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Employee Benefits
 12 Months Ended
Dec. 31, 2023
Employee Benefits Disclosure [Abstract]  
Employee Benefits
25.Employee Benefits:

 

As of December 31, 2023 and 2022, this item is composed as follows:

 

   2023   2022 
   MCh$   MCh$ 
         
Short-term employee benefits   144,455    128,580 
Benefits to employees for contract termination   9,677    10,735 
Share-based employee benefits   —    — 
Total   154,132    139,315 

 

(a)Short-term employee benefits:

 

(i)Compliance bonuses provision:

 

   2023   2022 
   MCh$   MCh$ 
Balances as of January 1   73,204    53,069 
Net provisions established   58,135    66,818 
Provisions used   (60,237)   (46,683)
Total   71,102    73,204 

 

(ii)Vacation provision:

 

   2023   2022 
   MCh$   MCh$ 
Balances as of January 1   41,257    37,010 
Net provisions established   10,250    12,107 
Provisions used   (8,250)   (7,860)
Total   43,257    41,257 

 

(iii)Other benefits provision:

 

   2023   2022 
   MCh$   MCh$ 
Balances as of January 1   14,119    10,439 
Net provisions established   54,366    38,916 
Provisions used   (38,389)   (35,236)
Total   30,096    14,119 

 

(b)Benefits to employees for contract termination:

 

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

 

   2023   2022 
   MCh$   MCh$ 
Present value of the obligations at the beginning of the period   10,735    6,446 
Increase in provision   1,357    5,817 
Benefit paid   (2,490)   (1,658)
Effect of change in actuarial factors   75    130 
Total   9,677    10,735 

 

(ii)Net benefits expenses:

 

   2023   2022 
   MCh$   MCh$ 
Increase in provisions   881    5,554 
Interest cost of benefits obligations   476    263 
Effect of change in actuarial factors   75    130 
Net benefit expenses   1,432    5,947 

 

(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,
2023		   December 31,
2022		 
   %   % 
Discount rate   5.77    5.50 
Salary increase rate   5.60    4.80 
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 2023.

 

(c)Share-based compensation programs:

 

As of December 31, 2023 and 2022, the Bank and its subsidiaries do not have a stock-based compensation plan.