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Employee Benefits | 12 Months Ended
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Dec. 31, 2021
Disclosure of employee benefits [text block] [Abstract] |
Employee Benefits |
| 26. | Employee Benefits:
| (a) | Provisions for personnel benefits and payroll:
|  | 2020 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |
Short-term personnel benefits (a.2) |  |  | 43,941 |  |  |  | 53,069 |
Vacation accrual (a.3) |  |  | 33,993 |  |  |  | 37,010 |
Other Benefits |  |  | 25,728 |  |  |  | 10,438 |
Employee defined benefit plan (a.1)(*) |  |  | 7,581 |  |  |  | 6,446 |
Total |  |  | 111,243 |  |  |  | 106,963 |
| (*) | See Note No. 2 (x) (iii).
| (a.1) | Employee defined benefit plan:
|  | 2020 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |
Current service cost |  |  | 367 |  |  |  | 226 |
Interest cost on benefit obligation |  |  | 160 |  |  |  | 364 |
Actuarial gains and losses |  |  | 91 |  |  |  | (523 | )
Net benefit expense |  |  | 618 |  |  |  | 67 |
The net benefit expense is recognized under “Personnel Expenses” (Note No. 35). The principal assumptions used in determining pension obligations for the Bank’s plan are shown below:
|  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2021 |
|  | % |  |  | % |
Discount rate |  |  | 2.31 |  |  |  | 5.70 |
Annual salary increase |  |  | 4.04 |  |  |  | 3.94 |
Payment probability |  |  | 99.99 |  |  |  | 99.99 |
The most recent actuarial valuation of the staff severance indemnities provision was carried out during December 2021. Changes in the present value of the defined benefit obligation are as follows:
|  | 2020 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |
Opening defined benefit obligation, January 1, |  |  | 7,566 |  |  |  | 7,581 |
Increase in provision |  |  | 527 |  |  |  | 590 |
Benefits paid |  |  | (603 | ) |  |  | (1,202 | )
Actuarial gains and losses |  |  | 91 |  |  |  | (523 | )
Closing defined benefit obligation |  |  | 7,581 |  |  |  | 6,446 |
(a.2) The following table details the changes in provisions for incentive plans during 2020 and 2021:
|  | 2020 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |
Balances as of January 1, |  |  | 51,051 |  |  |  | 43,941 |
Provisions established |  |  | 34,138 |  |  |  | 49,652 |
Provisions used |  |  | (41,248 | ) |  |  | (40,524 | )
Provisions released |  |  | — |  |  |  | — |
Balances as of December 31, |  |  | 43,941 |  |  |  | 53,069 |
(a.3) The following table details the changes in provisions for vacation during 2020 and 2021:
|  | 2020 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |
Balances as of January 1, |  |  | 27,609 |  |  |  | 33,993 |
Provisions established |  |  | 11,512 |  |  |  | 11,294 |
Provisions used |  |  | (5,128 | ) |  |  | (8,277 | )
Provisions released |  |  | — |  |  |  | — |
Balances as of December 31, |  |  | 33,993 |  |  |  | 37,010 |
| (b) | Provisions for share-based employee benefits:
As of December 31, 2020 and 2021, the Bank and its subsidiaries did not have stock-based compensation plans.

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