13. Investments in Other Companies:

(a) This item includes investments in other companies for an amount of Ch$30,314 million and Ch$35,771 million as of December 31, 2016 and 2017, respectively, detailed as follows:

						Investment
		Ownership Interest		Equity		Book Value		Income (Loss) (*)
		December	December	December	December	December	December	December	December
Company	Shareholder	2016	2017	2016	2017	2016	2017	2016	2017
		%	%	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$
Associates
Transbank S.A.	Banco de Chile	26.16	26.16	49,518	56,804	12,954	15,070	1,363	2,117
Soc. Operadora de Tarjetas de Crédito Nexus S.A.	Banco de Chile	25.81	25.81	10,809	13,781	2,789	3,822	493	884
Administrador Financiero del Transantiago S.A.	Banco de Chile	20.00	20.00	13,907	15,490	2,782	3,098	230	317
Redbanc S.A.	Banco de Chile	38.13	38.13	6,422	7,484	2,449	2,894	425	403
Centro de Compensación Automatizado S.A.	Banco de Chile	33.33	33.33	3,985	4,696	1,328	1,589	248	236
Sociedad Imerc OTC S.A.	Banco de Chile	12.33	12.33	10,991	11,490	1,347	1,417	135	66
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile	26.81	26.81	3,101	3,659	831	995	175	215
Soc. Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile	15.00	15.00	5,472	5,838	821	908	100	66

Subtotal				104,205	119,242	25,301	29,793	3,169	4,304


Joint Venture
Servipag Ltda.	Banco de Chile	50.00	50.00	8,596	9,997	4,298	4,999	409	700
Artikos Chile S.A.	Banco de Chile	50.00	50.00	1,431	1,654	715	979	441	507

Subtotal				10,027	11,651	5,013	5,978	850	1,207


Total				114,232	130,893	30,314	35,771	4,019	5,511

(*) The year 2016 does not include a loss of Ch$5 million recognized by the subsidiary Banchile Asesoría Financiera for its investment held in the subsidiary Promarket S.A., which was dissolved on December 30, 2016.

(b) The total carrying amount of the Bank’s associates is explained as follows:

	2016
Associate’s statement of financial position	Centro de Compensación Automatizado S.A.		Soc. Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.		Soc. Operadora de Tarjetas de Crédito Nexus S.A.		Sociedad Interbancaria de Depósitos de Valores S.A.		Redbanc S.A.		Transbank S.A.		Administrador Financiero del Transantiago S.A.		Sociedad Imerc OTC S.A.		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Current assets	1,748		5,731		10,915		71		4,642		647,384		51,803		21,722		744,016
Non-current assets	3,760		368		19,123		3,133		15,285		63,091		819		7,536		113,115

Total Assets	5,508		6,099		30,038		3,204		19,927		710,475		52,622		29,258		857,131


Current liabilities	1,146		627		15,141		103		7,884		660,720		37,912		15,192		738,725
Non-current liabilities	377		—		4,088		—		5,621		237		803		3,066		14,192

Total Liabilities	1,523		627		19,229		103		13,505		660,957		38,715		18,258		752,917
Equity	3,985		5,472		10,809		3,101		6,422		49,518		13,907		10,991		104,205
Minority interest	—		—		—		—		—		—		—		9		9

Total Liabilities and Equity	5,508		6,099		30,038		3,204		19,927		710,475		52,622		29,258		857,131


Associate’s revenue and profit
Revenue	2,138		3,142		48,150		2		33,603		156,207		3,292		6,260		252,794
Operating expenses	(1,165	)	(2,497	)	(45,658	)	(30	)	(31,686	)	(150,785	)	(2,142	)	(4,953	)	(238,916	)
Other income (expenses)	(28	)	168		(121	)	694		(446	)	1,047		624		12		1,950

Income (loss) before taxes	945		813		2,371		666		1,471		6,469		1,774		1,319		15,828
Income tax	(201	)	(156	)	(460	)	—		(356	)	(1,260	)	(624	)	(225	)	(3,282	)

Net income for the year	744		657		1,911		666		1,115		5,209		1,150		1,094		12,546

	2017
Associate’s statement of financial position	Centro de Compensación Automatizado S.A.		Soc. Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.		Soc. Operadora de Tarjetas de Crédito Nexus S.A.		Sociedad Interbancaria de Depósitos de Valores S.A.		Redbanc S.A.		Transbank S.A.		Administrador Financiero del Transantiago S.A.		Sociedad Imerc OTC S.A.		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Current assets	2,351		5,114		11,114		51		6,371		744,681		50,474		11,270		831,426
Non-current assets	4,520		1,224		21,555		3,669		14,864		76,097		830		6,643		129,402

Total Assets	6,871		6,338		32,669		3,720		21,235		820,778		51,304		17,913		960,828


Current liabilities	1,826		500		13,735		61		8,702		763,236		34,896		3,302		826,258
Non-current liabilities	349		—		5,153		—		5,049		738		918		3,112		15,319

Total Liabilities	2,175		500		18,888		61		13,751		763,974		35,814		6,414		841,577
Equity	4,696		5,838		13,781		3,659		7,484		56,804		15,490		11,490		119,242
Minority interest	—		—		—		—		—		—		—		9		9

Total Liabilities and Equity	6,871		6,338		32,669		3,720		21,235		820,778		51,304		17,913		960,828


Associate’s revenue and profit
Revenue	2,275		3,086		49,403		9		34,083		175,975		3,358		6,315		274,504
Operating expenses	(1,359	)	(2,666	)	(44,664	)	(33	)	(32,334	)	(167,052	)	(1,998	)	(5,281	)	(255,387	)
Other income (expenses)	—		141		(187	)	826		(339	)	1,625		649		88		2,803

Income (loss) before taxes	916		561		4,552		802		1,410		10,548		2,009		1,122		21,920
Income tax	(208	)	(122	)	(1,125	)	—		(354	)	(2,453	)	(426	)	(586	)	(5,274	)

Net income for the year	708		439		3,427		802		1,056		8,095		1,583		536		16,646

The Bank has a 50% interest in Servipag Ltda. and a 50% interest in Artikos S.A., two jointly controlled entities. The Bank’s interest in both entities is accounted for using the equity method in the consolidated financial statements.

Below it presents summarized financial information of entities controlled jointly:

	Artikos S.A.				Servipag Ltda.
	2016		2017		2016		2017
	MCh$		MCh$		MCh$		MCh$
Current assets	1,150		1,231		49,477		56,188
Non-current assets	1,028		1,246		17,350		16,669

Total Assets	2,178		2,477		66,827		72,857


Current liabilities	747		823		53,545		56,397
Non-current liabilities	—		—		4,686		6,463

Total Liabilities	747		823		58,231		62,860


Equity	1,431		1,654		8,596		9,997

Total Liabilities and Equity	2,178		2,477		66,827		72,857


Revenue	2,751		3,194		39,587		40,580
Operating expenses	(2,072	)	(2,352	)	(38,124	)	(38,401	)
Other income (expenses)	23		17		(542	)	(473	)

Profit before tax	702		859		921		1,706
Income tax	180		154		(103	)	(305	)

Profit for the year	882		1,013		818		1,401

(d) The reconciliation between opening and ending balance of investments in other companies that are not consolidated in 2015, 2016 and 2017 is detailed as follows:

	2015		2016		2017
	MCh$		MCh$		MCh$
Balance as of January 1,	23,043		25,849		30,314
Capital increase	314		1,129		—
Participation in net income	3,243		4,019		5,511
Dividends received	(663	)	(667	)	(484	)
Other	(88	)	(16	)	430

Balance as of December 31,	25,849		30,314		35,771

(e) As of December 31, 2016 and 2017, no impairment has been incurred in these investments.