Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information Line Items | |
Entity Registrant Name | BANCO SANTANDER CHILE |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 0 |
Amendment Flag | false |
Entity Central Index Key | 0001027552 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Well-known Seasoned Issuer | Yes |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Annual Report | true |
Document Shell Company Report | false |
Document Transition Report | false |
Entity File Number | 1-14554 |
Entity Incorporation, State or Country Code | F3 |
Entity Interactive Data Current | Yes |
Consolidated Statements of Fina
Consolidated Statements of Financial Position $ in Millions, $ in Millions | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) |
ASSETS | ||
Cash and deposits in banks | $ 2,803,288 | $ 3,554,520 |
Cash items in process of collection | 452,963 | 355,062 |
Financial derivative contracts | 9,032,085 | 8,148,608 |
Financial assets held for trading | 133,718 | 270,204 |
Loans and account receivable at amortized cost | 33,303,100 | 31,775,420 |
Loans and account receivable at fair value through other comprehensive income | 69,331 | 66,065 |
Debt instrument at fair value through other comprehensive income | 7,162,542 | 4,010,272 |
Equity instruments at fair value through other comprehensive income | 548 | 482 |
Investments in associates and other companies | 10,396 | 10,177 |
Intangible assets | 82,537 | 73,389 |
Property, plant, and equipment | 240,854 | 250,761 |
Right of use assets | 147,997 | 157,572 |
Current taxes | 11,648 | |
Deferred taxes | 516,490 | 451,388 |
Other assets | 1,747,374 | 1,439,146 |
TOTAL ASSETS | 55,703,223 | 50,574,714 |
LIABILITIES | ||
Deposits and other demand liabilities | 14,560,893 | 10,297,432 |
Cash items in process of being cleared | 361,631 | 198,248 |
Obligations under repurchase agreements | 969,808 | 380,055 |
Time deposits and other time liabilities | 10,581,791 | 13,192,817 |
Financial derivative contracts | 9,018,660 | 7,390,654 |
Interbank borrowings | 6,328,599 | 2,519,818 |
Issued debt instruments | 8,204,177 | 9,500,723 |
Other financial liabilities | 184,318 | 226,358 |
Lease liabilities | 149,585 | 158,494 |
Current taxes | 12,977 | |
Deferred taxes | 129,493 | 99,157 |
Provisions | 330,664 | 326,130 |
Other liabilities | 1,165,853 | 2,806,325 |
TOTAL LIABILITIES | 51,998,449 | 47,096,211 |
EQUITY | ||
Attributable to the shareholders of the Bank: | 3,620,091 | 3,398,870 |
Capital | 891,303 | 891,303 |
Reserves | 2,343,580 | 2,122,742 |
Valuation adjustments | (25,293) | (8,856) |
Retained earnings | 410,501 | 393,681 |
Retained earnings from prior years | 27,171 | (39,683) |
Income for the year | 547,614 | 619,091 |
Minus: Provision for mandatory dividends | (164,284) | (185,727) |
Non-controlling interest | 84,683 | 79,633 |
TOTAL EQUITY | 3,704,774 | 3,478,503 |
TOTAL LIABILITIES AND EQUITY | $ 55,703,223 | $ 50,574,714 |
Consolidated Statements of Inco
Consolidated Statements of Income $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CLP ($)$ / shares | Dec. 31, 2019CLP ($)$ / shares | Dec. 31, 2018CLP ($)$ / shares | |
OPERATING INCOME | |||
Interest income | $ 2,232,327 | $ 2,321,381 | $ 2,244,317 |
Interest expense | (638,479) | (904,417) | (829,949) |
Net interest income | 1,593,848 | 1,416,964 | 1,414,368 |
Fee and commission income | 451,162 | 498,658 | 484,463 |
Fee and commission expense | (183,884) | (211,572) | (193,578) |
Net fee and commission income | 267,278 | 287,086 | 290,885 |
Net income (expense) from financial operations | 90,800 | (78,165) | 53,174 |
Net foreign exchange gain | 58,997 | 279,857 | 51,908 |
Other operating income | 8,206 | 13,001 | 23,129 |
Net operating profit before provision for loan losses | 2,019,129 | 1,918,743 | 1,833,464 |
Provision for loan losses | (478,264) | (323,311) | (317,408) |
NET OPERATING INCOME | 1,540,865 | 1,595,432 | 1,516,056 |
Personnel salaries and expenses | (408,670) | (410,157) | (397,564) |
Administrative expenses | (250,450) | (233,612) | (245,089) |
Depreciation and amortization | (109,426) | (106,092) | (79,280) |
Impairment of property, plant, and equipment | (638) | (2,726) | (39) |
Other operating expenses | (77,806) | (49,303) | (32,342) |
Total operating expenses | (846,990) | (801,890) | (754,314) |
OPERATING INCOME | 693,875 | 793,542 | 761,742 |
Income from investments in associates and other companies | 1,388 | 1,146 | 1,324 |
Income from continuing operations before tax | 695,263 | 794,688 | 763,066 |
Income tax expense | (142,533) | (175,074) | (167,144) |
Result of continuing operations | 552,730 | 619,614 | 595,922 |
Result of discontinued operations | 1,699 | 3,771 | |
NET INCOME FOR THE YEAR | 552,730 | 621,313 | 599,693 |
Attributable to: | |||
Shareholders of the Bank | 547,614 | 619,091 | 595,333 |
Non-controlling interest | $ 5,116 | $ 2,222 | $ 4,360 |
Earnings per share from continued operations attributable to shareholders of the Bank: | |||
Basic earnings (in Pesos per share) | (per share) | $ 2.906 | $ 3.276 | $ 3.139 |
Diluted earnings (in Pesos per share) | (per share) | 2.906 | 3.276 | 3.139 |
Earnings per share from discontinued operations attributable to shareholders of the Bank: | |||
Basic earnings (in Pesos per share) | (per share) | 0.009 | 0.020 | |
Diluted earnings (in Pesos per share) | (per share) | 0.009 | 0.020 | |
Earnings per share attributable to shareholders of the Bank: | |||
Basic earnings (in Pesos per share) | (per share) | 2.906 | 3.285 | 3.159 |
Diluted earnings (in Pesos per share) | (per share) | $ 2.906 | $ 3.285 | $ 3.159 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Consolidated Statements of Comprehensive Income [Abstract] | |||
NET INCOME FOR THE YEAR | $ 552,730 | $ 621,313 | $ 599,693 |
Other comprehensive income that will not be reclassified to profit or loss | |||
Equity instruments at fair value through other comprehensive income | (18) | (1) | (113) |
Income tax related to the above | 5 | 31 | |
Total items that will not be reclassified to the income statements | (13) | (1) | (82) |
Other comprehensive income that will be reclassified to profit or loss | |||
Debt instruments at fair value through other comprehensive income | 73,689 | 22,223 | 4,826 |
Cash flow hedge | (96,330) | (50,238) | 13,365 |
Income tax related to the above | 6,296 | 7,618 | (4,903) |
Total items that will be reclassified to the income statements | (16,345) | (20,397) | 13,288 |
Other comprehensive income for the year, net of tax | (16,358) | (20,398) | 13,206 |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 536,372 | 600,915 | 612,899 |
Attributable to: | |||
Shareholders of the Bank | 531,177 | 598,693 | 608,623 |
Non-controlling interests | $ 5,195 | $ 2,222 | $ 4,276 |
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 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 | |
Distribution of income from previous period | 562,801 | (562,801) | |||||||||||
Equity | 891,303 | 1,784,042 | (2,224) | 459 | (3,562) | 791 | 604,068 | (168,840) | 3,106,037 | 41,883 | 3,147,920 | ||
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 | 595,923 | |||||||||
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 Dec. 31, 2018 | 891,303 | 1,925,246 | (2,224) | 5,652 | 9,803 | (4,102) | (43,114) | 595,333 | (178,600) | 46,163 | 3,245,460 | ||
Distribution of income from previous period | 595,333 | (595,333) | |||||||||||
Equity | 891,303 | 1,925,246 | (2,224) | 5,652 | 9,803 | (4,102) | 552,219 | (178,600) | 46,163 | 3,245,460 | |||
Purchase of Santander Consumer S.A. | [1] | (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 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 | |
Distribution of income from previous period | 619,091 | (619,091) | |||||||||||
Equity | 891,303 | 2,124,966 | (2,224) | 28,135 | (40,435) | 3,444 | 579,408 | (185,727) | 3,398,870 | 79,633 | 3,478,503 | ||
Dividends distributions / withdrawals made | (331,399) | 185,727 | (145,672) | (145) | (145,817) | ||||||||
Transfer of retained earnings to reserves | 220,838 | (220,838) | |||||||||||
Provision for mandatory dividends | (164,284) | (164,284) | (164,284) | ||||||||||
Subtotal | 220,838 | (552,237) | 21,443 | (309,956) | (145) | (310,101) | |||||||
Other comprehensive income | 73,561 | (96,330) | 6,332 | (16,437) | 79 | (16,358) | |||||||
Result of continuous operations | 517,614 | 547,614 | 5,116 | 552,730 | |||||||||
Result of discontinuous operations | |||||||||||||
Subtotal | 73,561 | (96,330) | 6,332 | 547,614 | 531,177 | 5,195 | 536,372 | ||||||
Equity at Dec. 31, 2020 | $ 891,303 | $ 2,345,804 | $ (2,224) | $ 101,696 | $ (136,765) | $ 9,776 | $ 27,171 | $ 547,614 | $ (164,284) | $ 3,620,091 | $ 84,683 | $ 3,704,774 | |
[1] | The effect was generated by the acquisition of Santander Consumer S.A. See Note 2 Significant Event. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parentheticals) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Total attributable to shareholders of the Bank | $ 552,093 | $ 591,902 | $ 564,815 |
Allocated to reserves | 220,838 | 236,761 | 141,204 |
Allocated to dividends | $ 165,627 | $ 355,141 | $ 423,611 |
Percentage distributed | 30.00% | 60.00% | 75.00% |
Number of shares (in Shares) | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Dividend per share (in pesos) (in Pesos per share) | $ 0.879 | $ 1.885 | $ 2.248 |
Extraordinary Shareholders Meeting [Member] | |||
Total attributable to shareholders of the Bank | $ 552,093 | ||
Allocated to reserves | 220,838 | ||
Allocated to dividends | $ 165,628 | ||
Percentage distributed | 30.00% | ||
Number of shares (in Shares) | 188,446,126,794 | ||
Dividend per share (in pesos) (in Pesos per share) | $ 0.879 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of cash flows [abstract] | |||
NET INCOME FOR THE YEAR | $ 552,730 | $ 621,313 | $ 599,693 |
Adjustments for non-cash items included in net income | (1,179,767) | (1,119,126) | (1,266,270) |
Depreciation and amortization | 109,426 | 106,092 | 79,280 |
Impairment of property, plant, and equipment | 638 | 2,726 | 39 |
Provision for loan losses | 553,190 | 406,024 | 405,889 |
Mark to market of trading investments | 43,609 | 39,997 | 1,438 |
Income from investments in associates and other companies | (1,388) | (1,146) | (5,095) |
Net gain on sale of assets received in lieu of payment | (5,934) | (5,613) | (7,106) |
Provision on assets received in lieu of payment | 1,456 | 1,809 | 816 |
Loss on sale of associate | 20 | 126 | |
Net gain on sale of property, plant and equipment | (865) | (2,456) | (2,490) |
Net interest income | (1,593,848) | (1,416,964) | (1,414,368) |
Net fee and commission income | (267,278) | (287,086) | (290,885) |
Changes in deferred taxes | (28,465) | 37,432 | (25,517) |
Other non-cash items | 9,672 | (67) | (8,271) |
Increase/decrease in operating assets and liabilities | 192,956 | 2,346,978 | 1,689,069 |
(Increase) of loans and accounts receivables from customers, net | (1,673,357) | (2,449,954) | (2,703,700) |
Decrease (increase) of financial investments | (3,015,784) | (1,809,112) | 588,918 |
Decrease (increase) of interbank loans | (4,078) | 232 | 147,534 |
Decrease of assets received or awarded in lieu of payment | 8,289 | (1,743) | 722 |
Increase of debits in customers checking accounts | 3,249,540 | 1,298,976 | 521,476 |
(Decrease) increase of time deposits and other time liabilities | (2,611,026) | 124,998 | 1,153,874 |
Increase (decrease) of obligations with domestic banks | (54,518) | 271,620 | (480) |
Increase (decrease) of other demand liabilities or time obligations | 842,080 | 257,039 | 451,775 |
Increase of obligations with foreign banks | (1,095,961) | 459,572 | 90,754 |
(Decrease) increase of obligations with Central Bank of Chile | 4,959,260 | (5) | |
(Decrease) increase of obligations under repurchase agreements | 589,753 | 331,510 | (219,516) |
Increase (decrease) in other financial liabilities | (42,040) | 10,958 | (26,630) |
(Decrease) increase of other assets and liabilities | (1,850,030) | 989,451 | (872,264) |
Redemption of letters of credit | (6,188) | (6,988) | (8,989) |
Senior bond issuances | 1,227,166 | 1,893,552 | 1,156,057 |
Redemption of mortgage bonds and payments of interest | (6,312) | (6,109) | (5,911) |
Redemption of senior bonds and payments of interest | (2,571,384) | (714,783) | (289,837) |
Interest received | 2,232,327 | 2,321,381 | 2,244,317 |
Interest paid | (638,479) | (904,417) | (829,949) |
Dividends received from investments in other companies | 508 | 130 | 38 |
Fees and commissions received | 451,162 | 498,658 | 484,463 |
Fees and commissions paid | (183,884) | (211,572) | (193,578) |
Total cash flow (used in) provided by operating activities | (819,993) | 1,855,586 | 1,022,492 |
B - CASH FLOWS FROM INVESTMENT ACTIVITIES: | |||
Purchases of property, plant, and equipment | (50,613) | (57,390) | (68,329) |
Sales of property, plant, and equipment | 15,678 | 8,666 | 6,297 |
Sales of investments in associates | 1,930 | ||
Purchases of investments in associates and other companies | (62,136) | ||
Purchases of intangible assets | (35,170) | (32,860) | (29,563) |
Total cash flow used in investment activities | (70,105) | (141,790) | (91,565) |
C - CASH FLOW FROM FINANCING ACTIVITIES: | |||
Dividends paid | (331,255) | (355,141) | (423,611) |
Placement of subordinated bond | 475,390 | ||
Lease obligation paid | (42,045) | (30,145) | |
Total cash flow used in financing activities | 102,090 | (385,286) | (423,611) |
D – NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS DURING THE YEAR | (788,008) | 1,328,510 | 507,316 |
E – EFFECTS OF FOREIGN EXCHANGE RATE FLUCTUATIONS | (28,706) | 126,669 | 114,498 |
F - INITIAL BALANCE OF CASH AND CASH EQUIVALENTS | 3,711,334 | 2,256,155 | 1,634,341 |
FINAL BALANCE OF CASH AND CASH EQUIVALENTS | 2,984,620 | 3,711,334 | 2,256,155 |
Provision for loan losses for cash flow purposes | 553,190 | 406,024 | 405,889 |
Recovery of loans previously charged off | (74,926) | (82,713) | (88,481) |
Provision for loan losses – net | $ 478,264 | $ 323,311 | $ 317,408 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance as of beginning | $ 432,798 | |
Cash flow | $ (18,624) | |
Acquisition | 39,394 | |
Foreign currency exchange | ||
UF Inflation effect | 57,807 | |
Fair value changes | ||
Balance as of ending | 632,089 | |
Subordinated Bonds [Member] | ||
Balance as of beginning | 818,084 | |
Cash flow | 475,390 | |
Acquisition | ||
Foreign currency exchange | ||
UF Inflation effect | 64,065 | |
Fair value changes | ||
Balance as of ending | 1,357,539 | |
Paid Dividend [Member] | ||
Balance as of beginning | (355,141) | |
Cash flow | (331,255) | |
Acquisition | ||
Foreign currency exchange | ||
UF Inflation effect | ||
Fair value changes | ||
Balance as of ending | (686,396) | |
Other Liabilities [Member] | ||
Balance as of beginning | $ (30,145) | |
Cash flow | (42,045) | |
Acquisition | 39,394 | |
Foreign currency exchange | ||
UF Inflation effect | (6,258) | |
Fair value changes | ||
Balance as of ending | $ (39,054) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant accounting policies [text block] [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 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, 2020 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$29,070.33 as of December 31, 2020 and Ch$28,309.94 as of December 31, 2019. In 2020, UF inflation was 2.7% 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, 2020, 2019 and 2018, 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 recognized directly in equity and attributed to owners of the Bank. In addition, third parties’ shares in the Bank’s consolidated equity are presented as “Non-controlling interests” in the Consolidated 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 Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2020 2019 2018 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander 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 50.10 - 50.10 - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 51.00 - 51.00 - - - Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. (4) Card operator Santiago, Chile 99.99 0.01 100.00 - - - - - - The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 24– Non-controlling interest. (1) On December 18, 2019, Santander Agente de Valores Limitada changed 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 is 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. (4) On July 6, 2020, Banco Santander registered as a new subsidiary and business support company named “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A”. 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 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 As of December 31, Place of 2020 2019 2018 Associates Main activity Incorporation and % % % operation Redbanc S.A. (*) ATM services Santiago, Chile - - 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - - 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 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. and Transbank S.A. therefore it has been classified in accordance to IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations” as investment available for sale. Otherwise its share participation in Nexus S.A., has been sold. See Note N°38. 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 performs transactions in foreign currencies, mainly in U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank and its subsidiaries are translated to Chilean pesos at the representative market exchange rate of the month for the reported period; the rate used was Ch$712.47 as of December 31, 2020 (Ch$747.37 per US$1 as of December 31, 2019). 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 (from January 1, 2018) Financial instruments must be classified and measured in accordance with IFRS 9 starting from January 1, 2018, 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 determines 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, i.e., 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 realize cash flows by collecting contractual payments over the life of the instrument, under this business model sales made when there is an increase in the credit risk, or to manage credit concentration risk are not inconsistent with a business model whose objective is to hold financial assets to collect contractual cash flows. ● Held to collect and sell (HTC&S) - financial assets under this business model achieve the objective by both collecting contractual cash flows and selling financial assets, then involve a greater frequency and value of sales than HTC business model. ● Other business model - financial assets held in this business has the objective of realizing cash flows through the sale of the assets. The Bank makes decisions based on the assets’ fair values and manages the assets to realize those fair values. ii) Classification of financial liabilities The Bank classified all financial liabilities as subsequently measured at amortized cost, except for derivatives that are liabilities, which are measured at fair value through profit or loss. iii) 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) Amortized cost Financial assets that are held in a business model to collect the contractual cash flows and contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at amortized cost. The effective interest method is used in the calculation of the amortized cost of a financial asset or a financial liability and in the allocation and recognition of the interest revenue or interest expense in profit or loss over the relevant period. The effective interest rate (EIR) is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial asset or financial liability to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. (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 recognized in other comprehensive income, until the assets are sold. Upon disposal, the cumulative gain and losses in OCI are recognized in the income statements. (c) Fair value through profit or loss (FVTPL) Financial assets that do not contain contractual terms that give rise on specified dates to cash flows that are SPPI, or if the financial assets, or if the financial asset is not held in a business model that is either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling. Financial assets held for trading are recognized at fair value through profit or loss, likewise derivatives contracts for trading purposes. (d) Equity instruments For certain equity instruments, the Bank may make an irrevocable election to present subsequent changes in the fair value of the instrument in other comprehensive income, except for dividend income which is recognized in profit or loss. Gains or losses on derecognition of these equity instruments are not transferred to profit or loss. iii) Subsequent measurement- financial liabilities After initial recognition, the Bank shall measure a financial liability at amortized cost. III. Derecognition of financial assets and liabilities Financial assets are derecognized when, and only when: ● the contractual rights to the cash flows from the financial asset expire, or ● the Bank transfers substantially all the risks and rewards of ownership of the financial asset, and therefore the Bank derecognizes the financial asset and recognize separately any rights and obligations created or retained in the transfer. In some cases, the Bank enters into transactions for which it retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows in an arrangement that meets all the conditions required, i.e. the Bank only transfers collected amounts from original assets, selling or pledging original assets is prohibited, and the Bank has the obligation to remit cash flows collected without material delay. When a financial asset is sold and the Bank simultaneously agrees to repurchase it (or an asset that is substantially the same) at a fixed price on a future date, the Bank continues to recognize the financial assets in their entirety in the statements of financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Financial liabilities are derecognized when, and only when, they are extinguished, cancelled or expired. 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, 2020 and 2019 the Bank does not have balance offsetting of financial instruments. h) Definitions and classification of financial instruments – under IAS 39 (prior to January 1, 2018) i. Definitions A “financial instrument” is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An “equity instrument” is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A “financial derivative” is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument’s price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. “Hybrid financial instruments” are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), ‘held to maturity investments’, ‘available for sale investments (AFS)’ and ‘loans and accounts receivable from customers. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognized and derecognized on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Effective interest method The effective interest method is a method of calculating the amortized 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 recognized 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 recognized in profit or loss. The net gain or loss recognized 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 amortized 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 recognized in profit or loss. Other changes in the carrying amount of available for sale investments are recognized 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 recognized 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 recognized in profit or loss are determined based on the amortized 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 ( |
Significant Events
Significant Events | 12 Months Ended |
Dec. 31, 2020 | |
Significant Events Explanatory [Abstract] | |
SIGNIFICANT EVENTS | SIGNIFICANT EVENTS As of December 31, 2020, the following significant events have occurred and affected the Bank’s operation and Consolidated Financial Statements. a) The Board On March 23, 2020, at the extraordinary session of the Board of Directors, the members agreed to amend the date of the Ordinary Shareholders’ Meeting originally scheduled for April 21, 2020 and set a new date for April 30, 2020, with the object of proposing a new profit distribution and payment of dividends, changing the 60% originally proposed to 30% of retained earnings as of December 31, 2019 (equivalent to $0.87891310 Chileans pesos per share), and propose that 30% of the earnings for the year 2019 will be classified as retained earnings, and the remaining 40% will be used to increase the Bank’s reserves. In accordance with Chilean laws, the Board of Directors of Banco Santander agreed, on the session held on October 21, 2020, to call an Extraordinary Shareholders’ Meeting for November 26, 2020 in order to discuss the proposed distribution of a dividend of $0.87891310 Chilean pesos per share, corresponding to 30% of the profits for the year 2019, which are classified as retained profits in the Bank’s equity, taking into account that, the ratio between the Bank’s regulatory capital and its risk-weighted assets reached 15.13%, and the ratio between basic capital and its risk-weighted assets was 10.70% as of September 30, 2020. b) Shareholders’ meeting At the extraordinary Shareholders’ Meeting of Banco Santander held on April 30, 2020, the members approved the Consolidated Financial Statements for 2019, and agreed to distribute 30% of the net profits for 2019 (“Net income attributable to shareholders of the Bank “), which amounted to $552,093 million, which correspond to a dividend of $0.87891310 Chilean pesos per share. Likewise, the members agreed to increase the Bank’s reserves by 40% and the remaining 30% will be classified as retained earnings from previous years. Board election: the members approved the election of Messrs. Alfonso Gómez, Claudio Melandri, Rodrigo Vergara, Félix de Vicente, Orlando Poblete, Juan Pedro Santa María, Ana Dorrego, Rodrigo Echenique and Lucía Santa Cruz, as Directors, and Blanca Bustamante and Oscar von Chrismar, as Alternate Directors, elected for a period of three years until the next renewal of the entire Board of Directors. Appointment of external auditors: the members approved PricewaterhouseCoopers Consultores Auditores SpA as external auditors for the 2020 financial year. At the Extraordinary Shareholders’ Meeting of Banco Santander held on November 26, 2020, the members agreed to distribute a dividend of $0.87891310 Chilean pesos per share, corresponding to 30% of the retained earnings for 2019, which was paid on the following banking business day after the meeting date. c) COVID-19 COVID-19 is a highly contagious infectious disease, which was first detected in Wuhan, China in December 2019. Subsequently, on March 11, 2020, the World Health Organization (WHO) declared it a pandemic. In Chile, on March 18, 2020, the President of the Republic decreed a state of national catastrophe to implement health and economic measures. Because of the pandemic, the economic activity and employment has been affected and hence the government and government entities and regulatory entities have implemented support measures to mitigate serious impact of the pandemic. On March 23, 2020, the FMC issued a package of measures aimed at granting greater flexibility to the financial system. In addition, the FMC asked for measures to facilitate the attention of customers and users and maintain adequate risk management policies and establish prudent dividend policy, given the situation. On April 9, 2020, the Central Bank of Chile (BCCh) announced new measures to support the operation of financial markets. On April 12, 2020 the government issued its first economic emergency plan, to protect families and employment, help our entrepreneurs, SMEs and businessmen through credit lines with government guarantees”.The largest measure was to provide additional funds to the Guarantee Fund for Small Companies (Fogape), a state fund that guarantees loans, leases and other credits provided to small businesses. The vaccination plan against COVID-19 began on December 24, 2020, with the first arrival of 9,750 doses of the vaccine from the Pfizer BioNtech laboratory. As of December 31, 2020, Chile had received 154,050 doses of the Pfizer BioNtech vaccine, for the vaccination plan in all regions of the country, and will receive more than 6.5 million doses of the AstraZeneca / Oxford vaccine during the first quarter of 2021 and more than 10 million of Coronavac vaccines, to continue the vaccination plan in its next stages. At the time of publication of these financial statements, 2,320,696 people have been vaccinated in Chile, which represents 13% of the population. During the first quarter of 2021, it is expected to vaccinate around 5 million people and reach 80% of the population, that is, approximately 15 million people, by the end of the first half of 2021. d) Laws and standards On February 24, 2020, the law that modernizes the tax system was published in the Official Gazette. This new regulation implies modifications to the Income Tax Law, to the Value-Added Tax (VAT) and to the Tax Code, among other aspects. On March 30, 2020, the FMC approved flexible deadlines for the Basel III implementation process. In coordination with Chilean Central Bank, decided to postpone for one more year the capital requirements implementation and keep the actual regulatory framework for banks’ capital requirements in effect until December 2021. In March 2020, the Chilean Central Bank announced the creation of two credit lines. The first line of credit is a facility available conditionally on loan growth (the “FCIC”) to ensure that banks continue to finance households and businesses in Chile, with maturities of up to 4 years. The second line of credit, the LCL, is unsecured and may have maturities of up to 2 years. See more details in Note N°17, letter a). On May 29, 2020, Law No. 21,234, which limits the legal responsibility of holders or users of payment cards and electronic transactions in the event of loss, theft, or fraud, was published. The law establishes that the issuer will always be responsible for the evidence related to operations that the user denies having authorized. Just the operations’ record will not necessarily be enough to demonstrate that these were authorized by the user, nor that the user acted with fault or carelessness attributable to them. The issuer must proceed to cancel the charges or restitute the funds within a period of 5 business days from the date of the claim if the amount is less than 35 UF or 7 additional days for higher amounts. Additionally, issuers are prohibited from offering insurance covering risks that must be assumed by the issuer in accordance with the new law. As a result of the new law’s application, the Bank has shown a decrease in its recurring income from commissions associated with insurance collection or selling and has proceeded to reduce the maintenance fees for its account plans. On June 9, 2020, the Law that regulates the financial portability of clients was published in the Official Gazette, and became effective 90 days after its publication (September 8, 2020). This Law’s main purpose is to facilitate the clients’ transfer between financial providers. The Bank adjusted its processes and controls to comply with the new Law. e) Subsidiaries On March 20, 2020, Klare Corredora de Seguros S.A. was notified by the FMC about its registration in the Insurance Trade Registry as a General and Life Insurance Broker. Currently the company operates under a 100% digital Insurance Broker modality. A Material Event published on July 6, 2020, Banco Santander Chile informed, prior authorization of the FMC through Resolution No. 3223 dated June 30 2020, that it had registered a new company named “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A.”, whose purpose is to conduct operations of credit, debit and prepaid cards in accordance with the Chilean Central Bank and the FMC regulations. This is a banking support and subsidiary company of Banco Santander with a 99.99% share participation (Santander Asesorias Financieras Limitada has a 0.01% share participation). A Material Event published on December 22, 2020, disclosed that “Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A.” called for an Extraordinary Shareholders’ Meeting for January 7, 2021. The purpose was to discuss the monetary contribution and the analysis and appraisal of the assets that shareholders will contribute, account for the operations in scope of Title XVI of Law 18,046, and other social interest agreements and granting powers to comply with the resolutions reached in this meeting. On December 30, 2020, Banco Santander-Chile, made a capital contribution to “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A.”. f) Bods issued at December 31, 2020 f.1 Senior bonds As of December 31, 2020 the Bank has issued senior bonds for an amount of USD742,500,000. The debt issuance information is included in Note 18. Series Currency Term Issuance Issuance Amount Maturity Bonos USD USD 5 years 2.70% 01-07-2020 750,000,000 01-07-2025 Total USD 750,000,000 f.2 Subordinated bonds As at December 31, 2020 the Bank has issued subordinated bonds for an amount of USD200,000,000 and UF5,000,000. The debt issuance information is included in Note 18. Series Currency Term Issuance rate (annual) Issuance Amount Maturity Bonos USD USD 10 years 3.79% 01-21-2020 200,000,000 01-21-2030 Total USD 200,000,000 USTDW20320 UF 15 years and 3 months 3.50% 03-01-2020 5,000,000 09-01-2035 Total UF 5,000,000 |
Reporting Segments
Reporting Segments | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of entity's operating segments [text block] [Abstract] | |
REPORTING SEGMENTS | 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. Corporate & Investment Banking (CIB) 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, 2020, 2019 and 2018 in addition to the corresponding balances of loans and accounts receivable from customers: For the year ended December 31, 2020 Loans and Net interest income Net fee and commission income Financial transactions, Expected Support expenses (3) Segment’s MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 24,279,248 1,049,543 213,431 28,577 (317,050) (596,464) 378,038 Middle-market 8,136,402 346,225 38,335 21,859 (109,999) (91,132) 205,287 CIB 1,635,217 114,229 23,180 82,303 (51,097) (72,715) 95,900 Other 289,026 83,851 (7,668) 17,058 (118) (8,235) 84,888 Total 34,339,893 1,593,848 267,278 149,797 (478,264) (768,546) 764,113 Other operating income 8,206 Other operating expenses and impairment (78,444) Income from investments in associates and other companies 1,388 Income tax expense (142,533) Result of continuing operations 552,730 Result of discontinued operations - Net income for the year 552,730 (1) Corresponds to loans and accounts receivable at amortized 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, 2019 Loans and accounts receivable at amortized cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected 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) 363,934 Middle-market 8,093,496 298,587 38,712 13,535 (38,746) (97,054) 215,034 CIB 1,603,633 98,154 29,103 94,761 223 (65,343) 156,898 Other 48,009 59,862 (11,356) 64,970 (4,819) (11,953) 96,704 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 amortized 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 amortized cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected 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 CIB 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 at amortized 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. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2020 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS a) The detail of the balances included under cash and cash equivalents is as follows: As of December 31, 2020 2019 Cash and deposits in banks Cash 665,397 861,178 Deposits at the Central Bank of Chile 1,313,394 1,731,079 Deposits in local banks 1,571 948 Deposits in banks abroad 822,926 961,315 Subtotals – Cash and deposits in banks 2,803,288 3,554,520 Net cash items in process of collection 91,332 156,814 Cash and cash equivalents 2,894,620 3,711,334 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, 2020 2019 Assets Documents held by other banks (documents to be cleared) 137,396 217,394 Funds receivable 315,567 137,668 Subtotal 452,963 355,062 Liabilities Funds payable 361,631 198,248 Subtotal 361,631 198,248 Cash in process of collection, net 91,332 156,814 |
Financial Assets Held for Tradi
Financial Assets Held for Trading | 12 Months Ended |
Dec. 31, 2020 | |
Financial Assets Held For Trading Trading Investments Explanatory [Abstract] | |
FINANCIAL ASSETS HELD FOR TRADING | FINANCIAL ASSETS HELD FOR TRADING The detail of instruments deemed as financial trading investments is as follows: As of December 31, 2020 2019 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 419 1,952 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 131,827 268,252 Subtotal 132,246 270,204 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds 1,472 - Other Chilean securities - - Subtotal 1,472 - Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - - Subtotal - Investments in mutual funds Funds managed by related entities - - Funds managed by others - - Subtotal - - Total 133,718 270,204 As of December 31, 2020 and 2019, 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, 2020 | |
Disclosure of repurchase and reverse repurchase agreements [text block] [Abstract] | |
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS | INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS a) As of December 31, 2020 and 2019, 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, 2020 and 2019, obligations related to instruments sold under repurchase agreements are as follows: As of December 31, 2020 2019 From 1 day More than 3 More than Total From 1 day More than 3 More Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - - - - - Chilean Central Bank Notes 461.961 - - 461.961 - - - - Other securities from the Government and the Chilean Central Bank 507.448 - - 507.448 379,891 33 - 379,924 Subtotal 969.409 - - 969.409 379,891 33 - 379,924 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 399 - - 399 127 4 - 131 Subtotal 399 - - 399 127 4 - 131 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - - - Subtotal - - - - Total 969,808 - - 969,808 380,018 37 - 380,055 c) Below is the detail by portfolio of collateral associated with repurchase agreements as of December 31, 2020 and 2019, valued at fair value: As of December 31, 2020 2019 Debt Financial Total Debt Financial Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - - - - Chilean Central Bank Notes 461,965 - 461,965 - - - Other securities from the Government and the Chilean Central Bank 507,543 - 507,543 379,924 - 379,924 Subtotal 969,508 - 969,508 379,924 - 379,924 Other Chilean securities: Time deposits in Chilean financial institutions 399 - 399 131 - 131 Subtotal 399 - 399 131 - 131 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - Subtotal - - - - - - Total 969,907 969,907 380,055 - 380,055 |
Derivative Financial Instrument
Derivative Financial Instruments and Hedge Accounting | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of derivative financial instruments [text block] [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING a) As of December 31, 2020 and 2019 the Bank holds the following portfolio of derivative instruments: As of December 31, 2020 Notional amount Fair value Up to 3 More than 3 More than Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 50,000 410,687 5,064,113 5,524,800 33,816 83,666 Cross currency swaps 317,400 601,987 5,634,700 6,554,087 294,562 178,529 Subtotal 367,400 1,012,674 10,698,813 12,078,887 328,378 262,195 Cash flow hedge derivatives Currency forwards 2,121,326 503,280 601,582 3,226,188 2,985 3,556 Cross currency swaps 424,358 498,373 9,777,491 10,700,222 35,902 183,386 Subtotal 2,545,684 1,001,653 10,379,073 13,926,410 38,887 186,942 Trading derivatives Currency forwards 22,729,787 12,175,074 8,215,576 43,120,437 1,085,327 1,158,904 Interest rate swaps 14,006,503 22,118,742 97,803,009 133,928,254 3,651,651 3,588,912 Cross currency swaps 6,719,065 15,138,056 138,352,345 160,209,466 3,921,440 3,819,446 Call currency options 129,339 31,641 57,581 218,561 1,527 909 Put currency options 112,145 16,173 58,276 186,594 4,875 1,352 Subtotal 43,696,839 49,479,686 244,486,787 337,663,312 8,664,820 8,569,523 Total 46,609,923 51,494,013 265,564,673 363,668,609 9,032,085 9,018,660 As of December 31, 2019 Notional amount Fair value Up to 3 More than 3 More than 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 b) Micro-hedge accounting Fair value micro-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. Those 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, 2020 and 2019, classified by term to maturity: As of December 31, 2020 Within 1 year Between 1 and Between 3 and Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Debt instruments at FVOCI Chilean sovereign bonds 10,687 10,687 138,044 249,440 408,858 Mortgage financing bonds - 918 - - 918 US Treasury bonds - - 178,118 - 178,118 Time deposits and other time liabilities Time deposits 58,238 58,217 - - 116,455 Issued debt instruments Senior bonds 88,023 801,349 2,112,831 1,220,521 4,222,724 Subordinated bonds - - 249,363 142,494 391,857 Interbank borrowing Chilean Central Bank loans - - 3,865,000 - 3,865,000 Total 156,948 871,171 6,543,356 1,612,455 9,183,930 Hedging instrument Cross currency swaps 96,261 835,484 2,056,864 1,220,521 4,209,130 Interest rate swaps 60,687 35,687 4,486,492 391,934 4,974,800 Total 156,948 871,171 6,543,356 1,612,455 9,183,930 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 Debt instruments at FVOCI Chilean sovereign bonds - - 5,605 394,690 400,295 Mortgage financing bonds - 2,728 - - 2,728 US 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 3,324,100 7,363,371 Total 1,336,940 1,962,401 2,634,486 3,756,158 9,689,985 Hedging instrument Cross currency swaps 637,692 1,602,401 2,229,407 3,324,099 7,793,599 Interest rate swaps 699,248 360,000 405,079 432,059 1,896,386 Total 1,336,940 1,962,401 2,634,486 3,756,158 9,689,985 Cash flow micro-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 interest rate. The inflation risk that arises in some items is covered by both forwards as well as cross currency swaps. Below is the notional amount of the hedged items as of December 31, 2020 and 2019, and the period when the cash flows will be generated: As of December 31, 2020 Within 1 Between 1 and Between 3 and Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortized cost Mortgage loans 1,926,918 2,520,951 2,761,742 2,084,180 9,293,791 Debt instruments at FVOCI Chilean sovereign bonds - - 42,532 - 42,532 Chilean Treasury bonds - 175,875 891,791 196,428 1,264,094 Issued debt instruments Senior bonds (variable rate) 167,430 - - - 167,430 Senior bonds (fixed rate) 1,125,253 610,385 643,700 415,865 2,795,203 Interbank borrowings Interbank loans 327,736 35,624 - - 363,360 Total 3,547,337 3,342,835 4,339,765 2,696,473 13,926,410 Hedging instrument Cross currency swaps 922,731 2,741,253 4,339,765 2,696,473 10,700,222 Currency forwards 2,624,606 601,582 - - 3,226,188 Total 3,547,337 3,342,835 4,339,765 2,696,473 13,926,410 As of December 31, 2019 Within 1 Between 1 and Between 3 and Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortized 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 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, 2020 Within 1 Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 18,219 2,284 2,512 - 23,015 Outflows (90,303) (123,604) (104,198) (83,397) (401,502) Net flows (72,084) (121,320) (101,686) (83,397) (378,487) Hedging instrument Inflows 90,303 123,604 104,198 83,397 401,502 Outflows (*) (18,219) (2,284) (2,512) - (23,015) Net flows 72,084 121,320 101,686 83,397 378,487 (*) Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2019 Within 1 year Between 1 and 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. b.2 Forecasted cash flows for inflation risk: As of December 31, 2020 Within 1 year Between 1 and Between 3 and Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 114,734 257,698 457,046 406,499 1,235,977 Outflows (32,238) (19,702) (55,388) (26,993) (134,321) Net flows 82,496 237,996 401,658 379,506 1,101,656 Hedging instrument Inflows 32,238 19,702 55,388 26,993 134,321 Outflows (114,734) (257,698) (457,046) (406,499) (1,235,977) Net flows (82,496) (237,996) (401,658) (379,506) (1,101,656) As of December 31, 2019 Within Between 1 and Between 3 and Over 6 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) b.3 Forecasted cash flows for exchange rate risk: As of December 31, 2020 and 2019 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 generated by hedge instruments used in hedged cash flow was recorded in the Consolidated Statements of Changes in Equity, within Other comprehensive income, as of December 31, 2020 and 2019, is as follows: As of December 31, Hedged item 2020 2019 MCh$ MCh$ Interbank loans (962) (1,872) Issued debt instruments (6,990) (16,345) Debt instruments at FVOCI (25,833) (2,905) Loans and accounts receivable at amortized cost (102,980) (19,313) Total (136,765) (40,435) 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 fluctuations of fair value attributable to risk components are almost completely offset. During the current 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, 2020 2019 2018 MCh$ MCh$ MCh$ Bond hedging derivatives (3,149) (120) - Interbank loans hedging derivatives 1 (955) (683) Cash flow hedge net gain (loss) (3,148) (1,075) (683) See Note 23 - Equity, letter e) e) Net investment hedges in foreign operations As of December 31, 2020 and 2019, the Bank does not have any foreign net investment hedges nor hedge accounting. f) Fair value macro-hedges Notional amount As of December 31, 2020 Within 1 Between Between 3 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortized cost Mortgage loans 823,126 786,352 - 735,479 2,344,957 Commercial loans 400,000 150,000 - - 550,000 Total 1,223,126 936,352 - 735,479 2,894,957 Hedging instrument Cross currency swaps 823,126 786,352 - 735,479 2,344,957 Interest rate swaps 400,000 150,000 - - 550,000 Total 1,223,126 936,352 - 735,479 2,894,957 Notional amount As of December 31, 2019 Within 1 Between Between 3 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortized cost Mortgage loans 633,300 1,189,037 1,545,239 3,466,875 6,834,451 Commercial loans - 600,000 50,000 - 650,000 Total 633,300 1,789,037 1,595,239 3,466,875 7,484,451 Hedging instrument Cross currency swaps 633,300 1,189,037 1,545,239 3,466,875 6,834,451 Interest rate swaps - 600,000 50,000 - 650,000 Total 633,300 1,789,037 1,595,239 3,466,875 7,484,451 As of December 31, 2020 and 2019, Other Assets include MCh$327,938 and MCh$210,867 respectively, related to fair value measurement of net assets or liabilities subject to macrohedges. See Note 15. |
Loans and Accounts Receivable a
Loans and Accounts Receivable at Amortized Cost | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of loans and advances to customers [text block] [Abstract] | |
LOANS AND ACCOUNTS RECEIVABLE AT AMORTIZED COST | LOANS AND ACCOUNTS RECEIVABLE AT AMORTIZED COST As of December 31, 2020 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance (*) As of December 31, 2020 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 18,930 - - 18,930 1 - - 1 18,929 Commercial loans 11,453,377 1,285,770 751,471 13,490,618 60,987 87,295 349,864 498,146 12,992,472 Foreign trade loans 979,014 221,074 39,183 1,239,271 5,323 2,786 33,152 41,261 1,198,010 Checking accounts debtors 92,789 21,315 11,506 125,610 1,253 1,524 8,825 11,602 114,008 Factoring transactions 486,587 7,207 3,885 497,679 1,397 387 2,345 4,129 493,550 Student loans 49,768 4,905 8,707 63,380 1,551 714 6,533 8,798 54,582 Leasing transactions 1.015.298 267.062 72.797 1.355.157 7,377 14,934 37,376 59,687 1,295,470 Other loans and account receivable 163.035 10.973 22.536 196.544 2,643 2,127 16,678 21,448 175,096 Subtotal 14.258.798 1.818.306 910.085 16.987.189 80,532 109,767 454,773 645,072 16,342,117 Mortgage loans Loans with mortgage finance bonds 6,859 546 404 7,809 16 11 57 84 7,725 Endorsable mortgage mutual loans 86,786 2,463 3,711 92,960 221 63 474 758 92,202 Other mortgage mutual loans 11,424,718 389,363 496,975 12,311,056 24,828 8,367 78,485 111,680 12,199,376 Subtotal 11,518,363 392,372 501,090 12,411,825 25,065 8,441 79,016 112,522 12,299,303 Consumer loans Installment consumer loans 3,221,617 211,348 255,627 3,688,592 76,140 26,737 152,639 255,516 3,433,076 Credit card balances 1,097,680 20,380 7,848 1,125,908 10,781 4,141 5,037 19,959 1,105,949 Leasing transactions 2,956 139 26 3,121 29 22 16 67 3,054 Other consumer loans 116,910 4,728 1,620 123,258 1,875 832 950 3,657 119,601 Subtotal 4,439,163 236,595 265,121 4,940,879 88,825 31,732 158,642 279,199 4,661,680 Total 30,216,324 2,447,273 1,676,296 34,339,893 194,422 149,940 692,431 1,036,793 33,303,100 (*) Include overlays for an amount of MCh$59,000. See Note 37. As of December 31, 2019 the composition of the loan portfolio is as follows: Assets before allowances ECL allowance As of December 31, 2019 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net MCh$ 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 24,897 218,328 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 a. Commercial loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2020, is as follows: Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at 10,208,264 3,594,359 1,004,967 240,100 401,007 413,628 15,862,325 Transfers: Transfers from stage 1 to stage 2 (1,355,492) (277,926) 1,355,492 277,926 - - - Transfers from stage 1 to stage 3 (2,492) (52,304) - - 2,492 52,304 - Transfers from stage 2 to stage 3 - - (198,124) (163,049) 198,124 163,049 - Transfers from stage 2 to stage 1 239,349 162,768 (239,349) (162,768) - - - Transfers from stage 3 to stage 2 - - 4,022 117,446 (4,022) (117,446) - Transfers from stage 3 to stage 1 - 138 - - - (138) - Net changes of financial assets 676,413 1,056,882 (337,291) (80,505) (537) (29,882) 1,285,080 Write-off - - - - (66,989) (101,548) (168,537) FX and other adjustments (1,243) 10,082 (2) (559) (9) 52 8,321 At December 31, 2020 9,764,799 4,493,999 1,589,715 228,591 530,066 380,019 16,987,189 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 21,539 35,888 30,389 25,555 196,165 197,033 506,569 Transfers Transfers to stage 2 (23,652) (16,137) 50,253 48,464 - - 58,928 Transfers to stage 3 (9) (3,007) - - 1,089 22,152 20,225 Transfers to stage 3 - - (25,214) (29,540) 73,885 55,645 74,776 Transfers to stage 1 2,919 4,921 (9,322) (20,605) - - (22,087) Transfers to stage 2 - - 943 4,424 (1,560) (22,995) (19,188) Transfers to stage 1 - 5 - - - (45) (40) Net changes of the exposure and modifications in credit risk 39,971 19,264 18,462 15,122 58,915 41,860 193,594 Write-off - - - - (66,989) (100,393) (167,382) FX and other adjustments (1,179) 9 (59) 895 - 11 (323) At December 31, 2020 39,589 40,943 65,452 44,315 261,505 193,268 645,072 An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follows: Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective 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 from stage 1 to stage 2 (518,990) (347,678) 518,990 347,678 - - - Transfers from stage 1 to stage 3 - (41,696) - - - 41,696 - Transfers from stage 2 to stage 3 - - (132,136) (230,125) 132,136 230,125 - Transfers from stage 2 to stage 1 158,935 159,009 (158,935) (159,009) - - - Transfers from stage 3 to stage 2 - - 11,229 120,293 (11,229) (120,293) - Transfers from stage 3 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) FX and other adjustments 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 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective 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) FX and other adjustments 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. b. Mortgage loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2020, is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 10,275,966 457,948 529,081 11,262,995 Transfers: Transfers from stage 1 to stage 2 (248,167) 248,167 - - Transfers from stage 1 to stage 3 (53,621) - 53,621 - Transfers from stage 2 to stage 3 - (215,547) 215,547 - Transfers from stage 2 to stage 1 321,954 (321,954) - - Transfers from stage 3 to stage 2 - 248,635 (248,635) - Transfers from stage 3 to stage 1 463 - (463) - Net changes of financial assets 1,221,898 (25,440) (22,147) 1,174,311 Write-off - - (25,831) (25,831) FX and other adjustments (130) 563 (83) 350 At December 31, 2020 11,518,363 392,372 501,090 12,411,825 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 8,446 14,509 78,104 101,059 Transfers Transfers from stage 1 to stage 2 (5,250) 12,502 - 7,252 Transfers from stage 1 to stage 3 (472) - 4,548 4,076 Transfers from stage 2 to stage 3 - (8,923) 20,034 11,111 Transfers from stage 2 to stage 1 3,187 (13,912) - (10,725) Transfers from stage 3 to stage 2 - 7,033 (28,146) (21,113) Transfers from stage 3 to stage 1 2 - (37) (35) Net changes of the exposure and modifications in credit risk 19,162 (2,791) 30,352 46,723 Write-off - - (25,831) (25,831) FX and other adjustments (10) 23 (8) 5 At December 31, 2020 25,065 8,441 79,016 112,522 An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 9,258,962 447,496 444,523 10,150,981 Transfers: Transfers from stage 1 to stage 2 (481,646) 481,646 - - Transfers from stage 1 to stage 3 (60,329) - 60,329 - Transfers from stage 2 to stage 3 - (333,706) 333,706 - Transfers from stage 2 to stage 1 361,293 (361,293) - - Transfers from stage 3 to stage 2 - 250,896 (250,896) - Transfers from stage 3 to stage 1 2,338 - (2,338) - Net changes of financial assets 1,131,941 (35,200) (24,539) 1,072,202 Write-off - - (34,184) (34,184) FX and other adjustments 63,407 8,109 2,480 73,996 At December 31, 2019 10,275,966 457,948 529,081 11,262,995 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 9,006 15,102 67,162 91,270 Transfers Transfers from stage 1 to stage 2 (3,318) 20,509 - 17,191 Transfers from stage 1 to stage 3 (311) - 5,994 5,683 Transfers from stage 2 to stage 3 - (12,598) 31,654 19,056 Transfers from stage 2 to stage 1 1,374 (13,849) - (12,475) Transfers from stage 3 to stage 2 - 8,341 (29,303) (20,962) Transfers from stage 3 to stage 1 6 - (193) (187) Net changes of the exposure and modifications in credit risk 1,655 (3,054) 32,561 31,162 Write-off - - (34,184) (34,184) FX and other adjustments 34 58 4,413 4,505 At December 31, 2019 8,446 14,509 78,104 101,059 c. Consumer loans An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2020, is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 4,963,047 292,718 290,430 5,546,195 Transfers: Transfers from stage 1 to stage 2 (410,942) 410,942 - - Transfers from stage 1 to stage 3 (16,962) - 16,962 - Transfers from stage 2 to stage 3 - (223,169) 223,169 - Transfers from stage 2 to stage 1 238,800 (238,800) - - Transfers from stage 3 to stage 2 - 57,574 (57,574) - Transfers from stage 3 to stage 1 2,225 - (2,225) - Net changes of financial assets (337,006) (62,658) 13,765 (385,899) Write-off - - (219,402) (219,402) FX and other adjustments 1 (12) (4) (15) At December 31, 2020 4,439,163 236,595 265,121 4,940,879 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 67,396 50,808 170,263 288,467 Transfers: Transfers from stage 1 to stage 2 (36,422) 95,850 - 59,428 Transfers from stage 1 to stage 3 (1,484) - 9,061 7,577 Transfers from stage 2 to stage 3 - (75,229) 108,792 33,563 Transfers from stage 2 to stage 1 13,589 (41,928) - (28,339) Transfers from stage 3 to stage 2 - 10,162 (28,649) (18,487) Transfers from stage 3 to stage 1 254 - (865) (611) Net changes of the exposure and 45,492 (7,926) 104,328 141,894 Write-off - - (204,286) (204,286) FX and other adjustments - (5) (2) (7) At December 31, 2019 88,825 31,732 158,642 279,199 An analysis of changes in the gross carrying amount and the corresponding ECL allowance as of December 31, 2019, is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 4,727,464 295,132 300,193 5,322,789 Transfers: Transfers from stage 1 to stage 2 (358,403) 358,403 - - Transfers from stage 1 to stage 3 (25,210) - 25,210 - Transfers from stage 2 to stage 3 - (248,494) 248,494 - Transfers from stage 2 to stage 1 130,611 (130,611) - - Transfers from stage 3 to stage 2 - 56,489 (56,489) - Transfers from stage 3 to stage 1 514 - (514) - Net changes of financial assets 430,777 (45,093) (3,605) 382,079 Write-off - - (223,919) (223,919) FX and other adjustments 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 TOTAL Collective Collective Collective 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) FX and other adjustments (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. For 2020, there were no changes in forward-looking variables. However, on April 2020, the Bank completed a calibration of parameters, in accordance with internal policies, resulting in an increase of MCh$2,066 within the expected credit losses allowance. For 2019, there were no changes to the assumptions used within the model. However, the Bank completed an update of the 2018 forward-looking assessment, resulting in an increase of MCh$6,998 within the provision for loan losses. |
Loans and Accounts Receivable_2
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income [Abstract] | |
LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME The Bank has decided to classify a portfolio at fair value through other comprehensive income (FVOCI) related to loans and account receivable with its major customer, when they request a credit operation which exceeds single client exposure under the Bank’s credit risk policy. The risk committee approved the operation with the condition to sell a portion of the loan in the medium term, and meanwhile the Bank is looking for a buyer the portion is classified into this category. Additionally, the Bank includes operations which are expecting to sell or maintain, depending if market conditions are favorable, these loans are classified into this category according to management business model. This portfolio is initially measured at amortized cost and afterward is adjusted at fair value, recognizing the adjustment in other comprehensive income, while the Bank do not sell the loan. The portfolio is assessed for impairment loss under the new ECL model, same as loans at amortized cost. An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as of December 31, 2020 is as follows: Stage1 Stage2 Stage3 TOTAL Individual Individual Individual MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 66,166 - - 66,166 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes on financial assets 3,857 - - 3,857 Write-off - - - - FX and other adjustments 662 - - 662 At December 31, 2020 70,685 - - 70,685 Stage 1 Stage 2 Stage 3 TOTAL Individual Individual Individual MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 101 - - 101 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 1,252 - - 1,252 Write-off - - - - FX and other adjustments 1 - - 1 At December 31, 2020 1,354 1,354 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 TOTAL Individual Individual Individual 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 - - - - FX and other adjustments 993 (35) - 958 At December 31, 2019 66,166 - - 66,166 Stage 1 Stage 2 Stage 3 TOTAL Individual Individual Individual 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 65 (18) - 47 Write-off - - - - FX and other adjustments (52) - - (52) At December 31, 2019 101 - - 101 |
Debt Instruments at Fair Value
Debt Instruments at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of available-for-sale financial assets [text block] [Abstract] | |
DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME As of December 31, 2020 and 2019 detail of debt instruments is as follows: As of December 31, 2020 2019 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds - 272,802 Chilean central bank notes 1,008,450 1,186,724 Other Chilean central bank and government securities (*) 5,344,910 1,908,031 Subtotal 6,353,360 3,367,557 of which sold under repurchase agreement 969,508 379,294 Other Chilean securities Time deposits in Chilean financial institutions 492 398 Mortgage finance bonds of Chilean financial institutions 14,022 16,748 Other instruments issued in the country 2,217 2,410 Subtotal 16,731 19,556 of which sold under repurchase agreement 399 131 Foreign financial securities Foreign Central Banks and Government securities 269,803 197,685 Other foreign financial securities 522,648 425,474 Subtotal 792,451 623,159 of which sold under repurchase agreement - - Total 7,162,542 4,010,272 (*) Includes Treasury bonds in Chilean pesos and UF. The Bank holds instruments, belonging to “Chilean central bank and government securities”, which guarantee derivatives transactions through Comder Contraparte Central S,A, in the local market as of December 31, 2020 and 2019 for an amount of Ch$158,600 and Ch$65,140, while “Foreign financial securities” guarantee derivatives transactions through London Clearing House (LCH) as of December 31, 2020 and 2019 Ch$67,685 and Ch$73,109. Additionally, the Bank maintains guarantees with Euroclear as of December 31, 2020 and 2019 Ch$258,183 and Ch$390,954 to comply with the initial margin required by European EMIR standard. As of December 31, 2020 debt instruments at FVOCI included a cumulative net unrealized income of MCh$102,855, recorded as “valuation adjustment” in OCI, of which MCh$101,696 is attributable to shareholders equity and MCh$1,159 to non-controlling interest. As of December 31, 2019 debt instruments at FVOCI included a cumulative net unrealized income of MCh$29,184, recorded as “valuation adjustment” in OCI, of which MCh$28,135 are attributable to shareholders equity and MCh$1,049 to non-controlling interest. An analysis of changes in the fair value and the corresponding ECL as of December 31, 2020 is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective Gross carrying amount at January 1, 2020 4,010,272 - - 4,010,272 New assets purchased 14,708,776 - - 14,708,776 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognized or matured (excluding write-off) (11,440,253) - - (11,440,253) Changes due to modifications not derecognized 100,401 - - 100,401 Other adjustments (216,654) - - (216,654) At December 31, 2020 7,162,542 - - 7,162,542 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective ECL at January 1, 2020 456 - - 456 New assets purchased 1,965 - - 1,965 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognized or matured (excluding write-off) (1,501) - - (1,501) Changes due to modifications not derecognized 219 - - 219 Write-off - - - - Other adjustments (1) - - (1) At December 31, 2020 1,138 - - 1,138 An analysis of changes in the fair value and the corresponding ECL as of December 31, 2019 is as follows: Stage1 Stage2 Stage3 TOTAL Collective Collective Collective 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 derecognized or matured (excluding write-off) (5,694,456) (5,694,456) Changes due to modifications not derecognized 394,648 - - 2,273,857 Write-off - - - - Other adjustments (657,908) - - (657,908) At December 31, 2019 4,010,272 - - 4,010,272 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective 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 derecognized or matured (excluding write-off) (614) - - (614) Changes due to modifications not derecognized 67 - - 67 Write-off - - - - Other adjustments (71) - - (71) At December 31, 2019 456 - - 456 Gross profits and losses realized on the sale of available for sale investments as of December 31, 2020, 2019 and 2018 is as follows: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 3,696,791 5,781,636 3,505,266 Realized profits 82,925 63,828 8,802 Sale of available for sale investments generating realized losses 379,046 607,349 709,371 Realized losses 2,246 156 6,004 The Bank evaluated those instruments with unrealized losses as of December 31, 2020 and 2019 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, 2020 and 2019, 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, 2020: Less than 12 months More than 12 months Total Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds - - - - - - - - - - - - Chilean central bank notes 1,008,450 1,008,450 - - - - - - 1,008,450 1,008,450 - - Other Chilean central bank and government securities 5,288,189 5,344,910 96,180 (36,739) - - - - 5,288,189 5,344,910 96,180 (36,739) Subtotal 6,296,639 6,353,360 96,180 (36,739) - - - - 6,296,639 6,353,360 96,180 (36,739) Other Chilean securities Time deposits in Chilean financial institutions 299 299 - - - - - - 299 299 - - Mortgage finance bonds of Chilean financial institutions 13,293 14,022 729 - - - - - 13,293 14,022 729 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 305 2,410 2,105 - - - - - 305 2,410 2,105 - Subtotal 13,897 16,731 2,834 - - - - - 13,897 16,731 2,834 - Foreign financial securities Foreign central banks and government securities 269,477 269,803 20,267 (19,941) - - - - 269,477 269,803 20,267 (19,941) Other foreign financial securities 482,394 522,648 40,254 - - - - - 482,394 522,648 40,254 - Subtotal 751,871 792,451 60,521 (19,941) - - - - 751,871 792,451 60,521 (19,941) Total 7,062,407 7,162,542 159,535 (56,680) - - - - 7,062,407 7,162,542 159,535 (56,680) 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 cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 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) |
Investments in Associates and o
Investments in Associates and other Companies | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of interests in other entities [text block] [Abstract] | |
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES | INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES a) Investments in associates and other, are shown in the following table: Investment Ownership interest As of December 31, Carrying value As of December 31, Profit and loss As of December 31, 2020 % 2019 % 2018 % 2020 MCh$ 2019 MCh$ 2018 MCh$ 2020 MCh$ 2019 MCh$ 2018 MCh$ Redbanc S.A. (*) - - 33,43 - - 2,822 - - - Transbank S.A. (*) - - 25,00 - - 17,651 - - - Centro de Compensación Automatizado S.A. 33,33 33,33 33,33 2,788 2,184 1,894 603 293 305 Sociedad Interbancaria de Depósito de Valores S.A. 29,29 29,29 29,29 1,633 1,485 1,233 302 252 223 Cámara de Compensación de Alto Valor S.A. 15,00 15,00 15,00 971 958 945 28 29 58 Administrador Financiero del Transantiago S.A. 20,00 20,00 20,00 3,476 3,986 3,680 337 390 582 Sociedad Nexus S.A. (*) - - 12,90 - - 2,279 - - - Servicios de Infraestructura de Mercado OTC S.A. 12,07 12,07 12,48 1,528 1,556 1,491 (24) 60 57 Subtotal 10,396 10,169 31,995 1,246 1,024 1,225 Shares or rights in other companies Bladex - - - - 13 19 Stock Exchanges - - - 142 109 148 Others - 8 8 - - (67) Total 10,396 10,177 32,003 1,388 1,146 1,325 (*) 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 38. As described in Note 1 g), the Bank has irrevocably designated its participation in Bladex and Stock exchanges at fair value through other comprehensive income (FVOCI). Related dividends are recognized 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, 2020 2019 MCh$ MCh$ Bladex 310 328 Stock exchange 228 154 Others 10 - Total 548 482 b) Summary of financial information of associates as of and for the years ended December 31, 2020, 2019 and 2018: As of December 31, 2020 2019 2018 Net income Net income Net income Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Redbanc S.A. - - - - 23,413 14,106 8,441 866 20,825 12,469 7,505 851 Transbank S.A. - - - - 1,217,448 1,133,441 70,605 13,402 904,558 835,200 56,888 12,470 Centro de Compensación Automatizado S.A. 11,134 2,953 6,371 1,810 8,550 1,998 5,671 881 7,073 1,480 4,677 916 Sociedad Interbancaria de Depósito de Valores S.A. 5,840 314 4,496 1,030 5,074 4 4,209 861 4,392 230 3,400 762 Cámara de Compensación de Alto Valor S.A. 7,158 722 6,246 190 7,372 986 6,193 193 6,728 622 5,722 384 Administrador Financiero del Transantiago S.A. 49,841 30,670 17,227 1,944 54,712 34,787 17,978 1,947 55,818 37,419 15,490 2,909 Sociedad Nexus S.A. - - - - 31,147 13,471 17,660 16 35,139 18,335 13,955 2,849 Servicios de Infraestructura de Mercado OTC S.A. 14,480 2,232 12,441 (193) 15,152 2,682 11,993 477 25,273 13,313 11,506 454 Total 88,453 36,891 46,781 4,781 1,362,868 1,201,475 142,750 18,643 1,059,806 919,068 119,143 21,595 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 in 2020, 2019 and 2018 is as follows: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Opening balance as of January 1, 10,177 32,003 27,585 Acquisition of investments - - Sale of investments (20) - - Participation in income 1,388 1,146 1,325 Dividends received (508) (130) (38) Other adjustments (*) (641) (22,842) 3,131 Total 10,396 10,177 32,003 (*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, Thus, these investments have been reclassified to held for sale and presented under Other assets in the Consolidated Statement of Financial Position. As of December 31, 2020, only Nexus has been sold. Additionally, includes MTM over equity share investment of our subsidiaries. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of intangible assets [text block] [Abstract] | |
INTANGIBLE ASSETS | INTANGIBLE ASSETS a. As of December 31, 2020 and 2019, the composition of intangible assets is as follows: As of December 31, 2020 Average remaining useful life Net opening balance as of January 1, 2020 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses - - 35,997 (35,997) - Software development 2 73,389 248,537 (166,000) 82,537 Total 73,389 284,534 (201,997) 82,537 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 , b. The changes in the value of intangible assets during the periods ended December 31, 2020 and December 31, 2019 is as follows: b.1 Gross balance Gross balances Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 35,997 214,005 250,002 Acquisitions - 35,170 35,170 Disposals and impairment - (638) (638) Other - - - Balances as of December 31, 2020 35,997 248,537 284,534 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 b.2 Accumulated amortization Accumulated amortization Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 (35,997) (140,616) (176,613) Year’s amortization - (25,384) (25,384) Other changes - - - Balances as of December 31, 2020 (35,997) (166,000) 201,997 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) c. The Bank has no restriction on intangible assets as of December 31, 2020 and 2019. 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, 2020 | |
Disclosure of quantitative information about leases for lessee [abstract] | |
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, 2020 and 2019, the composition of property, plant, and equipment balances are composed as follows: As of December 31, 2020 Net opening balance as of January 1, 2020 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 173,061 308,499 (140,805) 167,694 Equipment 55,494 243,084 (190,636) 52,448 Other 22,206 75,159 (54,447) 20,712 Total 250,761 626,742 (385,888) 240,854 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 174,758 302,405 (129,344) 173,061 Equipment 56,865 219,600 (164,106) 55,494 Other 21,963 69,758 (47,552) 22,206 Total 253,586 591,763 (341,002) 250,761 b. The changes in the value of property, plant, and equipment as of December 31, 2020 and 2019 is as follows: b.1 Gross balance 2020 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 302,405 219,600 69,758 591,763 Additions 17,790 25,233 7,500 50,523 Disposals (11,696) (1,749) (2,099) (15,544) Impairment due to damage (*) - - - - Other - - - - Balances as of December 31, 2020 308,499 243,084 75,159 626,742 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 16,486 33,302 7,602 57,390 Disposals (2,636) (6,030) - (8,666) Impairment due to damage (1,013) - - (1,013) Other - - - - Balances as of December 31, 2019 302,405 219,600 69,758 591,763 (*) Banco Santander-Chile has recognized in its consolidated financial statements as of December 31, 2019 impairment of $1,013 million, due to the effects of social unrest in the country. See Note 32. b.2 Accumulated depreciation 2020 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 (129,344) (164,106) (47,552) (341,002) Depreciation charges in the period (19,026) (28,370) (8,915) (56,311) Sales and disposals in the period 12,381 1,840 2,020 16,241 Other (4,816) - - (4,816) Balances as of December 31, 2020 (140,805) (190,636) (54,447) (385,888) 2019 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (114,810) (135,463) (40,193) (298,472) 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) c. The composition of the right of use assets as of December 31, 2020 and 2019 is as follows: As of December 31, 2020 2020 Opening balances as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 157,572 197,573 (49,576) 147,997 Other - - - - Total 157,572 197,573 (49,576) 147,997 As of December 31, 2019 2019 First application balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 154,284 182,910 (25,338) 157,572 Other - - - - Total 154,284 182,910 (25,338) 157,572 d. The movement of the right of use assets under lease during the 2020 and 2019 period, is as follows: d.1 Gross balance 2020 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 182,910 - 182,910 Additions 24,136 - 24,136 Disposals (9,473) - (9,473) Impairment - - - Other - - - Balances as of December 31, 2020 197,573 - 197,573 2019 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 154,284 - 154,284 Additions 48,008 - 48,008 Disposals (17,669) - (17,669) Impairment (1,713) - (1,713) Other - - - Balances as of December 31, 2019 182,910 - 182,910 d.2 Accumulated amortization 2020 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 (25,338) - (25,338) Amortization for the period (27,731) - (27,731) Sales and disposals during the period 3,496 - 3,496 Transfers - - - Others (3) - (3) Balances as of December 31, 2020 (49,576) - (49,576) 2019 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 - - - Amortization for the period (26,889) - (26,889) Sales and disposals during the period 1,551 - 1,551 Transfers - - - Others - - - Balances as of December 31, 2019 (25,338) - (25,338) e. Lease liability: As of December 31, 2020 and 2019, the composition of lease liability balances are composed as follows: As of December 31, 2020 2019 MCh$ MCh$ Lease liability 149,585 158,494 Total 149,585 158,494 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 recognized due to IFRS 16 implementation 139,558 Lease liability recognized 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, 2020 2019 MCh$ MCh$ Depreciation 27,731 26,889 Interests 2,651 2,965 Short term lease 1,625 4,177 Total 32,007 34,031 g. As of December 31, 2020 and 2019, the maturity level of the lease liability, according to their contractual maturity is as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 25,526 26,061 Due after 1 year but within 2 years 23,461 24,311 Due after 2 years but within 3 years 21,472 21,667 Due after 3 years but within 4 years 19,343 19,411 Due after 4 years but within 5 years 16,336 16,982 Due after 5 years 43,447 50,062 Total 149,585 158,494 h. Operational leases – lessor As of December 31, 2020 and 2019, the future minimum lease cash inflows under non-cancellable operating leases are as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 740 603 Due after 1 year but within 2 years 1,015 598 Due after 2 years but within 3 years 736 500 Due after 3 years but within 4 years 639 498 Due after 4 years but within 5 years 448 412 Due after 5 years 1,283 1,563 Total 4,861 4,174 i. As of December 31, 2020 and 2019, 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, 2020 and 2019. 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, 2020 | |
Disclosure of Current and Deferred Taxes [Abstract] | |
CURRENT AND DEFERRED TAXES | CURRENT AND DEFERRED TAXES a) Current taxes As of December 31, 2020 and 2019, the Bank recognizes taxes payable (recoverable), which is determined based on the currently applicable tax legislation, This amount is recorded net of recoverable taxes, and is shown as follows: As of December 31, 2020 2019 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) (11,648) Current tax liabilities 12,977 - Total tax payable (recoverable) 12,977 (11,648) (Assets) liabilities current taxes detail (net) Income tax, tax rate 174,205 153,424 Minus: Provisional monthly payments (157.648) (159,943) Credit for training expenses (2.137) (2,145) Grant credits (1.360) (1,149) Other (83) (1,835) Total tax payable 12,977 (11,648) b) Effect on income The effect of income tax expense on income for the years ended December 31, 2020, 2019 and 2018 is comprised of the following items: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income tax expense Current tax 174,205 153,424 196,527 Credits (debits) for deferred taxes Origination and reversal of temporary differences (28,465) 37,432 (25,517) Valuation provision - - (56) Subtotals 145,740 190,856 170,954 Tax for rejected expenses (Article No21) 1,354 927 1,110 Other (4,561) (16,709) (4,920) Net charges for income tax expense 142,533 175,074 167,144 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, 2020, 2019 and 2018, is as follows: For the year ended, 2020 2019 2018 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 27.00 187,721 27.00 214,566 27.00 207,046 Price level restatement for tax purposes (1) (6.15) (42,730) (6.33) (50,297) (5.15) (39,494) Single penalty tax (rejected expenses) 0.19 1,354 0.12 927 0.14 1,110 Other (0.55) (3,812) 1.24 9,878 (0.20) (1,518) Effective tax rates and expenses for income tax 20.50 142,533 22.03 175,074 21.79 167,144 (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, 2020 and 2019: As of December 31, 2020 2019 MCh$ MCh$ Deferred tax assets Debt instruments at FVOCI 14,907 8,074 Cash flow hedges 36,927 10,918 Total deferred tax assets recognized through other comprehensive income 51,834 18,992 Deferred tax liabilities Debt instruments at FVOCI (42,371) (15,830) Cash flow hedges - - Total deferred tax liabilities recognized through other comprehensive income (42,371) (15,830) Net deferred tax balances in equity 9,463 3,162 Deferred taxes in equity attributable to shareholders of the Bank 9,776 3,444 Deferred tax in equity attributable to non-controlling interests (313) (282) e) Effect of deferred taxes on income As of December 31, 2020 and 2019, the Bank has recorded effects for deferred taxes in the financial statements: As of December 31, 2020 2019 MCh$ MCh$ Deferred tax assets Interests and adjustments 8,166 9,531 Extraordinary charge-offs 17,705 15,325 Assets received in lieu of payment 1,425 1,214 Exchange rate adjustments 89 - Property, plant and equipment valuation - - 6,381 Allowance for loan losses 238,670 188,956 Provision for expenses 101,321 89,098 Leased assets 89,458 116,226 Subsidiaries tax losses 7,394 5,416 Right of use assets 428 249 Total deferred tax assets 464,656 432,396 Deferred tax liabilities Valuation of investments (19,967) (17,518) Fixed assets valuation (7,394) - Prepaid expenses (16,691) (20,347) Valuation provision (5,775) (6,058) Derivatives (37,265) (36,512) Exchange rate adjustments - - (2,817) Other (30) (75) Total deferred tax liabilities (87,122) (83,327) 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, 2020 2019 MCh$ MCh$ Deferred tax assets Recognized through other comprehensive income 51,834 18,992 Recognized through profit or loss 464,656 432,396 Total deferred tax assets 516,490 451,388 Deferred tax liabilities Recognized through other comprehensive income (42,371) (15,830) Recognized through profit or loss (87,122) (83,327) Total deferred tax liabilities (129,493) (99,157) |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other assets [text block] [Abstract] | |
OTHER ASSETS | OTHER ASSETS Other Assets includes the following: As of December 31, 2020 2019 MCh$ MCh$ Assets for leasing (1) 62,967 67,139 Assets received or awarded in lieu of payment Assets received in lieu of payment 15,213 18,755 Assets awarded at judicial sale 17,430 22,177 Provision on assets received in lieu of payment or awarded (1,196) (2,042) Subtotal 31,447 38,890 Other assets Guarantee deposits (margin accounts) (2) 608,359 314,616 Non-current assets classified as held for sale (3) 22,036 22,394 Gold investments 765 680 VAT credit 27,519 22,663 Income tax recoverable - 1,787 Prepaid expenses (4) 387,668 432,030 Assets recovered from leasing for sale 3,191 3,575 Valuation adjustments by macro hedge (5) 327,938 210,867 Pension plan assets 673 670 Accounts and notes receivable 100,504 147,108 Notes receivable through brokerage and simultaneous transactions 41,960 43,354 Other receivable assets 33,567 44,262 Other assets (6) 98,780 89,111 Subtotal 1,652,960 1,333,117 Total 1,747,374 1,439,146 (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) 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 38. (4) Under this item, the Bank has recorded prepaid expense related to the Santander LATAM Pass program, which is consumed on a monthly basis in accordance with the client use of Bank’s transactional products and therefore the Bank assigned the respective LATAM Pass miles. In May 2020, LATAM Airlines Group S.A began a reorganization process under Chapter 11, with an aim to was continue operating. LATAM has publicly stated its intention to honor all current and future tickets, as well as travel vouchers, miles and frequent flyer programs, which has been ratified by the bankruptcy court of New York (in charge of chapter 11). In addition, LATAM has formalized two tranches of the DIP (Debtor in Possession) financing proposal for a total of USD 2,200 million, obtaining all resources necessary to continue operating during the crisis. On October, the company made its first disbursement for US$1,150 million from the DIP financing, which represents 50% of the amount available. (5) Net assets and liabilities fair value valuation subject to macro hedges. See Note 7 (6) Other assets mainly include settlement of derivatives and other financial transactions. |
Time Deposits and Other Time Li
Time Deposits and Other Time Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Time Deposits and Other Time Liabilities [Abstract] | |
TIME DEPOSITS AND OTHER TIME LIABILITIES | TIME DEPOSITS AND OTHER TIME LIABILITIES As of December 31, 2020 and 2019, the composition of the line item time deposits and other liabilities is as follows: As of December 31, 2020 2019 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 11,342,648 8,093,108 Other deposits and demand accounts 1,583,183 741,103 Other demand liabilities 1,635,062 1,463,221 Subtotal 14,560,893 10,297,432 Time deposits and other time liabilities Time deposits 10,421,872 13,064,932 Time savings account 153,330 123,787 Other time liabilities 6,589 4,098 Subtotal 10,581,791 13,192,817 Total 25,142,684 23,490,249 |
Interbank Borrowings
Interbank Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of borrowings [text block] [Abstract] | |
INTERBANK BORROWINGS | INTERBANK BORROWINGS As of December 31, 2020 and 2019 the line item Interbank borrowings is as follows: As of December 31, 2020 2019 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile 4,959,260 - Loans from domestic financial institutions 217,102 286,603 Loans from foreign financial institutions Banco Santander S.A., Madrid 534.496 - The Bank of Nova Scotia 171.024 134,819 The Bank of New York Mellon 106.860 119,616 Bank of America N.A. US Foreig 90.711 355,051 Zurcher Kantonalbank 71.304 - Wells Fargo Bank N.A. 71.259 231,823 State Bank of India 36.013 28,231 Sumitomo Mitsui Banking Corporation 35.628 179,415 Wachovia Bank NA 10.254 - Banco Santander Hong Kong 7.960 3,697 Bank of Tokio Mitsubishi 2.055 156 Banco Santander Brasil S.A. 1.694 7,873 Standard Chartered Bank 1.691 153,373 Jp Morgan Chase, New York 1.571 - Standard Chartered Bank 1.516 3,613 Caja Madrid - Caja de Ahorros 862 - The Hongkong and Shanghai Bank 801 - Korea Exchange Bank 760 761 Industrial and Commercial Bank 755 898 Hong Kong and Shanghai Banking 598 684 Kookmin Bank 376 185 Banco Do Brasil 265 - U.S. Bank 248 - China Merchants Bank 231 597 Taiwan Cooperative Bank 227 131 Bank of China 223 952 Hua Nan Commercial Bank Ltd. 200 102 Banque Bruxelles Lambert S.A. 174 - Banca Monte Dei Paschi Di Siena 163 58 Unicredito Italiano Spa 161 583 Keb Hana Bank 156 119 Banco Santander Central Hispano 141 848 Bper Banca S.P.A. 137 - Hdfc Bank Limited 131 72 Bank Leumi Le Israel B.M. 127 - Bank of Baroda 124 9 Fortis Bank S.A./N.V. Brussels 108 50 Banca Commerciale Italiana 88 50 Caixa Destalvis I Pensions de Barcelona 87 63 Banco Bpm Spa 84 66 Rabobank, Hong Kong Branch 79 477 Banco de la Republica Oriental 74 23 Kbc Bank Nv 68 406 Canara Bank 61 66 Habib Bank Limited 61 38 First Union National Bank 60 - Caixabank S.A. 58 166 Icici Bank Limited 52 - Kotak Mahindra Bank Limited 49 - Citibank N.A. 46 269,841 Arab Bank Plc 41 - China Construction Bank 38 - Credit Agricole Italia S.P.A. 33 - Bankinter, S.A. 31 - Banco de La Nacion Argentina 30 - Bank of East Asia, Limited 29 82 Banco Popular Espanol, S.A. 29 - Banco Interamericano de Finanz 20 - Agricultural Bank of China 18 152 Woori Bank 15 155 Denizbank A.S., Istanbul 15 - United Bank of India 14 113 Banco Popolare 14 - Subtotal 1,152,199 1,495,414 As of December 31, 2020 2019 MCh$ MCh$ Loans from foreign financial institutions, continued Habib Metropolitan Bank Limite 13 - E. Sun Commercial Bank Ltd. 11 159 Nova Ljubljanska Banka D.D. 7 - Indian Overseas Bank 6 - Shanghai Commercial and Saving 1 6 Mizuho Bank Ltd Ny - 269,404 Barclays Bank Plc London - 98,803 Corporacion Andina De Fomento - 75,097 Zürcher Kantonalbank - 75,002 The Toronto Dominion Bank - 71,191 Hsbc Bank PLC - 69,786 Bank of Montreal - 56,123 Banco Latinoamericano de Comer - 18,731 Banco Bilbao Vizcaya Argentaria - 571 BBVA Bancomer, S.A. - 553 Bank of Communications - 385 Bank of The West - 261 Danske Bank A/S - 224 Deutsche Bank A.G. - 193 Bank of Taiwan - 135 Shinhan Bank - 133 Banca Di Credito Cooperativo 112 Joint Stock Commercial Bank Fo. - 110 Banca Nazionale Del Lavoro S.P - 106 Industrial Bank of Korea - 96 Banco Bradesco S.A. - 84 Bank of Ningbo - 83 China Everbright Bank - 70 Cassa Di Risparmio Di Parma E - 69 Mizuho Corporate Bank Ltd. - 67 Banco Comercial Portugues - 63 Shanghai Pudong Development Ba - 59 Kasikornbank Public Company Li - 33 Banco Rio de La Plata S.A. - 24 Australia And New Zealand Bank - 23 Citic Industrial Bank - 19 Shangai Pudong Development Ban - 14 Banco Caixa Geral - 10 Hsbc Bank USA - 2 Subtotal 38 737,801 Total 6,328,599 2,519,818 a) Loans from the Chilean Central Bank In response to the COVID-19 pandemic, the Chilean Central Bank has made two lines of credit available to banks to reinforce their liquidity, amounting to a total of US$24 billion for the whole banking system. These lines of credit bear interest at the Central Bank’s monetary policy rate (MPR), which was 0.5% as of December 31, 2020. Pursuant to these lines of credit, a bank may borrow up to 3% of the aggregate amount of its consumer and commercial loan portfolios as of February 29, 2020 and may borrow up to an additional 12% if it uses the funds to provide loans to companies and individuals. The first line of credit is a facility available conditionally on loan growth (the “FCIC”) to ensure that banks continue to finance households and businesses in Chile. Loans provided by this line of credit may have maturities of up to 4 years and must be secured by government bonds, corporate bonds or highly rated large commercial loans as collateral. Loans provided under the second line of credit, the LCL, are unsecured and may have maturities of up to 2 years. In addition, the LCL are limited to the aggregate amount of the liquidity reserve requirements of each bank. As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year - - Due within 1 and 2 year 1,104,759 - Due within 2 and 3 year - - Due within 3 and 4 year 3,854,501 - Due after 5 years - - Total loans from Chilean Central Bank 4,959,260 - b) Loans from domestic financial institutions These obligations’ maturities are as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 217,102 158,855 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 217,102 286,603 c) Foreign obligations As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 1,116,570 1,970,790 Due within 1 and 2 year 35,667 225,025 Due within 2 and 3 year - 37,400 Due within 3 and 4 year - - Due after 5 years - - Total loans from foreign financial institutions 1,152,237 2,233,215 |
Issued Debt Instruments and Oth
Issued Debt Instruments and Other Financial Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Issued Debt Instruments and Other Financial Liabilities [Abstract] | |
Schedule of maturities of subordinated bonds | ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES As of December 31, 2020 and 2019, composition of this item is as follows: As of December 31, 2020 2019 MCh$ MCh$ Other financial liabilities Obligations to public sector - 9,198 Other domestic obligations 175,344 204,705 Foreign obligations 8,974 12,455 Subtotals 184,318 226,358 Issued debt instruments Mortgage finance bonds 12,314 18,502 Senior bonds 6,749,989 8,574,213 Mortgage bond 84,335 89,924 Subordinated bonds 1,357,539 818,084 Subtotals 8,204,177 9,500,723 Total 8,388,495 9,727,081 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, 2020 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 4,982 7,332 12,314 Senior bonds 1,124,558 5,625,431 6,749,989 Mortgage bond 5,465 78,870 84,335 Subordinated bonds - 1,357,539 1,357,539 Issued debt instruments 1,135,005 7,069,172 8,204,177 Other financial liabilities 184,028 290 184,318 Total 1,319,033 7,069,462 8,388,495 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 a) Mortgage finance bonds These bonds are used to finance mortgage loans. Their principal amounts are amortized on a quarterly basis. The range of maturities of these bonds is between five and twenty years, Loans are indexed to UF and create a yearly interest yield of 5.20% as of December 31, 2020 (5.39% as of December 31, 2019). As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 4,982 6,013 Due after 1 year but within 2 years 3,816 4,944 Due after 2 year but within 3 years 2,375 3,928 Due after 3 year but within 4 years 979 2,442 Due after 4 year but within 5 years 162 1,005 Due after 5 years - 170 Total mortgage bonds 12,314 18,502 b) Senior bonds The following table shows senior bonds by currency: As of December 31, 2020 2019 MCh$ MCh$ Santander bonds in UF 4,017,708 4,814,604 Santander bonds in USD 1,263,714 1,649,238 Santander bonds in CHF 466,738 499,485 Santander bonds in Ch$ 639,489 1,242,633 Santander bonds in AUD 125,781 124,748 Current bonds in JPY 68,093 77,797 Santander bonds in EUR 168,466 165,708 Total senior bonds 6,749,989 8,574,213 i. Placement of senior bonds: In 2020, the Bank issued bonds for UF 1,996,000 and USD 742,500,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date Series maximum amount Maturity date W1 UF 1,996,000 5 and 3 months 1.55% annual 02-04-2018 2,000,000 06-01-2025 Total UF 1,996,000 2,000,000 US Bonds USD 742,500,000 5 years 2,70% annual 01-07-2020 750,000,000 01-07-2025 Total USD 742,500,000 750,000,000 During 2020, the Bank performed a partial repurchase of the following bonds: Fecha Tipo Moneda Monto 01-02-2020 Senior UF 357,000 01-03-2020 Senior UF 300,000 01-09-2020 Senior UF 60,000 01-09-2020 Senior UF 27,000 01-13-2020 Senior CLP 50,000,000 01-14-2020 Senior UF 109,000 01-14-2020 Senior CLP 9,820,000,000 01-14-2020 Senior UF 131,000 01-14-2020 Senior UF 322,000 01-15-2020 Senior USD 2,490,000 01-15-2020 Senior UF 47,000 01-16-2020 Senior CLP 400,000,000 01-16-2020 Senior UF 1,000 01-17-2020 Senior UF 28,000 01-20-2020 Senior UF 74,000 01-21-2020 Senior UF 171,000 01-21-2020 Senior UF 181,000 01-21-2020 Senior CLP 330,000,000 01-22-2020 Senior CLP 11,430,000,000 01-24-2020 Senior UF 2,000 01-29-2020 Senior UF 1,000 01-29-2020 Senior CLP 120,000,000 01-30-2020 Senior CLP 10,000,000 01-31-2020 Senior UF 40,000 02-06-2020 Senior CLP 6,000,000,000 02-07-2020 Senior CLP 1,180,000,000 02-11-2020 Senior CLP 7,430,000,000 02-12-2020 Senior CLP 2,520,000,000 02-13-2020 Senior CLP 10,000,000,000 02-17-2020 Senior UF 2,000 02-17-2020 Senior UF 15,000 02-18-2020 Senior UF 50,000 02-18-2020 Senior UF 4,000 02-20-2020 Senior UF 350,000 02-20-2020 Senior UF 115,000 02-21-2020 Senior UF 57,000 02-21-2020 Senior UF 24,000 02-24-2020 Senior UF 250,000 02-24-2020 Senior UF 10,000 02-26-2020 Senior UF 169,000 02-26-2020 Senior UF 1,000 02-27-2020 Senior UF 180,000 02-27-2020 Senior UF 11,000 02-27-2020 Senior CLP 6.750.000.000 03-02-2020 Senior UF 1.000 03-05-2020 Senior UF 2.000 03-09-2020 Senior UF 261.000 03-09-2020 Senior UF 150.000 03-11-2020 Senior UF 2.000 03-17-2020 Senior UF 850.000 03-18-2020 Senior UF 150.000 Fecha Tipo Moneda Monto 03-19-2020 Senior USD 5.000.000 03-23-2020 Senior UF 95.000 03-23-2020 Senior USD 5.000.000 03-24-2020 Senior CLP 1.250.000.000 03-30-2020 Senior UF 62.000 03-31-2020 Senior UF 360.000 03-31-2020 Senior UF 5.000 04-01-2020 Senior CLP 1.000.000.000 04-02-2020 Senior UF 5.184.000 04-02-2020 Senior CLP 16.710.000.000 04-03-2020 Senior CLP 32.800.000.000 04-03-2020 Senior UF 27.000 04-06-2020 Senior CLP 101.400.000.000 04-06-2020 Senior UF 157.000 04-06-2020 Senior USD 10.000.000 04-07-2020 Senior CLP 3.990.000.000 04-07-2020 Senior UF 6.659.000 04-07-2020 Senior USD 10.000.000 04-08-2020 Senior CLP 210.000.000 04-13-2020 Senior CLP 970.000.000 04-14-2020 Senior CLP 2.000.000.000 04-17-2020 Senior CLP 11.900.000.000 05-05-2020 Senior USD 49.000.000 05-14-2020 Senior USD 47.000.000 06-02-2020 Senior CLP 6.020.000.000 06-03-2020 Senior UF 100.000 06-03-2020 Senior CLP 10.750.000.000 06-05-2020 Senior USD 5.000.000 06-08-2020 Senior CLP 23.000.000.000 06-12-2020 Senior CLP 150.000.000 06-16-2020 Senior CHF 12.160.000 06-17-2020 Senior CHF 36.785.000 06-19-2020 Senior CLP 112.490.000.000 06-22-2020 Senior CLP 1.500.000.000 06-26-2020 Senior CLP 3.500.000.000 07-02-2020 Senior CLP 4.620.000.000 07-10-2020 Senior CHF 2.000.000 07-10-2020 Senior CLP 500.000.000 07-15-2020 Senior CLP 490.000.000 07-17-2020 Senior UF 1.000 07-17-2020 Senior CLP 29.780.000.000 08-13-2020 Senior UF 345.000 08-14-2020 Senior USD 3.350.000 08-21-2020 Senior UF 100.000 08-21-2020 Senior UF 77.000 08-24-2020 Senior UF 11.000 08-25-2020 Senior UF 14.000 09-09-2020 Senior UF 24.000 09-09-2020 Senior UF 70.000 09-09-2020 Senior UF 45.000 09-10-2020 Senior UF 210.000 09-23-2020 Senior USD 5.000.000 09-28-2020 Senior UF 50.000 09-29-2020 Senior UF 1.000 09-30-2020 Senior UF 43.000 10-01-2020 Senior UF 4,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior CLP 50,000,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior UF 1,000 10-15-2020 Senior UF 2,000 10-20-2020 Senior CHF 2,000,000 10-01-2020 Senior USD 5,153,000 10-19-2020 Senior USD 20,000,000 11-16-2020 Senior USD 1,000,000 11-18-2020 Senior USD 10,000,000 11-15-2020 Senior USD 477,510,000 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 approval date Series maximum amount 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 ii. The maturities of senior bonds are as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 1,124,558 2,078,202 Due after 1 year but within 2 years 1,047,241 1,147,825 Due after 2 year but within 3 years 742,081 1,221,393 Due after 3 year but within 4 years 1,228,524 742,238 Due after 4 year but within 5 years 1,250,897 1,278,746 Due after 5 years 1,356,688 2,105,809 Total senior bonds 6,749,989 8,574,213 c) Mortgage bonds Detail of mortgage bonds per currency is as follows: As of December 31, 2020 2019 MCh$ MCh$ Mortgage bonds in UF 84,335 89,924 Total mortgage bonds 84,335 89,924 i. Allocation of mortgage bonds During 2020 and 2019, the Bank has not placed any mortgage bonds. ii. The maturities of Mortgage bonds are as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 5,465 5,137 Due after 1 year but within 2 years 8,773 8,248 Due after 2 year but within 3 years 9,056 8,514 Due after 3 year but within 4 years 9,348 8,788 Due after 4 year but within 5 years 9,649 9,072 Due after 5 years 42,044 50,165 Total Mortgage bonds 84,335 89,924 d) Subordinated bonds Detail of the subordinated bonds per currency is as follows: As of December 31, 2020 2019 MCh$ MCh$ Subordinated bonds denominated in USD 202,634 - Subordinated bonds denominated in UF 1,154,905 818,084 Total subordinated bonds 1,357,539 818,084 i. Placement of subordinated bonds As of December 31, 2020, the Bank issued bonds for USD200,000,000 and UF11,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date Series maximum amount Maturity date Bono USD USD 200,000,000 10 years 3.79% 01-21-2020 200,000,000 01-21-2030 Total USD 200,000,000 200,000,000 USTDH20914 UF 3,000,000 14 years y 5 months 3.00% 04-07-2020 3,000,000 09-01-2034 USTDH30914 UF 3,000,000 19 years y 5 months 3.15% 04-07-2020 3,000,000 09-01-2039 USTDW20320 UF 5,000,000 15 years y 3 months 3.50% 06-19-2020 5,000,000 09-01-2035 Total UF 11,000,000 11,000,000 ii. The maturities of Mortgage bonds are as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year - - 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 1,357,539 818,084 Total subordinated bonds 1,357,539 818,084 e) Other financial liabilities The composition of other financial obligations, by maturity, is detailed below: As of December 31, 2020 2019 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 42 41 Due after 2 year but within 3 years 47 44 Due after 3 year but within 4 years 50 48 Due after 4 year but within 5 years 55 53 Due after 5 years 96 132 Non-current portion subtotal 290 318 Current portion: Amounts due to credit card operators 134,790 151,984 Acceptance of letters of credit 1,460 5,709 Other long-term financial obligations, short-term portion 47,778 68,347 Current portion subtotal 184,028 226,040 Total other financial liabilities 184,318 226,358 |
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, 2020 and 2019, the detail of the maturities of assets and liabilities is as follows: As of December 31, 2020 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,803,288 - - - 2,803,288 - - - - 2,803,288 Cash items in process of collection 452,963 - - - 452,963 - - - - 452,963 Financial assets held for trading - 680 2,630 499 3,809 633 18,257 111,019 129,909 133,718 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 385,231 401,486 795,881 1,582,598 1,723,334 1,692,142 4,034,011 7,449,487 9,032,085 Loans and accounts receivables at amortized cost (*) 170,214 1,246,271 1,443,659 3,664,841 6,524,985 3,659,994 293,785 23,861,129 27,814,908 34,339,893 Loans and account receivable at FVOCI (**) 5,405 5,405 16,243 49,037 65,280 70,685 Debt instruments at FVOCI - 1,006,983 493 188,977 1,196,453 205,150 2,378,752 3,382,187 5,966,089 7,162,542 Equity instruments at FVOCI - - - - - - - 548 548 548 Guarantee deposits (margin accounts) 608,359 - - - 608,359 - - - - 608,359 Total financial assets 4,034,824 2,639,165 1,848,268 4,655,603 13,177,860 5,589,111 4,399,179 31,437,931 41,426,221 54,604,081 Financial liabilities Deposits and other demand liabilities 14,560,893 - - - 14,560,893 - - - - 14,560,893 Cash items in process of being cleared 361,631 - - - 361,631 - - - - 361,631 Obligations under repurchase agreements - 969,808 - - 969,808 - - - - 969,808 Time deposits and other time liabilities 159,918 5,843,682 2,912,985 1,434,246 10,350,831 163,053 44,384 23,523 230,960 10,581,791 Financial derivative contracts - 386,690 445,376 931,358 1,763,424 1,552,482 1,708,509 3,994,245 7,255,236 9,018,660 Interbank borrowings 16,832 238,414 222,992 855,434 1,333,672 1,140,426 3,854,501 - 4,994,927 6,328,599 Issued debt instruments - 344,732 447,117 343,156 1,135,005 1,813,341 2,499,560 2,756,271 7,069,172 8,204,177 Lease liabilities 144,478 38,148 1,375 27 184,028 89 105 96 290 184,318 Other financial liabilities - - - 25,526 25,526 44,933 35,679 43,447 124,059 149,585 Guarantees received (margin accounts) 624,205 - - - 624,205 - - - - 624,205 Total financial liabilities 15,867,957 7,821,474 4,029,845 3,589,747 31,309,023 4,714,324 8,142,738 6,817,582 19,674,644 50,983,667 (*) Loans and accounts receivables at amortized cost are presented on a gross basis, the amount of allowance is Ch$1,036,793 million. (**) Loans and accounts receivables at FVOCI are presented on a gross basis, the amount of allowance is Ch$1,354 million. As of December 31, 2019 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 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 amortized 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 amortized 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$101 million. |
Provisions and Contingent Provi
Provisions and Contingent Provisions | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of provisions [text block] [Abstract] | |
PROVISIONS AND CONTINGENT PROVISIONS | PROVISIONS AND CONTINGENT PROVISIONS a) As of December 31, 2020 and 2019, the composition is as follows: As of December 31, 2020 2019 MCh$ MCh$ Provisions for personnel salaries and expenses 104,270 101,223 Provisions for mandatory dividends 164,284 185,727 Provisions for contingent loan 28,247 23,240 Provision for contingencies 33,863 15,940 Total 330,664 326,130 b) Below is the activity regarding provisions during the years ended December 31, 2020, 2019 and 2018 Personnel and expenses Mandatory Contingent Contingencies Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 101,223 185,727 23,240 15,940 326,130 Provisions established 76,281 164,284 14,683 25,367 280,615 Application of provisions (71,481) - - - (71,481) Provisions released (1,755) (185,727) (9,676) (7,444) (204,602) Reclassifications - - - - - Other 2 - - - 2 Balances as of December 31, 2020 104,270 164,284 28,247 33,863 330,664 Balances as of January 1, 2019 93,379 178,600 23,709 9,583 305,271 Provisions established 78,316 185,727 15,879 28,373 308,295 Application of provisions (70,385) - - (155) (70,540) Provisions released (552) (178,600) (16,348) (21,861) (217,361) Reclassifications - - - - - Other 465 - - - 465 Balances as of December 31, 2019 101,223 185,727 23,240 15,940 326,130 Balances as of January 1, 2018 97,576 168,840 9,480 27,902 303,798 Provisions established 80,912 178,600 19,240 19,647 298,399 Application of provisions (72,975) - - (4,431) (77,406) Provisions released (3,195) (168,840) (5,011) (33,535) (210,581) Reclassifications - - - - - Other (8,939) - - - (8,939) Balances as of December 31, 2018 93,379 178,600 23,709 9,583 305,271 c) Provisions for personnel salaries and expenses includes: As of December 31, 2020 2019 MCh$ MCh$ Provision for seniority compensation 6,658 6,797 Provision for stock-based personnel benefits - - Provision for performance bonus 65,786 68,595 Provision for vacations 29,307 23,864 Provision for other personnel benefits 2,519 1,967 Total 104,270 101,223 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, 2020 and 2019 is as follows: December 31, 2020 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2020 1,509 13,127 226 542 3,487 4,349 23,240 Transfer Transfers from stage 1 to stage 2 (1,273) (3,614) 1,785 13,442 - - 10,340 Transfers from stage 1 to stage 3 - (76) - - 83 2,757 2,764 Transfers from stage 2 to stage 3 - - (73) (148) 2,839 1,720 4,338 Transfers from stage 2 to stage 1 165 2,687 (295) (9,274) - - (6,717) Transfers from stage 3 to stage 2 - - - 240 (6) (1,934) (1,700) Transfers from stage 3 to stage 1 - 14 - - - (444) (430) Net changes on financial assets 2,279 (200) 126 (315) (2,995) (1,748) (2,853) Write-off - - - - - - - Other adjustment 135 (928) (6) 65 (170) 169 (735) At December 31, 2020 2,815 11,010 1,762 4,552 3,238 4,869 28,247 December 31, 2019 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2019 1,081 15,070 259 172 3,856 3,271 23,709 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 491 (1,474) (41) (106) (2,100) 2,173 (5,471) Write-off - - - - - - - Other adjustments (9) (115) (8) (19) 6 8 (137) At December 31, 2019 1,509 13,127 226 542 3,487 4,349 23,240 |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other liabilities [text block] [Abstract] | |
OTHER LIABILITIES | OTHER LIABILITIES The other liabilities line item is as follows: As of December 31, 2020 2019 MCh$ MCh$ Accounts and notes payable 227,518 214,216 Income received in advance 828 640 Macro-hedge valuation adjustment 51,089 - Guarantees received (margin accounts) (1) 624,205 994,714 Notes payable through brokerage and simultaneous transactions (3) 12,504 1,418,340 Other payable obligations (2) 139,622 61,555 Withholding VAT 14,129 8,147 Accounts payable insurance companies 13,911 9,510 Other liabilities 82,047 99,203 Total 1,165,853 2,806,325 (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 between Latam and Delta, which was paid to shareholders on January 3, 2019. |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of commitments and contingent liabilities [text block] [Abstract] | |
CONTINGENCIES AND COMMITMENTS | 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, 2020, the Bank and its subsidiaries have provisions for this item of Ch$1,024 (Ch$1,274 million as of December 31, 2019) which is included in “Provisions” in the Consolidated Statements of Financial Position as provisions for contingencies. b) Contingent loans The following table shows the Bank’s contractual obligations to issue loans: As of December 31, 2020 2019 MCh$ MCh$ Letters of credit issued 165,119 140,572 Foreign letters of credit confirmed 82,779 70,192 Performance guarantee 1,090,643 1,929,894 Personal guarantees 441,508 451,950 Total contingent liabilities 1,780,049 2,592,608 Available on demand credit lines 8,391,414 8,732,422 Other irrevocable credit commitments 406,234 485,991 Total loan commitment 8,797,648 9,218,413 Total 10,577,697 11,811,021 c) Held securities The Bank holds securities in the normal course of its business as follows: As of December 31, 2020 2019 MCh$ MCh$ Third party operations Collections 83,392 90,966 Transferred financial assets managed by the Bank 18,017 21,507 Assets from third parties managed by the Bank and its affiliates 1,352,032 1,592,845 Subtotal 1,453,441 1,705,318 Custody of securities Securities held in custody 11,022,790 9,731,894 Securities held in custody deposited in other entity 808,186 1,206,541 Issued securities held in custody 10,461,847 21,636,819 Subtotal 22,292,823 32,575,254 Total 23,746,264 34,280,572 During 2020, 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 2020, the balance for this was Ch$1,351,997 million (Ch$1,592,810 million at December 31, 2019). 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 USD50,000,000 per claim with an annual limit of USD100,000,000, which covers both the Bank and its subsidiaries, with an expiration date of June 30, 2021, which has been renewed. e) Contingent loans and liabilities The Bank took on several contingent loans and liabilities, to satisfy its clients’ needs, that are not be recognized 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, 2020 | |
Disclosure of share capital, reserves and other equity interest [text block] [Abstract] | |
EQUITY | EQUITY a) Capital As of December 31, 2020 and 2019 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 2020, 2019 and 2018 was as follows: SHARES As of December 31, 2020 2019 2018 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, 2020, 2019 and 2018 the Bank does not have any of its own shares in treasury, nor do any of the consolidated companies. As of December 31, 2020 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 - 22,450,671,671 22,450,671,671 11.91 Banks on behalf of third parties 15,925,407,468 - 15,925,407,468 8.45 Pension funds (AFP) on behalf of third parties 9,929,343,874 - 9,929,343,874 5.27 Stock brokers on behalf of third parties 6,892,162,980 - 6,892,162,980 3.66 Other minority holders 6,655,539,533 - 6,655,539,533 3.53 Total 165,995,455,123 22,450,671,671 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2019 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 - 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 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 - 26,486,000,071 26,486,000,071 14.05 Banks on behalf of third parties 15,770,481,573 - 15,770,481,573 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. b) Reserves During 2020, on the Shareholders Meeting held in April, it was agreed to capitalize on reserves 40% of retained earnings from previous years, equivalent to MCh$220,838 (MCh$236,761 and MCh$141,204 in the year 2019 and 2018 respectively). c) Dividends The distribution of dividends is detailed in the Consolidated Statements of Changes in Equity. d) As of December 31, 2020, 2019 and 2018 the basic and diluted earnings per share were as follows: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the shareholders of the Bank 547,614 619,091 595,333 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 2.906 3.285 3.159 Basic earnings per share from continuing operations (in Ch$) 2.906 3.276 3.139 Basic earnings per share from discontinued operations (in Ch$) - 0.009 0.020 b) Diluted earnings per share Total attributable to the shareholders of the Bank 547,614 619,091 595,333 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 2.906 3.285 3.159 Diluted earnings per share from continuing operations (in Ch$) 2.906 3.276 3.139 Diluted earnings per share from discontinued operations (in Ch$) - 0.009 0.020 As of December 31, 2020, 2019 and 2018 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, 2020 2019 2018 MCh$ MCh$ MCh$ Debt instruments at FVOCI As of January 1, 29,184 6,962 1,855 Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax 30,062 (17,775) 6,609 Recycling from other comprehensive income to income for the year 43,609 39,997 (1,502) Subtotals 73,671 22,222 5,107 Total 102,885 29,184 6,962 Cash flow hedges As of January 1, (40,435) 9,803 (3,562) Gains (losses) on the re-measurement of cash flow hedges, before tax (93,182) (49,163) 14,048 Recycling adjustments on cash flow hedges, before tax (3,148) (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 (96,330) (50,238) 13,365 Total (136,765) (40,435) 9,803 Other comprehensive income, before taxes (33,910) (11,251) 16,765 Income tax related to other comprehensive income components Income tax relating to debt instruments at FVOCI (27,464) (7,756) (1,810) Income tax relating to cash flow hedges 36,927 10,918 (2,646) Total 9,463 3,162 (4,456) Other comprehensive income, net of tax (24,447) (8,089) 12,309 Attributable to: Shareholders of the Bank (25,293) (8,856) 11,353 Non-controlling interest 846 767 956 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, 2020 | |
Disclosure of non-controlling interests [text block] [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, 2020 Non- Equity Income Debt instruments Deferred tax Total other Comprehensive % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0,25 174 (4) (4) 1 (3) (7) Santander Corredores de Bolsa Limitada 49,41 22.614 351 (38) 9 (29) 322 Santander Asesorías Financieras Limitada 0,97 493 (5) 152 (41) 111 106 Santander S.A. Sociedad Securitizadora 0,36 2 - - - - - Klare Corredora de Seguros S.A. 49,90 2.902 (880) - - - (880) Santander Consumer Chile S.A. 49,00 29.649 5,619 - - - 5,619 Subtotal 55,834 5,081 110 (31) 79 5,160 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100,00 4,808 (127) - - - (127) Bansa Santander S.A. 100,00 19,565 349 - - - 349 Multiplica Spa 100,00 4,476 (187) - - - (187) Subtotal 28,849 35 35 Total 84,683 5,116 110 (31) 79 5,195 Other comprehensive income As of December 31, 2019 Non- Equity Income Debt instruments Deferred tax Total other Comprehensive % 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) Formerly Santander Agente de Valores Limitada (2) On November 27, 2019, the Bank acquired 51% of Santander Consumer S.A., and the remaining 49% is accounted as non-controlling interest. Other comprehensive income As of December 31, 2018 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 0.25 172 4 (2) - (2) 2 Santander Corredores de Bolsa Limitada 49.41 21,673 755 (84) 2 (82) 673 Santander Agente de Valores Limitada 0.94 488 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 Cobranzas Limitada 100.00 3,777 852 - - - 852 Bansa Santander S.A. 100.00 20,051 2,650 - - - 2,650 Subtotals 23,828 3,502 - - - 3,502 Total 46,163 4,360 (86) 2 (84) 4,276 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, 2020 2019 2018 Assets Liabilities Capital Net Assets Liabilities Capital Net Assets Liabilities Capital Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 79,936 10,777 70,554 (1,395) 82,918 12,372 68,159 2,387 77,764 9,595 66,374 1,795 Santander Corredores de Bolsa Limitada 94,802 49,038 45,053 711 1,479,974 1,434,843 43,866 1,265 102,228 57,999 42,691 1,538 Santander Asesorias Financieras Limitada(*) 52,070 1,142 51,454 (526) 51,505 51 50,481 973 50,552 71 40,177 10,304 Santander S.A. Sociedad Securitizadora 630 175 547 (92) 636 88 639 (91) 704 66 728 (90) Klare Corredora de Seguros S.A. 6,415 599 7,579 (1,763) 8,303 724 8,586 (1,007) - - - - Santander Consumer Chile S.A. 693,992 633,177 49,348 11,467 505,059 452,528 39,951 12,580 - - - - Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. 16,448 1,185 16,273 (1,010) Santander Gestión de Recaudación y Cobranzas Ltda. 7,789 3,108 4,808 (127) 8,200 3,392 3,777 1,031 6,932 3,155 2,925 852 Bansa Santander S.A. 84,496 64,582 19,565 349 87,607 68,042 20,051 (486) 20,437 386 17,401 2,650 Multiplica Spa 4,336 47 4,476 (187) 4,480 4 4,480 (4) - - - - Total 1,040,914 763,830 269,657 7,427 2,228,682 1,972,044 239,990 16,648 258,617 71,272 170,296 17,049 |
Interest Income
Interest Income | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of interest income (expense) [text block] [Abstract] | |
INTEREST INCOME | 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, 2020, 2019 and 2018 the income from interest, was attributable to the following items: For the years ended December 31, 2020 2019 2018 Interest Inflation Prepaid fees Total Interest Inflation Prepaid fees Total Interest Inflation Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 124 - - 124 718 - - 718 903 - - 903 Interbank loans 36 - - 36 1,263 - - 1,263 897 - - 897 Commercial loans 722,116 174,360 10,207 906,683 780,284 160,462 16,478 957,224 771,405 153,851 11,008 936,264 Mortgage loans 322,687 314,777 491 637,955 349,663 283,820 455 633,938 330,055 266,691 909 597,655 Consumer loans 564,363 338 5,245 569,946 593,705 384 8,107 602,196 579,929 439 6,166 586,534 Investment instruments 69,276 36,141 - 105,417 71,150 26,169 - 97,319 75,423 24,790 - 100,213 Other interest income 9,078 4,384 - 13,462 18,387 3,592 - 21,979 16,644 4,013 - 20,657 Interest income not including income from hedge accounting 1,687,680 530,000 15,943 2,233,623 1,815,170 474,427 25,040 2,314,637 1,775,256 449,784 18,083 2,243,123 b) For the years ended December 31, 2020, 2019 and 2018, the expense from interest expense, excluding expense from hedge accounting, is as follows: For the years ended December 31, 2020 2019 2018 Interest Inflation Total Interest Inflation Total Interest Inflation Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (13,576) (1,526) (15,102) (14,018) (1,508) (15,526) (14,914) (1,371) (16,285) Repurchase agreements (1,899) - (1,899) (9,710) - (9,710) (6,439) - (6,439) Time deposits and liabilities (141,091) (20,876) (161,967) (335,307) (27,172) (362,479) (317,061) (35,284) (352,345) Interbank loans (45,103) - (45,103) (50,354) - (50,354) (39,971) - (39,971) Issued debt instruments (232,551) (140,095) (372,646) (250,512) (145,487) (395,999) (241,455) (133,227) (374,682) Other financial liabilities (637) (11) (648) (1,310) (33) (1,343) (2,698) (110) (2,808) Lease contracts (2,651) - (2,651) (2,965) - (2,965) - - - Other interest expense (9,576) (14,722) (24,298) (16,651) (11,300) (27,951) (6,929) (10,497) (17,426) Interest expense not including expenses from hedge accounting (447,084) (177,230) (624,314) (680,827) (185,500) (866,327) (629,467) (180,489) (809,956) c) For the years ended December 31, 2020, 2019 and 2018, the income and expense from interest is as follows: For the years ended December 31, 2020 2019 2018 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,233,623 2,314,637 2,243,123 Interest expense not including expense from hedge accounting (624,314) (866,327) (809,956) Net Interest income (expense) from hedge accounting 1,609,309 1,448,310 1,433,167 Hedge accounting (net) (15,461) (31,346) (18,799) Total net interest income 1,593,848 1,416,964 1,414,368 |
Fees and Commissions
Fees and Commissions | 12 Months Ended |
Dec. 31, 2020 | |
Fees and Commissions [Abstract] | |
Fees and Commissions | 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, 2020 2019 2018 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 7,428 10,315 6,624 Fees and commissions for guarantees and letters of credit 36,277 35,039 33,654 Fees and commissions for card services 196,308 225,702 218,903 Fees and commissions for management of accounts 34,825 35,949 33,865 Fees and commissions for collections and payments 23,242 33,355 40,077 Fees and commissions for intermediation and management of securities 11,272 10,154 10,147 Insurance brokerage fees 39,764 49,664 39,949 Office banking 15,119 13,655 15,921 Fees for other services rendered 44,072 47,331 45,633 Other fees earned 42,855 37,494 39,690 Total 451,162 498,658 484,463 For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (123,011) (171,513) (163,794) Fees and commissions for securities transactions (896) (1,001) (936) Office banking (2,078) (1,860) (4,096) Interbank services (24,957) (19,839) (14,413) Other fees (32,942) (17,359) (10,339) Total (183,884) (211,572) (193,578) Net fees and commissions income 267,278 287,086 290,885 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 As of December 31, 2020 Individuals Companies Global Others Total Transferred Transferred at a Accrual MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 6,334 690 398 6 7,428 7,428 - - Commissions for guarantees and letters of credit 11,304 17,505 7,112 356 36,277 36,277 - - Commissions for card services 187,098 6,620 2,568 22 196,308 47,073 149,235 - Commissions for account management 31,508 2,495 819 3 34,825 34,825 - - Commissions for collections, collections and payments 21,281 1,514 367 80 23,242 - 11,303 11,939 Commissions for intermediation and management of values 3,353 299 8,149 (529) 11,272 - 11,272 - Remuneration for insurance commercialization 39,764 - - - 39,764 - - 39,764 Office banking 10,393 4,077 649 - 15,119 - 15,119 - Other remuneration for services rendered 39,318 3,606 1,028 120 44,072 - 44,072 - Other commissions earned 18,948 11,716 12,850 (659) 42,855 - 42,855 - Total 369,301 48,522 33,940 (601) 451,162 125,603 273,856 51,703 Commission expenses Remuneration for card operation (118,255) (3,020) (1,070) (666) (123,011) - (68,550) (54,461) Commissions per transaction with securities - - (69) (827) (896) - (896) - Office banking (1,326) (434) (314) (4) (2,078) - (2,078) - Interbank services (16.073) (5,183) (3,663) (38) (24,957) (24,957) Other commissions (20,216) (1,550) (5,644) (5,532) (32,942) - (32,942) - Total (155,870) (10,187) (10,760) (7,067) (183,884) - (129,423) (54,461) Total Net commission income and expenses 213,431 38,335 23,180 (7,668) 267,278 125,603 144,433 (2,758) 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 As of December 31, 2019 Individuals and Companies and Global Investment Others Total Transferred over Transferred at a 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) - Interbank services (12,776) (4,121) (2,912) (30) (19,839) (19,839) Other commissions (9,559) (1,013) (2,707) (4,080) (8,359) - (8,359) - 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 |
Net Income (Expense) From Finan
Net Income (Expense) From Financial Operations | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of finance income (cost) [text block] [Abstract] | |
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS | NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS The detail of income (expense) from financial operations is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net gains on trading derivatives 42,704 (162,183) 38,217 Net gains on financial assets at fair value through profit or loss 1,671 11,878 9,393 Net gains on derecognition of financial assets measured at amortized cost 80,679 63,672 8,479 Sale of loans and accounts receivables from customers Current portfolio 48 63 (309) Charged-off portfolio (110) 3,248 709 Repurchase of issued bonds (*) (24,973) 3,073 (1,085) Other income (expense) from financial operations (9,237) 2,084 (2,230) Total income (expense) 90.800 (78,165) 53,174 (*) The Bank repurchased its own bonds, see Note 2 for details. |
Net Foreign Exchange Gain (Loss
Net Foreign Exchange Gain (Loss) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of effect of changes in foreign exchange rates [text block] [Abstract] | |
NET FOREIGN EXCHANGE GAIN (LOSS) | 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, 2020, 2019 and 2018 net foreign exchange income is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences 90,133 (89,893) (212,618) Hedging derivatives (27,624) 362,374 252,275 Income from assets indexed to foreign currency (3,512) 7,376 12,251 Total 58,997 279,857 51,908 |
Expected Credit Losses Allowanc
Expected Credit Losses Allowance | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of allowance for credit losses [text block] [Abstract] | |
EXPECTED CREDIT LOSSES ALLOWANCE | EXPECTED CREDIT LOSSES ALLOWANCE I. Expected credit losses (ECL) allowance – under IFRS 9 As of December 31, 2020 and 2019, 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, 2020 (*) Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 20,055 9,617 35,861 23,410 115,730 86,018 290,691 Mortgage loans 0 16,603 0 (5,966) 0 7,636 18,273 Consumer loans 0 19,024 0 (18,914) 0 161,466 161,576 Contingent loans 1,335 (1,600) 1,624 4,023 (14) 423 5,789 Loans and account receivable at FVOCI 1,253 - - - - - 1,253 Debt at FVOCI - 682 - - - - 682 Total 22,643 44,326 37,485 2,552 115,716 255,543 478,264 (*) Includes overlays for an amount of MCh$59,000. See Note 37, Risk management. For the year ended December 31, 2019 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ 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) |
Personnel Salaries and Expenses
Personnel Salaries and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of expenses by nature [text block] [Abstract] | |
PERSONNEL SALARIES AND EXPENSES | PERSONNEL SALARIES AND EXPENSES For the years ended December 31, 2020, 2019 and 2018, the composition of personnel salaries and expenses is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation 265,312 260,445 259,354 Bonuses or gratifications 77,046 78,534 72,728 Stock-based benefits (1,589) (315) (337) Seniority compensation 22,380 25,006 21,869 Pension plans 1,026 567 1,069 Training expenses 2,887 4,918 3,782 Day care and kindergarten 2,769 2,731 2,778 Welfare funds 6,531 6,644 6,040 Other personnel expenses 32,308 31,627 30,281 Total 408,670 410,157 397,564 |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Expenses By Nature 1 Explanatory [Abstract] | |
ADMINISTRATIVE EXPENSES | ADMINISTRATIVE EXPENSES For the years ended December 31, 2020, 2019 and 2018, the composition of the item is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ General administrative expenses 142,848 124,896 145,241 Maintenance and repair of property, plant and equipment 20,300 19,214 20,962 Office lease - - 29,761 Equipment lease - - 55 Short term leases contracts 1,625 4,177 - Insurance payments 5,064 3,848 3,439 Office supplies 4,774 5,126 5,070 IT and communication expenses 68,436 52,017 44,209 Heating, and other utilities 5,455 2,848 4,849 Security and valuables transport services 12,365 12,187 12,168 Representation and personnel travel expenses 2,375 4,109 3,444 Judicial and notarial expenses 860 1,277 1,148 Fees for technical reports and auditing 8,460 7,643 10,020 Other general administrative expenses 13,134 12,450 10,116 Outsourced services 72,513 71,572 65,358 Data processing 38,032 31,921 32,360 Archive services 2,619 3,518 3,401 Valuation services 3,208 3,644 3,167 Outsourcing 6,177 10,139 9,936 Other 22,477 22,350 16,494 Board expenses 1,517 1,356 1,297 Marketing expenses 16,791 20,891 19,286 Taxes, payroll taxes, and contributions 16,781 14,897 13,907 Real estate taxes 2,214 1,954 1,730 Patents 2,135 1,913 1,896 Other taxes 5 5 7 Contributions to FMC (former SBIF) 12,427 11,025 10,274 Total 250,450 233,612 245,089 |
Depreciation, Amortization, and
Depreciation, Amortization, and Impairment | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of depreciation and amortisation expense [text block] [Abstract] | |
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT | DEPRECIATION, AMORTIZATION, AND IMPAIRMENT Depreciation, amortization and impairment charges for the years ended December 31, 2020, 2019 and 2018, are detailed below: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (56,311) (52,855) (54,987) Amortization of Intangible assets (25,384) (26,348) (24,293) Depreciation right of use assets (27,731) (26,889) - Total depreciation and amortization (109,426) (106,092) (79,280) Impairment of property, plant, and equipment - (1,013) (39) Impairment of right of use assets (638) (1,713) - Impairment of intangibles - - - Total impairment (638) (2,726) (39) Total (110,064) (108,818) (79,319) |
Other Operating Income and Expe
Other Operating Income and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other operating income (expense) [text block] [Abstract] | |
OTHER OPERATING INCOME AND EXPENSES | OTHER OPERATING INCOME AND EXPENSES a) Other operating income is comprised of the following components: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 5,934 5,613 7,106 Release of contingencies provisions (1) 503 - 12,020 Other income 1,769 7,388 4,003 Leases - - 222 Income from sale of property, plant and equipment (2) 865 2,456 2,490 Compensation from insurance companies due to damages (3) 702 4,681 144 Other 202 251 1,147 Total 8,206 13,001 23,129 (1) In accordance with IAS 37, the Bank recorded contingencies provisions, which in 2018 and 2020 were favorable to the Bank. (2) Legal cession of rights made by Bansa Santander S.A. which resulted in an income of Ch$2,122 million, as of December 31, 2018. (3) Mainly related to recoveries from fraud claims. b) Other operating expenses are detailed as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment 2,941 3,900 2,537 Provision on assets received in lieu of payment 1,456 1,828 816 Expenses for maintenance of assets received in lieu of payment 1,485 2,072 1,721 Credit card expenses 546 1,077 3,151 Customer services 1,559 2,456 3,635 Other expenses 72,760 41,870 23,019 Operating charge-offs 10,675 8,349 5,694 Life insurance and general product insurance policies (1) 32,987 21,205 9,964 Sale of property plant and equipment - 67 62 Retail association payment 326 343 898 Sale of participation on associates 20 126 - Expense on social commotion event - 1,823 - Leasing land tax (2) 3,174 - - Commercial representation expenses 3,501 256 - Non-recurrent expenses 6,622 - - Other 15,455 9,701 6,401 Total 77,806 49,303 32,342 (1) New Fraud Law became effective on 2020. (2) Annual Land Tax surcharge approved in the Tax Modernization Law of February 24, 2020 . |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of related party [text block] [Abstract] | |
TRANSACTIONS WITH RELATED PARTIES | 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, 2020 2019 2018 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 352,590 265 3,939 900 246,868 375 2,986 685 122,289 459 4,299 233 Mortgage loans - - 22,428 - - - 20,473 - - - 18,814 - Consumer loans - - 6,131 - - - 5,781 - - - 5,335 - Loans and accounts receivable: 352,590 265 32,498 900 246,868 375 29,240 685 122,289 459 28,448 233 Allowance for loan losses (1,138) (9) (137) (14) (122) (182) (179) (10) (308) (9) (116) (5) Net loans 351,452 256 32,361 886 246,746 193 29,061 675 121,981 450 28,332 228 Guarantees 3,323 - 27,203 442 462,513 - 23,918 288 442,854 - 22,893 7,171 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 3,447 - - 93 4,112 - - 63 5,392 - 2,060 44 Guarantees 811 - - - 464,691 - - - 445,064 - 3,364 - Contingent loans: 4,258 - - 93 468,803 - - 63 450,456 - 5,424 44 Allowance for contingent loans (6) - - - (835) - - - (1) - (18) - Net contingent loans 4,252 - - 93 467,968 - - 63 450,455 - 5,406 44 Loan activity to related parties during 2020, 2019 and 2018 is shown below: As of December 31, 2020 2019 2018 Companies of the Group (*) Associated companies Key Personnel Other Companies of the Group (*) Associated companies Key Personnel Other Companies of the Group (*) Associated companies Key Personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 715,671 375 29,240 748 572,745 459 33,871 7,899 476,906 771 27,051 7,826 Loans granted 388,896 - 8,080 727 193,798 167 4,826 500 200,657 39 16,574 773 Loans payments (747,719) (110) (4,822) (482) (50,872) (251) (9,457) (7,651) (104,818) (351) (9,754) (700) Total 356,848 265 32,498 993 715,671 375 29,240 748 572,745 459 33,871 7,899 (*) Loans with non-controlled companies (not-consolidated) amount MCh$2,286, MCh$2,059 and MCh$122,289 as of December 31, 2020, 2019 and 2018, respectively. b) Assets and liabilities with related parties As of December 31, 2020 2019 2018 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 703,069 - - - 171,816 - - - 189,803 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - Financial derivative contracts 978,696 186,038 33 7 2,058,715 218,610 - 55 748,632 105,358 - 9 Debt instrument at FVOCI - - - - - - - - - - - - Other assets 445,609 412,277 - - 185,317 210,579 - - 38,960 51,842 - - Liabilities Deposits and other demand liabilities 17,118 4,484 5,997 3,242 25,261 93,761 4,624 566 27,515 21,577 2,493 480 Obligations under repurchase agreements Loans 961,718 - 101 - 138,498 5,000 270 80 6,501 - 329 68 Time deposits and other time liabilities 1,409,404 100 4,706 864 1,183,235 282,171 4,246 2,204 2,585,337 - 3,189 838 Financial derivative contracts 1,137,502 354,108 - - 2,159,660 288,013 - 3 770,624 112,523 - - Interbank borrowing 544,291 - - - - - - - - - - - Issued debt instruments 349,002 - - - 363,154 - - - 335,443 - - - Other financial liabilities - - - - 6,231 - - - 6,807 - - - Other liabilities 1,210 4,484 5,997 3,242 8,130 146,164 - - 60,884 89,817 - - c) Income (expense) recorded due to transactions with related parties For the years ended December 31, 2020 2019 2018 Companies of the Group Associated Companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated Companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (30,586) 21 1,202 10 (41,181) (5,235) 1,151 26 (53,256) (156) 1,252 508 Fee and commission income and expenses 46,823 22,596 152 24 28,274 14,499 232 28 91,178 7,826 305 22 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) (390,737) 240,565 - - (586,318) (84,236) - - (566,677) 65,727 27 (12) Other operating income and expenses 492 (522) - - 406 (2,026) - - 42 1,388 - - Key personnel compensation and expenses - (31,961) - - - (37,377) - - - (40,683) - Administrative and other expenses (45,478) (16,763) - - (11,877) (47,757) - - (43,035) (50,764) - - Total (419,486) 245,897 (30,607) 34 (610,696) (124,755) (35,994) 54 (571,748) 24,021 (39,099) 518 (*) 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, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation 16,220 16,264 16,924 Board members’ salaries and expenses 1,452 1,358 1,230 Bonuses or gratifications 12,583 16,104 16,243 Stock-based benefits (1,589) (315) (337) Seniority compensation 1,079 2,378 4,202 Pension plans 1,026 567 1,069 Training expenses 87 37 210 Health funds 276 273 284 Other personnel expenses 827 711 858 Total 31,961 37,377 40,683 (*) 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, 2020, 2019 and 2018, the composition of the Bank’s key personnel is as follows: Position N° of executives As of December 31, 2020 2019 2018 Director 11 10 11 Division manager 13 12 12 Manager 96 106 108 Total key personnel 120 128 131 |
Pension Plans
Pension Plans | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of employee benefits [text block] [Abstract] | |
PENSION PLANS | 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 2020 totaled MCh$8,224 (MCh$7,195 in 2019). The amount of the defined benefit plans has been quantified by the Bank, based on the following criteria: Calculation method: Use of the projected unit credit method which considers each working year as generating an additional amount of rights over benefits and values each unit separately. It is calculated based primarily on fund contributions, as well as other factors such as the legal annual pension limit, seniority, age and yearly income for each unit valued individually. Assets related to the pension fund contributed by the Bank into the Seguros Euroamérica insurance company with respect to defined benefit plans are presented as net of associated commitments. Actuarial hypothesis assumptions: Actuarial assumptions with respect to demographic and financial variables are non-biased and mutually compatible with each other. The most significant actuarial hypotheses considered in the calculations were: Plans post-employment Plans post-employment 2020 2019 Mortality chart RV-2014 RV-2014 Termination of contract rates 5,0% 5,0% Impairment chart PDT 1985 PDT 1985 Activity for post-employment benefits is as follows: As of December 31, 2020 2019 MCh$ MCh$ Plan assets 8,224 7,195 Commitments for defined-benefit plans For active personnel (7,551) (6,525) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 673 670 Year’s cash flow for post-employment benefits is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 7,195 6,804 7,919 Expected yield of insurance contracts 385 333 353 Employer contributions 870 859 836 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (226) (801) (2,304) Fair value of plan assets at year end 8,224 7,195 6,804 b) Present value of obligations Present value of obligations opening balance (6,525) (5,958) (6,998) Net incorporation of Group companies - - - Service cost (1,026) (567) (1,069) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other - - 2,109 Present value of obligations at year end (7,551) (6,525) (5,958) Net balance at year end 673 670 846 Plan expected profit: As of December 31, 2020 2019 2018 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, 2020 2019 2018 MCh$ MCh$ MCh$ Current period service expenses 1,026 566 1,069 Interest cost - - - Expected yield from plan’s assets (385) (333) (353) Expected yield of insurance contracts linked to the Plan: - Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 641 233 716 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of fair value measurement [text block] [Abstract] | |
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES | 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 recognized 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, 2020 and 2019: As of December 31, 2020 2019 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Financial derivative contracts 133,718 133,718 8,148,608 8,148,608 Financial assets held for trading 9.032.085 9,032,085 270,204 270,204 Loans and accounts receivable at amortized cost, net 33,303,100 36,921,368 31,775,420 34,602,793 Loans and accounts receivable at FVOCI, net 69,331 69,331 66,065 66,065 Debt instrument at FVOCI 7,162,542 7,162,542 4,010,272 4,010,272 Guarantee deposits (margin accounts) 608,359 608,359 314,616 314,616 Liabilities Deposits and interbank borrowings 31,471,283 32,047,227 26,010,067 26,200,921 Financial derivative contracts 9,018,660 9,018,660 7,390,654 7,390,654 Issued debt instruments and other financial liabilities 8,388,495 9,590,678 9,727,081 10,718,997 Guarantees received (margin accounts) 624,205 624,205 994,714 994,714 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 amortized 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 financial instrument Model used in valuation Description of unobservable inputs - Mortgage and private bonds Present Value of Cash Flows Model Internal Rates of Return (“IRRs”) are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given nemotechnic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on historical spread for the same item or similar ones. - Time deposits Present Value of Cash Flows Model IRRs are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given mnemonic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on issuer curves. - Constant Maturity Swaps (CMS), FX and Inflation Forward (Fwd), Cross Currency Swaps (CCS), Interest Rate Swap (IRS) Present Value of Cash Flows Model IRRs are provided by ICAP, GFI, Tradition, and Bloomberg according to this criterion: With published market prices, a valuation curve is created by the bootstrapping method and is then used to value different derivative instruments. - FX Options Black-Scholes Formula adjusted by the volatility simile (implicit volatility), Prices (volatility) are provided by BGC Partners, according to this criterion: With published market prices, a volatility parameter is created by interpolation and then these volatilities are used to value options. - 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). Several techniques are used to perform these estimates, 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, 2020 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 133,718 132,246 1,472 - Loans and accounts receivable at FVOCI, net 69,331 - - 69,331 Debt instruments at FVOCI 7,162,542 7,145,285 16,731 526 Derivatives 9,032,085 - 9,024,484 7,601 Guarantee deposits (margin accounts) 608,359 - 608,359 - Total 17,006,035 7,277,531 9,651,046 77,458 Liabilities Derivatives 9,018,660 - 9,015,900 2,760 Guarantees received (margin accounts) 624,205 - 624,205 - Total 9,642,865 - 9,640,105 2,760 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 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, 2020 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortized cost, net 36,921,368 - - 36,921,368 Total 36,921,368 36,921,368 Liabilities Deposits and interbank borrowings 32,047,227 - 17,486,334 14,560,893 Issued debt instruments and other financial liabilities 9,590,678 - 9,590,678 - Total 41,637,905 - 27,077,012 14,560,893 Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortized 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 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 was 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 transfers between levels 1 and 2 for the year ended December 31, 2020 and 2019. 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, 2020 Instrument Level 3 Valuation technique Main unobservable Impacts (in MCh$) Impacts (in MCh$) Derivatives Present Value method Curves on TAB (1) (1.3) (1.3) Debt instruments at FVOCI Internal rate of return method BR UF (2) - - As of December 31, 2019 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts (in MCh$) Derivatives Present Value method Curves on TAB (1) (2.3) 2.3 Debt instruments at FVOCI Internal rate of return method BR UF (2) - - (1) TAB: “Tasa Activa Bancaria” (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). (2) BR: “Bonos de Reconocimiento” (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. The following table presents the Bank’s activity for assets and liabilities measured at fair value on a recurrent basis using unobserved significant inputs (Level 3) as of December 31, 2020 and 2019: Assets Liabilities MCh$ MCh$ As of January 1, 2020 81,678 2,950 Total realized and unrealized profits (losses) Included in statements of income (196) 1,012 Included in other comprehensive income 3,087 - Purchases, issuances, and loans (net) - - Level transfer (7,111) (1,202) As of December 31, 2020 77,458 2,760 Total profits or losses included in comprehensive income for 2020 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2019 (4,220) (190) 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) - - Level transfer - - 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 The realized and unrealized profits (losses) included in comprehensive income for 2020 and 2019, 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, 2020 and 2019 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 2020 and 2019: As of December 31, 2020 Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount Remains of unrelated Amount in Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts (*) 8.840.436 - 8.840.436 191,649 9,032,085 Investments under resale agreements - - - Loans and accounts receivable at amortized cost, net - - - Loans and accounts receivable at FVOCI, net - - - 33,303,100 33,303,100 Total 8.840.436 - 8.840.436 33,494,749 42,335,185 Liabilities Financial derivative contracts (*) 8,922,079 - 8,922,079 96,581 9,018,660 Investments under resale agreements 969,808 - 969,808 - 969,808 Deposits and interbank borrowings - - - 31,471,283 31,471,283 Total 9,891,887 - 9,891,887 31,567,864 41,459,751 (*) Derivatives contract have guarantees associated for Ch$191,802 million and Ch$96,263, respectively. Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount Remains of unrelated Amount in Assets Ch$ 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 amortized 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 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, 2020 As of December 31, 2019 Financial derivative contracts Assets Liability Assets Liability MCh$ MCh$ MCh$ MCh$ Financial derivative contracts with collateral agreement threshold equal to zero 8,127,263 7,900,539 7,478,837 6,748,219 Financial derivative contracts with non-zero threshold collateral agreement 471,529 606,661 532,298 517,814 Financial derivative contracts without collateral agreement 433,293 511,460 137,472 124,621 Total 9,302,085 9,018,660 8,148,607 7,390,654 |
Risk Management
Risk Management | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial risk management [text block] [Abstract] | |
RISK MANAGEMENT | 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: ● Foreign exchange risk: this arises as a consequence of exchange rate fluctuations among currencies. ● Interest rate risk: this arises as a consequence of fluctuations in market interest rates. ● 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. ● 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 - Operational 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, 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 ● Cybersecurity ● Solvency risk (BIS) ● Legal risks ● Compliance risks ● Reputational risks This Committee includes six Board members. This committee also includes the CEO, the Director of Risk and other senior level executives from the risk and 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 Vice-President of the Board and three additional members of the Board, the Chief Executive Officer, the Chief Financial 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, approving the risk appetite and limits regarding our exposure to inflation, interest rate risk, funding, capital and liquidity levels. ● Review of the evolution of the most relevant local and international markets and monetary policies. D. Market Committee The Market Committee includes the Chairman of the Board, the Vice Chairman of the Board, two additional members of the Board, the Chief Executive Officer, the Director of Corporate Investment Banking, the Chief Financial Officer, 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 results of the Bank’s client treasury business. ● 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. Market risk Market risk arises as a consequence of the market activity, by means of financial instruments whose value can be affected by market variations, reflected in different assets and financial risk factors. The risk can be diminished by means of hedging through other products (assets/liabilities or derivative instruments) or terminating the open transaction/position. The objective of market risk management is to manage and control market risk exposure within acceptable parameters. There are four major risk factors that affect the market prices: type of interest, type of exchange, price, and inflation. In addition and for certain positions, it is necessary to consider other risks as well, such as spread risk, base risk, commodity risk, volatility or correlation risk. Market risk management The Bank’s internal management measures market risk based mainly on the procedures and standards of Banco Santander Spain, which are in turn based on an analysis of three principal components: - trading portfolio - local financial management portfolio - foreign financial management portfolio The trading portfolio is comprised chiefly of investments valued at fair market value and free of any restriction on their immediate sale, which are often bought and sold by the Bank with the intention of selling them in the short term to benefit from short–term price fluctuations. The trading portfolio also includes the Bank’s exposure to foreign currency. The financial management portfolios include all the financial investments not considered to be part of trading portfolio. The main decisions that relate to market risk for the Bank and the limits regarding market risk are made in the Asset and Liability Committee and the Market Committee. The measurement and oversight of market risks is performed by the Market Risk Department. The Bank’s governance rules have established the existence of two high-level committees that, among other things, function to monitor and control market risks: the Asset and Liability Committee and the Market Committee. The Market Risk department’s functions in connection with trading portfolio include the following: i. applies the “Value at Risk” (VaR) techniques to measure interest rate risk, ii. adjust the trading portfolios to market and measure the daily income and loss from commercial activities, iii. compare the real VaR with the established limits, iv. establish procedures to prevent losses in excess of predetermined limits, and v. furnishes information on the trading activities to the ALCO, other members of the Bank’s management, and the Global Risk Department of Banco Santander Spain. The Market Risk department’s functions in connection with financial management portfolios include the following: i. performs sensitivity simulations (as explained below) to measure interest rate risk for activities denominated in local currency and the potential losses forecasted by these simulations. ii. provide daily reports thereon to the ALCO, other members of the Bank’s management, and the Global Risk Department of Banco Santander Spain. Market risk – management of trading portfolio The Bank applies VaR methodologies to measure the market risk of its trading portfolio. The Bank has a consolidated commercial position comprised of fixed–income investments and foreign currency trading. This portfolio is comprised mostly of Central Bank of Chile bonds, mortgage bonds, locally issued, low–risk corporate bonds and foreign currencies, mainly U.S. dollars. At the end of each year, the trading portfolio included no stock portfolio investments. 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. We do not calculate three separate VaRs. We calculate a single VaR for the entire trading portfolio, which in addition is segregated by risk type. The VaR software performs a historical simulation and calculates a Profit and Loss Statement (P&L) for 520 data points (days) for each risk factor (fixed income, foreign currency and variable income.) The P&L of each risk factor is added together and a consolidated VaR is calculated with 520 points or days of data. At the same time a VaR is calculated for each risk factor based on the individual P&L calculated for each individual risk factor. Furthermore, a weighted VaR is calculated in the manner described above, but which gives a greater weighting to the 30 most recent data points. The larger of the two VaRs is the one that is reported. In 2020, 2019 and 2018, we used the same VaR model and there has been no change in methodology or assumptions for subsequent periods. The Bank uses the VaR estimates to provide a warning when the statistically estimated incurred losses in its trading portfolio would exceed prudent levels, and hence, there are certain predetermined limits. Limitations of the VaR model When applying a calculation methodology, no assumptions are made regarding the probability distribution of the changes in the risk factors; the historically observed changes are used for the risk factors on which each position in the portfolio will be valued. It is necessary to define a valuation function fj(xi) for each instrument, preferably the same one used to calculate the market value and income of the daily position, This valuation function will be applied in each scenario to generate simulated prices for all the instruments in each scenario. In addition, the VaR methodology should be interpreted taking into consideration the following limitations: - Changes in market rates and prices may not be independent and identically distributed random variables and may not have a normal distribution. In particular, the assumption of normal distribution may underestimate the probability of extreme market movements; - The historical data used by the Bank may not provide the best estimate of the joint distribution of changes in the risk factors in the future, and any modification of the data may be inadequate. In particular, the use of historical data may fail to capture the risk of potential extreme and adverse market fluctuations, regardless of the time period used; - A 1-day time horizon may not fully capture the market risk positions which cannot be liquidated or covered in a single day, It would not be possible to liquidate or cover all the positions in a single day; - The VaR is calculated at the close of business, but trading positions may change substantially in the course of the trading day; - The use of a 99% level of confidence does not take account of, or make any statement about, the losses that could occur outside of that degree of confidence; and - A model such as the VaR does not capture all the complex effects of the risk factors over the value of the positions or portfolios, and accordingly, it could underestimate potential losses, We perform back-testing daily and generally find that trading losses exceed our VaR estimate approximately one out of every 100 trading days. At the same time, we set a limit to the maximum VaR that we are willing to accept over our trading portfolio. Also, a maximum VaR limit was established that can be applied over the trading portfolio. The VaR as of December 31, 2020 was USD 2.62 million, below the total limit. High, low and average levels for each component for 2020 and 2019 were as follows: VaR 2020 USDMM 2019 USDMM Consolidated: High 12.82 15.78 Low 1.94 1.33 Average 4.45 3.06 Fixed-income investments: High 11.96 9.77 Low 1.50 1.18 Average 3.19 2.33 Variable-income investments High 0.01 - Low - 0.01 Average - - Foreign currency investments High 6.47 6.05 Low 0.71 0.10 Average 2.85 1.60 Market risk - local and foreign financial management The Bank’s financial management portfolio includes most of the Bank’s non-trading assets and liabilities, including the credit/loan portfolio. For these portfolios, investment and financing decisions are strongly influenced by the Bank’s commercial strategies. The Bank uses a sensitivity analysis to measure the market risk of local and foreign currencies (not included in the trading portfolio). The Bank performs a simulation of scenarios, which will be calculated as the difference between the present value of the flows in the chosen scenario (a curve with a parallel movement of 100 bps in all its segments) and their value in the base scenario (current market). All the inflation–indexed local currency (UF) positions are adjusted by a sensitivity factor of 0.57, which represents a 57 basis point change in the rate curve for the real rates and a 100 basis point change for the nominal rates. The same scenario is performed for the net foreign currency positions and the interest rates in U.S. dollars. The Bank has also established limits in regard to the maximum loss which these interest rate movements could impose on the capital and net financial income budgeted for the year. To establish the consolidated limit, we add the foreign currency limit to the domestic currency limit and multiple by 2 the sum of the multiplication of them together both for net financial loss limit as well as for the capital and reserves loss limit, using the following formula: Consolidated limit = square root of a2 + b2 + 2ab a: domestic currency limit b: foreign currency limit Since we assume the correlation is 0; 2ab = 0, 2ab = 0 Limitations of the sensitivity models The most important assumption is using an exchange rate of 100 bp based on yield curve (57 bp for real rates). The Bank uses a 100 bp exchange since sudden changes of this magnitude are considered realistic. Santander Spain Global Risk Department has also established comparable limits by country, to be able to compare, monitor and consolidate market risk by country in a realistic and orderly way. In addition, the sensitivity simulation methodology should be interpreted taking into consideration the following limitations: - The simulation of scenarios assumes that the volumes remain consistent in the Bank’s Consolidated Statements of Financial Position and are always renewed at maturity, thereby omitting the fact that certain credit risk and prepayment considerations may affect the maturity of certain positions. - This model assumes an identical change along the entire length of the yield curve and does not take into account the different movements for different maturities. - The model does not take into account the sensitivity of volumes which results from interest rate changes. - The limits to losses of budgeted financial income are calculated based on the financial income foreseen for the year, which may not be actually earned, meaning that the real percentage of financial income at risk may be higher than the expected one. Market risk – Financial management portfolio – December 31, 2020 and 2019 2020 2019 Effect on Effect on Effect on Effect on Financial management portfolio – local currency (MCh$) Loss limit 100,000 329,275 100,000 275,000 High 66,504 302,263 32,719 273,473 Low 26,492 214,596 12,686 145,338 Average 45,380 255,070 24,719 228,772 Financial management portfolio – foreign currency (Th$US) Loss limit 32 53 30 75 High 19 47 20 35 Low 2 12 5 1 Average 5 33 12 12 Financial management portfolio – consolidated (in MCh$) Loss limit 100,000 329,275 100,000 275,000 High 67,584 286,436 34,462 271,989 Low 25,111 210,706 15,236 143,836 Average 46,044 246,292 27,918 227,303 IBOR – reform In December 2020, the ICB Benchmark Administration Limited (IBA) published a consultation about its intention to stop publishing LIBOR rates in currencies other than USD since December 31, 2021, and all other LIBOR in USD since June 30, 2023. The Bank is working in a “transition program” focused mainly in: i. Identifying the risks associated with the transition and defining mitigation actions ii. Developing products referenced to the proposed replacement rates iii. Developing transition process, through the renegotiation of existing contracts referenced to LIBOR At December 31, 2020, the exposures of financial assets and liabilities impacted by the IBOR reform is presented below: Loans and Deposits Debt instruments Financial derivative Financial derivative (Liabilities) MCh$ MCh$ MCh$ MCh$ MCh$ 362,331 582,979 200,301 614,035 483,789 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 8, 9, 10 and Note 29, we present our net exposure to credit risk at December 31, 2020 and 2019. Credit Risk Governance The Risk Division, our credit analysis and risk management group, is largely independent of our business areas, 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. The Bank’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: ● Formulate credit policies by consulting with the business units, meeting requirements of guarantees, credit evaluation, risk rating and submitting reports, documentation and legal procedures in compliance with the regulatory, legal and internal requirements of the Bank. Establish the structure to approve and renew credit requests. The Bank structures credit risks by assigning limits to the concentration of credit risk in terms of individual debtor, debtor group, industry segment and country. Approval levels are assigned to the corresponding officials of the business unit (commercial, consumer, SMEs) to be exercised by that level of management. In addition, those limits are continually revised. Teams in charge of risk evaluation at the branch level interact on a regular basis with customers; however, for larger credit requests, the risk team from the head office and the Executive Risk Committee works directly with customers to assess credit risks and prepare risk requests. ● Limit concentrations of exposure to customers or counterparties in geographic areas or industries (for accounts receivable or loans), and by issuer, credit rating and liquidity. ● Develop and maintain the Bank’s credit risk classifications for the purpose of classifying risks according to the degree of exposure to financial loss that is exhibited by the respective financial instruments, with the aim of focusing risk management specifically on the associated risks. ● Revise and evaluate credit risk. Management’s risk divisions are largely independent of the Bank’s commercial division and evaluate all credit risks in excess of the specified limits prior to loan approvals for customers or prior to the acquisition of specific investments. Credit renewal and reviews are subject to similar processes. The following diagram illustrates the governance of our credit risk division including the committees with approval power: 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 MCh$63,500 (or U.S.$89.1 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. Its approval instance will depend on the relative importance of the models (“Tier” of the model); in this way, if the model is of the greatest importance, it is approved in risk committees of the Headquarters (Spain); otherwise, it is approved locally. ● For each scoring model, a quarterly Risk Report is prepared, which is reviewed locally and is also sent to Santander Analytics (Santander Spain). This report indicates the stability of the model and its level of predictability. Credit Approval: Loans approved on an individual basis In preparing a credit proposal for a corporate client whose loans are approved on an individual basis, Santander-Chile’s personnel verifies such parameters as debt servicing capacity (typically including projected cash flows), the company’s financial history and projections for the economic sector in which it operates. The Risk Division is closely involved in this process and prepares the credit application for the client. All proposals contain an analysis of the client, a rating and a recommendation. Credit limits are determined not on the basis of outstanding balances of individual clients, but on the direct and indirect credit risk of entire financial groups. For example, a corporation will be evaluated together with its subsidiaries and affiliates. Credit Approval: Loans approved on a group basis The majority of loans to individuals and small and mid-sized companies are approved by the Standardized Risk Area through an automated credit scoring system. This system is decentralized, automated and based on multiple parameters, including demographic and information regarding credit behavior from external sources and the FMC. Impairment assessment (policy applicable from January 1, 2018) In accordance with the requirements of IFRS 9 the Bank has developed a new credit risk model, applicable from January 1, 2018. 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 decreases in the underlying collateral value where the recovery of the loan is expected from the sale of the collateral ● A material decreases 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 utilize 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, 2020 and 2019: December 31, 2020 Individually assessed Commercial Portfolio Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 45,862 - - 45,862 0.13% 3 - - 3 0.00% A2 1,095,506 3,265 - 1,098,771 3.20% 900 54 - 954 0.09% A3 1,863,480 19,658 - 1,883,138 5.48% 3,318 339 - 3,657 0.35% A4 2,632,793 42,529 - 2,675,322 7.79% 7,329 606 - 7,935 0.77% A5 2,538,748 164,341 232 2,703,321 7.87% 11,498 4,618 78 16,194 1.56% A6 1,588,410 289,460 53 1,877,923 5.47% 16,541 14,010 53 30,604 2.95% B1 - 715,348 - 715,348 2.08% - 25,679 - 25,679 2.48% B2 - 161,239 233 161,472 0.47% - 9,566 138 9,704 0.94% B3 - 65,684 695 66,379 0.19% - 3,764 434 4,198 0.40% B4 - 73,248 49,430 122,678 0.36% - 3,008 21,014 24,022 2.32% C1 - 29,863 138,171 168,034 0.49% - 2,201 48,365 50,566 4.88% C2 - 12,282 69,491 81,773 0.24% - 926 27,021 27,947 2.70% C3 - 1,550 55,378 56,928 0.17% - 86 15,603 15,689 1.51% C4 - 2,227 48,177 50,404 0.15% - 143 21,038 21,181 2.04% C5 - 3,981 36,822 40,803 0.12% - 267 20,397 20,664 1.99% C6 - 5,040 131,384 136,424 0.40% - 185 107,364 107,549 10.37% Subtotal 9,764,799 1,589,715 530,066 11,884,580 34.61% 39,589 65,452 261,505 366,546 35.35% 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 4,493,999 228,591 380,019 5,102,609 14.86% 40,943 44,315 193,268 278,526 26.86% Mortgage 11,518,363 392,372 501,090 12,411,825 36.14% 25,065 8,441 79,016 112,522 10.85% Consumer 4,439,163 236,595 265,121 4,940,879 14.39% 88,825 31,732 158,642 279,199 26.93% Subtotal 20,451,525 857,558 1,146,230 22,455,313 65.39% 154,833 84,488 430,926 670,247 64.65% Total 30,216,324 2,447,273 1,676,296 34,339,893 100.00% 194,422 149,940 692,431 1,036,793 100.00% December 31, 2019 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage 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 Allowance 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% 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 standardized 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 realized 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 LG |
Non Current Assets Held for Sal
Non Current Assets Held for Sale | 12 Months Ended |
Dec. 31, 2020 | |
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 acquiring network, and therefore the Bank is in process of disposing of the investment in those companies. Accordingly, the Bank management is engaged in a search plan for buyers. In accordance with the requirements of IFRS 5, the Bank has presented as non-current assets classified as held for sale those investments, isolating them from the investments in associates, in the same way it has presented the income associated with such investments as non-current results. In accordance with facts and circumstances arising from the social unrest in Chile and the global pandemic due to COVID-19 (situations beyond the Bank’s control), the process of selling its share participation has taken more than one year. If, however, the Bank continues committed to its selling plan and its acquiring network development plan, as evidenced by the recent creation of a payment card operating company and the active search for potential buyers. As of December 31, 2020, the Bank has sold its participation in Nexus. The following investments in associates were classified to Other assets as assets held for sale: As of December 31, 2020 2019 Participation Assets Income Assets Income % MCh$ MCh$ MCh$ MCh$ Transbank 25.00 19,093 - 19,093 1,442 Nexus - - - 357 136 Redbanc 33.43 2,943 - 2,943 121 Total 22.036 - 22,393 1,699 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Nonadjusting Events After Reporting Period Abstract | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On January 7, 2021, at the Extraordinary Shareholders’ Meeting of the “Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A.” the members agreed to pay total subscribed and unpaid capital. Accordingly, “Santander Asesorías Financieras Limitada” should pay MCh$0,8 in cash and Banco Santander should pay MCh$37 in cash plus assets whose appraisal determined by the Board were MCh$3,689, thus the shareholders has paying 100% of capital of the company. On January 29, 2021, the Board of FMC in the Ordinary Session N°220 – through Resolution Exempt N°704 – authorize the operation “Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A.” as a banking support company and its registration in the Payment Card Operator Registry, under code 876. The Central Bank of Chile announced on January 27, 2021, a third stage of this financing mechanism called FCIC3. FCIC 3 will come into effect on March 1, 2021 and there will be an access limit per bank of US$ 2 billion. This new stage is focused on: (i) finalizing the committed execution of this monetary policy instrument, and (ii) deepening and extending the Government's guarantee loan programs (FOGAPE) considering the prolongation of the health emergency and the need to support the reactivation process. The Fogape-Reactiva program is a new economic support measure that includes government guaranteed financing for working capital, investment and refinancing for individuals, small and large-sized companies and it will be in force until December 31, 2021. No other subsequent events that need to be disclosed occurred between January 1, 2021 and the date of issuance of these Consolidated Financial Statements (February 26, 2021). |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
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$29,070.33 as of December 31, 2020 and Ch$28,309.94 as of December 31, 2019. In 2020, UF inflation was 2.7% 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, 2020, 2019 and 2018, 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 recognized directly in equity and attributed to owners of the Bank. In addition, third parties’ shares in the Bank’s consolidated equity are presented as “Non-controlling interests” in the Consolidated 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 Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2020 2019 2018 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander 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 50.10 - 50.10 - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 51.00 - 51.00 - - - Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. (4) Card operator Santiago, Chile 99.99 0.01 100.00 - - - - - - The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 24– Non-controlling interest. (1) On December 18, 2019, Santander Agente de Valores Limitada changed 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 is 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. (4) On July 6, 2020, Banco Santander registered as a new subsidiary and business support company named “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A”. 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 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 As of December 31, Place of 2020 2019 2018 Associates Main activity Incorporation and % % % operation Redbanc S.A. (*) ATM services Santiago, Chile - - 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - - 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 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. and Transbank S.A. therefore it has been classified in accordance to IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations” as investment available for sale. Otherwise its share participation in Nexus S.A., has been sold. See Note N°38. 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 performs transactions in foreign currencies, mainly in U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank and its subsidiaries are translated to Chilean pesos at the representative market exchange rate of the month for the reported period; the rate used was Ch$712.47 as of December 31, 2020 (Ch$747.37 per US$1 as of December 31, 2019). 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 (from January 1, 2018) | g) Classification and measurement of financial instrument – under IFRS 9 (from January 1, 2018) Financial instruments must be classified and measured in accordance with IFRS 9 starting from January 1, 2018, 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 determines 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, i.e., 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 realize cash flows by collecting contractual payments over the life of the instrument, under this business model sales made when there is an increase in the credit risk, or to manage credit concentration risk are not inconsistent with a business model whose objective is to hold financial assets to collect contractual cash flows. ● Held to collect and sell (HTC&S) - financial assets under this business model achieve the objective by both collecting contractual cash flows and selling financial assets, then involve a greater frequency and value of sales than HTC business model. ● Other business model - financial assets held in this business has the objective of realizing cash flows through the sale of the assets. The Bank makes decisions based on the assets’ fair values and manages the assets to realize those fair values. ii) Classification of financial liabilities The Bank classified all financial liabilities as subsequently measured at amortized cost, except for derivatives that are liabilities, which are measured at fair value through profit or loss. iii) 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) Amortized cost Financial assets that are held in a business model to collect the contractual cash flows and contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at amortized cost. The effective interest method is used in the calculation of the amortized cost of a financial asset or a financial liability and in the allocation and recognition of the interest revenue or interest expense in profit or loss over the relevant period. The effective interest rate (EIR) is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial asset or financial liability to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. (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 recognized in other comprehensive income, until the assets are sold. Upon disposal, the cumulative gain and losses in OCI are recognized in the income statements. (c) Fair value through profit or loss (FVTPL) Financial assets that do not contain contractual terms that give rise on specified dates to cash flows that are SPPI, or if the financial assets, or if the financial asset is not held in a business model that is either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling. Financial assets held for trading are recognized at fair value through profit or loss, likewise derivatives contracts for trading purposes. (d) Equity instruments For certain equity instruments, the Bank may make an irrevocable election to present subsequent changes in the fair value of the instrument in other comprehensive income, except for dividend income which is recognized in profit or loss. Gains or losses on derecognition of these equity instruments are not transferred to profit or loss. iii) Subsequent measurement- financial liabilities After initial recognition, the Bank shall measure a financial liability at amortized cost. III. Derecognition of financial assets and liabilities Financial assets are derecognized when, and only when: ● the contractual rights to the cash flows from the financial asset expire, or ● the Bank transfers substantially all the risks and rewards of ownership of the financial asset, and therefore the Bank derecognizes the financial asset and recognize separately any rights and obligations created or retained in the transfer. In some cases, the Bank enters into transactions for which it retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows in an arrangement that meets all the conditions required, i.e. the Bank only transfers collected amounts from original assets, selling or pledging original assets is prohibited, and the Bank has the obligation to remit cash flows collected without material delay. When a financial asset is sold and the Bank simultaneously agrees to repurchase it (or an asset that is substantially the same) at a fixed price on a future date, the Bank continues to recognize the financial assets in their entirety in the statements of financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Financial liabilities are derecognized when, and only when, they are extinguished, cancelled or expired. 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, 2020 and 2019 the Bank does not have balance offsetting of financial instruments. |
Definitions and classification of financial instruments – under IAS 39 (prior to January 1, 2018) | h) Definitions and classification of financial instruments – under IAS 39 (prior to January 1, 2018) i. Definitions A “financial instrument” is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An “equity instrument” is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A “financial derivative” is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument’s price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. “Hybrid financial instruments” are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), ‘held to maturity investments’, ‘available for sale investments (AFS)’ and ‘loans and accounts receivable from customers. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognized and derecognized on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Effective interest method The effective interest method is a method of calculating the amortized 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 recognized 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 recognized in profit or loss. The net gain or loss recognized 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 amortized 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 recognized in profit or loss. Other changes in the carrying amount of available for sale investments are recognized 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 recognized 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 recognized in profit or loss are determined based on the amortized 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 amortized cost using the effective interest method, less any impairment. Interest income is recognized 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 derecognized 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 amortized cost, except for: Financial liabilities at FVTPL As of December 31, 2020 and 2019 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 amortized 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, 2020 and 2019 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 derecognized 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 derecognized 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 amortized cost. - Both the income from the transferred (but not removed) financial asset as well as any expenses incurred due to the new financial liability. iii. If the Bank neither transfers nor substantially retains all the risks and rewards of ownership associated with the transferred financial asset—as in the case of sales of financial assets with a purchased call option or written put option that is not deeply in or out of the money, securitization of assets in which the transferor retains a subordinated debt or other type of credit enhancement for a portion of the transferred asset, and other similar cases—the following distinction is made: a. If the transferor does not retain control of the transferred financial asset: the asset is derecognized from the Consolidated Statements of Financial Position and any rights or obligations retained or created in the transfer are recognized. b. If the transferor retains control of the transferred financial asset: it continues to be recognized in the Consolidated 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 amortized cost of the rights and obligations retained, if the transferred asset is measured at amortized cost, or the fair value of the rights and obligations retained, if the transferred asset is measured at fair value. Accordingly, financial assets are only derecognized from the Consolidated 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 derecognized 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 6). 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 (macrohedges), 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 amortized to gain or loss from that date, where applicable. When cash flow hedges are discontinued, any cumulative gain or loss of the hedging instrument recognized under “Other comprehensive income” (from the period when the hedge was effective) remains recorded in equity until the hedged transaction occurs, at which time it is recorded in the Consolidated 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 recognized at fair value which, in the absence of evidence to the contrary, is deemed to be the transaction price. Financial instruments, other than those measured at fair value through profit or loss, are initially recognized at fair value plus transaction costs. Subsequently, and at the end of each reporting period, financial instruments are measured pursuant to the following criteria: i. Valuation of financial instruments Financial assets are measured according to their fair value, gross of any transaction costs that may be incurred in the course of a sale, except for loans and accounts receivable from customers. “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When measuring fair value an entity shall take into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability, or (b) in the absence of a principal market, the most advantageous market for the asset or liability. Even when there is no observable market to provide pricing information in connection with the sale of an asset or the transfer of a liability at the measurement date, the fair value measurement shall assume that the transaction takes place, considered from the perspective of a potential market participant who intends to maximize value associated with the asset or liability. When using valuation techniques, the Bank shall maximize the use of relevant observable inputs and minimize the use of unobservable inputs as available. If an asset or a liability measured at fair value has a bid price and an ask price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy (i.e. Level 1, 2 or 3). IFRS 13 establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). All derivatives are recorded in the Consolidated Statements of Financial Position at the fair value previously described. This value is compared to the valuation as at the trade date. If the fair value is subsequently measured positive, this is recorded as an asset. If the fair value is subsequently measured negative, this is recorded as a liability. The fair value on the trade date is deemed, in the absence of evidence to the contrary, to be the transaction price. The changes in the fair value of derivatives from the trade date are recorded in “Net income (expense) from financial operations” in the Consolidated 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, 2020 and 2019 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) Recognizing income and expenses The most significant criteria used by the Bank to recognize its revenues and expenses are summarized as follows: i. Interest revenue, interest expense, and similar items Interest income is calculated by applying the effective interest rate to the gross carrying amount of financial assets, except for financial assets that have subsequently become credit-impaired (or ’stage 3’), for which interest revenue is calculated by applying the effective interest rate to their amortized cost (i.e. net of the ECL provision). ii. Commissions, fees, and similar items Fee and commission income and expenses are recognized 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: include mainly expenses generated from online services. The Bank has incorporated disaggregated revenue and expense disclosures and reportable segment relationship in Note 27. 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. 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 recognized immediately in profit or loss. In connection with other assets, impairment losses recorded in prior periods are assessed at each reporting date to determine whether the loss has decreased and should be reversed. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years. Goodwill impairment is not reversed. |
Property, plant, and equipment | 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 (Months) Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 The consolidated entities assess at each reporting date whether there is any indication that the carrying amount of any tangible asset exceeds its recoverable amount. If this is the case, the carrying amount of the asset is reduced to its recoverable amount and future depreciation charges are adjusted in accordance with the revised carrying amount and to the new remaining useful life. The estimated useful lives of the items of property, plant and equipment held for own use are reviewed at the end of each reporting period to detect significant changes. If changes are detected, the useful lives of the assets are adjusted by correcting the depreciation charge to be recorded in the Consolidated 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 recognizes 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, 2020 is 1.45%. 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 amortized 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 recognize 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 recognizes 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, 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 January 1, 2019 as short-term leases. ● excluding initial direct costs for the measurement of the right-of-use asset at the date of initial application. The Bank has also elected not to reassess whether a contract is or contains a lease at the date of initial application. Instead, for contracts entered into before the transition date the Bank relied on its assessment made applying IAS 17 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 recognizes 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 recognized as lending to third parties under “Loans and accounts receivable from customers” in the Consolidated Statements of Financial Position, the sum of the present value of the lease payments receivable from the lessee, including the exercise price of the lessee’s purchase option at the end of the lease term, when at the inception of the lease it is reasonably certain that the lessee will exercise the option. When consolidated entities acts as lessees, the leased assets are classified based on their nature in the Consolidated Statements of Financial Position, and recognizing an asset and liability at the same amount (the lower between the fair value of the leased property and the present value of the minimum lease payments, plus purchase option). These assets are depreciated in accordance with property, plant and equipment for own use criterion. In both cases, 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 amortized over the period of use of the asset. In the case of finance leasebacks, the profit or loss generated is amortized over the lease term. |
Intangible assets | 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 amortized 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 amortized cost as a loss allowance in the statements of financial position, but the carrying amount of these assets is stated net of the loss allowance. ECL related to contingent loans is accounted as a provision in the statements of financial position. The Bank recognizes in profit or loss, as an impairment gain or loss, the amount of ECL (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized in accordance IFRS 9, for financial assets measured at amortized 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 recognized, the Bank recognizes an allowance based on 12 months ECL. Stage 1 loans also include facilities where the credit risk has improved and the loan has been returned to Stage 1. ● Stage 2: When a loan has shown a significant increase in credit risk since origination, the Bank records an allowance 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 derecognized and is still in the portfolio. LGD: The loss given default is an estimate of the loss arising in the case where a default occurs at a given time. It is based on the difference between the contractual cash flows due and those that the lender would expect to receive, including from the realization of any collateral. EAD: The Exposure at default is an estimate of the exposure at a future default date, taking into account expected changes in the exposure after the reporting date, including repayments of principal and interest, whether scheduled by contract or otherwise, expected drawdown on committed facilities, and accrued interest from missed payments. 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 recognized on the statements of financial position, they contain credit risk and, therefore, form part of the overall risk of the Bank. When the Bank estimates the ECL for contingent loans, it estimates the expected portion of the loan commitment that will be drawn down over its expected life. iii. Forward looking information The ECL model includes a broad range of forward-looking information as economic inputs, such as: ● GDO growth ● Unemployment rates ● Central Banks interest rates ● Real estate prices iv. Modifications of financial assets When loan measured at amortized cost has been renegotiated or modified but not derecognized, the Bank recognizes the resulting gains or losses as the difference between the carrying amount of the original loans and modified contractual cash flows discounted using the EIR before modification. 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 vii. Covid-19 support measures The COVID-19 pandemic has had a major impact on Chile and global economies in 2020. As a result, the Chilean government has announced a series of measures to support lending. The largest measure was to provide additional funds to the Guarantee Fund for Small Companies (Fogape), a state fund that guarantees loans, leases and other credits provided to small businesses, extend Fogape’s coverage to companies with annual sales of up to UF 1 million and further amend the rules and regulations governing Fogape to encourage banks to provide lending to small businesses. Under Fogape’s new regulations, domestic banks, including us, may provide loans with preferential interest rates equal to the MPR plus 3% and terms of up to 48 months to eligible companies in an aggregate amount equal to up to 3 months of a company’s sales and receive a guarantee from Fogape for between 60% and 85% of each loan (“Fogape loans”). Such loans must have a 6-month grace period before a company must begin paying the loan. In addition, companies that receive loans guaranteed by Fogape pursuant to these new regulations, will also have payment holiday for all other outstanding loans until a period of 6 months. Additionally, the Bank – in accordance with CMF’s instruction to facilitate access to credit for companies and household - has provided payment holiday terms of up to three months to mortgage customers with no more 30 days past due. This was extended by a further three months for customers in need. For consumer loans, the Bank has granted benefits such as a 3-month grace period to start paying, increases in terms, decreases in installments, and has even opted for current lower market rates. Customers who sought COVID-19 related support, including payment holidays, were not the subject of any wider SICR triggers, and do not have to be moved to Stage 2 for a lifetime ECL assessment unless they had triggered other SICR criteria, and payment holidays also did not cause accounts to become past due and therefore did not automatically trigger a Stage 2 or Stage 3 lifetime ECL assessment. The assessment of SICRs and the measurement of ECLs are required to be based on reasonable and supportable information that is available to an entity without undue cost or effort. The Bank has developed estimates based on the best available information about past events, current conditions and forecasts of economic conditions. In assessing forecast conditions, the Bank has considered the effects of COVID-19 and the support measures being undertaken. Despite of the above, with current COVID-19 infection rates having increased and continued high levels of uncertainty in the macro-economic outlook and to address a potential lag in defaults, the Bank has decided not to make changes over IFRS9 models regarding COVID-19, but rather has established management overlay or post-model adjustments for 2020 expected credit losses allowance. See Note N°37, Risk management. |
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 90days), 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 recognized 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 recognized in the Consolidated Statements of Financial Position when the Bank: i. has a present obligation (legal or constructive) as a result of past events, and ii. it is probable that an outflow of resources will be required to settle these obligations and the amount of these resources can be reliably measured. Contingent assets or contingent liabilities are any potential rights or obligations arising from past events whose existence will be confirmed only by the occurrence or non-occurrence if one or more uncertain future events that are not wholly within control of the Bank. The Consolidated 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 recognized. Partial or total reversals are recognized when such liabilities cease to exist or are reduced. Provisions are classified according to the obligation covered as follows: - Provision for employee salaries and expenses - Provision for mandatory dividends - Provision for contingent credit risks - Provisions for contingencies |
Deferred income taxes and other deferred taxes | 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 credit losses. 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. 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. ● additionally, 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 recognize 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. Events or circumstances may extend the period to complete the sale beyond one year. An extension of the period required to complete a sale does not preclude an asset from being classified as held for sale if the delay is caused by events or circumstances beyond the entity’s control and there is sufficient evidence that the entity remains committed to its plan to sell the asset. As of December 31, 2020, the Bank has sold its investment in Nexus, while held its investment on Transbank and Redbanc (classified as held for sale), mainly to circumstances raised that were previously considered unlikely, such as social unrest and pandemic, and the consequent health and economic crisis. However, the Bank continues committed to its selling plan and its acquiring network development plan, as evidenced by the recent creation of a payment card operating company and the active search for potential buyers Assets received or awarded in lieu of payment Assets received or awarded in lieu of payment of loans and accounts receivable from clients are recognized at their fair value (as determined by an independent appraisal). A price is agreed upon by the parties through negotiation or, when the parties do not reach an agreement, at the amount at which the Bank is awarded those assets at a judicial auction. In the both cases, an independent appraisal is performed. The excess of the outstanding loan balance over the fair value is charged to net income for the period, under “Provision for loan losses”. Any excess of the fair value over the outstanding loan balance, less costs to sell of the collateral, is returned to the client. These assets are subsequently adjusted to their net realizable value less cost to sale (assuming a forced sale). The difference between the carrying value of the asset and the estimated fair value less costs to sell is charged to net income for the period, under “Other operating expenses”. The result obtained in the sale of the asset is subsequently recorded under “Other operating income”. Independent appraisals are obtained at least every 18 months and fair values are adjusted accordingly. No adjustments have been made between appraisals with respect to the period covered by these financial statements considering the stability of the real estate market in Chile during past years and expected stability of the real estate market in the coming years. At least once a year, the Bank performs the necessary analysis to update the “cost to sale” of assets received or awarded in lieu of payments. According to the Bank’s survey, as of December 31, 2020 the average cost to sale was estimated at 3.2% of the appraisal value (3.1% as of December 31, 2019). |
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, 2020, and 2019 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, 2020 and 2019 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 recognized in profit or loss for the period; - net interest on the liability (asset) for net defined benefit, which is recognized in profit or loss for the period; - new liability (asset) remeasurements for net defined benefit include: (a) actuarial gains and losses; (b) the difference between the actual return on plan assets and the interest on plan assets included in the net interest component and; (c) changes in the effect of the asset ceiling. The liability (asset) for net defined benefit is the deficit or surplus, determined as the difference between the present value of the defined benefit obligation less the fair value of plan assets. Plan assets comprise the pension fund taken out by the Group with a third party that is not a related party. These assets are held by an entity legally separated from the Bank and exist solely to pay benefits to employees. The Bank recognizes the present service cost and the net interest of the Personnel salaries and expenses on the Consolidated Statements of Income. The post-employment benefits liability, recognized 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, recognizing 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: Conceptual Framework for Financial Reporting 2018 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 combinations 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 implementation of this standard did 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 did not have a material impact on the consolidated financial statements of the Bank. Amendments to IFRS 16 – COVID-19 Related Rent Concessions 1. provide lessees with an exemption from assessing whether a COVID-19 related rent concession is a lease modification; 2. require lessees that apply the exemption to account for COVID-19 related rent concessions as if they were not lease modifications; 3. require lessees that apply the exemption to disclose that fact; and 4. require lessees to apply the exemption retrospectively in accordance with IAS 8, but do not require them to restate prior period figures. The amendment is effective for annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted, including in financial statements not yet authorized for issue at May 28, 2020. The amendments did not have a material impact on the consolidated financial statements of the Bank. 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, 2020. Although in some cases the early application is permitted by the IASB, the Bank has not taken that option. Amendments to IFRS 10 and IAS 28 - Sale or Contributions of Assets between an Investor and its Associate or Joint Venture. ● requires full recognition in the investor’s financial statements of gains and losses arising on the sale or contribution of assets that constitute a business (as defined in IFRS 3 Business Combinations); ● requires the partial recognition of gains and losses where the assets do not constitute a business, i.e. a gain or loss is recognized only to the extent of the unrelated investors’ interests in that associate or joint venture. On December 17, 2015 the IASB has published final amendments to “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”. The amendments defer the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded. The Bank’s management has considered that these amendments will not have a material impact on the consolidated financial statements of the Bank. Amendments to IAS 1 - Classification of liabilities as current or non-current ● clarify that the classification of liabilities should be based on rights that are in existence at the end of the reporting period and align the wording in all affected paragraphs to refer to the “right” to defer settlement by at least twelve months and make explicit that only rights in place “at the end of the reporting period” should affect the classification of a liability; ● clarify that classification is unaffected by expectations about whether an entity will exercise its right to defer settlement of a liability; and ● make clear that settlement refers to the transfer to the counterparty of cash, equity instruments, other assets or services. The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively. Earlier application is permitted. The Bank’s management is evaluating the potential impact of this standards on the consolidated financial statements of the Bank. Annual Improvements to IFRS Standards 2018–2020. 1. IFRS 1 First-time Adoption of International Financial Reporting Standards 2. IFRS 9 Financial Instruments 3. IFRS 16 Leases 4. IAS 41 Agriculture The amendments to IFRS 1, IFRS 9, and IAS 41 are effective for annual periods beginning on or after January 1, 2022. Early application is permitted. The amendment to IFRS 16 only regards an illustrative example, so no effective date is stated. The Bank’s management is evaluating the potential impact of this standards. Amendments to IAS 16 Property, Plant and Equipment — Proceeds before Intended Use. The Bank’s management is evaluating the potential impact of this standards. Amendments to IAS 37 Onerous Contracts — Cost of Fulfilling a Contract The Bank’s management is evaluating the potential impact of this standards. Amendments to IFRS 3 - Reference to the Conceptual Framework ● update IFRS 3 so that it refers to the 2018 Conceptual Framework instead of the 1989 Framework; ● add to IFRS 3 a requirement that, for transactions and other events within the scope of IAS 37 or IFRIC 21, an acquirer applies IAS 37 or IFRIC 21 (instead of the Conceptual Framework) to identify the liabilities it has assumed in a business combination; and ● add to IFRS 3 an explicit statement that an acquirer does not recognize contingent assets acquired in a business combination. The amendments are effective for annual periods beginning on or after January 1, 2022. Early application is permitted if an entity also applies all other updated references (published together with the updated Conceptual Framework) at the same time or earlier. The Bank’s management is evaluating the potential impact of this standards. Interest rate benchmark reform - phase 2 The amendments complement those issued in 2019 and focus on the effects on financial statements when a company replaces the old interest rate benchmark with an alternative benchmark rate as a result of the reform. The amendments in this final phase relate to: ● changes to contractual cash flows—a company will not have to derecognize or adjust the carrying amount of financial instruments for changes required by the reform, but will instead update the effective interest rate to reflect the change to the alternative benchmark rate; ● hedge accounting—a company will not have to discontinue its hedge accounting solely because it makes changes required by the reform, if the hedge meets other hedge accounting criteria; and ● disclosures—a company will be required to disclose information about new risks arising from the reform and how it manages the transition to alternative benchmark rates. These amendments are effective for annual reporting periods beginning on or after January 1, 2021, with early adoption permitted. The Bank has not early adopted these standards; however it is conducting a process for the discontinuation of the IBOR benchmark. The Bank does not expect to have a significant impact on the adoption of this standard. See more details in Note N°37 Risk management. Accounting changes The Company changed the manner in which it accounts for leases in 2019, by adopting IFRS 16 starting January 1 of 2019. In addition they changed the manner in which it accounts for financial instruments in 2018, by adopting IFRS 9 starting January 1, 2018. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant accounting policies [text block] [Abstract] | |
Schedule of subsidiaries | The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2020 2019 2018 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander 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 50.10 - 50.10 - - - Santander Consumer Chile S.A. (3) Financing Santiago, Chile 51.00 - 51.00 51.00 - 51.00 - - - Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. (4) Card operator Santiago, Chile 99.99 0.01 100.00 - - - - - - (1) On December 18, 2019, Santander Agente de Valores Limitada changed 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 is 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. (4) On July 6, 2020, Banco Santander registered as a new subsidiary and business support company named “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A”. |
Schedule of associates | The following companies are considered “Associates” in which the Bank accounts for its participation using the equity method: Percentage of ownership share As of December 31, Place of 2020 2019 2018 Associates Main activity Incorporation and % % % operation Redbanc S.A. (*) ATM services Santiago, Chile - - 33.43 Transbank S.A. (*) Debit and credit card services Santiago, Chile - - 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 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. and Transbank S.A. therefore it has been classified in accordance to IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations” as investment available for sale. Otherwise its share participation in Nexus S.A., has been sold. See Note N°38. |
Schedule of useful lives for the tangible assets | ITEM Useful life (Months) Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 |
Schedule of 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 Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months |
Significant Events (Tables)
Significant Events (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Significant Events Explanatory [Abstract] | |
Schedule of senior bonds | Series Currency Term Issuance Issuance Amount Maturity Bonos USD USD 5 years 2.70% 01-07-2020 750,000,000 01-07-2025 Total USD 750,000,000 Series Currency Term Issuance rate (annual) Issuance Amount Maturity Bonos USD USD 10 years 3.79% 01-21-2020 200,000,000 01-21-2030 Total USD 200,000,000 USTDW20320 UF 15 years and 3 months 3.50% 03-01-2020 5,000,000 09-01-2035 Total UF 5,000,000 |
Reporting Segments (Tables)
Reporting Segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of entity's operating segments [text block] [Abstract] | |
Schedule of reporting segment | For the year ended December 31, 2020 Loans and Net interest income Net fee and commission income Financial transactions, Expected Support expenses (3) Segment’s MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 24,279,248 1,049,543 213,431 28,577 (317,050) (596,464) 378,038 Middle-market 8,136,402 346,225 38,335 21,859 (109,999) (91,132) 205,287 CIB 1,635,217 114,229 23,180 82,303 (51,097) (72,715) 95,900 Other 289,026 83,851 (7,668) 17,058 (118) (8,235) 84,888 Total 34,339,893 1,593,848 267,278 149,797 (478,264) (768,546) 764,113 Other operating income 8,206 Other operating expenses and impairment (78,444) Income from investments in associates and other companies 1,388 Income tax expense (142,533) Result of continuing operations 552,730 Result of discontinued operations - Net income for the year 552,730 For the year ended December 31, 2019 Loans and accounts receivable at amortized cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected 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) 363,934 Middle-market 8,093,496 298,587 38,712 13,535 (38,746) (97,054) 215,034 CIB 1,603,633 98,154 29,103 94,761 223 (65,343) 156,898 Other 48,009 59,862 (11,356) 64,970 (4,819) (11,953) 96,704 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 For the year ended December 31, 2018 Loans and accounts receivable at amortized cost (1) Net interest income Net fee and commission income Financial transactions, net (2) Expected 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 CIB 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 at amortized 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. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | As of December 31, 2020 2019 Cash and deposits in banks Cash 665,397 861,178 Deposits at the Central Bank of Chile 1,313,394 1,731,079 Deposits in local banks 1,571 948 Deposits in banks abroad 822,926 961,315 Subtotals – Cash and deposits in banks 2,803,288 3,554,520 Net cash items in process of collection 91,332 156,814 Cash and cash equivalents 2,894,620 3,711,334 |
Schedule of cash in process of collection and in process | As of December 31, 2020 2019 Assets Documents held by other banks (documents to be cleared) 137,396 217,394 Funds receivable 315,567 137,668 Subtotal 452,963 355,062 Liabilities Funds payable 361,631 198,248 Subtotal 361,631 198,248 Cash in process of collection, net 91,332 156,814 |
Financial Assets Held for Tra_2
Financial Assets Held for Trading (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Assets Held For Trading Trading Investments Explanatory [Abstract] | |
Schedule of instruments deemed as financial trading investments | As of December 31, 2020 2019 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 419 1,952 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 131,827 268,252 Subtotal 132,246 270,204 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds 1,472 - Other Chilean securities - - Subtotal 1,472 - Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - - Subtotal - Investments in mutual funds Funds managed by related entities - - Funds managed by others - - Subtotal - - Total 133,718 270,204 |
Investments under Resale Agre_2
Investments under Resale Agreements and Obligations under Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of repurchase and reverse repurchase agreements [text block] [Abstract] | |
Schedule of selling financial instruments | As of December 31, 2020 2019 From 1 day More than 3 More than Total From 1 day More than 3 More Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - - - - - Chilean Central Bank Notes 461.961 - - 461.961 - - - - Other securities from the Government and the Chilean Central Bank 507.448 - - 507.448 379,891 33 - 379,924 Subtotal 969.409 - - 969.409 379,891 33 - 379,924 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 399 - - 399 127 4 - 131 Subtotal 399 - - 399 127 4 - 131 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - - - Subtotal - - - - Total 969,808 - - 969,808 380,018 37 - 380,055 |
Schedule of portfolio of collateral associated with repurchase agreements at fair value | As of December 31, 2020 2019 Debt Financial Total Debt Financial Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - - - - Chilean Central Bank Notes 461,965 - 461,965 - - - Other securities from the Government and the Chilean Central Bank 507,543 - 507,543 379,924 - 379,924 Subtotal 969,508 - 969,508 379,924 - 379,924 Other Chilean securities: Time deposits in Chilean financial institutions 399 - 399 131 - 131 Subtotal 399 - 399 131 - 131 Instruments from other foreign institutions: Securities from Government or foreign Central Banks - - - - - - Subtotal - - - - - - Total 969,907 969,907 380,055 - 380,055 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedge Accounting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of derivative financial instruments [text block] [Abstract] | |
Schedule of portfolio of derivative instruments | As of December 31, 2020 Notional amount Fair value Up to 3 More than 3 More than Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 50,000 410,687 5,064,113 5,524,800 33,816 83,666 Cross currency swaps 317,400 601,987 5,634,700 6,554,087 294,562 178,529 Subtotal 367,400 1,012,674 10,698,813 12,078,887 328,378 262,195 Cash flow hedge derivatives Currency forwards 2,121,326 503,280 601,582 3,226,188 2,985 3,556 Cross currency swaps 424,358 498,373 9,777,491 10,700,222 35,902 183,386 Subtotal 2,545,684 1,001,653 10,379,073 13,926,410 38,887 186,942 Trading derivatives Currency forwards 22,729,787 12,175,074 8,215,576 43,120,437 1,085,327 1,158,904 Interest rate swaps 14,006,503 22,118,742 97,803,009 133,928,254 3,651,651 3,588,912 Cross currency swaps 6,719,065 15,138,056 138,352,345 160,209,466 3,921,440 3,819,446 Call currency options 129,339 31,641 57,581 218,561 1,527 909 Put currency options 112,145 16,173 58,276 186,594 4,875 1,352 Subtotal 43,696,839 49,479,686 244,486,787 337,663,312 8,664,820 8,569,523 Total 46,609,923 51,494,013 265,564,673 363,668,609 9,032,085 9,018,660 As of December 31, 2019 Notional amount Fair value Up to 3 More than 3 More than 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 |
Schedule of fair value hedges | As of December 31, 2020 Within 1 year Between 1 and Between 3 and Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Debt instruments at FVOCI Chilean sovereign bonds 10,687 10,687 138,044 249,440 408,858 Mortgage financing bonds - 918 - - 918 US Treasury bonds - - 178,118 - 178,118 Time deposits and other time liabilities Time deposits 58,238 58,217 - - 116,455 Issued debt instruments Senior bonds 88,023 801,349 2,112,831 1,220,521 4,222,724 Subordinated bonds - - 249,363 142,494 391,857 Interbank borrowing Chilean Central Bank loans - - 3,865,000 - 3,865,000 Total 156,948 871,171 6,543,356 1,612,455 9,183,930 Hedging instrument Cross currency swaps 96,261 835,484 2,056,864 1,220,521 4,209,130 Interest rate swaps 60,687 35,687 4,486,492 391,934 4,974,800 Total 156,948 871,171 6,543,356 1,612,455 9,183,930 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 Debt instruments at FVOCI Chilean sovereign bonds - - 5,605 394,690 400,295 Mortgage financing bonds - 2,728 - - 2,728 US 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 3,324,100 7,363,371 Total 1,336,940 1,962,401 2,634,486 3,756,158 9,689,985 Hedging instrument Cross currency swaps 637,692 1,602,401 2,229,407 3,324,099 7,793,599 Interest rate swaps 699,248 360,000 405,079 432,059 1,896,386 Total 1,336,940 1,962,401 2,634,486 3,756,158 9,689,985 |
Schedule of notional amount of the hedged | As of December 31, 2020 Within 1 Between 1 and Between 3 and Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortized cost Mortgage loans 1,926,918 2,520,951 2,761,742 2,084,180 9,293,791 Debt instruments at FVOCI Chilean sovereign bonds - - 42,532 - 42,532 Chilean Treasury bonds - 175,875 891,791 196,428 1,264,094 Issued debt instruments Senior bonds (variable rate) 167,430 - - - 167,430 Senior bonds (fixed rate) 1,125,253 610,385 643,700 415,865 2,795,203 Interbank borrowings Interbank loans 327,736 35,624 - - 363,360 Total 3,547,337 3,342,835 4,339,765 2,696,473 13,926,410 Hedging instrument Cross currency swaps 922,731 2,741,253 4,339,765 2,696,473 10,700,222 Currency forwards 2,624,606 601,582 - - 3,226,188 Total 3,547,337 3,342,835 4,339,765 2,696,473 13,926,410 As of December 31, 2019 Within 1 Between 1 and Between 3 and Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable at amortized 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 |
Schedule of forecasted cash flows for interest rate risk | As of December 31, 2020 Within 1 Between 1 and 3 Between 3 and 6 Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 18,219 2,284 2,512 - 23,015 Outflows (90,303) (123,604) (104,198) (83,397) (401,502) Net flows (72,084) (121,320) (101,686) (83,397) (378,487) Hedging instrument Inflows 90,303 123,604 104,198 83,397 401,502 Outflows (*) (18,219) (2,284) (2,512) - (23,015) Net flows 72,084 121,320 101,686 83,397 378,487 As of December 31, 2019 Within 1 year Between 1 and 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 |
Schedule of forecasted cash flows for inflation risk | As of December 31, 2020 Within 1 year Between 1 and Between 3 and Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 114,734 257,698 457,046 406,499 1,235,977 Outflows (32,238) (19,702) (55,388) (26,993) (134,321) Net flows 82,496 237,996 401,658 379,506 1,101,656 Hedging instrument Inflows 32,238 19,702 55,388 26,993 134,321 Outflows (114,734) (257,698) (457,046) (406,499) (1,235,977) Net flows (82,496) (237,996) (401,658) (379,506) (1,101,656) As of December 31, 2019 Within Between 1 and Between 3 and Over 6 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) |
Schedule of market adjustment of cash flow hedges produced by hedge instruments | As of December 31, Hedged item 2020 2019 MCh$ MCh$ Interbank loans (962) (1,872) Issued debt instruments (6,990) (16,345) Debt instruments at FVOCI (25,833) (2,905) Loans and accounts receivable at amortized cost (102,980) (19,313) Total (136,765) (40,435) |
Schedule of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Bond hedging derivatives (3,149) (120) - Interbank loans hedging derivatives 1 (955) (683) Cash flow hedge net gain (loss) (3,148) (1,075) (683) |
Schedule of macro-hedges | Notional amount As of December 31, 2020 Within 1 Between Between 3 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortized cost Mortgage loans 823,126 786,352 - 735,479 2,344,957 Commercial loans 400,000 150,000 - - 550,000 Total 1,223,126 936,352 - 735,479 2,894,957 Hedging instrument Cross currency swaps 823,126 786,352 - 735,479 2,344,957 Interest rate swaps 400,000 150,000 - - 550,000 Total 1,223,126 936,352 - 735,479 2,894,957 Notional amount As of December 31, 2019 Within 1 Between Between 3 Over 6 Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedge item Loans and account receivable at amortized cost Mortgage loans 633,300 1,189,037 1,545,239 3,466,875 6,834,451 Commercial loans - 600,000 50,000 - 650,000 Total 633,300 1,789,037 1,595,239 3,466,875 7,484,451 Hedging instrument Cross currency swaps 633,300 1,189,037 1,545,239 3,466,875 6,834,451 Interest rate swaps - 600,000 50,000 - 650,000 Total 633,300 1,789,037 1,595,239 3,466,875 7,484,451 |
Loans and Accounts Receivable_3
Loans and Accounts Receivable at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Loans and Accounts Receivable at Amortized Cost (Tables) [Line Items] | |
Schedule of loan portfolio composition | Assets before allowances ECL allowance (*) As of December 31, 2020 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Interbank loans 18,930 - - 18,930 1 - - 1 18,929 Commercial loans 11,453,377 1,285,770 751,471 13,490,618 60,987 87,295 349,864 498,146 12,992,472 Foreign trade loans 979,014 221,074 39,183 1,239,271 5,323 2,786 33,152 41,261 1,198,010 Checking accounts debtors 92,789 21,315 11,506 125,610 1,253 1,524 8,825 11,602 114,008 Factoring transactions 486,587 7,207 3,885 497,679 1,397 387 2,345 4,129 493,550 Student loans 49,768 4,905 8,707 63,380 1,551 714 6,533 8,798 54,582 Leasing transactions 1.015.298 267.062 72.797 1.355.157 7,377 14,934 37,376 59,687 1,295,470 Other loans and account receivable 163.035 10.973 22.536 196.544 2,643 2,127 16,678 21,448 175,096 Subtotal 14.258.798 1.818.306 910.085 16.987.189 80,532 109,767 454,773 645,072 16,342,117 Mortgage loans Loans with mortgage finance bonds 6,859 546 404 7,809 16 11 57 84 7,725 Endorsable mortgage mutual loans 86,786 2,463 3,711 92,960 221 63 474 758 92,202 Other mortgage mutual loans 11,424,718 389,363 496,975 12,311,056 24,828 8,367 78,485 111,680 12,199,376 Subtotal 11,518,363 392,372 501,090 12,411,825 25,065 8,441 79,016 112,522 12,299,303 Consumer loans Installment consumer loans 3,221,617 211,348 255,627 3,688,592 76,140 26,737 152,639 255,516 3,433,076 Credit card balances 1,097,680 20,380 7,848 1,125,908 10,781 4,141 5,037 19,959 1,105,949 Leasing transactions 2,956 139 26 3,121 29 22 16 67 3,054 Other consumer loans 116,910 4,728 1,620 123,258 1,875 832 950 3,657 119,601 Subtotal 4,439,163 236,595 265,121 4,940,879 88,825 31,732 158,642 279,199 4,661,680 Total 30,216,324 2,447,273 1,676,296 34,339,893 194,422 149,940 692,431 1,036,793 33,303,100 Assets before allowances ECL allowance As of December 31, 2019 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Net 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 24,897 218,328 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 |
Commerical Loans [Member] | |
Loans and Accounts Receivable at Amortized Cost (Tables) [Line Items] | |
Schedule of gross carrying amount expected credit loss | Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Gross carrying amount at 10,208,264 3,594,359 1,004,967 240,100 401,007 413,628 15,862,325 Transfers: Transfers from stage 1 to stage 2 (1,355,492) (277,926) 1,355,492 277,926 - - - Transfers from stage 1 to stage 3 (2,492) (52,304) - - 2,492 52,304 - Transfers from stage 2 to stage 3 - - (198,124) (163,049) 198,124 163,049 - Transfers from stage 2 to stage 1 239,349 162,768 (239,349) (162,768) - - - Transfers from stage 3 to stage 2 - - 4,022 117,446 (4,022) (117,446) - Transfers from stage 3 to stage 1 - 138 - - - (138) - Net changes of financial assets 676,413 1,056,882 (337,291) (80,505) (537) (29,882) 1,285,080 Write-off - - - - (66,989) (101,548) (168,537) FX and other adjustments (1,243) 10,082 (2) (559) (9) 52 8,321 At December 31, 2020 9,764,799 4,493,999 1,589,715 228,591 530,066 380,019 16,987,189 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 21,539 35,888 30,389 25,555 196,165 197,033 506,569 Transfers Transfers to stage 2 (23,652) (16,137) 50,253 48,464 - - 58,928 Transfers to stage 3 (9) (3,007) - - 1,089 22,152 20,225 Transfers to stage 3 - - (25,214) (29,540) 73,885 55,645 74,776 Transfers to stage 1 2,919 4,921 (9,322) (20,605) - - (22,087) Transfers to stage 2 - - 943 4,424 (1,560) (22,995) (19,188) Transfers to stage 1 - 5 - - - (45) (40) Net changes of the exposure and modifications in credit risk 39,971 19,264 18,462 15,122 58,915 41,860 193,594 Write-off - - - - (66,989) (100,393) (167,382) FX and other adjustments (1,179) 9 (59) 895 - 11 (323) At December 31, 2020 39,589 40,943 65,452 44,315 261,505 193,268 645,072 Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective 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 from stage 1 to stage 2 (518,990) (347,678) 518,990 347,678 - - - Transfers from stage 1 to stage 3 - (41,696) - - - 41,696 - Transfers from stage 2 to stage 3 - - (132,136) (230,125) 132,136 230,125 - Transfers from stage 2 to stage 1 158,935 159,009 (158,935) (159,009) - - - Transfers from stage 3 to stage 2 - - 11,229 120,293 (11,229) (120,293) - Transfers from stage 3 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) FX and other adjustments 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 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective 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) FX and other adjustments 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 |
Residential Mortgage Loans [Member] | |
Loans and Accounts Receivable at Amortized Cost (Tables) [Line Items] | |
Schedule of gross carrying amount expected credit loss | Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 10,275,966 457,948 529,081 11,262,995 Transfers: Transfers from stage 1 to stage 2 (248,167) 248,167 - - Transfers from stage 1 to stage 3 (53,621) - 53,621 - Transfers from stage 2 to stage 3 - (215,547) 215,547 - Transfers from stage 2 to stage 1 321,954 (321,954) - - Transfers from stage 3 to stage 2 - 248,635 (248,635) - Transfers from stage 3 to stage 1 463 - (463) - Net changes of financial assets 1,221,898 (25,440) (22,147) 1,174,311 Write-off - - (25,831) (25,831) FX and other adjustments (130) 563 (83) 350 At December 31, 2020 11,518,363 392,372 501,090 12,411,825 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 8,446 14,509 78,104 101,059 Transfers Transfers from stage 1 to stage 2 (5,250) 12,502 - 7,252 Transfers from stage 1 to stage 3 (472) - 4,548 4,076 Transfers from stage 2 to stage 3 - (8,923) 20,034 11,111 Transfers from stage 2 to stage 1 3,187 (13,912) - (10,725) Transfers from stage 3 to stage 2 - 7,033 (28,146) (21,113) Transfers from stage 3 to stage 1 2 - (37) (35) Net changes of the exposure and modifications in credit risk 19,162 (2,791) 30,352 46,723 Write-off - - (25,831) (25,831) FX and other adjustments (10) 23 (8) 5 At December 31, 2020 25,065 8,441 79,016 112,522 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019 9,258,962 447,496 444,523 10,150,981 Transfers: Transfers from stage 1 to stage 2 (481,646) 481,646 - - Transfers from stage 1 to stage 3 (60,329) - 60,329 - Transfers from stage 2 to stage 3 - (333,706) 333,706 - Transfers from stage 2 to stage 1 361,293 (361,293) - - Transfers from stage 3 to stage 2 - 250,896 (250,896) - Transfers from stage 3 to stage 1 2,338 - (2,338) - Net changes of financial assets 1,131,941 (35,200) (24,539) 1,072,202 Write-off - - (34,184) (34,184) FX and other adjustments 63,407 8,109 2,480 73,996 At December 31, 2019 10,275,966 457,948 529,081 11,262,995 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2019 9,006 15,102 67,162 91,270 Transfers Transfers from stage 1 to stage 2 (3,318) 20,509 - 17,191 Transfers from stage 1 to stage 3 (311) - 5,994 5,683 Transfers from stage 2 to stage 3 - (12,598) 31,654 19,056 Transfers from stage 2 to stage 1 1,374 (13,849) - (12,475) Transfers from stage 3 to stage 2 - 8,341 (29,303) (20,962) Transfers from stage 3 to stage 1 6 - (193) (187) Net changes of the exposure and modifications in credit risk 1,655 (3,054) 32,561 31,162 Write-off - - (34,184) (34,184) FX and other adjustments 34 58 4,413 4,505 At December 31, 2019 8,446 14,509 78,104 101,059 |
Loans to consumers [member] | |
Loans and Accounts Receivable at Amortized Cost (Tables) [Line Items] | |
Schedule of gross carrying amount expected credit loss | Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 4,963,047 292,718 290,430 5,546,195 Transfers: Transfers from stage 1 to stage 2 (410,942) 410,942 - - Transfers from stage 1 to stage 3 (16,962) - 16,962 - Transfers from stage 2 to stage 3 - (223,169) 223,169 - Transfers from stage 2 to stage 1 238,800 (238,800) - - Transfers from stage 3 to stage 2 - 57,574 (57,574) - Transfers from stage 3 to stage 1 2,225 - (2,225) - Net changes of financial assets (337,006) (62,658) 13,765 (385,899) Write-off - - (219,402) (219,402) FX and other adjustments 1 (12) (4) (15) At December 31, 2020 4,439,163 236,595 265,121 4,940,879 Stage 1 Stage 2 Stage 3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 67,396 50,808 170,263 288,467 Transfers: Transfers from stage 1 to stage 2 (36,422) 95,850 - 59,428 Transfers from stage 1 to stage 3 (1,484) - 9,061 7,577 Transfers from stage 2 to stage 3 - (75,229) 108,792 33,563 Transfers from stage 2 to stage 1 13,589 (41,928) - (28,339) Transfers from stage 3 to stage 2 - 10,162 (28,649) (18,487) Transfers from stage 3 to stage 1 254 - (865) (611) Net changes of the exposure and 45,492 (7,926) 104,328 141,894 Write-off - - (204,286) (204,286) FX and other adjustments - (5) (2) (7) At December 31, 2019 88,825 31,732 158,642 279,199 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2019(*) 4,727,464 295,132 300,193 5,322,789 Transfers: Transfers from stage 1 to stage 2 (358,403) 358,403 - - Transfers from stage 1 to stage 3 (25,210) - 25,210 - Transfers from stage 2 to stage 3 - (248,494) 248,494 - Transfers from stage 2 to stage 1 130,611 (130,611) - - Transfers from stage 3 to stage 2 - 56,489 (56,489) - Transfers from stage 3 to stage 1 514 - (514) - Net changes of financial assets 430,777 (45,093) (3,605) 382,079 Write-off - - (223,919) (223,919) FX and other adjustments 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 TOTAL Collective Collective Collective 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) FX and other adjustments (1,378) 550 2,946 2,118 At December 31, 2019 67,396 50,808 170,263 288,467 |
Loans and Accounts Receivable_4
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income [Abstract] | |
Schedule of gross carrying amount | Stage1 Stage2 Stage3 TOTAL Individual Individual Individual MCh$ MCh$ MCh$ MCh$ Gross carrying amount at January 1, 2020 66,166 - - 66,166 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes on financial assets 3,857 - - 3,857 Write-off - - - - FX and other adjustments 662 - - 662 At December 31, 2020 70,685 - - 70,685 Stage 1 Stage 2 Stage 3 TOTAL Individual Individual Individual MCh$ MCh$ MCh$ MCh$ ECL allowance at January 1, 2020 101 - - 101 Transfers Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Net changes of the exposure and modifications in the credit risk 1,252 - - 1,252 Write-off - - - - FX and other adjustments 1 - - 1 At December 31, 2020 1,354 1,354 Stage1 Stage2 Stage3 TOTAL Individual Individual Individual 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 - - - - FX and other adjustments 993 (35) - 958 At December 31, 2019 66,166 - - 66,166 Stage 1 Stage 2 Stage 3 TOTAL Individual Individual Individual 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 65 (18) - 47 Write-off - - - - FX and other adjustments (52) - - (52) At December 31, 2019 101 - - 101 |
Debt Instruments at Fair Valu_2
Debt Instruments at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Instruments at Fair Value Through Other Comprehensive Income (Tables) [Line Items] | |
Schedule of debt instrument | As of December 31, 2020 2019 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds - 272,802 Chilean central bank notes 1,008,450 1,186,724 Other Chilean central bank and government securities (*) 5,344,910 1,908,031 Subtotal 6,353,360 3,367,557 of which sold under repurchase agreement 969,508 379,294 Other Chilean securities Time deposits in Chilean financial institutions 492 398 Mortgage finance bonds of Chilean financial institutions 14,022 16,748 Other instruments issued in the country 2,217 2,410 Subtotal 16,731 19,556 of which sold under repurchase agreement 399 131 Foreign financial securities Foreign Central Banks and Government securities 269,803 197,685 Other foreign financial securities 522,648 425,474 Subtotal 792,451 623,159 of which sold under repurchase agreement - - Total 7,162,542 4,010,272 (*) Includes Treasury bonds in Chilean pesos and UF. |
Schedule of available for sale investments cumulative unrealized profit and loss | (*) Includes Treasury bonds in Chilean pesos and UF. Less than 12 months More than 12 months Total Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds - - - - - - - - - - - - Chilean central bank notes 1,008,450 1,008,450 - - - - - - 1,008,450 1,008,450 - - Other Chilean central bank and government securities 5,288,189 5,344,910 96,180 (36,739) - - - - 5,288,189 5,344,910 96,180 (36,739) Subtotal 6,296,639 6,353,360 96,180 (36,739) - - - - 6,296,639 6,353,360 96,180 (36,739) Other Chilean securities Time deposits in Chilean financial institutions 299 299 - - - - - - 299 299 - - Mortgage finance bonds of Chilean financial institutions 13,293 14,022 729 - - - - - 13,293 14,022 729 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 305 2,410 2,105 - - - - - 305 2,410 2,105 - Subtotal 13,897 16,731 2,834 - - - - - 13,897 16,731 2,834 - Foreign financial securities Foreign central banks and government securities 269,477 269,803 20,267 (19,941) - - - - 269,477 269,803 20,267 (19,941) Other foreign financial securities 482,394 522,648 40,254 - - - - - 482,394 522,648 40,254 - Subtotal 751,871 792,451 60,521 (19,941) - - - - 751,871 792,451 60,521 (19,941) Total 7,062,407 7,162,542 159,535 (56,680) - - - - 7,062,407 7,162,542 159,535 (56,680) Less than 12 months More than 12 months Total Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss Amortized cost Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 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) |
Schedule of changes in the fair value and the corresponding ECL | Stage1 Stage2 Stage3 TOTAL Collective Collective Collective Gross carrying amount at January 1, 2020 4,010,272 - - 4,010,272 New assets purchased 14,708,776 - - 14,708,776 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognized or matured (excluding write-off) (11,440,253) - - (11,440,253) Changes due to modifications not derecognized 100,401 - - 100,401 Other adjustments (216,654) - - (216,654) At December 31, 2020 7,162,542 - - 7,162,542 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective ECL at January 1, 2020 456 - - 456 New assets purchased 1,965 - - 1,965 Transfers to stage 1 - - - - Transfers to stage 2 - - - - Transfers to stage 3 - - - - Assets derecognized or matured (excluding write-off) (1,501) - - (1,501) Changes due to modifications not derecognized 219 - - 219 Write-off - - - - Other adjustments (1) - - (1) At December 31, 2020 1,138 - - 1,138 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective 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 derecognized or matured (excluding write-off) (5,694,456) (5,694,456) Changes due to modifications not derecognized 394,648 - - 2,273,857 Write-off - - - - Other adjustments (657,908) - - (657,908) At December 31, 2019 4,010,272 - - 4,010,272 Stage1 Stage2 Stage3 TOTAL Collective Collective Collective 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 derecognized or matured (excluding write-off) (614) - - (614) Changes due to modifications not derecognized 67 - - 67 Write-off - - - - Other adjustments (71) - - (71) At December 31, 2019 456 - - 456 |
Schedule of gross profits and losses realized on the sale of available for sale investments | As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 3,696,791 5,781,636 3,505,266 Realized profits 82,925 63,828 8,802 Sale of available for sale investments generating realized losses 379,046 607,349 709,371 Realized losses 2,246 156 6,004 |
Investments in Associates and_2
Investments in Associates and other Companies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of interests in other entities [text block] [Abstract] | |
Schedule of investments in associates and other companies | Investment Ownership interest As of December 31, Carrying value As of December 31, Profit and loss As of December 31, 2020 % 2019 % 2018 % 2020 MCh$ 2019 MCh$ 2018 MCh$ 2020 MCh$ 2019 MCh$ 2018 MCh$ Redbanc S.A. (*) - - 33,43 - - 2,822 - - - Transbank S.A. (*) - - 25,00 - - 17,651 - - - Centro de Compensación Automatizado S.A. 33,33 33,33 33,33 2,788 2,184 1,894 603 293 305 Sociedad Interbancaria de Depósito de Valores S.A. 29,29 29,29 29,29 1,633 1,485 1,233 302 252 223 Cámara de Compensación de Alto Valor S.A. 15,00 15,00 15,00 971 958 945 28 29 58 Administrador Financiero del Transantiago S.A. 20,00 20,00 20,00 3,476 3,986 3,680 337 390 582 Sociedad Nexus S.A. (*) - - 12,90 - - 2,279 - - - Servicios de Infraestructura de Mercado OTC S.A. 12,07 12,07 12,48 1,528 1,556 1,491 (24) 60 57 Subtotal 10,396 10,169 31,995 1,246 1,024 1,225 Shares or rights in other companies Bladex - - - - 13 19 Stock Exchanges - - - 142 109 148 Others - 8 8 - - (67) Total 10,396 10,177 32,003 1,388 1,146 1,325 |
Schedule of fair value of these equity investments | December 31, 2020 2019 MCh$ MCh$ Bladex 310 328 Stock exchange 228 154 Others 10 - Total 548 482 |
Schedule of financial information of associates | As of December 31, 2020 2019 2018 Net income Net income Net income Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Redbanc S.A. - - - - 23,413 14,106 8,441 866 20,825 12,469 7,505 851 Transbank S.A. - - - - 1,217,448 1,133,441 70,605 13,402 904,558 835,200 56,888 12,470 Centro de Compensación Automatizado S.A. 11,134 2,953 6,371 1,810 8,550 1,998 5,671 881 7,073 1,480 4,677 916 Sociedad Interbancaria de Depósito de Valores S.A. 5,840 314 4,496 1,030 5,074 4 4,209 861 4,392 230 3,400 762 Cámara de Compensación de Alto Valor S.A. 7,158 722 6,246 190 7,372 986 6,193 193 6,728 622 5,722 384 Administrador Financiero del Transantiago S.A. 49,841 30,670 17,227 1,944 54,712 34,787 17,978 1,947 55,818 37,419 15,490 2,909 Sociedad Nexus S.A. - - - - 31,147 13,471 17,660 16 35,139 18,335 13,955 2,849 Servicios de Infraestructura de Mercado OTC S.A. 14,480 2,232 12,441 (193) 15,152 2,682 11,993 477 25,273 13,313 11,506 454 Total 88,453 36,891 46,781 4,781 1,362,868 1,201,475 142,750 18,643 1,059,806 919,068 119,143 21,595 |
Schedule of investments in other companies | As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Opening balance as of January 1, 10,177 32,003 27,585 Acquisition of investments - - Sale of investments (20) - - Participation in income 1,388 1,146 1,325 Dividends received (508) (130) (38) Other adjustments (*) (641) (22,842) 3,131 Total 10,396 10,177 32,003 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of intangible assets [text block] [Abstract] | ||
Schedule of composition of intangible assets | As of December 31, 2020 Average remaining useful life Net opening balance as of January 1, 2020 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses - - 35,997 (35,997) - Software development 2 73,389 248,537 (166,000) 82,537 Total 73,389 284,534 (201,997) 82,537 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 , | |
Schedule of changes in the value of intangible assets | Gross balances Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 35,997 214,005 250,002 Acquisitions - 35,170 35,170 Disposals and impairment - (638) (638) Other - - - Balances as of December 31, 2020 35,997 248,537 284,534 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 Accumulated amortization Licenses Software development Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 (35,997) (140,616) (176,613) Year’s amortization - (25,384) (25,384) Other changes - - - Balances as of December 31, 2020 (35,997) (166,000) 201,997 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) |
Fixed Assets and Right of Use_2
Fixed Assets and Right of Use Assets and Lease Liability (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of quantitative information about leases for lessee [abstract] | |
Schedule of property, plant, and equipment balances | As of December 31, 2020 Net opening balance as of January 1, 2020 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 173,061 308,499 (140,805) 167,694 Equipment 55,494 243,084 (190,636) 52,448 Other 22,206 75,159 (54,447) 20,712 Total 250,761 626,742 (385,888) 240,854 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 174,758 302,405 (129,344) 173,061 Equipment 56,865 219,600 (164,106) 55,494 Other 21,963 69,758 (47,552) 22,206 Total 253,586 591,763 (341,002) 250,761 |
Schedule of changes in value of property, plant, and equipment | 2020 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 302,405 219,600 69,758 591,763 Additions 17,790 25,233 7,500 50,523 Disposals (11,696) (1,749) (2,099) (15,544) Impairment due to damage (*) - - - - Other - - - - Balances as of December 31, 2020 308,499 243,084 75,159 626,742 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 16,486 33,302 7,602 57,390 Disposals (2,636) (6,030) - (8,666) Impairment due to damage (1,013) - - (1,013) Other - - - - Balances as of December 31, 2019 302,405 219,600 69,758 591,763 (*) Banco Santander-Chile has recognized in its consolidated financial statements as of December 31, 2019 impairment of $1,013 million, due to the effects of social unrest in the country. See Note 32. |
Schedule of accumulated depreciation | 2020 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 (129,344) (164,106) (47,552) (341,002) Depreciation charges in the period (19,026) (28,370) (8,915) (56,311) Sales and disposals in the period 12,381 1,840 2,020 16,241 Other (4,816) - - (4,816) Balances as of December 31, 2020 (140,805) (190,636) (54,447) (385,888) 2019 Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2019 (114,810) (135,463) (40,193) (298,472) 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) |
Schedule of composition of the right of use assets | As of December 31, 2020 2020 Opening balances as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 157,572 197,573 (49,576) 147,997 Other - - - - Total 157,572 197,573 (49,576) 147,997 As of December 31, 2019 2019 First application balance as of January 1, 2019 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and building 154,284 182,910 (25,338) 157,572 Other - - - - Total 154,284 182,910 (25,338) 157,572 |
Schedule of right of use assets under lease | 2020 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 182,910 - 182,910 Additions 24,136 - 24,136 Disposals (9,473) - (9,473) Impairment - - - Other - - - Balances as of December 31, 2020 197,573 - 197,573 2019 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 154,284 - 154,284 Additions 48,008 - 48,008 Disposals (17,669) - (17,669) Impairment (1,713) - (1,713) Other - - - Balances as of December 31, 2019 182,910 - 182,910 |
Schedule of accumulated amortization | 2020 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2020 (25,338) - (25,338) Amortization for the period (27,731) - (27,731) Sales and disposals during the period 3,496 - 3,496 Transfers - - - Others (3) - (3) Balances as of December 31, 2020 (49,576) - (49,576) 2019 Land and building Other Total MCh$ MCh$ MCh$ Balances as of January 1, 2019 - - - Amortization for the period (26,889) - (26,889) Sales and disposals during the period 1,551 - 1,551 Transfers - - - Others - - - Balances as of December 31, 2019 (25,338) - (25,338) |
Schedule of composition of lease liability balances | As of December 31, 2020 2019 MCh$ MCh$ Lease liability 149,585 158,494 Total 149,585 158,494 |
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 recognized due to IFRS 16 implementation 139,558 Lease liability recognized as at January 1, 2019 154,284 |
Schedule of assets for the right of use leased assets and lease liability | As of December 31, 2020 2019 MCh$ MCh$ Depreciation 27,731 26,889 Interests 2,651 2,965 Short term lease 1,625 4,177 Total 32,007 34,031 |
Schedule of maturity level of the lease liability | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 25,526 26,061 Due after 1 year but within 2 years 23,461 24,311 Due after 2 years but within 3 years 21,472 21,667 Due after 3 years but within 4 years 19,343 19,411 Due after 4 years but within 5 years 16,336 16,982 Due after 5 years 43,447 50,062 Total 149,585 158,494 |
Schedule of future minimum lease cash inflows under non-cancellable operating leases | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 740 603 Due after 1 year but within 2 years 1,015 598 Due after 2 years but within 3 years 736 500 Due after 3 years but within 4 years 639 498 Due after 4 years but within 5 years 448 412 Due after 5 years 1,283 1,563 Total 4,861 4,174 |
Current and Deferred Taxes (Tab
Current and Deferred Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Current And Deferred Taxes Explanatory [Abstract] | |
Schedule of current taxes | As of December 31, 2020 2019 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) (11,648) Current tax liabilities 12,977 - Total tax payable (recoverable) 12,977 (11,648) (Assets) liabilities current taxes detail (net) Income tax, tax rate 174,205 153,424 Minus: Provisional monthly payments (157.648) (159,943) Credit for training expenses (2.137) (2,145) Grant credits (1.360) (1,149) Other (83) (1,835) Total tax payable 12,977 (11,648) |
Schedule of effect on income | As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income tax expense Current tax 174,205 153,424 196,527 Credits (debits) for deferred taxes Origination and reversal of temporary differences (28,465) 37,432 (25,517) Valuation provision - - (56) Subtotals 145,740 190,856 170,954 Tax for rejected expenses (Article No21) 1,354 927 1,110 Other (4,561) (16,709) (4,920) Net charges for income tax expense 142,533 175,074 167,144 |
Schedule of effective tax rate reconciliation | For the year ended, 2020 2019 2018 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 27.00 187,721 27.00 214,566 27.00 207,046 Price level restatement for tax purposes (1) (6.15) (42,730) (6.33) (50,297) (5.15) (39,494) Single penalty tax (rejected expenses) 0.19 1,354 0.12 927 0.14 1,110 Other (0.55) (3,812) 1.24 9,878 (0.20) (1,518) Effective tax rates and expenses for income tax 20.50 142,533 22.03 175,074 21.79 167,144 |
Schedule of effect of deferred taxes on comprehensive income | As of December 31, 2020 2019 MCh$ MCh$ Deferred tax assets Debt instruments at FVOCI 14,907 8,074 Cash flow hedges 36,927 10,918 Total deferred tax assets recognized through other comprehensive income 51,834 18,992 Deferred tax liabilities Debt instruments at FVOCI (42,371) (15,830) Cash flow hedges - - Total deferred tax liabilities recognized through other comprehensive income (42,371) (15,830) Net deferred tax balances in equity 9,463 3,162 Deferred taxes in equity attributable to shareholders of the Bank 9,776 3,444 Deferred tax in equity attributable to non-controlling interests (313) (282) |
Schedule of effect of deferred taxes on income | As of December 31, 2020 2019 MCh$ MCh$ Deferred tax assets Interests and adjustments 8,166 9,531 Extraordinary charge-offs 17,705 15,325 Assets received in lieu of payment 1,425 1,214 Exchange rate adjustments 89 - Property, plant and equipment valuation - - 6,381 Allowance for loan losses 238,670 188,956 Provision for expenses 101,321 89,098 Leased assets 89,458 116,226 Subsidiaries tax losses 7,394 5,416 Right of use assets 428 249 Total deferred tax assets 464,656 432,396 Deferred tax liabilities Valuation of investments (19,967) (17,518) Fixed assets valuation (7,394) - Prepaid expenses (16,691) (20,347) Valuation provision (5,775) (6,058) Derivatives (37,265) (36,512) Exchange rate adjustments - - (2,817) Other (30) (75) Total deferred tax liabilities (87,122) (83,327) |
Schedule of deferred tax assets and liabilities | As of December 31, 2020 2019 MCh$ MCh$ Deferred tax assets Recognized through other comprehensive income 51,834 18,992 Recognized through profit or loss 464,656 432,396 Total deferred tax assets 516,490 451,388 Deferred tax liabilities Recognized through other comprehensive income (42,371) (15,830) Recognized through profit or loss (87,122) (83,327) Total deferred tax liabilities (129,493) (99,157) |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other assets [text block] [Abstract] | |
Schedule of other assets | As of December 31, 2020 2019 MCh$ MCh$ Assets for leasing (1) 62,967 67,139 Assets received or awarded in lieu of payment Assets received in lieu of payment 15,213 18,755 Assets awarded at judicial sale 17,430 22,177 Provision on assets received in lieu of payment or awarded (1,196) (2,042) Subtotal 31,447 38,890 Other assets Guarantee deposits (margin accounts) (2) 608,359 314,616 Non-current assets classified as held for sale (3) 22,036 22,394 Gold investments 765 680 VAT credit 27,519 22,663 Income tax recoverable - 1,787 Prepaid expenses (4) 387,668 432,030 Assets recovered from leasing for sale 3,191 3,575 Valuation adjustments by macro hedge (5) 327,938 210,867 Pension plan assets 673 670 Accounts and notes receivable 100,504 147,108 Notes receivable through brokerage and simultaneous transactions 41,960 43,354 Other receivable assets 33,567 44,262 Other assets (6) 98,780 89,111 Subtotal 1,652,960 1,333,117 Total 1,747,374 1,439,146 (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) 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 38. (4) Under this item, the Bank has recorded prepaid expense related to the Santander LATAM Pass program, which is consumed on a monthly basis in accordance with the client use of Bank’s transactional products and therefore the Bank assigned the respective LATAM Pass miles. In May 2020, LATAM Airlines Group S.A began a reorganization process under Chapter 11, with an aim to was continue operating. LATAM has publicly stated its intention to honor all current and future tickets, as well as travel vouchers, miles and frequent flyer programs, which has been ratified by the bankruptcy court of New York (in charge of chapter 11). In addition, LATAM has formalized two tranches of the DIP (Debtor in Possession) financing proposal for a total of USD 2,200 million, obtaining all resources necessary to continue operating during the crisis. On October, the company made its first disbursement for US$1,150 million from the DIP financing, which represents 50% of the amount available. (5) Net assets and liabilities fair value valuation subject to macro hedges. See Note 7 (6) Other assets mainly include settlement of derivatives and other financial transactions. |
Time Deposits and Other Time _2
Time Deposits and Other Time Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Time Deposits And Other Time Liabilities Explanatory [Abstract] | |
Schedule of time deposits and other time liabilities | As of December 31, 2020 2019 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 11,342,648 8,093,108 Other deposits and demand accounts 1,583,183 741,103 Other demand liabilities 1,635,062 1,463,221 Subtotal 14,560,893 10,297,432 Time deposits and other time liabilities Time deposits 10,421,872 13,064,932 Time savings account 153,330 123,787 Other time liabilities 6,589 4,098 Subtotal 10,581,791 13,192,817 Total 25,142,684 23,490,249 |
Interbank Borrowings (Tables)
Interbank Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interbank Borrowings (Tables) [Line Items] | |
Schedule of Interbank borrowings | As of December 31, 2020 2019 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile 4,959,260 - Loans from domestic financial institutions 217,102 286,603 Loans from foreign financial institutions Banco Santander S.A., Madrid 534.496 - The Bank of Nova Scotia 171.024 134,819 The Bank of New York Mellon 106.860 119,616 Bank of America N.A. US Foreig 90.711 355,051 Zurcher Kantonalbank 71.304 - Wells Fargo Bank N.A. 71.259 231,823 State Bank of India 36.013 28,231 Sumitomo Mitsui Banking Corporation 35.628 179,415 Wachovia Bank NA 10.254 - Banco Santander Hong Kong 7.960 3,697 Bank of Tokio Mitsubishi 2.055 156 Banco Santander Brasil S.A. 1.694 7,873 Standard Chartered Bank 1.691 153,373 Jp Morgan Chase, New York 1.571 - Standard Chartered Bank 1.516 3,613 Caja Madrid - Caja de Ahorros 862 - The Hongkong and Shanghai Bank 801 - Korea Exchange Bank 760 761 Industrial and Commercial Bank 755 898 Hong Kong and Shanghai Banking 598 684 Kookmin Bank 376 185 Banco Do Brasil 265 - U.S. Bank 248 - China Merchants Bank 231 597 Taiwan Cooperative Bank 227 131 Bank of China 223 952 Hua Nan Commercial Bank Ltd. 200 102 Banque Bruxelles Lambert S.A. 174 - Banca Monte Dei Paschi Di Siena 163 58 Unicredito Italiano Spa 161 583 Keb Hana Bank 156 119 Banco Santander Central Hispano 141 848 Bper Banca S.P.A. 137 - Hdfc Bank Limited 131 72 Bank Leumi Le Israel B.M. 127 - Bank of Baroda 124 9 Fortis Bank S.A./N.V. Brussels 108 50 Banca Commerciale Italiana 88 50 Caixa Destalvis I Pensions de Barcelona 87 63 Banco Bpm Spa 84 66 Rabobank, Hong Kong Branch 79 477 Banco de la Republica Oriental 74 23 Kbc Bank Nv 68 406 Canara Bank 61 66 Habib Bank Limited 61 38 First Union National Bank 60 - Caixabank S.A. 58 166 Icici Bank Limited 52 - Kotak Mahindra Bank Limited 49 - Citibank N.A. 46 269,841 Arab Bank Plc 41 - China Construction Bank 38 - Credit Agricole Italia S.P.A. 33 - Bankinter, S.A. 31 - Banco de La Nacion Argentina 30 - Bank of East Asia, Limited 29 82 Banco Popular Espanol, S.A. 29 - Banco Interamericano de Finanz 20 - Agricultural Bank of China 18 152 Woori Bank 15 155 Denizbank A.S., Istanbul 15 - United Bank of India 14 113 Banco Popolare 14 - Subtotal 1,152,199 1,495,414 As of December 31, 2020 2019 MCh$ MCh$ Loans from foreign financial institutions, continued Habib Metropolitan Bank Limite 13 - E. Sun Commercial Bank Ltd. 11 159 Nova Ljubljanska Banka D.D. 7 - Indian Overseas Bank 6 - Shanghai Commercial and Saving 1 6 Mizuho Bank Ltd Ny - 269,404 Barclays Bank Plc London - 98,803 Corporacion Andina De Fomento - 75,097 Zürcher Kantonalbank - 75,002 The Toronto Dominion Bank - 71,191 Hsbc Bank PLC - 69,786 Bank of Montreal - 56,123 Banco Latinoamericano de Comer - 18,731 Banco Bilbao Vizcaya Argentaria - 571 BBVA Bancomer, S.A. - 553 Bank of Communications - 385 Bank of The West - 261 Danske Bank A/S - 224 Deutsche Bank A.G. - 193 Bank of Taiwan - 135 Shinhan Bank - 133 Banca Di Credito Cooperativo 112 Joint Stock Commercial Bank Fo. - 110 Banca Nazionale Del Lavoro S.P - 106 Industrial Bank of Korea - 96 Banco Bradesco S.A. - 84 Bank of Ningbo - 83 China Everbright Bank - 70 Cassa Di Risparmio Di Parma E - 69 Mizuho Corporate Bank Ltd. - 67 Banco Comercial Portugues - 63 Shanghai Pudong Development Ba - 59 Kasikornbank Public Company Li - 33 Banco Rio de La Plata S.A. - 24 Australia And New Zealand Bank - 23 Citic Industrial Bank - 19 Shangai Pudong Development Ban - 14 Banco Caixa Geral - 10 Hsbc Bank USA - 2 Subtotal 38 737,801 Total 6,328,599 2,519,818 |
Loans From Chilean Central Bank [Member] | |
Interbank Borrowings (Tables) [Line Items] | |
Schedule of foreign obligations | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year - - Due within 1 and 2 year 1,104,759 - Due within 2 and 3 year - - Due within 3 and 4 year 3,854,501 - Due after 5 years - - Total loans from Chilean Central Bank 4,959,260 - |
Loans From Domestic Financial Institutions [Member] | |
Interbank Borrowings (Tables) [Line Items] | |
Schedule of foreign obligations | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 217,102 158,855 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 217,102 286,603 |
Loans From Foreign Financial Institutions [Member] | |
Interbank Borrowings (Tables) [Line Items] | |
Schedule of foreign obligations | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 1,116,570 1,970,790 Due within 1 and 2 year 35,667 225,025 Due within 2 and 3 year - 37,400 Due within 3 and 4 year - - Due after 5 years - - Total loans from foreign financial institutions 1,152,237 2,233,215 |
Issued Debt Instruments and O_2
Issued Debt Instruments and Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of debt instruments [text block] [Abstract] | |
Schedule of composition of issued debt instruments and other financial liabilities | As of December 31, 2020 2019 MCh$ MCh$ Other financial liabilities Obligations to public sector - 9,198 Other domestic obligations 175,344 204,705 Foreign obligations 8,974 12,455 Subtotals 184,318 226,358 Issued debt instruments Mortgage finance bonds 12,314 18,502 Senior bonds 6,749,989 8,574,213 Mortgage bond 84,335 89,924 Subordinated bonds 1,357,539 818,084 Subtotals 8,204,177 9,500,723 Total 8,388,495 9,727,081 |
Schedule of debts classified | As of December 31, 2020 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 4,982 7,332 12,314 Senior bonds 1,124,558 5,625,431 6,749,989 Mortgage bond 5,465 78,870 84,335 Subordinated bonds - 1,357,539 1,357,539 Issued debt instruments 1,135,005 7,069,172 8,204,177 Other financial liabilities 184,028 290 184,318 Total 1,319,033 7,069,462 8,388,495 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 |
Schedule of mortgage finance bonds | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 4,982 6,013 Due after 1 year but within 2 years 3,816 4,944 Due after 2 year but within 3 years 2,375 3,928 Due after 3 year but within 4 years 979 2,442 Due after 4 year but within 5 years 162 1,005 Due after 5 years - 170 Total mortgage bonds 12,314 18,502 |
Schedule of senior bonds by currency | As of December 31, 2020 2019 MCh$ MCh$ Santander bonds in UF 4,017,708 4,814,604 Santander bonds in USD 1,263,714 1,649,238 Santander bonds in CHF 466,738 499,485 Santander bonds in Ch$ 639,489 1,242,633 Santander bonds in AUD 125,781 124,748 Current bonds in JPY 68,093 77,797 Santander bonds in EUR 168,466 165,708 Total senior bonds 6,749,989 8,574,213 |
Schedule of placement of senior bonds | Series Currency Amount Term Issuance rate Series approval date Series maximum amount Maturity date W1 UF 1,996,000 5 and 3 months 1.55% annual 02-04-2018 2,000,000 06-01-2025 Total UF 1,996,000 2,000,000 US Bonds USD 742,500,000 5 years 2,70% annual 01-07-2020 750,000,000 01-07-2025 Total USD 742,500,000 750,000,000 Series Currency Amount Term Issuance rate Series approval date Series maximum amount 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 Series Currency Amount Term Issuance rate Series approval date Series maximum amount Maturity date Bono USD USD 200,000,000 10 years 3.79% 01-21-2020 200,000,000 01-21-2030 Total USD 200,000,000 200,000,000 USTDH20914 UF 3,000,000 14 years y 5 months 3.00% 04-07-2020 3,000,000 09-01-2034 USTDH30914 UF 3,000,000 19 years y 5 months 3.15% 04-07-2020 3,000,000 09-01-2039 USTDW20320 UF 5,000,000 15 years y 3 months 3.50% 06-19-2020 5,000,000 09-01-2035 Total UF 11,000,000 11,000,000 |
Schedule of partial repurchase | Fecha Tipo Moneda Monto 01-02-2020 Senior UF 357,000 01-03-2020 Senior UF 300,000 01-09-2020 Senior UF 60,000 01-09-2020 Senior UF 27,000 01-13-2020 Senior CLP 50,000,000 01-14-2020 Senior UF 109,000 01-14-2020 Senior CLP 9,820,000,000 01-14-2020 Senior UF 131,000 01-14-2020 Senior UF 322,000 01-15-2020 Senior USD 2,490,000 01-15-2020 Senior UF 47,000 01-16-2020 Senior CLP 400,000,000 01-16-2020 Senior UF 1,000 01-17-2020 Senior UF 28,000 01-20-2020 Senior UF 74,000 01-21-2020 Senior UF 171,000 01-21-2020 Senior UF 181,000 01-21-2020 Senior CLP 330,000,000 01-22-2020 Senior CLP 11,430,000,000 01-24-2020 Senior UF 2,000 01-29-2020 Senior UF 1,000 01-29-2020 Senior CLP 120,000,000 01-30-2020 Senior CLP 10,000,000 01-31-2020 Senior UF 40,000 02-06-2020 Senior CLP 6,000,000,000 02-07-2020 Senior CLP 1,180,000,000 02-11-2020 Senior CLP 7,430,000,000 02-12-2020 Senior CLP 2,520,000,000 02-13-2020 Senior CLP 10,000,000,000 02-17-2020 Senior UF 2,000 02-17-2020 Senior UF 15,000 02-18-2020 Senior UF 50,000 02-18-2020 Senior UF 4,000 02-20-2020 Senior UF 350,000 02-20-2020 Senior UF 115,000 02-21-2020 Senior UF 57,000 02-21-2020 Senior UF 24,000 02-24-2020 Senior UF 250,000 02-24-2020 Senior UF 10,000 02-26-2020 Senior UF 169,000 02-26-2020 Senior UF 1,000 02-27-2020 Senior UF 180,000 02-27-2020 Senior UF 11,000 02-27-2020 Senior CLP 6.750.000.000 03-02-2020 Senior UF 1.000 03-05-2020 Senior UF 2.000 03-09-2020 Senior UF 261.000 03-09-2020 Senior UF 150.000 03-11-2020 Senior UF 2.000 03-17-2020 Senior UF 850.000 03-18-2020 Senior UF 150.000 Fecha Tipo Moneda Monto 03-19-2020 Senior USD 5.000.000 03-23-2020 Senior UF 95.000 03-23-2020 Senior USD 5.000.000 03-24-2020 Senior CLP 1.250.000.000 03-30-2020 Senior UF 62.000 03-31-2020 Senior UF 360.000 03-31-2020 Senior UF 5.000 04-01-2020 Senior CLP 1.000.000.000 04-02-2020 Senior UF 5.184.000 04-02-2020 Senior CLP 16.710.000.000 04-03-2020 Senior CLP 32.800.000.000 04-03-2020 Senior UF 27.000 04-06-2020 Senior CLP 101.400.000.000 04-06-2020 Senior UF 157.000 04-06-2020 Senior USD 10.000.000 04-07-2020 Senior CLP 3.990.000.000 04-07-2020 Senior UF 6.659.000 04-07-2020 Senior USD 10.000.000 04-08-2020 Senior CLP 210.000.000 04-13-2020 Senior CLP 970.000.000 04-14-2020 Senior CLP 2.000.000.000 04-17-2020 Senior CLP 11.900.000.000 05-05-2020 Senior USD 49.000.000 05-14-2020 Senior USD 47.000.000 06-02-2020 Senior CLP 6.020.000.000 06-03-2020 Senior UF 100.000 06-03-2020 Senior CLP 10.750.000.000 06-05-2020 Senior USD 5.000.000 06-08-2020 Senior CLP 23.000.000.000 06-12-2020 Senior CLP 150.000.000 06-16-2020 Senior CHF 12.160.000 06-17-2020 Senior CHF 36.785.000 06-19-2020 Senior CLP 112.490.000.000 06-22-2020 Senior CLP 1.500.000.000 06-26-2020 Senior CLP 3.500.000.000 07-02-2020 Senior CLP 4.620.000.000 07-10-2020 Senior CHF 2.000.000 07-10-2020 Senior CLP 500.000.000 07-15-2020 Senior CLP 490.000.000 07-17-2020 Senior UF 1.000 07-17-2020 Senior CLP 29.780.000.000 08-13-2020 Senior UF 345.000 08-14-2020 Senior USD 3.350.000 08-21-2020 Senior UF 100.000 08-21-2020 Senior UF 77.000 08-24-2020 Senior UF 11.000 08-25-2020 Senior UF 14.000 09-09-2020 Senior UF 24.000 09-09-2020 Senior UF 70.000 09-09-2020 Senior UF 45.000 09-10-2020 Senior UF 210.000 09-23-2020 Senior USD 5.000.000 09-28-2020 Senior UF 50.000 09-29-2020 Senior UF 1.000 09-30-2020 Senior UF 43.000 10-01-2020 Senior UF 4,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior CLP 50,000,000 10-06-2020 Senior UF 1,000 10-06-2020 Senior UF 1,000 10-15-2020 Senior UF 2,000 10-20-2020 Senior CHF 2,000,000 10-01-2020 Senior USD 5,153,000 10-19-2020 Senior USD 20,000,000 11-16-2020 Senior USD 1,000,000 11-18-2020 Senior USD 10,000,000 11-15-2020 Senior USD 477,510,000 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 maturities of senior bonds | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 1,124,558 2,078,202 Due after 1 year but within 2 years 1,047,241 1,147,825 Due after 2 year but within 3 years 742,081 1,221,393 Due after 3 year but within 4 years 1,228,524 742,238 Due after 4 year but within 5 years 1,250,897 1,278,746 Due after 5 years 1,356,688 2,105,809 Total senior bonds 6,749,989 8,574,213 |
Schedule of mortgage bonds per currency | As of December 31, 2020 2019 MCh$ MCh$ Mortgage bonds in UF 84,335 89,924 Total mortgage bonds 84,335 89,924 As of December 31, 2020 2019 MCh$ MCh$ Subordinated bonds denominated in USD 202,634 - Subordinated bonds denominated in UF 1,154,905 818,084 Total subordinated bonds 1,357,539 818,084 |
Schedule of maturities of mortgage bond | As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 5,465 5,137 Due after 1 year but within 2 years 8,773 8,248 Due after 2 year but within 3 years 9,056 8,514 Due after 3 year but within 4 years 9,348 8,788 Due after 4 year but within 5 years 9,649 9,072 Due after 5 years 42,044 50,165 Total Mortgage bonds 84,335 89,924 As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year - - 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 1,357,539 818,084 Total subordinated bonds 1,357,539 818,084 |
Schedule of other financial liabilities | As of December 31, 2020 2019 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 42 41 Due after 2 year but within 3 years 47 44 Due after 3 year but within 4 years 50 48 Due after 4 year but within 5 years 55 53 Due after 5 years 96 132 Non-current portion subtotal 290 318 Current portion: Amounts due to credit card operators 134,790 151,984 Acceptance of letters of credit 1,460 5,709 Other long-term financial obligations, short-term portion 47,778 68,347 Current portion subtotal 184,028 226,040 Total other financial liabilities 184,318 226,358 |
Maturity of Financial Assets _2
Maturity of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Maturity Of Assets And Liabilities Explanatory [Abstract] | |
Schedule of assets and liabilities maturities | As of December 31, 2020 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,803,288 - - - 2,803,288 - - - - 2,803,288 Cash items in process of collection 452,963 - - - 452,963 - - - - 452,963 Financial assets held for trading - 680 2,630 499 3,809 633 18,257 111,019 129,909 133,718 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 385,231 401,486 795,881 1,582,598 1,723,334 1,692,142 4,034,011 7,449,487 9,032,085 Loans and accounts receivables at amortized cost (*) 170,214 1,246,271 1,443,659 3,664,841 6,524,985 3,659,994 293,785 23,861,129 27,814,908 34,339,893 Loans and account receivable at FVOCI (**) 5,405 5,405 16,243 49,037 65,280 70,685 Debt instruments at FVOCI - 1,006,983 493 188,977 1,196,453 205,150 2,378,752 3,382,187 5,966,089 7,162,542 Equity instruments at FVOCI - - - - - - - 548 548 548 Guarantee deposits (margin accounts) 608,359 - - - 608,359 - - - - 608,359 Total financial assets 4,034,824 2,639,165 1,848,268 4,655,603 13,177,860 5,589,111 4,399,179 31,437,931 41,426,221 54,604,081 Financial liabilities Deposits and other demand liabilities 14,560,893 - - - 14,560,893 - - - - 14,560,893 Cash items in process of being cleared 361,631 - - - 361,631 - - - - 361,631 Obligations under repurchase agreements - 969,808 - - 969,808 - - - - 969,808 Time deposits and other time liabilities 159,918 5,843,682 2,912,985 1,434,246 10,350,831 163,053 44,384 23,523 230,960 10,581,791 Financial derivative contracts - 386,690 445,376 931,358 1,763,424 1,552,482 1,708,509 3,994,245 7,255,236 9,018,660 Interbank borrowings 16,832 238,414 222,992 855,434 1,333,672 1,140,426 3,854,501 - 4,994,927 6,328,599 Issued debt instruments - 344,732 447,117 343,156 1,135,005 1,813,341 2,499,560 2,756,271 7,069,172 8,204,177 Lease liabilities 144,478 38,148 1,375 27 184,028 89 105 96 290 184,318 Other financial liabilities - - - 25,526 25,526 44,933 35,679 43,447 124,059 149,585 Guarantees received (margin accounts) 624,205 - - - 624,205 - - - - 624,205 Total financial liabilities 15,867,957 7,821,474 4,029,845 3,589,747 31,309,023 4,714,324 8,142,738 6,817,582 19,674,644 50,983,667 As of December 31, 2019 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 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 amortized 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 amortized cost are presented on a gross basis, the amount of allowance is Ch$1,036,793 million. (**) Loans and accounts receivables at FVOCI are presented on a gross basis, the amount of allowance is Ch$1,354 million. (*) Loans and accounts receivables at amortized cost are presented on a gross basis, the amount of allowance is Ch$ 896,095 million. (**) Loans and accounts receivables at FVOCI are presented on a gross basis, the amount of allowance is Ch$101 million. |
Provisions and Contingent Pro_2
Provisions and Contingent Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of provisions [text block] [Abstract] | |
Schedule of composition provisions | As of December 31, 2020 2019 MCh$ MCh$ Provisions for personnel salaries and expenses 104,270 101,223 Provisions for mandatory dividends 164,284 185,727 Provisions for contingent loan 28,247 23,240 Provision for contingencies 33,863 15,940 Total 330,664 326,130 |
Schedule of activity regarding provision | Personnel and expenses Mandatory Contingent Contingencies Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2020 101,223 185,727 23,240 15,940 326,130 Provisions established 76,281 164,284 14,683 25,367 280,615 Application of provisions (71,481) - - - (71,481) Provisions released (1,755) (185,727) (9,676) (7,444) (204,602) Reclassifications - - - - - Other 2 - - - 2 Balances as of December 31, 2020 104,270 164,284 28,247 33,863 330,664 Balances as of January 1, 2019 93,379 178,600 23,709 9,583 305,271 Provisions established 78,316 185,727 15,879 28,373 308,295 Application of provisions (70,385) - - (155) (70,540) Provisions released (552) (178,600) (16,348) (21,861) (217,361) Reclassifications - - - - - Other 465 - - - 465 Balances as of December 31, 2019 101,223 185,727 23,240 15,940 326,130 Balances as of January 1, 2018 97,576 168,840 9,480 27,902 303,798 Provisions established 80,912 178,600 19,240 19,647 298,399 Application of provisions (72,975) - - (4,431) (77,406) Provisions released (3,195) (168,840) (5,011) (33,535) (210,581) Reclassifications - - - - - Other (8,939) - - - (8,939) Balances as of December 31, 2018 93,379 178,600 23,709 9,583 305,271 |
Schedule of provisions for personnel salaries and expenses | As of December 31, 2020 2019 MCh$ MCh$ Provision for seniority compensation 6,658 6,797 Provision for stock-based personnel benefits - - Provision for performance bonus 65,786 68,595 Provision for vacations 29,307 23,864 Provision for other personnel benefits 2,519 1,967 Total 104,270 101,223 |
Schedule of provisions for contingent loan risk | December 31, 2020 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2020 1,509 13,127 226 542 3,487 4,349 23,240 Transfer Transfers from stage 1 to stage 2 (1,273) (3,614) 1,785 13,442 - - 10,340 Transfers from stage 1 to stage 3 - (76) - - 83 2,757 2,764 Transfers from stage 2 to stage 3 - - (73) (148) 2,839 1,720 4,338 Transfers from stage 2 to stage 1 165 2,687 (295) (9,274) - - (6,717) Transfers from stage 3 to stage 2 - - - 240 (6) (1,934) (1,700) Transfers from stage 3 to stage 1 - 14 - - - (444) (430) Net changes on financial assets 2,279 (200) 126 (315) (2,995) (1,748) (2,853) Write-off - - - - - - - Other adjustment 135 (928) (6) 65 (170) 169 (735) At December 31, 2020 2,815 11,010 1,762 4,552 3,238 4,869 28,247 December 31, 2019 Stage 1 Stage 2 Stage 3 TOTAL Individual Collective Individual Collective Individual Collective ECL allowance at January 1, 2019 1,081 15,070 259 172 3,856 3,271 23,709 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 491 (1,474) (41) (106) (2,100) 2,173 (5,471) Write-off - - - - - - - Other adjustments (9) (115) (8) (19) 6 8 (137) At December 31, 2019 1,509 13,127 226 542 3,487 4,349 23,240 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other liabilities [text block] [Abstract] | |
Schedule of other liabilities | As of December 31, 2020 2019 MCh$ MCh$ Accounts and notes payable 227,518 214,216 Income received in advance 828 640 Macro-hedge valuation adjustment 51,089 - Guarantees received (margin accounts) (1) 624,205 994,714 Notes payable through brokerage and simultaneous transactions (3) 12,504 1,418,340 Other payable obligations (2) 139,622 61,555 Withholding VAT 14,129 8,147 Accounts payable insurance companies 13,911 9,510 Other liabilities 82,047 99,203 Total 1,165,853 2,806,325 (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 between Latam and Delta, which was paid to shareholders on January 3, 2019. |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of commitments and contingent liabilities [text block] [Abstract] | |
Schedule of contractual obligations | As of December 31, 2020 2019 MCh$ MCh$ Letters of credit issued 165,119 140,572 Foreign letters of credit confirmed 82,779 70,192 Performance guarantee 1,090,643 1,929,894 Personal guarantees 441,508 451,950 Total contingent liabilities 1,780,049 2,592,608 Available on demand credit lines 8,391,414 8,732,422 Other irrevocable credit commitments 406,234 485,991 Total loan commitment 8,797,648 9,218,413 Total 10,577,697 11,811,021 |
Schedule of held securities | As of December 31, 2020 2019 MCh$ MCh$ Third party operations Collections 83,392 90,966 Transferred financial assets managed by the Bank 18,017 21,507 Assets from third parties managed by the Bank and its affiliates 1,352,032 1,592,845 Subtotal 1,453,441 1,705,318 Custody of securities Securities held in custody 11,022,790 9,731,894 Securities held in custody deposited in other entity 808,186 1,206,541 Issued securities held in custody 10,461,847 21,636,819 Subtotal 22,292,823 32,575,254 Total 23,746,264 34,280,572 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of share capital, reserves and other equity interest [text block] [Abstract] | |
Schedule of activity shares | The activity with respect to shares during 2020, 2019 and 2018 was as follows: SHARES As of December 31, 2020 2019 2018 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 | 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 - 22,450,671,671 22,450,671,671 11.91 Banks on behalf of third parties 15,925,407,468 - 15,925,407,468 8.45 Pension funds (AFP) on behalf of third parties 9,929,343,874 - 9,929,343,874 5.27 Stock brokers on behalf of third parties 6,892,162,980 - 6,892,162,980 3.66 Other minority holders 6,655,539,533 - 6,655,539,533 3.53 Total 165,995,455,123 22,450,671,671 188,446,126,794 100.00 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 - 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 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 - 26,486,000,071 26,486,000,071 14.05 Banks on behalf of third parties 15,770,481,573 - 15,770,481,573 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 |
Schedule of basic and diluted earnings per share | As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the shareholders of the Bank 547,614 619,091 595,333 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 2.906 3.285 3.159 Basic earnings per share from continuing operations (in Ch$) 2.906 3.276 3.139 Basic earnings per share from discontinued operations (in Ch$) - 0.009 0.020 b) Diluted earnings per share Total attributable to the shareholders of the Bank 547,614 619,091 595,333 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 2.906 3.285 3.159 Diluted earnings per share from continuing operations (in Ch$) 2.906 3.276 3.139 Diluted earnings per share from discontinued operations (in Ch$) - 0.009 0.020 |
Schedule of other comprehensive income from available for sale investments and cash flow hedges | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Debt instruments at FVOCI As of January 1, 29,184 6,962 1,855 Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax 30,062 (17,775) 6,609 Recycling from other comprehensive income to income for the year 43,609 39,997 (1,502) Subtotals 73,671 22,222 5,107 Total 102,885 29,184 6,962 Cash flow hedges As of January 1, (40,435) 9,803 (3,562) Gains (losses) on the re-measurement of cash flow hedges, before tax (93,182) (49,163) 14,048 Recycling adjustments on cash flow hedges, before tax (3,148) (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 (96,330) (50,238) 13,365 Total (136,765) (40,435) 9,803 Other comprehensive income, before taxes (33,910) (11,251) 16,765 Income tax related to other comprehensive income components Income tax relating to debt instruments at FVOCI (27,464) (7,756) (1,810) Income tax relating to cash flow hedges 36,927 10,918 (2,646) Total 9,463 3,162 (4,456) Other comprehensive income, net of tax (24,447) (8,089) 12,309 Attributable to: Shareholders of the Bank (25,293) (8,856) 11,353 Non-controlling interest 846 767 956 |
Non-controlling Interest (Table
Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of non-controlling interests [text block] [Abstract] | |
Schedule of non-controlling interest included in the equity and the income | Other comprehensive income As of December 31, 2020 Non- Equity Income Debt instruments Deferred tax Total other Comprehensive % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Corredora de Seguros Limitada 0,25 174 (4) (4) 1 (3) (7) Santander Corredores de Bolsa Limitada 49,41 22.614 351 (38) 9 (29) 322 Santander Asesorías Financieras Limitada 0,97 493 (5) 152 (41) 111 106 Santander S.A. Sociedad Securitizadora 0,36 2 - - - - - Klare Corredora de Seguros S.A. 49,90 2.902 (880) - - - (880) Santander Consumer Chile S.A. 49,00 29.649 5,619 - - - 5,619 Subtotal 55,834 5,081 110 (31) 79 5,160 Entities controlled through other considerations: Santander Gestión de Recaudación y Cobranzas Limitada 100,00 4,808 (127) - - - (127) Bansa Santander S.A. 100,00 19,565 349 - - - 349 Multiplica Spa 100,00 4,476 (187) - - - (187) Subtotal 28,849 35 35 Total 84,683 5,116 110 (31) 79 5,195 Other comprehensive income As of December 31, 2019 Non- Equity Income Debt instruments Deferred tax Total other Comprehensive % 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 Other comprehensive income As of December 31, 2018 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 0.25 172 4 (2) - (2) 2 Santander Corredores de Bolsa Limitada 49.41 21,673 755 (84) 2 (82) 673 Santander Agente de Valores Limitada 0.94 488 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 Cobranzas Limitada 100.00 3,777 852 - - - 852 Bansa Santander S.A. 100.00 20,051 2,650 - - - 2,650 Subtotals 23,828 3,502 - - - 3,502 Total 46,163 4,360 (86) 2 (84) 4,276 (1) Formerly Santander Agente de Valores Limitada (2) On November 27, 2019, the Bank acquired 51% of Santander Consumer S.A., and the remaining 49% is accounted as non-controlling interest. |
Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests | As of December 31, 2020 2019 2018 Assets Liabilities Capital Net Assets Liabilities Capital Net Assets Liabilities Capital Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 79,936 10,777 70,554 (1,395) 82,918 12,372 68,159 2,387 77,764 9,595 66,374 1,795 Santander Corredores de Bolsa Limitada 94,802 49,038 45,053 711 1,479,974 1,434,843 43,866 1,265 102,228 57,999 42,691 1,538 Santander Asesorias Financieras Limitada(*) 52,070 1,142 51,454 (526) 51,505 51 50,481 973 50,552 71 40,177 10,304 Santander S.A. Sociedad Securitizadora 630 175 547 (92) 636 88 639 (91) 704 66 728 (90) Klare Corredora de Seguros S.A. 6,415 599 7,579 (1,763) 8,303 724 8,586 (1,007) - - - - Santander Consumer Chile S.A. 693,992 633,177 49,348 11,467 505,059 452,528 39,951 12,580 - - - - Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. 16,448 1,185 16,273 (1,010) Santander Gestión de Recaudación y Cobranzas Ltda. 7,789 3,108 4,808 (127) 8,200 3,392 3,777 1,031 6,932 3,155 2,925 852 Bansa Santander S.A. 84,496 64,582 19,565 349 87,607 68,042 20,051 (486) 20,437 386 17,401 2,650 Multiplica Spa 4,336 47 4,476 (187) 4,480 4 4,480 (4) - - - - Total 1,040,914 763,830 269,657 7,427 2,228,682 1,972,044 239,990 16,648 258,617 71,272 170,296 17,049 |
Interest Income (Tables)
Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of interest income (expense) [text block] [Abstract] | |
Schedule of income from interest | For the years ended December 31, 2020 2019 2018 Interest Inflation Prepaid fees Total Interest Inflation Prepaid fees Total Interest Inflation Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 124 - - 124 718 - - 718 903 - - 903 Interbank loans 36 - - 36 1,263 - - 1,263 897 - - 897 Commercial loans 722,116 174,360 10,207 906,683 780,284 160,462 16,478 957,224 771,405 153,851 11,008 936,264 Mortgage loans 322,687 314,777 491 637,955 349,663 283,820 455 633,938 330,055 266,691 909 597,655 Consumer loans 564,363 338 5,245 569,946 593,705 384 8,107 602,196 579,929 439 6,166 586,534 Investment instruments 69,276 36,141 - 105,417 71,150 26,169 - 97,319 75,423 24,790 - 100,213 Other interest income 9,078 4,384 - 13,462 18,387 3,592 - 21,979 16,644 4,013 - 20,657 Interest income not including income from hedge accounting 1,687,680 530,000 15,943 2,233,623 1,815,170 474,427 25,040 2,314,637 1,775,256 449,784 18,083 2,243,123 |
Schedule of interest expense | For the years ended December 31, 2020 2019 2018 Interest Inflation Total Interest Inflation Total Interest Inflation Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (13,576) (1,526) (15,102) (14,018) (1,508) (15,526) (14,914) (1,371) (16,285) Repurchase agreements (1,899) - (1,899) (9,710) - (9,710) (6,439) - (6,439) Time deposits and liabilities (141,091) (20,876) (161,967) (335,307) (27,172) (362,479) (317,061) (35,284) (352,345) Interbank loans (45,103) - (45,103) (50,354) - (50,354) (39,971) - (39,971) Issued debt instruments (232,551) (140,095) (372,646) (250,512) (145,487) (395,999) (241,455) (133,227) (374,682) Other financial liabilities (637) (11) (648) (1,310) (33) (1,343) (2,698) (110) (2,808) Lease contracts (2,651) - (2,651) (2,965) - (2,965) - - - Other interest expense (9,576) (14,722) (24,298) (16,651) (11,300) (27,951) (6,929) (10,497) (17,426) Interest expense not including expenses from hedge accounting (447,084) (177,230) (624,314) (680,827) (185,500) (866,327) (629,467) (180,489) (809,956) |
Schedule of income and expense from interest | For the years ended December 31, 2020 2019 2018 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,233,623 2,314,637 2,243,123 Interest expense not including expense from hedge accounting (624,314) (866,327) (809,956) Net Interest income (expense) from hedge accounting 1,609,309 1,448,310 1,433,167 Hedge accounting (net) (15,461) (31,346) (18,799) Total net interest income 1,593,848 1,416,964 1,414,368 |
Fees and Commissions (Tables)
Fees and Commissions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of fee and commission income (expense) [text block] [Abstract] | |
Schedule of fees and commission | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 7,428 10,315 6,624 Fees and commissions for guarantees and letters of credit 36,277 35,039 33,654 Fees and commissions for card services 196,308 225,702 218,903 Fees and commissions for management of accounts 34,825 35,949 33,865 Fees and commissions for collections and payments 23,242 33,355 40,077 Fees and commissions for intermediation and management of securities 11,272 10,154 10,147 Insurance brokerage fees 39,764 49,664 39,949 Office banking 15,119 13,655 15,921 Fees for other services rendered 44,072 47,331 45,633 Other fees earned 42,855 37,494 39,690 Total 451,162 498,658 484,463 For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (123,011) (171,513) (163,794) Fees and commissions for securities transactions (896) (1,001) (936) Office banking (2,078) (1,860) (4,096) Interbank services (24,957) (19,839) (14,413) Other fees (32,942) (17,359) (10,339) Total (183,884) (211,572) (193,578) Net fees and commissions income 267,278 287,086 290,885 |
Schedule of income and expences | Segments Revenue recognition calendar for ordinary As of December 31, 2020 Individuals Companies Global Others Total Transferred Transferred at a Accrual MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commission income Commissions for lines of credit and overdrafts 6,334 690 398 6 7,428 7,428 - - Commissions for guarantees and letters of credit 11,304 17,505 7,112 356 36,277 36,277 - - Commissions for card services 187,098 6,620 2,568 22 196,308 47,073 149,235 - Commissions for account management 31,508 2,495 819 3 34,825 34,825 - - Commissions for collections, collections and payments 21,281 1,514 367 80 23,242 - 11,303 11,939 Commissions for intermediation and management of values 3,353 299 8,149 (529) 11,272 - 11,272 - Remuneration for insurance commercialization 39,764 - - - 39,764 - - 39,764 Office banking 10,393 4,077 649 - 15,119 - 15,119 - Other remuneration for services rendered 39,318 3,606 1,028 120 44,072 - 44,072 - Other commissions earned 18,948 11,716 12,850 (659) 42,855 - 42,855 - Total 369,301 48,522 33,940 (601) 451,162 125,603 273,856 51,703 Commission expenses Remuneration for card operation (118,255) (3,020) (1,070) (666) (123,011) - (68,550) (54,461) Commissions per transaction with securities - - (69) (827) (896) - (896) - Office banking (1,326) (434) (314) (4) (2,078) - (2,078) - Interbank services (16.073) (5,183) (3,663) (38) (24,957) (24,957) Other commissions (20,216) (1,550) (5,644) (5,532) (32,942) - (32,942) - Total (155,870) (10,187) (10,760) (7,067) (183,884) - (129,423) (54,461) Total Net commission income and expenses 213,431 38,335 23,180 (7,668) 267,278 125,603 144,433 (2,758) Segments Revenue recognition calendar for ordinary As of December 31, 2019 Individuals and Companies and Global Investment Others Total Transferred over Transferred at a 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) - Interbank services (12,776) (4,121) (2,912) (30) (19,839) (19,839) Other commissions (9,559) (1,013) (2,707) (4,080) (8,359) - (8,359) - 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 |
Net Income (Expense) From Fin_2
Net Income (Expense) From Financial Operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of finance income (cost) [text block] [Abstract] | |
Schedule of income (expense) from financial operations | The detail of income (expense) from financial operations is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net gains on trading derivatives 42,704 (162,183) 38,217 Net gains on financial assets at fair value through profit or loss 1,671 11,878 9,393 Net gains on derecognition of financial assets measured at amortized cost 80,679 63,672 8,479 Sale of loans and accounts receivables from customers Current portfolio 48 63 (309) Charged-off portfolio (110) 3,248 709 Repurchase of issued bonds (*) (24,973) 3,073 (1,085) Other income (expense) from financial operations (9,237) 2,084 (2,230) Total income (expense) 90.800 (78,165) 53,174 |
Net Foreign Exchange Gain (Lo_2
Net Foreign Exchange Gain (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of effect of changes in foreign exchange rates [text block] [Abstract] | |
Schedule of net foreign exchange income | For the years ended December 31, 2020, 2019 and 2018 net foreign exchange income is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences 90,133 (89,893) (212,618) Hedging derivatives (27,624) 362,374 252,275 Income from assets indexed to foreign currency (3,512) 7,376 12,251 Total 58,997 279,857 51,908 |
Expected Credit Losses Allowa_2
Expected Credit Losses Allowance (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of allowance for credit losses [text block] [Abstract] | |
Schedule of expected credit losses | As of December 31, 2020 and 2019, 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, 2020 (*) Stage1 Stage2 Stage3 TOTAL Individual Collective Individual Collective Individual Collective MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 20,055 9,617 35,861 23,410 115,730 86,018 290,691 Mortgage loans 0 16,603 0 (5,966) 0 7,636 18,273 Consumer loans 0 19,024 0 (18,914) 0 161,466 161,576 Contingent loans 1,335 (1,600) 1,624 4,023 (14) 423 5,789 Loans and account receivable at FVOCI 1,253 - - - - - 1,253 Debt at FVOCI - 682 - - - - 682 Total 22,643 44,326 37,485 2,552 115,716 255,543 478,264 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) (*) Includes overlays for an amount of MCh$59,000. See Note 37, Risk management. |
Personnel Salaries and Expens_2
Personnel Salaries and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of expenses by nature [text block] [Abstract] | |
Schedule of personnel expenses | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation 265,312 260,445 259,354 Bonuses or gratifications 77,046 78,534 72,728 Stock-based benefits (1,589) (315) (337) Seniority compensation 22,380 25,006 21,869 Pension plans 1,026 567 1,069 Training expenses 2,887 4,918 3,782 Day care and kindergarten 2,769 2,731 2,778 Welfare funds 6,531 6,644 6,040 Other personnel expenses 32,308 31,627 30,281 Total 408,670 410,157 397,564 |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Expenses By Nature 1 Explanatory [Abstract] | |
Schedule of administrative expenses | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ General administrative expenses 142,848 124,896 145,241 Maintenance and repair of property, plant and equipment 20,300 19,214 20,962 Office lease - - 29,761 Equipment lease - - 55 Short term leases contracts 1,625 4,177 - Insurance payments 5,064 3,848 3,439 Office supplies 4,774 5,126 5,070 IT and communication expenses 68,436 52,017 44,209 Heating, and other utilities 5,455 2,848 4,849 Security and valuables transport services 12,365 12,187 12,168 Representation and personnel travel expenses 2,375 4,109 3,444 Judicial and notarial expenses 860 1,277 1,148 Fees for technical reports and auditing 8,460 7,643 10,020 Other general administrative expenses 13,134 12,450 10,116 Outsourced services 72,513 71,572 65,358 Data processing 38,032 31,921 32,360 Archive services 2,619 3,518 3,401 Valuation services 3,208 3,644 3,167 Outsourcing 6,177 10,139 9,936 Other 22,477 22,350 16,494 Board expenses 1,517 1,356 1,297 Marketing expenses 16,791 20,891 19,286 Taxes, payroll taxes, and contributions 16,781 14,897 13,907 Real estate taxes 2,214 1,954 1,730 Patents 2,135 1,913 1,896 Other taxes 5 5 7 Contributions to FMC (former SBIF) 12,427 11,025 10,274 Total 250,450 233,612 245,089 |
Depreciation, Amortization, a_2
Depreciation, Amortization, and Impairment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of depreciation and amortisation expense [text block] [Abstract] | |
Schedule of depreciation, amortization and impairment charges | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (56,311) (52,855) (54,987) Amortization of Intangible assets (25,384) (26,348) (24,293) Depreciation right of use assets (27,731) (26,889) - Total depreciation and amortization (109,426) (106,092) (79,280) Impairment of property, plant, and equipment - (1,013) (39) Impairment of right of use assets (638) (1,713) - Impairment of intangibles - - - Total impairment (638) (2,726) (39) Total (110,064) (108,818) (79,319) |
Other Operating Income and Ex_2
Other Operating Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of other operating income (expense) [text block] [Abstract] | |
Schedule of other operating income | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 5,934 5,613 7,106 Release of contingencies provisions (1) 503 - 12,020 Other income 1,769 7,388 4,003 Leases - - 222 Income from sale of property, plant and equipment (2) 865 2,456 2,490 Compensation from insurance companies due to damages (3) 702 4,681 144 Other 202 251 1,147 Total 8,206 13,001 23,129 (1) In accordance with IAS 37, the Bank recorded contingencies provisions, which in 2018 and 2020 were favorable to the Bank. (2) Legal cession of rights made by Bansa Santander S.A. which resulted in an income of Ch$2,122 million, as of December 31, 2018. (3) Mainly related to recoveries from fraud claims. |
Schedule of other operating expenses | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment 2,941 3,900 2,537 Provision on assets received in lieu of payment 1,456 1,828 816 Expenses for maintenance of assets received in lieu of payment 1,485 2,072 1,721 Credit card expenses 546 1,077 3,151 Customer services 1,559 2,456 3,635 Other expenses 72,760 41,870 23,019 Operating charge-offs 10,675 8,349 5,694 Life insurance and general product insurance policies (1) 32,987 21,205 9,964 Sale of property plant and equipment - 67 62 Retail association payment 326 343 898 Sale of participation on associates 20 126 - Expense on social commotion event - 1,823 - Leasing land tax (2) 3,174 - - Commercial representation expenses 3,501 256 - Non-recurrent expenses 6,622 - - Other 15,455 9,701 6,401 Total 77,806 49,303 32,342 (1) New Fraud Law became effective on 2020. (2) Annual Land Tax surcharge approved in the Tax Modernization Law of February 24, 2020 . |
Transactions with Related Par_2
Transactions with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of related party [text block] [Abstract] | |
Schedule of loans and accounts receivable as well as contingent loans that correspond to related entities | As of December 31, 2020 2019 2018 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 352,590 265 3,939 900 246,868 375 2,986 685 122,289 459 4,299 233 Mortgage loans - - 22,428 - - - 20,473 - - - 18,814 - Consumer loans - - 6,131 - - - 5,781 - - - 5,335 - Loans and accounts receivable: 352,590 265 32,498 900 246,868 375 29,240 685 122,289 459 28,448 233 Allowance for loan losses (1,138) (9) (137) (14) (122) (182) (179) (10) (308) (9) (116) (5) Net loans 351,452 256 32,361 886 246,746 193 29,061 675 121,981 450 28,332 228 Guarantees 3,323 - 27,203 442 462,513 - 23,918 288 442,854 - 22,893 7,171 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 3,447 - - 93 4,112 - - 63 5,392 - 2,060 44 Guarantees 811 - - - 464,691 - - - 445,064 - 3,364 - Contingent loans: 4,258 - - 93 468,803 - - 63 450,456 - 5,424 44 Allowance for contingent loans (6) - - - (835) - - - (1) - (18) - Net contingent loans 4,252 - - 93 467,968 - - 63 450,455 - 5,406 44 |
Schedule of loan activity to related parties | As of December 31, 2020 2019 2018 Companies of the Group (*) Associated companies Key Personnel Other Companies of the Group (*) Associated companies Key Personnel Other Companies of the Group (*) Associated companies Key Personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 715,671 375 29,240 748 572,745 459 33,871 7,899 476,906 771 27,051 7,826 Loans granted 388,896 - 8,080 727 193,798 167 4,826 500 200,657 39 16,574 773 Loans payments (747,719) (110) (4,822) (482) (50,872) (251) (9,457) (7,651) (104,818) (351) (9,754) (700) Total 356,848 265 32,498 993 715,671 375 29,240 748 572,745 459 33,871 7,899 (*) Loans with non-controlled companies (not-consolidated) amount MCh$2,286, MCh$2,059 and MCh$122,289 as of December 31, 2020, 2019 and 2018, respectively. |
Schedule of assets and liabilities with related parties | As of December 31, 2020 2019 2018 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 703,069 - - - 171,816 - - - 189,803 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - Financial derivative contracts 978,696 186,038 33 7 2,058,715 218,610 - 55 748,632 105,358 - 9 Debt instrument at FVOCI - - - - - - - - - - - - Other assets 445,609 412,277 - - 185,317 210,579 - - 38,960 51,842 - - Liabilities Deposits and other demand liabilities 17,118 4,484 5,997 3,242 25,261 93,761 4,624 566 27,515 21,577 2,493 480 Obligations under repurchase agreements Loans 961,718 - 101 - 138,498 5,000 270 80 6,501 - 329 68 Time deposits and other time liabilities 1,409,404 100 4,706 864 1,183,235 282,171 4,246 2,204 2,585,337 - 3,189 838 Financial derivative contracts 1,137,502 354,108 - - 2,159,660 288,013 - 3 770,624 112,523 - - Interbank borrowing 544,291 - - - - - - - - - - - Issued debt instruments 349,002 - - - 363,154 - - - 335,443 - - - Other financial liabilities - - - - 6,231 - - - 6,807 - - - Other liabilities 1,210 4,484 5,997 3,242 8,130 146,164 - - 60,884 89,817 - - |
Schedule of income (expense) recorded due to transactions with related parties | For the years ended December 31, 2020 2019 2018 Companies of the Group Associated Companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated Companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (30,586) 21 1,202 10 (41,181) (5,235) 1,151 26 (53,256) (156) 1,252 508 Fee and commission income and expenses 46,823 22,596 152 24 28,274 14,499 232 28 91,178 7,826 305 22 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) (390,737) 240,565 - - (586,318) (84,236) - - (566,677) 65,727 27 (12) Other operating income and expenses 492 (522) - - 406 (2,026) - - 42 1,388 - - Key personnel compensation and expenses - (31,961) - - - (37,377) - - - (40,683) - Administrative and other expenses (45,478) (16,763) - - (11,877) (47,757) - - (43,035) (50,764) - - Total (419,486) 245,897 (30,607) 34 (610,696) (124,755) (35,994) 54 (571,748) 24,021 (39,099) 518 (*) 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 | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation 16,220 16,264 16,924 Board members’ salaries and expenses 1,452 1,358 1,230 Bonuses or gratifications 12,583 16,104 16,243 Stock-based benefits (1,589) (315) (337) Seniority compensation 1,079 2,378 4,202 Pension plans 1,026 567 1,069 Training expenses 87 37 210 Health funds 276 273 284 Other personnel expenses 827 711 858 Total 31,961 37,377 40,683 (*) 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 | Position N° of executives As of December 31, 2020 2019 2018 Director 11 10 11 Division manager 13 12 12 Manager 96 106 108 Total key personnel 120 128 131 |
Pension Plans (Tables)
Pension Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of employee benefits [text block] [Abstract] | |
Schedule of actuarial hypothesis assumptions | The most significant actuarial hypotheses considered in the calculations were: Plans post-employment Plans post-employment 2020 2019 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, 2020 2019 MCh$ MCh$ Plan assets 8,224 7,195 Commitments for defined-benefit plans For active personnel (7,551) (6,525) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 673 670 |
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, 2020 2019 2018 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 7,195 6,804 7,919 Expected yield of insurance contracts 385 333 353 Employer contributions 870 859 836 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (226) (801) (2,304) Fair value of plan assets at year end 8,224 7,195 6,804 b) Present value of obligations Present value of obligations opening balance (6,525) (5,958) (6,998) Net incorporation of Group companies - - - Service cost (1,026) (567) (1,069) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other - - 2,109 Present value of obligations at year end (7,551) (6,525) (5,958) Net balance at year end 673 670 846 |
Schedule of plan expected profit | Plan expected profit: As of December 31, 2020 2019 2018 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, 2020 2019 2018 MCh$ MCh$ MCh$ Current period service expenses 1,026 566 1,069 Interest cost - - - Expected yield from plan’s assets (385) (333) (353) Expected yield of insurance contracts linked to the Plan: - Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 641 233 716 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of fair value measurement [text block] [Abstract] | |
Schedule of financial assets and liabilities | As of December 31, 2020 2019 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Financial derivative contracts 133,718 133,718 8,148,608 8,148,608 Financial assets held for trading 9.032.085 9,032,085 270,204 270,204 Loans and accounts receivable at amortized cost, net 33,303,100 36,921,368 31,775,420 34,602,793 Loans and accounts receivable at FVOCI, net 69,331 69,331 66,065 66,065 Debt instrument at FVOCI 7,162,542 7,162,542 4,010,272 4,010,272 Guarantee deposits (margin accounts) 608,359 608,359 314,616 314,616 Liabilities Deposits and interbank borrowings 31,471,283 32,047,227 26,010,067 26,200,921 Financial derivative contracts 9,018,660 9,018,660 7,390,654 7,390,654 Issued debt instruments and other financial liabilities 8,388,495 9,590,678 9,727,081 10,718,997 Guarantees received (margin accounts) 624,205 624,205 994,714 994,714 |
Schedule of assets and liabilities on recurrent basis | Fair value measurement As of December 31, 2020 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Financial assets held for trading 133,718 132,246 1,472 - Loans and accounts receivable at FVOCI, net 69,331 - - 69,331 Debt instruments at FVOCI 7,162,542 7,145,285 16,731 526 Derivatives 9,032,085 - 9,024,484 7,601 Guarantee deposits (margin accounts) 608,359 - 608,359 - Total 17,006,035 7,277,531 9,651,046 77,458 Liabilities Derivatives 9,018,660 - 9,015,900 2,760 Guarantees received (margin accounts) 624,205 - 624,205 - Total 9,642,865 - 9,640,105 2,760 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 |
Schedule of assets or liabilities which are not measured at fair value | Fair value measurement As of December 31, 2020 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortized cost, net 36,921,368 - - 36,921,368 Total 36,921,368 36,921,368 Liabilities Deposits and interbank borrowings 32,047,227 - 17,486,334 14,560,893 Issued debt instruments and other financial liabilities 9,590,678 - 9,590,678 - Total 41,637,905 - 27,077,012 14,560,893 Fair value measurement As of December 31, 2019 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable at amortized 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 |
Schedule of financial instruments classified as Level 3 | As of December 31, 2020 Instrument Level 3 Valuation technique Main unobservable Impacts (in MCh$) Impacts (in MCh$) Derivatives Present Value method Curves on TAB (1) (1.3) (1.3) Debt instruments at FVOCI Internal rate of return method BR UF (2) - - As of December 31, 2019 Instrument Level 3 Valuation technique Main unobservable Impacts Impacts (in MCh$) Derivatives Present Value method Curves on TAB (1) (2.3) 2.3 Debt instruments at FVOCI Internal rate of return method BR UF (2) - - |
Schedule of assets and liabilities measured at fair value on a recurrent basis using unobserved significant entries (Level 3) | Assets Liabilities MCh$ MCh$ As of January 1, 2020 81,678 2,950 Total realized and unrealized profits (losses) Included in statements of income (196) 1,012 Included in other comprehensive income 3,087 - Purchases, issuances, and loans (net) - - Level transfer (7,111) (1,202) As of December 31, 2020 77,458 2,760 Total profits or losses included in comprehensive income for 2020 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2019 (4,220) (190) 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) - - Level transfer - - 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 |
Schedule of financial instruments subject to compensation | Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount Remains of unrelated Amount in Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts (*) 8.840.436 - 8.840.436 191,649 9,032,085 Investments under resale agreements - - - Loans and accounts receivable at amortized cost, net - - - Loans and accounts receivable at FVOCI, net - - - 33,303,100 33,303,100 Total 8.840.436 - 8.840.436 33,494,749 42,335,185 Liabilities Financial derivative contracts (*) 8,922,079 - 8,922,079 96,581 9,018,660 Investments under resale agreements 969,808 - 969,808 - 969,808 Deposits and interbank borrowings - - - 31,471,283 31,471,283 Total 9,891,887 - 9,891,887 31,567,864 41,459,751 Linked financial instruments, compensated in balance Financial instruments Gross Compensated in Net amount Remains of unrelated Amount in 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 amortized 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 |
Schedule of credit exposure in its financial derivative operations | As of December 31, 2020 As of December 31, 2019 Financial derivative contracts Assets Liability Assets Liability MCh$ MCh$ MCh$ MCh$ Financial derivative contracts with collateral agreement threshold equal to zero 8,127,263 7,900,539 7,478,837 6,748,219 Financial derivative contracts with non-zero threshold collateral agreement 471,529 606,661 532,298 517,814 Financial derivative contracts without collateral agreement 433,293 511,460 137,472 124,621 Total 9,302,085 9,018,660 8,148,607 7,390,654 |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial risk management [text block] [Abstract] | |
Schedule of high, low and average levels | VaR 2020 USDMM 2019 USDMM Consolidated: High 12.82 15.78 Low 1.94 1.33 Average 4.45 3.06 Fixed-income investments: High 11.96 9.77 Low 1.50 1.18 Average 3.19 2.33 Variable-income investments High 0.01 - Low - 0.01 Average - - Foreign currency investments High 6.47 6.05 Low 0.71 0.10 Average 2.85 1.60 |
Schedule of market risk | 2020 2019 Effect on Effect on Effect on Effect on Financial management portfolio – local currency (MCh$) Loss limit 100,000 329,275 100,000 275,000 High 66,504 302,263 32,719 273,473 Low 26,492 214,596 12,686 145,338 Average 45,380 255,070 24,719 228,772 Financial management portfolio – foreign currency (Th$US) Loss limit 32 53 30 75 High 19 47 20 35 Low 2 12 5 1 Average 5 33 12 12 Financial management portfolio – consolidated (in MCh$) Loss limit 100,000 329,275 100,000 275,000 High 67,584 286,436 34,462 271,989 Low 25,111 210,706 15,236 143,836 Average 46,044 246,292 27,918 227,303 |
Schedule of exposures of financial assets and liabilities impacted by IBOR reform | Loans and Deposits Debt instruments Financial derivative Financial derivative (Liabilities) MCh$ MCh$ MCh$ MCh$ MCh$ 362,331 582,979 200,301 614,035 483,789 |
Schedule of quality assets and its related provision | December 31, 2020 Individually assessed Commercial Portfolio Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 45,862 - - 45,862 0.13% 3 - - 3 0.00% A2 1,095,506 3,265 - 1,098,771 3.20% 900 54 - 954 0.09% A3 1,863,480 19,658 - 1,883,138 5.48% 3,318 339 - 3,657 0.35% A4 2,632,793 42,529 - 2,675,322 7.79% 7,329 606 - 7,935 0.77% A5 2,538,748 164,341 232 2,703,321 7.87% 11,498 4,618 78 16,194 1.56% A6 1,588,410 289,460 53 1,877,923 5.47% 16,541 14,010 53 30,604 2.95% B1 - 715,348 - 715,348 2.08% - 25,679 - 25,679 2.48% B2 - 161,239 233 161,472 0.47% - 9,566 138 9,704 0.94% B3 - 65,684 695 66,379 0.19% - 3,764 434 4,198 0.40% B4 - 73,248 49,430 122,678 0.36% - 3,008 21,014 24,022 2.32% C1 - 29,863 138,171 168,034 0.49% - 2,201 48,365 50,566 4.88% C2 - 12,282 69,491 81,773 0.24% - 926 27,021 27,947 2.70% C3 - 1,550 55,378 56,928 0.17% - 86 15,603 15,689 1.51% C4 - 2,227 48,177 50,404 0.15% - 143 21,038 21,181 2.04% C5 - 3,981 36,822 40,803 0.12% - 267 20,397 20,664 1.99% C6 - 5,040 131,384 136,424 0.40% - 185 107,364 107,549 10.37% Subtotal 9,764,799 1,589,715 530,066 11,884,580 34.61% 39,589 65,452 261,505 366,546 35.35% 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 4,493,999 228,591 380,019 5,102,609 14.86% 40,943 44,315 193,268 278,526 26.86% Mortgage 11,518,363 392,372 501,090 12,411,825 36.14% 25,065 8,441 79,016 112,522 10.85% Consumer 4,439,163 236,595 265,121 4,940,879 14.39% 88,825 31,732 158,642 279,199 26.93% Subtotal 20,451,525 857,558 1,146,230 22,455,313 65.39% 154,833 84,488 430,926 670,247 64.65% Total 30,216,324 2,447,273 1,676,296 34,339,893 100.00% 194,422 149,940 692,431 1,036,793 100.00% December 31, 2019 Individually assessed Commercial Stage 1 Stage 2 Stage 3 Total Individual Percentage Stage 1 Stage 2 Stage 3 Total ECL Percentage 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 Allowance 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% |
Schedule of net losses from operational risks | Collectively assessed Individually assessed Mortgages Other loans Revolving (Credit cards) Collectively assessed SME Individually assessed SME Middle market Corporate and Investment Banking 39.57% 39.11% 15.73% 39.11% 22.69% 4.5% Santander Group criteria Collectively assessed Individually assessed Mortgages Other loans Revolving (Credit cards) Collectively assessed SME Individually assessed SME Middle market Corporate and Investment Banking 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 considered to be substandard or in incompliance (pre-legal action) Clients considered to be substandard or in incompliance (pre-legal action) Clients considered to be substandard or in incompliance (pre-legal action) |
Schedule of allowance and exposure at default (EAD) of the loans | 2020 2019 MCh$ MCh$ Loans and account receivable 224,087 128,161 Allowance for ECL 119,537 53,741 |
Schedule of modified loans | As of December 31, 2020 As of December 31, 2019 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 30,216,324 2,447,273 1,676,296 34,339,893 29,041,636 1,995,733 1,634,146 32,671,515 Modified loans - 799,572 886,021 1,685,593 - 512,529 611,316 1,123,845 % - 36.67% 52.86% 4,91% - 25.68% 37.41% 3.44% ECL allowance 194,422 149,940 692,431 1,036,793 133,269 121,261 641,565 896,095 Modified loans 33,118 409,485 442,603 - 36,329 242,649 278,978 % 22.09% 59.14% 42.69% - 29.96% 37.82% 31.13% |
Schedule of classification of relief measures | COVID-19 measures As of December 31, 2020 MCh$ Fogape loans 2,076,119 Payment holiday 9,098,028 Payment holiday – current 734,986 Payment holiday - expired 8,363,042 |
Schedule of residual maturity over measured that have not expired | Residual maturity <= 6 <= 12 <= 2 > 2 year MCh$ MCh$ MCh$ MCh$ MCh$ Fogape loans 2,076,119 - - 214,400 1,861,719 Payment holiday – current 734,986 722,746 7,861 4,379 - |
Schedule of macro economical forward | Average estimates 2020 - 2021 Unfavorable Unfavorable Base Favorable Favorable 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 | Local scenario Global scenario Probability Probability 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 | December 31, 2020 December 21,2019 MCh$ MCh$ Reported ECL allowance 1,036,793 896,095 Gross carrying amount 34,339,893 32,671,515 Reported ECL Coverage 3.02% 2.74% ECL amount by scenarios Favorable scenarios 2 876,654 797,501 Favorable scenarios 1 930,044 835,956 Base scenarios 981,671 884,480 Unfavorable scenarios 2 1,047,127 929,802 Unfavorable scenarios 2 1,083,371 962,437 Coverage ratio by scenarios Favorable scenarios 2 2.55% 2.44% Favorable scenarios 1 2.71% 2.56% Base scenarios 2.86% 2.71% Unfavorable scenarios 2 3.05% 2.85% Unfavorable scenarios 2 3.15% 2.95% |
Schedule of risk concentration | December 31, 2020 December 31, 2019 (*) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Manufacturing 1,180,220 130,361 67,640 1,378,221 1,110,484 107,356 67,974 1,285,814 Mining 265,195 161,631 6,789 433,615 280,297 123,005 3,739 407,041 Electricity, gas, and water 349,849 27,848 6,577 384,274 309,941 22,907 8,196 341,044 Agriculture and livestock 1,024,795 233,552 87,517 1,345,864 1,020,857 172,984 93,440 1,287,281 Forest 141,892 23,463 13,820 179,175 132,483 17,035 15,689 165,207 Fishing 209,182 20,128 4,842 234,152 223,980 24,879 7,695 256,554 Transport 622,161 97,624 58,076 777,861 665,570 64,115 34,192 763,877 Communications 294,957 28,433 7,725 331,115 206,660 28,122 6,168 240,950 Construction (*) 811,807 61,828 85,734 959,369 782,265 85,435 106,568 974,268 Commerce 2,549,770 223,884 89,684 2,863,338 2,655,982 110,326 30,107 2,796,415 Services 3,506,443 393,319 239,535 4,139,297 2,971,563 190,097 204,472 3,366,132 Other 3,302,527 416,235 242,146 3,960,908 3,442,541 298,806 236,395 3,977,742 Subtotal 14,258,798 1,818,306 910,085 16,987,189 13,802,623 1,245,067 814,635 15,862,325 Mortgage loans 11,518,363 392,372 501,090 12,411,825 10,275,966 457,948 529,081 11,262,995 Consumer loans 4,439,163 236,595 265,121 4,940,879 4,963,047 292,718 290,430 5,546,195 Total 30,216,324 2,447,273 1,676,296 34,339,893 29,041,636 1,995,733 1,634,146 32,671,515 (*) In 2019 we improved the classification of our construction loans, reassigning loans for real estate rental investment companies to services |
Schedule of financial assets and associated collateral | As of December 31, 2020 2019 Maximum exposure to credit risk Collateral Net exposure Associated ECL Maximum exposure to credit risk Collateral Net Associated ECL MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans 17,057,874 9,887,154 7,170,720 646,426 15,928,491 8,180,015 7,748,476 506,670 Mortgage loans 12,411,825 11,931,235 480,590 112,522 11,262,995 10,725,604 537,391 101,059 Consumer Loans 4,940,879 653,066 4,287,813 279,199 5,546,195 748,577 4,797,618 288,467 Total 34,410,578 22,471,455 11,939,123 1,038,147 32,737,681 19,654,196 13,083,485 896,196 (*) Includes Loans and account receivable at FVOCI |
Schedule of financial assets and off-balance sheet commitments | As of December 31, 2020 2019 Amount of exposure Amount of exposure Note MCh$ MCh$ Deposits in banks 4 2,137,891 2,693,342 Cash items in process of collection 4 452,963 355,062 Financial derivative contracts 7 9,032,085 8,148,608 Financial assets held for trading 5 133,718 270,204 Loans and account receivable at amortized cost / Loans and account receivable at FVOCI 8/ 9 33,372,431 31,841,485 Debt instrument at fair value through other comprehensive income 10 7,162,542 4,010,272 Off-balance commitments: Letters of credit issued 165,119 140,572 Foreign letters of credit confirmed 82,779 70,192 Performance guarantees 1,090,643 1,929,894 Available credit lines 8,391,414 8,732,422 Personal guarantees 441,508 451,950 Other irrevocable credit commitments 406,234 485,991 Total 62,869,327 59,129,994 |
Schedule of fair value of derivative instruments | Country Classification Derivative Instruments Deposits Loans Financial Total US$ millions Colombia 2 0.81 - - - 0.81 Italy 2 - 3.36 0.13 - 3.49 Mexico 2 9.86 0.03 - - 9.89 Panama 2 5.77 - - - 5.77 Peru 2 1.61 - - - 1.61 Total 18.05 3.39 0.13 - 21.57 Counterpart Country Classification Derivative MUSD Deposits Loans Financial Exposure US$ millions Banco Santander España (*) Spain 1 176.34 139.90 - - 316.24 Santander UK UK 1 20.95 0.05 - - 21.00 Banco Santander Mexico Mexico 2 9.88 0.03 - - 9.91 Santander Group 207.17 139.98 - - 347.15 (*) We have included our exposure to Santander’s branches in New York and Hong Kong as exposure to Spain. |
Schedule of security interests, collateral, or credit improvements | As of December 31, 2020 2019 MCh$ MCh$ Non-impaired financial assets: Properties/mortgages 25,424,161 23,371,510 Investments and others 2,306,062 2,785,219 Impaired financial assets: Properties/ mortgages 1,548,568 1,245,971 Investments and others 65,668 565,951 Total 29,344,459 27,968,651 |
Schedule of breakdown of bank's liquid assets by levels | As of December 31, 2020 2019 MCh$ MCh$ Balance as of: Cash and cash equivalent 988,320 1,305,534 Level 1 liquid assets (1) 2,490,810 2,452,599 Level 2 liquid assets (2) 12,681 15,105 Total liquid assets 3,491,811 3,773,238 (1) Includes instruments issued by the Central Bank of Chile or other central banks with a AAA rating, instruments issued by the Chilean government or other sovereign with a AAA rating and instruments issued by development banks with a AAA rating. Assets encumbered through repurchase agreements are deducted from the liquidity portfolio including those left as collateral under the FCIC funding program with the Central Bank of Chile. (2) Includes instruments issued by governments, central banks and development banks of foreign countries with a risk rating of A- to AA+ and mortgage bonds issued by Chilean banks that are acceptable at the Chilean Central Bank’s repo window. |
Schedule of exposure to liquidity risk | As of December 31, 2020 % 2019 % 30 days 30 63 30 days foreign currency 15 - 90 days 32 79 |
Schedule of breakdown by maturity | As of December 31, 2020 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal after 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Obligations under repurchase agreements - 969,808 - - 969,808 - - - - 969,808 Checking accounts, time deposits and other time liabilities 15,082,442 5,843,682 2,912,985 1,434,246 25,273,355 163,053 44,384 23,523 230,960 25,504,315 Financial derivatives contracts - 386,690 445,376 931,358 1,763,424 1,552,482 1,708,509 3,994,245 7,255,236 9,018,660 Interbank borrowings 16,832 238,414 222,992 855,434 1,333,672 1,140,426 3,854,501 - 4,994,927 6,328,599 Issue debt instruments - 344,732 447,117 343,156 1,135,005 1,813,341 2,499,560 2,756,271 7,069,172 8,204,177 Lease liabilities 144,478 38,148 1,375 27 184,028 89 105 96 290 184,318 Other financial liabilities - - - 25,526 25,526 44,933 35,679 43,447 124,059 149,585 Subtotal 15,243,752 7,821,474 4,029,845 3,589,746 30,684,818 4,714,324 8,142,738 6,817,583 19,674,644 50,359,462 Contractual interest payments 86,195 18,938 72,710 242,462 420,305 143,531 137,902 25,676 307,109 727,413 Total 15,329,947 7,840,412 4,102,555 3,832,208 31,105,122 4,857,855 8,280,640 6,843,258 19,981,753 51,086,875 Other Commercial Commitments Up to 1 Between 1 Between 3 Between 1 More than Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Performance guarantee 114,653 181,399 437,835 350,136 6,620 1,090,643 Confirmed foreign letters of credit 18,247 48,056 16,163 313 - 82,779 Letters of credit issued 42,089 83,764 36,201 3,065 - 165,119 Pledges and other commercial commitments 33,588 29,958 367,164 10,798 - 441,508 Total other commercial commitments 208,577 343,177 857,363 364,312 6,620 1,780,050 As of December 31, 2019 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal after 1 year Total 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 Other Commercial Commitments Up to 1 Between 1 Between 3 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 |
Schedule of net losses from operational risks | As of December 31, Net losses from operational risks 2020 2019 Fraud 4,703 3,941 Labor related 443 461 Client / product related 250 653 Damage to fixed assets (2,592) 3,588 Business continuity / Systems 1,570 234 Processing 3,992 2,106 Total 8,366 10,983 |
Schedule of levels of basic capital and effective net equity | Ratio As of December 31, As of December 31, 2020 2019 2020 2019 MCh$ MCh$ % % Basic capital 3,567,916 3,390,823 6.69 6.96 Regulatory capital 5,143,843 4,304,401 15.37 12.86 |
Non Current Assets Held for S_2
Non Current Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Non Current Assets Held For Sale [Abstract] | |
Schedule of other assets as assets held for sale | As of December 31, 2020 2019 Participation Assets Income Assets Income % MCh$ MCh$ MCh$ MCh$ Transbank 25.00 19,093 - 19,093 1,442 Nexus - - - 357 136 Redbanc 33.43 2,943 - 2,943 121 Total 22.036 - 22,393 1,699 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Foreign exchange rate | 747.37 | |
Incremental interest rate | 1.45% | |
Fogape's annual sales, description | The largest measure was to provide additional funds to the Guarantee Fund for Small Companies (Fogape), a state fund that guarantees loans, leases and other credits provided to small businesses, extend Fogape’s coverage to companies with annual sales of up to UF 1 million and further amend the rules and regulations governing Fogape to encourage banks to provide lending to small businesses. Under Fogape’s new regulations, domestic banks, including us, may provide loans with preferential interest rates equal to the MPR plus 3% and terms of up to 48 months to eligible companies in an aggregate amount equal to up to 3 months of a company’s sales and receive a guarantee from Fogape for between 60% and 85% of each loan (“Fogape loans”). Such loans must have a 6-month grace period before a company must begin paying the loan. In addition, companies that receive loans guaranteed by Fogape pursuant to these new regulations, will also have payment holiday for all other outstanding loans until a period of 6 months. | |
Average cost to sale of assets | 3.20% | 3.10% |
Percentage of net income | 0.30 | 0.30 |
CLF [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Foreign exchange rate | 29,070.33 | 28,309.94 |
Percentage of inflation | 2.70% | 2.70% |
USD [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Foreign exchange rate | 1 | |
Banco Santander-Chile [Member] | Banco Santander Spain [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Proportion of ownership interest in subsidiary | 99.50% | |
Teatinos Siglo XXi inversiones Ltda [Member] | Banco Santander Spain [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Santander-Chile Bank [Member] | Banco Santander Spain [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Proportion of ownership interest in subsidiary | 67.18% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of subsidiaries | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Santander Corredora de Seguros Limitada [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of subsidiaries [Line Items] | ||||
Name of the Subsidiary | [1] | Santander Asesorias Financieras Limitada (1) | ||
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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of subsidiaries [Line Items] | ||||
Name of the Subsidiary | [2] | Klare Corredora de Seguros S.A. (2) | ||
Main Activity | [2] | Insurance brokerage | ||
Country | [2] | Santiago, Chile | ||
Direct interest Owned | [2] | 50.10% | 50.10% | |
Indirect interest Owned | [2] | |||
Total interest Owned | [2] | 50.10% | 50.10% | |
Santander Consumer Chile S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of subsidiaries [Line Items] | ||||
Name of the Subsidiary | [3] | Santander Consumer Chile S.A. (3) | ||
Main Activity | [3] | Financing | ||
Country | [3] | Santiago, Chile | ||
Direct interest Owned | [3] | 51.00% | 51.00% | |
Indirect interest Owned | [3] | |||
Total interest Owned | [3] | 51.00% | 51.00% | |
Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of subsidiaries [Line Items] | ||||
Name of the Subsidiary | [4] | Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. (4) | ||
Main Activity | [4] | Card operator | ||
Country | [4] | Santiago, Chile | ||
Direct interest Owned | [4] | 99.99% | ||
Indirect interest Owned | [4] | 0.01% | ||
Total interest Owned | [4] | 100.00% | ||
[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. | |||
[4] | On July 6, 2020, the registration of a new subsidiary and business support company named “Sociedad Operadora de Tarjeta de Pago Santander Getnet Chile S.A” was made. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of associates | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Redbanc S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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 | [1] | 33.43% | ||
Transbank S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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 | [1] | 25.00% | ||
Centro de Compensación Automatizado [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of associates [Line Items] | ||||
Associates | Centro de Compensacin 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of associates [Line Items] | ||||
Associates | Sociedad Interbancaria de Depsito 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of associates [Line Items] | ||||
Associates | Cmara Compensacin de Alto Valor S.A. | |||
Main activity | Payments clearing | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 15.00% | 15.00% | 15.00% | |
Administrador Financiero del Transantiago S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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 | [1] | 12.90% | ||
Servicios de Infraestructura de Mercado OTC S.A. [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule 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 | 12.48% | 12.48% | 12.48% | |
[1] | The Bank is in process to sell its share participation on Redbanc S.A. and Transbank S.A. therefore it has been classified in accordance to IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations” as investment available for sale. Otherwhise its share participation in Nexus S.A., has been sold. See Note N°38. |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets | 12 Months Ended |
Dec. 31, 2020 | |
Land [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | |
Paintings and works of art [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | |
Carpets and curtains [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 36 months |
Computers and hardware[Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 36 months |
Vehicles [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 36 months |
IT systems and software [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 36 months |
ATMs [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Other machines and equipment [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Office furniture [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Telephone and communication systems [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Security systems [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Rights over telephone lines [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 60 months |
Air conditioning systems [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 84 months |
Other installations [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 120 months |
Buildings [member] | |
Summary of Significant Accounting Policies (Details) - Schedule of useful lives for the tangible assets [Line Items] | |
Useful life | 1200 months |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs | 12 Months Ended |
Dec. 31, 2020 | |
Write-offs [Member] | Consumer Loans With Or Without Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 6 months |
Write-offs [Member] | Other Transactions Without Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 24 months |
Write-offs [Member] | Commercial Loans With Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 36 months |
Write-offs [Member] | Mortgage Loans [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 48 months |
Write-offs [Member] | Consumer Leasing [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 6 months |
Write-offs [Member] | Other Non-Mortgage Leasing Transactions [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 12 months |
Write-offs [Member] | Mortgage Leasing (Household And Business) [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 36 months |
Charge-offs [Member] | Consumer Loans With Or Without Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 6 months |
Charge-offs [Member] | Other Transactions Without Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 24 months |
Charge-offs [Member] | Commercial Loans With Collateral [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 36 months |
Charge-offs [Member] | Mortgage Loans [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 48 months |
Charge-offs [Member] | Consumer Leasing [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 6 months |
Charge-offs [Member] | Other Non-Mortgage Leasing Transactions [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 12 months |
Charge-offs [Member] | Mortgage Leasing (Household And Business) [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of loan and accounts receivable charge-offs [Line Items] | |
Term | 36 months |
Significant Events (Details)
Significant Events (Details) - $ / shares | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 23, 2020 | Mar. 20, 2020 | Dec. 31, 2020 | |
Significant Events (Details) [Line Items] | ||||
Shareholders dividend per share | $ 0.87891310 | |||
Earning percentage | 30.00% | |||
Profits used to increase the banks reserves | 40.00% | |||
Chilean law description | In accordance with Chilean laws, the Board of Directors of Banco Santander agreed, on the session held on October 21, 2020, to call an Extraordinary Shareholders’ Meeting for November 26, 2020 in order to discuss the proposed distribution of a dividend of $0.87891310 Chilean pesos per share, corresponding to 30% of the profits for the year 2019, which are classified as retained profits in the Bank’s equity, taking into account that, the ratio between the Bank’s regulatory capital and its risk-weighted assets reached 15.13%, and the ratio between basic capital and its risk-weighted assets was 10.70% as of September 30, 2020. | |||
Shareholder’s meeting description | At the extraordinary Shareholders’ Meeting of Banco Santander held on April 30, 2020, the members approved the Consolidated Financial Statements for 2019, and agreed to distribute 30% of the net profits for 2019 (“Net income attributable to shareholders of the Bank “), which amounted to $552,093 million, which correspond to a dividend of $0.87891310 Chilean pesos per share. Likewise, the members agreed to increase the Bank’s reserves by 40% and the remaining 30% will be classified as retained earnings from previous years. Board election: the members approved the election of Messrs. Alfonso Gómez, Claudio Melandri, Rodrigo Vergara, Félix de Vicente, Orlando Poblete, Juan Pedro Santa María, Ana Dorrego, Rodrigo Echenique and Lucía Santa Cruz, as Directors, and Blanca Bustamante and Oscar von Chrismar, as Alternate Directors, elected for a period of three years until the next renewal of the entire Board of Directors. Appointment of external auditors: the members approved PricewaterhouseCoopers Consultores Auditores SpA as external auditors for the 2020 financial year. At the Extraordinary Shareholders’ Meeting of Banco Santander held on November 26, 2020, the members agreed to distribute a dividend of $0.87891310 Chilean pesos per share, corresponding to 30% of the retained earnings for 2019, which was paid on the following banking business day after the meeting date. | |||
Vaccination plan, description | The vaccination plan against COVID-19 began on December 24, 2020, with the first arrival of 9,750 doses of the vaccine from the Pfizer BioNtech laboratory. As of December 31, 2020, Chile had received 154,050 doses of the Pfizer BioNtech vaccine, for the vaccination plan in all regions of the country, and will receive more than 6.5 million doses of the AstraZeneca / Oxford vaccine during the first quarter of 2021 and more than 10 million of Coronavac vaccines, to continue the vaccination plan in its next stages. At the time of publication of these financial statements, 2,320,696 people have been vaccinated in Chile, which represents 13% of the population. During the first quarter of 2021, it is expected to vaccinate around 5 million people and reach 80% of the population, that is, approximately 15 million people, by the end of the first half of 2021. | |||
Digital insurance broker percentage | 100.00% | |||
New subsidiaries, description | This is a banking support and subsidiary company of Banco Santander with a 99.99% share participation (Santander Asesorias Financieras Limitada has a 0.01% share participation). | |||
Bank has issued senior bonds | As at December 31, 2020 the Bank has issued subordinated bonds for an amount of USD200,000,000 and UF5,000,000. | |||
First Line of Credit [Member] | ||||
Significant Events (Details) [Line Items] | ||||
Maturity term years | 4 years | |||
Second Line of Credit [Member] | ||||
Significant Events (Details) [Line Items] | ||||
Maturity term years | 2 years | |||
Subsequent Event [Member] | ||||
Significant Events (Details) [Line Items] | ||||
Distribution and payment of dividends, percentage | 60.00% | |||
Retained earnings percentage | 30.00% |
Significant Events (Details) -
Significant Events (Details) - Schedule of senior bonds $ in Millions | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
USD [Member] | Senior Bonds [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | USD |
Amount | $ 750,000,000 |
USD [Member] | Senior Bonds [Member] | Bonos USD [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | USD |
Term (annual) | 5 years |
Issuance rate (annual) | 2.70% |
Issuance date | Jan. 7, 2020 |
Amount | $ 750,000,000 |
Maturity date | Jan. 7, 2025 |
USD [Member] | Subordinated Bonds [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | USD |
Amount | $ 200,000,000 |
USD [Member] | Subordinated Bonds [Member] | Bonos USD [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | USD |
Term (annual) | 10 years |
Issuance rate (annual) | 3.79% |
Issuance date | Jan. 21, 2020 |
Amount | $ 200,000,000 |
Maturity date | Jan. 21, 2030 |
UF [Member] | Subordinated Bonds [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | UF |
Amount | $ 5,000,000 |
UF [Member] | Subordinated Bonds [Member] | USTDW20320 [Member] | |
Significant Events (Details) - Schedule of senior bonds [Line Items] | |
Currency | UF |
Term (annual) | 15 years and 3 months |
Issuance rate (annual) | 3.50% |
Issuance date | Mar. 1, 2020 |
Amount | $ 5,000,000 |
Maturity date | Sep. 1, 2035 |
Reporting Segments (Details)
Reporting Segments (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
Retail Banking [Member] | |
Reporting Segments (Details) [Line Items] | |
Revenue | $ 2,000 |
Middle Market [Member] | |
Reporting Segments (Details) [Line Items] | |
Revenue | 800 |
Middle Market [Member] | Bottom of range [member] | |
Reporting Segments (Details) [Line Items] | |
Revenue | 2,000 |
Global Investment Banking [Member] | |
Reporting Segments (Details) [Line Items] | |
Revenue | $ 10,000 |
Reporting Segments (Details) -
Reporting Segments (Details) - Schedule of reporting segment $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018CLP ($) | Dec. 31, 2018USD ($) | ||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Net interest income | $ 1,593,848 | $ 1,416,964 | $ 1,414,368 | ||||
Other operating income | 8,206 | 13,001 | 23,129 | ||||
Income from investments in associates and other companies | 1,388 | 1,146 | 1,324 | ||||
Income tax expense | (142,533) | (175,074) | (167,144) | ||||
Result of continuing operations | 552,730 | 619,614 | 595,923 | ||||
Result of discontinued operations (in Dollars) | $ 1,699 | $ 3,770 | |||||
Net income for the year | 552,730 | 621,313 | 599,693 | ||||
Retail Banking [Member] | |||||||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Loans and accounts receivable at amortised cost | [1] | 24,279,248 | 22,926,377 | 20,786,637 | |||
Net interest income | 1,049,543 | 960,361 | 949,764 | ||||
Net fee and commission income | 213,431 | 230,627 | 220,532 | ||||
Financial transactions, net | [2] | 28,577 | 28,426 | 19,694 | |||
Expected credit losses | (317,050) | (279,969) | (287,739) | ||||
Support expenses | [3] | (596,464) | (575,511) | (553,157) | |||
Segment’s net contribution | 378,038 | 363,934 | 349,094 | ||||
Middle Market [Member] | |||||||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Loans and accounts receivable at amortised cost | [1] | 8,136,402 | 8,093,496 | 7,690,380 | |||
Net interest income | 346,225 | 298,587 | 272,912 | ||||
Net fee and commission income | 38,335 | 38,712 | 36,746 | ||||
Financial transactions, net | [2] | 21,859 | 13,535 | 16,848 | |||
Expected credit losses | (109,999) | (38,746) | (26,314) | ||||
Support expenses | [3] | (91,132) | (97,054) | (92,377) | |||
Segment’s net contribution | 205,287 | 215,034 | 207,815 | ||||
CIB [Member] | |||||||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Loans and accounts receivable at amortised cost | [1] | 1,635,217 | 1,603,633 | 1,613,088 | |||
Net interest income | 114,229 | 98,154 | 96,722 | ||||
Net fee and commission income | 23,180 | 29,103 | 35,064 | ||||
Financial transactions, net | [2] | 82,303 | 94,761 | 57,340 | |||
Expected credit losses | (51,097) | 223 | 2,339 | ||||
Support expenses | [3] | (72,715) | (65,343) | (64,913) | |||
Segment’s net contribution | 95,900 | 156,898 | 126,552 | ||||
Other [Member] | |||||||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Loans and accounts receivable at amortised cost | [1] | 289,026 | 48,009 | 123,310 | |||
Net interest income | 83,851 | 59,862 | 94,970 | ||||
Net fee and commission income | (7,668) | (11,356) | (1,457) | ||||
Financial transactions, net | [2] | 17,058 | 64,970 | 11,200 | |||
Expected credit losses | (118) | (4,819) | (5,694) | ||||
Support expenses | [3] | (8,235) | (11,953) | (11,486) | |||
Segment’s net contribution | 84,888 | 96,704 | 87,533 | ||||
Total [Member] | |||||||
Reporting Segments (Details) - Schedule of reporting segment [Line Items] | |||||||
Loans and accounts receivable at amortised cost | [1] | 34,339,893 | 32,671,515 | 30,213,415 | |||
Net interest income | 1,593,848 | 1,416,964 | 1,414,368 | ||||
Net fee and commission income | 267,278 | 287,086 | 290,885 | ||||
Financial transactions, net | [2] | 149,797 | 201,692 | 105,082 | |||
Expected credit losses | (478,264) | (323,311) | (317,408) | ||||
Support expenses | [3] | (768,546) | (749,861) | (721,933) | |||
Segment’s net contribution | 764,113 | 832,570 | 770,994 | ||||
Other operating income | 8,206 | 13,001 | 23,129 | ||||
Other operating expenses and impairment | (78,444) | (52,029) | (32,381) | ||||
Income from investments in associates and other companies | 1,388 | 1,146 | 1,325 | ||||
Income tax expense | $ (142,533) | $ (175,074) | $ (167,144) | ||||
[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. |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - Schedule of cash and cash equivalents - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and deposits in banks | ||
Cash | $ 665,397 | $ 861,178 |
Deposits at the Central Bank of Chile | 1,313,394 | 1,731,079 |
Deposits in local banks | 1,571 | 948 |
Deposits in banks abroad | 822,926 | 961,315 |
Subtotals – Cash and deposits in banks | 2,803,288 | 3,554,520 |
Net cash items in process of collection | 91,332 | 156,814 |
Cash and cash equivalents | $ 2,894,620 | $ 3,711,334 |
Cash and Cash Equivalents (De_2
Cash and Cash Equivalents (Details) - Schedule of cash in process of collection and in process - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Documents held by other banks (documents to be cleared) | $ 137,396 | $ 217,394 |
Funds receivable | 315,567 | 137,668 |
Subtotal | 452,963 | 355,062 |
Liabilities | ||
Funds payable | 361,631 | 198,248 |
Subtotal | 361,631 | 198,248 |
Cash in process of collection, net | $ 91,332 | $ 156,814 |
Financial Assets Held for Tra_3
Financial Assets Held for Trading (Details) - Schedule of instruments deemed as financial trading investments - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Chilean Central Bank and Government securities | ||
Total | $ 133,718 | $ 270,204 |
Chilean Central Bank and Government securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | 132,246 | 270,204 |
Chilean Central Bank and Government securities [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean Central Bank and Government securities | ||
Total | 419 | 1,952 |
Chilean Central Bank and Government securities [Member] | Chilean Central Bank Notes [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Chilean Central Bank and Government securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | 131,827 | 268,252 |
Other Chilean securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | 1,472 | |
Other Chilean securities [Member] | Time deposits in Chilean financial institutions [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Other Chilean securities [Member] | Mortgage finance bonds of Chilean financial institutions [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Other Chilean securities [Member] | Chilean financial institution bondsv | ||
Chilean Central Bank and Government securities | ||
Total | ||
Other Chilean securities [Member] | Chilean corporate bonds [Member] | ||
Chilean Central Bank and Government securities | ||
Total | 1,472 | |
Other Chilean securities [Member] | Other Chilean securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Foreign financial securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Foreign financial securities [Member] | Foreign Central Banks and Government securities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Foreign financial securities [Member] | Other foreign financial instruments [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Investments in mutual funds [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Investments in mutual funds [Member] | Funds managed by related entities [Member] | ||
Chilean Central Bank and Government securities | ||
Total | ||
Investments in mutual funds [Member] | Funds managed by others [Member] | ||
Chilean Central Bank and Government securities | ||
Total |
Investments under Resale Agre_3
Investments under Resale Agreements and Obligations under Repurchase Agreements (Details) - Schedule of selling financial instruments - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | $ 969,808,000 | $ 380,055,000 |
Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 399,000 | 131,000 |
Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Time deposits in Chilean financial institutions [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 399,000 | 131,000 |
Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Due Within 1 Year [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 969,808,000 | 380,018,000 |
Due Within 1 Year [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 399,000 | 127,000 |
Due Within 1 Year [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Due Within 1 Year [Member] | Time deposits in Chilean financial institutions [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 399,000 | 127,000 |
Due Within 1 Year [Member] | Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
More Than 3 Months To 1 Year [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 37,000 | |
More Than 3 Months To 1 Year [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 4,000 | |
More Than 3 Months To 1 Year [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
More Than 3 Months To 1 Year [Member] | Time deposits in Chilean financial institutions [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 4,000 | |
More Than 3 Months To 1 Year [Member] | Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Later than one year [member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Later than one year [member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Later than one year [member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Later than one year [member] | Time deposits in Chilean financial institutions [Member] | Instruments from other domestic institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Later than one year [member] | Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 969,409 | 379,924,000 |
Securities from Chilean Government and the Chilean Central Bank [Member] | Chilean Central Bank Bonds [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | Chilean Central Bank Notes [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 461,961 | |
Securities from Chilean Government and the Chilean Central Bank [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 507,448 | 379,924,000 |
Securities from Chilean Government and the Chilean Central Bank [Member] | Due Within 1 Year [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 969,409 | 379,891,000 |
Securities from Chilean Government and the Chilean Central Bank [Member] | Due Within 1 Year [Member] | Chilean Central Bank Bonds [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | Due Within 1 Year [Member] | Chilean Central Bank Notes [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 461,961 | |
Securities from Chilean Government and the Chilean Central Bank [Member] | Due Within 1 Year [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 507,448 | 379,891,000 |
Securities from Chilean Government and the Chilean Central Bank [Member] | More Than 3 Months To 1 Year [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 33,000 | |
Securities from Chilean Government and the Chilean Central Bank [Member] | More Than 3 Months To 1 Year [Member] | Chilean Central Bank Bonds [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | More Than 3 Months To 1 Year [Member] | Chilean Central Bank Notes [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | More Than 3 Months To 1 Year [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | 33,000 | |
Securities from Chilean Government and the Chilean Central Bank [Member] | Later than one year [member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | Later than one year [member] | Chilean Central Bank Bonds [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | Later than one year [member] | Chilean Central Bank Notes [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total | ||
Securities from Chilean Government and the Chilean Central Bank [Member] | Later than one year [member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Securities from Chilean Government and the Chilean Central Bank: | ||
Total |
Investments under Resale Agre_4
Investments under Resale Agreements and Obligations under Repurchase Agreements (Details) - Schedule of portfolio of collateral associated with repurchase agreements at fair value - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Chilean Central Bank and Government securities: | ||
Total | $ 969,907 | $ 380,055 |
Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 399 | 131 |
Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Time Deposits In Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 399 | 131 |
Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Available For Sale Portfolio [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 969,907 | 380,055 |
Available For Sale Portfolio [Member] | Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 399 | 131 |
Available For Sale Portfolio [Member] | Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Available For Sale Portfolio [Member] | Time Deposits In Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 399 | 131 |
Available For Sale Portfolio [Member] | Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Trading Portfolio [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Trading Portfolio [Member] | Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Trading Portfolio [Member] | Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Trading Portfolio [Member] | Time Deposits In Chilean Financial Institutions [Member] | Other Chilean Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Trading Portfolio [Member] | Securities from Government or foreign Central Banks [Member] | Instruments from other foreign institutions [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 969,508 | 379,924 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 461,965 | |
Chilean Central Bank And Government Securities [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 507,543 | 379,924 |
Chilean Central Bank And Government Securities [Member] | Available For Sale Portfolio [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 969,508 | 379,924 |
Chilean Central Bank And Government Securities [Member] | Available For Sale Portfolio [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Available For Sale Portfolio [Member] | Chilean Central Bank Notes [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 461,965 | |
Chilean Central Bank And Government Securities [Member] | Available For Sale Portfolio [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | 507,543 | 379,924 |
Chilean Central Bank And Government Securities [Member] | Trading Portfolio [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Trading Portfolio [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Trading Portfolio [Member] | Chilean Central Bank Notes [Member] | ||
Chilean Central Bank and Government securities: | ||
Total | ||
Chilean Central Bank And Government Securities [Member] | Trading Portfolio [Member] | Other securities from the Government and the Chilean Central Bank [Member] | ||
Chilean Central Bank and Government securities: | ||
Total |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedge Accounting (Details) - CLP ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of derivative financial instruments [text block] [Abstract] | ||
Percentage of hedges | 100.00% | |
Net assets or liabilities | $ 327,938 | $ 210,867 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of portfolio of derivative instruments - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair value hedge derivatives | ||
Notional amount | $ 363,668,609 | $ 377,131,597 |
Fair value Assets | 9,032,085 | 8,148,608 |
Fair value Liabilities | 9,018,660 | 7,390,654 |
Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 46,609,923 | 56,066,835 |
More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 51,494,013 | 84,086,430 |
More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 265,564,673 | 236,978,332 |
Fair value hedge derivatives [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 12,078,887 | 17,174,436 |
Fair value Assets | 328,378 | 266,330 |
Fair value Liabilities | 262,195 | 329,545 |
Fair value hedge derivatives [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 367,400 | 788,646 |
Fair value hedge derivatives [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 1,012,674 | 1,181,594 |
Fair value hedge derivatives [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 10,698,813 | 15,204,196 |
Fair value hedge derivatives [Member] | Interest rate swaps [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 5,524,800 | 2,546,386 |
Fair value Assets | 33,816 | 39,460 |
Fair value Liabilities | 83,666 | 34,264 |
Fair value hedge derivatives [Member] | Interest rate swaps [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 50,000 | 381,638 |
Fair value hedge derivatives [Member] | Interest rate swaps [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 410,687 | 317,610 |
Fair value hedge derivatives [Member] | Interest rate swaps [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 5,064,113 | 1,847,138 |
Fair value hedge derivatives [Member] | Cross currency swaps [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 6,554,087 | 14,628,050 |
Fair value Assets | 294,562 | 226,870 |
Fair value Liabilities | 178,529 | 295,281 |
Fair value hedge derivatives [Member] | Cross currency swaps [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 317,400 | 407,008 |
Fair value hedge derivatives [Member] | Cross currency swaps [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 601,987 | 863,984 |
Fair value hedge derivatives [Member] | Cross currency swaps [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 5,634,700 | 13,357,058 |
Cash flow hedge derivatives [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 13,926,410 | 16,939,379 |
Fair value Assets | 38,887 | 110,544 |
Fair value Liabilities | 186,942 | 46,688 |
Cash flow hedge derivatives [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 2,545,684 | 2,366,012 |
Cash flow hedge derivatives [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 1,001,653 | 2,956,878 |
Cash flow hedge derivatives [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 10,379,073 | 11,616,489 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 10,700,222 | 15,053,362 |
Fair value Assets | 35,902 | 106,413 |
Fair value Liabilities | 183,386 | 43,183 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 424,358 | 2,266,907 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 498,373 | 1,938,222 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 9,777,491 | 10,848,233 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 3,226,188 | 1,886,017 |
Fair value Assets | 2,985 | 4,131 |
Fair value Liabilities | 3,556 | 3,505 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 2,121,326 | 99,105 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 503,280 | 1,018,656 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 601,582 | 768,256 |
Trading derivatives [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 337,663,312 | 343,017,782 |
Fair value Assets | 8,664,820 | 7,771,734 |
Fair value Liabilities | 8,569,523 | 7,014,421 |
Trading derivatives [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 43,696,839 | 52,912,177 |
Trading derivatives [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 49,479,686 | 79,947,958 |
Trading derivatives [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 244,486,787 | 210,157,647 |
Trading derivatives [Member] | Interest rate swaps [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 133,928,254 | 146,680,442 |
Fair value Assets | 3,651,651 | 2,465,235 |
Fair value Liabilities | 3,588,912 | 2,270,686 |
Trading derivatives [Member] | Interest rate swaps [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 14,006,503 | 16,678,487 |
Trading derivatives [Member] | Interest rate swaps [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 22,118,742 | 40,892,909 |
Trading derivatives [Member] | Interest rate swaps [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 97,803,009 | 89,109,046 |
Trading derivatives [Member] | Cross currency swaps [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 160,209,466 | 141,390,865 |
Fair value Assets | 3,921,440 | 4,277,450 |
Fair value Liabilities | 3,819,446 | 3,605,516 |
Trading derivatives [Member] | Cross currency swaps [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 6,719,065 | 7,726,724 |
Trading derivatives [Member] | Cross currency swaps [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 15,138,056 | 20,457,463 |
Trading derivatives [Member] | Cross currency swaps [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 138,352,345 | 113,206,678 |
Trading derivatives [Member] | Currency forwards [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 43,120,437 | 54,660,752 |
Fair value Assets | 1,085,327 | 1,023,683 |
Fair value Liabilities | 1,158,904 | 1,137,496 |
Trading derivatives [Member] | Currency forwards [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 22,729,787 | 28,472,586 |
Trading derivatives [Member] | Currency forwards [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 12,175,074 | 18,508,702 |
Trading derivatives [Member] | Currency forwards [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 8,215,576 | 7,679,464 |
Trading derivatives [Member] | Call currency options [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 218,561 | 146,787 |
Fair value Assets | 1,527 | 5,176 |
Fair value Liabilities | 909 | 240 |
Trading derivatives [Member] | Call currency options [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 129,339 | 17,971 |
Trading derivatives [Member] | Call currency options [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 31,641 | 47,012 |
Trading derivatives [Member] | Call currency options [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 57,581 | 81,804 |
Trading derivatives [Member] | Put currency options [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 186,594 | 138,936 |
Fair value Assets | 4,875 | 190 |
Fair value Liabilities | 1,352 | 483 |
Trading derivatives [Member] | Put currency options [Member] | Due Within 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 112,145 | 16,409 |
Trading derivatives [Member] | Put currency options [Member] | More Than 3 Months To 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | 16,173 | 41,872 |
Trading derivatives [Member] | Put currency options [Member] | More Than 1 Year [Member] | ||
Fair value hedge derivatives | ||
Notional amount | $ 58,276 | $ 80,655 |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of fair value hedges - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Debt instruments at FVOCI | ||
Total | $ 9,183,930 | $ 9,689,985 |
Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 9,689,985 | |
Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 9,183,930 | |
Within 1 year [Member] | ||
Debt instruments at FVOCI | ||
Total | 156,948 | 1,336,940 |
Within 1 year [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,336,940 | |
Within 1 year [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 156,948 | |
Between 1 and 3 years [Member] | ||
Debt instruments at FVOCI | ||
Total | 871,171 | 1,962,401 |
Between 1 and 3 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,962,401 | |
Between 1 and 3 years [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 871,171 | |
Between 3 and 6 years [Member] | ||
Debt instruments at FVOCI | ||
Total | 6,543,356 | 2,634,486 |
Between 3 and 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 2,634,486 | |
Between 3 and 6 years [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 6,543,356 | |
Over 6 years [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,612,455 | 3,756,158 |
Over 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 3,756,158 | |
Over 6 years [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,612,455 | |
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 408,858 | 400,295 |
Chilean sovereign bonds [Member] | Within 1 year [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 10,687 | |
Chilean sovereign bonds [Member] | Between 1 and 3 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 10,687 | |
Chilean sovereign bonds [Member] | Between 3 and 6 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 138,044 | 5,605 |
Chilean sovereign bonds [Member] | Over 6 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 249,440 | 394,690 |
Mortgage financing bonds [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 918 | 2,728 |
Mortgage financing bonds [Member] | Between 1 and 3 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 918 | 2,728 |
US Treasury bonds [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 178,118 | 186,843 |
US Treasury bonds [Member] | Between 3 and 6 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 178,118 | 149,474 |
US Treasury bonds [Member] | Over 6 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 37,369 | |
Time deposits [Member] | Time deposits and other time liabilities [Member] | ||
Debt instruments at FVOCI | ||
Total | 116,455 | 1,192,695 |
Time deposits [Member] | Within 1 year [Member] | Time deposits and other time liabilities [Member] | ||
Debt instruments at FVOCI | ||
Total | 58,238 | 685,259 |
Time deposits [Member] | Between 1 and 3 years [Member] | Time deposits and other time liabilities [Member] | ||
Debt instruments at FVOCI | ||
Total | 58,217 | 281,921 |
Time deposits [Member] | Between 3 and 6 years [Member] | Time deposits and other time liabilities [Member] | ||
Debt instruments at FVOCI | ||
Total | 225,515 | |
Senior bonds [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 4,222,724 | 7,363,371 |
Senior bonds [Member] | Within 1 year [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 88,023 | 651,681 |
Senior bonds [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 801,349 | 1,133,698 |
Senior bonds [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 2,112,831 | 2,253,892 |
Senior bonds [Member] | Over 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,220,521 | 3,324,100 |
Subordinated bonds [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 391,857 | |
Subordinated bonds [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 249,363 | |
Subordinated bonds [Member] | Over 6 years [Member] | Issued debt instruments [Member] | ||
Debt instruments at FVOCI | ||
Total | 142,494 | |
hilean Central Bank loans [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 3,865,000 | |
hilean Central Bank loans [Member] | Between 3 and 6 years [Member] | Interbank borrowing [Member] | ||
Debt instruments at FVOCI | ||
Total | 3,865,000 | |
Cross currency swaps [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 4,209,130 | 7,793,599 |
Cross currency swaps [Member] | Within 1 year [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 96,261 | 637,692 |
Cross currency swaps [Member] | Between 1 and 3 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 835,484 | 1,602,401 |
Cross currency swaps [Member] | Between 3 and 6 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 2,056,864 | 2,229,407 |
Cross currency swaps [Member] | Over 6 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 1,220,521 | 3,324,099 |
Interest rate swaps [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 4,974,800 | 1,896,386 |
Interest rate swaps [Member] | Within 1 year [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 60,687 | 699,248 |
Interest rate swaps [Member] | Between 1 and 3 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 35,687 | 360,000 |
Interest rate swaps [Member] | Between 3 and 6 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | 4,486,492 | 405,079 |
Interest rate swaps [Member] | Over 6 years [Member] | Hedging instrument [Member] | ||
Debt instruments at FVOCI | ||
Total | $ 391,934 | 432,059 |
Chilean Treasury bonds [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 289,369 | |
Chilean Treasury bonds [Member] | Between 1 and 3 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 289,369 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | 254,685 | |
Chilean Central Bank bonds [Member] | Between 1 and 3 years [Member] | Debt instruments at FVOCI [Member] | ||
Debt instruments at FVOCI | ||
Total | $ 254,685 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of notional amount of the hedged - cash flow Hedges [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Loans and accounts receivable at amortized cost | ||
Notional amount | $ 13,926,410 | $ 16,939,379 |
Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 10,700,222 | 15,053,362 |
Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,226,188 | 1,886,017 |
Due Within 1 Year [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 4,205,129 | |
Between 1 and 3 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,918,149 | |
Between 3 and 6 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,497,630 | |
Over 6 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 4,432,454 | |
Hedged item [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 13,926,410 | |
Hedged item [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,547,337 | |
Hedged item [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,342,835 | |
Hedged item [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 4,339,765 | |
Hedged item [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,696,473 | |
Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 1,886,017 | |
Currency forwards [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 1,117,761 | |
Currency forwards [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 768,256 | |
Currency forwards [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Currency forwards [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Mortgage loans [Member] | Loans and accounts receivable at amortised cost [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 9,293,791 | 9,972,447 |
Mortgage loans [Member] | Loans and accounts receivable at amortised cost [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 1,926,918 | 3,334,734 |
Mortgage loans [Member] | Loans and accounts receivable at amortised cost [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,520,951 | 1,505,595 |
Mortgage loans [Member] | Loans and accounts receivable at amortised cost [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,761,742 | 1,995,156 |
Mortgage loans [Member] | Loans and accounts receivable at amortised cost [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,084,180 | 3,136,962 |
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 42,532 | |
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 42,532 | |
Chilean sovereign bonds [Member] | Debt instruments at FVOCI [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 1,264,094 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 175,875 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 891,791 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 196,428 | |
Senior bonds (variable rate) [Member] | Issued debt instruments [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 167,430 | 699,401 |
Senior bonds (variable rate) [Member] | Issued debt instruments [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 167,430 | 358,118 |
Senior bonds (variable rate) [Member] | Issued debt instruments [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 341,283 | |
Senior bonds (variable rate) [Member] | Issued debt instruments [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Senior bonds (variable rate) [Member] | Issued debt instruments [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Senior bonds (fixed rate) [Member] | Issued debt instruments [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,795,203 | 4,722,163 |
Senior bonds (fixed rate) [Member] | Issued debt instruments [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 1,125,253 | 803,596 |
Senior bonds (fixed rate) [Member] | Issued debt instruments [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 610,385 | 1,696,595 |
Senior bonds (fixed rate) [Member] | Issued debt instruments [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 643,700 | 1,152,461 |
Senior bonds (fixed rate) [Member] | Issued debt instruments [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 415,865 | 1,069,511 |
Interbank loans [Member] | Interbank borrowings [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 363,360 | 969,374 |
Interbank loans [Member] | Interbank borrowings [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 327,736 | 826,442 |
Interbank loans [Member] | Interbank borrowings [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 35,624 | 142,932 |
Interbank loans [Member] | Interbank borrowings [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Interbank loans [Member] | Interbank borrowings [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Commercial loans [Member] | Loans and accounts receivable at amortised cost [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Commercial loans [Member] | Loans and accounts receivable at amortised cost [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Commercial loans [Member] | Loans and accounts receivable at amortised cost [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 82,727 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 82,727 | |
Chilean Central Bank bonds [Member] | Debt instruments at FVOCI [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Debt instruments at FVOCI [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 493,267 | |
Time deposits [Member] | Debt instruments at FVOCI [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Debt instruments at FVOCI [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Debt instruments at FVOCI [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 267,286 | |
Time deposits [Member] | Debt instruments at FVOCI [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 225,981 | |
Time deposits [Member] | Time deposits and other time liabilities [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Time deposits and other time liabilities [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Time deposits and other time liabilities [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Time deposits and other time liabilities [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Time deposits [Member] | Time deposits and other time liabilities [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Hedging instrument [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 13,926,410 | 16,939,379 |
Hedging instrument [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 10,700,222 | |
Hedging instrument [Member] | Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,226,188 | |
Hedging instrument [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,547,337 | 5,322,890 |
Hedging instrument [Member] | Due Within 1 Year [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 922,731 | |
Hedging instrument [Member] | Due Within 1 Year [Member] | Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,624,606 | |
Hedging instrument [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,342,835 | 3,686,405 |
Hedging instrument [Member] | Between 1 and 3 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,741,253 | |
Hedging instrument [Member] | Between 1 and 3 years [Member] | Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 601,582 | |
Hedging instrument [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 4,339,765 | 3,497,630 |
Hedging instrument [Member] | Between 3 and 6 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 4,339,765 | |
Hedging instrument [Member] | Between 3 and 6 years [Member] | Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Hedging instrument [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,696,473 | 4,432,454 |
Hedging instrument [Member] | Over 6 years [Member] | Cross currency swaps [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 2,696,473 | |
Hedging instrument [Member] | Over 6 years [Member] | Currency forwards [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | ||
Hedged item [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 16,939,379 | |
Hedged item [Member] | Due Within 1 Year [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 5,322,890 | |
Hedged item [Member] | Between 1 and 3 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,686,405 | |
Hedged item [Member] | Between 3 and 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | 3,497,630 | |
Hedged item [Member] | Over 6 years [Member] | ||
Loans and accounts receivable at amortized cost | ||
Notional amount | $ 4,432,454 |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for interest rate risk - Inflation rate risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Hedged item Inflows [Member] | |||
Hedged item | |||
Forecasted cash flows | $ 23,015 | $ 35,765 | |
Hedged item Inflows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | 18,219 | 25,328 | |
Hedged item Inflows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 2,284 | 10,220 | |
Hedged item Inflows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 2,512 | 217 | |
Hedged item Outflows [Member] | |||
Hedged item | |||
Forecasted cash flows | (401,502) | (920,003) | |
Hedged item Outflows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | (90,303) | (356,683) | |
Hedged item Outflows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (123,604) | (245,480) | |
Hedged item Outflows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (104,198) | (154,689) | |
Hedged item Outflows [Member] | Over 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (83,397) | (163,151) | |
Hedged item Net flows [Member] | |||
Hedged item | |||
Forecasted cash flows | (378,487) | (884,238) | |
Hedged item Net flows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | (72,084) | (331,355) | |
Hedged item Net flows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (121,320) | (235,260) | |
Hedged item Net flows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (101,686) | (154,472) | |
Hedged item Net flows [Member] | Over 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | (83,397) | (163,151) | |
Hedging instrument Inflows [Member] | |||
Hedged item | |||
Forecasted cash flows | 401,502 | 920,003 | |
Hedging instrument Inflows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | 90,303 | 356,683 | |
Hedging instrument Inflows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 123,604 | 245,480 | |
Hedging instrument Inflows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 104,198 | 154,689 | |
Hedging instrument Inflows [Member] | Over 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 83,397 | 163,151 | |
Hedging instrument Outflows [Member] | |||
Hedged item | |||
Forecasted cash flows | [1] | (23,015) | (35,765) |
Hedging instrument Outflows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | [1] | (18,219) | (25,328) |
Hedging instrument Outflows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | [1] | (2,284) | (10,220) |
Hedging instrument Outflows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | [1] | (2,512) | (217) |
Hedging instrument Outflows [Member] | Over 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | [1] | ||
Hedging instrument Net flows [Member] | |||
Hedged item | |||
Forecasted cash flows | 378,487 | 884,238 | |
Hedging instrument Net flows [Member] | Within 1 year [Member] | |||
Hedged item | |||
Forecasted cash flows | 72,084 | 331,355 | |
Hedging instrument Net flows [Member] | Between 1 and 3 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 121,320 | 235,260 | |
Hedging instrument Net flows [Member] | Between 3 and 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | 101,686 | 154,472 | |
Hedging instrument Net flows [Member] | Over 6 years [Member] | |||
Hedged item | |||
Forecasted cash flows | $ 83,397 | $ 163,151 | |
[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) - Schedule of forecasted cash flows for inflation risk - Interest rate risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Hedged item Inflows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | $ 1,235,977 | $ 823,394 |
Hedged item Inflows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 114,734 | 74,574 |
Hedged item Inflows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 257,698 | 109,486 |
Hedged item Inflows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 457,046 | 216,972 |
Hedged item Inflows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 406,499 | 422,362 |
Hedged item Outflows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (134,321) | (155,637) |
Hedged item Outflows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (32,238) | (19,466) |
Hedged item Outflows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (19,702) | (50,151) |
Hedged item Outflows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (55,388) | (33,140) |
Hedged item Outflows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (26,993) | (52,880) |
Hedged item Net flows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 1,101,656 | 667,757 |
Hedged item Net flows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 82,496 | 55,108 |
Hedged item Net flows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 237,996 | 59,335 |
Hedged item Net flows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 401,658 | 183,832 |
Hedged item Net flows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 379,506 | 369,482 |
Hedging instrument Inflows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 134,321 | 155,637 |
Hedging instrument Inflows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 32,238 | 19,466 |
Hedging instrument Inflows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 19,702 | 50,151 |
Hedging instrument Inflows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 55,388 | 33,140 |
Hedging instrument Inflows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | 26,993 | 52,880 |
Hedging instrument Outflows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (1,235,977) | (823,394) |
Hedging instrument Outflows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (114,734) | (74,574) |
Hedging instrument Outflows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (257,698) | (109,486) |
Hedging instrument Outflows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (457,046) | (216,972) |
Hedging instrument Outflows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (406,499) | (422,362) |
Hedging instrument Net flows [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (1,101,656) | (667,757) |
Hedging instrument Net flows [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (82,496) | (55,108) |
Hedging instrument Net flows [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (237,996) | (59,335) |
Hedging instrument Net flows [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | (401,658) | (183,832) |
Hedging instrument Net flows [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of forecasted cash flows for inflation risk [Line Items] | ||
Forecasted cash flows | $ (379,506) | $ (369,482) |
Derivative Financial Instrume_9
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments - Cash Flow Hedge [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments [Line Items] | ||
Cash flow hedge net gains (losses) | $ (136,765) | $ (40,435) |
Interbank loans [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments [Line Items] | ||
Cash flow hedge net gains (losses) | (962) | (1,872) |
Issued debt instruments [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments [Line Items] | ||
Cash flow hedge net gains (losses) | (6,990) | (16,345) |
Debt instruments at FVOCI [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments [Line Items] | ||
Cash flow hedge net gains (losses) | (25,833) | (2,905) |
Loans And Accounts Receivable At Amortized Cost [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of market adjustment of cash flow hedges produced by hedge instruments [Line Items] | ||
Cash flow hedge net gains (losses) | $ (102,980) | $ (19,313) |
Derivative Financial Instrum_10
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income - Cash Flow Hedge [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income [Line Items] | |||
Cash flow hedge net gains (losses) | $ (3,148) | $ (1,075) | $ (683) |
Bond hedging derivatives [Member] | |||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income [Line Items] | |||
Cash flow hedge net gains (losses) | (3,149) | (120) | |
Interbank loans hedging derivatives [Member] | |||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income [Line Items] | |||
Cash flow hedge net gains (losses) | $ 1 | $ (955) | $ (683) |
Derivative Financial Instrum_11
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Loans And Accounts Receivable At Amortized Cost [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | $ 2,894,957 | $ 7,484,451 |
Loans And Accounts Receivable At Amortized Cost [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,223,126 | 633,300 |
Loans And Accounts Receivable At Amortized Cost [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 936,352 | 1,789,037 |
Loans And Accounts Receivable At Amortized Cost [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 735,479 | 3,466,875 |
Loans And Accounts Receivable At Amortized Cost [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,595,239 | |
Loans And Accounts Receivable At Amortized Cost [Member] | Mortgage loans [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 2,344,957 | 6,834,451 |
Loans And Accounts Receivable At Amortized Cost [Member] | Mortgage loans [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 823,126 | 633,300 |
Loans And Accounts Receivable At Amortized Cost [Member] | Mortgage loans [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 786,352 | 1,189,037 |
Loans And Accounts Receivable At Amortized Cost [Member] | Mortgage loans [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 735,479 | 3,466,875 |
Loans And Accounts Receivable At Amortized Cost [Member] | Mortgage loans [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,545,239 | |
Loans And Accounts Receivable At Amortized Cost [Member] | Commercial loans [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 550,000 | 650,000 |
Loans And Accounts Receivable At Amortized Cost [Member] | Commercial loans [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 400,000 | |
Loans And Accounts Receivable At Amortized Cost [Member] | Commercial loans [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 150,000 | 600,000 |
Loans And Accounts Receivable At Amortized Cost [Member] | Commercial loans [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 50,000 | |
Hedging instrument [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 2,894,957 | 7,484,451 |
Hedging instrument [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,223,126 | 633,300 |
Hedging instrument [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 936,352 | 1,789,037 |
Hedging instrument [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 735,479 | 3,466,875 |
Hedging instrument [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,595,239 | |
Hedging instrument [Member] | Cross currency swaps [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 2,344,957 | 6,834,451 |
Hedging instrument [Member] | Cross currency swaps [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 823,126 | 633,300 |
Hedging instrument [Member] | Cross currency swaps [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 786,352 | 1,189,037 |
Hedging instrument [Member] | Cross currency swaps [Member] | Over 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 735,479 | 3,466,875 |
Hedging instrument [Member] | Cross currency swaps [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 1,545,239 | |
Hedging instrument [Member] | Interest rate swaps [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 550,000 | 650,000 |
Hedging instrument [Member] | Interest rate swaps [Member] | Within 1 year [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | 400,000 | |
Hedging instrument [Member] | Interest rate swaps [Member] | Between 1 and 3 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | $ 150,000 | 600,000 |
Hedging instrument [Member] | Interest rate swaps [Member] | Between 3 and 6 years [Member] | ||
Derivative Financial Instruments and Hedge Accounting (Details) - Schedule of macro-hedges [Line Items] | ||
Macro-hedges | $ 50,000 |
Loans and Accounts Receivable_5
Loans and Accounts Receivable at Amortized Cost (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | |
Disclosure of loans and advances to customers [text block] [Abstract] | |||
Overlays related to macroeconomically scenarios | $ 59,000 | ||
Increase of provision for loan losses | $ 2,066 | $ 6,998 |
Loans and Accounts Receivable_6
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of loan portfolio composition - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Commercial loans | |||||||
Assets before allowances | $ 34,339,893,000 | $ 32,671,515,000 | |||||
ECL allowance | [1] | 1,036,793,000 | 896,095,000 | ||||
Net Assets | 33,303,100,000 | 31,775,420,000 | |||||
Stage 1 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 30,216,324,000 | 29,041,636,000 | |||||
ECL allowance | [1] | 194,422,000 | 133,269,000 | ||||
Stage 2 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 2,447,273,000 | 1,995,733,000 | |||||
ECL allowance | [1] | 149,940,000 | 121,261,000 | ||||
Stage 3 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,676,296,000 | 1,634,146,000 | |||||
ECL allowance | [1] | 692,431,000 | 641,565,000 | ||||
Commercial Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 16,987,189,000 | 15,862,325,000 | $ 15,217,460,000 | [2] | |||
ECL allowance | 645,072,000 | [1] | 506,569,000 | [1] | 508,190,000 | [2] | |
Net Assets | 16,342,117,000 | 15,355,756,000 | |||||
Commercial Loans [Member] | Interbank Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 18,930,000 | 14,852,000 | |||||
ECL allowance | [1] | 1,000 | 1,000 | ||||
Net Assets | 18,929,000 | 14,851,000 | |||||
Commercial Loans [Member] | Commercial Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 13,490,618,000 | 11,708,187,000 | |||||
ECL allowance | [1] | 498,146,000 | 384,124,000 | ||||
Net Assets | 12,992,472,000 | 11,324,063,000 | |||||
Commercial Loans [Member] | Foreign Trade Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,239,271,000 | 1,713,633,000 | |||||
ECL allowance | [1] | 41,261,000 | 28,387,000 | ||||
Net Assets | 1,198,010,000 | 1,685,246,000 | |||||
Commercial Loans [Member] | Checking Accounts Debtors [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 125,610,000 | 196,893,000 | |||||
ECL allowance | [1] | 11,602,000 | 11,900,000 | ||||
Net Assets | 114,008,000 | 184,993,000 | |||||
Commercial Loans [Member] | Factoring Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 497,679,000 | 489,400,000 | |||||
ECL allowance | [1] | 4,129,000 | 3,296,000 | ||||
Net Assets | 493,550,000 | 486,104,000 | |||||
Commercial Loans [Member] | Student Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 63,380,000 | 71,273,000 | |||||
ECL allowance | [1] | 8,798,000 | 9,319,000 | ||||
Net Assets | 54,582,000 | 61,954,000 | |||||
Commercial Loans [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,424,862,000 | ||||||
ECL allowance | [1] | 59,687,000 | 44,645,000 | ||||
Net Assets | 1,295,470,000 | 1,380,217,000 | |||||
Commercial Loans [Member] | Other Loans And Account Receivable [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 196,544 | 243,225,000 | |||||
ECL allowance | [1] | 21,448,000 | 24,897,000 | ||||
Net Assets | 175,096,000 | 218,328,000 | |||||
Commercial Loans [Member] | Stage 1 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 13,802,623,000 | ||||||
ECL allowance | [1] | 80,532,000 | 57,427,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Interbank Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 18,930,000 | 14,852,000 | |||||
ECL allowance | [1] | 1,000 | 1,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Commercial Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 11,453,377,000 | 10,179,002,000 | |||||
ECL allowance | [1] | 60,987,000 | 41,296,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Foreign Trade Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 979,014,000 | 1,519,757,000 | |||||
ECL allowance | [1] | 5,323,000 | 4,113,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Checking Accounts Debtors [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 92,789,000 | 166,771,000 | |||||
ECL allowance | [1] | 1,253,000 | 1,492,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Factoring Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 486,587,000 | 478,465,000 | |||||
ECL allowance | [1] | 1,397,000 | 1,158,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Student Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 49,768,000 | 57,206,000 | |||||
ECL allowance | [1] | 1,551,000 | 1,774,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,184,765,000 | ||||||
ECL allowance | [1] | 7,377,000 | 5,415,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Other Loans And Account Receivable [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 163,035 | 201,805,000 | |||||
ECL allowance | [1] | 2,643,000 | 2,178,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,245,067,000 | ||||||
ECL allowance | [1] | 109,767,000 | 55,944,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Interbank Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | |||||||
ECL allowance | [1] | ||||||
Commercial Loans [Member] | Stage 2 [Member] | Commercial Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,285,770,000 | 870,028,000 | |||||
ECL allowance | [1] | 87,295,000 | 41,734,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Foreign Trade Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 221,074,000 | 155,324,000 | |||||
ECL allowance | [1] | 2,786,000 | 705,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Checking Accounts Debtors [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 21,315,000 | 16,108,000 | |||||
ECL allowance | [1] | 1,524,000 | 764,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Factoring Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 7,207,000 | 7,946,000 | |||||
ECL allowance | [1] | 387,000 | 234,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Student Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 4,905,000 | 5,942,000 | |||||
ECL allowance | [1] | 714,000 | 1,950,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 267,062 | 178,556,000 | |||||
ECL allowance | [1] | 14,934,000 | 8,270,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Other Loans And Account Receivable [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 10,973 | 11,163,000 | |||||
ECL allowance | [1] | 2,127,000 | 2,287,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 910,085 | 814,635,000 | |||||
ECL allowance | [1] | 454,773,000 | 393,198,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Interbank Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | |||||||
ECL allowance | [1] | ||||||
Commercial Loans [Member] | Stage 3 [Member] | Commercial Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 751,471,000 | 659,157,000 | |||||
ECL allowance | [1] | 349,864,000 | 301,094,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Foreign Trade Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 39,183,000 | 38,552,000 | |||||
ECL allowance | [1] | 33,152,000 | 23,569,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Checking Accounts Debtors [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 11,506,000 | 14,014,000 | |||||
ECL allowance | [1] | 8,825,000 | 9,644,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Factoring Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 3,885,000 | 2,989,000 | |||||
ECL allowance | [1] | 2,345,000 | 1,904,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Student Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 8,707,000 | 8,125,000 | |||||
ECL allowance | [1] | 6,533,000 | 5,595,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 72,797 | 61,541,000 | |||||
ECL allowance | [1] | 37,376,000 | 30,960,000 | ||||
Commercial Loans [Member] | Stage 3 [Member] | Other Loans And Account Receivable [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 22,536 | 30,257,000 | |||||
ECL allowance | [1] | 16,678,000 | 20,432,000 | ||||
Mortgage loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 12,411,825,000 | 11,262,995,000 | 10,150,981,000 | ||||
ECL allowance | 112,522,000 | [1] | 101,059,000 | [1] | $ 91,270,000 | ||
Net Assets | 12,299,303,000 | 11,161,936,000 | |||||
Mortgage loans [Member] | Loans With Mortgage Finance Bonds [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 7,809,000 | 12,298,000 | |||||
ECL allowance | [1] | 84,000 | 137,000 | ||||
Net Assets | 7,725,000 | 12,161,000 | |||||
Mortgage loans [Member] | Endorsable Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 92,960,000 | 100,152,000 | |||||
ECL allowance | [1] | 758,000 | 816,000 | ||||
Net Assets | 92,202,000 | 99,336,000 | |||||
Mortgage loans [Member] | Other Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 12,311,056,000 | 11,150,545,000 | |||||
ECL allowance | [1] | 111,680,000 | 100,106,000 | ||||
Net Assets | 12,199,376,000 | 11,050,439,000 | |||||
Mortgage loans [Member] | Stage 1 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 11,518,363,000 | 10,275,966,000 | |||||
ECL allowance | [1] | 25,065,000 | 8,446,000 | ||||
Mortgage loans [Member] | Stage 1 [Member] | Loans With Mortgage Finance Bonds [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 6,859,000 | 10,774,000 | |||||
ECL allowance | [1] | 16,000 | 13,000 | ||||
Mortgage loans [Member] | Stage 1 [Member] | Endorsable Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 86,786,000 | 92,792,000 | |||||
ECL allowance | [1] | 221,000 | 72,000 | ||||
Mortgage loans [Member] | Stage 1 [Member] | Other Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 11,424,718,000 | 10,172,400,000 | |||||
ECL allowance | [1] | 24,828,000 | 8,361,000 | ||||
Mortgage loans [Member] | Stage 2 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 392,372,000 | 457,948,000 | |||||
ECL allowance | [1] | 8,441,000 | 14,509,000 | ||||
Mortgage loans [Member] | Stage 2 [Member] | Loans With Mortgage Finance Bonds [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 546,000 | 744,000 | |||||
ECL allowance | [1] | 11,000 | 21,000 | ||||
Mortgage loans [Member] | Stage 2 [Member] | Endorsable Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 2,463,000 | 2,819,000 | |||||
ECL allowance | [1] | 63,000 | 103,000 | ||||
Mortgage loans [Member] | Stage 2 [Member] | Other Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 389,363,000 | 454,385,000 | |||||
ECL allowance | [1] | 8,367,000 | 14,385,000 | ||||
Mortgage loans [Member] | Stage 3 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 501,090,000 | 529,081,000 | |||||
ECL allowance | [1] | 79,016,000 | 78,104,000 | ||||
Mortgage loans [Member] | Stage 3 [Member] | Loans With Mortgage Finance Bonds [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 404,000 | 780,000 | |||||
ECL allowance | [1] | 57,000 | 103,000 | ||||
Mortgage loans [Member] | Stage 3 [Member] | Endorsable Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 3,711,000 | 4,541,000 | |||||
ECL allowance | [1] | 474,000 | 641,000 | ||||
Mortgage loans [Member] | Stage 3 [Member] | Other Mortgage Mutual Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 496,975,000 | 523,760,000 | |||||
ECL allowance | [1] | 78,485,000 | 77,360,000 | ||||
Consumer loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 4,940,879,000 | 5,546,195,000 | |||||
ECL allowance | [1] | 279,199,000 | 288,467,000 | ||||
Net Assets | 4,661,680,000 | 5,257,728,000 | |||||
Consumer loans [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 3,121,000 | 3,952,000 | |||||
ECL allowance | [1] | 67,000 | 122,000 | ||||
Net Assets | 3,054,000 | 3,830,000 | |||||
Consumer loans [Member] | Installment Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 3,688,592,000 | 3,917,536,000 | |||||
ECL allowance | [1] | 255,516,000 | 255,061,000 | ||||
Net Assets | 3,433,076,000 | 3,662,475,000 | |||||
Consumer loans [Member] | Credit Card Balances [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,125,908,000 | 1,377,710,000 | |||||
ECL allowance | [1] | 19,959,000 | 27,337,000 | ||||
Net Assets | 1,105,949,000 | 1,350,373,000 | |||||
Consumer loans [Member] | Other Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 123,258,000 | 246,997,000 | |||||
ECL allowance | [1] | 3,657,000 | 5,947,000 | ||||
Net Assets | 119,601,000 | 241,050,000 | |||||
Consumer loans [Member] | Stage 1 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 4,439,163,000 | 4,963,047,000 | |||||
ECL allowance | [1] | 88,825,000 | 67,396,000 | ||||
Consumer loans [Member] | Stage 1 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 2,956,000 | 3,569,000 | |||||
ECL allowance | [1] | 29,000 | 56,000 | ||||
Consumer loans [Member] | Stage 1 [Member] | Installment Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 3,221,617,000 | 3,378,489,000 | |||||
ECL allowance | [1] | 76,140,000 | 51,289,000 | ||||
Consumer loans [Member] | Stage 1 [Member] | Credit Card Balances [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,097,680,000 | 1,341,734,000 | |||||
ECL allowance | [1] | 10,781,000 | 12,507,000 | ||||
Consumer loans [Member] | Stage 1 [Member] | Other Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 116,910,000 | 239,255,000 | |||||
ECL allowance | [1] | 1,875,000 | 3,544,000 | ||||
Consumer loans [Member] | Stage 2 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 236,595,000 | 292,718,000 | |||||
ECL allowance | [1] | 31,732,000 | 50,808,000 | ||||
Consumer loans [Member] | Stage 2 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 139,000 | 303,000 | |||||
ECL allowance | [1] | 22,000 | 30,000 | ||||
Consumer loans [Member] | Stage 2 [Member] | Installment Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 211,348,000 | 270,347,000 | |||||
ECL allowance | [1] | 26,737,000 | 45,102,000 | ||||
Consumer loans [Member] | Stage 2 [Member] | Credit Card Balances [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 20,380,000 | 17,668,000 | |||||
ECL allowance | [1] | 4,141,000 | 4,894,000 | ||||
Consumer loans [Member] | Stage 2 [Member] | Other Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 4,728,000 | 4,400,000 | |||||
ECL allowance | [1] | 832,000 | 782,000 | ||||
Consumer loans [Member] | Stage 3 [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 265,121,000 | 290,430,000 | |||||
ECL allowance | [1] | 158,642,000 | 170,263,000 | ||||
Consumer loans [Member] | Stage 3 [Member] | Leasing Transactions [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 26,000 | 80,000 | |||||
ECL allowance | [1] | 16,000 | 36,000 | ||||
Consumer loans [Member] | Stage 3 [Member] | Installment Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 255,627,000 | 268,700,000 | |||||
ECL allowance | [1] | 152,639,000 | 158,670,000 | ||||
Consumer loans [Member] | Stage 3 [Member] | Credit Card Balances [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 7,848,000 | 18,308,000 | |||||
ECL allowance | [1] | 5,037,000 | 9,936,000 | ||||
Consumer loans [Member] | Stage 3 [Member] | Other Consumer Loans [Member] | |||||||
Commercial loans | |||||||
Assets before allowances | 1,620,000 | 3,342,000 | |||||
ECL allowance | [1] | $ 950,000 | $ 1,621,000 | ||||
[1] | Include overlays for an amount of MCh$59,000. See Note 37. | ||||||
[2] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. |
Loans and Accounts Receivable_7
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss - Commercial Loans [Member] - CLP ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | $ 15,862,325,000 | $ 15,217,460,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | |||||
Transfers from stage 1 to stage 3 | |||||
Transfers from stage 2 to stage 3 | |||||
Transfers from stage 2 to stage 1 | |||||
Transfers from stage 3 to stage 2 | |||||
Transfers from stage 3 to stage 1 | |||||
Net changes of financial assets | 1,285,080,000 | 712,258,000 | |||
Write-off | (168,537,000) | (177,849,000) | |||
FX and other adjustments | 8,321,000 | 110,456,000 | |||
Gross carrying amount, Ending balance | 16,987,189,000 | 15,862,325,000 | |||
Expected credit losses allowances, Beginning balance | 506,569,000 | [2] | 508,190,000 | [1] | |
Transfers | |||||
Transfers to stage 2 | 58,928,000 | 58,098,000 | |||
Transfers to stage 3 | 20,225,000 | 13,421,000 | |||
Transfers to stage 3 | 74,776,000 | 64,235,000 | |||
Transfers to stage 1 | (22,087,000) | (23,389,000) | |||
Transfers to stage 2 | (19,188,000) | (20,997,000) | |||
Transfers to stage 1 | (40,000) | (154,000) | |||
Net changes of the exposure and modifications in credit risk | 193,594,000 | 87,894,000 | |||
Write-off | (167,382,000) | (177,858,000) | |||
FX and other adjustments | (323,000) | (2,871,000) | |||
Expected credit losses allowances, Ending balance | [2] | 645,072,000 | 506,569,000 | ||
Stage 1 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 13,802,623,000 | ||||
Transfers: | |||||
Gross carrying amount, Ending balance | 13,802,623,000 | ||||
Expected credit losses allowances, Beginning balance | [2] | 57,427,000 | |||
Transfers | |||||
Expected credit losses allowances, Ending balance | [2] | 80,532,000 | 57,427,000 | ||
Stage 2 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 1,245,067,000 | ||||
Transfers: | |||||
Gross carrying amount, Ending balance | 1,245,067,000 | ||||
Expected credit losses allowances, Beginning balance | [2] | 55,944,000 | |||
Transfers | |||||
Expected credit losses allowances, Ending balance | [2] | 109,767,000 | 55,944,000 | ||
Stage 3 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 814,635,000 | ||||
Transfers: | |||||
Gross carrying amount, Ending balance | 910,085 | 814,635,000 | |||
Expected credit losses allowances, Beginning balance | [2] | 393,198,000 | |||
Transfers | |||||
Expected credit losses allowances, Ending balance | [2] | 454,773,000 | 393,198,000 | ||
Individual [Member] | Stage 1 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 10,208,264,000 | 9,695,837,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | (1,355,492,000) | (518,990,000) | |||
Transfers from stage 1 to stage 3 | (2,492,000) | ||||
Transfers from stage 2 to stage 3 | |||||
Transfers from stage 2 to stage 1 | 239,349,000 | 158,935,000 | |||
Transfers from stage 3 to stage 2 | |||||
Transfers from stage 3 to stage 1 | |||||
Net changes of financial assets | 676,413,000 | 542,311,000 | |||
Write-off | |||||
FX and other adjustments | (1,243,000) | 330,171,000 | |||
Gross carrying amount, Ending balance | 9,764,799,000 | 10,208,264,000 | |||
Expected credit losses allowances, Beginning balance | 21,539,000 | 30,189,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | (23,652,000) | (7,786,000) | |||
Transfers to stage 3 | (9,000) | ||||
Transfers to stage 3 | |||||
Transfers to stage 1 | 2,919,000 | 1,576,000 | |||
Transfers to stage 2 | |||||
Transfers to stage 1 | |||||
Net changes of the exposure and modifications in credit risk | 39,971,000 | (6,948,000) | |||
Write-off | |||||
FX and other adjustments | (1,179,000) | 4,508,000 | |||
Expected credit losses allowances, Ending balance | 39,589,000 | 21,539,000 | |||
Individual [Member] | Stage 2 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 1,004,967,000 | 867,783,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | 1,355,492,000 | 518,990,000 | |||
Transfers from stage 1 to stage 3 | |||||
Transfers from stage 2 to stage 3 | (198,124,000) | (132,136,000) | |||
Transfers from stage 2 to stage 1 | (239,349,000) | (158,935,000) | |||
Transfers from stage 3 to stage 2 | 4,022,000 | 11,229,000 | |||
Transfers from stage 3 to stage 1 | |||||
Net changes of financial assets | (337,291,000) | (119,884,000) | |||
Write-off | |||||
FX and other adjustments | (2,000) | 17,920,000 | |||
Gross carrying amount, Ending balance | 1,589,715,000 | 1,004,967,000 | |||
Expected credit losses allowances, Beginning balance | 30,389,000 | 31,066,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | 50,253,000 | 17,237,000 | |||
Transfers to stage 3 | |||||
Transfers to stage 3 | (25,214,000) | (8,567,000) | |||
Transfers to stage 1 | (9,322,000) | (7,525,000) | |||
Transfers to stage 2 | 943,000 | 685,000 | |||
Transfers to stage 1 | |||||
Net changes of the exposure and modifications in credit risk | 18,462,000 | (3,151,000) | |||
Write-off | |||||
FX and other adjustments | (59,000) | 644,000 | |||
Expected credit losses allowances, Ending balance | 65,452,000 | 30,389,000 | |||
Individual [Member] | Stage 3 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 401,007,000 | 386,929,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | |||||
Transfers from stage 1 to stage 3 | 2,492,000 | ||||
Transfers from stage 2 to stage 3 | 198,124,000 | 132,136,000 | |||
Transfers from stage 2 to stage 1 | |||||
Transfers from stage 3 to stage 2 | (4,022,000) | (11,229,000) | |||
Transfers from stage 3 to stage 1 | |||||
Net changes of financial assets | (537,000) | (24,788,000) | |||
Write-off | (66,989,000) | (83,845,000) | |||
FX and other adjustments | (9,000) | 1,804,000 | |||
Gross carrying amount, Ending balance | 530,066,000 | 401,007,000 | |||
Expected credit losses allowances, Beginning balance | 196,165,000 | 198,115,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | |||||
Transfers to stage 3 | 1,089,000 | ||||
Transfers to stage 3 | 73,885,000 | 44,203,000 | |||
Transfers to stage 1 | |||||
Transfers to stage 2 | (1,560,000) | (3,867,000) | |||
Transfers to stage 1 | |||||
Net changes of the exposure and modifications in credit risk | 58,915,000 | 41,365,000 | |||
Write-off | (66,989,000) | (83,844,000) | |||
FX and other adjustments | 193,000 | ||||
Expected credit losses allowances, Ending balance | 261,505,000 | 196,165,000 | |||
Collective [Member] | Stage 1 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 3,594,359,000 | 3,644,407,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | (277,926,000) | (347,678,000) | |||
Transfers from stage 1 to stage 3 | (52,304,000) | (41,696,000) | |||
Transfers from stage 2 to stage 3 | |||||
Transfers from stage 2 to stage 1 | 162,768,000 | 159,009,000 | |||
Transfers from stage 3 to stage 2 | |||||
Transfers from stage 3 to stage 1 | 138,000 | 1,134,000 | |||
Net changes of financial assets | 1,056,882,000 | 415,524,000 | |||
Write-off | |||||
FX and other adjustments | 10,082,000 | (236,341,000) | |||
Gross carrying amount, Ending balance | 4,493,999,000 | 3,594,359,000 | |||
Expected credit losses allowances, Beginning balance | 35,888,000 | 44,104,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | (16,137,000) | (20,058,000) | |||
Transfers to stage 3 | (3,007,000) | (2,666,000) | |||
Transfers to stage 3 | |||||
Transfers to stage 1 | 4,921,000 | 4,838,000 | |||
Transfers to stage 2 | |||||
Transfers to stage 1 | 5,000 | 88,000 | |||
Net changes of the exposure and modifications in credit risk | 19,264,000 | 14,199,000 | |||
Write-off | |||||
FX and other adjustments | 9,000 | (4,617,000) | |||
Expected credit losses allowances, Ending balance | 40,943,000 | 35,888,000 | |||
Collective [Member] | Stage 2 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 240,100,000 | 235,239,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | 277,926,000 | 347,678,000 | |||
Transfers from stage 1 to stage 3 | |||||
Transfers from stage 2 to stage 3 | (163,049,000) | (230,125,000) | |||
Transfers from stage 2 to stage 1 | (162,768,000) | (159,009,000) | |||
Transfers from stage 3 to stage 2 | 117,446,000 | 120,293,000 | |||
Transfers from stage 3 to stage 1 | |||||
Net changes of financial assets | (80,505,000) | (68,960,000) | |||
Write-off | |||||
FX and other adjustments | (559,000) | (5,016,000) | |||
Gross carrying amount, Ending balance | 228,591,000 | 240,100,000 | |||
Expected credit losses allowances, Beginning balance | 25,555,000 | 24,945,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | 48,464,000 | 68,705,000 | |||
Transfers to stage 3 | |||||
Transfers to stage 3 | (29,540,000) | (42,601,000) | |||
Transfers to stage 1 | (20,605,000) | (22,278,000) | |||
Transfers to stage 2 | 4,424,000 | 9,667,000 | |||
Transfers to stage 1 | |||||
Net changes of the exposure and modifications in credit risk | 15,122,000 | (12,533,000) | |||
Write-off | |||||
FX and other adjustments | 895,000 | (350,000) | |||
Expected credit losses allowances, Ending balance | 44,315,000 | 25,555,000 | |||
Collective [Member] | Stage 3 [Member] | |||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||||
Gross carrying amount, Beginning balance | 413,628,000 | 387,265,000 | [1] | ||
Transfers: | |||||
Transfers from stage 1 to stage 2 | |||||
Transfers from stage 1 to stage 3 | 52,304,000 | 41,696,000 | |||
Transfers from stage 2 to stage 3 | 163,049,000 | 230,125,000 | |||
Transfers from stage 2 to stage 1 | |||||
Transfers from stage 3 to stage 2 | (117,446,000) | (120,293,000) | |||
Transfers from stage 3 to stage 1 | (138,000) | (1,134,000) | |||
Net changes of financial assets | (29,882,000) | (31,945,000) | |||
Write-off | (101,548,000) | (94,004,000) | |||
FX and other adjustments | 52,000 | 1,918,000 | |||
Gross carrying amount, Ending balance | 380,019,000 | 413,628,000 | |||
Expected credit losses allowances, Beginning balance | 197,033,000 | 179,771,000 | [1] | ||
Transfers | |||||
Transfers to stage 2 | |||||
Transfers to stage 3 | 22,152,000 | 16,087,000 | |||
Transfers to stage 3 | 55,645,000 | 71,200,000 | |||
Transfers to stage 1 | |||||
Transfers to stage 2 | (22,995,000) | (27,482,000) | |||
Transfers to stage 1 | (45,000) | (242,000) | |||
Net changes of the exposure and modifications in credit risk | 41,860,000 | 54,962,000 | |||
Write-off | (100,393,000) | (94,014,000) | |||
FX and other adjustments | 11,000 | (3,249,000) | |||
Expected credit losses allowances, Ending balance | $ 193,268,000 | $ 197,033,000 | |||
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. | ||||
[2] | Include overlays for an amount of MCh$59,000. See Note 37. |
Loans and Accounts Receivable_8
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss - Mortgages [Member] - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | |||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | $ 11,262,995 | $ 10,150,981 | ||
Transfers: | ||||
Transfers from stage 1 to stage 2 | ||||
Transfers from stage 1 to stage 3 | ||||
Transfers from stage 2 to stage 3 | ||||
Transfers from stage 2 to stage 1 | ||||
Transfers from stage 3 to stage 2 | ||||
Transfers from stage 3 to stage 1 | ||||
Net changes of financial assets | 1,174,311 | 1,072,202 | ||
Write-off | (25,831) | (34,184) | ||
FX and other adjustments | 350 | 73,996 | ||
Gross carrying amount, Ending balance | 12,411,825 | 11,262,995 | ||
Expected credit losses allowances, Beginning balance | 101,059 | [1] | 91,270 | |
Transfers | ||||
Transfers from stage 1 to stage 2 | 7,252 | 17,191 | ||
Transfers from stage 1 to stage 3 | 4,076 | 5,683 | ||
Transfers from stage 2 to stage 3 | 11,111 | 19,056 | ||
Transfers from stage 2 to stage 1 | (10,725) | (12,475) | ||
Transfers from stage 3 to stage 2 | (21,113) | (20,962) | ||
Transfers from stage 3 to stage 1 | (35) | (187) | ||
Net changes of the exposure and modifications in credit risk | 46,723 | 31,162 | ||
Write-off | (25,831) | (34,184) | ||
FX and other adjustments | 5 | 4,505 | ||
Expected credit losses allowances, Ending balance | [1] | 112,522 | 101,059 | |
Stage 1 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 10,275,966 | |||
Transfers: | ||||
Gross carrying amount, Ending balance | 11,518,363 | 10,275,966 | ||
Expected credit losses allowances, Beginning balance | [1] | 8,446 | ||
Transfers | ||||
Expected credit losses allowances, Ending balance | [1] | 25,065 | 8,446 | |
Stage 2 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 457,948 | |||
Transfers: | ||||
Gross carrying amount, Ending balance | 392,372 | 457,948 | ||
Expected credit losses allowances, Beginning balance | [1] | 14,509 | ||
Transfers | ||||
Expected credit losses allowances, Ending balance | [1] | 8,441 | 14,509 | |
Stage 3 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 529,081 | |||
Transfers: | ||||
Gross carrying amount, Ending balance | 501,090 | 529,081 | ||
Expected credit losses allowances, Beginning balance | [1] | 78,104 | ||
Transfers | ||||
Expected credit losses allowances, Ending balance | [1] | 79,016 | 78,104 | |
Collective [Member] | Stage 1 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 10,275,966 | 9,258,962 | ||
Transfers: | ||||
Transfers from stage 1 to stage 2 | (248,167) | (481,646) | ||
Transfers from stage 1 to stage 3 | (53,621) | (60,329) | ||
Transfers from stage 2 to stage 3 | ||||
Transfers from stage 2 to stage 1 | 321,954 | 361,293 | ||
Transfers from stage 3 to stage 2 | ||||
Transfers from stage 3 to stage 1 | 463 | 2,338 | ||
Net changes of financial assets | 1,221,898 | 1,131,941 | ||
Write-off | ||||
FX and other adjustments | (130) | 63,407 | ||
Gross carrying amount, Ending balance | 11,518,363 | 10,275,966 | ||
Expected credit losses allowances, Beginning balance | 8,446 | 9,006 | ||
Transfers | ||||
Transfers from stage 1 to stage 2 | (5,250) | (3,318) | ||
Transfers from stage 1 to stage 3 | (472) | (311) | ||
Transfers from stage 2 to stage 3 | ||||
Transfers from stage 2 to stage 1 | 3,187 | 1,374 | ||
Transfers from stage 3 to stage 2 | ||||
Transfers from stage 3 to stage 1 | 2 | 6 | ||
Net changes of the exposure and modifications in credit risk | 19,162 | 1,655 | ||
Write-off | ||||
FX and other adjustments | (10) | 34 | ||
Expected credit losses allowances, Ending balance | 25,065 | 8,446 | ||
Collective [Member] | Stage 2 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 457,948 | 447,496 | ||
Transfers: | ||||
Transfers from stage 1 to stage 2 | 248,167 | 481,646 | ||
Transfers from stage 1 to stage 3 | ||||
Transfers from stage 2 to stage 3 | (215,547) | (333,706) | ||
Transfers from stage 2 to stage 1 | (321,954) | (361,293) | ||
Transfers from stage 3 to stage 2 | 248,635 | 250,896 | ||
Transfers from stage 3 to stage 1 | ||||
Net changes of financial assets | (25,440) | (35,200) | ||
Write-off | ||||
FX and other adjustments | 563 | 8,109 | ||
Gross carrying amount, Ending balance | 392,372 | 457,948 | ||
Expected credit losses allowances, Beginning balance | 14,509 | 15,102 | ||
Transfers | ||||
Transfers from stage 1 to stage 2 | 12,502 | 20,509 | ||
Transfers from stage 1 to stage 3 | ||||
Transfers from stage 2 to stage 3 | (8,923) | (12,598) | ||
Transfers from stage 2 to stage 1 | (13,912) | (13,849) | ||
Transfers from stage 3 to stage 2 | 7,033 | 8,341 | ||
Transfers from stage 3 to stage 1 | ||||
Net changes of the exposure and modifications in credit risk | (2,791) | (3,054) | ||
Write-off | ||||
FX and other adjustments | 23 | 58 | ||
Expected credit losses allowances, Ending balance | 8,441 | 14,509 | ||
Collective [Member] | Stage 3 [Member] | ||||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | ||||
Gross carrying amount, Beginning balance | 529,081 | 444,523 | ||
Transfers: | ||||
Transfers from stage 1 to stage 2 | ||||
Transfers from stage 1 to stage 3 | 53,621 | 60,329 | ||
Transfers from stage 2 to stage 3 | 215,547 | 333,706 | ||
Transfers from stage 2 to stage 1 | ||||
Transfers from stage 3 to stage 2 | (248,635) | (250,896) | ||
Transfers from stage 3 to stage 1 | (463) | (2,338) | ||
Net changes of financial assets | (22,147) | (24,539) | ||
Write-off | (25,831) | (34,184) | ||
FX and other adjustments | (83) | 2,480 | ||
Gross carrying amount, Ending balance | 501,090 | 529,081 | ||
Expected credit losses allowances, Beginning balance | 78,104 | 67,162 | ||
Transfers | ||||
Transfers from stage 1 to stage 2 | ||||
Transfers from stage 1 to stage 3 | 4,548 | 5,994 | ||
Transfers from stage 2 to stage 3 | 20,034 | 31,654 | ||
Transfers from stage 2 to stage 1 | ||||
Transfers from stage 3 to stage 2 | (28,146) | (29,303) | ||
Transfers from stage 3 to stage 1 | (37) | (193) | ||
Net changes of the exposure and modifications in credit risk | 30,352 | 32,561 | ||
Write-off | (25,831) | (34,184) | ||
FX and other adjustments | (8) | 4,413 | ||
Expected credit losses allowances, Ending balance | $ 79,016 | $ 78,104 | ||
[1] | Include overlays for an amount of MCh$59,000. See Note 37. |
Loans and Accounts Receivable_9
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Collective [Member] | Consumer Loans [Member] | Stage 1 [Member] | |||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||
Gross carrying amount, Beginning balance | $ 4,963,047 | $ 4,727,464 | [1] |
Transfers: | |||
Transfers from stage 1 to stage 2 | (410,942) | (358,403) | |
Transfers from stage 1 to stage 3 | (16,962) | (25,210) | |
Transfers from stage 2 to stage 3 | |||
Transfers from stage 2 to stage 1 | 238,800 | 130,611 | |
Transfers from stage 3 to stage 2 | |||
Transfers from stage 3 to stage 1 | 2,225 | 514 | |
Net changes of financial assets | (337,006) | 430,777 | |
Write-off | |||
FX and other adjustments | 1 | 57,294 | |
Gross carrying amount, Ending balance | 4,439,163 | 4,963,047 | |
Expected credit losses allowances, Beginning balance | 67,396 | 75,495 | [1] |
Transfers: | |||
Transfers to stage 2 | (36,422) | (28,717) | |
Transfers to stage 3 | (1,484) | (1,633) | |
Transfers to stage 3 | |||
Transfers to stage 1 | 13,589 | 7,941 | |
Transfers to stage 2 | |||
Transfers to stage 1 | 254 | 47 | |
Net changes of the exposure and modifications in the credit risk | 45,492 | 15,641 | |
Write-off | |||
FX and other adjustments | (1,378) | ||
Expected credit losses allowances, Ending balance | 88,825 | 67,396 | |
Collective [Member] | Consumer Loans [Member] | Stage 2 [Member] | |||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||
Gross carrying amount, Beginning balance | 292,718 | 295,132 | [1] |
Transfers: | |||
Transfers from stage 1 to stage 2 | 410,942 | 358,403 | |
Transfers from stage 1 to stage 3 | |||
Transfers from stage 2 to stage 3 | (223,169) | (248,494) | |
Transfers from stage 2 to stage 1 | (238,800) | (130,611) | |
Transfers from stage 3 to stage 2 | 57,574 | 56,489 | |
Transfers from stage 3 to stage 1 | |||
Net changes of financial assets | (62,658) | (45,093) | |
Write-off | |||
FX and other adjustments | (12) | 6,892 | |
Gross carrying amount, Ending balance | 236,595 | 292,718 | |
Expected credit losses allowances, Beginning balance | 50,808 | 60,467 | [1] |
Transfers: | |||
Transfers to stage 2 | 95,850 | 109,916 | |
Transfers to stage 3 | |||
Transfers to stage 3 | (75,229) | (78,909) | |
Transfers to stage 1 | (41,928) | (32,506) | |
Transfers to stage 2 | 10,162 | 17,002 | |
Transfers to stage 1 | |||
Net changes of the exposure and modifications in the credit risk | (7,926) | (25,712) | |
Write-off | |||
FX and other adjustments | (5) | 550 | |
Expected credit losses allowances, Ending balance | 31,732 | 50,808 | |
Collective [Member] | Consumer Loans [Member] | Stage 3 [Member] | |||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||
Gross carrying amount, Beginning balance | 290,430 | 300,193 | [1] |
Transfers: | |||
Transfers from stage 1 to stage 2 | |||
Transfers from stage 1 to stage 3 | 16,962 | 25,210 | |
Transfers from stage 2 to stage 3 | 223,169 | 248,494 | |
Transfers from stage 2 to stage 1 | |||
Transfers from stage 3 to stage 2 | (57,574) | (56,489) | |
Transfers from stage 3 to stage 1 | (2,225) | (514) | |
Net changes of financial assets | 13,765 | (3,605) | |
Write-off | (219,402) | (223,919) | |
FX and other adjustments | (4) | 1,060 | |
Gross carrying amount, Ending balance | 265,121 | 290,430 | |
Expected credit losses allowances, Beginning balance | 170,263 | 165,052 | [1] |
Transfers: | |||
Transfers to stage 2 | |||
Transfers to stage 3 | 9,061 | 11,699 | |
Transfers to stage 3 | 108,792 | 111,334 | |
Transfers to stage 1 | |||
Transfers to stage 2 | (28,649) | (31,914) | |
Transfers to stage 1 | (865) | (233) | |
Net changes of the exposure and modifications in the credit risk | 104,328 | 135,298 | |
Write-off | (204,286) | (223,919) | |
FX and other adjustments | (2) | 2,946 | |
Expected credit losses allowances, Ending balance | 158,642 | 170,263 | |
Consumer Loans [Member] | |||
Loans and Accounts Receivable at Amortized Cost (Details) - Schedule of gross carrying amount expected credit loss [Line Items] | |||
Gross carrying amount, Beginning balance | 5,546,195 | 5,322,789 | [1] |
Transfers: | |||
Transfers from stage 1 to stage 2 | |||
Transfers from stage 1 to stage 3 | |||
Transfers from stage 2 to stage 3 | |||
Transfers from stage 2 to stage 1 | |||
Transfers from stage 3 to stage 2 | |||
Transfers from stage 3 to stage 1 | |||
Net changes of financial assets | (385,899) | 382,079 | |
Write-off | (219,402) | (223,919) | |
FX and other adjustments | (15) | 65,246 | |
Gross carrying amount, Ending balance | 4,940,879 | 5,546,195 | |
Expected credit losses allowances, Beginning balance | 288,467 | 301,014 | [1] |
Transfers: | |||
Transfers to stage 2 | 59,428 | 81,199 | |
Transfers to stage 3 | 7,577 | 10,066 | |
Transfers to stage 3 | 33,563 | 32,425 | |
Transfers to stage 1 | (28,339) | (24,565) | |
Transfers to stage 2 | (18,487) | (14,912) | |
Transfers to stage 1 | (611) | (186) | |
Net changes of the exposure and modifications in the credit risk | 141,894 | 125,227 | |
Write-off | (204,286) | (223,919) | |
FX and other adjustments | (7) | 2,118 | |
Expected credit losses allowances, Ending balance | $ 279,199 | $ 288,467 | |
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. |
Loans and Accounts Receivabl_10
Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income (Details) - Schedule of gross carrying amount - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Gross carrying amount, Beginning balance | $ 66,166 | $ 68,694 |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | 3,857 | (3,486) |
Write-off | ||
Foreign Exchange adjustments and others | 662 | 958 |
Gross carrying amount, Ending balance | 70,685 | 66,166 |
ECL allowance, Beginning balance | 101 | 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 | 1,252 | 47 |
Write-off | ||
Foreign Exchange adjustments and others | 1 | (52) |
ECL allowance, Ending balance | 1,354 | 101 |
Individual [Member] | Stage 1 [Member] | ||
Gross carrying amount, Beginning balance | 66,166 | 63,745 |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | 3,857 | 1,428 |
Write-off | ||
Foreign Exchange adjustments and others | 662 | 993 |
Gross carrying amount, Ending balance | 70,685 | 66,166 |
ECL allowance, Beginning balance | 101 | 88 |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | 1,252 | 65 |
Write-off | ||
Foreign Exchange adjustments and others | 1 | (52) |
ECL allowance, Ending balance | 1,354 | 101 |
Individual [Member] | Stage 2 [Member] | ||
Gross carrying amount, Beginning balance | 4,949 | |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | (4,914) | |
Write-off | ||
Foreign Exchange adjustments and others | (35) | |
Gross carrying amount, Ending balance | ||
ECL allowance, Beginning balance | 18 | |
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes of the exposure and modifications in the credit risk | (18) | |
Write-off | ||
Foreign Exchange adjustments and others | ||
ECL allowance, Ending balance | ||
Individual [Member] | Stage 3 [Member] | ||
Gross carrying amount, Beginning balance | ||
Transfers | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Net changes on financial assets | ||
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) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2020CLP ($) | |
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) [Line Items] | |||
Available for sale investments | $ 390,954 | $ 258,183 | |
valuation adjustment | $ 102,855 | 29,184 | |
Comder Contraparte Central S.A. [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) [Line Items] | |||
Available for sale investments | 65,140 | 158,600 | |
London Clearing House (LCH) [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) [Line Items] | |||
Available for sale investments | 73,109 | $ 67,685 | |
Total Attributable To Shareholders Of The Bank [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) [Line Items] | |||
valuation adjustment | 101,696 | 28,135 | |
Non-controlling Interest [Member] | |||
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) [Line Items] | |||
valuation adjustment | $ 1,159 | $ 1,049 |
Debt Instruments at Fair Valu_4
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) - Schedule of debt instrument - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt instruments at fair value through other comprehensive income | $ 7,162,542 | $ 4,010,272 | |
Chilean Central Bank And Government Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | 6,353,360 | 3,367,557 | |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | |||
Debt instruments at fair value through other comprehensive income | 272,802 | ||
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | |||
Debt instruments at fair value through other comprehensive income | 1,008,450 | 1,186,724 | |
Chilean Central Bank And Government Securities [Member] | Other Chilean Central Bank And Government Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | [1] | 5,344,910 | 1,908,031 |
Chilean Central Bank And Government Securities [Member] | Securities Sold Under Repurchase Agreements [Member] | |||
Debt instruments at fair value through other comprehensive income | 969,508 | 379,294 | |
Other Chilean Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | 16,731 | 19,556 | |
Other Chilean Securities [Member] | Securities Sold Under Repurchase Agreements [Member] | |||
Debt instruments at fair value through other comprehensive income | 399 | 131 | |
Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | |||
Debt instruments at fair value through other comprehensive income | 492 | 398 | |
Other Chilean Securities [Member] | Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | |||
Debt instruments at fair value through other comprehensive income | 14,022 | 16,748 | |
Other Chilean Securities [Member] | Other Instruments Issued in The Country [Member] | |||
Debt instruments at fair value through other comprehensive income | 2,217 | 2,410 | |
Foreign Financial Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | 792,451 | 623,159 | |
Foreign Financial Securities [Member] | Securities Sold Under Repurchase Agreements [Member] | |||
Debt instruments at fair value through other comprehensive income | |||
Foreign Financial Securities [Member] | Foreign Central Banks And Government Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | 269,803 | 197,685 | |
Foreign Financial Securities [Member] | Other Foreign Financial Securities [Member] | |||
Debt instruments at fair value through other comprehensive income | $ 522,648 | $ 425,474 | |
[1] | Includes Treasury bonds in Chilean pesos and UF. |
Debt Instruments at Fair Valu_5
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) - Schedule of available for sale investments cumulative unrealized profit and loss - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Chilean central bank and government securities | ||
Amortized cost | $ (39,634) | |
Fair value | $ 7,062,407 | 3,981,088 |
Unrealized profit | 7,162,542 | 4,010,272 |
Unrealized loss | 159,535 | 68,818 |
Later than one year [member] | ||
Chilean central bank and government securities | ||
Amortized cost | (56,680) | (39,634) |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Due Within 1 Year [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (56,680) | |
Fair value | 7,062,407 | 3,981,088 |
Unrealized profit | 7,162,542 | 4,010,272 |
Unrealized loss | 159,535 | 68,818 |
Chilean Central Bank And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (27,115) | |
Fair value | 6,296,639 | 3,352,833 |
Unrealized profit | 6,353,360 | 3,367,557 |
Unrealized loss | 96,180 | 41,839 |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (1,777) | |
Fair value | 270,979 | |
Unrealized profit | 272,802 | |
Unrealized loss | 3,600 | |
Chilean Central Bank And Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Chilean central bank and government securities | ||
Fair value | 1,008,450 | 1,186,487 |
Unrealized profit | 1,008,450 | 1,186,724 |
Unrealized loss | 237 | |
Chilean Central Bank And Government Securities [Member] | Other Chilean Central Bank And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (25,338) | |
Fair value | 5,288,189 | 1,895,367 |
Unrealized profit | 5,344,910 | 1,908,031 |
Unrealized loss | 96,180 | 38,002 |
Chilean Central Bank And Government Securities [Member] | Later than one year [member] | ||
Chilean central bank and government securities | ||
Amortized cost | (36,739) | (27,115) |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Chilean Central Bank And Government Securities [Member] | Later than one year [member] | Chilean Central Bank Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (1,777) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Chilean Central Bank And Government Securities [Member] | Later than one year [member] | Chilean Central Bank Notes [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Chilean Central Bank And Government Securities [Member] | Later than one year [member] | Other Chilean Central Bank And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (36,739) | (25,338) |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Chilean Central Bank And Government Securities [Member] | Due Within 1 Year [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (36,739) | |
Fair value | 6,296,639 | 3,352,833 |
Unrealized profit | 6,353,360 | 3,367,557 |
Unrealized loss | 96,180 | 41,839 |
Chilean Central Bank And Government Securities [Member] | Due Within 1 Year [Member] | Chilean Central Bank Bonds [Member] | ||
Chilean central bank and government securities | ||
Fair value | 270,979 | |
Unrealized profit | 272,802 | |
Unrealized loss | 3,600 | |
Chilean Central Bank And Government Securities [Member] | Due Within 1 Year [Member] | Chilean Central Bank Notes [Member] | ||
Chilean central bank and government securities | ||
Fair value | 1,008,450 | 1,186,487 |
Unrealized profit | 1,008,450 | 1,186,724 |
Unrealized loss | 237 | |
Chilean Central Bank And Government Securities [Member] | Due Within 1 Year [Member] | Other Chilean Central Bank And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (36,739) | |
Fair value | 5,288,189 | 1,895,367 |
Unrealized profit | 5,344,910 | 1,908,031 |
Unrealized loss | 96,180 | 38,002 |
Other Chilean Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 13,897 | 16,767 |
Unrealized profit | 16,731 | 19,556 |
Unrealized loss | 2,834 | 2,789 |
Other Chilean Securities [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Fair value | 299 | 398 |
Unrealized profit | 299 | 398 |
Unrealized loss | ||
Other Chilean Securities [Member] | Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Fair value | 13,293 | 15,962 |
Unrealized profit | 14,022 | 16,748 |
Unrealized loss | 729 | 786 |
Other Chilean Securities [Member] | Chilean Financial Institution Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Chilean Corporate Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Other Instruments Issued in The Country [Member] | ||
Chilean central bank and government securities | ||
Fair value | 305 | 407 |
Unrealized profit | 2,410 | 2,410 |
Unrealized loss | 2,105 | 2,003 |
Other Chilean Securities [Member] | Later than one year [member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Later than one year [member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Later than one year [member] | Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Later than one year [member] | Chilean Financial Institution Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Later than one year [member] | Chilean Corporate Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Later than one year [member] | Other Instruments Issued in The Country [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Due Within 1 Year [Member] | ||
Chilean central bank and government securities | ||
Fair value | 13,897 | 16,767 |
Unrealized profit | 16,731 | 19,556 |
Unrealized loss | 2,834 | 2,789 |
Other Chilean Securities [Member] | Due Within 1 Year [Member] | Time Deposits In Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Fair value | 299 | 398 |
Unrealized profit | 299 | 398 |
Unrealized loss | ||
Other Chilean Securities [Member] | Due Within 1 Year [Member] | Mortgage Finance Bonds Of Chilean Financial Institutions [Member] | ||
Chilean central bank and government securities | ||
Fair value | 13,293 | 15,962 |
Unrealized profit | 14,022 | 16,748 |
Unrealized loss | 729 | 786 |
Other Chilean Securities [Member] | Due Within 1 Year [Member] | Chilean Financial Institution Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Due Within 1 Year [Member] | Chilean Corporate Bonds [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Other Chilean Securities [Member] | Due Within 1 Year [Member] | Other Instruments Issued in The Country [Member] | ||
Chilean central bank and government securities | ||
Fair value | 305 | 407 |
Unrealized profit | 2,410 | 2,410 |
Unrealized loss | 2,105 | 2,003 |
Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 751,871 | |
Unrealized profit | 792,451 | |
Unrealized loss | 60,521 | |
Foreign Financial Securities [Member] | Foreign Central Banks And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 269,477 | |
Unrealized profit | 269,803 | |
Unrealized loss | 20,267 | |
Foreign Financial Securities [Member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 482,394 | |
Unrealized profit | 522,648 | |
Unrealized loss | 40,254 | |
Foreign Financial Securities [Member] | Later than one year [member] | ||
Chilean central bank and government securities | ||
Amortized cost | (19,941) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Financial Securities [Member] | Later than one year [member] | Foreign Central Banks And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (19,941) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Financial Securities [Member] | Later than one year [member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | ||
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Financial Securities [Member] | Due Within 1 Year [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (19,941) | |
Fair value | 751,871 | |
Unrealized profit | 792,451 | |
Unrealized loss | 60,521 | |
Foreign Financial Securities [Member] | Due Within 1 Year [Member] | Foreign Central Banks And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (19,941) | |
Fair value | 269,477 | |
Unrealized profit | 269,803 | |
Unrealized loss | 20,267 | |
Foreign Financial Securities [Member] | Due Within 1 Year [Member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 482,394 | |
Unrealized profit | 522,648 | |
Unrealized loss | $ 40,254 | |
Foreign Central Banks And Government Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (12,519) | |
Fair value | 611,488 | |
Unrealized profit | 623,159 | |
Unrealized loss | 24,190 | |
Foreign Central Banks And Government Securities [Member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (1,074) | |
Fair value | 413,468 | |
Unrealized profit | 425,474 | |
Unrealized loss | 13,080 | |
Foreign Central Banks And Government Securities [Member] | Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (11,445) | |
Fair value | 198,020 | |
Unrealized profit | 197,685 | |
Unrealized loss | 11,110 | |
Foreign Central Banks And Government Securities [Member] | Later than one year [member] | ||
Chilean central bank and government securities | ||
Amortized cost | (12,519) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Central Banks And Government Securities [Member] | Later than one year [member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (1,074) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Central Banks And Government Securities [Member] | Later than one year [member] | Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Amortized cost | (11,445) | |
Fair value | ||
Unrealized profit | ||
Unrealized loss | ||
Foreign Central Banks And Government Securities [Member] | Due Within 1 Year [Member] | ||
Chilean central bank and government securities | ||
Fair value | 611,488 | |
Unrealized profit | 623,159 | |
Unrealized loss | 24,190 | |
Foreign Central Banks And Government Securities [Member] | Due Within 1 Year [Member] | Other Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 413,468 | |
Unrealized profit | 425,474 | |
Unrealized loss | 13,080 | |
Foreign Central Banks And Government Securities [Member] | Due Within 1 Year [Member] | Foreign Financial Securities [Member] | ||
Chilean central bank and government securities | ||
Fair value | 198,020 | |
Unrealized profit | 197,685 | |
Unrealized loss | $ 11,110 |
Debt Instruments at Fair Valu_6
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) - Schedule of changes in the fair value and the corresponding ECL - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Beginning balance | $ 4,010,272 | $ 2,394,323 |
New assets purchased | 14,708,776 | |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | (11,440,253) | (5,694,456) |
Changes due to modifications not derecognized | 100,401 | 2,273,857 |
Write-off | ||
Other adjustments | (216,654) | (657,908) |
Ending balance | 7,162,542 | 4,010,272 |
ECL [Member] | ||
Beginning balance | 456 | 258 |
New assets purchased | 1,965 | 816 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | (1,501) | (614) |
Changes due to modifications not derecognized | 219 | 67 |
Write-off | ||
Other adjustments | (1) | (71) |
Ending balance | 1,138 | 456 |
Expected Credit Losses Stage1 [Member] | ||
Beginning balance | 4,010,272 | 2,394,323 |
New assets purchased | 14,708,776 | |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | (11,440,253) | (5,694,456) |
Changes due to modifications not derecognized | 100,401 | 394,648 |
Write-off | ||
Other adjustments | (216,654) | (657,908) |
Ending balance | 7,162,542 | 4,010,272 |
Expected Credit Losses Stage1 [Member] | ECL [Member] | ||
Beginning balance | 456 | 258 |
New assets purchased | 1,965 | 816 |
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | (1,501) | (614) |
Changes due to modifications not derecognized | 219 | 67 |
Write-off | ||
Other adjustments | (1) | (71) |
Ending balance | 1,138 | 456 |
Expected Credit Losses Stage2 [Member] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | ||
Changes due to modifications not derecognized | ||
Write-off | ||
Other adjustments | ||
Ending balance | ||
Expected Credit Losses Stage2 [Member] | ECL [Member] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | ||
Changes due to modifications not derecognized | ||
Write-off | ||
Other adjustments | ||
Ending balance | ||
Expected Credit Losses Stage3 [Member] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | ||
Changes due to modifications not derecognized | ||
Write-off | ||
Other adjustments | ||
Ending balance | ||
Expected Credit Losses Stage3 [Member] | ECL [Member] | ||
Beginning balance | ||
New assets purchased | ||
Transfers to stage 1 | ||
Transfers to stage 2 | ||
Transfers to stage 3 | ||
Assets derecognized or matured (excluding write-off) | ||
Changes due to modifications not derecognized | ||
Write-off | ||
Other adjustments | ||
Ending balance |
Debt Instruments at Fair Valu_7
Debt Instruments at Fair Value Through Other Comprehensive Income (Details) - Schedule of gross profits and losses realized on the sale of available for sale investments - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of gross profits and losses realized on the sale of available for sale investments [Abstract] | |||
Sale of available for sale investments generating realized profits | $ 3,696,791 | $ 5,781,636 | $ 3,505,266 |
Realized profits | 82,925 | 63,828 | 8,802 |
Sale of available for sale investments generating realized losses | 379,046 | 607,349 | 709,371 |
Realized losses | $ 2,246 | $ 156 | $ 6,004 |
Investments in Associates and_3
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Redbanc S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | [1] | 3343.00% | |||
Carrying value | [1] | $ 2,822 | |||
Profit and loss | [1] | ||||
Transbank S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | [1] | 2500.00% | |||
Carrying value | [1] | $ 17,651 | |||
Profit and loss | [1] | ||||
Centro de Compensacion Automatizado S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | 3333.00% | 3333.00% | 3333.00% | ||
Carrying value | $ 2,788 | $ 2,184 | $ 1,894 | ||
Profit and loss | $ 603 | $ 293 | $ 305 | ||
Sociedad Interbancaria de Deposito de Valores S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | 2929.00% | 2929.00% | 2929.00% | ||
Carrying value | $ 1,633 | $ 1,485 | $ 1,233 | ||
Profit and loss | $ 302 | $ 252 | $ 223 | ||
Camara de Compensacion de Alto Valor S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | 1500.00% | 1500.00% | 1500.00% | ||
Carrying value | $ 971 | $ 958 | $ 945 | ||
Profit and loss | $ 28 | $ 29 | $ 58 | ||
Administrador Financiero del Transantiago S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | 2000.00% | 2000.00% | 2000.00% | ||
Carrying value | $ 3,476 | $ 3,986 | $ 3,680 | ||
Profit and loss | $ 337 | $ 390 | $ 582 | ||
Sociedad Nexus S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | [1] | 1290.00% | |||
Carrying value | [1] | $ 2,279 | |||
Profit and loss | [1] | ||||
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Ownership interest | 1207.00% | 1207.00% | 1248.00% | ||
Carrying value | $ 1,528 | $ 1,556 | $ 1,491 | ||
Profit and loss | (24) | 60 | 57 | ||
Subtotal | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Carrying value | 10,396 | 10,169 | 31,995 | ||
Profit and loss | 1,246 | 1,024 | 1,225 | ||
Bladex [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Carrying value | |||||
Profit and loss | 13 | 19 | |||
Stock Exchanges [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Carrying value | |||||
Profit and loss | 142 | 109 | 148 | ||
Others [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Carrying value | 8 | 8 | |||
Profit and loss | (67) | ||||
Associated Companies [Member] | |||||
Investments in Associates and other Companies (Details) - Schedule of investments in associates and other companies [Line Items] | |||||
Carrying value | 10,396 | 10,177 | 32,003 | ||
Profit and loss | $ 1,388 | $ 1,146 | $ 1,325 | ||
[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 v) and Note 38. |
Investments in Associates and_4
Investments in Associates and other Companies (Details) - Schedule of fair value of these equity investments - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Investments in Associates and other Companies (Details) - Schedule of fair value of these equity investments [Line Items] | ||
Investment value | $ 548 | $ 482 |
Bladex [Member] | ||
Investments in Associates and other Companies (Details) - Schedule of fair value of these equity investments [Line Items] | ||
Investment value | 310 | 328 |
Stock Exchanges [Member] | ||
Investments in Associates and other Companies (Details) - Schedule of fair value of these equity investments [Line Items] | ||
Investment value | 228 | 154 |
Others [Member] | ||
Investments in Associates and other Companies (Details) - Schedule of fair value of these equity investments [Line Items] | ||
Investment value | $ 10 |
Investments in Associates and_5
Investments in Associates and other Companies (Details) - Schedule of financial information of associates - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | $ 88,453 | $ 1,362,868 | $ 1,059,806 |
Liabilities | 36,891 | 1,201,475 | 919,068 |
Equity | 46,781 | 142,750 | 119,143 |
Net income for the year | 4,781 | 18,643 | 21,595 |
Redbanc S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 23,413 | 20,825 | |
Liabilities | 14,106 | 12,469 | |
Equity | 8,441 | 7,505 | |
Net income for the year | 866 | 851 | |
Transbank S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 1,217,448 | 904,558 | |
Liabilities | 1,133,441 | 835,200 | |
Equity | 70,605 | 56,888 | |
Net income for the year | 13,402 | 12,470 | |
Centro de Compensacion Automatizado S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 11,134 | 8,550 | 7,073 |
Liabilities | 2,953 | 1,998 | 1,480 |
Equity | 6,371 | 5,671 | 4,677 |
Net income for the year | 1,810 | 881 | 916 |
Sociedad Interbancaria de Deposito de Valores S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 5,840 | 5,074 | 4,392 |
Liabilities | 314 | 4 | 230 |
Equity | 4,496 | 4,209 | 3,400 |
Net income for the year | 1,030 | 861 | 762 |
Camara de Compensacion de Alto Valor S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 7,158 | 7,372 | 6,728 |
Liabilities | 722 | 986 | 622 |
Equity | 6,246 | 6,193 | 5,722 |
Net income for the year | 190 | 193 | 384 |
Administrador Financiero del Transantiago S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 49,841 | 54,712 | 55,818 |
Liabilities | 30,670 | 34,787 | 37,419 |
Equity | 17,227 | 17,978 | 15,490 |
Net income for the year | 1,944 | 1,947 | 2,909 |
Sociedad Nexus S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 31,147 | 35,139 | |
Liabilities | 13,471 | 18,335 | |
Equity | 17,660 | 13,955 | |
Net income for the year | 16 | 2,849 | |
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||
Investments in Associates and other Companies (Details) - Schedule of financial information of associates [Line Items] | |||
Assets | 14,480 | 15,152 | 25,273 |
Liabilities | 2,232 | 2,682 | 13,313 |
Equity | 12,441 | 11,993 | 11,506 |
Net income for the year | $ (193) | $ 477 | $ 454 |
Investments in Associates and_6
Investments in Associates and other Companies (Details) - Schedule of investments in other companies - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of investments in other companies [Abstract] | ||||
Opening balance as of January 1, | $ 10,177 | $ 32,003 | $ 27,585 | |
Total | 10,396 | 10,177 | 32,003 | |
Acquisition of investments | ||||
Sale of investments | (20) | |||
Participation in income | 1,388 | 1,146 | 1,325 | |
Dividends received | (508) | (130) | (38) | |
Other adjustments | [1] | $ (641) | $ (22,842) | $ 3,131 |
[1] | The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, Thus, these investment have been reclassified to held for sale and presented under Other assets in the Consolidated Statement of Financial Position. As of Decemer 31, 2020, only Nexus has been sold. |
Intangible Assets (Details) - S
Intangible Assets (Details) - Schedule of composition of intangible assets $ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019USD ($) | |
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Net balance at beginning (in Pesos) | $ 73,389 | $ 73,389 | $ 66,923 | |
Net balance at ending | $ 82,537 | $ 73,389 | $ 73,389 | |
Licences [member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Average remaining useful life | ||||
Net balance at beginning (in Pesos) | $ 82 | |||
Net balance at ending | ||||
Software Development [Member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Average remaining useful life | 2 years | 2 years | 2 years | 2 years |
Net balance at beginning (in Pesos) | $ 73,389 | $ 73,389 | $ 66,841 | |
Net balance at ending | 82,537 | $ 73,389 | $ 73,389 | |
Gross Carrying Amount [Member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Gross balance | 284,534 | 250,002 | ||
Gross Carrying Amount [Member] | Licences [member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Gross balance | 35,997 | 35,997 | ||
Gross Carrying Amount [Member] | Software Development [Member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Gross balance | 248,537 | 214,005 | ||
Accumulated Depreciation and Amortisation [Member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Accumulated amortization | (201,997) | (176,613) | ||
Accumulated Depreciation and Amortisation [Member] | Licences [member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Accumulated amortization | (35,997) | (35,997) | ||
Accumulated Depreciation and Amortisation [Member] | Software Development [Member] | ||||
Intangible Assets (Details) - Schedule of composition of intangible assets [Line Items] | ||||
Accumulated amortization | $ (166,000) | $ (140,616) |
Intangible Assets (Details) -_2
Intangible Assets (Details) - Schedule of changes in the value of intangible assets - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Intangible Assets (Details) - Schedule of changes in the value of intangible assets [Line Items] | ||
Gross, beginning balance | $ 250,002 | $ 218,415 |
Gross, ending balance | 284,534 | 250,002 |
Accumulated amortization, beginning balance | (176,613) | (151,492) |
Accumulated amortization ,ending balance | 201,997 | (176,613) |
Acquisitions | 35,170 | 32,860 |
Disposals and impairment | (638) | (1,227) |
Other | (46) | |
Year’s amortization | (25,384) | (26,348) |
Other changes | 1,227 | |
Licenses [Member] | ||
Intangible Assets (Details) - Schedule of changes in the value of intangible assets [Line Items] | ||
Gross, beginning balance | 35,997 | 37,224 |
Gross, ending balance | 35,997 | 35,997 |
Accumulated amortization, beginning balance | (35,997) | (37,142) |
Accumulated amortization ,ending balance | (35,997) | (35,997) |
Acquisitions | ||
Disposals and impairment | (1,227) | |
Other | ||
Year’s amortization | (82) | |
Other changes | 1,227 | |
Software development [Member] | ||
Intangible Assets (Details) - Schedule of changes in the value of intangible assets [Line Items] | ||
Gross, beginning balance | 214,005 | 181,191 |
Gross, ending balance | 248,537 | 214,005 |
Accumulated amortization, beginning balance | (140,616) | (114,350) |
Accumulated amortization ,ending balance | (166,000) | (140,616) |
Acquisitions | 35,170 | 32,860 |
Disposals and impairment | (638) | |
Other | (46) | |
Year’s amortization | (25,384) | (26,266) |
Other changes |
Fixed Assets and Right of Use_3
Fixed Assets and Right of Use Assets and Lease Liability (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Disclosure of quantitative information about leases for lessee [abstract] | |
Due to impairment | $ 1,013 |
Fixed Assets and Right of Use_4
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Net opening balance | $ 250,761 | $ 253,586 |
Total | 240,854 | 250,761 |
Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Net opening balance | 173,061 | 174,758 |
Total | 167,694 | 173,061 |
Equipment [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Net opening balance | 55,494 | 56,865 |
Total | 52,448 | 55,494 |
Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Net opening balance | 22,206 | 21,963 |
Total | 20,712 | 22,206 |
Gross balance [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | 626,742 | 591,763 |
Gross balance [Member] | Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | 308,499 | 302,405 |
Gross balance [Member] | Equipment [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | 243,084 | 219,600 |
Gross balance [Member] | Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | 75,159 | 69,758 |
Accumulated depreciation [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | (385,888) | (341,002) |
Accumulated depreciation [Member] | Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | (140,805) | (129,344) |
Accumulated depreciation [Member] | Equipment [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | (190,636) | (164,106) |
Accumulated depreciation [Member] | Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of property, plant, and equipment balances [Line Items] | ||
Total | $ (54,447) | $ (47,552) |
Fixed Assets and Right of Use_5
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of changes in value of property, plant, and equipment - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of changes in value of property, plant, and equipment [Line Items] | |||
Balances beginning | $ 591,763 | $ 544,052 | |
Balances at ending | 626,742 | 591,763 | |
Additions | 50,523 | 57,390 | |
Disposals | (15,544) | (8,666) | |
Impairment due to damage | [1] | (1,013) | |
Other | |||
Land and buildings [Member] | |||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of changes in value of property, plant, and equipment [Line Items] | |||
Balances beginning | 302,405 | 289,568 | |
Balances at ending | 308,499 | 302,405 | |
Additions | 17,790 | 16,486 | |
Disposals | (11,696) | (2,636) | |
Impairment due to damage | [1] | (1,013) | |
Other | |||
Equipment [Member] | |||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of changes in value of property, plant, and equipment [Line Items] | |||
Balances beginning | 219,600 | 192,328 | |
Balances at ending | 243,084 | 219,600 | |
Additions | 25,233 | 33,302 | |
Disposals | (1,749) | (6,030) | |
Impairment due to damage | [1] | ||
Other | |||
Other [Member] | |||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of changes in value of property, plant, and equipment [Line Items] | |||
Balances beginning | 69,758 | 62,156 | |
Balances at ending | 75,159 | 69,758 | |
Additions | 7,500 | 7,602 | |
Disposals | (2,099) | ||
Impairment due to damage | [1] | ||
Other | |||
[1] | Banco Santander-Chile has recognized in its consolidated financial statements as of December 31, 2019 impairment of $1,013 million, due to the effects of social unrest in the country. See Note 32. |
Fixed Assets and Right of Use_6
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated depreciation - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated depreciation [Line Items] | ||
Balances beginning | $ (341,002) | $ (298,472) |
Depreciation charges in the period | (56,311) | (52,855) |
Sales and disposals in the period | 16,241 | 10,815 |
Other | (4,816) | (490) |
Balances at ending | (385,888) | (341,002) |
Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated depreciation [Line Items] | ||
Balances beginning | (129,344) | (114,810) |
Depreciation charges in the period | (19,026) | (16,018) |
Sales and disposals in the period | 12,381 | 9,490 |
Other | (4,816) | |
Balances at ending | (140,805) | (129,344) |
Equipment [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated depreciation [Line Items] | ||
Balances beginning | (164,106) | (135,463) |
Depreciation charges in the period | (28,370) | (29,968) |
Sales and disposals in the period | 1,840 | 1,325 |
Other | ||
Balances at ending | (190,636) | (164,106) |
Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated depreciation [Line Items] | ||
Balances beginning | (47,552) | (40,193) |
Depreciation charges in the period | (8,915) | (6,869) |
Sales and disposals in the period | 2,020 | |
Other | (490) | |
Balances at ending | $ (54,447) | $ (47,552) |
Fixed Assets and Right of Use_7
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Opening balance | $ 157,572 | $ 154,284 |
Total | 147,997 | 157,572 |
Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Opening balance | 157,572 | 154,284 |
Total | 147,997 | 157,572 |
Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Opening balance | ||
Total | ||
Gross balance [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total | 197,573 | 182,910 |
Gross balance [Member] | Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total | 197,573 | 182,910 |
Gross balance [Member] | Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total | ||
Accumulated depreciation [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total | (49,576) | (25,338) |
Accumulated depreciation [Member] | Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total | (49,576) | (25,338) |
Accumulated depreciation [Member] | Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of the right of use assets [Line Items] | ||
Total |
Fixed Assets and Right of Use_8
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of right of use assets under lease - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of right of use assets under lease [Line Items] | ||
Balances beginning | $ 182,910 | $ 154,284 |
Balances at ending | 197,573 | 182,910 |
Additions | 24,136 | 48,008 |
Disposals | (9,473) | (17,669) |
Impairment | (1,713) | |
Other | ||
Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of right of use assets under lease [Line Items] | ||
Balances beginning | 182,910 | 154,284 |
Balances at ending | 197,573 | 182,910 |
Additions | 24,136 | 48,008 |
Disposals | (9,473) | (17,669) |
Impairment | (1,713) | |
Other | ||
Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of right of use assets under lease [Line Items] | ||
Balances beginning | ||
Balances at ending | ||
Additions | ||
Disposals | ||
Impairment | ||
Other |
Fixed Assets and Right of Use_9
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated amortization - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated amortization [Line Items] | ||
Balances beginning | $ (25,338) | |
Balances at ending | (49,576) | (25,338) |
Amortization for the period | (27,731) | (26,889) |
Sales and disposals during the period | 3,496 | 1,551 |
Transfers | ||
Others | (3) | |
Land and buildings [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated amortization [Line Items] | ||
Balances beginning | (25,338) | |
Balances at ending | (49,576) | (25,338) |
Amortization for the period | (27,731) | (26,889) |
Sales and disposals during the period | 3,496 | 1,551 |
Transfers | ||
Others | (3) | |
Other [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of accumulated amortization [Line Items] | ||
Balances beginning | ||
Balances at ending | ||
Amortization for the period | ||
Sales and disposals during the period | ||
Transfers | ||
Others |
Fixed Assets and Right of Us_10
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of lease liability balances - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of lease liability balances [Line Items] | ||
Total | $ 149,585 | $ 158,494 |
Lease liabilities [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of composition of lease liability balances [Line Items] | ||
Total | $ 149,585 | $ 158,494 |
Fixed Assets and Right of Us_11
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of operating lease commitment - Operating Lease Liability [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2018CLP ($) | |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of operating lease commitment [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 recognized due to IFRS 16 implementation | 139,558 |
Ending balance | $ 154,284 |
Fixed Assets and Right of Us_12
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of assets for the right of use leased assets and lease liability - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of assets for the right of use leased assets and lease liability [Abstract] | ||
Depreciation | $ 27,731 | $ 26,889 |
Interests | 2,651 | 2,965 |
Short term lease | 1,625 | 4,177 |
Total | $ 32,007 | $ 34,031 |
Fixed Assets and Right of Us_13
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | $ 149,585 | $ 158,494 |
Due Within 1 Year [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | 25,526 | 26,061 |
Due After 1 Year But Within 2 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | 23,461 | 24,311 |
Due After 2 Years But Within 3 years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | 21,472 | 21,667 |
Due After 3 Years But Within 4 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | 19,343 | 19,411 |
Due After 4 Years But Within 5 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | 16,336 | 16,982 |
Due After 5 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of maturity level of the lease liability [Line Items] | ||
Total | $ 43,447 | $ 50,062 |
Fixed Assets and Right of Us_14
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | $ 4,861 | $ 4,174 |
Due Within 1 Year [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | 740 | 603 |
Due After 1 Year But Within 2 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | 1,015 | 598 |
Due After 2 Years But Within 3 years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | 736 | 500 |
Due After 3 Years But Within 4 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | 639 | 498 |
Due After 4 Years But Within 5 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | 448 | 412 |
Due After 5 Years [Member] | ||
Fixed Assets and Right of Use Assets and Lease Liability (Details) - Schedule of future minimum lease cash inflows under non-cancellable operating leases [Line Items] | ||
Total | $ 1,283 | $ 1,563 |
Current and Deferred Taxes (Det
Current and Deferred Taxes (Details) - Schedule of current taxes - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Summary of current tax liabilities (assets) | |||
Current tax (assets) | $ (11,648,000) | ||
Current tax liabilities | 12,977,000 | ||
Total tax payable (recoverable) | 12,977,000 | (11,648,000) | |
(Assets) liabilities current taxes detail (net) | |||
Income tax, tax rate | 174,205,000 | 153,424,000 | $ 196,527,000 |
Minus: | |||
Provisional monthly payments | (157,648) | (159,943,000) | |
Credit for training expenses | (2,137) | (2,145,000) | |
Grant credits | (1,360) | (1,149,000) | |
Other | (83,000) | (1,835,000) | |
Total tax payable | $ 12,977,000 | $ (11,648,000) |
Current and Deferred Taxes (D_2
Current and Deferred Taxes (Details) - Schedule of effect on income - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense | |||
Current tax | $ 174,205 | $ 153,424 | $ 196,527 |
Credits (debits) for deferred taxes | |||
Origination and reversal of temporary differences | (28,465) | 37,432 | (25,517) |
Valuation provision | (56) | ||
Subtotals | 145,740 | 190,856 | 170,954 |
Tax for rejected expenses (Article No21) | 1,354 | 927 | 1,110 |
Other | (4,561) | (16,709) | (4,920) |
Net charges for income tax expense | $ 142,533 | $ 175,074 | $ 167,144 |
Current and Deferred Taxes (D_3
Current and Deferred Taxes (Details) - Schedule of effective tax rate reconciliation - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of effective tax rate reconciliation [Abstract] | ||||
Tax calculated over profit before tax | 27.00% | 27.00% | 27.00% | |
Tax calculated over profit before tax | $ 187,721 | $ 214,566 | $ 207,046 | |
Price level restatement for tax purposes | [1] | (6.15%) | (6.33%) | (5.15%) |
Price level restatement for tax purposes | [1] | $ (42,730) | $ (50,297) | $ (39,494) |
Single penalty tax (rejected expenses) | 0.19% | 0.12% | 0.14% | |
Single penalty tax (rejected expenses) | $ 1,354 | $ 927 | $ 1,110 | |
Other | (0.55%) | 1.24% | (0.20%) | |
Other | $ (3,812) | $ 9,878 | $ (1,518) | |
Effective tax rates and expenses for income tax | 20.50% | 22.03% | 21.79% | |
Effective tax rates and expenses for income tax | $ 142,533 | $ 175,074 | $ 167,144 | |
[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) - Schedule of effect of deferred taxes on comprehensive income - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred tax assets | ||
Debt instruments at FVOCI | $ 14,907 | $ 8,074 |
Cash flow hedges | 36,927 | 10,918 |
Total deferred tax assets recognized through other comprehensive income | 51,834 | 18,992 |
Deferred tax liabilities | ||
Debt instruments at FVOCI | (42,371) | (15,830) |
Cash flow hedges | ||
Total deferred tax liabilities recognized through other comprehensive income | (42,371) | (15,830) |
Net deferred tax balances in equity | 9,463 | 3,162 |
Deferred taxes in equity attributable to shareholders of the Bank | 9,776 | 3,444 |
Deferred tax in equity attributable to non-controlling interests | $ (313) | $ (282) |
Current and Deferred Taxes (D_5
Current and Deferred Taxes (Details) - Schedule of effect of deferred taxes on income - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets | ||
Interests and adjustments | $ 8,166 | $ 9,531 |
Extraordinary charge-offs | 17,705 | 15,325 |
Assets received in lieu of payment | 1,425 | 1,214 |
Exchange rate adjustments | 89 | |
Property, plant and equipment valuation | 6,381 | |
Allowance for loan losses | 238,670 | 188,956 |
Provision for expenses | 101,321 | 89,098 |
Leased assets | 89,458 | 116,226 |
Subsidiaries tax losses | 7,394 | 5,416 |
Right of use assets | 428 | 249 |
Total deferred tax assets | 464,656 | 432,396 |
Deferred tax liabilities | ||
Valuation of investments | (19,967) | (17,518) |
Depreciation | (7,394) | |
Prepaid expenses | (16,691) | (20,347) |
Valuation provision | (5,775) | (6,058) |
Derivatives | (37,265) | (36,512) |
Exchange rate adjustments | (2,817) | |
Other | (30) | (75) |
Total deferred tax liabilities | $ (87,122) | $ (83,327) |
Current and Deferred Taxes (D_6
Current and Deferred Taxes (Details) - Schedule of deferred tax assets and liabilities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets | ||
Recognized through other comprehensive income | $ 51,834 | $ 18,992 |
Recognized through profit or loss | 464,656 | 432,396 |
Total deferred tax assets | 516,490 | 451,388 |
Deferred tax liabilities | ||
Recognized through other comprehensive income | (42,371) | (15,830) |
Recognized through profit or loss | (87,122) | (83,327) |
Total deferred tax liabilities | $ (129,493) | $ (99,157) |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | 1 Months Ended | |
May 31, 2020 | Oct. 31, 2020 | |
Disclosure of other assets [text block] [Abstract] | ||
Financing proposal amount | $ 2,200 | |
Disbursement of financing amount | $ 1,150 | |
Disbursement percentage | 50.00% |
Other Assets (Details) - Schedu
Other Assets (Details) - Schedule of other assets - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of other assets [Abstract] | |||
Assets for leasing | [1] | $ 62,967,000 | $ 67,139,000 |
Assets received or awarded in lieu of payment | |||
Assets received in lieu of payment | 15,213,000 | 18,755,000 | |
Assets awarded at judicial sale | 17,430,000 | 22,177,000 | |
Provision on assets received in lieu of payment or awarded | (1,196,000) | (2,042,000) | |
Subtotal | 31,447,000 | 38,890,000 | |
Other assets | |||
Guarantee deposits (margin accounts) | [2] | 608,359,000 | 314,616,000 |
Non-current assets classified as held for sale | [3] | 22,036 | 22,394,000 |
Gold investments | 765,000 | 680,000 | |
VAT credit | 27,519,000 | 22,663,000 | |
Income tax recoverable | 1,787,000 | ||
Prepaid expenses | [4] | 387,668,000 | 432,030,000 |
Assets recovered from leasing for sale | 3,191,000 | 3,575,000 | |
Valuation adjustments by macro hedge | [5] | 327,938,000 | 210,867,000 |
Pension plan assets | 673,000 | 670,000 | |
Accounts and notes receivable | 100,504,000 | 147,108,000 | |
Notes receivable through brokerage and simultaneous transactions | 41,960,000 | 43,354,000 | |
Other receivable assets | 33,567,000 | 44,262,000 | |
Other assets | [6] | 98,780,000 | 89,111,000 |
Subtotal | 1,652,960,000 | 1,333,117,000 | |
Total | $ 1,747,374,000 | $ 1,439,146,000 | |
[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] | 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 38. | ||
[4] | Under this item, the Bank has recorded prepaid expense related to the Santander LATAM Pass program, which is consumed on a monthly basis in accordance with the client use of Bank's transactional products and therefore the Bank assigned the respective LATAM Pass miles. In May 2020, LATAM Airlines Group S.A began a reorganization process under Chapter 11, with an aim to was continue operating. LATAM has publicly stated its intention to honor all current and future tickets, as well as travel vouchers, miles and frequent flyer programs, which has been ratified by the bankruptcy court of New York (in charge of chapter 11). In addition, LATAM has formalized two tranches of the DIP (Debtor in Possession) financing proposal for a total of USD 2,200 million, obtaining all resources necessary to continue operating during the crisis. On October, the company made its first disbursement for US$1,150 million from de DIP financing, which represents 50% of the amount available. | ||
[5] | Net assets and liabilities fair value valuation subject to macro hedges. See Note 7 | ||
[6] | Other assets mainly include settlement of derivatives and other financial transactions. |
Time Deposits and Other Time _3
Time Deposits and Other Time Liabilities (Details) - Schedule of time deposits and other time liabilities $ in Millions, $ in Millions | Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019USD ($) |
Deposits and other demand liabilities | ||||
Checking accounts | $ 11,342,648 | $ 8,093,108 | ||
Other deposits and demand accounts | 1,583,183 | 741,103 | ||
Other demand liabilities | 1,635,062 | 1,463,221 | ||
Subtotal | 14,560,893 | 10,297,432 | ||
Time deposits and other time liabilities | ||||
Time deposits | 10,421,872 | 13,064,932 | ||
Time savings account | 153,330 | 123,787 | ||
Other time liabilities | 6,589 | 4,098 | ||
Subtotal | 10,581,791 | 13,192,817 | ||
Total | $ 14,560,893 | $ 25,142,684 | $ 10,297,432 | $ 23,490,249 |
Interbank Borrowings (Details)
Interbank Borrowings (Details) - Chilean Central Bank [Member] $ in Billions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Interbank Borrowings (Details) [Line Items] | |
Line of credit (in Dollars) | $ 24 |
MPR interest rate percentage | 0.50% |
Borrowing percentage | 3.00% |
Additional borrowing percentage | 12.00% |
Loan provided description | Loans provided by this line of credit may have maturities of up to 4 years and must be secured by government bonds, corporate bonds or highly rated large commercial loans as collateral. Loans provided under the second line of credit, the LCL, are unsecured and may have maturities of up to 2 years. |
Interbank Borrowings (Details)
Interbank Borrowings (Details) - Schedule of Interbank borrowings - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | $ 4,959,260,000 | |
Loans From Domestic Financial Institutions [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 217,102,000 | 286,603,000 |
Loans From Foreign Financial Institutions [Member] | Banco Santander S.A., Madrid [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 534,496 | |
Loans From Foreign Financial Institutions [Member] | The Bank of Nova Scotia [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 171,024 | 134,819,000 |
Loans From Foreign Financial Institutions [Member] | The Bank of New York Mellon [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 106,860 | 119,616,000 |
Loans From Foreign Financial Institutions [Member] | Bank Of America N.A. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 90,711 | 355,051,000 |
Loans From Foreign Financial Institutions [Member] | Zurcher Kantonalbank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 71,304 | |
Loans From Foreign Financial Institutions [Member] | Wells Fargo Bank N.A. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 71,259 | 231,823,000 |
Loans From Foreign Financial Institutions [Member] | State Bank of India [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 36,013 | 28,231,000 |
Loans From Foreign Financial Institutions [Member] | Sumitomo Mitsui Banking Corporation [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 35,628 | 179,415,000 |
Loans From Foreign Financial Institutions [Member] | Wachovia Bank N,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 10,254 | |
Loans From Foreign Financial Institutions [Member] | Banco Santander Hong Kong [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 7,960 | 3,697,000 |
Loans From Foreign Financial Institutions [Member] | Bank of Tokio Mitsubishi [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 2,055 | 156,000 |
Loans From Foreign Financial Institutions [Member] | Banco Santander Brasil S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,694 | 7,873,000 |
Loans From Foreign Financial Institutions [Member] | Standard Chartered Bank [Member] [Default Label] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,691 | 153,373,000 |
Loans From Foreign Financial Institutions [Member] | Jp Morgan Chase, New York [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,571 | |
Loans From Foreign Financial Institutions [Member] | Standard Chartered Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,516 | 3,613,000 |
Loans From Foreign Financial Institutions [Member] | Caja Madrid - Caja de Ahorros [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 862,000 | |
Loans From Foreign Financial Institutions [Member] | The Hongkong and Shanghai Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 801,000 | |
Loans From Foreign Financial Institutions [Member] | Korea Exchange Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 760,000 | 761,000 |
Loans From Foreign Financial Institutions [Member] | Loans From Foreign Financial Institutions [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 755,000 | 898,000 |
Loans From Foreign Financial Institutions [Member] | Hong Kong and Shanghai Banking [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 598,000 | 684,000 |
Loans From Foreign Financial Institutions [Member] | Kookmin Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 376,000 | 185,000 |
Loans From Foreign Financial Institutions [Member] | Banco Do Brasil [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 265,000 | |
Loans From Foreign Financial Institutions [Member] | U.S. Bank[Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 248,000 | |
Loans From Foreign Financial Institutions [Member] | China Merchants Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 231,000 | 597,000 |
Loans From Foreign Financial Institutions [Member] | Taiwan Cooperative Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 227,000 | 131,000 |
Loans From Foreign Financial Institutions [Member] | Bank of China [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 223,000 | 952,000 |
Loans From Foreign Financial Institutions [Member] | Hua Nan Commercial Bank Ltd, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 200,000 | 102,000 |
Loans From Foreign Financial Institutions [Member] | Banque Bruxelles Lambert S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 174,000 | |
Loans From Foreign Financial Institutions [Member] | Banca Monte dei Paschi di Siena [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 163,000 | 58,000 |
Loans From Foreign Financial Institutions [Member] | Unicredito Italiano Spa [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 161,000 | 583,000 |
Loans From Foreign Financial Institutions [Member] | Keb Hana Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 156,000 | 119,000 |
Loans From Foreign Financial Institutions [Member] | Banco Santander Central Hispano [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 141,000 | 848,000 |
Loans From Foreign Financial Institutions [Member] | Bper Banca S.P.A.[Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 137,000 | |
Loans From Foreign Financial Institutions [Member] | Hdfc Bank Limited [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 131,000 | 72,000 |
Loans From Foreign Financial Institutions [Member] | Bank Leumi Le Israel B.M.[Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 127,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of Baroda [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 124,000 | 9,000 |
Loans From Foreign Financial Institutions [Member] | Fortis Bank S,A,/N,V, Brussels [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 108,000 | 50,000 |
Loans From Foreign Financial Institutions [Member] | Banca Commerciale Italiana [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 88,000 | 50,000 |
Loans From Foreign Financial Institutions [Member] | Caixa Destalvis I Pensions de Barcelona [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 87,000 | 63,000 |
Loans From Foreign Financial Institutions [Member] | Banco Bpm Spa [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 84,000 | 66,000 |
Loans From Foreign Financial Institutions [Member] | Rabobank, Hong Kong Branch [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 79,000 | 477,000 |
Loans From Foreign Financial Institutions [Member] | Banco de la Republica Oriental [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 74,000 | 23,000 |
Loans From Foreign Financial Institutions [Member] | Kbc Bank Nv [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 68,000 | 406,000 |
Loans From Foreign Financial Institutions [Member] | Canara Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 61,000 | 66,000 |
Loans From Foreign Financial Institutions [Member] | Habib Bank Limited [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 61,000 | 38,000 |
Loans From Foreign Financial Institutions [Member] | First Union National Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 60,000 | |
Loans From Foreign Financial Institutions [Member] | Caixabank S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 58,000 | 166,000 |
Loans From Foreign Financial Institutions [Member] | Icici Bank Limited [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 52,000 | |
Loans From Foreign Financial Institutions [Member] | Kotak Mahindra Bank Limited [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 49,000 | |
Loans From Foreign Financial Institutions [Member] | Citibank N.A. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 46,000 | 269,841,000 |
Loans From Foreign Financial Institutions [Member] | Arab Bank Plc [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 41,000 | |
Loans From Foreign Financial Institutions [Member] | China Construction Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 38,000 | |
Loans From Foreign Financial Institutions [Member] | Credit Agricole Italia S.P.A. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 33,000 | |
Loans From Foreign Financial Institutions [Member] | Bankinter S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 31,000 | |
Loans From Foreign Financial Institutions [Member] | Banco de La Nacion Argentina [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 30,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of East Asia, Limited [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 29,000 | 82,000 |
Loans From Foreign Financial Institutions [Member] | Banco Popular Espanol, S.A. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 29,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Interamericano de Finanz [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 20,000 | |
Loans From Foreign Financial Institutions [Member] | Agricultural Bank of China [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 18,000 | 152,000 |
Loans From Foreign Financial Institutions [Member] | Woori Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 15,000 | 155,000 |
Loans From Foreign Financial Institutions [Member] | Denizbank A.S. , Istanbul [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 15,000 | |
Loans From Foreign Financial Institutions [Member] | United Bank of India [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 14,000 | 113,000 |
Loans From Foreign Financial Institutions [Member] | Banco Popolare [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 14,000 | |
Loans From Foreign Financial Institutions [Member] | Subtotal [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,152,199,000 | 1,495,414,000 |
Loans From Foreign Financial Institutions [Member] | Habib Metropolitan Bank Limite [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 13,000 | |
Loans From Foreign Financial Institutions [Member] | E, Sun Commercial Bank Ltd, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 11,000 | 159,000 |
Loans From Foreign Financial Institutions [Member] | Nova Ljubljanska Banka D.D. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 7,000 | |
Loans From Foreign Financial Institutions [Member] | Indian Overseas Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 6,000 | |
Loans From Foreign Financial Institutions [Member] | Shanghai Commercial and Saving [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 1,000 | 6,000 |
Loans From Foreign Financial Institutions [Member] | Mizuho Bank Ltd. NY. [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 269,404,000 | |
Loans From Foreign Financial Institutions [Member] | Barclays Bank Plc London [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 98,803,000 | |
Loans From Foreign Financial Institutions [Member] | Corporacion Andina De Fomento [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 75,097,000 | |
Loans From Foreign Financial Institutions [Member] | Zürcher Kantonalbank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 75,002,000 | |
Loans From Foreign Financial Institutions [Member] | The Toronto Dominion Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 71,191,000 | |
Loans From Foreign Financial Institutions [Member] | HSBC Bank Plc [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 69,786,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of Montreal [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 56,123,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Latinoamericano De Comercio [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 18,731,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Bilbao Vizcaya Argentaria [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 571,000 | |
Loans From Foreign Financial Institutions [Member] | Bbva Bancomer, S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 553,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of Communications [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 385,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of The West [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 261,000 | |
Loans From Foreign Financial Institutions [Member] | Danske Bank A/S [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 224,000 | |
Loans From Foreign Financial Institutions [Member] | Deutsche Bank A,G, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 193,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of Taiwan [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 135,000 | |
Loans From Foreign Financial Institutions [Member] | Shinhan Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 133,000 | |
Loans From Foreign Financial Institutions [Member] | Banca Di Credito Cooperativo [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 112,000 | |
Loans From Foreign Financial Institutions [Member] | Joint Stock Commercial Bank Fo, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 110,000 | |
Loans From Foreign Financial Institutions [Member] | Banca Nazionale Del Lavoro S,P [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 106,000 | |
Loans From Foreign Financial Institutions [Member] | Industrial Bank of Korea [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 96,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Bradesco S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 84,000 | |
Loans From Foreign Financial Institutions [Member] | Bank of Ningbo [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 83,000 | |
Loans From Foreign Financial Institutions [Member] | China Everbright Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 70,000 | |
Loans From Foreign Financial Institutions [Member] | Cassa Di Risparmio Di Parma E [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 69,000 | |
Loans From Foreign Financial Institutions [Member] | Mizuho Corporate Bank Ltd, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 67,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Comercial Portugues [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 63,000 | |
Loans From Foreign Financial Institutions [Member] | Shanghai Pudong Development Ba [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 59,000 | |
Loans From Foreign Financial Institutions [Member] | Kasikornbank Public Company Li [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 33,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Rio De La Plata S,A, [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 24,000 | |
Loans From Foreign Financial Institutions [Member] | Australia And New Zealand Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 23,000 | |
Loans From Foreign Financial Institutions [Member] | Citic Industrial Bank [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 19,000 | |
Loans From Foreign Financial Institutions [Member] | Shangai Pudong Development Ban [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 14,000 | |
Loans From Foreign Financial Institutions [Member] | Banco Caixa Geral [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 10,000 | |
Loans From Foreign Financial Institutions [Member] | Hsbc Bank USA [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 2,000 | |
Loans from foreign financial institutions, continuacion [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | 6,328,599,000 | 2,519,818,000 |
Loans from foreign financial institutions, continuacion [Member] | Subtotal [Member] | ||
Interbank Borrowings (Details) - Schedule of Interbank borrowings [Line Items] | ||
Interbank borrowings | $ 38,000 | $ 737,801,000 |
Interbank Borrowings (Details_2
Interbank Borrowings (Details) - Schedule of loans from chilean central bank - Loans From Chilean Central Bank [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings | $ 4,959,260 | |
Due Within 1 Year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings | ||
Due within 1 and 2 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings | 1,104,759 | |
Due within 2 and 3 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings | ||
Due within 3 and 4 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings | 3,854,501 | |
Due after 5 years [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from chilean central bank [Line Items] | ||
Interbank borrowings |
Interbank Borrowings (Details_3
Interbank Borrowings (Details) - Schedule of loans from financial institutions - Loans From Domestic Financial Institutions [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings | $ 217,102 | $ 286,603 |
Due within 1 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings | 217,102 | 158,855 |
Due within 1 and 2 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings | 117,344 | |
Due After 2 Years But Within 3 years [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings | 8,167 | |
Due After 3 Years But Within 4 Years [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings | 2,237 | |
Due within 3 and 4 year [Member] | ||
Interbank Borrowings (Details) - Schedule of loans from financial institutions [Line Items] | ||
Interbank borrowings |
Interbank Borrowings (Details_4
Interbank Borrowings (Details) - Schedule of foreign obligations - Loans From Foreign Financial Institutions [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Due within 1 year [Member] | ||
Interbank Borrowings (Details) - Schedule of foreign obligations [Line Items] | ||
Interbank borrowings | $ 1,116,570 | $ 1,970,790 |
Due within 1 and 2 year [Member] | ||
Interbank Borrowings (Details) - Schedule of foreign obligations [Line Items] | ||
Interbank borrowings | 35,667 | 225,025 |
Due within 2 and 3 year [Member] | ||
Interbank Borrowings (Details) - Schedule of foreign obligations [Line Items] | ||
Interbank borrowings | 37,400 | |
Due within 3 and 4 year [Member] | ||
Interbank Borrowings (Details) - Schedule of foreign obligations [Line Items] | ||
Interbank borrowings | ||
Due After 5 Years [Member] | ||
Interbank Borrowings (Details) - Schedule of foreign obligations [Line Items] | ||
Interbank borrowings | ||
Interbank borrowings | $ 1,152,237 | $ 2,233,215 |
Issued Debt Instruments and O_3
Issued Debt Instruments and Other Financial Liabilities (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Issued Debt Instruments and Other Financial Liabilities (Details) [Line Items] | ||
Percentage of yearly interest yield | 5.20% | 5.39% |
Bottom of range [member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) [Line Items] | ||
Range of maturities period | 5 years | |
Top of range [member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) [Line Items] | ||
Range of maturities period | 20 years |
Issued Debt Instruments and O_4
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of composition of issued debt instruments and other financial liabilities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Other financial liabilities | ||
Subtotals | $ 184,318 | $ 226,358 |
Issued debt instruments | ||
Subtotals | 8,204,177 | 9,500,723 |
Issued debt instruments and other financial liabilities | 8,388,495 | 9,727,081 |
Obligations To Public Sector [Member] | ||
Other financial liabilities | ||
Subtotals | 9,198 | |
Other Domestic Obligations [Member] | ||
Other financial liabilities | ||
Subtotals | 175,344 | 204,705 |
Foreign Obligations [Member] | ||
Other financial liabilities | ||
Subtotals | 8,974 | 12,455 |
Mortgage Finance Bonds [Member] | ||
Issued debt instruments | ||
Subtotals | 12,314 | 18,502 |
Senior Bonds [Member] | ||
Issued debt instruments | ||
Subtotals | 6,749,989 | 8,574,213 |
Mortgage Bonds [Member] | ||
Issued debt instruments | ||
Subtotals | 84,335 | 89,924 |
Subordinated Bonds [Member] | ||
Issued debt instruments | ||
Subtotals | $ 1,357,539 | $ 818,084 |
Issued Debt Instruments and O_5
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified [Line Items] | ||
Issued debt instruments current | $ 1,135,005 | $ 2,089,352 |
Issued debt instruments non current | 7,069,172 | 7,411,371 |
Issued debt instruments | 8,204,177 | 9,500,723 |
Other financial liabilities current | 184,028 | 226,033 |
Other financial liabilities non current | 290 | 325 |
Other financial liabilities | 184,318 | 226,358 |
Issued debt instruments and other financial liabilities current | 1,319,033 | 2,315,385 |
Issued debt instruments and other financial liabilities non current | 7,069,462 | 7,411,696 |
Issued debt instruments and other financial liabilities | 8,388,495 | 9,727,081 |
Mortgage Finance Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified [Line Items] | ||
Issued debt instruments current | 4,982 | 6,013 |
Issued debt instruments non current | 7,332 | 12,489 |
Issued debt instruments | 12,314 | 18,502 |
Senior Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified [Line Items] | ||
Issued debt instruments current | 1,124,558 | 2,078,202 |
Issued debt instruments non current | 5,625,431 | 6,496,011 |
Issued debt instruments | 6,749,989 | 8,574,213 |
Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified [Line Items] | ||
Issued debt instruments current | 5,465 | 5,137 |
Issued debt instruments non current | 78,870 | 84,787 |
Issued debt instruments | 84,335 | 89,924 |
Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of debts classified [Line Items] | ||
Issued debt instruments current | ||
Issued debt instruments non current | 1,357,539 | 818,084 |
Issued debt instruments | $ 1,357,539 | $ 818,084 |
Issued Debt Instruments and O_6
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds - Mortgage Finance Bonds [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | $ 12,314 | $ 18,502 |
Due Within 1 Year [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | 4,982 | 6,013 |
Due After 1 Year But Within 2 Years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | 3,816 | 4,944 |
Due After 2 Years But Within 3 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | 2,375 | 3,928 |
Due After 3 Years But Within 4 Years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | 979 | 2,442 |
Due After 4 Years But Within 5 Years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | $ 162 | 1,005 |
Due After 5 Years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage finance bonds [Line Items] | ||
Issued debt instruments | $ 170 |
Issued Debt Instruments and O_7
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency - Senior Bonds [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | $ 6,749,989 | $ 8,574,213 |
UF [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 4,017,708 | 4,814,604 |
USD [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 1,263,714 | 1,649,238 |
CHF [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 466,738 | 499,485 |
CLP [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 639,489 | 1,242,633 |
AUD [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 125,781 | 124,748 |
JPY [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | 68,093 | 77,797 |
EUR [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of senior bonds by currency [Line Items] | ||
Issued debt instruments | $ 168,466 | $ 165,708 |
Issued Debt Instruments and O_8
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds - Senior Bonds [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
W1 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 1,996,000 | |
Issuance rate | 1.55% annual | |
Series approval date | Feb. 4, 2018 | |
Series maximum amount | $ 2,000,000 | |
Maturity date | Jun. 1, 2025 | |
W1 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 5 | |
W1 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 3 | |
UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 1,996,000 | |
Series maximum amount | 2,000,000 | |
US Bonds [Member] | USD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 742,500,000 | |
Term | 5 | |
Issuance rate | 2,70% annual | |
Series approval date | Jan. 7, 2020 | |
Series maximum amount | $ 750,000,000 | |
Maturity date | Jan. 7, 2025 | |
USD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 742,500,000 | |
Series maximum amount | 750,000,000 | |
T7 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 5,000,000 | |
Term | 4 | |
Issuance rate | 2,50% | |
Series approval date | Feb. 1, 2016 | |
Series maximum amount | $ 5,000,000 | |
Maturity date | Feb. 1, 2023 | |
T8 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 5,678,000 | |
Issuance rate | 2,55% | |
Series approval date | Feb. 1, 2016 | |
Series maximum amount | $ 5,678,000 | |
Maturity date | Aug. 1, 2023 | |
T8 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 4 | |
T8 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 6 | |
T14 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 9,000,000 | |
Term | 8 | |
Issuance rate | 2,80% | |
Series approval date | Feb. 1, 2016 | |
Series maximum amount | $ 18,000,000 | |
Maturity date | Feb. 1, 2027 | |
T6 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 5,000,000 | |
Term | 10 | |
Issuance rate | 1,70% | |
Series approval date | Nov. 1, 2018 | |
Series maximum amount | $ 5,000,000 | |
Maturity date | May 1, 2029 | |
T10 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 5,000,000 | |
Issuance rate | 2,60% | |
Series approval date | Feb. 1, 2016 | |
Series maximum amount | $ 5,000,000 | |
Maturity date | Aug. 1, 2024 | |
T10 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 5 | |
T10 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 4 | |
UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 29,678,000 | |
Series maximum amount | 38,678,000 | |
U9 [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 75,000,000,000 | |
Issuance rate | ICP + 0,80% yearly | |
Series approval date | Nov. 1, 2018 | |
Series maximum amount | $ 75,000,000,000 | |
Maturity date | Nov. 19, 2021 | |
U9 [Member] | Minimum [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 2 | |
U9 [Member] | Maximum [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 8 | |
P5 [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 75,000,000,000 | |
Issuance rate | 5,3% yearly | |
Series approval date | Mar. 1, 2015 | |
Series maximum amount | $ 150,000,000,000 | |
Maturity date | Mar. 1, 2022 | |
P5 [Member] | Minimum [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 2 | |
P5 [Member] | Maximum [Member] | CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 7 | |
CLP | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 150,000,000,000 | |
Series maximum amount | 225,000,000,000 | |
Senior Bonds EUR [Member] | EUR | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 30,000,000 | |
Term | 7 | |
Issuance rate | 1,10% | |
Series approval date | Feb. 1, 2019 | |
Series maximum amount | $ 40,000,000 | |
Maturity date | Feb. 7, 2026 | |
SantanderBondsEUR1Member | EUR | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 25,000,000 | |
Term | 5 | |
Issuance rate | 1,25% | |
Series approval date | Nov. 26, 2019 | |
Series maximum amount | $ 25,000,000 | |
Maturity date | Nov. 26, 2034 | |
EUR | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 55,000,000 | |
Series maximum amount | 65,000,000 | |
Senior Bonds Related To AUD [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 22,000,000 | |
Term | 15 | |
Issuance rate | 3,66% yearly | |
Series approval date | May 20, 2019 | |
Series maximum amount | $ 22,000,000 | |
Maturity date | May 20, 2034 | |
Senior Bonds Related To AUD1 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 20,000,000 | |
Term | 5 | |
Issuance rate | 1,13% yearly | |
Series approval date | Jul. 11, 2019 | |
Series maximum amount | $ 20,000,000 | |
Maturity date | Jul. 11, 2024 | |
Senior Bonds Related To AUD2 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 28,000,000 | |
Term | 5 | |
Issuance rate | 1,13% yearly | |
Series approval date | Jul. 17, 2019 | |
Series maximum amount | $ 28,000,000 | |
Maturity date | Jul. 17, 2024 | |
Senior Bonds Related To AUD3 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 15,000,000 | |
Term | 5 | |
Issuance rate | 1,13% yearly | |
Series approval date | Jul. 17, 2019 | |
Series maximum amount | $ 15,000,000 | |
Maturity date | Jul. 17, 2024 | |
Senior Bonds Related To AUD4 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 75,000,000 | |
Term | 20 | |
Issuance rate | 3,05% yearly | |
Series approval date | Aug. 30, 2019 | |
Series maximum amount | $ 75,000,000 | |
Maturity date | Feb. 28, 2039 | |
Senior Bonds Related To AUD5 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 12,000,000 | |
Term | 5 | |
Issuance rate | 3,16% yearly | |
Series approval date | Nov. 12, 2019 | |
Series maximum amount | $ 12,000,000 | |
Maturity date | Nov. 20, 2034 | |
Senior Bonds Related To AUD6 [Member] | AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 13,000,000 | |
Term | 5 | |
Issuance rate | 2,91% yearly | |
Series approval date | Nov. 21, 2019 | |
Series maximum amount | $ 13,000,000 | |
Maturity date | Nov. 27, 2034 | |
AUD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 185,000,000 | |
Series maximum amount | 185,000,000 | |
Santander Bonds CHF [Member] | CHF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 150,000,000 | |
Issuance rate | 0,38% yearly | |
Series approval date | Mar. 12, 2019 | |
Series maximum amount | $ 150,000,000 | |
Maturity date | Sep. 27, 2024 | |
Santander Bonds CHF [Member] | Minimum [Member] | CHF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 5 | |
Santander Bonds CHF [Member] | Maximum [Member] | CHF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 6 | |
Santander Bonds CHF1 [Member] | CHF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 100,000,000 | |
Term | 10 | |
Issuance rate | 0,14% yearly | |
Series approval date | Aug. 29, 2019 | |
Series maximum amount | $ 100,000,000 | |
Maturity date | Aug. 29, 2029 | |
CHF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 250,000,000 | |
Series maximum amount | $ 250,000,000 | |
Bonos USD [Member] | USD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 200,000,000 | |
Term | 10 | |
Issuance rate | 3.79% | |
Series approval date | Jan. 21, 2020 | |
Series maximum amount | $ 200,000,000 | |
Maturity date | Jan. 21, 2030 | |
USD | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 200,000,000 | |
Series maximum amount | 200,000,000 | |
USTDH20914 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 3,000,000 | |
Issuance rate | 3.00% | |
Series approval date | Apr. 7, 2020 | |
Series maximum amount | $ 3,000,000 | |
Maturity date | Sep. 1, 2034 | |
USTDH20914 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 14 | |
USTDH20914 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 5 | |
USTDH30914 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 3,000,000 | |
Issuance rate | 3.15% | |
Series approval date | Apr. 7, 2020 | |
Series maximum amount | $ 3,000,000 | |
Maturity date | Sep. 1, 2039 | |
USTDH30914 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 19 | |
USTDH30914 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 5 | |
USTDW20320 [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 5,000,000 | |
Issuance rate | 3.50% | |
Series approval date | Jun. 19, 2020 | |
Series maximum amount | $ 5,000,000 | |
Maturity date | Sep. 1, 2035 | |
USTDW20320 [Member] | Minimum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 15 | |
USTDW20320 [Member] | Maximum [Member] | UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Term | 3 | |
UF | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of placement of senior bonds [Line Items] | ||
Amount | $ 11,000,000 | |
Series maximum amount | $ 11,000,000 |
Issued Debt Instruments and O_9
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase $ in Thousands | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
Senior Bonds [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-02-2020 |
Type | Senior |
Currency | UF |
Amount | $ 357,000,000 |
Senior Bonds 1 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-03-2020 |
Type | Senior |
Currency | UF |
Amount | $ 300,000,000 |
Senior Bonds 2 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 60,000,000 |
Senior Bonds 3 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 27,000,000 |
Senior Bonds 4 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-13-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 50,000,000,000 |
Senior Bonds 5 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-14-2020 |
Type | Senior |
Currency | UF |
Amount | $ 109,000,000 |
Senior Bonds 6 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-14-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 9,820,000,000,000 |
Senior Bonds 7 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-14-2020 |
Type | Senior |
Currency | UF |
Amount | $ 131,000,000 |
Senior Bonds 8 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-14-2020 |
Type | Senior |
Currency | UF |
Amount | $ 322,000,000 |
Senior Bonds 9 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-15-2020 |
Type | Senior |
Currency | USD |
Amount | $ 2,490,000,000 |
Senior Bonds 10 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-15-2020 |
Type | Senior |
Currency | UF |
Amount | $ 47,000,000 |
Senior Bonds 11 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-16-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 400,000,000,000 |
Senior Bonds 12 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-16-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 13 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-17-2020 |
Type | Senior |
Currency | UF |
Amount | $ 28,000,000 |
Senior Bonds 14 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-20-2020 |
Type | Senior |
Currency | UF |
Amount | $ 74,000,000 |
Senior Bonds 15 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 171,000,000 |
Senior Bonds 16 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 181,000,000 |
Senior Bonds 17 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-21-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 330,000,000,000 |
Senior Bonds 18 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-22-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 11,430,000,000,000 |
Senior Bonds 19 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-24-2020 |
Type | Senior |
Currency | UF |
Amount | $ 2,000,000 |
Senior Bonds 20 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-29-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 21 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-29-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 120,000,000,000 |
Senior Bonds 22 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-30-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 10,000,000,000 |
Senior Bonds 23 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 01-31-2020 |
Type | Senior |
Currency | UF |
Amount | $ 40,000,000 |
Senior Bonds 24 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-06-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 6,000,000,000,000 |
Senior Bonds 25 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-07-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 1,180,000,000,000 |
Senior Bonds 26 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-11-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 7,430,000,000,000 |
Senior Bonds 27 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-12-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 2,520,000,000,000 |
Senior Bonds 28 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-13-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 10,000,000,000,000 |
Senior Bonds 29 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-17-2020 |
Type | Senior |
Currency | UF |
Amount | $ 2,000,000 |
Senior Bonds 30 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-17-2020 |
Type | Senior |
Currency | UF |
Amount | $ 15,000,000 |
Senior Bonds 31 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-18-2020 |
Type | Senior |
Currency | UF |
Amount | $ 50,000,000 |
Senior Bonds 32 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-18-2020 |
Type | Senior |
Currency | UF |
Amount | $ 4,000,000 |
Senior Bonds 33 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-20-2020 |
Type | Senior |
Currency | UF |
Amount | $ 350,000,000 |
Senior Bonds 34 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-20-2020 |
Type | Senior |
Currency | UF |
Amount | $ 115,000,000 |
Senior Bonds 35 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 57,000,000 |
Senior Bonds 36 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 24,000,000 |
Senior Bonds 37 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-24-2020 |
Type | Senior |
Currency | UF |
Amount | $ 250,000,000 |
Senior Bonds 38 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-24-2020 |
Type | Senior |
Currency | UF |
Amount | $ 10,000,000 |
Senior Bonds 39 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-26-2020 |
Type | Senior |
Currency | UF |
Amount | $ 169,000,000 |
Senior Bonds 40 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-26-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 41 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-27-2020 |
Type | Senior |
Currency | UF |
Amount | $ 180,000,000 |
Senior Bonds 42 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-27-2020 |
Type | Senior |
Currency | UF |
Amount | $ 11,000,000 |
Senior Bonds 43 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-27-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 44 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-02-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000 |
Senior Bonds 45 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-05-2020 |
Type | Senior |
Currency | UF |
Amount | $ 2,000 |
Senior Bonds 46 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 261,000 |
Senior Bonds 47 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 150,000 |
Senior Bonds 48 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-11-2020 |
Type | Senior |
Currency | UF |
Amount | $ 2,000 |
Senior Bonds 49 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-17-2020 |
Type | Senior |
Currency | UF |
Amount | $ 850,000 |
Senior Bonds 50 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-18-2020 |
Type | Senior |
Currency | UF |
Amount | $ 150,000 |
Senior Bonds 51 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-19-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 52 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-23-2020 |
Type | Senior |
Currency | UF |
Amount | $ 95,000 |
Senior Bonds 53 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-23-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 54 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-24-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 55 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-30-2020 |
Type | Senior |
Currency | UF |
Amount | $ 62,000 |
Senior Bonds 56 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-31-2020 |
Type | Senior |
Currency | UF |
Amount | $ 360,000 |
Senior Bonds 57 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-31-2020 |
Type | Senior |
Currency | UF |
Amount | $ 5,000 |
Senior Bonds 58 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-01-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 59 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-02-2020 |
Type | Senior |
Currency | UF |
Senior Bonds 60 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-02-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 61 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-03-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 62 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-03-2020 |
Type | Senior |
Currency | UF |
Amount | $ 27,000 |
Senior Bonds 63 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-06-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 64 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-06-2020 |
Type | Senior |
Currency | UF |
Amount | $ 157,000 |
Senior Bonds 65 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-06-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 66 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-07-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 67 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-07-2020 |
Type | Senior |
Currency | UF |
Senior Bonds 68 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-07-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 69 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-08-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 70 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-13-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 71 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-14-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 72 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-17-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 74 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 05-05-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 75 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 05-14-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 76 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-02-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 77 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-03-2020 |
Type | Senior |
Currency | UF |
Amount | $ 100,000 |
Senior Bonds 78 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-03-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 79 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-05-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 80 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-08-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 81 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-12-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 82 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-16-2020 |
Type | Senior |
Currency | CHF |
Senior Bonds 83 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-17-2020 |
Type | Senior |
Currency | CHF |
Senior Bonds 84 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-19-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 85 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-22-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 86 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-26-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 87 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-02-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 88 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-10-2020 |
Type | Senior |
Currency | CHF |
Senior Bonds 89 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-10-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 90 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-15-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 91 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-17-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000 |
Senior Bonds 92 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 07-17-2020 |
Type | Senior |
Currency | CLP |
Senior Bonds 93 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-13-2020 |
Type | Senior |
Currency | UF |
Amount | $ 345,000 |
Senior Bonds 94 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-14-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 95 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 100,000 |
Senior Bonds 96 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-21-2020 |
Type | Senior |
Currency | UF |
Amount | $ 77,000 |
Senior Bonds 97 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-24-2020 |
Type | Senior |
Currency | UF |
Amount | $ 11,000 |
Senior Bonds 98 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 08-25-2020 |
Type | Senior |
Currency | UF |
Amount | $ 14,000 |
Senior Bonds 99 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 24,000 |
Senior Bonds 100 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 70,000 |
Senior Bonds 101 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-09-2020 |
Type | Senior |
Currency | UF |
Amount | $ 45,000 |
Senior Bonds 102 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-10-2020 |
Type | Senior |
Currency | UF |
Amount | $ 210,000 |
Senior Bonds 103 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-23-2020 |
Type | Senior |
Currency | USD |
Senior Bonds 104 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-28-2020 |
Type | Senior |
Currency | UF |
Amount | $ 50,000 |
Senior Bonds 105 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-29-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000 |
Senior Bonds 106 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 09-30-2020 |
Type | Senior |
Currency | UF |
Amount | $ 43,000 |
Senior Bonds 107 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-01-2020 |
Type | Senior |
Currency | UF |
Amount | $ 4,000,000 |
Senior Bonds 108 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-06-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 109 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-06-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 110 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-06-2020 |
Type | Senior |
Currency | CLP |
Amount | $ 50,000,000,000 |
Senior Bonds 111 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-06-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 112 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-06-2020 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 113 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-15-2020 |
Type | Senior |
Currency | UF |
Amount | $ 2,000,000 |
Senior Bonds 114 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-20-2020 |
Type | Senior |
Currency | CHF |
Amount | $ 2,000,000,000 |
Senior Bonds 115 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-01-2020 |
Type | Senior |
Currency | USD |
Amount | $ 5,153,000,000 |
Senior Bonds 116 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-19-2020 |
Type | Senior |
Currency | USD |
Amount | $ 20,000,000,000 |
Senior Bonds 117 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-16-2020 |
Type | Senior |
Currency | USD |
Amount | $ 1,000,000,000 |
Senior Bonds 118 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-18-2020 |
Type | Senior |
Currency | USD |
Amount | $ 10,000,000,000 |
Senior Bonds 119 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-15-2020 |
Type | Senior |
Currency | USD |
Amount | $ 477,510,000,000 |
Senior Bonds 120 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-12-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 10,000,000,000,000 |
Senior Bonds 121 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-14-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 30,000,000,000,000 |
Senior Bonds 122 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-19-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 4,200,000,000,000 |
Senior Bonds 123 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-22-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 14,240,000,000,000 |
Senior Bonds 124 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-22-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 30,000,000,000 |
Senior Bonds 125 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 02-22-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 10,000,000,000 |
Senior Bonds 126 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-01-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 11,800,000,000,000 |
Senior Bonds 127 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-04-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 40,080,000,000,000 |
Senior Bonds 128 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-05-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 20,000,000,000,000 |
Senior Bonds 129 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-15-2019 |
Type | Senior |
Currency | UF |
Amount | $ 156,000,000 |
Senior Bonds 130 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-19-2019 |
Type | Senior |
Currency | UF |
Amount | $ 418,000,000 |
Senior Bonds 131 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-20-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 6,710,000,000,000 |
Senior Bonds 132 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-20-2019 |
Type | Senior |
Currency | UF |
Amount | $ 154,000,000 |
Senior Bonds 133 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-21-2019 |
Type | Senior |
Currency | UF |
Amount | $ 100,000,000 |
Senior Bonds 134 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-25-2019 |
Type | Senior |
Currency | UF |
Amount | $ 100,000,000 |
Senior Bonds 135 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 03-26-2019 |
Type | Senior |
Currency | UF |
Amount | $ 90,000,000 |
Senior Bonds 136 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-08-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 3,950,000,000,000 |
Senior Bonds 137 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-10-2019 |
Type | Senior |
Currency | UF |
Amount | $ 409,000,000 |
Senior Bonds 138 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-16-2019 |
Type | Senior |
Currency | UF |
Amount | $ 55,000,000 |
Senior Bonds 139 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-17-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 130,000,000,000 |
Senior Bonds 140 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 04-18-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 330,000,000,000 |
Senior Bonds 141 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 05-16-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 14,880,000,000,000 |
Senior Bonds 142 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 05-16-2019 |
Type | Senior |
Currency | UF |
Amount | $ 9,000,000 |
Senior Bonds 143 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 06-13-2019 |
Type | Senior |
Currency | UF |
Amount | $ 1,000,000 |
Senior Bonds 144 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-01-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 10,960,000,000,000 |
Senior Bonds 145 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-02-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 100,000,000,000 |
Senior Bonds 146 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 10-04-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 60,000,000,000 |
Senior Bonds 147 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-05-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 15,220,000,000,000 |
Senior Bonds 148 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-07-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 3,620,000,000,000 |
Senior Bonds 149 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-13-2019 |
Type | Senior |
Currency | CLP |
Amount | $ 5,320,000,000,000 |
Senior Bonds 150 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-14-2019 |
Type | Senior |
Currency | UF |
Amount | $ 2,977,000,000 |
Senior Bonds 151 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 11-28-2019 |
Type | Senior |
Currency | UF |
Amount | $ 340,000,000 |
Senior Bonds 152 [Member] | |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of partial repurchase [Line Items] | |
Issuance date | 12-02-2019 |
Type | Senior |
Currency | UF |
Amount | $ 105,000,000 |
Issued Debt Instruments and _10
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds - Senior Bonds [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | $ 6,749,989 | $ 8,574,213 |
Due within 1 year [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | 1,124,558 | 2,078,202 |
Due after 1 year but within 2 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | 1,047,241 | 1,147,825 |
Due after 2 year but within 3 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | 742,081 | 1,221,393 |
Due after 3 year but within 4 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | 1,228,524 | 742,238 |
Due after 4 year but within 5 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | 1,250,897 | 1,278,746 |
Due after 5 years [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of senior bonds [Line Items] | ||
Issued debt instruments | $ 1,356,688 | $ 2,105,809 |
Issued Debt Instruments and _11
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Mortgage bonds in UF [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency [Line Items] | ||
Issued debt instruments | $ 84,335 | $ 89,924 |
Total mortgage bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency [Line Items] | ||
Issued debt instruments | 84,335 | 89,924 |
Subordinated bonds denominated in USD [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency [Line Items] | ||
Issued debt instruments | 202,634 | |
Subordinated bonds denominated in UF [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency [Line Items] | ||
Issued debt instruments | 1,154,905 | 818,084 |
Total subordinated bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of mortgage bonds per currency [Line Items] | ||
Issued debt instruments | $ 1,357,539 | $ 818,084 |
Issued Debt Instruments and _12
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | $ 84,335 | $ 89,924 |
Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 1,357,539 | 818,084 |
Due within 1 year [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 5,465 | 5,137 |
Due within 1 year [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | ||
Due after 1 year but within 2 years [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 8,773 | 8,248 |
Due after 1 year but within 2 years [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | ||
Due after 2 year but within 3 years [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 9,056 | 8,514 |
Due after 2 year but within 3 years [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | ||
Due after 3 year but within 4 years [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 9,348 | 8,788 |
Due after 3 year but within 4 years [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | ||
Due after 4 year but within 5 years [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 9,649 | 9,072 |
Due after 4 year but within 5 years [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | ||
Due after 5 years [Member] | Mortgage Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | 42,044 | 50,165 |
Due after 5 years [Member] | Subordinated Bonds [Member] | ||
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of maturities of mortgage bond [Line Items] | ||
Issued debt instruments | $ 1,357,539 | $ 818,084 |
Issued Debt Instruments and _13
Issued Debt Instruments and Other Financial Liabilities (Details) - Schedule of other financial liabilities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current portion: | ||
Non-current portion subtotal | $ 290 | $ 325 |
Current portion: | ||
Amounts due to credit card operators | 134,790 | 151,984 |
Acceptance of letters of credit | 1,460 | 5,709 |
Other long-term financial obligations, short-term portion | 47,778 | 68,347 |
Current portion subtotal | 184,028 | 226,040 |
Total other financial liabilities | 184,318 | 226,358 |
Due After 1 Year But Within 2 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 42 | 41 |
Due After 2 Years But Within 3 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 47 | 44 |
Due After 3 Years But Within 4 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 50 | 48 |
Due After 4 Years But Within 5 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 55 | 53 |
Due After 5 Years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | $ 96 | $ 132 |
Maturity of Financial Assets _3
Maturity of Financial Assets and Liabilities (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Maturity Of Assets And Liabilities Explanatory [Abstract] | ||
Receivables at amortised cost, amount of allowance | $ 1,036,793 | $ 896,095 |
Receivables at fvoci, amount of allowance | $ 1,354 | $ 101 |
Maturity of Financial Assets _4
Maturity of Financial Assets and Liabilities (Details) - Schedule of assets and liabilities maturities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | ||
Financial liabilities | ||||
Total financial liabilities | $ 51,998,449 | $ 47,096,211 | ||
Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 14,560,893 | |||
Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 361,631 | 198,248 | ||
Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 969,808 | 380,055 | ||
Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 10,581,791 | 13,192,817 | ||
Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 9,018,660 | 7,390,654 | ||
Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 6,328,599 | 2,519,818 | ||
Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 8,204,177 | 9,500,723 | ||
Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 184,318 | 158,494 | ||
Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 149,585 | 226,358 | ||
Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 624,205 | 994,714 | ||
Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 50,983,667 | 44,859,313 | ||
Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 10,297,432 | |||
Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | 2,803,288 | 3,554,520 | ||
Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | 452,963 | 355,062 | ||
Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 133,718 | 270,204 | ||
Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 9,032,085 | 8,148,608 | ||
Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 34,339,893 | [1] | 32,671,515 | [2] |
Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 70,685 | [3] | 66,166 | [4] |
Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 7,162,542 | 4,010,272 | ||
Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 548 | 482 | ||
Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | 608,359 | 314,616 | ||
Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 54,604,081 | 49,391,445 | ||
Demand [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 14,560,893 | |||
Demand [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 361,631 | 198,248 | ||
Demand [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Demand [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 159,918 | 142,273 | ||
Demand [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Demand [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 16,832 | 94 | ||
Demand [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Demand [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 144,478 | |||
Demand [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 161,021 | |||
Demand [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 624,205 | 994,714 | ||
Demand [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 15,867,957 | 11,793,782 | ||
Demand [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 10,297,432 | |||
Demand [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | 2,803,288 | 3,554,520 | ||
Demand [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | 452,963 | 355,062 | ||
Demand [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Demand [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Demand [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Demand [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 170,214 | [1] | 296,461 | [2] |
Demand [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | [3] | [4] | ||
Demand [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Demand [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Demand [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | 608,359 | 314,616 | ||
Demand [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 4,034,824 | 4,520,659 | ||
Up to 1 month [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Up to 1 month [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Up to 1 month [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 969,808 | 380,055 | ||
Up to 1 month [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 5,843,682 | 5,184,567 | ||
Up to 1 month [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 386,690 | 422,749 | ||
Up to 1 month [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 238,414 | 363,560 | ||
Up to 1 month [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 344,732 | 285,159 | ||
Up to 1 month [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 38,148 | |||
Up to 1 month [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 5,155 | |||
Up to 1 month [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Up to 1 month [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 7,821,474 | 6,641,245 | ||
Up to 1 month [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Up to 1 month [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Up to 1 month [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Up to 1 month [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 680 | 38,644 | ||
Up to 1 month [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Up to 1 month [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 385,231 | 371,775 | ||
Up to 1 month [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 1,246,271 | [1] | 2,963,578 | [2] |
Up to 1 month [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | [3] | [4] | ||
Up to 1 month [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 1,006,983 | 1,131,500 | ||
Up to 1 month [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Up to 1 month [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Up to 1 month [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 2,639,165 | 4,505,497 | ||
Between 1 and 3 months [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 months [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 months [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 months [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 2,912,985 | 4,905,414 | ||
Between 1 and 3 months [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 445,376 | 427,825 | ||
Between 1 and 3 months [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 222,992 | 624,167 | ||
Between 1 and 3 months [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 447,117 | 759,519 | ||
Between 1 and 3 months [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,375 | |||
Between 1 and 3 months [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 30,969 | |||
Between 1 and 3 months [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 months [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 4,029,845 | 6,747,894 | ||
Between 1 and 3 months [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 months [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 months [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 months [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 2,630 | |||
Between 1 and 3 months [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 months [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 401,486 | 400,196 | ||
Between 1 and 3 months [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 1,443,659 | [1] | 2,400,909 | [2] |
Between 1 and 3 months [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | [3] | [4] | ||
Between 1 and 3 months [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 493 | 3,752 | ||
Between 1 and 3 months [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 months [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 months [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 1,848,268 | 2,804,857 | ||
Between 3 and 12 months [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 12 months [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 12 months [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 12 months [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,434,246 | 2,417,703 | ||
Between 3 and 12 months [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 931,358 | 951,684 | ||
Between 3 and 12 months [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 855,434 | 1,141,824 | ||
Between 3 and 12 months [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 343,156 | 1,044,674 | ||
Between 3 and 12 months [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 27 | 26,061 | ||
Between 3 and 12 months [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 25,526 | 28,888 | ||
Between 3 and 12 months [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 12 months [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 3,589,747 | 5,610,834 | ||
Between 3 and 12 months [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 12 months [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 12 months [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 12 months [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 499 | 645 | ||
Between 3 and 12 months [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 12 months [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 795,881 | 1,543,446 | ||
Between 3 and 12 months [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 3,664,841 | [1] | 5,511,374 | [2] |
Between 3 and 12 months [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 5,405 | [3] | 5,953 | [4] |
Between 3 and 12 months [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 188,977 | 52,130 | ||
Between 3 and 12 months [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 12 months [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 12 months [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 4,655,603 | 7,113,548 | ||
Subtotal up to 1 year [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 14,560,893 | |||
Subtotal up to 1 year [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 361,631 | 198,248 | ||
Subtotal up to 1 year [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 969,808 | 380,055 | ||
Subtotal up to 1 year [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 10,350,831 | 12,649,957 | ||
Subtotal up to 1 year [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,763,424 | 1,802,258 | ||
Subtotal up to 1 year [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,333,672 | 2,129,645 | ||
Subtotal up to 1 year [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,135,005 | 2,089,352 | ||
Subtotal up to 1 year [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 184,028 | 26,061 | ||
Subtotal up to 1 year [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 25,526 | 226,033 | ||
Subtotal up to 1 year [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 624,205 | 994,714 | ||
Subtotal up to 1 year [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 31,309,023 | 30,793,755 | ||
Subtotal up to 1 year [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 10,297,432 | |||
Subtotal up to 1 year [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | 2,803,288 | 3,554,520 | ||
Subtotal up to 1 year [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | 452,963 | 355,062 | ||
Subtotal up to 1 year [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 3,809 | 39,289 | ||
Subtotal up to 1 year [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal up to 1 year [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 1,582,598 | 2,315,417 | ||
Subtotal up to 1 year [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 6,524,985 | [1] | 11,172,322 | [2] |
Subtotal up to 1 year [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 5,405 | [3] | 5,953 | [4] |
Subtotal up to 1 year [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 1,196,453 | 1,187,382 | ||
Subtotal up to 1 year [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal up to 1 year [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | 608,359 | 314,616 | ||
Subtotal up to 1 year [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 13,177,860 | 18,944,561 | ||
Between 1 and 3 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 years [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 years [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 years [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 163,053 | 357,856 | ||
Between 1 and 3 years [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,552,482 | 1,253,280 | ||
Between 1 and 3 years [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,140,426 | 387,936 | ||
Between 1 and 3 years [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,813,341 | 2,394,850 | ||
Between 1 and 3 years [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 89 | 45,978 | ||
Between 1 and 3 years [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 44,933 | 83 | ||
Between 1 and 3 years [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 years [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 4,714,324 | 4,439,983 | ||
Between 1 and 3 years [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 1 and 3 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 years [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 years [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 633 | 181,705 | ||
Between 1 and 3 years [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 years [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 1,723,334 | 1,383,493 | ||
Between 1 and 3 years [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 3,659,994 | [1] | 5,706,433 | [2] |
Between 1 and 3 years [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | [3] | [4] | ||
Between 1 and 3 years [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 205,150 | 508,596 | ||
Between 1 and 3 years [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 years [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Between 1 and 3 years [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 5,589,111 | 7,780,227 | ||
Between 3 and 5 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 5 years [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 5 years [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 5 years [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 44,384 | 163,121 | ||
Between 3 and 5 years [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 1,708,509 | 1,180,948 | ||
Between 3 and 5 years [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 3,854,501 | 2,237 | ||
Between 3 and 5 years [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 2,499,560 | 2,042,292 | ||
Between 3 and 5 years [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 105 | 36,393 | ||
Between 3 and 5 years [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 35,679 | 99 | ||
Between 3 and 5 years [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 5 years [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 8,142,738 | 3,425,090 | ||
Between 3 and 5 years [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Between 3 and 5 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 5 years [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 5 years [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 18,257 | 37,659 | ||
Between 3 and 5 years [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 5 years [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 1,692,142 | 1,346,329 | ||
Between 3 and 5 years [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 293,785 | [1] | 4,093,147 | [2] |
Between 3 and 5 years [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 16,243 | [3] | [4] | |
Between 3 and 5 years [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 2,378,752 | 725,419 | ||
Between 3 and 5 years [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 5 years [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Between 3 and 5 years [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 4,399,179 | 6,202,554 | ||
More than 5 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
More than 5 years [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
More than 5 years [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
More than 5 years [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 23,523 | 21,883 | ||
More than 5 years [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 3,994,245 | 3,154,168 | ||
More than 5 years [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 2,756,271 | 2,974,229 | ||
More than 5 years [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 96 | 50,062 | ||
More than 5 years [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 43,447 | 143 | ||
More than 5 years [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
More than 5 years [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 6,817,582 | 6,200,485 | ||
More than 5 years [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
More than 5 years [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
More than 5 years [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
More than 5 years [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 111,019 | 11,551 | ||
More than 5 years [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
More than 5 years [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 4,034,011 | 3,103,369 | ||
More than 5 years [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 23,861,129 | [1] | 11,699,613 | [2] |
More than 5 years [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 49,037 | [3] | 60,213 | [4] |
More than 5 years [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 3,382,187 | 1,588,875 | ||
More than 5 years [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 548 | 482 | ||
More than 5 years [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
More than 5 years [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | 31,437,931 | 16,464,103 | ||
Subtotal More than 1 year [Member] | Cash And Deposits In Banks [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Subtotal More than 1 year [Member] | Cash items in process of being cleared [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Subtotal More than 1 year [Member] | Obligations under repurchase agreements [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Subtotal More than 1 year [Member] | Time deposits and other time liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 230,960 | 542,860 | ||
Subtotal More than 1 year [Member] | Financial derivative contracts [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 7,255,236 | 5,588,396 | ||
Subtotal More than 1 year [Member] | Interbank Borrowings [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 4,994,927 | 390,173 | ||
Subtotal More than 1 year [Member] | Issued debt instruments [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 7,069,172 | 7,411,371 | ||
Subtotal More than 1 year [Member] | Lease liabilities [member] | ||||
Financial liabilities | ||||
Total financial liabilities | 290 | 132,433 | ||
Subtotal More than 1 year [Member] | Other financial liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 124,059 | 325 | ||
Subtotal More than 1 year [Member] | Guarantees received (margin accounts) [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Subtotal More than 1 year [Member] | Financial Liabilitie [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | 19,674,644 | 14,065,558 | ||
Subtotal More than 1 year [Member] | Deposits and other demand liabilities [Member] | ||||
Financial liabilities | ||||
Total financial liabilities | ||||
Subtotal More than 1 year [Member] | Cash And Deposits In Banks [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal More than 1 year [Member] | Cash Items In Process Of Collection [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal More than 1 year [Member] | Financial assets held for trading [Member] | ||||
Financial assets | ||||
Total financial assets | 129,909 | 230,915 | ||
Subtotal More than 1 year [Member] | Investments Under Resale Agreements [Member] | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal More than 1 year [Member] | Financial derivative contracts [Member] | ||||
Financial assets | ||||
Total financial assets | 7,449,487 | 5,833,191 | ||
Subtotal More than 1 year [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||||
Financial assets | ||||
Total financial assets | 27,814,908 | [1] | 21,499,193 | [2] |
Subtotal More than 1 year [Member] | Loans and account receivable at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 65,280 | [3] | 60,213 | [4] |
Subtotal More than 1 year [Member] | Debt instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 5,966,089 | 2,822,890 | ||
Subtotal More than 1 year [Member] | Equity instruments at FVOCI [Member] | ||||
Financial assets | ||||
Total financial assets | 548 | 482 | ||
Subtotal More than 1 year [Member] | Guarantee deposits (margin accounts) | ||||
Financial assets | ||||
Total financial assets | ||||
Subtotal More than 1 year [Member] | Financial Asset [Member] | ||||
Financial assets | ||||
Total financial assets | $ 41,426,221 | $ 30,446,884 | ||
[1] | Loans and accounts receivables at amortized cost are presented on a gross basis, the amount of allowance is Ch$1,036,793 million. | |||
[2] | Loans and accounts receivables at amortized cost are presented on a gross basis, the amount of allowance is Ch$ 896,095 million. | |||
[3] | Loans and accounts receivables at FVOCI are presented on a gross basis, the amount of allowance is Ch$1,354 million. | |||
[4] | Loans and accounts receivables at FVOCI are presented on a gross basis, the amount of allowance is Ch$101 million. |
Provisions and Contingent Pro_3
Provisions and Contingent Provisions (Details) - Schedule of composition provisions - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of composition provisions [Abstract] | ||||
Provisions for personnel salaries and expenses | $ 104,270 | $ 101,223 | ||
Provisions for mandatory dividends | 164,284 | 185,727 | ||
Provisions for contingent loan | 28,247 | 23,240 | ||
Provision for contingencies | 33,863 | 15,940 | ||
Total | $ 330,664 | $ 326,130 | $ 305,271 | $ 303,798 |
Provisions and Contingent Pro_4
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision [Line Items] | |||
Balance at beginning | $ 326,130 | $ 305,271 | $ 303,798 |
Provisions established | 280,615 | 308,295 | 298,399 |
Application of provisions | (71,481) | (70,540) | (77,406) |
Provisions released | (204,602) | (217,361) | (210,581) |
Reclassifications | |||
Other | 2 | 465 | (8,939) |
Balance at end | 330,664 | 326,130 | 305,271 |
Personnel salaries and expenses [Member] | |||
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision [Line Items] | |||
Balance at beginning | 101,223 | 93,379 | 97,576 |
Provisions established | 76,281 | 78,316 | 80,912 |
Application of provisions | (71,481) | (70,385) | (72,975) |
Provisions released | (1,755) | (552) | (3,195) |
Reclassifications | |||
Other | 2 | 465 | (8,939) |
Balance at end | 104,270 | 101,223 | 93,379 |
Mandatory Dividend [Member] | |||
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision [Line Items] | |||
Balance at beginning | 185,727 | 178,600 | 168,840 |
Provisions established | 164,284 | 185,727 | 178,600 |
Application of provisions | |||
Provisions released | (185,727) | (178,600) | (168,840) |
Reclassifications | |||
Other | |||
Balance at end | 164,284 | 185,727 | 178,600 |
Contingent loan risk [Member] | |||
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision [Line Items] | |||
Balance at beginning | 23,240 | 23,709 | 9,480 |
Provisions established | 14,683 | 15,879 | 19,240 |
Application of provisions | |||
Provisions released | (9,676) | (16,348) | (5,011) |
Reclassifications | |||
Other | |||
Balance at end | 28,247 | 23,240 | 23,709 |
Contingencies [Member] | |||
Provisions and Contingent Provisions (Details) - Schedule of activity regarding provision [Line Items] | |||
Balance at beginning | 15,940 | 9,583 | 27,902 |
Provisions established | 25,367 | 28,373 | 19,647 |
Application of provisions | (155) | (4,431) | |
Provisions released | (7,444) | (21,861) | (33,535) |
Reclassifications | |||
Other | |||
Balance at end | $ 33,863 | $ 15,940 | $ 9,583 |
Provisions and Contingent Pro_5
Provisions and Contingent Provisions (Details) - Schedule of provisions for personnel salaries and expenses - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of provisions for personnel salaries and expenses [Abstract] | ||
Provision for seniority compensation | $ 6,658 | $ 6,797 |
Provision for stock-based personnel benefits | ||
Provision for performance bonus | 65,786 | 68,595 |
Provision for vacations | 29,307 | 23,864 |
Provision for other personnel benefits | 2,519 | 1,967 |
Total | $ 104,270 | $ 101,223 |
Provisions and Contingent Pro_6
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | $ 23,240 | $ 23,709 |
Transfer | ||
Transfers to stage 2 | 10,340 | 582 |
Transfers to stage 3 | 2,764 | 4,639 |
Transfers to stage 3 | 4,338 | 2,864 |
Transfers to stage 1 | (6,717) | (387) |
Transfers to stage 2 | (1,700) | (1,264) |
Transfers to stage 1 | (430) | (1,363) |
Net changes on financial assets | (2,853) | (5,471) |
Write-off | ||
Foreign Exchange adjustments and others | (735) | (137) |
ECL allowance, ending balance | 28,247 | 23,240 |
Individual [Member] | Stage 1 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 1,509 | 1,081 |
Transfer | ||
Transfers to stage 2 | (1,273) | (100) |
Transfers to stage 3 | ||
Transfers to stage 3 | ||
Transfers to stage 1 | 165 | 46 |
Transfers to stage 2 | ||
Transfers to stage 1 | ||
Net changes on financial assets | 2,279 | 491 |
Write-off | ||
Foreign Exchange adjustments and others | 135 | (9) |
ECL allowance, ending balance | 2,815 | 1,509 |
Individual [Member] | Stage 2 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 226 | 259 |
Transfer | ||
Transfers to stage 2 | 1,785 | 122 |
Transfers to stage 3 | ||
Transfers to stage 3 | (73) | (24) |
Transfers to stage 1 | (295) | (82) |
Transfers to stage 2 | ||
Transfers to stage 1 | ||
Net changes on financial assets | 126 | (41) |
Write-off | ||
Foreign Exchange adjustments and others | (6) | (8) |
ECL allowance, ending balance | 1,762 | 226 |
Individual [Member] | Stage 3 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 3,487 | 3,856 |
Transfer | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 83 | 167 |
Transfers to stage 3 | 2,839 | 1,742 |
Transfers to stage 1 | ||
Transfers to stage 2 | (6) | (54) |
Transfers to stage 1 | (130) | |
Net changes on financial assets | (2,995) | (2,100) |
Write-off | ||
Foreign Exchange adjustments and others | (170) | 6 |
ECL allowance, ending balance | 3,238 | 3,487 |
Collective [Member] | Stage 1 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 13,127 | 15,070 |
Transfer | ||
Transfers to stage 2 | (3,614) | (318) |
Transfers to stage 3 | (76) | (203) |
Transfers to stage 3 | ||
Transfers to stage 1 | 2,687 | 122 |
Transfers to stage 2 | ||
Transfers to stage 1 | 14 | 45 |
Net changes on financial assets | (200) | (1,474) |
Write-off | ||
Foreign Exchange adjustments and others | (928) | (115) |
ECL allowance, ending balance | 11,010 | 13,127 |
Collective [Member] | Stage 2 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 542 | 172 |
Transfer | ||
Transfers to stage 2 | 13,442 | 878 |
Transfers to stage 3 | ||
Transfers to stage 3 | (148) | (144) |
Transfers to stage 1 | (9,274) | (473) |
Transfers to stage 2 | 240 | 234 |
Transfers to stage 1 | ||
Net changes on financial assets | (315) | (106) |
Write-off | ||
Foreign Exchange adjustments and others | 65 | (19) |
ECL allowance, ending balance | 4,552 | 542 |
Collective [Member] | Stage 3 [Member] | ||
Provisions and Contingent Provisions (Details) - Schedule of provisions for contingent loan risk [Line Items] | ||
ECL allowance, beginning balance | 4,349 | 3,271 |
Transfer | ||
Transfers to stage 2 | ||
Transfers to stage 3 | 2,757 | 4,675 |
Transfers to stage 3 | 1,720 | 1,290 |
Transfers to stage 1 | ||
Transfers to stage 2 | (1,934) | (1,444) |
Transfers to stage 1 | (444) | (1,278) |
Net changes on financial assets | (1,748) | 2,173 |
Write-off | ||
Foreign Exchange adjustments and others | 169 | 8 |
ECL allowance, ending balance | $ 4,869 | $ 4,349 |
Other Liabilities (Details) - S
Other Liabilities (Details) - Schedule of other liabilities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of other liabilities [Abstract] | |||
Accounts and notes payable | $ 227,518 | $ 214,216 | |
Income received in advance | 828 | 640 | |
Macro-hedge valuation adjustment | 51,089 | ||
Guarantees received (margin accounts) | [1] | 624,205 | 994,714 |
Notes payable through brokerage and simultaneous transactions | [2] | 12,504 | 1,418,340 |
Other payable obligations | [3] | 139,622 | 61,555 |
Withholding VAT | 14,129 | 8,147 | |
Accounts payable insurance companies | 13,911 | 9,510 | |
Other liabilities | 82,047 | 99,203 | |
Total | $ 1,165,853 | $ 2,806,325 | |
[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 between Latam and Delta, which was payed to 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 | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Contingencies and Commitments (Details) [Line Items] | ||
Estimated financial effect of contingent liabilities | $ 1,351,997 | $ 1,592,810 |
Legal proceedings contingent liability [member] | ||
Contingencies and Commitments (Details) [Line Items] | ||
Estimated financial effect of contingent liabilities | $ 1,024 | |
Legal proceedings contingent liability [member] | Subsidiaries [member] | ||
Contingencies and Commitments (Details) [Line Items] | ||
Estimated financial effect of contingent liabilities | $ 1,274 | |
Guarantees [member] | USD [Member] | Non-adjusting events after reporting period [member] | ||
Contingencies and Commitments (Details) [Line Items] | ||
Integral bank policy of coverage of official loyalty | 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 USD50,000,000 per claim with an annual limit of USD100,000,000, which covers both the Bank and its subsidiaries, with an expiration date of June 30, 2021, which has been renewed. |
Contingencies and Commitments_3
Contingencies and Commitments (Details) - Schedule of contractual obligations - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of contractual obligations [Abstract] | ||
Letters of credit issued | $ 165,119 | $ 140,572 |
Foreign letters of credit confirmed | 82,779 | 70,192 |
Performance guarantee | 1,090,643 | 1,929,894 |
Personal guarantees | 441,508 | 451,950 |
Total contingent liabilities | 1,780,049 | 2,592,608 |
Available on demand credit lines | 8,391,414 | 8,732,422 |
Other irrevocable credit commitments | 406,234 | 485,991 |
Total loan commitment | 8,797,648 | 9,218,413 |
Total | $ 10,577,697 | $ 11,811,021 |
Contingencies and Commitments_4
Contingencies and Commitments (Details) - Schedule of held securities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Third party operations | ||
Collections | $ 83,392 | $ 90,966 |
Transferred financial assets managed by the Bank | 18,017 | 21,507 |
Assets from third parties managed by the Bank and its affiliates | 1,352,032 | 1,592,845 |
Subtotal | 1,453,441 | 1,705,318 |
Custody of securities | ||
Securities held in custody | 11,022,790 | 9,731,894 |
Securities held in custody deposited in other entity | 808,186 | 1,206,541 |
Issued securities held in custody | 10,461,847 | 21,636,819 |
Subtotal | 22,292,823 | 32,575,254 |
Total | $ 23,746,264 | $ 34,280,572 |
Equity (Details)
Equity (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of share capital, reserves and other equity interest [text block] [Abstract] | ||||
Shares outstanding (in Shares) | 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 | $ 220,838 | $ 236,761 | $ 141,204 |
Equity (Details) - Schedule of
Equity (Details) - Schedule of activity shares - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of activity shares [Abstract] | |||
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) - Schedule o_2
Equity (Details) - Schedule of shareholder composition - shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 165,995,455,123 | 163,624,085,523 | 161,960,126,723 | ||
American Depository Receipts (ADRs) | [1] | 22,450,671,671 | 24,822,041,271 | 26,486,000,071 | |
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] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 66,822,519,695 | 66,822,519,695 | 66,822,519,695 | ||
American Depository Receipts (ADRs) | [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] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 59,770,481,573 | 59,770,481,573 | 59,770,481,573 | ||
American Depository Receipts (ADRs) | [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] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | |||||
American Depository Receipts (ADRs) | [1] | 22,450,671,671 | 24,822,041,271 | 26,486,000,071 | |
Total | 22,450,671,671 | 24,822,041,271 | 26,486,000,071 | ||
Percentage of equity holding | 11.91% | 13.17% | 14.05% | ||
Banks On Behalf Of Third Parties [Member] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 15,925,407,468 | 15,957,137,883 | 15,770,481,573 | ||
American Depository Receipts (ADRs) | [1] | ||||
Total | 15,925,407,468 | 15,957,137,883 | 15,770,481,573 | ||
Percentage of equity holding | 8.45% | 8.47% | 8.20% | ||
Pension Funds (AFP) On Behalf Of Third Parties [Member] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 9,929,343,874 | 9,995,705,956 | 9,033,172,896 | ||
American Depository Receipts (ADRs) | [1] | ||||
Total | 9,929,343,874 | 9,995,705,956 | 9,033,172,896 | ||
Percentage of equity holding | 5.27% | 5.30% | 4.79% | ||
Stock Brokers On Behalf Of Third Parties [Member] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 6,892,162,980 | 5,551,024,270 | 4,773,558,507 | ||
American Depository Receipts (ADRs) | [1] | ||||
Total | 6,892,162,980 | 5,551,024,270 | 4,773,558,507 | ||
Percentage of equity holding | 3.66% | 2.95% | 2.53% | ||
Other Minority Holders [Member] | |||||
Equity (Details) - Schedule of shareholder composition [Line Items] | |||||
Shares | 6,655,539,533 | 5,527,216,146 | 6,109,287,067 | ||
American Depository Receipts (ADRs) | [1] | ||||
Total | 6,655,539,533 | 5,527,216,146 | 6,109,287,067 | ||
Percentage of equity holding | 3.53% | 2.93% | 3.25% | ||
[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) - Schedule o_3
Equity (Details) - Schedule of basic and diluted earnings per share $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020CLP ($)$ / sharesshares | Dec. 31, 2020$MN / shares | Dec. 31, 2019CLP ($)$ / sharesshares | Dec. 31, 2019$MN / shares | Dec. 31, 2018CLP ($)$ / sharesshares | Dec. 31, 2018$MN / shares | |
a) Basic earnings per share | ||||||
Total attributable to the shareholders of the Bank (in Pesos) | $ | $ 547,614 | $ 619,091 | $ 595,333 | |||
Weighted average number of outstanding shares (in Shares) | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |||
Basic earnings per share (in Ch$) | (per share) | $ 2.906 | $MN 2.906 | $ 3.285 | $MN 3.285 | $ 3.159 | $MN 3.159 |
Basic earnings per share from continuing operations (in Ch$) | (per share) | $ 2.906 | 2.906 | 3.276 | 3.276 | 3.139 | 3.139 |
Basic earnings per share from discontinued operations (in Ch$) | (per share) | $ 0.009 | 0.009 | $ 0.020 | 0.020 | ||
b) Diluted earnings per share | ||||||
Total attributable to the shareholders of the Bank (in Pesos) | $ | $ 547,614 | $ 619,091 | $ 595,333 | |||
Weighted average number of outstanding shares (in Shares) | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |||
Adjusted number of shares (in Shares) | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |||
Diluted earnings per share (in Ch$) | (per share) | $ 2.906 | 2.906 | $ 3.285 | 3.285 | $ 3.159 | 3.159 |
Diluted earnings per share from continuing operations (in Ch$) | (per share) | $ 2.906 | 2.906 | 3.276 | 3.276 | 3.139 | 3.139 |
Diluted earnings per share from discontinued operations (in Ch$) | (per share) | $ 0.009 | $MN 0.009 | $ 0.020 | $MN 0.020 |
Equity (Details) - Schedule o_4
Equity (Details) - Schedule of other comprehensive income from available for sale investments and cash flow hedges - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt instruments at FVOCI | |||
As of beginning of period | $ 29,184 | $ 6,962 | $ 1,855 |
Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax | 30,062 | (17,775) | 6,609 |
Recycling from other comprehensive income to income for the year | 43,609 | 39,997 | (1,502) |
Subtotals | 73,671 | 22,222 | 5,107 |
As of end of period | 102,885 | 29,184 | 6,962 |
Cash flow hedges | |||
As of beginning of period | (40,435) | 9,803 | (3,562) |
Gains (losses) on the re-measurement of cash flow hedges, before tax | (93,182) | (49,163) | 14,048 |
Recycling adjustments on cash flow hedges, before tax | (3,148) | (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 | (96,330) | (50,238) | 13,365 |
As of end of period | (136,765) | (40,435) | 9,803 |
Other comprehensive income, before taxes | (33,910) | (11,251) | 16,765 |
Income tax related to other comprehensive income components | |||
Income tax relating to debt instruments at FVOCI | (27,464) | (7,756) | (1,810) |
Income tax relating to cash flow hedges | 36,927 | 10,918 | (2,646) |
Total | 9,463 | 3,162 | (4,456) |
Other comprehensive income, net of tax | (24,447) | (8,089) | 12,309 |
Attributable to: | |||
Shareholders of the Bank | (25,293) | (8,856) | 11,353 |
Non-controlling interest | $ 846 | $ 767 | $ 956 |
Non-controlling Interest (Detai
Non-controlling Interest (Details) | 9 Months Ended |
Nov. 27, 2019 | |
Disclosure of non-controlling interests [text block] [Abstract] | |
Bank acquired, percentage | 51.00% |
Non-controlling interest, percentage | 49.00% |
Non-controlling Interest (Det_2
Non-controlling Interest (Details) - Schedule of non-controlling interest included in the equity and the income - CLP ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Subsidiaries: | ||||
Equity | $ 84,683,000 | $ 79,633,000 | $ 46,163,000 | |
Income | 5,116,000 | 2,222,000 | 4,360,000 | |
Debt instruments at FVOCI | 110,000 | (260,000) | (86,000) | |
Deferred tax | (31,000) | 71,000 | 2,000 | |
Total other comprehensive income | 79,000 | (189,000) | (84,000) | |
Comprehensive income | $ 5,195,000 | $ 2,033,000 | $ 4,276,000 | |
Santander Corredora de Seguros Limitada [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 25.00% | 0.25% | 0.25% | |
Equity | $ 174,000 | $ 178,000 | $ 172,000 | |
Income | (4,000) | 6,000 | 4,000 | |
Debt instruments at FVOCI | (4,000) | 1,000 | (2,000) | |
Deferred tax | 1,000 | |||
Total other comprehensive income | (3,000) | 1,000 | (2,000) | |
Comprehensive income | $ (7,000) | $ 7,000 | $ 2,000 | |
Santander Corredores de Bolsa Limitada [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 4941.00% | 49.41% | 49.41% | |
Equity | $ 22,614 | $ 22,301,000 | $ 21,673,000 | |
Income | 351,000 | 625,000 | 755,000 | |
Debt instruments at FVOCI | (38,000) | (261,000) | (84,000) | |
Deferred tax | 9,000 | 71,000 | 2,000 | |
Total other comprehensive income | (29,000) | (190,000) | (82,000) | |
Comprehensive income | $ 322,000 | $ 435,000 | $ 673,000 | |
Santander Asesorias Financieras Limitada [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 97.00% | 0.97% | [1] | |
Equity | $ 493,000 | $ 498,000 | [1] | |
Income | (5,000) | 9,000 | [1] | |
Debt instruments at FVOCI | 152,000 | [1] | ||
Deferred tax | (41,000) | [1] | ||
Total other comprehensive income | 111,000 | [1] | ||
Comprehensive income | $ 106,000 | $ 9,000 | [1] | |
Santander S.A. Sociedad Securitizadora [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 36.00% | 0.36% | 0.36% | |
Equity | $ 2,000 | $ 2,000 | $ 2,000 | |
Income | ||||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | ||||
Klare Corredora de Seguros S.A. [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 4990.00% | 49.90% | ||
Equity | $ 2,902 | $ 3,782,000 | ||
Income | (880,000) | (503,000) | ||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ (880,000) | $ (503,000) | ||
Santander Consumer Chile S.A. [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 4900.00% | 49.00% | [2] | |
Equity | $ 29,649 | $ 24,564,000 | [2] | |
Income | 5,619,000 | 1,544,000 | [2] | |
Debt instruments at FVOCI | [2] | |||
Deferred tax | [2] | |||
Total other comprehensive income | [2] | |||
Comprehensive income | 5,619,000 | 1,544,000 | [2] | |
Total subsidiaries [Member] | ||||
Subsidiaries: | ||||
Equity | 55,834,000 | 51,325,000 | 22,335,000 | |
Income | 5,081,000 | 1,681,000 | 858,000 | |
Debt instruments at FVOCI | 110,000 | (260,000) | (86,000) | |
Deferred tax | (31,000) | 71,000 | 2,000 | |
Total other comprehensive income | 79,000 | (189,000) | (84,000) | |
Comprehensive income | $ 5,160,000 | $ 1,492,000 | $ 774,000 | |
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 10000.00% | 100.00% | 100.00% | |
Equity | $ 4,808,000 | $ 3,777,000 | $ 3,777,000 | |
Income | (127,000) | 1,031,000 | 852,000 | |
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ (127,000) | $ 1,031,000 | $ 852,000 | |
Bansa Santander S.A. [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 10000.00% | 100.00% | 100.00% | |
Equity | $ 19,565,000 | $ 20,051,000 | $ 20,051,000 | |
Income | 349,000 | (486,000) | 2,650,000 | |
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 349,000 | $ (486,000) | 2,650,000 | |
Multiplica Spa [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 10000.00% | 100.00% | ||
Equity | $ 4,476,000 | $ 4,480,000 | ||
Income | (187,000) | (4,000) | ||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | (187,000) | (4,000) | ||
Total Entities controlled through other considerations [Member] | ||||
Subsidiaries: | ||||
Equity | 28,849,000 | 28,308,000 | 23,828,000 | |
Income | 35,000 | 541,000 | 3,502,000 | |
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 35,000 | $ 541,000 | $ 3,502,000 | |
Santander Agente de Valores Limitada [Member] | ||||
Subsidiaries: | ||||
Non- controlling % | 0.94% | |||
Equity | $ 488,000 | |||
Income | 99,000 | |||
Debt instruments at FVOCI | ||||
Deferred tax | ||||
Total other comprehensive income | ||||
Comprehensive income | $ 99,000 | |||
[1] | Formerly Santander Agente de Valores Limitada | |||
[2] | On November 27, 2019, the Bank acquired 51% of Santander Consumer S.A., and the remaining 49% is accounted as non-controlling interest. |
Non-controlling Interest (Det_3
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | $ 1,040,914 | $ 2,228,682 | $ 258,617 |
Liabilities | 763,830 | 1,972,044 | 71,272 |
Capital | 269,657 | 239,990 | 170,296 |
Net income | 7,427 | 16,648 | 17,049 |
Santander Corredora de Seguros Limitada [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 79,936 | 82,918 | 77,764 |
Liabilities | 10,777 | 12,372 | 9,595 |
Capital | 70,554 | 68,159 | 66,374 |
Net income | (1,395) | 2,387 | 1,795 |
Santander Corredores de Bolsa Limitada [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 94,802 | 1,479,974 | 102,228 |
Liabilities | 49,038 | 1,434,843 | 57,999 |
Capital | 45,053 | 43,866 | 42,691 |
Net income | 711 | 1,265 | 1,538 |
Santander Asesorias Financieras Limitada [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 52,070 | 51,505 | 50,552 |
Liabilities | 1,142 | 51 | 71 |
Capital | 51,454 | 50,481 | 40,177 |
Net income | (526) | 973 | 10,304 |
Santander S.A. Sociedad Securitizadora [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 630 | 636 | 704 |
Liabilities | 175 | 88 | 66 |
Capital | 547 | 639 | 728 |
Net income | (92) | (91) | (90) |
Klare Corredora de Seguros S.A. [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 6,415 | 8,303 | |
Liabilities | 599 | 724 | |
Capital | 7,579 | 8,586 | |
Net income | (1,763) | (1,007) | |
Santander Consumer Chile S.A. [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 693,992 | 505,059 | |
Liabilities | 633,177 | 452,528 | |
Capital | 49,348 | 39,951 | |
Net income | 11,467 | 12,580 | |
Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 16,448 | ||
Liabilities | 1,185 | ||
Capital | 16,273 | ||
Net income | (1,010) | ||
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 7,789 | 8,200 | 6,932 |
Liabilities | 3,108 | 3,392 | 3,155 |
Capital | 4,808 | 3,777 | 2,925 |
Net income | (127) | 1,031 | 852 |
Bansa Santander S.A. [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 84,496 | 87,607 | 20,437 |
Liabilities | 64,582 | 68,042 | 386 |
Capital | 19,565 | 20,051 | 17,401 |
Net income | 349 | (486) | 2,650 |
Multiplica Spa [Member] | |||
Non-controlling Interest (Details) - Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests [Line Items] | |||
Assets | 4,336 | 4,480 | |
Liabilities | 47 | 4 | |
Capital | 4,476 | 4,480 | |
Net income | $ (187) | $ (4) |
Interest Income (Details) - Sch
Interest Income (Details) - Schedule of income from interest - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | $ 2,233,623 | $ 2,314,637 | $ 2,243,123 |
Resale Agreements [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 124 | 718 | 903 |
Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 36 | 1,263 | 897 |
Commercial Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 906,683 | 957,224 | 936,264 |
Mortgage Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 637,955 | 633,938 | 597,655 |
Consumer loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 569,946 | 602,196 | 586,534 |
Investment Instruments [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 105,417 | 97,319 | 100,213 |
Other Interest Income [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 13,462 | 21,979 | 20,657 |
Hedged Of Interest [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 1,687,680 | 1,815,170 | 1,775,256 |
Hedged Of Interest [Member] | Resale Agreements [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 124 | 718 | 903 |
Hedged Of Interest [Member] | Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 36 | 1,263 | 897 |
Hedged Of Interest [Member] | Commercial Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 722,116 | 780,284 | 771,405 |
Hedged Of Interest [Member] | Mortgage Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 322,687 | 349,663 | 330,055 |
Hedged Of Interest [Member] | Consumer loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 564,363 | 593,705 | 579,929 |
Hedged Of Interest [Member] | Investment Instruments [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 69,276 | 71,150 | 75,423 |
Hedged Of Interest [Member] | Other Interest Income [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 9,078 | 18,387 | 16,644 |
Hedged Of Inflation Adjustments [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 530,000 | 474,427 | 449,784 |
Hedged Of Inflation Adjustments [Member] | Resale Agreements [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | |||
Hedged Of Inflation Adjustments [Member] | Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | |||
Hedged Of Inflation Adjustments [Member] | Commercial Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 174,360 | 160,462 | 153,851 |
Hedged Of Inflation Adjustments [Member] | Mortgage Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 314,777 | 283,820 | 266,691 |
Hedged Of Inflation Adjustments [Member] | Consumer loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 338 | 384 | 439 |
Hedged Of Inflation Adjustments [Member] | Investment Instruments [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 36,141 | 26,169 | 24,790 |
Hedged Of Inflation Adjustments [Member] | Other Interest Income [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 4,384 | 3,592 | 4,013 |
Hedged Of Prepaid Fees [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 15,943 | 25,040 | 18,083 |
Hedged Of Prepaid Fees [Member] | Resale Agreements [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | |||
Hedged Of Prepaid Fees [Member] | Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | |||
Hedged Of Prepaid Fees [Member] | Commercial Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 10,207 | 16,478 | 11,008 |
Hedged Of Prepaid Fees [Member] | Mortgage Loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 491 | 455 | 909 |
Hedged Of Prepaid Fees [Member] | Consumer loans [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | 5,245 | 8,107 | 6,166 |
Hedged Of Prepaid Fees [Member] | Investment Instruments [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting | |||
Hedged Of Prepaid Fees [Member] | Other Interest Income [Member] | |||
Interest Income (Details) - Schedule of income from interest [Line Items] | |||
Interest income not including income from hedge accounting |
Interest Income (Details) - S_2
Interest Income (Details) - Schedule of interest expense - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | $ (624,314) | $ (866,327) | $ (809,956) |
Demand Deposits [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (15,102) | (15,526) | (16,285) |
Repurchase Agreements [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (1,899) | (9,710) | (6,439) |
Time Deposits And Liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (161,967) | (362,479) | (352,345) |
Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (45,103) | (50,354) | (39,971) |
Issued Debt Instruments [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (372,646) | (395,999) | (374,682) |
Other financial liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (648) | (1,343) | (2,808) |
Lease contracts [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (2,651) | (2,965) | |
Other Interest Expense [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (24,298) | (27,951) | (17,426) |
Hedged Of Interest [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (447,084) | (680,827) | (629,467) |
Hedged Of Interest [Member] | Demand Deposits [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (13,576) | (14,018) | (14,914) |
Hedged Of Interest [Member] | Repurchase Agreements [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (1,899) | (9,710) | (6,439) |
Hedged Of Interest [Member] | Time Deposits And Liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (141,091) | (335,307) | (317,061) |
Hedged Of Interest [Member] | Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (45,103) | (50,354) | (39,971) |
Hedged Of Interest [Member] | Issued Debt Instruments [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (232,551) | (250,512) | (241,455) |
Hedged Of Interest [Member] | Other financial liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (637) | (1,310) | (2,698) |
Hedged Of Interest [Member] | Lease contracts [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (2,651) | (2,965) | |
Hedged Of Interest [Member] | Other Interest Expense [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (9,576) | (16,651) | (6,929) |
Hedged Of Inflation Adjustments [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (177,230) | (185,500) | (180,489) |
Hedged Of Inflation Adjustments [Member] | Demand Deposits [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (1,526) | (1,508) | (1,371) |
Hedged Of Inflation Adjustments [Member] | Repurchase Agreements [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | |||
Hedged Of Inflation Adjustments [Member] | Time Deposits And Liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (20,876) | (27,172) | (35,284) |
Hedged Of Inflation Adjustments [Member] | Interbank Loans [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | |||
Hedged Of Inflation Adjustments [Member] | Issued Debt Instruments [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (140,095) | (145,487) | (133,227) |
Hedged Of Inflation Adjustments [Member] | Other financial liabilities [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | (11) | (33) | (110) |
Hedged Of Inflation Adjustments [Member] | Lease contracts [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | |||
Hedged Of Inflation Adjustments [Member] | Other Interest Expense [Member] | |||
Interest Income (Details) - Schedule of interest expense [Line Items] | |||
Interest expense not including expenses from hedge accounting | $ (14,722) | $ (11,300) | $ (10,497) |
Interest Income (Details) - S_3
Interest Income (Details) - Schedule of income and expense from interest - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of income and expense from interest [Abstract] | |||
Interest income not including income from hedge accounting | $ 2,233,623 | $ 2,314,637 | $ 2,243,123 |
Interest expense not including expense from hedge accounting | (624,314) | (866,327) | (809,956) |
Net Interest income (expense) from hedge accounting | 1,609,309 | 1,448,310 | 1,433,167 |
Hedge accounting (net) | (15,461) | (31,346) | (18,799) |
Total net interest income | $ 1,593,848 | $ 1,416,964 | $ 1,414,368 |
Fees and Commissions (Details)
Fees and Commissions (Details) - Schedule of fees and commission - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fee and commission income | |||
Fees and commissions for lines of credits and overdrafts | $ 7,428 | $ 10,315 | $ 6,624 |
Fees and commissions for guarantees and letters of credit | 36,277 | 35,039 | 33,654 |
Fees and commissions for card services | 196,308 | 225,702 | 218,903 |
Fees and commissions for management of accounts | 34,825 | 35,949 | 33,865 |
Fees and commissions for collections and payments | 23,242 | 33,355 | 40,077 |
Fees and commissions for intermediation and management of securities | 11,272 | 10,154 | 10,147 |
Insurance brokerage fees | 39,764 | 49,664 | 39,949 |
Office banking | 15,119 | 13,655 | 15,921 |
Fees for other services rendered | 44,072 | 47,331 | 45,633 |
Other fees earned | 42,855 | 37,494 | 39,690 |
Total | 451,162 | 498,658 | 484,463 |
Fee and commission expense | |||
Compensation for card operation | (123,011) | (171,513) | (163,794) |
Fees and commissions for securities transactions | (896) | (1,001) | (936) |
Office banking | (2,078) | (1,860) | (4,096) |
Interbank services | (24,957) | (19,839) | (14,413) |
Other fees | (32,942) | (17,359) | (10,339) |
Total | (183,884) | (211,572) | (193,578) |
Net fees and commissions income | $ 267,278 | $ 287,086 | $ 290,885 |
Fees and Commissions (Details_2
Fees and Commissions (Details) - Schedule of income and expences - CLP ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Commission income | |||
Commissions for lines of credit and overdrafts | $ 7,428,000 | $ 10,315,000 | $ 6,624,000 |
Commissions for guarantees and letters of credit | 36,277,000 | 35,039,000 | 33,654,000 |
Commissions for card services | 196,308,000 | 225,702,000 | 218,903,000 |
Commissions for account management | 34,825,000 | 35,949,000 | 33,865,000 |
Commissions for collections, collections and payments | 23,242,000 | 33,355,000 | 40,077,000 |
Commissions for intermediation and management of values | 11,272,000 | 10,154,000 | 10,147,000 |
Office banking | 15,119,000 | 13,655,000 | 15,921,000 |
Other remuneration for services rendered | 44,072,000 | 47,331,000 | 45,633,000 |
Commission expenses | |||
Commissions per transaction with securities | (896,000) | (1,001,000) | (936,000) |
Office banking | (2,078,000) | (1,860,000) | (4,096,000) |
Interbank services | (24,957,000) | (19,839,000) | (14,413,000) |
Other commissions | (32,942,000) | (17,359,000) | (10,339,000) |
Total | (183,884,000) | (211,572,000) | (193,578,000) |
Total Net commission income and expenses | 267,278,000 | 287,086,000 | $ 290,885,000 |
Individuals and PYMEs [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 6,334,000 | 6,123,000 | |
Commissions for guarantees and letters of credit | 11,304,000 | 11,553,000 | |
Commissions for card services | 187,098,000 | 218,635,000 | |
Commissions for account management | 31,508,000 | 32,608,000 | |
Commissions for collections, collections and payments | 21,281,000 | 36,129,000 | |
Commissions for intermediation and management of values | 3,353,000 | 3,219,000 | |
Remuneration for insurance commercialization | 39,764,000 | 49,664,000 | |
Office banking | 10,393,000 | 9,280,000 | |
Other remuneration for services rendered | 39,318,000 | 42,499,000 | |
Other commissions earned | 18,948,000 | 12,462,000 | |
Total | 369,301,000 | 422,172,000 | |
Commission expenses | |||
Remuneration for card operation | (118,255,000) | (168,024,000) | |
Commissions per transaction with securities | |||
Office banking | (1,326,000) | (1,186,000) | |
Interbank services | (16,073) | (12,776,000) | |
Other commissions | (20,216,000) | (9,559,000) | |
Total | (155,870,000) | (191,545,000) | |
Total Net commission income and expenses | 213,431,000 | 230,627,000 | |
Companies and Institutions [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 690,000 | 935,000 | |
Commissions for guarantees and letters of credit | 17,505,000 | 17,531,000 | |
Commissions for card services | 6,620,000 | 6,042,000 | |
Commissions for account management | 2,495,000 | 2,515,000 | |
Commissions for collections, collections and payments | 1,514,000 | 2,185,000 | |
Commissions for intermediation and management of values | 299,000 | 245,000 | |
Remuneration for insurance commercialization | |||
Office banking | 4,077,000 | 3,782,000 | |
Other remuneration for services rendered | 3,606,000 | 3,748,000 | |
Other commissions earned | 11,716,000 | 10,727,000 | |
Total | 48,522,000 | 47,710,000 | |
Commission expenses | |||
Remuneration for card operation | (3,020,000) | (3,475,000) | |
Commissions per transaction with securities | |||
Office banking | (434,000) | (389,000) | |
Interbank services | (5,183,000) | (4,121,000) | |
Other commissions | (1,550,000) | (1,013,000) | |
Total | (10,187,000) | (8,998,000) | |
Total Net commission income and expenses | 38,335,000 | 38,712,000 | |
Global Investment Banking [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 398,000 | 3,240,000 | |
Commissions for guarantees and letters of credit | 7,112,000 | 5,842,000 | |
Commissions for card services | 2,568,000 | 950,000 | |
Commissions for account management | 819,000 | 823,000 | |
Commissions for collections, collections and payments | 367,000 | 464,000 | |
Commissions for intermediation and management of values | 8,149,000 | 8,301,000 | |
Remuneration for insurance commercialization | |||
Office banking | 649,000 | 606,000 | |
Other remuneration for services rendered | 1,028,000 | 839,000 | |
Other commissions earned | 12,850,000 | 14,293,000 | |
Total | 33,940,000 | 35,358,000 | |
Commission expenses | |||
Remuneration for card operation | (1,070,000) | (321,000) | |
Commissions per transaction with securities | (69,000) | (33,000) | |
Office banking | (314,000) | (282,000) | |
Interbank services | (3,663,000) | (2,912,000) | |
Other commissions | (5,644,000) | (2,707,000) | |
Total | (10,760,000) | (6,255,000) | |
Total Net commission income and expenses | 23,180,000 | 29,103,000 | |
Others [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 6,000 | 17,000 | |
Commissions for guarantees and letters of credit | 356,000 | 113,000 | |
Commissions for card services | 22,000 | 75,000 | |
Commissions for account management | 3,000 | 3,000 | |
Commissions for collections, collections and payments | 80,000 | (5,423,000) | |
Commissions for intermediation and management of values | (529,000) | (1,611,000) | |
Remuneration for insurance commercialization | |||
Office banking | (13,000) | ||
Other remuneration for services rendered | 120,000 | 245,000 | |
Other commissions earned | (659,000) | 12,000 | |
Total | (601,000) | (6,582,000) | |
Commission expenses | |||
Remuneration for card operation | (666,000) | 307,000 | |
Commissions per transaction with securities | (827,000) | (968,000) | |
Office banking | (4,000) | (3,000) | |
Interbank services | (38,000) | (30,000) | |
Other commissions | (5,532,000) | (4,080,000) | |
Total | (7,067,000) | (4,774,000) | |
Total Net commission income and expenses | (7,668,000) | (11,356,000) | |
Total [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 7,428,000 | 10,315,000 | |
Commissions for guarantees and letters of credit | 36,277,000 | 35,039,000 | |
Commissions for card services | 196,308,000 | 225,702,000 | |
Commissions for account management | 34,825,000 | 35,949,000 | |
Commissions for collections, collections and payments | 23,242,000 | 33,355,000 | |
Commissions for intermediation and management of values | 11,272,000 | 10,154,000 | |
Remuneration for insurance commercialization | 39,764,000 | 49,664,000 | |
Office banking | 15,119,000 | 13,655,000 | |
Other remuneration for services rendered | 44,072,000 | 47,331,000 | |
Other commissions earned | 42,855,000 | 37,494,000 | |
Total | 451,162,000 | 498,658,000 | |
Commission expenses | |||
Remuneration for card operation | (123,011,000) | (171,513,000) | |
Commissions per transaction with securities | (896,000) | (1,001,000) | |
Office banking | (2,078,000) | (1,860,000) | |
Interbank services | (24,957,000) | (19,839,000) | |
Other commissions | (32,942,000) | (8,359,000) | |
Total | (183,884,000) | (211,572,000) | |
Total Net commission income and expenses | 267,278,000 | 287,086,000 | |
Transferred over time [Member] | |||
Commission income | |||
Commissions for lines of credit and overdrafts | 7,428,000 | 10,315,000 | |
Commissions for guarantees and letters of credit | 36,277,000 | 35,039,000 | |
Commissions for card services | 47,073,000 | 41,347,000 | |
Commissions for account management | 34,825,000 | 35,949,000 | |
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 | 125,603,000 | 122,650,000 | |
Commission expenses | |||
Remuneration for card operation | |||
Commissions per transaction with securities | |||
Office banking | |||
Other commissions | |||
Total | |||
Total Net commission income and expenses | 125,603,000 | 122,650,000 | |
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 | 149,235,000 | 184,355,000 | |
Commissions for account management | |||
Commissions for collections, collections and payments | 11,303,000 | 12,854,000 | |
Commissions for intermediation and management of values | 11,272,000 | 10,154,000 | |
Remuneration for insurance commercialization | |||
Office banking | 15,119,000 | 13,655,000 | |
Other remuneration for services rendered | 44,072,000 | 47,331,000 | |
Other commissions earned | 42,855,000 | 37,494,000 | |
Total | 273,856,000 | 305,843,000 | |
Commission expenses | |||
Remuneration for card operation | (68,550,000) | (171,513,000) | |
Commissions per transaction with securities | (896,000) | (1,001,000) | |
Office banking | (2,078,000) | (1,860,000) | |
Interbank services | (24,957,000) | (19,839,000) | |
Other commissions | (32,942,000) | (8,359,000) | |
Total | (129,423,000) | (211,572,000) | |
Total Net commission income and expenses | 144,433,000 | 94,271,000 | |
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 | 11,939,000 | 20,501,000 | |
Commissions for intermediation and management of values | |||
Remuneration for insurance commercialization | 39,764,000 | 49,664,000 | |
Office banking | |||
Other remuneration for services rendered | |||
Other commissions earned | |||
Total | 51,703,000 | 70,165,000 | |
Commission expenses | |||
Remuneration for card operation | (54,461,000) | ||
Commissions per transaction with securities | |||
Office banking | |||
Other commissions | |||
Total | (54,461,000) | ||
Total Net commission income and expenses | $ (2,758,000) | $ 70,165,000 |
Net Income (Expense) From Fin_3
Net Income (Expense) From Financial Operations (Details) - Schedule of income (expense) from financial operations - CLP ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of income (expense) from financial operations [Abstract] | ||||
Net gains on trading derivatives | $ 42,704,000 | $ (162,183,000) | $ 38,217,000 | |
Net gains on financial assets at fair value through profit or loss | 1,671,000 | 11,878,000 | 9,393,000 | |
Net gains on derecognition of financial assets measured at amortized cost | 80,679,000 | 63,672,000 | 8,479,000 | |
Sale of loans and accounts receivables from customers | ||||
Current portfolio | 48,000 | 63,000 | (309,000) | |
Charged-off portfolio | (110,000) | 3,248,000 | 709,000 | |
Repurchase of issued bonds | [1] | (24,973,000) | 3,073,000 | (1,085,000) |
Other income (expense) from financial operations | (9,237,000) | 2,084,000 | (2,230,000) | |
Total income (expense) | $ 90,800 | $ (78,165,000) | $ 53,174,000 | |
[1] | The Bank repurchased its own bonds, see Note 2 for details. |
Net Foreign Exchange Gain (Lo_3
Net Foreign Exchange Gain (Loss) (Details) - Schedule of net foreign exchange income - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net foreign exchange gain (loss) | |||
Net profit (loss) from currency exchange differences | $ 90,133 | $ (89,893) | $ (212,618) |
Hedging derivatives | (27,624) | 362,374 | 252,275 |
Income from assets indexed to foreign currency | (3,512) | 7,376 | 12,251 |
Total | $ 58,997 | $ 279,857 | $ 51,908 |
Expected Credit Losses Allowa_3
Expected Credit Losses Allowance (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
Top of range [member] | |
Expected Credit Losses Allowance (Details) [Line Items] | |
Expected credit loss related to macroeconomically scenarios | $ 59,000 |
Expected Credit Losses Allowa_4
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | [1] | Dec. 31, 2019 | Dec. 31, 2018 | |
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | $ 290,691 | $ (140,245) | $ (142,783) | |
Mortgage loans | 18,273 | (14,412) | 14,121 | |
Consumer loans | 161,576 | (169,483) | (189,251) | |
Contingent loans | 5,789 | 1,008 | 8 | |
Loans and account receivable at FVOCI | 1,253 | 5 | 431 | |
Debt at FVOCI | 682 | (184) | 66 | |
Total | 478,264 | (323,311) | (317,408) | |
Individual [Member] | Stage 1 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 20,055 | (3,002) | 79 | |
Mortgage loans | 0 | |||
Consumer loans | 0 | |||
Contingent loans | 1,335 | 45 | (90) | |
Loans and account receivable at FVOCI | 1,253 | 5 | 363 | |
Debt at FVOCI | ||||
Total | 22,643 | (2,952) | 352 | |
Individual [Member] | Stage 2 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 35,861 | (10,469) | (2,891) | |
Mortgage loans | 0 | |||
Consumer loans | 0 | |||
Contingent loans | 1,624 | 10 | 11 | |
Loans and account receivable at FVOCI | 68 | |||
Debt at FVOCI | ||||
Total | 37,485 | (10,459) | (2,812) | |
Individual [Member] | Stage 3 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 115,730 | (79,501) | (96,131) | |
Mortgage loans | 0 | |||
Consumer loans | 0 | |||
Contingent loans | (14) | 152 | (225) | |
Loans and account receivable at FVOCI | ||||
Debt at FVOCI | ||||
Total | 115,716 | (79,349) | (96,356) | |
Collective [Member] | Stage 1 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 9,617 | (4,930) | 5,652 | |
Mortgage loans | 16,603 | (1,177) | 5,583 | |
Consumer loans | 19,024 | (8,875) | 1,861 | |
Contingent loans | (1,600) | 589 | 1,214 | |
Loans and account receivable at FVOCI | ||||
Debt at FVOCI | 682 | (184) | 66 | |
Total | 44,326 | (14,577) | 14,376 | |
Collective [Member] | Stage 2 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 23,410 | (8,686) | (1,533) | |
Mortgage loans | (5,966) | (4,998) | 5,161 | |
Consumer loans | (18,914) | (15,280) | 192 | |
Contingent loans | 4,023 | 24 | (68) | |
Loans and account receivable at FVOCI | ||||
Debt at FVOCI | ||||
Total | 2,552 | (28,940) | 3,752 | |
Collective [Member] | Stage 3 [Member] | ||||
Expected Credit Losses Allowance (Details) - Schedule of expected credit losses [Line Items] | ||||
Commercial loans | 86,018 | (33,657) | (47,959) | |
Mortgage loans | 7,636 | (8,237) | 3,377 | |
Consumer loans | 161,466 | (145,328) | (191,304) | |
Contingent loans | 423 | 188 | (834) | |
Loans and account receivable at FVOCI | ||||
Debt at FVOCI | ||||
Total | $ 255,543 | $ (187,034) | $ (236,720) | |
[1] | Includes overlays for an amount of MCh$59,000. See Note 37, Risk management. |
Personnel Salaries and Expens_3
Personnel Salaries and Expenses (Details) - Schedule of personnel expenses - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of personnel expenses [Abstract] | |||
Personnel compensation | $ 265,312 | $ 260,445 | $ 259,354 |
Bonuses or gratifications | 77,046 | 78,534 | 72,728 |
Stock-based benefits | (1,589) | (315) | (337) |
Seniority compensation | 22,380 | 25,006 | 21,869 |
Pension plans | 1,026 | 567 | 1,069 |
Training expenses | 2,887 | 4,918 | 3,782 |
Day care and kindergarten | 2,769 | 2,731 | 2,778 |
Welfare funds | 6,531 | 6,644 | 6,040 |
Other personnel expenses | 32,308 | 31,627 | 30,281 |
Total | $ 408,670 | $ 410,157 | $ 397,564 |
Administrative Expenses (Detail
Administrative Expenses (Details) - Schedule of administrative expenses - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of administrative expenses [Abstract] | |||
General administrative expenses | $ 142,848 | $ 124,896 | $ 145,241 |
Maintenance and repair of property, plant and equipment | 20,300 | 19,214 | 20,962 |
Office lease | 29,761 | ||
Equipment lease | 55 | ||
Short term leases contracts | 1,625 | 4,177 | |
Insurance payments | 5,064 | 3,848 | 3,439 |
Office supplies | 4,774 | 5,126 | 5,070 |
IT and communication expenses | 68,436 | 52,017 | 44,209 |
Heating, and other utilities | 5,455 | 2,848 | 4,849 |
Security and valuables transport services | 12,365 | 12,187 | 12,168 |
Representation and personnel travel expenses | 2,375 | 4,109 | 3,444 |
Judicial and notarial expenses | 860 | 1,277 | 1,148 |
Fees for technical reports and auditing | 8,460 | 7,643 | 10,020 |
Other general administrative expenses | 13,134 | 12,450 | 10,116 |
Outsourced services | 72,513 | 71,572 | 65,358 |
Data processing | 38,032 | 31,921 | 32,360 |
Archive services | 2,619 | 3,518 | 3,401 |
Valuation services | 3,208 | 3,644 | 3,167 |
Outsourcing | 6,177 | 10,139 | 9,936 |
Other | 22,477 | 22,350 | 16,494 |
Board expenses | 1,517 | 1,356 | 1,297 |
Marketing expenses | 16,791 | 20,891 | 19,286 |
Taxes, payroll taxes, and contributions | 16,781 | 14,897 | 13,907 |
Real estate taxes | 2,214 | 1,954 | 1,730 |
Patents | 2,135 | 1,913 | 1,896 |
Other taxes | 5 | 5 | 7 |
Contributions to FMC (former SBIF) | 12,427 | 11,025 | 10,274 |
Total | $ 250,450 | $ 233,612 | $ 245,089 |
Depreciation, Amortization, a_3
Depreciation, Amortization, and Impairment (Details) - Schedule of depreciation, amortization and impairment charges - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation and amortization | |||
Depreciation of property, plant, and equipment | $ (56,311) | $ (52,855) | $ (54,987) |
Amortization of Intangible assets | (25,384) | (26,348) | (24,293) |
Depreciation right of use assets | (27,731) | (26,889) | |
Total depreciation and amortization | (109,426) | (106,092) | (79,280) |
Impairment of property, plant, and equipment | (1,013) | (39) | |
Impairment of right of use assets | (638) | (1,713) | |
Impairment of intangibles | |||
Total impairment | (638) | (2,726) | (39) |
Total | $ (110,064) | $ (108,818) | $ (79,319) |
Other Operating Income and Ex_3
Other Operating Income and Expenses (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Disclosure of other operating income (expense) [text block] [Abstract] | |
Income from legal cession of rights | $ 2,122 |
Other Operating Income and Ex_4
Other Operating Income and Expenses (Details) - Schedule of other operating income - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of other operating income [Abstract] | ||||
Income from assets received in lieu of payment | $ 5,934 | $ 5,613 | $ 7,106 | |
Release of contingencies provisions | [1] | 503 | 12,020 | |
Other income | 1,769 | 7,388 | 4,003 | |
Leases | 222 | |||
Income from sale of property, plant and equipment | [2] | 865 | 2,456 | 2,490 |
Compensation from insurance companies due to damages | [3] | 702 | 4,681 | 144 |
Other | 202 | 251 | 1,147 | |
Total | $ 8,206 | $ 13,001 | $ 23,129 | |
[1] | In accordance with IAS 37, the Bank recorded contingencies provisions, which in 2018 and 2020 were favorable to the Bank. | |||
[2] | Legal cession of rights made by Bansa Santander S.A. which resulted in an income of Ch$2,122 million, as of December 31, 2018. | |||
[3] | Mainly are recoveries from fraud claims. |
Other Operating Income and Ex_5
Other Operating Income and Expenses (Details) - Schedule of other operating expenses - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of other operating expenses [Abstract] | ||||
Allowances and expenses for assets received in lieu of payment | $ 2,941 | $ 3,900 | $ 2,537 | |
Provision on assets received in lieu of payment | 1,456 | 1,828 | 816 | |
Expenses for maintenance of assets received in lieu of payment | 1,485 | 2,072 | 1,721 | |
Credit card expenses | 546 | 1,077 | 3,151 | |
Customer services | 1,559 | 2,456 | 3,635 | |
Other expenses | 72,760 | 41,870 | 23,019 | |
Operating charge-offs | 10,675 | 8,349 | 5,694 | |
Life insurance and general product insurance policies | [1] | 32,987 | 21,205 | 9,964 |
Sale of property plant and equipment | 67 | 62 | ||
Retail association payment | 326 | 343 | 898 | |
Sale of participation on associates | 20 | 126 | ||
Expense on social commotion event | 1,823 | |||
Leasing land tax | [2] | 3,174 | ||
Commercial representation expenses | 3,501 | 256 | ||
Non-recurrent expenses | 6,622 | |||
Other | 15,455 | 9,701 | 6,401 | |
Total | $ 77,806 | $ 49,303 | $ 32,342 | |
[1] | New Fraud Law became effective on 2020. | |||
[2] | Annual Land Tax surcharge approved in the Tax Modernization Law of February 24, 2020. |
Transactions with Related Par_3
Transactions with Related Parties (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of related party [text block] [Abstract] | |||
Loan with non-controlled companies | $ 2,286 | $ 2,059 | $ 122,289 |
Transactions with Related Par_4
Transactions with Related Parties (Details) - Schedule of loans and accounts receivable as well as contingent loans that correspond to related entities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Companies Of The Group [Member] | |||
Loans and accounts receivable: | |||
Commercial loans | $ 352,590 | $ 246,868 | $ 122,289 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable: | 352,590 | 246,868 | 122,289 |
Allowance for loan losses | (1,138) | (122) | (308) |
Net loans | 351,452 | 246,746 | 121,981 |
Guarantees | 3,323 | 462,513 | 442,854 |
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | 3,447 | 4,112 | 5,392 |
Guarantees | 811 | 464,691 | 445,064 |
Contingent loans: | 4,258 | 468,803 | 450,456 |
Allowance for contingent loans | (6) | (835) | (1) |
Net contingent loans | 4,252 | 467,968 | 450,455 |
Associates [member] | |||
Loans and accounts receivable: | |||
Commercial loans | 265 | 375 | 459 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable: | 265 | 375 | 459 |
Allowance for loan losses | (9) | (182) | (9) |
Net loans | 256 | 193 | 450 |
Guarantees | |||
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | |||
Guarantees | |||
Contingent loans: | |||
Allowance for contingent loans | |||
Net contingent loans | |||
Key management personnel of entity or parent [member] | |||
Loans and accounts receivable: | |||
Commercial loans | 3,939 | 2,986 | 4,299 |
Mortgage loans | 22,428 | 20,473 | 18,814 |
Consumer loans | 6,131 | 5,781 | 5,335 |
Loans and accounts receivable: | 32,498 | 29,240 | 28,448 |
Allowance for loan losses | (137) | (179) | (116) |
Net loans | 32,361 | 29,061 | 28,332 |
Guarantees | 27,203 | 23,918 | 22,893 |
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 | 900 | 685 | 233 |
Mortgage loans | |||
Consumer loans | |||
Loans and accounts receivable: | 900 | 685 | 233 |
Allowance for loan losses | (14) | (10) | (5) |
Net loans | 886 | 675 | 228 |
Guarantees | 442 | 288 | 7,171 |
Contingent loans: | |||
Personal guarantees | |||
Letters of credit | 93 | 63 | 44 |
Guarantees | |||
Contingent loans: | 93 | 63 | 44 |
Allowance for contingent loans | |||
Net contingent loans | $ 93 | $ 63 | $ 44 |
Transactions with Related Par_5
Transactions with Related Parties (Details) - Schedule of loan activity to related parties - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Companies Of The Group [Member] | ||||
Transactions with Related Parties (Details) - Schedule of loan activity to related parties [Line Items] | ||||
Opening balances | [1] | $ 715,671 | $ 572,745 | $ 476,906 |
Loans granted | [1] | 388,896 | 193,798 | 200,657 |
Loans payments | [1] | (747,719) | (50,872) | (104,818) |
Ending balances | [1] | 356,848 | 715,671 | 572,745 |
Associated Companies [Member] | ||||
Transactions with Related Parties (Details) - Schedule of loan activity to related parties [Line Items] | ||||
Opening balances | 375 | 459 | 771 | |
Loans granted | 167 | 39 | ||
Loans payments | (110) | (251) | (351) | |
Ending balances | 265 | 375 | 459 | |
Key Personnel [Member] | ||||
Transactions with Related Parties (Details) - Schedule of loan activity to related parties [Line Items] | ||||
Opening balances | 29,240 | 33,871 | 27,051 | |
Loans granted | 8,080 | 4,826 | 16,574 | |
Loans payments | (4,822) | (9,457) | (9,754) | |
Ending balances | 32,498 | 29,240 | 33,871 | |
Other [Member] | ||||
Transactions with Related Parties (Details) - Schedule of loan activity to related parties [Line Items] | ||||
Opening balances | 748 | 7,899 | 7,826 | |
Loans granted | 727 | 500 | 773 | |
Loans payments | (482) | (7,651) | (700) | |
Ending balances | $ 993 | $ 748 | $ 7,899 | |
[1] | Loans with non-controlled companies (not-consolidated) amount MCh$2,286, MCh$2,059 and MCh$122,289 as of December 31, 2020, 2019 and 2018, respectively |
Transactions with Related Par_6
Transactions with Related Parties (Details) - Schedule of assets and liabilities with related parties - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Companies Of The Group [Member] | |||
Assets | |||
Cash and deposits in banks | $ 703,069 | $ 171,816 | $ 189,803 |
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 978,696 | 2,058,715 | 748,632 |
Debt instrument at FVOCI | |||
Other assets | 445,609 | 185,317 | 38,960 |
Liabilities | |||
Deposits and other demand liabilities | 17,118 | 25,261 | 27,515 |
Obligations under repurchase agreements Loans | 961,718 | 138,498 | 6,501 |
Time deposits and other time liabilities | 1,409,404 | 1,183,235 | 2,585,337 |
Financial derivative contracts | 1,137,502 | 2,159,660 | 770,624 |
Interbank borrowing | 544,291 | ||
Issued debt instruments | 349,002 | 363,154 | 335,443 |
Other financial liabilities | 6,231 | 6,807 | |
Other liabilities | 1,210 | 8,130 | 60,884 |
Associated companies [Member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 186,038 | 218,610 | 105,358 |
Debt instrument at FVOCI | |||
Other assets | 412,277 | 210,579 | 51,842 |
Liabilities | |||
Deposits and other demand liabilities | 4,484 | 93,761 | 21,577 |
Obligations under repurchase agreements Loans | 5,000 | ||
Time deposits and other time liabilities | 100 | 282,171 | |
Financial derivative contracts | 354,108 | 288,013 | 112,523 |
Interbank borrowing | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | 4,484 | 146,164 | 89,817 |
Key personnel [Member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 33 | ||
Debt instrument at FVOCI | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 5,997 | 4,624 | 2,493 |
Obligations under repurchase agreements Loans | 101 | 270 | 329 |
Time deposits and other time liabilities | 4,706 | 4,246 | 3,189 |
Financial derivative contracts | |||
Interbank borrowing | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | 5,997 | ||
Other [Member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 7 | 55 | 9 |
Debt instrument at FVOCI | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 3,242 | 566 | 480 |
Obligations under repurchase agreements Loans | 80 | 68 | |
Time deposits and other time liabilities | 864 | 2,204 | 838 |
Financial derivative contracts | 3 | ||
Interbank borrowing | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | $ 3,242 |
Transactions with Related Par_7
Transactions with Related Parties (Details) - Schedule of income (expense) recorded due to transactions with related parties - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Companies Of The Group [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | $ (30,586) | $ (41,181) | $ (53,256) | |
Fee and commission income and expenses | 46,823 | 28,274 | 91,178 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) | [1] | (390,737) | (586,318) | (566,677) |
Other operating income and expenses | 492 | 406 | 42 | |
Key personnel compensation and expenses | ||||
Administrative and other expenses | (45,478) | (11,877) | (43,035) | |
Total | (419,486) | (610,696) | (571,748) | |
Associated Companies [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 21 | (5,235) | (156) | |
Fee and commission income and expenses | 22,596 | 14,499 | 7,826 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) | [1] | 240,565 | (84,236) | 65,727 |
Other operating income and expenses | (522) | (2,026) | 1,388 | |
Key personnel compensation and expenses | ||||
Administrative and other expenses | (16,763) | (47,757) | (50,764) | |
Total | 245,897 | (124,755) | 24,021 | |
Key Personnel [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 1,202 | 1,151 | 1,252 | |
Fee and commission income and expenses | 152 | 232 | 305 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) | [1] | 27 | ||
Other operating income and expenses | ||||
Key personnel compensation and expenses | (31,961) | (37,377) | (40,683) | |
Administrative and other expenses | ||||
Total | (30,607) | (35,994) | (39,099) | |
Other related parties [member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 10 | 26 | 508 | |
Fee and commission income and expenses | 24 | 28 | 22 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) | [1] | (12) | ||
Other operating income and expenses | ||||
Key personnel compensation and expenses | ||||
Administrative and other expenses | ||||
Total | $ 34 | $ 54 | $ 518 | |
[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_8
Transactions with Related Parties (Details) - Schedule of payments to Board members and key management personnel - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of payments to Board members and key management personnel [Abstract] | |||
Personnel compensation | $ 16,220 | $ 16,264 | $ 16,924 |
Board members' salaries and expenses | 1,452 | 1,358 | 1,230 |
Bonuses or gratifications | 12,583 | 16,104 | 16,243 |
Stock-based benefits | (1,589) | (315) | (337) |
Seniority compensation | 1,079 | 2,378 | 4,202 |
Pension plans | 1,026 | 567 | 1,069 |
Training expenses | 87 | 37 | 210 |
Health funds | 276 | 273 | 284 |
Other personnel expenses | 827 | 711 | 858 |
Total | $ 31,961 | $ 37,377 | $ 40,683 |
Transactions with Related Par_9
Transactions with Related Parties (Details) - Schedule of composition of key personnel | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Transactions with Related Parties (Details) - Schedule of composition of key personnel [Line Items] | |||
No. of executives | 120 | 128 | 131 |
Director [Member] | |||
Transactions with Related Parties (Details) - Schedule of composition of key personnel [Line Items] | |||
No. of executives | 11 | 10 | 11 |
Division Manager [Member] | |||
Transactions with Related Parties (Details) - Schedule of composition of key personnel [Line Items] | |||
No. of executives | 13 | 12 | 12 |
Manager [Member] | |||
Transactions with Related Parties (Details) - Schedule of composition of key personnel [Line Items] | |||
No. of executives | 96 | 106 | 108 |
Pension Plans (Details)
Pension Plans (Details) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of employee benefits [text block] [Abstract] | ||
Plan assets | $ 8,224 | $ 7,195 |
Pension Plans (Details) - Sched
Pension Plans (Details) - Schedule of actuarial hypothesis assumptions - Other post-employment benefit plans [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Pension Plans (Details) - Schedule of actuarial hypothesis assumptions [Line Items] | ||
Mortality chart | RV-2014 | RV-2014 |
Termination of contract rates | 50.00% | 50.00% |
Impairment chart | PDT 1985 | PDT 1985 |
Pension Plans (Details) - Sch_2
Pension Plans (Details) - Schedule of post-employment benefits - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plans (Details) - Schedule of post-employment benefits [Line Items] | ||||
Plan assets | $ 8,224 | $ 7,195 | $ 6,804 | $ 7,919 |
For active personnel | (7,551) | (6,525) | ||
Incurred by inactive personnel | ||||
Unrealized actuarial (gain) losses | ||||
Balances at year end | $ 673 | $ 670 | $ 846 |
Pension Plans (Details) - Sch_3
Pension Plans (Details) - Schedule of cash flow for post-employment benefits - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
a) Fair value of plan assets | |||
Opening balance | $ 7,195 | $ 6,804 | $ 7,919 |
Expected yield of insurance contracts | 385 | 333 | 353 |
Employer contributions | 870 | 859 | 836 |
Actuarial (gain) losses | |||
Premiums paid | |||
Benefits paid | (226) | (801) | (2,304) |
Fair value of plan assets at year end | 8,224 | 7,195 | 6,804 |
b) Present value of obligations | |||
Present value of obligations opening balance | (6,525) | (5,958) | (6,998) |
Net incorporation of Group companies | |||
Service cost | (1,026) | (567) | (1,069) |
Interest cost | |||
Curtailment/settlement effect | |||
Benefits paid | |||
Past service cost | |||
Actuarial (gain) losses | |||
Other | 2,109 | ||
Present value of obligations at year end | (7,551) | (6,525) | (5,958) |
Net balance at year end | $ 673 | $ 670 | $ 846 |
Pension Plans (Details) - Sch_4
Pension Plans (Details) - Schedule of plan expected profit | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of plan expected profit [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) - Sch_5
Pension Plans (Details) - Schedule of plan associated expenses - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Plans (Details) - Schedule of plan associated expenses [Line Items] | |||
Current period service expenses | $ 1,026 | $ 566 | $ 1,069 |
Interest cost | |||
Expected yield from plan’s assets | (385) | (333) | (353) |
Extraordinary allocations | |||
Actuarial (gain)/ losses recorded in the period | |||
Past service cost | |||
Other | |||
Total | $ 641 | $ 233 | $ 716 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities (Details) - Derivative Contract Guarantees [Member] | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
Fair Value of Financial Assets and Liabilities (Details) [Line Items] | |
Derivatives contract guarantees | $ 191,802,000,000 |
Derivatives contract guarantees | $ 96,263 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial assets and liabilities - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Financial Assets, Fair value | $ 7,062,407 | $ 3,981,088 |
Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities | 31,471,283 | 26,010,067 |
Financial Liabilities, Fair value | 32,047,227 | 26,200,921 |
Financial derivative contracts [Member] | ||
Liabilities | ||
Financial Liabilities | 9,018,660 | 7,390,654 |
Financial Liabilities, Fair value | 9,018,660 | 7,390,654 |
Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities | 8,388,495 | 9,727,081 |
Financial Liabilities, Fair value | 9,590,678 | 10,718,997 |
Guarantees received (margin accounts) [Member] | ||
Liabilities | ||
Financial Liabilities | 624,205 | 994,714 |
Financial Liabilities, Fair value | 624,205 | 994,714 |
Financial derivative contracts [Member] | ||
Assets | ||
Financial Assets | 133,718 | 8,148,608 |
Financial Assets, Fair value | 133,718 | 8,148,608 |
Financial Assets Held For Trading [Member] | ||
Assets | ||
Financial Assets | 270,204 | |
Financial Assets, Fair value | 9,032,085 | 270,204 |
Loans And Accounts Receivable At Amortized Cost [Member] | ||
Assets | ||
Financial Assets | 33,303,100 | 31,775,420 |
Financial Assets, Fair value | 36,921,368 | 34,602,793 |
Loans and accounts receivable at FVOCI, net [Member] | ||
Assets | ||
Financial Assets | 69,331 | 66,065 |
Financial Assets, Fair value | 69,331 | 66,065 |
Debt Instrument At FVOCI [Member] | ||
Assets | ||
Financial Assets | 7,162,542 | 4,010,272 |
Financial Assets, Fair value | 7,162,542 | 4,010,272 |
Guarantee Deposits (Margin Accounts) [Member] | ||
Assets | ||
Financial Assets | 608,359 | 314,616 |
Financial Assets, Fair value | $ 608,359 | $ 314,616 |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities (Details) - Schedule of assets and liabilities on recurrent basis - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | |||
Assets | $ 17,006,035 | $ 12,809,765 | |
Liabilities | |||
Liabilities | 9,642,865 | 8,385,368 | |
Level 1 [Member] | |||
Assets | |||
Assets | 7,277,531 | 4,262,625 | |
Liabilities | |||
Liabilities | |||
Level 2 [Member] | |||
Assets | |||
Assets | 9,651,046 | 8,465,462 | |
Liabilities | |||
Liabilities | 9,640,105 | 8,382,418 | |
Level 3 [Member] | |||
Assets | |||
Assets | 77,458 | 81,678 | |
Liabilities | |||
Liabilities | 2,760 | 2,950 | $ 795 |
Derivatives [Member] | |||
Liabilities | |||
Liabilities | 9,018,660 | 7,390,654 | |
Derivatives [Member] | Level 1 [Member] | |||
Liabilities | |||
Liabilities | |||
Derivatives [Member] | Level 2 [Member] | |||
Liabilities | |||
Liabilities | 9,015,900 | 7,387,704 | |
Derivatives [Member] | Level 3 [Member] | |||
Liabilities | |||
Liabilities | 2,760 | 2,950 | |
Guarantees received (margin accounts) [Member] | |||
Liabilities | |||
Liabilities | 624,205 | 994,714 | |
Guarantees received (margin accounts) [Member] | Level 1 [Member] | |||
Liabilities | |||
Liabilities | |||
Guarantees received (margin accounts) [Member] | Level 2 [Member] | |||
Liabilities | |||
Liabilities | 624,205 | 994,714 | |
Guarantees received (margin accounts) [Member] | Level 3 [Member] | |||
Liabilities | |||
Liabilities | |||
Financial Assets Held For Trading [Member] | |||
Assets | |||
Assets | 133,718 | 270,204 | |
Financial Assets Held For Trading [Member] | Level 1 [Member] | |||
Assets | |||
Assets | 132,246 | 270,204 | |
Financial Assets Held For Trading [Member] | Level 2 [Member] | |||
Assets | |||
Assets | 1,472 | ||
Financial Assets Held For Trading [Member] | Level 3 [Member] | |||
Assets | |||
Assets | |||
Loans and accounts receivable at FVOCI, net [Member] | |||
Assets | |||
Assets | 69,331 | 66,065 | |
Loans and accounts receivable at FVOCI, net [Member] | Level 1 [Member] | |||
Assets | |||
Assets | |||
Loans and accounts receivable at FVOCI, net [Member] | Level 2 [Member] | |||
Assets | |||
Assets | |||
Loans and accounts receivable at FVOCI, net [Member] | Level 3 [Member] | |||
Assets | |||
Assets | 69,331 | 66,065 | |
Debt Instruments At FVOCI [Member] | |||
Assets | |||
Assets | 7,162,542 | 4,010,272 | |
Debt Instruments At FVOCI [Member] | Level 1 [Member] | |||
Assets | |||
Assets | 7,145,285 | 3,992,421 | |
Debt Instruments At FVOCI [Member] | Level 2 [Member] | |||
Assets | |||
Assets | 16,731 | 17,146 | |
Debt Instruments At FVOCI [Member] | Level 3 [Member] | |||
Assets | |||
Assets | 526 | 705 | |
Derivatives [Member] | |||
Assets | |||
Assets | 9,032,085 | 8,148,608 | |
Derivatives [Member] | Level 1 [Member] | |||
Assets | |||
Assets | |||
Derivatives [Member] | Level 2 [Member] | |||
Assets | |||
Assets | 9,024,484 | 8,133,700 | |
Derivatives [Member] | Level 3 [Member] | |||
Assets | |||
Assets | 7,601 | 14,908 | |
Guarantees received (margin accounts) [Member] | |||
Assets | |||
Assets | 608,359 | 314,616 | |
Guarantees received (margin accounts) [Member] | Level 1 [Member] | |||
Assets | |||
Assets | |||
Guarantees received (margin accounts) [Member] | Level 2 [Member] | |||
Assets | |||
Assets | 608,359 | 314,616 | |
Guarantees received (margin accounts) [Member] | Level 3 [Member] | |||
Assets | |||
Assets |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities (Details) - Schedule of assets or liabilities which are not measured at fair value - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Financial Assets, Fair value | $ 7,062,407 | $ 3,981,088 |
Total | 36,921,368 | 34,602,793 |
Liabilities | ||
Total | 41,637,905 | 36,919,918 |
Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 32,047,227 | 26,200,921 |
Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 9,590,678 | 10,718,997 |
Loans And Accounts Receivable At Amortized Cost [Member] | ||
Assets | ||
Financial Assets, Fair value | 36,921,368 | 34,602,793 |
Level 1 [Member] | ||
Assets | ||
Total | ||
Liabilities | ||
Total | ||
Level 1 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Level 1 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Level 1 [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||
Assets | ||
Financial Assets, Fair value | ||
Level 2 [Member] | ||
Assets | ||
Total | ||
Liabilities | ||
Total | 27,077,012 | 26,622,486 |
Level 2 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 17,486,334 | 15,903,489 |
Level 2 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 9,590,678 | 10,718,997 |
Level 2 [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||
Assets | ||
Financial Assets, Fair value | ||
Level 3 [Member] | ||
Assets | ||
Total | 36,921,368 | 34,602,793 |
Liabilities | ||
Total | 14,560,893 | 10,297,432 |
Level 3 [Member] | Deposits and interbank borrowings [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | 14,560,893 | 10,297,432 |
Level 3 [Member] | Issued debt instruments and other financial liabilities [Member] | ||
Liabilities | ||
Financial Liabilities, Fair value | ||
Level 3 [Member] | Loans And Accounts Receivable At Amortized Cost [Member] | ||
Assets | ||
Financial Assets, Fair value | $ 36,921,368 | $ 34,602,793 |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments classified as Level 3 - Level 3 [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Present Value Method [Member] | Financial Derivative Contracts [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments classified as Level 3 [Line Items] | |||
Main unobservabe inputs | [1] | Curves on TAB | Curves on TAB |
Impact Sens. -1bp Unfavourable scenario | $ (1.3) | $ (2.3) | |
Impact Sens. +1bp Favourable scenario | $ (1.3) | $ 2.3 | |
Internal Rate Of Return Method [Member] | Debt Instrument At FVOCI [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments classified as Level 3 [Line Items] | |||
Main unobservabe inputs | [2] | BR UF | BR UF |
Impact Sens. -1bp Unfavourable scenario | |||
Impact Sens. +1bp Favourable scenario | |||
[1] | TAB: “Tasa Activa Bancaria” (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). | ||
[2] | BR: “Bonos de Reconocimiento” (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. |
Fair Value of Financial Asset_8
Fair Value of Financial Assets and Liabilities (Details) - Schedule of assets and liabilities measured at fair value on a recurrent basis using unobserved significant entries (Level 3) - Level 3 [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities (Details) - Schedule of assets and liabilities measured at fair value on a recurrent basis using unobserved significant entries (Level 3) [Line Items] | ||
Balance | $ 81,678 | $ 80,781 |
Balance | 2,950 | 795 |
Total realized and unrealized profits (losses) | ||
Included in statements of income | (196) | 827 |
Included in statements of income | 1,012 | 2,155 |
Included in other comprehensive income | 3,087 | 70 |
Included in other comprehensive income | ||
Purchases, issuances, and loans (net) | ||
Purchases, issuances, and loans (net) | ||
Level transfer | (7,111) | |
Level transfer | (1,202) | |
Balance | 77,458 | 81,678 |
Balance | 2,760 | 2,950 |
Total profits or losses included in comprehensive income that are attributable to change in unrealized profit (losses) related to assets or liabilities | (4,220) | 897 |
Total profits or losses included in comprehensive income that are attributable to change in unrealized profit (losses) related to assets or liabilities | $ (190) | $ 2,155 |
Fair Value of Financial Asset_9
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | $ 8,214,216 | ||
Compensated in balance | |||
Net amount presented in balance | 8,148,151 | ||
Remains of unrelated and / or unencumbered financial instruments | 33,494,749 | 31,841,942 | |
Amount in Statements of Financial Position | 42,335,185 | 39,990,093 | |
Gross amounts | 9,891,887 | 7,768,200 | |
Compensated in balance | |||
Net amount presented in balance | 9,891,887 | 7,768,200 | |
Remains of unrelated and / or unencumbered financial instruments | 31,567,864 | 26,012,576 | |
Amount in Statements of Financial Position | 41,459,751 | 33,780,776 | |
Investments under resale agreements [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | |||
Compensated in balance | |||
Net amount presented in balance | |||
Gross amounts | 969,808 | 380,055 | |
Compensated in balance | |||
Net amount presented in balance | 969,808 | 380,055 | |
Remains of unrelated and / or unencumbered financial instruments | |||
Amount in Statements of Financial Position | 969,808 | 380,055 | |
Financial derivative contracts [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | 8,922,079 | [1] | 7,388,145 |
Compensated in balance | [1] | ||
Net amount presented in balance | 8,922,079 | [1] | 7,388,145 |
Remains of unrelated and / or unencumbered financial instruments | 96,581 | [1] | 2,509 |
Amount in Statements of Financial Position | 9,018,660 | [1] | 7,390,654 |
Loans And Accounts Receivable At Amortized Cost [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | |||
Compensated in balance | |||
Net amount presented in balance | |||
Remains of unrelated and / or unencumbered financial instruments | 31,471,283 | ||
Amount in Statements of Financial Position | 31,471,283 | ||
Deposits and interbank borrowings [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | |||
Compensated in balance | |||
Net amount presented in balance | |||
Remains of unrelated and / or unencumbered financial instruments | 26,010,067 | ||
Amount in Statements of Financial Position | 26,010,067 | ||
Financial derivative contracts [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | [1] | 8,148,151 | |
Compensated in balance | [1] | ||
Net amount presented in balance | [1] | 8,148,151 | |
Remains of unrelated and / or unencumbered financial instruments | 191,649 | [1] | 457 |
Amount in Statements of Financial Position | 9,032,085 | [1] | 8,148,608 |
Loans And Accounts Receivable At Amortized Cost [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | |||
Compensated in balance | |||
Net amount presented in balance | |||
Remains of unrelated and / or unencumbered financial instruments | 31,775,420 | ||
Amount in Statements of Financial Position | 31,775,420 | ||
Loans and accounts receivable at FVOCI, net [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | 66,065 | ||
Compensated in balance | |||
Net amount presented in balance | |||
Remains of unrelated and / or unencumbered financial instruments | 33,303,100 | 66,065 | |
Amount in Statements of Financial Position | $ 33,303,100 | 66,065 | |
Investments under resale agreements [Member] | |||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of financial instruments subject to compensation [Line Items] | |||
Gross amounts | |||
Compensated in balance | |||
Net amount presented in balance | |||
Remains of unrelated and / or unencumbered financial instruments | |||
Amount in Statements of Financial Position | |||
[1] | Derivatives contract have guarantees associated for Ch$191,802 million and Ch$96,263, respectively. |
Fair Value of Financial Asse_10
Fair Value of Financial Assets and Liabilities (Details) - Schedule of credit exposure in its financial derivative operations - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value of Financial Assets and Liabilities (Details) - Schedule of credit exposure in its financial derivative operations [Line Items] | ||
Assets | $ 9,302,085 | $ 8,148,607 |
Liability | 9,018,660 | 7,390,654 |
Financial derivative contracts with collateral agreement threshold equal to zero [Member] | ||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of credit exposure in its financial derivative operations [Line Items] | ||
Assets | 8,127,263 | 7,478,837 |
Liability | 7,900,539 | 6,748,219 |
Financial derivative contracts with non-zero threshold collateral agreement [Member] | ||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of credit exposure in its financial derivative operations [Line Items] | ||
Assets | 471,529 | 532,298 |
Liability | 606,661 | 517,814 |
Financial derivative contracts without collateral agreement [Member] | ||
Fair Value of Financial Assets and Liabilities (Details) - Schedule of credit exposure in its financial derivative operations [Line Items] | ||
Assets | 433,293 | 137,472 |
Liability | $ 511,460 | $ 124,621 |
Risk Management (Details)
Risk Management (Details) $ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2020USD ($) | |
Risk Management (Details) [Line Items] | ||||
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. | 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. | ||
Trading portfolio (in Dollars) | $ 2,620 | |||
Capital and reserves | $ 2,343,580 | $ 2,122,742 | $ 89,100 | |
Corporate and Investment Banking segment | 100.00% | 100.00% | ||
Individual basis commercial loans, description | Additionally, with current COVID-19 infection rates having increased and continued high levels of uncertainty in the macro-economic outlook and to address a potential lag in defaults the Bank’s management have determined to record overlay or post-model adjustments for an amount of MCh$59,000, wherein MCh$29,000 addressed macroeconomics’ variables and MCh$30,000 associated to expected behavior of Fogape loans. | Additionally, with current COVID-19 infection rates having increased and continued high levels of uncertainty in the macro-economic outlook and to address a potential lag in defaults the Bank’s management have determined to record overlay or post-model adjustments for an amount of MCh$59,000, wherein MCh$29,000 addressed macroeconomics’ variables and MCh$30,000 associated to expected behavior of Fogape loans. | ||
Smaller commercial loans | $ 400 | $ 240,000,000 | ||
Holidays Payment | 121,850 | |||
Lieu of payment | 31,447 | 38,890 | ||
Lieu of payment, gross | 32,643 | 40,932 | ||
Lieu of payment, allowance | $ 1,196 | $ 42 | ||
Liquidity, description | In response to the COVID-19 pandemic, the Chilean Central Bank has made two lines of credit available to banks to reinforce their liquidity, amounting to a total of US$24 billion for the whole banking system. These lines of credit bear interest at the Central Bank’s monetary policy rate (MPR), which was 0.5% as of December 31, 2020. Pursuant to these lines of credit, a bank may borrow up to 3% of the aggregate amount of its consumer and commercial loan portfolios as of February 29, 2020 and may borrow up to an additional 12% if it uses the funds to provide loans to companies and individuals. The first line of credit is a facility available conditionally on loan growth (the “FCIC”) to ensure that banks continue to finance households and businesses in Chile. Loans provided by this line of credit may have maturities of up to 4 years and must be secured by government bonds, corporate bonds or highly rated large commercial loans as collateral. Loans provided under the second line of credit, the LCL, are unsecured and may have maturities of up to 2 years. In addition, borrowings by a bank under the LCL are limited to the aggregate amount of the liquidity reserve requirements of such bank. Ultimately, these lines of credit are intended to ensure banks have ample liquidity to enable them to continue financing SMEs and Middle-market companies. As of December 31, 2020, we had borrowed Ch$4,959,260 billion (US$7 billion) under these lines of credit. | In response to the COVID-19 pandemic, the Chilean Central Bank has made two lines of credit available to banks to reinforce their liquidity, amounting to a total of US$24 billion for the whole banking system. These lines of credit bear interest at the Central Bank’s monetary policy rate (MPR), which was 0.5% as of December 31, 2020. Pursuant to these lines of credit, a bank may borrow up to 3% of the aggregate amount of its consumer and commercial loan portfolios as of February 29, 2020 and may borrow up to an additional 12% if it uses the funds to provide loans to companies and individuals. The first line of credit is a facility available conditionally on loan growth (the “FCIC”) to ensure that banks continue to finance households and businesses in Chile. Loans provided by this line of credit may have maturities of up to 4 years and must be secured by government bonds, corporate bonds or highly rated large commercial loans as collateral. Loans provided under the second line of credit, the LCL, are unsecured and may have maturities of up to 2 years. In addition, borrowings by a bank under the LCL are limited to the aggregate amount of the liquidity reserve requirements of such bank. Ultimately, these lines of credit are intended to ensure banks have ample liquidity to enable them to continue financing SMEs and Middle-market companies. As of December 31, 2020, we had borrowed Ch$4,959,260 billion (US$7 billion) under these lines of credit. | ||
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 FMC (formerly the 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, 2020, the ratio of our regulatory capital to risk-weighted assets, net of loan loss allowance and deductions, was 15.37% and our core capital ratio was 6.69%. 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, | |||
CLF [Member] | ||||
Risk Management (Details) [Line Items] | ||||
Capital and reserves | $ 63,500 | |||
Debt additional allowance | 2,066 | |||
Post-model adjustments for amount | $ 59,000 |
Risk Management (Details) - Sch
Risk Management (Details) - Schedule of high, low and average levels - Market Risk [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Consolidated [member] | Top of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | $ 12,820 | $ 15,780 |
Consolidated [member] | Bottom of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 1,940 | 1,330 |
Consolidated [member] | Weighted Average [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 4,450 | 3,060 |
Fixed-Income Investments [Member] | Top of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 11,960 | 9,770 |
Fixed-Income Investments [Member] | Bottom of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 1,500 | 1,180 |
Fixed-Income Investments [Member] | Weighted Average [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 3,190 | 2,330 |
Variable-Income Investments [Member] | Top of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 10 | |
Variable-Income Investments [Member] | Bottom of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 10 | |
Variable-Income Investments [Member] | Weighted Average [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | ||
Foreign Currency Investments [Member] | Top of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 6,470 | 6,050 |
Foreign Currency Investments [Member] | Bottom of Range [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | 710 | 100 |
Foreign Currency Investments [Member] | Weighted Average [Member] | ||
Risk Management (Details) - Schedule of high, low and average levels [Line Items] | ||
Value at risk | $ 2,850 | $ 1,600 |
Risk Management (Details) - S_2
Risk Management (Details) - Schedule of market risk $ in Thousands, $ in Millions | Dec. 31, 2020CLP ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2019USD ($) |
Loss Limit [Member] | Financial management portfolio - local currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | $ 100,000 | $ 100,000 | ||
Effect on capital | 329,275 | 275,000 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 100,000 | 100,000 | ||
Effect on capital (in Dollars) | 329,275 | 275,000 | ||
Loss Limit [Member] | Financial management portfolio - foreign currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | $ 32 | $ 30 | ||
Effect on capital | 53 | 75 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 32 | 30 | ||
Effect on capital (in Dollars) | 53 | 75 | ||
Loss Limit [Member] | Financial management portfolio - consolidated [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 100,000 | 100,000 | ||
Effect on capital | 329,275 | 275,000 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 100,000 | 100,000 | ||
Effect on capital (in Dollars) | 329,275 | 275,000 | ||
High [Member] | Financial management portfolio - local currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 66,504 | 32,719 | ||
Effect on capital | 302,263 | 273,473 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 66,504 | 32,719 | ||
Effect on capital (in Dollars) | 302,263 | 273,473 | ||
High [Member] | Financial management portfolio - foreign currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 19 | 20 | ||
Effect on capital | 47 | 35 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 19 | 20 | ||
Effect on capital (in Dollars) | 47 | 35 | ||
High [Member] | Financial management portfolio - consolidated [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 67,584 | 34,462 | ||
Effect on capital | 286,436 | 271,989 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 67,584 | 34,462 | ||
Effect on capital (in Dollars) | 286,436 | 271,989 | ||
Low [Member] | Financial management portfolio - local currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 26,492 | 12,686 | ||
Effect on capital | 214,596 | 145,338 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 26,492 | 12,686 | ||
Effect on capital (in Dollars) | 214,596 | 145,338 | ||
Low [Member] | Financial management portfolio - foreign currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 2 | 5 | ||
Effect on capital | 12 | 1 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 2 | 5 | ||
Effect on capital (in Dollars) | 12 | 1 | ||
Low [Member] | Financial management portfolio - consolidated [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 25,111 | 15,236 | ||
Effect on capital | 210,706 | 143,836 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 25,111 | 15,236 | ||
Effect on capital (in Dollars) | 210,706 | 143,836 | ||
Average [Member] | Financial management portfolio - local currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 45,380 | 24,719 | ||
Effect on capital | 255,070 | 228,772 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 45,380 | 24,719 | ||
Effect on capital (in Dollars) | 255,070 | 228,772 | ||
Average [Member] | Financial management portfolio - foreign currency [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 5 | 12 | ||
Effect on capital | 33 | 12 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 5 | 12 | ||
Effect on capital (in Dollars) | $ 33 | $ 12 | ||
Average [Member] | Financial management portfolio - consolidated [Member] | ||||
Financial management portfolio – local currency (MCh$) | ||||
Effect on financial income | 46,044 | 27,918 | ||
Effect on capital | 246,292 | 227,303 | ||
Financial management portfolio – foreign currency (Th$US) | ||||
Effect on financial income (in Dollars) | 46,044 | 27,918 | ||
Effect on capital (in Dollars) | $ 246,292 | $ 227,303 |
Risk Management (Details) - S_3
Risk Management (Details) - Schedule of exposures of financial assets and liabilities impacted by IBOR reform $ in Millions | Dec. 31, 2020CLP ($) |
Schedule of exposures of financial assets and liabilities impacted by IBOR reform [Abstract] | |
Loans and advances | $ 362,331 |
Deposits | 582,979 |
Debt instruments | 200,301 |
Financial derivative contracts, assets | 614,035 |
Financial derivative contracts, liabilities | $ 483,789 |
Risk Management (Details) - S_4
Risk Management (Details) - Schedule of quality assets and its related provision - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Individual [Member] | Commerical Loans [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 11,884,580 | $ 11,369,454 |
Total Individual, Percentage | 34.61% | 34.80% |
Total ECL Allowance | $ 366,546 | $ 248,095 |
Total ECL Allowance, Percentage | 35.35% | 27.69% |
Individual [Member] | Commerical Loans [Member] | A1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 45,862 | $ 99,042 |
Total Individual, Percentage | 0.13% | 0.30% |
Total ECL Allowance | $ 3 | $ 2 |
Total ECL Allowance, Percentage | 0.00% | 0.00% |
Individual [Member] | Commerical Loans [Member] | A2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 1,098,771 | $ 907,696 |
Total Individual, Percentage | 3.20% | 2.78% |
Total ECL Allowance | $ 954 | $ 443 |
Total ECL Allowance, Percentage | 0.09% | 0.05% |
Individual [Member] | Commerical Loans [Member] | A3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 1,883,138 | $ 2,419,051 |
Total Individual, Percentage | 5.48% | 7.41% |
Total ECL Allowance | $ 3,657 | $ 2,617 |
Total ECL Allowance, Percentage | 0.35% | 0.29% |
Individual [Member] | Commerical Loans [Member] | A4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 2,675,322 | $ 3,269,855 |
Total Individual, Percentage | 7.79% | 10.01% |
Total ECL Allowance | $ 7,935 | $ 4,421 |
Total ECL Allowance, Percentage | 0.77% | 0.49% |
Individual [Member] | Commerical Loans [Member] | A5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 2,703,321 | $ 2,210,880 |
Total Individual, Percentage | 7.87% | 6.77% |
Total ECL Allowance | $ 16,194 | $ 8,133 |
Total ECL Allowance, Percentage | 1.56% | 0.91% |
Individual [Member] | Commerical Loans [Member] | A6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 1,877,923 | $ 1,134,045 |
Total Individual, Percentage | 5.47% | 3.47% |
Total ECL Allowance | $ 30,604 | $ 8,079 |
Total ECL Allowance, Percentage | 2.95% | 0.90% |
Individual [Member] | Commerical Loans [Member] | B1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 715,348 | $ 603,201 |
Total Individual, Percentage | 2.08% | 1.85% |
Total ECL Allowance | $ 25,679 | $ 12,641 |
Total ECL Allowance, Percentage | 2.48% | 1.41% |
Individual [Member] | Commerical Loans [Member] | B2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 161,472 | $ 83,341 |
Total Individual, Percentage | 0.47% | 0.26% |
Total ECL Allowance | $ 9,704 | $ 3,978 |
Total ECL Allowance, Percentage | 0.94% | 0.44% |
Individual [Member] | Commerical Loans [Member] | B3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 66,379 | $ 85,851 |
Total Individual, Percentage | 0.19% | 0.26% |
Total ECL Allowance | $ 4,198 | $ 3,628 |
Total ECL Allowance, Percentage | 0.40% | 0.40% |
Individual [Member] | Commerical Loans [Member] | B4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 122,678 | $ 133,701 |
Total Individual, Percentage | 0.36% | 0.41% |
Total ECL Allowance | $ 24,022 | $ 25,995 |
Total ECL Allowance, Percentage | 2.32% | 2.90% |
Individual [Member] | Commerical Loans [Member] | C1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 168,034 | $ 158,437 |
Total Individual, Percentage | 0.49% | 0.48% |
Total ECL Allowance | $ 50,566 | $ 53,956 |
Total ECL Allowance, Percentage | 4.88% | 6.02% |
Individual [Member] | Commerical Loans [Member] | C2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 81,773 | $ 75,830 |
Total Individual, Percentage | 0.24% | 0.23% |
Total ECL Allowance | $ 27,947 | $ 29,118 |
Total ECL Allowance, Percentage | 2.70% | 3.25% |
Individual [Member] | Commerical Loans [Member] | C3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 56,928 | $ 48,601 |
Total Individual, Percentage | 0.17% | 0.15% |
Total ECL Allowance | $ 15,689 | $ 11,502 |
Total ECL Allowance, Percentage | 1.51% | 1.28% |
Individual [Member] | Commerical Loans [Member] | C4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 50,404 | $ 41,372 |
Total Individual, Percentage | 0.15% | 0.13% |
Total ECL Allowance | $ 21,181 | $ 20,209 |
Total ECL Allowance, Percentage | 2.04% | 2.26% |
Individual [Member] | Commerical Loans [Member] | C5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 40,803 | $ 44,904 |
Total Individual, Percentage | 0.12% | 0.14% |
Total ECL Allowance | $ 20,664 | $ 27,629 |
Total ECL Allowance, Percentage | 1.99% | 3.08% |
Individual [Member] | Commerical Loans [Member] | C6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 136,424 | $ 53,647 |
Total Individual, Percentage | 0.40% | 0.16% |
Total ECL Allowance | $ 107,549 | $ 35,744 |
Total ECL Allowance, Percentage | 10.37% | 3.99% |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 9,764,799 | $ 9,963,480 |
Total ECL Allowance | 39,589 | 21,540 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 45,862 | 99,042 |
Total ECL Allowance | 3 | 2 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,095,506 | 907,659 |
Total ECL Allowance | 900 | 443 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,863,480 | 2,418,990 |
Total ECL Allowance | 3,318 | 2,617 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 2,632,793 | 3,262,671 |
Total ECL Allowance | 7,329 | 4,399 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 2,538,748 | 2,188,717 |
Total ECL Allowance | 11,498 | 7,618 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | A6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,588,410 | 1,086,401 |
Total ECL Allowance | 16,541 | 6,461 |
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | B1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | B2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | B3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | B4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 1 [Member] | C6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,589,715 | 1,004,967 |
Total ECL Allowance | 65,452 | 30,389 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 3,265 | 37 |
Total ECL Allowance | 54 | |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 19,658 | 61 |
Total ECL Allowance | 339 | |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 42,529 | 7,184 |
Total ECL Allowance | 606 | 22 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 164,341 | 22,163 |
Total ECL Allowance | 4,618 | 515 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | A6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 289,460 | 47,157 |
Total ECL Allowance | 14,010 | 1,410 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | B1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 715,348 | 603,201 |
Total ECL Allowance | 25,679 | 12,641 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | B2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 161,239 | 82,781 |
Total ECL Allowance | 9,566 | 3,773 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | B3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 65,684 | 85,034 |
Total ECL Allowance | 3,764 | 3,367 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | B4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 73,248 | 83,039 |
Total ECL Allowance | 3,008 | 4,085 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 29,863 | 45,433 |
Total ECL Allowance | 2,201 | 3,516 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 12,282 | 8,865 |
Total ECL Allowance | 926 | 614 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,550 | 15,762 |
Total ECL Allowance | 86 | 221 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 2,227 | 2,405 |
Total ECL Allowance | 143 | 170 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 3,981 | 847 |
Total ECL Allowance | 267 | 43 |
Individual [Member] | Commerical Loans [Member] | Stage 2 [Member] | C6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 5,040 | 998 |
Total ECL Allowance | 185 | 12 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 530,066 | 401,007 |
Total ECL Allowance | 261,505 | 196,166 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 232 | |
Total ECL Allowance | 78 | |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | A6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 53 | 487 |
Total ECL Allowance | 53 | 208 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | B1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | ||
Total ECL Allowance | ||
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | B2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 233 | 560 |
Total ECL Allowance | 138 | 205 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | B3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 695 | 817 |
Total ECL Allowance | 434 | 261 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | B4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 49,430 | 50,662 |
Total ECL Allowance | 21,014 | 21,910 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 138,171 | 113,004 |
Total ECL Allowance | 48,365 | 50,440 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 69,491 | 66,965 |
Total ECL Allowance | 27,021 | 28,504 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 55,378 | 32,839 |
Total ECL Allowance | 15,603 | 11,281 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C4 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 48,177 | 38,967 |
Total ECL Allowance | 21,038 | 20,039 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C5 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 36,822 | 44,057 |
Total ECL Allowance | 20,397 | 27,586 |
Individual [Member] | Commerical Loans [Member] | Stage 3 [Member] | C6 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 131,384 | 52,649 |
Total ECL Allowance | 107,364 | 35,732 |
Collective [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 34,339,893 | $ 32,671,515 |
Total Individual, Percentage | 100.00% | 100.00% |
Total ECL Allowance | $ 1,036,793 | $ 896,095 |
Total ECL Allowance, Percentage | 100.00% | 100.00% |
Collective [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 30,216,324 | $ 29,041,636 |
Total ECL Allowance | 194,422 | 133,269 |
Collective [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 2,447,273 | 1,995,733 |
Total ECL Allowance | 149,940 | 121,261 |
Collective [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,676,296 | 1,634,146 |
Total ECL Allowance | 692,431 | 641,565 |
Collective [Member] | Commerical Loans [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 5,102,609 | $ 4,492,871 |
Total Individual, Percentage | 14.86% | 13.75% |
Total ECL Allowance | $ 278,526 | $ 258,474 |
Total ECL Allowance, Percentage | 26.86% | 28.84% |
Collective [Member] | Commerical Loans [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 4,493,999 | $ 3,839,143 |
Total ECL Allowance | 40,943 | 35,887 |
Collective [Member] | Commerical Loans [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 228,591 | 240,100 |
Total ECL Allowance | 44,315 | 25,555 |
Collective [Member] | Commerical Loans [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 380,019 | 413,628 |
Total ECL Allowance | 193,268 | 197,032 |
Collective [Member] | Mortgage [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 12,411,825 | $ 11,262,995 |
Total Individual, Percentage | 36.14% | 34.47% |
Total ECL Allowance | $ 112,522 | $ 101,059 |
Total ECL Allowance, Percentage | 10.85% | 11.28% |
Collective [Member] | Mortgage [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 11,518,363 | $ 10,275,966 |
Total ECL Allowance | 25,065 | 8,446 |
Collective [Member] | Mortgage [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 392,372 | 457,948 |
Total ECL Allowance | 8,441 | 14,509 |
Collective [Member] | Mortgage [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 501,090 | 529,081 |
Total ECL Allowance | 79,016 | 78,104 |
Collective [Member] | Consumer [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 4,940,879 | $ 5,546,195 |
Total Individual, Percentage | 14.39% | 16.98% |
Total ECL Allowance | $ 279,199 | $ 288,467 |
Total ECL Allowance, Percentage | 26.93% | 32.19% |
Collective [Member] | Consumer [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 4,439,163 | $ 4,963,047 |
Total ECL Allowance | 88,825 | 67,396 |
Collective [Member] | Consumer [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 236,595 | 292,718 |
Total ECL Allowance | 31,732 | 50,808 |
Collective [Member] | Consumer [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 265,121 | 290,430 |
Total ECL Allowance | 158,642 | 170,263 |
Collective [Member] | Subtotal [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 22,455,313 | $ 21,302,061 |
Total Individual, Percentage | 65.39% | 65.20% |
Total ECL Allowance | $ 670,247 | $ 648,000 |
Total ECL Allowance, Percentage | 64.65% | 72.31% |
Collective [Member] | Subtotal [Member] | Stage 1 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | $ 20,451,525 | $ 19,078,156 |
Total ECL Allowance | 154,833 | 111,729 |
Collective [Member] | Subtotal [Member] | Stage 2 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 857,558 | 990,766 |
Total ECL Allowance | 84,488 | 90,872 |
Collective [Member] | Subtotal [Member] | Stage 3 [Member] | ||
Risk Management (Details) - Schedule of quality assets and its related provision [Line Items] | ||
Total Individual | 1,146,230 | 1,233,139 |
Total ECL Allowance | $ 430,926 | $ 445,399 |
Risk Management (Details) - S_5
Risk Management (Details) - Schedule of mortage and other loan - Stage 2 [Member] | 12 Months Ended |
Dec. 31, 2020 | |
Collective Marks [Member] | Mortgages [member] | |
Risk Management (Details) - Schedule of mortage and other loan [Line Items] | |
Percentage of quantitative criteria for significant increase in credit risk | 39.57% |
Collective Marks [Member] | Other Loans [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Collective Marks [Member] | Revolving Credit Cards [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Collective Marks [Member] | Collectively Assessed SME [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | Restructured marked for monitoring |
Expected credit losses individually assessed [member] | Individually Assessed SME [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | 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 considered to be substandard or in incompliance (pre-legal action) |
Expected credit losses individually assessed [member] | Middle Market [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | 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 considered to be substandard or in incompliance (pre-legal action) |
Expected credit losses individually assessed [member] | Corporate And Investment Banking [Member] | |
Risk Management (Details) - Schedule of mortage and other loan [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 I | Irregular portfolio > 30 days |
Description of quantitative criteria for significant increase in credit risk of market | 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 considered to be substandard or in incompliance (pre-legal action) |
Risk Management (Details) - S_6
Risk Management (Details) - Schedule of allowance and exposure at default (EAD) of the loans - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of allowance and exposure at default (EAD) of the loans [Abstract] | ||
Loans and account receivable | $ 224,087 | $ 128,161 |
Allowance for ECL | $ 119,537 | $ 53,741 |
Risk Management (Details) - S_7
Risk Management (Details) - Schedule of modified loans - Collective [Member] - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk Management (Details) - Schedule of modified loans [Line Items] | ||
Financial assets | $ 34,339,893 | $ 32,671,515 |
Modified loans | $ 1,685,593 | $ 1,123,845 |
Percentage | 491.00% | 3.44% |
Total ECL Allowance | $ 1,036,793 | $ 896,095 |
Modified loans | $ 442,603 | $ 278,978 |
Percentage | 42.69% | 31.13% |
Stage 1 [Member] | ||
Risk Management (Details) - Schedule of modified loans [Line Items] | ||
Financial assets | $ 30,216,324 | $ 29,041,636 |
Modified loans | ||
Percentage | ||
Total ECL Allowance | $ 194,422 | $ 133,269 |
Modified loans | ||
Percentage | ||
Stage 2 [Member] | ||
Risk Management (Details) - Schedule of modified loans [Line Items] | ||
Financial assets | 2,447,273 | $ 1,995,733 |
Modified loans | $ 799,572 | $ 512,529 |
Percentage | 36.67% | 25.68% |
Total ECL Allowance | $ 149,940 | $ 121,261 |
Modified loans | $ 33,118 | $ 36,329 |
Percentage | 22.09% | 29.96% |
Stage 3 [Member] | ||
Risk Management (Details) - Schedule of modified loans [Line Items] | ||
Financial assets | $ 1,676,296 | $ 1,634,146 |
Modified loans | $ 886,021 | $ 611,316 |
Percentage | 52.86% | 37.41% |
Total ECL Allowance | $ 692,431 | $ 641,565 |
Modified loans | $ 409,485 | $ 242,649 |
Percentage | 59.14% | 37.82% |
Risk Management (Details) - S_8
Risk Management (Details) - Schedule of classification of relief measures $ in Millions | 12 Months Ended |
Dec. 31, 2020CLP ($) | |
Schedule of classification of relief measures [Abstract] | |
New loans subject to government guarantee | $ 2,076,119 |
Payment holiday | 9,098,028 |
Payment holiday – current | 734,986 |
Payment holiday - expired | $ 8,363,042 |
Risk Management (Details) - S_9
Risk Management (Details) - Schedule of residual maturity over measured that have not expired $ in Millions | Dec. 31, 2020CLP ($) |
Risk Management (Details) - Schedule of residual maturity over measured that have not expired [Line Items] | |
New loans subject to government guarantee | $ 2,076,119 |
Payment holiday – current | 734,986 |
Risk Management (Details) - Schedule of residual maturity over measured that have not expired [Line Items] | |
New loans subject to government guarantee | |
Payment holiday – current | 722,746 |
Risk Management (Details) - Schedule of residual maturity over measured that have not expired [Line Items] | |
New loans subject to government guarantee | |
Payment holiday – current | 7,861 |
Risk Management (Details) - Schedule of residual maturity over measured that have not expired [Line Items] | |
New loans subject to government guarantee | 214,400 |
Payment holiday – current | 4,379 |
> 2 year = 5 year [Member] | |
Risk Management (Details) - Schedule of residual maturity over measured that have not expired [Line Items] | |
New loans subject to government guarantee | 1,861,719 |
Payment holiday – current |
Risk Management (Details) - _10
Risk Management (Details) - Schedule of macro economical forward - Macro Economic [Member] - Average estimates 2020 - 2021 [Member] | Dec. 31, 2020 |
Unfavorable Scenario 2 [Member] | Official Interest Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 0.25% |
Unfavorable Scenario 2 [Member] | Unemployment Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 7.31% |
Unfavorable Scenario 2 [Member] | Housing Price Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | (1.70%) |
Unfavorable Scenario 2 [Member] | GDP Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | (1.16%) |
Unfavorable Scenario 2 [Member] | Consumer Price Index [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | (0.26%) |
Unfavorable Scenario 1 [Member] | Official Interest Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 0.50% |
Unfavorable Scenario 1 [Member] | Unemployment Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 6.96% |
Unfavorable Scenario 1 [Member] | Housing Price Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 1.04% |
Unfavorable Scenario 1 [Member] | GDP Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 0.67% |
Unfavorable Scenario 1 [Member] | Consumer Price Index [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 1.07% |
Base Scenario [Member] | Official Interest Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 1.59% |
Base Scenario [Member] | Unemployment Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 6.50% |
Base Scenario [Member] | Housing Price Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 4.67% |
Base Scenario [Member] | GDP Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 3.12% |
Base Scenario [Member] | Consumer Price Index [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 2.82% |
Favorable Scenario 1 [Member] | Official Interest Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 3.20% |
Favorable Scenario 1 [Member] | Unemployment Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 6.04% |
Favorable Scenario 1 [Member] | Housing Price Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 8.30% |
Favorable Scenario 1 [Member] | GDP Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 5.56% |
Favorable Scenario 1 [Member] | Consumer Price Index [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 4.57% |
Favorable Scenario 2 [Member] | Official Interest Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 4.42% |
Favorable Scenario 2 [Member] | Unemployment Rate [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 5.70% |
Favorable Scenario 2 [Member] | Housing Price Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 11.04% |
Favorable Scenario 2 [Member] | GDP Growth [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 7.40% |
Favorable Scenario 2 [Member] | Consumer Price Index [Member] | |
Risk Management (Details) - Schedule of macro economical forward [Line Items] | |
Percentage of macroeconomic annual growth forecasts | 5.90% |
Risk Management (Details) - _11
Risk Management (Details) - Schedule of probabilities - Probability Weighting [Member] | 12 Months Ended |
Dec. 31, 2020 | |
Local Scenario [Member] | |
Risk Management (Details) - Schedule of probabilities [Line Items] | |
Favorable scenario 2 | 10.00% |
Favorable scenario 1 | 15.00% |
Base scenario | 50.00% |
Unfavorable scenario 1 | 15.00% |
Unfavorable scenario 2 | 10.00% |
Global Scenario [Member] | |
Risk Management (Details) - Schedule of probabilities [Line Items] | |
Favorable scenario 1 | 30.00% |
Base scenario | 40.00% |
Unfavorable scenario 1 | 30.00% |
Risk Management (Details) - _12
Risk Management (Details) - Schedule of allowance sensibility - Macro Economic [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 1,036,793 | $ 896,095 |
Gross carrying amount | $ 34,339,893 | $ 32,671,515 |
Reported ECL Coverage | 3.02% | 2.74% |
Favorable Scenario 2 [Member] | ||
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 876,654 | $ 797,501 |
Reported ECL Coverage | 2.55% | 2.44% |
Favorable Scenario 1 [Member] | ||
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 930,044 | $ 835,956 |
Reported ECL Coverage | 2.71% | 2.56% |
Base Scenario [Member] | ||
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 981,671 | $ 884,480 |
Reported ECL Coverage | 2.86% | 2.71% |
Unfavorable Scenario 2 [Member] | ||
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 1,047,127 | $ 929,802 |
Reported ECL Coverage | 3.05% | 2.85% |
Unfavorable scenarios 2 [Member] | ||
Risk Management (Details) - Schedule of allowance sensibility [Line Items] | ||
Reported ECL allowance | $ 1,083,371 | $ 962,437 |
Reported ECL Coverage | 3.15% | 2.95% |
Risk Management (Details) - _13
Risk Management (Details) - Schedule of risk concentration - CLP ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | [1] | |
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | $ 34,339,893,000 | $ 32,671,515,000 | |||
Stage 1 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 30,216,324,000 | 29,041,636,000 | |||
Stage 2 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 2,447,273,000 | 1,995,733,000 | |||
Stage 3 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,676,296,000 | 1,634,146,000 | |||
Commercial Loans [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 16,987,189,000 | 15,862,325,000 | $ 15,217,460,000 | ||
Commercial Loans [Member] | Subtotal [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 16,987,189,000 | 15,862,325,000 | |||
Commercial Loans [Member] | Stage 1 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 13,802,623,000 | ||||
Commercial Loans [Member] | Stage 1 [Member] | Subtotal [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 14,258,798,000 | 13,802,623,000 | |||
Commercial Loans [Member] | Stage 2 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,245,067,000 | ||||
Commercial Loans [Member] | Stage 2 [Member] | Subtotal [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,818,306,000 | 1,245,067,000 | |||
Commercial Loans [Member] | Stage 3 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 910,085 | 814,635,000 | |||
Commercial Loans [Member] | Stage 3 [Member] | Subtotal [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 910,085,000 | 814,635,000 | |||
Commercial Loans [Member] | Manufacturing [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,378,221,000 | 1,285,814,000 | |||
Commercial Loans [Member] | Manufacturing [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,180,220,000 | 1,110,484,000 | |||
Commercial Loans [Member] | Manufacturing [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 130,361,000 | 107,356,000 | |||
Commercial Loans [Member] | Manufacturing [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 67,640,000 | 67,974,000 | |||
Commercial Loans [Member] | Mining [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 433,615,000 | 407,041,000 | |||
Commercial Loans [Member] | Mining [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 265,195,000 | 280,297,000 | |||
Commercial Loans [Member] | Mining [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 161,631,000 | 123,005,000 | |||
Commercial Loans [Member] | Mining [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 6,789,000 | 3,739,000 | |||
Commercial Loans [Member] | Electricity, Gas and Water [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 384,274,000 | 341,044,000 | |||
Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 349,849,000 | 309,941,000 | |||
Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 27,848,000 | 22,907,000 | |||
Commercial Loans [Member] | Electricity, Gas and Water [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 6,577,000 | 8,196,000 | |||
Commercial Loans [Member] | Agriculture and Livestock [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,345,864,000 | 1,287,281,000 | |||
Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 1,024,795,000 | 1,020,857,000 | |||
Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 233,552,000 | 172,984,000 | |||
Commercial Loans [Member] | Agriculture and Livestock [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 87,517,000 | 93,440,000 | |||
Commercial Loans [Member] | Forest [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 179,175,000 | 165,207,000 | |||
Commercial Loans [Member] | Forest [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 141,892,000 | 132,483,000 | |||
Commercial Loans [Member] | Forest [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 23,463,000 | 17,035,000 | |||
Commercial Loans [Member] | Forest [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 13,820,000 | 15,689,000 | |||
Commercial Loans [Member] | Fishing [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 234,152,000 | 256,554,000 | |||
Commercial Loans [Member] | Fishing [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 209,182,000 | 223,980,000 | |||
Commercial Loans [Member] | Fishing [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 20,128,000 | 24,879,000 | |||
Commercial Loans [Member] | Fishing [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 4,842,000 | 7,695,000 | |||
Commercial Loans [Member] | Transportation [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 777,861,000 | 763,877,000 | |||
Commercial Loans [Member] | Transportation [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 622,161,000 | 665,570,000 | |||
Commercial Loans [Member] | Transportation [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 97,624,000 | 64,115,000 | |||
Commercial Loans [Member] | Transportation [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 58,076,000 | 34,192,000 | |||
Commercial Loans [Member] | Communications [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 331,115,000 | 240,950,000 | |||
Commercial Loans [Member] | Communications [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 294,957,000 | 206,660,000 | |||
Commercial Loans [Member] | Communications [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 28,433,000 | 28,122,000 | |||
Commercial Loans [Member] | Communications [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 7,725,000 | 6,168,000 | |||
Commercial Loans [Member] | Construction [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | [2] | 959,369,000 | 974,268,000 | ||
Commercial Loans [Member] | Construction [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | [2] | 811,807,000 | 782,265,000 | ||
Commercial Loans [Member] | Construction [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | [2] | 61,828,000 | 85,435,000 | ||
Commercial Loans [Member] | Construction [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | [2] | 85,734,000 | 106,568,000 | ||
Commercial Loans [Member] | Commerce Industry [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 2,863,338,000 | 2,796,415,000 | |||
Commercial Loans [Member] | Commerce Industry [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 2,549,770,000 | 2,655,982,000 | |||
Commercial Loans [Member] | Commerce Industry [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 223,884,000 | 110,326,000 | |||
Commercial Loans [Member] | Commerce Industry [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 89,684,000 | 30,107,000 | |||
Commercial Loans [Member] | Services [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 4,139,297,000 | 3,366,132,000 | |||
Commercial Loans [Member] | Services [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 3,506,443,000 | 2,971,563,000 | |||
Commercial Loans [Member] | Services [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 393,319,000 | 190,097,000 | |||
Commercial Loans [Member] | Services [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 239,535,000 | 204,472,000 | |||
Commercial Loans [Member] | Other [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 3,960,908,000 | 3,977,742,000 | |||
Commercial Loans [Member] | Other [Member] | Stage 1 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 3,302,527,000 | 3,442,541,000 | |||
Commercial Loans [Member] | Other [Member] | Stage 2 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 416,235,000 | 298,806,000 | |||
Commercial Loans [Member] | Other [Member] | Stage 3 [Member] | Market Risk [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 242,146,000 | 236,395,000 | |||
Mortgages [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 12,411,825,000 | 11,262,995,000 | |||
Mortgages [Member] | Stage 1 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 11,518,363,000 | 10,275,966,000 | |||
Mortgages [Member] | Stage 2 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 392,372,000 | 457,948,000 | |||
Mortgages [Member] | Stage 3 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 501,090,000 | 529,081,000 | |||
Commercials Loan [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 4,940,879,000 | 5,546,195,000 | |||
Commercials Loan [Member] | Stage 1 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 4,439,163,000 | 4,963,047,000 | |||
Commercials Loan [Member] | Stage 2 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | 236,595,000 | 292,718,000 | |||
Commercials Loan [Member] | Stage 3 [Member] | |||||
Risk Management (Details) - Schedule of risk concentration [Line Items] | |||||
Assets before allowances | $ 265,121,000 | $ 290,430,000 | |||
[1] | Include loans and ECL balances of the acquired Santander Consumer Chile S.A. | ||||
[2] | In 2019 we improved the classification of our construction loans, reassigning loans for real state rental investment companies to services. |
Risk Management (Details) - _14
Risk Management (Details) - Schedule of financial assets and associated collateral - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk Management (Details) - Schedule of financial assets and associated collateral [Line Items] | ||
Maximum exposure to credit risk | $ 34,410,578 | $ 32,737,681 |
Collateral | 22,471,455 | 19,654,196 |
Net exposure | 11,939,123 | 13,083,485 |
Associated ECL | 1,038,147 | 896,196 |
Commercial Loans [Member] | ||
Risk Management (Details) - Schedule of financial assets and associated collateral [Line Items] | ||
Maximum exposure to credit risk | 17,057,874 | 15,928,491 |
Collateral | 9,887,154 | 8,180,015 |
Net exposure | 7,170,720 | 7,748,476 |
Associated ECL | 646,426 | 506,670 |
Mortage loans [Member] | ||
Risk Management (Details) - Schedule of financial assets and associated collateral [Line Items] | ||
Maximum exposure to credit risk | 12,411,825 | 11,262,995 |
Collateral | 11,931,235 | 10,725,604 |
Net exposure | 480,590 | 537,391 |
Associated ECL | 112,522 | 101,059 |
Consumer Loans [Member] | ||
Risk Management (Details) - Schedule of financial assets and associated collateral [Line Items] | ||
Maximum exposure to credit risk | 4,940,879 | 5,546,195 |
Collateral | 653,066 | 748,577 |
Net exposure | 4,287,813 | 4,797,618 |
Associated ECL | $ 279,199 | $ 288,467 |
Risk Management (Details) - _15
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | $ 62,869,327 | $ 59,129,994 |
Deposits In Banks [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 2,137,891 | 2,693,342 |
Cash Items In Process Of Collection [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 452,963 | 355,062 |
Financial derivative contracts [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 9,032,085 | 8,148,608 |
Financial Assets Held For Trading [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 133,718 | 270,204 |
Loans And Account Receivable At Amortised Cost / Loans And Account Receivable At FVOCI [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 33,372,431 | 31,841,485 |
Debt Instrument At Fair Value Through Other Comprehensive Income [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 7,162,542 | 4,010,272 |
Letters Of Credit Issued [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 165,119 | 140,572 |
Foreign Letters Of Credit Confirmed [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 82,779 | 70,192 |
Performance guarantees [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 1,090,643 | 1,929,894 |
Available Credit Lines [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 8,391,414 | 8,732,422 |
Personal guarantees [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | 441,508 | 451,950 |
Other Irrevocable Credit Commitments [Member] | ||
Risk Management (Details) - Schedule of financial assets and off-balance sheet commitments [Line Items] | ||
Total | $ 406,234 | $ 485,991 |
Risk Management (Details) - _16
Risk Management (Details) - Schedule of fair value of derivative instruments - Financial Derivatives Contracts [Member] - Credit Risk [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Derivative Instruments (adjusted to market) | $ 18,050 | |
Deposits | 3,390 | |
Loans | 130 | |
Financial investments | ||
Total Exposure | $ 21,570 | |
COLOMBIA | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | $ 810 | |
Deposits | ||
Loans | ||
Financial investments | ||
Total Exposure | $ 810 | |
Italia | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | ||
Deposits | 3,360 | |
Loans | 130 | |
Financial investments | ||
Total Exposure | $ 3,490 | |
Mexico | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | $ 9,860 | |
Deposits | 30 | |
Loans | ||
Financial investments | ||
Total Exposure | $ 9,890 | |
Panama | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | $ 5,770 | |
Deposits | ||
Loans | ||
Financial investments | ||
Total Exposure | $ 5,770 | |
Peru | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | $ 1,610 | |
Deposits | ||
Loans | ||
Financial investments | ||
Total Exposure | $ 1,610 | |
Spain | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 1 | [1] |
Derivative Instruments (adjusted to market) | $ 176,340 | [1] |
Deposits | 139,900 | [1] |
Loans | [1] | |
Financial investments | [1] | |
Total Exposure | $ 316,240 | [1] |
UK [Member] | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 1 | |
Derivative Instruments (adjusted to market) | $ 20,950 | |
Deposits | 50 | |
Total Exposure | $ 21,000 | |
Banco Santander Mexico [Member] | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Classification | 2 | |
Derivative Instruments (adjusted to market) | $ 9,880 | |
Deposits | 30 | |
Total Exposure | 9,910 | |
Santander Group [Member] | ||
Risk Management (Details) - Schedule of fair value of derivative instruments [Line Items] | ||
Derivative Instruments (adjusted to market) | 207,170 | |
Deposits | 139,980 | |
Total Exposure | $ 347,150 | |
[1] | We have included our exposure to Santander branches in New York and Hong Kong as exposure to Spain. |
Risk Management (Details) - _17
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements - Credit risk [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements [Line Items] | ||
Total | $ 29,344,459 | $ 27,968,651 |
Properties/Mortgages [Member] | Non-impaired financial assets [Member] | ||
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements [Line Items] | ||
Total | 25,424,161 | 23,371,510 |
Properties/Mortgages [Member] | Impaired financial assets [Member] | ||
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements [Line Items] | ||
Total | 1,548,568 | 1,245,971 |
Investments & Others [Member] | Non-impaired financial assets [Member] | ||
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements [Line Items] | ||
Total | 2,306,062 | 2,785,219 |
Investments & Others [Member] | Impaired financial assets [Member] | ||
Risk Management (Details) - Schedule of security interests, collateral, or credit improvements [Line Items] | ||
Total | $ 65,668 | $ 565,951 |
Risk Management (Details) - _18
Risk Management (Details) - Schedule of breakdown of bank's liquid assets by levels - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Balance as of: | |||
Cash and cash equivalent | $ 988,320 | $ 1,305,534 | |
Level 1 liquid assets | [1] | 2,490,810 | 2,452,599 |
Level 2 liquid assets | [2] | 12,681 | 15,105 |
Total liquid assets | $ 3,491,811 | $ 3,773,238 | |
[1] | Includes instruments issued by the Central Bank of Chile or other central banks with a AAA rating, instruments issued by the Chilean government or other sovereign with a AAA rating and instruments issued by development banks with a AAA rating. Assets encumbered through repurchase agreements are deducted from the liquidity portfolio including those left as collateral under the FCIC funding program with the Central Bank of Chile. | ||
[2] | Includes instruments issued by governments, central banks and development banks of foreign countries with a risk rating of A- to AA+ and mortgage bonds issued by Chilean banks that are acceptable at the Chilean Central Bank’s repo window. |
Risk Management (Details) - _19
Risk Management (Details) - Schedule of exposure to liquidity risk | Dec. 31, 2020 | Dec. 31, 2019 |
30 Days [Member] | ||
Risk Management (Details) - Schedule of exposure to liquidity risk [Line Items] | ||
Percentages of exposure to liquidity risk | 30.00% | 63.00% |
30 Days Foreign Currency [Member] | ||
Risk Management (Details) - Schedule of exposure to liquidity risk [Line Items] | ||
Percentages of exposure to liquidity risk | 15.00% | |
90 Days [Member] | ||
Risk Management (Details) - Schedule of exposure to liquidity risk [Line Items] | ||
Percentages of exposure to liquidity risk | 32.00% | 79.00% |
Risk Management (Details) - _20
Risk Management (Details) - Schedule of breakdown by maturity - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | $ 1,780,050 | |
Up to 1 month [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 208,577 | |
Between 1 and 3 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 343,177 | |
Between 3 and 12 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 857,363 | |
More than 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 6,620 | |
Between 1 and 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 364,312 | |
Obligations under repurchase agreements [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 969,808 | $ 380,055 |
Obligations under repurchase agreements [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 969,808 | 380,055 |
Obligations under repurchase agreements [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 969,808 | 380,055 |
Obligations under repurchase agreements [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Obligations under repurchase agreements [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Checking accounts, time deposits and other time liabilities [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 25,504,315 | 23,490,249 |
Checking accounts, time deposits and other time liabilities [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 15,082,442 | 10,439,705 |
Checking accounts, time deposits and other time liabilities [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 5,843,682 | 5,184,567 |
Checking accounts, time deposits and other time liabilities [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 2,912,985 | 4,905,414 |
Checking accounts, time deposits and other time liabilities [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,434,246 | 2,417,703 |
Checking accounts, time deposits and other time liabilities [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 25,273,355 | 22,947,389 |
Checking accounts, time deposits and other time liabilities [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 163,053 | 357,856 |
Checking accounts, time deposits and other time liabilities [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 44,384 | 163,121 |
Checking accounts, time deposits and other time liabilities [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 23,523 | 21,883 |
Checking accounts, time deposits and other time liabilities [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 230,960 | 542,860 |
Financial Derivatives Contracts [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 9,018,660 | 7,390,654 |
Financial Derivatives Contracts [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Financial Derivatives Contracts [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 386,690 | 422,749 |
Financial Derivatives Contracts [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 445,376 | 427,825 |
Financial Derivatives Contracts [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 931,358 | 951,684 |
Financial Derivatives Contracts [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,763,424 | 1,802,258 |
Financial Derivatives Contracts [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,552,482 | 1,253,280 |
Financial Derivatives Contracts [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,708,509 | 1,180,948 |
Financial Derivatives Contracts [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 3,994,245 | 3,154,168 |
Financial Derivatives Contracts [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 7,255,236 | 5,588,396 |
Interbank Borrowings [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 6,328,599 | 2,519,818 |
Interbank Borrowings [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 16,832 | 94 |
Interbank Borrowings [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 238,414 | 363,560 |
Interbank Borrowings [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 222,992 | 624,167 |
Interbank Borrowings [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 855,434 | 1,141,824 |
Interbank Borrowings [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,333,672 | 2,129,645 |
Interbank Borrowings [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,140,426 | 387,936 |
Interbank Borrowings [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 3,854,501 | 2,237 |
Interbank Borrowings [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Interbank Borrowings [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 4,994,927 | 390,173 |
Issue debt instruments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 8,204,177 | 9,500,723 |
Issue debt instruments [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Issue debt instruments [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 344,732 | 285,159 |
Issue debt instruments [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 447,117 | 759,519 |
Issue debt instruments [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 343,156 | 1,044,674 |
Issue debt instruments [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,135,005 | 2,089,352 |
Issue debt instruments [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,813,341 | 2,394,850 |
Issue debt instruments [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 2,499,560 | 2,042,292 |
Issue debt instruments [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 2,756,271 | 2,974,229 |
Issue debt instruments [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 7,069,172 | 7,411,371 |
Lease liabilities [member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 184,318 | 158,494 |
Lease liabilities [member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 144,478 | |
Lease liabilities [member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 38,148 | |
Lease liabilities [member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,375 | |
Lease liabilities [member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 27 | 26,061 |
Lease liabilities [member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 184,028 | 26,061 |
Lease liabilities [member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 89 | 45,978 |
Lease liabilities [member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 105 | 36,393 |
Lease liabilities [member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 96 | 50,062 |
Lease liabilities [member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 290 | 132,433 |
Other financial liabilities [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 149,585 | 226,358 |
Other financial liabilities [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 161,021 | |
Other financial liabilities [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 5,155 | |
Other financial liabilities [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 30,969 | |
Other financial liabilities [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 25,526 | 28,888 |
Other financial liabilities [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 25,526 | 226,033 |
Other financial liabilities [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 44,933 | 83 |
Other financial liabilities [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 35,679 | 99 |
Other financial liabilities [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 43,447 | 143 |
Other financial liabilities [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 124,059 | 325 |
Total Financial Liabilities Before Interest Payment [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 50,359,462 | 43,666,351 |
Total Financial Liabilities Before Interest Payment [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 15,243,752 | 10,600,820 |
Total Financial Liabilities Before Interest Payment [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 7,821,474 | 6,641,245 |
Total Financial Liabilities Before Interest Payment [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 4,029,845 | 6,747,894 |
Total Financial Liabilities Before Interest Payment [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 3,589,746 | 5,610,834 |
Total Financial Liabilities Before Interest Payment [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 30,684,818 | 29,600,793 |
Total Financial Liabilities Before Interest Payment [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 4,714,324 | 4,439,983 |
Total Financial Liabilities Before Interest Payment [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 8,142,738 | 3,425,090 |
Total Financial Liabilities Before Interest Payment [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 6,817,583 | 6,200,485 |
Total Financial Liabilities Before Interest Payment [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 19,674,644 | 14,065,558 |
Contractual Interest Payments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 727,413 | 8,630,173 |
Contractual Interest Payments [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 86,195 | 10,473 |
Contractual Interest Payments [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 18,938 | 148,731 |
Contractual Interest Payments [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 72,710 | 267,994 |
Contractual Interest Payments [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 242,462 | 1,727,401 |
Contractual Interest Payments [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 420,305 | 2,154,599 |
Contractual Interest Payments [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 143,531 | 1,720,990 |
Contractual Interest Payments [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 137,902 | 1,653,500 |
Contractual Interest Payments [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 25,676 | 3,101,084 |
Contractual Interest Payments [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 307,109 | 6,475,574 |
Total Financial Liabilities After Interest Payment [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 51,086,875 | 52,296,524 |
Total Financial Liabilities After Interest Payment [Member] | Demand [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 15,329,947 | 10,611,293 |
Total Financial Liabilities After Interest Payment [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 7,840,412 | 6,789,976 |
Total Financial Liabilities After Interest Payment [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 4,102,555 | 7,015,888 |
Total Financial Liabilities After Interest Payment [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 3,832,208 | 7,338,235 |
Total Financial Liabilities After Interest Payment [Member] | Subtotal up to 1 year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 31,105,122 | 31,755,392 |
Total Financial Liabilities After Interest Payment [Member] | Between 1 and 3 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 4,857,855 | 6,160,973 |
Total Financial Liabilities After Interest Payment [Member] | Between 3 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 8,280,640 | 5,078,590 |
Total Financial Liabilities After Interest Payment [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 6,843,258 | 9,301,569 |
Total Financial Liabilities After Interest Payment [Member] | Due Within 1 Year [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 19,981,753 | 20,541,132 |
Performance guarantee [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,090,643 | 1,923,022 |
Performance guarantee [Member] | Up to 1 month [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 114,653 | 144,364 |
Performance guarantee [Member] | Between 1 and 3 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 181,399 | 544,370 |
Performance guarantee [Member] | Between 3 and 12 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 437,835 | 899,437 |
Performance guarantee [Member] | More than 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 6,620 | 22,292 |
Performance guarantee [Member] | Between 1 and 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 350,136 | 312,559 |
Confirmed foreign letters of credit [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 82,779 | 70,192 |
Confirmed foreign letters of credit [Member] | Up to 1 month [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 18,247 | 25,491 |
Confirmed foreign letters of credit [Member] | Between 1 and 3 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 48,056 | 1,808 |
Confirmed foreign letters of credit [Member] | Between 3 and 12 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 16,163 | 11,306 |
Confirmed foreign letters of credit [Member] | More than 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Confirmed foreign letters of credit [Member] | Between 1 and 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 313 | 31,587 |
Letters of credit issued [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 165,119 | 135,266 |
Letters of credit issued [Member] | Up to 1 month [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 42,089 | 30,555 |
Letters of credit issued [Member] | Between 1 and 3 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 83,764 | 348 |
Letters of credit issued [Member] | Between 3 and 12 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 36,201 | 33,439 |
Letters of credit issued [Member] | More than 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Letters of credit issued [Member] | Between 1 and 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 3,065 | 70,924 |
Pledges and other commercial commitments [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 441,508 | 451,751 |
Pledges and other commercial commitments [Member] | Up to 1 month [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 33,588 | 30,357 |
Pledges and other commercial commitments [Member] | Between 1 and 3 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 29,958 | 9,009 |
Pledges and other commercial commitments [Member] | Between 3 and 12 months [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 367,164 | 317,824 |
Pledges and other commercial commitments [Member] | More than 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | ||
Pledges and other commercial commitments [Member] | Between 1 and 5 years [Member] | Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | $ 10,798 | 94,561 |
Other Commercial Commitments [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 2,580,231 | |
Other Commercial Commitments [Member] | Up to 1 month [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 230,767 | |
Other Commercial Commitments [Member] | Between 1 and 3 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 555,535 | |
Other Commercial Commitments [Member] | Between 3 and 12 months [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 1,262,006 | |
Other Commercial Commitments [Member] | More than 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | 22,292 | |
Other Commercial Commitments [Member] | Between 1 and 5 years [Member] | ||
Risk Management (Details) - Schedule of breakdown by maturity [Line Items] | ||
Financial liabilities | $ 509,631 |
Risk Management (Details) - _21
Risk Management (Details) - Schedule of net losses from operational risks - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | $ 8,366 | $ 10,983 |
Fraud [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | 4,703 | 3,941 |
Labor related [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | 443 | 461 |
Client / product related [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | 250 | 653 |
Damage to fixed assets [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | (2,592) | 3,588 |
Business continuity / Systems [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | 1,570 | 234 |
Processing [Member] | ||
Risk Management (Details) - Schedule of net losses from operational risks [Line Items] | ||
Total | $ 3,992 | $ 2,106 |
Risk Management (Details) - _22
Risk Management (Details) - Schedule of levels of basic capital and effective net equity - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Schedule of levels of basic capital and effective net equity [Abstract] | ||
Basic capital | $ 3,567,916 | $ 3,390,823 |
Basic capital | 6.69% | 6.96% |
Regulatory capital | $ 5,143,843 | $ 4,304,401 |
Regulatory capital | 15.37% | 12.86% |
Non Current Assets Held for S_3
Non Current Assets Held for Sale (Details) - Schedule of other assets as assets held for sale - CLP ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Non Current Assets Held for Sale (Details) - Schedule of other assets as assets held for sale [Line Items] | ||||
Assets | [1] | $ 22,036 | $ 22,394,000 | |
Income | 1,699,000 | $ 3,771,000 | ||
Transbank S.A. [Member] | ||||
Non Current Assets Held for Sale (Details) - Schedule of other assets as assets held for sale [Line Items] | ||||
Participation % | 25.00% | |||
Assets | $ 19,093,000 | 19,093,000 | ||
Income | 1,442,000 | |||
Nexus [Member] | ||||
Non Current Assets Held for Sale (Details) - Schedule of other assets as assets held for sale [Line Items] | ||||
Participation % | ||||
Assets | 357,000 | |||
Income | 136,000 | |||
Redbanc [Member] | ||||
Non Current Assets Held for Sale (Details) - Schedule of other assets as assets held for sale [Line Items] | ||||
Participation % | 33.43% | |||
Assets | $ 2,943,000 | 2,943,000 | ||
Income | $ 121,000 | |||
[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 v) and Note 38. |
Subsequent Events (Details)
Subsequent Events (Details) - CLP ($) $ in Millions | Jan. 07, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Subsequent Events (Details) [Line Items] | |||
Cash payments | $ 665,397 | $ 861,178 | |
Central Bank of Chile announced description | The Central Bank of Chile announced on January 27, 2021, a third stage of this financing mechanism called FCIC3. FCIC 3 will come into effect on March 1, 2021 and there will be an access limit per bank of US$ 2 billion. | ||
Non-adjusting events after reporting period [member] | |||
Subsequent Events (Details) [Line Items] | |||
Cash payments | $ 3,689 | ||
Percentage of company contribution | 100.00% | ||
Non-adjusting events after reporting period [member] | Santander Asesorias Financieras Limitada [Member] | |||
Subsequent Events (Details) [Line Items] | |||
Cash payments | $ 0 | ||
Non-adjusting events after reporting period [member] | Banco Santander Brasil S,A, [Member] | |||
Subsequent Events (Details) [Line Items] | |||
Cash payments | $ 37 |