XML 123 R96.htm IDEA: XBRL DOCUMENT
v3.25.1

Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Fair Value of Financial Assets and Liabilities [Abstract] |
Schedule of Valuation Techniques and Inputs | Valuation Techniques and Inputs for Level 2 Instrument:
Type of Financial Instrument | Valuation Method | Description: Inputs and Sources
Local Bank and Corporate Bonds | Discounted cash flows model | Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model is based on daily prices and risk/maturity similarities between Instruments.
Offshore Bank and Corporate Bonds | Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices.
Local Central Bank and Treasury Bonds | Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices.
Mortgage Notes | Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model takes into consideration daily prices and risk/maturity similarities between instruments.
Time Deposits | Prices are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices and considers risk/maturity similarities between instruments.
Cross Currency Swaps, Interest Rate Swaps, FX Forwards, Inflation Forwards | Forward Points, Inflation forecast and local swap rates are provided by market brokers that are widely used in the Chilean market Offshore rates and spreads are obtained from third party price providers that are widely used in the Chilean market. Zero Coupon rates are calculated by using the bootstrapping method over swap rates.
FX Options | Black-Scholes Model | Prices for volatility surface estimates are obtained from market brokers that are widely used in the Chilean market.
Valuation Techniques and Inputs for Level 3 Instrument:
Type of Financial Instrument | Valuation Method | Description: Inputs and Sources
Local Bank and Corporate Bonds | Discounted cash flows model | Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (Central Bank Bonds) and issuer spread. These inputs (base yield and issuer spread) are provided on a daily basis by third party price providers that are widely used in the Chilean market.
Offshore Bank and Corporate Bonds | Discounted cash flows model | Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield and issuer spread. These inputs (base yield and issuer spread) are provided on a weekly basis by third party price providers that are widely used in the Chilean market.
Schedule of Fair Value of Financial Assets Liabilities on the Balance Sheet | The following table shows the classification by levels, for financial instruments registered at fair value.
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets held for trading at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative contracts financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forwards |  |  | — |  |  |  | — |  |  |  | 227,670 |  |  |  | 212,639 |  |  |  | — |  |  |  | — |  |  |  | 227,670 |  |  |  | 212,639 |
Swaps |  |  | — |  |  |  | — |  |  |  | 2,070,481 |  |  |  | 1,818,155 |  |  |  | — |  |  |  | — |  |  |  | 2,070,481 |  |  |  | 1,818,155 |
Call Options |  |  | — |  |  |  | — |  |  |  | 4,949 |  |  |  | 3,435 |  |  |  | — |  |  |  | — |  |  |  | 4,949 |  |  |  | 3,435 |
Put Options |  |  | — |  |  |  | — |  |  |  | 253 |  |  |  | 1,311 |  |  |  | — |  |  |  | — |  |  |  | 253 |  |  |  | 1,311 |
Futures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | — |  |  |  | — |  |  |  | 2,303,353 |  |  |  | 2,035,540 |  |  |  | — |  |  |  | — |  |  |  | 2,303,353 |  |  |  | 2,035,540 |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From the Chilean Government and Central Bank |  |  | 210,418 |  |  |  | 181,702 |  |  |  | 1,285,039 |  |  |  | 2,845,611 |  |  |  | — |  |  |  | — |  |  |  | 1,495,457 |  |  |  | 3,027,313 |
Other debt financial instruments issued in Chile |  |  | — |  |  |  | — |  |  |  | 206,675 |  |  |  | 301,948 |  |  |  | 11,273 |  |  |  | 34,363 |  |  |  | 217,948 |  |  |  | 336,311 |
Financial debt instruments issued Abroad |  |  | — |  |  |  | — |  |  |  | 976 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 976 |  |  |  | — |
Subtotal |  |  | 210,418 |  |  |  | 181,702 |  |  |  | 1,492,690 |  |  |  | 3,147,559 |  |  |  | 11,273 |  |  |  | 34,363 |  |  |  | 1,714,381 |  |  |  | 3,363,624 |
Others |  |  | 411,689 |  |  |  | 409,328 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 411,689 |  |  |  | 409,328 |
Financial Assets at fair value through Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From the Chilean Government and Central Bank |  |  | 550,418 |  |  |  | 532,203 |  |  |  | 110,359 |  |  |  | 1,305,449 |  |  |  | — |  |  |  | — |  |  |  | 660,777 |  |  |  | 1,837,652 |
Other debt financial instruments issued in Chile |  |  | — |  |  |  | — |  |  |  | 1,303,708 |  |  |  | 1,653,182 |  |  |  | 71,922 |  |  |  | 88,483 |  |  |  | 1,375,630 |  |  |  | 1,741,665 |
Financial debt instruments issued Abroad |  |  | — |  |  |  | — |  |  |  | 51,938 |  |  |  | 207,208 |  |  |  | — |  |  |  | — |  |  |  | 51,938 |  |  |  | 207,208 |
Equity Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments issued in Chile |  |  | 6,920 |  |  |  | 10,243 |  |  |  | — |  |  |  | — |  |  |  | 357 |  |  |  | 358 |  |  |  | 7,277 |  |  |  | 10,601 |
Instruments issued abroad |  |  | 2,103 |  |  |  | 1,286 |  |  |  | — |  |  |  | — |  |  |  | 112 |  |  |  | 25 |  |  |  | 2,215 |  |  |  | 1,311 |
Subtotal |  |  | 559,441 |  |  |  | 543,732 |  |  |  | 1,466,005 |  |  |  | 3,165,839 |  |  |  | 72,391 |  |  |  | 88,866 |  |  |  | 2,097,837 |  |  |  | 3,798,437 |
Derivative contracts financial for hedging purposes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forwards |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Swaps |  |  | — |  |  |  | — |  |  |  | 73,959 |  |  |  | 49,065 |  |  |  | — |  |  |  | — |  |  |  | 73,959 |  |  |  | 49,065 |
Call Options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Put Options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Futures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | — |  |  |  | — |  |  |  | 73,959 |  |  |  | 49,065 |  |  |  | — |  |  |  | — |  |  |  | 73,959 |  |  |  | 49,065 |
Total |  |  | 1,181,548 |  |  |  | 1,134,762 |  |  |  | 5,336,007 |  |  |  | 8,398,003 |  |  |  | 83,664 |  |  |  | 123,229 |  |  |  | 6,601,219 |  |  |  | 9,655,994 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities held for trading at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative contracts financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forwards |  |  | — |  |  |  | — |  |  |  | 241,757 |  |  |  | 221,626 |  |  |  | — |  |  |  | — |  |  |  | 241,757 |  |  |  | 221,626 |
Swaps |  |  | — |  |  |  | — |  |  |  | 2,197,858 |  |  |  | 1,969,558 |  |  |  | — |  |  |  | — |  |  |  | 2,197,858 |  |  |  | 1,969,558 |
Call Options |  |  | — |  |  |  | — |  |  |  | 4,151 |  |  |  | 1,061 |  |  |  | — |  |  |  | — |  |  |  | 4,151 |  |  |  | 1,061 |
Put Options |  |  | — |  |  |  | — |  |  |  | 955 |  |  |  | 3,871 |  |  |  | — |  |  |  | — |  |  |  | 955 |  |  |  | 3,871 |
Futures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | — |  |  |  | — |  |  |  | 2,444,721 |  |  |  | 2,196,116 |  |  |  | — |  |  |  | — |  |  |  | 2,444,721 |  |  |  | 2,196,116 |
Others |  |  | — |  |  |  | — |  |  |  | 990 |  |  |  | 2,305 |  |  |  | — |  |  |  | — |  |  |  | 990 |  |  |  | 2,305 |
Derivative contracts financial for hedging purposes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forwards |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Swaps |  |  | — |  |  |  | — |  |  |  | 141,040 |  |  |  | 160,602 |  |  |  | — |  |  |  | — |  |  |  | 141,040 |  |  |  | 160,602 |
Call Options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Put Options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Futures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | — |  |  |  | — |  |  |  | 141,040 |  |  |  | 160,602 |  |  |  | — |  |  |  | — |  |  |  | 141,040 |  |  |  | 160,602 |
Total |  |  | — |  |  |  | — |  |  |  | 2,586,751 |  |  |  | 2,359,023 |  |  |  | — |  |  |  | — |  |  |  | 2,586,751 |  |  |  | 2,359,023 |
(1) | As of December 31, 2024, 100% of instruments of level 3 have denomination “Investment Grade”. Also, 100% of total of these financial instruments correspond to domestic issuers.
Schedule of Reconciliation Between the Beginning and Ending Balances of Instruments | The following table shows the reconciliation between the balances at the beginning and at the end of year for those instruments classified in Level 3, whose fair value is reflected in the Consolidated Financial Statements:
|  | 2024 |
|  | Balance as of January 1, 2024 |  |  | Gain (Loss) Recognized in Income (1) |  |  | Gain (Loss) Recognized in Equity (2) |  |  | Purchases |  |  | Sales |  |  | Transfer from Level 1 and 2 |  |  | Transfer to Level 1 and 2 |  |  | Balance as of December 31, 2024 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Financial Assets held for trading at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  |  | 34,363 |  |  |  | 1,409 |  |  |  | — |  |  |  | 25,279 |  |  |  | (56,736 | ) |  |  | 6,958 |  |  |  | — |  |  |  | 11,273 |
Subtotal |  |  | 34,363 |  |  |  | 1,409 |  |  |  | — |  |  |  | 25,279 |  |  |  | (56,736 | ) |  |  | 6,958 |  |  |  | — |  |  |  | 11,273 |
Financial Assets at fair value through Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  |  | 88,483 |  |  |  | 586 |  |  |  | 1,682 |  |  |  | 58,608 |  |  |  | (27,961 | ) |  |  | 11,268 |  |  |  | (60,744 | ) |  |  | 71,922 |
Equity Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments issued in Chile |  |  | 358 |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 357 |
Instruments issued abroad |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 112 |
Subtotal |  |  | 88,866 |  |  |  | 586 |  |  |  | 1,681 |  |  |  | 58,695 |  |  |  | (27,961 | ) |  |  | 11,268 |  |  |  | (60,744 | ) |  |  | 72,391 |
Total |  |  | 123,229 |  |  |  | 1,995 |  |  |  | 1,681 |  |  |  | 83,974 |  |  |  | (84,697 | ) |  |  | 18,226 |  |  |  | (60,744 | ) |  |  | 83,664 |
|  | 2023 |
|  | Balance as of January 1, 2023 |  |  | Gain (Loss) Recognized in Income (1) |  |  | Gain (Loss) Recognized in Equity (2) |  |  | Purchases |  |  | Sales |  |  | Transfer from Level 1 and 2 |  |  | Transfer to Level 1 and 2 |  |  | Balance as of December 31, 2023 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Financial Assets held for trading at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  |  | 100,519 |  |  |  | 767 |  |  |  | — |  |  |  | 18,085 |  |  |  | (62,179 | ) |  |  | 15,190 |  |  |  | (38,019 | ) |  |  | 34,363 |
Subtotal |  |  | 100,519 |  |  |  | 767 |  |  |  | — |  |  |  | 18,085 |  |  |  | (62,179 | ) |  |  | 15,190 |  |  |  | (38,019 | ) |  |  | 34,363 |
Financial Assets at fair value through Other Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  |  | 41,283 |  |  |  | 4,093 |  |  |  | (7,355 | ) |  |  | 63,930 |  |  |  | (1,695 | ) |  |  | 3,951 |  |  |  | (15,724 | ) |  |  | 88,483 |
Equity Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments issued in Chile |  |  | 358 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 358 |
Instruments issued abroad |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25 |
Subtotal |  |  | 41,666 |  |  |  | 4,093 |  |  |  | (7,355 | ) |  |  | 63,930 |  |  |  | (1,695 | ) |  |  | 3,951 |  |  |  | (15,724 | ) |  |  | 88,866 |
Total |  |  | 142,185 |  |  |  | 4,860 |  |  |  | (7,355 | ) |  |  | 82,015 |  |  |  | (63,874 | ) |  |  | 19,141 |  |  |  | (53,743 | ) |  |  | 123,229 |
(1) | Recorded in income under item “Net Financial income (expense)”.
(2) | Recorded in equity under item “Accumulated other comprehensive income”.
Schedule of Instruments Classified in Level 3 using Alternative in Key Valuation Assumptions | The following table shows the sensitivity, by type of instrument, of those instruments classified in Level 3 using alternative in key valuation assumptions:
| As of December 31, 2024 |  | As of December 31, 2023 |
| Level 3 |  | Sensitivity to changes in key assumptions of models |  | Level 3 |  | Sensitivity to changes in key assumptions of models |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Financial Assets held for trading at fair value through profit or loss |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  | 11,273 |  |  | (255 | ) |  | 34,363 |  |  | (696 | )
Subtotal |  | 11,273 |  |  | (255 | ) |  | 34,363 |  |  | (696 | )
Financial Assets at fair value through Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |
Debt Financial Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Other debt financial instruments issued in Chile |  | 71,922 |  |  | (2,320 | ) |  | 88,483 |  |  | (2,721 | )
Equity Instruments: |  |  |  |  |  |  |  |  |  |  |  |
Instruments issued in Chile |  | 357 |  |  | — |  |  | 358 |  |  | — |
Instruments issued abroad |  | 112 |  |  | — |  |  | 25 |  |  | — |
Subtotal |  | 72,391 |  |  | (2,320 | ) |  | 88,866 |  |  | (2,721 | )
Total |  | 83,664 |  |  | (2,575 | ) |  | 123,229 |  |  | (3,417 | )
Schedule of Fair Values of the Financial Assets and Liabilities that are not Recorded at Fair Value in the Statement of Financial Position | The following table summarizes the fair values of the Bank’s main financial assets and liabilities that are not recorded at fair value in the Statement of Financial Position.
| Book Value |  | Estimated Fair Value |
| 2024 |  | 2023 |  | 2024 |  | 2023 |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Assets |  |  |  |  |  |  |  |
Cash and due from banks |  | 2,699,076 |  |  | 2,464,648 |  |  | 2,699,076 |  |  | 2,464,648 |
Transactions in the course of collection |  | 372,456 |  |  | 415,505 |  |  | 372,456 |  |  | 415,505 |
Subtotal |  | 3,071,532 |  |  | 2,880,153 |  |  | 3,071,532 |  |  | 2,880,153 |
Financial assets at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Rights by resale agreements and securities lending |  | 87,291 |  |  | 71,822 |  |  | 87,291 |  |  | 71,822 |
Debt financial instruments |  | 944,074 |  |  | 1,431,083 |  |  | 892,550 |  |  | 1,368,416 |
Loans and advances to Banks |  |  |  |  |  |  |  |  |  |  |  |
Domestic banks |  | 299,147 |  |  | — |  |  | 299,147 |  |  | — |
Central Bank of Chile |  | — |  |  | 2,100,933 |  |  | — |  |  | 2,100,933 |
Foreign banks |  | 366,568 |  |  | 417,657 |  |  | 366,245 |  |  | 412,662 |
Subtotal |  | 1,697,080 |  |  | 4,021,495 |  |  | 1,645,233 |  |  | 3,953,833 |
Loans to customers, net |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 19,893,412 |  |  | 19,770,403 |  |  | 19,561,279 |  |  | 19,193,778 |
Residential mortgage loans |  | 13,197,695 |  |  | 12,277,266 |  |  | 13,000,178 |  |  | 11,656,071 |
Consumer loans |  | 5,151,755 |  |  | 4,893,418 |  |  | 5,247,985 |  |  | 5,025,163 |
Subtotal |  | 38,242,862 |  |  | 36,941,087 |  |  | 37,809,442 |  |  | 35,875,012 |
Total |  | 43,011,474 |  |  | 43,842,735 |  |  | 42,526,207 |  |  | 42,708,998 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Transactions in the course of payment |  | 283,605 |  |  | 356,871 |  |  | 283,605 |  |  | 356,871 |
Financial liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Current accounts and other demand deposits |  | 14,630,797 |  |  | 13,670,793 |  |  | 14,630,797 |  |  | 13,670,793 |
Saving accounts and time deposits |  | 14,345,223 |  |  | 15,538,196 |  |  | 14,346,676 |  |  | 15,536,406 |
Obligations by repurchase agreements and securities lending |  | 109,794 |  |  | 157,173 |  |  | 109,794 |  |  | 157,173 |
Borrowings from financial institutions |  | 1,103,468 |  |  | 5,360,715 |  |  | 1,071,097 |  |  | 5,152,776 |
Debt financial instruments issued |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit for residential purposes |  | 849 |  |  | 1,433 |  |  | 946 |  |  | 1,533 |
Letters of credit for general purposes |  | 1 |  |  | 11 |  |  | 1 |  |  | 12 |
Bonds |  | 9,689,219 |  |  | 9,358,621 |  |  | 9,596,699 |  |  | 9,090,188 |
Other financial obligations |  | 284,479 |  |  | 339,305 |  |  | 284,479 |  |  | 339,327 |
Subtotal |  | 40,163,830 |  |  | 44,426,247 |  |  | 40,040,489 |  |  | 43,948,208 |
Debt financial instruments issued for regulatory capital purposes |  |  |  |  |  |  |  |  |  |  |  |
Subordinate bonds |  | 1,068,879 |  |  | 1,039,814 |  |  | 1,057,509 |  |  | 1,035,801 |
Total |  | 41,516,314 |  |  | 45,822,932 |  |  | 41,381,603 |  |  | 45,340,880 |
Schedule of Fair Value Financial Assets and Liabilities not Measured at Fair Value on the Balance Sheet | The table below sets forth the fair value of Financial Assets and Liabilities not measured at fair value on the balance sheet, for the years ended December 31, 2024 and 2023:
|  | Level 1 Estimated Fair Value |  |  | Level 2 Estimated Fair Value |  |  | Level 3 Estimated Fair Value |  |  | Total Estimated Fair Value |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  |  | 2,699,076 |  |  |  | 2,464,648 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,699,076 |  |  |  | 2,464,648 |
Transactions in the course of collection |  |  | 372,456 |  |  |  | 415,505 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 372,456 |  |  |  | 415,505 |
Subtotal |  |  | 3,071,532 |  |  |  | 2,880,153 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,071,532 |  |  |  | 2,880,153 |
Financial assets at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rights by resale agreements and securities lending |  |  | 87,291 |  |  |  | 71,822 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 87,291 |  |  |  | 71,822 |
Debt financial instruments |  |  | 892,550 |  |  |  | 1,368,416 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 892,550 |  |  |  | 1,368,416 |
Loans and advances to Banks |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic banks |  |  | 299,147 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 299,147 |  |  |  | — |
Central Bank of Chile |  |  | — |  |  |  | 2,100,933 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,100,933 |
Foreign banks |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 366,245 |  |  |  | 412,662 |  |  |  | 366,245 |  |  |  | 412,662 |
Subtotal |  |  | 1,278,988 |  |  |  | 3,541,171 |  |  |  | — |  |  |  | — |  |  |  | 366,245 |  |  |  | 412,662 |  |  |  | 1,645,233 |  |  |  | 3,953,833 |
Loans to customers, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,561,279 |  |  |  | 19,193,778 |  |  |  | 19,561,279 |  |  |  | 19,193,778 |
Residential mortgage loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,000,178 |  |  |  | 11,656,071 |  |  |  | 13,000,178 |  |  |  | 11,656,071 |
Consumer loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,247,985 |  |  |  | 5,025,163 |  |  |  | 5,247,985 |  |  |  | 5,025,163 |
Subtotal |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 37,809,442 |  |  |  | 35,875,012 |  |  |  | 37,809,442 |  |  |  | 35,875,012 |
Total |  |  | 4,350,520 |  |  |  | 6,421,324 |  |  |  | — |  |  |  | — |  |  |  | 38,175,687 |  |  |  | 36,287,674 |  |  |  | 42,526,207 |  |  |  | 42,708,998 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transactions in the course of payment |  |  | 283,605 |  |  |  | 356,871 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 283,605 |  |  |  | 356,871 |
Financial liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current accounts and other demand deposits |  |  | 14,630,797 |  |  |  | 13,670,793 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,630,797 |  |  |  | 13,670,793 |
Saving accounts and time deposits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,346,676 |  |  |  | 15,536,406 |  |  |  | 14,346,676 |  |  |  | 15,536,406 |
Obligations by repurchase agreements and securities lending |  |  | 109,794 |  |  |  | 157,173 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 109,794 |  |  |  | 157,173 |
Borrowings from financial institutions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,071,097 |  |  |  | 5,152,776 |  |  |  | 1,071,097 |  |  |  | 5,152,776 |
Debt financial instruments issued |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Letters of credit for residential purposes |  |  | — |  |  |  | — |  |  |  | 946 |  |  |  | 1,533 |  |  |  | — |  |  |  | — |  |  |  | 946 |  |  |  | 1,533 |
Letters of credit for general purposes |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 12 |
Bonds |  |  | — |  |  |  | — |  |  |  | 9,596,699 |  |  |  | 9,090,188 |  |  |  | — |  |  |  | — |  |  |  | 9,596,699 |  |  |  | 9,090,188 |
Other financial obligations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 284,479 |  |  |  | 339,327 |  |  |  | 284,479 |  |  |  | 339,327 |
Subtotal |  |  | 14,740,591 |  |  |  | 13,827,966 |  |  |  | 9,597,646 |  |  |  | 9,091,733 |  |  |  | 15,702,252 |  |  |  | 21,028,509 |  |  |  | 40,040,489 |  |  |  | 43,948,208 |
Debt financial instruments issued for regulatory capital purposes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinate bonds |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | 1,057,509 |  |  |  | 1,035,801 |  |  |  | 1,057,509 |  |  |  | 1,035,801 |
Total |  |  | 15,024,196 |  |  |  | 14,184,837 |  |  |  | 9,597,646 |  |  |  | 9,091,733 |  |  |  | 16,759,761 |  |  |  | 22,064,310 |  |  |  | 41,381,603 |  |  |  | 45,340,880 |

X
- Definition The disclosure of fair value of financial instruments, not measured at fair value in statement of financial position. + References No definition available. + Details
Name: | bch_DisclosureOfFairValueOfFinancialInstrumentsNotMeasuredAtFairValueInStatementOfFinancialPositionTableTextBlock
Namespace Prefix: | bch_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of impact on the fair value of financial instruments using alternative assumptions that are reasonably possible related to significant unobservable inputs. + References No definition available. + Details
Name: | bch_DisclosureOfImpactOnFairValueOfFinancialInstrumentsUsingAlternativeAssumptionsThatAreReasonablyPossibleRelatedToSignificantUnobservableInputsTableTextBlock
Namespace Prefix: | bch_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of level hierarchy classification of other assets and liabilities not measured at fair value on the balance sheet. + References No definition available. + Details
Name: | bch_DisclosureOfLevelHierarchyClassificationOfOtherAssetsAndLiabilitiesNotMeasuredAtFairValueOnBalanceSheetTableTextBlock
Namespace Prefix: | bch_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of assets and liabilities for which there exists a significant risk of material adjustment within the next year. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 125 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_125&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfFairValueMeasurementOfAssetsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the fair value of financial instruments. [Refer: Classes of financial instruments [domain]; At fair value [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of significant inputs for which market data are not available and that are developed using the best information available about the assumptions that market participants would use when measuring the fair value of assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2024-01-01 -Paragraph 93 -Subparagraph d -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2024-en-r&anchor=para_93_d&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration