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Contingencies and Commitments | 12 Months Ended
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Dec. 31, 2024
Contingencies and Commitments [Abstract] |
Contingencies and Commitments |
| 28. | Contingencies and Commitments:
| (a) | The Bank and its subsidiaries have exposures associated with contingent loans and other liabilities according to the following detail:
| (a.1) | Contingent loans:
|  | 2024 |  |  | 2023 |
|  | MCh$ |  |  | MCh$ |
Guarantees and sureties |  |  |  |  |  |
Guarantees and sureties in chilean currency |  |  | — |  |  |  | — |
Guarantees and sureties in foreign currency |  |  | 336,737 |  |  |  | 351,531 |
Letters of credit for goods circulation operations |  |  | 442,216 |  |  |  | 350,604 |
Debt purchase commitments in local currency abroad |  |  | — |  |  |  | — |
Transactions related to contingent events |  |  |  |  |  |  |  |
Transactions related to contingent events in chilean currency |  |  | 2,544,288 |  |  |  | 2,209,109 |
Transactions related to contingent events in foreign currency |  |  | 580,338 |  |  |  | 431,188 |
Undrawn credit lines with immediate termination |  |  |  |  |  |  |  |
Balance of lines of credit and agreed overdraft in current account – commercial loans |  |  | 1,642,163 |  |  |  | 1,581,711 |
Balance of lines of credit on credit card – commercial loans |  |  | 359,638 |  |  |  | 317,560 |
Balance of lines of credit and agreed overdraft in current account – consumer loans |  |  | 1,497,076 |  |  |  | 1,476,241 |
Balance of lines of credit on credit card – consumer loans |  |  | 7,626,423 |  |  |  | 6,708,946 |
Balance of lines of credit and agreed overdraft in current account – due from banks loans |  |  | — |  |  |  | — |
Undrawn credit lines |  |  | — |  |  |  | — |
Other commitments |  |  |  |  |  |  |  |
Credits for higher studies Law No. 20,027 (CAE) |  |  | — |  |  |  | — |
Other irrevocable credit commitments |  |  | 51,889 |  |  |  | 120,545 |
Other credit commitments |  |  | — |  |  |  | — |
Total |  |  | 15,080,768 |  |  |  | 13,547,435 |
| (a.2) | Responsibilities assumed to meet customer needs:
|  | 2024 |  |  | 2023 |
|  | MCh$ |  |  | MCh$ |
Transactions on behalf of third parties |  |  |  |  |  |
Collections |  |  | 214,446 |  |  |  | 176,146 |
Placement or sale of financial instruments |  |  | — |  |  |  | — |
Transferred financial assets managed by the bank |  |  | — |  |  |  | — |
Third-party resources managed by the bank |  |  | 1,147,660 |  |  |  | 921,105 |
Subtotal |  |  | 1,362,106 |  |  |  | 1,097,251 |
Securities custody |  |  |  |  |  |  |  |
Securities safekept by a banking subsidiary |  |  | 7,443,549 |  |  |  | 6,267,729 |
Securities safekept by the Bank |  |  | 3,318,810 |  |  |  | 3,133,770 |
Securities safekept deposited in another entity |  |  | 19,509,831 |  |  |  | 17,238,292 |
Securities issued by the bank |  |  | — |  |  |  | — |
Subtotal |  |  | 30,272,190 |  |  |  | 26,639,791 |
Total |  |  | 31,634,296 |  |  |  | 27,737,042 |
| (b) | Lawsuits and legal proceedings:
| (b.1) | Normal judicial contingencies in the industry:
At the date of issuance of these Consolidated Financial Statements, there are legal actions filed against the Bank related with the ordinary course operations. As of December 31, 2024, the Bank maintain provisions for judicial contingencies amounting to Ch$1,592 million (Ch$1,173 million as of December 2023), which are part of the item “Provisions for contingencies” in the Statement of Financial Position. The estimated end dates of the respective legal contingencies are as follows:
|  | As of December 31, 2024 |
|  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Total |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Legal contingencies |  |  | 1,101 |  |  |  | 491 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,592 |
| (b.2) | Contingencies for significant lawsuits:
As of December 31, 2024 and 2023, there are not significant lawsuits in court that affect or may affect these Consolidated Financial Statements.
| (c) | Guarantees granted by operations:
| (i) | In subsidiary Banchile Administradora General de Fondos S.A.:
In compliance with Article No, 12 of Law No. 20,712, Banchile Administradora General de Fondos S.A., has designated Banco de Chile as the representative of the beneficiaries of the guarantees it has established, and in such role the Bank has issued bank guarantees totaling UF 3,445,900 maturing January 8, 2025 (UF 4,153,500, maturing on January 6, 2023). The subsidiary took a policy with Mapfre Seguros Generales S.A. for the Real State Funds by a guaranteed amount of UF 858,000. As of December 31, 2024 and 2023, the Bank has not guaranteed mutual funds.
| (ii) | In subsidiary Banchile Corredores de Bolsa S.A.:
For the purposes of ensuring correct and complete compliance with all of its obligations as broker-dealer entity, in conformity with the provisions from Article 30 and subsequent of Law No. 18,045 on Securities Markets, the subsidiary established a guarantee in an insurance policy for UF 20,000, insured by Mapfre Seguros Generales S.A., that matures April 22, 2026, whereby the Securities Exchange of the Santiago Stock Exchange was appointed as the subsidiary’s creditor representative.
|  | 2024 |  |  | 2023 |
Guarantees: |  | MCh$ |  |  | MCh$ |
Shares received as collateral for simultaneous operations: |  |  |  |  |  |
Santiago Securities Exchange, Stock Exchange |  |  | 9,171 |  |  |  | 17,070 |
Electronic Chilean Securities Exchange, Stock Exchange |  |  | 32,024 |  |  |  | 11,432 |
Fixed income securities delivered to guarantee CCLV system: |  |  |  |  |  |  |  |
Santiago Securities Exchange, Stock Exchange |  |  | 7,843 |  |  |  | 7,820 |
Fixed income securities as collateral for the Santiago Stock Exchange |  |  | 2,148 |  |  |  | 2,142 |
Shares delivered to guarantee equity lending and short-selling: |  |  |  |  |  |  |  |
Santiago Securities Exchange, Stock Exchange |  |  | 4,744 |  |  |  | 2,350 |
Cash guarantees received for operations with derivatives |  |  | 3,931 |  |  |  | 1,062 |
Cash guarantees for operations with derivatives |  |  | 4,043 |  |  |  | 6,142 |
Equity securities received for operations with derivatives |  |  |  |  |  |  |  |
Electronic Chilean Securities Exchange, Stock Exchange |  |  | 101 |  |  |  | 189 |
Depósito Central de Valores S.A. |  |  | 2,227 |  |  |  | 276 |
Total |  |  | 66,232 |  |  |  | 48,483 |
In conformity with the internal regulation of the stock exchanges in which it participates, and for the purpose of ensuring its proper performance, the subsidiary Corredores de Bolsa S.A maintains in favor of the Santiago Stock Exchange a guarantee in fixed income financial instruments equivalent to Ch$2,148 million. It also maintains a pledge in favor of the Electronic Stock Exchange for three hundred thousand shares of said institution. Banchile Corredores de Bolsa S.A. keeps an insurance policy current with Chubb Seguros Chile S.A. that expires June 30, 2025, this considers matters of employee fidelity, physical losses, falsification or adulteration, and currency fraud with a coverage amount equivalent to US$20,000,000. It also provided a bank guarantee in the amount of UF 317,900 for the benefits of investors in portfolio management contracts. This bank guarantee is revaluated in UF to fixed term, non-endorsable and has a maturity date of January 9, 2025. It also provided a cash guarantee in the amount of US$122,494.32 for the purpose of complying with the obligations to Pershing, for any operations conducted through that broker, additionally, there are US$1,205,737.56 for variable income operations. A guarantee corresponding to UF 10,000 has been constituted, to guarantee compliance with the investment portfolio management service contract. Said guarantee corresponds to a non-endorsable fixed-term readjustable bond in UF issued by Banco de Chile with validity until January 27, 2026.
| (iii) | In subsidiary Banchile Corredores de Seguros Ltda.
According to established in article 58, letter D of D.F.L. 251, as of December 31, 2024 the entity maintains two insurance policies with effect from April 15, 2024 to April 14, 2025 which protect it against of potential damages caused by infractions of the law, regulations and complementary rules that regulate insurance brokers, especially when the non-compliance comes from acts, errors or omissions of the broker, its representatives, agents or dependents that participate in the intermediation. The policies contracted are:
Matter insured |  | Amount Insured (UF) |
Errors and omissions liability policy |  |  | 500 |
Civil responsibility policy |  |  | 60,000 |
| (d) | Exempt Resolution No. 270 dated October 30, 2014, the Superintendency of Securities and Insurance (current Commission for the Financial Market) imposed a fine of UF 50,000 to Banchile Corredores de Bolsa S.A. for violations of the second paragraph of article 53 of the Securities Market Law, said company filed a claim with the competent Civil Court requesting the annulment of the fine. On December 10, 2019, a judgement in the case was issued reducing the fine to the amount of UF 7,500, which was confirmed in the second instance by the Illustrious Court of Appeals of Santiago. The intervening parties filed cassation appeals in form and substance before the Supreme Court against the sentence in second instance. On August 13, 2024 the Supreme Court ordered the hearing of the case, which is pending as of this date.
The company has not made provisions considering that the Bank’s legal advisors in charge of the procedure estimate that there are solid grounds that the claim filed by Banchile Corredores de Bolsa S.A. can be accepted.

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