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Relevant Events
 12 Months Ended
Dec. 31, 2022
Relevant Events Disclosure [Abstract]  
Relevant Events
5.Relevant Events:

 

(a)On January 27, 2022, the Board of Directors of Banco de Chile agreed to convene an Ordinary Shareholders Meeting on March 17, 2022 in order to propose, among other matters, the following:

 

1.The following distribution of profits for the year ended on December 31, 2021:

 

i.Deduct and withhold from the net income of the year, an amount equivalent to the effect of inflation of the paid capital and reserves according to the variation of the Consumer Price Index that occurred between November 2020 and November 2021, amounting to Ch$253,093,655,744 which will be added to retained earnings from previous periods.

 

ii.Distribute in the form of a dividend the remaining liquid profit, corresponding to a dividend of Ch$5.34393608948 to each of the 101,017,081,114 shares of the Bank.

 

Consequently, the distribution as dividend of 68.1% of the profits for the year ending December 31, 2021, was proposed.

 

2.The shareholders who choose to, may at their option apply all or part of their dividend to the optional and transitory taxation regime that contemplates a substitute tax payment for the final taxes, called ISFUT (for its Spanish initials), in accordance with the transitory article 25 of Law No. 21,210.

 

3.The dividend, if approved by the Meeting, would be paid on March 31, 2022.

 

(b)On July 19, 2022, the Liquidation Commission of the subsidiary Banchile Securitizadora S.A. en Liquidación agreed to approve in all its parts the end of the liquidation process, the final account and the distribution of capital to its shareholders, according to its balance sheet as of June 30, 2022. This return of capital to each of the shareholders was materialized on July 29, 2022.

 

(c)On September 30, 2022, as reported by an essential event dated November 30, 2021, Banco de Chile, together with the rest of the shareholder banks of the banking support company “Operadora de Tarjeta de Crédito Nexus S.A.” (hereinafter, “Nexus”) reached an agreement with Minsait Payments Systems Chile S.A. (a subsidiary of the Spanish company Indra Sistemas S.A.) for the sale of 100% of the shares they own in Nexus, subject to the fulfillment or waiver of various conditions precedent, among which was the authorization of the CMF for the sale of 100% of the shares of Nexus and that the transaction was approved by the National Economic Prosecutor (hereinafter, the “Transaction”).

 

Having fulfilled the conditions for the closing of the Transaction, on September 30, 2022, the closing of the same has been carried out and, consequently, Minsait Payments Systems Chile S.A. has acquired 100% of Nexus shares. As of that date, the price of the Transaction amounts to Ch$8,900,682,219, notwithstanding the price adjustments and additional payments provided for in the Nexus share purchase agreement, if the milestones and conditions established therein are met.

 

As a result of the foregoing, Minsait, Payments Systems Chile S.A. has taken control of Nexus and Banco de Chile together with the rest of the shareholder banks have ceased to be shareholders of Nexus.

 

(d)During the year 2022 Banco de Chile reported as essential fact the following placements in the local market of senior, dematerialized and bearer bonds issued by Banco de Chile and registered in the Securities Registry of the Financial Market Commission:

 

Date  Registration
number in the
Securities Registry		  Serie  Amount   Currency  Maturity date  Average rate 
November 2, 2022  11/2015  CN   2,000,000   UF  02/01/2034   3.20%
November 2, 2022  11/2015  CO   2,000,000   UF  06/01/2034   3.20%
November 2, 2022  11/2015  CQ   2,000,000   UF  10/01/2034   3.20%
November 14, 2022  11/2015  CK   2,000,000   UF  08/01/2033   2.65%
November 18, 2022  11/2015  CM   500,000   UF  12/01/2033   2.60%
November 21, 2022  15/2016  DV   10,000,000,000   CLP  05/01/2027   6.33%
November 22, 2022  15/2016  DV   40,000,000,000   CLP  05/01/2027   6.30%
December 2, 2022  15/2016  DU   38,500,000,000   CLP  01/01/2027   6.41%
December 2, 2022  11/2015  BU   550,000   UF  08/01/2029   2.44%
December 5, 2022  11/2015  CM   250,000   UF  12/01/2033   2.31%
December 7, 2022  11/2015  CL   2,000,000   UF  10/01/2033   2.55%
December 7, 2022  11/2015  CM   1,250,000   UF  12/01/2033   2.55%
December 7, 2022  11/2022  GJ   4,000,000   UF  11/01/2035   2.60%
December 12, 2022  11/2015  CJ   700,000   UF  06/01/2033   2.54%
December 13, 2022  11/2015  CJ   1,300,000   UF  06/01/2033   2.55%
December 22, 2022  11/2022  GK   4,000,000   UF  12/01/2035   2.52%

 

(e)On November 7, 2022, the subsidiary Banchile Administradora General de Fondos S.A. (“Banchile AGF”) informed by essential fact the following:

 

In Extraordinary Board Meeting No. 9, the Board of Directors of the company adopted the following resolutions that will become effective as of the same date:

 

i)Accept the resignation from the position of Director presented by Mr. Julio Guzmán Herrera, who will assume as Advisor to the Board of Directors;

 

ii)Accept the resignation presented by the General Manager of Banchile AGF, Mr. Andrés Lagos Vicuña;

 

iii)Appoint Mr. Andrés Lagos Vicuña as Director of the company; and,

 

iv)Finally, to appoint Mrs. Gabriela Gurovich Camhi as General Manager of Banchile AGF.

 

(f)On December 16, 2022, Banco de Chile reported through an essential fact that on December 15, 2022, the Internal Revenue Service issued the certificate of termination of business of the subsidiary of Banco de Chile, Banchile Securitizadora S.A., Rut 96,932,010-K, dissolved entity.