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Hedge accounting (Tables)
 12 Months Ended
Dec. 31, 2024
Hedge Accounting  
Schedule of each strategy of nominal value and fair value adjustments of hedge instruments and book value of hedged Item
               
Strategies Heading 12/31/2024
Hedged item   Hedge instrument
Book Value Variation in value recognized in Other comprehensive income Cash flow hedge reserve   Notional Amount Variation in fair value used to calculate hedge ineffectiveness 
Assets Liabilities  
Interest rate risk                
Hedge of deposits and repurchase agreements Securities sold under agreements to resell - 110,405 2,672 2,672   107,677 2,728
Hedge of assets transactions Loans and lease operations and Securities 2,420 - (155) (155)   1,966 (155)
Hedge of asset-backed securities under repurchase agreements Securities purchased under agreements to resell 66,795 - (3,428) (3,429)   63,261 (3,428)
Hedge of loan operations Loans and lease operations 10,955 - 44 59   10,910 44
Hedge of funding Deposits - 9,732 3 (61)   9,735 3
Hedge of assets denominated in UF Securities 39,842 - (54) (54)   39,894 (54)
Foreign exchange risk                
Hedge of highly probable forecast transactions   - 1,606 (193) (90)   1,437 (193)
Hedge of funding Deposits - 1,176 (11) (11)   1,165 (11)
Total   120,012 122,919 (1,122) (1,069)   236,045 (1,066)

 

Strategies Heading 12/31/2023
Hedged item   Hedge instrument
Book Value Variation in value recognized in Other comprehensive income Cash flow hedge reserve   Notional Amount Variation in fair value used to calculate hedge ineffectiveness 
Assets Liabilities  
Interest rate risk                
Hedge of deposits and repurchase agreements Securities sold under agreements to resell - 119,464 (1,086) (1,070)   120,550 (1,086)
Hedge of assets transactions Loans and lease operations and Securities 7,395 - (4) (4)   7,394 (4)
Hedge of asset-backed securities under repurchase agreements Securities purchased under agreements to resell 41,761 - 1,132 830   42,570 1,132
Hedge of loan operations Loans and lease operations 18,449 - 185 211   18,265 184
Hedge of funding Deposits - 5,993 (95) (162)   5,899 (95)
Hedge of assets denominated in UF Securities 10,664 - 21 21   10,704 21
Foreign exchange risk                
Hedge of highly probable forecast transactions   - 1,287 35 195   1,323 35
Hedge of funding Deposits - 2,300 (12) (12)   2,288 (12)
Total   78,269 129,044 176 9   208,993 175
Schedule of hedge accounting
             
Hedge Instruments 12/31/2024
Notional amount Book Value (1) Variations in fair value used to calculate hedge ineffectiveness Variation in value  recognized in Other comprehensive income  Hedge ineffectiveness recognized in income Amount reclassified from Cash flow hedge reserve to income
Assets Liabilities
Interest rate risk              
Futures 172,904 76 133 (855) (911) 56 (285)
Forward 33,218 - 132 (45) (45) - -
Swaps 27,321 106 31 38 38 - (59)
Foreign exchange risk              
Futures 1,186 4 - (181) (181) - (3)
Forward 1,416 34 15 (23) (23) - -
Total 236,045 220 311 (1,066) (1,122) 56 (347)

 

Hedge Instruments 12/31/2023
Notional amount Book Value (1) Variations in fair value used to calculate hedge ineffectiveness Variation in value recognized in Other comprehensive income  Hedge ineffectiveness recognized in income Amount reclassified from Cash flow hedge reserve to income
Assets Liabilities
Interest rate risk              
Futures 170,514 53 43 42 42 - (168)
Forward 10,582 44 - 21 21 - 4
Swaps 24,286 179 101 89 90 (1) (1)
Foreign exchange risk              
Futures 1,278 - 7 36 36 - (9)
Forward 2,333 - 276 (13) (13) - -
Total 208,993 276 427 175 176 (1) (174)
1)   Amounts recorded under heading Derivatives.
Schedule of net investment in foreign operations
             
Strategies 12/31/2024
Hedged item   Hedge instrument
Book Value (2) Variation in value recognized in Other comprehensive income Foreign currency conversion reserve   Notional amount Variation in fair value used to calculate hedge ineffectiveness
Assets Liabilities  
Foreign exchange risk              
Hedge of net investment in foreign operations (1) 23,701 - (17,404) (17,404)   19,363 (17,428)
Total 23,701 - (17,404) (17,404)   19,363 (17,428)

Strategies 12/31/2023
Hedged item   Hedge instrument
Book Value (2) Variation in value recognized in Other comprehensive income Foreign currency conversion reserve   Notional amount Variation in fair value used to calculate hedge ineffectiveness
Assets Liabilities  
Foreign exchange risk              
Hedge of net investment in foreign operations (1) 18,849 - (13,986) (13,986)   19,208 (14,210)
Total 18,849 - (13,986) (13,986)   19,208 (14,210)
1)   Hedge instruments consider the gross tax position.
2)   Amounts recorded under heading Derivatives.
Schedule of hedge instruments
             
Hedge instruments 12/31/2024
Notional amount Book Value (1) Variations in fair value used to calculate hedge ineffectiveness Variation in the value recognized in Other comprehensive income Hedge ineffectiveness recognized in income Amount reclassified from foreign currency conversion reserve into income
Assets Liabilities
Foreign exchange risk              
Future 5,234 21 - (6,093) (6,053) (40) -
Future / NDF - Non Deliverable Forward 7,933 129 107 (2,640) (2,610) (30) (1)
Future / Financial Assets 6,196 6,490 1,961 (8,695) (8,741) 46 -
Total 19,363 6,640 2,068 (17,428) (17,404) (24) (1)

 

Hedge instruments 12/31/2023
Notional amount Book Value (1) Variations in fair value used to calculate hedge ineffectiveness Variation in the value recognized in Other comprehensive income Hedge ineffectiveness recognized in income Amount reclassified from foreign currency conversion reserve into income
Assets Liabilities
Foreign exchange risk              
Future 2,109 10 - (5,638) (5,596) (42) 136
Future / NDF - Non Deliverable Forward 12,539 120 57 (4,951) (4,733) (218) (104)
Future / Financial Assets 4,560 5,525 350 (3,621) (3,657) 36 -
Total 19,208 5,655 407 (14,210) (13,986) (224) 32
1)   Amounts recorded under heading Derivatives.
Schedule of the effect of hedge accounting on the financial position and performance
               
Strategies 12/31/2024
Hedge Item   Hedge Instruments
Book Value (1) Fair Value Variation in fair value recognized in income   Notional amount Variation in fair value used to calculate hedge ineffectiveness
Assets Liabilities Assets Liabilities  
Interest rate risk                
Hedge of loan operations 37,116 - 37,423 - 307   37,116 (304)
Hedge of funding - 25,287 - 25,088 199   25,287 (199)
Hedge of securities 38,527 - 38,313 - (214)   38,743 214
Foreign exchange risk                
Hedge of firm commitments - 90 - 112 (22)   297 22
Total 75,643 25,377 75,736 25,200 270   101,443 (267)

 

                 
Strategies 12/31/2023
Hedge Item   Hedge Instruments
Book Value (1) Fair Value Variation in fair value recognized in income   Notional amount Variation in fair value used to calculate hedge ineffectiveness
Assets Liabilities Assets Liabilities  
Interest rate risk                
Hedge of loan operations 12,592 - 12,597 - 5   12,589 (5)
Hedge of funding - 16,304 - 16,185 119   16,304 (120)
Hedge of securities 25,179 - 25,386 - 207   25,105 (197)
Foreign exchange risk                
Hedge of firm commitments - 265 - 269 (4)   245 4
Total 37,771 16,569 37,983 16,454 327   54,243 (318)
1)   Amounts recorded under heading Deposits, Securities, Funds from Interbank Markets and Loan and Lease Operations.
Schedule of management strategy guidelines
         
Hedge Instruments 12/31/2024
Notional amount Book value (1) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income
Assets Liabilities
Interest rate risk          
Swaps 90,201 1,557 737 (328) 8
Futures 10,945 17 - 39 (5)
Foreign exchange risk          
Futures 297 - - 22 -
Total 101,443 1,574 737 (267) 3

 

           
Hedge Instruments 12/31/2023
Notional amount Book value (1) Variation in fair value used to calculate hedge ineffectiveness Hedge ineffectiveness recognized in income
Assets Liabilities
Interest rate risk          
Swaps 45,430 893 563 (331) 7
Futures 8,568 62 - 9 2
Foreign exchange risk          
Futures 245 1 - 4 -
Total 54,243 956 563 (318) 9
1)   Amounts recorded under heading Derivatives.
Schedule of breakdown by maturity of hedging strategies
             
  12/31/2024   12/31/2023
Hedge instruments Hedged item   Hedge instruments Hedged item
Notional amount Fair value adjustments Book Value   Notional amount Fair value adjustments Book Value
Hedge of deposits and repurchase agreements 107,677 76 110,405   120,550 53 119,464
Hedge of highly probable forecast transactions 1,437 (11) 1,606   1,323 (8) 1,287
Hedge of net investment in foreign operations 19,363 4,572 23,701   19,208 5,248 18,849
Hedge of loan operations (Fair value) 37,116 333 37,116   12,589 430 12,592
Hedge of loan operations (Cash flow) 10,910 54 10,955   18,265 130 18,449
Hedge of funding (Fair value) 25,287 (294) 25,287   16,304 (299) 16,304
Hedge of funding (Cash flow) 10,900 82 10,908   8,187 (328) 8,293
Hedge of assets transactions 1,966 (10) 2,420   7,394 - 7,395
Hedge of asset-backed securities under repurchase agreements 63,261 (123) 66,795   42,570 (43) 41,761
Hedge of assets denominated in UF 39,894 (159) 39,842   10,704 45 10,664
Hedge of securities 38,743 798 38,527   25,105 261 25,179
Hedge of firm commitments 297 - 90   245 1 265
Total   5,318       5,490  

The table below shows the breakdown by maturity of the hedging strategies: 

               
  12/31/2024
  0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total
Hedge of deposits and repurchase agreements 67,617 27,835 9,146 1,467 1,174 438 - 107,677
Hedge of highly probable forecast transactions 1,437 - - - - - - 1,437
Hedge of net investment in foreign operations (1) 19,363 - - - - - - 19,363
Hedge of loan operations (Fair value) 8,227 12,446 6,090 4,334 4,092 1,647 280 37,116
Hedge of loan operations (Cash flow) 7,310 1,148 746 1,272 434 - - 10,910
Hedge of funding (Fair value) 12,942 3,574 535 1,556 2,930 3,328 422 25,287
Hedge of funding (Cash flow) 9,404 504 - 126 415 451 - 10,900
Hedge of assets transactions - - 1,247 719 - - - 1,966
Hedge of asset-backed securities under repurchase agreements 22,629 15,489 17,016 5,170 2,957 - - 63,261
Hedge of assets denominated in UF 16,801 23,093 - - - - - 39,894
Hedge of securities 12,256 8,639 3,741 4,384 2,965 5,251 1,507 38,743
Hedge of firm commitments (Fair value) 297 - - - - - - 297
Total 178,283 92,728 38,521 19,028 14,967 11,115 2,209 356,851

 

                 
  12/31/2023
  0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total
Hedge of deposits and repurchase agreements 78,786 17,167 12,556 8,672 1,562 1,807 - 120,550
Hedge of highly probable forecast transactions 1,323 - - - - - - 1,323
Hedge of net investment in foreign operations (1) 19,208 - - - - - - 19,208
Hedge of loan operations (Fair value) 2,230 2,173 3,114 1,577 2,523 972 - 12,589
Hedge of loan operations (Cash flow) 10,353 5,376 1,280 - 1,256 - - 18,265
Hedge of funding (Fair value) 6,133 2,575 1,048 532 734 4,979 303 16,304
Hedge of funding (Cash flow) 2,288 2,008 - 678 2,833 380 - 8,187
Hedge of assets transactions 7,394 - - - - - - 7,394
Hedge of asset-backed securities under repurchase agreements - 20,813 10,624 11,133 - - - 42,570
Hedge of assets denominated in UF 10,704 - - - - - - 10,704
Hedge of securities 7,894 5,538 2,714 1,345 3,179 3,655 780 25,105
Hedge of firm commitments (Fair value) 245 - - - - - - 245
Total 146,558 55,650 31,336 23,937 12,087 11,793 1,083 282,444
1)   Classified as current, since instruments are frequently renewed.
Schedule of breakdown by maturity of hedging strategies
               
  12/31/2024
  0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total
Hedge of deposits and repurchase agreements 67,617 27,835 9,146 1,467 1,174 438 - 107,677
Hedge of highly probable forecast transactions 1,437 - - - - - - 1,437
Hedge of net investment in foreign operations (1) 19,363 - - - - - - 19,363
Hedge of loan operations (Fair value) 8,227 12,446 6,090 4,334 4,092 1,647 280 37,116
Hedge of loan operations (Cash flow) 7,310 1,148 746 1,272 434 - - 10,910
Hedge of funding (Fair value) 12,942 3,574 535 1,556 2,930 3,328 422 25,287
Hedge of funding (Cash flow) 9,404 504 - 126 415 451 - 10,900
Hedge of assets transactions - - 1,247 719 - - - 1,966
Hedge of asset-backed securities under repurchase agreements 22,629 15,489 17,016 5,170 2,957 - - 63,261
Hedge of assets denominated in UF 16,801 23,093 - - - - - 39,894
Hedge of securities 12,256 8,639 3,741 4,384 2,965 5,251 1,507 38,743
Hedge of firm commitments (Fair value) 297 - - - - - - 297
Total 178,283 92,728 38,521 19,028 14,967 11,115 2,209 356,851

 

                 
  12/31/2023
  0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years Over 10 years Total
Hedge of deposits and repurchase agreements 78,786 17,167 12,556 8,672 1,562 1,807 - 120,550
Hedge of highly probable forecast transactions 1,323 - - - - - - 1,323
Hedge of net investment in foreign operations (1) 19,208 - - - - - - 19,208
Hedge of loan operations (Fair value) 2,230 2,173 3,114 1,577 2,523 972 - 12,589
Hedge of loan operations (Cash flow) 10,353 5,376 1,280 - 1,256 - - 18,265
Hedge of funding (Fair value) 6,133 2,575 1,048 532 734 4,979 303 16,304
Hedge of funding (Cash flow) 2,288 2,008 - 678 2,833 380 - 8,187
Hedge of assets transactions 7,394 - - - - - - 7,394
Hedge of asset-backed securities under repurchase agreements - 20,813 10,624 11,133 - - - 42,570
Hedge of assets denominated in UF 10,704 - - - - - - 10,704
Hedge of securities 7,894 5,538 2,714 1,345 3,179 3,655 780 25,105
Hedge of firm commitments (Fair value) 245 - - - - - - 245
Total 146,558 55,650 31,336 23,937 12,087 11,793 1,083 282,444
1)   Classified as current, since instruments are frequently renewed.