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Property and Equipment and Leased Assets and Lease Liabilities

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about property, plant and equipment [Abstract]

Property and Equipment and Leased Assets and Lease Liabilities

15.

Property and Equipment and Leased Assets and Lease Liabilities:

(a)

The properties and equipment as of December 31, 2019 and 2020 are composed as follows:

	Useful Life		Average remaining depreciation		Gross balance				Accumulated Depreciation						Net balance
	2019	2020	2019	2020	2019		2020		2019			2020			2019		2020
	Years	Years	Years	Years	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Type of property and equipment:
Land and Buildings	26	26	21	20		301,619		304,951		(136,394	)		(142,543	)		165,225		162,408
Equipment	5	5	4	4		207,605		222,624		(162,560	)		(175,141	)		45,045		47,483
Others	7	7	4	4		55,519		55,898		(45,527	)		(47,861	)		9,992		8,037
Total						564,743		583,473		(344,481	)		(365,545	)		220,262		217,928

(b)

As of December 31, 2019 and 2020, this account and its changes are detailed as follows:

	Land and Buildings			Equipment			Other			Total
	MCh$			MCh$			MCh$			MCh$
(a.1) Cost

Balance as of January 1, 2019		320,585			183,220			53,500			557,305
Reclassification		(25,654	)		(37	)		—			(25,691	)
Additions		12,555			28,118			2,839			43,512
Write-down and sales of the year		(5,437	)		(3,115	)		(762	)		(9,314	)
Impairment loss () (**)		(430	)		(581	)		(58	)		(1,069	)
Balance as of December 31, 2019		301,619			207,605			55,519			564,743

Balance as of January 1, 2020		301,619			207,605			55,519			564,743
Additions		6,303			20,658			1,510			28,471
Write-down and sales of the year		(2,903	)		(5,606	)		(1,105	)		(9,614	)
Impairment loss () (**)		(68	)		(33	)		(26	)		(127	)
Balance as of December 31, 2020		304,951			222,624			55,898			583,473

(a.2) Accumulated Depreciation

Balance as of January 1, 2019		(150,099	)		(148,455	)		(42,879	)		(341,433	)
Reclassification		21,278			37			—			21,315
Depreciation charges of the year () (*)		(8,613	)		(16,819	)		(3,403	)		(28,835	)
Write-down and sales of the year		1,040			2,692			740			4,472
Transfers		—			(15	)		15			—
Accumulated Depreciation as of December 31, 2019		(136,394	)		(162,560	)		(45,527	)		(344,481	)

Balance as of January 1, 2020		(136,394	)		(162,560	)		(45,527	)		(344,481	)
Depreciation charges of the year () (*)		(8,844	)		(17,273	)		(3,371	)		(29,488	)
Write-down and sales of the year		2,695			4,692			1,025			8,412
Impairment () (**)		—			—			12			12
Accumulated Depreciation as of December 31, 2020		(142,543	)		(175,141	)		(47,861	)		(365,545	)

(*)

See Note No. 36 about Depreciation, Amortization and Impairment.

(**)

It does not include depreciation for the year for Investment Properties, which it registered under the item “Investment Properties” for an amount of Ch$357 million (Ch$359 million in 2019).

(***)

This amount does not include charge-offs of Property and Equipment of Ch$916 million (Ch$949 million as of December 2019).

(c)

The composition of the rights over leased assets as of December 31, 2019 and 2020 is as follows:

	Gross Balance				Accumulated Depreciation						Net Balance
	December		December		December			December			December		December
	2019		2020		2019			2020			2019		2020
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Categories
Buildings		130,853		123,215		(18,722	)		(33,560	)		112,131		89,655
Floor space for ATMs		41,960		40,445		(9,091	)		(16,496	)		32,869		23,949
Improvements to leased properties		27,254		26,579		(21,589	)		(21,354	)		5,665		5,225
Total		200,067		190,239		(49,402	)		(71,410	)		150,665		118,829

(d)

The changes of the rights over leased assets as of December 31, 2019 and 2020 is as follows:

	2019
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2019		116,577			27,920			—			144,497
Reclassification		—			—			26,332			26,332
Additions		14,276			14,040			1,725			30,041
Write-downs		—			—			(803	)		(803	)
Total		130,853			41,960			27,254			200,067

Accumulated Depreciation
Balance as of January 1, 2019		—			—			—			—
Reclassification		—			—			(21,546	)		(21,546	)
Depreciation of the year (*)		(18,722	)		(9,091	)		(659	)		(28,472	)
Write-downs		—			—			616			616
Total		(18,722	)		(9,091	)		(21,589	)		(49,402	)

Balance as of December 31, 2019		112,131			32,869			5,665			150,665

(*)

See Note No.36 Depreciation, Amortization and Impairment.

	2020
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2020		130,853			41,960			27,254			200,067
Additions		7,907			1,319			847			10,073
Write-downs (*)		(15,538	)		(1,197	)		(1,522	)		(18,257	)
Remeasurement		(7	)		(1,637	)		—			(1,644	)
Total		123,215			40,445			26,579			190,239

Accumulated Depreciation
Balance as of January 1, 2020		(18,722	)		(9,091	)		(21,589	)		(49,402	)
Depreciation of the year (*)		(18,867	)		(7,774	)		(1,006	)		(27,647	)
Write-downs (*)		4,029			369			1,241			5,639
Total		(33,560	)		(16,496	)		(21,354	)		(71,410	)

Balance as of December 31, 2020		89,655			23,949			5,225			118,829

(*)

See Note No.36 Depreciation, Amortization and Impairment. Does not include provision for impairment of Ch$1 million

(e)

The following are the future maturities of the lease liabilities as of December 31, 2019 and 2020:

	December 2019
	Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
Lease associated with:	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Buildings		1,726		3,519		15,286		37,063		24,899		38,526		121,019
ATMs		809		1,618		7,131		18,125		5,403		679		33,765
Total		2,535		5,137		22,417		55,188		30,302		39,205		154,784

	December 2020
	Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
Lease associated with:	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Buildings		1,646		3,371		14,501		28,663		20,869		30,865		99,915
ATMs		824		1,644		7,229		14,467		419		483		25,066
Total		2,470		5,015		21,730		43,130		21,288		31,348		124,981

The Bank and its subsidiaries maintain contracts with certain renewal options and for which there is reasonable certainty that said option shall be carried out. In such cases, the lease period used to measure the liability and assets corresponds to an estimate of future renewals.

The changes of the obligations under capitalized leases and cash flows are as follows:

	Total cash flow for the year
Lease liability	MCh$
Balances as of January 1, 2019		144,497
Liabilities for new lease agreements		24,431
Interest expenses		2,574
Payments of capital and interests		(29,374	)
Others		3,885
Balances as of December 31, 2019		146,013

Balances as of January 1, 2020		146,013
Liabilities for new lease agreements		5,768
Interest expenses		2,532
Payments of capital and interests		(28,705	)
Remeasurement		(1,644	)
Derecognized contracts		(12,337	)
Others		3,390
Balances as of December 31, 2020		115,017

(f)

The future cash flows related to short-term lease agreements in effect as of December 31, 2020 correspond to Ch$6,814 million (Ch$8,611 as of December 31, 2019).