 3,000,000,000 5 0.56% 10-30-2018 3,000,000,000 10-30-2023 Total JPY 7,000,000,000 7,000,000,000 During 2018, the Bank performed a partial repurchase of the following bond: Date Type Currency Amount 01-04-2018 Senior CLP 12,890,000,000 01-04-2018 Senior CLP 4,600,000,000 01-22-2018 Senior UF 24,000 04-05-2018 Senior UF 484,000 04-06-2018 Senior UF 184,000 04-23-2018 Senior UF 216,000 04-24-2018 Senior UF 4,000 04-25-2018 Senior UF 262,000 05-10-2018 Senior UF 800,000 06-07-2018 Senior USD 3,090,000 12-11-2018 Senior USD 250,000,000 ii. The maturities of senior bonds are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 2,078,202 844,898 Due after 1 year but within 2 years 1,147,825 1,331,255 Due after 2 year but within 3 years 1,221,393 1,073,847 Due after 3 year but within 4 years 742,238 1,104,547 Due after 4 year but within 5 years 1,278,746 421,918 Due after 5 years 2,105,809 2,422,400 Total senior bonds 8,574,213 7,198,865 c) Mortgage bonds Detail of mortgage bonds per currency is as follows: As of December 31, 2019 2018 MCh$ MCh$ Mortgage bonds in UF 89,924 94,921 Total mortgage bonds 89,924 94,921 i. Allocation of mortgage bonds During 2019 and 2018, the Bank has not placed any mortgage bonds. ii. The maturities of Mortgage bonds are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 5,137 4,833 Due after 1 year but within 2 years 8,248 7,758 Due after 2 year but within 3 years 8,514 8,008 Due after 3 year but within 4 years 8,788 8,267 Due after 4 year but within 5 years 9,072 8,534 Due after 5 years 50,165 57,521 Total Mortgage bonds 89,924 94,921 d) Subordinated bonds Detail of the subordinated bonds per currency is as follows: As of December 31, 2019 2018 MCh$ MCh$ Subordinated bonds denominated in CLP - 1 Subordinated bonds denominated in UF 818,084 795,956 Total subordinated bonds 818,084 795,957 i, Allocation of subordinated bonds During 2019 and 2018, the Bank has not placed any subordinated bonds. The maturities of subordinated bonds, are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year - 1 Due after 1 year but within 2 years - - Due after 2 year but within 3 years - - Due after 3 year but within 4 years - - Due after 4 year but within 5 years - - Due after 5 years 818,084 795,956 Total subordinated bonds 818,084 795,957 e) Other financial liabilities The composition of other financial obligations, by maturity, is detailed below: As of December 31, 2019 2018 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 41 9,221 Due after 2 year but within 3 years 44 40 Due after 3 year but within 4 years 48 44 Due after 4 year but within 5 years 53 48 Due after 5 years 132 176 Non-current portion subtotal 318 9,529 Current portion: Amounts due to credit card operators 151,984 172,425 Acceptance of letters of credit 5,709 2,894 Other long-term financial obligations, short-term portion 68,347 30,552 Current portion subtotal 226,040 205,871 Total other financial liabilities 226,358 215,400 |
Maturity of Financial Assets an
Maturity of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Maturity of Financial Assets and Liabilities [Abstract] | |
MATURITY OF FINANCIAL ASSETS AND LIABILITIES | MATURITY OF FINANCIAL ASSETS AND LIABILITIES As of December 31, 2019 and 2018, the detail of the maturities of assets and liabilities is as follows: As of December 31, 2019 Demand Up to Between 1 and Between 3 and Subtotal Between 1 and Between 3 and More than Subtotal Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 3,554,520 - - - 3,554,520 - - - - 3,554,520 Cash items in process of collection 355,062 - - - 355,062 - - - - 355,062 Financial assets held for trading - 38,644 - 645 39,289 181,705 37,659 11,551 230,915 270,204 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 371,775 400,196 1,543,446 2,315,417 1,383,493 1,346,329 3,103,369 5,833,191 8,148,608 Loans and accounts receivables at amortised cost (*) 296,461 2,963,578 2,400,909 5,511,374 11,172,322 5,706,433 4,093,147 11,699,613 21,499,193 32,671,515 Loans and account receivable at fvoci (**) - - - 5,953 5,953 - - 60,213 60,213 66,166 Debt instruments at fvoci - 1,131,500 3,752 52,130 1,187,382 508,596 725,419 1,588,875 2,822,890 4,010,272 Equity instruments at fvoci - - - - - - - 482 482 482 Guarantee deposits (margin accounts) 314,616 - - - 314,616 - - - - 314,616 Total financial assets 4,520,659 4,505,497 2,804,857 7,113,548 18,944,561 7,780,227 6,202,554 16,464,103 30,446,884 49,391,445 Financial liabilities Deposits and other demand liabilities 10,297,432 - - - 10,297,432 - - - - 10,297,432 Cash items in process of being cleared 198,248 - - - 198,248 - - - - 198,248 Obligations under repurchase agreements - 380,055 - - 380,055 - - - - 380,055 Time deposits and other time liabilities 142,273 5,184,567 4,905,414 2,417,703 12,649,957 357,856 163,121 21,883 542,860 13,192,817 Financial derivative contracts - 422,749 427,825 951,684 1,802,258 1,253,280 1,180,948 3,154,168 5,588,396 7,390,654 Interbank borrowings 94 363,560 624,167 1,141,824 2,129,645 387,936 2,237 - 390,173 2,519,818 Issued debt instruments - 285,159 759,519 1,044,674 2,089,352 2,394,850 2,042,292 2,974,229 7,411,371 9,500,723 Lease liabilities - - - 26,061 26,061 45,978 36,393 50,062 132,433 158,494 Other financial liabilities 161,021 5,155 30,969 28,888 226,033 83 99 143 325 226,358 Guarantees received (margin accounts) 994,714 - - - 994,714 - - - - 994,714 Total financial liabilities 11,793,782 6,641,245 6,747,894 5,610,834 30,793,755 4,439,983 3,425,090 6,200,485 14,065,558 44,859,313 (*) Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$896,095 million. (**) Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$101 million. As of December 31, 2018 Demand Up to Between 1 and Between 3 and Subtotal Between 1 and Between 3 and More than Subtotal Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,065,411 - - - 2,065,411 - - - - 2,065,411 Cash items in process of collection 353,757 - - - 353,757 - - - - 353,757 Financial assets held for trading - 1,064 - 11,642 12,706 16,331 20,080 27,924 64,335 77,041 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 111,268 128,024 543,722 783,014 723,622 552,133 1,041,866 2,317,621 3,100,635 Loans and accounts receivables at amortised cost (*) 238,213 3,295,003 2,323,442 4,880,726 10,737,384 5,474,289 3,236,349 10,765,393 19,476,031 30,213,415 Loans and account receivable at fvoci (**) - - - 25,294 25,294 4,949 - 38,451 43,400 68,694 Debt instruments at fvoci - 2,391,329 - 1 2,391,330 86 - 2,907 2,993 2,394,323 Equity instruments at fvoci - - - - - - - 481 483 483 Guarantee deposits (margin accounts) 170,232 - - - 170,232 - - - - 170,232 Total financial assets 2,827,613 5,798,664 2,451,466 5,461,385 16,539,128 6,219,277 3,808,562 11,877,024 21,904,863 38,443,991 Financial liabilities Deposits and other demand liabilities 8,741,417 - - - 8,741,417 - - - - 8,741,417 Cash items in process of being cleared 163,043 - - - 163,043 - - - - 163,043 Obligations under repurchase agreements - 48,545 - - 48,545 - - - - 48,545 Time deposits and other time liabilities 122,974 5,248,418 4,108,556 3,326,199 12,806,147 191,547 6,137 63,988 261,672 13,067,819 Financial derivative contracts - 131,378 120,361 349,551 601,290 495,789 471,185 949,464 1,916,438 2,517,728 Interbank borrowings 39,378 16,310 404,575 1,188,692 1,648,955 139,671 - - 139,671 1,788,626 Issued debt instruments - 71,465 39,267 745,830 856,562 2,431,849 1,549,743 3,277,079 7,258,671 8,115,233 Other financial liabilities 179,681 934 2,412 22,844 205,871 9,261 92 176 9,529 215,400 Guarantees received (margin accounts) 540,091 - - - 540,091 - - - - 540,091 Total financial liabilities 9,786,584 5,517,050 4,675,171 5,633,116 25,611,921 3,268,117 2,027,157 4,290,707 9,585,981 35,197,902 (*) Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$ 882,414 million. (**) Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$106 million. |
Provisions and Contingent Provi
Provisions and Contingent Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Provisions [abstract] | |
PROVISIONS AND CONTINGENT PROVISIONS | NOTE 21 PROVISIONS AND CONTINGENT PROVISIONS a) As of December 31, 2019 and 2018, the composition is as follows: As of December 31, 2019 2018 MCh$ MCh$ Provisions for personnel salaries and expenses 101,223 93,379 Provisions for mandatory dividends 185,727 178,600 Provisions for contingent loan 23,792 24,329 Provision for contingencies 15,388 8,963 Total 326,130 305,271 b) Below is the activity regarding provisions during the years ended December 31, 2019, 2018 and 2017 Personnel salaries and expenses Mandatory Dividend Contingent loan Contingencies Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 93,379 178,600 24,329 8,963 305,271 Provisions established 78,316 185,727 16,277 27,975 298,627 Application of provisions (70,385 ) - - (155 ) (70,540 ) Provisions released (552 ) (178,600 ) (16,814 ) (21,395 ) (207,693 ) Reclassifications - - - - - Other 465 - - - 465 Balances as of December 31, 2019 101,223 185,727 23,792 15,388 326,130 Balances as of January 1, 2018 97,576 168,840 10,079 27,303 303,798 Provisions established 80,912 178,600 19,440 19,647 298,599 Application of provisions (72,975 ) - - (4,431 ) (77,406 ) Provisions released (3,195 ) (168,840 ) (5,190 ) (33,535 ) (210,781 ) Reclassifications - - - - - Other (8,939 ) - - - (8,939 ) Balances as of December 31, 2018 93,379 178,600 24,329 8,963 305,271 Balances as of January 1, 2017 72,592 142,815 11,399 65,404 292,210 Provisions established 106,687 168,840 7,341 8,645 291,513 Application of provisions (81,703 ) (142,815 ) (389 ) (224,907 ) Provisions released - - (8,661 ) (46,357 ) (55,018 ) Reclassifications - - - Other - - - Balances as of December 31, 2017 97,576 168,840 10,079 27,303 303,798 c) Provisions for personnel salaries and expenses includes: As of December 31, 2019 2018 MCh$ MCh$ Provision for seniority compensation 6,797 9,531 Provision for stock-based personnel benefits - - Provision for performance bonds 68,595 59,633 Provision for vacations 23,864 22,792 Provision for other personnel benefits 1,967 1,423 Total 101,223 93,379 d) Provisions for contingent loan risk Provision for contingent loan arise from contingent liabilities and loan commitments. Provisions for ECL risks in respect of contingent loan are included in ECL allowance in the income statements for the year. An analysis of changes in the corresponding ECL allowance as of December 31, 2019 and 2018 is as follows: Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2019 1,701 15,070 259 172 3,856 3,271 24,329 Transfer Transfers to stage 2 (100 ) (318 ) 122 878 - - 582 Transfers to stage 3 - (203 ) - - 167 4,675 4,639 Transfers to stage 3 - - (24 ) (144 ) 1,742 1,290 2,864 Transfers to stage 1 46 122 (82 ) (473 ) - - (387 ) Transfers to stage 2 - - - 234 (54 ) (1,444 ) (1,264 ) Transfers to stage 1 - 45 - - (130 ) (1,278 ) (1,363 ) Net changes on financial assets (423 ) (1,474 ) (41 ) (106 ) (2,100 ) 2,173 (5,471 ) Write-off - - - - - - - Foreign Exchange adjustments and others (9 ) (115 ) (8 ) (19 ) 6 8 (137 ) At December 31, 2019 2,061 13,127 226 542 3,500 4,336 23,792 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2018 1,627 16,261 219 187 2,884 3,182 24,360 Transfer Transfers to stage 2 (30 ) - 65 - - - 35 Transfers to stage 3 (1 ) - - - 328 - 327 Transfers to stage 3 - - (11 ) - 567 - 556 Transfers to stage 1 1 - (7 ) - - - (6 ) Transfers to stage 2 - - - - - - - Transfers to stage 1 - - - - (1 ) - (1 ) Net changes on financial assets 136 683 3 (37 ) 54 (77 ) 762 Write-off - - - - - - - Foreign Exchange adjustments and others (32 ) (1,874 ) (10 ) 22 24 166 (1,704 ) At December 31, 2018 1,701 15,070 259 172 3,856 3,271 24,329 |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities [Abstract] | |
OTHER LIABILITIES | NOTE 22 OTHER LIABILITIES The other liabilities line item is as follows: As of December 31, 2019 2018 MCh$ MCh$ Accounts and notes payable 214,216 163,216 Income received in advance 640 673 Adjustment due to macro-hedging valuation - 7,039 Guarantees received (margin accounts) (1) 994,714 540,091 Notes payable through brokerage and simultaneous transactions (3) 1,418,340 50,807 Other payable obligations (2) 61,555 94,779 Withholding VAT 8,147 1,990 Accounts payable insurance companies 9,510 8,424 Other liabilities 99,203 33,388 Total 2,806,325 900,407 (1) Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. (2) Other payable obligations mainly relate to settlement of derivatives and other financial transactions derived from the operation of the Bank. (3) In December 2019, Santander Corredora de Bolsa acted as an intermediary in the public offering of shares held between Latam and Delta, which was passed to the shareholders on January 3, 2019. |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2019 | |
Contingencies and Commitments [Abstract] | |
CONTINGENCIES AND COMMITMENTS | NOTE 23 CONTINGENCIES AND COMMITMENTS a) Lawsuits and legal procedures As of the issuance date of these financial statements, the Bank and its affiliates were subject to certain legal actions in the normal course of their business, As of December 31, 2019, the Bank and its subsidiaries have provisions for this item of Ch$1,274 (Ch$923 million as of December 31, 2018) which is included in "Provisions" in the Consolidated Statements of Financial Position as provisions for contingencies. b) Contingent loans The following table shows the Bank's contractual obligations to issue loans: As of December 31, 2019 2018 MCh$ MCh$ Letters of credit issued 140,572 223,420 Foreign letters of credit confirmed 70,192 57,038 Performance guarantee 1,929,894 1,954,205 Personal guarantees 451,950 133,623 Total contingent liabilities 2,592,608 2,368,286 Available on demand credit lines 8,732,422 8,997,650 Other irrevocable credit commitments 485,991 327,297 Total loan commitment 9,218,413 9,324,947 Total 11,811,021 11,693,233 c) Held securities The Bank holds securities in the normal course of its business as follows: As of December 31, 2019 2018 MCh$ MCh$ Third party operations Collections 90,966 99,784 Transferred financial assets managed by the Bank 21,507 26,262 Assets from third parties managed by the Bank and its affiliates 1,592,845 1,630,431 Subtotal 1,705,318 1,756,477 Custody of securities Securities held in custody 9,731,894 11,160,488 Securities held in custody deposited in other entity 1,206,541 861,405 Issued securities held in custody 21,636,819 12,335,871 Subtotal 32,575,254 24,357,764 Total 34,280,572 26,114,241 During 2019, the Bank classified the portfolios managed by private banking in "Assets from third parties managed by the Bank and its affiliates" (memo account). At the end of December 2019, the balance for this was Ch$ 1,592,810 million (Ch$ 1,630,396 million at December 31, 2018). d) Guarantees Banco Santander-Chile has an integral bank policy of coverage of Official Loyalty N°5014196 in force with the company Compañía de Seguros Chilena Consolidada S.A., coverage for 50,000,000 USD per claim with an annual limit of 100,000,000 USD, which covers both the Bank and its subsidiaries, with an expiration date of June 30, 2020, which has been renewed. e) Contingent loans and liabilities To satisfy its clients' needs, the Bank took on several contingent loans and liabilities that are not be recognised in the Consolidated Financial Statements of Financial Position; these contain loan risks and they are, therefore, part of the Bank's global risk. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2019 | |
EQUITY | |
EQUITY | NOTE 24 EQUITY a) Capital As of December 31, 2019 and 2018 the Bank had 188,446,126,794 shares outstanding, all of which are subscribed for and paid in full, amounting to Ch$891,303 million. All shares have the same rights, and have no preferences or restrictions. The activity with respect to shares during 2019, 2018 and 2017 was as follows: SHARES As of December 31, 2019 2018 2017 Issued as of January 1 188,446,126,794 188,446,126,794 188,446,126,794 Issuance of paid shares - - - Issuance of outstanding shares - - - Stock options exercised - - - Issued as of December 31, 188,446,126,794 188,446,126,794 188,446,126,794 As of December 31, 2019, 2018 and 2017 the Bank does not have any of its own shares in treasury, nor do any of the consolidated companies. As of December 31, 2019 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 24,822,041,271 24,822,041,271 13.17 Banks on behalf of third parties 15,957,137,883 - 15,957,137,883 8.47 Pension funds (AFP) on behalf of third parties 9,995,705,956 - 9,995,705,956 5.30 Stock brokers on behalf of third parties 5,551,024,270 - 5,551,024,270 2.95 Other minority holders 5,527,216,146 - 5,527,216,146 2.93 Total 163,624,085,523 24,822,041,271 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2018 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 26,486,000,071 26,486,000,071 14.05 Banks on behalf of third parties 15,451,106,985 - 15,451,106,985 8.20 Pension funds (AFP) on behalf of third parties 9,033,172,896 - 9,033,172,896 4.79 Stock brokers on behalf of third parties 4,773,558,507 - 4,773,558,507 2.53 Other minority holders 6,109,287,067 - 6,109,287,067 3.25 Total 161,960,126,723 26,486,000,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2017 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 31,238,866,071 31,238,866,071 16.58 Banks on behalf of third parties 13,892,691,988 - 13,892,691,988 7.37 Pension funds (AFP) on behalf of third parties 6,896,552,755 - 6,896,552,755 3.66 Stock brokers on behalf of third parties 3,762,310,365 - 3,762,310,365 2.00 Other minority holders 6,062,704,347 - 6,062,704,347 3.21 Total 157,207,260,723 31,238,866,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. b) Reserves During 2019, on the Shareholders Meeting held in April, it is agreed to capitalize on reserves 40% of retained earnings from previous years, equivalent to $236,761 million ($141,204 and $141,706 million in the year 2018 and 2017 respectively). As a result of the purchase of Santander Consumer S.A., the Bank has recorded negative equity effect of MCh$37,041, since the Bank apply "predecessor accounting method", and the difference between the consideration transferred and the acquired net asset is recorded in equity, within reserves. See Note 3. c) Dividends The distribution of dividends is detailed in the Consolidated Statements of Changes in Equity. d) As of December 31, 2019, 2018 and 2017 the basic and diluted earnings per share were as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the shareholders of the Bank 619,091 595,333 562,801 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 3.285 3.159 2.986 Basic earnings per share from continuing operations (in Ch$) 3.276 3.139 2.972 Basic earnings per share from discontinued operations (in Ch$) 0.009 0.020 0.015 b) Diluted earnings per share Total attributable to the shareholders of the Bank 619,091 595,333 562,801 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 3.285 3.159 2.987 Diluted earnings per share from continuing operations (in Ch$) 3.276 3.139 2.972 Diluted earnings per share from discontinued operations (in Ch$) 0.009 0.020 0.015 As of December 31, 2019, 2018 and 2017 the Bank does not own instruments with dilutive effects. e) Other comprehensive income from available for sale investments and cash flow hedges: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Debt instruments at FVOCI As of January 1, 6,962 1,855 - Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax (17,775 ) 6,609 - Recycling from other comprehensive income to income for the year 39,997 (1,502 ) - Available for sale investments As of January 1, - - 7,375 Gain (losses) on the re-measurement of available for sale investments, before tax - - (10,384 ) Recycling from other comprehensive income to income for the year - - 4,864 Subtotals 22,222 5,107 (5,520 ) Total 29,184 6,962 1,855 Cash flow hedges As of January 1, 9,803 (3,562 ) 2,288 Gains (losses) on the re-measurement of cash flow hedges, before tax (49,163 ) 14,048 (5,850 ) Recycling adjustments on cash flow hedges, before tax (1,075 ) (683 ) - Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction - - - Subtotals (50,238 ) 13,365 (5,850 ) Total (40,435 ) 9,803 (3,562 ) Other comprehensive income, before taxes (11,251 ) 16,765 (1,707 ) Income tax related to other comprehensive income components Income tax relating to debt instruments at FVOCI (7,756 ) (1,810 ) - Income tax relating to available for sale investments - (473 ) Income tax relating to cash flow hedges 10,918 (2,646 ) 908 Total 3,162 (4,456 ) 435 Other comprehensive income, net of tax (8,089 ) 12,309 (1,272 ) Attributable to: Shareholders of the Bank (8,856 ) 11,353 (2,312 ) Non-controlling interest 767 956 1,040 The Bank expects that the results included in "Other comprehensive income" will be reclassified to profit or loss when the specific conditions have been met. |
Non-controlling Interest
Non-controlling Interest | 12 Months Ended |
Dec. 31, 2019 | |
Non-Controlling Interest [Abstract] | |
NON-CONTROLLING INTEREST | NON-CONTROLLING INTEREST a) The non-controlling interest included in the equity and the income from the subsidiaries is summarized as follows: Other comprehensive income As of December 31, 2019 Non- controlling Equity Income Debt instruments at FVOCI Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 178 6 1 - 1 7 Santander Corredores de Bolsa Limitada 49.41 22,301 625 (261 ) 71 (190 ) 435 Santander Asesorías Financieras Limitada(1) 0.97 498 9 - - - 9 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Klare Corredora de Seguros S.A. 49.90 3,782 (503 ) - - - (503 ) Santander Consumer Chile S.A. (2) 49.00 24,564 1,544 - - - 1,544 Subtotal 51,325 1,681 (260 ) 71 (189 ) 1,492 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100.00 3,777 1,031 - - - 1,031 Bansa Santander S.A. 100.00 20,051 (486 ) - - - (486 ) Multiplica Spa 100.00 4,480 (4 ) - - - (4 ) Subtotal 28,308 541 - - - 541 Total 79,633 2,222 (260 ) 71 (189 ) 2,033 (1) Ex Santander Agente de Valores Limitada (2) On November27, 2019, the Bank acquired the 51% of Santander Consumer S.A., the remaining 49% is accounted as non-controlling interest. Other comprehensive income As of December 31, 2018 Non-controlling Equity Income Debt instruments at FVOCI Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 172 4 (2 ) - (2 ) 2 Santander Corredores de Bolsa Limitada 49.41 21,673 755 (84 ) 2 (82 ) 673 Santander Agente de Valores Limitada 0.97 488 99 - - - 99 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Subtotal 22,335 858 (86 ) 2 (84 ) 774 Entities controlled through other considerations: Santander Gestión de Recaudación y 100.00 3,777 852 - - - 852 Bansa Santander S.A. 100.00 20,051 2,650 - - - 2,650 Subtotal 23,828 3,502 - - - 3,502 Total 46,163 4,360 (86 ) 2 (84 ) 4,276 Other comprehensive income As of December 31, 2017 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 167 4 - - - 4 Santander Corredores de Bolsa Limitada 49.41 21,000 702 470 (134 ) 336 1,038 Santander Agente de Valores Limitada 0.97 389 132 - - - 132 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Subtotal 21,558 838 470 (134 ) 336 1,174 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100.00 2,925 741 - - - 741 Bansa Santander S.A. 100.00 17,401 10,869 - - - 10,869 Subtotals 20,326 11,610 - - - 11,610 Total 41,883 12,448 470 (134 ) 336 12,784 b) The overview of the financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests is as follows, which does not include consolidation or conforming accounting policy adjustments: As of December 31, 2019 2018 2017 Net Net Net Assets Liabilities Capital income Assets Liabilities Capital income Assets Liabilities Capital income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 82,918 12,372 68,159 2,387 77,764 9,595 66,374 1,795 76,177 9,803 64,937 1,437 Santander Corredores de Bolsa Limitada 1,479,974 1,434,843 43,866 1,265 102,228 57,999 42,691 1,538 88,711 45,855 41,424 1,432 Santander Asesorias Financieras Limitada(*) 51,505 51 50,481 973 50,552 71 40,177 10,304 44,910 4,732 26,569 13,609 Santander S.A. Sociedad Securitizadora 636 88 639 (91 ) 704 66 728 (90 ) 400 50 432 (82 ) Klare Corredora de Seguros S.A. 8,303 724 8,586 (1,007 ) - - - - - - - - Santander Consumer Chile S.A. 505,059 452,528 39,951 12,580 - - - - - - - - Santander Gestión de Recaudación y Cobranzas Ltda. 8,200 3,392 3,777 1,031 6,932 3,155 2,925 852 10,826 7,901 2,184 741 Bansa Santander S.A. 87,607 68,042 20,051 (486 ) 20,437 386 17,401 2,650 25,535 8,134 6,533 10,868 Multiplica Spa 4,480 4 4,480 (4 ) - - - - - - - - Total 2,228,682 1,972,044 239,990 16,648 258,617 71,272 170,296 17,049 246,559 76,475 142,079 28,005 |
Interest Income
Interest Income | 12 Months Ended |
Dec. 31, 2019 | |
Interest Income [Abstract] | |
INTEREST INCOME | NOTE 26 INTEREST INCOME This item refers to interest earned in the period from the financial assets whose return, whether implicitly or explicitly, is determined by applying the effective interest rate method, regardless of the value at fair value, as well as the effect of hedge accounting (see c). a) For the years ended December 31, 2019, 2018 and 2017 the income from interest, was attributable to the following items: For the years ended December 31, 2019 2018 2017 Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 718 - - 718 903 - - 903 939 - - 939 Interbank loans 1,263 - - 1,263 897 - - 897 969 - - 969 Commercial loans 780,284 160,462 16,478 957,224 771,405 153,851 11,008 936,264 752,013 85,389 10,525 847,927 Mortgage loans 349,663 283,820 455 633,938 330,055 266,691 909 597,655 320,041 149,303 414 469,758 Consumer loans 593,705 384 8,107 602,196 579,929 439 6,166 586,534 612,932 363 4,738 618,033 Investment instruments 71,150 26,169 - 97,319 75,423 24,790 - 100,213 74,000 5,797 - 79,797 Other interest income 18,387 3,592 - 21,979 16,644 4,013 - 20,657 12,172 1,538 - 13,710 Interest income not including income from hedge accounting 1,815,170 474,427 25,040 2,314,637 1,775,256 449,784 18,083 2,243,123 1,773,066 242,390 15,677 2,031,133 b) For the years ended December 31, 2019, 2018 and 2017, the expense from interest expense, excluding expense from hedge accounting, is as follows: For the years ended December 31, 2019 2018 2017 Interest Inflation adjustments Total Interest Inflation adjustments Total Interest Inflation adjustments Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (14,018 ) (1,508 ) (15,526 ) (14,914 ) (1,371 ) (16,285 ) (13,851 ) (695 ) (14,546 ) Repurchase agreements (9,710 ) - (9,710 ) (6,439 ) - (6,439 ) (6,514 ) - (6,514 ) Time deposits and liabilities (335,307 ) (27,172 ) (362,479 ) (317,061 ) (35,284 ) (352,345 ) (341,821 ) (20,509 ) (362,330 ) Interbank loans (50,354 ) - (50,354 ) (39,971 ) - (39,971 ) (26,805 ) - (26,805 ) Issued debt instruments (250,512 ) (145,487 ) (395,999 ) (241,455 ) (133,227 ) (374,682 ) (220,027 ) (76,170 ) (296,197 ) Other financial liabilities (1,310 ) (33 ) (1,343 ) (2,698 ) (110 ) (2,808 ) (2,946 ) (303 ) (3,249 ) Lease contracts (2,965 ) - (2,965 ) - - - - - - Other interest expense (16,651 ) (11,300 ) (27,951 ) (6,929 ) (10,497 ) (17,426 ) (5,236 ) (4,973 ) (10,209 ) Interest expense not including expenses from hedge accounting (680,827 ) (185,500 ) (866,327 ) (629,467 ) (180,489 ) (809,956 ) (617,200 ) (102,650 ) (719,850 ) c) For the years ended December 31, 2019, 2018 and 2017, the income and expense from interest is as follows: For the years ended December 31, 2019 2018 2017 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,314,637 2,243,123 2,031,133 Interest expense not including expense from hedge accounting (866,327 ) (809,956 ) (719,850 ) Net Interest income (expense) from hedge accounting 1,448,310 1,433,167 1,311,283 Hedge accounting (net) (31,346 ) (18,799 ) 15,408 Total net interest income 1,416,964 1,414,368 1,326,691 |
Fees and Commissions
Fees and Commissions | 12 Months Ended |
Dec. 31, 2019 | |
Fees and Commissions [Abstract] | |
FEES AND COMMISSIONS | NOTE 27 FEES AND COMMISSIONS This item includes the amount of fees earned and paid during the year, except for those which are an integral part of the financial instrument's effective interest rate: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 10,315 6,624 7,413 Fees and commissions for guarantees and letters of credit 35,039 33,654 33,882 Fees and commissions for card services 225,702 218,903 201,791 Fees and commissions for management of accounts 35,949 33,865 31,901 Fees and commissions for collections and payments 33,355 40,077 44,312 Fees and commissions for intermediation and management of securities 10,154 10,147 10,090 Insurance brokerage fees 49,664 39,949 36,430 Office banking 13,655 15,921 15,669 Fees for other services rendered 47,331 45,633 43,123 Other fees earned 37,494 39,690 30,947 Total 498,658 484,463 455,558 For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (171,513 ) (163,794 ) (149,809 ) Fees and commissions for securities transactions (1,001 ) (936 ) (858 ) Office banking (1,860 ) (4,096 ) (15,283 ) Other fees (37,198 ) (24,752 ) (10,545 ) Total (211,572 ) (193,578 ) (176,495 ) Net fees and commissions income 287,086 290,885 279,063 The fees earned in transactions with letters of credit are presented in the Consolidated Statements of Income in the line item "Interest income". The income and expenses for the commissions of the business segments are presented below and the calendar for the recognition of income from ordinary activities is opened. Segments Revenue recognition calendar for ordinary activities As of December 31, 2019 Individuals and PYMEs Companies and Institutions Global Investment Banking Others Total Transferred over time Transferred at a point in time Accrual model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 6,123 935 3,240 17 10,315 10,315 - - Commissions for guarantees and letters of credit 11,553 17,531 5,842 113 35,039 35,039 - - Commissions for card services 218,635 6,042 950 75 225,702 41,347 184,355 - Commissions for account management 32,608 2,515 823 3 35,949 35,949 - - Commissions for collections, collections and payments 36,129 2,185 464 (5,423 ) 33,355 - 12,854 20,501 Commissions for intermediation and management of values 3,219 245 8,301 (1,611 ) 10,154 - 10,154 - Remuneration for insurance commercialization 49,664 - - - 49,664 - - 49,664 Office banking 9,280 3,782 606 (13 ) 13,655 - 13,655 - Other remuneration for services rendered 42,499 3,748 839 245 47,331 - 47,331 - Other commissions earned 12,462 10,727 14,293 12 37,494 - 37,494 - Total 422,172 47,710 35,358 (6,582 ) 498,658 122,650 305,843 70,165 Commission expenses Remuneration for card operation (168,024 ) (3,475 ) (321 ) 307 (171,513 ) - (171,513 ) - Commissions per transaction with securities - - (33 ) (968 ) (1,001 ) - (1,001 ) - Office banking (1,186 ) (389 ) (282 ) (3 ) (1,860 ) - (1,860 ) - Other commissions (22,335 ) (5,134 ) (5,619 ) (4,110 ) (37,198 ) - (37,198 ) - Total (191,545 ) (8,998 ) (6,255 ) (4,774 ) (211,572 ) - (211,572 ) - Total Net commission income and expenses 230,627 38,712 29,103 (11,356 ) 287,086 122,650 94,271 70,165 The income and expenses for the commissions of the business segments are presented below and the calendar for the recognition of income from ordinary activities is opened. Segments Revenue recognition calendar for ordinary activities As of December 31, 2018 Individuals and PYMEs Companies and Institutions Global Investment Banking Others Total Transferred over time Transferred at a point in time Accrual model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 5,901 271 453 (1 ) 6,624 6,624 - - Commissions for guarantees and letters of credit 11,099 16,258 6,239 58 33,654 33,654 - - Commissions for card services 211,615 6,193 1,036 59 218,903 34,856 184,047 - Commissions for account management 30,386 2,678 799 2 33,865 33,865 - - Commissions for collections, collections and payments 66,780 1,693 458 (28,854 ) 40,077 - 15,719 24,358 Commissions for intermediation and management of values 4,050 134 7,221 (1,258 ) 10,147 - 10,147 - Remuneration for insurance commercialization - - - 39,949 39,949 - - 39,949 Office banking 11,420 3,893 608 - 15,921 - 15,921 - Other remuneration for services rendered 40,901 3,833 819 80 45,633 - 45,633 - Other commissions earned 6,908 9,743 23,320 (281 ) 39,690 - 39,690 - Total 389,060 44,696 40,953 9,754 484,463 108,999 311,157 64,307 Commission expenses Remuneration for card operation (159,817 ) (3,186 ) (134 ) (657 ) (163,794 ) - (163,794 ) - Commissions per transaction with securities (169 ) (3 ) (419 ) (345 ) (936 ) - (936 ) - Office banking (2,374 ) (985 ) (722 ) (15 ) (4,096 ) - (4,096 ) - Other commissions (6,168 ) (3,776 ) (4,614 ) (10,194 ) (24,752 ) - (24,752 ) - Total (168,528 ) (7,950 ) (5,889 ) (11,211 ) (193,578 ) - (193,578 ) - Total Net commission income and expenses 220,532 36,746 35,064 (1,457 ) 290,885 108,999 117,579 64,307 |
Net Income (Expense) From Finan
Net Income (Expense) From Financial Operations | 12 Months Ended |
Dec. 31, 2019 | |
Net Income (Expense) from Financial Operations [Abstract] | |
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS | NOTE 28 NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS In accordance with the IFRS 9 and IFRS 7 disclosure, the detail of income (expense) from financial operations is as follows: For the years ended December 31, 2019 2018 MCh$ MCh$ Net gains on trading derivatives (162,183 ) 38,217 Net gains on financial assets at fair value through profit or loss 11,878 9,393 Net gains on derecognition of financial assets measured at amortised cost 63,672 8,479 Sale of loans and accounts receivables from customers Current portfolio 63 (309 ) Charged-off portfolio 3,248 709 Repurchase of issued bonds (*) 3,265 (840 ) Other income (expense) from financial operations 1,892 (2,475 ) Total income (expense) (78,165 ) 53,174 (*) The disclosure for the year December 31, 2017, the detail of income (expense) from financial operations is as follows: For the years ended 2017 MCh$ Income (expense) from financial operations Trading derivatives (18,974 ) Trading investments 10,008 Sale of loans and accounts receivables from customers Current portfolio 3,020 Charged-off portfolio 3,020 Available for sale investments 8,956 Repurchase of issued bonds (742 ) Other income (expense) from financial operations (2,492 ) Total income (expense) 2,796 |
Net Foreign Exchange Gain (Loss
Net Foreign Exchange Gain (Loss) | 12 Months Ended |
Dec. 31, 2019 | |
Net Foreign Exchange Gain (Loss) [Abstract] | |
NET FOREIGN EXCHANGE GAIN (LOSS) | NOTE 29 NET FOREIGN EXCHANGE GAIN (LOSS) Net foreign exchange income includes the income earned from foreign currency trading, differences arising from converting monetary items in a foreign currency to the functional currency, and those generated by non-monetary assets in a foreign currency at the time of their sale, For the years ended December 31, 2019, 2018 and 2017 net foreign exchange income is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences (89,893 ) (212,618 ) 113,115 Hedging derivatives 362,374 252,275 22,933 Income from assets indexed to foreign currency 7,376 12,251 (9,190 ) Income from liabilities indexed to foreign currency - - 98 Total 279,857 51,908 126,956 |
Expected Credit Losses Allowanc
Expected Credit Losses Allowance | 12 Months Ended |
Dec. 31, 2019 | |
Expected Credit Losses Allowance [Abstract] | |
EXPECTED CREDIT LOSSES ALLOWANCE | NOTE 30 EXPECTED CREDIT LOSSES ALLOWANCE I. Expected credit losses (ECL) allowance – under IFRS 9 As of December 31, 2019 and 2018, under the new credit risk model established by IFRS 9 the ECL allowance by stage recorded at income statements is as follows: For the year ended December 31, 2019 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans (3,002 ) (4,930 ) (10,469 ) (8,686 ) (79,501 ) (33,657 ) (140,245 ) Mortgage loans - (1,177 ) - (4,998 ) - (8,237 ) (14,412 ) Consumer loans - (8,875 ) - (15,280 ) - (145,328 ) (169,483 ) Contingent loans 45 589 10 24 152 188 1,008 Loans and account receivable at FVOCI 5 - - - - - 5 Debt at FVOCI - (184 ) - - - - (184 ) Total (2,952 ) (14,577 ) (10,459 ) (28,940 ) (79,349 ) (187,034 ) (323,311 ) For the year ended December 31, 2018 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 79 5,652 (2,891 ) (1,533 ) (96,131 ) (47,959 ) (142,783 ) Mortgage loans - 5,583 - 5,161 - 3,377 14,121 Consumer loans - 1,861 - 192 - (191,304 ) (189,251 ) Contingent loans (90 ) 1,214 11 (68 ) (225 ) (834 ) 8 Loans and account receivable at FVOCI 363 - 68 - - - 431 Debt at FVOCI - 66 - - - - 66 Total 352 14,376 (2,812 ) 3,752 (96,356 ) (236,720 ) (317,408 ) II. Provision for loan losses – under IAS 39 Loans and accounts receivable from customers For the year ended December 31, 2017 Interbank loans Commercial Mortgage Consumer Contingent Individual Individual Group Group Group Individual Group Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (15,699 ) - - - - - (15,699 ) Provisions established (307 ) (64,658 ) (148,681 ) (43,621 ) (252,038 ) (3,117 ) (4,224 ) (516,646 ) Total provisions and charge-offs (307 ) (80,357 ) (148,681 ) (43,621 ) (252,038 ) (3,117 ) (4,224 ) (532,345 ) Provisions released 3,970 55,925 20,491 11,427 46,089 7,001 1,660 146,563 Recovery of loans previously charged off - 11,114 21,499 10,942 39,972 - - 83,527 Net charge to income 3,663 (13,318 ) (106,691 ) (21,252 ) (165,977 ) 3,884 (2,564 ) (302,255 ) b) The detail of Charge-off of individually significant loans, is as follows: For the years 2017 MCh$ Charge-off of loans 51,978 Provision applied (36,279 ) Net charge offs of individually significant loans 15,699 |
Personnel Salaries and Expenses
Personnel Salaries and Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Personnel Salaries and Expenses [Abstract] | |
PERSONNEL SALARIES AND EXPENSES | NOTE 31 PERSONNEL SALARIES AND EXPENSES For the years ended December 31, 2019, 2018 and 2017, the composition of personnel salaries and expenses is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Personnel compensation 260,445 259,354 250,962 Bonuses or gratifications 78,534 72,728 75,181 Stock-based benefits (315 ) (337 ) 2,752 Seniority compensation 25,006 21,869 26,120 Pension plans 566 1,069 2,039 Training expenses 4,918 3,782 2,867 Day care and kindergarten 2,731 2,778 2,505 Health funds - - 4,748 Welfare funds 6,644 6,040 896 Other personnel expenses 31,628 30,281 28,897 Total 410,157 397,564 396,967 |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Administrative Expenses [Abstract] | |
ADMINISTRATIVE EXPENSES | NOTE 32 ADMINISTRATIVE EXPENSES For the years ended December 31, 2019, 2018 and 2017, the composition of the item is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ General administrative expenses 124,896 145,241 139,418 Maintenance and repair of property, plant and equipment 19,214 20,962 21,359 Office lease - 29,761 26,136 Equipment lease - 55 96 Short term leases contracts 4,177 - - Insurance payments 3,848 3,439 3,354 Office supplies 5,126 5,070 6,862 IT and communication expenses 52,017 44,209 39,103 Heating, and other utilities 2,848 4,849 5,468 Security and valuables transport services 12,187 12,168 12,181 Representation and personnel travel expenses 4,109 3,444 4,262 Judicial and notarial expenses 1,277 1,148 974 Fees for technical reports and auditing 7,643 10,020 9,379 Other general administrative expenses 12,450 10,116 10,244 Outsourced services 71,572 65,358 57,400 Data processing 31,921 32,360 34,880 Archive services 3,518 3,401 3,324 Valuation services 3,644 3,167 2,419 Outsourcing 10,139 9,936 6,878 Other 22,350 16,494 9,899 Board expenses 1,356 1,297 1,290 Marketing expenses 20,891 19,286 18,877 Taxes, payroll taxes, and contributions 14,897 13,907 13,118 Real estate taxes 1,954 1,730 1,443 Patents 1,913 1,896 1,646 Other taxes 5 7 24 Contributions to CMF (former SBIF) 11,025 10,274 10,005 Total 233,612 245,089 230,103 |
Depreciation, Amortization, and
Depreciation, Amortization, and Impairment | 12 Months Ended |
Dec. 31, 2019 | |
Depreciation, Amortization, and Impairment [Abstract] | |
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT | NOTE 33 DEPRECIATION, AMORTIZATION, AND IMPAIRMENT Depreciation, amortization and impairment charges for the years ended December 31, 2019, 2018 and 2017, are detailed below: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (52,855 ) (54,987 ) (55,623 ) Amortization of Intangible assets (26,348 ) (24,293 ) (22,200 ) Depreciation right of use assets (26,889 ) - - Total depreciation and amortization (106,092 ) (79,280 ) (77,823 ) Impairment of property, plant, and equipment (1,013 ) (39 ) (354 ) Impairment of right of use assets (1,713 ) - - Impairment of intangibles - - (5,290 ) Total impairment (2,726 ) (39 ) (5,644 ) Total (108,818 ) (79,319 ) (83,467 ) |
Other Operating Income and Expe
Other Operating Income and Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Income and Expenses [Abstract] | |
OTHER OPERATING INCOME AND EXPENSES | NOTE 34 OTHER OPERATING INCOME AND EXPENSES a) Other operating income is comprised of the following components: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 5,613 7,106 3,330 Release of contingencies provisions (1) - 12,020 29,903 Other income 7,388 4,003 28,783 Leases 222 264 Income from sale of property, plant and equipment (2) 2,456 2,490 23,229 Recovery of provisions for contingencies - - - Compensation from insurance companies due to damages 4,681 144 1,237 Other 251 1,147 4,053 Total 13,001 23,129 62,016 (1) In accordance with IAS 37, the Bank recorded contingencies provisions, which during 2018 were favorable to the Bank. (2) Corresponds to legal cession of rights made by Bansa Santander S.A. which result in an income of Ch$2,122 million, as of December 31, 2018. See Note N°26. b) Other operating expenses are detailed as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment 3,900 2,537 5,591 Provision on assets received in lieu of payment 1,828 816 3,912 Expenses for maintenance of assets received in lieu of payment 2,072 1,721 1,679 Credit card expenses 1,077 3,151 3,070 Customer services 2,456 3,635 2,563 Other expenses 41,870 23,019 57,189 Operating charge-offs 973 798 1,607 Life insurance and general product insurance policies 21,205 9,964 23,475 Sale of property plant and equipment 67 62 - Additional tax on expenses paid overseas - - - Provisions for contingencies 120 21 - Retail association payment 343 898 912 Expense on sale of participation on associates 126 - - Expense on social commotion event 1,823 - - Other 17,213 11,276 31,195 Total 49,303 32,342 68,413 |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2019 | |
Transactions with Related Parties [Abstract] | |
TRANSACTIONS WITH RELATED PARTIES | NOTE 35 TRANSACTIONS WITH RELATED PARTIES In addition to affiliates and associated entities, the Bank's "related parties" include its "key personnel" from the executive staff (members of the Bank's Board of Directors and Managers of Banco Santander-Chile and its affiliates, together with their close relatives), as well as the entities over which the key personnel could exercise significant influence or control. The Bank also considers the companies that are part of the Santander Group worldwide as related parties, given that all of them have a common parent, i.e., Banco Santander S.A. (located in Spain). Transactions between the Bank and its related parties are specified below. To facilitate comprehension, we have divided the information into four categories: Santander Group Companies This category includes all the companies that are controlled by the Santander Group around the world, and hence, it also includes the companies over which the Bank exercises any degree of control (affiliates and special-purpose entities). Associated companies This category includes the entities over which the Bank, in accordance with section b) of Note 1 to these Financial Statements, exercises a significant degree of influence and which generally belong to the group of entities known as "business support companies". Key personnel This category includes members of the Bank's Board of Directors and managers of Banco Santander-Chile and its affiliates, together with their close relatives. Other This category encompasses the related parties that are not included in the groups identified above and which are, in general, entities over which the key personnel could exercise significant influence or control. The terms for transactions with related parties are equivalent to those which prevail in transactions made under market conditions or to which the corresponding considerations in kind have been attributed. a) Loans to related parties: Below are loans and accounts receivable as well as contingent loans that correspond to related entities: As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 246,868 375 2,986 685 122,289 459 4,299 233 80,076 771 3,947 7,793 Mortgage loans - - 20,473 - - - 18,814 - - - 18,796 - Consumer loans - - 5,781 - - - 5,335 - - - 4,310 - Loans and accounts receivable: 246,868 375 29,240 685 122,289 459 28,448 233 80,076 771 27,053 7,793 Allowance for loan losses (122 ) (182 ) (179 ) (10 ) (308 ) (9 ) (116 ) (5 ) (209 ) (9 ) (177 ) (18 ) Net loans 246,746 193 29,061 675 121,981 450 28,332 228 79,867 762 26,876 7,775 Guarantees 462,513 - 23,918 288 442,854 - 22,893 7,171 361,452 - 23,868 7,164 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 4,112 - - 63 5,392 - 2,060 44 19,251 - - 33 Guarantees 464,691 - - - 445,064 - 3,364 - 377,578 - - - Contingent loans: 468,803 - - 63 450,456 - 5,424 44 396,829 - - 33 Allowance for contingent loans (835 ) - - - (1 ) - (18 ) - (4 ) - - 1 Net contingent loans 467,968 - - 63 450,455 - 5,406 44 396,825 - - 34 Loan activity to related parties during 2019, 2018 and 2017 is shown below: As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 572,745 459 33,871 7,899 476,906 771 27,051 7,826 546,058 532 26,423 7,100 Loans granted 193,798 167 4,826 500 200,657 39 16,574 773 78,214 318 7,777 1,050 Loans payments (50,646 ) (251 ) (9,457 ) (7,651 ) (104,818 ) (351 ) (9,754 ) (700 ) (147,366 ) (79 ) (7,149 ) (324 ) Total 715,897 375 29,240 748 572,745 459 33,871 7,899 476,906 771 27,051 7,826 b) Assets and liabilities with related parties As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 171,816 - - - 189,803 - - - 74,949 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - - Financial derivative contracts 2,058,715 218,610 - 55 748,632 105,358 - 9 545,028 86,011 - - Available for sale investments - - - - - - - - - - - - Other assets 185,317 210,579 - - 38,960 51,842 - - 8,480 118,136 - - Liabilities Deposits and other demand liabilities 25,261 93,761 4,624 566 27,515 21,577 2,493 480 24,776 25,805 2,470 221 Obligations under repurchase agreements Loans 138,498 5,000 270 80 6,501 - 329 68 50,945 - - - Time deposits and other time liabilities 1,183,235 282,171 4,246 2,204 2,585,337 - 3,189 838 785,988 27,968 3,703 3,504 Financial derivative contracts 2,159,660 288,013 - 3 770,624 112,523 - - 418,647 142,750 - 7,190 Interbank borrowing - - - - - - - - - - - - Issued debt instruments 363,154 - - - 335,443 - - - 482,626 - - - Other financial liabilities 6,231 - - - 6,807 - - - 4,919 - - - Other liabilities 8,130 146,164 - - 60,884 89,817 - - 164,303 58,168 - - c) Income (expense) recorded due to transactions with related parties For the years ended December 31, 2019 2018 2017 Companies Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (41,181 ) (5,235 ) 1,151 26 (53,256 ) (156 ) 1,252 508 (43,892 ) - 1,051 - Fee and commission income and expenses 28,274 14,499 232 28 91,178 7,826 305 22 72,273 15,404 224 1 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) (586,318 ) (84,236 ) - - (566,677 ) 65,727 27 (12 ) 363,108 (48,453 ) (3 ) 19 Other operating income and expenses 406 (2,026 ) - - 42 1,388 - - 21,670 (1,454 ) - - Key personnel compensation and expenses - - (37,377 ) - - - (40,683 ) - - - (43,037 ) - Administrative and other expenses (11,877 ) (47,757 ) - - (43,035 ) (50,764 ) - - (48,246 ) (47,220 ) - - Total (610,696 ) (124,755 ) (35,994 ) 54 (571,748 ) 24,021 (39,099 ) 518 364,913 (81,723 ) (41,765 ) 20 (*) Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries, d) Payments to Board members and key management personnel The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the "Personnel salaries and expenses" and/or "Administrative expenses" items of the Consolidated Statements of Income, corresponds to the following categories: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Personnel compensation 16,264 16,924 16,863 Board members' salaries and expenses 1,358 1,230 1,199 Bonuses or gratifications 16,104 16,243 16,057 Stock-based benefits (315 ) (337 ) 1,923 Seniority compensation 2,378 4,202 3,842 Pension plans 566 1,069 2,039 Training expenses 37 210 68 Health funds 273 284 273 Other personnel expenses 712 858 773 Total 37,377 40,683 43,037 (*) Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions. e) Composition of key personnel As of December 31, 2019, 2018 and 2017, the composition of the Bank's key personnel is as follows: N° of executives Position As of December 31, 2019 2018 2017 Director 10 11 11 Division manager 12 12 13 Manager 106 108 109 Total key personnel 128 131 133 |
Pension Plans
Pension Plans | 12 Months Ended |
Dec. 31, 2019 | |
Pension Plans [Abstract] | |
PENSION PLANS | NOTE 36 PENSION PLANS The Bank has an additional benefit available to its principal executives, consisting of a pension plan. The purpose of the pension plan is to endow the executives with funds for a better supplementary pension upon their retirement. For this purpose, the Bank will match the voluntary contributions made by the beneficiaries for their future pensions with an equivalent contribution. The executives will be entitled to receive this benefit only when they fulfill the following conditions: a. Aimed at the Bank's management b. The general requisite to apply for this benefit is that the employee must be carrying out his/her duties when turning 60 years old c. The Bank will create a pension fund, with life insurance, for each beneficiary in the plan. Periodic contributions into this fund are made by the manager and matched by the Bank d. The Bank will be responsible for granting the benefits directly If the working relationship between the manager and the respective company ends, before s/he fulfills the abovementioned requirements, s/he will have no rights under this benefit plan. In the event of the executive's death or total or partial disability, s/he will be entitled to receive this benefit. The Bank will make contributions to this benefit plan on the basis of mixed collective insurance policies whose beneficiary is the Bank. The life insurance company with whom such policies are executed is not an entity linked or related to the Bank or any other Santander Group company. Plan Assets owned by the Bank at the end of 2019 totaled Ch$7,195 million (Ch$6,804 million in 2018). The amount of the defined benefit plans has been quantified by the Bank, based on the following criteria: Calculation method: Use of the projected unit credit method which considers each working year as generating an additional amount of rights over benefits and values each unit separately. It is calculated based primarily on fund contributions, as well as other factors such as the legal annual pension limit, seniority, age and yearly income for each unit valued individually. Assets related to the pension fund contributed by the Bank into the Seguros Euroamérica insurance company with respect to defined benefit plans are presented as net of associated commitments. Actuarial hypothesis assumptions: Actuarial assumptions with respect to demographic and financial variables are non-biased and mutually compatible with each other, The most significant actuarial hypotheses considered in the calculations were: Plans Plans 2019 2018 Mortality chart RV-2014 RV-2014 Termination of contract rates 5,0% 5,0% Impairment chart PDT 1985 PDT 1985 Activity for post-employment benefits is as follows: As of December 31, 2019 2018 MCh$ MCh$ Plan assets 7,195 6,804 Commitments for defined-benefit plans For active personnel (6,525 ) (5,958 ) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 670 846 Year's cash flow for post-employment benefits is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 6,804 7,919 6,612 Expected yield of insurance contracts 333 353 307 Employer contributions 859 836 1,931 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (801 ) (2,304 ) (931 ) Fair value of plan assets at year end 7,195 6,804 7,919 b) Present value of obligations Present value of obligations opening balance (5,958 ) (6,998 ) (4,975 ) Net incorporation of Group companies - - - Service cost (567 ) (1,069 ) (2,039 ) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other - 2,109 16 Present value of obligations at year end (6,525 ) (5,958 ) (6,998 ) Net balance at year end 670 846 921 Plan expected profit: As of December 31, 2019 2018 2017 Type of expected yield from the plan's assets UF + 2,50% annual UF + 2,50% annual UF + 2,50% annual Type of yield expected from the reimbursement rights UF + 2,50% annual UF + 2,50% annual UF + 2,50% annual Plan associated expenses: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Current period service expenses 566 1,069 2,039 Interest cost - - - Expected yield from plan's assets (333 ) (353 ) (307 ) Expected yield of insurance contracts linked to the Plan: Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 233 716 1,732 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities [Abstract] | |
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES | NOTE 37 FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The measurement of fair value assumes the sale transaction of an asset or the transference of the liability happens within the main asset or liability market, or the most advantageous market for the asset or liability. For financial instruments with no available market prices, fair values have been estimated by using recent transactions in analogous instruments, and in the absence thereof, the present values or other valuation techniques based on mathematical valuation models sufficiently accepted by the international financial community. In the use of these models, consideration is given to the specific particularities of the asset or liability to be valued, and especially to the different kinds of risks associated with the asset or liability. These techniques are significantly influenced by the assumptions used, including the discount rate, the estimates of future cash flows and prepayment expectations. Hence, the fair value estimated for an asset or liability may not coincide exactly with the price at which that asset or liability could be delivered or settled on the date of its valuation, and may not be justified in comparison with independent markets. Except as detailed in the following table, management considers that the carrying amounts of financial assets and financial liabilities recognised in the consolidated financial statements approximate their fair values. Determination of fair value of financial instruments Below is a comparison between the value at which the Bank's financial assets and liabilities are recorded and their fair value as of December 31, 2019 and 2018: As of December 31, 2019 2018 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Financial derivative contracts 8,148,608 8,148,608 3,100,635 3,100,635 Financial assets held for trading 270,204 270,204 77,041 77,041 Loans and accounts receivable at amortised cost, net 31,775,420 34,602,793 29,331,001 30,505,023 Loans and accounts receivable at FVOCI, net 66,065 66,065 68,588 68,588 Debt instrument at FVOCI 4,010,272 4,010,272 2,394,323 2,394,323 Guarantee deposits (margin accounts) 314,616 314,616 170,232 170,232 Liabilities Deposits and interbank borrowings 26,010,067 26,200,921 23,597,863 23,770,106 Financial derivative contracts 7,390,654 7,390,654 2,517,728 2,517,728 Issued debt instruments and other financial liabilities 9,727,081 10,718,997 8,330,633 8,605,135 Guarantees received (margin accounts) 994,714 994,714 371,512 371,512 The fair value approximates the carrying amount of the following line items due to their short-term nature: cash and deposits-banks, cash items in process of collection and investments under resale or repurchase agreements. In addition, the fair value estimates presented above do not attempt to estimate the value of the Bank's profits generated by its business activity, nor its future activities, and accordingly, they do not represent the Bank's value as a going concern. Below is a detail of the methods used to estimate the financial instruments' fair value. a) Financial assets held for trading and Debt instruments at FVOCI The estimated fair value of these financial instruments was established using market values or estimates from an available dealer, or quoted market prices of similar financial instruments. Investments are evaluated at recorded value since they are considered as having a fair value not significantly different from their recorded value. To estimate the fair value of debt investments or representative values in these lines of businesses, we take into consideration additional variables and elements, as long as they apply, including the estimate of prepayment rates and credit risk of issuers. b) Loans and accounts receivable at amortised cost Fair value of commercial, mortgage and consumer loans and credit cards are measured through a discounted cash flow (DCF) analysis. To do so, we use current market interest rates considering product, term, amount and similar loan quality. Fair value of loans with 90 days or more of delinquency are measured by means of the market value of the associated guarantee, minus the rate and term of expected payment. For variable rate loans whose interest rates change frequently (monthly or quarterly) and that are not subjected to any significant credit risk change, the estimated fair value is based on their book value. c) Deposits Disclosed fair value of deposits that do not bear interest and saving accounts is the amount payable at the reporting date and, therefore, equals the recorded amount. Fair value of time deposits is calculated through a discounted cash flow calculation that applies current interest rates from a monthly calendar of scheduled maturities in the market. d) Short and long term issued debt instruments The fair value of these financial instruments is calculated by using a discounted cash flow analysis based on the current incremental lending rates for similar types of loans having similar maturities. e) Financial derivative contracts The estimated fair value of financial derivative contracts is calculated using the prices quoted on the market for financial instruments having similar characteristics. The fair value of interest rate swaps represents the estimated amount that the Bank determines as exit price in accordance with IFRS 13. If there are no quoted prices from the market (either direct or indirect) for any derivative instrument, the respective fair value estimates have been calculated by using models and valuation techniques such as Black-Scholes, Hull, and Monte Carlo simulations, taking into consideration the relevant inputs/outputs such as volatility of options, observable correlations between underlying assets, counterparty credit risk, implicit price volatility, the velocity with which the volatility reverts to its average value, and the straight-line relationship (correlation) between the value of a market variable and its volatility, among others. Measurement of fair value and hierarchy IFRS 13 - Fair Value Measurement, provides a hierarchy of reasonable values which separates the inputs and/or valuation technique assumptions used to measure the fair value of financial instruments. The hierarchy reflects the significance of the inputs used in making the measurement. The three levels of the hierarchy of fair values are the following: ● Level 1: the inputs are quoted prices (unadjusted) on active markets for identical assets and liabilities that the Bank can access on the measurement date ● Level 2: inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly ● Level 3: inputs are unobservable inputs for the asset or liability i.e. they are not based on observable market data The hierarchy level within which the fair value measurement is categorized in its entirety is determined based on the lowest level of input that is significant to the fair value measurement in its entirety. The best evidence of a financial instrument's fair value at the initial time is the transaction price. In cases where quoted market prices cannot be observed, Management makes its best estimate of the price that the market would set using its own internal models which in most cases use data based on observable market parameters as a significant input (Level 2) and, in very specific cases, significant inputs not observable in market data (Level 3), various techniques are employed to make these estimates, including the extrapolation of observable market data. Financial instruments at fair value and determined by quotations published in active markets (Level 1) include: - Chilean Government and Department of Treasury bonds - Mutual funds Instruments which cannot be 100% observable in the market are valued according to other inputs observable in the market (Level 2). The following financial instruments are classified under Level 2: Type of Model Description of unobservable inputs ● Mortgage and private bonds Present Value of Cash Flows Model Internal Rates of Return ("IRRs") are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given nemotechnic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on historical spread for the same item or similar ones. ● Time deposits Present Value of Cash Flows Model IRRs are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given mnemonic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on issuer curves. ● Constant Maturity Swaps (CMS), FX and Inflation Forward (Fwd), Cross Currency Swaps (CCS), Interest Rate Swap (IRS) Present Value of Cash Flows Model IRRs are provided by ICAP, GFI, Tradition, and Bloomberg according to this criterion: With published market prices, a valuation curve is created by the bootstrapping method and is then used to value different derivative instruments. ● FX Options Black-Scholes Formula adjusted by the volatility simile (implicit volatility), Prices (volatility) are provided by BGC Partners, according to this criterion: With published market prices, a volatility parameter is created by interpolation and then these volatilities are used to value options. ● Guarantee deposits, guarantee received (Threshold) Present Value of Cash Flows Model Collateral associated to derivatives financial contracts: Average trading swap (CMS), FX and inflation Forward, Cross Currency Swap (CCS), Interest Rate Swap (IRS) y FX options. In limited occasions significant inputs not observable in market data are used (Level 3). To carry out this estimate, several techniques are used, including extrapolation of observable market data or a mix of observable data. The following financial instruments are classified under Level 3: Type of financial instrument Model used in valuation Description of no observable inputs ● Caps/ Floors/ Swaptions Black Normal Model for Cap/Floors and Swaptions There is no observable input of implicit volatility. ● UF options Black – Scholes There is no observable input of implicit volatility. ● Cross currency swap with window Hull-White Hybrid HW model for rates and Brownian motion for FX There is no observable input of implicit volatility. ● CCS (special contracts) Implicit Forward Rate Agreement (FRA) Start Fwd unsupported by MUREX (platform) due to the UF forward estimate. ● Cross currency swap, Interest rate swap, Call money swap in Tasa Activa Bancaria (Active Bank Rate) TAB, Present Value of Cash Flows Model Validation obtained by using the interest curve and interpolating flow maturities, but TAB is not a directly observable variable and is not correlated to any market input. ● Debt instruments (in our case, low liquidity bonds) Present Value of Cash Flows Model Valued by using similar instrument prices plus a charge-off rate by liquidity. ● Loans and account receivable at FVOCI Present Value of Cash Flows Model Measured by discounting estimated cash flow using the interest rate of new contracts. The Bank does not believe that any change in unobservable inputs with respect to level 3 instruments would result in a significantly different fair value measurement. The following table presents the assets and liabilities that are measured at fair value on a recurrent basis: Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 270,204 270,204 - - Loans and accounts receivable at FVOCI, net 66,065 - - 66,065 Debt instruments at FVOCI 4,010,272 3,992,421 17,146 705 Derivatives 8,148,608 - 8,133,700 14,908 Guarantee deposits (margin accounts) 314,616 - 314,616 - Total 12,809,765 4,262,625 8,465,462 81,678 Liabilities Derivatives 7,390,654 - 7,387,704 2,950 Guarantees received (margin accounts) 994,714 - 994,714 - Total 8,385,368 - 8,382,418 2,950 Fair value measurement As of December 31, 2018 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 77,041 71,158 5,883 - Loans and accounts receivable at FVOCI, net 68,588 - - 68,588 Debt instruments at FVOCI 2,394,323 2,368,768 24,920 635 Derivatives 3,100,635 - 3,089,077 11,558 Guarantee deposits (margin accounts) 170,232 - 170,232 - Total 5,810,819 2,439,926 3,290,112 80,781 Liabilities Derivatives 2,517,728 - 2,516,933 795 Guarantees received (margin accounts) 371,512 - 371,512 - Total 2,889,240 - 2,888,445 795 The following table presents assets or liabilities which are not measured at fair value in the statements of financial position but for which the fair value is disclosed: Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortised cost, net 34,602,793 - - 34,602,793 Total 34,602,793 - - 34,602,793 Liabilities Deposits and interbank borrowings 26,200,921 - 15,903,489 10,297,432 Issued debt instruments and other financial liabilities 10,718,997 - 10,718,997 - Total 36,919,918 - 26,622,486 10,297,432 Fair value measurement As of December 31, 2018 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortised cost, net 30,505,023 - - 30,505,023 Total 30,505,023 - - 30,505,023 Liabilities Deposits and interbank borrowings 23,770,106 - 15,028,689 8,741,417 Issued debt instruments and other financial liabilities 8,605,135 - 8,605,135 - Total 32,375,241 - 23,633,824 8,741,417 The fair values of other assets and other liabilities approximate their carrying values. The methods and assumptions to estimate the fair value are defined below: - Loans and amounts due from credit institutions and from customers – Fair value are estimated for groups of loans with similar characteristics. The fair value was measured by discounting estimated cash flow using the interest rate of new contracts. That is, the future cash flow of the current loan portfolio is estimated using the contractual rates, and then the new loans spread over the risk-free interest rate are incorporated to the risk-free yield curve in order to calculate the loan portfolio fair value. In terms of behavior assumptions, it is important to underline that a prepayment rate is applied to the loan portfolio, thus a more realistic future cash flow is achieved. - Deposits and interbank borrowings – The fair value of deposits was calculated by discounting the difference between the cash flows on a contractual basis and current market rates for instruments with similar maturities. For variable-rate deposits, the carrying amount was considered to approximate fair value. - Issued debt instruments and other financial liabilities – The fair value of long-term loans were estimated by cash flow discounted at the interest rate offered on the market with similar terms and maturities. The valuation techniques used to estimate each level are defined in Note 1,k) There were no transfer between levels 1 and 2 for the year ended December 31, 2019 and 2018. The table below shows the effect, at December 31, 2019 and 2018, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by a sensitivity analysis under a 1bp scenario, detailed in the following table: As of December 31, 2019 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts Derivatives Present Value method Curves on TAB (1) (2,3) 2,3 Debt instruments at FVOCI Internal rate of return method BR UF (2) - - As of December 31, 2018 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts Derivatives Present Value method Curves on TAB (1) (1,3) 1,3 Available for sale investments Internal rate of return method BR UF (2) - - (1) TAB: "Tasa Activa Bancaria" (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). (2) BR: "Bonos de Reconocimiento" (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. The following table presents the Bank's activity for assets and liabilities measured at fair value on a recurrent basis using unobserved significant inputs (Level 3) as of December 31, 2019 and 2018: Assets Liabilities MCh$ MCh$ As of January 1, 2019 80,781 795 Total realized and unrealized profits (losses) Included in statements of income 827 2,155 Included in other comprehensive income 70 - Purchases, issuances, and loans (net) - - As of December 31, 2019 81,678 2,950 Total profits or losses included in comprehensive income for 2019 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2018 897 2,155 Assets Liabilities MCh$ MCh$ As of January 1, 2018 22,987 7 Total realized and unrealized profits (losses) Included in statements of income 57,769 (802 ) Included in other comprehensive income 25 - Purchases, issuances, and loans (net) - - As of December 31, 2018 80,781 (795 ) Total profits or losses included in comprehensive income for 2018 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2017 57,794 (802 ) The realized and unrealized profits (losses) included in comprehensive income for 2019 and 2018, in the assets and liabilities measured at fair value on a recurrent basis through unobservable market data (Level 3) are recorded in the Statements of Comprehensive Income. The potential effect as of December 31, 2019 and 2018 on the valuation of assets and liabilities valued at fair value on a recurrent basis through unobservable significant inputs (level 3), generated by changes in the principal assumptions if other reasonably possible assumptions that are less or more favorable were used, is not considered by the Bank to be significant. The following tables show the financial instruments subject to compensation in accordance with IAS 32, for 2019 and 2018: As of December 31, 2019 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 8,148,151 - 8,148,151 457 8,148,608 Investments under resale agreements - - Loans and accounts receivable at amortised cost, net - 31,775,420 31,775,420 Loans and accounts receivable at FVOCI, net 66,065 - 66,065 66,065 Total 8,214,216 - 8,148,151 31,841,942 39,990,093 Liabilities Financial derivative contracts 7,388,145 - 7,388,145 2,509 7,390,654 Investments under resale agreements 380,055 - 380,055 - 380,055 Deposits and interbank borrowings - - - 26,010,067 26,010,067 Total 7,768,200 - 7,768,200 26,012,576 33,780,776 As of December 31, 2018 Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount presented Remains of unrelated Amount in Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 1,947,726 - 1,947,726 1,152,909 3,100,635 Obligations under repurchase agreements - - - - - Loans and accounts receivable at amortised cost, net - - - 29,331,001 29,331,001 Loans and accounts receivable at FVOCI, net 68,588 - - 68,588 68,588 Total 2,016,314 - 1,947,726 30,552,498 32,500,224 Liabilities Financial derivative contracts 1,735,555 - 1,735,555 782,173 2,517,728 Investments under resale agreements 48,545 - 48,545 - 48,545 Deposits and interbank borrowings - - - 23,597,862 23,597,862 Total 1,784,100 - 1,784,100 24,380,035 26,164,135 The Bank, in order to reduce its credit exposure in its financial derivative operations, has entered into collateral contracts with its counterparties, in which it establishes the terms and conditions under which they operate. In terms collateral (received/delivered) operates when the net of the fair value of the financial instruments held exceed the thresholds defined in the respective contracts. As of December 31, 2019 As of December 31, 2018 Financial derivative contracts Assets Liability Assets Liability MM$ MM$ MM$ MM$ Financial derivative contracts with collateral agreement threshold equal to zero 7,478,837 6,748,219 2,639,835 2,133,149 Financial derivative contracts with non-zero threshold collateral agreement 532,298 517,814 344,520 262,683 Financial derivative contracts without collateral agreement 137,472 124,621 116,280 121,896 Total 8,148,607 7,390,654 3,100,635 2,517,728 |
Risk Management
Risk Management | 12 Months Ended |
Dec. 31, 2019 | |
Risk Management [Abstract] | |
RISK MANAGEMENT | 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days
Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured
marked for monitoring
Clients that are considered to be substandard or in incompliance (pre-legal action) Clients
that are considered to be substandard or in incompliance (pre-legal action) Clients
that are considered to be substandard or in incompliance (pre-legal action) These thresholds are defined by the Model Committee and the
Integral Risk Committee, and are evaluated annually with updates made depending on impacts and definitions of the risk models associated
to each portfolio.
f. Grouping financial assets measured on a collective basis The Bank calculates ECLs either on a collective
or an individual basis. The evaluates on individual basis commercial
loans that are greater than Ch$400 million (US$240,000), while smaller commercial loans, mortgage loans and consumer loans are
grouped into homogeneous portfolios, based on a combination of internal and external characteristics.
g. Modified loans When loan measured at amortised cost has
been renegotiated or modified but not derecognised, the Bank must recognise the resulting gains or losses as the difference between
the carrying amount of the original loans and modified contractual cash flows discounted using the EIR before modification. If the modification does not result in
derecognition, then the subsequent assessment of whether there is a significant increase in credit risk is made comparing the risk
at the reporting date based on the modified contractual term and the risk at initial recognition based on the original, unmodified
contractual term. If the modification results in derecognition,
then the modified asset is considered to be a new asset. Accordingly, the date of modification is treated as the date of initial
recognition for the purposes of the impairment requirements.
As of December 31, 2019 As of December 31, 2018
Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total
MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Gross carrying amount 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,116 30,213,415
Modified loans - 512,529 611,316 1,123,845 - 582,513 815,094 1,397,607
% - 25.68 % 37.41 % 3.44 % - 32.42 % 54.23 % 4.63 %
ECL allowance 133,269 121,261 641,565 896,095 153,640 125,114 603,660 882,414
Modified loans - 36,329 242,649 278,978 - 44,099 323,802 367,901
% - 29.96 % 37.82 % 31.13 % - 35.25 % 53.64 % 41.69 %
h. Analysis of risk concentration The following table shows the risk concentration
by industry, and by stage before ECL allowance of loans and account receivable at amortised cost:
December 31, 2019 December 31, 2018
Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total
Commercial MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
loans
Manufacturing 1,110,484 107,356 67,974 1,285,814 992,786 92,931 54,048 1,139,765
Mining 280,297 123,005 3,739 407,041 182,342 21,821 4,585 208,748
Electricity, gas, and water 309,941 22,907 8,196 341,044 384,288 22,365 2,279 408,932
Agriculture and livestock 1,020,857 172,984 93,440 1,287,281 934,199 166,271 100,781 1,201,251
Forest 132,483 17,035 15,689 165,207 120,371 9,402 14,115 143,888
Fishing 223,980 24,879 7,695 256,554 238,348 11,104 3,569 253,021
Transport 665,570 64,115 34,192 763,877 716,493 55,011 37,802 809,306
Communications 206,660 28,122 6,168 240,950 178,215 30,407 7,222 215,844
Construction (*) 782,265 85,435 106,568 974,268 723,600 88,691 93,747 906,038
Commerce 2,655,982 110,326 30,107 2,796,415 2,950,517 189,623 199,924 3,340,064
Services 2,971,563 190,097 204,472 3,366,132 1,771,595 81,159 12,915 1,865,669
Other 3,442,541 298,806 236,395 3,977,742 4,120,052 331,470 242,097 4,693,619
Subtotal 13,802,623 1,245,067 814,635 15,862,325 13,312,806 1,100,255 773,084 15,186,145
Mortgage loans 10,275,966 457,948 529,081 11,262,995 9,258,962 447,496 444,523 10,150,981
Consumer loans 4,963,047 292,718 290,430 5,546,195 4,341,740 249,039 285,510 4,876,289
Total 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,117 30,213,415
(*) In 2019 we improved the classification of our construction
loans, reassigning loans for real state rental investment companies to services.
i. Macro economical forward-looking information and scenarios The annual growth forecasts for the most
relevant macroeconomic variables for each of our scenarios are as follows:
Average estimates 2020 - 2021
Unfavorable scenario 2 Unfavorable scenario 1 Base scenario Favorable scenario 1 Favorable scenario 2
Official interest rate 0.25 % 0.50 % 1.59 % 3.20 % 4.42 %
Unemployment rate 7.31 % 6.96 % 6.50 % 6.04 % 5.70 %
Housing Price growth (1.70 )% 1,04 % 4.67 % 8.30 % 11.04 %
GDP growth (1.16 )% 0.67 % 3.12 % 5.56 % 7.40 %
Consumer Price Index (0.26 )% 1.07 % 2.82 % 4.57 % 5.90 % The highest probability of occurrence is
associated to the base scenario, while the extreme scenarios have a lower probability than the more moderate scenarios. The methodology used for the generation
of the local scenarios is based on the Methodology Framework of the Corporate Research Service and is applied to the loan portfolio
with the exception of loans from the Corporate and Investment Banking segment which uses global scenarios as defined by the Santander
Group. The probabilities for the scenarios must total 100% and be symmetrical.
Local scenario Global scenario
Probability weighting Probability weighting
Favorable scenario 2 10 % Favorable scenario 1 30 %
Favorable scenario 1 15 % Base scenario 40 %
Base scenario 50 % Unfavorable scenario 1 30 %
Unfavorable scenario 1 15 %
Unfavorable scenario 2 10 % The ECL allowance sensibility to future
macro-economic conditions is as follows:
December 31, December 21,
MCh$ MCh$
Reported ECL allowance 896,095 882,414
Gross carrying amount 32,671,515 30,213,415
Reported ECL Coverage 2.74 % 2.92 %
ECL amount by scenarios
Favorable scenarios 2 797,501 745,089
Favorable scenarios 1 835,956 815,113
Base scenarios 884,480 879,358
Unfavorable scenarios 2 929,802 949,329
Unfavorable scenarios 2 962,437 970,563
Coverage ratio by scenarios
Favorable scenarios 2 2.44 % 2.46 %
Favorable scenarios 1 2.56 % 2.69 %
Base scenarios 2.71 % 2.90 %
Unfavorable scenarios 2 2.85 % 3.13 %
Unfavorable scenarios 2 2.95 % 3.21 %
j. Collateral and other credit enhancement The amount and type of collateral required depends on an assessment
of the credit risk of the counterparty. Guidelines are in place covering the acceptability and valuation of each type of collateral. The main types of collateral obtained are,
as follows:
● For
securities lending and reverse repurchase transactions, cash or securities
● For
corporate and small business lending, charges over real estate properties, inventory
and trade receivables and, in special circumstances, government guarantees
● For
retail lending, mortgages over residential properties The following table show the maximum exposure
to credit risk by class of financial asset, associated collateral and the net exposure to credit risk:
As of December 31,
2019 2018
Maximum Collateral Net Associated Maximum Collateral Net Associated
MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Commercial loans 15,928,491 8,180,015 7,748,476 506,670 15,254,838 7,369,291 7,885,547 506,908
Mortgage loans 11,262,995 10,725,604 537,391 101,059 10,150,981 9,699,324 451,657 91,270
Consumer Loans 5,546,195 748,577 4,797,618 288,467 4,876,289 754,920 4,121,369 284,342
Total 32,737,681 19,654,196 13,083,485 896,196 30,282,108 17,823,535 12,458,537 882,520
(*) Includes Loans and account receivable at FVOCI According to the Bank's policy when
an asset (real state) is repossessed are transferred to assets held for sale at their fair value less cost to sell as non-financial
assets at the repossession date. Maximum exposure to credit risk Financial assets and off-balance sheet commitments For financial assets recognised in the
Consolidated Statements of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution
by financial asset and off-balance sheet commitments of the Bank's maximum exposure to credit risk as of December 31, 2019
and 2018, without deduction of collateral, security interests or credit improvements received:
As of December 31,
2019 2018
Amount of exposure Amount of exposure
Note MCh$ MCh$
Deposits in banks 5 2,693,342 1,240,578
Cash items in process of collection 5 355,062 353,757
Financial derivative contracts 8 8,148,608 3,100,635
Financial assets held for trading 6 270,204 77,041
Loans and account receivable at amortised cost / Loans and account receivable at FVOCI 9 /10 31,841,485 29,399,589
Debt instrument at fair value through other comprehensive income 11 4,010,272 2,394,323
Off-balance commitments:
Letters of credit issued 140,572 223,420
Foreign letters of credit confirmed 70,192 57,038
Performance guarantees 1,929,894 1,954,205
Available credit lines 8,732,422 8,997,650
Personal guarantees 451,950 133,623
Other irrevocable credit commitments 485,991 327,297
Total 59,129,994 48,345,002 Foreign derivative contracts As of December 31, 2019, the Bank's
foreign exposure -including counterparty risk in the derivative instruments' portfolio- was USD 2,309 million or 3,65% of
assets. In the table below, exposure to derivative instruments is calculated by using the equivalent credit risk; which equals
the replacement carrying amount plus the maximum potential value, considering the cash collateral that minimizes exposure. Below, there are additional details regarding
our exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1, Below we
detail as of December 31, 2019, considering fair value of derivative instruments.
Country Classification Derivative Instruments (adjusted to market) USD Deposits Loans USD Financial USD Total Exposure USD
China 2 0.00 0.00 7.23 0.00 7.23
Colombia 2 1.24 0.00 0.00 0.00 1.24
Italy 2 0.00 1.36 0.32 0.00 1.68
Mexico 2 9.42 0.04 0.00 0.00 9.46
Panama 2 1.50 0.00 0.00 0.00 1.50
Peru 2 2.20 0.00 0.00 0.00 2.20
Uruguay 2 0.00 0.00 0.10 0.00 0.10
Total 14.36 1.40 7.65 0.00 23.41 Our
exposure to the group is as follows:
Counterpart Country Classification Derivative instruments MUSD Deposits MUSD Loans MUSD Financial Investments MUSD Exposure Exposure MUSD
Banco Santander España (*) Spain 1 319.0 54.8 0.4 0.0 374.20
Santander UK UK 1 24.0 2.0 0.0 0.0 26.00
Banco Santander Mexico Mexico 2 9.4 0.0 0.0 0.0 9.4
Total 352.4 56.8 0.4 0.0 409.6
(*) The total amount of this
exposure to derivative instruments must be compensated daily with collateral and, therefore, the net credit exposure is USD 0. Security interests and credit improvements The maximum exposure to credit risk is
reduced in some cases by security interests, credit improvements, and other actions which mitigate the Bank's exposure. Based
on the foregoing, the creation of security interests are a necessary but not a sufficient condition for granting a loan; accordingly,
the Bank's acceptance of risks requires the verification of other variables and parameters, such as the ability to pay or
generate funds in order to mitigate the risk being taken on. The procedures used for the valuation of
security interests utilize the prevailing market practices, which provide for the use of appraisals for mortgage securities, market
prices for stock securities, fair value of the participating interest for investment funds, etc. All security interests received
must be instrumented properly and registered on the relevant register, as well as have the approval of legal divisions of the Bank. The risk management model includes assessing
the existence of adequate and sufficient guarantees that allow recovering the credit when the debtor's circumstances " id="sjs-B4" xml:space="preserve">RISK MANAGEMENT Introduction and general description The Bank, due to its activities with financial instruments is exposed to several types of risks. The main risks related to financial instruments that apply to the Bank are as follows: - Market risk a. Foreign exchange risk: this arises as a consequence of exchange rate fluctuations among currencies. b. Interest rate risk: this arises as a consequence of fluctuations in market interest rates. c. Price risk: this arises as a consequence of changes in market prices, either due to factors specific to the instrument itself or due to factors that affect all the instruments negotiated in the market. d. Inflation risk: this arises as a consequence of changes in Chile's inflation rate, whose effect would be mainly applicable to financial instruments denominated in UFs. - Credit risk - Liquidity risk - Capital risk This note includes information on the Bank's exposure to these risks and on its objectives, policies, and processes involved in their measurement and management. Risk management structure The Board is responsible for the establishment and monitoring of the Bank's risk management structure, for which purpose it has an on-line corporate governance system which incorporates international recommendations and trends, adapted to Chilean regulatory conditions and given it the ability to apply the most advanced practices in the markets in which the Bank operates. The effectiveness with which we are able to manage the balance between risk and reward is a significant factor in our ability to generate long term, stable earnings growth. Toward that end, our Board and senior management places great emphasis on risk management. A. Integral Risk Committee The Integral Risk Committee of the Board is responsible for reviewing and monitoring all risks that may affect us, including reputation risk, allowing for an integral risk management. This committee serves as the governing body through which the Board supervises risk in general. It also evaluates the reasonability of the systems for measurement and control of risks. ● Credit risk ● Market risk ● Operational risk ● Solvency risk (BIS) ● Legal risks ● Compliance risks ● Reputational risks This Committee includes the Vice Chairman of the Board and five Board members. This committee also includes the CEO, the Director of Risk and other senior level executives from the commercial side of our business. B. Audit Committee The Audit Committee ( Comité de Directores y Auditoría C. Asset and Liability Committee The ALCO includes the Chairman of the Board and five additional members of the Board, the Chief Executive Officer, the Corporate Financial Controller, the Manager of the Financial Management Division, the Manager of Market Risk, the Manager of the Treasury Division, and other senior members of management. The ALCO meets monthly. All limits reviewed by the ALCO are measured and prepared by the Market Risk Department. The non-Board members of the ALCO meet weekly to review liquidity, funding, capital and market risk related matters. The main functions of the ALCO are: ● Making the most important decisions regarding our exposure to inflation, interest rate risk, funding, capital and liquidity levels. The main limits set and monitored by the ALCO (and measured by the Market Risk Department) are: ● Review of the Bank's inflation gap ● Review of the evolution of the most relevant local and international markets and monetary policies D. Market Committee The Market Committee includes the Vice-Chairman of the Board, three additional members of the Board, the Chief Executive Officer, the Manager of Global Banking and Markets, the Manager of the Treasury Division, the Manager of the Financial Management Division, the Manager of Market Risk, the Financial Controller and other senior members of management. The Market Committee is responsible for: ● Establishing a strategy for the Bank's trading investment portfolio ● Establishing the Bank's policies, procedures and limits with respect to its trading portfolio. The Bank's Market Risk Department measures all risks and limits and reports these to the Market Committee ● Reviewing the net foreign exchange exposure and limit ● Reviewing the evolution of the most relevant local and international markets and monetary policies E. Risk Department All issues regarding risk in the Bank are the responsibility of the Bank's Risk Department. The Risk Department reports to the CEO but has full independence, and no risk decisions can be made without its approval. Credit risk Credit risk is the risk that one of the parties to a financial instrument fails to meet its contractual obligations for reasons of insolvency or inability of the individuals or legal entities in question to continue as a going concern, causing a financial loss to the other party. The Bank consolidates all elements and components of credit risk exposure to manage credit risk (i.e., individual delinquency risk, inherent risk of a business line or segment, and/or geographical risk). In Note 9 and Note 11, we present our net exposure to credit risk at December 31, 2019 and 2018. Credit Risk Governance The Risk Division, our credit analysis and risk management group, is largely independent of our Commercial Division, Risk evaluation teams interact regularly with our clients. For larger transactions, risk teams in our headquarters work directly with clients when evaluating credit risks and preparing credit applications. Various credit approval committees, all of which include Risk Division and Commercial Division personnel, must verify that the appropriate qualitative and quantitative parameters are met by each applicant. Each committee's powers are defined by our Board of Directors. Santander-Chile's governance rules have established the existence of the Integral Risk Committee. This committee is responsible for revising and following all risks that may affect us, including reputational risk, allowing for an integral risk management. This committee serves as the governing body through which the Board supervises all risk functions. It also evaluates the reasonability of the systems for measurement and control of risks. This Committee includes the Vice Chairman of the Board and five Board members. The Board has delegated the duty of credit risk management to the Integral Risk Committee, as well as to the Bank's risk departments, whose roles are summarized below: ● Verify compliance with the strategic objectives of the group, depending on both assumed and potential risk, and alerting management to such risks. ● Propose the primary metrics for risk appetite framework. ● Review the level of compliance with regulatory provisions and recommendations issued by the Local and External Supervisors, ensuring their implementation on the stipulated dates. ● Analyze with a comprehensive vision, the map of recommendations and incidents formulated by the different control instances (FMC-former SBIF, DAI and External Audit) in order to identify the main risks involved. ● Review the risk benchmark analysis, and from its results, identify and propose "best practices" or corrective / preventive actions, ensuring their proper implementation. ● Review the adequate management of risks by the management areas, formulating where appropriate, the mitigation actions in accordance with the policies approved by the Board. ● Monitoring, analysis and control of the limits defined in the Risk Framework (basic and complementary metrics) and the key credit risk indicators of each zone, segment or product, identifying possible sources of concern. ● Analyze the relevant aspects of the risk (exogenous variables), which could eventually materialize in possible losses for the business (emerging risks). ● Analyze and propose eventual changes in the policies and procedures used by the Bank for the administration, control and management of risks, when inconsistencies or vulnerabilities are verified. ● Encourage compliance by the Bank with the best corporate governance practices in risk management, ● Pre-review the documents of type 0 and 1 (Frames and Models) that were defined in the Approval Hierarchy model, which must then be approved in the Directory. ● Perform, according to the calendar proposed by the Risk Department or on request, the sectoral analyzes considered relevant. ● Review of risks in terms of Risk Compliance and Reputational Risk. ● Any other task that the Board deems necessary. The following diagram illustrates the governance of our credit risk division including the committees with approval power: Role of Santander Spain's Global Risk Department: Credit Risk In matters regarding Credit Risk, Santander Spain's Global Risk Department has the following role: ● All credit risks greater than U.S.$80 million, after being approved locally, are reviewed by Santander Spain. This additional review ensures that no global exposure limit is being breached. ● In standardized risks, the consumer and mortgage scoring models are developed locally but are reviewed and approved by Santander Spain's Global Risk Department. ● For each scoring model, a quarterly Risk Report is prepared, which is reviewed locally and is also sent to Santander Analitycs (Santander Spain). This report includes the evolution of basic credit risk parameters such as loan amounts, non-performance, charge-offs and provisions. ● Monthly, the Controller of the Risk Department sends a report to Santander Spain's Global Risk Department covering all the main indicators regarding credit risk and the evolution of credit risk as compared to the budgeted levels. Impairment assessment (policy applicable from January 1, 2019) In accordance with the requirements of IFRS 9 the Bank has developed a new credit risk model, applicable from January 1, 2019. a. Definition of default and cure The Bank considers a financial instrument defaulted and therefore Stage 3 for ECL calculations in all cases when the borrower becomes 90 days past due on its contractual payments. As a part of a qualitative assessment of whether a customer is in default, the Bank also considers a variety of instances that may indicate unlikeliness to pay. Such events include: ● Internal rating of the borrower indicating default or near default ● The borrower requesting emergency funding from the Bank ● The borrower having past due liabilities to public creditors or employees ● The borrower is deceased ● A material decrease in the underlying collateral value where the recovery of the loan is expected from the sale of the collateral ● A material decrease in the borrower's turnover or the loss of a major customer ● A covenant breach not waived by the Bank ● The debtor (or any legal entity within the debtor's group) filing for bankruptcy application/protection ● Debtor's listed debt or equity suspended at the primary exchange because of rumors or facts about financial difficulties It is the Bank's policy to consider a financial instrument as 'cured' and therefore re-classified out of Stage 3 when none of the default criteria have been present for at least twelve consecutive months (and 24 months for special vigilance operations). The decision whether to classify an asset as Stage 2 or Stage 1 once cured depends on the updated credit grade, at the time of the cure, and whether this indicates there has been a significant increase in credit risk compared to initial recognition. b. Internal rating and PD estimation The Bank's Credit Risk Department operates its internal rating models. The models incorporate both qualitative and quantitative information and, in addition to information specific to the borrower utilise supplemental external information that could affect the borrower's behavior. The internal credit grades are assigned based on the internal scoring policy, PDs are then adjusted for IFRS 9 ECL calculations to incorporate forward looking information and the IFRS 9 Stage classification of the exposure. The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2019 and 2018: December 31, 2019 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage Portfolio MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 99,042 - - 99,042 0.30 % 2 - 2 0.00 % A2 907,659 37 - 907,696 2.78 % 443 - 443 0.05 % A3 2,418,990 61 - 2,419,051 7.41 % 2,617 - 2,617 0.29 % A4 3,262,671 7,184 - 3,269,855 10.01 % 4,399 22 4,421 0.49 % A5 2,188,717 22,163 - 2,210,880 6.77 % 7,618 515 8,133 0.91 % A6 1,086,401 47,157 487 1,134,045 3.47 % 6,461 1,410 208 8,079 0.90 % B1 - 603,201 - 603,201 1.85 % - 12,641 - 12,641 1.41 % B2 - 82,781 560 83,341 0.26 % - 3,773 205 3,978 0.44 % B3 - 85,034 817 85,851 0.26 % - 3,367 261 3,628 0.40 % B4 - 83,039 50,662 133,701 0.41 % - 4,085 21,910 25,995 2.90 % C1 - 45,433 113,004 158,437 0.48 % - 3,516 50,440 53,956 6.02 % C2 - 8,865 66,965 75,830 0.23 % - 614 28,504 29,118 3.25 % C3 - 15,762 32,839 48,601 0.15 % - 221 11,281 11,502 1.28 % C4 - 2,405 38,967 41,372 0.13 % - 170 20,039 20,209 2.26 % C5 - 847 44,057 44,904 0.14 % - 43 27,586 27,629 3.08 % C6 - 998 52,649 53,647 0.16 % - 12 35,732 35,744 3.99 % Subtotal 9,963,480 1,004,967 401,007 11,369,454 34.80 % 21,540 30,389 196,166 248,095 27.69 % Collectively assessed Stage 1 Stage 2 Stage 3 Total Group Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial 3,839,143 240,100 413,628 4,492,871 13.75 % 35,887 25,555 197,032 258,474 28.84 % Mortgage 10,275,966 457,948 529,081 11,262,995 34.47 % 8,446 14,509 78,104 101,059 11.28 % Consumer 4,963,047 292,718 290,430 5,546,195 16.98 % 67,396 50,808 170,263 288,467 32.19 % Subtotal 19,078,156 990,766 1,233,139 21,302,061 65.20 % 111,729 90,872 445,399 648,000 72.31 % Total 29,041,636 1,995,733 1,634,146 32,671,515 100.00 % 133,269 121,261 641,565 896,095 100.00 % December 31, 2018 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage Portfolio MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 29,998 - - 29,998 0,10 % 2 - - 2 0,00 % A2 1,074,789 - - 1,074,789 3,56 % 525 - - 525 0,06 % A3 2,699,684 309 - 2,699,993 8,94 % 2,526 - - 2,526 0,29 % A4 3,200,608 16,546 - 3,217,154 10,65 % 8,865 323 - 9,188 1,04 % A5 1,755,259 26,141 - 1,781,400 5,90 % 11,296 453 - 11,749 1,33 % A6 935,499 45,671 - 981,170 3,25 % 6,975 2,213 - 9,188 1,04 % B1 - 494,915 187 495,102 1,64 % - 14,107 79 14,186 1,61 % B2 - 81,955 156 82,111 0,27 % - 2,786 66 2,852 0,32 % B3 - 67,089 614 67,703 0,22 % - 3,841 233 4,074 0,46 % B4 - 47,653 45,480 93,133 0,31 % - 2,488 19,688 22,176 2,51 % C1 - 46,383 108,325 154,708 0,51 % - 2,548 48,147 50,695 5,75 % C2 - 15,678 39,246 54,924 0,18 % - 1,261 18,171 19,432 2,20 % C3 - 19,655 26,204 45,859 0,15 % - 733 10,803 11,536 1,31 % C4 - 3,560 32,445 36,005 0,12 % - 246 17,077 17,323 1,96 % C5 - 703 64,762 65,465 0,22 % - 32 40,541 40,573 4,60 % C6 - 1,525 69,511 71,036 0,22 % - 35 43,310 43,345 4,91 % Subtotal 9,695,837 867,783 386,930 10,950,550 36,24 % 30,189 31,066 198,115 259,370 29,39 % Collectively assessed Stage 1 Stage 2 Stage 3 Total Group Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial 3,616,969 232,472 386,154 4,235,595 14,02 % 43,541 24,574 179,317 247,432 28,04 % Mortgage 4,341,740 249,039 285,510 4,876,289 16,14 % 70,904 54,372 159,066 284,342 32,23 % Consumer 9,258,962 447,496 444,523 10,150,981 33,60 % 9,006 15,102 67,162 91,270 10,34 % Subtotal 17,217,671 929,007 1,116,187 19,262,865 63,76 % 123,451 94,048 405,545 623,044 70,61 % Total 26,913,508 1,796,790 1,503,117 30,213,415 100,00 % 153,640 125,114 603,660 882,414 100,00 % In relation to the credit quality of the investment portfolio, local regulations specify that banks are able to hold only local and foreign fixed–income securities except in certain cases. Additionally, Banco Santander-Chile has internal policies to ensure that only securities approved by the Market Risk department, which are stated in the documents "APS" – Products and underlying Approval, are acquired. The Credit Risk Department sets the exposure limits to those approved APS's. The APS is updated on daily basis. As of December 31, 2019, 99% our total investment portfolio corresponds to securities issued by the Chilean Central Bank and US treasury notes. c. Exposure at default The exposure at default (EAD) represents the gross carrying amount of the financial instruments subject to the impairment calculation, addressing both the client's ability to increase its exposure while approaching default and potential early repayments too. To calculate the EAD for a Stage 1 loan, the Bank assesses the possible default events within 12 months for the calculation of the 12mECL. However, if a Stage 1 loan that is expected to default in the 12 months from the balance sheet date and is also expected to cure and subsequently default again, then all linked default events are taken into account. For Stage 2, Stage 3 the exposure at default is considered for events over the lifetime of the instruments. d. Loss given default The credit risk assessment is based on a standardised LGD assessment framework that results in a certain LGD rate. These LGD rates take into account the expected EAD in comparison to the amount expected to be recovered or realised from any collateral held. The Bank segments its retail lending products into smaller homogeneous portfolios (evaluated collective), based on key characteristics that are relevant to the estimation of future cash flows. The applied data is based on historically collected loss data and involves a wider set of transaction characteristics (i.e., product type, wider range of collateral types) as well as borrower characteristics. Further recent data and forward-looking economic scenarios are used in order to determine the IFRS 9 LGD rate for each group of financial instruments. Under IFRS 9, LGD rates are estimated for the Stage 1, Stage 2, Stage 3 IFRS 9 segment of each asset class. The inputs for these LGD rates are estimated and, where possible, calibrated through back testing against recent recoveries. These are repeated for each economic scenario as appropriate. e. Significant increase in credit risk (SICR) The Bank continuously monitors all assets subject to ECLs. In order to determine whether an instrument or a portfolio of instruments is subject to 12 month ECL or Lifetime ECL, the Bank assesses whether there has been a significant increase in credit risk since initial recognition. The Bank also applies a secondary qualitative method for triggering a significant increase in credit risk for an asset, such as moving a customer/facility to the watch list (Special vigilance). The Bank may also consider that events explained in letter a) above are a significant increase in credit risk as opposed to a default. Regardless of the change in credit grades, if contractual payments are more than 30 days past due, the credit risk is deemed to have increased significantly since initial recognition. When estimating ECLs on a collective basis for a group of similar assets, the Bank applies the same principles for assessing whether there has been a significant increase in credit risk since initial recognition. Quantitative criteria for SICR Stage 2: 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 terms. The following formula is used to determine such threshold: Threshold = Lifetime PD (at reporting date) – Lifetime PD (at origination) Collectively assessed Individually assessed Mortgages Other loans Revolving Collectively Individually Middle market Corporate and 39.57 % 39.11 % 15.73 % 39.11 % 22.69% 4.5 % Santander Group criteria There is also a relative threshold of 100% of all portfolios with the exception of the Corporate and Investment Banking Portfolio. Qualitative criteria for SICR Stage 2: The qualitative criteria is based on the existence of evidence that leads to an automatic classification of financial instruments in stage 2, mainly 30 days overdue and restructured. Thresholds of SICR are calibrated based on the average ECL of exposures that are 30 days overdue or with a level of credit risk considered to be "significant". Collectively assessed Individually assessed Mortgages Other loans Revolving (Credit cards) Collectively Individually Middle market Corporate and Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Clients that are considered to be substandard or in incompliance (pre-legal action) Clients that are considered to be substandard or in incompliance (pre-legal action) Clients that are considered to be substandard or in incompliance (pre-legal action) These thresholds are defined by the Model Committee and the Integral Risk Committee, and are evaluated annually with updates made depending on impacts and definitions of the risk models associated to each portfolio. f. Grouping financial assets measured on a collective basis The Bank calculates ECLs either on a collective or an individual basis. The evaluates on individual basis commercial loans that are greater than Ch$400 million (US$240,000), while smaller commercial loans, mortgage loans and consumer loans are grouped into homogeneous portfolios, based on a combination of internal and external characteristics. g. Modified loans When loan measured at amortised cost has been renegotiated or modified but not derecognised, the Bank must recognise the resulting gains or losses as the difference between the carrying amount of the original loans and modified contractual cash flows discounted using the EIR before modification. If the modification does not result in derecognition, then the subsequent assessment of whether there is a significant increase in credit risk is made comparing the risk at the reporting date based on the modified contractual term and the risk at initial recognition based on the original, unmodified contractual term. If the modification results in derecognition, then the modified asset is considered to be a new asset. Accordingly, the date of modification is treated as the date of initial recognition for the purposes of the impairment requirements. As of December 31, 2019 As of December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,116 30,213,415 Modified loans - 512,529 611,316 1,123,845 - 582,513 815,094 1,397,607 % - 25.68 % 37.41 % 3.44 % - 32.42 % 54.23 % 4.63 % ECL allowance 133,269 121,261 641,565 896,095 153,640 125,114 603,660 882,414 Modified loans - 36,329 242,649 278,978 - 44,099 323,802 367,901 % - 29.96 % 37.82 % 31.13 % - 35.25 % 53.64 % 41.69 % h. Analysis of risk concentration The following table shows the risk concentration by industry, and by stage before ECL allowance of loans and account receivable at amortised cost: December 31, 2019 December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Commercial MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ loans Manufacturing 1,110,484 107,356 67,974 1,285,814 992,786 92,931 54,048 1,139,765 Mining 280,297 123,005 3,739 407,041 182,342 21,821 4,585 208,748 Electricity, gas, and water 309,941 22,907 8,196 341,044 384,288 22,365 2,279 408,932 Agriculture and livestock 1,020,857 172,984 93,440 1,287,281 934,199 166,271 100,781 1,201,251 Forest 132,483 17,035 15,689 165,207 120,371 9,402 14,115 143,888 Fishing 223,980 24,879 7,695 256,554 238,348 11,104 3,569 253,021 Transport 665,570 64,115 34,192 763,877 716,493 55,011 37,802 809,306 Communications 206,660 28,122 6,168 240,950 178,215 30,407 7,222 215,844 Construction (*) 782,265 85,435 106,568 974,268 723,600 88,691 93,747 906,038 Commerce 2,655,982 110,326 30,107 2,796,415 2,950,517 189,623 199,924 3,340,064 Services 2,971,563 190,097 204,472 3,366,132 1,771,595 81,159 12,915 1,865,669 Other 3,442,541 298,806 236,395 3,977,742 4,120,052 331,470 242,097 4,693,619 Subtotal 13,802,623 1,245,067 814,635 15,862,325 13,312,806 1,100,255 773,084 15,186,145 Mortgage loans 10,275,966 457,948 529,081 11,262,995 9,258,962 447,496 444,523 10,150,981 Consumer loans 4,963,047 292,718 290,430 5,546,195 4,341,740 249,039 285,510 4,876,289 Total 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,117 30,213,415 (*) In 2019 we improved the classification of our construction loans, reassigning loans for real state rental investment companies to services. i. Macro economical forward-looking information and scenarios The annual growth forecasts for the most relevant macroeconomic variables for each of our scenarios are as follows: Average estimates 2020 - 2021 Unfavorable scenario 2 Unfavorable scenario 1 Base scenario Favorable scenario 1 Favorable scenario 2 Official interest rate 0.25 % 0.50 % 1.59 % 3.20 % 4.42 % Unemployment rate 7.31 % 6.96 % 6.50 % 6.04 % 5.70 % Housing Price growth (1.70 )% 1,04 % 4.67 % 8.30 % 11.04 % GDP growth (1.16 )% 0.67 % 3.12 % 5.56 % 7.40 % Consumer Price Index (0.26 )% 1.07 % 2.82 % 4.57 % 5.90 % The highest probability of occurrence is associated to the base scenario, while the extreme scenarios have a lower probability than the more moderate scenarios. The methodology used for the generation of the local scenarios is based on the Methodology Framework of the Corporate Research Service and is applied to the loan portfolio with the exception of loans from the Corporate and Investment Banking segment which uses global scenarios as defined by the Santander Group. The probabilities for the scenarios must total 100% and be symmetrical. Local scenario Global scenario Probability weighting Probability weighting Favorable scenario 2 10 % Favorable scenario 1 30 % Favorable scenario 1 15 % Base scenario 40 % Base scenario 50 % Unfavorable scenario 1 30 % Unfavorable scenario 1 15 % Unfavorable scenario 2 10 % The ECL allowance sensibility to future macro-economic conditions is as follows: December 31, December 21, MCh$ MCh$ Reported ECL allowance 896,095 882,414 Gross carrying amount 32,671,515 30,213,415 Reported ECL Coverage 2.74 % 2.92 % ECL amount by scenarios Favorable scenarios 2 797,501 745,089 Favorable scenarios 1 835,956 815,113 Base scenarios 884,480 879,358 Unfavorable scenarios 2 929,802 949,329 Unfavorable scenarios 2 962,437 970,563 Coverage ratio by scenarios Favorable scenarios 2 2.44 % 2.46 % Favorable scenarios 1 2.56 % 2.69 % Base scenarios 2.71 % 2.90 % Unfavorable scenarios 2 2.85 % 3.13 % Unfavorable scenarios 2 2.95 % 3.21 % j. Collateral and other credit enhancement The amount and type of collateral required depends on an assessment of the credit risk of the counterparty. Guidelines are in place covering the acceptability and valuation of each type of collateral. The main types of collateral obtained are, as follows: ● For securities lending and reverse repurchase transactions, cash or securities ● For corporate and small business lending, charges over real estate properties, inventory and trade receivables and, in special circumstances, government guarantees ● For retail lending, mortgages over residential properties The following table show the maximum exposure to credit risk by class of financial asset, associated collateral and the net exposure to credit risk: As of December 31, 2019 2018 Maximum Collateral Net Associated Maximum Collateral Net Associated MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 15,928,491 8,180,015 7,748,476 506,670 15,254,838 7,369,291 7,885,547 506,908 Mortgage loans 11,262,995 10,725,604 537,391 101,059 10,150,981 9,699,324 451,657 91,270 Consumer Loans 5,546,195 748,577 4,797,618 288,467 4,876,289 754,920 4,121,369 284,342 Total 32,737,681 19,654,196 13,083,485 896,196 30,282,108 17,823,535 12,458,537 882,520 (*) Includes Loans and account receivable at FVOCI According to the Bank's policy when an asset (real state) is repossessed are transferred to assets held for sale at their fair value less cost to sell as non-financial assets at the repossession date. Maximum exposure to credit risk Financial assets and off-balance sheet commitments For financial assets recognised in the Consolidated Statements of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution by financial asset and off-balance sheet commitments of the Bank's maximum exposure to credit risk as of December 31, 2019 and 2018, without deduction of collateral, security interests or credit improvements received: As of December 31, 2019 2018 Amount of exposure Amount of exposure Note MCh$ MCh$ Deposits in banks 5 2,693,342 1,240,578 Cash items in process of collection 5 355,062 353,757 Financial derivative contracts 8 8,148,608 3,100,635 Financial assets held for trading 6 270,204 77,041 Loans and account receivable at amortised cost / Loans and account receivable at FVOCI 9 /10 31,841,485 29,399,589 Debt instrument at fair value through other comprehensive income 11 4,010,272 2,394,323 Off-balance commitments: Letters of credit issued 140,572 223,420 Foreign letters of credit confirmed 70,192 57,038 Performance guarantees 1,929,894 1,954,205 Available credit lines 8,732,422 8,997,650 Personal guarantees 451,950 133,623 Other irrevocable credit commitments 485,991 327,297 Total 59,129,994 48,345,002 Foreign derivative contracts As of December 31, 2019, the Bank's foreign exposure -including counterparty risk in the derivative instruments' portfolio- was USD 2,309 million or 3,65% of assets. In the table below, exposure to derivative instruments is calculated by using the equivalent credit risk; which equals the replacement carrying amount plus the maximum potential value, considering the cash collateral that minimizes exposure. Below, there are additional details regarding our exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1, Below we detail as of December 31, 2019, considering fair value of derivative instruments. Country Classification Derivative Instruments (adjusted to market) USD Deposits Loans USD Financial USD Total Exposure USD China 2 0.00 0.00 7.23 0.00 7.23 Colombia 2 1.24 0.00 0.00 0.00 1.24 Italy 2 0.00 1.36 0.32 0.00 1.68 Mexico 2 9.42 0.04 0.00 0.00 9.46 Panama 2 1.50 0.00 0.00 0.00 1.50 Peru 2 2.20 0.00 0.00 0.00 2.20 Uruguay 2 0.00 0.00 0.10 0.00 0.10 Total 14.36 1.40 7.65 0.00 23.41 Our exposure to the group is as follows: Counterpart Country Classification Derivative instruments MUSD Deposits MUSD Loans MUSD Financial Investments MUSD Exposure Exposure MUSD Banco Santander España (*) Spain 1 319.0 54.8 0.4 0.0 374.20 Santander UK UK 1 24.0 2.0 0.0 0.0 26.00 Banco Santander Mexico Mexico 2 9.4 0.0 0.0 0.0 9.4 Total 352.4 56.8 0.4 0.0 409.6 (*) The total amount of this exposure to derivative instruments must be compensated daily with collateral and, therefore, the net credit exposure is USD 0. Security interests and credit improvements The maximum exposure to credit risk is reduced in some cases by security interests, credit improvements, and other actions which mitigate the Bank's exposure. Based on the foregoing, the creation of security interests are a necessary but not a sufficient condition for granting a loan; accordingly, the Bank's acceptance of risks requires the verification of other variables and parameters, such as the ability to pay or generate funds in order to mitigate the risk being taken on. The procedures used for the valuation of security interests utilize the prevailing market practices, which provide for the use of appraisals for mortgage securities, market prices for stock securities, fair value of the participating interest for investment funds, etc. All security interests received must be instrumented properly and registered on the relevant register, as well as have the approval of legal divisions of the Bank. The risk management model includes assessing the existence of adequate and sufficient guarantees that allow recovering the credit when the debtor's circumstances |
Non Current Assets Held for Sal
Non Current Assets Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Non Current Assets Held for Sale [Abstract] | |
NON CURRENT ASSETS HELD FOR SALE | NON CURRENT ASSETS HELD FOR SALE Banco Santander has decided to implement its own acquisition network, therefore the Bank is in process to disposing of the investment in the companies who provide such services. Accordingly, the Bank management is engaged in search plan for a buyer. As required by IFRS 5, the Bank has reclassified to assets held for sale under the heading Other assets in the Consolidated Statement of Financial Position as of December 31, 2019 and in the same way it has presented in the income statements the effects associated with those investments as discontinued operations for all years presented. The following investments in associates were classified to Other assets as assets held for sale: 2019 2018 2017 As of December 31, Participation Assets Income Income Income % MCh$ MCh$ MCh$ MCh$ Transbank 25.00 19,093 1,442 3,118 2,024 Nexus (*) 1.94 357 136 368 442 Redbanc 33.43 2,944 121 285 353 Total 22,394 1,699 3,771 2,819 (*) Remaining participation pending to sell at the end of the current year. See Note 40. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 40 SUBSEQUENT EVENTS Bond issuance and repurchase On January 7, 2020 Banco Santander Chile placed a bond with a 5 year term for an amounted of U.S.$750 million under the Rule 144-A of Securities Exchange Commission of United States. On January 21, 2020, the Bank placed a Subordinated bond for an amount of U.S.$200 million. On February 4, 2020, the Bank placed a Senior bond for an amount of UF2,000,000. The Bank has performed the following bond repurchases during 2020: Date UF Date Ch$ 01-02-2020 375.000 01-13-2020 50.000.000 01-14-2020 131.000 01-14-2020 9.820.000.000 01-21-2020 171.000 01-15-2020 400.000.000 01-21-2020 181.000 01-21-2020 330.000.000 01-24-2020 2.000 01-22-2020 11.430.000.000 02-17-2020 15,000 02-17-2020 2,000 02-18-2020 50,000 02-18-2020 4,000 02-20-2020 350,000 02-20-2020 115,000 02-21-2020 57,000 02-21-2020 24,000 02-24-2020 10,000 02-24-2020 250,000 Investment in associated and affiliates a. Nexus On January 22, 2020 Banco Itau-Corpbanca purchased the remaining shares held by Banco Santander in Nexus (79,577 shares), whit this, the sale process of Nexus has conclude. The investment in this company was classified as assets held for sale in June 2019. b. Santander Consumer S.A. ("Consumer") On January 7, 2020 at the Extraordinary Shareholders Meeting, the members agreed to modify the business structure of Santander Consumer Chile to a limited liability company (responsabilidad limitada), which will operate under the corporate name Santander Consumer Finance Limitada. c. Santander S.A. Sociedad Securitizadora On January, 16, 2020, the company sent a "Material Fact" (Hecho Esencial) notifying that at the Extraordinary Shareholder Meeting held on January 15, 2020, the members agreed to modify the capital increase agreement dated on November 27, 2018, without changing the number of shares (280 ordinary registered shares, with a singles series and without nominal value). New regulations On January 27, 2020, Financial Market Commission (FMC) issued two papers draft for comments related to credit-risk weighted assets and capital buffer requirements for the framework of modernization of the Chilean Banking Law (LGB), in accordance with new Basel III requirements. On February 24, 2020 was published in the "Diario official" Law 21,210 which will be effective from the first quarter of 2020. The modification includes changes to income tax law, VAT tax and Tax Code. The Bank is reviewing any potential impact on the implementation of the new tax regulations. No other subsequent events to be disclose have occurred between January 1, 2020 and the authorization date of these financial statement (March 6, 2020). |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Summary Of Significant Accounting Policies | |
Basis of preparation | a) Basis of preparation These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) (hereinafter referred to as IFRS). For purposes of these financial statements we use certain terms and conventions. References to "US$", "U.S. dollars" and "dollars" are to United States dollars, references to "EUR" are to European Economic Community Euro, references to "CNY" are to Chinese Yuan, reference to "JPY" are to Japanese Yuan, references to "CHF" are to Swiss franc, references to "Chilean pesos", "pesos" or "Ch$" are to Chilean pesos, and references to "UF" are to Unidades de Fomento. The UF is an inflation-indexed Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the official Consumer Price Index ("CPI") of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The UF is revalued in monthly cycles. Each day in the period beginning on the tenth day of the current month through the ninth day of the succeeding month, the nominal peso value of the UF is indexed up (or down in the event of deflation) in order to reflect a proportionate amount of the change in the Chilean Consumer Price Index during the prior calendar month. One UF is equaled to Ch$28,309.94 as of December 31, 2019 and Ch$27,565.79 as of December 31, 2018. In 2019, UF inflation was 2.7% compared to 2.9% in 2018. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense, respectively. The Notes to the Consolidated Financial Statements contain additional information to support the figures submitted in the Consolidated Statements of Financial Position, Consolidated Statements of Income, Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Equity and Consolidated Statements of Cash Flows for the period. |
Basis of preparation for the Consolidated Financial Statements | b) Basis of preparation for the Consolidated Financial Statements The Consolidated Financial Statements for the years ended December 31, 2019, 2018 and 2017, incorporate the financial statements of the entities over which the Bank has control (including structured entities); and includes the adjustments, reclassifications and eliminations needed to comply with the accounting and valuation criteria established by IFRS. Control is achieved when the Bank: I. has power over the investee; II. is exposed, or has rights, to variable returns from its involvement with the investee; and III. has the ability to use its power to affect its returns. The Bank reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Bank has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities over the investee unilaterally. The Bank considers all relevant facts and circumstances in assessing whether or not the Bank's voting rights in an investee are sufficient to give it power, including: ● the size of the Bank's holding of voting rights relative to the size and dispersion of holdings of the other vote holders; ● potential voting rights held by the Bank, other vote holders or other parties; ● rights arising from other agreements; and ● 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 that decisions need to be made, including voting patterns at previous shareholders' meetings. Consolidation of a subsidiary begins when the Bank obtains control over the subsidiary and ceases when the Bank loses control over the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the Consolidated Statements of Income and Comprehensive Income from the date the Bank gains control until the date when the Bank ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owners of the Bank and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Bank and to the non-controlling interests even if this results in the non-controlling interests having a deficit in certain circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to ensure their accounting policies are consistent with the Bank's accounting policies. All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between consolidated entities are eliminated in full on consolidation. Changes in the consolidated entities ownership interests in subsidiaries that do not result in a loss of control over the subsidiaries are accounted for as equity transactions. The carrying values of the Bank's equity and the non-controlling interests' equity are adjusted to reflect the changes to their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Bank. In addition, third parties' shares in the Bank's consolidated equity are presented as "Non-controlling interests" in the Consolidated Statements of Changes in Equity. Their share in the income for the year is presented as "Attributable to non-controlling interest" in the Consolidated Statements of Income. The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Percent ownership share Place of As of December 31, Incorporation 2019 2018 2017 Name of the Main and Direct Indirect Total Direct Indirect Total Direct Indirect Total Subsidiary Activity operation % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Asesorias Financieras Limitada (1) Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 Klare Corredora de Seguros S.A. (2) Insurance brokerage Santiago, Chile 50.10 - 50.10 - - - - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 - - - - - - The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 25– Non-controlling interest. (1) On December 18, 2019, Santander Agente de Valores Limitada changes its business name and the company's object, to Santander Asesorías Financieras Limitada, and offering financial advice. (2) On October 19, 2019 Klare Corredora de Seguros S.A. was created as a digital insurance brokerage, and supporting banking business company and thus subject to banking regulations. The Banks owns the 50,10% of the company's capital share. (3) On November 15, 2019, Financial Market Commission (FMC) authorized Banco Santander to acquire the 51% of the Santander Consumer Chile S.A. capital share from SK Berge (49%) and Banco Santander S.A. (2%). The sale was completed on November 27, 2019. ii. Entities controlled by the Bank through other considerations The following companies have been consolidated based on the determination that the Bank has control as previously defined above and in accordance with IFRS 10, Consolidated Financial Statements - Santander Gestión de Recaudación y Cobranza Limitada (collection services) - Bansa Santander S.A. (financing revolving inventory lines to automotive dealers) (1) - Multiplica SpA (Development card incentive programs) (2) (1) Since December 2019, Bansa Santander S.A.("Bansa") modified it activity from management of repossessed assets and leasing of properties to financing revolving inventory lines to automotive dealers. Accordingly, Consumer has started to guide relevant activities of Bansa, and therefore it has begun to consolidate. (2) On October 4, 2019 Multiplica Spa was created as a supporting banking business company. In accordance with IFRS 10 Consolidated Financial Statement, the Bank controls the entity, since the relevant activities are addressed by the Bank, and the Bank is exposed, or has rights, to variable returns from its involvement with the investee. iii. Associates An associate is an entity over which the Bank has significant influence. Significant influence, in this case, is defined as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. The following companies are considered "Associates" in which the Bank accounts for its participation using the equity method: Percentage of ownership share Place of As of December 31, Incorporation and 2019 2018 2017 Associates Main activity operation % % % Redbanc S.A. (*) ATM services Santiago, Chile - 33.43 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 15.00 15.00 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. (*) Credit card processor Santiago, Chile - 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.48 12.48 12.48 (*) The Bank is in process to sell its share participation on Redbanc S.A., Transbank S.A. and Nexus S.A., therefore it has applied IFRS 5 Non-current Assets Held for Sale and Discontinued Operations over its participations share. As of December 31, 2019, the Bank has sold 85% of its share participation in Nexus S.A. See Note N°39. In the case of Cámara Compensación de Pagos Alto Valor S.A., Banco Santander-Chile has a representative on the Board of Directors. As per the definition of associates, the Bank has concluded that it exerts significant influence over those entities. In the case of Servicios de Infraestructura de Mercado OTC S.A.The Bank participates, through its executives, actively in the administration and in the process of organization, which is why the Administration has concluded that it exerts significant influence on it. |
Non-controlling interest | c) Non-controlling interest Non-controlling interest represents the portion of net income and net assets which the Bank does not own, either directly or indirectly. It is presented as "Attributable to non-controlling interest" separately in the Consolidated Statements of Income, and separately from shareholders' equity in the Consolidated Statements of Financial Position. In the case of entities controlled by the Bank through other considerations, income and equity are presented in full as non-controlling interest, since the Bank controls them, but does not have any ownership expressed as a percentage. |
Reporting segments | d) Reporting segments Operating segments are components of an entity: i. that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses from transactions with other components of the same entity); ii. whose operating results are regularly reviewed by the entity's chief executive officer, who makes decisions about resources allocated to the segment and assess its performance; and iii. for which discrete financial information is available. Two or more segments can be combined only if aggregation is consistent with International Financial Reporting Standard 8 "Operating Segments" (IFRS 8) and the segments have similar economic characteristics and are similar in each of the following respects: i. the nature of the products and services; ii. the nature of the production processes; iii. the type or class of customers that use their products and services; iv. the methods used to distribute their products or services; and v. if applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities. The Bank reports separately on each operating segment that exceeds any of the following quantitative thresholds: i. its reported revenue, from both external customers and intersegment sales or transfers, is 10% or more of the combined internal and external revenue of all the operating segments. ii. the absolute amount of its reported profit or loss is 10% or more of the greater in absolute amount of: (i) the combined reported profit of all the operating segments that did not report a loss; (ii) the combined reported loss of all the operating segments that reported a loss. iii. its assets represent 10% or more of the combined assets of all the operating segments. Operating segments that do not meet any of the quantitative threshold may be treated as segments to be reported, in which case the information must be disclosed separately if management believes it could be useful for the users of the Consolidated Financial Statements. Information about other business activities of the operating segments not separately reported is combined and disclosed in the "Other segments" category. |
Functional and presentation currency | e) Functional and presentation currency According to International Accounting Standard (IAS) 21 "The Effects of Changes in Foreign Exchange Rates", the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency which influences its costs and revenue structure, has been defined as the Bank's functional and presentation currency. Accordingly, all balances and transactions denominated in currencies other than the Chilean Peso are treated as "foreign currency". The Bank maintains its accounting records and prepares its financial statements in Chilean pesos. |
Foreign currency transactions | f) Foreign currency transactions The Bank makes transactions in amounts denominated in foreign currencies, mainly the U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank are translated to Chilean pesos based on the market rate published by Reuters at 1:30 p.m. representative of the month end reported; the rate used was Ch$747.37 per US$1 as of December 31, 2019 (Ch$697.76 per US$1 as of December, 2018). The amounts of net foreign exchange gains and losses includes recognition of the effects that exchange rate variations have on assets and liabilities denominated in foreign currencies and the profits and losses on foreign exchange spot and forward transactions undertaken by the Bank. |
Classification and measurement of financial instrument - under IFRS 9 (first adoption) | g) Classification and measurement of financial instrument – under IFRS 9 Financial instruments must be classified and measured in accordance with IFRS 9 starting from January 1, 2019, which established guidance for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity's future cash flows. I. Classification of financial instrument 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 SPI criterion, ie, the contract is a basic lending arrangement. The Bank applies judgement 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 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. 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 realise 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 realising cash flows through the sale of the assets. The Bank makes decisions based on the assets' fair values and manages the assets to realise those fair values. ii) Classification of financial liabilities The Bank classified all financial liabilities as subsequently measured at amortised cost, except for derivatives that are liabilities, which are measured at fair value through profit or loss. ii) Reclassification 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. 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 are directly attributable to the acquisition or issue of the financial asset or financial liability. ii) Subsequent measurement- financial assets After initial recognition, the Bank shall measure a financial asset at: (a) Amortised 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 amortised cost. The effective interest method is used in the calculation of the amortised 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 amortised cost of a financial liability. (b) Fair value through other comprehensive income (FVOCI) 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 FVOCI. 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 recognised in other comprehensive income, until the assets are sold. Upon disposal, the cumulative gain and losses in OCI are recognised 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 recognised 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 recognised 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 amortised cost. III. Derecognition of financial assets and liabilities Financial assets are derecognised 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 derecognises the financial asset and recognise 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. 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 recognise 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 recognised as a financial asset and a financial liability is recognised for the obligation to pay the repurchase price. Financial liabilities are derecognised when, and only when, they are extinguished, cancelled or expired. IV. Contingent loan The Bank issues contingent liabilities (including letters of credit, foreign letters of credit and performance guarantee) and loan commitments. Contingent liabilities 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 ECL allowances are disclosed in Note 22. V. Offsetting of financial instruments Financial asset and liability balances are offset, i.e., reported in the Consolidated Statements of Financial Position at their net amount, only if there is a legally enforceable right to offset the recorded amounts and the Bank intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. As of December 31, 2019 and 2018 the Bank does not have balance offsetting of financial instruments. |
Definitions and classification of financial instruments - under IAS 39 | h) Definitions and classification of financial instruments – under IAS 39 i. Definitions A "financial instrument" is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An "equity instrument" is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A "financial derivative" is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument's price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. "Hybrid financial instruments" are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), 'held to maturity investments', 'available for sale investments (AFS)' and 'loans and accounts receivable from customers'. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognised and derecognised on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Effective interest method The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Income is recognised on an effective interest basis for loans and accounts receivables other than those financial assets classified as at fair value through profit or loss. Financial assets FVTPL – trading investment Financial assets are classified as FVTPL when the financial asset is either held for trading or they are designated as at fair value through profit or loss. A financial asset is classified as held for trading if: ● it has been acquired principally for the purpose of selling it in the near term; or ● on initial recognition it is part of a portfolio of identified financial instruments that the Bank manages together and has a recent actual pattern of short-term profit-taking; or ● it is a derivative that is not designated and effective as a hedging instrument. A financial asset other than a financial asset held for trading may be designated as FVTPL upon initial recognition if: ● such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or ● the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Bank's documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or ● it forms part of a contract containing one or more embedded derivatives, and IAS 39 permits the entire combined contract to be designated as FVTPL. Financial assets at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any dividend or interest earned on the financial asset and is included in the 'net income (expense) from financial operations' line item. Held to maturity investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity dates that the Bank has the positive intent and ability to hold to maturity. Subsequent to initial recognition, held-to-maturity investments are measured at amortised cost using the effective interest method less any impairment. Available for sale investments (AFS investments) AFS investments are non-derivatives that are either designated as AFS or are not classified as (a) loans and accounts receivable from customers, (b) held-to-maturity investments or (c) financial assets at fair value through profit or loss (trading investments). Financial instruments held by the Bank that are traded in an active market are classified as AFS and are stated at fair value at the end of each reporting period. The Bank also has investments in financial instruments that are not traded in an active market but that are also classified as AFS investments and stated at fair value at the end of each reporting period (because the Bank considers that fair value can be reliably measured). Changes in the carrying amount of AFS monetary financial assets relating to changes in foreign currency rates, interest income calculated using the effective interest method and dividends on AFS equity investments are recognised in profit or loss. Other changes in the carrying amount of available for sale investments are recognised in other comprehensive income and accumulated under the heading of "Valuation Adjustment". When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments revaluation reserve is reclassified to profit or loss. Dividends on AFS equity instruments are recognised in profit or loss when the Bank's right to receive the dividends is established. The fair value of AFS monetary financial assets denominated in a foreign currency is determined in that foreign currency and translated as the described in f) above. The foreign exchange gains and losses that are recognised in profit or loss are determined based on the amortised cost of the monetary asset. Loans and accounts receivable from customers Loans and accounts receivable from customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and accounts receivables from customers (including loans and accounts receivable from customers and interbank loans) are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised by applying the effective interest rate, except for short-term receivables when the effect of discounting is immaterial. iii. Classification of financial assets for presentation purposes For presentation purposes, the financial assets are classified by their nature into the following line items in the Consolidated Financial Statements: - Cash and deposits in banks: this line includes cash balances, checking accounts and on-demand deposits with the Central Bank of Chile and other domestic and foreign financial institutions. Amounts invested as overnight deposits are included in this item. - Cash items in process of collection: this item represents domestic transactions in the process of transfer through a central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences. - Trading investments: this item includes financial instruments held for trading and investments in mutual funds which must be adjusted to their fair value in the same way as instruments acquired for trading. - Investments under resale agreements: includes balances of financial instruments purchased under resale agreement. - Interbank loans : this item includes the balances of transactions with domestic and foreign banks, including the Central Bank of Chile, other than those reflected in certain other financial asset classifications listed above. - Loans and accounts receivables from customers: these loans are non-derivative financial assets for which fixed or determined amounts are charged, that are not listed on an active market and which the Bank does not intend to sell immediately or in the short term. When the Bank is the lessor in a lease, and it substantially transfers the risks and rewards incidental to the leased asset, the transaction is presented in loans and accounts receivable from customers while the leased asset is derecognised in the Bank´s statements of financial position. - Investment instruments: are classified into two categories: held-to-maturity investments, and available-for-sale investments. The held-to-maturity investment classification includes only those instruments for which the Bank has the ability and intent to hold to maturity. The remaining investments are treated as available for sale. iv. Classification of financial liabilities for measurement purposes The Bank classifies all financial liabilities as subsequently measured at amortised cost, except for: Financial liabilities at FVTPL As of December 31, 2018 and 2017 the Bank does not maintain financial liabilities at FVTPL. Other financial liabilities Other financial liabilities (including interbank borrowings, issued debt instruments and other payables) are initially recorded at fair value and subsequently measured at amortised cost using the effective interest method. v. Classification of financial liabilities for presentation purposes The financial liabilities are classified by their nature into the following line items in the consolidated statements of financial position: - Deposits and other on- demand liabilities: this includes all on-demand obligations except for term savings accounts, which are not considered on-demand instruments in view of their special characteristics. Obligations whose payment may be required during the period are deemed to be on-demand obligations. Operations which become callable the day after the closing date are not treated as on-demand obligations. - Cash items in process of being cleared: this represents domestic transactions in the process of transfer through a central domestic clearing house or international transactions which may be delayed in settlement due to timing differences, etc. - Obligations under repurchase agreements: this includes the balances of sales of financial instruments under securities repurchase and loan agreements. The Bank does not record in its own portfolio instruments acquired under repurchase agreements. - Time deposits and other time liabilities: this shows the balances of deposit transactions in which a term at the end of which they become callable has been stipulated. - Interbank borrowings: this includes obligations due to other domestic banks, foreign banks, or the Central Bank of Chile, other than those reflected in certain other financial liability classifications listed above. - Issued debt instruments: there are three types of instruments issued by the Bank: Obligations under letters of credit, Subordinated bonds and Senior bonds placed in the local and foreign market. - Other financial liabilities: this item includes credit obligations to persons other than domestic banks, foreign banks, or the Central Bank of Chile, for financing purposes or operations in the normal course of business. vi. Offsetting of financial instruments Financial asset and liability balances are offset, i.e., reported in the Consolidated Statements of Financial Position at their net amount, only if there is a legally enforceable right to offset the recorded amounts and the Bank intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. As of December 31, 2018 and 2017 the Bank does not have balance offsetting of financial instruments. vii. Derecognition of financial assets and liabilities The accounting treatment of transfers of financial assets is determined by the extent and the manner in which the risks and rewards associated with the transferred assets are transferred to third parties: i. If the Bank transfers substantially all the risks and rewards of ownership to third parties, as in the case of unconditional sales of financial assets, sales under repurchase agreements at fair value at the date of repurchase, sales of financial assets with a purchased call option or written put option deeply out of the money, utilization of assets in which the transferor does not retain subordinated debt nor grants any credit enhancement to the new holders, and other similar cases, the transferred financial asset is derecognised from the Consolidated Statements of Financial Position and any rights or obligations retained or created in the transfer are simultaneously recorded. ii. If the Bank retains substantially all the risks and rewards of ownership associated with the transferred financial asset, as in the case of sales of financial assets under repurchase agreements at a fixed price or at the sale price plus interest, securities lending agreements under which the borrower undertakes to return the same or similar assets, and other similar cases, the transferred financial asset is not derecognised from the Consolidated Statements of Financial Position and continues to be measured by the same criteria as those used before the transfer. However, the following items are recorded: - An associated financial liability for an amount equal to the consideration received; this liability is subsequently measured at amortised cost. - Both the income from the transferred (but not removed) financial asset as well as any expenses incurred due to the new financial liability. iii. If the Bank neither transfers nor substantially retains all the risks and rewards of ownership associated with the transferred financial asset—as in the case of sales of financial assets with a purchased call option or written put option that is not deeply in or out of the money, securitization of assets in which the transferor retains a subordinated debt or other type of credit enhancement for a portion of the transferred asset, and other similar cases—the following distinction is made: a. If the transferor does not retain control of the transferred financial asset: the asset is derecognised from the Consolidated Statements of Financial Position and any rights or obligations retained or created in the transfer are recognised. b. If the transferor retains control of the transferred financial asset: it continues to be recognised in the Consolidated Statements of Financial Position for an amount equal to its exposure to changes in value and a financial liability associated with the transferred financial asset is recorded. The net carrying amount of the transferred asset and the associated liability is the amortised cost of the rights and obligations retained, if the transferred asset is measured at amortised cost, or the fair value of the rights and obligations retained, if the transferred asset is measured at fair value. Accordingly, financial assets are only derecognised from the Consolidated Statements of Financial Position when the rights over the cash flows they generate have terminated or when all the inherent risks and rewards of ownership have been substantially transferred to third parties. Similarly, financial liabilities are only derecognised from the Consolidated Statements of Financial Position when the obligations specified in the contract are discharged or cancelled or the contract has matured. |
Derivatives and hedging activities | i) Derivatives and hedging activities The Bank has elected to continue applying the hedge accounting requirements of IAS 39 on adoption of IFRS 9. The Bank has not provided comparative information for prior periods on the date of initial application of IFRS 9 for the new disclosures introduces by IFRS 9 as a consequential amendment to IFRS 7, as permitted by IFRS 7 paragraph 44z. A "financial derivative" is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument's price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. 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. to sell to customers who request these instruments in the management of their market and credit risks; ii. to use these derivatives in the management of the risks of the Bank entities' own positions and assets and liabilities ("hedging derivatives"), and iii. to obtain profits from changes in the price of these derivatives (trading derivatives). All financial derivatives that are not held for hedging purposes are accounted for as trading derivatives. A derivative qualifies for hedge accounting if all the following conditions are met: 1. The derivative hedges one of the following three types of exposure: a. Changes in the value of assets and liabilities due to fluctuations, among others, in the interest rate and/or exchange rate to which the position or balance to be hedged is subject ("fair value hedge"); b. Changes in the estimated cash flows arising from financial assets and liabilities, and highly probable forecasted transactions ("cash flow hedge"); c. The net investment in a foreign operation ("hedge of a net investment in a foreign operation"). 2. It is effective in offsetting exposure inherent in the hedged item or position throughout the expected term of the hedge, which means that: a. At the date of arrangement the hedge is expected, under normal conditions, to be highly effective ("prospective effectiveness"). b. There is sufficient evidence that the hedge was actually effective during the life of the hedged item or position ("retrospective effectiveness"). 3. There must be adequate documentation evidencing the specific designation of the financial derivative to hedge certain balances or transactions and how this effective hedge was expected to be achieved and measured, provided that this is consistent with the Bank's management of own risks. The changes in the value of financial instruments qualifying for hedge accounting are recorded as follows: a. For fair value hedges, the gains or losses arising on both hedging instruments and the hedged items (attributable to the type of risk being hedged) are included as "Net income (expense) from financial operations" in the Consolidated Statements of Income. b. For fair value hedges of interest rate risk on a portfolio of financial instruments, gains or losses that arise in measuring hedging instruments within "Interest income and expense", and other gains or losses due to changes in fair value of the underlying hedged item (attributable to the hedged risk) are recorded in the Consolidated Statements of Income under "Net income (expense) from financial operations". c. For cash flow hedges, the change in fair value of the hedging instrument is included as "Cash flow hedge" in "Other comprehensive income". d. The differences in valuation of the hedging instrument corresponding to the ineffective portion of the cash flow hedging transactions are recorded directly in the Consolidated Statements of Income under "Net income (expense) from financial operations". If a derivative designated as a hedging instrument no longer meets the requirements described above due to expiration, ineffectiveness or for any other reason, hedge accounting treatment is discontinued. When "fair value hedging" is discontinued, the fair value adjustments to the carrying amount of the hedged item arising from the hedged risk are amortised to gain or loss from that date, where applicable. When cash flow hedges are discontinued, any cumulative gain or loss of the hedging instrument recognised under "Other comprehensive income" (from the period when the hedge was effective) remains recorded in equity until the hedged transaction occurs, at which time it is recorded in the Consolidated 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 Statements of Income. |
Fair value measurement | j) Fair value measurement In general, financial assets and liabilities are initially recognised 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 recognised at fair value plus transaction costs. Subsequently, and at the end of each reporting period, financial instruments are measured pursuant to the following criteria: i. Valuation of financial instruments Financial assets are measured according to their fair value, gross of any transaction costs that may be incurred in the course of a sale, except for loans and accounts receivable from customers. "Fair value" is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When measuring fair value an entity shall take into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability, or (b) in the absence of a principal market, the most advantageous market for the asset or liability. Even when there is no observable market to provide pricing information in connection with the sale of an asset or the transfer of a liability at the measurement date, the fair value measurement shall assume that the transaction takes place, considered from the perspective of a potential market participant who intends to maximize value associated with the asset or liability. When using valuation techniques, the Bank shall maximize the use of relevant observable inputs and minimize the use of unobservable inputs as available. If an asset or a liability measured at fair value has a bid price and an ask price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy (i.e. Level 1, 2 or 3). IFRS 13 establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). All derivatives are recorded in the Consolidated Statements of Financial Position at the fair value previously described. This value is compared to the valuation as at the trade date. If the fair value is subsequently measured positive, this is recorded as an asset. If the fair value is subsequently measured negative, this is recorded as a liability. The fair value on the trade date is deemed, in the absence of evidence to the contrary, to be the transaction price. The changes in the fair value of derivatives from the trade date are recorded in "Net income (expense) from financial operations" in the Consolidated Statements of Income. Specifically, the fair value of financial derivatives included in the portfolios of financial assets or liabilities held for trading is deemed to be their daily quoted price. If, for exceptional reasons, the quoted price cannot be determined on a given date, the fair value is determined using similar methods to those used to measure over the counter (OTC) derivatives. The fair value of OTC derivatives is the sum of the future cash flows resulting from the instrument, discounted to present value at the date of valuation ("present value" or "theoretical close") using valuation techniques commonly used by the financial markets: "net present value" (NPV) and option pricing models, among other methods. Also, within the fair value of derivatives are included Credit Valuation Adjustment (CVA) and Debit Valuation Adjustment (DVA), all with the objective that the fair value of each instrument includes the credit risk of its counterparty and Bank´s own risk. The Credit valuation adjustment (CVA) is a valuation adjustment to OTC derivatives as a result of the risk associated with the credit exposure assumed by each counterparty. The CVA is calculated taking into account potential exposure to each counterparty in each future period. The debit valuation adjustment (DVA) is a valuation adjustment similar to the CVA but, in this case, it arises as a result of the Bank's own risk assumed by its counterparties in OTC derivatives. 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, 2019 and 2018 by the Bank's internal models to determine the fair value of the financial instruments are as follows: i. In the valuation of financial instruments permitting static hedging (mainly forwards and swaps), the present value method is used. Estimated future cash flows are discounted using the interest rate curves of the related currencies. The interest rate curves are generally observable market data. ii. In the valuation of financial instruments requiring dynamic hedging (mainly structured options and other structured instruments), the Black-Scholes model is normally used. Where appropriate, observable market inputs are used to obtain factors such as the bid-offer spread, exchange rates, volatility, correlation indexes and market liquidity. iii. In the valuation of certain financial instruments exposed to interest rate risk, such as interest rate futures, caps and floors, the present value method (futures) and the Black-Scholes model (plain vanilla options) are used. The main inputs used in these models are observable market data, including the related interest rate curves, volatilities, correlations and exchange rates. The fair value of the financial instruments calculated by the aforementioned internal models considers contractual terms and observable market data, which include interest rates, credit risk, exchange rates, quoted market price of shares, volatility and prepayments, among others. The Bank's management considers that its valuation models are not significantly subjective, since these methodologies can be adjusted and evaluated, as appropriate, through the internal calculation of fair value and the subsequent comparison with the related actively traded price. |
Recognising income and expenses | k) Recognising income and expenses The most significant criteria used by the Bank to recognise its revenues and expenses are summarized as follows: i. Interest revenue, interest expense, and similar items 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 amortised cost (i.e. net of the ECL provision). ii. Commissions, fees, and similar items Fee and commission income and expenses are recognised in the Consolidated Statements of Income using criteria established in IFRS 15 "Revenue from contracts with customers". See disclosure in Note 2 relating adoption and impact of IFRS 15. Under IFRS 15, the Bank recognises revenue when (or as) satisfied a performance obligations by transferring a service (i.e. an asset) to a customer; under this definition an asset is transferred when (or as) the customer obtains control of that asset. 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 recognises 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 - 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 28. Additionally, the Bank maintains certain loyalty programs associated to its credit cards services, for which it has deferred a percentage of the consideration received in the statements of financial position to comply with its related performance obligation or has liquidated on a monthly basis as far they arise. Revenue recognition accounting and discloures for the year 2017, is under IAS 18 "Revenue recognition", fees and commission income and expense were recognised in according to their nature. The main criteria were: - Fee and commission income and expenses on financial assets and liabilities are recognised when they are earned. - Those arising from transactions or services that are performed over a period of time are recognised over the life of these transactions or services. - Those relating to services provided in a single transaction are recognised when the single transaction is performed. iii. Loan arrangement fees Fees that arise as a result of the origination of a loan, mainly application and analysis-related fees, are deferred and charged to the Consolidated Statements of Income over the term of the loan. |
Impairment of non-financial assets | l) Impairment of non-financial assets The Bank's non-financial assets, are reviewed at the reporting date to determine whether they show signs of impairment (i.e. its carrying amount exceeds its recoverable amount). If any such evidence exists, the recoverable amount of the asset is estimated, in order to determine the extent of the impairment loss. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss. In connection with other assets, impairment losses recorded in prior periods are assessed at each reporting date to determine whether the loss has decreased and should be reversed. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognised for the asset in prior years. Goodwill impairment is not reversed. |
Property, plant, and equipment | m) Property, plant, and equipment This category includes the amount of buildings, land, furniture, vehicles, computer hardware and other fixtures owned by the consolidated entities or acquired under finance leases. Assets are classified according to their use as follows: i. Property, plant and equipment for own use Property, plant and equipment for own use includes but is not limited to tangible assets received by the consolidated entities in full or partial satisfaction of financial assets representing accounts receivable from third parties which are intended to be held for continuing own use and tangible assets acquired under finance leases. These assets are presented at acquisition cost less the related accumulated depreciation and, if applicable, any impairment losses (when net carrying amount was higher than recoverable amount). Depreciation is calculated using the straight-line method over the acquisition cost of assets less their residual value, assuming that the land on which buildings and other structures stand has an indefinite life and, therefore, is not subject to depreciation. The Bank applies the following useful lives for the tangible assets that comprise its assets: ITEM Useful life Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 The consolidated entities assess at each reporting date whether there is any indication that the carrying amount of any tangible asset exceeds its recoverable amount. If this is the case, the carrying amount of the asset is reduced to its recoverable amount and future depreciation charges are adjusted in accordance with the revised carrying amount and to the new remaining useful life. The estimated useful lives of the items of property, plant and equipment held for own use are reviewed at the end of each reporting period to detect significant changes. If changes are detected, the useful lives of the assets are adjusted by correcting the depreciation charge to be recorded in the Consolidated Statements of Income in future years on the basis of the new useful lives. Maintenance expenses relating to tangible assets held for own use are recorded as an expense in the period in which they are incurred. ii. Assets leased out under operating leases The criteria used to record the acquisition cost of assets leased out under operating leases, to calculate their depreciation and their respective estimated useful lives, and to record the impairment losses thereof, are consistent with those described in relation to property, plant and equipment held for own use. |
Leasing | n) Leasing As of January 1, 2019 the Bank has started to apply IFRS 16 "Leases", using the modified retrospective method and therefore, no comparative information is required, and 2018 balances continue to be reported under IAS 17 "Leases" Policy applicable from January 1, 2019 At inception of a contract the Bank assesses whether a contract contains a lease. A contract contains a lease if the contracts conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Bank assesses whether: ● the contract involves the use of an identified asset – this may be specified explicitly or implicitly and should be physically distinct. If the supplier has a substantive substitution right, then the asset is not identified. ● the Bank has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use, and ● the Bank has the right to direct the use of the asset – this is decision-making purpose for which asset is use a. As a Lessee The Bank recognises a right-of-use asset and a lease liability at the lease commencement date in accordance within IFRS 16 "Leases". The main contracts that the Bank has are offices and branches related, which are necessary to carry out its activities. At the beginning, the right-of-use asset is equal to the lease liability and is calculated as the present value of the lease payments discounted using the incremental interest rate at the commencement date, considering the lease term of each contract. The average incremental interest rate as of December 31, 2019 is 1.7%. After initial recognition, the right-of-use is subsequently depreciated using the straight-line method in accordance with the lease term of the contract, and the lease liability is amortised in accordance with the effective interest method. Financial interest is accounted as interest expense, and depreciation as depreciation expense in each period. The term of the lease comprises non-cancelable periods established within each contract, while for lease contracts with an indefinite useful life, the Bank has determined to assign a useful life equal to the longer non-cancelable period of its lease agreements. The Bank has elected not to recognise right-of-use assets and lease liabilities for short term leases that have a lease term of 12 months or less and leases of low-value assets. The Bank recognises lease payments associated with these leases as an expense on a straight-line basis over the lease term. Any modification in the terms or lease should be treated as a new measurement. Initially, the Bank measures the right-of-use asset at cost. The rent of the lease agreements is agreed in UF and paid in pesos. According to that, monthly variation in UF should be treated as a new measurement, and therefore, readjustments should be recognized as a modification to the obligation and the right-of-use asset. The Bank has not entered into lease agreements with residual value guarantee or variable lease payments. 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 at 1 January 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 and Interpretation 4 Determining whether an Arrangement contains a Lease. b. As a lessor When the Bank acts as a lessor, it determines at the beginning if it corresponds to a financial or operating lease. To do this, it evaluates whether it has substantially transferred all the risks and benefits of the asset. In the affirmative case, it corresponds to a financial lease, otherwise it is a financial lease. The Bank recognizes the lease income on a straight-line basis over the lease term. c. Third party financing The Bank recognises the loans with third parties within "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. The finance income and expenses arising from these contracts are recorded under "Interest income" and "Interest expense" respectively, in Consolidated Statements of Income to achieve constant return rate over the lease term. Policy applicable prior to January 1, 2019 Prior to effective date of IFRS 16, the Bank applied IAS 17 Leases. 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 recognised 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 recognising an asset and liability at the same amount (the lower between the fair value of the leased property and the present value of the minimum lease payments, plus purchase option). These assets are depreciated in accordance with property, plant and equipment for own use criterion. In both cases, the finance income and expenses arising from these contracts are recorded under "Interest income" and "Interest expense" respectively, in Consolidated Statements of Income 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 Statements of Income. When the consolidated entities act as the lessees, the lease expenses, including any incentives granted by the lessor, are charged on a straight-line basis to "Administrative expenses" in the Consolidated Statements of Income. iii. Sale and leaseback transactions For sale at fair value and operating leasebacks, the profit or loss generated is recorded at the time of the sale except in the case of excess of proceeds over fair value, which is amortised over the period of use of the asset. In the case of finance leasebacks, the profit or loss generated is amortised over the lease term. |
Intangible assets | o) 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. The Bank recognizes an intangible asset, whether purchased or self-created (at cost), when the cost of the asset can be measured reliably, and it is probable that the future economic benefits that are attributable to the asset will flow to the Bank. Intangible assets are recorded initially at acquisition or production cost and are subsequently measured at cost less any accumulated amortization and any accumulated impairment losses. Internally developed computer software is recorded as an intangible asset if, among other requirements (basically the Bank's ability to use or sell it), it can be identified and its ability to generate future economic benefits can be demonstrated. Intangible assets are amortized on a straight-line basis using the estimated useful life, which has been defined by default in 36 months, and can be modified to the extent that it is demonstrated that the Bank will benefit from the use of the intangible for a different period mentioned above. Expenditure on research activities is recorded as an expense in the year in which it is incurred and cannot be subsequently capitalized. |
Cash and cash equivalents | p) Cash and cash equivalents For the preparation of the cash flow statements, the indirect method was used, starting with the Bank's consolidated pre-tax income and incorporating non-cash transactions, as well as income and expenses associated with cash flows, which are classified as operating, investment or financing activities. For the preparation of the cash flow statements, the following items are considered: i. Cash flows: Inflows and outflows of cash and cash equivalents, such as deposits with the Central Bank of Chile, deposits in domestic banks, and deposits in foreign banks. ii. Operating activities: Principal revenue-producing activities performed by banks and other activities that cannot be classified as investing or financing activities. The Bank's activity of granting loans encompasses not only the activities with its debtors but also the related activities that provide the funding to the loans granted. Since the funding for granting such loans is provided by, among other sources, senior bonds, mortgage bonds and subordinated bonds, the Bank presents the related cash flows as operating activities. iii. Investing activities: The acquisition and disposal of long-term assets and other investments not included in cash and cash equivalents. iv. Financing Activities: Activities that result in changes in the size and composition of the equity and liabilities that are not operating activities. |
Expected credit losses allowance - under IFRS 9 | q) Expected credit losses allowance – under IFRS 9 Starting from January 1, 2018, the Bank replaced the "incurred loss" model of IAS 39 with an "expected credit loss (ECL)" model established by IFRS 9. The new single impairment model applies to all financial assets measured at amortised cost and 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. The Bank accounted ECL related to financial assets measured at amortised 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 as a provision in the statements of financial position. The Bank recognises in profit or loss, as an impairment gain or loss, the amount of ECL (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognised in accordance IFRS 9, for financial assets measured at amortised cost and contingent loans. The new 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 individual or collective basis: ● Individual: when exposure is more than 89 days past due, it has been restructured, it is in judicial collection, it has been write-off, drag effect define as the entire outstanding amount on any loan which is 89 days or more past due. ● 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). The 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 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, evaluated whether financial instrument's credit risk has significantly increased since initial recognition or whether an asset is considered to be credit-impaired, and consequently classified financial instrument in the respective stage: ● Stage 1: When loans are first recognised, the Bank recognises 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 for the lifetime ECL. Stage loans also include facilities, where the credit risk has improved and the loan has been returned to stage 2. ● Stage 3: Loans considered credit impaired. The Bank records an allowance for the lifetime ECL, setting the PD at 100%. The Bank considers reasonable and supportable information that is available without undue cost or effort and that may affect the credit risk on a financial instrument, including forward looking information to determine a significant increase in credit risk since initial recognition. Forward looking information includes past events, current conditions and forecast or future economic conditions (macro-economic data). 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. Financial or economic conditions that are expected to cause a significant change in the borrower's ability to meet its debt obligations b. An actual or expected internal credit rating downgrade for the borrower or decrease in behavioral scoring c. An actual or expected significant change in the operating results of the borrower. d. Significant increases in credit risk on other financial instruments of the same borrower. e. Significant changes in the value of the collateral supporting the obligation or in the quality of third-party guarantees or credit enhancements. f. Reductions in financial support from a parent entity or other affiliate. g. Expected changes in the loan documentation including an expected breach of contract that may lead to covenant waivers or amendments, interest payment holidays, interest rate step-ups, requiring additional collateral or guarantees, or other changes to the contractual framework of the instrument. 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 derecognised 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. For measuring 12-month and lifetime ECL, cash shortfalls are identified as follow: - 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. T The Bank divides its portfolio as: i. Commercial loans, ii. Mortgage loans, and iii. Consumer loans. iv. Contingent loans The Bank evaluates 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 recognised 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: ● GDO growth ● Unemployment rates ● Central Banks interest rates ● Real estate prices iv. Modifications of financial assets When loan measured at amortised cost has been renegotiated or modified but not derecognised, the Bank recognises 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. For ECL estimation purposes on financial assets that have been modified, 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 state and inventories. 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 are transferred to assets held for sale at their fair value less cost to sell as non-financial assets at the repossession date. vi. Write-offs The gross carrying amount of a financial asset is reduced when there is no reasonable expectation of recovery. A write-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 write-off). Subsequent recoveries of amounts previously written-off are credited to the income statements, as recovery of loans previously write-off, Loan and accounts receivable write-offs are recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months |
Allowance for loan losses - under IAS 39 | r) Allowance for loan losses – under IAS 39 Prior to adoption of IFRS 9, the Bank established allowances to cover incurred losses on loans and account receivables from customers in accordance with its internal models and risk assessment as approved by the Board of Directors. The Bank performed an assessment of the risk associated with loans and accounts receivable from customers to determine their allowance for loan losses as described below: - Individual assessment – represented cases where the Bank assesses a debtor as individually significant, or when he/she could not be classified within a group of financial assets with similar credit risk characteristics, due to their size, complexity or level of exposure. - Group assessment - a group assessment was relevant for analyzing a large number of transactions with small individual balances from individuals or small companies. The Bank grouped debtors with similar credit risk characteristics giving to each group a default probability and recovery rate based on a historical analysis. The Bank models determined allowances and provisions for loan losses according to the type of portfolio or transactions. Loans and accounts receivables from customers were divided into three categories: i. Commercial loans, ii. Mortgage loans, and iii. Consumer loans. The models used to determine credit risk allowances are described as follows: I. Allowances for individual assessment An individual assessment of commercial debtors was necessary in the case of companies which, due to their size, complexity or level of exposure regarding the entity, must be known and analyzed in detail. For the purposes of establishing its provisions, the Bank assigned a risk category to each debtor, their loans and contingent loans. The risk factors considered were: industry or economic sector of the borrower, owners or managers of the borrower, their financial situation and payment capacity, and payment behavior. The Bank's risk categories were as follows: 1. Debtors may be classified in risk categories A1, A2, A3 or B (if they are current on their payment obligations and show no sign of impairment in their credit quality). B is different from the A categories by a certain history of late payments. The A and B categories were distinguished by different PNPs (as defined below). 2. Debtors classified as C1, C2, C3, C4, D1 or D2 included debtors whose loans with us have been charged off or administered by our Recovery Unit or identified as impaired by an internal risk committee. For loans classified as A1, A2, A3 and B, we assigned a specific provision level on an individual basis to each borrower and, therefore, the amount of loan loss allowance is determined on a case by case basis. Estimated Incurred Loan Loss = Loan Loss Allowance. The estimated incurred loss was obtained by multiplying all risk factors defined in the following equation: EIL= EXP x PNP x SEV EIL = Estimated Incurred Loan Loss. The estimated incurred loan loss is how much could be lost in the event a debtor does not perform the obligations under the loan. EXP = Exposure. This corresponds to the value of commercial loans. PNP = Probability of Non-Performance. This variable, expressed as a percentage, indicates the probability that a debtor will default. This percentage is associated with the internal rating that we give to each debtor, which is determined by analyzing such parameters as debt servicing capacity (including, usually, projected cash flows), the company's financial history, the solvency and capacity of shareholders and management, and projections for the economic sector in which it operates. SEV = Severity. This is the effective loss rate given default for debtors in the same segment, which is determined statistically based on the historical effective losses for each segment. Every year, models together with PNP and SEV assumptions, were tested by the Bank's Credit Risk Department, to ensure that they are appropriate at each reporting date so as to make sure any difference between the estimated incurred losses and actual losses is reduced. These tests focused on the validation of the sufficiency of the Bank's allowances and consisted of comparisons between actual write-offs to allowances established by the model, and the coverage of the total allowance to actual write-offs in the most current periods. Individual loan classification and improvements to any customer classification were also presented for approval to our Risk Committee. For loans classified in the C and D categories, loan loss allowances were based mainly on the fair value of the collateral, adjusted for an estimated cost to sell, that each of these loans have. Allowance percentage for each category was then based on the fair value of the collateral, or the expected future cash flow from the loan for each individually evaluated non-performing loans. II. Allowances for group assessments The Bank used the concept of estimation of incurred loss to quantify the allowances levels over the group-evaluated portfolios, considering the risk and the guarantees associated with each transaction. Following the Bank's definition, the Bank used group evaluation to approach transactions that have similar credit risk features, which indicated the debtor's payment capacity over the entire debt, principal and interests, pursuant to the contract's terms. In addition, this allowed us to assess a high number of transactions with low individual amounts, whether they belong to individuals or SMEs (small and medium sized companies). Therefore, debtors and loans with similar features were grouped together and each group has a risk level assigned to it. These models were meant to be used mainly to analyze loans granted to individuals (including consumer loans, credit lines, mortgage loans and commercial loans) and commercial loans to small to middle-sized entities (SMEs). Allowances were established using these models, taking into account the historical Impairment and other known circumstances at the time of evaluation. After this, a historical loss rate was assigned to each portfolio profile constituting each evaluated group. Allowances for group-evaluated loans were established based on the credit risk of the profile to which the loan belongs. The method for assigning a profile was based on statistical building method, establishing a relation through logistic regression of various variables, such as payment behavior in the Bank, payment behavior outside the Bank, various sociodemographic data, among others, and a response variable that determined a client's risk level, which in this case was 90 days of non-performance (the chosen features are relevant when calculating future cash flows per group of assets). Afterwards, common profiles were established and with differentiated default rates, applying the real historical loss the Bank had with that portfolio. The different risk categories were constructed and updated periodically based on the payment behavior of the client's profile to which they belong, as well as his or her sociodemographic characteristics. Therefore, when a customer had past due balance or has missed some payments, the outcome was that the customer will move to a different segment with a higher loss rate, therefore capturing current trends for each risk profile. Allowance quantification, once the customers have been classified, was the product of three factors: exposure (EXP), Probability of Non-Performance (PNP) and Severity (SEV), the same equation used for individual assessment mentioned above. The estimated incurred loss rates for group-evaluated loans correspond to charge-offs net of recoveries. The methodology established the period in which the estimated incurred loss for each risk profile emerges. Once the loss has been considered to have been incurred, the estimated incurred loss rates were applied to the corresponding risk profile to obtain the net charge-off level associated with this period. The loss rates applied to each risk profile are based only on the historical net charge-off data for that specific profile within one of the four groups of loans (consumer loans, credit lines, mortgage loans and commercial loans). No other statistical or other information other than net charge-offs was used to determine the loss rates. To determine the estimated incurred loss for commercial and mortgage loans collectively evaluated for impairment, we mainly analyzed the payment behavior of clients, particularly the payment behavior of clients with payments that are more than 90 days overdue, clients with other weaknesses, such as early nonperformance (i.e., payments that are past-due, though by less than 90 days), clients with modified loans and clients with renegotiated loans, as well as success in recovery against these clients. We also took into account whether the loan is supported by collateral. In connection with mortgage loans, historical net charge-offs were considered in the model to calculate loss rates for loans collectively evaluated for impairment. The risk categories were such that when a customer has a past-due balance or has missed some payments, the outcome was that the customer will move to a different risk category with a higher loss rate, therefore capturing current trends of the customer and, when aggregate, current trends in the market. Our models for loans analyzed on a group basis (consumer loans, residential mortgage loans and small-and-mid- sized commercial loans) were monitored on a monthly basis with respect to predictability and stability, using indicators that seek to capture the underlying need to update the models for current loss trends. Therefore, the periods of historical net charge-offs used in the allowance model may were more than a year old as we only updated the historical net charge-offs when our assessment of predictability and stability indicators determine it was necessary. III. Charge-offs As a general rule, charge-offs should be done when all collection efforts have been exhausted. These charge-offs consisted of derecognition from the Consolidated Statements of Financial Position of the corresponding loans transactions in its entirety, and, therefore, included portions not past-due of a loan in the case of installments loans or leasing transactions (no partial charge-offs exist). Subsequent payments obtained from charged-off loans were recognised in the Consolidated Statements of Income as a recovery of loans previously charged-off. Loan and accounts receivable charge-offs were recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months IV. Recovery of loans previously charged off and accounts receivable from customers Any payment agreement of an already charged-off loan did not give rise to income—as long as the operation was in an impaired status—and the effective payments received were accounted for as a recovery from loans previously charged-off. Recovery of previously charged-off loans and accounts receivable from customers, were recorded in the Consolidated Statements of Income as a deduction from provisions for loan losses. In accordance with our charge-off policy described in iii) above, we may subsequently recover a portion of the amount charged-off (at 100%). The allowance for loan losses on our collectively evaluated loans incorporates an expected recovery rate based on historical information. At the time we charged-off the carrying amount of any loans which have been collectively evaluated for impairment, the allowance for loan losses on collectively evaluated loans was replenished to reflect incurred losses based on statistical models developed in compliance with IAS 39 on the remaining pool of loans. The amounts required for replenishment were recorded in the financial statements as provision established. |
Provisions, contingent assets, and contingent liabilities | s) Provisions, contingent assets, and contingent liabilities Provisions are liabilities of uncertain timing or amount. Provisions are recognised in the Consolidated Statements of Financial Position when the Bank: i. has a present obligation (legal or constructive) as a result of past events, and ii. it is probable that an outflow of resources will be required to settle these obligations and the amount of these resources can be reliably measured. Contingent assets or contingent liabilities are any potential rights or obligations arising from past events whose existence will be confirmed only by the occurrence or non-occurrence if one or more uncertain future events that are not wholly within control of the Bank. The Consolidated Statements of Financial Position and annual accounts reflect all significant provisions for which it is estimated that it is probable an outflow of resources will be required to meet the obligation where the probability of having to meet the obligation is more likely than not. Provisions are quantified using the best available information on the consequences of the event giving rise to them and are reviewed and adjusted at the end of each year. Provisions must specify the liabilities for which they were originally recognised. Partial or total reversals are recognised when such liabilities cease to exist or are reduced. Provisions are classified according to the obligation covered as follows: - Provision for employee salaries and expenses - Provision for mandatory dividends - Provision for contingent credit risks - Provisions for contingencies |
Deferred income taxes and other deferred taxes | t) Deferred income taxes and other deferred taxes The Bank records, when appropriate, deferred tax assets and liabilities for the estimated future tax effects attributable to differences between the carrying amount of assets and liabilities and their tax bases. The measurement of deferred tax assets and liabilities is based on the tax rate, in accordance with the applicable tax laws, using the tax rate that applies to the period when the deferred asset and liability will be settled. The future effects of changes in tax legislation or tax rates are recorded in deferred taxes beginning on the date on which the law is enacted or substantially enacted. |
Use of estimates | u) Use of estimates The preparation of the financial statements requires the Bank's management to make estimates and assumptions that affect the application of the accounting policies and the reported balances of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. In certain cases, International Financial Reporting Standards (IFRS) require that assets or liabilities be recorded or disclosed at their fair values. The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When available, quoted market prices in active markets have been used as the basis for measurement. When quoted market prices in active markets are not available, the Bank has estimated such values based on the best information available, including the use of modeling and other valuation techniques. The Bank has established allowances to cover incurred losses to estimate allowances. These allowances must be regularly reviewed taking into consideration factors such as changes in the nature and volume of the loan portfolio, trends in forecasted portfolio quality, credit quality and economic conditions that may adversely affect the borrowers' ability to pay. Increases in the allowances for loan losses are reflected as "Provision for loan losses" in the Consolidated Statements of Income. Loans are charged-off when the Bank's management determines that a loan or a portion thereof is impaired. Charge-offs are recorded as a reduction of the allowance for loan losses. The relevant estimates and assumptions made to calculate provisions are regularly reviewed by the Bank's Management to quantify certain assets, liabilities, revenues, expenses, and commitments. These estimates, made on the basis of the best available information, mainly refer to: - Allowances for loan losses - Impairment losses of certain assets - The useful lives of tangible and intangible assets - The fair value of assets and liabilities - Commitments and contingencies - Current and deferred taxes |
Non-current assets held for sale (in "Other Assets") | v) Non-current assets held for sale (in "Other Assets") The Bank classified its investment held on Redbanc, Transbank and Nexus, previously classified as associated, as assets held for sale in Other Assets, in accordance with IFRS 5 "Non-current Assets held for sale and discontinued operations", since its carrying amount will be recovered principally through a sale transaction rather through continuing use. To apply the mentioned treatment, the Bank has ensured to comply with related requirement established in IFRS 5, which include: · the assets are available for immediate sale in its present conditions and its sale must be highly probable. · for the sale to be highly probable, the appropriate level of management is committed to a plan to sell the asset, and an active program to locate a buyer and complete the plan. · In addition, the sale should be expected to qualify for recognition as a completed sale within one year from the date of classification. The Bank has measured their investment on the mentioned associated investment at their carrying amount since it represents the lower between carrying amount and fair value less cost to sell. Additionally, the Bank will recognise an impairment loss for any initial or subsequent write-down of the asset to fair value less costs to sell, to the extent that it has not been recognized. As of December 31, 2019, the Bank still maintains its investment on Transbank and Redbanc (classified as held for sale), while a main portion of Nexus was sold on October 2019, and we expect to complete the sale on January 2020. Assets received or awarded in lieu of payment Assets received or awarded in lieu of payment of loans and accounts receivable from clients are recognised at their fair value (as determined by an independent appraisal). A price is agreed upon by the parties through negotiation or, when the parties do not reach an agreement, at the amount at which the Bank is awarded those assets at a judicial auction. In the both cases, an independent appraisal is performed. The excess of the outstanding loan balance over the fair value is charged to net income for the period, under "Provision for loan losses". Any excess of the fair value over the outstanding loan balance, less costs to sell of the collateral, is returned to the client. These assets are subsequently adjusted to their net realizable value less cost to sale (assuming a forced sale). The difference between the carrying value of the asset and the estimated fair value less costs to sell is charged to net income for the period, under "Other operating expenses". The result obtained in the sale of the asset is subsequently recorded under "Other operating income". Independent appraisals are obtained at least every 18 months and fair values are adjusted accordingly. No adjustments have been made between appraisals with respect to the period covered by these financial statements considering the stability of the real estate market in Chile during past years and expected stability of the real estate market in the coming years. At least once a year, the Bank performs the necessary analysis to update the "cost to sale" of assets received or awarded in lieu of payments. According to the Bank's survey, as of December 31, 2019 the average cost to sale was estimated at 3.1% of the appraisal value (2.2% as of December 31, 2018). |
Earnings per share | w) Earnings per share Basic earnings per share are determined by dividing the net income attributable to the shareholders 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, 2019 and 2018 the Bank did not have any instruments that generated dilution. |
Temporary acquisition (assignment) of assets and liabilities | x) Temporary acquisition (assignment) of assets and liabilities Purchases or sales of financial assets under non-optional repurchase agreements at a fixed price are recorded in the Consolidated Statements of Financial Position based on the nature of the debtor (creditor) under "Deposits in the Central Bank of Chile," "Deposits in financial institutions" or "Loans and accounts receivable from customers" ("Central Bank of Chile deposits," "Deposits from financial institutions" or "Customer deposits"), in Note 7. Differences between the purchase and sale prices are recorded as financial interest over the term of the contract. |
Provision for mandatory dividends | y) Provision for mandatory dividends As of December 31, 2019 and 2018 the Bank recorded a provision for mandatory dividends. This provision is made pursuant to Article 79 of the Corporations Act, which is in accordance with the Bank's internal policy, pursuant to which at least 30% of net income for the period is distributed, except in the case of a contrary resolution adopted at the respective shareholders' meeting by unanimous vote of the outstanding shares. This provision is recorded, as a deducting item, under the "Retained earnings – provision for mandatory dividends" line of the Consolidated Statements of Changes in Equity with offset to Provisions. i. Post-employment benefits – Defined Benefit Plan: According to current collective labor agreements and other agreements, the Bank has an additional benefit available to its principal executives, consisting of a pension plan whose purpose is to endow them with funds for a better supplementary pension upon their retirement. Features of the Plan: The main features of the Post-Employment Benefits Plan promoted by the Banco Santander-Chile are: a. Aimed at the Bank's management. b. The general requirement to apply for this benefit is that the employee must be carrying out his/her duties when turning 60 years old. c. The Bank will create a pension fund, with life insurance, for each beneficiary in the plan. Periodic contributions into this fund are made by the manager and matched by the Bank. d. The Bank will be responsible for granting the benefits directly. The Bank uses the method of projected unit credit, to determine the present value of the defined benefit obligation and the current service cost. Components of defined benefit cost include: - current service cost and any past service cost, which are recognised in profit or loss for the period; - net interest on the liability (asset) for net defined benefit, which is recognised in profit or loss for the period; - new liability (asset) remeasurements for net defined benefit include: (a) actuarial gains and losses; (b) the difference between the actual return on plan assets and the interest on plan assets included in the net interest component and; (c) changes in the effect of the asset ceiling. The liability (asset) for net defined benefit is the deficit or surplus, determined as the difference between the present value of the defined benefit obligation less the fair value of plan assets. Plan assets comprise the pension fund taken out by the Group with a third party that is not a related party. These assets are held by an entity legally separated from the Bank and exist solely to pay benefits to employees. The Bank recognises the present service cost and the net interest of the Personnel salaries and expenses on the Consolidated Statements of Income. The post-employment benefits liability, recognised in the Consolidated Statements of Financial Position represents the deficit or surplus in the defined benefit plans of the Bank. Any surplus resulting from the calculation is limited to the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions. When employees leave the plan before meeting the requirements to be eligible for the benefit, contributions made by the Bank are reduced. ii. Cash-settled share-based compensation The Bank allocates cash-settled share-based compensation to executives of the Bank and its Subsidiaries in accordance with IFRS 2. The Bank measures the services received and the obligation incurred at fair value. Until the obligation is settled, the Bank determines the fair value at the end of each reporting period, as well as at the date of settlement, recognising any change in fair value in the income statements of the period. |
Application of new and revised International Financial Reporting Standards | z) Application of new and revised International Financial Reporting Standards 1. New and revised standards effective in current year The following new and revised IFRS have been adopted in these financial statements: IFRS 16 Leases For lease commitments that are in scope of the standard, the Bank recognised, as of January 1, 2019, the right of use assets of approximately MM$154,284 and lease liabilities for the same amount, since it has been elected to apply the simplified transition approach in which no comparative information is restated, instead, the cumulative effect of the application of the standard (if any) is recognised as an adjustment to the initial balance of retained earnings at the date of the initial application. IFRIC 23 Uncertainty over Income Tax Treatments – The implementation of this standard did not have a material impact on the Bank's financial statement. Amendments to IAS 28 long-term interest in Associates and Joint Ventures - The implementation of this standard did not have a material impact on the Bank's financial statement. Annual Improvements to IFRS Standards 2015–2017 Cycle - IFRS 3 Business Combination and IFRS 11 Joint Arrangements – The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interest in that business. IAS 12 Income taxes – The amendments clarify that all income tax consequences of dividends should be recognised in profit or loss, regardless of how the tax arises. IAS 23 Borrowing cost – The amendments clarify that if any specific borrowing remain outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the funds that an entity borrows generally when calculating the capitalization rate on general borrowings. The implementation of this standard did not have a material impact on the Bank's financial statement. Amendments to IAS 19 Plan amendment, curtailment or settlement ● If a plan amendment, curtailment or settlement occurs, it is now mandatory that the current service cost and the net interest for the period after the remeasurement are determined using the assumptions used for the remeasurement. ● In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regarding the asset ceiling. The amendments are effective for periods beginning on or after January 1, 2019, early application is permitted but must be disclosed. The implementation of this standard did not have a material impact on the Bank's financial statement. 2. New and revised IFRS issued but not effective As of the closing date of these financial statements, new International Financial Reporting Standards had been published as well as interpretations of them, which were not mandatory as of December 31, 2019. Although in some cases the application is permitted by the IASB, the Bank has not made its application on that date. Sale or Contributions of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28) - ● requires full recognition in the investor's financial statements of gains and losses arising on the sale or contribution of assets that constitute a business (as defined in IFRS 3 Business Combinations); ● requires the partial recognition of gains and losses where the assets do not constitute a business, i.e. a gain or loss is recognised only to the extent of the unrelated investors' interests in that associate or joint venture. On December 17, 2015 the IASB has published final amendments to "Sale or Contribution of Assets between an Investor and its Associate or Joint Venture". The amendments defer the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded. The Bank's management has considered that these amendments will not have a material impact on the consolidated financial statements of the Bank. IFRS 17 Insurance Contracts The standard is effective for periods beginning on or after January 1, 2022, early application is permitted if both IFRS 15 Revenue from contracts with customers and IFRS 9 Financial Instruments have also been applied. The Bank's management is evaluating the potential impact of this standards on the consolidated financial statements of the Bank. Conceptual Framework for Financial Reporting 2018 This framework in not a standard and does not override any specific IFRS. The implementation of this standard does not have a material impact on the Bank's financial statement. Amendments to IFRS 3 – Definition of a Business – ● clarify that to be considered a business, an acquired set of activities and assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs; ● narrow the definitions of a business and of outputs by focusing on goods and services provided to customers and by removing the reference to an ability to reduce costs; ● add guidance and illustrative examples to help entities assess whether a substantive process has been acquired; ● remove the assessment of whether market participants are capable of replacing any missing inputs or processes and continuing to produce outputs; and ● add an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The amendments are effective for business combination for which the acquisition date is on or after the periods beginning of the first annual reporting period beginning on or after January 1, 2020, and to asset acquisitions that occur on or after the beginning of that report. Early application is permitted. The implementation of this standard does not have a material impact on the Bank's financial statement. Amendments to IAS 1 and IAS 8- Definition of material The new definition of material and the accompanying explanatory paragraphs are contained 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 standard is effective for periods beginning on or after January 1, 2020, early application is permitted. The implementation of this standard does not have a material impact on the Bank's financial statement. Amendments to IFRS 9, IAS 39 and IFRS 7 – Interest Rate benchmark Reform The amendments are effective for period beginning on or after January 1, 2020 and must be applied retrospectively. Early application is permitted. The Bank's management has considered that these amendments will not have a material impact on the consolidated financial statements of the Bank. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Summary Of Significant Accounting Policies | |
Schedule of subsidiaries | The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Percent ownership share Place of As of December 31, Incorporation 2019 2018 2017 Name of the Main and Direct Indirect Total Direct Indirect Total Direct Indirect Total Subsidiary Activity operation % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Asesorias Financieras Limitada (1) Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 Klare Corredora de Seguros S.A. (2) Insurance brokerage Santiago, Chile 50.10 - 50.10 - - - - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 - - - - - - The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 25– Non-controlling interest. (1) On December 18, 2019, Santander Agente de Valores Limitada changes its business name and the company's object, to Santander Asesorías Financieras Limitada, and offering financial advice. (2) On October 19, 2019 Klare Corredora de Seguros S.A. was created as a digital insurance brokerage, and supporting banking business company and thus subject to banking regulations. The Banks owns the 50,10% of the company's capital share. (3) On November 15, 2019, Financial Market Commission (FMC) authorized Banco Santander to acquire the 51% of the Santander Consumer Chile S.A. capital share from SK Berge (49%) and Banco Santander S.A. (2%). The sale was completed on November 27, 2019. |
Schedule of associates | The following companies are considered "Associates" in which the Bank accounts for its participation using the equity method: Percentage of ownership share Place of As of December 31, Incorporation and 2019 2018 2017 Associates Main activity operation % % % Redbanc S.A. (*) ATM services Santiago, Chile - 33.43 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 15.00 15.00 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. (*) Credit card processor Santiago, Chile - 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.48 12.48 12.48 (*) The Bank is in process to sell its share participation on Redbanc S.A., Transbank S.A. and Nexus S.A., therefore it has applied IFRS 5 Non-current Assets Held for Sale and Discontinued Operations over its participations share. As of December 31, 2019, the Bank has sold 85% of its share participation in Nexus S.A. See Note N°39. |
Schedule of useful lives for the tangible assets | The Bank applies the following useful lives for the tangible assets that comprise its assets: ITEM Useful life Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 |
Schedule of loan and accounts receivable charge-offs | Loan and accounts receivable write-offs are recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months |
Accounting Changes (Tables)
Accounting Changes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Changes | |
Schedule of impacts and reclassifications | Below is the detail of impacts as of January 1, 2019: Balance as Balance as of December 31, 2018 Additions of January 01, 2019 MCh$ MCh$ MCh$ Right of use assets - 154,284 154,284 Subtotals Assets - 154,284 154,284 Lease liability - 154,284 154,284 Subtotals Liabilities - 154,284 154,284 |
Schedule of financial position and retained earning | The following disclosure provides the impact of adopting IFRS 9 on the statements of financial position and retained earnings including the effect of replacing IAS 39's incurred credit loss provision with IFRS 9's ECLs. IAS 39 carrying amount IFRS 9 carrying amount Category Amount Reclassification Remeasurement Amount Category Ref MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ AMORTISED COST Cash and deposit in banks Opening balance under IAS 39 and closing under IFRS 9 AC 1,452,922 - - 1,452,922 AC Interbank loans, net Opening balance under IAS 39 AC 162,213 - - - - Remeasurement: ECL Allowance A - - (162,213 ) - - - Closing balance under IFRS9 - - - - - - Loans and accounts receivable from customers, net Opening balance under IAS 39 AC 26,772,544 - - - - Addition: from interbank loans A - - 162,213 - - - Subtraction to FVOCI (net of allowance) B - - (107,846 ) - - - Remeasurement: ECL Allowance - - - (97,322 ) - Closing balance under IFRS 9 - - - - 26,729,589 AC Total financial assets measured at amortised cost 28,387,679 (107,846 ) (97,322 ) 28,182,511 - FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (FVOCI) Available for sale investment (debt securities) Opening balance under IAS 39 FVOCI 2,574,546 - - - - Remeasurement: ECL Allowance - - - - - - Closing balance under IFRS 9 - - - - 2,574,546 FVOCI Loans and accounts receivable from customers, net Opening balance under IAS 39 AC - - - - - Addition: from amortised cost (net of allowance) B - - 107,846 - - - Remeasurement: from cost to FV B - - - (236 ) - - Remeasurement: ECL Allowance B - - - 291 - - Closing balance under IFRS 9 - - 107,846 55 107,901 FVOCI Investment in associate and other companies – Bladex (equity instruments) Opening balance under IAS 39 Cost 136 - - - - Remeasurement: from cost to FV C - - - 306 - - Closing balance under IFRS 9 - - - 306 442 FVOCI Investment in associate and other companies- Stock exchange (equity instruments) Opening balance under IAS 39 FV 287 - - - - Remeasurement: from cost to FV - - - - - - Closing balance under IFRS 9 C - - - - 287 FVOCI Total financial assets measured at FVOCI - 2,574,969 107,846 361 2,683,176 - Ref IAS 39 carrying amount IFRS 9 carrying amount Category Amount Reclassification Remeasurement Amount Category MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ FAIR VALUE THROUGH PROFIT OR LOSS (FVPL) Trading investment Opening balance under IAS 39 and closing under IFRS 9 FVPL 485,736 - - 485,736 FVPL Derivative contracts (hedging + trading) - - - - Opening balance under IAS 39 and closing under IFRS 9 FVPL 2,238,647 - - 2,238,647 FVPL Total financial assets measured at FVTPL 2,724,383 - - 2,274,383 - |
Schedule of impairment allowance | The following table reconciles the December 31, 2017 period's closing impairment allowance measured in accordance with the IAS 39 incurred loss model to the new impairment model: Loans loss allowance under IAS 39 Reclassification Remeasurement Loans loss allowance under IFRS 9 MCh$ MCh$ MCh$ MCh$ Loans and receivable (IAS 39)/ Financial assets at amortised cost (IFRS 9) Interbank loans 472 (472 ) - - Loans and account receivable from customers 790,685 84 97,322 888,091 Total loans and account receivable at amortised cost 791,157 (388 ) 97,322 888,091 Available for sale investment (IAS39)/Financial assets at FVOCI (IFRS 9) Loans and account receivable from customer – at FVOCI - 388 (291 ) 97 Total financial assets at FVOCI - 388 (291 ) 97 Other credit- related commitments Contingent liabilities 8,404 - (3,767 ) 4,637 Loan commitments - - 19,124 19,124 Total contingents 8,404 - 15,357 23,761 Total provision for loan losses 799,561 - 112,388 911,949 |
Schedule of composation of loan portfolio | The composition of the loan portfolio as of January 1, 2018 is as follows: Assets before allowances ECL allowance As of January 1, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 162,685 - - 162,685 13 - - 13 162,672 Commercial loans 8,743,179 595,436 543,807 9,882,422 56,546 36,541 246,870 339,957 9,542,465 Foreign trade loans 1,464,059 56,110 54,344 1,574,513 4,883 849 33,480 39,212 1,535,301 Checking accounts debtors 173,738 8,005 13,953 195,696 2,302 411 9,385 12,098 183,598 Factoring transactions 441,014 4,035 4,841 449,890 837 91 3,366 4,294 445,596 Student loans 70,984 7,402 9,904 88,290 3,644 2,329 6,092 12,065 76,225 Leasing transactions 1,235,103 161,882 60,019 1,457,004 8,946 9,553 27,835 46,334 1,410,670 Other loans and account receivable 110,307 5,663 36,623 152,593 2,640 1,549 24,551 28,740 123,853 Subtotal 12,401,069 838,533 723,491 13,963,093 79,811 51,323 351,579 482,713 13,480,380 Mortgage loans Loans with mortgage finance bonds 21,529 1,230 1,301 24,060 25 51 172 248 23,812 Endorsable mortgage mutual loans 107,900 2,973 4,205 115,078 100 143 628 871 114,207 Other mortgage mutual loans 8,061,800 465,146 430,811 8,957,757 14,477 20,033 72,390 106,900 8,850,857 Subtotal 8,191,229 469,349 436,317 9,096,895 14,602 20,227 73,190 108,019 8,988,876 Consumer loans Installment consumer loans 2,378,614 234,044 298,084 2,910,742 51,172 46,866 157,811 255,849 2,654,893 Credit card balances 1,324,742 20,916 19,322 1,364,980 20,443 7,633 11,982 40,058 1,324,922 Leasing transactions 4,627 47 41 4,715 1,013 23 74 1,110 3,605 Other consumer loans 270,410 2,573 4,272 277,255 84 35 223 342 276,913 Subtotal 3,978,393 257,580 321,719 4,557,692 72,712 54,557 170,090 297,359 4,260,333 Total 24,570,691 1,565,462 1,481,527 27,617,680 167,125 126,107 594,859 888,091 26,729,589 |
Significant Events (Tables)
Significant Events (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Significant Events | |
Schedule of senior bonds | During the year ended December 31, 2019 the Bank has issued senior bonds int the amount of AUD 185,000,000, EUR 65,000,000 and CHF 250,000,000, debt issuance information is included in Note 19. Series Currency Term (annual) Issuance rate (annual) Issuance date Amount Maturity date EUR EUR 7 1,09% 02-01-2019 40,000,000 07-02-2026 EUR EUR 15 1,25% 11-26-2019 25,000,000 01-03-2022 Total EUR 65,000,000 AUD AUD 15 3,66% 05-13-2019 22,000,000 20-05-2034 AUD AUD 5 1,13% 07-11-2019 20,000,000 11-07-2024 AUD AUD 5 1,13% 07-17-2019 28,000,000 17-07-2024 AUD AUD 5 1,13% 07-17-2019 15,000,000 17-07-2024 AUD AUD 20 3,05% 08-30-2019 75,000,000 28-02-2039 AUD AUD 15 3,16% 11-12-2019 12,000,000 20-11-2034 AUD AUD 15 2,91% 11-21-2019 13,000,000 27-11-2034 Total AUD 185,000,000 CHF CHF 5 0,38% 03-12-2019 150,000,000 27-09-2024 CHF CHF 10 0,14% 08-29-2019 100,000,000 29-08-2029 Total CHF 250,000,000 |
Schedule of repurchase of bonds | The Bank has conducted the following repurchase of bonds as of December 31, 2019: Date Series Currency Amount 02-12-2019 Senior CLP 10,000,000,000 02-14-2019 Senior CLP 30,000,000,000 02-19-2019 Senior CLP 4,200,000,000 02-22-2019 Senior CLP 14,240,000,000 02-22-2019 Senior CLP 30,000,000 02-22-2019 Senior CLP 10,000,000 03-01-2019 Senior CLP 11,800,000,000 03-04-2019 Senior CLP 40,080,000,000 03-05-2019 Senior CLP 20,000,000,000 03-15-2019 Senior UF 156,000 03-19-2019 Senior UF 418,000 03-20-2019 Senior CLP 6,710,000,000 03-20-2019 Senior UF 154,000 03-21-2019 Senior UF 100,000 03-25-2019 Senior UF 100,000 03-26-2019 Senior UF 90,000 04-08-2019 Senior CLP 3,950,000,000 04-10-2019 Senior UF 409,000 04-16-2019 Senior UF 55,000 04-17-2019 Senior CLP 130,000,000 04-18-2019 Senior CLP 330,000,000 05-16-2019 Senior CLP 14,880,000,000 05-16-2019 Senior UF 9,000 06-13-2019 Senior UF 1,000 10-01-2019 Senior CLP 10,960,000,000 10-02-2019 Senior CLP 100,000,000 10-04-2019 Senior CLP 60,000,000 11-05-2019 Senior CLP 15,220,000,000 11-07-2019 Senior CLP 3,620,000,000 11-13-2019 Senior CLP 5,320,000,000 11-14-2019 Senior UF 2,977,000 11-28-2019 Senior UF 340,000 12-02-2019 Senior UF 105,000 |
Reporting Segments (Tables)
Reporting Segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Reporting Segments | |
Schedule of reporting segment | Below are the tables showing the Bank's results by reporting segment for the years ended December 31, 2019, 2018 and 2017 in addition to the corresponding balances of loans and accounts receivable from customers: For the year ended December 31, 2019 Loans and accounts receivable at amortised cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected credit losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 22,926,377 960,361 230,627 28,426 (279,969 ) (575,511 ) 356,665 Middle-market 8,093,496 298,587 38,712 13,535 (38,746 ) (97,054 ) 220,320 Global Investment Banking 1,603,633 98,154 29,103 94,761 (224 ) (65,343 ) 156,083 Other 48,009 59,862 (11,356 ) 64,970 (4,819 ) (11,953 ) 99,502 Total 32,671,515 1,416,964 287,086 201,692 (323,311 ) (749,861 ) 832,570 Other operating income 13,001 Other operating expenses and impairment (52,029 ) Income from investments in associates and other companies 1,146 Income tax expense (175,074 ) Result of continuing operations 619,614 Result of discontinued operations 1,699 Net income for the year 621,313 (1) Corresponds to loans and accounts receivable at amortised cost under IFRS 9, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. For the year ended December 31, 2018 Loans and accounts receivable at amortised cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected credit losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 20,786,637 949,764 220,532 19,694 (287,739 ) (553,157 ) 349,094 Middle-market 7,690,380 272,912 36,746 16,848 (26,314 ) (92,377 ) 207,815 Global Investment Banking 1,613,088 96,722 35,064 57,340 2,339 (64,913 ) 126,552 Other 123,310 94,970 (1,457 ) 11,200 (5,694 ) (11,486 ) 87,533 Total 30,213,415 1,414,368 290,885 105,082 (317,408 ) (721,933 ) 770,994 Other operating income 23,129 Other operating expenses and impairment (32,381 ) Income from investments in associates and other companies 1,325 Income tax expense (167,144 ) Result of continuing operations 595,923 Result of discontinued operations 3,770 Net income for the year 599,693 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. For the year ended December 31, 2017 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment's MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 19,233,169 970,332 206,449 20,595 (293,956 ) (534,970 ) 368,450 Middle-market 6,775,734 264,663 36,280 13,751 (19,235 ) (91,882 ) 203,577 Global Investment Banking 1,633,796 100,808 27,626 50,714 6,440 (62,685 ) 122,903 Other 83,215 (9,112 ) 8,708 44,692 4,496 (15,356 ) 33,428 Total 27,725,914 1,326,691 279,063 129,752 (302,255 ) (704,893 ) 728,358 Other operating income 62,016 Other operating expenses and impairment (74,057 ) Income from investments in associates and other companies 1,144 Income tax expense (145,031 ) Result of continuing operations 572,430 Result of discontinued operations 2,819 Net income for the year 575,249 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | The detail of the balances included under cash and cash equivalents is as follows: As of December 31, 2019 2018 MCh$ MCh$ Cash and deposits in banks Cash 861,178 824,863 Deposits at the Central Bank of Chile 1,731,079 953,016 Deposits in local banks 948 664 Deposits in banks abroad 961,315 286,898 Subtotals – Cash and deposits in banks 3,554,520 2,065,411 Net cash items in process of collection 156,814 190,714 Cash and cash equivalents 3,711,334 2,256,155 |
Schedule of cash in process of collection and in process | Cash items in process of collection and in process of being cleared represent domestic transactions which have not been processed through the central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences. These transactions were as follows: As of December 31, 2019 2018 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 217,394 210,546 Funds receivable 137,668 143,211 Subtotal 355,062 353,757 Liabilities Funds payable 198,248 163,043 Subtotal 198,248 163,043 Cash in process of collection, net 156,814 190,714 |
Financial Assets Held for Tra_2
Financial Assets Held for Trading (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Assets Held For Trading Trading Investments | |
Schedule of instruments deemed as financial trading investments | The detail of instruments deemed as financial trading investments is as follows: As of December 31, 2019 2018 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 1,952 22,947 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 268,252 48,211 Subtotal 270,204 71,158 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds - - Other Chilean securities - - Subtotal - - Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - 5,883 Subtotal - 5,883 Investments in mutual funds Funds managed by related entities - - Funds managed by others - - Subtotal - - Total 270,204 77,041 |
Investments under Resale Agre_2
Investments under Resale Agreements and Obligations under Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments Under Resale Agreements And Obligations Under Repurchase Agreements | |
Schedule of selling financial instruments | The Bank raises funds by selling financial instruments and committing itself to buy them back at future dates, plus interest at a predetermined rate. As of December 31, 2019 and 2018, obligations related to instruments sold under repurchase agreements are as follows: As of December 31, 2019 2018 From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - 48,307 - - 48,307 Chilean Central Bank Notes - - - - - - - - Other securities from the Government and the Chilean Central Bank 379,891 33 - 379,924 110 - - 110 Subtotal 379,891 33 - 379,924 48,417 - - 48,417 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 127 4 - 131 128 - - 128 Subtotal 127 4 - 131 128 - - 128 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - - - Subtotal - - - - - - - - Total 380,018 37 - 380,055 48,545 - - 48,545 |
Schedule of portfolio of collateral associated with repurchase agreements at fair value | Below is the detail by portfolio of collateral associated with repurchase agreements as of December 31, 2019 and 2018, valued at fair value: As of December 31, 2019 2018 Available for sale portfolio Trading portfolio Total Available for sale portfolio Trading portfolio Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - 49,040 - 49,040 Chilean Central Bank Notes - - - - - - Other securities from the Government and the Chilean Central Bank 379,924 - 379,924 109 - 109 Subtotal 379,924 - 379,924 49,149 - 49,149 Other Chilean securities: Time deposits in Chilean financial institutions 131 - 131 132 - 132 Subtotal 131 - 131 132 - 132 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - Subtotal - - - - - - Total 380,055 - 380,055 49,281 - 49,281 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedge Accounting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Financial Instruments And Hedge Accounting | |
Schedule of derivative instruments portfolio | As of December 31, 2019 and 2018 the Bank holds the following portfolio of derivative instruments: As of December 31, 2019 Notional amount Fair value Up to 3 Months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 381,638 317,610 1,847,138 2,546,386 39,460 34,264 Cross currency swaps 407,008 863,984 13,357,058 14,628,050 226,870 295,281 Subtotal 788,646 1,181,594 15,204,196 17,174,436 266,330 329,545 Cash flow hedge derivatives Currency forwards 99,105 1,018,656 768,256 1,886,017 4,131 3,505 Cross currency swaps 2,266,907 1,938,222 10,848,233 15,053,362 106,413 43,183 Subtotal 2,366,012 2,956,878 11,616,489 16,939,379 110,544 46,688 Trading derivatives Currency forwards 28,472,586 18,508,702 7,679,464 54,660,752 1,023,683 1,137,496 Interest rate swaps 16,678,487 40,892,909 89,109,046 146,680,442 2,465,235 2,270,686 Cross currency swaps 7,726,724 20,457,463 113,206,678 141,390,865 4,277,450 3,605,516 Call currency options 17,971 47,012 81,804 146,787 5,176 240 Put currency options 16,409 41,872 80,655 138,936 190 483 Subtotal 52,912,177 79,947,958 210,157,647 343,017,782 7,771,734 7,014,421 Total 56,066,835 84,086,430 236,978,332 377,131,597 8,148,608 7,390,654 As of December 31, 2018 Notional amount Fair value Up to 3 months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 80,000 491,600 1,191,012 1,762,612 14,789 9,188 Cross currency swaps - 1,276,909 6,706,197 7,983,106 96,357 36,708 Subtotal 80,000 1,768,509 7,897,209 9,745,718 111,146 45,896 Cash flow hedge derivatives Currency forwards 205,750 168,151 - 373,901 - 8,013 Cross currency swaps 1,920,900 1,970,412 9,191,209 13,082,521 79,859 32,712 Subtotal 2,126,650 2,138,563 9,191,209 13,456,422 79,859 40,725 Trading derivatives Currency forwards 15,301,943 13,080,875 6,062,183 34,445,001 613,063 466,741 Interest rate swaps 12,024,095 22,064,681 69,453,618 103,542,394 723,870 577,835 Cross currency swaps 2,173,111 8,853,306 68,976,339 80,002,756 1,568,365 1,385,314 Call currency options 26,731 60,235 57,579 144,545 4,332 854 Put currency options 23,411 50,445 56,392 130,248 - 363 Subtotal 29,549,291 44,109,542 144,606,111 218,264,944 2,909,630 2,431,107 Total 31,755,941 48,016,614 161,694,529 241,467,084 3,100,635 2,517,728 |
Schedule of fair value hedged | Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2019 and 2018, classified by term to maturity: As of December 31, 2019 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loan 633,300 1,189,036 1,545,240 3,466,874 6,834,450 Commercial loans - 600,000 50,000 - 650,000 Debt instruments at FVOCI Chilean sovereign bonds - - 5,605 394,691 400,296 Mortgage financing bonds - 2,728 - - 2,728 Treasury bonds - - 149,474 37,369 186,843 Chilean Treasury bonds - 289,369 - - 289,369 Chilean Central Bank bonds - 254,685 - - 254,685 Time deposits and other time liabilities Time deposits 685,259 281,921 225,515 - 1,192,695 Issued debt instruments Senior bonds 651,681 1,133,698 2,253,892 3,324,099 7,363,370 Total 1,970,240 3,751,437 4,229,726 7,223,033 17,174,436 Hedging instrument Cross currency swaps 1,270,992 2,791,437 3,774,647 6,790,974 14,628,050 Interest rate swaps 699,248 960,000 455,079 432,059 2,546,386 Total 1,970,240 3,751,437 4,229,726 7,223,033 17,174,436 As of December 31, 2018 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loan 653,872 1,272,382 276,590 603,818 2,806,662 Debt instruments at FVOCI Chilean sovereign bonds - - - 172,072 172,072 Mortgage financing bonds - - 3,779 - 3,779 Treasury bonds - - - 174,440 174,440 Chilean Treasury bonds - 304,818 - 220,041 524,859 Chilean Central Bank bonds - 449,730 - - 449,730 Time deposits and other time liabilities Time deposits 486,013 - - - 486,013 Issued debt instruments Senior bonds 708,624 1,117,779 1,298,471 2,003,289 5,128,163 Total 1,848,509 3,144,709 1,578,840 3,173,660 9,745,718 Hedging instrument Cross currency swaps 1,276,909 2,794,709 1,228,840 2,682,648 7,983,106 Interest rate swaps 571,600 350,000 350,000 491,012 1,762,612 Total 1,848,509 3,144,709 1,578,840 3,173,660 9,745,718 |
Schedule of cash flow hedged | Below is the notional amount of the hedged items as of December 31, 2019 and 2018, and the period when the cash flows will be generated: As of December 31, 2019 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loans 3,334,734 1,505,595 1,995,156 3,136,962 9,972,447 Commercial loans - - - - - Debt instruments at FVOCI Chilean sovereign bonds - - - - - Chilean Central Bank bonds - - 82,727 - 82,727 Time deposits - - 267,286 225,981 493,267 Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) 358,118 341,283 - - 699,401 Senior bonds (fixed rate) 803,596 1,696,595 1,152,461 1,069,511 4,722,163 Interbank borrowings Interbank loans 826,442 142,932 - - 969,374 Total 5,322,890 3,686,405 3,497,630 4,432,454 16,939,379 Hedging instrument Cross currency swaps 4,205,129 2,918,149 3,497,630 4,432,454 15,053,362 Currency forwards 1,117,761 768,256 - - 1,886,017 Total 5,322,890 3,686,405 3,497,630 4,432,454 16,939,379 As of December 31, 2018 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortised cost Mortgage loans 1,890,696 3,026,824 1,459,389 2,467,090 8,843,999 Commercial loans 109,585 - - - 109,585 Debt instruments at FVOCI Chilean sovereign bonds - - - - - Chilean Central Bank bonds - - 246,306 246,306 Time deposits - - 166,628 - 166,628 Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) - 666,823 - - 666,823 Senior bonds (fixed rate) 500,583 52,790 601,639 503,721 1,658,733 Interbank borrowings Interbank loans 1,764,348 - - - 1,764,348 Total 4,265,212 3,746,437 2,473,962 2,970,811 13,456,422 Hedging instrument Cross currency swaps 3,891,311 3,746,437 2,473,962 2,970,811 13,082,521 Currency forwards 373,901 - - - 373,901 Total 4,265,212 3,746,437 2,473,962 2,970,811 13,456,422 |
Schedule of forecasted cash flows for interest rate risk | Below is an estimate of the periods in which cash flows are expected to be produced: b.1 Forecasted cash flows for interest rate risk: As of December 31, 2019 Within 1 year Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 25,328 10,220 217 - 35,765 Outflows (356,683 ) (245,480 ) (154,689 ) (163,151 ) (920,003 ) Net flows (331,355 ) (235,260 ) (154,472 ) (163,151 ) (884,238 ) Hedging instrument Inflows 356,683 245,480 154,689 163,151 920,003 Outflows (*) (25,328 ) (10,220 ) (217 ) - (35,765 ) Net flows 331,355 235,260 154,472 163,151 884,238 (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2018 Within 1 year Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 76,736 35,994 3,062 2,401 118,193 Outflows (125,747 ) (46,372 ) (13,311 ) (4,701 ) (190,131 ) Net flows (49,011 ) (10,378 ) (10,249 ) (2,300 ) (71,938 ) Hedging instrument Inflows 125,747 46,372 13,311 4,701 190,131 Outflows (*) (76,736 ) (35,994 ) (3,062 ) (2,401 ) (118,193 ) Net flows 49,011 10,378 10,249 2,300 71,938 (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. |
Schedule of forecasted cash flows for inflation risk | b.2 Forecasted cash flows for inflation risk: As of December 31, 2019 Within 1 year Between 1 and 3 years Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 74,574 109,486 216,972 422,362 823,394 Outflows (19,466 ) (50,151 ) (33,140 ) (52,880 ) (155,637 ) Net flows 55,108 59,335 183,832 369,482 667,757 Hedging instrument Inflows 19,466 50,151 33,140 52,880 155,637 Outflows (74,574 ) (109,486 ) (216,972 ) (422,362 ) (823,394 ) Net flows (55,108 ) (59,335 ) (183,832 ) (369,482 ) (667,757 ) As of December 31, 2018 Within 1 year Between 1 and 3 years Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 37,086 73,576 166,516 310,293 587,471 Outflows (14,036 ) - - - (14,036 ) Net flows 23,050 73,576 166,516 310,293 573,435 Hedging instrument Inflows 14,036 - - - 14,036 Outflows (37,086 ) (73,576 ) (166,516 ) (310,293 ) (587,471 ) Net flows (23,050 ) (73,576 ) (166,516 ) (310,293 ) (573,435 ) |
Schedule of market adjustment of cash flow hedges produced by hedge instruments | The accumulated effect of the mark to market adjustment of cash flow hedges produced by hedge instruments used in hedged cash flow was recorded in the Consolidated Statements of Changes in Equity, specifically within Other comprehensive income, as of December 31, 2019 and 2018, is as follows: As of December 31, Hedged item 2019 2018 MCh$ MCh$ Interbank loans (1,872 ) 309 Issued debt instruments (16,345 ) (10,893 ) Debt instruments at FVOCI (2,905 ) (1,392 ) Loans and accounts receivable at amortised cost (19,313 ) 21,779 Net flows (40,435 ) 9,803 |
Schedule of cash flow hedges amount reclassified from other comprehensive income | Below is a presentation of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income for the year: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Bond hedging derivatives (120 ) - - Interbank loans hedging derivatives (955 ) (683 ) - Cash flow hedge net gain (loss) (1,075 ) (683 ) - |
Schedule of macrohedges | Macrohedges Notional amount As of December 31, 2019 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortised cost Mortage loans 633,300 1,189,036 1,545,240 3,466,874 6,834,450 Commercial loans - 600,000 50,000 - 650,000 Notional amount As of December 31, 2018 Within 1 Between 1 and 3 Between 3 and 6 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortised cost Mortage loans 653,872 1,272,382 276,590 603,818 2,806,662 Commercial loans - - - - - |
Loans and Accounts Receivable_3
Loans and Accounts Receivable at Amortised Cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of loan portfolio composition | As of December 31, 2019 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance Net As of December 31, 2019 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 14,852 - - 14,852 1 - - 1 14,851 Commercial loans 10,179,002 870,028 659,157 11,708,187 41,296 41,734 301,094 384,124 11,324,063 Foreign trade loans 1,519,757 155,324 38,552 1,713,633 4,113 705 23,569 28,387 1,685,246 Checking accounts debtors 166,771 16,108 14,014 196,893 1,492 764 9,644 11,900 184,993 Factoring transactions 478,465 7,946 2,989 489,400 1,158 234 1,904 3,296 486,104 Student loans 57,206 5,942 8,125 71,273 1,774 1,950 5,595 9,319 61,954 Leasing transactions 1,184,765 178,556 61,541 1,424,862 5,415 8,270 30,960 44,645 1,380,217 Other loans and account receivable 201,805 11,163 30,257 243,225 2,178 2,287 20,432 24,615 218,328 Subtotal 13,802,623 1,245,067 814,635 15,862,325 57,427 55,944 393,198 506,569 15,355,756 Mortgage loans Loans with mortgage finance bonds 10,774 744 780 12,298 13 21 103 137 12,161 Endorsable mortgage mutual loans 92,792 2,819 4,541 100,152 72 103 641 816 99,336 Other mortgage mutual loans 10,172,400 454,385 523,760 11,150,545 8,361 14,385 77,360 100,106 11,050,439 Subtotal 10,275,966 457,948 529,081 11,262,995 8,446 14,509 78,104 101,059 11,161,936 Consumer loans Installment consumer loans 3,378,489 270,347 268,700 3,917,536 51,289 45,102 158,670 255,061 3,662,475 Credit card balances 1,341,734 17,668 18,308 1,377,710 12,507 4,894 9,936 27,337 1,350,373 Leasing transactions 3,569 303 80 3,952 56 30 36 122 3,830 Other consumer loans 239,255 4,400 3,342 246,997 3,544 782 1,621 5,947 241,050 Subtotal 4,963,047 292,718 290,430 5,546,195 67,396 50,808 170,263 288,467 5,257,728 Total 29,041,636 1,995,733 1,634,146 32,671,515 133,269 121,261 641,565 896,095 31,775,420 As of December 31, 2018 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance Net As of December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 15,093 - - 15,093 10 - - 10 15,083 Commercial loans 9,684,451 841,123 608,192 11,133,766 52,782 41,954 274,050 368,786 10,764,980 Foreign trade loans 1,646,337 56,295 49,805 1,752,437 5,466 735 33,716 39,917 1,712,520 Checking accounts debtors 183,290 16,452 15,420 215,162 2,108 467 11,209 13,784 201,378 Factoring transactions 370,391 6,005 4,587 380,983 829 91 3,433 4,353 376,630 Student loans 64,381 6,049 9,486 79,916 2,705 2,170 6,315 11,190 68,726 Leasing transactions 1,225,755 169,196 48,773 1,443,724 7,236 9,033 22,531 38,800 1,404,924 Other loans and account receivable 123,108 5,135 36,821 165,064 2,594 1,190 26,178 29,962 135,101 Subtotal 13,312,806 1,100,255 773,084 15,186,145 73,730 55,640 377,432 506,802 14,679,342 Mortgage loans Loans with mortgage finance bonds 15,261 1,241 924 17,426 20 40 117 177 17,249 Endorsable mortgage mutual loans 101,074 3,454 4,008 108,536 87 126 592 805 107,731 Other mortgage mutual loans 9,142,627 442,801 439,591 10,025,019 8,899 14,936 66,453 90,288 9,934,731 Subtotal 9,258,962 447,496 444,523 10,150,981 9,006 15,102 67,162 91,270 10,059,711 Consumer loans Installment consumer loans 2,693,260 231,107 265,303 3,189,670 50,748 48,622 148,017 247,387 2,942,283 Credit card balances 1,385,783 14,977 16,392 1,417,152 15,087 4,961 8,740 28,788 1,388,364 Leasing transactions 3,974 133 50 4,157 83 22 22 127 4,030 Other consumer loans 258,723 2,822 3,765 265,310 4,986 767 2,287 8,040 257,270 Subtotal 4,341,740 249,039 285,510 4,876,289 70,904 54,372 159,066 284,342 4,591,947 Total 26,913,508 1,796,790 1,503,117 30,213,415 153,640 125,114 603,660 882,414 29,331,001 |
Commerical Loans [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of gross carrying amount expected credit loss | An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 9,695,837 3,644,407 867,783 235,239 386,929 387,265 15,217,460 Transfers Transfers to stage 2 (518,990 ) (347,678 ) 518,990 347,678 - - - Transfers to stage 3 - (41,696 ) - - - 41,696 - Transfers to stage 3 - - (132,136 ) (230,125 ) 132,136 230,125 - Transfers to stage 1 158,935 159,009 (158,935 ) (159,009 ) - - - Transfers to stage 2 - - 11,229 120,293 (11,229 ) (120,293 ) - Transfers to stage 1 - 1,134 - - - (1,134 ) - Net changes of financial assets 542,311 415,524 (119,884 ) (68,960 ) (24,788 ) (31,945 ) 712,258 Write-off - - - - (83,845 ) (94,004 ) (177,849 ) Foreign exchange adjustments and others 330,171 (236,341 ) 17,920 (5,016 ) 1,804 1,918 110,456 At December 31, 2019 10,208,264 3,594,359 1,004,967 240,100 401,007 413,628 15,862,325 Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019(*) 30,189 44,104 31,066 24,945 198,115 179,771 508,190 Transfers Transfers to stage 2 (7,786 ) (20,058 ) 17,237 68,705 - - 58,098 Transfers to stage 3 - (2,666 ) - - - 16,087 13,421 Transfers to stage 3 - - (8,567 ) (42,601 ) 44,203 71,200 64,235 Transfers to stage 1 1,576 4,838 (7,525 ) (22,278 ) - - (23,389 ) Transfers to stage 2 - - 685 9,667 (3,867 ) (27,482 ) (20,997 ) Transfers to stage 1 - 88 - - - (242 ) (154 ) Net changes of the exposure and modifications in credit risk (6,948 ) 14,199 (3,151 ) (12,533 ) 41,365 54,962 87,894 Write-off - - - - (83,844 ) (94,014 ) (177,858 ) Foreign exchange adjustments and others 4,508 (4,617 ) 644 (350 ) 193 (3,249 ) (2,871 ) At December 31, 2019 21,539 35,888 30,389 25,555 196,165 197,033 506,569 (*) Include loans and ECL balances of the acquired Santander Consumer Chile S.A. An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 9,062,153 3,338,916 630,515 208,018 372,744 350,747 13,963,093 Transfers Transfers to stage 2 (225,062 ) (53,020 ) 225,062 53,020 - - - Transfers to stage 3 (16,654 ) (67,886 ) - - 16,654 67,886 - Transfers to stage 3 - - (59,688 ) (40,853 ) 59,688 40,853 - Transfers to stage 1 13,199 52,755 (13,199 ) (52,755 ) - - Transfers to stage 2 - - 4,451 36,247 (4,451 ) (36,247 ) - Transfers to stage 1 - 718 - - (718 ) - Net changes on financial assets 1,334,933 708,531 138,436 48,323 4,240 70,848 2,305,311 Write-off - - - - (53,921 ) (74,430 ) (128,351 ) Foreign Exchange adjustments and others (472,732 ) (363,045 ) (57,794 ) (19,528 ) (8,025 ) (32,784 ) (953,908 ) At December 31, 2018 9,695,837 3,616,969 867,783 232,472 386,929 386,153 15,186,145 Stage1 Stage2 Stage3 Individual Collective Individual Collective Individual Collective TOTAL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 29,797 50,014 28,282 23,041 191,397 160,182 482,713 Transfers Transfers to stage 2 (2,719 ) (1,525 ) 8,005 8,169 - - 11,930 Transfers to stage 3 (241 ) (2,697 ) - - 6,612 29,839 33,513 Transfers to stage 3 - - (5,541 ) (6,776 ) 22,705 17,475 27,863 Transfers to stage 1 167 553 (411 ) (3,402 ) - (3,093 ) Transfers to stage 2 - 330 1,854 (1,704 ) (6,776 ) (6,296 ) Transfers to stage 1 - 22 - - - (72 ) (50 ) Net changes of the exposure and modifications in the credit risk 4,105 3,770 2,740 2,855 1,251 29,253 43,974 Write-off - - - (37,439 ) (58,510 ) (95,949 ) Foreign Exchange adjustments and others (920 ) (6,646 ) (2,339 ) (1,167 ) 15,293 7,926 12,197 At December 31, 2018 30,189 43,541 31,066 24,574 198,115 179,317 506,802 |
Residential Mortgage Loans [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of gross carrying amount expected credit loss | An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 9,258,962 447,496 444,523 10,150,981 Transfers Transfers to stage 2 (481,646 ) 481,646 - - Transfers to stage 3 (60,329 ) - 60,329 - Transfers to stage 3 - (333,706 ) 333,706 - Transfers to stage 1 361,293 (361,293 ) - - Transfers to stage 2 - 250,896 (250,896 ) - Transfers to stage 1 2,338 - (2,338 ) - Net changes on financial assets 1,131,941 (35,200 ) (24,539 ) 1,072,202 Write-off - - (34,184 ) (34,184 ) Foreign exchange adjustments and others 63,407 8,109 2,480 73,996 At 31 December 2019 10,275,966 457,948 529,081 11,262,995 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 9,006 15,102 67,162 91,270 Transfers Transfers to stage 2 (3,318 ) 3,318 - - Transfers to stage 3 (311 ) - 311 - Transfers to stage 3 - (12,598 ) 12,598 - Transfers to stage 1 13,849 (13,849 ) - - Transfers to stage 2 - 29,303 (29,303 ) - Transfers to stage 1 193 - (193 ) - Net changes of the exposure and modifications in credit risk (11,007 ) (6,825 ) 57,300 39,468 Write-off - - (34,184 ) (34,184 ) Foreign exchange adjustments and others 34 58 4,413 4,505 At 31 December 2019 8,446 14,509 78,104 101,059 An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 8,191,229 469,349 436,317 9,096,895 Transfers Transfers to stage 2 (87,473 ) 87,473 - - Transfers to stage 3 (64,949 ) - 64,949 - Transfers to stage 3 - (54,488 ) 54,488 - Transfers to stage 1 162,432 (162,432 ) - - Transfers to stage 2 - 79,159 (79,159 ) - Transfers to stage 1 2,612 - (2,612 ) - Net changes on financial assets 1,226,259 34,653 10,215 1,271,127 Write-off - - (31,664 ) (31,664 ) Foreign Exchange adjustments and others (171,148 ) (6,218 ) (8,011 ) (185,377 ) At December 31, 2018 9,258,962 447,496 444,523 10,150,981 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 14,602 20,227 73,190 108,019 Transfers Transfers to stage 2 (516 ) 3,846 - 3,330 Transfers to stage 3 (383 ) - 9,060 8,677 Transfers to stage 3 - (2,518 ) 8,056 5,538 Transfers to stage 1 263 (6,255 ) - (5,992 ) Transfers to stage 2 - 2,296 (10,185 ) (7,889 ) Transfers to stage 1 91 - (232 ) (141 ) Net changes of the exposure and modifications in the credit risk 1,601 575 (1,784 ) 392 Write-off - - (13,548 ) (13,548 ) Foreign Exchange adjustments and others (6,652 ) (3,069 ) 2,605 (7,116 ) At December 31, 2018 9,006 15,102 67,162 91,270 |
Consumer Loans [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of gross carrying amount expected credit loss | An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 4,727,464 295,132 300,193 5,322,789 Transfers Transfers to stage 2 (358,403 ) 358,403 - - Transfers to stage 3 (25,210 ) - 25,210 - Transfers to stage 3 - (248,494 ) 248,494 - Transfers to stage 1 130,611 (130,611 ) - - Transfers to stage 2 - 56,489 (56,489 ) - Transfers to stage 1 514 - (514 ) - Net changes on financial assets 430,777 (45,093 ) (3,605 ) 382,079 Write-off - - (223,919 ) (223,919 ) Foreign Exchange adjustments and others 57,294 6,892 1,060 65,246 At December 31, 2019 4,963,047 292,718 290,430 5,546,195 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 (*) 75,495 60,467 165,052 301,014 Transfers Transfers to stage 2 (28,717 ) 109,916 - 81,199 Transfers to stage 3 (1,633 ) - 11,699 10,066 Transfers to stage 3 - (78,909 ) 111,334 32,425 Transfers to stage 1 7,941 (32,506 ) - (24,565 ) Transfers to stage 2 - 17,002 (31,914 ) (14,912 ) Transfers to stage 1 47 - (233 ) (186 ) Net changes of the exposure and modifications in the credit risk 15,641 (25,712 ) 135,298 125,227 Write-off - - (223,919 ) (223,919 ) Foreign Exchange adjustments and others (1,378 ) 550 2,946 2,118 At December 31, 2019 67,396 50,808 170,263 288,467 (*) Include loans and ECL balances of the acquired Santander Consumer Chile S.A. An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2018, is as follow: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 3,978,393 257,580 321,719 4,557,692 Transfers Transfers to stage 2 (46,936 ) 46,936 - Transfers to stage 3 (33,161 ) 33,161 - Transfers to stage 3 - (19,327 ) 19,327 - Transfers to stage 1 29,777 (29,777 ) - - Transfers to stage 2 - 17,988 (17,988 ) - Transfers to stage 1 37 - (37 ) - Net changes on financial assets 766,069 1,063 76,398 843,530 Write-off - - (115,933 ) (115,933 ) Foreign Exchange adjustments and others (352,439 ) (25,424 ) (31,137 ) (409,000 ) At December 31, 2018 4,341,740 249,039 285,510 4,876,289 Stage 1 Stage 2 Stage 3 Collective Collective Collective TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 72,712 54,557 170,090 297,359 Transfers Transfers to stage 2 (2,117 ) 14,655 - 12,538 Transfers to stage 3 (1,431 ) - 16,311 14,880 Transfers to stage 3 - (3,913 ) 10,721 6,808 Transfers to stage 1 1,320 (4,890 ) - (3,570 ) Transfers to stage 2 - 2,943 (9,107 ) (6,164 ) Transfers to stage 1 6 - (18 ) (12 ) Net changes of the exposure and modifications in the credit risk 3,782 (8,572 ) 42,194 37,404 Write-off - - (64,506 ) (64,506 ) Foreign Exchange adjustments and others (3,368 ) (408 ) (6,619 ) (10,395 ) At December 31, 2018 70,904 54,372 159,066 284,342 |
Loans and Accounts Receivable_4
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Loans And Accounts Receivable At Fair Value Through Other Comprehensive Income | |
Schedule of gross carrying amount | Stage1 Stage2 Stage3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 63,745 4,949 - 68,694 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes on financial assets 1,428 (4,914 ) - (3,486 ) Write-off - - - - Foreign Exchange adjustments and others 993 (35 ) - 958 At December 31, 2019 66,166 - - 66,166 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 88 18 - 106 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 65 (18 ) - 47 Write-off - - - - Foreign Exchange adjustments and others (52 ) - - (52 ) At December 31, 2019 101 - - 101 Stage1 Stage2 Stage3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2018 107,998 - - 107,998 Transfers Transfers to stage 1 - - - - Transfers to stage 2 (6,697 ) 6,697 - - Transfers to stage 3 - - - - Net changes on financial assets (40,754 ) (1,821 ) - (42,575 ) Write-off - - - - Foreign Exchange adjustments and others 3,198 73 - 3,271 At December 31, 2018 63,745 4,949 - 68,694 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2018 97 - - 97 Transfers Transfers to stage 1 - - - - Transfers to stage 2 (17 ) 26 - 9 Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 8 (8 ) - - Write-off - - - - Foreign Exchange adjustments and others - - - - At December 31, 2018 88 18 - 106 Stage 1 Stage 2 Stage 3 Individual Individual Individual TOTAL MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 88 18 - 106 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 65 (18 ) - 47 Write-off - - - - Foreign Exchange adjustments and others (52 ) - - (52 ) At 31 December 2019 101 - - 101 |
Debt Instruments at Fair Valu_2
Debt Instruments at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instruments At Fair Value Through Other Comprehensive Income Tables Abstract | |
Schedule of debt instrument | As of December 31, 2019 detail of debt instruments is as follows: As of December 31, 2019 2018 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds 272,802 657,096 Chilean central bank notes 1,186,724 56,719 Other Chilean central bank and government securities 1,908,031 1,207,221 Subtotal 3,367,557 1,921,036 of which sold under repurchase agreement 379,294 16,109 Other Chilean securities Time deposits in Chilean financial institutions 398 2,693 Mortgage finance bonds of Chilean financial institutions 16,748 19,227 Other instruments issued in the country 2,410 2,907 Subtotal 19,556 24,827 of which sold under repurchase agreement 131 128 Foreign financial securities Foreign Central Banks and Government securities 197,685 280,622 Other foreign financial securities 425,474 167,838 Subtotal 623,159 448,460 of which sold under repurchase agreement - - Total 4,010,272 2,394,323 |
Schedule of changes in the fair value and the corresponding ECL | An analysis of changes in the fair value and the corresponding ECL as of December 31, 2019 is as follows: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL Gross carrying amount at January 1, 2019 2,394,323 - - 2,394,323 New assets purchased 7,573,665 - - 7,573,665 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (5,694,456 ) - - (5,694,456 ) Changes due to modifications not derecognised 394,648 - - 394,648 Write-off - - - - Foreign Exchange adjustments and others (657,908 ) - - (657,908 ) At December 31, 2019 4,010,272 - - 4,010,272 Stage1 Stage2 Stage3 Collective Collective Collective TOTAL ECL at January 1, 2019 258 - - 258 New assets purchased 816 - - 816 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (614 ) - - (614 ) Changes due to modifications not derecognised 67 - - 67 Write-off - - - - Foreign Exchange adjustments and others (71 ) - - (71 ) At December 31, 2019 456 - - 456 An analysis of changes in the fair value and the corresponding ECL as of December 31, 2018 is as follows: Stage1 Stage2 Stage3 Collective Collective Collective TOTAL Gross carrying amount at January 1, 2018 2,574,546 - - 2,574,546 New assets purchased 5,037,857 - - 5,037,857 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (5,604,114 ) - - (5,604,114 ) Changes due to modifications not derecognised - - - - Write-off - - - - Foreign Exchange adjustments and others 386,034 - - 386,034 At December 31, 2018 2,394,323 - - 2,394,323 Stage1 Stage2 Stage3 Collective Collective Collective TOTAL ECL at January 1, 2018 324 - - 324 New assets purchased 634 - - 634 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognised or matured (excluding write offs) (705 ) - - (705 ) Changes due to modifications not derecognised - - - - Write-off - - - - Foreign Exchange adjustments and others 5 - - 5 At December 31, 2018 258 - - 258 |
Schedule of gross profits and losses realized on the sale of available for sale investments | Gross profits and losses realized on the sale of available for sale investments as of December 31, 2019, 2018 and 2017 is as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 5,781,636 3,505,266 6,469,344 Realized profits 63,828 8,802 4,867 Sale of available for sale investments generating realized losses 607,349 709,371 466,732 Realized losses 156 6,004 3 |
Schedule of available for sale investments cumulative unrealized profit and loss | The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2019: Less than 12 months More than 12 months Total Amortized Fair Unrealized Unrealized loss Amortized Fair Unrealized Unrealized loss Amortized Fair Unrealized Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 270,979 272,802 3,600 (1,777 ) - - - - 270,979 272,802 3,600 (1,777 ) Chilean central bank notes 1,186,487 1,186,724 237 - - - - - 1,186,487 1,186,724 237 - Other Chilean central bank and government securities 1,895,367 1,908,031 38,002 (25,338 ) - - - - 1,895,367 1,908,031 38,002 (25,338 ) Subtotal 3,352,833 3,367,557 41,839 (27,115 ) - - - - 3,352,833 3,367,557 41,839 (27,115 ) Other Chilean securities Time deposits in Chilean financial institutions 398 398 - - - - - - 398 398 - - Mortgage finance bonds of Chilean financial institutions 15,962 16,748 786 - - - - - 15,962 16,748 786 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 407 2,410 2,003 - - - - - 407 2,410 2,003 - Subtotal 16,767 19,556 2,789 - - - - - 16,767 19,556 2,789 - Foreign financial securities Foreign central banks and government securities 198,020 197,685 11,110 (11,445 ) - - - - 198,020 197,685 11,110 (11,445 ) Other foreign financial securities 413,468 425,474 13,080 (1,074 ) - - - - 413,468 425,474 13,080 (1,074 ) Subtotal 611,488 623,159 24,190 (12,519 ) - - - - 611,488 623,159 24,190 (12,519 ) Total 3,981,088 4,010,272 68,818 (39,634 ) - - - - 3,981,088 4,010,272 68,818 (39,634 ) The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2018: Less than 12 months More than 12 months Total Amortized Fair Unrealized Unrealized Amortized Fair value Unrealized Unrealized Amortized Fair Unrealized Unrealized MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 658,013 657,096 3,698 (4,615 ) 658,013 657,096 3,698 (4,615 ) Chilean central bank notes 56,737 56,719 10 (27 ) 56,737 56,719 10 (27 ) Other Chilean central bank and government securities 1,196,819 1,207,220 10,689 (262 ) 1,196,819 1,207,220 10,689 (262 ) Subtotal 1,911,569 1,921,035 14,397 (4,904 ) 1,911,569 1,921,035 14,397 (4,904 ) Other Chilean securities Time deposits in Chilean financial institutions 2,691 2,693 1 - 2,691 2,693 1 - Mortgage finance bonds of Chilean financial institutions 19,010 19,227 426 (209 ) 19,010 19,227 426 (209 ) Chilean financial institution bonds - - - - - - - - Chilean corporate bonds - - - - - - - - Other Chilean securities 220 2,907 2,687 - 220 2,907 2,687 - Subtotal 21,921 24,827 3,114 (209 ) 21,921 24,827 3,114 (209 ) Foreign financial securities Foreign central banks and government securities 280,021 280,622 602 - 280,021 280,622 602 - Other foreign financial securities 174,387 167,837 - (6,575 ) 174,387 167,837 - (6,575 ) Subtotal 454,408 448,459 602 (6,575 ) 454,408 448,459 602 (6,575 ) Total 2,387,898 2,394,322 18,112 (11,688 ) 2,387,898 2,394,322 18,112 (11,688 |
Investments in Associates and_2
Investments in Associates and other Companies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments In Associates And Other Companies | |
Schedule of investments in associates and other companies | Investment Ownership interest Profit and loss 2019 2018 2017 2019 2018 2017 2019 2018 2017 Company Redbanc S.A. (*) - 33,43 33,43 - 2,822 2,537 - - - Transbank S.A. (*) - 25,00 25,00 - 17,651 14,534 - - - Centro de Compensación Automatizado S.A. 33,33 33,33 33,33 2,184 1,894 1,589 293 305 236 Sociedad Interbancaria de Depósito de Valores S.A. 29,29 29,29 29,29 1,485 1,233 1,087 252 223 235 Cámara de Compensación de Alto 15,00 15,00 15,00 958 945 909 29 58 66 Administrador Financiero del Transantiago S.A. 20,00 20,00 20,00 3,986 3,680 3,098 390 582 317 Sociedad Nexus S.A. (*) - 12,90 12,90 - 2,279 1,911 - - - Servicios de Infraestructura de Mercado OTC S.A. 12,07 12,48 12,48 1,556 1,491 1,489 60 57 115 Subtotal 10,169 31,995 27,154 1,024 1,225 969 Shares or rights in other companies Bladex - - 136 13 19 25 Stock Exchanges - - 287 109 148 150 Others 8 8 8 - (67 ) - Total 10,177 32,003 27,585 1,146 1,325 1,144 (*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, therefore, the treatment established in IFRS 5 "Non-current assets held for sale and discontinued operations" has been applied, on the participation of said companies, which is described in Note 1 v) and Note 39. (1) In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A.", the Bank's share increased to 15,00%. |
Schedule of fair value of these equity investments | The fair value of these equity investments is as follows: December 31, 2019 2018 MCh$ MCh$ Bladex 328 329 Stock exchange 154 154 Total 482 483 |
Schedule of financial information of associates | Summary of financial information of associates as of and for the years ended December 31, 2019, 2018 and 2017: As of December 31, 2019 2018 2017 Assets Liabilities Equity Net income Assets Liabilities Equity Net income Assets Liabilities Equity Net income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Redbanc S.A. 23,413 14,106 8,441 866 20,825 12,469 7,505 851 21,235 13,751 6,428 1,056 Transbank S.A. 1,217,448 1,133,441 70,605 13,402 904,558 835,200 56,888 12,470 822,487 765,683 48,709 8,095 Centro de Compensación Automatizado S.A. 8,550 1,998 5,671 881 7,073 1,480 4,677 916 6,871 2,174 3,989 708 Sociedad Interbancaria de Depósito de Valores S.A. 5,074 4 4,209 861 4,392 230 3,400 762 3,720 60 2,858 802 Cámara de Compensación de Alto Valor S.A. 7,372 986 6,193 193 6,728 622 5,722 384 6,338 500 5,399 439 Administrador Financiero del Transantiago S.A. 54,712 34,787 17,978 1,947 55,818 37,419 15,490 2,909 51,304 35,814 13,907 1,583 Sociedad Nexus S.A. 31,147 13,471 17,660 16 35,139 18,335 13,955 2,849 32,669 18,888 10,354 3,427 Servicios de Infraestructura de Mercado OTC S.A. 15,152 2,682 11,993 477 25,273 13,313 11,506 454 17,913 6,414 10,963 536 Total 1,362,868 1,201,475 142,750 18,643 1,059,806 919,068 119,143 21,595 962,537 843,284 102,607 16,646 |
Schedule of investments in other companies | Activity with respect to investments in other companies during 2019, 2018 and 2017 is as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Opening balance as of January 1, 32,003 27,585 23,780 Acquisition of investments - - 3 Sale of investments - - - Participation in income 1,146 1,325 1,144 Dividends received (130 ) (38 ) (116 ) Other adjustments (22,842 ) 3,131 2,774 Total 10,177 32,003 27,585 (*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, As such, these investment have been reclassified to held for sale and presented under Other assets in the Consolidated Statement of Financial Position. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets | |
Schedule of composition of intangible assets | a. As of December 31, 2019 and 2018, the composition of intangible assets is as follows: As of December 31, 2019 Average remaining useful life Net opening balance as of January 1, 2019 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses - 82 35,997 (35,997 ) - Software development 2 66,841 214,005 (140,616 ) 73,389 Total 66,923 250,002 (176,613 ) 73,389 As of December 31, 2018 Average remaining useful life Net opening balance as of January 1, 2018 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 1 1,200 37,224 (37,142 ) 82 Software development 2 62,019 181,191 (114,350 ) 66,841 Total 63,219 218,415 (151,492 ) 66,923 |
Schedule of changes in the value of intangible assets | b.1 Gross balance Gross balances Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 37,224 181,191 218,415 Acquisitions - 32,860 32,860 Disposals and impairment (1,227 ) - (1,227 ) Other - (46 ) (46 ) Balances as of December 31, 2019 35,997 214,005 250,002 Balances as of January 1, 2018 37,224 159,833 197,057 Acquisitions - 29,562 29,562 Disposals and impairment - (8,204 ) (8,204 ) Other - - - Balances as of December 31, 2018 37,224 181,191 218,415 b.2 Accumulated amortization Accumulated amortization Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 (37,142 ) (114,350 ) (151,492 ) Year's amortization (82 ) (26,266 ) (26,348 ) Other changes 1,227 - 1,227 Balances as of December 31, 2019 (35,997 ) (140,616 ) (176,613 ) Balances as of January 1, 2018 (36,918 ) (96,922 ) (133,840 ) Year's amortization (224 ) (24,069 ) (24,293 ) Other changes - 6,641 6,641 Balances as of December 31, 2018 (37,142 ) (114,350 ) (151,492 ) |
Fixed Assets and Right of Use_2
Fixed Assets and Right of Use Assets and Lease Liability (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fixed Assets And Right Of Use Assets And Lease Liability | |
Schedule of property, plant, and equipment balances | As of December 31, 2019 Net opening balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 174,758 295 (121,338 ) 174 Equipment 56,865 219,600 (164,106 ) 55,494 Other 21,963 69,758 (47,552 ) 22,206 Total 253,586 585,342 (332,996 ) 252,346 As of December 31, 2018 Net opening balance as of January 1, 2018 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 159,352 289,568 (114,810 ) 174,758 Equipment 63,516 192,328 (135,463 ) 56,865 Other 15,458 62,156 (40,193 ) 21,963 Total 238,326 544,052 (290,466 ) 253,586 |
Schedule of changes in value of property, plant, and equipment | 2019 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 289,568 192,328 62,156 544,052 Additions 10,065 33,302 7,602 50,969 Disposals (2,636 ) (6,030 ) - (8,666 ) Impairment due to damage (*) (1,013 ) - - (1,013 ) Other - - - - Balances as of December 31, 2019 295,984 219,600 69,758 585,342 (*) Banco Santander-Chile have recognized in its consolidated financial statements as of December 31, 2019 an impairment of $ 1,013 million, due to social unrest in the country. 2018 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2018 259,316 169,286 55,613 484,215 Additions 30,396 27,697 8,646 66,739 Disposals (144 ) (4,616 ) (2,103 ) (6,863 ) Impairment due to damage - (39 ) - (39 ) Other - - - - Balances as of December 31, 2018 289,568 192,328 62,156 544,052 (*) Banco Santander-Chile has had to recognize in its financial statements as of December 31, 2018 impairment by $ 39 million, corresponding to looting in ATM's. |
Schedule of composition of the right of use assets | As of December 31, 2019 First application balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 154,284 181,325 (25,338 ) 155,987 Equipment - - - - Other - - - - Total 154,284 181,325 (25,338 ) 155,987 |
Schedule of right of use assets under lease | 2019 Land and building Lease improvements Equipment Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (*) 154,284 122,658 - - 154,284 Additions 46,423 7,013 - - 46,423 Disposals (17,669 ) (2,636 ) - - (17,669 ) Impairment (1,713 ) - - - (1,713 ) Other - - - - - Balances as of December 31, 2019 181,325 127,035 - - 181,325 (*) See Note N° 02. 2019 Land and building Lease improvements Equipment Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (*) - (68,145 ) Amortization for the period (26,889 ) (7,898 ) - - (26,889 ) Sales and disposals during the period 1,551 1,936 - - 1,551 Transfers - - - - - Others - - - - - Balances as of December 31, 2019 (25,338 ) (74,107 ) - - (25,338 ) (*) See Note N° 02. |
Schedule of composition of lease liability balances | As of December 31, 2019 2018 MCh$ MCh$ Lease liability 158,494 - Total 158,494 - |
Schedule of operating lease commitment | MCh$ Operating lease commitments as at December 31, 2018 173,602 Discounted using the lessee´s incremental borrowing rate of at the date of initial application 14,726 Lease liabilities recognised due to IFRS 16 implementation 139,558 Lease liability recognised as at January 1, 2019 154,284 |
Schedule of assets for the right of use leased assets and lease liability | As of December 31, 2019 2018 MCh$ MCh$ Depreciation (26,889 ) - Interests (2,965 ) - Short term lease (4,177 ) - Total (34,031 ) - |
Schedule of maturity level of the lease liability | As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 26,061 - Due after 1 year but within 2 years 24,311 - Due after 2 years but within 3 years 21,667 - Due after 3 years but within 4 years 19,411 - Due after 4 years but within 5 years 16,982 - Due after 5 years 50,062 - Total 158,494 - |
Schedule of future minimum lease cash inflows under non-cancellable operating leases | As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 603 469 Due after 1 year but within 2 years 598 882 Due after 2 years but within 3 years 500 469 Due after 3 years but within 4 years 498 460 Due after 4 years but within 5 years 412 428 Due after 5 years 1,563 2,242 Total 4,174 4,950 |
Current and Deferred taxes (Tab
Current and Deferred taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Current and Deferred Taxes [Abstract] | |
Schedule of current taxes | As of December 31, 2019 2018 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) (11,648 ) - Current tax liabilities - 8,093 Total tax payable (recoverable) (11,648 ) 8,093 (Assets) liabilities current taxes detail (net) Income tax, tax rate 153,424 196,527 Minus: Provisional monthly payments (159,943 ) (186,060 ) Credit for training expenses (2,145 ) (1,937 ) Land taxes leasing - Grant credits (1,149 ) (1,320 ) Other (1,835 ) 883 Total tax payable (11,648 ) 8,093 |
Schedule of effect on income | As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Income tax expense Current tax 153,424 196,527 145,112 Credits (debits) for deferred taxes Origination and reversal of temporary differences 37,432 (25,517 ) (6,751 ) Valuation provision - (56 ) 5,955 Subtotals 190,856 170,954 144,316 Tax for rejected expenses (Article No21) 927 1,110 610 Other (16,709 ) (4,920 ) 105 Net charges for income tax expense 175,074 167,144 145,031 |
Schedule of effective tax rate reconciliation | For the year ended December 31, 2019 2018 2017 Tax Tax Tax rate Amount rate Amount rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 27.00 214,566 27.00 207,046 25.50 183,671 Price level restatement for tax purposes (1) (6.33 ) (50,297 ) (5.15 ) (39,494 ) (3.03 ) (21,829 ) Single penalty tax (rejected expenses) 0.12 927 0.14 1,110 0.08 610 Effect of tax reform changes on deferred tax (2) - - - - (2.86 ) (20,600 ) Real estate taxes - - - - - - Other 1.24 9,878 (0.20 ) (1,518 ) 0.44 3,179 Effective tax rates and expenses for income tax 22.03 175,074 21.79 167,144 20.13 145,031 (1) Mainly corresponds to the permanent differences originated from the Own Tax Monetary Correction and the effect of the bonds received to article 104 of LIR. |
Schedule of effect of deferred taxes on comprehensive income | As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Debt instruments at FVOCI 8,074 1,166 Cash flow hedges 10,918 65 Total deferred tax assets recognised through other comprehensive income 18,992 1,231 Deferred tax liabilities Available for sale investments - - Debt instruments at FVOCI (15,830 ) (2,976 ) Cash flow hedges - (2,711 ) Total deferred tax liabilities recognised through other comprehensive income (15,830 ) (5,687 ) Net deferred tax balances in equity 3,162 (4,456 ) Deferred taxes in equity attributable to shareholders of the Bank 3,444 (4,102 ) Deferred tax in equity attributable to non-controlling interests (282 ) (354 ) |
Schedule of effect of deferred taxes on income | As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Interests and adjustments 9,531 9,384 Non-recurring charge-offs 15,325 13,389 Assets received in lieu of payment 1,214 785 Exchange rate adjustments - 1,675 Property, plant and equipment valuation 6,381 6,138 Allowance for loan losses 188,956 184,488 Provision for expenses 89,098 63,134 Derivatives - 3,924 Leased assets 116,226 107,897 Subsidiaries tax losses 5,416 5,314 Prepaid expenses - 156 Right of use assets 249 - Total deferred tax assets 432,396 396,284 Deferred tax liabilities Valuation of investments (17,518 ) (42 ) Prepaid expenses (20,347 ) (349 ) Depreciation - - Valuation provision (6,058 ) (5,989 ) Derivatives (36,512 ) - Exchange rate adjustments (2,817 ) (3,383 ) Other (75 ) (20 ) Total deferred tax liabilities (83,327 ) (9,783 ) |
Schedule of deferred tax assets and liabilities | As of December 31, 2019 2018 MCh$ MCh$ Deferred tax assets Recognised through other comprehensive income 18,992 1,231 Recognised through profit or loss 432,396 396,284 Total deferred tax assets 451,388 397,515 Deferred tax liabilities Recognised through other comprehensive income (15,830 ) (5,687 ) Recognised through profit or loss (83,327 ) (9,783 ) Total deferred tax liabilities (99,157 ) (15,470 ) |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Assets | |
Schedule of other assets | As of December 31, 2019 2018 MCh$ MCh$ Assets for leasing (1) 67,139 47,486 Assets received or awarded in lieu of payment Assets received in lieu of payment 18,755 17,525 Assets awarded at judicial sale 22,177 21,524 Provision on assets received in lieu of payment or awarded (2,042 ) (723 ) Subtotal 38,890 38,326 Other assets Guarantee deposits (margin accounts) (2) 314,616 170,232 Non-current assets classified as held for sale (4) 22,394 - Gold investments 680 522 VAT credit 22,663 9,097 Income tax recoverable 1,787 1,756 Prepaid expenses 432,030 477,819 Assets recovered from leasing for sale 3,575 6,848 Valuation adjustments by macro hedge (5) 210,867 9,414 Pension plan assets 670 846 Accounts and notes receivable 147,108 59,511 Notes receivable through brokerage and simultaneous transactions 43,354 71,382 Other receivable assets 44,262 48,612 Other assets (3) 89,111 49,365 Subtotal 1,333,117 905,404 Total 1,439,146 991,216 (1) Assets available to be granted under the financial leasing agreements. (2) Guarantee deposits (margin accounts) correspond to collateral associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. (3) Other assets mainly include settlement of derivatives and other financial transactions. (4) Corresponds to the interests in Redbanc S.A., Transbank S.A. and Nexus S.A., which have been reclassified as non-current assets classified as held for sale in accordance with IFRS 5 "Non-current assets held for sale and discontinued operations ", for additional information see Note 1 v) and Note 39. (5) Net assets and liabilities fair value valuation subject to macro hedges. See Note 8 |
Time Deposits and Other Time _2
Time Deposits and Other Time Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Scheduel of time deposits and other time liabilities | As of December 31, 2019 2018 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 8,093,108 6,794,132 Other deposits and demand accounts 741,103 709,711 Other demand liabilities 1,463,221 1,237,574 Subtotal 10,297,432 8,741,417 Time deposits and other time liabilities Time deposits 13,064,932 12,944,846 Time savings account 123,787 118,587 Other time liabilities 4,098 4,386 Subtotal 13,192,817 13,067,819 Total 23,490,249 21,809,236 |
Interbank Borrowings (Tables)
Interbank Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement Line Items [Line Items] | |
Schedule of Interbank borrowings | As of December 31, 2019 2018 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile Other obligations with Central Bank of Chile - - Subtotal - - Loans from domestic financial institutions 286,603 - Loans from foreign financial institutions Bank of America N.A. US Foreign 355,051 38,906 Citibank N.A. 269,841 - Mizuho Bank Ltd Ny 269,404 223,829 Wells Fargo Bank N.A. 231,823 - Sumitomo Mitsui Banking Corporation 179,415 278,765 Standard Chartered Bank 153,373 50,960 The Bank of Nova Scotia 134,819 163,927 The Bank of New York Mellon 119,616 69,921 Barclays Bank Plc London 98,803 34,965 Corporacion Andina De Fomento 75,097 52,371 Zürcher Kantonalbank 75,002 - The Toronto Dominion Bank 71,191 - Hsbc Bank Plc 69,786 34,936 Bank of Montreal 56,123 31 State Bank of India 28,231 331 Banco Latinoamericano De Comercio 18,731 - Banco Santander Brasil S.A. 7,873 8,040 Banco Santander Hong Kong 3,697 6,047 Standard Chartered Bank 3,613 843 Bank of China 952 7,777 Industrial and Commercial Bank 898 30 Banco Santander Central Hispano 848 1,295 Korea Exchange Bank 761 - Hong Kong and Shanghai Banking 684 1,300 China Merchants Bank 597 - Unicredito Italiano Spa 583 1,117 Banco Bilbao Vizcaya Argentaria 571 888 Rabobank, Hong Kong Branch 477 - Bbva Bancomer, S.A. 553 - Kbc Bank Nv 406 - Bank of Communications 385 - Bank of The West 261 - Danske Bank A/S 224 - Deutsche Bank A.G. 193 5,558 Kookmin Bank 185 - Caixabank S.A. 166 - E, Sun Commercial Bank Ltd. 159 - Bank of Tokio Mitsubishi 156 1,032 Woori Bank 155 - Agricultural Bank of China 152 106 Bank of Taiwan 135 127 Shinhan Bank 133 - Taiwan Cooperative Bank 131 - Keb Hana Bank 119 - United Bank of India 113 378 Banca Di Credito Cooperativo A 112 - Joint Stock Commercial Bank Fo. 110 33 Banca Nazionale Del Lavoro S.P. 106 77 Hua Nan Commercial Bank Ltd. 102 164 Industrial Bank of Korea 96 195 Banco Bradesco S.A. 84 89 Bank of Ningbo 83 - Bank of East Asia, Limited 82 205 Hdfc Bank Limited 72 - China Everbright Bank 70 - Cassa Di Risparmio Di Parma E 69 - Mizuho Corporate Bank Ltd. 67 - Banco Bpm Spa 66 21 Canara Bank 66 - Banco Comercial Portugues 63 - Caixa Destalvis I Pensions de Barcelona 63 - Shanghai Pudong Development Ba 59 237 Subtotal 2,232,856 1,284,501 As of December 31, 2019 2018 MCh$ MCh$ Loans from foreign financial institutions, continued Banca Monte dei Paschi di Siena 58 179 Banca Commerciale Italiana S.P. 50 288 Fortis Bank S.A./N.V. Brussels 50 42 Habib Bank Limited 38 - Kasikornbank Public Company Li 33 - Banco Rio De La Plata S.A. 24 - Australia And New Zealand Bank 23 - Banco de la Republica Oriental 23 41 Citic Industrial Bank 19 - Shangai Pudong Development Ban 14 - Banco Caixa Geral 10 - Bank of Baroda 9 37 Shanghai Commercial and Saving 6 33 Hsbc Bank USA 2 394 Akbank T,A,S, - 106 Banca Lombarda E Piemontese S. - 60 Banca Popolare Dell'Emilia Rom - 31 Banca Popolare Di Milano S.C.A. - 6 Banco Commerzbank - 19 Banco de Galicia Y Buenos Aires - 231 Banco De Sabadell S.A. - 20 Banco Internacional S.A. - 33 Banco Itau S.A. - 14 Banistmo S.A. - 32 Bank of India - 51 Bank of Shanghai - 134 Bankinter S.A. - 24 Banque Bruxelles Lambert S.A. - 509 Bnp Paribas, Hong Kong Branch - 3,554 Caixabank S.A. - 44 Cajas Rurales Unidas - 18 Canara Bank - 237 Casa Di Risparmo De Padova E.R. - 30 Cassa Di Risparmio In Bologna - 21 Chang Hwa Commercial Bank Ltd. - 18 China Construcción Bank - 35 Citibank N.A. - 241,041 Credit Agricole - 106 Credit Lyonnais - 139 Development Bank of Singapore - 3 Dexia Bank SA - 789 First Union National Bank - 201 Hang Seng Bank (China) Limited - 6 Hanvit Bank - 58 Hdfc Bank Limited - 28 Hsbc Bank Middle East - 77 International Commercial Bank - 70 Kbc Bank Nv - 23 Keb Hana Bank - 2,318 Kookmin Bank - 78 Mega International Commercial - 9 Metropolitan Bank Limited - 170 Oriental Bank of Commerce - 87 Rabobank, Hong Kong Branch - 1,548 Raiffeisen Bank Polska S.A. - 31 Shinhan Bank - 380 Taiwan Business Bank - 19 Taiwan Cooperative Bank - 66 U,S, Bank (Formerly First Bank) - 18 United World Chinese Commercial Bank - 15 Wachovia Bank N.A. - 33,499 Wells Fargo Bank N.A. - 216,749 Woori Bank - 356 Subtotal 359 504,125 Total 2,519,818 1,788,626 |
Loans From Domestic Financial Institutions [Member] | |
Statement Line Items [Line Items] | |
Schedule of loans from financial institutions | These obligations' maturities are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 158,855 - Due within 1 and 2 year 117,344 - Due within 2 and 3 year 8,167 - Due within 3 and 4 year 2,237 - Due after 5 years - - Total loans from domestic financial institutions 286,603 - |
Loans From Foreign Financial Institutions [Member] | |
Statement Line Items [Line Items] | |
Schedule of loans from financial institutions | Foreign obligations As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 1,970,790 1,648,955 Due within 1 and 2 year 225,025 139,671 Due within 2 and 3 year 37,400 - Due within 3 and 4 year - - Due after 5 years - - Total loans from foreign financial institutions 2,233,215 1,788,626 |
Issued Debt Instruments and O_2
Issued Debt Instruments and Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Issued Debt Instruments and Other Financial Liabilities [Abstract] | |
Schedule of composition of issued debt instruments and other financial liabilities | As of December 31, 2019 and 2018, composition of this item is as follows: As of December 31, 2019 2018 MCh$ MCh$ Other financial liabilities Obligations to public sector 9,198 32,449 Other domestic obligations 204,705 175,210 Foreign obligations 12,455 7,741 Subtotals 226,358 215,400 Issued debt instruments Mortgage finance bonds 18,502 25,490 Senior bonds 8,574,213 7,198,865 Mortgage bond 89,924 94,921 Subordinated bonds 818,084 795,957 Subtotals 9,500,723 8,115,233 Total 9,727,081 8,330,633 |
Schedule of debts classified | The Bank's debts, both current and non-current, are summarized below: As of December 31, 2019 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 6,013 12,489 18,502 Senior bonds 2,078,202 6,496,011 8,574,213 Mortgage bond 5,137 84,787 89,924 Subordinated bonds - 818,084 818,084 Issued debt instruments 2,089,352 7,411,371 9,500,723 Other financial liabilities 226,033 325 226,358 Total 2,315,385 7,411,696 9,727,081 As of December 31, 2018 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 6,830 18,660 25,490 Senior bonds 844,898 6,353,967 7,198,865 Mortgage bond 4,833 90,088 94,921 Subordinated bonds 1 795,956 795,957 Issued debt instruments 856,562 7,258,671 8,115,233 Other financial liabilities 205,871 9,529 215,400 Total 1,062,433 7,268,200 8,330,633 |
Schedule of mortgage finance bonds | As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 6,013 6,830 Due after 1 year but within 2 years 4,944 5,946 Due after 2 year but within 3 years 3,928 5,034 Due after 3 year but within 4 years 2,442 3,997 Due after 4 year but within 5 years 1,005 2,480 Due after 5 years 170 1,203 Total mortgage bonds 18,502 25,490 |
Schedule of senior bonds by currency | The following table shows senior bonds by currency: As of December 31, 2019 2018 MCh$ MCh$ Santander bonds in UF 4,814,604 4,095,741 Santander bonds in USD 1,649,238 1,094,267 Santander bonds in CHF 499,485 386,979 Santander bonds in Ch$ 1,242,633 1,291,900 Santander bonds in AUD 124,748 24,954 Current bonds in JPY 77,797 191,598 Santander bonds in EUR 165,708 113,426 Total senior bonds 8,574,213 7,198,865 |
Schedule of placement of senior bonds | In 2019, the Bank issued bonds for UF 29,678,000; CLP 115,000,000,000; EUR 30,000,000; AUD 160,000,000 and CHF 250,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series Series maximum Maturity date T7 UF 5,000,000 4 2,50% 02-01-2016 5,000,000 02-01-2023 T8 UF 5,678,000 4 y 6 2,55% 02-01-2016 5,678,000 08-01-2023 T14 UF 9,000,000 8 2,80% 02-01-2016 18,000,000 02-01-2027 T6 UF 5,000,000 10 1,70% 11-01-2018 5,000,000 05-01-2029 T10 UF 5,000,000 5 y 4 2,60% 02-01-2016 5,000,000 08-01-2024 Total UF 29,678,000 38,678,000 U9 CLP 75,000,000,000 2 y 8 ICP + 0,80% yearly 11-01-2018 75,000,000,000 11-19-2021 P-5 CLP 75,000,000,000 2 y 7 5,3% yearly 03-01-2015 150,000,000,000 03-01-2022 Total CLP 150,000,000,000 225,000,000,000 EUR EUR 30,000,000 7 1,10% 02-01-2019 40,000,000 02-07-2026 EUR EUR 25,000,000 5 1,25% 11-26-2019 25,000,000 11-26-2034 Total EUR 55,000,000 65,000,000 AUD AUD 22,000,000 15 3,66% yearly 05-20-2019 22,000,000 05-20-2034 AUD AUD 20,000,000 5 1,13% yearly 07-11-2019 20,000,000 07-11-2024 AUD AUD 28,000,000 5 1,13% yearly 07-17-2019 28,000,000 07-17-2024 AUD AUD 15,000,000 5 1,13% yearly 07-17-2019 15,000,000 07-17-2024 AUD AUD 75,000,000 20 3,05% yearly 08-30-2019 75,000,000 02-28-2039 AUD AUD 12,000,000 5 3,16% yearly 11-12-2019 12,000,000 11-20-2034 AUD AUD 13,000,000 5 2,91% yearly 11-21-2019 13,000,000 11-27-2034 Total 185,000,000 185,000,000 CHF CHF 150,000,000 5 y 6 0,38% yearly 03-12-2019 150,000,000 09-27-2024 CHF CHF 100,000,000 10 0,14% yearly 08-29-2019 100,000,000 08-29-2029 Total CHF 250,000,000 250,000,000 |
Schedule of partial repurchase | During 2019, the Bank performed a partial repurchase of the following bonds: Date Type Currency Amount 02-12-2019 Senior CLP 10,000,000,000 02-14-2019 Senior CLP 30,000,000,000 02-19-2019 Senior CLP 4,200,000,000 02-22-2019 Senior CLP 14,240,000,000 02-22-2019 Senior CLP 30,000,000 02-22-2019 Senior CLP 10,000,000 03-01-2019 Senior CLP 11,800,000,000 03-04-2019 Senior CLP 40,080,000,000 03-05-2019 Senior CLP 20,000,000,000 03-15-2019 Senior UF 156,000 03-19-2019 Senior UF 418,000 03-20-2019 Senior CLP 6,710,000,000 03-20-2019 Senior UF 154,000 03-21-2019 Senior UF 100,000 03-25-2019 Senior UF 100,000 03-26-2019 Senior UF 90,000 04-08-2019 Senior CLP 3,950,000,000 04-10-2019 Senior UF 409,000 04-16-2019 Senior UF 55,000 04-17-2019 Senior CLP 130,000,000 04-18-2019 Senior CLP 330,000,000 05-16-2019 Senior CLP 14,880,000,000 05-16-2019 Senior UF 9,000 06-13-2019 Senior UF 1,000 10-01-2019 Senior CLP 10,960,000,000 10-02-2019 Senior CLP 100,000,000 10-04-2019 Senior CLP 60,000,000 11-05-2019 Senior CLP 15,220,000,000 11-07-2019 Senior CLP 3,620,000,000 11-13-2019 Senior CLP 5,320,000,000 11-14-2019 Senior UF 2,977,000 11-28-2019 Senior UF 340,000 12-02-2019 Senior UF 105,000 |
Schedule of bank issued bonds | In 2018, the Bank issued bonds for UF 23,000,000; CLP 225,000,000,000; USD 70,000,000, EUR 66,000,000, AUD 20,000,000; CHF 115,000,000 and JPY 7,000,000,000, detailed as follows: Series Currency Amount Term Issuance rate Series approval Series maximum Maturity date T1 UF 4,000,000 2 2,20% 02-01-2016 7,000,000 02-01-2020 T4 UF 4,000,000 3 2,35% 02-01-2016 8,000,000 08-01-2021 T11 UF 5,000,000 7 2,65% 02-01-2016 5,000,000 02-01-2025 T12 UF 5,000,000 7 2,70% 02-01-2016 5,000,000 08-01-2025 T15 UF 5,000,000 11 3,00% 02-01-2016 5,000,000 08-01-2028 Total UF 23,000,000 30,000,000 P5 CLP 75,000,000,000 4 5,30% 03-05-2015 150,000,000,000 03-01-2022 U4 CLP 75,000,000,000 3 y 4 ICP + 1,00% 01-10-2017 75,000,000,000 01-10-2022 U3 CLP 75,000,000,000 2 y 7 ICP + 1,00% 06-11-2018 75,000,000,000 06-11-2021 Total CLP 225,000,000,000 300,000,000,000 USD USD 50,000,000 10 4,17% 10-10-2018 50,000,000 10-10-2028 USD USD 20,000,000 2 0,03% 11-16-2018 20,000,000 11-16-2020 Total USD 70,000,000 70,000,000 EUR EUR 26,000,000 7 1,00% 05-04-2018 26,000,000 05-28-2025 EUR EUR 40,000,000 12 1,78% 06-07-2018 40,000,000 06-15-2030 Total EUR 66,000,000 66,000,000 AUD AUD 20,000,000 5 3,56% 11-13-2018 20,000,000 11-13-2023 Total AUD 20,000,000 20,000,000 CHF CHF 115,000,000 5 y 3 0,44% 09-21-2018 115,000,000 12-21-2023 Total CHF 115,000,000 115,000,000 JPY JPY 4,000,000,000 10 y 6 0,65% 07-13-2018 4,000,000,000 01-13-2029 JPY JPY 3,000,000,000 5 0.56% 10-30-2018 3,000,000,000 10-30-2023 Total JPY 7,000,000,000 7,000,000,000 |
Schedule of bank performed a partial repurchase | During 2018, the Bank performed a partial repurchase of the following bond: Date Type Currency Amount 01-04-2018 Senior CLP 12,890,000,000 01-04-2018 Senior CLP 4,600,000,000 01-22-2018 Senior UF 24,000 04-05-2018 Senior UF 484,000 04-06-2018 Senior UF 184,000 04-23-2018 Senior UF 216,000 04-24-2018 Senior UF 4,000 04-25-2018 Senior UF 262,000 05-10-2018 Senior UF 800,000 06-07-2018 Senior USD 3,090,000 12-11-2018 Senior USD 250,000,000 |
Schedule of maturities of senior bonds | The maturities of senior bonds are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 2,078,202 844,898 Due after 1 year but within 2 years 1,147,825 1,331,255 Due after 2 year but within 3 years 1,221,393 1,073,847 Due after 3 year but within 4 years 742,238 1,104,547 Due after 4 year but within 5 years 1,278,746 421,918 Due after 5 years 2,105,809 2,422,400 Total senior bonds 8,574,213 7,198,865 |
Schedule of mortgage bonds per currency | Detail of mortgage bonds per currency is as follows: As of December 31, 2019 2018 MCh$ MCh$ Mortgage bonds in UF 89,924 94,921 Total mortgage bonds 89,924 94,921 |
Schedule of maturities of mortgage bond | The maturities of Mortgage bonds are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year 5,137 4,833 Due after 1 year but within 2 years 8,248 7,758 Due after 2 year but within 3 years 8,514 8,008 Due after 3 year but within 4 years 8,788 8,267 Due after 4 year but within 5 years 9,072 8,534 Due after 5 years 50,165 57,521 Total Mortgage bonds 89,924 94,921 |
Schedule of subordinated bonds | Detail of the subordinated bonds per currency is as follows: As of December 31, 2019 2018 MCh$ MCh$ Subordinated bonds denominated in CLP - 1 Subordinated bonds denominated in UF 818,084 795,956 Total subordinated bonds 818,084 795,957 |
Schedule of maturities of subordinated bonds | During 2019 and 2018, the Bank has not placed any subordinated bonds. The maturities of subordinated bonds, are as follows: As of December 31, 2019 2018 MCh$ MCh$ Due within 1 year - 1 Due after 1 year but within 2 years - - Due after 2 year but within 3 years - - Due after 3 year but within 4 years - - Due after 4 year but within 5 years - - Due after 5 years 818,084 795,956 Total subordinated bonds 818,084 795,957 |
Schedule of other financial liabilities | The composition of other financial obligations, by maturity, is detailed below: As of December 31, 2019 2018 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 41 9,221 Due after 2 year but within 3 years 44 40 Due after 3 year but within 4 years 48 44 Due after 4 year but within 5 years 53 48 Due after 5 years 132 176 Non-current portion subtotal 318 9,529 Current portion: Amounts due to credit card operators 151,984 172,425 Acceptance of letters of credit 5,709 2,894 Other long-term financial obligations, short-term portion 68,347 30,552 Current portion subtotal 226,040 205,871 Total other financial liabilities 226,358 215,400 |
Maturity of Financial Assets _2
Maturity of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Maturity of Financial Assets and Liabilities [Abstract] | |
Schedule of assets and liabilities maturities | As of December 31, 2019 and 2018, the detail of the maturities of assets and liabilities is as follows: As of December 31, 2019 Demand Up to Between 1 and Between 3 and Subtotal Between 1 and Between 3 and More than Subtotal Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 3,554,520 - - - 3,554,520 - - - - 3,554,520 Cash items in process of collection 355,062 - - - 355,062 - - - - 355,062 Financial assets held for trading - 38,644 - 645 39,289 181,705 37,659 11,551 230,915 270,204 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 371,775 400,196 1,543,446 2,315,417 1,383,493 1,346,329 3,103,369 5,833,191 8,148,608 Loans and accounts receivables at amortised cost (*) 296,461 2,963,578 2,400,909 5,511,374 11,172,322 5,706,433 4,093,147 11,699,613 21,499,193 32,671,515 Loans and account receivable at fvoci (**) - - - 5,953 5,953 - - 60,213 60,213 66,166 Debt instruments at fvoci - 1,131,500 3,752 52,130 1,187,382 508,596 725,419 1,588,875 2,822,890 4,010,272 Equity instruments at fvoci - - - - - - - 482 482 482 Guarantee deposits (margin accounts) 314,616 - - - 314,616 - - - - 314,616 Total financial assets 4,520,659 4,505,497 2,804,857 7,113,548 18,944,561 7,780,227 6,202,554 16,464,103 30,446,884 49,391,445 Financial liabilities Deposits and other demand liabilities 10,297,432 - - - 10,297,432 - - - - 10,297,432 Cash items in process of being cleared 198,248 - - - 198,248 - - - - 198,248 Obligations under repurchase agreements - 380,055 - - 380,055 - - - - 380,055 Time deposits and other time liabilities 142,273 5,184,567 4,905,414 2,417,703 12,649,957 357,856 163,121 21,883 542,860 13,192,817 Financial derivative contracts - 422,749 427,825 951,684 1,802,258 1,253,280 1,180,948 3,154,168 5,588,396 7,390,654 Interbank borrowings 94 363,560 624,167 1,141,824 2,129,645 387,936 2,237 - 390,173 2,519,818 Issued debt instruments - 285,159 759,519 1,044,674 2,089,352 2,394,850 2,042,292 2,974,229 7,411,371 9,500,723 Lease liabilities - - - 26,061 26,061 45,978 36,393 50,062 132,433 158,494 Other financial liabilities 161,021 5,155 30,969 28,888 226,033 83 99 143 325 226,358 Guarantees received (margin accounts) 994,714 - - - 994,714 - - - - 994,714 Total financial liabilities 11,793,782 6,641,245 6,747,894 5,610,834 30,793,755 4,439,983 3,425,090 6,200,485 14,065,558 44,859,313 (*) Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$896,095 million. (**) Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$101 million. As of December 31, 2018 Demand Up to Between 1 and Between 3 and Subtotal Between 1 and Between 3 and More than Subtotal Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,065,411 - - - 2,065,411 - - - - 2,065,411 Cash items in process of collection 353,757 - - - 353,757 - - - - 353,757 Financial assets held for trading - 1,064 - 11,642 12,706 16,331 20,080 27,924 64,335 77,041 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 111,268 128,024 543,722 783,014 723,622 552,133 1,041,866 2,317,621 3,100,635 Loans and accounts receivables at amortised cost (*) 238,213 3,295,003 2,323,442 4,880,726 10,737,384 5,474,289 3,236,349 10,765,393 19,476,031 30,213,415 Loans and account receivable at fvoci (**) - - - 25,294 25,294 4,949 - 38,451 43,400 68,694 Debt instruments at fvoci - 2,391,329 - 1 2,391,330 86 - 2,907 2,993 2,394,323 Equity instruments at fvoci - - - - - - - 481 483 483 Guarantee deposits (margin accounts) 170,232 - - - 170,232 - - - - 170,232 Total financial assets 2,827,613 5,798,664 2,451,466 5,461,385 16,539,128 6,219,277 3,808,562 11,877,024 21,904,863 38,443,991 Financial liabilities Deposits and other demand liabilities 8,741,417 - - - 8,741,417 - - - - 8,741,417 Cash items in process of being cleared 163,043 - - - 163,043 - - - - 163,043 Obligations under repurchase agreements - 48,545 - - 48,545 - - - - 48,545 Time deposits and other time liabilities 122,974 5,248,418 4,108,556 3,326,199 12,806,147 191,547 6,137 63,988 261,672 13,067,819 Financial derivative contracts - 131,378 120,361 349,551 601,290 495,789 471,185 949,464 1,916,438 2,517,728 Interbank borrowings 39,378 16,310 404,575 1,188,692 1,648,955 139,671 - - 139,671 1,788,626 Issued debt instruments - 71,465 39,267 745,830 856,562 2,431,849 1,549,743 3,277,079 7,258,671 8,115,233 Other financial liabilities 179,681 934 2,412 22,844 205,871 9,261 92 176 9,529 215,400 Guarantees received (margin accounts) 540,091 - - - 540,091 - - - - 540,091 Total financial liabilities 9,786,584 5,517,050 4,675,171 5,633,116 25,611,921 3,268,117 2,027,157 4,290,707 9,585,981 35,197,902 (*) Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$ 882,414 million. (**) Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$106 million. |
Provisions and Contingent Pro_2
Provisions and Contingent Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Provisions [abstract] | |
Schedule of composition provisions | a) As of December 31, 2019 and 2018, the composition is as follows: As of December 31, 2019 2018 MCh$ MCh$ Provisions for personnel salaries and expenses 101,223 93,379 Provisions for mandatory dividends 185,727 178,600 Provisions for contingent loan 23,792 24,329 Provision for contingencies 15,388 8,963 Total 326,130 305,271 |
Schedule of activity regarding provision | b) Below is the activity regarding provisions during the years ended December 31, 2019, 2018 and 2017 Personnel salaries and expenses Mandatory Dividend Contingent loan Contingencies Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 93,379 178,600 24,329 8,963 305,271 Provisions established 78,316 185,727 16,277 27,975 298,627 Application of provisions (70,385 ) - - (155 ) (70,540 ) Provisions released (552 ) (178,600 ) (16,814 ) (21,395 ) (207,693 ) Reclassifications - - - - - Other 465 - - - 465 Balances as of December 31, 2019 101,223 185,727 23,792 15,388 326,130 Balances as of January 1, 2018 97,576 168,840 10,079 27,303 303,798 Provisions established 80,912 178,600 19,440 19,647 298,599 Application of provisions (72,975 ) - - (4,431 ) (77,406 ) Provisions released (3,195 ) (168,840 ) (5,190 ) (33,535 ) (210,781 ) Reclassifications - - - - - Other (8,939 ) - - - (8,939 ) Balances as of December 31, 2018 93,379 178,600 24,329 8,963 305,271 Balances as of January 1, 2017 72,592 142,815 11,399 65,404 292,210 Provisions established 106,687 168,840 7,341 8,645 291,513 Application of provisions (81,703 ) (142,815 ) (389 ) (224,907 ) Provisions released - - (8,661 ) (46,357 ) (55,018 ) Reclassifications - - - Other - - - Balances as of December 31, 2017 97,576 168,840 10,079 27,303 303,798 |
Schedule of provisions for personnel salaries and expenses | c) Provisions for personnel salaries and expenses includes: As of December 31, 2019 2018 MCh$ MCh$ Provision for seniority compensation 6,797 9,531 Provision for stock-based personnel benefits - - Provision for performance bonds 68,595 59,633 Provision for vacations 23,864 22,792 Provision for other personnel benefits 1,967 1,423 Total 101,223 93,379 |
Schedule of provisions for contingent loan risk | An analysis of changes in the corresponding ECL allowance as of December 31, 2019 and 2018 is as follows: Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2019 1,701 15,070 259 172 3,856 3,271 24,329 Transfer Transfers to stage 2 (100 ) (318 ) 122 878 - - 582 Transfers to stage 3 - (203 ) - - 167 4,675 4,639 Transfers to stage 3 - - (24 ) (144 ) 1,742 1,290 2,864 Transfers to stage 1 46 122 (82 ) (473 ) - - (387 ) Transfers to stage 2 - - - 234 (54 ) (1,444 ) (1,264 ) Transfers to stage 1 - 45 - - (130 ) (1,278 ) (1,363 ) Net changes on financial assets (423 ) (1,474 ) (41 ) (106 ) (2,100 ) 2,173 (5,471 ) Write-off - - - - - - - Foreign Exchange adjustments and others (9 ) (115 ) (8 ) (19 ) 6 8 (137 ) At December 31, 2019 2,061 13,127 226 542 3,500 4,336 23,792 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2018 1,627 16,261 219 187 2,884 3,182 24,360 Transfer Transfers to stage 2 (30 ) - 65 - - - 35 Transfers to stage 3 (1 ) - - - 328 - 327 Transfers to stage 3 - - (11 ) - 567 - 556 Transfers to stage 1 1 - (7 ) - - - (6 ) Transfers to stage 2 - - - - - - - Transfers to stage 1 - - - - (1 ) - (1 ) Net changes on financial assets 136 683 3 (37 ) 54 (77 ) 762 Write-off - - - - - - - Foreign Exchange adjustments and others (32 ) (1,874 ) (10 ) 22 24 166 (1,704 ) At December 31, 2018 1,701 15,070 259 172 3,856 3,271 24,329 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities [Abstract] | |
Schedule of other liabilities | The other liabilities line item is as follows: As of December 31, 2019 2018 MCh$ MCh$ Accounts and notes payable 214,216 163,216 Income received in advance 640 673 Adjustment due to macro-hedging valuation - 7,039 Guarantees received (margin accounts) (1) 994,714 540,091 Notes payable through brokerage and simultaneous transactions (3) 1,418,340 50,807 Other payable obligations (2) 61,555 94,779 Withholding VAT 8,147 1,990 Accounts payable insurance companies 9,510 8,424 Other liabilities 99,203 33,388 Total 2,806,325 900,407 (1) Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. (2) Other payable obligations mainly relate to settlement of derivatives and other financial transactions derived from the operation of the Bank. (3) In December 2019, Santander Corredora de Bolsa acted as an intermediary in the public offering of shares held between Latam and Delta, which was passed to the shareholders on January 3, 2019. |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Contingencies and Commitments [Abstract] | |
Schedule of contractual obligations | The following table shows the Bank's contractual obligations to issue loans: As of December 31, 2019 2018 MCh$ MCh$ Letters of credit issued 140,572 223,420 Foreign letters of credit confirmed 70,192 57,038 Performance guarantee 1,929,894 1,954,205 Personal guarantees 451,950 133,623 Total contingent liabilities 2,592,608 2,368,286 Available on demand credit lines 8,732,422 8,997,650 Other irrevocable credit commitments 485,991 327,297 Total loan commitment 9,218,413 9,324,947 Total 11,811,021 11,693,233 |
Schedule of held securities | The Bank holds securities in the normal course of its business as follows: As of December 31, 2019 2018 MCh$ MCh$ Third party operations Collections 90,966 99,784 Transferred financial assets managed by the Bank 21,507 26,262 Assets from third parties managed by the Bank and its affiliates 1,592,845 1,630,431 Subtotal 1,705,318 1,756,477 Custody of securities Securities held in custody 9,731,894 11,160,488 Securities held in custody deposited in other entity 1,206,541 861,405 Issued securities held in custody 21,636,819 12,335,871 Subtotal 32,575,254 24,357,764 Total 34,280,572 26,114,241 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
EQUITY | |
Schedule of activity shares | The activity with respect to shares during 2019, 2018 and 2017 was as follows: SHARES As of December 31, 2019 2018 2017 Issued as of January 1 188,446,126,794 188,446,126,794 188,446,126,794 Issuance of paid shares - - - Issuance of outstanding shares - - - Stock options exercised - - - Issued as of December 31, 188,446,126,794 188,446,126,794 188,446,126,794 |
Schedule of shareholder composition | As of December 31, 2019 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 24,822,041,271 24,822,041,271 13.17 Banks on behalf of third parties 15,957,137,883 - 15,957,137,883 8.47 Pension funds (AFP) on behalf of third parties 9,995,705,956 - 9,995,705,956 5.30 Stock brokers on behalf of third parties 5,551,024,270 - 5,551,024,270 2.95 Other minority holders 5,527,216,146 - 5,527,216,146 2.93 Total 163,624,085,523 24,822,041,271 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2018 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 26,486,000,071 26,486,000,071 14.05 Banks on behalf of third parties 15,451,106,985 - 15,451,106,985 8.20 Pension funds (AFP) on behalf of third parties 9,033,172,896 - 9,033,172,896 4.79 Stock brokers on behalf of third parties 4,773,558,507 - 4,773,558,507 2.53 Other minority holders 6,109,287,067 - 6,109,287,067 3.25 Total 161,960,126,723 26,486,000,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2017 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 31,238,866,071 31,238,866,071 16.58 Banks on behalf of third parties 13,892,691,988 - 13,892,691,988 7.37 Pension funds (AFP) on behalf of third parties 6,896,552,755 - 6,896,552,755 3.66 Stock brokers on behalf of third parties 3,762,310,365 - 3,762,310,365 2.00 Other minority holders 6,062,704,347 - 6,062,704,347 3.21 Total 157,207,260,723 31,238,866,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. |
Schedule of basic and diluted earnings per share | As of December 31, 2019, 2018 and 2017 the basic and diluted earnings per share were as follows: As of December 31, 2019 2018 2017 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the shareholders of the Bank 619,091 595,333 562,801 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 3.285 3.159 2.986 Basic earnings per share from continuing operations (in Ch$) 3.276 3.139 2.972 Basic earnings per share from discontinued operations (in Ch$) 0.009 0.020 0.015 b) Diluted earnings per share Total attributable to the shareholders of the Bank 619,091 595,333 562,801 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 3.285 3.159 2.987 Diluted earnings per share from continuing operations (in Ch$) 3.276 3.139 2.972 Diluted earnings per share from discontinued operations (in Ch$) 0.009 0.020 0.015 |
Schedule of other comprehensive income from available for sale investments and cash flow hedges | Other comprehensive income from available for sale investments and cash flow hedges: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Debt instruments at FVOCI As of January 1, 6,962 1,855 - Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax (17,775 ) 6,609 - Recycling from other comprehensive income to income for the year 39,997 (1,502 ) - Available for sale investments As of January 1, - - 7,375 Gain (losses) on the re-measurement of available for sale investments, before tax - - (10,384 ) Recycling from other comprehensive income to income for the year - - 4,864 Subtotals 22,222 5,107 (5,520 ) Total 29,184 6,962 1,855 Cash flow hedges As of January 1, 9,803 (3,562 ) 2,288 Gains (losses) on the re-measurement of cash flow hedges, before tax (49,163 ) 14,048 (5,850 ) Recycling adjustments on cash flow hedges, before tax (1,075 ) (683 ) - Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction - - - Subtotals (50,238 ) 13,365 (5,850 ) Total (40,435 ) 9,803 (3,562 ) Other comprehensive income, before taxes (11,251 ) 16,765 (1,707 ) Income tax related to other comprehensive income components Income tax relating to debt instruments at FVOCI (7,756 ) (1,810 ) - Income tax relating to available for sale investments - (473 ) Income tax relating to cash flow hedges 10,918 (2,646 ) 908 Total 3,162 (4,456 ) 435 Other comprehensive income, net of tax (8,089 ) 12,309 (1,272 ) Attributable to: Shareholders of the Bank (8,856 ) 11,353 (2,312 ) Non-controlling interest 767 956 1,040 |
Non-controlling Interest (Table
Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Non-Controlling Interest [Abstract] | |
Schedule of non-controlling interest included in the equity and the income | The non-controlling interest included in the equity and the income from the subsidiaries is summarized as follows: Other comprehensive income As of December 31, 2019 Non- controlling Equity Income Debt instruments at FVOCI Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 178 6 1 - 1 7 Santander Corredores de Bolsa Limitada 49.41 22,301 625 (261 ) 71 (190 ) 435 Santander Asesorías Financieras Limitada(1) 0.97 498 9 - - - 9 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Klare Corredora de Seguros S.A. 49.90 3,782 (503 ) - - - (503 ) Santander Consumer Chile S.A. (2) 49.00 24,564 1,544 - - - 1,544 Subtotal 51,325 1,681 (260 ) 71 (189 ) 1,492 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100.00 3,777 1,031 - - - 1,031 Bansa Santander S.A. 100.00 20,051 (486 ) - - - (486 ) Multiplica Spa 100.00 4,480 (4 ) - - - (4 ) Subtotal 28,308 541 - - - 541 Total 79,633 2,222 (260 ) 71 (189 ) 2,033 (1) Ex Santander Agente de Valores Limitada (2) On November27, 2019, the Bank acquired the 51% of Santander Consumer S.A., the remaining 49% is accounted as non-controlling interest. Other comprehensive income As of December 31, 2018 Non-controlling Equity Income Debt instruments at FVOCI Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 172 4 (2 ) - (2 ) 2 Santander Corredores de Bolsa Limitada 49.41 21,673 755 (84 ) 2 (82 ) 673 Santander Agente de Valores Limitada 0.97 488 99 - - - 99 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Subtotal 22,335 858 (86 ) 2 (84 ) 774 Entities controlled through other considerations: Santander Gestión de Recaudación y 100.00 3,777 852 - - - 852 Bansa Santander S.A. 100.00 20,051 2,650 - - - 2,650 Subtotal 23,828 3,502 - - - 3,502 Total 46,163 4,360 (86 ) 2 (84 ) 4,276 Other comprehensive income As of December 31, 2017 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0.25 167 4 - - - 4 Santander Corredores de Bolsa Limitada 49.41 21,000 702 470 (134 ) 336 1,038 Santander Agente de Valores Limitada 0.97 389 132 - - - 132 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Subtotal 21,558 838 470 (134 ) 336 1,174 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100.00 2,925 741 - - - 741 Bansa Santander S.A. 100.00 17,401 10,869 - - - 10,869 Subtotals 20,326 11,610 - - - 11,610 Total 41,883 12,448 470 (134 ) 336 12,784 |
Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests | The overview of the financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests is as follows, which does not include consolidation or conforming accounting policy adjustments: As of December 31, 2019 2018 2017 Net Net Net Assets Liabilities Capital income Assets Liabilities Capital income Assets Liabilities Capital income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 82,918 12,372 68,159 2,387 77,764 9,595 66,374 1,795 76,177 9,803 64,937 1,437 Santander Corredores de Bolsa Limitada 1,479,974 1,434,843 43,866 1,265 102,228 57,999 42,691 1,538 88,711 45,855 41,424 1,432 Santander Asesorias Financieras Limitada(*) 51,505 51 50,481 973 50,552 71 40,177 10,304 44,910 4,732 26,569 13,609 Santander S.A. Sociedad Securitizadora 636 88 639 (91 ) 704 66 728 (90 ) 400 50 432 (82 ) Klare Corredora de Seguros S.A. 8,303 724 8,586 (1,007 ) - - - - - - - - Santander Consumer Chile S.A. 505,059 452,528 39,951 12,580 - - - - - - - - Santander Gestión de Recaudación y Cobranzas Ltda. 8,200 3,392 3,777 1,031 6,932 3,155 2,925 852 10,826 7,901 2,184 741 Bansa Santander S.A. 87,607 68,042 20,051 (486 ) 20,437 386 17,401 2,650 25,535 8,134 6,533 10,868 Multiplica Spa 4,480 4 4,480 (4 ) - - - - - - - - Total 2,228,682 1,972,044 239,990 16,648 258,617 71,272 170,296 17,049 246,559 76,475 142,079 28,005 |
Interest Income (Tables)
Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interest Income [Abstract] | |
Schedule of income from interest | For the years ended December 31, 2019, 2018 and 2017 the income from interest, was attributable to the following items: For the years ended December 31, 2019 2018 2017 Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 718 - - 718 903 - - 903 939 - - 939 Interbank loans 1,263 - - 1,263 897 - - 897 969 - - 969 Commercial loans 780,284 160,462 16,478 957,224 771,405 153,851 11,008 936,264 752,013 85,389 10,525 847,927 Mortgage loans 349,663 283,820 455 633,938 330,055 266,691 909 597,655 320,041 149,303 414 469,758 Consumer loans 593,705 384 8,107 602,196 579,929 439 6,166 586,534 612,932 363 4,738 618,033 Investment instruments 71,150 26,169 - 97,319 75,423 24,790 - 100,213 74,000 5,797 - 79,797 Other interest income 18,387 3,592 - 21,979 16,644 4,013 - 20,657 12,172 1,538 - 13,710 Interest income not including income from hedge accounting 1,815,170 474,427 25,040 2,314,637 1,775,256 449,784 18,083 2,243,123 1,773,066 242,390 15,677 2,031,133 |
Schedule of interest expense | For the years ended December 31, 2019, 2018 and 2017, the expense from interest expense, excluding expense from hedge accounting, is as follows: For the years ended December 31, 2019 2018 2017 Interest Inflation adjustments Total Interest Inflation adjustments Total Interest Inflation adjustments Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (14,018 ) (1,508 ) (15,526 ) (14,914 ) (1,371 ) (16,285 ) (13,851 ) (695 ) (14,546 ) Repurchase agreements (9,710 ) - (9,710 ) (6,439 ) - (6,439 ) (6,514 ) - (6,514 ) Time deposits and liabilities (335,307 ) (27,172 ) (362,479 ) (317,061 ) (35,284 ) (352,345 ) (341,821 ) (20,509 ) (362,330 ) Interbank loans (50,354 ) - (50,354 ) (39,971 ) - (39,971 ) (26,805 ) - (26,805 ) Issued debt instruments (250,512 ) (145,487 ) (395,999 ) (241,455 ) (133,227 ) (374,682 ) (220,027 ) (76,170 ) (296,197 ) Other financial liabilities (1,310 ) (33 ) (1,343 ) (2,698 ) (110 ) (2,808 ) (2,946 ) (303 ) (3,249 ) Lease contracts (2,965 ) - (2,965 ) - - - - - - Other interest expense (16,651 ) (11,300 ) (27,951 ) (6,929 ) (10,497 ) (17,426 ) (5,236 ) (4,973 ) (10,209 ) Interest expense not including expenses from hedge accounting (680,827 ) (185,500 ) (866,327 ) (629,467 ) (180,489 ) (809,956 ) (617,200 ) (102,650 ) (719,850 ) |
Schedule of income and expense from interest | For the years ended December 31, 2019, 2018 and 2017, the income and expense from interest is as follows: For the years ended December 31, 2019 2018 2017 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,314,637 2,243,123 2,031,133 Interest expense not including expense from hedge accounting (866,327 ) (809,956 ) (719,850 ) Net Interest income (expense) from hedge accounting 1,448,310 1,433,167 1,311,283 Hedge accounting (net) (31,346 ) (18,799 ) 15,408 Total net interest income 1,416,964 1,414,368 1,326,691 |
Fees and Commissions (Tables)
Fees and Commissions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fees and Commissions [Abstract] | |
Schedule of fees and commission | This item includes the amount of fees earned and paid during the year, except for those which are an integral part of the financial instrument's effective interest rate: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 10,315 6,624 7,413 Fees and commissions for guarantees and letters of credit 35,039 33,654 33,882 Fees and commissions for card services 225,702 218,903 201,791 Fees and commissions for management of accounts 35,949 33,865 31,901 Fees and commissions for collections and payments 33,355 40,077 44,312 Fees and commissions for intermediation and management of securities 10,154 10,147 10,090 Insurance brokerage fees 49,664 39,949 36,430 Office banking 13,655 15,921 15,669 Fees for other services rendered 47,331 45,633 43,123 Other fees earned 37,494 39,690 30,947 Total 498,658 484,463 455,558 For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (171,513 ) (163,794 ) (149,809 ) Fees and commissions for securities transactions (1,001 ) (936 ) (858 ) Office banking (1,860 ) (4,096 ) (15,283 ) Other fees (37,198 ) (24,752 ) (10,545 ) Total (211,572 ) (193,578 ) (176,495 ) Net fees and commissions income 287,086 290,885 279,063 |
Schedule of income and expences | The income and expenses for the commissions of the business segments are presented below and the calendar for the recognition of income from ordinary activities is opened. Segments Revenue recognition calendar for ordinary activities As of December 31, 2019 Individuals and PYMEs Companies and Institutions Global Investment Banking Others Total Transferred over time Transferred at a point in time Accrual model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 6,123 935 3,240 17 10,315 10,315 - - Commissions for guarantees and letters of credit 11,553 17,531 5,842 113 35,039 35,039 - - Commissions for card services 218,635 6,042 950 75 225,702 41,347 184,355 - Commissions for account management 32,608 2,515 823 3 35,949 35,949 - - Commissions for collections, collections and payments 36,129 2,185 464 (5,423 ) 33,355 - 12,854 20,501 Commissions for intermediation and management of values 3,219 245 8,301 (1,611 ) 10,154 - 10,154 - Remuneration for insurance commercialization 49,664 - - - 49,664 - - 49,664 Office banking 9,280 3,782 606 (13 ) 13,655 - 13,655 - Other remuneration for services rendered 42,499 3,748 839 245 47,331 - 47,331 - Other commissions earned 12,462 10,727 14,293 12 37,494 - 37,494 - Total 422,172 47,710 35,358 (6,582 ) 498,658 122,650 305,843 70,165 Commission expenses Remuneration for card operation (168,024 ) (3,475 ) (321 ) 307 (171,513 ) - (171,513 ) - Commissions per transaction with securities - - (33 ) (968 ) (1,001 ) - (1,001 ) - Office banking (1,186 ) (389 ) (282 ) (3 ) (1,860 ) - (1,860 ) - Other commissions (22,335 ) (5,134 ) (5,619 ) (4,110 ) (37,198 ) - (37,198 ) - Total (191,545 ) (8,998 ) (6,255 ) (4,774 ) (211,572 ) - (211,572 ) - Total Net commission income and expenses 230,627 38,712 29,103 (11,356 ) 287,086 122,650 94,271 70,165 The income and expenses for the commissions of the business segments are presented below and the calendar for the recognition of income from ordinary activities is opened. Segments Revenue recognition calendar for ordinary activities As of December 31, 2018 Individuals and PYMEs Companies and Institutions Global Investment Banking Others Total Transferred over time Transferred at a point in time Accrual model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 5,901 271 453 (1 ) 6,624 6,624 - - Commissions for guarantees and letters of credit 11,099 16,258 6,239 58 33,654 33,654 - - Commissions for card services 211,615 6,193 1,036 59 218,903 34,856 184,047 - Commissions for account management 30,386 2,678 799 2 33,865 33,865 - - Commissions for collections, collections and payments 66,780 1,693 458 (28,854 ) 40,077 - 15,719 24,358 Commissions for intermediation and management of values 4,050 134 7,221 (1,258 ) 10,147 - 10,147 - Remuneration for insurance commercialization - - - 39,949 39,949 - - 39,949 Office banking 11,420 3,893 608 - 15,921 - 15,921 - Other remuneration for services rendered 40,901 3,833 819 80 45,633 - 45,633 - Other commissions earned 6,908 9,743 23,320 (281 ) 39,690 - 39,690 - Total 389,060 44,696 40,953 9,754 484,463 108,999 311,157 64,307 Commission expenses Remuneration for card operation (159,817 ) (3,186 ) (134 ) (657 ) (163,794 ) - (163,794 ) - Commissions per transaction with securities (169 ) (3 ) (419 ) (345 ) (936 ) - (936 ) - Office banking (2,374 ) (985 ) (722 ) (15 ) (4,096 ) - (4,096 ) - Other commissions (6,168 ) (3,776 ) (4,614 ) (10,194 ) (24,752 ) - (24,752 ) - Total (168,528 ) (7,950 ) (5,889 ) (11,211 ) (193,578 ) - (193,578 ) - Total Net commission income and expenses 220,532 36,746 35,064 (1,457 ) 290,885 108,999 117,579 64,307 |
Net Income (Expense) From Fin_2
Net Income (Expense) From Financial Operations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net Income (Expense) from Financial Operations [Abstract] | |
Schedule of income (expense) from financial operations | In accordance with the IFRS 9 and IFRS 7 disclosure, the detail of income (expense) from financial operations is as follows: For the years ended December 31, 2019 2018 MCh$ MCh$ Net gains on trading derivatives (162,183 ) 38,217 Net gains on financial assets at fair value through profit or loss 11,878 9,393 Net gains on derecognition of financial assets measured at amortised cost 63,672 8,479 Sale of loans and accounts receivables from customers Current portfolio 63 (309 ) Charged-off portfolio 3,248 709 Repurchase of issued bonds (*) 3,265 (840 ) Other income (expense) from financial operations 1,892 (2,475 ) Total income (expense) (78,165 ) 53,174 (*) The disclosure for the year December 31, 2017, the detail of income (expense) from financial operations is as follows: For the years ended 2017 MCh$ Income (expense) from financial operations Trading derivatives (18,974 ) Trading investments 10,008 Sale of loans and accounts receivables from customers Current portfolio 3,020 Charged-off portfolio 3,020 Available for sale investments 8,956 Repurchase of issued bonds (742 ) Other income (expense) from financial operations (2,492 ) Total income (expense) 2,796 |
Net Foreign Exchange Gain (Lo_2
Net Foreign Exchange Gain (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net Foreign Exchange Gain (Loss) [Abstract] | |
Schedule of net foreign exchange income | For the years ended December 31, 2019, 2018 and 2017 net foreign exchange income is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences (89,893 ) (212,618 ) 113,115 Hedging derivatives 362,374 252,275 22,933 Income from assets indexed to foreign currency 7,376 12,251 (9,190 ) Income from liabilities indexed to foreign currency - - 98 Total 279,857 51,908 126,956 |
Expected Credit Losses Allowa_2
Expected Credit Losses Allowance (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Expected Credit Losses Allowance [Abstract] | |
Schedule of expected credit losses | As of December 31, 2019 and 2018, under the new credit risk model established by IFRS 9 the ECL allowance by stage recorded at income statements is as follows: For the year ended December 31, 2019 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans (3,002 ) (4,930 ) (10,469 ) (8,686 ) (79,501 ) (33,657 ) (140,245 ) Mortgage loans - (1,177 ) - (4,998 ) - (8,237 ) (14,412 ) Consumer loans - (8,875 ) - (15,280 ) - (145,328 ) (169,483 ) Contingent loans 45 589 10 24 152 188 1,008 Loans and account receivable at FVOCI 5 - - - - - 5 Debt at FVOCI - (184 ) - - - - (184 ) Total (2,952 ) (14,577 ) (10,459 ) (28,940 ) (79,349 ) (187,034 ) (323,311 ) For the year ended December 31, 2018 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 79 5,652 (2,891 ) (1,533 ) (96,131 ) (47,959 ) (142,783 ) Mortgage loans - 5,583 - 5,161 - 3,377 14,121 Consumer loans - 1,861 - 192 - (191,304 ) (189,251 ) Contingent loans (90 ) 1,214 11 (68 ) (225 ) (834 ) 8 Loans and account receivable at FVOCI 363 - 68 - - - 431 Debt at FVOCI - 66 - - - - 66 Total 352 14,376 (2,812 ) 3,752 (96,356 ) (236,720 ) (317,408 ) |
Schedule of significant loans | The detail of Charge-off of individually significant loans, is as follows: For the years 2017 MCh$ Charge-off of loans 51,978 Provision applied (36,279 ) Net charge offs of individually significant loans 15,699 |
Personnel Salaries and Expens_2
Personnel Salaries and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Personnel Salaries and Expenses [Abstract] | |
Schedule of personnel expenses | For the years ended December 31, 2019, 2018 and 2017, the composition of personnel salaries and expenses is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Personnel compensation 260,445 259,354 250,962 Bonuses or gratifications 78,534 72,728 75,181 Stock-based benefits (315 ) (337 ) 2,752 Seniority compensation 25,006 21,869 26,120 Pension plans 566 1,069 2,039 Training expenses 4,918 3,782 2,867 Day care and kindergarten 2,731 2,778 2,505 Health funds - - 4,748 Welfare funds 6,644 6,040 896 Other personnel expenses 31,628 30,281 28,897 Total 410,157 397,564 396,967 |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Administrative Expenses [Abstract] | |
Schedule of administrative expenses | For the years ended December 31, 2019, 2018 and 2017, the composition of the item is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ General administrative expenses 124,896 145,241 139,418 Maintenance and repair of property, plant and equipment 19,214 20,962 21,359 Office lease - 29,761 26,136 Equipment lease - 55 96 Short term leases contracts 4,177 - - Insurance payments 3,848 3,439 3,354 Office supplies 5,126 5,070 6,862 IT and communication expenses 52,017 44,209 39,103 Heating, and other utilities 2,848 4,849 5,468 Security and valuables transport services 12,187 12,168 12,181 Representation and personnel travel expenses 4,109 3,444 4,262 Judicial and notarial expenses 1,277 1,148 974 Fees for technical reports and auditing 7,643 10,020 9,379 Other general administrative expenses 12,450 10,116 10,244 Outsourced services 71,572 65,358 57,400 Data processing 31,921 32,360 34,880 Archive services 3,518 3,401 3,324 Valuation services 3,644 3,167 2,419 Outsourcing 10,139 9,936 6,878 Other 22,350 16,494 9,899 Board expenses 1,356 1,297 1,290 Marketing expenses 20,891 19,286 18,877 Taxes, payroll taxes, and contributions 14,897 13,907 13,118 Real estate taxes 1,954 1,730 1,443 Patents 1,913 1,896 1,646 Other taxes 5 7 24 Contributions to CMF (former SBIF) 11,025 10,274 10,005 Total 233,612 245,089 230,103 |
Depreciation, Amortization, a_2
Depreciation, Amortization, and Impairment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Depreciation, Amortization, and Impairment [Abstract] | |
Schedule of depreciation, amortization and impairment charges | Depreciation, amortization and impairment charges for the years ended December 31, 2019, 2018 and 2017, are detailed below: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (52,855 ) (54,987 ) (55,623 ) Amortization of Intangible assets (26,348 ) (24,293 ) (22,200 ) Depreciation right of use assets (26,889 ) - - Total depreciation and amortization (106,092 ) (79,280 ) (77,823 ) Impairment of property, plant, and equipment (1,013 ) (39 ) (354 ) Impairment of right of use assets (1,713 ) - - Impairment of intangibles - - (5,290 ) Total impairment (2,726 ) (39 ) (5,644 ) Total (108,818 ) (79,319 ) (83,467 ) |
Other Operating Income and Ex_2
Other Operating Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Income and Expenses [Abstract] | |
Schedule of other operating income | Other operating income is comprised of the following components: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 5,613 7,106 3,330 Release of contingencies provisions (1) - 12,020 29,903 Other income 7,388 4,003 28,783 Leases 222 264 Income from sale of property, plant and equipment (2) 2,456 2,490 23,229 Recovery of provisions for contingencies - - - Compensation from insurance companies due to damages 4,681 144 1,237 Other 251 1,147 4,053 Total 13,001 23,129 62,016 (1) In accordance with IAS 37, the Bank recorded contingencies provisions, which during 2018 were favorable to the Bank. (2) Corresponds to legal cession of rights made by Bansa Santander S.A. which result in an income of Ch$2,122 million, as of December 31, 2018. See Note N°26. |
Schedule of other operating expenses | Other operating expenses are detailed as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment 3,900 2,537 5,591 Provision on assets received in lieu of payment 1,828 816 3,912 Expenses for maintenance of assets received in lieu of payment 2,072 1,721 1,679 Credit card expenses 1,077 3,151 3,070 Customer services 2,456 3,635 2,563 Other expenses 41,870 23,019 57,189 Operating charge-offs 973 798 1,607 Life insurance and general product insurance policies 21,205 9,964 23,475 Sale of property plant and equipment 67 62 - Additional tax on expenses paid overseas - - - Provisions for contingencies 120 21 - Retail association payment 343 898 912 Expense on sale of participation on associates 126 - - Expense on social commotion event 1,823 - - Other 17,213 11,276 31,195 Total 49,303 32,342 68,413 |
Transactions with Related Par_2
Transactions with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Transactions with Related Parties [Abstract] | |
Schedule of loans and accounts receivable as well as contingent loans that correspond to related entities | Below are loans and accounts receivable as well as contingent loans that correspond to related entities: As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 246,868 375 2,986 685 122,289 459 4,299 233 80,076 771 3,947 7,793 Mortgage loans - - 20,473 - - - 18,814 - - - 18,796 - Consumer loans - - 5,781 - - - 5,335 - - - 4,310 - Loans and accounts receivable: 246,868 375 29,240 685 122,289 459 28,448 233 80,076 771 27,053 7,793 Allowance for loan losses (122 ) (182 ) (179 ) (10 ) (308 ) (9 ) (116 ) (5 ) (209 ) (9 ) (177 ) (18 ) Net loans 246,746 193 29,061 675 121,981 450 28,332 228 79,867 762 26,876 7,775 Guarantees 462,513 - 23,918 288 442,854 - 22,893 7,171 361,452 - 23,868 7,164 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 4,112 - - 63 5,392 - 2,060 44 19,251 - - 33 Guarantees 464,691 - - - 445,064 - 3,364 - 377,578 - - - Contingent loans: 468,803 - - 63 450,456 - 5,424 44 396,829 - - 33 Allowance for contingent loans (835 ) - - - (1 ) - (18 ) - (4 ) - - 1 Net contingent loans 467,968 - - 63 450,455 - 5,406 44 396,825 - - 34 |
Schedule of loan activity to related parties | Loan activity to related parties during 2019, 2018 and 2017 is shown below: As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 572,745 459 33,871 7,899 476,906 771 27,051 7,826 546,058 532 26,423 7,100 Loans granted 193,798 167 4,826 500 200,657 39 16,574 773 78,214 318 7,777 1,050 Loans payments (50,646 ) (251 ) (9,457 ) (7,651 ) (104,818 ) (351 ) (9,754 ) (700 ) (147,366 ) (79 ) (7,149 ) (324 ) Total 715,897 375 29,240 748 572,745 459 33,871 7,899 476,906 771 27,051 7,826 |
Schedule of assets and liabilities with related parties | Assets and liabilities with related parties As of December 31, 2019 2018 2017 Companies of Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 171,816 - - - 189,803 - - - 74,949 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - - Financial derivative contracts 2,058,715 218,610 - 55 748,632 105,358 - 9 545,028 86,011 - - Available for sale investments - - - - - - - - - - - - Other assets 185,317 210,579 - - 38,960 51,842 - - 8,480 118,136 - - Liabilities Deposits and other demand liabilities 25,261 93,761 4,624 566 27,515 21,577 2,493 480 24,776 25,805 2,470 221 Obligations under repurchase agreements Loans 138,498 5,000 270 80 6,501 - 329 68 50,945 - - - Time deposits and other time liabilities 1,183,235 282,171 4,246 2,204 2,585,337 - 3,189 838 785,988 27,968 3,703 3,504 Financial derivative contracts 2,159,660 288,013 - 3 770,624 112,523 - - 418,647 142,750 - 7,190 Interbank borrowing - - - - - - - - - - - - Issued debt instruments 363,154 - - - 335,443 - - - 482,626 - - - Other financial liabilities 6,231 - - - 6,807 - - - 4,919 - - - Other liabilities 8,130 146,164 - - 60,884 89,817 - - 164,303 58,168 - - |
Schedule of income (expense) recorded due to transactions with related parties | c) Income (expense) recorded due to transactions with related parties For the years ended December 31, 2019 2018 2017 Companies Associated Key Other Companies of Associated Key Other Companies of Associated Key Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (41,181 ) (5,235 ) 1,151 26 (53,256 ) (156 ) 1,252 508 (43,892 ) - 1,051 - Fee and commission income and expenses 28,274 14,499 232 28 91,178 7,826 305 22 72,273 15,404 224 1 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) (586,318 ) (84,236 ) - - (566,677 ) 65,727 27 (12 ) 363,108 (48,453 ) (3 ) 19 Other operating income and expenses 406 (2,026 ) - - 42 1,388 - - 21,670 (1,454 ) - - Key personnel compensation and expenses - - (37,377 ) - - - (40,683 ) - - - (43,037 ) - Administrative and other expenses (11,877 ) (47,757 ) - - (43,035 ) (50,764 ) - - (48,246 ) (47,220 ) - - Total (610,696 ) (124,755 ) (35,994 ) 54 (571,748 ) 24,021 (39,099 ) 518 364,913 (81,723 ) (41,765 ) 20 (*) Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries, |
Schedule of payments to Board members and key management personnel | The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the "Personnel salaries and expenses" and/or "Administrative expenses" items of the Consolidated Statements of Income, corresponds to the following categories: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Personnel compensation 16,264 16,924 16,863 Board members' salaries and expenses 1,358 1,230 1,199 Bonuses or gratifications 16,104 16,243 16,057 Stock-based benefits (315 ) (337 ) 1,923 Seniority compensation 2,378 4,202 3,842 Pension plans 566 1,069 2,039 Training expenses 37 210 68 Health funds 273 284 273 Other personnel expenses 712 858 773 Total 37,377 40,683 43,037 (*) Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions. |
Schedule of composition of key personnel | As of December 31, 2019, 2018 and 2017, the composition of the Bank's key personnel is as follows: N° of executives Position As of December 31, 2019 2018 2017 Director 10 11 11 Division manager 12 12 13 Manager 106 108 109 Total key personnel 128 131 133 |
Pension Plans (Tables)
Pension Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Pension Plans [Abstract] | |
Schedule of actuarial hypothesis assumptions | The most significant actuarial hypotheses considered in the calculations were: Plans Plans 2019 2018 Mortality chart RV-2014 RV-2014 Termination of contract rates 5,0% 5,0% Impairment chart PDT 1985 PDT 1985 |
Schedule of post-employment benefits | Activity for post-employment benefits is as follows: As of December 31, 2019 2018 MCh$ MCh$ Plan assets 7,195 6,804 Commitments for defined-benefit plans For active personnel (6,525 ) (5,958 ) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 670 846 |
Schedule of cash flow for post-employment benefits | Year's cash flow for post-employment benefits is as follows: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 6,804 7,919 6,612 Expected yield of insurance contracts 333 353 307 Employer contributions 859 836 1,931 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (801 ) (2,304 ) (931 ) Fair value of plan assets at year end 7,195 6,804 7,919 b) Present value of obligations Present value of obligations opening balance (5,958 ) (6,998 ) (4,975 ) Net incorporation of Group companies - - - Service cost (567 ) (1,069 ) (2,039 ) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other - 2,109 16 Present value of obligations at year end (6,525 ) (5,958 ) (6,998 ) Net balance at year end 670 846 921 |
Schedule of plan expected profit | Plan expected profit: As of December 31, 2019 2018 2017 Type of expected yield from the plan's assets UF + 2,50% annual UF + 2,50% annual UF + 2,50% annual Type of yield expected from the reimbursement rights UF + 2,50% annual UF + 2,50% annual UF + 2,50% annual |
Schedule of plan associated expenses | Plan associated expenses: For the years ended December 31, 2019 2018 2017 MCh$ MCh$ MCh$ Current period service expenses 566 1,069 2,039 Interest cost - - - Expected yield from plan's assets (333 ) (353 ) (307 ) Expected yield of insurance contracts linked to the Plan: Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 233 716 1,732 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities [Abstract] | |
Schedule of financial assets and liabilities | Below is a comparison between the value at which the Bank's financial assets and liabilities are recorded and their fair value as of December 31, 2019 and 2018: As of December 31, 2019 2018 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Financial derivative contracts 8,148,608 8,148,608 3,100,635 3,100,635 Financial assets held for trading 270,204 270,204 77,041 77,041 Loans and accounts receivable at amortised cost, net 31,775,420 34,602,793 29,331,001 30,505,023 Loans and accounts receivable at FVOCI, net 66,065 66,065 68,588 68,588 Debt instrument at FVOCI 4,010,272 4,010,272 2,394,323 2,394,323 Guarantee deposits (margin accounts) 314,616 314,616 170,232 170,232 Liabilities Deposits and interbank borrowings 26,010,067 26,200,921 23,597,863 23,770,106 Financial derivative contracts 7,390,654 7,390,654 2,517,728 2,517,728 Issued debt instruments and other financial liabilities 9,727,081 10,718,997 8,330,633 8,605,135 Guarantees received (margin accounts) 994,714 994,714 371,512 371,512 |
Schedule of assets and liabilities on recurrent basis | The following table presents the assets and liabilities that are measured at fair value on a recurrent basis: Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 270,204 270,204 - - Loans and accounts receivable at FVOCI, net 66,065 - - 66,065 Debt instruments at FVOCI 4,010,272 3,992,421 17,146 705 Derivatives 8,148,608 - 8,133,700 14,908 Guarantee deposits (margin accounts) 314,616 - 314,616 - Total 12,809,765 4,262,625 8,465,462 81,678 Liabilities Derivatives 7,390,654 - 7,387,704 2,950 Guarantees received (margin accounts) 994,714 - 994,714 - Total 8,385,368 - 8,382,418 2,950 Fair value measurement As of December 31, 2018 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 77,041 71,158 5,883 - Loans and accounts receivable at FVOCI, net 68,588 - - 68,588 Debt instruments at FVOCI 2,394,323 2,368,768 24,920 635 Derivatives 3,100,635 - 3,089,077 11,558 Guarantee deposits (margin accounts) 170,232 - 170,232 - Total 5,810,819 2,439,926 3,290,112 80,781 Liabilities Derivatives 2,517,728 - 2,516,933 795 Guarantees received (margin accounts) 371,512 - 371,512 - Total 2,889,240 - 2,888,445 795 |
Schedule of assets or liabilities which are not measured at fair value | The following table presents assets or liabilities which are not measured at fair value in the statements of financial position but for which the fair value is disclosed: Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortised cost, net 34,602,793 - - 34,602,793 Total 34,602,793 - - 34,602,793 Liabilities Deposits and interbank borrowings 26,200,921 - 15,903,489 10,297,432 Issued debt instruments and other financial liabilities 10,718,997 - 10,718,997 - Total 36,919,918 - 26,622,486 10,297,432 Fair value measurement As of December 31, 2018 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortised cost, net 30,505,023 - - 30,505,023 Total 30,505,023 - - 30,505,023 Liabilities Deposits and interbank borrowings 23,770,106 - 15,028,689 8,741,417 Issued debt instruments and other financial liabilities 8,605,135 - 8,605,135 - Total 32,375,241 - 23,633,824 8,741,417 |
Schedule of financial instruments classified as Level 3 | The table below shows the effect, at December 31, 2019 and 2018, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by a sensitivity analysis under a 1bp scenario, detailed in the following table: As of December 31, 2019 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts Derivatives Present Value method Curves on TAB (1) (2,3) 2,3 Debt instruments at FVOCI Internal rate of return method BR UF (2) - - As of December 31, 2018 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts Derivatives Present Value method Curves on TAB (1) (1,3) 1,3 Available for sale investments Internal rate of return method BR UF (2) - - (1) TAB: "Tasa Activa Bancaria" (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). (2) BR: "Bonos de Reconocimiento" (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. |
Schedule of assets and liabilities measured at fair value on a recurrent basis using unobserved significant entries (Level 3) | The following table presents the Bank's activity for assets and liabilities measured at fair value on a recurrent basis using unobserved significant inputs (Level 3) as of December 31, 2019 and 2018: Assets Liabilities MCh$ MCh$ As of January 1, 2019 80,781 795 Total realized and unrealized profits (losses) Included in statements of income 827 2,155 Included in other comprehensive income 70 - Purchases, issuances, and loans (net) - - As of December 31, 2019 81,678 2,950 Total profits or losses included in comprehensive income for 2019 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2018 897 2,155 Assets Liabilities MCh$ MCh$ As of January 1, 2018 22,987 7 Total realized and unrealized profits (losses) Included in statements of income 57,769 (802 ) Included in other comprehensive income 25 - Purchases, issuances, and loans (net) - - As of December 31, 2018 80,781 (795 ) Total profits or losses included in comprehensive income for 2018 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2017 57,794 (802 ) |
Schedule of financial instruments subject to compensation | The following tables show the financial instruments subject to compensation in accordance with IAS 32, for 2019 and 2018: As of December 2019 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 8,148,151 - 8,148,151 457 8,148,608 Investments under resale agreements - - Loans and accounts receivable at amortised cost, net - 31,775,420 31,775,420 Loans and accounts receivable at FVOCI, net 66,065 - 66,065 66,065 Total 8,214,216 - 8,148,151 31,841,942 39,990,093 Liabilities Financial derivative contracts 7,388,145 - 7,388,145 2,509 7,390,654 Investments under resale agreements 380,055 - 380,055 - 380,055 Deposits and interbank borrowings - - - 26,010,067 26,010,067 Total 7,768,200 - 7,768,200 26,012,576 33,780,776 As of December 2018 Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount presented Remains of unrelated Amount in Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 1,947,726 - 1,947,726 1,152,909 3,100,635 Obligations under repurchase agreements - - - - - Loans and accounts receivable at amortised cost, net - - - 29,331,001 29,331,001 Loans and accounts receivable at FVOCI, net 68,588 - - 68,588 68,588 Total 2,016,314 - 1,947,726 30,552,498 32,500,224 Liabilities Financial derivative contracts 1,735,555 - 1,735,555 782,173 2,517,728 Investments under resale agreements 48,545 - 48,545 - 48,545 Deposits and interbank borrowings - - - 23,597,862 23,597,862 Total 1,784,100 - 1,784,100 24,380,035 26,164,135 |
Schedule of credit exposure in its financial derivative operations | The Bank, in order to reduce its credit exposure in its financial derivative operations, has entered into collateral contracts with its counterparties, in which it establishes the terms and conditions under which they operate. In terms collateral (received/delivered) operates when the net of the fair value of the financial instruments held exceed the thresholds defined in the respective contracts. As of December 31, 2019 As of December 31, 2018 Financial derivative contracts Assets Liability Assets Liability MM$ MM$ MM$ MM$ Financial derivative contracts with collateral agreement threshold equal to zero 7,478,837 6,748,219 2,639,835 2,133,149 Financial derivative contracts with non-zero threshold collateral agreement 532,298 517,814 344,520 262,683 Financial derivative contracts without collateral agreement 137,472 124,621 116,280 121,896 Total 8,148,607 7,390,654 3,100,635 2,517,728 |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Risk Management [Abstract] | |
Schedule of quality assets and its related provision | The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2019 and 2018: December 31, 2019 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage Portfolio MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 99,042 - - 99,042 0.30 % 2 - 2 0.00 % A2 907,659 37 - 907,696 2.78 % 443 - 443 0.05 % A3 2,418,990 61 - 2,419,051 7.41 % 2,617 - 2,617 0.29 % A4 3,262,671 7,184 - 3,269,855 10.01 % 4,399 22 4,421 0.49 % A5 2,188,717 22,163 - 2,210,880 6.77 % 7,618 515 8,133 0.91 % A6 1,086,401 47,157 487 1,134,045 3.47 % 6,461 1,410 208 8,079 0.90 % B1 - 603,201 - 603,201 1.85 % - 12,641 - 12,641 1.41 % B2 - 82,781 560 83,341 0.26 % - 3,773 205 3,978 0.44 % B3 - 85,034 817 85,851 0.26 % - 3,367 261 3,628 0.40 % B4 - 83,039 50,662 133,701 0.41 % - 4,085 21,910 25,995 2.90 % C1 - 45,433 113,004 158,437 0.48 % - 3,516 50,440 53,956 6.02 % C2 - 8,865 66,965 75,830 0.23 % - 614 28,504 29,118 3.25 % C3 - 15,762 32,839 48,601 0.15 % - 221 11,281 11,502 1.28 % C4 - 2,405 38,967 41,372 0.13 % - 170 20,039 20,209 2.26 % C5 - 847 44,057 44,904 0.14 % - 43 27,586 27,629 3.08 % C6 - 998 52,649 53,647 0.16 % - 12 35,732 35,744 3.99 % Subtotal 9,963,480 1,004,967 401,007 11,369,454 34.80 % 21,540 30,389 196,166 248,095 27.69 % Collectively assessed Stage 1 Stage 2 Stage 3 Total Group Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial 3,839,143 240,100 413,628 4,492,871 13.75 % 35,887 25,555 197,032 258,474 28.84 % Mortgage 10,275,966 457,948 529,081 11,262,995 34.47 % 8,446 14,509 78,104 101,059 11.28 % Consumer 4,963,047 292,718 290,430 5,546,195 16.98 % 67,396 50,808 170,263 288,467 32.19 % Subtotal 19,078,156 990,766 1,233,139 21,302,061 65.20 % 111,729 90,872 445,399 648,000 72.31 % Total 29,041,636 1,995,733 1,634,146 32,671,515 100.00 % 133,269 121,261 641,565 896,095 100.00 % December 31, 2018 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage Portfolio MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 29,998 - - 29,998 0,10 % 2 - - 2 0,00 % A2 1,074,789 - - 1,074,789 3,56 % 525 - - 525 0,06 % A3 2,699,684 309 - 2,699,993 8,94 % 2,526 - - 2,526 0,29 % A4 3,200,608 16,546 - 3,217,154 10,65 % 8,865 323 - 9,188 1,04 % A5 1,755,259 26,141 - 1,781,400 5,90 % 11,296 453 - 11,749 1,33 % A6 935,499 45,671 - 981,170 3,25 % 6,975 2,213 - 9,188 1,04 % B1 - 494,915 187 495,102 1,64 % - 14,107 79 14,186 1,61 % B2 - 81,955 156 82,111 0,27 % - 2,786 66 2,852 0,32 % B3 - 67,089 614 67,703 0,22 % - 3,841 233 4,074 0,46 % B4 - 47,653 45,480 93,133 0,31 % - 2,488 19,688 22,176 2,51 % C1 - 46,383 108,325 154,708 0,51 % - 2,548 48,147 50,695 5,75 % C2 - 15,678 39,246 54,924 0,18 % - 1,261 18,171 19,432 2,20 % C3 - 19,655 26,204 45,859 0,15 % - 733 10,803 11,536 1,31 % C4 - 3,560 32,445 36,005 0,12 % - 246 17,077 17,323 1,96 % C5 - 703 64,762 65,465 0,22 % - 32 40,541 40,573 4,60 % C6 - 1,525 69,511 71,036 0,22 % - 35 43,310 43,345 4,91 % Subtotal 9,695,837 867,783 386,930 10,950,550 36,24 % 30,189 31,066 198,115 259,370 29,39 % Collectively assessed Stage 1 Stage 2 Stage 3 Total Group Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial 3,616,969 232,472 386,154 4,235,595 14,02 % 43,541 24,574 179,317 247,432 28,04 % Mortgage 4,341,740 249,039 285,510 4,876,289 16,14 % 70,904 54,372 159,066 284,342 32,23 % Consumer 9,258,962 447,496 444,523 10,150,981 33,60 % 9,006 15,102 67,162 91,270 10,34 % Subtotal 17,217,671 929,007 1,116,187 19,262,865 63,76 % 123,451 94,048 405,545 623,044 70,61 % Total 26,913,508 1,796,790 1,503,117 30,213,415 100,00 % 153,640 125,114 603,660 882,414 100,00 % |
Schedule of mortage and other loan | 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days
Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured
marked for monitoring
Clients that are considered to be substandard or in incompliance (pre-legal action) Clients
that are considered to be substandard or in incompliance (pre-legal action) Clients
that are considered to be substandard or in incompliance (pre-legal action)" id="sjs-B5">Collectively assessed Individually assessed Mortgages Other loans Revolving Collectively Individually Middle market Corporate and 39.57 % 39.11 % 15.73 % 39.11 % 22.69% 4.5 % Santander Group criteria Qualitative criteria for SICR Stage 2: The qualitative criteria is based on the existence of evidence that leads to an automatic classification of financial instruments in stage 2, mainly 30 days overdue and restructured. Thresholds of SICR are calibrated based on the average ECL of exposures that are 30 days overdue or with a level of credit risk considered to be "significant". Collectively assessed Individually assessed Mortgages Other loans Revolving (Credit cards) Collectively Individually Middle market Corporate and Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Irregular portfolio > 30 days Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Restructured marked for monitoring Clients that are considered to be substandard or in incompliance (pre-legal action) Clients that are considered to be substandard or in incompliance (pre-legal action) Clients that are considered to be substandard or in incompliance (pre-legal action) |
Schedule of modified loans | As of December 31, 2019 As of December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,116 30,213,415 Modified loans - 512,529 611,316 1,123,845 - 582,513 815,094 1,397,607 % - 25.68 % 37.41 % 3.44 % - 32.42 % 54.23 % 4.63 % ECL allowance 133,269 121,261 641,565 896,095 153,640 125,114 603,660 882,414 Modified loans - 36,329 242,649 278,978 - 44,099 323,802 367,901 % - 29.96 % 37.82 % 31.13 % - 35.25 % 53.64 % 41.69 % |
Schedule of risk concentration | The following table shows the risk concentration by industry, and by stage before ECL allowance of loans and account receivable at amortised cost: December 31, 2019 December 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Commercial MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ loans Manufacturing 1,110,484 107,356 67,974 1,285,814 992,786 92,931 54,048 1,139,765 Mining 280,297 123,005 3,739 407,041 182,342 21,821 4,585 208,748 Electricity, gas, and water 309,941 22,907 8,196 341,044 384,288 22,365 2,279 408,932 Agriculture and livestock 1,020,857 172,984 93,440 1,287,281 934,199 166,271 100,781 1,201,251 Forest 132,483 17,035 15,689 165,207 120,371 9,402 14,115 143,888 Fishing 223,980 24,879 7,695 256,554 238,348 11,104 3,569 253,021 Transport 665,570 64,115 34,192 763,877 716,493 55,011 37,802 809,306 Communications 206,660 28,122 6,168 240,950 178,215 30,407 7,222 215,844 Construction (*) 782,265 85,435 106,568 974,268 723,600 88,691 93,747 906,038 Commerce 2,655,982 110,326 30,107 2,796,415 2,950,517 189,623 199,924 3,340,064 Services 2,971,563 190,097 204,472 3,366,132 1,771,595 81,159 12,915 1,865,669 Other 3,442,541 298,806 236,395 3,977,742 4,120,052 331,470 242,097 4,693,619 Subtotal 13,802,623 1,245,067 814,635 15,862,325 13,312,806 1,100,255 773,084 15,186,145 Mortgage loans 10,275,966 457,948 529,081 11,262,995 9,258,962 447,496 444,523 10,150,981 Consumer loans 4,963,047 292,718 290,430 5,546,195 4,341,740 249,039 285,510 4,876,289 Total 29,041,636 1,995,733 1,634,146 32,671,515 26,913,508 1,796,790 1,503,117 30,213,415 (*) In 2019 we improved the classification of our construction loans, reassigning loans for real state rental investment companies to services. |
Schedule of macro economical forward | The annual growth forecasts for the most relevant macroeconomic variables for each of our scenarios are as follows: Average estimates 2020 - 2021 Unfavorable scenario 2 Unfavorable scenario 1 Base scenario Favorable scenario 1 Favorable scenario 2 Official interest rate 0.25 % 0.50 % 1.59 % 3.20 % 4.42 % Unemployment rate 7.31 % 6.96 % 6.50 % 6.04 % 5.70 % Housing Price growth (1.70 )% 1,04 % 4.67 % 8.30 % 11.04 % GDP growth (1.16 )% 0.67 % 3.12 % 5.56 % 7.40 % Consumer Price Index (0.26 )% 1.07 % 2.82 % 4.57 % 5.90 % |
Schedule of probabilities | The probabilities for the scenarios must total 100% and be symmetrical. Local scenario Global scenario Probability weighting Probability weighting Favorable scenario 2 10 % Favorable scenario 1 30 % Favorable scenario 1 15 % Base scenario 40 % Base scenario 50 % Unfavorable scenario 1 30 % Unfavorable scenario 1 15 % Unfavorable scenario 2 10 % |
Schedule of allowance sensibility | The ECL allowance sensibility to future macro-economic conditions is as follows: December 31, December 21, MCh$ MCh$ Reported ECL allowance 896,095 882,414 Gross carrying amount 32,671,515 30,213,415 Reported ECL Coverage 2.74 % 2.92 % ECL amount by scenarios Favorable scenarios 2 797,501 745,089 Favorable scenarios 1 835,956 815,113 Base scenarios 884,480 879,358 Unfavorable scenarios 2 929,802 949,329 Unfavorable scenarios 2 962,437 970,563 Coverage ratio by scenarios Favorable scenarios 2 2.44 % 2.46 % Favorable scenarios 1 2.56 % 2.69 % Base scenarios 2.71 % 2.90 % Unfavorable scenarios 2 2.85 % 3.13 % Unfavorable scenarios 2 2.95 % 3.21 % |
Schedule of financial assets and associated collateral | The following table show the maximum exposure to credit risk by class of financial asset, associated collateral and the net exposure to credit risk: As of December 31, 2019 2018 Maximum Collateral Net Associated Maximum Collateral Net Associated MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 15,928,491 8,180,015 7,748,476 506,670 15,254,838 7,369,291 7,885,547 506,908 Mortgage loans 11,262,995 10,725,604 537,391 101,059 10,150,981 9,699,324 451,657 91,270 Consumer Loans 5,546,195 748,577 4,797,618 288,467 4,876,289 754,920 4,121,369 284,342 Total 32,737,681 19,654,196 13,083,485 896,196 30,282,108 17,823,535 12,458,537 882,520 (*) Includes Loans and account receivable at FVOCI |
Schedule of financial assets and off-balance sheet commitments | Below is the distribution by financial asset and off-balance sheet commitments of the Bank's maximum exposure to credit risk as of December 31, 2019 and 2018, without deduction of collateral, security interests or credit improvements received: As of December 31, 2019 2018 Amount of exposure Amount of exposure Note MCh$ MCh$ Deposits in banks 5 2,693,342 1,240,578 Cash items in process of collection 5 355,062 353,757 Financial derivative contracts 8 8,148,608 3,100,635 Financial assets held for trading 6 270,204 77,041 Loans and account receivable at amortised cost / Loans and account receivable at FVOCI 9 /10 31,841,485 29,399,589 Debt instrument at fair value through other comprehensive income 11 4,010,272 2,394,323 Off-balance commitments: Letters of credit issued 140,572 223,420 Foreign letters of credit confirmed 70,192 57,038 Performance guarantees 1,929,894 1,954,205 Available credit lines 8,732,422 8,997,650 Personal guarantees 451,950 133,623 Other irrevocable credit commitments 485,991 327,297 Total 59,129,994 48,345,002 |
Schedule of fair value of derivative instruments | Below, there are additional details regarding our exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1, Below we detail as of December 31, 2019, considering fair value of derivative instruments. Country Classification Derivative Instruments (adjusted to market) USD Deposits Loans USD Financial USD Total Exposure USD China 2 0.00 0.00 7.23 0.00 7.23 Colombia 2 1.24 0.00 0.00 0.00 1.24 Italy 2 0.00 1.36 0.32 0.00 1.68 Mexico 2 9.42 0.04 0.00 0.00 9.46 Panama 2 1.50 0.00 0.00 0.00 1.50 Peru 2 2.20 0.00 0.00 0.00 2.20 Uruguay 2 0.00 0.00 0.10 0.00 0.10 Total 14.36 1.40 7.65 0.00 23.41 Our exposure to the group is as follows: Counterpart Country Classification Derivative instruments MUSD Deposits MUSD Loans MUSD Financial Investments MUSD Exposure Exposure MUSD Banco Santander España (*) Spain 1 319.0 54.8 0.4 0.0 374.20 Santander UK UK 1 24.0 2.0 0.0 0.0 26.00 Banco Santander Mexico Mexico 2 9.4 0.0 0.0 0.0 9.4 Total 352.4 56.8 0.4 0.0 409.6 (*) The total amount of this exposure to derivative instruments must be compensated daily with collateral and, therefore, the net credit exposure is USD 0. |
Schedule of security interests, collateral, or credit improvements | Below is the detail of security interests, collateral, or credit improvements provided to the Bank as of December 31, 2019 and 2018, As of December 31, 2019 2018 MCh$ MCh$ Non-impaired financial assets: Properties/mortgages 23,371,510 22,047,354 Investments and others 2,785,219 2,200,776 Impaired financial assets: Properties/ mortgages 101,456 119,181 Investments and others 525 865 Total 26,258,710 24,368,176 |
Schedule of liquidity portfolio | The management of the Bank's liquidity portfolio is performed by the Financial Management Division under rules determined by the ALCO. As of December 31, 2019 2018 MCh$ MCh$ Financial investments for trading 270,204 77,041 Available for sale investments 4,010,272 2,394,323 Encumbered assets (net) (1) (380,055 ) (48,843 ) Net cash (2) 2,384,323 149,321 Net Interbank deposits (3) (281,620 ) 967,095 Total liquidity portfolio 6,013,124 3,538,937 (1) Assets encumbered through repurchase agreements are deduced from liquidity portfolio. (2) Cash minus reserve requirements. As is presented in Note 5 the reserve requirements are established by the monthly average reserves that the bank must maintain in accordance with regulation governing minimum reserves. (3) Includes overnight deposits in Central Bank, domestic banks and foreign banks. |
Schedule of exposure to liquidity risk | The following table displays the actual derived percentages as calculated per above: As of December 31, 2019 % 2018 % 30 days 63 (20 ) 30 days foreign currency - - 90 days 79 (37 ) |
Schedule of breakdown by maturity | Below, is the breakdown by maturity, of the liability balances of the Bank as of December 31, 2019 and 2018: Demand Up to 1 Between 1 and Between 3 and Subtotal up Between 1 Between 3 More than 5 Subtotal Total As of December 31, 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Obligations under repurchase agreements - 380,055 - - 380,055 - - - - 380,055 Checking accounts, time deposits and other time liabilities 10,439,705 5,184,567 4,905,414 2,417,703 22,947,389 357,856 163,121 21,883 542,860 23,490,249 Financial derivatives contracts - 422,749 427,825 951,684 1,802,258 1,253,280 1,180,948 3,154,168 5,588,396 7,390,654 Interbank borrowings 94 363,560 624,167 1,141,824 2,129,645 387,936 2,237 - 390,173 2,519,818 Issue debt instruments - 285,159 759,519 1,044,674 2,089,352 2,394,850 2,042,292 2,974,229 7,411,371 9,500,723 Lease liabilities - - - 26,061 26,061 45,978 36,393 50,062 132,433 158,494 Other financial liabilities 161,021 5,155 30,969 28,888 226,033 83 99 143 325 226,358 Subtotal 10,600,820 6,641,245 6,747,894 5,610,834 29,600,793 4,439,983 3,425,090 6,200,485 14,065,558 43,666,351 Contractual interest payments 10,473 148,731 267,994 1,727,401 2,154,599 1,720,990 1,653,500 3,101,084 6,475,574 8,630,173 Total 10,611,293 6,789,976 7,015,888 7,338,235 31,755,392 6,160,973 5,078,590 9,301,569 20,541,132 52,296,524 As of December 31, 2019, the scheduled maturities of other commercial commitments, including accrued interest, were as follows: Other Commercial Commitments Up to 1 Between 1 and Between 3 and Between 1 More than Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Performance guarantee 144,364 544,370 899,437 312,559 22,292 1,923,022 Confirmed foreign letters of credit 25,491 1,808 11,306 31,587 - 70,192 Letters of credit issued 30,555 348 33,439 70,924 - 135,266 Pledges and other commercial commitments 30,357 9,009 317,824 94,561 - 451,751 Total other commercial commitments 230,767 555,535 1,262,006 509,631 22,292 2,580,231 Demand Up to 1 Between 1 Between 3 Subtotal up Between 1 Between 3 More than Subtotal Total As of December 31, 2018 MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ Obligations under repurchase agreements - 48,545 - - 48,545 - - - - 48,545 Checking accounts, time deposits and other time liabilities 9,027,434 5,248,418 4,108,556 3,326,199 21,710,607 191,547 6,137 63,988 261,672 21,972,279 Financial derivatives contracts - 131,378 120,361 349,551 601,290 495,789 471,185 949,464 1,916,438 2,517,728 Interbank borrowings 39,378 16,310 404,575 1,188,692 1,648,955 139,671 - - 139,671 1,788,626 Issue debt instruments - 71,465 39,267 745,830 856,562 2,431,849 1,549,743 3,277,079 7,258,671 8,115,233 Other financial liabilities 179,681 934 2,412 22,844 205,871 9,261 92 176 9,529 215,400 Subtotal 9,246,493 5,517,050 4,675,171 5,633,116 25,071,830 3,268,117 2,027,157 4,290,707 9,585,981 34,657,811 Contractual interest payments 4,918 82,292 158,760 812,920 1,058,890 1,156,262 1,110,918 1,537,385 3,804,565 4,863,456 Total 9,251,411 5,599,342 4,833,931 6,446,036 26,130,720 4,424,379 3,138,075 5,828,092 13,390,546 39,521,266 As of December 31, 2018, the scheduled maturities of other commercial commitments, including accrued interest, were as follows: Other Commercial Commitments Up to 1 Between 1 and Between 3 and Between 1 and More than Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Performance guarantee 663,642 188,147 905,554 163,506 33,356 1,954,205 Confirmed foreign letters of credit 3,842 9,128 33,177 10,891 - 57,038 Letters of credit issued 12,469 110,970 54,015 45,937 29 223,420 Pledges and other commercial commitments 22,128 63,230 41,637 6,628 - 133,623 Total other commercial commitments 702,081 371,475 1,034,383 226,962 33,385 2,368,286 |
Schedule of high, low and average levels | High, low and average levels for each component and year were as follows: VaR 2019 2018 Consolidated: High 15.78 5.23 Low 1.33 1.21 Average 3.06 2.01 Fixed-income investments: High 9.77 2.54 Low 1.18 1.19 Average 2.33 1.71 Variable-income investments High - 0.01 Low 0.01 - Average - - Foreign currency investments High 6.05 4.29 Low 0.10 0.09 Average 1.60 1.14 |
Schedule of market risk | Market risk – Financial management portfolio – December 31, 2019 and 2018 2019 2018 Effect on Effect on Effect on Effect on Financial management portfolio – local currency (MCh$) Loss limit 100,000 275,000 48,000 192,001 High 32,719 273,473 43,742 189,725 Low 12,686 145,338 27,854 170,450 Average 24,719 228,772 37,569 180,972 Financial management portfolio – foreign currency (Th$US) Loss limit 30 75 30 75 High 20 35 12 38 Low 5 1 4 (10 ) Average 12 12 9 22 Financial management portfolio – consolidated (in MCh$) Loss limit 100,000 275,000 48,000 192,002 High 34,462 271,989 45,492 192,848 Low 15,236 143,836 29,167 168,766 Average 27,918 227,303 38,908 182,557 |
Schedule of levels of basic capital and effective net equity | The levels of basic capital and effective net equity at the close of each period are as follows: Ratio As of December 31, As of December 31, 2019 2018 2019 2018 MCh$ MCh$ % % Basic capital 3,390,823 3,239,546 6.96 7.72 Regulatory capital 4,304,401 4,101,664 12.86 13.40 |
Non Current Assets Held for S_2
Non Current Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Non Current Assets Held for Sale [Abstract] | |
Schedule of other assets as assets held for sale | The following investments in associates were classified to Other assets as assets held for sale: 2019 2018 2017 As of December 31, Participation Assets Income Income Income % MCh$ MCh$ MCh$ MCh$ Transbank 25.00 19,093 1,442 3,118 2,024 Nexus (*) 1.94 357 136 368 442 Redbanc 33.43 2,944 121 285 353 Total 22,394 1,699 3,771 2,819 (*) Remaining participation pending to sell at the end of the current year. See Note 40. |
Subsequent Events (Tables)
Subsequent Events (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Schedule of bond repurchases | The Bank has performed the following bond repurchases during 2020: Date UF Date Ch$ 01-02-2020 375.000 01-13-2020 50.000.000 01-14-2020 131.000 01-14-2020 9.820.000.000 01-21-2020 171.000 01-15-2020 400.000.000 01-21-2020 181.000 01-21-2020 330.000.000 01-24-2020 2.000 01-22-2020 11.430.000.000 02-17-2020 15,000 02-17-2020 2,000 02-18-2020 50,000 02-18-2020 4,000 02-20-2020 350,000 02-20-2020 115,000 02-21-2020 57,000 02-21-2020 24,000 02-24-2020 10,000 02-24-2020 250,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Santander Corredora de Seguros Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander Corredora de Seguros Limitada | |||
Main Activity | Insurance brokerage | |||
Country | Santiago, Chile | |||
Direct interest Owned | 99.75% | 99.75% | 99.75% | |
indirect interest Owned | 0.01% | 0.01% | 0.01% | |
Total interest Owned | 99.76% | 99.76% | 99.76% | |
Santander Corredores de Bolsa Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander Corredores de Bolsa Limitada | |||
Main Activity | Financial instruments brokerage | |||
Country | Santiago, Chile | |||
Direct interest Owned | 50.59% | 50.59% | 50.59% | |
indirect interest Owned | 0.41% | 0.41% | 0.41% | |
Total interest Owned | 51.00% | 51.00% | 51.00% | |
Santander Asesorias Financieras Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | [1] | Santander Asesorias Financieras Limitada | ||
Main Activity | [1] | Securities brokerage | ||
Country | [1] | Santiago, Chile | ||
Direct interest Owned | [1] | 99.03% | 99.03% | 99.03% |
indirect interest Owned | [1] | |||
Total interest Owned | [1] | 99.03% | 99.03% | 99.03% |
Santander S.A. Sociedad Securitizadora [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander S.A. Sociedad Securitizadora | |||
Main Activity | Purchase of credits and issuance of debt instruments | |||
Country | Santiago, Chile | |||
Direct interest Owned | 99.64% | 99.64% | 99.64% | |
indirect interest Owned | ||||
Total interest Owned | 99.64% | 99.64% | 99.64% | |
Klare Corredora de Seguros S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | [2] | Klare Corredora de Seguros S.A. | ||
Main Activity | [2] | Insurance brokerage | ||
Country | [2] | Santiago, Chile | ||
Direct interest Owned | [2] | 50.10% | ||
indirect interest Owned | [2] | |||
Total interest Owned | [2] | 50.10% | ||
Santander Consumer Chile S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | [3] | Santander Consumer Chile S.A. | ||
Main Activity | [3] | Financing | ||
Country | [3] | Santiago, Chile | ||
Direct interest Owned | [3] | 51.00% | ||
indirect interest Owned | [3] | |||
Total interest Owned | [3] | 51.00% | ||
[1] | On December 18, 2019, Santander Agente de Valores Limitada changes its business name and the conpany's object company's object, to Santander Asesorias Financieras Limitada, and offering financial advice. | |||
[2] | On October 19, 2019 Klare Corredora de Seguros S.A. was created as a digital insurance brokerage, and supporting banking business company and thus subject to banking regulations. The Banks owns the 50,10% of the company's capital share. | |||
[3] | On November 15, 2019, Commission for the Financial Market (FMC) authorized Banco Santander to acquire the 51% of the Santander Consumer Chile S.A. capital share from SK Berge (49%) and Banco Santander S.A. (2%). The sale was performed on November 27, 2019. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details 1) | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Redbanc S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | [1] | Redbanc S.A. | ||||
Main activity | [1] | ATM services | ||||
Place of incorporation and operation | [1] | Santiago, Chile | ||||
Percentage of ownership share | [2] | 33.43% | 33.43% | |||
Transbank S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | [1] | Transbank S.A. | ||||
Main activity | [1] | Debit and credit card services | ||||
Place of incorporation and operation | [1] | Santiago, Chile | ||||
Percentage of ownership share | [2] | 25.00% | 25.00% | |||
Centro de Compensación Automatizado [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | Centro de Compensaci?n Automatizado | |||||
Main activity | Electronic fund transfer and compensation services | |||||
Place of incorporation and operation | Santiago, Chile | |||||
Percentage of ownership share | 33.33% | 33.33% | 33.33% | |||
Sociedad Interbancaria de Deposito de Valores S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | Sociedad Interbancaria de Dep?sito de Valores S.A. | |||||
Main activity | Delivery of securities on public offer | |||||
Place of incorporation and operation | Santiago, Chile | |||||
Percentage of ownership share | 29.29% | 29.29% | 29.29% | |||
Camara de Compensacion de Alto Valor S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | C?mara Compensaci?n de Alto Valor S.A. | |||||
Main activity | Payments clearing | |||||
Place of incorporation and operation | Santiago, Chile | |||||
Percentage of ownership share | [3] | 15.00% | 15.00% | 15.00% | ||
Administrador Financiero del Transantiago S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | Administrador Financiero del Transantiago S.A. | |||||
Main activity | Administration of boarding passes to public transportation | |||||
Place of incorporation and operation | Santiago, Chile | |||||
Percentage of ownership share | 20.00% | 20.00% | 20.00% | |||
Sociedad Nexus S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | [1] | Sociedad Nexus S.A. | ||||
Main activity | [1] | Credit card processor | ||||
Place of incorporation and operation | [1] | Santiago, Chile | ||||
Percentage of ownership share | [2] | 12.90% | 12.90% | |||
Servicios de Infraestructura de Mercado OTC S.A. [Member] | ||||||
Disclosure of associates [line items] | ||||||
Associates | Servicios de Infraestructura de Mercado OTC S.A. | |||||
Main activity | Administration of the infrastructure for the financial market of derivative instruments | |||||
Place of incorporation and operation | Santiago, Chile | |||||
Percentage of ownership share | 12.07% | 12.48% | [4],[5] | 12.48% | [4],[5] | |
[1] | The Bank is in process to sell its share participation on Redbanc S.A., Transbank S.A. and Nexus S.A., therefore it has applied IFRS 5 Non-current Assets Held for Sale and Discontinued Operations over its participations share. As of December 31, 2019, the Bank has sold 85% of its share participation in Nexus S.A. See Note N39. | |||||
[2] | The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, therefore, the treatment established in IFRS 5 "Non-current assets held for sale and discontinued operations" has been applied, on the participation of said companies, which is described in Note 1 u) and Note 39. | |||||
[3] | In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA", the Banks share increased to 15.00%. | |||||
[4] | During 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Market infrastructure services OTC S,A". the Bank's share in those companies increased to 14.93% and 12.07% respectively. | |||||
[5] | During 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA'' and "Servicios de Infraestructura de Mercado OTC S,A", the Banks share in those companies increased to 14.84% and 11.93% respectively. |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details 2) | 12 Months Ended |
Dec. 31, 2019 | |
Land [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 0 months |
Paintings and works of art [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 0 months |
Carpets and curtains [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 36 months |
Computers and hardware [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 36 months |
Vehicles [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 36 months |
IT systems and software [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 36 months |
ATMs [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Other machines and equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Office furniture [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Telephone and communication systems [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Security systems [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Rights over telephone lines [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 60 months |
Air conditioning systems [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 84 months |
Other installations [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 120 months |
Buildings [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | 1200 months |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details 3) | 12 Months Ended |
Dec. 31, 2019 | |
Consumer loans with or without collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other transactions without collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 24 months |
Commercial loans with collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
Mortgage loans [Member] | |
Disclosure of financial assets [line items] | |
Term | 48 months |
Consumer leasing [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other non-mortgage leasing transactions [Member] | |
Disclosure of financial assets [line items] | |
Term | 12 months |
Mortgage leasing (household and business) [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details 4) | 12 Months Ended |
Dec. 31, 2019 | |
Consumer loans with or without collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other transactions without collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 24 months |
Commercial loans with collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
Mortgage loans [Member] | |
Disclosure of financial assets [line items] | |
Term | 48 months |
Consumer leasing [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other non-mortgage leasing transactions [Member] | |
Disclosure of financial assets [line items] | |
Term | 12 months |
Mortgage leasing (household and business) [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Details Textual) $ in Millions | 12 Months Ended | |
Dec. 31, 2019CLP ($)Segements | Dec. 31, 2018Segements | |
Summary of Significant Accounting Policies (Textual) | ||
Foreign exchange rate | 697.76 | 697.76 |
Average cost to sale of assets | 3.12% | 2.20% |
Percentage of net income | 0.30 | 0.30 |
Right-of-use assets | $ | $ 46,423 | |
Financial market commisssion , description | On November 15, 2019, Commission for the Financial Market (FMC) authorized Banco Santander to acquire the 51% of the Santander Consumer Chile S.A. capital share from SK Berge (49%) and Banco Santander S.A. (2%). The sale was performed on November 27, 2019. | |
Incremental interest rate | 1.70% | |
Transbank S.A. [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Proportion of ownership interest in subsidiary | 85.00% | |
CLF [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Foreign exchange rate | 28,309.94 | 27,565.79 |
Percenatge of inflation | 2.70% | 2.90% |
USD [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Foreign exchange rate | Segements | 1 | 1 |
Banco Santander Spain [Member] | Santander-Chile Bank [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Proportion of ownership interest in subsidiary | 67.18% | |
Banco Santander Spain [Member] | Teatinos Siglo XXi inversiones Ltda [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Banco Santander Spain [Member] | Banco Santander-Chile [Member] | ||
Summary of Significant Accounting Policies (Textual) | ||
Proportion of ownership interest in subsidiary | 99.50% |
Accounting Changes (Details)
Accounting Changes (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Right of use assets | $ 155,987 | |
Subtotals Assets | ||
Lease liability | 158,494 | |
Subtotals Liabilities | ||
Additions [Member] | ||
Disclosure of financial assets [line items] | ||
Right of use assets | 154,284 | |
Subtotals Assets | 154,284 | |
Lease liability | 154,284 | |
Subtotals Liabilities | $ 154,284 |
Accounting Changes (Details 1)
Accounting Changes (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | ||
Total financial assets measured at amortised cost | $ 31,775,420 | $ 29,331,001 |
Total financial assets measured at FVOCI | 4,010,272 | $ 2,394,323 |
IFRS 9 [Member] | ||
Disclosure of financial assets [line items] | ||
Total financial assets measured at amortised cost | 28,182,511 | |
Total financial assets measured at FVOCI | 2,683,176 | |
Total financial assets measured at FVTPL | 2,274,383 | |
IAS 39 [Member] | ||
Disclosure of financial assets [line items] | ||
Total financial assets measured at amortised cost | 28,387,679 | |
Total financial assets measured at FVOCI | 2,574,969 | |
Total financial assets measured at FVTPL | 2,724,383 | |
Remeasurement [Member] | ||
Disclosure of financial assets [line items] | ||
Total financial assets measured at amortised cost | (97,322) | |
Total financial assets measured at FVOCI | 361 | |
Reclassification [Member] | ||
Disclosure of financial assets [line items] | ||
Total financial assets measured at amortised cost | (107,846) | |
Total financial assets measured at FVOCI | 107,846 | |
Loans And Accounts Receivable From Customers [Member] | Fair Value Through Other Comprehensive Income [Member] | ||
Disclosure of financial assets [line items] | ||
Addition: from amortised cost (net of allowance) | 107,846 | |
Remeasurement: ECL Allowance | 291 | |
Remeasurement: from cost to FV | (236) | |
Subtraction to FVOCI (net of allowance) | 55 | |
Closing balance under IFRS 9 | 107,846 | |
Total financial assets measured at amortised cost | 107,901 | |
Available For Sale Investments [Member] | Fair Value Through Other Comprehensive Income [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 2,574,546 | |
Addition: from interbank loans | ||
Closing balance under IFRS 9 | 2,574,546 | |
Investment In Associate And Other Companies Stock Exchange [Member] | Fair Value Through Other Comprehensive Income [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 287 | |
Closing balance under IFRS 9 | 287 | |
Investment In Associate And Other Companies Bladex [Member] | Fair Value Through Other Comprehensive Income [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 136 | |
Remeasurement: from cost to FV | 306 | |
Subtraction to FVOCI (net of allowance) | 306 | |
Closing balance under IFRS 9 | 136 | |
Total financial assets measured at amortised cost | 442 | |
Derivatives Contracts [Member] | Financial assets at fair value through profit or loss, category [Member] | ||
Disclosure of financial assets [line items] | ||
Closing balance under IFRS 9 | 2,238,647 | |
Trading Investment [Member] | Financial assets at fair value through profit or loss, category [Member] | ||
Disclosure of financial assets [line items] | ||
Closing balance under IFRS 9 | 485,736 | |
Amortised Cost [Member] | Cash And Deposit In Banks [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 1,452,922 | |
Addition: from interbank loans | ||
Closing balance under IFRS 9 | 1,452,922 | |
Amortised Cost [Member] | Loans And Accounts Receivable From Customers [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 26,772,544 | |
Addition: from interbank loans | 162,213 | |
Remeasurement: ECL Allowance | (97,322) | |
Subtraction to FVOCI (net of allowance) | (107,846) | |
Closing balance under IFRS 9 | 26,729,589 | |
Amortised Cost [Member] | Interbank Loans Net [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance under IAS 39 | 162,213 | |
Remeasurement: ECL Allowance | (162,213) | |
Closing balance under IFRS 9 |
Accounting Changes (Details 2)
Accounting Changes (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | $ 31,775,420 | $ 29,331,001 | |
Total financial assets measured at FVOCI | 66,166 | 68,694 | $ 107,998 |
Total | 2,042 | 723 | |
Total contingents | 9,218,413 | 9,324,947 | |
IFRS 9 [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 888,091 | ||
Total financial assets measured at FVOCI | 97 | ||
Total contingents | 23,761 | ||
Total provision for loan losses | $ 911,949 | ||
IFRS 9 [Member] | Other Credit Related commitments [Member] | Loan Commitments [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | 19,124 | ||
IFRS 9 [Member] | Other Credit Related commitments [Member] | Contingent liabilities [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | 4,637 | ||
IFRS 9 [Member] | Available For Sale Investments [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 97 | ||
IFRS 9 [Member] | Amortised Cost [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 888,091 | ||
IFRS 9 [Member] | Amortised Cost [Member] | Interbank Loans Net [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | |||
IAS 39 [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 791,157 | ||
Total financial assets measured at FVOCI | |||
Total contingents | 8,404 | ||
Total provision for loan losses | 799,561 | ||
IAS 39 [Member] | Other Credit Related commitments [Member] | Loan Commitments [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | |||
IAS 39 [Member] | Other Credit Related commitments [Member] | Contingent liabilities [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | 8,404 | ||
IAS 39 [Member] | Available For Sale Investments [Member] | Investment Securities [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | |||
IAS 39 [Member] | Amortised Cost [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 790,685 | ||
IAS 39 [Member] | Amortised Cost [Member] | Interbank Loans Net [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 472 | ||
Reclassification [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | (388) | ||
Total financial assets measured at FVOCI | 388 | ||
Total contingents | |||
Total provision for loan losses | |||
Reclassification [Member] | Other Credit Related commitments [Member] | Loan Commitments [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | |||
Reclassification [Member] | Other Credit Related commitments [Member] | Contingent liabilities [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | |||
Reclassification [Member] | Available For Sale Investments [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 388 | ||
Reclassification [Member] | Amortised Cost [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 84 | ||
Reclassification [Member] | Amortised Cost [Member] | Interbank Loans Net [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | (472) | ||
Remeasurement [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 97,322 | ||
Total financial assets measured at FVOCI | (291) | ||
Total contingents | 15,357 | ||
Total provision for loan losses | 112,388 | ||
Remeasurement [Member] | Other Credit Related commitments [Member] | Loan Commitments [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | 19,124 | ||
Remeasurement [Member] | Other Credit Related commitments [Member] | Contingent liabilities [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total contingents | (3,767) | ||
Remeasurement [Member] | Available For Sale Investments [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | (291) | ||
Remeasurement [Member] | Amortised Cost [Member] | Loans And Accounts Receivable From Customers [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable | 97,322 | ||
Remeasurement [Member] | Amortised Cost [Member] | Interbank Loans Net [Member] | |||
Disclosure of effect of overlay approach reclassification on profit or loss [line items] | |||
Total loans and account receivable |
Accounting Changes (Details 3)
Accounting Changes (Details 3) $ in Millions | Jan. 02, 2018CLP ($) |
Disclosure of financial assets [line items] | |
Assets before allowances | $ 27,617,680 |
ECL allowance | 888,091 |
Net Assets | 26,729,589 |
Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 24,570,691 |
ECL allowance | 167,125 |
Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,565,462 |
ECL allowance | 126,107 |
Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,481,527 |
ECL allowance | 594,859 |
Commercial Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 13,963,093 |
ECL allowance | 482,713 |
Net Assets | 13,480,380 |
Commercial Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 12,401,069 |
ECL allowance | 79,811 |
Commercial Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 838,533 |
ECL allowance | 51,323 |
Commercial Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 723,491 |
ECL allowance | 351,579 |
Commercial Loans [Member] | Interbank Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 162,685 |
ECL allowance | 13 |
Net Assets | 162,672 |
Commercial Loans [Member] | Interbank Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 162,685 |
ECL allowance | 13 |
Commercial Loans [Member] | Interbank Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | |
ECL allowance | |
Commercial Loans [Member] | Interbank Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | |
ECL allowance | |
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 9,882,422 |
ECL allowance | 339,957 |
Net Assets | 9,542,465 |
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 8,743,179 |
ECL allowance | 56,546 |
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 595,436 |
ECL allowance | 36,541 |
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 543,807 |
ECL allowance | 246,870 |
Commercial Loans [Member] | Foreign Trade Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,574,513 |
ECL allowance | 39,212 |
Net Assets | 1,535,301 |
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,464,059 |
ECL allowance | 4,883 |
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 56,110 |
ECL allowance | 849 |
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 54,344 |
ECL allowance | 33,480 |
Commercial Loans [Member] | Checking Accounts Debtors [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 195,696 |
ECL allowance | 12,098 |
Net Assets | 183,598 |
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 173,738 |
ECL allowance | 2,302 |
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 8,005 |
ECL allowance | 411 |
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 13,953 |
ECL allowance | 9,385 |
Commercial Loans [Member] | Factoring Transactions [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 449,890 |
ECL allowance | 4,294 |
Net Assets | 445,596 |
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 441,014 |
ECL allowance | 837 |
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,035 |
ECL allowance | 91 |
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,841 |
ECL allowance | 3,366 |
Commercial Loans [Member] | Student Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 88,290 |
ECL allowance | 12,065 |
Net Assets | 76,225 |
Commercial Loans [Member] | Student Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 70,984 |
ECL allowance | 3,644 |
Commercial Loans [Member] | Student Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 7,402 |
ECL allowance | 2,329 |
Commercial Loans [Member] | Student Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 9,904 |
ECL allowance | 6,092 |
Commercial Loans [Member] | Leasing Transactions [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,457,004 |
ECL allowance | 46,334 |
Net Assets | 1,410,670 |
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,235,103 |
ECL allowance | 8,946 |
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 161,882 |
ECL allowance | 9,553 |
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 60,019 |
ECL allowance | 27,835 |
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 152,593 |
ECL allowance | 28,740 |
Net Assets | 123,853 |
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 110,307 |
ECL allowance | 2,640 |
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 5,663 |
ECL allowance | 1,549 |
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 36,623 |
ECL allowance | 24,551 |
Mortgages [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 9,096,895 |
ECL allowance | 108,019 |
Net Assets | 8,988,876 |
Mortgages [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 8,191,229 |
ECL allowance | 14,602 |
Mortgages [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 469,349 |
ECL allowance | 20,227 |
Mortgages [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 436,317 |
ECL allowance | 73,190 |
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 24,060 |
ECL allowance | 248 |
Net Assets | 23,812 |
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 21,529 |
ECL allowance | 25 |
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,230 |
ECL allowance | 51 |
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,301 |
ECL allowance | 172 |
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 115,078 |
ECL allowance | 871 |
Net Assets | 114,207 |
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 107,900 |
ECL allowance | 100 |
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 2,973 |
ECL allowance | 143 |
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,205 |
ECL allowance | 628 |
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 8,957,757 |
ECL allowance | 106,900 |
Net Assets | 8,850,857 |
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 8,061,800 |
ECL allowance | 14,477 |
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 465,146 |
ECL allowance | 20,033 |
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 430,811 |
ECL allowance | 72,390 |
Consumer Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,557,692 |
ECL allowance | 297,359 |
Net Assets | 4,260,333 |
Consumer Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 3,978,393 |
ECL allowance | 72,712 |
Consumer Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 257,580 |
ECL allowance | 54,557 |
Consumer Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 321,719 |
ECL allowance | 170,090 |
Consumer Loans [Member] | Leasing Transactions [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,715 |
ECL allowance | 1,110 |
Net Assets | 3,605 |
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,627 |
ECL allowance | 1,013 |
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 47 |
ECL allowance | 23 |
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 41 |
ECL allowance | 74 |
Consumer Loans [Member] | Installment Consumer Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 2,910,742 |
ECL allowance | 255,849 |
Net Assets | 2,654,893 |
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 2,378,614 |
ECL allowance | 51,172 |
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 234,044 |
ECL allowance | 46,866 |
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 298,084 |
ECL allowance | 157,811 |
Consumer Loans [Member] | Credit Card Balances [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,364,980 |
ECL allowance | 40,058 |
Net Assets | 1,324,922 |
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 1,324,742 |
ECL allowance | 20,443 |
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 20,916 |
ECL allowance | 7,633 |
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 19,322 |
ECL allowance | 11,982 |
Consumer Loans [Member] | Other Consumer Loans [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 277,255 |
ECL allowance | 342 |
Net Assets | 276,913 |
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 1 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 270,410 |
ECL allowance | 84 |
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 2 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 2,573 |
ECL allowance | 35 |
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 3 [Member] | |
Disclosure of financial assets [line items] | |
Assets before allowances | 4,272 |
ECL allowance | $ 223 |
Significant Events (Details)
Significant Events (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial liabilities [line items] | ||
Notional amount | $ 377,131,597 | $ 241,467,084 |
Bonds [Member] | EUR | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | $ 65,000,000 | |
Bonds [Member] | EUR | Senior Bonds EUR [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | EUR | |
Notional amount | $ 40,000,000 | |
Term (annual) | P7Y | |
Issuance rate (annual) | 1.09% | |
Issue date | Feb. 1, 2019 | |
Maturity date | Jul. 2, 2026 | |
Bonds [Member] | EUR | Senior Bonds EUR1 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | EUR | |
Notional amount | $ 25,000,000 | |
Term (annual) | P15Y | |
Issuance rate (annual) | 1.25% | |
Issue date | Nov. 26, 2019 | |
Maturity date | Jan. 3, 2022 | |
Bonds [Member] | AUD [Member] | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | $ 185,000,000 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 22,000,000 | |
Term (annual) | P15Y | |
Issuance rate (annual) | 3.66% | |
Issue date | May 13, 2019 | |
Maturity date | May 20, 2034 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD1 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 20,000,000 | |
Term (annual) | P5Y | |
Issuance rate (annual) | 1.13% | |
Issue date | Jul. 11, 2019 | |
Maturity date | Nov. 7, 2024 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD2 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 28,000,000 | |
Term (annual) | P5Y | |
Issuance rate (annual) | 1.13% | |
Issue date | Jul. 17, 2019 | |
Maturity date | Jul. 17, 2024 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD3 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 15,000,000 | |
Term (annual) | P5Y | |
Issuance rate (annual) | 1.13% | |
Issue date | Jul. 17, 2019 | |
Maturity date | Jul. 17, 2024 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD4 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 75,000,000 | |
Term (annual) | P20Y | |
Issuance rate (annual) | 3.05% | |
Issue date | Aug. 30, 2019 | |
Maturity date | Feb. 28, 2039 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD5 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 12,000,000 | |
Term (annual) | P15Y | |
Issuance rate (annual) | 3.16% | |
Issue date | Nov. 12, 2019 | |
Maturity date | Nov. 20, 2034 | |
Bonds [Member] | AUD [Member] | Senior Bonds AUD6 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | AUD | |
Notional amount | $ 13,000,000 | |
Term (annual) | P15Y | |
Issuance rate (annual) | 2.91% | |
Issue date | Nov. 21, 2019 | |
Maturity date | Nov. 27, 2034 | |
Bonds [Member] | CHF | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | $ 250,000,000 | |
Bonds [Member] | CHF | Senior Bonds CHF [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | CHF | |
Notional amount | $ 150,000,000 | |
Term (annual) | P5Y | |
Issuance rate (annual) | 3.80% | |
Issue date | Mar. 12, 2019 | |
Maturity date | Sep. 27, 2024 | |
Bonds [Member] | CHF | Senior Bonds CHF1 [Member] | ||
Disclosure of financial liabilities [line items] | ||
Currency | CHF | |
Notional amount | $ 100,000,000 | |
Term (annual) | P10Y | |
Issuance rate (annual) | 1.40% | |
Issue date | Aug. 29, 2019 | |
Maturity date | Aug. 29, 2029 |
Significant Events (Details 1)
Significant Events (Details 1) - Bonds [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Senior Bond 1 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 12, 2019 |
Amount | $ 10,000,000,000 |
Senior Bond 1 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 15, 2019 |
Amount | $ 156,000 |
Senior Bond 2 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 14, 2019 |
Amount | $ 30,000,000,000 |
Senior Bond 2 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 19, 2019 |
Amount | $ 418,000 |
Senior Bond 3 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 19, 2019 |
Amount | $ 4,200,000,000 |
Senior Bond 3 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 20, 2019 |
Amount | $ 154,000 |
Senior Bond 4 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 22, 2019 |
Amount | $ 14,240,000,000 |
Senior Bond 4 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 21, 2019 |
Amount | $ 100,000 |
Senior Bond 5 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 22, 2019 |
Amount | $ 30,000,000 |
Senior Bond 5 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 25, 2019 |
Amount | $ 100,000 |
Senior Bond 6 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Feb. 22, 2019 |
Amount | $ 10,000,000 |
Senior Bond 6 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 26, 2019 |
Amount | $ 90,000 |
Senior Bond 7 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 1, 2019 |
Amount | $ 11,800,000,000 |
Senior Bond 7 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Apr. 10, 2019 |
Amount | $ 409,000 |
Senior Bond 8 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 4, 2019 |
Amount | $ 40,080,000,000 |
Senior Bond 8 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Apr. 16, 2019 |
Amount | $ 55,000 |
Senior Bond 9 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 5, 2019 |
Amount | $ 20,000,000,000 |
Senior Bond 9 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | May 16, 2019 |
Amount | $ 9,000 |
Senior Bond 10 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Mar. 20, 2019 |
Amount | $ 6,710,000,000 |
Senior Bond 10 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Jun. 13, 2019 |
Amount | $ 1,000 |
Senior Bond 11 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Apr. 8, 2019 |
Amount | $ 3,950,000,000 |
Senior Bond 11 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Nov. 14, 2019 |
Amount | $ 2,977,000 |
Senior Bond 12 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Apr. 17, 2019 |
Amount | $ 130,000,000 |
Senior Bond 12 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Nov. 28, 2019 |
Amount | $ 340,000 |
Senior Bond 13 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Apr. 18, 2019 |
Amount | $ 330,000,000 |
Senior Bond 13 [Member] | Unidad De Fomento (funds code) [Member] | |
Disclosure of financial liabilities [line items] | |
Date | Dec. 2, 2019 |
Amount | $ 105,000 |
Senior Bond 14 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | May 16, 2019 |
Amount | $ 14,880,000,000 |
Senior Bond 15 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Oct. 1, 2019 |
Amount | $ 10,960,000,000 |
Senior Bond 16 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Oct. 2, 2019 |
Amount | $ 100,000,000 |
Senior Bond 17 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Oct. 4, 2019 |
Amount | $ 60,000,000 |
Senior Bond 18 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Nov. 5, 2019 |
Amount | $ 15,220,000,000 |
Senior Bond 19 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Nov. 7, 2019 |
Amount | $ 3,620,000,000 |
Senior Bond 20 [Member] | Chile, Pesos | |
Disclosure of financial liabilities [line items] | |
Date | Nov. 13, 2019 |
Amount | $ 5,320,000,000 |
Significant Events (Details Tex
Significant Events (Details Textual) - CLP ($) $ / shares in Units, $ in Millions | Aug. 12, 2019 | Nov. 27, 2019 | Sep. 26, 2019 | Aug. 27, 2019 | Jul. 30, 2019 | Apr. 23, 2019 | Mar. 26, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Significant Events (Textual) | |||||||||
Net profit | 60.00% | ||||||||
Shareholders dividend per share | $ 1.88457837 | ||||||||
Profits used to increase the banks reserves | 40.00% | ||||||||
Percentage of capital stock | 49.00% | ||||||||
Capital stock | $ 59,063,470,000 | ||||||||
Consideration acquisition shares issued, percentage | 51.00% | 51.00% | 51.00% | ||||||
Percentage of subscribed subsidiary | 50.10% | ||||||||
New subsidiaries, description | The Bank acquired 51% of Santander Consumer S.A., an automobile financing non-banking company, which became a subsidiary of the Bank and a supporting banking business company from SK Berge (49%) and Banco Santander S.A. (2%) for a total amount MCh$62,136. The purchase generated a negative equity effect of MCh$37,041, since it was considered a transaction between entities under common control, the Bank used “predecessor accounting method”. | ||||||||
Investment percentage | 12.90% | ||||||||
Description of social unrest | As of December 31, 2019, the Bank recorded an impairment for an amount of MCh$2,726 (see Note 33), and expenses for MCh$1,823 as other operational expenses (see Note 34). Most of this damage was insured. | ||||||||
AUD [Member] | |||||||||
Significant Events (Textual) | |||||||||
Bank has issued senior bonds | $ 185,000,000 | ||||||||
EUR [Member] | |||||||||
Significant Events (Textual) | |||||||||
Bank has issued senior bonds | 65,000,000 | ||||||||
CHF [Member] | |||||||||
Significant Events (Textual) | |||||||||
Bank has issued senior bonds | $ 250,000,000 |
Reporting Segments (Details)
Reporting Segments (Details) - CLP ($) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | $ 1,416,964 | $ 1,414,368 | $ 1,326,691 | |||||
Net fee and commission income | 498,658 | 484,463 | 455,558 | |||||
Expected credit losses | 323,311 | 317,408 | 302,255 | |||||
Other operating income | 13,001 | 23,129 | 62,016 | |||||
Income from investments in associates and other companies | 1,146 | 1,324 | 1,144 | |||||
Income tax expense | 175,074 | 167,144 | 145,031 | |||||
Net income for the year | 621,313 | 599,693 | 575,249 | |||||
Companies And Institutions [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net fee and commission income | 47,710 | 44,696 | ||||||
GlobalCorporateBanking1[Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net fee and commission income | 35,358 | 40,953 | ||||||
OthersSegmentMember | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net fee and commission income | 9,754 | |||||||
Retail Banking [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | 20,786,637 | [1] | 19,233,169 | [2] | $ 18,604,936 | [2] | ||
Net interest income | 949,764 | 970,332 | 931,105 | |||||
Net fee and commission income | 220,532 | 206,449 | 196,845 | |||||
Financial transactions, net | [3] | 19,694 | 20,595 | 21,141 | ||||
Expected credit losses | (279,969) | (293,956) | (323,888) | |||||
Support expenses | [4] | (553,157) | (534,970) | (529,909) | ||||
Segment`s net contribution | 349,094 | 368,450 | 295,294 | |||||
Middle Market [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | 7,690,380 | [1] | 6,775,734 | [2] | 6,396,376 | [2] | ||
Net interest income | 272,912 | 264,663 | 244,960 | |||||
Net fee and commission income | 36,746 | 36,280 | 30,851 | |||||
Financial transactions, net | [3] | 16,848 | 13,751 | 19,577 | ||||
Expected credit losses | (38,746) | (19,235) | (26,748) | |||||
Support expenses | [4] | (92,377) | (91,882) | (83,412) | ||||
Segment`s net contribution | 207,815 | 203,577 | 185,228 | |||||
Global Corporate Banking [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | 1,613,088 | [1] | 1,633,796 | [2] | 2,121,513 | [2] | ||
Net interest income | 96,722 | 100,808 | 95,105 | |||||
Net fee and commission income | 35,064 | 27,626 | 25,077 | |||||
Financial transactions, net | [3] | 57,340 | 50,714 | 55,927 | ||||
Expected credit losses | 224 | 6,440 | 7,579 | |||||
Support expenses | [4] | (64,913) | (62,685) | (53,935) | ||||
Segment`s net contribution | 126,552 | 122,903 | 129,753 | |||||
Other [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | 123,309 | [1] | 83,215 | [2] | 83,606 | [2] | ||
Net interest income | 94,970 | (9,112) | 10,196 | |||||
Net fee and commission income | (6,582) | 9,754 | 1,651 | |||||
Financial transactions, net | [3] | 11,200 | 44,692 | 43,713 | ||||
Expected credit losses | (4,819) | 4,496 | 974 | |||||
Support expenses | [4] | (11,486) | (15,356) | (19,649) | ||||
Segment`s net contribution | 87,533 | 33,428 | 36,885 | |||||
Total [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | 30,213,414 | [1] | 27,725,914 | [2] | 27,206,431 | [2] | ||
Net interest income | 1,414,368 | 1,326,691 | 1,281,366 | |||||
Net fee and commission income | 498,658 | 311,157 | 254,424 | |||||
Financial transactions, net | [3] | 105,082 | 129,752 | 140,358 | ||||
Expected credit losses | (323,311) | (302,255) | (342,083) | |||||
Support expenses | [4] | (721,933) | (704,893) | (686,905) | ||||
Segment`s net contribution | 770,994 | 728,358 | 647,160 | |||||
Other operating income | 23,129 | 62,016 | 6,427 | |||||
Other operating expenses and impairment | (32,381) | (74,057) | (69,136) | |||||
Income from investments in associates and other companies | 5,095 | 3,963 | 3,012 | |||||
Income tax expense | (167,144) | (145,031) | (109,031) | |||||
Net income for the year | 599,693 | 575,249 | 478,432 | |||||
Individuals And PYMEs [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net fee and commission income | $ 422,172 | $ 389,060 | ||||||
Commercial Banking [Member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Loans and accounts receivable at amortised cost | [2] | $ 25,001,312 | ||||||
Net interest income | 1,176,065 | |||||||
Net fee and commission income | 227,696 | |||||||
Financial transactions, net | [3] | 40,718 | ||||||
Expected credit losses | (350,636) | |||||||
Support expenses | [4] | (613,321) | ||||||
Segment`s net contribution | $ 480,522 | |||||||
[1] | Corresponds to loans and accounts receivable at amortised cost under IFRS 9, without deducting their allowances for loan losses. | |||||||
[2] | Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. | |||||||
[3] | Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. | |||||||
[4] | Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
Reporting Segments (Details Tex
Reporting Segments (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Retail Banking [Member] | |
Reporting Segments (Textual) | |
Revenue | $ 1,200 |
Middle Market [Member] | Bottom of range [Member] | |
Reporting Segments (Textual) | |
Revenue | 1,200 |
Middle Market [Member] | Top of range [Member] | |
Reporting Segments (Textual) | |
Revenue | 1,200 |
GlobalCorporateBanking1[Member] | |
Reporting Segments (Textual) | |
Revenue | $ 10,000 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and deposits in banks | ||||
Cash | $ 861,178 | $ 824,863 | $ 613,361 | |
Deposits at the Central Bank of Chile | 1,731,079 | 953,016 | ||
Deposits in local banks | 948 | 664 | ||
Deposits in banks abroad | 961,315 | 286,898 | ||
Subtotals - Cash and deposits in banks | 3,554,520 | 2,065,441 | ||
Net cash items in process of collection | 156,814 | 190,714 | ||
Cash and cash equivalents | $ 3,711,334 | $ 2,256,155 | $ 1,634,341 | $ 2,486,199 |
Cash and Cash Equivalents (De_2
Cash and Cash Equivalents (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Documents held by other banks (documents to be cleared) | $ 217,394 | $ 210,546 |
Funds receivable | 137,668 | 143,211 |
Subtotal | 355,062 | 353,757 |
Liabilities | ||
Funds payable | 198,248 | 163,043 |
Subtotal | 198,248 | 163,043 |
Cash in process of collection, net | $ 156,814 | $ 190,714 |
Financial Assets Held for Tra_3
Financial Assets Held for Trading (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 270,204 | $ 77,041 |
Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | Chilean Financial Institution Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | Chilean Corporate Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | OthersChileanSecuritiesMember | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Foreign Financial Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 5,883 | |
Foreign Financial Securities [Member] | Foreign Central Banks And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Foreign Financial Securities [Member] | Other Foreign Financial Instruments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 5,883 | |
Investments In Mutual Funds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Investments In Mutual Funds [Member] | Funds Managed By Related Entities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Investments In Mutual Funds [Member] | Funds Managed By Others [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 270,204 | 71,158 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,952 | 22,947 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Other Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 268,252 | $ 48,211 |
Investments under Resale Agre_3
Investments under Resale Agreements and Obligations under Repurchase Agreements (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 380,055 | $ 48,545 |
Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 131 | 128 |
Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Time Deposits In Chilean Financial Institutions [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 131 | 128 |
Securities From Government Or Foreign Central Banks [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
From 1 Day And Less Than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 380,018 | 48,545 |
From 1 Day And Less Than 3 Months [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 127 | 128 |
From 1 Day And Less Than 3 Months [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
From 1 Day And Less Than 3 Months [Member] | Time Deposits In Chilean Financial Institutions [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 127 | 128 |
From 1 Day And Less Than 3 Months [Member] | Securities From Government Or Foreign Central Banks [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 3 Months To 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 37 | |
More Than 3 Months To 1 Year [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 4 | |
More Than 3 Months To 1 Year [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 3 Months To 1 Year [Member] | Time Deposits In Chilean Financial Institutions [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 4 | |
More Than 3 Months To 1 Year [Member] | Securities From Government Or Foreign Central Banks [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 1 Year [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 1 Year [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 1 Year [Member] | Time Deposits In Chilean Financial Institutions [Member] | Instruments From Other Domestic Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More Than 1 Year [Member] | Securities From Government Or Foreign Central Banks [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 48,417 |
Chilean Central Bank And Government Securities [Member] | Other Securities From The Government And The Chilean Central Bank [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 110 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 48,307 | |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | From 1 Day And Less Than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,891 | 48,417 |
Chilean Central Bank And Government Securities [Member] | From 1 Day And Less Than 3 Months [Member] | Other Securities From The Government And The Chilean Central Bank [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,891 | 110 |
Chilean Central Bank And Government Securities [Member] | From 1 Day And Less Than 3 Months [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 48,307 | |
Chilean Central Bank And Government Securities [Member] | From 1 Day And Less Than 3 Months [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 33 | |
Chilean Central Bank And Government Securities [Member] | More Than 3 Months To 1 Year [Member] | Other Securities From The Government And The Chilean Central Bank [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 33 | |
Chilean Central Bank And Government Securities [Member] | More Than 3 Months To 1 Year [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 3 Months To 1 Year [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 1 Year [Member] | Other Securities From The Government And The Chilean Central Bank [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 1 Year [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | More Than 1 Year [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total |
Investments under Resale Agre_4
Investments under Resale Agreements and Obligations under Repurchase Agreements (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 380,055 | $ 49,281 |
Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 49,149 |
Chilean Central Bank Bonds [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 49,040 | |
Chilean Central Bank Notes [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Central Bank And Government Securities [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 109 |
Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Instruments From Other Foreign Institutions [Member] | Securities From Government Or Foreign Central Banks [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 131 | 132 |
Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 131 | 132 |
Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Chilean Central Bank Bonds [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Chilean Central Bank Notes [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Other Chilean Central Bank And Government Securities [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Instruments From Other Foreign Institutions [Member] | Securities From Government Or Foreign Central Banks [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 49,281 |
Available For Sale Portfolio [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 49,149 |
Available For Sale Portfolio [Member] | Chilean Central Bank Bonds [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 49,040 | |
Available For Sale Portfolio [Member] | Chilean Central Bank Notes [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Available For Sale Portfolio [Member] | Other Chilean Central Bank And Government Securities [Member] | Chilean Central Bank And Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 379,924 | 109 |
Available For Sale Portfolio [Member] | Instruments From Other Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Available For Sale Portfolio [Member] | Instruments From Other Foreign Institutions [Member] | Securities From Government Or Foreign Central Banks [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Available For Sale Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 131 | 132 |
Available For Sale Portfolio [Member] | Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 131 | $ 132 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedge Accounting (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about hedges [line items] | |||
Notional amount | $ 377,131,597 | $ 241,467,084 | $ 177,224,139 |
Fair value Assets | 8,148,608 | 3,100,635 | 2,238,647 |
Fair value Liabilities | 7,390,654 | 2,517,728 | 2,139,488 |
More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 84,086,430 | 35,372,847 | |
More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 236,978,332 | 110,235,375 | |
Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 56,066,835 | 31,615,917 | |
Cash Flow Hedge [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,939,379 | 13,456,422 | 9,751,673 |
Fair value Assets | 110,544 | 79,859 | |
Fair value Liabilities | 46,688 | 40,725 | |
Cash Flow Hedge [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 15,053,362 | 13,082,521 | 8,731,598 |
Fair value Assets | 106,413 | 79,859 | |
Fair value Liabilities | 43,183 | 32,712 | |
Cash Flow Hedge [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,886,017 | 373,901 | 1,020,075 |
Fair value Assets | 4,131 | ||
Fair value Liabilities | 3,505 | 8,013 | |
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,956,878 | 1,856,586 | |
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,938,222 | 1,637,604 | |
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,018,656 | 218,982 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 11,616,489 | 6,672,566 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 10,848,233 | 6,672,566 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 768,256 | ||
Cash Flow Hedge [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,366,012 | 1,222,521 | |
Cash Flow Hedge [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,266,907 | 421,428 | |
Cash Flow Hedge [Member] | Up To 3 Months [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 99,105 | 801,093 | |
Trading Derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 343,017,782 | 159,676,837 | |
Fair value Assets | 7,771,734 | 2,909,630 | |
Fair value Liabilities | 7,014,421 | 2,431,107 | |
Trading Derivatives [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 138,936 | 271,808 | |
Fair value Assets | 190 | ||
Fair value Liabilities | 483 | 363 | |
Trading Derivatives [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 146,787 | 277,338 | |
Fair value Assets | 5,176 | 4,332 | |
Fair value Liabilities | 240 | 854 | |
Trading Derivatives [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 141,390,865 | 57,578,156 | |
Fair value Assets | 4,277,450 | 1,568,365 | |
Fair value Liabilities | 3,605,516 | 1,385,314 | |
Trading Derivatives [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 146,680,442 | 69,802,132 | |
Fair value Assets | 2,465,235 | 723,870 | |
Fair value Liabilities | 2,270,686 | 577,835 | |
Trading Derivatives [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 54,660,752 | 31,747,403 | |
Fair value Assets | 1,023,683 | 613,063 | |
Fair value Liabilities | 1,137,496 | 466,741 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 79,947,958 | 32,637,575 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 41,872 | 28,616 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 47,012 | 37,099 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 20,457,463 | 7,503,144 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 40,892,909 | 14,389,389 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 18,508,702 | 10,679,327 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 210,157,647 | 96,645,866 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 80,655 | 50,470 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 81,804 | 49,853 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 113,206,678 | 47,111,371 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 89,109,046 | 46,342,779 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,679,464 | 3,091,393 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 52,912,177 | 30,393,396 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,409 | 192,722 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 17,971 | 190,386 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,726,724 | 2,963,641 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,678,487 | 9,069,964 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 28,472,586 | 17,976,683 | |
Fair Value Hedges [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 17,174,436 | 9,745,718 | 7,795,629 |
Fair value Assets | 266,330 | 111,146 | |
Fair value Liabilities | 329,545 | 45,896 | |
Fair Value Hedges [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 14,628,050 | 7,983,106 | 6,078,473 |
Fair value Assets | 226,870 | 96,357 | |
Fair value Liabilities | 295,281 | 36,708 | |
Fair Value Hedges [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,546,386 | 1,762,612 | 1,717,156 |
Fair value Assets | 39,460 | 14,789 | |
Fair value Liabilities | 34,264 | $ 9,188 | |
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,181,594 | 878,686 | |
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 863,984 | 715,701 | |
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 317,610 | 162,985 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 15,204,196 | 6,916,943 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 13,357,058 | 5,362,772 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,847,138 | 1,554,171 | |
Fair Value Hedges [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 788,646 | ||
Fair Value Hedges [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 407,008 | ||
Fair Value Hedges [Member] | Up To 3 Months [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | $ 381,638 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedge Accounting (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about hedges [line items] | |||
Notional amount | $ 377,131,597 | $ 241,467,084 | $ 177,224,139 |
Fair Value Hedges [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 17,174,436 | 9,745,718 | 7,795,629 |
Fair Value Hedges [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 14,628,050 | 7,983,106 | 6,078,473 |
Fair Value Hedges [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,546,386 | 1,762,612 | 1,717,156 |
Fair Value Hedges [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,834,450 | 2,806,662 | |
Fair Value Hedges [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 650,000 | ||
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 400,296 | 172,072 | |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,728 | 3,779 | |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 186,843 | 174,440 | |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Chilean Central Bank bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 254,685 | 449,730 | |
Fair Value Hedges [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 289,369 | 524,859 | |
Fair Value Hedges [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,192,695 | 486,013 | 137,985 |
Fair Value Hedges [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,363,370 | 5,128,163 | 4,382,487 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,970,240 | 1,848,509 | 878,686 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,270,992 | 1,276,909 | 715,701 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 699,248 | 571,600 | 162,985 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 633,300 | 653,872 | |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Chilean Central Bank bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 685,259 | 486,013 | 137,985 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 651,681 | 708,624 | 25,000 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,751,437 | 3,144,709 | 2,440,933 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,791,437 | 2,794,709 | 1,512,238 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 960,000 | 350,000 | 928,695 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,189,036 | 1,272,382 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 600,000 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,728 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Chilean Central Bank bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 254,685 | 449,730 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 289,369 | 304,818 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 281,921 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,133,698 | 1,117,779 | 1,399,686 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,229,726 | 1,578,840 | 1,994,389 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,774,647 | 1,228,840 | 1,813,221 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 455,079 | 350,000 | 181,168 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,545,240 | 276,590 | |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 50,000 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 5,605 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,779 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 149,474 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Chilean Central Bank bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 225,515 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,253,892 | 1,298,471 | 670,488 |
Fair Value Hedges [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,223,033 | 3,173,660 | 2,481,621 |
Fair Value Hedges [Member] | Over 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,790,974 | 2,682,648 | 2,037,313 |
Fair Value Hedges [Member] | Over 6 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 432,059 | 491,012 | 444,308 |
Fair Value Hedges [Member] | Over 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,466,874 | 603,818 | |
Fair Value Hedges [Member] | Over 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 394,691 | 172,072 | |
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 37,369 | 174,440 | |
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Chilean Central Bank bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 220,041 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,324,099 | 2,003,289 | 2,287,313 |
Cash Flow Hedge [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,939,379 | 13,456,422 | 9,751,673 |
Cash Flow Hedge [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 15,053,362 | 13,082,521 | 8,731,598 |
Cash Flow Hedge [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,886,017 | 373,901 | 1,020,075 |
Cash Flow Hedge [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 9,972,447 | 8,843,999 | |
Cash Flow Hedge [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 109,585 | ||
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 166,628 | ||
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 82,727 | 246,306 | |
Cash Flow Hedge [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,722,163 | 666,823 | 1,070,524 |
Cash Flow Hedge [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,722,163 | 1,658,733 | 888,077 |
Cash Flow Hedge [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 969,374 | 1,764,348 | 1,322,362 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 5,322,890 | 4,265,212 | 3,079,107 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,205,129 | 3,891,311 | 2,059,032 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,117,761 | 373,901 | 1,020,075 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,334,734 | 1,890,696 | |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 109,585 | ||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 358,118 | 120,520 | |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 803,596 | 500,583 | 241,183 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 826,442 | 1,764,348 | 919,448 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,686,405 | 3,746,437 | 1,755,144 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,918,149 | 3,746,437 | 1,755,144 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 768,256 | ||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,505,595 | 3,026,824 | |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 341,283 | 666,823 | 647,550 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,696,595 | 52,790 | 121,619 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 142,932 | 402,914 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,497,630 | 2,473,962 | 2,130,105 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,497,630 | 2,473,962 | 2,130,105 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,995,156 | 1,459,389 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 166,628 | ||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 82,727 | 246,306 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,152,461 | 302,454 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,152,461 | 601,639 | 224,401 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,332,454 | 2,970,811 | 2,787,317 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,432,454 | 2,970,811 | 2,787,317 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,136,962 | 2,467,090 | |
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans and accounts receivable at amortised cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean sovereign bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,069,511 | ||
Cash Flow Hedge [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,069,511 | 503,721 | 300,874 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedge Accounting (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about hedges [line items] | |||
Notional amount | $ 377,131,597 | $ 241,467,084 | $ 177,224,139 |
More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 84,086,430 | 35,372,847 | |
More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 236,978,332 | 110,235,375 | |
Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 56,066,835 | 31,615,917 | |
Fair Value Hedges [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 17,174,436 | 9,745,718 | 7,795,629 |
Fair Value Hedges [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 14,628,050 | 7,983,106 | 6,078,473 |
Fair Value Hedges [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,546,386 | 1,762,612 | 1,717,156 |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 254,685 | 449,730 | |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 172,072 | ||
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,728 | 3,779 | |
Fair Value Hedges [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 186,843 | 174,440 | |
Fair Value Hedges [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,363,370 | 5,128,163 | 4,382,487 |
Fair Value Hedges [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,192,695 | 486,013 | 137,985 |
Fair Value Hedges [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 289,369 | 524,859 | |
Fair Value Hedges [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 650,000 | ||
Fair Value Hedges [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,834,450 | 2,806,662 | |
Fair Value Hedges [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,806,662 | ||
Fair Value Hedges [Member] | Available For Sale Investments [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 790,286 | ||
Fair Value Hedges [Member] | Available For Sale Investments [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 784,104 | ||
Fair Value Hedges [Member] | Available For Sale Investments [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 70,938 | ||
Fair Value Hedges [Member] | Available For Sale Investments [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,738 | ||
Fair Value Hedges [Member] | Available For Sale Investments [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 129,539 | ||
Fair Value Hedges [Member] | Loans And Accounts Receivable From Customers [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,495,552 | ||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,970,240 | 1,848,509 | 878,686 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,270,992 | 1,276,909 | 715,701 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 699,248 | 571,600 | 162,985 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 651,681 | 708,624 | 25,000 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 685,259 | 486,013 | 137,985 |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 633,300 | 653,872 | |
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 653,872 | ||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 128,289 | ||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable From Customers [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 587,412 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,229,726 | 1,578,840 | 1,994,389 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,774,647 | 1,228,840 | 1,813,221 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 455,079 | 350,000 | 181,168 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,779 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 149,474 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,253,892 | 1,298,471 | 670,488 |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 225,515 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 50,000 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,545,240 | 276,590 | |
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 276,590 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 443,357 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 762,727 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,169 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,738 | ||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 106,910 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,751,437 | 3,144,709 | 2,440,933 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,791,437 | 2,794,709 | 1,512,238 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 960,000 | 350,000 | 928,695 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 254,685 | 449,730 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,728 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,133,698 | 1,117,779 | 1,399,686 |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 281,921 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 289,369 | 304,818 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 600,000 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,189,036 | 1,272,382 | |
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,272,382 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 218,640 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 21,377 | ||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable From Customers [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 801,230 | ||
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,181,594 | 878,686 | |
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 863,984 | 715,701 | |
Fair Value Hedges [Member] | More Than 3 Months To 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 317,610 | 162,985 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 15,204,196 | 6,916,943 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 13,357,058 | 5,362,772 | |
Fair Value Hedges [Member] | More Than 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,847,138 | 1,554,171 | |
Fair Value Hedges [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,223,033 | 3,173,660 | 2,481,621 |
Fair Value Hedges [Member] | Over 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 6,790,974 | 2,682,648 | 2,037,313 |
Fair Value Hedges [Member] | Over 6 years [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 432,059 | 491,012 | 444,308 |
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 172,072 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instrument At FVOCI [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 37,369 | 174,440 | |
Fair Value Hedges [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,324,099 | 2,003,289 | 2,287,313 |
Fair Value Hedges [Member] | Over 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 220,041 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,466,874 | 603,818 | |
Fair Value Hedges [Member] | Over 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 603,818 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Central bank bonds (BCP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Chiliean Treasury Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Yankee bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 64,769 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Mortgage financing bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Treasury bonds (BTP) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 129,539 | ||
Fair Value Hedges [Member] | Over 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Endorsable Mortgage Mutual Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Fair Value Hedges [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 788,646 | ||
Fair Value Hedges [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 407,008 | ||
Fair Value Hedges [Member] | Up To 3 Months [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 381,638 | ||
Cash Flow Hedge [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,939,379 | 13,456,422 | 9,751,673 |
Cash Flow Hedge [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 15,053,362 | 13,082,521 | 8,731,598 |
Cash Flow Hedge [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,886,017 | 373,901 | 1,020,075 |
Cash Flow Hedge [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 969,374 | 1,764,348 | 1,322,362 |
Cash Flow Hedge [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,722,163 | 1,658,733 | 888,077 |
Cash Flow Hedge [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,722,163 | 666,823 | 1,070,524 |
Cash Flow Hedge [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 166,628 | ||
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 82,727 | 246,306 | |
Cash Flow Hedge [Member] | Debt Instruments At FVOCI [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 109,585 | ||
Cash Flow Hedge [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 9,972,447 | 8,843,999 | |
Cash Flow Hedge [Member] | Available For Sale Investments [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Available For Sale Investments [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 242,819 | ||
Cash Flow Hedge [Member] | Available For Sale Investments [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 157,862 | ||
Cash Flow Hedge [Member] | Loans And Accounts Receivable From Customers [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 644,608 | ||
Cash Flow Hedge [Member] | Loans And Accounts Receivable From Customers [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 5,425,421 | ||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 5,322,890 | 4,265,212 | 3,079,107 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,205,129 | 3,891,311 | 2,059,032 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,117,761 | 373,901 | 1,020,075 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 826,442 | 1,764,348 | 919,448 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 803,596 | 500,583 | 241,183 |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 358,118 | 120,520 | |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Debt Instruments At FVOCI [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 109,585 | ||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,334,734 | 1,890,696 | |
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Available For Sale Investments [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable From Customers [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 644,608 | ||
Cash Flow Hedge [Member] | Due Within 1 Year [Member] | Loans And Accounts Receivable From Customers [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,153,348 | ||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,497,630 | 2,473,962 | 2,130,105 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,497,630 | 2,473,962 | 2,130,105 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,152,461 | 601,639 | 224,401 |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,152,461 | 302,454 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 166,628 | ||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 82,727 | 246,306 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Debt Instruments At FVOCI [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,995,156 | 1,459,389 | |
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 242,819 | ||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Available For Sale Investments [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 25,290 | ||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 3 and 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,335,141 | ||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,686,405 | 3,746,437 | 1,755,144 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,918,149 | 3,746,437 | 1,755,144 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 768,256 | ||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 142,932 | 402,914 | |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,696,595 | 52,790 | 121,619 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 341,283 | 666,823 | 647,550 |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Debt Instruments At FVOCI [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,505,595 | 3,026,824 | |
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Available For Sale Investments [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable From Customers [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Between 1 and 3 years [Member] | Loans And Accounts Receivable From Customers [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 583,061 | ||
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,956,878 | 1,856,586 | |
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,938,222 | 1,637,604 | |
Cash Flow Hedge [Member] | More Than 3 Months To 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,018,656 | 218,982 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 11,616,489 | 6,672,566 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 10,848,233 | 6,672,566 | |
Cash Flow Hedge [Member] | More Than 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 768,256 | ||
Cash Flow Hedge [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,332,454 | 2,970,811 | 2,787,317 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 4,432,454 | 2,970,811 | 2,787,317 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Interbank borrowings [Member] | Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,069,511 | 503,721 | 300,874 |
Cash Flow Hedge [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 1,069,511 | ||
Cash Flow Hedge [Member] | Over 6 years [Member] | TimeDepositsAndOtherTimeLiabilitiesCategoryMember | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Debt Instruments At FVOCI [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans And Accounts Receivable At Amortised Cost [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 3,136,962 | $ 2,467,090 | |
Cash Flow Hedge [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Time deposits [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Chilean Central Bank Bonds [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Available For Sale Investments [Member] | Yankee bond [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 132,572 | ||
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Commercial Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Cash Flow Hedge [Member] | Over 6 years [Member] | Loans And Accounts Receivable From Customers [Member] | Mortgage Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,353,871 | ||
Cash Flow Hedge [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,366,012 | 1,222,521 | |
Cash Flow Hedge [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 2,266,907 | 421,428 | |
Cash Flow Hedge [Member] | Up To 3 Months [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 99,105 | 801,093 | |
Trading Derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 343,017,782 | 159,676,837 | |
Trading Derivatives [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 141,390,865 | 57,578,156 | |
Trading Derivatives [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 54,660,752 | 31,747,403 | |
Trading Derivatives [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 146,680,442 | 69,802,132 | |
Trading Derivatives [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 146,787 | 277,338 | |
Trading Derivatives [Member] | Call interest rate options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 138,936 | 271,808 | |
Trading Derivatives [Member] | Other derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 79,947,958 | 32,637,575 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 20,457,463 | 7,503,144 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 18,508,702 | 10,679,327 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 40,892,909 | 14,389,389 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 47,012 | 37,099 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Call interest rate options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 41,872 | 28,616 | |
Trading Derivatives [Member] | More Than 3 Months To 1 Year [Member] | Other derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | More Than 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 210,157,647 | 96,645,866 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 113,206,678 | 47,111,371 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,679,464 | 3,091,393 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 89,109,046 | 46,342,779 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 81,804 | 49,853 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Call interest rate options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | More Than 1 Year [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 80,655 | 50,470 | |
Trading Derivatives [Member] | More Than 1 Year [Member] | Other derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | Up To 3 Months [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 52,912,177 | 30,393,396 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Cross Currency Swaps [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 7,726,724 | 2,963,641 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Currency Forwards [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 28,472,586 | 17,976,683 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Interest Rate Swap Contract [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 16,678,487 | 9,069,964 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Call currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | 17,971 | 190,386 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Call interest rate options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | |||
Trading Derivatives [Member] | Up To 3 Months [Member] | Put currency options [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount | $ 16,409 | 192,722 | |
Trading Derivatives [Member] | Up To 3 Months [Member] | Other derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Notional amount |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedge Accounting (Details 3) - Cash Flow Hedge [Member] - CLP ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Inflation rate risk [member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 573,435 | $ 437,678 | |
Inflation rate risk [member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (14,036) | (1,645) | |
Inflation rate risk [member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 587,471 | 439,323 | |
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 166,516 | 103,544 | |
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 166,516 | 103,544 | |
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 73,576 | 29,008 | |
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 73,576 | 29,008 | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 23,050 | 18,655 | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (14,036) | (1,645) | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 37,086 | 20,300 | |
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 310,293 | 286,471 | |
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 310,293 | 286,471 | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (573,435) | (437,678) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (166,516) | (103,544) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (73,576) | (29,008) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (23,050) | (18,655) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (310,293) | (286,471) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (587,471) | (439,323) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (166,516) | (103,544) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (73,576) | (29,008) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (37,086) | (20,300) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (310,293) | (286,471) | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 14,036 | 1,645 | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 14,036 | 1,645 | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Interest rate risk [member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (71,938) | 272,751 | |
Interest rate risk [member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (190,131) | (112,875) | |
Interest rate risk [member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 118,193 | 385,626 | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (10,249) | 6,023 | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (13,311) | (7,757) | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 3,062 | 13,780 | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (10,378) | 17,008 | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (46,372) | (43,507) | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 35,994 | 60,515 | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (49,011) | 248,004 | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (125,747) | (60,733) | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 76,736 | 308,737 | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (2,300) | 1,716 | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (4,701) | (878) | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 2,401 | 2,594 | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 71,938 | (272,751) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 10,249 | (6,023) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 10,378 | (17,008) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 49,011 | (248,004) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 2,300 | (1,716) | |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (118,193) | (385,626) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (3,062) | (13,780) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (35,994) | (60,515) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (76,736) | (308,737) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (2,401) | (2,594) |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 190,131 | 112,875 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 13,311 | 7,757 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 46,372 | 43,507 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 125,747 | 60,733 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 4,701 | $ 878 | |
[1] | Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedge Accounting (Details 4) - Cash Flow Hedge [Member] - CLP ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Inflation rate risk [member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 573,435 | $ 437,678 | |
Inflation rate risk [member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (14,036) | (1,645) | |
Inflation rate risk [member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 587,471 | 439,323 | |
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 166,516 | 103,544 | |
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 166,516 | 103,544 | |
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 73,576 | 29,008 | |
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 73,576 | 29,008 | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 23,050 | 18,655 | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (14,036) | (1,645) | |
Inflation rate risk [member] | Due Within 1 Year [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 37,086 | 20,300 | |
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 310,293 | 286,471 | |
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Over 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 310,293 | 286,471 | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (573,435) | (437,678) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (166,516) | (103,544) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (73,576) | (29,008) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (23,050) | (18,655) | |
Inflation rate risk [member] | Hedging Instruments Net flows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (310,293) | (286,471) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (587,471) | (439,323) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (166,516) | (103,544) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (73,576) | (29,008) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (37,086) | (20,300) | |
Inflation rate risk [member] | Hedging Instruments Outflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (310,293) | (286,471) | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 14,036 | 1,645 | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 14,036 | 1,645 | |
Inflation rate risk [member] | Hedging Instruments Inflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | |||
Interest rate risk [member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (71,938) | 272,751 | |
Interest rate risk [member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (190,131) | (112,875) | |
Interest rate risk [member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 118,193 | 385,626 | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (10,249) | 6,023 | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (13,311) | (7,757) | |
Interest rate risk [member] | Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 3,062 | 13,780 | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (10,378) | 17,008 | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (46,372) | (43,507) | |
Interest rate risk [member] | Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 35,994 | 60,515 | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (49,011) | 248,004 | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (125,747) | (60,733) | |
Interest rate risk [member] | Due Within 1 Year [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 76,736 | 308,737 | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (2,300) | 1,716 | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (4,701) | (878) | |
Interest rate risk [member] | Over 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 2,401 | 2,594 | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 71,938 | (272,751) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 10,249 | (6,023) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 10,378 | (17,008) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 49,011 | (248,004) | |
Interest rate risk [member] | Hedging Instruments Net flows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 2,300 | (1,716) | |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (118,193) | (385,626) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (3,062) | (13,780) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (35,994) | (60,515) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (76,736) | (308,737) |
Interest rate risk [member] | Hedging Instruments Outflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (2,401) | (2,594) |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 190,131 | 112,875 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Between 3 and 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 13,311 | 7,757 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Between 1 and 3 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 46,372 | 43,507 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Due Within 1 Year [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 125,747 | 60,733 | |
Interest rate risk [member] | Hedging Instruments Inflows [Member] | Over 6 years [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 4,701 | $ 878 | |
[1] | Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. |
Derivative Financial Instrume_8
Derivative Financial Instruments and Hedge Accounting (Details 5) - Cash Flow Hedge [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedges [line items] | ||
Net flows | $ 9,803 | $ (3,562) |
Issued debt instruments [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (10,893) | (8,683) |
Loans And Accounts Receivable At Amortised Cost [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | 21,779 | |
Loans And Accounts Receivable From Customers [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | 10,264 | |
Available For Sale Investments [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (364) | |
TimeDepositsAndOtherTimeLiabilitiesCategoryMember | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | ||
Interbank borrowings [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | 309 | (4,779) |
Debt Instruments At FVOCI [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | $ (1,392) |
Derivative Financial Instrume_9
Derivative Financial Instruments and Hedge Accounting (Details 6) - Cash Flow Hedge [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | $ (683) | $ (77) | |
Interbank Loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | (683) | ||
Bond Hedging derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | $ (77) |
Derivative Financial Instrum_10
Derivative Financial Instruments and Hedge Accounting (Details Textual) - CLP ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Financial Instruments and Hedge Accounting (Textual) | ||
Bank recorded inefficiencies | $ 2,912 | $ 1,187 |
Loans and Accounts Receivable_5
Loans and Accounts Receivable at Amortised Cost (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | ||||
Assets before allowances | $ 32,671,515 | $ 30,213,414 | ||
ECL allowance | 896,095 | 882,414 | ||
Net Assets | 31,775,420 | 29,331,001 | ||
Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 29,041,636 | 26,913,508 | ||
ECL allowance | 133,269 | 153,640 | ||
Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,995,733 | 1,796,790 | ||
ECL allowance | 121,261 | 125,114 | ||
Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,634,146 | 1,503,116 | ||
ECL allowance | 641,565 | 603,660 | ||
Mortgages [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 11,262,995 | 10,150,981 | $ 9,096,895 | |
ECL allowance | 101,059 | 91,270 | 108,019 | |
Net Assets | 11,161,936 | 10,059,711 | ||
Mortgages [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 10,275,966 | 9,258,962 | ||
ECL allowance | 8,446 | 9,006 | ||
Mortgages [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 457,948 | 447,496 | ||
ECL allowance | 14,509 | 15,102 | ||
Mortgages [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 529,081 | 444,523 | ||
ECL allowance | 78,104 | 67,162 | ||
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 11,150,545 | 10,025,019 | ||
ECL allowance | 100,106 | 90,288 | ||
Net Assets | 11,050,439 | 9,934,731 | ||
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 10,172,400 | 9,142,627 | ||
ECL allowance | 8,361 | 8,899 | ||
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 454,385 | 442,801 | ||
ECL allowance | 14,385 | 14,936 | ||
Mortgages [Member] | Other Mortgage Mutual Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 439,591 | 439,591 | ||
ECL allowance | 66,453 | 66,453 | ||
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 12,298 | 17,426 | ||
ECL allowance | 137 | 177 | ||
Net Assets | 12,161 | 17,249 | ||
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 10,774 | 15,261 | ||
ECL allowance | 13 | 20 | ||
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 744 | 1,241 | ||
ECL allowance | 21 | 40 | ||
Mortgages [Member] | Loans With Mortgage Finance Bonds [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 780 | 924 | ||
ECL allowance | 103 | 117 | ||
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 100,152 | 108,536 | ||
ECL allowance | 816 | 805 | ||
Net Assets | 99,336 | 107,731 | ||
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 92,792 | 101,074 | ||
ECL allowance | 72 | 87 | ||
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 2,819 | 3,454 | ||
ECL allowance | 103 | 126 | ||
Mortgages [Member] | Endorsable Mortgage Mutual Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 4,541 | 4,008 | ||
ECL allowance | 641 | 592 | ||
Commercial Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 15,862,325 | 15,186,144 | 13,963,093 | |
ECL allowance | 506,569 | 508,190 | [1] | 482,713 |
Net Assets | 15,355,756 | 14,679,342 | ||
Commercial Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 13,802,623 | 13,312,806 | ||
ECL allowance | 57,427 | 73,730 | ||
Commercial Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,245,067 | 1,100,255 | ||
ECL allowance | 55,944 | 55,640 | ||
Commercial Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 814,635 | 773,083 | ||
ECL allowance | 393,198 | 377,432 | ||
Commercial Loans [Member] | Interbank Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 14,852 | 15,093 | ||
ECL allowance | 1 | 10 | ||
Net Assets | 14,851 | 15,083 | ||
Commercial Loans [Member] | Interbank Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 14,852 | 15,093 | ||
ECL allowance | 1 | 10 | ||
Commercial Loans [Member] | Interbank Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | ||||
ECL allowance | ||||
Commercial Loans [Member] | Interbank Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | ||||
ECL allowance | ||||
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 11,708,187 | 11,133,766 | ||
ECL allowance | 384,124 | 368,786 | ||
Net Assets | 11,324,063 | 10,764,980 | ||
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 10,179,002 | 9,684,451 | ||
ECL allowance | 41,296 | 52,782 | ||
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 870,028 | 841,123 | ||
ECL allowance | 41,734 | 41,954 | ||
Commercial Loans [Member] | Commercial Loans Portfolio [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 659,157 | 608,192 | ||
ECL allowance | 301,094 | 274,050 | ||
Commercial Loans [Member] | Foreign Trade Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,713,633 | 1,752,437 | ||
ECL allowance | 28,387 | 39,917 | ||
Net Assets | 1,685,246 | 1,712,520 | ||
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,519,757 | 1,646,337 | ||
ECL allowance | 4,113 | 5,466 | ||
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 155,324 | 56,295 | ||
ECL allowance | 705 | 735 | ||
Commercial Loans [Member] | Foreign Trade Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 38,552 | 49,805 | ||
ECL allowance | 23,569 | 33,716 | ||
Commercial Loans [Member] | Checking Accounts Debtors [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 196,893 | 215,162 | ||
ECL allowance | 11,900 | 13,784 | ||
Net Assets | 184,993 | 201,378 | ||
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 166,771 | 183,290 | ||
ECL allowance | 1,492 | 2,108 | ||
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 16,108 | 16,452 | ||
ECL allowance | 764 | 467 | ||
Commercial Loans [Member] | Checking Accounts Debtors [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 14,014 | 15,420 | ||
ECL allowance | 9,644 | 11,209 | ||
Commercial Loans [Member] | Factoring Transactions [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 489,400 | 380,983 | ||
ECL allowance | 3,296 | 4,353 | ||
Net Assets | 486,104 | 376,630 | ||
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 478,465 | 370,391 | ||
ECL allowance | 1,158 | 829 | ||
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 7,946 | 6,005 | ||
ECL allowance | 234 | 91 | ||
Commercial Loans [Member] | Factoring Transactions [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 2,989 | 4,587 | ||
ECL allowance | 1,904 | 3,433 | ||
Commercial Loans [Member] | Student Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 71,273 | 79,916 | ||
ECL allowance | 9,319 | 11,190 | ||
Net Assets | 61,954 | 68,726 | ||
Commercial Loans [Member] | Student Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 57,206 | 64,381 | ||
ECL allowance | 1,774 | 2,705 | ||
Commercial Loans [Member] | Student Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 5,942 | 6,049 | ||
ECL allowance | 1,950 | 2,170 | ||
Commercial Loans [Member] | Student Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 8,125 | 9,486 | ||
ECL allowance | 5,595 | 6,315 | ||
Commercial Loans [Member] | Leasing Transactions [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,424,862 | 1,443,724 | ||
ECL allowance | 44,645 | 38,800 | ||
Net Assets | 1,380,217 | 1,404,924 | ||
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,184,765 | 1,225,755 | ||
ECL allowance | 5,415 | 7,236 | ||
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 178,556 | 169,196 | ||
ECL allowance | 8,270 | 9,033 | ||
Commercial Loans [Member] | Leasing Transactions [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 61,541 | 48,773 | ||
ECL allowance | 30,960 | 22,531 | ||
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 243,225 | 165,064 | ||
ECL allowance | 24,615 | 29,962 | ||
Net Assets | 218,328 | 135,101 | ||
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 201,805 | 123,108 | ||
ECL allowance | 2,178 | 2,594 | ||
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 11,163 | 5,135 | ||
ECL allowance | 2,287 | 1,190 | ||
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 30,257 | 36,821 | ||
ECL allowance | 20,432 | 26,178 | ||
Consumer Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 5,546,195 | 4,876,289 | 4,557,692 | |
ECL allowance | 288,467 | 301,014 | [1] | $ 297,359 |
Net Assets | 5,257,728 | 4,591,947 | ||
Consumer Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 4,963,047 | 4,341,740 | ||
ECL allowance | 67,396 | 70,904 | ||
Consumer Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 292,718 | 249,039 | ||
ECL allowance | 50,808 | 54,372 | ||
Consumer Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 290,430 | 285,510 | ||
ECL allowance | 170,263 | 159,066 | ||
Consumer Loans [Member] | Leasing Transactions [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 3,952 | 4,157 | ||
ECL allowance | 122 | 127 | ||
Net Assets | 3,830 | 4,030 | ||
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 3,569 | 3,974 | ||
ECL allowance | 56 | 83 | ||
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 303 | 133 | ||
ECL allowance | 30 | 22 | ||
Consumer Loans [Member] | Leasing Transactions [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 80 | 50 | ||
ECL allowance | 36 | 22 | ||
Consumer Loans [Member] | Installment Consumer Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 3,917,536 | 3,189,670 | ||
ECL allowance | 255,061 | 247,387 | ||
Net Assets | 3,662,475 | 2,942,283 | ||
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 3,378,489 | 2,693,260 | ||
ECL allowance | 51,289 | 50,748 | ||
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 270,347 | 231,107 | ||
ECL allowance | 45,102 | 48,622 | ||
Consumer Loans [Member] | Installment Consumer Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 268,700 | 265,303 | ||
ECL allowance | 158,670 | 148,017 | ||
Consumer Loans [Member] | Credit Card Balances [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,377,710 | 1,417,152 | ||
ECL allowance | 27,337 | 28,788 | ||
Net Assets | 1,350,373 | 1,388,364 | ||
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 1,341,734 | 1,385,783 | ||
ECL allowance | 12,507 | 15,087 | ||
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 17,668 | 14,977 | ||
ECL allowance | 4,894 | 4,961 | ||
Consumer Loans [Member] | Credit Card Balances [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 18,308 | 16,392 | ||
ECL allowance | 9,936 | 8,740 | ||
Consumer Loans [Member] | Other Consumer Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 246,997 | 265,310 | ||
ECL allowance | 5,947 | 8,040 | ||
Net Assets | 241,050 | 257,270 | ||
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 239,255 | 258,723 | ||
ECL allowance | 3,544 | 4,986 | ||
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 4,400 | 2,822 | ||
ECL allowance | 782 | 767 | ||
Consumer Loans [Member] | Other Consumer Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets before allowances | 3,342 | 3,765 | ||
ECL allowance | $ 1,621 | $ 2,287 | ||
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. |
Loans and Accounts Receivable_6
Loans and Accounts Receivable at Amortised Cost (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | $ 30,213,414 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 32,671,515 | $ 30,213,414 | ||
Expected credit losses allowances, Beginning balance | 882,414 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 896,095 | 882,414 | ||
Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 26,913,508 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 29,041,636 | 26,913,508 | ||
Expected credit losses allowances, Beginning balance | 153,640 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 133,269 | 153,640 | ||
Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 1,796,790 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 1,995,733 | 1,796,790 | ||
Expected credit losses allowances, Beginning balance | 125,114 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 121,261 | 125,114 | ||
Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 1,503,116 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 1,634,146 | 1,503,116 | ||
Expected credit losses allowances, Beginning balance | 603,660 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 641,565 | 603,660 | ||
Commercial Loans [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 15,186,144 | 13,963,093 | ||
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | ||||
Transfers to stage 3 | ||||
Transfers to stage 1 | ||||
Transfers to stage 2 | ||||
Transfers to stage 1 | ||||
Net changes on financial assets | 712,258 | 2,305,311 | ||
Writte-off | (177,849) | (128,351) | ||
Foreign exchange adjustments and others | 110,456 | (953,908) | ||
Gross carrying amount, Ending balance | 15,862,325 | 15,186,144 | ||
Expected credit losses allowances, Beginning balance | 508,190 | [1] | 482,713 | |
Transfers | ||||
Transfers to stage 2 | 58,098 | 11,930 | ||
Transfers to stage 3 | 13,421 | 33,513 | ||
Transfers to stage 3 | 64,235 | 27,863 | ||
Transfers to stage 1 | (23,389) | (3,093) | ||
Transfers to stage 2 | (20,997) | (6,296) | ||
Transfers to stage 1 | (154) | (50) | ||
Net changes of the exposure and modifications in the credit risk | 87,894 | 43,974 | ||
Writte-off | (177,858) | (95,949) | ||
Foreign exchange adjustments and others | (2,871) | 12,197 | ||
Expected credit losses allowances, Ending balance | 506,569 | 508,190 | [1] | |
Commercial Loans [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 13,312,806 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 13,802,623 | 13,312,806 | ||
Expected credit losses allowances, Beginning balance | 73,730 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 57,427 | 73,730 | ||
Commercial Loans [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 1,100,255 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 1,245,067 | 1,100,255 | ||
Expected credit losses allowances, Beginning balance | 55,640 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 55,944 | 55,640 | ||
Commercial Loans [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 773,083 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 814,635 | 773,083 | ||
Expected credit losses allowances, Beginning balance | 377,432 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 393,198 | 377,432 | ||
Commercial Loans [Member] | Individual [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 9,695,837 | 9,062,153 | ||
Transfers | ||||
Transfers to stage 2 | (518,990) | (225,062) | ||
Transfers to stage 3 | (16,654) | |||
Transfers to stage 3 | ||||
Transfers to stage 1 | 158,935 | 13,199 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | ||||
Net changes on financial assets | 542,311 | 1,334,933 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 330,171 | (472,732) | ||
Gross carrying amount, Ending balance | 10,208,264 | 9,695,837 | ||
Expected credit losses allowances, Beginning balance | 30,189 | [1] | 29,797 | |
Transfers | ||||
Transfers to stage 2 | (7,786) | (2,719) | ||
Transfers to stage 3 | (241) | |||
Transfers to stage 3 | ||||
Transfers to stage 1 | 1,576 | 167 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | ||||
Net changes of the exposure and modifications in the credit risk | (6,948) | 4,105 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 4,508 | (920) | ||
Expected credit losses allowances, Ending balance | 21,539 | 30,189 | [1] | |
Commercial Loans [Member] | Individual [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 867,783 | 630,515 | ||
Transfers | ||||
Transfers to stage 2 | 518,990 | 225,062 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (132,136) | (59,688) | ||
Transfers to stage 1 | (158,935) | (13,199) | ||
Transfers to stage 2 | 11,229 | 4,451 | ||
Transfers to stage 1 | ||||
Net changes on financial assets | (119,884) | 138,436 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 17,920 | (57,794) | ||
Gross carrying amount, Ending balance | 1,004,967 | 867,783 | ||
Expected credit losses allowances, Beginning balance | 31,066 | [1] | 28,282 | |
Transfers | ||||
Transfers to stage 2 | 17,237 | 8,005 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (8,567) | (5,541) | ||
Transfers to stage 1 | (7,525) | (411) | ||
Transfers to stage 2 | 685 | 330 | ||
Transfers to stage 1 | ||||
Net changes of the exposure and modifications in the credit risk | (3,151) | 2,740 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 644 | (2,339) | ||
Expected credit losses allowances, Ending balance | 30,389 | 31,066 | [1] | |
Commercial Loans [Member] | Individual [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 386,929 | 372,744 | ||
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 16,654 | |||
Transfers to stage 3 | 132,136 | 59,688 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (11,229) | (4,451) | ||
Transfers to stage 1 | ||||
Net changes on financial assets | (24,788) | 4,240 | ||
Writte-off | (83,845) | (53,921) | ||
Foreign exchange adjustments and others | 1,804 | (8,025) | ||
Gross carrying amount, Ending balance | 401,007 | 386,929 | ||
Expected credit losses allowances, Beginning balance | 198,115 | [1] | 191,397 | |
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 6,612 | |||
Transfers to stage 3 | 44,203 | 22,705 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (3,867) | (1,704) | ||
Transfers to stage 1 | ||||
Net changes of the exposure and modifications in the credit risk | 41,365 | 1,251 | ||
Writte-off | (83,844) | (37,439) | ||
Foreign exchange adjustments and others | 193 | 15,293 | ||
Expected credit losses allowances, Ending balance | 196,165 | 198,115 | [1] | |
Commercial Loans [Member] | Collective [Member] | Stage 1 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 3,644,407 | 3,338,916 | ||
Transfers | ||||
Transfers to stage 2 | (347,678) | (53,020) | ||
Transfers to stage 3 | (41,696) | (67,886) | ||
Transfers to stage 3 | ||||
Transfers to stage 1 | 159,009 | 52,755 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | 1,134 | 718 | ||
Net changes on financial assets | 415,524 | 708,531 | ||
Writte-off | ||||
Foreign exchange adjustments and others | (236,341) | (363,045) | ||
Gross carrying amount, Ending balance | 3,594,359 | 3,644,407 | ||
Expected credit losses allowances, Beginning balance | 44,104 | [1] | 50,014 | |
Transfers | ||||
Transfers to stage 2 | (20,058) | (1,525) | ||
Transfers to stage 3 | (2,666) | (2,697) | ||
Transfers to stage 3 | ||||
Transfers to stage 1 | 4,838 | 553 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | 242 | 22 | ||
Net changes of the exposure and modifications in the credit risk | (3,395) | 3,770 | ||
Writte-off | ||||
Foreign exchange adjustments and others | (4,617) | (6,646) | ||
Expected credit losses allowances, Ending balance | 35,888 | 44,104 | [1] | |
Commercial Loans [Member] | Collective [Member] | Stage 2 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 235,239 | 208,018 | ||
Transfers | ||||
Transfers to stage 2 | 347,678 | 53,020 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (230,125) | (40,853) | ||
Transfers to stage 1 | (159,009) | (52,755) | ||
Transfers to stage 2 | 120,293 | 36,247 | ||
Transfers to stage 1 | ||||
Net changes on financial assets | (68,960) | 48,323 | ||
Writte-off | ||||
Foreign exchange adjustments and others | (5,016) | (19,528) | ||
Gross carrying amount, Ending balance | 240,100 | 235,239 | ||
Expected credit losses allowances, Beginning balance | 24,945 | [1] | 23,041 | |
Transfers | ||||
Transfers to stage 2 | 68,705 | 8,169 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (42,601) | (6,776) | ||
Transfers to stage 1 | (22,278) | (3,402) | ||
Transfers to stage 2 | 29,667 | 1,854 | ||
Transfers to stage 1 | ||||
Net changes of the exposure and modifications in the credit risk | (12,533) | 2,855 | ||
Writte-off | ||||
Foreign exchange adjustments and others | (350) | (1,167) | ||
Expected credit losses allowances, Ending balance | 25,555 | 24,945 | [1] | |
Commercial Loans [Member] | Collective [Member] | Stage 3 [Member] | ||||
Disclosure of financial assets [line items] | ||||
Gross carrying amount, Beginning balance | 387,265 | 350,747 | ||
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 41,696 | 67,886 | ||
Transfers to stage 3 | 230,125 | 40,853 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (120,293) | (36,247) | ||
Transfers to stage 1 | (1,134) | (718) | ||
Net changes on financial assets | (31,945) | 70,848 | ||
Writte-off | (94,004) | (74,430) | ||
Foreign exchange adjustments and others | 1,918 | (32,784) | ||
Gross carrying amount, Ending balance | 413,628 | 387,265 | ||
Expected credit losses allowances, Beginning balance | 179,771 | [1] | 160,182 | |
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 16,087 | 29,839 | ||
Transfers to stage 3 | 71,200 | 17,475 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (27,482) | (6,776) | ||
Transfers to stage 1 | (242) | (72) | ||
Net changes of the exposure and modifications in the credit risk | 54,962 | 29,253 | ||
Writte-off | (94,014) | (58,510) | ||
Foreign exchange adjustments and others | (3,249) | 7,926 | ||
Expected credit losses allowances, Ending balance | $ 197,033 | $ 179,771 | [1] | |
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. |
Loans and Accounts Receivable_7
Loans and Accounts Receivable at Amortised Cost (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | $ 30,213,414 | |
Transfers | ||
Gross carrying amount, Ending balance | 32,671,515 | $ 30,213,414 |
Expected credit losses allowances, Beginning balance | 882,414 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 896,095 | 882,414 |
Mortgages [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 10,150,981 | 9,096,895 |
Transfers | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Transfers to stage 3 | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 1 | ||
Net changes on financial assets | 1,072,202 | 1,271,127 |
Writte-off | (34,184) | (31,664) |
Foreign exchange adjustments and others | 73,996 | (185,377) |
Gross carrying amount, Ending balance | 11,262,995 | 10,150,981 |
Expected credit losses allowances, Beginning balance | 91,270 | 108,019 |
Transfers | ||
Transfers to stage 2 | 3,330 | |
Transfers to stage 3 | 8,677 | |
Transfers to stage 3 | 5,538 | |
Transfers to stage 1 | (5,992) | |
Transfers to stage 2 | (7,889) | |
Transfers to stage 1 | (141) | |
Net changes of the exposure and modifications in the credit risk | 39,468 | 392 |
Writte-off | (34,184) | (13,548) |
Foreign exchange adjustments and others | 4,505 | (7,116) |
Expected credit losses allowances, Ending balance | 101,059 | 91,270 |
Stage 1 [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 26,913,508 | |
Transfers | ||
Gross carrying amount, Ending balance | 29,041,636 | 26,913,508 |
Expected credit losses allowances, Beginning balance | 153,640 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 133,269 | 153,640 |
Stage 1 [Member] | Mortgages [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 9,258,962 | |
Transfers | ||
Gross carrying amount, Ending balance | 10,275,966 | 9,258,962 |
Expected credit losses allowances, Beginning balance | 9,006 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 8,446 | 9,006 |
Stage 1 [Member] | Mortgages [Member] | Collective [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 9,258,962 | 8,191,229 |
Transfers | ||
Transfers to stage 2 | (481,646) | (87,473) |
Transfers to stage 3 | (60,329) | (64,949) |
Transfers to stage 3 | ||
Transfers to stage 1 | 361,293 | 162,432 |
Transfers to stage 2 | ||
Transfers to stage 1 | 2,338 | 2,612 |
Net changes on financial assets | 1,131,941 | 1,226,259 |
Writte-off | ||
Foreign exchange adjustments and others | 63,407 | (171,148) |
Gross carrying amount, Ending balance | 10,275,966 | 9,258,962 |
Expected credit losses allowances, Beginning balance | 9,006 | 14,602 |
Transfers | ||
Transfers to stage 2 | (3,318) | (516) |
Transfers to stage 3 | (311) | (383) |
Transfers to stage 3 | ||
Transfers to stage 1 | 13,849 | 263 |
Transfers to stage 2 | ||
Transfers to stage 1 | 193 | 91 |
Net changes of the exposure and modifications in the credit risk | (11,007) | 1,601 |
Writte-off | ||
Foreign exchange adjustments and others | 34 | (6,652) |
Expected credit losses allowances, Ending balance | 8,446 | 9,006 |
Stage 2 [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 1,796,790 | |
Transfers | ||
Gross carrying amount, Ending balance | 1,995,733 | 1,796,790 |
Expected credit losses allowances, Beginning balance | 125,114 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 121,261 | 125,114 |
Stage 2 [Member] | Mortgages [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 447,496 | |
Transfers | ||
Gross carrying amount, Ending balance | 457,948 | 447,496 |
Expected credit losses allowances, Beginning balance | 15,102 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 14,509 | 15,102 |
Stage 2 [Member] | Mortgages [Member] | Collective [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 447,496 | 469,349 |
Transfers | ||
Transfers to stage 2 | 481,646 | 87,473 |
Transfers to stage 3 | ||
Transfers to stage 3 | (333,706) | (54,488) |
Transfers to stage 1 | (361,293) | (162,432) |
Transfers to stage 2 | 250,896 | 79,159 |
Transfers to stage 1 | ||
Net changes on financial assets | (35,200) | 34,653 |
Writte-off | ||
Foreign exchange adjustments and others | 8,109 | (6,218) |
Gross carrying amount, Ending balance | 457,948 | 447,496 |
Expected credit losses allowances, Beginning balance | 15,102 | 20,227 |
Transfers | ||
Transfers to stage 2 | 3,318 | 3,846 |
Transfers to stage 3 | ||
Transfers to stage 3 | (12,598) | (2,518) |
Transfers to stage 1 | (13,849) | (6,255) |
Transfers to stage 2 | 29,303 | 2,296 |
Transfers to stage 1 | ||
Net changes of the exposure and modifications in the credit risk | (6,825) | 575 |
Writte-off | ||
Foreign exchange adjustments and others | 58 | (3,069) |
Expected credit losses allowances, Ending balance | 14,509 | 15,102 |
Stage 3 [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 1,503,116 | |
Transfers | ||
Gross carrying amount, Ending balance | 1,634,146 | 1,503,116 |
Expected credit losses allowances, Beginning balance | 603,660 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 641,565 | 603,660 |
Stage 3 [Member] | Mortgages [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 444,523 | |
Transfers | ||
Gross carrying amount, Ending balance | 529,081 | 444,523 |
Expected credit losses allowances, Beginning balance | 67,162 | |
Transfers | ||
Expected credit losses allowances, Ending balance | 78,104 | 67,162 |
Stage 3 [Member] | Mortgages [Member] | Collective [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 444,523 | 436,317 |
Transfers | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 60,329 | 64,949 |
Transfers to stage 3 | 333,706 | 54,488 |
Transfers to stage 1 | ||
Transfers to stage 2 | (250,896) | (79,159) |
Transfers to stage 1 | (2,338) | (2,612) |
Net changes on financial assets | (24,539) | 10,215 |
Writte-off | (34,184) | (31,664) |
Foreign exchange adjustments and others | 2,480 | (8,011) |
Gross carrying amount, Ending balance | 529,081 | 444,523 |
Expected credit losses allowances, Beginning balance | 67,162 | 73,190 |
Transfers | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 311 | 9,060 |
Transfers to stage 3 | 12,598 | 8,056 |
Transfers to stage 1 | ||
Transfers to stage 2 | (29,303) | (10,185) |
Transfers to stage 1 | (193) | (232) |
Net changes of the exposure and modifications in the credit risk | 57,300 | (1,784) |
Writte-off | (34,184) | (13,548) |
Foreign exchange adjustments and others | 4,413 | 2,605 |
Expected credit losses allowances, Ending balance | $ 78,104 | $ 67,162 |
Loans and Accounts Receivable_8
Loans and Accounts Receivable at Amortised Cost (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | $ 30,213,414 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 32,671,515 | $ 30,213,414 | ||
Expected credit losses allowances, Beginning balance | 882,414 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 896,095 | 882,414 | ||
Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 4,876,289 | 4,557,692 | ||
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | ||||
Transfers to stage 3 | ||||
Transfers to stage 1 | ||||
Transfers to stage 2 | ||||
Transfers to stage 1 | ||||
Net changes on financial assets | 382,079 | 843,530 | ||
Writte-off | (223,919) | (115,933) | ||
Foreign exchange adjustments and others | 65,246 | (409,000) | ||
Gross carrying amount, Ending balance | 5,546,195 | 4,876,289 | ||
Expected credit losses allowances, Beginning balance | 301,014 | [1] | 297,359 | |
Transfers | ||||
Transfers to stage 2 | 81,199 | 12,538 | ||
Transfers to stage 3 | 10,066 | 14,880 | ||
Transfers to stage 3 | 32,425 | 6,808 | ||
Transfers to stage 1 | (24,565) | (3,570) | ||
Transfers to stage 2 | (14,912) | (6,164) | ||
Transfers to stage 1 | (186) | (12) | ||
Net changes of the exposure and modifications in the credit risk | 125,227 | 37,404 | ||
Writte-off | (223,919) | (64,506) | ||
Foreign exchange adjustments and others | 2,118 | (10,395) | ||
Expected credit losses allowances, Ending balance | 288,467 | 301,014 | [1] | |
Stage 1 [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 26,913,508 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 29,041,636 | 26,913,508 | ||
Expected credit losses allowances, Beginning balance | 153,640 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 133,269 | 153,640 | ||
Stage 1 [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 4,341,740 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 4,963,047 | 4,341,740 | ||
Expected credit losses allowances, Beginning balance | 70,904 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 67,396 | 70,904 | ||
Stage 1 [Member] | Collective [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 4,727,464 | 3,978,393 | ||
Transfers | ||||
Transfers to stage 2 | (358,403) | (46,936) | ||
Transfers to stage 3 | (25,210) | (33,161) | ||
Transfers to stage 3 | ||||
Transfers to stage 1 | 130,611 | 29,777 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | 514 | 37 | ||
Net changes on financial assets | 430,777 | 766,069 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 57,294 | (352,439) | ||
Gross carrying amount, Ending balance | 4,963,047 | 4,727,464 | ||
Expected credit losses allowances, Beginning balance | 75,495 | [1] | 72,712 | |
Transfers | ||||
Transfers to stage 2 | (28,717) | (2,117) | ||
Transfers to stage 3 | (1,633) | (1,431) | ||
Transfers to stage 3 | ||||
Transfers to stage 1 | 7,941 | 1,320 | ||
Transfers to stage 2 | ||||
Transfers to stage 1 | 47 | 6 | ||
Net changes of the exposure and modifications in the credit risk | 15,641 | 3,782 | ||
Writte-off | ||||
Foreign exchange adjustments and others | (1,378) | (3,368) | ||
Expected credit losses allowances, Ending balance | 67,396 | 75,495 | [1] | |
Stage 2 [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 1,796,790 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 1,995,733 | 1,796,790 | ||
Expected credit losses allowances, Beginning balance | 125,114 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 121,261 | 125,114 | ||
Stage 2 [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 249,039 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 292,718 | 249,039 | ||
Expected credit losses allowances, Beginning balance | 54,372 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 50,808 | 54,372 | ||
Stage 2 [Member] | Collective [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 295,132 | 257,580 | ||
Transfers | ||||
Transfers to stage 2 | 358,403 | 46,936 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (248,494) | (19,327) | ||
Transfers to stage 1 | (130,611) | (29,777) | ||
Transfers to stage 2 | 56,489 | 17,988 | ||
Transfers to stage 1 | ||||
Net changes on financial assets | (45,093) | 1,063 | ||
Writte-off | ||||
Foreign exchange adjustments and others | 6,892 | (25,424) | ||
Gross carrying amount, Ending balance | 292,718 | 295,132 | ||
Expected credit losses allowances, Beginning balance | 60,467 | [1] | 54,557 | |
Transfers | ||||
Transfers to stage 2 | 109,916 | 14,655 | ||
Transfers to stage 3 | ||||
Transfers to stage 3 | (78,909) | (3,913) | ||
Transfers to stage 1 | (32,506) | (4,890) | ||
Transfers to stage 2 | 17,002 | 2,943 | ||
Transfers to stage 1 | ||||
Net changes of the exposure and modifications in the credit risk | (25,712) | (8,572) | ||
Writte-off | ||||
Foreign exchange adjustments and others | 550 | (408) | ||
Expected credit losses allowances, Ending balance | 50,808 | 60,467 | [1] | |
Stage 3 [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 1,503,116 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 1,634,146 | 1,503,116 | ||
Expected credit losses allowances, Beginning balance | 603,660 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 641,565 | 603,660 | ||
Stage 3 [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 285,510 | |||
Transfers | ||||
Gross carrying amount, Ending balance | 290,430 | 285,510 | ||
Expected credit losses allowances, Beginning balance | 159,066 | |||
Transfers | ||||
Expected credit losses allowances, Ending balance | 170,263 | 159,066 | ||
Stage 3 [Member] | Collective [Member] | Consumer Loans [Member] | ||||
Statement Line Items [Line Items] | ||||
Gross carrying amount, Beginning balance | 300,193 | 321,719 | ||
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 25,210 | 33,161 | ||
Transfers to stage 3 | 248,494 | 19,327 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (56,489) | (17,988) | ||
Transfers to stage 1 | (514) | (37) | ||
Net changes on financial assets | (3,605) | 76,398 | ||
Writte-off | (223,919) | (115,933) | ||
Foreign exchange adjustments and others | 1,060 | (31,137) | ||
Gross carrying amount, Ending balance | 290,430 | 300,193 | ||
Expected credit losses allowances, Beginning balance | 165,052 | [1] | 170,090 | |
Transfers | ||||
Transfers to stage 2 | ||||
Transfers to stage 3 | 11,699 | 16,311 | ||
Transfers to stage 3 | 111,334 | 10,721 | ||
Transfers to stage 1 | ||||
Transfers to stage 2 | (31,914) | (9,107) | ||
Transfers to stage 1 | (233) | (18) | ||
Net changes of the exposure and modifications in the credit risk | 135,298 | 42,194 | ||
Writte-off | (223,919) | (64,506) | ||
Foreign exchange adjustments and others | 2,946 | (6,619) | ||
Expected credit losses allowances, Ending balance | $ 170,263 | $ 165,052 | [1] | |
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. |
Loans and Accounts Receivable_9
Loans and Accounts Receivable at Amortised Cost (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Loans and Accounts Receivable at Amortised Cost (Textual) | |
Increase of provision for loan losses | $ 6,998 |
Loans and Accounts Receivabl_10
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | $ 68,694 | $ 107,998 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | (42,575) | |
Write-off | ||
Foreign Exchange adjustments and others | 958 | 3,271 |
Gross carrying amount, Ending balance | 66,166 | 68,694 |
ECL allowance, Beginning balance | 106 | 97 |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | 9 | |
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | 47 | |
Write-off | ||
Foreign Exchange adjustments and others | (52) | |
ECL allowance, Ending balance | 101 | 106 |
Stage 1 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 63,745 | |
Transfers to stage 1 | ||
Transfers to stage 2 | (6,697) | |
Transfers to stage 3 | ||
Net changes on financial assets | 1,428 | (40,754) |
Write-off | ||
Foreign Exchange adjustments and others | 993 | 3,198 |
Gross carrying amount, Ending balance | 66,166 | 63,745 |
ECL allowance, Beginning balance | 88 | 97 |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | (17) | |
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | 65 | 8 |
Write-off | ||
Foreign Exchange adjustments and others | (52) | |
ECL allowance, Ending balance | 101 | 88 |
Stage 2 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 4,949 | |
Transfers to stage 1 | ||
Transfers to stage 2 | 6,697 | |
Transfers to stage 3 | ||
Net changes on financial assets | (4,914) | (1,821) |
Write-off | ||
Foreign Exchange adjustments and others | (35) | 73 |
Gross carrying amount, Ending balance | 4,949 | |
ECL allowance, Beginning balance | 18 | |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | 26 | |
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | (18) | (8) |
Write-off | ||
Foreign Exchange adjustments and others | ||
ECL allowance, Ending balance | 18 | |
Stage 3 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Gross carrying amount, Beginning balance | 63,745 | |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | (3,486) | |
Write-off | ||
Foreign Exchange adjustments and others | ||
Gross carrying amount, Ending balance | ||
ECL allowance, Beginning balance | ||
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | ||
Write-off | ||
Foreign Exchange adjustments and others | ||
ECL allowance, Ending balance |
Debt Instruments at Fair Valu_3
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | $ 4,010,272 | $ 2,394,323 |
Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 19,556 | 24,827 |
Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 623,159 | 448,460 |
Securities Sold Under Repurchase Agreements [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 131 | 128 |
Securities Sold Under Repurchase Agreements [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | ||
Time Deposits In Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 398 | 2,693 |
Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 16,748 | 19,227 |
Other Instruments Issued in The Country [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 2,410 | 2,907 |
Foreign Central Banks And Government Securities [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 197,685 | 280,622 |
Other Foreign Financial Instruments [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 425,474 | 167,838 |
Chilean Central Bank And Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 3,367,557 | 1,921,036 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 272,802 | 657,096 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 1,186,724 | 56,719 |
Chilean Central Bank And Government Securities [Member] | Other Chilean Central Bank And Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | 1,908,031 | 1,207,221 |
Chilean Central Bank And Government Securities [Member] | Securities Sold Under Repurchase Agreements [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments at fair value through other comprehensive income | $ 379,294 | $ 16,109 |
Debt Instruments at Fair Valu_4
Debt Instruments at Fair Value Through Other Comprehensive Income (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | ||
Beginning balance | $ 2,394,323 | $ 2,574,546 |
New assets purchased | 7,573,665 | 5,037,857 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | (5,694,456) | (5,604,114) |
Changes due to modifications not derecognised | 394,648 | |
Write-off | ||
Foreign Exchange adjustments and others | (657,908) | 386,034 |
Ending balance | 4,010,272 | 2,394,323 |
ECL [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 258 | 324 |
New assets purchased | 816 | 634 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | (614) | (705) |
Changes due to modifications not derecognised | 67 | |
Write-off | ||
Foreign Exchange adjustments and others | (71) | 5 |
Ending balance | 456 | 258 |
Expected Credit Losses Stage1 [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 2,394,323 | 2,574,546 |
New assets purchased | 7,573,665 | 5,037,857 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | (5,694,456) | (5,604,114) |
Changes due to modifications not derecognised | 394,648 | |
Write-off | ||
Foreign Exchange adjustments and others | (657,908) | 386,034 |
Ending balance | 4,010,272 | 2,394,323 |
Expected Credit Losses Stage1 [Member] | ECL [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 258 | 324 |
New assets purchased | 816 | 634 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | (614) | (705) |
Changes due to modifications not derecognised | 67 | |
Write-off | ||
Foreign Exchange adjustments and others | (71) | 5 |
Ending balance | 456 | 258 |
Expected Credit Losses Stage2 [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | ||
Changes due to modifications not derecognised | ||
Write-off | ||
Foreign Exchange adjustments and others | ||
Ending balance | ||
Expected Credit Losses Stage2 [Member] | ECL [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | ||
Changes due to modifications not derecognised | ||
Write-off | ||
Foreign Exchange adjustments and others | ||
Ending balance | ||
Expected Credit Losses Stage3 [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | ||
Changes due to modifications not derecognised | ||
Write-off | ||
Foreign Exchange adjustments and others | ||
Ending balance | ||
Expected Credit Losses Stage3 [Member] | ECL [Member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognised or matured (excluding write offs) | ||
Changes due to modifications not derecognised | ||
Write-off | ||
Foreign Exchange adjustments and others | ||
Ending balance |
Debt Instruments at Fair Valu_5
Debt Instruments at Fair Value Through Other Comprehensive Income (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instruments At Fair Value Through Other Comprehensive Income | |||
Sale of available for sale investments generating realized profits | $ 5,781,636 | $ 3,505,266 | $ 6,469,344 |
Realized profits | 63,828 | 8,802 | 4,867 |
Sale of available for sale investments generating realized losses | 607,349 | 709,371 | 466,732 |
Realized losses | $ 156 | $ 6,004 | $ 3 |
Debt Instruments at Fair Valu_6
Debt Instruments at Fair Value Through Other Comprehensive Income (Details 3) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | $ 16,767 | $ 21,921 |
Fair value | 19,556 | 24,827 |
Unrealized profit | 2,789 | 3,114 |
Unrealized loss | (209) | |
Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 611,488 | 454,408 |
Fair value | 623,159 | 448,459 |
Unrealized profit | 24,190 | 602 |
Unrealized loss | (12,519) | (6,575) |
Available for Sale Investments [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 3,981,088 | 2,387,898 |
Fair value | 4,010,272 | 2,394,322 |
Unrealized profit | 68,818 | 18,112 |
Unrealized loss | (39,634) | (11,688) |
Time Deposits In Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 398 | 2,691 |
Fair value | 398 | 2,693 |
Unrealized profit | 1 | |
Unrealized loss | ||
Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 15,962 | 19,010 |
Fair value | 16,748 | 19,227 |
Unrealized profit | 786 | 426 |
Unrealized loss | (209) | |
Chilean Financial Institution Bonds [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Chilean Corporate Bonds [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Instruments Issued in The Country [Member] | Other Chilean Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 407 | 220 |
Fair value | 2,410 | 2,907 |
Unrealized profit | 2,003 | 2,687 |
Unrealized loss | ||
Foreign Central Banks And Government Securities [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 198,020 | 280,021 |
Fair value | 197,685 | 280,622 |
Unrealized profit | 11,110 | 602 |
Unrealized loss | (11,445) | |
Other Foreign Financial Securities [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 413,468 | 174,387 |
Fair value | 425,474 | 167,837 |
Unrealized profit | 13,080 | |
Unrealized loss | (1,074) | (6,575) |
Chilean Central Bank And Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 3,352,833 | 1,911,569 |
Fair value | 3,367,557 | 1,921,035 |
Unrealized profit | 41,839 | 14,397 |
Unrealized loss | (27,115) | (4,904) |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 270,979 | 658,013 |
Fair value | 272,802 | 657,096 |
Unrealized profit | 3,600 | 3,698 |
Unrealized loss | (1,777) | (4,615) |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 1,186,487 | 56,737 |
Fair value | 1,186,724 | 56,719 |
Unrealized profit | 237 | 10 |
Unrealized loss | (27) | |
Chilean Central Bank And Government Securities [Member] | Other Chilean Central Bank And Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 1,895,367 | 1,196,819 |
Fair value | 1,908,031 | 1,207,220 |
Unrealized profit | 38,002 | 10,689 |
Unrealized loss | $ (25,338) | $ (262) |
Debt Instruments at Fair Valu_7
Debt Instruments at Fair Value Through Other Comprehensive Income (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instruments at Fair Value Through Other Comprehensive Income (Textual) | |||
Available for sale investments | $ 2,394,323 | $ 2,574,546 | |
Bank maintains guarantees amount | $ 390,954 | 98,832 | |
Non-controlling Interest [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Textual) | |||
Cumulative net unrealised income net of tax, available-for-sale financial assets | 1,049 | ||
Total Attributable To Shareholders Of The Bank [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Textual) | |||
Cumulative net unrealised income net of tax, available-for-sale financial assets | 28,135 | ||
Comder Contraparte Central S.A. [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Textual) | |||
Available for sale investments | 65,140 | $ 42,910 | |
London Clearing House (LCH) [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Textual) | |||
Available for sale investments | $ 73,109 |
Investments in Associates and_3
Investments in Associates and other Companies (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Disclosure of associates [line items] | |||||||
Carrying value | $ 10,177 | $ 32,003 | $ 27,585 | $ 23,780 | |||
Profit and loss | $ 1,146 | $ 1,325 | $ 1,144 | ||||
Redbanc S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [1] | 33.43% | 33.43% | ||||
Carrying value | [1] | $ 2,822 | $ 2,537 | ||||
Profit and loss | [1] | ||||||
Transbank S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [1] | 25.00% | 25.00% | ||||
Carrying value | [1] | $ 14,534 | |||||
Profit and loss | [1] | ||||||
Centro de Compensacion Automatizado S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 33.33% | 33.33% | 33.33% | ||||
Carrying value | $ 1,894 | $ 1,589 | |||||
Profit and loss | $ 293 | $ 305 | $ 236 | ||||
Sociedad Interbancaria de Deposito de Valores S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 29.29% | 29.29% | 29.29% | ||||
Carrying value | $ 1,233 | $ 1,087 | |||||
Profit and loss | $ 252 | $ 223 | $ 235 | ||||
Camara de Compensacion de Alto Valor S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [2] | 15.00% | 15.00% | 15.00% | |||
Carrying value | [2] | $ 945 | $ 909 | ||||
Profit and loss | [2] | $ 29 | $ 58 | $ 66 | |||
Administrador Financiero del Transantiago S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 20.00% | 20.00% | 20.00% | ||||
Carrying value | $ 3,680 | $ 3,098 | |||||
Profit and loss | $ 390 | $ 582 | $ 317 | ||||
Sociedad Nexus S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [1] | 12.90% | 12.90% | ||||
Carrying value | [1] | $ 2,279 | $ 1,911 | ||||
Profit and loss | [1] | ||||||
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 12.07% | 12.48% | [3],[4] | 12.48% | [3],[4] | ||
Carrying value | [3],[4] | $ 1,491 | $ 1,489 | ||||
Profit and loss | $ 60 | 57 | [3],[4] | 115 | [2],[3],[4] | ||
Bladex [Member] | |||||||
Disclosure of associates [line items] | |||||||
Carrying value | 136 | ||||||
Profit and loss | 13 | 19 | 25 | ||||
Stock Exchanges [Member] | |||||||
Disclosure of associates [line items] | |||||||
Carrying value | 287 | ||||||
Profit and loss | 109 | 148 | 150 | ||||
Others [Member] | |||||||
Disclosure of associates [line items] | |||||||
Carrying value | 8 | 8 | |||||
Profit and loss | (67) | ||||||
Associated Companies [Member] | |||||||
Disclosure of associates [line items] | |||||||
Carrying value | 10,169 | 27,154 | |||||
Profit and loss | $ 1,024 | $ 1,225 | $ 969 | ||||
[1] | The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, therefore, the treatment established in IFRS 5 "Non-current assets held for sale and discontinued operations" has been applied, on the participation of said companies, which is described in Note 1 u) and Note 39. | ||||||
[2] | In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA", the Banks share increased to 15.00%. | ||||||
[3] | During 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Market infrastructure services OTC S,A". the Bank's share in those companies increased to 14.93% and 12.07% respectively. | ||||||
[4] | During 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA'' and "Servicios de Infraestructura de Mercado OTC S,A", the Banks share in those companies increased to 14.84% and 11.93% respectively. |
Investments in Associates and_4
Investments in Associates and other Companies (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of associates [line items] | ||
Investment value | $ 482 | $ 483 |
Bladex [Member] | ||
Disclosure of associates [line items] | ||
Investment value | 328 | 329 |
Stock Exchanges [Member] | ||
Disclosure of associates [line items] | ||
Investment value | $ 154 | $ 154 |
Investments in Associates and_5
Investments in Associates and other Companies (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||
Assets | $ 1,362,868 | $ 1,059,806 | $ 962,537 |
Liabilities | 1,201,475 | 919,068 | 843,284 |
Equity | 142,750 | 119,143 | 102,607 |
Net income for the year | 18,643 | 21,595 | 16,646 |
Redbanc S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 23,413 | 20,825 | 21,235 |
Liabilities | 14,106 | 12,469 | 13,751 |
Equity | 8,441 | 7,505 | 6,428 |
Net income for the year | 866 | 851 | 1,056 |
Transbank S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 1,217,448 | 904,558 | 822,487 |
Liabilities | 1,133,441 | 835,200 | 765,683 |
Equity | 70,605 | 56,888 | 48,709 |
Net income for the year | 13,402 | 12,470 | 8,095 |
Centro de Compensacion Automatizado S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 8,550 | 7,073 | 6,871 |
Liabilities | 1,998 | 1,480 | 2,174 |
Equity | 5,671 | 4,677 | 3,989 |
Net income for the year | 881 | 916 | 708 |
Sociedad Interbancaria de Deposito de Valores S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 5,074 | 4,392 | 3,720 |
Liabilities | 4 | 230 | 60 |
Equity | 4,209 | 3,400 | 2,858 |
Net income for the year | 861 | 762 | 802 |
Camara de Compensacion de Alto Valor S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 7,372 | 6,728 | 6,338 |
Liabilities | 986 | 622 | 500 |
Equity | 6,193 | 5,722 | 5,399 |
Net income for the year | 193 | 384 | 439 |
Administrador Financiero del Transantiago S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 54,712 | 55,818 | 51,304 |
Liabilities | 34,787 | 37,419 | 35,814 |
Equity | 17,978 | 15,490 | 13,907 |
Net income for the year | 1,947 | 2,909 | 1,583 |
Sociedad Nexus S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 31,147 | 35,139 | 32,669 |
Liabilities | 13,471 | 18,335 | 18,888 |
Equity | 17,660 | 13,955 | 10,354 |
Net income for the year | 16 | 2,849 | 3,427 |
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 15,152 | 25,273 | 17,913 |
Liabilities | 2,682 | 13,313 | 6,414 |
Equity | 11,993 | 11,506 | 10,963 |
Net income for the year | $ 477 | $ 454 | $ 536 |
Investments in Associates and_6
Investments in Associates and other Companies (Details 3) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments In Associates And Other Companies | |||
Opening balance as of January 1, | $ 32,003 | $ 27,585 | $ 23,780 |
Acquisition of investments | 3 | ||
Sale of investments | |||
Participation in income | 1,146 | 1,325 | 1,144 |
Dividends received | (130) | (38) | (116) |
Other adjustments | (22,842) | 3,131 | 2,774 |
Total | $ 10,177 | $ 32,003 | $ 27,585 |
Intangible Assets (Details)
Intangible Assets (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | $ 73,389 | $ 66,923 |
Gross Carrying Amount [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | 250,002 | 218,415 |
Accumulated Depreciation and Amortisation [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | $ (176,613) | $ (151,492) |
Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Average remaining useful life | 1 year | |
Net balance | $ 82 | |
Licenses [Member] | Gross Carrying Amount [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | 35,997 | 37,224 |
Licenses [Member] | Accumulated Depreciation and Amortisation [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | $ (35,997) | $ (37,142) |
Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Average remaining useful life | 2 years | 2 years |
Net balance | $ 73,389 | $ 66,841 |
Software development [Member] | Gross Carrying Amount [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | 214,005 | 181,191 |
Software development [Member] | Accumulated Depreciation and Amortisation [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net balance | $ (140,616) | $ (114,350) |
Intangible Assets (Details 1)
Intangible Assets (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Gross, beginning balance | $ 218,415 | $ 197,057 |
Acquisitions | 32,860 | 29,562 |
Disposals and impairment | (1,227) | (8,204) |
Other | (46) | |
Gross, ending balance | 250,002 | 218,415 |
Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Gross, beginning balance | 37,224 | 37,224 |
Acquisitions | ||
Disposals and impairment | (1,227) | |
Other | ||
Gross, ending balance | 35,997 | 37,224 |
Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Gross, beginning balance | 181,191 | 159,833 |
Acquisitions | 32,860 | 29,562 |
Disposals and impairment | (8,204) | |
Other | (46) | |
Gross, ending balance | $ 214,005 | $ 181,191 |
Intangible Assets (Details 2)
Intangible Assets (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Accumulated amortization, beginning balance | $ (151,492) | $ (133,840) |
Year's amortization | (26,348) | (24,293) |
Other changes | 1,227 | 6,641 |
Accumulated amortization ,ending balance | (176,613) | (151,492) |
Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Accumulated amortization, beginning balance | (37,142) | (36,918) |
Year's amortization | (82) | (224) |
Other changes | 1,227 | |
Accumulated amortization ,ending balance | (35,997) | (37,142) |
Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Accumulated amortization, beginning balance | (114,350) | (96,922) |
Year's amortization | (26,266) | (24,069) |
Other changes | 6,641 | |
Accumulated amortization ,ending balance | $ (140,616) | $ (114,350) |
Fixed Assets and Right of Use_3
Fixed Assets and Right of Use Assets and Lease Liability (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Net opening balance | $ 253,586 | $ 238,326 |
Total | 252,346 | 253,586 |
Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 585,342 | 544,052 |
Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | (332,996) | (290,466) |
Land and buildings [Member] | ||
Statement Line Items [Line Items] | ||
Net opening balance | 174,758 | 159,352 |
Total | 174 | 174,758 |
Land and buildings [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 295 | 289,568 |
Land and buildings [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | (121,338) | (114,810) |
Equipment [Member] | ||
Statement Line Items [Line Items] | ||
Net opening balance | 56,865 | 63,516 |
Total | 55,494 | 56,865 |
Equipment [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 219,600 | 192,328 |
Equipment [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | (164,106) | (135,463) |
Other [Member] | ||
Statement Line Items [Line Items] | ||
Net opening balance | 21,963 | 15,458 |
Total | 22,206 | 21,963 |
Other [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 69,758 | 62,156 |
Other [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | $ (47,552) | $ (40,193) |
Fixed Assets and Right of Use_4
Fixed Assets and Right of Use Assets and Lease Liability (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Statement Line Items [Line Items] | |||
Balances beginning | $ 544,052 | $ 484,215 | |
Additions | 50,969 | 66,739 | |
Disposals | (8,666) | (6,863) | |
Impairment due to damage | (1,013) | [1] | (39) |
Other | |||
Balances at ending | 585,342 | 544,052 | |
Land and buildings [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | 289,568 | 259,316 | |
Additions | 10,065 | 30,396 | |
Disposals | (2,636) | (144) | |
Impairment due to damage | (1,013) | [1] | |
Other | |||
Balances at ending | 295,984 | 289,568 | |
Equipment [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | 192,328 | 169,286 | |
Additions | 33,302 | 27,697 | |
Disposals | (6,030) | (4,616) | |
Impairment due to damage | [1] | (39) | |
Other | |||
Balances at ending | 219,600 | 192,328 | |
Other [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | 62,156 | 55,613 | |
Additions | 7,602 | 8,646 | |
Disposals | 2,103 | ||
Impairment due to damage | [1] | ||
Other | |||
Balances at ending | $ 69,758 | $ 62,156 | |
[1] | Banco Santander-Chile have recognized in its consolidated financial statements as of December 31, 2019 an impairment of $ 1,013 million, due to social unrest in the country. |
Fixed Assets and Right of Use_5
Fixed Assets and Right of Use Assets and Lease Liability (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Line Items [Line Items] | |||
Balances beginning | $ (290,466) | $ (241,668) | |
Depreciation charges in the period | (52,855) | (54,987) | $ (55,623) |
Sales and disposals in the period | 10,815 | 82 | |
Other | (490) | ||
Balances at ending | (332,996) | (290,466) | (241,668) |
Land and buildings [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | (114,810) | (97,267) | |
Depreciation charges in the period | (16,018) | (17,585) | |
Sales and disposals in the period | 9,490 | 42 | |
Other | |||
Balances at ending | (121,338) | (114,810) | (97,267) |
Equipment [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | (135,463) | (109,843) | |
Depreciation charges in the period | (29,968) | (25,660) | |
Sales and disposals in the period | 1,325 | 40 | |
Other | |||
Balances at ending | (164,106) | (135,463) | (109,843) |
Other [Member] | |||
Statement Line Items [Line Items] | |||
Balances beginning | (40,193) | (34,558) | |
Depreciation charges in the period | (6,869) | (5,635) | |
Sales and disposals in the period | |||
Other | (490) | ||
Balances at ending | $ (47,552) | $ (40,193) | $ (34,558) |
Fixed Assets and Right of Use_6
Fixed Assets and Right of Use Assets and Lease Liability (Details 3) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
First application | $ 208,797 | |
Total | 155,987 | |
Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 181,325 | |
Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | (25,338) | |
Land and buildings [Member] | ||
Statement Line Items [Line Items] | ||
First application | 154,284 | |
Total | 155,987 | |
Land and buildings [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | 181,325 | |
Land and buildings [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | (25,338) | |
Equipment [Member] | ||
Statement Line Items [Line Items] | ||
First application | ||
Equipment [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | ||
Equipment [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total | ||
Other [Member] | ||
Statement Line Items [Line Items] | ||
First application | ||
Total | ||
Other [Member] | Gross balance [Member] | ||
Statement Line Items [Line Items] | ||
Total | ||
Other [Member] | Accumulated depreciation [Member] | ||
Statement Line Items [Line Items] | ||
Total |
Fixed Assets and Right of Use_7
Fixed Assets and Right of Use Assets and Lease Liability (Details 4) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Statement Line Items [Line Items] | |
Balances beginning | $ 154,284 |
Additions | 46,423 |
Disposals | (17,669) |
Impairment due to damage | (1,713) |
Other | |
Balances at ending | 181,325 |
Land and buildings [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | 154,284 |
Additions | 46,423 |
Disposals | (17,669) |
Impairment due to damage | (1,713) |
Other | |
Balances at ending | 181,325 |
Leasehold improvements [member] | |
Statement Line Items [Line Items] | |
Balances beginning | |
Additions | |
Disposals | |
Impairment due to damage | |
Other | |
Balances at ending | |
Equipment [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | 122,658 |
Additions | 7,013 |
Disposals | (2,636) |
Impairment due to damage | |
Other | |
Balances at ending | 127,035 |
Other [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | |
Additions | |
Disposals | |
Impairment due to damage | |
Other | |
Balances at ending |
Fixed Assets and Right of Use_8
Fixed Assets and Right of Use Assets and Lease Liability (Details 5) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Statement Line Items [Line Items] | |
Balances beginning | |
Amortization for the period | (26,889) |
Sales and disposals during the period | 1,551 |
Transfers | |
Others | |
Balances at ending | (25,338) |
Land and buildings [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | |
Amortization for the period | (26,889) |
Sales and disposals during the period | 1,551 |
Transfers | |
Others | |
Balances at ending | (25,338) |
Leasehold improvements [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | (68,145) |
Amortization for the period | (7,898) |
Sales and disposals during the period | 1,936 |
Transfers | |
Others | |
Balances at ending | (74,107) |
Equipment [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | |
Amortization for the period | |
Sales and disposals during the period | |
Transfers | |
Others | |
Balances at ending | |
Other [Member] | |
Statement Line Items [Line Items] | |
Balances beginning | |
Amortization for the period | |
Sales and disposals during the period | |
Transfers | |
Others | |
Balances at ending |
Fixed Assets and Right of Use_9
Fixed Assets and Right of Use Assets and Lease Liability (Details 6) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Total | $ 158,494 | |
Lease liabilities [member] | ||
Statement Line Items [Line Items] | ||
Total | $ 158,494 |
Fixed Assets and Right of Us_10
Fixed Assets and Right of Use Assets and Lease Liability (Details 7) $ in Millions | 12 Months Ended |
Dec. 31, 2018CLP ($) | |
Statement Line Items [Line Items] | |
Ending balance | |
Operating Lease Liability [Member] | |
Statement Line Items [Line Items] | |
Beginning balance | 173,602 |
Discounted using the lessee´s incremental borrowing rate of at the date of initial application | 14,726 |
Lease liabilities recognised due to IFRS 16 implementation | 139,558 |
Ending balance | $ 154,284 |
Fixed Assets and Right of Us_11
Fixed Assets and Right of Use Assets and Lease Liability (Details 8) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fixed Assets And Right Of Use Assets And Lease Liability | ||
Depreciation | $ (26,889) | |
Interests | (2,965) | |
Short term lease | (4,177) | |
Total | $ (34,031) |
Fixed Assets and Right of Us_12
Fixed Assets and Right of Use Assets and Lease Liability (Details 9) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Total | $ 158,494 | |
Due Within 1 Year [Member] | ||
Statement Line Items [Line Items] | ||
Total | 26,061 | |
Due After 1 Year But Within 2 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 24,311 | |
Due After 2 Years But Within 3 years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 21,667 | |
Due After 3 Years But Within 4 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 19,411 | |
Due After 4 Years But Within 5 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 16,982 | |
Due After 5 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | $ 50,062 |
Fixed Assets and Right of Us_13
Fixed Assets and Right of Use Assets and Lease Liability (Details 10) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Total | $ 4,174 | $ 4,950 |
Due Within 1 Year [Member] | ||
Statement Line Items [Line Items] | ||
Total | 603 | 469 |
Due After 1 Year But Within 2 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 598 | 882 |
Due After 2 Years But Within 3 years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 500 | 469 |
Due After 3 Years But Within 4 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 498 | 460 |
Due After 4 Years But Within 5 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | 412 | 428 |
Due After 5 Years [Member] | ||
Statement Line Items [Line Items] | ||
Total | $ 1,563 | $ 2,242 |
Fixed Assets and Right of Us_14
Fixed Assets and Right of Use Assets and Lease Liability (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fixed Assets And Right Of Use Assets And Lease Liability | ||
Due to impairment | $ 1,013 | $ 39 |
Current and Deferred taxes (Det
Current and Deferred taxes (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Summary of current tax liabilities (assets) | |||
Current tax (assets) | $ (11,648) | ||
Current tax liabilities | 8,093 | ||
Total tax payable (recoverable) | (11,648) | 8,093 | |
(Assets) liabilities current taxes detail (net) | |||
Income tax, tax rate | 153,424 | 196,527 | $ 145,112 |
Minus: | |||
Provisional monthly payments | (159,943) | (186,060) | |
Credit for training expenses | (2,145) | (1,937) | |
Land taxes leasing | |||
Grant credits | (1,149) | (1,320) | |
Other | (1,835) | 883 | |
Total tax payable | $ (11,648) | $ 8,093 |
Current and Deferred taxes (D_2
Current and Deferred taxes (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax expense | |||
Current tax | $ 153,424 | $ 196,527 | $ 145,112 |
Credits (debits) for deferred taxes | |||
Origination and reversal of temporary differences | 37,432 | (25,517) | (6,751) |
Valuation provision | (56) | 5,955 | |
Subtotals | 190,856 | 170,954 | 144,316 |
Tax for rejected expenses (Article No21) | 927 | 1,110 | 610 |
Other | (16,709) | (4,920) | 105 |
Net charges for income tax expense | $ 175,074 | $ 167,144 | $ 145,031 |
Current and Deferred taxes (D_3
Current and Deferred taxes (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Current and Deferred Taxes [Abstract] | ||||
Tax calculated over profit before tax | $ 214,566 | $ 207,046 | $ 183,671 | |
Price level restatement for tax purposes | [1] | (50,297) | (39,494) | (21,829) |
Single penalty tax (rejected expenses) | 927 | 1,110 | 610 | |
Effect of tax reform changes on deferred tax | (20,600) | |||
Real estate taxes | ||||
Other | 9,878 | (1,518) | 3,179 | |
Effective rates and expenses for income tax | $ 175,074 | $ 167,144 | $ 145,031 | |
Tax calculated over profit before tax | 27.00% | 27.00% | 25.50% | |
Price level restatement for tax purposes | [1] | (6.33%) | (5.15%) | (3.03%) |
Single penalty tax (rejected expenses) | 0.12% | 0.14% | 0.08% | |
Effect of tax reform changes on deferred tax | (2.86%) | |||
Real estate taxes | ||||
Other | 1.24% | (0.20%) | 0.44% | |
Effective rates and expenses for income tax | 22.03% | 21.80% | 20.13% | |
[1] | Mainly corresponds to the permanent differences originated from the Own Tax Monetary Correction and the effect of the bonds received to article 104 of LIR. |
Current and Deferred taxes (D_4
Current and Deferred taxes (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax assets | ||
Debt instruments at FVOCI | $ 8,074 | $ 1,166 |
Cash flow hedges | 10,918 | 65 |
Total deferred tax assets recognised through other comprehensive income | 18,992 | 1,231 |
Deferred tax liabilities | ||
Available for sale investments | ||
Debt instruments at FVOCI | (15,830) | (2,976) |
Cash flow hedges | (2,711) | |
Total deferred tax liabilities recognised through other comprehensive income | (15,830) | (5,687) |
Net deferred tax balances in equity | 3,162 | (4,456) |
Deferred taxes in equity attributable to shareholders of the Bank | 3,444 | (4,102) |
Deferred tax in equity attributable to non-controlling interests | $ (282) | $ (354) |
Current and Deferred taxes (D_5
Current and Deferred taxes (Details 4) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets | ||
Interests and adjustments | $ 9,531 | $ 9,384 |
Non-recurring charge-offs | 15,325 | 13,389 |
Assets received in lieu of payment | 1,214 | 785 |
Exchange rate adjustments | 1,675 | |
Property, plant and equipment valuation | 6,381 | 6,138 |
Allowance for loan losses | 188,956 | 184,488 |
Provision for expenses | 89,098 | 63,134 |
Derivatives | 3,924 | |
Leased assets | 116,226 | 107,897 |
Subsidiaries tax losses | 5,416 | 5,314 |
Prepaid expenses | 156 | |
Right of use assets | 249 | |
Total deferred tax assets | 432,396 | 396,284 |
Deferred tax liabilities | ||
Valuation of investments | (17,518) | (42) |
Prepaid expenses | (20,347) | (349) |
Depreciation | ||
Valuation provision | (6,058) | (5,989) |
Derivatives | (36,512) | |
Exchange rate adjustments | (2,817) | (3,383) |
Other | (75) | (20) |
Total deferred tax liabilities | $ 83,327 | $ 9,783 |
Current and Deferred taxes (D_6
Current and Deferred taxes (Details 5) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets | ||
Recognised through other comprehensive income | $ 18,992 | $ 1,231 |
Recognised through profit or loss | 432,396 | 396,284 |
Total deferred tax assets | 451,388 | 397,515 |
Deferred tax liabilities | ||
Recognised through other comprehensive income | (15,830) | (5,687) |
Recognised through profit or loss | (83,327) | (9,783) |
Total deferred tax liabilities | $ (99,157) | $ (15,470) |
Other Assets (Details)
Other Assets (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Assets | ||||
Assets for leasing | [1] | $ 67,139 | $ 47,486 | |
Assets received or awarded in lieu of payment | ||||
Assets received in lieu of payment | 18,755 | 17,525 | ||
Assets awarded at judicial sale | 22,177 | 21,524 | ||
Provision on assets received in lieu of payment or awarded | (2,042) | (723) | ||
Subtotal | 38,890 | 38,326 | ||
Other assets | ||||
Guarantee deposits (margin accounts) | [1] | 314,616 | 170,232 | |
Non-current assets classified as held for sale | 22,394 | |||
Gold investments | 680 | 522 | ||
VAT credit | 22,663 | 9,097 | ||
Income tax recoverable | 1,787 | 1,756 | ||
Prepaid expenses | 432,030 | 477,819 | ||
Assets recovered from leasing for sale | 3,575 | 6,848 | ||
Valuation adjustments by macro hedge | [2] | 210,867 | 9,414 | |
Pension plan assets | 670 | 846 | ||
Accounts and notes receivable | 147,108 | 59,511 | ||
Notes receivable through brokerage and simultaneous transactions | 43,354 | 71,382 | ||
Other receivable assets | 44,262 | 48,612 | ||
Other assets | [1] | 89,111 | 49,365 | |
Subtotal | 1,333,117 | 905,404 | ||
Total | $ 1,439,146 | $ 991,216 | $ 764,410 | |
[1] | Corresponds to the interests in Redbanc S.A., Transbank S.A. and Nexus S.A., which have been reclassified as non-current assets classified as held for sale in accordance with IFRS 5 "Non-current assets held for sale and discontinued operations ", for additional information see Note 1 u) and Note 39. | |||
[2] | Net assets and liabilities fair value valuation subject to macro hedges. See Note 8 |
Time Deposits and Other Time _3
Time Deposits and Other Time Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits and other demand liabilities | |||
Checking accounts | $ 8,093,108 | $ 6,794,132 | |
Other deposits and demand accounts | 741,103 | 709,711 | |
Other demand liabilities | 1,463,221 | 1,237,574 | |
Subtotal | 10,297,432 | 8,741,417 | |
Time deposits and other time liabilities | |||
Time deposits | 13,064,932 | 12,944,846 | |
Time savings account | 123,787 | 118,587 | |
Other time liabilities | 4,098 | 4,386 | |
Subtotal | 13,192,817 | 13,067,819 | $ 7,768,166 |
Total | $ 23,490,249 | $ 21,809,236 | $ 11,913,945 |
Interbank Borrowings (Details)
Interbank Borrowings (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 2,519,818 | $ 1,788,626 |
Loans From Foreign Financial Institutions [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 2,232,856 | 1,284,501 |
Loans From Foreign Financial Institutions [Member] | Bank Of America N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 355,051 | 38,906 |
Loans From Foreign Financial Institutions [Member] | Citibank N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 269,841 | |
Loans From Foreign Financial Institutions [Member] | Mizuho Bank Ltd. NY. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 269,404 | 223,829 |
Loans From Foreign Financial Institutions [Member] | Wells Fargo Bank N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 231,823 | |
Loans From Foreign Financial Institutions [Member] | Sumitomo Mitsui Banking Corporation [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 179,415 | 278,765 |
Loans From Foreign Financial Institutions [Member] | Standard Chartered Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 153,373 | 50,960 |
Loans From Foreign Financial Institutions [Member] | The Bank of Nova Scotia [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 134,819 | 163,927 |
Loans From Foreign Financial Institutions [Member] | The Bank of New York Mellon [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 119,616 | 69,921 |
Loans From Foreign Financial Institutions [Member] | Barclays Bank Plc London [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 98,803 | 34,965 |
Loans From Foreign Financial Institutions [Member] | Corporacion Andina De Fomento [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 75,097 | 52,371 |
Loans From Foreign Financial Institutions [Member] | Zurcher Kantonalbank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 75,002 | |
Loans From Foreign Financial Institutions [Member] | The Toronto Dominion Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 71,191 | |
Loans From Foreign Financial Institutions [Member] | HSBC Bank Plc [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 69,786 | 34,936 |
Loans From Foreign Financial Institutions [Member] | Bank of Montreal [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 56,123 | 31 |
Loans From Foreign Financial Institutions [Member] | State Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 28,231 | 331 |
Loans From Foreign Financial Institutions [Member] | Banco Latinoamericano De Comercio [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 18,731 | |
Loans From Foreign Financial Institutions [Member] | Banco Santander Brasil S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 7,873 | 8,040 |
Loans From Foreign Financial Institutions [Member] | Banco Santander Hong Kong [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 3,697 | 6,047 |
Loans From Foreign Financial Institutions [Member] | Standard Chartered Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 3,613 | 843 |
Loans From Foreign Financial Institutions [Member] | Bank of China [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 952 | 7,777 |
Loans From Foreign Financial Institutions [Member] | Industrial and Commercial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 898 | 30 |
Loans From Foreign Financial Institutions [Member] | Banco Santander Central Hispano [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 848 | 1,295 |
Loans From Foreign Financial Institutions [Member] | Korea Exchange Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 761 | |
Loans From Foreign Financial Institutions [Member] | Hong Kong and Shanghai Banking [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 684 | 1,300 |
Loans From Foreign Financial Institutions [Member] | China Merchants Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 597 | |
Loans From Foreign Financial Institutions [Member] | Unicredito Italiano Spa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 583 | 1,117 |
Loans From Foreign Financial Institutions [Member] | Banco Bilbao Vizcaya Argentaria [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 571 | 888 |
Loans From Foreign Financial Institutions [Member] | Rabobank, Hong Kong Branch [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 477 | |
Loans From Foreign Financial Institutions [Member] | Bbva Bancomer, S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 553 | |
Loans From Foreign Financial Institutions [Member] | Kbc Bank Nv [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 406 | |
Loans From Foreign Financial Institutions [Member] | Bank of Communications [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 385 | |
Loans From Foreign Financial Institutions [Member] | Bank of The West [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 261 | |
Loans From Foreign Financial Institutions [Member] | Danske Bank A/S [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 224 | |
Loans From Foreign Financial Institutions [Member] | Deutsche Bank A,G, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 193 | 5,558 |
Loans From Foreign Financial Institutions [Member] | Kookmin Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 185 | |
Loans From Foreign Financial Institutions [Member] | Caixabank S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 166 | |
Loans From Foreign Financial Institutions [Member] | E, Sun Commercial Bank Ltd, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 159 | |
Loans From Foreign Financial Institutions [Member] | Bank of Tokio Mitsubishi [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 156 | 1,032 |
Loans From Foreign Financial Institutions [Member] | Woori Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 155 | |
Loans From Foreign Financial Institutions [Member] | Agricultural Bank of China [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 152 | 106 |
Loans From Foreign Financial Institutions [Member] | Bank of Taiwan [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 135 | 127 |
Loans From Foreign Financial Institutions [Member] | Shinhan Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 133 | |
Loans From Foreign Financial Institutions [Member] | Taiwan Cooperative Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 131 | |
Loans From Foreign Financial Institutions [Member] | Keb Hana Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 119 | |
Loans From Foreign Financial Institutions [Member] | United Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 113 | 378 |
Loans From Foreign Financial Institutions [Member] | Banca Di Credito Cooperativo A [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 112 | |
Loans From Foreign Financial Institutions [Member] | Joint Stock Commercial Bank Fo, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 110 | 33 |
Loans From Foreign Financial Institutions [Member] | Banca Nazionale Del Lavoro S,P [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 106 | 77 |
Loans From Foreign Financial Institutions [Member] | Hua Nan Commercial Bank Ltd, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 102 | 164 |
Loans From Foreign Financial Institutions [Member] | Industrial Bank of Korea [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 96 | 195 |
Loans From Foreign Financial Institutions [Member] | Banco Bradesco S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 84 | 89 |
Loans From Foreign Financial Institutions [Member] | Bank of Ningbo [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 83 | |
Loans From Foreign Financial Institutions [Member] | Bank of East Asia, Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 82 | 205 |
Loans From Foreign Financial Institutions [Member] | Hdfc Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 72 | |
Loans From Foreign Financial Institutions [Member] | China Everbright Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 70 | |
Loans From Foreign Financial Institutions [Member] | Cassa Di Risparmio Di Parma E [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 69 | |
Loans From Foreign Financial Institutions [Member] | Mizuho Corporate Bank Ltd, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 67 | |
Loans From Foreign Financial Institutions [Member] | Banco Bpm Spa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 66 | 21 |
Loans From Foreign Financial Institutions [Member] | Canara Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 66 | |
Loans From Foreign Financial Institutions [Member] | Banco Comercial Portugues [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 63 | |
Loans From Foreign Financial Institutions [Member] | Caixa Destalvis I Pensions de Barcelona [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 63 | |
Loans From Foreign Financial Institutions [Member] | Shanghai Pudong Development Ba [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 59 | 237 |
Loans From Foreign Financial Institutions [Member] | Banca Monte dei Paschi di Siena [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 58 | 179 |
Loans From Foreign Financial Institutions [Member] | Banca Commerciale Italiana S,P, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 50 | 288 |
Loans From Foreign Financial Institutions [Member] | Fortis Bank S,A,/N,V, Brussels [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 50 | 42 |
Loans From Foreign Financial Institutions [Member] | Habib Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 38 | |
Loans From Foreign Financial Institutions [Member] | Kasikornbank Public Company Li [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 38 | |
Loans From Foreign Financial Institutions [Member] | Banco Rio De La Plata S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 24 | |
Loans From Foreign Financial Institutions [Member] | Australia And New Zealand Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 23 | |
Loans From Foreign Financial Institutions [Member] | Banco de la Republica Oriental [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 23 | 41 |
Loans From Foreign Financial Institutions [Member] | Citic Industrial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 19 | |
Loans From Foreign Financial Institutions [Member] | Shangai Pudong Development Ban [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 14 | |
Loans From Foreign Financial Institutions [Member] | Banco Caixa Geral [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 10 | |
Loans From Foreign Financial Institutions [Member] | Bank of Baroda [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 9 | 37 |
Loans From Foreign Financial Institutions [Member] | Shanghai Commercial and Saving [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 6 | 33 |
Loans From Foreign Financial Institutions [Member] | Hsbc Bank USA [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 2 | 394 |
Loans From Foreign Financial Institutions [Member] | Akbank T,A,S, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 106 | |
Loans From Foreign Financial Institutions [Member] | Banca Lombarda E Piemontese S, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 60 | |
Loans From Foreign Financial Institutions [Member] | Banca Popolare Dell'Emilia Rom [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 31 | |
Loans From Foreign Financial Institutions [Member] | Banca Popolare Di Milano S,C,A [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 6 | |
Loans From Foreign Financial Institutions [Member] | Banco Commerzbank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 19 | |
Loans From Foreign Financial Institutions [Member] | Banco de Galicia Y Buenos Aires [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 231 | |
Loans From Foreign Financial Institutions [Member] | Banco De Sabadell S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 20 | |
Loans From Foreign Financial Institutions [Member] | Banco Internacional S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 33 | |
Loans From Foreign Financial Institutions [Member] | Banco Itau S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 14 | |
Loans From Foreign Financial Institutions [Member] | Banistmo S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 32 | |
Loans From Foreign Financial Institutions [Member] | Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 51 | |
Loans From Foreign Financial Institutions [Member] | Bank of Shanghai [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 134 | |
Loans From Foreign Financial Institutions [Member] | Bankinter S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 24 | |
Loans From Foreign Financial Institutions [Member] | Banque Bruxelles Lambert S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 509 | |
Loans From Foreign Financial Institutions [Member] | Bnp Paribas, Hong Kong Branch [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 3,554 | |
Loans From Foreign Financial Institutions [Member] | Caixabank S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 44 | |
Loans From Foreign Financial Institutions [Member] | Cajas Rurales Unidas [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 18 | |
Loans From Foreign Financial Institutions [Member] | Canara Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 237 | |
Loans From Foreign Financial Institutions [Member] | Casa Di Risparmo De Padova E,R, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30 | |
Loans From Foreign Financial Institutions [Member] | Cassa Di Risparmio In Bologna [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 21 | |
Loans From Foreign Financial Institutions [Member] | Chang Hwa Commercial Bank Ltd, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 18 | |
Loans From Foreign Financial Institutions [Member] | China Construction Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 35 | |
Loans From Foreign Financial Institutions [Member] | Citibank N,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 241,041 | |
Loans From Foreign Financial Institutions [Member] | Credit Agricole [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 106 | |
Loans From Foreign Financial Institutions [Member] | Credit Lyonnais [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 139 | |
Loans From Foreign Financial Institutions [Member] | Development Bank of Singapore [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 3 | |
Loans From Foreign Financial Institutions [Member] | Dexia Bank SA [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 789 | |
Loans From Foreign Financial Institutions [Member] | First Union National Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 201 | |
Loans From Foreign Financial Institutions [Member] | Hang Seng Bank (China) Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 6 | |
Loans From Foreign Financial Institutions [Member] | Hanvit Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 58 | |
Loans From Foreign Financial Institutions [Member] | Hdfc Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 28 | |
Loans From Foreign Financial Institutions [Member] | Hsbc Bank Middle East [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 77 | |
Loans From Foreign Financial Institutions [Member] | International Commercial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 70 | |
Loans From Foreign Financial Institutions [Member] | Kbc Bank Nv [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 23 | |
Loans From Foreign Financial Institutions [Member] | Keb Hana Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 2,318 | |
Loans From Foreign Financial Institutions [Member] | Kookmin Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 78 | |
Loans From Foreign Financial Institutions [Member] | Mega International Commercial [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 9 | |
Loans From Foreign Financial Institutions [Member] | Metropolitan Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 170 | |
Loans From Foreign Financial Institutions [Member] | Oriental Bank of Commerce [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 87 | |
Loans From Foreign Financial Institutions [Member] | Rabobank, Hong Kong Branch [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 1,548 | |
Loans From Foreign Financial Institutions [Member] | Raiffeisen Bank Polska S,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 31 | |
Loans From Foreign Financial Institutions [Member] | Shinhan Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 380 | |
Loans From Foreign Financial Institutions [Member] | Taiwan Business Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 19 | |
Loans From Foreign Financial Institutions [Member] | Taiwan Cooperative Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 66 | |
Loans From Foreign Financial Institutions [Member] | U,S, Bank (Formerly First Bank) [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 18 | |
Loans From Foreign Financial Institutions [Member] | United World Chinese Commercial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 15 | |
Loans From Foreign Financial Institutions [Member] | Wachovia Bank N,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 33,499 | |
Loans From Foreign Financial Institutions [Member] | Wells Fargo Bank N,A, [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 216,749 | |
Loans From Foreign Financial Institutions [Member] | Woori Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 356 | |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | ||
Loans From Financial Institutions And The Central Bank Of Chile [Member] | Borrowings And Other Obligations [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | ||
Loans From Domestic Financial Institutions [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 286,603 | |
Loans from foreign financial institutions, continuacion [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 2,519,818 | 1,788,626 |
Loans from foreign financial institutions, continuacion [Member] | Subtotal [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 359 | $ 504,125 |
Interbank borrowings (Details 1
Interbank borrowings (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 2,519,818 | $ 1,788,626 |
Loans From Domestic Financial Institutions [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 286,603 | |
Loans From Domestic Financial Institutions [Member] | Due Within 1 Year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 158,855 | |
Loans From Domestic Financial Institutions [Member] | Due After 1 Year But Within 2 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 117,344 | |
Loans From Domestic Financial Institutions [Member] | Due After 2 Years But Within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 8,167 | |
Loans From Domestic Financial Institutions [Member] | Due After 3 Years But Within 4 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 2,237 | |
Loans From Domestic Financial Institutions [Member] | Due After 5 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings |
Interbank borrowings (Details 2
Interbank borrowings (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 2,519,818 | $ 1,788,626 |
Loans From Foreign Financial Institutions [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 2,232,856 | 1,284,501 |
Loans From Foreign Financial Institutions [Member] | Due Within 1 Year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 1,970,790 | 1,648,955 |
Loans From Foreign Financial Institutions [Member] | Due After 1 Year But Within 2 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 225,025 | 139,671 |
Loans From Foreign Financial Institutions [Member] | Due After 2 Years But Within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 37,400 | |
Loans From Foreign Financial Institutions [Member] | Due After 3 Years But Within 4 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | ||
Loans From Foreign Financial Institutions [Member] | Due After 5 Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | ||
Loans from foreign financial institutions, continuacion [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 2,519,818 | $ 1,788,626 |
Issued Debt Instruments and O_3
Issued Debt Instruments and Other Financial Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||
Subtotals | $ 226,358 | $ 215,400 | |
Subtotals | 9,500,723 | 8,115,233 | $ 7,093,653 |
Issued debt instruments and other financial liabilities | 9,727,081 | 8,330,633 | |
Mortgage Finance Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 18,502 | 25,490 | |
Mortgage Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 89,924 | 94,921 | |
Senior Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 8,574,213 | 7,198,865 | |
Subordinated Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 818,084 | 795,957 | |
Obligations To Public Sector [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 9,198 | 32,449 | |
Other Domestic Obligations [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | 204,705 | 175,210 | |
Foreign Obligations [Member] | |||
Disclosure of financial liabilities [line items] | |||
Subtotals | $ 12,455 | $ 7,741 |
Issued Debt Instruments and O_4
Issued Debt Instruments and Other Financial Liabilities (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||
Issued debt instruments current | $ 2,089,352 | $ 856,562 | |
Issued debt instruments non current | 7,411,371 | 7,258,671 | |
Issued debt instruments | 9,500,723 | 8,115,233 | $ 7,093,653 |
Other financial liabilities current | 226,033 | 205,871 | |
Other financial liabilities non current | 325 | 9,529 | |
Other financial liabilities | 226,358 | 215,400 | |
Issued debt instruments and other financial liabilities current | 2,315,385 | 1,062,433 | |
Issued debt instruments and other financial liabilities non current | 7,411,696 | 7,268,200 | |
Issued debt instruments and other financial liabilities | 9,727,081 | 8,330,633 | |
Mortgage Finance Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments current | 6,013 | 6,830 | |
Issued debt instruments non current | 12,489 | 18,660 | |
Issued debt instruments | 18,502 | 25,490 | |
Senior Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments current | 2,078,202 | 844,898 | |
Issued debt instruments non current | 6,496,011 | 6,353,967 | |
Issued debt instruments | 8,574,213 | 7,198,865 | |
Mortgage Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments current | 5,137 | 4,833 | |
Issued debt instruments non current | 84,787 | 90,088 | |
Issued debt instruments | 89,924 | 94,921 | |
Subordinated Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments current | 1 | ||
Issued debt instruments non current | 818,084 | 795,956 | |
Issued debt instruments | $ 818,084 | $ 795,957 |
Issued Debt Instruments and O_5
Issued Debt Instruments and Other Financial Liabilities (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 9,500,723 | $ 8,115,233 | $ 7,093,653 |
Mortgage Finance Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 18,502 | 25,490 | |
Mortgage Finance Bonds [Member] | Due Within 1 Year [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 6,013 | 6,830 | |
Mortgage Finance Bonds [Member] | Due After 1 Year But Within 2 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 4,944 | 5,946 | |
Mortgage Finance Bonds [Member] | Due After 2 Years But Within 3 years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 3,928 | 5,034 | |
Mortgage Finance Bonds [Member] | Due After 3 Years But Within 4 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 2,442 | 3,997 | |
Mortgage Finance Bonds [Member] | Due After 4 Years But Within 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,005 | 2,480 | |
Mortgage Finance Bonds [Member] | Due After 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 170 | $ 1,203 |
Issued Debt Instruments and O_6
Issued Debt Instruments and Other Financial Liabilities (Details 3) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 9,500,723 | $ 8,115,233 | $ 7,093,653 |
Senior Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 8,574,213 | 7,198,865 | |
Senior Bonds [Member] | UF [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 4,095,741 | ||
Senior Bonds [Member] | USD [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,649,238 | 1,094,267 | |
Senior Bonds [Member] | CHF | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 499,485 | 386,979 | |
Senior Bonds [Member] | CLP | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,242,633 | 1,291,900 | |
Senior Bonds [Member] | AUD | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 124,748 | 24,954 | |
Senior Bonds [Member] | JPY [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 77,797 | 191,598 | |
Senior Bonds [Member] | EUR | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 165,708 | $ 113,426 | |
Senior Bonds [Member] | CLF [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 4,814,604 |
Issued Debt Instruments and O_7
Issued Debt Instruments and Other Financial Liabilities (Details 4) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 377,131,597 | $ 241,467,084 | $ 177,224,139 |
Senior Bonds [Member] | CHF | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | 25 | ||
Series maximum amount | 25 | ||
Senior Bonds [Member] | CHF | SantanderBondsCHFMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 150 | ||
Terms Years | P5Y7M6D | ||
Description of Issuance rate (annual) | 0.38% yearly | ||
Series approval date | Mar. 12, 2019 | ||
Series maximum amount | $ 150 | 115 | |
Maturity date | Sep. 27, 2024 | ||
Senior Bonds [Member] | CHF | SantanderBondsCHFSeriesCHFMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 115 | ||
Terms Years | P5Y3M19D | ||
Issuance rate (annual) | 0.441% | ||
Series approval date | Sep. 21, 2018 | ||
Series maximum amount | $ 115 | ||
Maturity date | Dec. 21, 2023 | ||
Senior Bonds [Member] | CHF | SantanderBondsCHF1Member | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 100 | ||
Terms Years | P10Y | ||
Description of Issuance rate (annual) | 0,14% yearly | ||
Series approval date | Aug. 29, 2019 | ||
Series maximum amount | $ 100 | ||
Maturity date | Aug. 29, 2029 | ||
Senior Bonds [Member] | AUD | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 185 | ||
Series maximum amount | 185 | ||
Senior Bonds [Member] | AUD | SantanderBondsCHFMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 20 | ||
Series maximum amount | $ 20 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 22 | ||
Terms Years | P15Y | P5Y | |
Description of Issuance rate (annual) | 3.66% yearly | ||
Series approval date | May 20, 2019 | Nov. 13, 2018 | |
Series maximum amount | $ 22 | $ 20 | |
Maturity date | May 20, 2034 | Nov. 13, 2023 | |
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD1 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 20 | ||
Terms Years | P5Y | ||
Description of Issuance rate (annual) | 1.13% yearly | ||
Series approval date | Jul. 11, 2019 | ||
Series maximum amount | $ 20 | ||
Maturity date | Jul. 11, 2024 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD2 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 28 | ||
Terms Years | P5Y | ||
Description of Issuance rate (annual) | 1.13% yearly | ||
Series approval date | Jul. 17, 2019 | ||
Series maximum amount | $ 28 | ||
Maturity date | Jul. 17, 2024 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD3 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 15 | ||
Terms Years | P5Y | ||
Description of Issuance rate (annual) | 1.13% yearly | ||
Series approval date | Jul. 17, 2019 | ||
Series maximum amount | $ 28 | ||
Maturity date | Jul. 17, 2024 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD4 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 75 | ||
Terms Years | P20Y | ||
Description of Issuance rate (annual) | 3.05% yearly | ||
Series approval date | Aug. 30, 2019 | ||
Series maximum amount | $ 75 | ||
Maturity date | Feb. 28, 2039 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD5 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 12 | ||
Terms Years | P5Y | ||
Description of Issuance rate (annual) | 3.16% yearly | ||
Series approval date | Nov. 12, 2019 | ||
Series maximum amount | $ 12 | ||
Maturity date | Nov. 20, 2034 | ||
Senior Bonds [Member] | AUD | Senior Bonds Related To AUD6 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 13 | ||
Terms Years | P5Y | ||
Description of Issuance rate (annual) | 2.91% yearly | ||
Series approval date | Nov. 21, 2019 | ||
Series maximum amount | $ 13 | ||
Maturity date | Nov. 27, 2034 | ||
Senior Bonds [Member] | EUR | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 55 | ||
Series maximum amount | 65 | ||
Senior Bonds [Member] | EUR | SantanderBondsEURMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 30 | ||
Terms Years | P7Y | ||
Issuance rate (annual) | 1.10% | ||
Series approval date | Feb. 1, 2019 | ||
Series maximum amount | $ 40 | $ 66 | |
Maturity date | Feb. 7, 2026 | ||
Senior Bonds [Member] | EUR | SantanderBondsEURSeriesEURMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 26 | ||
Terms Years | P7Y | ||
Issuance rate (annual) | 1.00% | ||
Series approval date | May 4, 2018 | ||
Series maximum amount | $ 26 | ||
Maturity date | May 28, 2025 | ||
Senior Bonds [Member] | EUR | SantanderBondsEUR1SeriesEURMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 40 | ||
Terms Years | P12Y | ||
Issuance rate (annual) | 1.78% | ||
Series approval date | Aug. 6, 2018 | ||
Series maximum amount | $ 40 | ||
Maturity date | Jun. 15, 2030 | ||
Senior Bonds [Member] | EUR | SantanderBondsEUR1Member | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 25 | ||
Terms Years | P5Y | ||
Issuance rate (annual) | 1.25% | ||
Series approval date | Nov. 26, 2019 | ||
Series maximum amount | $ 25 | ||
Maturity date | Nov. 26, 2034 | ||
Senior Bonds [Member] | USD [Member] | SantanderBondsUSDMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 70 | ||
Series maximum amount | 70 | ||
Senior Bonds [Member] | USD [Member] | USD [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 50 | ||
Terms Years | P10Y | ||
Issuance rate (annual) | 4.17% | ||
Series approval date | Oct. 10, 2018 | ||
Series maximum amount | $ 50 | ||
Maturity date | Oct. 10, 2028 | ||
Senior Bonds [Member] | USD [Member] | SantanderBondsUSD1SeriesUSDMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 20 | ||
Terms Years | P2Y | ||
Description of Issuance rate (annual) | 0.03 | ||
Series approval date | Nov. 16, 2018 | ||
Series maximum amount | $ 20 | ||
Maturity date | Nov. 16, 2020 | ||
Senior Bonds [Member] | CLP | SantanderBondsUFMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 150,000 | $ 225,000 | |
Series maximum amount | 225,000 | 30 | |
Senior Bonds [Member] | CLP | P5 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 75,000 | $ 75,000 | |
Terms Years | P2Y8M12D | P4Y | |
Issuance rate (annual) | 5.30% | 5.30% | |
Series approval date | Mar. 1, 2015 | Mar. 5, 2015 | |
Series maximum amount | $ 150,000 | $ 150,000 | |
Maturity date | Mar. 1, 2022 | Mar. 1, 2022 | |
Senior Bonds [Member] | CLP | U4 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 75,000 | ||
Terms Years | P3Y4M24D | ||
Description of Issuance rate (annual) | ICP + 1.00% yearly | ||
Series approval date | Jan. 10, 2017 | ||
Series maximum amount | $ 75,000 | ||
Maturity date | Jan. 10, 2022 | ||
Senior Bonds [Member] | CLP | U3 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 75,000 | ||
Terms Years | P2Y8M12D | ||
Description of Issuance rate (annual) | ICP + 1.00% yearly | ||
Series approval date | Jun. 11, 2018 | ||
Series maximum amount | $ 75,000 | ||
Maturity date | Jun. 11, 2021 | ||
Senior Bonds [Member] | CLP | U9 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 75,000 | ||
Terms Years | P2Y9M18D | ||
Description of Issuance rate (annual) | ICP + 0.80% yearly | ||
Series approval date | Nov. 1, 2018 | ||
Series maximum amount | $ 75,000 | ||
Maturity date | Nov. 19, 2021 | ||
Senior Bonds [Member] | UF [Member] | SantanderBondsUFMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 23 | ||
Series maximum amount | 30 | ||
Senior Bonds [Member] | UF [Member] | T1 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 4 | ||
Terms Years | P2Y | ||
Issuance rate (annual) | 2.20% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 7 | ||
Maturity date | Feb. 1, 2020 | ||
Senior Bonds [Member] | UF [Member] | T4 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 4 | ||
Terms Years | P3Y | ||
Issuance rate (annual) | 2.35% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 8 | ||
Maturity date | Aug. 1, 2021 | ||
Senior Bonds [Member] | UF [Member] | T11 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P7Y | ||
Issuance rate (annual) | 2.65% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 5 | ||
Maturity date | Feb. 1, 2025 | ||
Senior Bonds [Member] | UF [Member] | T12 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P7Y | ||
Issuance rate (annual) | 2.70% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 5 | ||
Maturity date | Aug. 1, 2025 | ||
Senior Bonds [Member] | UF [Member] | T15 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P11Y | ||
Issuance rate (annual) | 3.00% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 5 | ||
Maturity date | Aug. 1, 2028 | ||
Senior Bonds [Member] | UF [Member] | T7 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P4Y | ||
Issuance rate (annual) | 2.50% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 5 | ||
Maturity date | Feb. 1, 2023 | ||
Senior Bonds [Member] | UF [Member] | T8 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Terms Years | P4Y7M6D | ||
Issuance rate (annual) | 2.55% | ||
Series approval date | Feb. 1, 2016 | ||
Maturity date | Aug. 1, 2023 | ||
Senior Bonds [Member] | UF [Member] | T14 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 9 | ||
Terms Years | P8Y | ||
Issuance rate (annual) | 2.80% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 18 | ||
Maturity date | Feb. 1, 2027 | ||
Senior Bonds [Member] | UF [Member] | T6 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P10Y | ||
Issuance rate (annual) | 1.70% | ||
Series approval date | Nov. 1, 2018 | ||
Series maximum amount | $ 5 | ||
Maturity date | May 1, 2029 | ||
Senior Bonds [Member] | UF [Member] | T10 [Member] | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 5 | ||
Terms Years | P5Y4M24D | ||
Issuance rate (annual) | 2.60% | ||
Series approval date | Feb. 1, 2016 | ||
Series maximum amount | $ 5 | ||
Maturity date | Aug. 1, 2024 | ||
Senior Bonds [Member] | JPY [Member] | CurrentBondsJPYSeriesJPY1Member | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 3,000 | ||
Terms Years | P5Y | ||
Issuance rate (annual) | 56.00% | ||
Series approval date | Oct. 30, 2018 | ||
Series maximum amount | $ 3,000 | ||
Maturity date | Oct. 30, 2023 | ||
Senior Bonds [Member] | JPY [Member] | CurrentBondsJPYSeriesJPYMember | |||
Disclosure of financial liabilities [line items] | |||
Notional amount | $ 4,000 | ||
Terms Years | P10Y7M6D | ||
Issuance rate (annual) | 0.65% | ||
Series approval date | Jul. 13, 2018 | ||
Series maximum amount | $ 4,000 | ||
Maturity date | Jan. 13, 2029 | ||
Senior Bonds [Member] | JPY [Member] | CurrentBondsJPYMember | |||
Disclosure of financial liabilities [line items] | |||
Series maximum amount | $ 7,000 |
Issued Debt Instruments and O_8
Issued Debt Instruments and Other Financial Liabilities (Details 5) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Line Items [Line Items] | ||
Notional amount | $ 377,131,597 | $ 241,467,084 |
Senior Bonds [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 10,000,000,000 | $ 12,890,000,000 |
Issuance date | Feb. 12, 2019 | Jan. 4, 2018 |
SeniorBonds1Member | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 30,000,000,000 | $ 4,600,000,000 |
Issuance date | Feb. 14, 2019 | Jan. 4, 2018 |
Senior Bonds 2 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 4,200,000,000 | |
Issuance date | Feb. 19, 2019 | |
Senior Bonds 2 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 24,000 | |
Issuance date | Jan. 22, 2018 | |
Senior Bonds 3 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 14,240,000,000 | |
Issuance date | Feb. 22, 2019 | |
Senior Bonds 3 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 484,000 | |
Issuance date | Apr. 5, 2018 | |
Senior Bonds 4 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 30,000,000 | |
Issuance date | Feb. 22, 2019 | |
Senior Bonds 4 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 184,000 | |
Issuance date | Apr. 6, 2018 | |
Senior Bonds 5 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 10,000,000 | |
Issuance date | Feb. 22, 2019 | |
Senior Bonds 5 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 216,000 | |
Issuance date | Apr. 23, 2018 | |
Senior Bonds 6 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 11,800,000,000 | |
Issuance date | Mar. 1, 2019 | |
Senior Bonds 6 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 4,000 | |
Issuance date | Apr. 24, 2018 | |
Senior Bonds 7 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 40,080,000,000 | |
Issuance date | Mar. 4, 2019 | |
Senior Bonds 7 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 262,000 | |
Issuance date | Apr. 25, 2018 | |
Senior Bonds 8 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 20,000,000,000 | |
Issuance date | Mar. 5, 2019 | |
Senior Bonds 8 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 800,000 | |
Issuance date | May 10, 2018 | |
Senior Bonds 9 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 156,000 | |
Issuance date | Mar. 15, 2019 | |
Senior Bonds 9 [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 3,090,000 | |
Issuance date | Jun. 7, 2018 | |
Senior Bonds 10 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 418,000 | |
Issuance date | Mar. 19, 2019 | |
Senior Bonds 10 [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 250,000,000 | |
Issuance date | Dec. 11, 2018 | |
Senior Bonds 11 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 6,710,000,000 | |
Issuance date | Mar. 20, 2019 | |
Senior Bonds 12 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 154,000 | |
Issuance date | Mar. 20, 2019 | |
Senior Bonds 13 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 100,000 | |
Issuance date | Mar. 21, 2019 | |
Senior Bonds 14 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 100,000 | |
Issuance date | Mar. 25, 2019 | |
Senior Bonds 15 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 90,000 | |
Issuance date | Mar. 26, 2019 | |
Senior Bonds 16 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 3,950,000,000 | |
Issuance date | Apr. 8, 2019 | |
Senior Bonds 17 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 409,000 | |
Issuance date | Apr. 10, 2019 | |
Senior Bonds 18 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 55,000 | |
Issuance date | Apr. 16, 2019 | |
Senior Bonds 19 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 130,000,000 | |
Issuance date | Apr. 17, 2019 | |
Senior Bonds 20 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 330,000,000 | |
Issuance date | Apr. 18, 2019 | |
Senior Bonds 21 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 14,880,000,000 | |
Issuance date | May 16, 2019 | |
Senior Bonds 22 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 9,000 | |
Issuance date | May 16, 2019 | |
Senior Bonds 23 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 1,000 | |
Issuance date | Jun. 13, 2019 | |
Senior Bonds 24 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 10,960,000,000 | |
Issuance date | Oct. 1, 2019 | |
Senior Bonds 25 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 100,000,000 | |
Issuance date | Oct. 2, 2019 | |
Senior Bonds 26 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 60,000,000 | |
Issuance date | Oct. 4, 2019 | |
Senior Bonds 27 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 15,220,000,000 | |
Issuance date | Nov. 5, 2019 | |
Senior Bonds 28 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 3,620,000,000 | |
Issuance date | Nov. 7, 2019 | |
Senior Bonds 29 [Member] | Chile, Pesos | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 5,320,000,000 | |
Issuance date | Nov. 13, 2019 | |
Senior Bonds 30 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 2,977,000 | |
Issuance date | Nov. 14, 2019 | |
Senior Bonds 31 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 340,000 | |
Issuance date | Nov. 28, 2019 | |
Senior Bonds 32 [Member] | Unidad De Fomento [Member] | ||
Statement Line Items [Line Items] | ||
Notional amount | $ 105,000 | |
Issuance date | Dec. 2, 2019 |
Issued Debt Instruments and O_9
Issued Debt Instruments and Other Financial Liabilities (Details 6) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 9,500,723 | $ 8,115,233 | $ 7,093,653 |
Senior Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 8,574,213 | 7,198,865 | |
Senior Bonds [Member] | Due After 4 Years But Within 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,278,746 | 421,918 | |
Senior Bonds [Member] | Due After 3 Years But Within 4 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 742,238 | 1,104,547 | |
Senior Bonds [Member] | Due After 2 Years But Within 3 years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,221,393 | 1,073,847 | |
Senior Bonds [Member] | Due After 1 Year But Within 2 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,147,825 | 1,331,255 | |
Senior Bonds [Member] | Due Within 1 Year [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 2,078,202 | 844,898 | |
Senior Bonds [Member] | Due After 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 2,105,809 | 2,422,400 | |
Subordinated Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 818,084 | 795,957 | |
Subordinated Bonds [Member] | Due After 4 Years But Within 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | |||
Subordinated Bonds [Member] | Due After 3 Years But Within 4 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | |||
Subordinated Bonds [Member] | Due After 2 Years But Within 3 years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | |||
Subordinated Bonds [Member] | Due After 1 Year But Within 2 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | |||
Subordinated Bonds [Member] | Due Within 1 Year [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1 | ||
Subordinated Bonds [Member] | Due After 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 818,084 | 795,956 | |
Mortgage Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 89,924 | 94,921 | |
Mortgage Bonds [Member] | Due After 4 Years But Within 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 9,072 | 8,534 | |
Mortgage Bonds [Member] | Due After 3 Years But Within 4 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 8,788 | 8,267 | |
Mortgage Bonds [Member] | Due After 2 Years But Within 3 years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 8,514 | 8,008 | |
Mortgage Bonds [Member] | Due After 1 Year But Within 2 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 8,248 | 7,758 | |
Mortgage Bonds [Member] | Due Within 1 Year [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 5,137 | 4,833 | |
Mortgage Bonds [Member] | Due After 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 50,165 | 57,521 | |
Mortgage Finance Bonds [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 18,502 | 25,490 | |
Mortgage Finance Bonds [Member] | Due After 4 Years But Within 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 1,005 | 2,480 | |
Mortgage Finance Bonds [Member] | Due After 3 Years But Within 4 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 2,442 | 3,997 | |
Mortgage Finance Bonds [Member] | Due After 2 Years But Within 3 years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 3,928 | 5,034 | |
Mortgage Finance Bonds [Member] | Due After 1 Year But Within 2 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 4,944 | 5,946 | |
Mortgage Finance Bonds [Member] | Due Within 1 Year [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | 6,013 | 6,830 | |
Mortgage Finance Bonds [Member] | Due After 5 Years [Member] | |||
Disclosure of financial liabilities [line items] | |||
Issued debt instruments | $ 170 | $ 1,203 |
Issued Debt Instruments and _10
Issued Debt Instruments and Other Financial Liabilities (Details 7) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | |||
Issued debt instruments | $ 9,500,723 | $ 8,115,233 | $ 7,093,653 |
Mortgage Bonds [Member] | |||
Statement Line Items [Line Items] | |||
Issued debt instruments | 89,924 | 94,921 | |
Mortgage Bonds [Member] | Unidad De Fomento [Member] | |||
Statement Line Items [Line Items] | |||
Issued debt instruments | 89,924 | 94,921 | |
Subordinated Bonds [Member] | |||
Statement Line Items [Line Items] | |||
Issued debt instruments | 818,084 | 795,957 | |
Subordinated Bonds [Member] | Unidad De Fomento (funds code) [Member] | |||
Statement Line Items [Line Items] | |||
Issued debt instruments | 818,084 | 795,956 | |
Subordinated Bonds [Member] | Chile, Pesos | |||
Statement Line Items [Line Items] | |||
Issued debt instruments | $ 1 |
Issued Debt Instruments and _11
Issued Debt Instruments and Other Financial Liabilities (Details 8) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Non-current portion: | ||
Non-current portion subtotal | $ 325 | $ 9,529 |
Current portion: | ||
Amounts due to credit card operators | 151,984 | 172,425 |
Acceptance of letters of credit | 5,709 | 2,894 |
Other long-term financial obligations, short-term portion | 68,347 | 30,552 |
Current portion subtotal | 226,033 | 205,871 |
Total other financial liabilities | 226,358 | 215,400 |
Due After 4 Years But Within 5 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 53 | 48 |
Due After 1 Year But Within 2 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 41 | 9,221 |
Due After 2 Years But Within 3 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 44 | 40 |
Due After 3 Years But Within 4 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 48 | 44 |
Due After 5 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | $ 132 | $ 176 |
Issued Debt Instruments and _12
Issued Debt Instruments and Other Financial Liabilities (Details Textual) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Line Items [Line Items] | ||
Percentage of yearly interest yield | 5.39% | 5.43% |
Bottom of range [Member] | ||
Statement Line Items [Line Items] | ||
Range of maturities period | 5 years | |
Top of range [Member] | ||
Statement Line Items [Line Items] | ||
Range of maturities period | 20 years |
Maturity of Financial Assets _3
Maturity of Financial Assets and Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of financial assets [line items] | |||||
Total financial assets | $ 50,574,714 | $ 39,132,512 | |||
Total financial liabilities | 47,096,211 | 35,887,052 | |||
Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 226,358 | 215,400 | |||
Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 9,500,723 | 8,115,233 | |||
Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,519,818 | 1,788,626 | |||
Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 7,390,654 | 2,517,728 | |||
Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 13,192,817 | 13,067,819 | |||
Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 380,055 | 48,545 | |||
Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 198,248 | 163,043 | |||
Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 10,297,432 | 8,741,417 | |||
Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Total financial liabilities | 540,091 | ||||
More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 30,446,884 | 21,904,863 | |||
Total financial liabilities | 14,065,558 | 9,585,981 | |||
More Than 1 Year [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 325 | 9,529 | |||
More Than 1 Year [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 7,411,371 | 7,258,671 | |||
More Than 1 Year [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 390,173 | 139,671 | |||
More Than 1 Year [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 5,588,396 | 1,916,438 | |||
More Than 1 Year [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 542,860 | 261,672 | |||
More Than 1 Year [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
More Than 1 Year [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
More Than 1 Year [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Total financial liabilities | |||||
More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 7,113,548 | 5,461,385 | |||
Total financial liabilities | 5,610,834 | 5,633,116 | |||
More Than 3 Months To 1 Year [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 28,888 | 22,844 | |||
More Than 3 Months To 1 Year [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 1,044,674 | 745,830 | |||
More Than 3 Months To 1 Year [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 1,141,824 | 1,188,692 | |||
More Than 3 Months To 1 Year [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 951,684 | 349,551 | |||
More Than 3 Months To 1 Year [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,417,703 | 3,326,199 | |||
More Than 3 Months To 1 Year [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
More Than 3 Months To 1 Year [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
More Than 3 Months To 1 Year [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
More Than 3 Months To 1 Year [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 16,464,103 | 11,877,024 | |||
Total financial liabilities | 6,200,485 | 4,290,707 | |||
Due After 5 Years [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 143 | 176 | |||
Due After 5 Years [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,974,229 | 3,277,079 | |||
Due After 5 Years [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due After 5 Years [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 3,154,168 | 949,464 | |||
Due After 5 Years [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 21,883 | 63,988 | |||
Due After 5 Years [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due After 5 Years [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due After 5 Years [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due After 5 Years [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 6,202,554 | 3,808,562 | |||
Total financial liabilities | 3,425,090 | 2,027,157 | |||
Later than three years and not later than five years [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 99 | 92 | |||
Later than three years and not later than five years [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,042,292 | 1,549,743 | |||
Later than three years and not later than five years [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,237 | ||||
Later than three years and not later than five years [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 1,180,948 | 471,185 | |||
Later than three years and not later than five years [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 163,121 | 6,137 | |||
Later than three years and not later than five years [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later than three years and not later than five years [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later than three years and not later than five years [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later than three years and not later than five years [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 7,780,227 | 6,219,277 | |||
Total financial liabilities | 3,268,117 | ||||
Between 1 and 3 years [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 30,969 | 9,261 | |||
Between 1 and 3 years [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,394,850 | 2,431,849 | |||
Between 1 and 3 years [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 387,936 | 139,671 | |||
Between 1 and 3 years [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 1,253,280 | 495,789 | |||
Between 1 and 3 years [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 357,856 | 191,547 | |||
Between 1 and 3 years [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Between 1 and 3 years [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Between 1 and 3 years [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Between 1 and 3 years [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 18,944,561 | 16,539,128 | |||
Total financial liabilities | 25,611,921 | ||||
Due Within 1 Year [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 226,033 | 205,871 | |||
Due Within 1 Year [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,089,352 | 856,562 | |||
Due Within 1 Year [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 2,129,645 | 1,648,955 | |||
Due Within 1 Year [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 1,802,258 | 601,290 | |||
Due Within 1 Year [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 12,649,957 | 12,806,147 | |||
Due Within 1 Year [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 380,055 | 48,545 | |||
Due Within 1 Year [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 198,248 | 163,043 | |||
Due Within 1 Year [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 10,297,432 | 8,741,417 | |||
Due Within 1 Year [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 994,714 | 540,091 | |||
Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,804,857 | 2,451,466 | |||
Total financial liabilities | 4,675,171 | ||||
Later Than One Month And Not Later Than Three Months [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 30,969 | 2,412 | |||
Later Than One Month And Not Later Than Three Months [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 759,519 | 39,267 | |||
Later Than One Month And Not Later Than Three Months [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 624,167 | 404,575 | |||
Later Than One Month And Not Later Than Three Months [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 427,825 | 120,361 | |||
Later Than One Month And Not Later Than Three Months [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 4,905,414 | 4,108,556 | |||
Later Than One Month And Not Later Than Three Months [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later Than One Month And Not Later Than Three Months [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later Than One Month And Not Later Than Three Months [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Later Than One Month And Not Later Than Three Months [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 4,505,497 | 5,798,664 | |||
Total financial liabilities | 5,517,050 | ||||
Not Later Than One Month [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 5,155 | 934 | |||
Not Later Than One Month [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 285,159 | 71,465 | |||
Not Later Than One Month [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 363,560 | 16,310 | |||
Not Later Than One Month [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 422,749 | 131,378 | |||
Not Later Than One Month [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 5,184,567 | 5,248,418 | |||
Not Later Than One Month [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 380,055 | 48,545 | |||
Not Later Than One Month [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Not Later Than One Month [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Not Later Than One Month [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 4,520,659 | 2,827,613 | |||
Total financial liabilities | 11,793,782 | 9,786,584 | |||
Demand [Member] | Other financial liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 179,681 | 179,681 | |||
Demand [Member] | Issue debt instruments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Demand [Member] | Interbank Borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 39,378 | 39,378 | |||
Demand [Member] | Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Demand [Member] | Time deposits and other time liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 122,974 | 122,974 | |||
Demand [Member] | Obligations under repurchase agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | |||||
Demand [Member] | Cash items in process of being cleared [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 163,043 | ||||
Demand [Member] | Deposits and interbank borrowings [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 8,741,417 | 8,741,417 | |||
Demand [Member] | Guarantees received (margin accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial liabilities | 540,091 | 540,091 | |||
Loans and accounts receivables at amortised cost [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 32,671,515 | [1] | 30,213,414 | [2] | |
Loans and accounts receivables at amortised cost [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 21,499,193 | [1] | 19,476,031 | [2] | |
Loans and accounts receivables at amortised cost [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 5,511,374 | [1] | 4,880,726 | ||
Loans and accounts receivables at amortised cost [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 11,699,613 | [1] | 10,765,393 | ||
Loans and accounts receivables at amortised cost [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 4,093,147 | [1] | 3,236,349 | ||
Loans and accounts receivables at amortised cost [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 5,706,433 | [1] | 5,474,289 | ||
Loans and accounts receivables at amortised cost [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,315,417 | [1] | 10,737,383 | ||
Loans and accounts receivables at amortised cost [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,400,909 | [1] | 128,024 | ||
Loans and accounts receivables at amortised cost [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,963,578 | [1] | 3,295,003 | ||
Loans and accounts receivables at amortised cost [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 296,461 | [1] | 238,212 | ||
Guarantee Deposits (Margin Accounts) [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 170,232 | 170,232 | |||
Guarantee Deposits (Margin Accounts) [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 314,616 | 170,232 | |||
Guarantee Deposits (Margin Accounts) [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Guarantee Deposits (Margin Accounts) [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 314,616 | 170,232 | |||
Equity instruments at fvoci [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 483 | ||||
Equity instruments at fvoci [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 482 | 483 | |||
Equity instruments at fvoci [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Equity instruments at fvoci [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 482 | 481 | |||
Equity instruments at fvoci [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Equity instruments at fvoci [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Equity instruments at fvoci [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,187,382 | ||||
Equity instruments at fvoci [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Equity instruments at fvoci [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Equity instruments at fvoci [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Debt Instruments At FVOCI [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,394,323 | ||||
Debt Instruments At FVOCI [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,822,890 | 2,993 | |||
Total financial liabilities | 2,822,890 | ||||
Debt Instruments At FVOCI [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 52,130 | 1 | |||
Debt Instruments At FVOCI [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,588,875 | 2,907 | |||
Debt Instruments At FVOCI [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 725,419 | ||||
Debt Instruments At FVOCI [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 508,596 | 86 | |||
Debt Instruments At FVOCI [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 5,953 | 2,391,330 | |||
Debt Instruments At FVOCI [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 3,752 | ||||
Debt Instruments At FVOCI [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,131,500 | 2,391,329 | |||
Debt Instruments At FVOCI [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Loans and account receivable at fvoci [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | [3] | 66,166 | 68,694 | ||
Loans and account receivable at fvoci [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 60,213 | [4] | 43,400 | ||
Loans and account receivable at fvoci [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 5,953 | [4] | 25,294 | ||
Loans and account receivable at fvoci [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 60,213 | [4] | 38,451 | ||
Loans and account receivable at fvoci [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | [4] | ||||
Loans and account receivable at fvoci [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | [4] | 4,949 | |||
Loans and account receivable at fvoci [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 11,172,322 | [4] | 25,294 | ||
Loans and account receivable at fvoci [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,323,442 | ||||
Loans and account receivable at fvoci [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | [4] | ||||
Loans and account receivable at fvoci [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | [4] | ||||
Financial derivative contracts [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 8,148,608 | 3,100,635 | |||
Financial derivative contracts [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 3,103,369 | 2,317,621 | |||
Financial derivative contracts [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,543,446 | 543,722 | |||
Financial derivative contracts [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 3,103,369 | 1,041,866 | |||
Financial derivative contracts [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,346,329 | 552,133 | |||
Financial derivative contracts [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 1,383,493 | 723,622 | |||
Financial derivative contracts [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 783,014 | 783,014 | |||
Financial derivative contracts [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 400,196 | ||||
Financial derivative contracts [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 371,775 | 111,268 | |||
Financial derivative contracts [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Investments Under Resale Agreements [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Available For Sale Investments [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 270,204 | 77,041 | |||
Available For Sale Investments [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 11,551 | 64,335 | |||
Available For Sale Investments [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 645 | 11,642 | |||
Available For Sale Investments [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 11,551 | 27,924 | |||
Available For Sale Investments [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 37,659 | 20,080 | |||
Available For Sale Investments [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 181,705 | 16,331 | |||
Available For Sale Investments [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 12,706 | 12,706 | |||
Available For Sale Investments [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Available For Sale Investments [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 38,644 | 1,064 | |||
Available For Sale Investments [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 355,062 | 353,757 | |||
Cash Items In Process Of Collection [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 353,757 | 353,757 | |||
Cash Items In Process Of Collection [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash Items In Process Of Collection [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 355,062 | 353,757 | |||
Cash And Deposits In Banks [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 3,554,520 | 2,065,411 | |||
Cash And Deposits In Banks [Member] | More Than 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | More Than 3 Months To 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Due After 5 Years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Later than three years and not later than five years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Between 1 and 3 years [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Due Within 1 Year [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | 2,065,411 | 2,065,411 | |||
Cash And Deposits In Banks [Member] | Later Than One Month And Not Later Than Three Months [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Not Later Than One Month [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | |||||
Cash And Deposits In Banks [Member] | Demand [Member] | |||||
Disclosure of financial assets [line items] | |||||
Total financial assets | $ 3,554,520 | $ 2,065,411 | |||
[1] | Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$896,095 million. | ||||
[2] | Loans and accounts receivables at amortised cost are presented on a gross basis, the amount of allowance is Ch$ 882,414 million. | ||||
[3] | Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$106 million. | ||||
[4] | Loans and accounts receivables at fvoci are presented on a gross basis, the amount of allowance is Ch$101 million. |
Provisions and Contingent Pro_3
Provisions and Contingent Provisions (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Provisions And Contingent Provisions | ||||
Provisions for personnel salaries and expenses | $ 101,223 | $ 93,379 | ||
Provisions for mandatory dividends | 185,727 | 178,600 | ||
Provisions for contingent loan | 23,792 | 24,329 | ||
Provision for contingencies | 15,388 | 8,963 | ||
Total | $ 326,130 | $ 305,271 | $ 303,798 | $ 292,210 |
Provisions and Contingent Pro_4
Provisions and Contingent Provisions (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Line Items [Line Items] | |||
Balance at beginning | $ 305,271 | $ 303,798 | $ 292,210 |
Provisions established | 298,627 | 298,599 | 291,513 |
Application of provisions | (70,540) | (77,406) | (224,907) |
Provisions released | (207,693) | (210,781) | (55,018) |
Reclassifications | |||
Other | 465 | (8,939) | |
Balance at end | 326,130 | 305,271 | 303,798 |
Personnel salaries and expenses [Member] | |||
Statement Line Items [Line Items] | |||
Balance at beginning | 93,379 | 97,576 | 72,592 |
Provisions established | 78,316 | 80,912 | 106,687 |
Application of provisions | (70,385) | (72,975) | (81,703) |
Provisions released | (552) | (3,195) | |
Reclassifications | |||
Other | 465 | (8,939) | |
Balance at end | 101,223 | 93,379 | 97,576 |
Mandatory Dividend [Member] | |||
Statement Line Items [Line Items] | |||
Balance at beginning | 178,600 | 168,840 | 142,815 |
Provisions established | 185,727 | 178,600 | 168,840 |
Application of provisions | (142,815) | ||
Provisions released | (178,600) | (168,840) | |
Reclassifications | |||
Other | |||
Balance at end | 185,727 | 178,600 | 168,840 |
Contingent loan [Member] | |||
Statement Line Items [Line Items] | |||
Balance at beginning | 24,329 | 10,079 | 11,399 |
Provisions established | 16,277 | 19,440 | 7,341 |
Application of provisions | |||
Provisions released | (16,814) | (5,190) | (8,661) |
Reclassifications | |||
Other | |||
Balance at end | 23,792 | 24,329 | 10,079 |
Contingencies [Member] | |||
Statement Line Items [Line Items] | |||
Balance at beginning | 8,963 | 27,303 | 65,404 |
Provisions established | 27,975 | 19,647 | 8,645 |
Application of provisions | (155) | (4,431) | (389) |
Provisions released | (21,395) | (33,535) | (46,357) |
Reclassifications | |||
Other | |||
Balance at end | $ 15,388 | $ 8,963 | $ 27,303 |
Provisions and Contingent Pro_5
Provisions and Contingent Provisions (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Provisions And Contingent Provisions Details 2Abstract | ||
Provision for seniority compensation | $ 6,797 | $ 9,531 |
Provision for stock-based personnel benefits | ||
Provision for performance bonds | 68,595 | 59,633 |
Provision for vacations | 23,864 | 22,792 |
Provision for other personnel benefits | 1,967 | 1,423 |
Total | $ 101,223 | $ 93,379 |
Provisions and Contingent Pro_6
Provisions and Contingent Provisions (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | $ 24,329 | $ 24,360 |
Transfer: | ||
Transfers to stage 2 | 582 | 35 |
Transfers to stage 3 | 4,639 | 327 |
Transfers to stage 3 | 2,864 | 556 |
Transfers to stage 1 | (387) | (6) |
Transfers to stage 2 | (1,264) | |
Transfers to stage 1 | (1,363) | (1) |
Net changes on financial assets | (5,471) | 762 |
Writte-off | ||
Foreign Exchange adjustments and others | (137) | (1,704) |
ECL allowance, ending balance | 23,792 | 24,329 |
Individual [Member] | Stage 1 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 1,701 | 1,627 |
Transfer: | ||
Transfers to stage 2 | (100) | (30) |
Transfers to stage 3 | (1) | |
Transfers to stage 3 | ||
Transfers to stage 1 | 46 | 1 |
Transfers to stage 2 | ||
Transfers to stage 1 | ||
Net changes on financial assets | (423) | 136 |
Writte-off | ||
Foreign Exchange adjustments and others | (9) | (32) |
ECL allowance, ending balance | 2,061 | 1,701 |
Individual [Member] | Stage 2 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 259 | 219 |
Transfer: | ||
Transfers to stage 2 | 122 | 65 |
Transfers to stage 3 | ||
Transfers to stage 3 | (24) | (11) |
Transfers to stage 1 | (82) | (7) |
Transfers to stage 2 | ||
Transfers to stage 1 | ||
Net changes on financial assets | (41) | 3 |
Writte-off | ||
Foreign Exchange adjustments and others | (8) | (10) |
ECL allowance, ending balance | 226 | 259 |
Individual [Member] | Stage 3 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 3,856 | 2,884 |
Transfer: | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 167 | 328 |
Transfers to stage 3 | 1,742 | 567 |
Transfers to stage 1 | ||
Transfers to stage 2 | (54) | |
Transfers to stage 1 | (130) | (1) |
Net changes on financial assets | (2,100) | 54 |
Writte-off | ||
Foreign Exchange adjustments and others | 6 | 24 |
ECL allowance, ending balance | 3,500 | 3,856 |
Collective [Member] | Stage 1 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 15,070 | 16,261 |
Transfer: | ||
Transfers to stage 2 | (318) | |
Transfers to stage 3 | (203) | |
Transfers to stage 3 | ||
Transfers to stage 1 | 122 | |
Transfers to stage 2 | ||
Transfers to stage 1 | 45 | |
Net changes on financial assets | (1,474) | 683 |
Writte-off | ||
Foreign Exchange adjustments and others | (115) | (1,874) |
ECL allowance, ending balance | 13,127 | 15,070 |
Collective [Member] | Stage 2 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 172 | 187 |
Transfer: | ||
Transfers to stage 2 | 878 | |
Transfers to stage 3 | ||
Transfers to stage 3 | (144) | |
Transfers to stage 1 | (473) | |
Transfers to stage 2 | 234 | |
Transfers to stage 1 | ||
Net changes on financial assets | (106) | (37) |
Writte-off | ||
Foreign Exchange adjustments and others | (19) | 22 |
ECL allowance, ending balance | 542 | 172 |
Collective [Member] | Stage 3 [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
ECL allowance, beginning balance | 3,271 | 3,182 |
Transfer: | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 4,675 | |
Transfers to stage 3 | 1,290 | |
Transfers to stage 1 | ||
Transfers to stage 2 | (1,444) | |
Transfers to stage 1 | (1,278) | |
Net changes on financial assets | 2,173 | (77) |
Writte-off | ||
Foreign Exchange adjustments and others | 8 | 166 |
ECL allowance, ending balance | $ 4,336 | $ 3,271 |
Other Liabilities (Details)
Other Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Liabilities | ||||
Accounts and notes payable | $ 214,216 | $ 163,216 | ||
Income received in advance | 640 | 673 | ||
Adjustment due to macro-hedging valuation | 7,039 | |||
Guarantees received (margin accounts) | [1] | 994,714 | 540,091 | |
Notes payable through brokerage and simultaneous transactions | [2] | 1,418,340 | 50,807 | |
Other payable obligations | [3] | 61,555 | 94,779 | |
Withholding VAT | 8,147 | 1,990 | ||
Accounts payable insurance companies | 9,510 | 8,424 | ||
Other liabilities | 99,203 | 33,388 | ||
Total | $ 2,806,325 | $ 900,407 | $ 745,363 | |
[1] | Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. | |||
[2] | In December 2019, Santander Corredora de Bolsa acted as an intermediary in the public offering of shares held between Latam and Delta, which was passed to the shareholders on January 3, 2019. | |||
[3] | Other payable obligations mainly relate to settlement of derivatives and other financial transactions derived from the operation of the Bank. |
Contingencies and Commitments_2
Contingencies and Commitments (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Contingencies and Commitments [Abstract] | ||
Letters of credit issued | $ 140,572 | $ 223,420 |
Foreign letters of credit confirmed | 70,192 | 57,038 |
Performance guarantee | 1,929,894 | 1,954,205 |
Personal guarantees | 451,950 | 133,623 |
Total contingent liabilities | 2,592,608 | 2,368,286 |
Available on demand credit lines | 8,732,422 | 8,997,650 |
Other irrevocable credit commitments | 485,991 | 327,297 |
Total loan commit ment | 9,218,413 | 9,324,947 |
Total | $ 11,811,021 | $ 11,693,233 |
Contingencies and Commitments_3
Contingencies and Commitments (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Third party operations | ||
Collections | $ 90,966 | $ 99,784 |
Transferred financial assets managed by the Bank | 21,507 | 26,262 |
Assets from third parties managed by the Bank and its affiliates | 1,592,845 | 1,630,431 |
Subtotal | 1,705,318 | 1,756,477 |
Custody of securities | ||
Securities held in custody | 9,731,894 | 11,160,488 |
Securities held in custody deposited in other entity | 1,206,541 | 861,405 |
Issued securities held in custody | 21,636,819 | 12,335,871 |
Subtotal | 32,575,254 | 24,357,764 |
Total | $ 34,280,572 | $ 26,114,241 |
Contingencies and Commitments_4
Contingencies and Commitments (Details Textual) - CLP ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Contingencies and Commitments (Textual) | |||
Estimated financial effect of contingent liabilities | $ 1,592,810 | $ 1,630,396 | |
Legal Proceedings Contingent Liability [Member] | |||
Contingencies and Commitments (Textual) | |||
Estimated financial effect of contingent liabilities | $ 1,274 | ||
Legal Proceedings Contingent Liability [Member] | Subsidiaries [member] | |||
Contingencies and Commitments (Textual) | |||
Estimated financial effect of contingent liabilities | $ 923 | ||
Guarantees [member] | USD [Member] | Non-adjusting events after reporting period [member] | |||
Contingencies and Commitments (Textual) | |||
Insurance policy cover amount for bank | $ 50 | ||
Guarantees [member] | Subsidiaries [member] | USD [Member] | Non-adjusting events after reporting period [member] | |||
Contingencies and Commitments (Textual) | |||
Insurance policy cover amount for bank and subsidiaries | $ 100 |
Equity (Details)
Equity (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
EQUITY | |||
Issued as of beginning of period | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Issuance of paid shares | |||
Issuance of outstanding shares | |||
Stock options exercised | |||
Issued as of end of period | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Equity (Details 1)
Equity (Details 1) - shares | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions between related parties [line items] | |||||
Shares | 163,624,085,523 | 161,960,126,723 | 157,207,260,723 | ||
American Depository Receipts (ADR) | [1] | 24,822,041,271 | 26,486,000,071 | 31,238,866,071 | |
Total | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |
Percentage of equity holding | 100.00% | 100.00% | 100.00% | ||
Santander Chile Holding S.A. [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 66,822,519,695 | 66,822,519,695 | 66,822,519,695 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 66,822,519,695 | 66,822,519,695 | 66,822,519,695 | ||
Percentage of equity holding | 35.46% | 35.46% | 35.46% | ||
Teatinos Siglo XXI Inversiones Limitada [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 59,770,481,573 | 59,770,481,573 | 59,770,481,573 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 59,770,481,573 | 59,770,481,573 | 59,770,481,573 | ||
Percentage of equity holding | 31.72% | 31.72% | 31.72% | ||
The Bank New York Mellon [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | |||||
American Depository Receipts (ADR) | [1] | 24,822,041,271 | 26,486,000,071 | 31,238,866,071 | |
Total | 24,822,041,271 | 26,486,000,071 | 31,238,866,071 | ||
Percentage of equity holding | 13.17% | 14.05% | 16.58% | ||
Banks On Behalf Of Third Parties [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 15,957,137,883 | 15,451,106,985 | 13,892,691,988 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 15,957,137,883 | 15,451,106,985 | 13,892,691,988 | ||
Percentage of equity holding | 8.47% | 8.20% | 7.37% | ||
Pension Funds (AFP) On Behalf Of Third Parties [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 9,995,705,956 | 9,033,172,896 | 6,896,552,755 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 9,995,705,956 | 9,033,172,896 | 6,896,552,755 | ||
Percentage of equity holding | 5.30% | 4.79% | 3.66% | ||
Stock Brokers On Behalf Of Third Parties [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 5,551,024,270 | 4,773,558,507 | 3,762,310,365 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 5,551,024,270 | 4,773,558,507 | 3,762,310,365 | ||
Percentage of equity holding | 2.95% | 2.53% | 2.00% | ||
Other Minority Holders [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Shares | 5,527,216,146 | 6,109,287,067 | 6,062,704,347 | ||
American Depository Receipts (ADR) | [1] | ||||
Total | 5,527,216,146 | 6,109,287,067 | 6,062,704,347 | ||
Percentage of equity holding | 2.93% | 3.25% | 3.21% | ||
[1] | American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. |
Equity (Details 2)
Equity (Details 2) - CLP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic earnings per share | |||
Total attributable to the shareholders of the Bank | $ 619,091 | $ 595,333 | $ 562,801 |
Weighted average number of outstanding shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Basic earnings per share (in Ch$) | $ 3.285 | $ 3.159 | $ 2.987 |
Basic earnings per share from continuing operations (in Ch$) | 3.276 | 3.139 | 2.975 |
Basic earnings per share from discontinued operations (in Ch$) | $ 0.009 | $ 0.02 | $ 0.015 |
Diluted earnings per share | |||
Total attributable to the shareholders of the Bank | $ 619,091 | $ 595,333 | $ 562,801 |
Weighted average number of outstanding shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Adjusted number of shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Diluted earnings per share (in Ch$) | $ 3.285 | $ 3.159 | $ 2.987 |
Diluted earnings per share from continuing operations (in Ch$) | 3.276 | 3.139 | 2.975 |
Diluted earnings per share from discontinued operations (in Ch$) | $ 0.009 | $ 0.02 | $ 0.015 |
Equity (Details 3)
Equity (Details 3) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt instruments at FVOCI | |||
As of beginning of period | $ 6,962 | $ 1,855 | |
Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax | (17,775) | 6,609 | |
Recycling from other comprehensive income to income for the year | 39,997 | (1,502) | |
Available for sale investments | |||
As of beginning of period | 7,375 | ||
Gain (losses) on the re-measurement of available for sale investments, before tax | (10,384) | ||
Recycling from other comprehensive income to income for the year | 4,864 | ||
Subtotals | (5,520) | ||
As of end of period | 29,184 | ||
Cash flow hedges | |||
As of beginning of period | 9,803 | (3,562) | 2,288 |
Gains (losses) on the re-measurement of cash flow hedges, before tax | (49,163) | 14,048 | (5,850) |
Recycling adjustments on cash flow hedges, before tax | (1,075) | (683) | |
Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction | |||
Subtotals | (50,238) | 13,365 | (5,850) |
As of end of period | (40,435) | 9,803 | (3,562) |
Other comprehensive income, before taxes | (11,251) | 16,765 | (1,707) |
Income tax related to other comprehensive income components | |||
Income tax relating to debt instruments at FVOCI | (7,756) | (1,810) | |
Income tax relating to available for sale investments | (473) | ||
Income tax relating to cash flow hedges | 10,918 | (2,646) | 908 |
Total | 3,162 | (4,456) | 435 |
Other comprehensive income, net of tax | (8,089) | 12,309 | (1,272) |
Attributable to: | |||
Shareholders of the Bank | (8,856) | 11,353 | (2,312) |
Non-controlling interest | $ 767 | $ 956 | $ 1,040 |
Equity (Details Textual)
Equity (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Apr. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
EQUITY | |||||
Shares outstanding | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |
Increase in capital | $ 891,303 | ||||
Percentage of capitalization earnings | 40.00% | ||||
Retained earnings to reserves | 236,761 | $ 141,204 | $ 141,706 | ||
Negative equity effect | $ 37,041 |
Non-Controlling Interest (Detai
Non-Controlling Interest (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Statement Line Items [Line Items] | ||||
Equity | $ 79,633 | $ 46,163 | $ 41,883 | |
Income | 2,222 | 4,360 | 12,448 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | (260) | (86) | ||
Available for sale investments | 470 | |||
Deferred tax | 71 | 2 | (134) | |
Total other comprehensive income | (189) | (84) | 336 | |
Comprehensive income | $ 2,222 | $ 4,276 | $ 12,784 | |
Santander Corredora de Seguros Limitada [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 0.25% | 0.25% | 25.00% | |
Equity | $ 178 | $ 172 | $ 167 | |
Income | 6 | 4 | 4 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | 1 | (2) | ||
Deferred tax | ||||
Total other comprehensive income | 1 | (2) | ||
Comprehensive income | $ 7 | $ 2 | $ 4 | |
Santander Corredores de Bolsa Limitada [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 49.41% | 49.41% | 4941.00% | |
Equity | $ 22,301 | $ 21,673 | $ 21,000 | |
Income | 625 | 755 | 702 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | (261) | (84) | ||
Available for sale investments | 470 | |||
Deferred tax | 71 | 2 | (134) | |
Total other comprehensive income | (190) | (82) | 336 | |
Comprehensive income | $ 435 | $ 673 | $ 1,038 | |
Santander Asesorias Financieras Limitada [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | [1] | 0.97% | ||
Equity | [1] | $ 498 | ||
Income | [1] | 9 | ||
Other comprehensive income | ||||
Debt instruments at FVOCI | [1] | |||
Deferred tax | [1] | |||
Total other comprehensive income | [1] | |||
Comprehensive income | [1] | $ 9 | ||
Santander S.A. Sociedad Securitizadora [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 0.36% | 0.36% | 36.00% | |
Equity | $ 2 | $ 2 | $ 2 | |
Income | ||||
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Available for sale investments | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | ||||
Klare Corredora de Seguros S.A. [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 49.90% | |||
Equity | $ 3,782 | |||
Income | (503) | |||
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ (503) | |||
Santander Consumer Chile S.A. [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | [2] | 49.00% | ||
Equity | [2] | $ 24,564 | ||
Income | [2] | 1,544 | ||
Other comprehensive income | ||||
Debt instruments at FVOCI | [2] | |||
Deferred tax | [2] | |||
Total other comprehensive income | [2] | |||
Comprehensive income | [2] | 1,544 | ||
Total subsidiaries [Member] | ||||
Statement Line Items [Line Items] | ||||
Equity | 51,325 | 22,335 | 21,558 | |
Income | 1,681 | 858 | 838 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | (260) | (86) | ||
Available for sale investments | 470 | |||
Deferred tax | 71 | 2 | (134) | |
Total other comprehensive income | (189) | (84) | 336 | |
Comprehensive income | $ 1,492 | $ 774 | $ 1,174 | |
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 100.00% | 100.00% | 10000.00% | |
Equity | $ 3,777 | $ 3,777 | $ 2,925 | |
Income | 1,031 | 852 | 741 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Available for sale investments | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 1,031 | $ 852 | $ 741 | |
Bansa Santander S.A.[Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 100.00% | 100.00% | 10000.00% | |
Equity | $ 20,051 | $ 20,051 | $ 17,401 | |
Income | (486) | 2,650 | 10,869 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Available for sale investments | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ (486) | 2,650 | 10,869 | |
Multiplica Spa [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 100.00% | |||
Equity | $ 4,480 | |||
Income | (4) | |||
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | (4) | |||
Total Entities controlled through other considerations [Member] | ||||
Statement Line Items [Line Items] | ||||
Equity | 28,308 | 23,828 | 20,326 | |
Income | 541 | 3,502 | $ 11,610 | |
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 541 | $ 3,502 | ||
Santander Agente de Valores Limitada [Member] | ||||
Statement Line Items [Line Items] | ||||
Non-controlling | 0.97% | 97.00% | ||
Equity | $ 488 | $ 389 | ||
Income | 99 | 132 | ||
Other comprehensive income | ||||
Debt instruments at FVOCI | ||||
Available for sale investments | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 99 | $ 132 | ||
[1] | Ex Santander Agente de Valores Limitada | |||
[2] | On November27, 2019, the Bank acquired the 51% of Santander Consumer S.A., the remaining 49% is accounted as non-controlling interest. |
Non-Controlling Interest (Det_2
Non-Controlling Interest (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [line items] | |||
Assets | $ 2,228,682 | $ 258,617 | $ 246,559 |
Liabilities | 1,972,044 | 71,272 | 76,475 |
Capital | 239,990 | 170,296 | 142,079 |
Net income | 16,648 | 17,049 | 28,005 |
Santander Corredora de Seguros Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 82,918 | 77,764 | 76,177 |
Liabilities | 12,372 | 9,595 | 9,803 |
Capital | 68,159 | 66,374 | 64,937 |
Net income | 2,387 | 1,795 | 1,437 |
Santander Corredores de Bolsa Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 1,479,974 | 102,228 | 88,711 |
Liabilities | 1,434,843 | 57,999 | 45,855 |
Capital | 43,866 | 42,691 | 41,424 |
Net income | 1,265 | 1,538 | 1,432 |
Santander Asesorias Financieras Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 51,505 | 50,552 | |
Liabilities | 51 | 71 | |
Capital | 50,481 | 40,177 | 26,569 |
Net income | 973 | 10,304 | |
Santander S.A. Sociedad Securitizadora [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 636 | 704 | 400 |
Liabilities | 88 | 66 | 50 |
Capital | 639 | 728 | 432 |
Net income | (91) | (90) | (82) |
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 8,200 | 6,932 | 10,826 |
Liabilities | 3,392 | 3,155 | 7,901 |
Capital | 3,777 | 2,925 | 2,184 |
Net income | 1,031 | 852 | 741 |
Bansa Santander S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 87,607 | 20,437 | 25,535 |
Liabilities | 68,042 | 386 | 8,134 |
Capital | 20,051 | 17,401 | 6,533 |
Net income | (486) | $ 2,650 | $ 10,868 |
Klare Corredora de Seguros S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 8,303 | ||
Liabilities | 724 | ||
Capital | 8,586 | ||
Net income | (1,007) | ||
Santander Consumer Chile S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 505,059 | ||
Liabilities | 452,528 | ||
Capital | 39,951 | ||
Net income | 12,580 | ||
Multiplica Spa [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 4,480 | ||
Liabilities | 4 | ||
Capital | 4,480 | ||
Net income | $ (4) |
Interest Income (Details)
Interest Income (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | $ 2,314,637 | $ 2,243,123 | $ 2,031,133 |
Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 1,815,170 | 1,775,256 | 1,773,066 |
Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 474,427 | 449,784 | 242,390 |
Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 25,040 | 18,083 | 15,677 |
Resale Agreements [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 718 | 903 | 939 |
Resale Agreements [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 718 | 903 | 939 |
Resale Agreements [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Resale Agreements [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Interbank Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 1,263 | 897 | 969 |
Interbank Loan [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 1,263 | 897 | 969 |
Interbank Loan [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Interbank Loan [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Commercial Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 957,224 | 936,264 | 847,927 |
Commercial Loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 780,284 | 771,405 | 752,013 |
Commercial Loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 160,462 | 153,851 | 85,389 |
Commercial Loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 16,478 | 11,008 | 10,525 |
Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 633,938 | 597,655 | 469,758 |
Mortgage Loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 349,663 | 330,055 | 320,041 |
Mortgage Loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 283,820 | 266,691 | 149,303 |
Mortgage Loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 455 | 909 | 414 |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 602,196 | 586,534 | 618,033 |
Consumer Loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 593,705 | 579,929 | 612,932 |
Consumer Loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 384 | 439 | 363 |
Consumer Loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 8,107 | 6,166 | 4,738 |
Investment Instruments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 97,319 | 100,213 | 79,797 |
Investment Instruments [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 71,150 | 75,423 | 74,000 |
Investment Instruments [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 26,169 | 24,790 | 5,797 |
Investment Instruments [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Other Interest Income [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 21,979 | 20,657 | 13,710 |
Other Interest Income [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 18,387 | 16,644 | 12,172 |
Other Interest Income [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 3,592 | 4,013 | 1,538 |
Other Interest Income [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting |
Interest Income (Details 1)
Interest Income (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | $ (866,327) | $ (809,956) | $ (719,850) |
Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (680,827) | (629,467) | (617,200) |
Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (185,500) | (180,489) | (102,650) |
Demand Deposits [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (15,526) | (16,285) | (14,546) |
Demand Deposits [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (14,018) | (14,914) | (13,851) |
Demand Deposits [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (1,508) | (1,371) | (695) |
Repurchase Agreements [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (9,710) | (6,439) | (6,514) |
Repurchase Agreements [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (9,710) | (6,439) | (6,514) |
Repurchase Agreements [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | |||
Time Deposits And Liabilities [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (362,479) | (352,345) | (362,330) |
Time Deposits And Liabilities [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (335,307) | (317,061) | (341,821) |
Time Deposits And Liabilities [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (27,172) | (35,284) | (20,509) |
Interbank Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (50,354) | (39,971) | (26,805) |
Interbank Loan [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (50,354) | (39,971) | (26,805) |
Interbank Loan [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | |||
Issued Debt Instruments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (395,999) | (374,682) | (296,197) |
Issued Debt Instruments [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (250,512) | (241,455) | (220,027) |
Issued Debt Instruments [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (145,487) | (133,227) | (76,170) |
Other financial liabilities [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (1,343) | (2,808) | (3,249) |
Other financial liabilities [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (1,310) | (2,698) | (2,946) |
Other financial liabilities [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (33) | (110) | (303) |
Lease contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (2,965) | ||
Lease contracts [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (2,965) | ||
Lease contracts [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | |||
Other Interest Expense [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (27,951) | (17,426) | (10,209) |
Other Interest Expense [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (16,651) | (6,929) | (5,236) |
Other Interest Expense [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | $ (11,300) | $ (10,497) | $ (4,973) |
Interest Income (Details 2)
Interest Income (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Income [Abstract] | |||
Interest income not including income from hedge accounting | $ 2,314,637 | $ 2,243,123 | $ 2,031,133 |
Interest expense not including expense from hedge accounting | (866,327) | (809,956) | (719,850) |
Net Interest income (expense) from hedge accounting | 1,448,310 | 1,433,167 | 1,311,283 |
Hedge accounting (net) | (31,346) | (18,799) | 15,408 |
Total net interest income | $ 1,416,964 | $ 1,414,368 | $ 1,326,691 |
Fees and Commissions (Details)
Fees and Commissions (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fee and commission income | |||
Fees and commissions for lines of credits and overdrafts | $ 10,315 | $ 6,624 | $ 7,413 |
Fees and commissions for guarantees and letters of credit | 35,039 | 33,654 | 33,882 |
Fees and commissions for card services | 225,702 | 218,903 | 201,791 |
Fees and commissions for management of accounts | 35,949 | 33,865 | 31,901 |
Fees and commissions for collections and payments | 33,355 | 40,077 | 44,312 |
Fees and commissions for intermediation and management of securities | 10,154 | 10,147 | 10,090 |
Insurance brokerage fees | 49,664 | 39,949 | 36,430 |
Office banking | 13,655 | 15,921 | 15,669 |
Fees for other services rendered | 47,331 | 45,633 | 43,123 |
Other fees earned | 37,494 | 39,690 | 30,947 |
Total | 498,658 | 484,463 | 455,558 |
Fee and commission expense | |||
Compensation for card operation | (171,513) | (163,794) | (149,809) |
Fees and commissions for securities transactions | (1,001) | (936) | (858) |
Office banking | (1,860) | (4,096) | (15,283) |
Other fees | (37,198) | (24,752) | (10,545) |
Total | (211,572) | (193,578) | (176,495) |
Net fees and commissions income | $ 287,086 | $ 290,885 | $ 279,063 |
Fees and Commissions (Details 1
Fees and Commissions (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Commission income | |||
Commissions for lines of credit and overdrafts | $ 10,315 | $ 6,624 | $ 7,413 |
Commissions for guarantees and letters of credit | 35,039 | 33,654 | 33,882 |
Commissions for card services | 225,702 | 218,903 | 201,791 |
Commissions for account management | 35,949 | 33,865 | 31,901 |
Commissions for collections, collections and payments | 33,355 | 40,077 | 44,312 |
Commissions for intermediation and management of values | 10,154 | 10,147 | 10,090 |
Remuneration for insurance commercialization | 49,664 | 39,949 | 36,430 |
Office banking | 13,655 | 15,921 | 15,669 |
Other remuneration for services rendered | 47,331 | 45,633 | 43,123 |
Other commissions earned | 37,494 | 39,690 | 30,947 |
Total | 498,658 | 484,463 | 455,558 |
Commission expenses | |||
Remuneration for card operation | (171,513) | (163,794) | (149,809) |
Commissions per transaction with securities | (1,001) | (936) | (858) |
Office banking | (1,860) | (4,096) | (15,283) |
Other commissions | (37,198) | (24,752) | (10,545) |
Total | (211,572) | (193,578) | (176,495) |
Total Net commission income and expenses | 287,086 | 290,885 | 279,063 |
Transferred over time [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 10,315 | 6,624 | |
Commissions for guarantees and letters of credit | 35,039 | 33,654 | |
Commissions for card services | 41,347 | 34,856 | |
Commissions for account management | 35,949 | 33,865 | |
Commissions for collections, collections and payments | |||
Commissions for intermediation and management of values | |||
Remuneration for insurance commercialization | |||
Office banking | |||
Other remuneration for services rendered | |||
Other commissions earned | |||
Total | 122,650 | 108,999 | |
Commission expenses | |||
Remuneration for card operation | |||
Commissions per transaction with securities | |||
Office banking | |||
Other commissions | |||
Total | |||
Total Net commission income and expenses | 122,650 | 108,999 | |
Transferred at a point in time [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | |||
Commissions for guarantees and letters of credit | |||
Commissions for card services | 184,355 | 184,047 | |
Commissions for account management | |||
Commissions for collections, collections and payments | 12,854 | 15,719 | |
Commissions for intermediation and management of values | 10,154 | 10,147 | |
Remuneration for insurance commercialization | |||
Office banking | 13,655 | 15,921 | |
Other remuneration for services rendered | 47,331 | 45,633 | |
Other commissions earned | 37,494 | 39,690 | |
Total | 305,843 | 311,157 | |
Commission expenses | |||
Remuneration for card operation | (171,513) | (163,794) | |
Commissions per transaction with securities | (1,001) | (936) | |
Office banking | (1,860) | (4,096) | |
Other commissions | (37,198) | (24,752) | |
Total | (211,572) | (193,578) | |
Total Net commission income and expenses | 94,271 | 117,579 | |
Accrual model [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | |||
Commissions for guarantees and letters of credit | |||
Commissions for card services | |||
Commissions for account management | |||
Commissions for collections, collections and payments | 20,501 | 24,358 | |
Commissions for intermediation and management of values | |||
Remuneration for insurance commercialization | 49,664 | 39,949 | |
Office banking | |||
Other remuneration for services rendered | |||
Other commissions earned | |||
Total | 70,165 | 64,307 | |
Commission expenses | |||
Remuneration for card operation | |||
Commissions per transaction with securities | |||
Office banking | |||
Other commissions | |||
Total | |||
Total Net commission income and expenses | 70,165 | 64,307 | |
Individuals and PYMEs [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 6,123 | 5,901 | |
Commissions for guarantees and letters of credit | 11,553 | 11,099 | |
Commissions for card services | 218,635 | 211,615 | |
Commissions for account management | 32,608 | 30,386 | |
Commissions for collections, collections and payments | 36,129 | 66,780 | |
Commissions for intermediation and management of values | 3,219 | 4,050 | |
Remuneration for insurance commercialization | 49,664 | ||
Office banking | 9,280 | 11,420 | |
Other remuneration for services rendered | 42,499 | 40,901 | |
Other commissions earned | 12,462 | 6,908 | |
Total | 422,172 | 389,060 | |
Commission expenses | |||
Remuneration for card operation | (168,024) | (159,817) | |
Commissions per transaction with securities | (169) | ||
Office banking | (1,186) | (2,374) | |
Other commissions | (22,335) | (6,168) | |
Total | (191,545) | (168,528) | |
Total Net commission income and expenses | 230,627 | 220,532 | |
Companies and Institutions [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 935 | 271 | |
Commissions for guarantees and letters of credit | 17,531 | 16,258 | |
Commissions for card services | 6,042 | 6,193 | |
Commissions for account management | 2,515 | 2,678 | |
Commissions for collections, collections and payments | 2,185 | 1,693 | |
Commissions for intermediation and management of values | 245 | 134 | |
Remuneration for insurance commercialization | |||
Office banking | 3,782 | 3,893 | |
Other remuneration for services rendered | 3,748 | 3,833 | |
Other commissions earned | 10,727 | 9,743 | |
Total | 47,710 | 44,696 | |
Commission expenses | |||
Remuneration for card operation | (3,475) | (3,186) | |
Commissions per transaction with securities | (3) | ||
Office banking | (389) | (985) | |
Other commissions | (5,134) | (3,776) | |
Total | (8,998) | (7,950) | |
Total Net commission income and expenses | 38,712 | 36,746 | |
Global Investment Banking [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 3,240 | 453 | |
Commissions for guarantees and letters of credit | 5,842 | 6,239 | |
Commissions for card services | 950 | 1,036 | |
Commissions for account management | 823 | 799 | |
Commissions for collections, collections and payments | 464 | 458 | |
Commissions for intermediation and management of values | 8,301 | 7,221 | |
Remuneration for insurance commercialization | |||
Office banking | 606 | 608 | |
Other remuneration for services rendered | 839 | 819 | |
Other commissions earned | 14,293 | 23,320 | |
Total | 35,358 | 40,953 | |
Commission expenses | |||
Remuneration for card operation | (321) | (134) | |
Commissions per transaction with securities | (33) | (419) | |
Office banking | (282) | (722) | |
Other commissions | (5,619) | (4,614) | |
Total | (6,255) | (5,889) | |
Total Net commission income and expenses | 29,103 | 35,064 | |
Others [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 17 | (1) | |
Commissions for guarantees and letters of credit | 113 | 58 | |
Commissions for card services | 75 | 59 | |
Commissions for account management | 3 | 2 | |
Commissions for collections, collections and payments | (5,423) | (28,854) | |
Commissions for intermediation and management of values | (1,611) | (1,258) | |
Remuneration for insurance commercialization | 39,949 | ||
Office banking | (13) | ||
Other remuneration for services rendered | 245 | 80 | |
Other commissions earned | 12 | (281) | |
Total | (6,582) | 9,754 | 1,651 |
Commission expenses | |||
Remuneration for card operation | 307 | (657) | |
Commissions per transaction with securities | (968) | (345) | |
Office banking | (3) | (15) | |
Other commissions | (4,110) | (10,194) | |
Total | (4,774) | (11,211) | |
Total Net commission income and expenses | (11,356) | (1,457) | |
Total [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 10,315 | 6,624 | |
Commissions for guarantees and letters of credit | 35,039 | 33,654 | |
Commissions for card services | 225,702 | 218,903 | |
Commissions for account management | 35,949 | 33,865 | |
Commissions for collections, collections and payments | 33,355 | 40,077 | |
Commissions for intermediation and management of values | 10,154 | 10,147 | |
Remuneration for insurance commercialization | 49,664 | 39,949 | |
Office banking | 13,655 | 15,921 | |
Other remuneration for services rendered | 47,331 | 45,633 | |
Other commissions earned | 37,494 | 39,690 | |
Total | 498,658 | 311,157 | $ 254,424 |
Commission expenses | |||
Remuneration for card operation | (171,513) | (163,794) | |
Commissions per transaction with securities | (1,001) | (936) | |
Office banking | (1,860) | (4,096) | |
Other commissions | (37,198) | (24,752) | |
Total | (211,572) | (193,578) | |
Total Net commission income and expenses | $ 287,086 | $ 290,885 |
Net Income (Expense) From Fin_3
Net Income (Expense) From Financial Operations (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Income (expense) from financial operations | |||||
Net gains on trading derivatives | $ (162,183) | $ 38,217 | $ (18,974) | ||
Trading investments | 10,008 | ||||
Net gains on financial assets at fair value through profit or loss | 11,878 | 9,393 | |||
Net gains on derecognition of financial assets measured at amortised cost | 63,672 | 8,479 | |||
Sale of loans and accounts receivables from customers | |||||
Current portfolio | 63 | (309) | 3,020 | ||
Charged-off portfolio | 3,248 | 709 | 3,020 | ||
Available for sale investments | 8,956 | ||||
Repurchase of issued bonds | 3,265 | [1] | (840) | [1] | (742) |
Other income (expense) from financial operations | 1,892 | (2,475) | (2,492) | ||
Total income (expense) | $ (78,165) | $ 53,174 | $ 2,796 | ||
[1] | The Bank repurchased its own bonds, see Note 3 for details. |
Net Foreign Exchange Gain (Lo_3
Net Foreign Exchange Gain (Loss) (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net foreign exchange gain (loss) | |||
Net profit (loss) from currency exchange differences | $ (89,893) | $ (212,618) | $ 113,115 |
Hedging derivatives | 362,374 | 252,275 | 22,933 |
Income from assets indexed to foreign currency | 7,376 | 12,251 | (9,190) |
Income from liabilities indexed to foreign currency | 98 | ||
Total | $ 279,857 | $ 51,908 | $ 126,956 |
Expected Credit Losses Allowa_3
Expected Credit Losses Allowance (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | ||
Commercial loans | $ (140,245) | $ (142,783) |
Mortgage loans | (14,412) | 14,121 |
Consumer loans | (169,483) | (189,251) |
Contingent loans | 1,008 | 8 |
Loans and account receivable at FVOCI | 5 | 431 |
Debt at FVOCI | (184) | 66 |
Total | (323,311) | (317,408) |
Stage 1 [Member] | Individual [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (3,002) | 79 |
Mortgage loans | ||
Consumer loans | ||
Contingent loans | 45 | (90) |
Loans and account receivable at FVOCI | 5 | 363 |
Debt at FVOCI | ||
Total | (2,952) | 352 |
Stage 1 [Member] | Collective [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (4,930) | 5,652 |
Mortgage loans | (1,177) | 5,583 |
Consumer loans | (8,875) | 1,861 |
Contingent loans | 589 | 1,214 |
Loans and account receivable at FVOCI | ||
Debt at FVOCI | (184) | 66 |
Total | (14,577) | 14,376 |
Stage 2 [Member] | Individual [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (10,469) | (2,891) |
Mortgage loans | ||
Consumer loans | ||
Contingent loans | 10 | 11 |
Loans and account receivable at FVOCI | 68 | |
Debt at FVOCI | ||
Total | (10,459) | 3,752 |
Stage 2 [Member] | Collective [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (8,686) | (1,533) |
Mortgage loans | (4,998) | 5,161 |
Consumer loans | (15,280) | 192 |
Contingent loans | 24 | (68) |
Loans and account receivable at FVOCI | ||
Debt at FVOCI | ||
Total | (28,940) | 3,752 |
Stage 3 [Member] | Individual [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (79,501) | (96,131) |
Mortgage loans | ||
Consumer loans | ||
Contingent loans | 152 | (225) |
Loans and account receivable at FVOCI | ||
Debt at FVOCI | ||
Total | (79,349) | (96,356) |
Stage 3 [Member] | Collective [Member] | ||
Disclosure of financial assets [line items] | ||
Commercial loans | (33,657) | (47,959) |
Mortgage loans | (8,237) | 3,377 |
Consumer loans | (145,328) | (191,304) |
Contingent loans | 188 | (834) |
Loans and account receivable at FVOCI | ||
Debt at FVOCI | ||
Total | $ (187,034) | $ (236,720) |
Expected Credit Losses Allowa_4
Expected Credit Losses Allowance (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | $ 51,978 | ||
Total provisions and charge-offs | (36,279) | ||
Provisions released | $ (207,693) | $ (210,781) | (55,018) |
Net charge offs of individually significant loans | 15,699 | ||
Personnel Salaries And Expenses [Member] | |||
Disclosure of financial assets [line items] | |||
Provisions released | |||
Mandatory Dividends [Member] | |||
Disclosure of financial assets [line items] | |||
Provisions released | |||
Contingencies [Member] | |||
Disclosure of financial assets [line items] | |||
Provisions released | (46,357) | ||
Loans to Customers [Member] | Provisions for Loan Losses [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | (15,699) | ||
Provisions established | (516,646) | ||
Total provisions and charge-offs | (532,345) | ||
Provisions released | 146,563 | ||
Recovery of loans previously charged off | 83,527 | ||
Net charge offs of individually significant loans | (302,255) | ||
Loans to Customers [Member] | Commercial Loans [Member] | Provisions for Loan Losses [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (148,681) | ||
Total provisions and charge-offs | (148,681) | ||
Provisions released | 20,491 | ||
Recovery of loans previously charged off | 21,499 | ||
Net charge offs of individually significant loans | (106,691) | ||
Loans to Customers [Member] | Commercial Loans [Member] | Provisions for Loan Losses [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | (15,699) | ||
Provisions established | (64,658) | ||
Total provisions and charge-offs | (80,357) | ||
Provisions released | 55,925 | ||
Recovery of loans previously charged off | 11,114 | ||
Net charge offs of individually significant loans | (13,318) | ||
Loans to Customers [Member] | Mortgage Loans [Member] | Provisions for Loan Losses [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (43,621) | ||
Total provisions and charge-offs | (43,621) | ||
Provisions released | 11,427 | ||
Recovery of loans previously charged off | 10,942 | ||
Net charge offs of individually significant loans | (21,252) | ||
Loans to Customers [Member] | Consumer Loans [Member] | Provisions for Loan Losses [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (252,038) | ||
Total provisions and charge-offs | (252,038) | ||
Provisions released | 46,089 | ||
Recovery of loans previously charged off | 39,972 | ||
Net charge offs of individually significant loans | (165,977) | ||
Loans to Customers [Member] | Contingent Loan [Member] | Provisions for Loan Losses [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (4,224) | ||
Total provisions and charge-offs | (4,224) | ||
Provisions released | 1,660 | ||
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | (2,564) | ||
Loans to Customers [Member] | Contingent Loan [Member] | Provisions for Loan Losses [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (3,117) | ||
Total provisions and charge-offs | (3,117) | ||
Provisions released | 7,001 | ||
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | 3,884 | ||
Loans to Customers [Member] | Interbank Loan [Member] | Provisions for Loan Losses [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (307) | ||
Total provisions and charge-offs | (307) | ||
Provisions released | 3,970 | ||
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | $ 3,663 |
Expected Credit Losses Allowa_5
Expected Credit Losses Allowance (Details 2) $ in Millions | 12 Months Ended |
Dec. 31, 2017CLP ($) | |
Expected Credit Losses Allowance [Abstract] | |
Charge-off of loans | $ 51,978 |
Provision applied | (36,279) |
Net charge offs of individually significant loans | $ 15,699 |
Personnel Salaries and Expens_3
Personnel Salaries and Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Personnel Salaries and Expenses [Abstract] | |||
Personnel compensation | $ 260,445 | $ 259,354 | $ 250,962 |
Bonuses or gratifications | 78,534 | 72,728 | 75,181 |
Stock-based benefits | (315) | (337) | 2,752 |
Seniority compensation | 25,006 | 21,869 | 26,120 |
Pension plans | 566 | 1,069 | 2,039 |
Training expenses | 4,918 | 3,782 | 2,867 |
Day care and kindergarten | 2,731 | 2,778 | 2,505 |
Health funds | 4,748 | ||
Welfare funds | 6,644 | 6,040 | 896 |
Other personnel expenses | 31,628 | 30,281 | 28,897 |
Total | $ 410,157 | $ 397,564 | $ 396,967 |
Administrative Expenses (Detail
Administrative Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Administrative Expenses [Abstract] | |||
General administrative expenses | $ 124,896 | $ 145,241 | $ 139,418 |
Maintenance and repair of property, plant and equipment | 19,214 | 20,962 | 21,359 |
Office lease | 29,761 | 26,136 | |
Equipment lease | 55 | 96 | |
Short term leases contracts | 4,177 | ||
Insurance payments | 3,848 | 3,439 | 3,354 |
Office supplies | 5,126 | 5,070 | 6,862 |
IT and communication expenses | 52,017 | 44,209 | 39,103 |
Heating, and other utilities | 2,848 | 4,849 | 5,468 |
Security and valuables transport services | 12,187 | 12,168 | 12,181 |
Representation and personnel travel expenses | 4,109 | 3,444 | 4,262 |
Judicial and notarial expenses | 1,277 | 1,148 | 974 |
Fees for technical reports and auditing | 7,643 | 10,020 | 9,379 |
Other general administrative expenses | 12,450 | 10,116 | 10,244 |
Outsourced services | 71,572 | 65,358 | 57,400 |
Data processing | 31,921 | 32,360 | 34,880 |
Archive services | 3,518 | 3,401 | 3,324 |
Valuation services | 3,644 | 3,167 | 2,419 |
Outsourcing | 10,139 | 9,936 | 6,878 |
Other | 22,350 | 16,494 | 9,899 |
Board expenses | 1,356 | 1,297 | 1,290 |
Marketing expenses | 20,891 | 19,286 | 18,877 |
Taxes, payroll taxes, and contributions | 14,897 | 13,907 | 13,118 |
Real estate taxes | 1,954 | 1,730 | 1,443 |
Patents | 1,913 | 1,896 | 1,646 |
Other taxes | 5 | 7 | 24 |
Contributions to CMF (former SBIF) | 11,025 | 10,274 | 10,005 |
Total | $ 233,612 | $ 245,089 | $ 230,103 |
Depreciation, Amortization, a_3
Depreciation, Amortization, and Impairment (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation and amortization | |||
Depreciation of property, plant, and equipment | $ (52,855) | $ (54,987) | $ (55,623) |
Amortization of Intangible assets | (26,348) | (24,293) | (22,200) |
Depreciation right of use assets | (26,889) | ||
Total depreciation and amortization | (106,092) | (79,280) | (77,823) |
Impairment of property, plant, and equipment | (1,013) | (39) | (354) |
Impairment of right of use assets | (1,713) | ||
Impairment of intangibles | (5,290) | ||
Total impairment | (2,726) | (39) | (5,644) |
Total | $ (108,818) | $ (79,319) | $ (83,467) |
Other Operating Income and Ex_3
Other Operating Income and Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Other Operating Income and Expenses [Abstract] | ||||
Income from assets received in lieu of payment | $ 5,613 | $ 7,106 | $ 3,330 | |
Release of contingencies provisions | [1] | 12,020 | 29,903 | |
Other income | 7,388 | 4,003 | 28,783 | |
Leases | 222 | 264 | ||
Income from sale of property, plant and equipment | [1] | 2,456 | 2,490 | 23,229 |
Recovery of provisions for contingencies | ||||
Compensation from insurance companies due to damages | 4,681 | 144 | 1,237 | |
Other | 251 | 1,147 | 4,053 | |
Total | $ 13,001 | $ 23,129 | $ 62,016 | |
[1] | Corresponds to legal cession of rights made by Bansa Santander S.A. which result in an income of Ch$2,122 million, as of December 31, 2018. See Note N26. |
Other Operating Income and Ex_4
Other Operating Income and Expenses (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Operating Income and Expenses [Abstract] | |||
Allowances and expenses for assets received in lieu of payment | $ 3,900 | $ 2,537 | $ 5,591 |
Provision on assets received in lieu of payment | 1,828 | 816 | 3,912 |
Expenses for maintenance of assets received in lieu of payment | 2,072 | 1,721 | 1,679 |
Credit card expenses | 1,077 | 3,151 | 3,070 |
Customer services | 2,456 | 3,635 | 2,563 |
Other expenses | 41,870 | 23,019 | 57,189 |
Operating charge-offs | 973 | 798 | 1,607 |
Life insurance and general product insurance policies | 21,205 | 9,964 | 23,475 |
Sale of property plant and equipment | 67 | 62 | |
Additional tax on expenses paid overseas | |||
Provisions for contingencies | 120 | 21 | |
Retail association payment | 343 | 898 | 912 |
Expense on sale of participation on associates | 126 | ||
Expense on social commotion event | 1,823 | ||
Other | 17,213 | 11,276 | 31,195 |
Total | $ 49,303 | $ 32,342 | $ 68,413 |
Transactions with Related Par_3
Transactions with Related Parties (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans and accounts receivable: | |||
Commercial loans | $ 400 | ||
Allowance for loan losses | 2,042 | $ 723 | |
Companies Of The Group [Member] | |||
Loans and accounts receivable: | |||
Commercial loans | 246,868 | 122,289 | $ 80,076 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable | 246,868 | 122,289 | 80,076 |
Allowance for loan losses | (122) | (308) | (209) |
Net loans | 246,746 | 121,981 | 79,867 |
Guarantees | 462,513 | 442,854 | 361,452 |
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | 4,112 | 5,392 | 19,251 |
Guarantees | 464,691 | 445,064 | 377,578 |
Contingent loans | 468,803 | 450,456 | 396,829 |
Allowance for contingent loans | (835) | (1) | (4) |
Net contingent loans | 467,968 | 450,455 | 396,825 |
Associated Companies [Member] | |||
Loans and accounts receivable: | |||
Commercial loans | 375 | 459 | 771 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable | 375 | 459 | 771 |
Allowance for loan losses | (182) | (9) | (9) |
Net loans | 193 | 450 | 762 |
Guarantees | |||
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | |||
Guarantees | |||
Contingent loans | |||
Allowance for contingent loans | |||
Net contingent loans | |||
Key Personnel [Member] | |||
Loans and accounts receivable: | |||
Commercial loans | 2,986 | 4,299 | 3,947 |
Mortgage loans | 20,473 | 18,814 | 18,796 |
Consumer loans | 5,781 | 5,335 | 4,310 |
Loans and accounts receivable | 29,240 | 28,448 | 27,053 |
Allowance for loan losses | (179) | (116) | (177) |
Net loans | 29,061 | 28,332 | 26,876 |
Guarantees | 23,918 | 22,893 | 23,868 |
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | 2,060 | ||
Guarantees | 3,364 | ||
Contingent loans | 5,424 | ||
Allowance for contingent loans | (18) | ||
Net contingent loans | 5,406 | ||
Other related parties [member] | |||
Loans and accounts receivable: | |||
Commercial loans | 685 | 233 | 7,793 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable | 685 | 233 | 7,793 |
Allowance for loan losses | (10) | (5) | (18) |
Net loans | 675 | 228 | 7,775 |
Guarantees | 288 | 7,171 | 7,164 |
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | 63 | 44 | 33 |
Guarantees | |||
Contingent loans | 63 | 44 | 33 |
Allowance for contingent loans | 1 | ||
Net contingent loans | $ 63 | $ 44 | $ 34 |
Transactions with Related Par_4
Transactions with Related Parties (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Key Personnel [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Opening balances | $ 33,871 | $ 27,051 | ||
Loans granted | 4,826 | 16,574 | $ 7,777 | $ 8,580 |
Loans payments | (9,457) | (9,754) | (7,149) | (10,832) |
Ending balances | 29,240 | 33,871 | 27,051 | |
Other related parties [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Opening balances | 7,899 | 7,826 | ||
Loans granted | 500 | 773 | 1,050 | 6,808 |
Loans payments | (7,651) | (700) | (324) | (1,674) |
Ending balances | 748 | 7,899 | 7,826 | |
Associated Companies [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Opening balances | 459 | 771 | ||
Loans granted | 167 | 39 | 318 | 203 |
Loans payments | (251) | (351) | (79) | (236) |
Ending balances | 375 | 459 | 771 | |
Companies Of The Group [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Opening balances | 572,745 | 476,906 | ||
Loans granted | 193,798 | 200,657 | 78,214 | 122,729 |
Loans payments | (50,646) | (104,818) | (147,366) | $ (193,189) |
Ending balances | $ 715,897 | $ 572,745 | $ 476,906 |
Transactions with Related Par_5
Transactions with Related Parties (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | |||
Cash and deposits in banks | $ 861,178 | $ 824,863 | $ 613,361 |
Financial derivative contracts | 8,148,608 | 3,100,635 | 2,238,647 |
Available for sale investments | 2,394,323 | 2,574,546 | |
Other assets | 1,439,146 | 991,216 | 764,410 |
Liabilities | |||
Deposits and other demand liabilities | 13,192,817 | 13,067,819 | 7,768,166 |
Obligations under repurchase agreements Loans | 380,055 | 48,545 | 268,061 |
Time deposits and other time liabilities | 23,490,249 | 21,809,236 | 11,913,945 |
Financial derivative contracts | 7,390,654 | 2,517,728 | 2,139,488 |
Issued debt instruments | 9,500,723 | 8,115,233 | 7,093,653 |
Other financial liabilities | 2,806,325 | 900,407 | 745,363 |
Other related parties [member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 55 | 9 | |
Available for sale investments | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 566 | (480) | 221 |
Obligations under repurchase agreements Loans | 80 | 68 | |
Time deposits and other time liabilities | 2,204 | (838) | 3,504 |
Financial derivative contracts | 3 | 7,190 | |
Interbank borrowing | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | |||
Key Personnel [Member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | |||
Available for sale investments | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 4,624 | 2,493 | 2,470 |
Obligations under repurchase agreements Loans | 270 | 329 | |
Time deposits and other time liabilities | 4,246 | 3,189 | 3,703 |
Financial derivative contracts | |||
Interbank borrowing | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | |||
Companies Of The Group [Member] | |||
Assets | |||
Cash and deposits in banks | 189,803 | 74,949 | |
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 218,610 | 748,632 | 545,028 |
Available for sale investments | |||
Other assets | 210,579 | 38,960 | 8,480 |
Liabilities | |||
Deposits and other demand liabilities | 93,761 | 27,515 | 24,776 |
Obligations under repurchase agreements Loans | 5,000 | 6,501 | 50,945 |
Time deposits and other time liabilities | 282,171 | 2,585,337 | 785,988 |
Financial derivative contracts | 288,013 | 770,624 | 418,647 |
Interbank borrowing | |||
Issued debt instruments | 335,443 | 482,626 | |
Other financial liabilities | 6,807 | 4,919 | |
Other liabilities | 146,164 | 60,884 | 164,303 |
Associated Companies [Member] | |||
Assets | |||
Cash and deposits in banks | 171,816 | ||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 2,058,715 | 105,358 | 86,011 |
Available for sale investments | |||
Other assets | 185,317 | 51,842 | 118,136 |
Liabilities | |||
Deposits and other demand liabilities | 25,261 | (21,577) | 25,805 |
Obligations under repurchase agreements Loans | 138,498 | ||
Time deposits and other time liabilities | 1,183,235 | 27,968 | |
Financial derivative contracts | 2,159,660 | 112,523 | 142,750 |
Interbank borrowing | |||
Issued debt instruments | 363,154 | ||
Other financial liabilities | 6,231 | ||
Other liabilities | 8,130 | 89,817 | $ 58,168 |
London Clearing House (LCH) [Member] | |||
Assets | |||
Available for sale investments | 73,109 | ||
Comder Contraparte Central S.A. [Member] | |||
Assets | |||
Available for sale investments | $ 65,140 | $ 42,910 |
Transactions with Related Par_6
Transactions with Related Parties (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Income (expense) recorded | ||||
Fee and commission income and expenses | $ 287,086 | $ 290,885 | $ 279,063 | |
Other operating income and expenses | 13,001 | 23,129 | 62,016 | |
Key Personnel [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 1,151 | 1,252 | 1,051 | |
Fee and commission income and expenses | 232 | 305 | 224 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | 27 | (3) | |
Other operating income and expenses | ||||
Key personnel compensation and expenses | (37,377) | (11,761) | (43,037) | |
Administrative and other expenses | ||||
Total | (35,994) | (10,177) | (41,765) | |
Other related parties [member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 26 | 508 | ||
Fee and commission income and expenses | 28 | 22 | 1 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | (12) | 19 | |
Other operating income and expenses | ||||
Key personnel compensation and expenses | ||||
Administrative and other expenses | ||||
Total | 54 | 518 | 20 | |
Associated Companies [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | (5,235) | (156) | ||
Fee and commission income and expenses | 14,499 | 7,826 | 15,404 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | (84,236) | 65,727 | (48,453) |
Other operating income and expenses | (2,026) | 1,388 | (1,454) | |
Key personnel compensation and expenses | ||||
Administrative and other expenses | (47,757) | (50,764) | (47,220) | |
Total | (124,755) | 24,021 | (81,723) | |
Companies Of The Group [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | (41,181) | (53,256) | (43,892) | |
Fee and commission income and expenses | 28,274 | 91,178 | 72,273 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | (586,318) | (566,677) | 363,108 |
Other operating income and expenses | 406 | 42 | 21,670 | |
Key personnel compensation and expenses | ||||
Administrative and other expenses | (11,877) | (43,035) | (48,246) | |
Total | $ (610,696) | $ (571,748) | $ 364,913 | |
[1] | Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries. |
Transactions with Related Par_7
Transactions with Related Parties (Details 4) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Transactions with Related Parties [Abstract] | |||||
Personnel compensation | $ 16,863 | $ 12,878 | $ 16,863 | ||
Board members' salaries and expenses | 1,199 | 913 | 1,199 | ||
Bonuses or gratifications | 16,057 | 11,920 | 16,057 | ||
Compensation in stock | 1,923 | 146 | 1,923 | ||
Training expenses | 3,842 | 163 | 68 | ||
Seniority compensation | 2,039 | 1,133 | 3,842 | ||
Health funds | 68 | 215 | 273 | ||
Other personnel expenses | 273 | 681 | 773 | ||
Pension plans | 773 | 872 | [1] | 2,039 | [1] |
Total | $ 43,037 | $ 28,921 | $ 43,037 | ||
[1] | Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions. |
Transactions with Related Par_8
Transactions with Related Parties (Details 5) - Executives | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of transactions between related parties [line items] | |||
No. of executives | 128 | 131 | 133 |
Director [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 10 | 11 | 11 |
Manager [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 12 | 108 | 109 |
Division Manager [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 106 | 12 | 13 |
Pension Plans (Details)
Pension Plans (Details) - Other post-employment benefit plans [Member] | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | ||
Mortality chart | RV-2014 | RV-2014 |
Termination of contract rates | 5.00% | 5.00% |
Impairment chart | PDT 1985 | PDT 1985 |
Pension Plans (Details 1)
Pension Plans (Details 1) - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of defined benefit plans [line items] | ||||
Plan assets | $ 7,195 | $ 6,804 | $ 7,919 | $ 6,612 |
Commitments for defined-benefit plans | ||||
For active personnel | (6,525) | (5,958) | ||
Incurred by inactive personnel | ||||
Minus: | ||||
Unrealized actuarial (gain) losses | ||||
Balances at year end | $ 670 | $ 846 | $ 921 |
Pension Plans (Details 2)
Pension Plans (Details 2) - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
a) Fair value of plan assets | |||
Opening balance | $ 6,804 | $ 7,919 | $ 6,612 |
Expected yield of insurance contracts | 333 | 353 | 307 |
Employer contributions | 859 | 836 | 1,931 |
Actuarial (gain) losses | |||
Premiums paid | |||
Benefits paid | (801) | (2,304) | (931) |
Fair value of plan assets at year end | 7,195 | 6,804 | 7,919 |
b) Present value of obligations | |||
Present value of obligations opening balance | (5,958) | (6,998) | (4,975) |
Net incorporation of Group companies | |||
Service cost | (567) | (1,069) | (2,039) |
Interest cost | |||
Curtailment/settlement effect | |||
Benefits paid | |||
Past service cost | |||
Actuarial (gain) losses | |||
Other | 2,109 | 16 | |
Present value of obligations at year end | (6,525) | (5,958) | (6,998) |
Net balance at year end | $ 670 | $ 846 | $ 921 |
Pension Plans (Details 3)
Pension Plans (Details 3) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plans [Abstract] | |||
Type of expected yield from the plan's assets | UF + 2,50% annual | UF + 2.50% annual | UF + 2.50% annual |
Type of yield expected from the reimbursement rights | UF + 2,50% annual | UF + 2.50% annual | UF + 2.50% annual |
Pension Plans (Details 4)
Pension Plans (Details 4) - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Line Items [Line Items] | |||
Current period service expenses | $ (567) | $ (1,069) | $ (2,039) |
Interest cost | |||
Expected yield from plan's assets | 333 | 353 | 307 |
Expected yield of insurance contracts linked to the Plan: | |||
Extraordinary allocations | |||
Actuarial (gain)/ losses recorded in the period | |||
Past service cost | |||
Other | |||
Total | $ 233 | $ 716 | $ 1,732 |
Pension Plans (Details Textual)
Pension Plans (Details Textual) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Other post-employment benefit plans [Member] | ||||
Statement Line Items [Line Items] | ||||
Plan assets | $ 7,195 | $ 6,804 | $ 7,919 | $ 6,612 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities | $ 26,010,067 | $ 23,597,863 |
Financial Liabilities, Fair value | 26,200,921 | 23,770,106 |
Financial derivative contracts [Member] | ||
Liabilities | ||
Financial Liabilities | 7,390,654 | 2,517,728 |
Financial Liabilities, Fair value | 7,390,654 | 2,517,728 |
Financial Liabilities Issued Debt Instruments And Other Financial Liabilities Category [Member] | ||
Liabilities | ||
Financial Liabilities | 9,727,081 | 8,330,633 |
Financial Liabilities, Fair value | 10,718,997 | 8,605,135 |
Guarantees received (margin accounts) [Member] | ||
Liabilities | ||
Financial Liabilities | 994,714 | 371,512 |
Financial Liabilities, Fair value | 994,714 | 371,512 |
Financial derivative contracts [Member] | ||
Assets | ||
Financial Assets | 8,148,608 | 3,100,635 |
Financial Assets, Fair value | 8,148,608 | 3,100,635 |
Financial Assets Held For Trading [Member] | ||
Assets | ||
Financial Assets | 270,204 | 77,041 |
Financial Assets, Fair value | 270,204 | 77,041 |
Loans And Accounts Receivable At Amortised Cost [Member] | ||
Assets | ||
Financial Assets | 31,775,420 | 29,331,001 |
Financial Assets, Fair value | 34,602,793 | 30,505,023 |
Loans And Accounts Receivable At FVOCI Net [Member] | ||
Assets | ||
Financial Assets | 66,065 | 68,588 |
Financial Assets, Fair value | 66,065 | 68,588 |
Debt Instrument At FVOCI [Member] | ||
Assets | ||
Financial Assets | 4,010,272 | 2,394,323 |
Financial Assets, Fair value | 4,010,272 | 2,394,323 |
Guarantee Deposits (Margin Accounts) [Member] | ||
Assets | ||
Financial Assets | 314,616 | 170,232 |
Financial Assets, Fair value | $ 314,616 | $ 170,232 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial assets [line items] | |||
Assets | $ 50,574,714 | $ 39,132,512 | |
Liabilities | 47,096,211 | 35,887,052 | |
Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 4,262,625 | ||
Liabilities | |||
Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 8,465,462 | ||
Liabilities | 8,382,418 | 2,888,445 | |
Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 81,678 | 80,781 | $ 22,987 |
Liabilities | 2,950 | 795 | $ 7 |
Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 8,148,608 | 3,100,635 | |
Guarantee Deposits (Margin Accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 170,232 | 170,232 | |
Recurrent Basis [Member] | Financial Assets Held For Trading [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 270,204 | 77,041 | |
Recurrent Basis [Member] | Financial Assets Held For Trading [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 270,204 | ||
Recurrent Basis [Member] | Financial Assets Held For Trading [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 5,883 | ||
Recurrent Basis [Member] | Financial Assets Held For Trading [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Loans and accounts receivable at FVOCI, net [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 66,065 | 68,588 | |
Recurrent Basis [Member] | Loans and accounts receivable at FVOCI, net [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Loans and accounts receivable at FVOCI, net [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Loans and accounts receivable at FVOCI, net [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 68,588 | ||
Recurrent Basis [Member] | Debt Instrument At FVOCI [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 4,010,272 | 2,394,323 | |
Recurrent Basis [Member] | Debt Instrument At FVOCI [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 3,992,421 | 2,368,768 | |
Recurrent Basis [Member] | Debt Instrument At FVOCI [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 17,146 | 24,920 | |
Recurrent Basis [Member] | Debt Instrument At FVOCI [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 705 | 635 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 8,148,608 | 3,100,635 | |
Liabilities | 2,517,728 | ||
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Liabilities | |||
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 8,133,700 | 3,089,077 | |
Liabilities | 7,387,704 | 2,516,933 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 14,908 | 11,558 | |
Liabilities | 2,950 | 795 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 314,616 | 170,232 | |
Liabilities | 994,714 | 371,512 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Liabilities | |||
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 314,616 | 170,232 | |
Liabilities | 994,714 | 371,512 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Liabilities |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Total | $ 34,602,793 | $ 30,505,023 |
Liabilities | ||
Total | 36,919,918 | 32,375,241 |
Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 10,718,997 | 8,605,135 |
Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 26,200,921 | 23,770,106 |
Total | 26,200,921 | 23,770,106 |
Level 1 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Total | ||
Level 1 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Total | ||
Level 2 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 10,718,997 | 8,605,135 |
Total | 10,718,997 | 8,605,135 |
Level 2 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 15,903,489 | 15,028,689 |
Total | 26,622,486 | 23,633,824 |
Level 3 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Total | ||
Level 3 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 10,297,432 | 8,741,417 |
Total | 10,297,432 | 8,741,417 |
Loans and accounts receivable at amortised cost, net [Member] | ||
Assets | ||
Financial Assets, Fair value | 34,602,793 | 30,505,023 |
Loans and accounts receivable at amortised cost, net [Member] | Level 1 [Member] | ||
Assets | ||
Financial Assets, Fair value | ||
Total | ||
Loans and accounts receivable at amortised cost, net [Member] | Level 2 [Member] | ||
Assets | ||
Financial Assets, Fair value | ||
Total | ||
Loans and accounts receivable at amortised cost, net [Member] | Level 3 [Member] | ||
Assets | ||
Financial Assets, Fair value | 34,602,793 | 30,505,023 |
Total | $ 34,602,793 | $ 30,505,023 |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities (Details 3) - Level 3 [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Debt Instrument At FVOCI [Member] | Internal Rate Of Return Method [Member] | |||
Disclosure of financial assets [line items] | |||
Main unobservabe inputs | [1] | BR UF | BR UF |
Derivatives [Member] | Present Value Method [Member] | |||
Disclosure of financial assets [line items] | |||
Main unobservabe inputs | [2] | Curves on TAB | Curves on TAB |
Impact Sens. -1bp Unfavourable scenario | $ (13) | $ (23) | |
Impact Sens. +1bp Favourable scenario | $ 13 | $ 23 | |
[1] | BR: "Bonos de Reconocimiento" (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. | ||
[2] | TAB: "Tasa Activa Bancaria" (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities (Details 4) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of Changes in Fair Value Measurement, Assets | ||
As of January | $ 39,132,512 | |
Total realized and unrealized profits (losses) | ||
As of December | 50,574,714 | $ 39,132,512 |
Reconciliation of Changes in Fair Value Measurement, Liabilities | ||
As of January | 35,887,052 | |
Total realized and unrealized profits (losses) | ||
As of December | 47,096,211 | 35,887,052 |
Level 3 [Member] | ||
Reconciliation of Changes in Fair Value Measurement, Assets | ||
As of January | 80,781 | 22,987 |
Total realized and unrealized profits (losses) | ||
Included in statements of income | 827 | 57,769 |
Included in other comprehensive income | 70 | 25 |
Purchases, issuances, and loans (net) | ||
As of December | 81,678 | 80,781 |
Total profits or losses included in comprehensive income for 2019 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2018 | 897 | 57,794 |
Reconciliation of Changes in Fair Value Measurement, Liabilities | ||
As of January | 795 | 7 |
Total realized and unrealized profits (losses) | ||
Included in statements of income | 2,155 | (802) |
Included in other comprehensive income | ||
Purchases, issuances, and loans (net) | ||
As of December | 2,950 | 795 |
Total profits or losses included in comprehensive income for 2019 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2018 | $ 2,155 | $ (802) |
Fair Value of Financial Asset_8
Fair Value of Financial Assets and Liabilities (Details 6) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Gross amounts | $ 8,214,216 | $ 2,016,314 |
Compensated in balance | ||
Net amount presented in balance | 8,148,151 | 1,947,726 |
Remains of unrelated and / or unencumbered financial instruments | 31,841,942 | 30,552,498 |
Amount in Statements of Financial Position | 39,990,093 | 32,500,224 |
Liabilities | ||
Gross amounts | 7,768,200 | 1,784,100 |
Compensated in balance | ||
Net amount presented in balance | 7,768,200 | 1,784,100 |
Remains of unrelated and / or unencumbered financial instruments | 26,012,576 | 24,380,035 |
Amount in Statements of Financial Position | 33,780,776 | 26,164,135 |
Financial derivative contracts [Member] | ||
Liabilities | ||
Gross amounts | 7,388,145 | 1,735,555 |
Compensated in balance | ||
Net amount presented in balance | 7,388,145 | 1,735,555 |
Remains of unrelated and / or unencumbered financial instruments | 2,509 | 782,173 |
Amount in Statements of Financial Position | 7,390,654 | 2,517,728 |
Investments under resale agreements [Member] | ||
Liabilities | ||
Gross amounts | 380,055 | 48,545 |
Compensated in balance | ||
Net amount presented in balance | 380,055 | 48,545 |
Remains of unrelated and / or unencumbered financial instruments | ||
Amount in Statements of Financial Position | 380,055 | 48,545 |
Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | 26,010,067 | 23,597,862 |
Amount in Statements of Financial Position | 26,010,067 | 23,597,862 |
Financial derivative contracts [Member] | ||
Assets | ||
Gross amounts | 8,148,151 | 1,947,726 |
Compensated in balance | ||
Net amount presented in balance | 8,148,151 | 1,947,726 |
Remains of unrelated and / or unencumbered financial instruments | 457 | 1,152,909 |
Amount in Statements of Financial Position | 8,148,608 | 3,100,635 |
Obligations under repurchase agreements [Member] | ||
Assets | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | ||
Amount in Statements of Financial Position | ||
Loans And Accounts Receivable At Amortised Cost [Member] | ||
Assets | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | 31,775,420 | 29,331,001 |
Amount in Statements of Financial Position | 31,775,420 | 29,331,001 |
Loans and accounts receivable at FVOCI, net [Member] | ||
Assets | ||
Gross amounts | 66,065 | 68,588 |
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | 66,065 | 68,588 |
Amount in Statements of Financial Position | $ 66,065 | $ 68,588 |
Fair Value of Financial Asset_9
Fair Value of Financial Assets and Liabilities (Details 7) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial assets [line items] | |||
Assets | $ 8,148,608 | $ 3,100,635 | $ 2,238,647 |
Liability | 7,390,654 | 2,517,728 | $ 2,139,488 |
Financial Liabilities Derivative Contracts With Collateral Agreement Threshold Equal To Zero [Member] | |||
Disclosure of financial assets [line items] | |||
Liability | 6,748,219 | 2,133,149 | |
Financial Liabilities Derivative Contracts With Non-Zero Threshold Collateral Agreement [Member] | |||
Disclosure of financial assets [line items] | |||
Liability | 517,814 | 262,683 | |
Financial Liabilities Derivative Contracts Without Collateral Agreement [Member] | |||
Disclosure of financial assets [line items] | |||
Liability | 124,621 | 121,896 | |
Financial Assets Derivative Contracts With Collateral Agreement Threshold Equal To Zero [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 7,478,837 | 2,639,835 | |
Financial Assets Derivative Contracts With Non-Zero Threshold Collateral Agreement [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 532,298 | 344,520 | |
Financial Assets Derivative Contracts Without Collateral Agreement [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | $ 137,472 | $ 116,280 |
Risk Management (Details)
Risk Management (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Total ECL Allowance | $ 2,042 | $ 723 |
Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total ECL Allowance | 896,196 | 882,520 |
Collective [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 32,671,515 | $ 30,213,415 |
Total Individual, Percentage | 100.00% | 100.00% |
Total ECL Allowance | $ 896,095 | $ 882,414 |
Total ECL Allowance, Percentage | 100.00% | 100.00% |
Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 29,014,636 | $ 26,913,508 |
Total ECL Allowance | 133,269 | 153,640 |
Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 1,995,733 | 1,796,790 |
Total ECL Allowance | 121,261 | 124,114 |
Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 1,634,146 | 1,503,116 |
Total ECL Allowance | 641,565 | 603,660 |
Commerical Loans [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 11,369,454 | $ 10,950,550 |
Total Individual, Percentage | 34.80% | 36.24% |
Total ECL Allowance | $ 248,095 | $ 259,370 |
Total ECL Allowance, Percentage | 27.69% | 29.39% |
Commerical Loans [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 9,963,480 | $ 9,695,837 |
Total ECL Allowance | 21,540 | 30,189 |
Commerical Loans [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 1,004,967 | 867,783 |
Total ECL Allowance | 30,389 | 31,066 |
Commerical Loans [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 401,007 | 386,930 |
Total ECL Allowance | 196,166 | 198,115 |
Commerical Loans [Member] | Collective [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 4,492,871 | $ 4,235,595 |
Total Individual, Percentage | 13.75% | 14.02% |
Total ECL Allowance | $ 258,474 | $ 247,432 |
Total ECL Allowance, Percentage | 28.84% | 28.04% |
Commerical Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 3,839,143 | $ 3,616,969 |
Total ECL Allowance | 35,887 | 43,541 |
Commerical Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 240,100 | 232,472 |
Total ECL Allowance | 25,555 | 24,574 |
Commerical Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 413,628 | 386,154 |
Total ECL Allowance | 197,032 | 179,317 |
Commerical Loans [Member] | A1 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 99,042 | $ 29,998 |
Total Individual, Percentage | 0.30% | 0.10% |
Total ECL Allowance | $ 2 | $ 2 |
Total ECL Allowance, Percentage | 0.00% | 0.00% |
Commerical Loans [Member] | A1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 99,042 | $ 29,998 |
Total ECL Allowance | 2 | 2 |
Commerical Loans [Member] | A1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A2 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 907,696 | $ 1,074,789 |
Total Individual, Percentage | 2.78% | 3.56% |
Total ECL Allowance | $ 443 | $ 525 |
Total ECL Allowance, Percentage | 0.05% | 0.06% |
Commerical Loans [Member] | A2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 907,659 | $ 1,074,789 |
Total ECL Allowance | 443 | 525 |
Commerical Loans [Member] | A2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 37 | |
Total ECL Allowance | ||
Commerical Loans [Member] | A2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A3 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 2,419,051 | $ 2,699,993 |
Total Individual, Percentage | 7.41% | 8.94% |
Total ECL Allowance | $ 2,617 | $ 2,526 |
Total ECL Allowance, Percentage | 0.29% | 0.29% |
Commerical Loans [Member] | A3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 2,418,990 | $ 2,699,684 |
Total ECL Allowance | 2,617 | 2,526 |
Commerical Loans [Member] | A3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 61 | 309 |
Total ECL Allowance | ||
Commerical Loans [Member] | A3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A4 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 3,269,855 | $ 3,217,154 |
Total Individual, Percentage | 10.01% | 10.65% |
Total ECL Allowance | $ 4,421 | $ 9,188 |
Total ECL Allowance, Percentage | 0.49% | 1.04% |
Commerical Loans [Member] | A4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 3,262,671 | $ 3,200,608 |
Total ECL Allowance | 4,399 | 8,865 |
Commerical Loans [Member] | A4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 7,184 | 16,546 |
Total ECL Allowance | 22 | 323 |
Commerical Loans [Member] | A4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A5 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 2,210,880 | $ 1,781,400 |
Total Individual, Percentage | 6.77% | 5.90% |
Total ECL Allowance | $ 8,133 | $ 11,749 |
Total ECL Allowance, Percentage | 0.91% | 1.33% |
Commerical Loans [Member] | A5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 2,188,717 | $ 1,755,259 |
Total ECL Allowance | 7,618 | 11,296 |
Commerical Loans [Member] | A5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 22,163 | 26,141 |
Total ECL Allowance | 515 | 453 |
Commerical Loans [Member] | A5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | A6 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 1,134,045 | $ 981,170 |
Total Individual, Percentage | 3.47% | 3.25% |
Total ECL Allowance | $ 8,079 | $ 9,188 |
Total ECL Allowance, Percentage | 0.90% | 1.04% |
Commerical Loans [Member] | A6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 1,086,401 | $ 935,499 |
Total ECL Allowance | 6,461 | 6,975 |
Commerical Loans [Member] | A6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 47,157 | 45,671 |
Total ECL Allowance | 1,410 | 2,213 |
Commerical Loans [Member] | A6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 487 | |
Total ECL Allowance | 208 | |
Commerical Loans [Member] | B1 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 603,201 | $ 495,102 |
Total Individual, Percentage | 1.85% | 1.64% |
Total ECL Allowance | $ 12,641 | $ 14,186 |
Total ECL Allowance, Percentage | 1.41% | 1.61% |
Commerical Loans [Member] | B1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | B1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 603,201 | 494,915 |
Total ECL Allowance | 12,641 | 14,107 |
Commerical Loans [Member] | B1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 187 | |
Total ECL Allowance | 79 | |
Commerical Loans [Member] | B2 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 83,341 | $ 82,111 |
Total Individual, Percentage | 0.26% | 0.27% |
Total ECL Allowance | $ 3,978 | $ 2,852 |
Total ECL Allowance, Percentage | 0.44% | 0.32% |
Commerical Loans [Member] | B2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | B2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 82,781 | 81,955 |
Total ECL Allowance | 3,773 | 2,786 |
Commerical Loans [Member] | B2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 560 | 156 |
Total ECL Allowance | 205 | 66 |
Commerical Loans [Member] | B3 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 85,851 | $ 67,703 |
Total Individual, Percentage | 0.26% | 0.22% |
Total ECL Allowance | $ 3,628 | $ 4,074 |
Total ECL Allowance, Percentage | 0.40% | 0.46% |
Commerical Loans [Member] | B3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | B3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 85,034 | 67,089 |
Total ECL Allowance | 3,367 | 3,841 |
Commerical Loans [Member] | B3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 817 | 614 |
Total ECL Allowance | 261 | 233 |
Commerical Loans [Member] | B4 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 133,701 | $ 93,133 |
Total Individual, Percentage | 0.41% | 0.31% |
Total ECL Allowance | $ 25,995 | $ 22,176 |
Total ECL Allowance, Percentage | 2.90% | 2.51% |
Commerical Loans [Member] | B4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | B4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 83,039 | 47,653 |
Total ECL Allowance | 4,085 | 2,488 |
Commerical Loans [Member] | B4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 50,662 | 45,480 |
Total ECL Allowance | 21,910 | 19,688 |
Commerical Loans [Member] | C1 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 158,437 | $ 154,708 |
Total Individual, Percentage | 0.48% | 0.51% |
Total ECL Allowance | $ 53,956 | $ 50,695 |
Total ECL Allowance, Percentage | 6.02% | 5.75% |
Commerical Loans [Member] | C1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 45,433 | 46,383 |
Total ECL Allowance | 3,516 | 2,548 |
Commerical Loans [Member] | C1 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 113,004 | 108,325 |
Total ECL Allowance | 50,440 | 48,147 |
Commerical Loans [Member] | C2 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 75,830 | $ 54,924 |
Total Individual, Percentage | 0.23% | 0.18% |
Total ECL Allowance | $ 75,830 | $ 19,432 |
Total ECL Allowance, Percentage | 3.25% | 2.20% |
Commerical Loans [Member] | C2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 8,865 | 15,678 |
Total ECL Allowance | 8,865 | 1,261 |
Commerical Loans [Member] | C2 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 66,965 | 39,246 |
Total ECL Allowance | 66,965 | 18,171 |
Commerical Loans [Member] | C3 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 48,601 | $ 45,859 |
Total Individual, Percentage | 0.15% | 0.15% |
Total ECL Allowance | $ 11,502 | $ 11,536 |
Total ECL Allowance, Percentage | 1.28% | 1.31% |
Commerical Loans [Member] | C3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 15,762 | 19,655 |
Total ECL Allowance | 221 | 733 |
Commerical Loans [Member] | C3 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 32,839 | 26,204 |
Total ECL Allowance | 11,281 | 10,803 |
Commerical Loans [Member] | C4 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 41,372 | $ 36,005 |
Total Individual, Percentage | 0.13% | 0.12% |
Total ECL Allowance | $ 20,209 | $ 17,323 |
Total ECL Allowance, Percentage | 2.26% | 1.96% |
Commerical Loans [Member] | C4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 2,405 | 3,560 |
Total ECL Allowance | 170 | 246 |
Commerical Loans [Member] | C4 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 38,967 | 32,445 |
Total ECL Allowance | 20,039 | 17,077 |
Commerical Loans [Member] | C5 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 44,904 | $ 65,465 |
Total Individual, Percentage | 0.14% | 0.22% |
Total ECL Allowance | $ 27,629 | $ 40,573 |
Total ECL Allowance, Percentage | 3.08% | 4.60% |
Commerical Loans [Member] | C5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 847 | 703 |
Total ECL Allowance | 43 | 32 |
Commerical Loans [Member] | C5 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 44,057 | 64,762 |
Total ECL Allowance | 27,586 | 40,541 |
Commerical Loans [Member] | C6 [Member] | Individual [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 53,647 | $ 71,036 |
Total Individual, Percentage | 0.16% | 0.22% |
Total ECL Allowance | $ 35,744 | $ 43,345 |
Total ECL Allowance, Percentage | 3.99% | 4.91% |
Commerical Loans [Member] | C6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | ||
Total ECL Allowance | ||
Commerical Loans [Member] | C6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 998 | 1,525 |
Total ECL Allowance | 12 | 35 |
Commerical Loans [Member] | C6 [Member] | Individual [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 52,649 | 69,511 |
Total ECL Allowance | 35,732 | 43,310 |
Residential Mortgage Loans [Member] | Collective [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 11,262,995 | $ 4,876,289 |
Total Individual, Percentage | 34.47% | 16.14% |
Total ECL Allowance | $ 101,059 | $ 284,342 |
Total ECL Allowance, Percentage | 11.28% | 32.23% |
Residential Mortgage Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 10,275,966 | $ 4,341,740 |
Total ECL Allowance | 8,446 | 70,904 |
Residential Mortgage Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 457,948 | 249,039 |
Total ECL Allowance | 14,509 | 54,372 |
Residential Mortgage Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 529,081 | 285,510 |
Total ECL Allowance | 78,104 | 159,066 |
Consumer Loans [Member] | Collective [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 5,546,195 | $ 10,150,981 |
Total Individual, Percentage | 16.98% | 33.60% |
Total ECL Allowance | $ 288,467 | $ 91,270 |
Total ECL Allowance, Percentage | 32.19% | 10.34% |
Consumer Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 4,963,047 | $ 9,258,962 |
Total ECL Allowance | 67,396 | 9,006 |
Consumer Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 292,718 | 447,496 |
Total ECL Allowance | 50,808 | 15,102 |
Consumer Loans [Member] | Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 290,430 | 444,523 |
Total ECL Allowance | 170,263 | 67,162 |
Subtotal [Member] | Collective [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 21,302,061 | $ 19,262,865 |
Total Individual, Percentage | 65.20% | 63.76% |
Total ECL Allowance | $ 648,000 | $ 623,044 |
Total ECL Allowance, Percentage | 72.31% | 70.61% |
Subtotal [Member] | Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | $ 19,078,156 | $ 17,217,671 |
Total ECL Allowance | 111,729 | 123,451 |
Subtotal [Member] | Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 990,766 | 929,007 |
Total ECL Allowance | 90,872 | 94,048 |
Subtotal [Member] | Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total Individual | 1,233,139 | 1,116,187 |
Total ECL Allowance | $ 445,399 | $ 405,545 |
Risk Management (Details 1)
Risk Management (Details 1) - Stage 2 [Member] | 12 Months Ended |
Dec. 31, 2019 | |
Mortgages [Member] | Collective [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 39.57% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Other Loans [Member] | Collective [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 39.11% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Revolving Credit Cards [Member] | Collective [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 15.73% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Collectively Assessed SME [Member] | Collective [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 39.11% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Individually Assessed SME [Member] | Individual [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 22.69% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Description of quantitative criteria for significant increase in credit risk of client | Clients that are considered to be substandard or in incompliance (pre-legal action) |
Middle Market [Member] | Individual [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Percentage of quantitative criteria for significant increase in credit risk | 4.50% |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Description of quantitative criteria for significant increase in credit risk of client | Clients that are considered to be substandard or in incompliance (pre-legal action) |
Corporate And Investment Banking [Member] | Individual [Member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Description of quantitative criteria for significant increase in credit risk | Santander Group criteria |
Description of quantitative criteria for significant increase in credit risk of portfolio | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Description of quantitative criteria for significant increase in credit risk of client | Clients that are considered to be substandard or in incompliance (pre-legal action) |
Risk Management (Details 2)
Risk Management (Details 2) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Total ECL Allowance | $ 2,042 | $ 723 |
Credit Risk [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Total ECL Allowance | 896,196 | 882,520 |
Collective [Member] | Credit Risk [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Financial assets | 32,671,515 | 30,213,415 |
Modified loans | $ 1,123,845 | $ 1,397,607 |
Percentage | 3.44% | 4.63% |
Total ECL Allowance | $ 896,095 | $ 882,414 |
Modified loans | $ 276,978 | $ 367,901 |
Percentage | 31.13% | 41.69% |
Collective [Member] | Credit Risk [Member] | Stage 1 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Financial assets | $ 29,014,636 | $ 26,913,508 |
Modified loans | ||
Percentage | ||
Total ECL Allowance | $ 133,269 | $ 153,640 |
Modified loans | ||
Percentage | ||
Collective [Member] | Credit Risk [Member] | Stage 2 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Financial assets | $ 1,995,733 | $ 1,796,790 |
Modified loans | $ 512,529 | $ 582,513 |
Percentage | 25.68% | 32.42% |
Total ECL Allowance | $ 121,261 | $ 124,114 |
Modified loans | $ 36,329 | $ 44,099 |
Percentage | 29.96% | 35.25% |
Collective [Member] | Credit Risk [Member] | Stage 3 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Financial assets | $ 1,634,146 | $ 1,503,116 |
Modified loans | $ 611,316 | $ 815,094 |
Percentage | 37.41% | 54.23% |
Total ECL Allowance | $ 641,565 | $ 603,660 |
Modified loans | $ 242,649 | $ 323,802 |
Percentage | 37.82% | 53.64% |
Risk Management (Details 3)
Risk Management (Details 3) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | $ 32,671,515 | $ 30,213,414 | |||
Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,634,146 | 1,503,116 | |||
Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 29,041,636 | 26,913,508 | |||
Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,995,733 | 1,796,790 | |||
Commercial Loans [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 15,862,325 | 15,186,144 | $ 13,963,093 | ||
Commercial Loans [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 814,635 | 773,083 | |||
Commercial Loans [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 13,802,623 | 13,312,806 | |||
Commercial Loans [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,245,067 | 1,100,255 | |||
Mortgages [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 11,262,995 | 10,150,981 | 9,096,895 | ||
Mortgages [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 529,081 | 444,523 | |||
Mortgages [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 10,275,966 | 9,258,962 | |||
Mortgages [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 457,948 | 447,496 | |||
Consumer Loans [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 5,546,195 | 4,876,289 | $ 4,557,692 | ||
Consumer Loans [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 290,430 | 285,510 | |||
Consumer Loans [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 4,963,047 | 4,341,740 | |||
Consumer Loans [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 292,718 | 249,039 | |||
Market Risk [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 30,213,414 | ||||
Market Risk [Member] | Commercial Loans [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 15,186,144 | ||||
Market Risk [Member] | Commercial Loans [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 773,083 | ||||
Market Risk [Member] | Commercial Loans [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 13,312,806 | ||||
Market Risk [Member] | Commercial Loans [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,100,255 | ||||
Market Risk [Member] | Commercial Loans [Member] | Fishing [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 256,554 | 253,021 | |||
Market Risk [Member] | Commercial Loans [Member] | Fishing [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 7,695 | 3,569 | |||
Market Risk [Member] | Commercial Loans [Member] | Fishing [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 223,980 | 238,348 | |||
Market Risk [Member] | Commercial Loans [Member] | Fishing [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 24,879 | 11,104 | |||
Market Risk [Member] | Commercial Loans [Member] | Manufacturing [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,285,814 | 1,139,765 | |||
Market Risk [Member] | Commercial Loans [Member] | Manufacturing [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 54,048 | 54,048 | |||
Market Risk [Member] | Commercial Loans [Member] | Manufacturing [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,110,484 | 992,786 | |||
Market Risk [Member] | Commercial Loans [Member] | Manufacturing [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 92,931 | 92,931 | |||
Market Risk [Member] | Commercial Loans [Member] | Mining [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 407,041 | 208,748 | |||
Market Risk [Member] | Commercial Loans [Member] | Mining [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 3,739 | 4,585 | |||
Market Risk [Member] | Commercial Loans [Member] | Mining [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 280,297 | 182,342 | |||
Market Risk [Member] | Commercial Loans [Member] | Mining [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 123,005 | 21,821 | |||
Market Risk [Member] | Commercial Loans [Member] | Electricity, Gas and Water [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 341,044 | 408,932 | |||
Market Risk [Member] | Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 8,196 | 2,279 | |||
Market Risk [Member] | Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 309,941 | 384,288 | |||
Market Risk [Member] | Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 22,907 | 22,365 | |||
Market Risk [Member] | Commercial Loans [Member] | Agriculture and Livestock [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,287,281 | 1,201,251 | |||
Market Risk [Member] | Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 93,440 | 100,781 | |||
Market Risk [Member] | Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 1,020,857 | 934,199 | |||
Market Risk [Member] | Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 172,984 | 166,271 | |||
Market Risk [Member] | Commercial Loans [Member] | Forest [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 165,207 | 143,888 | |||
Market Risk [Member] | Commercial Loans [Member] | Forest [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 15,689 | 14,115 | |||
Market Risk [Member] | Commercial Loans [Member] | Forest [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 132,483 | 120,371 | |||
Market Risk [Member] | Commercial Loans [Member] | Forest [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 17,035 | 9,402 | |||
Market Risk [Member] | Commercial Loans [Member] | Transportation [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 763,877 | 809,306 | |||
Market Risk [Member] | Commercial Loans [Member] | Transportation [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 34,192 | 37,802 | |||
Market Risk [Member] | Commercial Loans [Member] | Transportation [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 665,570 | 716,493 | |||
Market Risk [Member] | Commercial Loans [Member] | Transportation [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 64,115 | 55,011 | |||
Market Risk [Member] | Commercial Loans [Member] | Communications [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 240,950 | 215,844 | |||
Market Risk [Member] | Commercial Loans [Member] | Communications [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 6,168 | 7,222 | |||
Market Risk [Member] | Commercial Loans [Member] | Communications [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 206,660 | 178,215 | |||
Market Risk [Member] | Commercial Loans [Member] | Communications [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 28,122 | 30,407 | |||
Market Risk [Member] | Commercial Loans [Member] | Construction [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 974,268 | [1] | 906,038 | ||
Market Risk [Member] | Commercial Loans [Member] | Construction [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | [1] | 106,568 | 93,747 | ||
Market Risk [Member] | Commercial Loans [Member] | Construction [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | [1] | 782,265 | 723,600 | ||
Market Risk [Member] | Commercial Loans [Member] | Construction [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | [1] | 85,435 | 88,691 | ||
Market Risk [Member] | Commercial Loans [Member] | Commerce [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 2,796,415 | 3,340,064 | |||
Market Risk [Member] | Commercial Loans [Member] | Commerce [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 30,107 | 199,924 | |||
Market Risk [Member] | Commercial Loans [Member] | Commerce [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 2,655,982 | 2,950,517 | |||
Market Risk [Member] | Commercial Loans [Member] | Commerce [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 110,326 | 189,623 | |||
Market Risk [Member] | Commercial Loans [Member] | Services [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 3,366,132 | 1,865,669 | |||
Market Risk [Member] | Commercial Loans [Member] | Services [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 204,472 | 12,915 | |||
Market Risk [Member] | Commercial Loans [Member] | Services [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 2,971,563 | 1,771,595 | |||
Market Risk [Member] | Commercial Loans [Member] | Services [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 190,097 | 81,159 | |||
Market Risk [Member] | Commercial Loans [Member] | Other [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 3,977,742 | 4,693,618 | |||
Market Risk [Member] | Commercial Loans [Member] | Other [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 236,395 | 242,096 | |||
Market Risk [Member] | Commercial Loans [Member] | Other [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 3,442,541 | 4,120,052 | |||
Market Risk [Member] | Commercial Loans [Member] | Other [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | $ 298,806 | 331,470 | |||
Market Risk [Member] | Mortgages [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 10,150,981 | ||||
Market Risk [Member] | Mortgages [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 444,523 | ||||
Market Risk [Member] | Mortgages [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 9,258,962 | ||||
Market Risk [Member] | Mortgages [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 447,496 | ||||
Market Risk [Member] | Consumer Loans [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 4,876,289 | ||||
Market Risk [Member] | Consumer Loans [Member] | Stage 3 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 285,510 | ||||
Market Risk [Member] | Consumer Loans [Member] | Stage 1 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | 4,341,740 | ||||
Market Risk [Member] | Consumer Loans [Member] | Stage 2 [Member] | |||||
Disclosure of risk management strategy related to hedge accounting [line items] | |||||
Assets before allowances | $ 249,039 | ||||
[1] | In 2019 we improved the classification of our construction loans, reassigning loans for real state rental investment companies to services. |
Risk Management (Details 4)
Risk Management (Details 4) - Macro Economic [Member] - Average estimates 2020 - 2021 [Member] | Dec. 31, 2019 |
Official Interest Rate [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 0.25% |
Official Interest Rate [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 0.50% |
Official Interest Rate [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 1.59% |
Official Interest Rate [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 3.20% |
Official Interest Rate [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 4.42% |
Unemployment Rate [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 7.31% |
Unemployment Rate [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 6.96% |
Unemployment Rate [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 6.50% |
Unemployment Rate [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 6.04% |
Unemployment Rate [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 5.70% |
Housing Price Growth [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | (1.70%) |
Housing Price Growth [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 1.04% |
Housing Price Growth [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 4.67% |
Housing Price Growth [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 8.30% |
Housing Price Growth [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 11.04% |
GDP Growth [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | (1.16%) |
GDP Growth [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 0.67% |
GDP Growth [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 3.12% |
GDP Growth [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 5.56% |
GDP Growth [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 7.40% |
Consumer Price Index [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | (0.26%) |
Consumer Price Index [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 1.07% |
Consumer Price Index [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 2.82% |
Consumer Price Index [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 4.57% |
Consumer Price Index [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of macroeconomic annual growth forecasts | 5.90% |
Risk Management (Details 5)
Risk Management (Details 5) - Probability Weighting [Member] | Dec. 31, 2019 |
Local Scenario [Member] | Favorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 10.00% |
Local Scenario [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 15.00% |
Local Scenario [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 50.00% |
Local Scenario [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 15.00% |
Local Scenario [Member] | Unfavorable Scenario 2 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 10.00% |
Global Scenario [Member] | Favorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 30.00% |
Global Scenario [Member] | Base Scenario [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 40.00% |
Global Scenario [Member] | Unfavorable Scenario 1 [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Percentage of probabilities scenarios | 30.00% |
Risk Management (Details 6)
Risk Management (Details 6) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 2,042 | $ 723 |
Macro Economic [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | 896,095 | 882,414 |
Gross carrying amount | $ 32,671,515 | $ 30,213,415 |
Reported ECL Coverage | 2.74% | 2.92% |
Macro Economic [Member] | Favorable Scenario 2 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 797,501 | $ 745,089 |
Reported ECL Coverage | 2.44% | 2.46% |
Macro Economic [Member] | Favorable Scenario 1 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 835,956 | $ 815,113 |
Reported ECL Coverage | 2.56% | 2.69% |
Macro Economic [Member] | Base Scenario [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 884,480 | $ 879,358 |
Reported ECL Coverage | 2.71% | 2.90% |
Macro Economic [Member] | Unfavorable Scenario 2 [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 929,802 | $ 949,329 |
Reported ECL Coverage | 2.85% | 3.13% |
Macro Economic [Member] | UnfavorableScenarioTwo1Member | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Reported ECL allowance | $ 962,437 | $ 970,563 |
Reported ECL Coverage | 2.95% | 3.21% |
Risk Management (Details 7)
Risk Management (Details 7) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Expected credit loss allowance | $ 2,042 | $ 723 |
Credit Risk [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Gross carrying amount | 32,737,681 | 30,282,022 |
Collateral | 19,654,196 | 17,823,535 |
Net exposure | 13,083,485 | 12,458,487 |
Expected credit loss allowance | 896,196 | 882,520 |
Credit Risk [Member] | Commercial Loans [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Gross carrying amount | 15,928,491 | 15,254,838 |
Collateral | 8,180,015 | 7,369,291 |
Net exposure | 7,748,476 | 7,885,547 |
Expected credit loss allowance | 506,670 | 506,908 |
Credit Risk [Member] | Mortgages [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Gross carrying amount | 11,262,995 | 10,150,981 |
Collateral | 10,725,604 | 9,699,324 |
Net exposure | 537,391 | 451,657 |
Expected credit loss allowance | 101,059 | 91,270 |
Credit Risk [Member] | Consumer Loans [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Gross carrying amount | 5,546,195 | 4,876,289 |
Collateral | 748,577 | 754,920 |
Net exposure | 4,797,618 | 4,121,369 |
Expected credit loss allowance | $ 288,467 | $ 284,342 |
Risk Management (Details 8)
Risk Management (Details 8) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Total | $ 80 | |
Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 59,129,994 | $ 48,345,002 |
Deposits In Banks [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 2,693,342 | 1,240,578 |
Cash Items In Process Of Collection [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 355,062 | 353,757 |
Financial Derivative Contracts [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 8,148,608 | 3,100,635 |
Financial Assets Held For Trading [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 270,204 | 77,041 |
Loans And Account Receivable At Amortised Cost / Loans And Account Receivable At FVOCI [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 31,841,485 | 29,399,589 |
Debt Instrument At Fair Value Through Other Comprehensive Income [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 4,010,272 | 2,394,323 |
Letters Of Credit Issued [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 140,572 | 223,420 |
Foreign Letters Of Credit Confirmed [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 70,192 | 57,038 |
Performance Guarantees [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 1,929,894 | 1,954,205 |
Available Credit Lines [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 8,732,422 | 8,997,650 |
Personal guarantees [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 451,950 | 133,623 |
Other Irrevocable Credit Commitments [Member] | Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | $ 485,991 | $ 327,297 |
Risk Management (Details 9)
Risk Management (Details 9) $ in Thousands | 12 Months Ended |
Dec. 31, 2019CLP ($)Number | |
USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Derivative Instruments (adjusted to market) | $ 14,360 |
Deposits | 1,400 |
Loans | 7,650 |
Financial investments | 0 |
Total Exposure | $ 23,410 |
Credit Risk [Member] | Derivatives Contracts [Member] | China | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 0 |
Deposits | 0 |
Loans | 7,230 |
Financial investments | 0 |
Total Exposure | $ 7,230 |
Credit Risk [Member] | Derivatives Contracts [Member] | Colombia | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 1,240 |
Deposits | 0 |
Loans | 0 |
Financial investments | 0 |
Total Exposure | $ 1,240 |
Credit Risk [Member] | Derivatives Contracts [Member] | Italy | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 0 |
Deposits | 1,360 |
Financial investments | 0 |
Total Exposure | $ 1,360 |
Credit Risk [Member] | Derivatives Contracts [Member] | Mexico | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 9,420 |
Deposits | 40 |
Loans | 0 |
Financial investments | 0 |
Total Exposure | $ 9,460 |
Credit Risk [Member] | Derivatives Contracts [Member] | Panama | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 1,500 |
Deposits | 0 |
Loans | 0 |
Financial investments | 0 |
Total Exposure | $ 1,500 |
Credit Risk [Member] | Derivatives Contracts [Member] | Peru | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 2,200 |
Deposits | 0 |
Loans | 0 |
Financial investments | 0 |
Total Exposure | $ 2,200 |
Credit Risk [Member] | Derivatives Contracts [Member] | Uruguay | USD [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | Number | 2 |
Derivative Instruments (adjusted to market) | $ 0 |
Deposits | 0 |
Loans | 100 |
Financial investments | 0 |
Total Exposure | $ 100 |
Risk Management (Details 10)
Risk Management (Details 10) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019CLP ($)Number | ||
USD [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative Instruments (adjusted to market) | $ 14,360 | |
Deposits | 1,400 | |
Loans | 7,650 | |
Financial investments | 0 | |
Total Exposure | $ 23,410 | |
Credit Risk [Member] | Derivatives Contracts [Member] | UK [Member] | USD [Member] | Santander UK [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Classification | Number | 1 | |
Derivative Instruments (adjusted to market) | $ 24,000 | |
Deposits | 2,000 | |
Loans | 0 | |
Financial investments | 0 | |
Total Exposure | $ 26,000 | |
Credit Risk [Member] | Derivatives Contracts [Member] | Mexico | USD [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Classification | Number | 2 | |
Derivative Instruments (adjusted to market) | $ 9,420 | |
Deposits | 40 | |
Loans | 0 | |
Financial investments | 0 | |
Total Exposure | $ 9,460 | |
Credit Risk [Member] | Derivatives Contracts [Member] | Mexico | USD [Member] | Banco Santander Mexico [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Classification | Number | 2 | |
Derivative Instruments (adjusted to market) | $ 9,400 | |
Deposits | 0 | |
Loans | 0 | |
Financial investments | 0 | |
Total Exposure | $ 9,400 | |
Credit Risk [Member] | Derivatives Contracts [Member] | Banco Santander España [Member] | Spain | USD [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Classification | Number | 1 | [1] |
Derivative Instruments (adjusted to market) | $ 319,000 | [1] |
Deposits | 54,800 | [1] |
Loans | 400 | [1] |
Financial investments | 0 | [1] |
Total Exposure | $ 374,200 | [1] |
[1] | The total amount of this exposure to derivative instruments must be compensated daily with collateral and, therefore, the net credit exposure is USD 0. |
Risk Management (Details 11)
Risk Management (Details 11) - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Total | $ 26,258,710 | $ 24,368,176 |
Properties/Mortgages [Member] | Non-impaired Financial Assets [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 23,371,510 | 22,047,354 |
Properties/Mortgages [Member] | Impaired Financial Assets [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 101,456 | 119,181 |
Investments & Others [Member] | Non-impaired Financial Assets [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 2,785,219 | 2,200,776 |
Investments & Others [Member] | Impaired Financial Assets [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 525 | $ 865 |
Risk Management (Details 12)
Risk Management (Details 12) - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | $ 6,013,124 | $ 3,538,937 | |
Financial investments for trading [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | 270,204 | 77,041 | |
Available for sale investments | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | 4,010,272 | 2,394,323 | |
Encumbered assets (net) [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [1] | (380,055) | (48,843) |
Net cash [Memeber] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [2] | 2,384,323 | 149,321 |
Net Interbank deposits [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [3] | $ (281,620) | $ 967,095 |
[1] | Assets encumbered through repurchase agreements are deduced from liquidity portfolio | ||
[2] | Cash minus reserve requirements. As is presented in Note 5 the reserve requirements are established by the monthly average reserves that the bank must maintain in accordance with regulation governing minimum reserves. | ||
[3] | Includes overnight deposits in Central Bank, domestic banks and foreign banks. |
Risk Management (Details 13)
Risk Management (Details 13) - Liquidity Risk [Member] | Dec. 31, 2019 | Dec. 31, 2018 |
30 Days Foreign Currency [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | 0.00% | 0.00% |
30 Days [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | 63.00% | (20.00%) |
90 Days [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | 79.00% | (37.00%) |
Risk Management (Details 14)
Risk Management (Details 14) - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Obligations under repurchase agreements [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | $ 380,055 | $ 48,545 |
Obligations under repurchase agreements [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 380,055 | 48,545 |
Obligations under repurchase agreements [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 380,055 | 48,545 |
Obligations under repurchase agreements [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 23,490,249 | 21,972,279 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 10,439,705 | 9,027,434 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,184,567 | 5,248,418 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,905,414 | 4,108,556 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,417,703 | 3,326,199 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 22,947,389 | 21,710,607 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 357,856 | 191,547 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 163,121 | 6,137 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 21,883 | 63,988 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 542,860 | 261,672 |
Financial Derivatives Contracts [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 7,390,654 | 2,517,728 |
Financial Derivatives Contracts [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Financial Derivatives Contracts [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 422,749 | 131,378 |
Financial Derivatives Contracts [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 427,825 | 120,361 |
Financial Derivatives Contracts [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 951,684 | 349,551 |
Financial Derivatives Contracts [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,802,258 | 601,290 |
Financial Derivatives Contracts [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,253,280 | 495,789 |
Financial Derivatives Contracts [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,180,948 | 471,185 |
Financial Derivatives Contracts [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,154,168 | 949,464 |
Financial Derivatives Contracts [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,588,396 | 1,916,438 |
Interbank Borrowings [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,519,818 | 1,788,626 |
Interbank Borrowings [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 94 | 39,378 |
Interbank Borrowings [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 363,560 | 16,310 |
Interbank Borrowings [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 624,167 | 404,575 |
Interbank Borrowings [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,141,824 | 1,188,692 |
Interbank Borrowings [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,129,645 | 1,648,955 |
Interbank Borrowings [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 387,936 | 139,671 |
Interbank Borrowings [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,237 | |
Interbank Borrowings [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Interbank Borrowings [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 390,173 | 139,671 |
Issue debt instruments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 9,500,723 | 8,115,233 |
Issue debt instruments [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Issue debt instruments [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 285,159 | 71,465 |
Issue debt instruments [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 759,519 | 39,267 |
Issue debt instruments [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,044,674 | 745,830 |
Issue debt instruments [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,089,352 | 856,562 |
Issue debt instruments [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,394,850 | 2,431,849 |
Issue debt instruments [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 22,292 | 1,549,743 |
Issue debt instruments [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,974,229 | 3,277,079 |
Issue debt instruments [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 7,411,371 | 7,258,671 |
Other financial liabilities [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 226,358 | 215,400 |
Other financial liabilities [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 161,021 | 179,681 |
Other financial liabilities [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,155 | 934 |
Other financial liabilities [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 30,969 | 2,412 |
Other financial liabilities [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 28,888 | 22,844 |
Other financial liabilities [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 226,033 | 205,871 |
Other financial liabilities [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 83 | 9,261 |
Other financial liabilities [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 99 | 92 |
Other financial liabilities [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 143 | 176 |
Other financial liabilities [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 325 | 9,529 |
Total Financial Liabilities Before Interest Payment [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 43,666,351 | 34,657,811 |
Total Financial Liabilities Before Interest Payment [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 10,600,820 | 9,246,493 |
Total Financial Liabilities Before Interest Payment [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,641,245 | 5,517,050 |
Total Financial Liabilities Before Interest Payment [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,747,894 | 4,675,171 |
Total Financial Liabilities Before Interest Payment [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,610,834 | 5,633,116 |
Total Financial Liabilities Before Interest Payment [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 29,600,793 | 25,071,830 |
Total Financial Liabilities Before Interest Payment [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,439,983 | 3,268,117 |
Total Financial Liabilities Before Interest Payment [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,425,090 | 2,027,157 |
Total Financial Liabilities Before Interest Payment [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,200,485 | 4,290,707 |
Total Financial Liabilities Before Interest Payment [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 14,065,558 | 9,585,981 |
Contractual Interest Payments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 8,630,173 | 4,863,456 |
Contractual Interest Payments [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 10,473 | 4,918 |
Contractual Interest Payments [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 148,731 | 82,292 |
Contractual Interest Payments [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 267,994 | 158,760 |
Contractual Interest Payments [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,727,401 | 812,920 |
Contractual Interest Payments [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,154,599 | 1,058,890 |
Contractual Interest Payments [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,720,990 | 1,156,262 |
Contractual Interest Payments [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,653,500 | 1,110,918 |
Contractual Interest Payments [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,101,084 | 1,537,385 |
Contractual Interest Payments [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,475,574 | 3,804,565 |
Total Financial Liabilities After Interest Payment [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 52,296,524 | 39,521,267 |
Total Financial Liabilities After Interest Payment [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 10,611,293 | 9,251,411 |
Total Financial Liabilities After Interest Payment [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,789,976 | 5,599,342 |
Total Financial Liabilities After Interest Payment [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 7,015,888 | 4,833,931 |
Total Financial Liabilities After Interest Payment [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 7,338,235 | 6,446,036 |
Total Financial Liabilities After Interest Payment [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 31,755,392 | 26,130,720 |
Total Financial Liabilities After Interest Payment [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,160,973 | 4,424,379 |
Total Financial Liabilities After Interest Payment [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,078,590 | 3,138,075 |
Total Financial Liabilities After Interest Payment [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 9,301,569 | 5,828,092 |
Total Financial Liabilities After Interest Payment [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 20,541,132 | $ 13,390,546 |
Lease liabilities [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 158,494 | |
Lease liabilities [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Lease liabilities [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Lease liabilities [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Lease liabilities [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 26,061 | |
Lease liabilities [Member] | Due Within 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 26,061 | |
Lease liabilities [Member] | Between 1 and 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 45,978 | |
Lease liabilities [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 36,393 | |
Lease liabilities [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 50,062 | |
Lease liabilities [Member] | More Than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | $ 132,433 |
Risk Management (Details 15)
Risk Management (Details 15) - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Issue debt instruments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 9,500,723 | $ 8,115,233 |
Issue debt instruments [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 285,159 | 71,465 |
Issue debt instruments [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 759,519 | 39,267 |
Issue debt instruments [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,044,674 | 745,830 |
Issue debt instruments [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,974,229 | 3,277,079 |
Issue debt instruments [Member] | Later than three years and not later than five years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,292 | 1,549,743 |
Other Commercial Commitments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,638,286 | |
Other Commercial Commitments [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 230,767 | 702,081 |
Other Commercial Commitments [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 555,535 | 371,475 |
Other Commercial Commitments [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,262,006 | 1,034,383 |
Other Commercial Commitments [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 509,631 | 226,962 |
Other Commercial Commitments [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,580,231 | 33,385 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,923,022 | 1,954,205 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 144,364 | 663,642 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 544,370 | 188,147 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 899,437 | 905,554 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 312,559 | 163,506 |
Other Commercial Commitments [Member] | Performance Guarantees [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,292 | 33,356 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 70,192 | 57,038 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 25,491 | 3,842 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,808 | 9,128 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 11,306 | 33,177 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 31,587 | 10,891 |
Other Commercial Commitments [Member] | Confirmed Foreign Letters of Credit [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | ||
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 135,266 | 223,420 |
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,555 | 12,469 |
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 348 | 110,970 |
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 33,439 | 54,015 |
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 70,924 | 45,937 |
Other Commercial Commitments [Member] | Letters Of Credit Issued [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 29 | |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 451,751 | 133,623 |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | Not Later Than One Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,357 | 22,128 |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | Later Than One Month And Not Later Than Three Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 9,009 | 63,230 |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | More Than 3 Months To 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 317,824 | 41,637 |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 94,561 | 6,628 |
Other Commercial Commitments [Member] | Pledges And Other Commercial Commitments [Member] | Due After 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities |
Risk Management (Details 16)
Risk Management (Details 16) - Market Risk [Member] - USD [Member] - CLP ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Consolidated [Member] | Top of range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | $ 15,780 | $ 5,230 |
Consolidated [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 1,330 | 1,210 |
Consolidated [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 3,060 | 2,010 |
Foreign Currency Investments [Member] | Top of range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 6,050 | 4,290 |
Foreign Currency Investments [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 100 | 90 |
Foreign Currency Investments [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 1,600 | 1,140 |
Variable-Income Investments [Member] | Top of range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 10 | |
Variable-Income Investments [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 10 | 0 |
Variable-Income Investments [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 0 | |
Fixed-Income Investments [Member] | Top of range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 9,770 | 2,540 |
Fixed-Income Investments [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | 1,180 | 1,190 |
Fixed-Income Investments [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Value at risk | $ 2,330 | $ 1,710 |
Risk Management (Details 17)
Risk Management (Details 17) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial management portfolio - local currency [Member] | Loss Limit [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | $ 100,000 | $ 48,000 |
Effect on capital | 275,000 | 192,001 |
Financial management portfolio - local currency [Member] | High [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 32,719 | 43,742 |
Effect on capital | 273,473 | 189,725 |
Financial management portfolio - local currency [Member] | Average [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 24,719 | 37,569 |
Effect on capital | 228,772 | 180,972 |
Financial management portfolio - local currency [Member] | Low [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 12,686 | 27,854 |
Effect on capital | 145,338 | 170,450 |
Financial management portfolio - consolidated [Member] | Loss Limit [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 100,000 | 48,000 |
Effect on capital | 275,000 | 192,002 |
Financial management portfolio - consolidated [Member] | High [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 34,462 | 45,492 |
Effect on capital | 271,989 | 192,848 |
Financial management portfolio - consolidated [Member] | Average [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 27,918 | 38,908 |
Effect on capital | 227,303 | 182,557 |
Financial management portfolio - consolidated [Member] | Low [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 15,236 | 29,167 |
Effect on capital | 143,836 | 168,766 |
Financial management portfolio - foreign currency [Member] | Loss Limit [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 30 | 30 |
Effect on capital | 75 | 75 |
Financial management portfolio - foreign currency [Member] | High [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 20 | 12 |
Effect on capital | 35 | 38 |
Financial management portfolio - foreign currency [Member] | Average [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 12 | 9 |
Effect on capital | 12 | 22 |
Financial management portfolio - foreign currency [Member] | Low [Member] | USD [Member] | ||
Statement Line Items [Line Items] | ||
Effect on financial income | 5 | 4 |
Effect on capital | $ 1 | $ (10) |
Risk Management (Details 18)
Risk Management (Details 18) - Capital Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Basic capital | $ 3,390,823 | $ 3,239,546 |
Regulatory capital | $ 4,304,401 | $ 4,101,664 |
Basic capital | 6.96% | 7.72% |
Regulatory capital | 12.86% | 13.40% |
Risk Management (Details Textua
Risk Management (Details Textual) $ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLF ( ) | Dec. 31, 2018CLP ($) | |
Risk Management (Textual) | ||||
Credit risk | $ 80 | |||
Corporate and Investment Banking Portfolio | 100.00% | |||
commercial loans | $ 400 | |||
Smaller commercial loans | $ 240,000 | |||
Corporate and Investment Banking segment | 100.00% | |||
Derivative instruments portfolio | $ 2,309 | |||
Derivative instruments asset | 365.00% | |||
lieu of payment | $ 38,890 | $ 38,326 | ||
lieu of payment, gross | 40,932 | 39,049 | ||
lieu of payment, allowance | $ 2,042 | 723 | ||
Market risk trading portfolio, description | For the Bank, the VaR estimate is made under the historical simulation methodology, which consists of observing the behavior of the profits and losses that would have occurred in the current portfolio if the market conditions for a given historical period had been in force, in order to infer the maximum loss on the basis of that information, with a given degree of confidence. The methodology has the advantage of precisely reflecting the historical distribution of the market variables and not requiring any assumptions regarding the distribution of specific probabilities. All the VaR measures are intended to determine the distribution function for a change in the value of a given portfolio, and once that distribution is known, to calculate the percentile related to the necessary degree of confidence, which will be equal to the value at risk by virtue of those parameters. As calculated by the Bank, the VaR is an estimate of the maximum expected loss of market value for a given portfolio over a 1–day horizon, with a 99.00% confidence level. It is the maximum 1–day loss that the Bank could expect to experience in a given portfolio, with a 99.00% confidence level. In other words, it is the loss that the Bank would expect to experience only 1.0% of the time. The VaR provides a single estimate of market risk which is not comparable from one market risk to another. Returns are calculated through the use of a 2–year time window or at least 520 data points obtained since the last reference date for calculation of the VaR going backward in time. | |||
Capital adequacy requirement, description | Chilean banks are required by the General Banking Law to maintain regulatory capital of at least 8% of risk-weighted assets, net of required loan loss allowance and deductions, and paid-in capital and reserves (“basic capital”) of at least 3% of total assets, net of required loan loss allowances. Regulatory capital and basic capital are calculated based on the consolidated financial statements prepared in accordance with the Compendium of Accounting Standards issued by the CMF (former SBIF) the Chilean regulatory agency. As we are the result of the merger between two predecessors with a relevant market share in the Chilean market, we are currently required to maintain a minimum regulatory capital to risk-weighted assets ratio of 11%. As of December 31, 2019, the ratio of our regulatory capital to risk-weighted assets, net of loan loss allowance and deductions, was 12,86% and our core capital ratio was 6,96%. Regulatory capital is defined as the aggregate of: ● a bank’s paid-in capital and reserves, excluding capital attributable to subsidiaries and foreign branches or basic capital; ● its subordinated bonds, valued at their placement price (but decreasing by 20,0% for each year during the period commencing six years prior to maturity), for an amount up to 50,0% of its basic capital; and ● its voluntary allowances for loan losses for an amount of up to 1,25% of risk weighted-assets. | |||
Capital and reserves | $ 2,122,742 | $ 1,923,022 | ||
level of confidence | 99.00% | |||
CLF [Member] | ||||
Risk Management (Textual) | ||||
Capital and reserves | | 800,000,000,000 | |||
USD [Member] | ||||
Risk Management (Textual) | ||||
Capital and reserves | $ 303 | |||
Ch [Member] | ||||
Risk Management (Textual) | ||||
Capital and reserves | $ 22,648 | |||
US treasury notes [Member] | ||||
Risk Management (Textual) | ||||
Total investment portfolio | 99.00% | |||
Chilean Central Bank[Member] | ||||
Risk Management (Textual) | ||||
Total investment portfolio | 99.00% |
Non Current Assets Held for S_3
Non Current Assets Held for Sale (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Statement Line Items [Line Items] | ||||
Assets | $ 22,394 | |||
Total | 1,699 | 3,771 | $ 2,819 | |
Transbank S.A. [Member] | ||||
Statement Line Items [Line Items] | ||||
Assets | $ 19,093 | |||
Participation | 25.00% | |||
Total | $ 1,442 | 3,118 | 2,024 | |
Nexus [Member] | ||||
Statement Line Items [Line Items] | ||||
Assets | [1] | $ 357 | ||
Participation | [1] | 1.94% | ||
Total | [1] | $ 136 | 368 | 442 |
Redbanc [Member] | ||||
Statement Line Items [Line Items] | ||||
Assets | $ 2,944 | |||
Participation | 33.43% | |||
Total | $ 121 | $ 285 | $ 353 | |
[1] | Remaining participation pending to sell at the end of the current year. See Note 40. |
Subsequent Events (Details)
Subsequent Events (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Repurchase Bond [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 375,000 |
Date | Jan. 2, 2020 |
Repurchase Bond [Member] | CHF [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 50,000,000 |
Date | Jan. 13, 2020 |
Repurchase Bond 1 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 131,000 |
Date | Jan. 14, 2020 |
Repurchase Bond 1 [Member] | CHF [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 9,820,000,000 |
Date | Jan. 14, 2020 |
Repurchase Bond 2 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 171,000 |
Date | Jan. 21, 2020 |
Repurchase Bond 2 [Member] | CHF | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 400,000,000 |
Date | Jan. 15, 2020 |
Repurchase Bond Three [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 181,000 |
Date | Jan. 21, 2020 |
Repurchase Bond Three [Member] | CHF | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 330,000,000 |
Date | Jan. 21, 2020 |
Repurchase Bond 4 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 2,000 |
Date | Jan. 24, 2020 |
Repurchase Bond 4 [Member] | CHF | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 11,430,000,000 |
Date | Jan. 22, 2020 |
Repurchase Bond 5 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 15,000 |
Date | Feb. 17, 2020 |
Repurchase Bond 6 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 2,000 |
Date | Feb. 17, 2020 |
Repurchase Bond 7 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 50,000 |
Date | Feb. 18, 2020 |
Repurchase Bond 8 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 4,000 |
Date | Feb. 18, 2020 |
Repurchase Bond 9 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 350,000 |
Date | Feb. 20, 2020 |
Repurchase Bond 10 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 115,000 |
Date | Feb. 20, 2020 |
Repurchase Bond 11 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 57,000 |
Date | Feb. 21, 2020 |
Repurchase Bond 12 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 24,000 |
Date | Feb. 21, 2020 |
Repurchase Bond 13 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 10,000 |
Date | Feb. 24, 2020 |
Repurchase Bond 14 [Member] | Unidad De Fomento [Member] | |
Statement Line Items [Line Items] | |
Repurchases bond | $ 25,000 |
Date | Feb. 24, 2020 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) - CLP ($) $ in Millions | Nov. 27, 2018 | Jan. 21, 2020 | Feb. 04, 2020 | Jan. 22, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial liabilities [line items] | |||||||
Notion amount | $ 377,131,597 | $ 241,467,084 | $ 177,224,139 | ||||
Non-adjusting events after reporting period [member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Bond issuance and repurchase, Shares | 280 | ||||||
Non-adjusting events after reporting period [member] | USD [Member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notion amount | $ 750 | ||||||
Bond issuance and repurchase term | 5 years | ||||||
Non-adjusting events after reporting period [member] | USD [Member] | Nexus [Member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notion amount | $ 79,577 | ||||||
Non-adjusting events after reporting period [member] | Senior Bonds [Member] | Unidad De Fomento [Member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notion amount | $ 2,000,000 | ||||||
Non-adjusting events after reporting period [member] | Subordinated bond [Member] | USD [Member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notion amount | $ 200 |