XML 224 R45.htm IDEA: XBRL DOCUMENT
v3.20.1

Related Party Transactions | 12 Months Ended
--- | ---
Dec. 31, 2019
Disclosure of transactions between related parties [abstract] |
Related Party Transactions |
| 39. | Related Party Transactions:
Related parties are considered to be those natural or legal persons who are in positions to directly or indirectly have significant influence through their ownership or management of the Bank and its subsidiaries. According to the above, the Bank has considered as related parties those natural or legal persons who have a direct participation or through third parties on bank ownership, where such participation exceeds 5% of the shares, and also people who, regardless of ownership, have authority and responsibility for planning, management and control of the activities of the entity or its subsidiaries. There also are considered as related the companies in which the parties related by ownership or management of the Bank have a share which reaches or exceeds 5%, or has the position of director, general manager or equivalent.
| (a) | Loans with related parties:
The following table details loans and accounts receivable and contingent loans, corresponding to related entities as of December 31, 2018 and 2019.
|  | Productive and Services Companies (*) |  |  | Investment Companies (**) |  |  | Individuals (***) |  |  | Total |
|  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Loans and accounts receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  | 221,351 |  |  |  | 174,370 |  |  |  | 132,366 |  |  |  | 130,237 |  |  |  | 13,183 |  |  |  | 13,563 |  |  |  | 366,900 |  |  |  | 318,170 |
Residential mortgage loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,756 |  |  |  | 58,477 |  |  |  | 44,756 |  |  |  | 58,477 |
Consumer loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,074 |  |  |  | 9,862 |  |  |  | 10,074 |  |  |  | 9,862 |
Gross loans |  |  | 221,351 |  |  |  | 174,370 |  |  |  | 132,366 |  |  |  | 130,237 |  |  |  | 68,013 |  |  |  | 81,902 |  |  |  | 421,730 |  |  |  | 386,509 |
Allowance for loan losses |  |  | (962 | ) |  |  | (782 | ) |  |  | (242 | ) |  |  | (243 | ) |  |  | (379 | ) |  |  | (889 | ) |  |  | (1,583 | ) |  |  | (1,914 | )
Net loans |  |  | 220,389 |  |  |  | 173,588 |  |  |  | 132,124 |  |  |  | 129,994 |  |  |  | 67,634 |  |  |  | 81,013 |  |  |  | 420,147 |  |  |  | 384,595 |
Contingent loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantees and sureties |  |  | 5,102 |  |  |  | 5,531 |  |  |  | 14,963 |  |  |  | 9,470 |  |  |  | — |  |  |  | — |  |  |  | 20,065 |  |  |  | 15,001 |
Letters of credits |  |  | 5,310 |  |  |  | 2,365 |  |  |  | 2,776 |  |  |  | 328 |  |  |  | — |  |  |  | — |  |  |  | 8,086 |  |  |  | 2,693 |
Foreign letters of credits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Banks guarantees |  |  | 45,842 |  |  |  | 32,650 |  |  |  | 30,122 |  |  |  | 43,478 |  |  |  | — |  |  |  | 57 |  |  |  | 75,964 |  |  |  | 76,185 |
Undrawn credit lines |  |  | 58,041 |  |  |  | 52,916 |  |  |  | 14,674 |  |  |  | 14,364 |  |  |  | 19,160 |  |  |  | 21,519 |  |  |  | 91,875 |  |  |  | 88,799 |
Other contingencies loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total contingent loans |  |  | 114,295 |  |  |  | 93,462 |  |  |  | 62,535 |  |  |  | 67,640 |  |  |  | 19,160 |  |  |  | 21,576 |  |  |  | 195,990 |  |  |  | 182,678 |
Provision for contingencies loans |  |  | (258 | ) |  |  | (214 | ) |  |  | (99 | ) |  |  | (52 | ) |  |  | (30 | ) |  |  | (37 | ) |  |  | (387 | ) |  |  | (303 | )
Contingent loans, net |  |  | 114,037 |  |  |  | 93,248 |  |  |  | 62,436 |  |  |  | 67,588 |  |  |  | 19,130 |  |  |  | 21,539 |  |  |  | 195,603 |  |  |  | 182,375 |
Amount covered by guarantee: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 28,208 |  |  |  | 30,807 |  |  |  | 52,108 |  |  |  | 57,456 |  |  |  | 69,292 |  |  |  | 69,165 |  |  |  | 149,608 |  |  |  | 157,428 |
Warrant |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Pledge |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Others (****) |  |  | 47,135 |  |  |  | 37,794 |  |  |  | 13,219 |  |  |  | 12,921 |  |  |  | 3,694 |  |  |  | 5,250 |  |  |  | 64,048 |  |  |  | 55,965 |
Total collateral |  |  | 75,343 |  |  |  | 68,601 |  |  |  | 65,327 |  |  |  | 70,377 |  |  |  | 72,986 |  |  |  | 74,415 |  |  |  | 213,656 |  |  |  | 213,393 |
| (*) | For these effects are considered productive companies, those that meet the following conditions:
| (i) | They engage in operating activities and generate a separable flow of income;
| (ii) | Less than 50% of their assets are trading securities or investments.
Service companies are considered entities whose main purpose is oriented to rendering services to third parties.
| (**) | Investment companies include those legal entities that do not comply with the conditions for operating companies and are profit-oriented.
| (***) | Individuals include key members of the management and correspond to those who directly or indirectly have authority and responsibility for planning, administrating and controlling the activities of the organization, including directors. This category also includes their family members who influence or are influenced by such individuals in their interactions with the organization.
| (****) | These guarantees correspond mainly to shares and other financial guarantees.
| (b) | Other assets and liabilities with related parties as of December 31, 2018 and 2019:
|  | 2018 |  |  | 2019 |
|  | MCh$ |  |  | MCh$ |
Assets |  |  |  |  |  |
Cash and due from banks |  |  | 23,086 |  |  |  | 99,802 |
Transactions in the course of collection |  |  | 35,469 |  |  |  | 63,969 |
Financial assets held-for-trading |  |  | 205 |  |  |  | 880 |
Derivative instruments |  |  | 415,683 |  |  |  | 495,378 |
Investment instruments |  |  | 14,690 |  |  |  | 12,141 |
Other assets |  |  | 80,569 |  |  |  | 76,548 |
Total |  |  | 569,702 |  |  |  | 748,718 |
Liabilities |  |  |  |  |  |  |  |
Demand deposits |  |  | 169,607 |  |  |  | 227,377 |
Transactions in the course of payment |  |  | 58,987 |  |  |  | 16,202 |
Obligations under repurchase agreements |  |  | 84,465 |  |  |  | 54,030 |
Savings accounts and time deposits |  |  | 219,322 |  |  |  | 396,028 |
Derivative instruments |  |  | 337,299 |  |  |  | 432,669 |
Borrowings from financial institutions |  |  | 228,269 |  |  |  | 292,172 |
Lease liabilities |  |  | ― |  |  |  | 5,138 |
Other liabilities |  |  | 115,145 |  |  |  | 151,335 |
Total |  |  | 1,213,094 |  |  |  | 1,574,951 |
| (c) | Income and expenses from related party transactions during the year ended December 31, 2017, 2018 and 2019:
|  | 2017 |  |  | 2018 |  |  | 2019 |
Type of income or expense recognized |  | Income MCh$ |  |  | Expense MCh$ |  |  | Income MCh$ |  |  | Expense MCh$ |  |  | Income MCh$ |  |  | Expense MCh$ |
Interest and revenue expenses |  |  | 26,485 |  |  |  | 9,332 |  |  |  | 21,736 |  |  |  | 7,196 |  |  |  | 19,039 |  |  |  | 2,619 |
Fees and commission income |  |  | 65,995 |  |  |  | 69,843 |  |  |  | 70,286 |  |  |  | 74,205 |  |  |  | 72,931 |  |  |  | 65,383 |
Net financial operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments (*) |  |  | 33,540 |  |  |  | 97,416 |  |  |  | 85,500 |  |  |  | 42,365 |  |  |  | 124,967 |  |  |  | 73,252 |
Other financial operations |  |  | 1 |  |  |  | ― |  |  |  | ― |  |  |  | ― |  |  |  | 87 |  |  |  | 119 |
Release or established of provision for credit risk |  |  | ― |  |  |  | 252 |  |  |  | ― |  |  |  | 34 |  |  |  | ― |  |  |  | 106 |
Operating expenses |  |  | ― |  |  |  | 100,389 |  |  |  | ― |  |  |  | 105,734 |  |  |  | ― |  |  |  | 120,559 |
Other income and expenses |  |  | 3,723 |  |  |  | 56 |  |  |  | 446 |  |  |  | 45 |  |  |  | 542 |  |  |  | 26 |
| (*) | The outcome of derivative operations is presented net at each related counterparty level. Additionally, this line includes operations with local counterpart banks (unrelated) which have been novated by Comder Contraparte Central S.A. (Related entity) for centralized clearing purposes, which generated a net gain of Ch$123,461 million as of December 31, 2019 (net gain of Ch$71,297 million as of December 31, 2018 and net loss of Ch$96,075 as of December 31, 2017).
| (d) | Directors’ expenses and remunerations and payments to key management personnel:
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Personnel remunerations |  |  | 4,149 |  |  |  | 3,926 |  |  |  | 4,148 |
Short-term benefits |  |  | 3,302 |  |  |  | 3,476 |  |  |  | 3,255 |
Severance pay |  |  | 276 |  |  |  | 1,037 |  |  |  | 1,264 |
Directors’ remunerations and fees (*) |  |  | 2,505 |  |  |  | 2,511 |  |  |  | 2,509 |
Total |  |  | 10,232 |  |  |  | 10,950 |  |  |  | 11,176 |
| (*) | It includes fees paid to members of the Advisory Committee of Banchile Corredores de Seguros Ltda, of Ch$13 million (Ch$12 million in December 2018 and Ch$18 in December 2017).
Fees paid to the advisors of the Board of Directors amount to Ch$90 million (Ch$206 million in December 2018 and Ch$334 in December 2017) and travel and other related expenses amount to Ch$104 million (Ch$92 million in December 2018 and Ch$116 in December 2017). Composition of key personnel:
|  | N° of executives |
Position |  | 2018 |  |  | 2019 |
CEO |  |  | 1 |  |  |  | 1 |
CEOs of subsidiaries |  |  | 6 |  |  |  | 6 |
Division Managers |  |  | 13 |  |  |  | 13 |
Directors Bank and subsidiaries |  |  | 20 |  |  |  | 21 |
Total |  |  | 40 |  |  |  | 41 |

X
- Definition The entire disclosure for related parties. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2019-01-01 -Section Disclosures -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=24&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IAS24_g13-24_TI -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfRelatedPartyExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration