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Interest and UF Indexation Revenue and Expenses

12 Months Ended

Dec. 31, 2023

Interest and UF Indexation Revenue and Expenses Disclosure [Abstract]

Interest and UF indexation revenue and expenses

29.	Interest and UF indexation revenue and expenses:

(a)

At the end of the period, the summary is as follows:

	2023									2022									2021
	Interest			UF indexation			Total			Interest			UF indexation			Total			Interest			UF indexation			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Interest revenue		3,211,883			832,782			4,044,665			2,344,384			2,122,497			4,466,881			1,393,233			995,237			2,388,470
Interest expenses		(1,634,708	)		(489,165	)		(2,123,873	)		(1,040,914	)		(1,159,838	)		(2,200,752	)		(276,087	)		(538,361	)		(814,448	)
Total net interest income		1,577,175			343,617			1,920,792			1,303,470			962,659			2,266,129			1,117,146			456,876			1,574,022

(b)

The composition of interest is as follows:

	2023									2022									2021
	Interest			UF indexation			Total			Interest			UF indexation			Total			Interest			UF indexation			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Financial assets at amortized cost
Rights by resale agreements and securities lending		5,984			—			5,984			4,142			—			4,142			1,756			—			1,756
Debt financial instruments		21,605			27,392			48,997			13,992			68,107			82,099			2,784			15,243			18,027
Loans and advances to Banks		169,594			—			169,594			154,727			—			154,727			19,349			—			19,349
Commercial loans		1,490,550			320,755			1,811,305			1,054,785			852,296			1,907,081			630,918			397,720			1,028,638
Residential mortgage loans		371,043			546,216			917,259			323,452			1,340,082			1,663,534			283,941			634,511			918,452
Consumer Loans		793,499			1,850			795,349			615,572			6,986			622,558			442,352			4,256			446,608
Other financial instruments		62,137			2,843			64,980			442			5,238			5,680			—			1,790			1,790
Financial assets at fair value through other comprehensive income
Debt financial instruments		327,081			28,397			355,478			187,073			70,845			257,918			38,943			24,469			63,412
Other financial instruments		1,023			—			1,023			16,930			—			16,930			1,365			—			1,365
Income of accounting hedges of interest rate risk		(30,633	)		(94,671	)		(125,304	)		(26,731	)		(221,057	)		(247,788	)		(28,175	)		(82,752	)		(110,927	)
Total		3,211,883			832,782			4,044,665			2,344,384			2,122,497			4,466,881			1,393,233			995,237			2,388,470

(c)

The composition of interest expenses is as follows:

	2023								2022								2021
	Interest			UF indexation		Total			Interest			UF indexation		Total			Interest			UF indexation		Total
	MCh$			MCh$		MCh$			MCh$			MCh$		MCh$			MCh$			MCh$		MCh$

Financial liabilities at amortized cost
Current accounts and other demand deposits		1,343			16,677		18,020			4,515			40,557		45,072			843			32,292		33,135
Saving accounts and time deposits		1,308,575			96,446		1,405,021			776,658			195,244		971,902			73,961			57,080		131,041
Obligations by repurchase agreements and securities lending		15,183			—		15,183			15,845			—		15,845			940			—		940
Borrowings from financial institutions		64,603			—		64,603			37,414			—		37,414			23,386			—		23,386
Debt financial instruments issued		249,438			329,837		579,275			210,393			803,863		1,014,256			175,531			391,500		567,031
Other financial obligations		—			—		—			—			—		—			12			19		31
Lease liabilities		1,980			—		1,980			1,865			—		1,865			1,978			—		1,978
Financial instruments of regulatory capital issued		34,903			46,205		81,108			31,271			120,174		151,445			29,389			57,470		86,859
Income of accounting hedges of interest rate risk		(41,317	)		—		(41,317	)		(37,047	)		—		(37,047	)		(29,953	)		—		(29,953	)
Total		1,634,708			489,165		2,123,873			1,040,914			1,159,838		2,200,752			276,087			538,361		814,448

(d)

As of December 31, 2023, 2022 and 2021, the Bank uses cross currency and interest rate swaps to hedge its position on changes on the fair value of corporate bonds and commercial loans and cross currency swaps to hedge the risk of variability of obligations flows with foreign banks and bonds issued in foreign currency.

	2023																	2022																	2021
	Interest						UF indexation					Total						Interest						UF indexation					Total						Interest						UF indexation					Total
	Income			Expense			Income			Expense		Income			Expense			Income			Expense			Income			Expense		Income			Expense			Income			Expense			Income			Expense		Income			Expense
	MCh$			MCh$			MCh$			MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$		MCh$			MCh$

Gain from fair value accounting hedges		—			—			—			—		—			—			608			—			—			—		608			—			6,075			—			—			—		6,075			—
Loss from fair value accounting hedges		—			—			—			—		—			—			(740	)		—			—			—		(740	)		—			(5,513	)		—			—			—		(5,513	)		—
Gain from cash flow accounting hedges		274,897			338,551			2,308			—		277,205			338,551			72,354			112,322			—			—		72,354			112,322			192,590			234,986			—			—		192,590			234,986
Loss from cash flow accounting hedges		(305,530	)		(297,234	)		(96,979	)		—		(402,509	)		(297,234	)		(98,345	)		(75,275	)		(221,057	)		—		(319,402	)		(75,275	)		(215,898	)		(205,033	)		(82,752	)		—		(298,650	)		(205,033	)
Net gain on hedge items		—			—			—			—		—			—			(608	)		—			—			—		(608	)		—			(5,429	)		—			—			—		(5,429	)		—
Total		(30,633	)		41,317			(94,671	)		—		(125,304	)		41,317			(26,731	)		37,047			(221,057	)		—		(247,788	)		37,047			(28,175	)		29,953			(82,752	)		—		(110,927	)		29,953