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Employee Benefits
 12 Months Ended
Dec. 31, 2022
Employee Benefits Disclosure [Abstract]  
Employee Benefits
25.Employee Benefits:

 

As of December 31, 2022 and 2021, this item is composed as follows:

 

   2022   2021 
   MCh$   MCh$ 
         
Short-term employee benefits   128,580    100,517 
Benefits to employees for contract termination   10,735    6,446 
Share-based employee benefits   
—
    
—
 
Total   139,315    106,963 

 

(a)Short-term employee benefits:

 

(i)Compliance bonuses provision:

 

   2022   2021 
   MCh$   MCh$ 
Balances as of January 1   53,069    43,941 
Net provisions established   66,818    49,652 
Provisions used   (46,683)   (40,524)
Total   73,204    53,069 

 

(ii)Vacation provision:

 

   2022   2021 
   MCh$   MCh$ 
Balances as of January 1   37,010    33,993 
Net provisions established   12,107    11,294 
Provisions used   (7,860)   (8,277)
Total   41,257    37,010 

 

(iii)Other benefits provision:

 

   2022   2021 
   MCh$   MCh$ 
Balances as of January 1   10,439    25,728 
Net provisions established   38,916    22,838 
Provisions used   (35,236)   (38,128)
Total   14,119    10,438 

 

(b)Benefits to employees for contract termination:

 

(i)Changes of the provision for employee benefits due to the termination of the employment contract:

 

   2022   2021 
   MCh$   MCh$ 
Present value of the obligations at the beginning of the period   6,446    7,581 
Increase in provision   5,817    590 
Benefit paid   (1,658)   (1,202)
Effect of change in actuarial factors   130    (523)
Total   10,735    6,446 

(ii)Net benefits expenses:

 

   2022   2021 
   MCh$   MCh$ 
Increase (decrease) in provisions   5,554    226 
Interest cost of benefits obligations   263    364 
Effect of change in actuarial factors   130    (523)
Net benefit expenses   5,947    67 

 

(iii)Factors used in the calculation:

 

The main assumptions used in the determination of severance indemnity obligations for the Bank’s plan are shown below:

 

   December 31,
2022		   December 31,
2021		 
    %    % 
Discount rate   5.50    5.70 
Salary increase rate   4.80    3.94 
Payment probability   99.99    99.99 

 

The most recent actuarial valuation of the staff severance indemnities provision was carried out during the fourth quarter of 2022.

 

(c)Share-based compensation programs:

 

As of December 31, 2022 and 2021, the Bank and its subsidiaries do not have a stock-based compensation plan.