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Provisions for Contingent Loans Credit Risk

12 Months Ended

Dec. 31, 2022

Provisions for Contingent Loans Credit Risk Disclosure [Abstract]

Provisions for contingent loans credit risk

23.

Provisions for contingent loans credit risk:

As of December 31, 2022 and 2021, for credit risk for contingent loans is composed as follows:

	Outstanding exposure				ECL
	2022		2021		2022		2021
	MCh$		MCh$		MCh$		MCh$
Warranty by endorsement and sureties		348,774		439,669		8,690		3,754
Confirmed foreign letters of credit		120,971		91,270		107		3
Issued foreign letters of credit		303,224		358,755		468		200
Performance guarantees		2,697,608		2,366,953		24,205		7,029
Undrawn credit lines		9,347,863		8,651,193		109,849		82,033
Other commitments		72,355		78,951		170		30
Total		12,890,795		11,986,791		143,489		93,049

The changes of provisions for credit risk for contingent loans is as follows:

	Provisions for credit risk for contingent loans			Total
	MCh$			MCh$
Balances as of January 1, 2021		98,181			98,181
Provisions established		—			—
Provisions used		(5,132	)		(5,132	)
Provisions released		—			—
Foreign exchange adjustments		—			—
Balances as of December 31, 2021		93,049			93,049
Provisions established		50,440			50,440
Provisions used		—			—
Provisions released		—			—
Foreign exchange adjustments		—			—
Balances as of December 31, 2022		143,489			143,489

(b)

Impairment losses on contingent loan risks:

An analysis of changes in the gross carrying amount and the corresponding allowance for impairment losses in relation to each contingent loan risk is as follow:

Warranty by endorsement and sureties:

The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification as of December 31, 2022 and 2021.

	As of December 31, 2022									As of December 31, 2021
	Stage 1			Stage 2		Stage 3				Stage 1			Stage 2		Stage 3
	Individual MCh$		Group MCh$	Individual MCh$	Group MCh$	Individual MCh$	Group MCh$	Total MCh$		Individual MCh$		Group MCh$	Individual MCh$	Group MCh$	Individual MCh$	Group MCh$	Total MCh$
Normal		340,789	575	—	—	—	—		341,364		403,479	567	28,453	—	—	—		432,499
Substandard		—	—	7,362	—	—	—		7,362		—	—	7,170	—	—	—		7,170
Non-complying		—	—	—	—	48	—		48		—	—	—	—	—	—		—
Total		340,789	575	7,362	—	48	—		348,774		403,479	567	35,623	—	—	—		439,669

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1												Stage 2												Stage 3
	Individual						Group						Individual						Group						Individual						Group				Total
	Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		403,479			239			567			2			35,623			3,513			—			—			—			—			—		—		439,669			3,754
Net change on exposures		(103,737	)		(984	)		7			4			(7,176	)		148			—			—			—			—			—		—		(110,906	)		(832	)
Transfer to Stage 1		83,148			65			801			—			(83,148	)		(65	)		(801	)		—			—			—			—		—		—			—
Transfer to Stage 2		(58,751	)		(15	)		(794	)		(2	)		58,751			15			794			2			—			—			—		—		—			—
Transfer to Stage 3		—			—			—			—			(52	)		(6	)		—			—			52			6			—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			507			—			2			—			—			—			(2	)		—			(6	)		—		—		—			501
Refinements to models used for calculation		—			2,063			—			1			—			3,872			—			—			—			—			—		—		—			5,936
Foreign exchange adjustments		16,650			(166	)		(6	)		—			3,364			(503	)		7			—			(4	)		—			—		—		20,011			(669	)
Total		340,789			1,709			575			7			7,362			6,974			—			—			48			—			—		—		348,774			8,690
Outstanding exposure as of January 1, 2021		186,051			174			131			—			32,267			264			—			—			5,630			5,630			—		—		224,079			6,068
Net change on exposures		168,112			26			369			1			(6,416	)		(153	)		—			—			—			—			—		—		162,065			(126	)
Transfer to Stage 1		3,870			8			320			—			(3,870	)		(8	)		(320	)		—			—			—			—		—		—			—
Transfer to Stage 2		(2,300	)		(2	)		(313	)		—			8,859			6,561			313			—			(6,559	)		(6,559	)		—		—		—			—
Transfer to Stage 3		—			—			—			—			—			—			—			—			—			—			—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(2	)		—			—			—			(3,367	)		—			—			—			—			—		—		—			(3,369	)
Refinements to models used for calculation		—			—			—			1			—			—			—			—			—			—			—		—		—			1
Foreign exchange adjustments		47,746			35			60			—			4,783			216			7			—			929			929			—		—		53,525			1,180
Total		403,479			239			567			2			35,623			3,513			—			—			—			—			—		—		439,669			3,754

Confirmed foreign letters of credit:

	As of December 31, 2022									As of December 31, 2021
	Stage 1			Stage 2		Stage 3				Stage 1			Stage 2		Stage 3
	Individual MCh$		Group MCh$	Individual MCh$	Group MCh$	Individual MCh$	Group MCh$	Total MCh$		Individual MCh$		Group MCh$	Individual MCh$	Group MCh$	Individual MCh$	Group MCh$	Total MCh$
Normal		120,971	—	—	—	—	—		120,971		91,270	—	—	—	—	—		91,270
Substandard		—	—	—	—	—	—		—		—	—	—	—	—	—		—
Non-complying		—	—	—	—	—	—		—		—	—	—	—	—	—		—
Total		120,971	—	—	—	—	—		120,971		91,270	—	—	—	—	—		91,270

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1											Stage 2								Stage 3
	Individual						Group					Individual				Group				Individual				Group				Total
	Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		91,270			3			—			—		—		—		—		—		—		—		—		—		91,270			3
Net change on exposures		38,737			(89	)		—			—		—		—		—		—		—		—		—		—		38,737			(89	)
Transfer to Stage 1		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 2		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 3		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Refinements to models used for calculation		—			207			—			—		—		—		—		—		—		—		—		—		—			207
Foreign exchange adjustments		(9,036	)		(14	)		—			—		—		—		—		—		—		—		—		—		(9,036	)		(14	)
Total		120,971			107			—			—		—		—		—		—		—		—		—		—		120,971			107
Outstanding exposure as of January 1, 2021		58,063			10			236			—		—		—		—		—		—		—		—		—		58,299			10
Net change on exposures		18,244			(8	)		(239	)		—		—		—		—		—		—		—		—		—		18,005			(8	)
Transfer to Stage 1		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 2		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 3		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Refinements to models used for calculation		—			—			—			—		—		—		—		—		—		—		—		—		—			—
Foreign exchange adjustments		14,963			1			3			—		—		—		—		—		—		—		—		—		14,966			1
Total		91,270			3			—			—		—		—		—		—		—		—		—		—		91,270			3

Issued foreign letters of credit:

	As of December 31, 2022														As of December 31, 2021
	Stage 1				Stage 2				Stage 3						Stage 1				Stage 2				Stage 3
	Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$
Normal		302,839		385		—		—		—		—		303,224		277,639		1,578		79,392		26		—		—		358,635
Substandard		—		—		—		—		—		—		—		—		—		120		—		—		—		120
Non-complying		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Total		302,839		385		—		—		—		—		303,224		277,639		1,578		79,512		26		—		—		358,755

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1												Stage 2											Stage 3
	Individual						Group						Individual						Group					Individual				Group				Total
	Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		277,639			121			1,578			4			79,512			75			26			—		—		—		—		—		358,755			200
Net change on exposures		(43,045	)		461			(1,231	)		(2	)		(22,502	)		(44	)		—			—		—		—		—		—		(66,778	)		415
Transfer to Stage 1		56,855			17			26			—			(56,855	)		(17	)		(26	)		—		—		—		—		—		—			—
Transfer to Stage 2		(153	)		—			—			—			153			—			—			—		—		—		—		—		—			—
Transfer to Stage 3		—			—			—			—			—			—			—			—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			62			—			—			—			—			—			—		—		—		—		—		—			62
Refinements to models used for calculation		—			(186	)		—			2			—			(13	)		—			—		—		—		—		—		—			(197	)
Foreign exchange adjustments		11,543			(12	)		12			—			(308	)		—			—			—		—		—		—		—		11,247			(12	)
Total		302,839			463			385			4			—			1			—			—		—		—		—		—		303,224			468
Outstanding exposure as of January 1, 2021		298,841			129			1,881			—			42,941			106			—			—		—		—		—		—		343,663			235
Net change on exposures		(59,551	)		(32	)		(503	)		13			45,249			(36	)		(1	)		—		—		—		—		—		(14,806	)		(55	)
Transfer to Stage 1		19,728			14			—			—			(19,728	)		(14	)		—			—		—		—		—		—		—			—
Transfer to Stage 2		(788	)		(1	)		(25	)		—			788			1			25			—		—		—		—		—		—			—
Transfer to Stage 3		—			—			—			—			—			—			—			—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(1	)		—			—			—			—			—			—		—		—		—		—		—			(1	)
Refinements to models used for calculation		—			—			—			(11	)		—			—			—			—		—		—		—		—		—			(11	)
Foreign exchange adjustments		19,409			12			225			2			10,262			18			2			—		—		—		—		—		29,898			32
Total		277,639			121			1,578			4			79,512			75			26			—		—		—		—		—		358,755			200

Performance guarantees:

	As of December 31, 2022														As of December 31, 2021
	Stage 1				Stage 2				Stage 3						Stage 1				Stage 2				Stage 3
	Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$
Normal		2,535,072		50,203		6,639		1,921		—		—		2,593,835		1,718,639		45,140		572,081		307		—		—		2,336,167
Substandard		—		—		86,748		—		—		—		86,748		—		—		28,697		—		—		—		28,697
Non-complying		—		—		—		—		16,872		153		17,025		—		—		—		—		1,728		361		2,089
Total		2,535,072		50,203		93,387		1,921		16,872		153		2,697,608		1,718,639		45,140		600,778		307		1,728		361		2,366,953

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1												Stage 2												Stage 3
	Individual						Group						Individual						Group						Individual						Group						Total
	Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		1,718,639			1,468			45,140			195			600,778			4,253			307			3			1,728			1,111			361			(1	)		2,366,953			7,029
Net change on exposures		388,963			1,522			7,426			271			(48,974	)		11,102			(509	)		(21	)		(7,440	)		(5,397	)		(440	)		—			339,026			7,477
Transfer to Stage 1		636,908			5,730			3,371			54			(636,908	)		(5,730	)		(3,371	)		(54	)		—			—			—			—			—			—
Transfer to Stage 2		(200,555	)		(103	)		(5,641	)		(47	)		200,555			103			5,831			47			—			—			(190	)		—			—			—
Transfer to Stage 3		(122	)		—			(88	)		(1	)		(22,464	)		(1,344	)		(334	)		(8	)		22,586			1,344			422			9			—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(2,983	)		—			(18	)		—			457			—			62			—			6,516			—			(9	)		—			4,025
Refinements to models used for calculation		—			4,742			—			346			—			918			—			12			—			(293	)		—			—			—			5,725
Foreign exchange adjustments		(8,761	)		(38	)		(5	)		(1	)		400			(12	)		(3	)		—			(2	)		—			—			—			(8,371	)		(51	)
Total		2,535,072			10,338			50,203			799			93,387			9,747			1,921			41			16,872			3,281			153			(1	)		2,697,608			24,205
Outstanding exposure as of January 1, 2022		1,573,058			2,790			46,523			917			589,838			6,422			615			3			3,851			2,992			485			—			2,214,370			13,124
Net change on exposures		72,215			(1,284	)		(716	)		16			21,365			(2,636	)		(882	)		(47	)		(1,870	)		(1,491	)		(344	)		—			89,768			(5,442	)
Transfer to Stage 1		166,106			247			3,381			84			(166,106	)		(247	)		(3,381	)		(84	)		—			—			—			—			—			—
Transfer to Stage 2		(149,250	)		(277	)		(3,911	)		(77	)		150,330			1,131			3,998			77			(1,080	)		(854	)		(87	)		—			—			—
Transfer to Stage 3		(62	)		—			(260	)		(5	)		(765	)		(79	)		(47	)		(5	)		827			79			307			10			—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(58	)		—			(27	)		—			(362	)		—			67			—			374			—			(11	)		—			(17	)
Refinements to models used for calculation		—			(2	)		—			(716	)		—			(4	)		—			(8	)		—			11			—			—			—			(719	)
Foreign exchange adjustments		56,572			52			123			3			6,116			28			4			—			—			—			—			—			62,815			83
Total		1,718,639			1,468			45,140			195			600,778			4,253			307			3			1,728			1,111			361			(1	)		2,366,953			7,029

Undrawn credit lines:

	As of December 31, 2022														As of December 31, 2021
	Stage 1				Stage 2				Stage 3						Stage 1				Stage 2				Stage 3
	Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$
Normal		1,250,186		7,857,056		855		221,940		—		—		9,330,037		1,178,448		7,130,566		133,391		180,023		13		—		8,622,441
Substandard		—		—		4,948		—		—		—		4,948		—		—		4,421		—		—		—		4,421
Non-complying		—		—		—		—		789		12,089		12,878		—		—		—		—		719		23,612		24,331
Total		1,250,186		7,857,056		5,803		221,940		789		12,089		9,347,863		1,178,448		7,130,566		137,812		180,023		732		23,612		8,651,193

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1												Stage 2												Stage 3
	Individual						Group						Individual						Group						Individual						Group						Total
	Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$			Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		1,178,448			575			7,130,566			69,990			137,812			485			180,023			1,130			732			332			23,612			9,521			8,651,193			82,033
Net change on exposures		(59,843	)		133			833,590			40,046			(44	)		272			(55,356	)		15			(505	)		(210	)		(7,677	)		329			710,165			40,585
Transfer to Stage 1		148,946			306			641,127			6,856			(148,928	)		(299	)		(637,188	)		(4,617	)		(18	)		(7	)		(3,939	)		(2,239	)		—			—
Transfer to Stage 2		(16,871	)		(26	)		(728,386	)		(9,368	)		16,969			72			737,467			12,933			(98	)		(46	)		(9,081	)		(3,565	)		—			—
Transfer to Stage 3		(105	)		—			(5,653	)		(75	)		(580	)		(9	)		(3,599	)		(22	)		685			9			9,252			97			—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(162	)		—			604			—			(46	)		—			(7,633	)		—			139			—			1,758			—			(5,340	)
Refinements to models used for calculation		—			350			—			(7,378	)		—			(412	)		—			(117	)		—			160			—			—			—			(7,397	)
Foreign exchange adjustments		(389	)		1			(14,188	)		(79	)		574			—			593			(6	)		(7	)		(4	)		(78	)		56			(13,495	)		(32	)
Total		1,250,186			1,177			7,857,056			100,596			5,803			63			221,940			1,683			789			373			12,089			5,957			9,347,863			109,849
Outstanding exposure as of January 1, 2021		1,055,119			1,236			6,244,331			65,078			142,328			1,038			182,812			3,268			857			420			24,935			7,704			7,650,382			78,744
Net change on exposures		110,630			(647	)		493,150			4,207			(5,814	)		(598	)		(32,854	)		(1,345	)		(446	)		(219	)		(4,328	)		(125	)		560,338			1,273
Transfer to Stage 1		21,447			28			547,431			6,216			(21,447	)		(28	)		(547,431	)		(6,216	)		—			—			—			—			—			—
Transfer to Stage 2		(20,684	)		(48	)		(562,964	)		(6,833	)		20,850			159			568,515			8,760			(166	)		(111	)		(5,551	)		(1,927	)		—			—
Transfer to Stage 3		(62	)		—			(4,738	)		(68	)		(386	)		(28	)		(2,046	)		(33	)		448			28			6,784			101			—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			(2	)		—			370			—			(73	)		—			(3,159	)		—			192			—			1,306			—			(1,366	)
Refinements to models used for calculation		—			—			—			(1,574	)		—			—			—			(224	)		—			1			—			2,032			—			235
Foreign exchange adjustments		11,998			8			413,356			2,594			2,281			15			11,027			79			39			21			1,772			430			440,473			3,147
Total		1,178,448			575			7,130,566			69,990			137,812			485			180,023			1,130			732			332			23,612			9,521			8,651,193			82,033

Other commitments:

	As of December 31, 2022														As of December 31, 2021
	Stage 1				Stage 2				Stage 3						Stage 1				Stage 2				Stage 3
	Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Individual MCh$		Group MCh$		Total MCh$
Normal		72,355		—		—		—		—		—		72,355		78,951		—		—		—		—		—		78,951
Substandard		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Non-complying		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Total		72,355		—		—		—		—		—		72,355		78,951		—		—		—		—		—		78,951

An analysis of changes in the outstanding exposures and corresponding allowance for ECL during the 2022 and 2021 periods are as follows:

	Stage 1									Stage 2								Stage 3
	Individual					Group				Individual				Group				Individual				Group				Total
	Gross carrying amount MCh$			ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$		ECL MCh$		Gross carrying amount MCh$			ECL MCh$
Outstanding exposure as of January 1, 2022		78,951			30		—		—		—		—		—		—		—		—		—		—		78,951			30
Net change on exposures		(6,596	)		85		—		—		—		—		—		—		—		—		—		—		(6,596	)		85
Transfer to Stage 1		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 2		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 3		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Refinements to models used for calculation		—			55		—		—		—		—		—		—		—		—		—		—		—			55
Foreign exchange adjustments		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Total		72,355			170		—		—		—		—		—		—		—		—		—		—		72,355			170
Outstanding exposure as of January 1, 2021		107,707			—		—		—		—		—		—		—		—		—		—		—		107,707			—
Net change on exposures		(28,756	)		30		—		—		—		—		—		—		—		—		—		—		(28,756	)		30
Transfer to Stage 1		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 2		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Transfer to Stage 3		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Impact on year-end ECL of exposures transferred between stages during the year**		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Refinements to models used for calculation		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Foreign exchange adjustments		—			—		—		—		—		—		—		—		—		—		—		—		—			—
Total		78,951			30		—		—		—		—		—		—		—		—		—		—		78,951			30