6-K 1 ea0239524-6k_bankofchile.htm REPORT OF FOREIGN PRIVATE ISSUER

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of April, 2025

Commission File Number 001-15266

BANK OF CHILE
(Translation of registrant's name into English)

Ahumada 251
Santiago, Chile
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F þ Form 40-F ☐

Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No þ

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________

BANCO DE CHILE AND SUBSIDIARIES

(Free translation of Consolidated Financial Statements originally issued in Spanish)

INDEX

I.		Interim Consolidated Statements of Financial Position
II.		Interim Consolidated Statements of Income
III.		Interim Consolidated Statements of Other Comprehensive Income
IV.		Interim Consolidated Statements of Cash Flows
V.		Interim Consolidated Statements of Changes in Equity
VI.		Notes to the Interim Consolidated Financial Statements

MCh$	=	Millions of Chilean pesos
BCh$	=	Billions of Chilean pesos
MUS$	=	Millions of U.S. dollars
ThUS$	=	Thousands of U.S. dollars
UF or CLF	=	Unidad de Fomento
		(The UF is an inflation-indexed, Chilean peso denominated monetary unit set daily in advance on the basis of the previous month’s inflation rate).

Ch$ or CLP	=	Chilean pesos
US$ or USD	=	U.S. dollar
JPY	=	Japanese yen

EUR	=	Euro

HKD	=	Hong Kong dollar

CHF	=	Swiss Franc
PEN	=	Peruvian sol
AUD	=	Australian dollar
NOK	=	Norwegian krone
MXN	=	Mexican peso

IFRS	=	International Financial Reporting Standards
IAS	=	International Accounting Standards
RAN	=	Actualized Standards Compilation issued by the Chilean Commission for the Financial Market (“CMF”)
IFRIC	=	International Financial Reporting Interpretations Committee
SIC	=	Standards Interpretation Committee

BANCO DE CHILE AND SUBSIDIARIES

INDEX

		Page
Interim Consolidated Statements of Financial Position		4
Interim Consolidated Statements of Income		6
Interim Consolidated Statements of Other Comprehensive Income		8
Interim Consolidated Statements of Cash Flows		9
Interim Consolidated Statements of Changes in Equity		11
1.	Company information:	12
2.	Main Accounting Criteria Used:	13
3.	New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted:	50
4.	Accounting Changes:	53
5.	Relevant Events:	54
6.	Business Segments:	55
7.	Cash and Cash Equivalents:	58
8.	Financial Assets Held for Trading at Fair Value through Profit or Loss:	59
9.	Non-trading Financial Assets mandatorily measured at Fair Value through Profit or Loss:	61
10.	Financial Assets and Liabilities designated as at Fair Value through Profit or Loss:	61
11.	Financial Assets at Fair Value through Other Comprehensive Income:	62
12.	Derivative Financial Instruments for hedging purposes:	64
13.	Financial assets at amortized cost:	67
14.	Investments in other companies:	87
15.	Intangible Assets:	89
16.	Property and equipment:	90
17.	Right-of-use assets and Lease liabilities:	91
18.	Taxes:	93
19.	Other Assets:	98
20.	Non-current assets and disposal groups held for sale and Liabilities included in disposal groups for sale:	99
21.	Financial liabilities held for trading at fair value through profit or loss:	100
22.	Financial liabilities at amortized cost:	101
23.	Financial instruments of regulatory capital issued:	105
24.	Provisions for contingencies:	108
25.	Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued:	112
26.	Special provisions for credit risk:	113
27.	Other Liabilities:	114
28.	Equity:	115
29.	Contingencies and Commitments:	120
30.	Interest Revenue and Expenses:	124
31.	UF indexation revenue and expenses:	126
32.	Income and Expenses from commissions:	128
33.	Net Financial income (expense):	129
34.	Income attributable to investments in other companies:	130
35.	Result from non-current assets and disposal groups held for sale not admissible as discontinued operations:	131
36.	Other operating Income and Expenses:	131
37.	Expenses from salaries and employee benefits:	132
38.	Administrative expenses:	133
39.	Depreciation and Amortization:	134
40.	Impairment of non-financial assets:	134
41.	Credit loss expense:	135
42.	Income from discontinued operations:	137
43.	Related Party Disclosures:	137
44.	Fair Value of Financial Assets and Liabilities:	144
45.	Maturity according to their remaining Terms of Financial Assets and Liabilities:	156
46.	Financial and Non-Financial Assets and Liabilities by Currency:	160
47.	Risk Management and Report:	161
48.	Information on Regulatory Capital and Capital Adequacy Ratios:	201
49.	Subsequent Events:	205

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

For the periods ended March 31, 2025 and December 31, 2024

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March		December
	Notes		2025		2024
ASSETS			MCh$		MCh$
Cash and due from banks		7		2,331,207		2,699,076
Transactions in the course of collection		7		356,737		372,456
Financial assets held for trading at fair value through profit or loss:
Derivative financial instruments		8		2,044,549		2,303,353
Debt financial instruments		8		2,750,521		1,714,381
Others		8		332,337		411,689
Non-trading financial assets mandatorily measured at fair value through profit or loss		9		—		—
Financial assets at fair value through profit or loss		10		—		—
Financial assets at fair value through other comprehensive income:
Debt financial instruments		11		1,947,733		2,088,345
Others		11		—		—
Derivative financial instruments for hedging purposes		12		47,108		73,959
Financial assets at amortized cost:
Rights from resale agreements and securities lending		13		99,283		87,291
Debt financial instruments		13		929,266		944,074
Loans and advances to Banks		13		1,699,865		666,815
Loans to customers - Commercial loans		13		19,889,443		19,724,933
Loans to customers - Residential mortgage loans		13		13,459,612		13,180,186
Loans to customers - Consumer loans		13		5,148,947		5,183,917
Investments in other companies		14		78,911		76,769
Intangible assets		15		162,412		158,556
Property and equipment		16		186,610		189,073
Right-of-use assets		17		92,361		96,879
Current tax assets		18		148,726		159,869
Deferred tax assets		18		553,227		556,829
Other assets		19		1,477,960		1,373,541
Non-current assets and disposal groups held for sale		20		33,089		33,450
TOTAL ASSETS				53,769,904		52,095,441

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

For the periods ended March 31, 2025 and December 31, 2024

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			December
	Notes		2025			2024
LIABILITIES			MCh$			MCh$
Transactions in the course of payment		7		534,594			283,605
Financial liabilities held for trading at fair value through profit or loss:
Derivative financial instruments		21		2,192,952			2,444,806
Others		21		6,524			990
Financial liabilities designated as at fair value through profit or loss		10		—			—
Derivative Financial Instruments for hedging purposes		12		200,844			141,040
Financial liabilities at amortized cost:
Current accounts and other demand deposits		22		14,560,376			14,263,303
Saving accounts and time deposits		22		15,507,444			14,168,703
Obligations by repurchase agreements and securities lending		22		141,790			109,794
Borrowings from financial institutions		22		1,312,028			1,103,468
Debt financial instruments issued		22		9,989,666			9,690,069
Other financial obligations		22		320,709			284,479
Lease liabilities		17		87,208			91,429
Financial instruments of regulatory capital issued		23		1,087,573			1,068,879
Provisions for contingencies		24		149,669			194,753
Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued		25		153,537			597,228
Special provisions for credit risk		26		730,843			774,184
Currents tax liabilities		18		1,400			132
Deferred tax liabilities		18		1,760			166
Other liabilities		27		1,395,627			1,255,412
Liabilities included in disposal groups held for sale		20		—			—
TOTAL LIABILITIES				48,374,544			46,472,440

EQUITY
Capital		28		2,420,538			2,420,538
Reserves		28		711,658			709,742
Accumulated other comprehensive income
Elements that are not reclassified in profit and loss		28		5,897			7,552
Elements that can be reclassified in profit and loss		28		(8,932	)		(3,775	)
Retained earnings from previous period		28		2,090,790			1,878,778
Income for the period		28		328,944			1,207,392
Less: Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued		28		(153,537	)		(597,228	)
Shareholders of the Bank		28		5,395,358			5,622,999
Non-controlling interests		28		2			2
TOTAL EQUITY				5,395,360			5,623,001
TOTAL LIABILITIES AND EQUITY				53,769,904			52,095,441

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2025			2024
			MCh$			MCh$
Interest revenue		30		664,976			800,766
Interest expense		30		(235,414	)		(337,325	)
Net interest income				429,562			463,441

UF indexation revenue		31		249,053			154,693
UF indexation expenses		31		(132,944	)		(87,800	)
Net income from UF indexation				116,109			66,893

Income from commissions		32		192,993			179,937
Expenses from commissions		32		(36,144	)		(42,465	)
Net income from commissions				156,849			137,472

Financial income (expense) for:
Financial assets and liabilities held for trading		33		42,146			(4,243	)
Non-trading financial assets mandatorily measured at fair value through profit or loss		33		—			—
Financial assets and liabilities designated as at fair value through profit or loss		33		—			—
Result from derecognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income		33		1,013			2,539
Exchange, indexation and accounting hedging of foreign currency		33		17,483			106,447
Reclassification of financial assets for changes in the business model		33		—			—
Other financial result		33		—			—
Net Financial income (expense)		33		60,642			104,743

Income attributable to investments in other companies		34		1,734			218
Result from non-current assets and disposal groups held for sale not admissible as discontinued operations		35		240			(1,013	)
Other operating income		36		14,080			8,592
TOTAL OPERATING INCOME				779,216			780,346

Expenses from salaries and employee benefits		37		(140,916	)		(141,410	)
Administrative expenses		38		(107,096	)		(109,223	)
Depreciation and amortization		39		(23,647	)		(23,402	)
Impairment of non-financial assets		40		(9	)		(94	)
Other operating expenses		36		(9,370	)		(9,715	)
TOTAL OPERATING EXPENSES				(281,038	)		(283,844	)

OPERATING RESULT BEFORE CREDIT LOSSES				498,178			496,502

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2025			2024
			MCh$			MCh$
Credit loss expense for:
Provisions for credit risk of loans and advances to banks and loans to customers		41		(149,489	)		(118,806	)
Special provisions for credit risk		41		42,622			(6,038	)
Recovery of written-off credits		41		16,720			13,161
Impairments for credit risk from other financial assets at amortized cost and financial assets at fair value through other comprehensive income		41		(57	)		(1,485	)
Credit loss expense		41		(90,204	)		(113,168	)

NET OPERATING INCOME				407,974			383,334

Income from continuing operations before tax				407,974			383,334
Income tax		18		(79,030	)		(85,679	)

Income from continuing operations after tax				328,944			297,655

Income from discontinued operations before tax				—			—
Income tax from discontinued operations		18		—			—

Income from discontinued operations after tax		42		—			—

NET INCOME FOR THE PERIOD		28		328,944			297,655

Attributable to:
Shareholders of the Bank		28		328,944			297,655
Non-controlling interests				—			—

Earnings per share:			$			$
Basic earnings		28		3.26			2.95
Diluted earnings		28		3.26			2.95

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF

OTHER COMPREHENSIVE INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2025			2024
			MCh$			MCh$
NET INCOME FOR THE PERIOD		28		328,944			297,655

ITEMS NOT TO BE RECLASSIFIED TO PROFIT OR LOSS
Re-measurement of the liability (asset) for net defined benefits and actuarial results for other employee benefit plans		28		(62	)		115
Fair value changes of equity instruments designated as at fair value through other comprehensive income		28		(1,492	)		518
Fair value changes of financial liabilities designated as at fair value through profit or loss attributable to changes in the credit risk of the financial liability		28		—			—
Others		28		—			—
OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS BEFORE TAX				(1,554	)		633

Income tax on other comprehensive income that will not be reclassified to profit or loss		18		(101	)		(171	)

TOTAL OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO INCOME AFTER TAXES		28		(1,655	)		462

ELEMENTS THAT CAN BE RECLASSIFIED TO PROFIT OR LOSS
Fair value changes of financial assets at fair value through other comprehensive income		28		2,303			6,440
Cash flow hedges		28		(9,884	)		(5,247	)
Participation in other comprehensive income of entities registered under the equity method		28		5			7

OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO INCOME BEFORE TAXES				(7,576	)		1,200

Income tax on other comprehensive income that can be reclassified to profit or loss		28		2,419			(1,012	)

TOTAL OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO PROFIT OR LOSS AFTER TAX		28		(5,157	)		188

TOTAL OTHER COMPREHENSIVE INCOME FOR THE PERIOD		28		(6,812	)		650

CONSOLIDATED COMPREHENSIVE INCOME FOR THE PERIOD				322,132			298,305

Attributable to:
Shareholders of the Bank				322,132			298.305
Non-controlling interests				—			—

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2025			2024
CASH FLOWS FROM OPERATING ACTIVITIES:			MCh$			MCh$
Profit for the period before taxes				407,974			383,334
Income tax		18		(79,030	)		(85,679	)
Profit for the period after taxes				328,944			297,655
Charges (credits) to income (loss) that do not represent cash flows:
Depreciation and amortization		39		23,647			23,402
Impairment of non-financial assets		40		9			94
Provisions for credit losses				148,727			123,628
Provisions for contingencies		41		27,232			2,701
Additional provisions		41		(69,035	)		—
Fair value of debt financial instruments held for trading at fair value through in profit or loss				(2,016	)		(476	)
Change in deferred tax assets and liabilities		18		4,862			21,025
Net (income) loss from investments in companies with significant influence		34		(1,734	)		(189	)
Net (income) loss on sale of assets received in payments				(303	)		(266	)
Net (income) loss on sale of sale of fixed assets		35		(2,111	)		(88	)
Write-offs of assets received in payment		35		5,459			2,511
Other charges (credits) that do not represent cash flows				4,944			8,431
Net change in exchange rates, interest, readjustments and commissions accrued on assets and liabilities				55,611			90,792

Changes due to (increase) decrease in assets and liabilities affecting the operating flow:
Net ( increase ) decrease in accounts receivable from banks				(1,029,784	)		1,302,631
Net ( increase ) decrease in loans and accounts receivables from customers				(458,810	)		(554,092	)
Net ( increase ) decrease of debt financial instruments held for trading at fair value through profit or loss				108,394			137,551
Net ( increase ) decrease in other assets and liabilities				83,741			(222,838	)
Increase ( decrease ) in deposits and other demand obligations				296,116			218,754
Increase ( decrease ) in repurchase agreements and securities loans				41,663			32,265
Increase ( decrease ) in deposits and other time deposits				1,332,842			272,266
Sale of assets received in lieu of payment				4,756			4,161
Increase ( decrease ) in obligations with foreign banks				202,383			256,338
Increase ( decrease ) in other financial obligations				36,230			(65,302	)
Increase ( decrease ) in obligations with the Central Bank of Chile				—			—
Net increase ( decrease ) of debt financial instruments at fair value through other comprehensive income				142,190			569,761
Net (increase) decrease of financial instruments at amortized cost				18,585			(2,607,287	)
Total net cash flows provided by (used in) operating activities				1,302,542			(86,572	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Leasehold improvements		17		(13	)		(558	)
Fixed assets purchase		16		(4,483	)		(4,050	)
Fixed assets sale				2,779			292
Disposal of investments in companies				—			—
Acquisition of intangibles		15		(13,884	)		(15,592	)
Dividend received of investments in companies				—			29
Total net cash flows from (used in) investing activities				(15,601	)		(19,879	)

CASH FLOW FROM FINANCING ACTIVITIES:
Attributable to the interest of the owners:
Redemption and payment of interest of letters of credit				(141	)		(192	)
Redemption and payment of interest on current bonds				(172,606	)		(264,766	)
Redemption and payment of interest on subordinated bonds				(3,140	)		(3,008	)
Current bonds issuance		22		373,284			314,872
Subordinated bonds issuance				—			—
Payment of common stock dividends		28		(995,380	)		(815,932	)
Principal and interest payments for obligations under lease contracts		17		(7,712	)		(7,245	)
Attributable to non-controlling interest:
Dividend payment and/or withdrawals of paid-in capital in respect of the subsidiaries corresponding to the non-controlling interest				—			—
Total net cash flows from (used in) financing activities				(805,695	)		(776,271	)

VARIATION IN CASH AND CASH EQUIVALENTS DURING THE PERIOD				481,246			(882,722	)

Effect of exchange rate changes on cash and cash equivalents				(37,865	)		185,810

Opening balance of cash and cash equivalent		7		4,489,586			5,544,147

Final balance of cash and cash equivalent		7		4,932,967			4,847,235

	March			March
	2025			2024
	MCh$			MCh$
Interest operating cash flow:
Interest and readjustments received		797,844			899,330
Interest and readjustments paid		(270,408	)		(375,586	)

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

Reconciliation of liabilities arising from financing activities:

						Changes other than Cash
	12.31.2024		Net Cash Flow			Acquisition / (Disposals)		Foreign currency			UF Movement		03.31.2025
	MCh$		MCh$			MCh$		MCh$			MCh$		MCh$

Letters of credit		850		(141	)		—		—			8		717
Bonds		10,758,098		197,538			—		(54,918	)		175,804		11,076,522
Dividends paid		—		(995,380	)		—		—			—		(995,380	)
Obligations for lease contracts		91,429		(7,712	)		1,953		—			1,538		87,208
Dividend payment and/or withdrawals of paid-in capital in respect of the subsidiaries corresponding to the non-controlling interest		—		—			—		—			—		—
Total liabilities from financing activities		10,850,377		(805,695	)		1,953		(54,918	)		177,350		10,169,067

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

for the period between January 1, and March 31, 2025 and 2024

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			Attributable to shareholders of the Bank
	Note		Capital		Reserves		Accumulated other comprehensive income			Retained earnings from previous years and income (loss) for the years			Total			Non- controlling interests			Total Equity
			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$

Opening balances as of January 1, 2024				2,420,538		709,742		24,242			2,082,761			5,237,283			2			5,237,285
Dividends distributed and paid		28		—		—		—			(815,932	)		(815,932	)		(1	)		(815,933	)
Application of provision for payment of common stock dividends				—		—		—			611,949			611,949			—			611,949
Provision for payment of common stock dividends		28		—		—		—			(156,699	)		(156,699	)		—			(156,699	)
Subtotal: transactions with owners during the period				—		—		—			(360,682	)		(360,682	)		(1	)		(360,683	)
Income for the period 2024		28		—		—		—			297,655			297,655			—			297,655
Other comprehensive income for the period		28		—		—		650			—			650			—			650
Subtotal: Comprehensive income for the period				—		—		650			297,655			298,305			—			298,305
Balances as of March 31, 2024				2,420,538		709,742		24,892			2,019,734			5,174,906			1			5,174,907
Dividends distributed and paid				—		—		—			—			—			1			1
Application of provision for payment of common stock dividends				—		—		—			—			—			—			—
Provision for payment of common stock dividends				—		—		—			(440,529	)		(440,529	)		—			(440,529	)
Subtotal: transactions with owners during the period				—		—		—			(440,529	)		(440,529	)		1			(440,528	)
Income for the period 2024				—		—		—			909,737			909,737			—			909,737
Other comprehensive income for the period				—		—		(21,115	)		—			(21,115	)		—			(21,115	)
Subtotal: Comprehensive income for the period				—		—		(21,115	)		909,737			888,622			—			888,622
Balances as of December 31, 2024				2,420,538		709,742		3,777			2,488,942			5,622,999			2			5,623,001
Dividends distributed and paid		28		—		—		—			(995,380	)		(995,380	)		—			(995,380	)
Application of provision for payment of common stock dividends		28		—		—		—			597,228			597,228			—			597,228
Provision for payment of common stock dividends		28		—		—		—			(153,537	)		(153,537	)		—			(153,537	)
Subtotal: transactions with owners during the period				—		—		—			(551,689	)		(551,689	)		—			(551,689	)
Income for the period 2025		28		—		—		—			328,944			328,944			—			328,944
Other comprehensive income for the period		28		—		1,916		(6,812	)		—			(4,896	)		—			(4,896	)
Subtotal: Comprehensive income for the period				—		1,916		(6,812	)		328,944			324,048			—			324,048
Balances as of March 31, 2025				2,420,538		711,658		(3,035	)		2,266,197			5,395,358			2			5,395,360

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

BANCO DE CHILE AND SUBSIDIARIES

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Free translation of Consolidated Financial Statements originally issued in Spanish)

Company information:

Banco de Chile is authorized to operate as a commercial bank since September 17, 1996, being, in conformity with the stipulations of article 25 of Law No. 19,396, the legal continuation of Banco de Chile resulting from the merger of the Banco Nacional de Chile, Banco Agrícola and Banco de Valparaiso, which was constituted by public deed dated October 28, 1893, granted before the Notary Public of Santiago, Mr. Eduardo Reyes Lavalle, authorized by Supreme Decree of November 28, 1893.

The Bank is a Corporation organized under the laws of the Republic of Chile, regulated by the Chilean Commission for the Financial Market (“CMF”). Since 2001, it is subject to the supervision of the Securities and Exchange Commission of the United States of America (“SEC”), in consideration of the fact that the Bank is registered on the New York Stock Exchange (“NYSE”), through a program of American Depositary Receipt (“ADR”).

Banco de Chile offers a broad range of banking services to its customers, ranging from individuals to large corporations. Additionally, the Bank offers international as well as treasury banking services, in addition to those offered by subsidiaries that include securities brokerage, mutual fund and investment management, insurance brokerage and financial advisory services.

Banco de Chile’s legal address is Ahumada 251, Santiago, Chile and its website is www.bancochile.cl.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used:

(a)

Legal Dispositions:

Decree Law No. 3,538 of 1980, according to the text replaced by the first article of Law No. 21,000 that “Creates the Commission for the Financial Market”, provides in numeral 6 of its article 5 that the Commission for the Market Financial (“CMF”) may “set the standards for the preparation and presentation of reports, balance sheets, statements of situation and other financial statements of the audited entities and determine the principles under which they must keep their accounting”.

According to the current legal framework, banks must use the accounting principles provided by the CMF and in everything that is not dealt with by it or in contravention of its instructions, they must adhere to the generally accepted accounting principles, which correspond to the technical standards issued by the College of Accountants of Chile AG, coinciding with the International Financial Reporting Standards (“IFRS”) agreed by the International Accounting Standards Board (“IASB”). If there are discrepancies between these accounting principles of general acceptance and the accounting criteria issued by the CMF, the latter shall prevail.

The notes to the Interim Consolidated Financial Statements contain additional information to that presented in the Consolidated Statement of Financial Position, Consolidated Statement of Income, Consolidated Statement of Other Comprehensive Income, Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows. They provide narrative descriptions or disaggregation of such statements in a clear, relevant, reliable and comparable way.

(b)

Basis of Consolidation:

The Interim Consolidated Financial Statements of Banco de Chile as of March 31, 2025 and 2024, have been consolidated with its subsidiaries, using the global integration method (line-by-line). They include preparation of individual Financial Statements of the Bank and companies that participate in the consolidation and it include adjustments and reclassifications necessary to homologue accounting policies and valuation criteria applied by the Bank. The Interim Consolidated Financial Statements have been prepared using the same accounting policies for similar transactions and other events, in equivalent circumstances.

Significant intercompany transactions and balances (assets and liabilities, equity, income, expenses and cash flows) originated in operations performed between the Bank and its subsidiaries and between subsidiaries have been eliminated in the consolidation process. The non-controlling interest corresponding to the participation percentage of third parties in subsidiaries, which the Bank does not own directly or indirectly, has been recognized and is shown separately in the consolidated shareholders’ equity and consolidated income statement of Banco de Chile.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Controlled companies (Subsidiaries):

Interim Consolidated Financial Statements as of of March 31, 2025 and 2024 incorporate Financial Statements of the Bank and the controlled companies (subsidiaries) in accordance with IFRS 10 “Consolidated Financial Statements”.

The entities controlled by the Bank and which form parts of the consolidation are detailed as follows:

				Interest Owned
				Direct				Indirect				Total
			Functional	March		December		March		December		March		December
Rut	Entity	Country	Currency	2025		2024		2025		2024		2025		2024
				%		%		%		%		%		%
96,767,630-6	Banchile Administradora General de Fondos S.A.	Chile	Ch$		99.98		99.98		0.02		0.02		100.00		100.00
96,543,250-7	Banchile Asesoría Financiera S.A.	Chile	Ch$		99.96		99.96		—		—		99.96		99.96
77,191,070-K	Banchile Corredores de Seguros Ltda.	Chile	Ch$		99.83		99.83		0.17		0.17		100.00		100.00
96,571,220-8	Banchile Corredores de Bolsa S.A.	Chile	Ch$		99.70		99.70		0.30		0.30		100.00		100.00
96,645,790-2	Socofin S.A. (**)	Chile	Ch$		99.00		99.00		1.00		1.00		100.00		100.00
77,955,969-6	Operadora de Tarjetas B-Pago S.A. (*)	Chile	Ch$		99.90		99.90		0.10		0.10		100.00		100.00

(*)

On July 29, 2024, the public deed of incorporation of the subsidiary company of Banco de Chile was signed, Operadora de Tarjetas B-Pago S.A.

(**)

See Note No. 49 letter (b) on Subsequent Events.

−

Investments in associates and joint ventures:

Associated entities are those over which the Bank has the capacity to exercise significant influence, without having control over the associate.

Investments in associates where exists significant influence, are accounted for using the equity method (Note No. 14 Investments in other companies).

Joint Ventures are joint arrangements whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Joint control exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

Investments defined as a “Joint Venture” will be registered according to the equity method.

The investment in other companies that, due to its characteristics, is defined as “Joint Venture” is Servipag Ltda.

−

Minority investments in other companies:

On initial recognition, the Bank and subsidiaries may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is not held for trading and is not contingent consideration recognized by an acquirer in a business combination to which IFRS 3 applies.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Fund administration:

The Bank and its subsidiaries manage and administer assets held in mutual funds and other investment products on behalf of investors, perceiving a payment according to the service provided and market conditions. Managed resources are owned by third parties and, therefore, not included in the Consolidated Statements of Financial Position.

According to established in IFRS 10, for consolidation purposes is necessary to assess the role of the Bank and its subsidiaries with respect to the funds they manage, must determine whether that role is Agent or Principal.

The Bank and its subsidiaries manage on behalf and for the benefit of investors, acting in that relationship only as Agent. Under this category, and as provided in the aforementioned regulation, it does not control such funds when exercise its authority to make decisions. Therefore, as of March 31, 2025 and 2024 act as agent, and therefore do not consolidate any fund, no funds are part of the consolidation.

(c)

Non-controlling interest:

Non-controlling interest represents the share of losses, income and net assets of which, directly or indirectly, the Bank does not own. It is presented separately from the equity of the owners of the Bank in the Consolidated Statements of Income and the Consolidated Statements of Financial Position.

(d)

Use of Estimates and Judgment:

Preparing Interim Consolidated Financial Statements requires Management to make judgments, estimations and assumptions that affect the application of accounting policies and the valuation of assets, liabilities, income and expenses presented. Real results could differ from these estimated amounts. The estimates made refer to:

Losses due to impairment of assets and liabilities (Notes No. 11, 13, 15, 16, 17 and No. 40);

Provision for credit risk (Notes No. 13, 26 and 41);

Expenses for amortization of intangible assets, depreciation of property and equipment and leased assets and lease liabilities (Notes No. 15, 16 and 17);

Income taxes and deferred taxes (Note No. 18);

Provisions (Note No. 24);

Contingencies and Commitments (Note No. 29);

Fair value of financial assets and liabilities (Notes No. 8, 11, 12, 21 and 44).

Estimates and relevant assumptions are regularly reviewed by the management in order to quantify certain assets, liabilities, income, expenses and commitments.

During the period ended March 31, 2025 there have been no significant changes in the estimates made with the exception of what is indicated in Note No. 4 Accounting Changes.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(e)

Financial Assets:

The classification, measurement and presentation of financial assets has been carried out based on the standards issued by the CMF in the Compendium of Accounting Standards for Banks or “CNCB” (as abbreviated in Spanish), considering the criteria described below:

Classification of financial assets:

On initial recognition, a financial asset is classified within the following categories: Financial assets held for trading at fair value through profit or loss; Financial assets not held for trading mandatorily valued at fair value through profit or loss; Financial assets designated as at fair value through profit or loss; Financial assets at fair value through other comprehensive income and Financial assets at amortized cost.

The criteria for classifying financial assets, which incorporates the standards defined in IFRS 9, depends on the business model with which the entity manages the assets and the contractual characteristics of the cash flows, commonly known as “Solely Payments of Principal and Interest” (SPPI) criterion.

The valuation of these assets should reflect how the Bank manages groups of financial assets and does not depend on the intent for an individual instrument.

A financial asset should be valued at amortized cost if both of the following conditions are met:

It is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

The contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest.

A debt financial instrument must be valued at fair value with changes in “Other comprehensive income” if the following two conditions are met:

It is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and

The contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt financial instrument will be classified at fair value through profit or loss whenever, due to the business model or the characteristics of its contractual cash flows, it is not appropriate to classify it in any of the other categories described.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

Valuation of financial assets:

Initial recognition:

Financial assets are initially recognized at fair value plus, in the case of a financial asset that is not carried at fair value through profit or loss, the transaction costs that are directly attributable to its purchase or issuance, using the Effective Interest Rate method (EIT). The calculation of the EIT includes all fees and other items paid or received that are part of the EIT. Transaction costs include incremental costs that are directly attributable to the acquisition or issuance of a financial asset.

Post measurement:

All variations in the value of financial assets due to the accrual of interest and items assimilated to interest are recorded in “Interest income” or “Interest expense” of the Consolidated Income Statement for the year in which the accrual occurred, except for trading derivatives that are not part of accounting hedges.

The changes in the valuations that occur after the initial registration for reasons other than those mentioned in the previous paragraph, are treated as described below, based on the categories in which the financial assets are classified.

Financial assets held for trading at fair value through profit or loss, Financial assets not held for trading mandatorily valued at fair value through profit or loss and Financial assets designated as at fair value through profit or loss:

In “Financial assets held for trading at fair value through profit or loss” will record financial assets whose business model aims to generate profits through purchases and sales or to generate results in the short term.

The financial assets recorded under “Financial assets not held for trading mandatorily valued at fair value through profit or loss” are assigned to a business model whose objective is achieved by obtaining contractual cash flows and/or selling financial assets but where the cash flows contracts have not met the conditions of the SPPI test.

In “Financial assets designated as at fair value through profit or loss” financial assets will be classified only when such designation eliminates or significantly reduces the inconsistency in the valuation or in the recognition that would arise from valuing or recognizing the assets on a different basis.

The assets recorded in these items are valued after their acquisition at their fair value and changes in their value are recorded, at their net amount, under “Financial assets and liabilities held for trading”, “Financial assets and liabilities financial assets not held for trading mandatorily valued at fair value through profit or loss” and “Financial assets and liabilities designated as at fair value through profit or loss” of the Consolidated Income Statement. Variations originated from exchange differences are recorded under “Foreign currency changes, UF indexation and accounting hedge” in the Consolidated Income Statement.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

Financial assets at fair value through other comprehensive income:

−

Debt financial instruments:

The assets recorded in this item are valued at their fair value, interest income and UF indexation of these instruments, as well as exchange differences and impairment arising, are recorded in the Consolidated Statement of Income, while subsequent variations in their valuation are temporarily recorded (for its amount net of taxes) in “Changes in the fair value of financial assets at fair value through other comprehensive income” of the Consolidated Statements of Other Comprehensive Income.

The amounts recorded in “Changes in the fair value of financial assets at fair value through other comprehensive income” continue to form part of the Bank’s consolidated equity until the asset is derecognized in the consolidated balance. In the case of selling these assets, the result is recognized in “Financial result for derecognizing financial assets and liabilities at amortized cost and financial assets at fair value with changes in others comprehensive income” of the Consolidated Income Statement.

Net losses due to impairment of financial assets at fair value through other comprehensive income produced in the year are recorded in “Impairment due to credit risk of other financial assets at amortized cost and financial assets at fair value through other comprehensive income” of the Consolidated Income Statement.

−

Equity financial instruments:

At the time of initial recognition, the Bank may make the irrevocable decision to present subsequent changes in fair value in other comprehensive income. Subsequent variations in this valuation will be recognized in “Changes in the fair value of equity instruments designated as at fair value through other comprehensive income”. The dividends received from these investments are recorded in “Income from investments in companies” of the Consolidated Income Statement. These instruments are not subject to the impairment model of IFRS 9.

−

Financial assets at amortized cost:

The assets recorded in this item of the Consolidated Statement of Financial Position are valued after their acquisition at their “amortized cost”, in accordance with the “effective interest rate” method. They are subdivided according to the following:

Investment under resale agreements and securities loans (Note No. 13 (a)).

Debt financial instruments (Note No. 13 (b)).

Due from banks (Note No. 13 (c)).

Loans and accounts receivable from customers (Note No. 13 (d)).

Losses due to impairment of these assets generated in each year are recorded in “Provisions for credit risk and loans and accounts receivable from customers” and “Impairment due to credit risk of other financial assets at amortized cost and financial assets at fair value through other comprehensive income” of the Consolidated Income Statement.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Investment under resale agreements, obligations under repurchase agreements and securities loans:

Resale agreement operations are carried out as a form of investment. Under these agreements, financial instruments are purchased, which are included as assets in “Investment under resale agreements and securities loans”, which are valued according to the interest rate of the agreement through the amortized cost method. In accordance with current regulations, the Bank does not record as its own portfolio those papers purchased under resale agreements.

Repurchase agreement operations are also carried out as a form of financing, which are included as liabilities in “Obligations for repurchase agreements and securities loans”. In this regard, the investments that are sold subject to a repurchase obligation and that serve as collateral for the loan correspond to debt financial instruments. The obligation to repurchase the investment is classified in liabilities as “Obligations under repurchase agreements and securities loans” and is valued according to the interest rate of the agreement.

−

Debt financial instruments at amortized cost:

These instruments are recorded at their cost value plus accrued interest and UF indexation, less provision for impairment constituted when their recorded amount is greater than the estimated amount of recovery. Interest and UF indexation of debt financial instrument at amortized cost are included in “Interest income” and “UF indexation income”.

−

Loans and Advances to Banks:

This item shows the balances of operations with local and abroad banks, including the Central Bank of Chile and foreign Central Banks.

−

Loans and accounts receivable from customers:

Loans to customers include originated and purchased non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and which the Bank does not intend to sell immediately or in the short term.

(i)

Valuation method

They are initially measured at cost plus incremental transaction costs and income, and subsequently measured at amortized cost, using the effective interest rate method, less any impairment loss, except when the Bank defined some loans as hedged items, measured at fair value through profit or loss as described in letter (p) of this note.

(ii)

Lease contracts

These are included under the item “Loans to customers” correspond to periodic rent installments of contracts which meet the definition to be classified as financial leases and are presented at their nominal value net of unearned interest as of each year-end.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(iii)

Factoring transactions

They are valued for the amounts disbursed by the Bank in exchange for invoices or other commercial instruments representative of credit, with or without responsibility of the grantor, received in discount. Price differences between the amounts disbursed and the nominal value of the credits are recorded in the result as interest income, through the effective interest method, during the financing period. In those cases, where the transfer of these instruments it was made without responsibility of the grantor, it is the Bank who assumes the insolvency risks of those required to pay.

(f)

Credit risk allowance:

The Bank permanently evaluates the entire portfolio of loans and contingent loans, with the aim of establishing the necessary and sufficient provisions in a timely manner to cover the expected losses associated with the characteristics of the debtors and their credits, based on the payment and subsequent recovery.

Allowances are required to cover the risk of loan losses have been established in accordance with the instructions issued by the CMF. The loans are presented net of those allowances and, in the case of contingent loans are shown in liabilities under the item “Special provisions for credit risk”.

In accordance with what is stipulated by the CMF, models or methods are used based on an individual and group analysis of debtors, to establish allowance for loan losses. The Bank’s Board of Directors approves said models, as well as modifications to their design and application.

(i)

Allowance for individual evaluations:

An individual analysis of debtors is applied to companies that are of such significance with respect to size, complexity or level of exposure to the bank, that they must be analyzed in detail.

Likewise, the analysis of borrowers focuses on its credit quality related to the capacity and willingness to meet their credit obligations, through sufficient and reliable information, and should also be analyzed in terms of guarantees, terms, interest rates, currency and revaluation, etc.

For purposes of establish the allowances, the banks must assess the credit quality, then classify to one of three categories of loans portfolio: Normal, Substandard and Non-Complying Loans, it must classify the debtors and their operations related to loans and contingent loans in the categories that apply.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Normal Loans and Substandard Loans:

Normal loans: includes those debtors whose payment capacity allows them to meet their obligations and commitments, and according to the evaluation of their economic-financial situation no change in this condition are displayed. Loans classified in categories A1 through A6.

Substandard loans: includes all borrowers with insufficient payment capacity or significant deterioration of payment capacity that may be reasonably expected not to comply with all principal and interest payments obligations set forth in the credit agreement, showing a low flexibility to meet its financial obligations in the short term.

They are also part of the Substandard Portfolio those debtors who have shown arrears of more than 30 days guarantor. In no case may the guaranteed securities be discounted from in the recent past. The classifications assigned to this portfolio are categories B1 to B4 of the rating scale.

As a result of individual analysis of the debtors, the Bank must classify them in the following categories, assigning, subsequently, the percentage of probability of default and loss given default resulting in the following percentage of expected loss:

Type of portfolio	Category of the debtors	Probability of default (%) PD	Loss given default (%) LGD	Expected loss (%) EL
	A1	0.04	90.0	0.03600
	A2	0.10	82.5	0.08250
Normal Loans	A3	0.25	87.5	0.21875
	A4	2.00	87.5	1.75000
	A5	4.75	90.0	4.27500
	A6	10.00	90.0	9.00000
	B1	15.00	92.5	13.87500
Substandard Loans	B2	22.00	92.5	20.35000
	B3	33.00	97.5	32.17500
	B4	45.00	97.5	43.87500

Allowances for Normal and Substandard Loans:

To determine the amount of allowances to be constitute for normal and substandard portfolio, previously should be estimated the exposure to subject to the allowances, which will be applied to respective expected loss, which consist of probability of default (PD) and loss given default (LGD) established for the category in which the debtor and/or guarantor belong, as appropriate.

The exposure affects to allowances applicable to loans plus contingent loans minus the amounts to be recovered by way of the foreclosure of financial or real guarantees of the operations. Loans mean the book value of credit of the respective debtor, while for contingent loans, the value resulting from to apply the indicated in No. 3 of Chapter B-3 of the CNCB.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

In the case of real guarantees, the Bank must demonstrate that the value assigned to this deduction reasonably reflects the value that it would obtain in the sale of the assets or capital instruments. Also, in qualified cases, the direct debtor’s credit risk may be substituted for the credit quality of the guarantor. In no case may the guaranteed securities be discounted from the amount of the exposure, since this procedure is only applicable when it comes to financial or real guarantees.

For calculation purposes, the following must be considered:

Provision debtor = (ESA-GE) x (PDdebtor /100) x (LGDdebtor /100) + GE x (PDguarantor /100) x (LGDguarantor /100)

Where:

ESA

Exposure subject to allowances, (Loans + Contingent Loans) – Financial Guarantees or real

Guaranteed exposure

However, the Bank must maintain a minimum provision level of 0.50% over normal portfolio and contingent loans.

−

Non-complying Loans:

The non-complying portfolio includes the debtors and their credits for which their recovery is considered remote, as they show an impaired or no payment capacity. This category comprises all debtors who have stopped paying their creditors or with visible evidence that they will stop doing so, as well as those for which a forced restructuring of their debts is necessary, reducing the obligation or postponing the payment of the principal or interest and, in addition, any debtor that has 90 days overdue or more in the payment of interest or principal of any credit. This portfolio is composed of the debtors belonging to categories C1 to C6 of the rating scale and all credits, including 100% of the amount of contingent loans, held by those same debtors.

For purposes to establish the allowances on the non-complying loans, the Bank disposes the use of percentage of allowances to be applied on the amount of exposure, which corresponds to the amount of loans and contingent loans that maintain the same debtor. To apply that percentage, must be estimated an expected loss rate, less the amount of the exposure the recoveries by way of foreclosure of financial or real guarantees that to support the operation and, if there are available specific background, also must be deducting present value of recoveries obtainable exerting collection actions, net of expenses associated with them. This loss percentage must be categorized in one of the six levels defined by the range of expected actual losses by the Bank for all transactions of the same debtor.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

These categories, their range of loss as estimated by the Bank and the percentages of allowance that must be applied on the amount of exposures, are listed in the following table:

Type of portfolio	Scale of risk	Expected Loss Range	Allowance (%)
	C1	Up to 3%	2
	C2	More than 3% up to 20%	10
Non-complying loans	C3	More than 20% up to 30%	25
	C4	More than 30 % up to 50%	40
	C5	More than 50% up to 80%	65
	C6	More than 80%	90

For calculation purposes, the following must be considered:

	Expected Loss Rate	=	(E−R)/E
	Allowance	=	E × (AP/100)

Where:

Exposure Amount

Recoverable Amount

Allowance Percentage (according to the category in which the Expected Loss Rate should be assigned).

All credits of the debtor must be kept in the Default Portfolio until there is a normalization of their ability or payment behavior, without prejudice to punishment of each particular credit that meets the condition indicated in Title II of Chapter B-2 of the Compendium of Accounting Standards for Banks. To remove a debtor from the Default Portfolio, once the circumstances that lead to classification in this portfolio according to these regulations have been overcome, at least the following copulative conditions must be met:

No obligation of the debtor with the bank with more than 30 calendar days overdue.

No new refinances granted to pay its obligations.

At least one of the payments includes amortization of capital.

If the debtor has a credit with partial payment periods less than six months, has already made two payments.

If the debtor must pay monthly fees for one or more credits, has paid four consecutive dues.

The debtor does not have direct debts unpaid in the CMF recast information, except in the case of insignificant amounts.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(ii)

Allowances for group evaluations

Group evaluations are relevant for residential mortgage and consumer loan exposures, in addition to commercial exposures related to student loans and exposures with debtors that simultaneously meet the following conditions:

The Bank has an aggregate exposure to the same counterparty of less than 20,000 UF. The aggregate exposure should require gross provisions or other mitigations. In addition, for its computation, mortgage loans must be excluded. In the case of off-balance sheet items, the gross amount is calculated by applying the credit conversion factors, defined in chapter B-3 of the CNCB. To determine the aggregate exposure, the bank must consider the definition of corporate group established in Title II of Chapter 12-16 of the Actualized Standards Compilation.

Banks must carry out a complete and permanent monitoring of all operations with entities belonging to business groups. Considering the costs that may result the conformation of groups for all debtors, the bank must at least keep control and form groups, if applicable, for all debtors who maintain a current exposure greater than a minimum amount established by the banking institution which may not be greater than 1% of its effective equity at the time the definition of the group portfolio is made.

Each aggregate exposure to the same counterparty does not exceed 0.2% of the total commercial group portfolio. To avoid circular computation, the criterion will be checked only once.

For the remaining commercial credit exposures, the individual analysis model of the debtors must be applied.

The determination of the type of analysis (group or individual) must be carried out at the global consolidated level, once a year, or after significant adjustments in the Bank’s portfolio, such as mergers, acquisitions, purchases or significant portfolio sales.

To determine the allowances, the group evaluations require the formation of groups of loans with similar characteristics in terms of type of debtors and conditions agreed, to establish technically based estimates by prudential criteria and following both the payment behavior of the group that concerned as recoveries of defaulted loans and consequently provide the necessary provisions to cover the risk of the portfolio.

To determine its provisions, the Bank segments its debtors into homogeneous groups, according described above, associating to each group a determined probability of default and a percentage of recovery based in a historic analysis. The amount of provisions to register it will be obtained multiplied the total loans of respective group by the percentages of estimated default and of loss given the default, the estimated losses must be related to the type of portfolio and the term of the operations.

The Bank discriminates between provisions on the normal portfolio and on the portfolio in default, and those that protect the risks of contingent credits associated with those portfolios.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Standard method of provisions for group portfolio

The standard methodologies presented below establish the variables and parameters that determine the provision factor for each type of portfolio that the CMF has defined as representative, according to the common characteristics shared by the operations that comprise them.

(a)

Residential mortgage portfolio

The provision factor applicable, represented by expected loss over the mortgage loans, it will depend to the past due of each credit and the relation, at the end of month, between outstanding capital and the value of the mortgage guarantees (CMG), according the following table:

Provision factor applicable according to delinquency and CMG
		Days of default at the end of the month
CMG section	Concept	0	1-29	30-59	60-89	Non-Complying Portfolio
CMG ≤ 40%	PD (%)	1.0916	21.3407	46.0536	75.1614	100.0000
	LGD (%)	0.0225	0.0441	0.0482	0.0482	0.0537
	EAD (%)	0.0002	0.0094	0.0222	0.0362	0.0537
40% < CMG≤ 80%	PD (%)	1.9158	27.4332	52.0824	78.9511	100.0000
	LGD (%)	2.1955	2.8233	2.9192	2.9192	3.0413
	EAD (%)	0.0421	0.7745	1.5204	2.3047	3.0413
80% < CMG≤ 90%	PD (%)	2.5150	27.9300	52.5800	79.6952	100.0000
	LGD (%)	21.5527	21.6600	21.9200	22.1331	22.2310
	EAD (%)	0.5421	6.0496	11.5255	17.6390	22.2310
CMG > 90%	PD (%)	2.7400	28.4300	53.0800	80.3677	100.0000
	LGD (%)	27.2000	29.0300	29.5900	30.1558	30.2436
	EAD (%)	0.7453	8.2532	15.7064	24.2355	30.2436

Where:

Probability of default

LGD

Loss given default

EAD

Exposure at default

CMG

Outstanding loan capital /Mortgage Guarantee value

(b)

Commercial portfolio

To determine these allowances, the Bank considers the standard methods presented below, as applicable to commercial leasing operations or other types of commercial loans. Then, the applicable provision factor will be assigned considering the parameters defined for each method.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

●

Commercial Leasing Operations

The provision factor applies to the current value of commercial leasing operations (including the purchase option) and will depends on the default of each operation, the type of leased asset and the relationship between the current value of each operation and the leased asset value (PVB) at each month-end, as indicated in the following tables:

Probability of default (PD) applicable according to default and type of asset (%)
	Type of asset
Days of default of the operation at the month-end	Real estate	Non-real estate
0	0.79	1.61
1-29	7.94	12.02
30-59	28.76	40.88
60-89	58.76	69.38
Portfolio in default	100.00	100.00

Loss given the default (LGD) applicable according to PVB section and type of asset (%)
PVB = Current value of the operation / Value of the leased asset
PVB section	Real estate	Non-real estate
PVB ≤ 40%	0.05	18.20
40% < PVB ≤ 50%	0.05	57.00
50% < PVB ≤ 80%	5.10	68.40
80% < PVB ≤ 90%	23.20	75.10
PVB > 90%	36.20	78.90

The determination of the PVB relationship is made considering the appraisal value expressed in UF for real estate and in Chilean pesos for non-real estate, recorded at the time of the respective loan granting, taking into account possible situations that may be causing temporary increases in the assets prices at that time.

●

Generic commercial loans and factoring

For the factoring operations and other commercial loans, other than those indicated above, the provision factor, applicable to the amount of the placement and the exposure of the contingent loan risk, will depends on the default of each operation and the relationship that exists at the end of each month, between the obligations that the debtor has with the bank and the value of the collateral that protect them (PTVG), as indicated in the following tables:

Probability of default (PD) applicable according to default and PTVG section (%)
	With collateral
Days of default at the month-end	PTVG≤100%	PTVG>100%	Without collateral
0	1.86	2.68	4.91
1-29	11.60	13.45	22.93
30-59	25.33	26.92	45.30
60-89	41.31	41.31	61.63
Portfolio in default	100.00	100.00	100.00

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

Loss given the default (LGD) applicable according to PTVG section (%)
Collateral (with / without)	PTVG section	Generic commercial operations or factoring without the responsibility of the transferor	Factoring with the responsibility of the transferor
With collateral	PTVG ≤ 60%	5.00	3.20
	60% < PTVG≤ 75%	20.30	12.80
	75% < PTVG ≤ 90%	32.20	20.30
	90% < PTVG	43.00	27.10
Without collateral		56.90	35.90

The collaterals used for the purposes of calculating the PTVG relationship of this method may be specific or general, including those that are simultaneously specific and general. Collateral can only be considered if, according to the respective coverage clauses, it was constituted in the first degree of preference in favor of the Bank and only guarantees the debtor’s credits with respect to which it is imputed (not shared with other debtors).

The invoices assigned in the factoring operations will not be considered for purposes of calculating the PTVG. The excess of collateral associated with mortgage loans referred to in numeral 3.1.1 Residential mortgage portfolio in Chapter B-1 of CNCB may be considered, computed as the difference between 80% of the property commercial value, according to with the conditions set out in that framework, and the mortgage loan that guarantees.

For the calculation of the PTVG ratio, the following considerations must be taken into account:

Transactions with specific collaterals: when the debtor granted specific collateral for generic commercial loans and factoring, the PTVG ratio is calculated independently for each covered transaction, such as the division between the amount of the loans and the contingent loans exposure and the collateral’s value of the covered product.

ii.

Transactions with general collaterals: when the debtor granted general or general and specific collaterals, the Bank calculates the respective PTVG, jointly for all generic commercial loans and factoring and not contemplated in the preceding paragraph i), as the quotient between the sum of the amounts of the loans and exposures of contingent loans and the general, or general and specific collateral that, according to the scope of the remaining coverage clauses, safeguard the loans considered in the numerator aforementioned coverage ratio.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

The amounts of the guarantees used in the PTVG ratio of numerals i) and ii), different from those associated with excess guarantees from mortgage loans to which the residential mortgage portfolio refers, must be determined according to:

The last valuation of the collateral, be it appraisal or fair value, according to the type of real guarantee in question. For the determination of fair value, the criteria indicated in Chapter 7-12 (Fair Value of Financial Instruments) of the RAN should be considered.

Possible situations that could be causing temporary increases in the values of the collaterals.

Limitations on the amount of coverage established in their respective clauses.

(c)

Consumer Portfolio

The allowance factor, represented by the expected loss (EL), corresponds to the probability of default (PD) together with the loss given the default occurred (LGD). This factor is applied uniformly to all contingent consumer loans and consumer credits held by the debtor with the bank and its subsidiaries established in Chile, including consumer leasing transactions. In the case of contingent transactions, the exposure measure is calculated according to the provisions established in Chapter B-3 of the CNC will be considered.

To define the value of the PD, the following factors are calculated for each debtor:

●

Bank default rate: This corresponds to the maximum default rate (in days) for the consumer portfolio, including consumer leasing transactions, that the debtor has with the bank at the end of the month for which provisions are being determined. For clients with more than one transaction, the maximum value obtained from all of them is used. This variable is measured by considering all entities that comprise the institution’s overall consolidated level.

●

30 days in default in the financial system: This variable applies to whether the debtor has at least one direct debt in default for 30 days or more in any of the three months prior to the date on which the provisions are calculated. This variable is calculated based on the debtor’s defaults with all credit providers for which information is available. This variable includes the list of debtors reported by the CMF, as well as the bank itself at a global consolidated level, and the various financial products. It excludes only loans subject to a communication ban under Law No. 19,628 on the Protection of Privacy.

●

Having a mortgage Loan: This variable determines whether the borrower has a current mortgage loan in the financial system. In this case, the bank uses the most recent information available at the date the provisions are being calculated, considering the list of borrowers reported by the CMF, in addition to the bank’s own consolidated data.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

The table of factors considered to define the PD is as follows:

	With a mortgage loan for housing in the system		No mortgage loan for housing in the system
Maximum default level in the month and bank (range in days that includes extremes	No default greater than 30 days in the system	With a default greater than 30 days in the system	No default greater than 30 days in the system	With a default greater than 30 days in the system
0 and 7	3.3%	14.6%	6.6%	19.8%
8 and 30	20.4%	41.6%	30.6%	48.5%
31 and 60	50.2%	63.0%	65.1%	66.3%
61 and 89	62.6%	81.7%	72.3%	86.9%

In the event that the debtor is in default, the assigned LGD will be 100%.

To determine the value of the LGD, it is determined whether or not the debtor has a mortgage loan for the home in the system as defined for the value of the PD, and the type of loan involved

The LGD to be used is defined according to the following table:

	Automotive leasing and credit operations			Credits in installments			Credit cards and lines, and other consumer products
With a mortgage loan for housing in the system		33,2	%		47,7	%		49,5	%
No mortgage loan for housing in the system		33,2	%		56,6	%		60,3	%

The allocation of the LGD value is carried out according to the following guidelines:

●

“Automotive leasing and credit operations” will be considered those loans where the transaction is intended to finance the acquisition of private vehicles, which remain as collateral (pledge) in favor of the institution. Consumer financial leasing operations are also considered in this category.

●

“Installment Credits” will correspond to those registered in the item Consumer Credits in Installments of Chapter C-3 of the CNC, to the extent that these have been granted upon signing of a promissory note that clearly establishes the amount of capital, term, rate and number of installments, without a predefined use of the funds (free disposal) and does not correspond to the previous category.

●

If a loan does not fall under either of the two previous definitions, but is classified as consumer loans, the LGD value assigned to the “Credit cards and lines, and other consumer loans” category must be applied.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Portfolio in default.

Includes all placements and 100% of the amount of the contingent loans, of the debtors that the closing of a month presents a delay equal to or greater than 90 days in the payment of the interest of the capital of any credit. It will also include debtors who are granted a credit to leave an operation that has more than 60 days of delay in their payment, as well as those debtors who were subject to forced restructuring or partial forgiveness of a debt.

They may exclude from the portfolio in default: a) mortgage loans for housing, which delinquent less than 90 days, unless the debtor has another loan of the same type with greater delinquency; and, b) credits for financing higher studies of Law No. 20,027, which do not yet present the non-compliance conditions indicated in Circular No. 3,454 of December 10, 2008.

All credits of the debtor must be kept in the Default Portfolio until there is a normalization of their ability or payment behavior, without prejudice to punishment of each particular credit that meets the condition indicated in Title II of Chapter B-2 of the CNCB. To remove a debtor from the Default Portfolio, once the circumstances that lead to classification in this portfolio according to the present rules have been overcome, at least the following copulative conditions must be met:

No obligation of the debtor with the bank with more than 30 calendar days overdue.

No new refinances granted to pay its obligations.

At least one of the payments includes amortization of capital.

If the debtor has a credit with partial payment periods less than six months, has already made two payments.

If the debtor must pay monthly fees for one or more credits, has paid four consecutive dues.

The debtor does not appear with unpaid debts direct according to the information recast by CMF, except for insignificant amounts.

(iii)

Provisions related to financing with FOGAPE COVID-19 guarantee.

On July 17, 2020, the CMF requested to determine specific provisions of the credits guaranteed by the FOGAPE COVID-19 guarantee, for which the expected losses were determined estimating the risk of each operation, without considering the substitution of credit quality of the guarantee, according to the corresponding individual or group analysis method, in accordance with the provisions of Chapter B-1 of the CNCB. This procedure must be carried out in an aggregate manner, grouping all those operations to which the same deductible percentage is applicable.

The deductible is applied by the Fund Administrator, which must be borne by each financial institution and does not depend on each particular operation, but is determined based on the total of the balances guaranteed by the Fund, for each group of companies that have the same coverage, according to their net sales size.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(iv)

Provisions related to financing with FOGAPE Reactivation guarantee.

To determine the provisions of the amounts guaranteed by the FOGAPE Reactivation, the Bank considers the substitution of the credit quality of the debtors for that of the FOGAPE, for all the types of financing indicated, up to the amount covered by the aforementioned guarantee. Naturally, the option to consider the risk attributable to FOGAPE may be made while said guarantee remains in force, without considering the capitalized interest, in accordance with the provisions of article 17 of the Fund Regulations.

Likewise, for the computation of the provisions of the amount not covered by the guarantee, corresponding to the debtors, the treatment must be differentiated according to the level of default of the refinanced credit and the grace period, which must consider the cumulative consecutive months grace period between the refinanced loan and other prior measures.

For this purpose, the following situations should be considered:

●

Refinancing with less than 60 days past due and less than 180 days of grace.

When the Bank grants the refinancing and is the current creditor, depending on the methodology used in accounting for provisions (standard or internal method) for the group portfolio, the computation of default and the expected loss parameters remain constant at the time to carry out the refinancing, as long as no payment is due.

In the case of debtors evaluated on an individual basis, their risk category is maintained at the time of rescheduling, which does not prevent them from being reclassified to the category that corresponds to them, in the event of a worsening of their payment capacity.

●

Refinancing with past due between 60 and 89 days or grace periods greater than 180 days and less than 360 days.

The provisions established in the previous point apply, and at least one of the following conditions must also be met:

In its credit granting policies, the Bank considers at least the following aspects:

A robust procedure for the categorization of viable debtors, which considers at least the sector and its solvency and liquidity situation.

Efficient mechanisms for monitoring the debtor’s situation, with formally defined internal governance.

ii.

Interest is charged in the months of grace, in accordance with the guidelines established in article 15 letter a) of the Regulation, or there is a demand for payment in another credit with the bank. In the latter case, if noncompliance is observed, the carry forward rules contained in numerals 2.2 and 3.2 of Chapter B-1 of the CNCB must be considered, depending on whether it is a credit subject to individual or group evaluation, respectively.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

●

Refinancing with grace periods greater than 360 days.

The Bank must apply the provisions established in Chapter B-1 of the CNCB, considering the operation as a forced renegotiation and, therefore, apply the provisions that correspond to the portfolio in default.

(v)

Impairment of loans.

The impaired loans include the following assets, according to Chapter B-1 of the CNCB of the CMF:

In case of debtors subject to individual assessment, includes credits from “Non-complying loans” those classified in categories B3 and B4 of “Substandard loans”.

Debtors subject to assessment group evaluation, the impaired portfolio includes all credits of the “Non-complying loans”.

(vi)

Charge-offs.

As a general rule, the charge-offs are produced when the contractual rights on cash flows end. In case of loans, even if the above does not happen, it will proceed to charge-offs the respective asset balances.

The charge-off refers to derecognition of the assets in the Consolidated Statement of Financial Position, related to the respective transaction and, therefore, the part that could not be past-due if a loan is payable in installments, or a lease.

−

Charge-offs of loans to customers

The charge-off must be to make using credit risk provisions constituted, whatever the cause for which the charge-off was produced.

Write-offs for loans to customers and accounts receivable, other than from leasing operations, should be made in the following circumstances, whichever occurs first:

The Bank, based on all available information, concludes that will not obtain any cash flow of the credit recorded as an asset.

When the debt without executive title expires 90 days after it was recorded in asset.

At the expiration of the statute of limitations for actions to demand payment through an executive trial, or at the time of rejection or abandonment of the execution of the judgment by final court resolution.

When past-due term of a transaction reaches the charge-off term disposed below:

Type of Loan		Term
Consumer loans - secured and unsecured		6 months
Other transactions - unsecured		24 months
Commercial loans - secured		36 months
Residential mortgage loans		48 months

The term represents the time elapsed since the date on which payment of all or part of the obligation in default became due.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

−

Charge-offs of lease operations

These assets must be charge-offs against the following circumstances, whichever occurs first:

The Bank concludes that there is no possibility of the rent recoveries and the value of the property cannot be considered for purposes of recovery of the contract, either because the lessee has not the asset, for the property’s conditions, for expenses that involve its recovery, transfer and maintenance, due to technological obsolescence or absence of a history of your location and current situation.

When it complies the prescription term of actions to demand the payment through executory or upon rejection or abandonment of executory by court.

When a contract has been in default reach the period of time indicated below:

Type of Loan		Term
Consumer leases		6 months
Other non-real estate lease transactions		12 months
Real estate leases (commercial or residential)		36 months

The term represents the time elapsed since the date on which payment of all or part of the obligation in default became due.

(vii)

Written-off loans recoveries

Cash recoveries on charge-off loans including loans that were reacquired are recorded directly in income in the Consolidated Statement of Income, as a reduction of the “Recoveries of written-off loans” item.

In the event of recoveries of assets, the income will be recognized in the results for the amount by which they are incorporated into the asset. The same criterion will be followed if the leased assets were recovered after the charge-off for a leasing operation, when such assets are incorporated into the asset.

Any renegotiation of a credit already written off does not give rise to income, as long as the operation remains to have an impaired quality; the actual payments received must be treated as recoveries of credits written off, as indicated above.

Therefore, renegotiated credit can be recorded as an asset only if it has not deteriorated quality; also recognizing revenue from activation must be recorded like recovery of loans.

The same criteria should apply in the case that was give credit to pay a charge-off loan.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(g)

Impairment due to credit risk of Financial assets at amortized cost and Financial assets at fair value through other comprehensive income (FVOCI):

In accordance with the established in Chapter A-2 of the CNCB of the CMF, the impairment model of IFRS 9 will not be applied to loans in the category “Financial assets at amortized cost” (“Due from banks” and “Loans and accounts receivable from customers”), nor on “Contingent loans”, since the criteria for these instruments are defined in Chapters B-1 to B-3 of the CNCB.

For the rest of the financial assets measured at Amortized Cost or FVOCI, the model on which impairment losses must be calculated corresponds to one of Expected Credit Loss (ECL) as established in IFRS 9.

Debt financial instruments whose subsequent valuation is at amortized cost or at FVOCI will be subject to impairment due to credit risk. On the contrary, those instruments at fair value through profit or loss do not require this measurement.

The measurement of impairment is carried out in accordance with a general impairment model that is based on the existence of 3 possible phases of the financial asset, the existence or not of a significant increase in credit risk and the condition of impairment. The 3 phases determine the amount of impairment that will be recognized as an expected credit loss, as well as the interest income that will be recorded at each reporting date. Each phase is listed below:

Phase 1: Incorporates financial assets whose credit risk has not increased significantly since initial recognition. Expected credit losses are recognized to 12-month. Interest is recognized based on the gross amount on the balance sheet.

Phase 2: Incorporates financial assets whose credit risk has increased significantly since initial recognition. Expected credit losses are recognized throughout the life of the financial asset. Interest is recognized based on the gross amount on the balance sheet.

Phase 3: Incorporates impaired financial assets. Expected credit losses are recognized throughout the life of the financial asset. Interest is recognized based on the net amount (gross amount on the balance sheet less allowance for credit risk).

−

Impairment of debt financial instruments measured at fair value through other comprehensive income.

The Bank applies the value impairment requirements for the recognition and measurement of a value correction for losses to financial assets that are measured at fair value through other comprehensive income in accordance with IFRS 9. This value adjustment for losses is recognized in Other Comprehensive Income (OCI) and does not reduce the carrying amount of the financial asset in the Consolidated Statement of Financial Position. The accumulated loss recognized in OCI is recycled in results when derecognizing the financial assets.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(h)

Financial liabilities:

Classification of financial liabilities:

Financial liabilities are classified in the following categories:

Financial liabilities at amortized cost.

Financial liabilities held for trading at fair value through profit or loss: Financial instruments are recorded in this item when the Bank’s objective is to generate profits through purchases and sales with these instruments. This item includes financial derivative trading contracts that are liabilities, which will be measured subsequently at fair value.

Financial liabilities designated as at fair value through profit or loss: The Bank has the option to irrevocably designate, at the time of initial recognition, a financial liability as measured at fair value through profit or loss if the application of this criterion eliminates or significantly reduces inconsistencies in the measurement or recognition, or if it is a group of financial liabilities, or a group of financial assets and liabilities, that is managed, and its performance evaluated, based on fair value in line with a risk management or investment strategy.

Valuation of financial liabilities:

Initial valuation:

They are initially recorded at fair value, less transaction costs that are directly attributable to the issuance of the instruments. Variations in the value of financial liabilities due to the accrual of interest, UF indexation and similar concepts are recorded under the headings “Interest expenses” and “UF indexation expenses” of the Consolidated Income Statement for the period in which the accrual occurred (see Note No. 30 and No. 31).

Subsequent valuation:

The changes in the valuations that will occur after the initial registration due to reasons other than those mentioned in the previous paragraph, are treated as described below, based on the categories in which the financial liabilities are classified.

Financial liabilities at amortized cost:

The liabilities recorded in this item are valued after their acquisition at their amortized cost, which is determined in accordance with the effective interest rate method (EIR).

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(i)

Derecognition of financial assets and liabilities:

The Bank and its subsidiaries derecognize a financial asset from its Statement of Financial Position, when the contractual rights to the cash flows of the financial asset have expired or when the contractual rights to receive the cash flows of the financial asset are transferred during a transaction in which all ownership risks and rewards of the financial asset are transferred. Any portion of transferred financial assets that is created or retained by the Bank is recognized as a separate asset or liability.

When the Bank transfers a financial asset, it assesses to what extent it has retained the risks and rewards of ownership. In this case:

−

If substantially all risks and rewards of ownership of the financial asset have been transferred, it is derecognized, and any rights or obligations created or retained upon transfer are recognized separately as assets or liabilities.

−

If substantially all risks and rewards of ownership of the financial asset have been retained, the Bank continues to recognize it.

−

If substantially all risks and rewards of ownership of the financial asset are neither transferred nor retained, the Bank will determine if it has retained control of the financial asset. In this case:

If the Bank has not retained control, the financial asset will be derecognized, and any rights or obligations created or retained upon transfer will be recognized separately as assets or liabilities.

If the Bank has retained control, it will continue to recognize the financial asset in the Consolidated Financial Statement by an amount equal to its exposure to changes in value that can experience and recognize a financial liability associated to the transferred financial asset.

The Bank derecognizes a financial liability (or a portion thereof) from its Consolidated Statement of Financial Position if, and only if, it has extinguished or, in other words, when the obligation specified in the corresponding contract has been paid or settled or has expired.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(j)

Compensation of financial assets and liabilities:

Financial assets and liabilities are subject to compensation, so that their net amount is presented in the Consolidated Statement of Financial Position, when and only when the Bank has the right, legally enforceable, to offset the recognized amounts and intends to settle the net amount, or to realize the asset and settle the liability simultaneously.

Income and expenses are presented net only when permitted by accounting standards, or in the case of gains and losses arising from a group of similar transactions such as the Bank’s trading and foreign exchange activity.

(k)

Functional currency:

The items included in the Interim Consolidated Financial Statements of Banco de Chile and its subsidiaries are valued using the currency of the primary economic environment in which it operates (functional currency). The functional and presentation currency of the Interim Consolidated Financial Statements of Banco de Chile is the Chilean peso, which is the currency of the primary economic environment in which the Bank operates, and also obeys the currency that influences the cost and income structure.

(l)

Transactions in foreign currency:

Transactions in currencies other than the functional currency are considered to be in foreign currency and are initially recorded at the exchange rate of the functional currency on the transaction date. Monetary assets and liabilities denominated in foreign currencies are converted using the exchange rate of the functional currency as of the date of the Consolidated Statement of Financial Position. All differences are recorded as a debit or credit to income.

As of March 31, 2025 and 2024, the Bank and its subsidiaries applied the exchange rate of accounting representation according to the standards issued by the CMF, for which the assets in dollars are shown at their equivalent value in Chilean pesos calculated using the following market exchange rate Ch$955.04 per US$1 (Ch$982.21 per US$1 as of March 31, 2024).

As of March 31, 2025, the amount of Ch$17,483 million corresponding to a net financial profit from exchange, indexation and accounting hedging of foreign currency (net gain of Ch$106,447 million as of March 31, 2024) shown in the Consolidated Statements of Income, includes the result from exchange operations, indexation and accounting hedges of foreign currency, including the conversion of assets and liabilities in foreign currency or indexed to the exchange rate.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(m)

Operating Segments:

The Bank discloses information by segment in accordance with IFRS 8 (Note No. 6). The Bank’s operating segments are determined based on its different business units, considering the following:

That it conducts business activities from which income is obtained and expenses are incurred (including income and expenses relating to transactions with other components of the same entity).

That its operating results are reviewed regularly by the entity’s highest decision-making authority for operating decisions, to decide about resource allocation for the segment and evaluate its performance; and

For which separate financial information available.

(n)

Statement of cash flows:

The Consolidated Statement of Cash Flows shows the changes in cash and cash equivalents derived from operating activities, investment and financing activities during the year. The indirect method has been used in the preparation of this statement of cash flows.

For the preparation of Consolidated Financial Statements of Cash Flow, it is considered the following concepts:

Cash and cash equivalents: corresponds to the item “Cash and deposits in banks”, plus (minus) the net balance corresponding to operations with liquidation in progress that are shown in the Consolidated Statement of Financial Position, plus other cash equivalents such as investments in short-term debt financial instruments that meet the criteria to be considered “cash equivalents”, for which they must have an original maturity of 90 days or less from the date of acquisition, be highly liquid, easily convertible into amounts known amounts of cash as of the date of the initial investment, and that the financial instruments are exposed to an insignificant risk of changes in value.

Operating activities: corresponds to normal activities of the Bank, as well as other activities that cannot classify like investing or financing activities.

Investing activities: correspond to the acquisition, sale or disposition other forms, of long-term assets and other investments not included in cash and cash equivalents.

Financing activities: corresponds to the activities that produce changes in the amount and composition of the equity and the liabilities that are not included in the operating or investing activities.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(o)

Financial derivative contracts:

A “Financial Derivative” is a financial instrument whose value changes in response to changes in an observable market variable (such as an interest rate, exchange rate, the price of a financial instrument or a market index, including credit ratings), whose initial investment is very small in relation to other financial instruments with a similar response to changes in market conditions and which is generally settled at a future date.

The Bank maintains contracts of Derivative financial instruments, for cover the exposition of risk of foreign currency and interest rate. These contracts are recorded in the Consolidated Statement of Financial Position at their cost (included transactions costs) and subsequently measured at fair value. Derivative instruments are reported as an asset when their fair value is positive and as a liability when negative under the item “Derivative Instruments”.

Changes in fair value of derivative contracts held for trading purpose are included under “Financial Assets and Liabilities held for Trading”, on the Consolidated Statement of Income.

Additionally, the Bank includes in the valuation of the derivatives “Counterparty Credit Risk Adjustments, including: “CVA” or Credit Valuation Adjustment to reflect the counterparty credit risk in determining the fair value, as well as the “DVA” o Debit Valuation Adjustment to reflect the Bank’s own credit risk. Likewise, the Bank incorporates “Financing Adjustment”, also called “FVA” or Funding Valuation Adjustment, which captures the expected cost (or benefit) of financing (reinvesting) the cash flows of the derivative, with respect to a reference discount rate, when there are no collaterals (or they are imperfect).

Certain embedded derivatives in other financial instruments are treated as separate derivatives when their risk and characteristics are not closely related to those of the main contract and if the contract in its entirety is not recorded at its fair value with its unrealized gains and losses included in income.

(p)

Financial derivative contracts for accounting hedges:

The Bank has chosen to continue applying the hedge accounting requirements of IAS 39 when adopting IFRS 9.

At the moment of subscription of a derivative contract must be designated by the Bank as a derivative instrument for trading or hedging purposes.

If a derivative instrument is classified as a hedging instrument, it can be:

A hedge of the fair value of existing assets or liabilities or firm commitments, or;

A hedge of cash flows related to existing assets or liabilities or forecasted transactions.

A hedge relationship for accounting hedges purposes must comply with all of the following conditions:

at its inception, the hedge relationship has been formally documented;

it is expected that the hedge will be highly effective;

the effectiveness of the hedge can be measured in a reasonable manner; and

the hedge is highly effective with respect to the hedged risk on an ongoing basis and throughout the entire hedge relationship.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

The Bank presents and measures individual hedges (where there is a specific identification of hedged item and hedged instruments) by classification, according to the following criteria:

Fair value hedges: Changes in the fair value of a derivative hedging instrument, designated as a fair value hedge, are recognized in income under the lines “Net interest income” and “Net indexation income” and/or “Foreign currency changes, UF indexation and accounting hedge”, depending on the type of risk covered. The hedged item is also presented at fair value in relation to the risk being hedged; gains or losses attributable to the hedged risk are recognized in income under the lines “Net interest income” and “Net income from UF indexation” and adjust the book value of the item subject to the hedge.

Cash flow hedge: Changes in the fair value of financial instruments derivative designated like “cash flow hedge” are recognized in “Cash flow accounting hedge” included in the Consolidated Other Comprehensive Income, to the extent that hedge is effective and hedge is reclassified to income in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, when hedged item affects the income of the Bank produced for the “interest rate risk” or “foreign exchange risk”, respectively. If the hedge is not effective, the changes in the fair value are recognized directly in the results of the year under the caption “Other financial result”.

If the hedged instruments do not comply with criteria of cash flow accounting hedges, it expires or is sold, it suspends or executed, this hedge must be discontinued prospectively. Accumulated gains or losses recognized previously in the equity are maintained there until projected transactions occur, in that moment will be registered in Consolidated Statement of Income (in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, depend of the hedge), lesser than it foresees that the transaction will not execute, in this case it will be registered immediately in Consolidated Statement of Income (in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, depending on the hedge).

(q)

Intangible Assets:

Intangible assets (Note No. 15) are initially recognized at their acquisition cost, and are subsequently measured at their cost less any accumulated amortization or less any accumulated impairment losses.

Software or computer programs purchased by the Bank and its subsidiaries are accounted for at cost less accumulated amortization and impairment losses.

The subsequent expense in software assets is capitalized only when it increases the future economic benefit for the specific asset. All other expenses are recorded as an expense as incurred.

Amortization is recorded in income using the straight-line amortization method based on the estimated useful life of the software, from the date on which it is available for use. The estimated useful life of software is a maximum of 6 years.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(r)

Property and equipment:

Property and equipment (Note No. 16) includes the amount of land, real estate, furniture, computer equipment and other installations owned by the consolidated entities and which are for own use. These assets are stated at historical cost less depreciation and accumulated impairment. This cost includes expenses that have been directly attributed to the asset’s acquisition.

Depreciation is recognized in the Consolidated Statements of Income on a straight-line basis over the estimated useful lives of each part of an item of property and equipment.

The estimated average useful lives for the periods 2025 and 2024 are as follows:

- Buildings	50 years
- Installations	10 years
- Equipment	5 years
- Supplies and accessories	5 years

Maintenance expenses related to those assets held for own uses are recorded as expenses in the year in which they are incurred.

(s)

Deferred taxes and income taxes:

The income tax provision of the Bank and its subsidiaries has been determined in conformity with current legal regulations.

The Bank and its subsidiaries recognize, when appropriate, deferred tax assets and liabilities for future estimates of tax effects attributable to temporary differences between the book and tax values of assets and liabilities. Deferred tax assets and liabilities are measured based on the tax rate expected to be applied, in accordance with current tax law, in the year that deferred tax assets are realized or liabilities are settled. The effects of future changes in tax legislation or tax rates are recognized in deferred taxes starting on the date of publication of the law approving such changes (Note No. 18).

Deferred tax assets are recognized only when it is likely that future tax profits will be sufficient to recover deductions for temporary differences. According to instructions from the CMF, deferred taxes are presented in the Consolidated Statement of Financial Position according with IAS 12 “Income Tax”.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(t)

Provisions, contingent assets and liabilities:

Provisions are liabilities involving uncertainty about their amount or maturity. They are recorded in the Consolidated Statement of Financial Position when the following requirements are jointly met:

a present obligation has arisen from a past event;

as of the date of the Financial Statements it is probable that the Bank or its subsidiaries have to disburse resources to settle the obligation; and

the amount of these resources can be reliably measured.

A contingent asset or liability is any right or obligation arising from past events whose existence will be confirmed by one or more uncertain future events which are not within the control of the Bank.

Contingent credits are understood as operations or commitments in which the Bank assumes a credit risk by committing itself to third parties, in the event of a future event, to make a payment or disbursement that must be recovered from its clients.

The following are classified as contingent credits in off-balance sheet information:

Undrawn credit lines: Considers the unused amounts of lines of credit that allow customers to make use of credit without prior decisions by the bank.

Undrawn credit lines with immediate termination: Considers those undrawn credit lines, defined in the previous numeral, that the bank can unconditionally cancel at any time and without prior notice, or for which its automatic cancellation is contemplated in case of deterioration of the debtor’s solvency, as permitted by the current legal framework and the contractual conditions established between the parties.

Contingent credits linked to the CAE: Correspond to credit commitments granted in accordance with Law No. 20,027 (“CAE”).

Letters of credit for goods circulation operations: Considers the commitments that arise, both to the issuing bank and to the confirming bank, from self-settled commercial letters of credit with a maturity period of less than 1 year, arising from merchandise circulation operations (for example, confirmed foreign or documentary letters of credit). Includes documentary letters of credit issued by the Bank, which have not yet been negotiated.

Debt purchase commitments in local currency abroad: Note issuance facility (NIF) and revolving underwriting facility (RUF) are considered.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

Transactions related to contingent events: Guarantee bonds with promissory notes referred to in Chapter 8-11 of the Actualized Standards Compilation are considered.

Warranty by endorsement and sureties: Includes warranty by endorsement, sureties and standby letters of credit referred to in Chapter 8-10 of the Actualized Standards Compilation. In addition, it includes the payment guarantees of buyers in factoring operations, as indicated in Chapter 8-38 of that Compilation.

Other credit commitments: It includes the unplaced amounts of committed loans that are to be disbursed on an agreed future date or triggered by events contractually defined with the client, as is the case with irrevocable credit lines tied to the progress of projects (for provisions purposes, both the gross exposure referred to in No. 3 and future increases in the amount of guarantees associated with committed disbursements must be considered).

Exposure to credit risk on contingent loans:

To calculate provisions for contingent credits, the amount of exposure to be considered will be equivalent to the percentage of the amounts of the contingent credits indicated below:

Type of contingent credit	Credit Conversion Factor
Undrawn credit lines with immediate termination		10	%
Contingent credits linked to the CAE		15	%
Letters of credit for goods circulation operations		20	%
Other undrawn credit lines		40	%
Debt purchase commitments in local currency abroad		50	%
Transactions related to contingent events		50	%
Warranty by endorsement and sureties		100	%
Other credit commitments		100	%
Other contingent loans		100	%

When dealing with transactions performed with customers with overdue loans, that exposure shall be equivalent to 100% of its contingent loans.

(u)

Provisions for minimum dividends:

According with the CNCB of the CMF, the Bank records within liabilities the portion of net income for the year that should be distributed to comply with the Corporations Law or its dividend policy. For these purposes, the Bank establishes a provision in a complementary equity account within retained earnings (Note No. 25).

For purposes of calculating the provision of minimum dividends, the distributable net income is considered, which is defined as that which results from reducing or adding to the net income for the year, the correction of the value of the paid-in capital and reserves, due to the effects of the variation of the Consumer Price Index.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(v)

Employee benefits:

Employee benefits are all forms of consideration granted by an entity in exchange for services provided by employees or severance pay.

Short-term employee benefits are employee benefits (other than termination benefits) that are expected to be settled in full before twelve months after the end of the annual reporting period in which the employees have rendered the related services (Note No. 24 letter (c)).

Staff vacations

The annual costs of vacations and staff benefits are recognized on an accrual basis.

Other short-term benefits

The entity contemplates for its employees an annual incentive plan for meeting objectives and individual contribution to the company’s results, which are eventually delivered, consisting of a certain number or portion of monthly salaries and are provisioned based on the estimated amount to be distributed.

Other long-term employee benefits are all employee benefits other than short-term employee benefits, post-employment benefits, and termination benefits.

Employee benefits for termination of employment contract

The Bank has agreed with part of the staff the payment of compensation to those who have completed 30 or 35 years of permanence, in the event that they retired from the Institution. The proportional part accrued by those employees who will have access to exercise the right to this benefit and who at the end of the year have not yet acquired it has been incorporated into this obligation.

The obligations of this benefit plan are valued according to the projected credit unit method, including as variables the staff turnover rate, the expected salary growth and the probability of using this benefit, discounted at the current rate for long-term operations (5.71% as of March 31, 2025 and December 31, 2024).

The discount rate used corresponds to the rate of 10-year Bonds in pesos of the Central Bank of Chile (BCP).

Gains and losses arising from changes in actuarial variables are recognized in Other Comprehensive Income. There are no other additional costs that should be recognized by the Bank.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(w)

Earnings per share:

The basic earnings per share is determined by dividing the net income attributed to the Bank’s owners in a period and the weighted average number of shares outstanding during that period.

Diluted earnings per share are determined similarly to basic earnings, but the weighted average number of outstanding shares is adjusted to take into account the potential dilutive effect of the options on shares, warrants and convertible debt. At the end of the periods ended March 31, 2025 and 2024 there are no concepts to adjust.

(x)

Interest revenue and expense and UF indexation:

Interest income and expenses and UF indexation (Notes No. 30 and No. 31) are recognized in the Consolidated Statement of Income using the effective interest rate method. The effective interest rate is the rate which exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument (or, where appropriate, in a shorter period), to the carrying amount of the financial asset or financial liability. To calculate the effective interest rate, the Bank determines cash flows by taking into account all contractual conditions of the financial instrument, excluding future credit losses.

The effective interest rate calculation includes all fees and other amounts paid or received that form part of the effective interest rate. Transaction costs include incremental costs that are directly attributable to the purchase or issuance of a financial asset or liability.

In the case of the impaired portfolio and current loans with a high risk of irrecoverability of loans and accounts receivable from customers, the Bank has applied a conservative position of discontinuing the accrual of interest and UF indexation on an accrual basis in the Consolidated Statement of Income, when the credit or one of its installments has been 90 days default in its payment.

(y)

Commission income and expenses:

Revenue and expenses from fees (Note No. 32) are recognized in the Consolidated Income Statement using the criteria established in IFRS 15 “Revenue from contracts with customers”.

Under IFRS 15, revenues are recognized considering the terms of the contract with customers. Revenue is recognized when or as the performance obligation is satisfied by transferring the goods or services committed to the customer.

Under IFRS 15, revenues are recognized using different criteria depending on their nature. The most significant are:

−

Those that correspond to a singular act, when the act that originates them takes place.

−

Those that originate in transactions or services that are extended over time, during the life of such transactions or services.

−

Commissions on loan commitments and other fees related to credit operations are deferred (together with the incremental costs directly related to the placement) and recognized as an adjustment to the effective interest rate of the placement. In the case of loan commitments, when there is no certainty of the date of effective placement, the commissions are recognized in the period of the commitment that originates it on a linear basis.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

The fees registered as income by the Bank correspond mainly to:

−

Commissions for credit prepayment: These commissions are accrued at the time the credits are prepaid.

−

Commissions for lines of credit and overdrafts: These commissions are accrued in the period related to the granting of lines of credit and overdrafts in checking accounts.

−

Commissions for warranty by endorsement and letters of credit: These commissions are accrued in the period related to the granting by the bank of payment guarantees for real or contingent obligations of third parties.

−

Commissions for card services: Correspond to commissions accrued for the period, related to the use of credit cards, debit cards and other.

−

Commissions for account management: Includes commissions that accrue in the period related to the maintenance of current accounts and other deposit accounts.

−

Commissions for collections and payments: Includes commissions generated by the collection and payment services provided by the Bank.

−

Commissions for intermediation and management of securities: correspond to income from brokerage service, placements, administration and custody of securities.

−

Remuneration for administration of mutual funds, investment funds or others: corresponds to the commissions from the General Fund Administrator for the administration of third-party funds.

−

Remuneration for brokerage and insurance consulting services: Income from brokerage and insurance advice by the Bank or its subsidiaries is included.

−

Commissions for factoring operations services: Commissions for factoring operations services performed by the Bank are included.

−

Commissions for financial consulting services: commissions for financial advisory services performed by the Bank and its subsidiary are included.

−

Other commissions earned: includes income generated from foreign currency exchange, issuance bank guarantees, issuance of bank check, use of distribution channels, agreement on the use of a brand and placement of financial products and cash transfers, and recognition of payments associated with commercial alliances, among others.

Commission expenses include:

−

Commissions for card operations: commissions paid for credit and debit card operations are included.

−

Commissions for licensing the use of card brands.

−

Expenses for obligations of loyalty and merits programs for card customers.

−

Commissions for operations with securities: commissions for deposit and custody of securities and brokerage of securities are included.

−

Other commissions for services received: Commissions are included for guarantees and endorsements of Bank obligations, for foreign trade operations, for correspondent banks in the country and abroad, for ATMs and electronic fund transfer services.

−

Commissions for compensation of large value payments: corresponds to commissions paid to entities such as ComBanc, CCLV Contraparte Central, etc.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

(z)

Impairment of non-financial assets:

The carrying amounts of the non-financial assets of the Bank and its subsidiaries, are reviewed throughout the year and especially at each reporting date, to determine if any indication of impairment exists. If such indication exists, the recoverable amount of the asset is then estimated.

(aa)

Financial and operating leases:

−

The Bank acting as lessor

Assets leased to customers under agreements which transfer substantially all the risks and rewards of ownership, with or without ultimate legal title, are classified as finance leases. When assets held are subject to a finance lease, the leased assets are derecognized and a receivable is recognized which is equal to the present value of the minimum lease payments, discounted at the interest rate implicit in the lease. Initial direct costs incurred in negotiating, and arranging a finance lease are incorporated into the receivable through the discount rate applied to the lease. Finance lease income is recognized over the lease term based on a pattern reflecting a constant periodic rate of return on the net investment in the finance lease.

Assets leased to customers under agreements, which do not transfer substantially all the risks, and rewards of ownership are classified as operating leases.

The leased investment properties, under the operating lease modality, are included in the Consolidated Statement of Financial Position as “Other assets” and depreciation is determined on the book value of these assets, applying a proportion of the value in a systematic way on the economic use of the estimated useful life. Lease income is recognized on a straight-line basis over the lease term.

−

The Bank acting as lessee

A contract is, or contains a lease, if one party has the right to control the use of an identified asset for a period of time in exchange for a regular payment (Note No. 17).

On the start date of a lease, a right-to-use assets leased is determined at cost, which includes the amount of the initial measurement of the lease liability plus other disbursements made.

The amount of the lease liability is measured at the present value of future lease payments that have not been paid on that date, which are discounted using the Bank’s incremental financing interest rate.

The right-of-use asset is measured using the cost model, less accumulated depreciation and accumulated losses due to impairment of value, depreciation of the right-of-use asset, is recognized in the Consolidated Statements of Income based on the linear depreciation method from the start date and until the end of the lease term.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

The monthly variation of the UF for the contracts established in said monetary unit should be treated as a new measurement, therefore the UF readjustment modifies the value of the lease liability, and in parallel, the amount of the right-of-use asset must be adjusted by this effect.

After the start date, the lease liability is measured by lowering the carrying amount to reflect the lease payments made and the modifications to the lease.

According to IFRS 16 “Leases” the Bank does not apply this rule to contracts whose duration is 12 months or less and those that contain an underlying asset of low value. In these cases, payments are recognized as a lease expense.

(ab)

Additional provisions:

In accordance to the CMF regulations, the banks have recorded additional allowances for its individually evaluated loan portfolio, taking into consideration the expected impairment of this portfolio. The calculation of this allowance is performed based on the Bank’s historical experience and considering possible future adverse macroeconomic conditions or circumstances that could affect a specific sector.

The provisions made in order to forestall the risk of macroeconomic fluctuations should anticipate situations reversal of expansionary economic cycles in the future, could translate into a worsening in the conditions of the economic environment and thus, function as a countercyclical mechanism accumulation of additional provisions when the scenario is favorable and release or assignment to specific provisions when environmental conditions deteriorate.

According to the above, additional provisions must always correspond to general provisions on commercial, consumer or mortgage loans, or segments identified, and in no case may be used to offset weaknesses of the models used by the Bank (Note No. 26).

As of March 31, 2025, the balance of additional provisions amounts to Ch$631,217 million (Ch$700,252 million in December 2024), which are presented in the caption “Special Provisions for Credit Risk” of liabilities in the Interim Consolidated Statement of Financial Position.

(ac)

Fair value measurement:

“Fair value” is understood as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants in a principal (or more advantageous) market at the measurement date under current market conditions, independent whether that price is directly observable or estimated using another valuation technique. The most objective and usual reference of fair value is the price that would be paid in an active, transparent and deep market (“quoted price” or “market price”).

When available, the Bank estimates the fair value of an instrument using quoted prices in an active market for that instrument. A market is considered active if quoted prices are readily and regularly available and represent actual and regularly occurring market transactions on an arm’s length basis.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Main Accounting Criteria Used, continued:

If a market for a financial instrument is not active, the Bank establishes fair value using a valuation technique. These valuation techniques include the use of recent market transactions between knowledgeable, willing parties in an arm’s length transaction, if available, as well as references to the fair value of other instruments that are substantially the same, discounted cash flows and options pricing models.

The chosen valuation technique makes maximum use of information obtained in the market, using the least possible amount of data estimated by the Bank, incorporates all the factors that market participants would consider to establish the price, and will be consistent with generally accepted economic methodologies for calculating the price of financial instruments. The variables used by the valuation technique reasonably represent market expectations and reflect the return-risk factors inherent to the financial instrument. Periodically, the Bank calibrates the valuation techniques and tests it for validity using prices from observable current market transaction in the same instrument or based on available observable market information.

The best evidence of the fair value of a financial instrument at initial recognition is the transaction price (i.e. the fair value of the consideration given or received) unless the fair value of that instrument is evidenced by comparison with other observable current market transactions in the same instrument (i.e. without modification or repackaging) or based on a valuation technique whose variables include only data from observable markets. However, when transaction price provides the best evidence of fair value at initial recognition, the financial instrument is initially measured at the transaction price and any difference between this price and the value initially obtained from a valuation model is subsequently recognized in incomes.

On the other hand, it should be noted that the Bank has financial assets and liabilities offset each other’s market risks, based on which average market prices are used as a basis for determining their fair value.

Then, the fair value estimates obtained from models are adjusted for any other factors, such as liquidity risk or model uncertainties; to the extent that the Bank believes that a third-party market participant would take them into account in pricing a transaction.

The Bank’s fair value disclosures are included in Note No. 44.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted:

Standards approved and/or modified by the International Accounting Standards Board (IASB) and by the Commission for the Financial Market (CMF):

Standards and interpretations that have been adopted in these Interim Consolidated Financial Statements.

As of the date of issuance of these Interim Consolidated Financial Statements, the new accounting pronouncements issued by both the IASB and the CMF, which have been adopted by the Bank and its subsidiaries, are detailed below:

- Accounting standards issued by IASB.

IAS 21 Effects of Changes in Foreign Exchange Rates.

In August 2023, the IASB published amendments to IAS 21. These amendments set out criteria that will allow companies to assess whether a currency is exchangeable and when it is not so, they can determine the exchange rate to use and the disclosures to provide.

The amendments were effective for periods beginning on or after January 1, 2025.

The implementation of this new standard had no impact on the Bank or its subsidiaries.

- Accounting standards issued by CMF.

Circular No. 2,346. Standard model of provisions for consumer loans. Modifies Chapter B-1 “Provisions for credit risk” and Chapter E “Transitional disposition” of the CNCB.

On March 6, 2024, the CMF published this circular that introduces the regulations that establish the Standardized Methodology for computing Provisions for Consumer Loans in Chapter B-1 of the CNCB.

The regulations establish matrices for determining the Probability of Default (PD) and Loss Given Default (LGD) parameters that must be used to calculate the minimum level of provisions.

The PD matrix is determined based on three factors (default in the bank, in the financial system and the possession of a mortgage loan).

Regarding the LGD, the model allows differentiation according to the type of credit (leasing or automotive, installments, cards and lines or other consumer) and also distinguishes those debtors with mortgage credit for housing in the system, allowing banks recognize a loss level adjusted to the specific characteristics of each operation.

The regulations of the standard provision model for consumer loans will come into force as of the accounting close of January 2025. Until that date, banks will continue to estimate the provisions of this portfolio only through their internal methodologies. The impact of the first application must be recorded in the entity’s income statement.

The new methodology was implemented in January 2025 and will impact on result before tax charge of approximately $69,000 millon in the year 2025.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

New Standards and interpretations that have been issued but their application date is not yet in force:

The following is a summary of new standards, interpretations and improvements to the International Financial Reporting Standards issued by the International Accounting Standards Board (IASB) and the CMF that are not yet effective as of March 31, 2025, as follows:

Accounting standards issued by IASB.

IAS 28 Investments in Associates and Joint Venture and IFRS 10 Consolidated Financial Statements.

In September 2014, the IASB published this modification, which clarifies the scope of the profits and losses recognized in a transaction, that involves an associate or joint venture, and that this depends on whether the asset sold or contribution constitutes a business. Therefore, the IASB concluded that all gains or losses must be recognized against loss of control of a business.

Likewise, the gains or losses that result from the sale or contribution of a subsidiary that does not constitute a business (definition of IFRS 3) to an associate or joint venture must be recognized only to the extent of unrelated interests in the associate or joint venture.

During December 2015, the IASB agreed to set the effective date of this modification in the future, allowing its immediate application.

Banco de Chile and its subsidiaries will have no impact on the Consolidated Financial Statements as a result of the application of this amendment.

IFRS 18 – Presentation and Disclosure in Financial Statements.

In April 2024, IASB published a new accounting standard, IFRS 18 Presentation and Disclosure in Financial Statements, replacing the IAS 1 Presentation of Financial Statements.

This new standard aims to improve the usefulness of the presented and disclosed information so that the comparability of the financial information is enhanced, complying with the qualitative characteristics defined in the conceptual framework of the International Financial Reporting Standards (IFRS).

According to the information provided by IASB, the standard introduces three new requirements:

Improvement comparability of the income statement.

Higher transparency in measuring the performance defined by the management.

More useful grouping of the information in the financial statements.

The standard will be effective for annual accounting periods beginning on or after January 1, 2027.

Due to these Interim Consolidated Financial Statements being prepared according to CMF norms defined in CNCB, the adoption of this standard is conditional to the modification of the CNCB.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

IFRS 19 – Subsidiaries without Public Accountability: Disclosures

In May 2024, the IASB published the new accounting standard IFRS 19 Subsidiaries without Public Accountability and Disclosures, which will come into effect on January 1, 2027 with earlier application permitted.

This new standard allows to save in the preparation costs of the financial statements of subsidiaries without public interest, making possible to disclose less information and adapt the financial statements to the needs of the users when certain conditions are met.

The standard establishes that a subsidiary is in the public interest if:

It has debt instruments or capital that is subject to trade on a public market or if it is in the process of issuing such instruments to negotiate on a public market; or

Manages fiduciary assets for a broad group of external people as one of its principal businesses.

A subsidiary is eligible and can apply IFRS 19 in its consolidated or individual financial statements if:

It does not have public responsability; and

Its ultimate parent company or any other intermediate parent company issued consolidated financial statements that are available for public use and comply with the IFRS.

This new standard will not have impact on the Interim Consolidated Financial Statements.

IFRS 9 and IFRS 7 Classification and Measurement of Financial Instruments

In May 2024, the IASB issued amendments to the classification and measurement requirements of IFRS 9, “Financial Instruments”, and to the disclosure requirements required by IFRS 7, “Financial Instruments: Disclosure Information” according to the following:

Derecognition of financial liabilities settled by electronic transfer.

The amendment allows an entity to consider that a financial liability (or part of it) that is settled using an electronic payment system is cancelled, expires or the liability otherwise qualifies for derecognition before the settlement date, if certain specified criteria are met. An entity that chooses to apply the deregistration option would be required to apply it to all settlements made through the same electronic payment system.

Classification of financial assets

The amendment provides guidance on how an entity can evaluate whether the contractual cash flows of a financial asset are consistent with a basic loan agreement, for classification and measurement purposes.

The amendment also improves the description of the term “non-recourse”, meaning that a financial asset has “non-recourse” characteristics if an entity’s ultimate right to receive cash flows is contractually limited to the cash flows generated by specific assets.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

Disclosures

For investments in equity financial instruments designated at fair value through other comprehensive income, an entity is required to disclose the fair value gain or loss presented in other comprehensive income during the period, separately demonstrating the fair value gain or loss that relates to investments derecognised in the period and the fair value gain or loss of the fair value that relates to the investments held at the end of the period.

Additional disclosures are required for financial assets and liabilities with contractual terms that reference a contingent event (including those that are linked to Environmental, Social and Governance factor (ESG)).

The amendments are effective for annual periods beginning on or after January 1, 2026. Early application is permitted.

The Bank is in the process of analyzing the impact of this new regulation.

Circular No. 2,347. Precisions of information requirements on subsidiaries, branches abroad and Banking Support Companies.

On April 24, 2024, the CMF published this circular that unifies and establishes in the General Background section of the MSI the instructions regarding the information requirements that banks must prepare and send to the CMF, regarding subsidiaries, branches in the abroad and Banking Support Companies (SAG), which include accounting, debtor, risk and other information.

The first shipment of the new information requirements will be from the first quarter of 2025.

As of the date of issue of these Interim Consolidated Financial Statements, the Bank implemented this information requirement.

Accounting Changes:

As directed by the Financial Market Commission, the Bank adopted the new standard provisioning model for consumer loans beginning in January 2025. The impact will represent a pre-tax charge of approximately Ch$69,000 million in fiscal year 2025.

During the period ended March 31, 2025, there have been no others material or relative importance changes in accounting that affect the presentation of these Interim Consolidated Financial Statements.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Relevant Events:

(a)

On January 17, 2025, Banco de Chile reported that the Financial Market Commission informed the Bank that it resolved to maintain as a capital requirement for Pillar II risk, the charge already constituted corresponding to 0.13% of the risk-weighted assets net of required provisions, in accordance with article 66 quinquies of the General Banking Law.

(b)

On January 23, 2025, the subsidiary Banchile Corredores de Bolsa reported that the Board of Directors agreed to appoint Mr. José Antonio Díaz Orellana as General Manager of Banchile Corredores de Bolsa S.A., who until that date served as Interim General Manager.

(c)

On February 11, 2025, the Board of Directors of Banco de Chile agreed to convene an Ordinary Shareholders’ Meeting for March 27, 2025 in order to propose, among other matters, the following distribution of profits for the year ended on December 31, 2024:

Deduct and withhold from the net income of the year, an amount equivalent to the effect of inflation of the paid capital and reserves according to the variation of the Consumer Price Index that occurred between November 2023 and November 2024, amounting to Ch$212,012,307,434 which will be added to retained earnings from previous periods.

Distribute in the form of dividend the remaining profit, corresponding to a dividend of Ch$9.85357420889 to each of the 101,017,081,114 shares of the Bank.

Consequently, it will be proposed a distribution as dividend of 82.4% of the profits for the year ended December 31, 2024.

(d)

During the period 2025 Banco de Chile has reported as essential fact the following placements in the local market of senior, dematerialized and bearer bonds issued by Banco de Chile and registered in the Securities Registry of the Financial Market Commission:

Date

Registration
number in the
Securities
Registry

Serie

Amount

Currency

Maturity
date

Average rate

March 17, 2025

11/2022

600,000

01/01/2030

2.97

March 20, 2025

11/2022

300,000

01/01/2030

2.97

March 21, 2025

11/2022

1,050,000

01/01/2030

2.97

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Business Segments:

For management purposes, the Bank is organized into four segments, which are defined based on the types of products and services offered, and the type of client in which focuses as described below:

Retail:

This segment focuses on individuals and small and medium-sized companies (SMEs) with annual sales up to UF 70,000, where the product offering focuses primarily on consumer loans, commercial loans, checking accounts, credit cards, credit lines and Residential mortgage loans.

Wholesale:

This segment focused on corporate clients and large companies, whose annual revenue exceed UF 70,000, where the product offering focuses primarily on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases.

Treasury:

This segment includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading.

Transactions with customers carried out by the Treasury are reflected in the respective aforementioned segments. These products are highly transaction-focused and include foreign exchange transactions, derivatives and financial instruments in general, among others.

Subsidiaries:

Corresponds to the businesses generated by the companies controlled by the Bank, which carry out activities complementary to the bank business. The companies that comprise this segment are:

Banchile Administradora General de Fondos S.A.

Banchile Asesoría Financiera S.A.

Banchile Corredores de Seguros Ltda.

Banchile Corredores de Bolsa S.A.

Socofin S.A. (*)

Operadora de Tarjetas B-Pago S.A.

(*)

See Note No. 49 letter (b) on Subsequent Events.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Business Segments, continued:

The financial information used to measure the performance of the Bank’s business segments is not comparable with similar information from other financial institutions because each institution relies on its own definitions. The accounting policies applied to the segments is the same as those described in the summary of accounting principles. The Bank obtains the majority of the results from: interest, indexation and commissions and financial operations and changes, discounting provisions for credit risk and operating expenses. Management is mainly based on these concepts to evaluate the performance of the segments and make decisions about the goals and allocations of resources of each unit. Although the results of the segments reconcile with those of the Bank at the total level, this is not necessarily the case in terms of the different concepts, given that management is measured and controlled individually and not on a consolidated basis, applying the following criteria:

●

The net interest margin of loans and deposits is obtained aggregating the net financial margins of each individual operation of credit and uptake made by the bank. For these purposes, the volume of each operation and its contribution margin are considered, which in turn corresponds to the difference between the effective rate of the customer and the internal transfer price established according to the term and currency of each operation. Additionally, the net margin includes the result of interest and indexation from the accounting hedges.

●

Provisions for credit risk are determined at the customer and counterparty level based on the characteristics of each of their operations. In the case of additional provisions, these are assigned to the different business segments based on the credit risk weighted assets that each segment has.

●

The capital and its financial impacts on outcome have been assigned to each segment based on the risk-weighted assets.

●

Operational expenses are reflected at the level of the different functional areas of the Bank. The allocation of expenses from functional areas to business segments is done using different allocation criteria, at the level of the different concepts and expense items.

Taxes are managed at a corporate level and are not allocated to business segments.

For the periods ended March 31, 2025 and 2024 there was no income from transactions with a customer or counterparty that accounted for 10% or more of the Bank’s total revenues.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Business Segments, continued:

The following table presents the income by segment for the periods ended between January 1, and March 31, 2025 and 2024 for each of the segments defined above:

	Retail						Wholesale						Treasury						Subsidiaries						Subtotal						Consolidation adjustment						Total
	March			March			March			March			March			March			March			March			March			March			March			March			March			March
	2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Net interest revenue (expense) and UF indexation		384,756			388,284			181,526			199,289			(20,415	)		(55,139	)		(746	)		(2,675	)		545,121			529,759			550			575			545,671			530,334
Net commissions revenue (expense)		91,051			76,600			23,522			23,846			694			662			50,745			45,181			166,012			146,289			(9,163	)		(8,817	)		156,849			137,472
Profit (loss) of financial operations		98			81			4,591			3,267			30,926			(14,745	)		8,094			10,268			43,709			(1,129	)		(550	)		(575	)		43,159			(1,704	)
Foreign currency changes, indexation and accounting hedge		599			7,534			7,894			7,605			2,269			83,989			6,721			7,319			17,483			106,447			—			—			17,483			106,447
Other income		12,127			7,535			4,180			1,749			—			—			723			975			17,030			10,259			(2,710	)		(2,680	)		14,320			7,579
Income attributable to investments in other companies		1,309			(466	)		328			583			58			66			39			35			1,734			218			—			—			1,734			218
Total operating revenue		489,940			479,568			222,041			236,339			13,532			14,833			65,576			61,103			791,089			791,843			(11,873	)		(11,497	)		779,216			780,346
Expenses from salaries and employee benefits		(91,063	)		(91,564	)		(27,647	)		(26,963	)		(1,128	)		(1,074	)		(21,083	)		(21,814	)		(140,921	)		(141,415	)		5			5			(140,916	)		(141,410	)
Administrative expenses		(87,053	)		(88,593	)		(19,773	)		(19,772	)		(590	)		(519	)		(11,276	)		(11,607	)		(118,692	)		(120,491	)		11,596			11,268			(107,096	)		(109,223	)
Depreciation and amortization		(19,486	)		(19,368	)		(2,146	)		(1,995	)		(191	)		(196	)		(1,824	)		(1,843	)		(23,647	)		(23,402	)		—			—			(23,647	)		(23,402	)
Impairment of non-financial assets		(5	)		—			—			—			—			—			(4	)		(94	)		(9	)		(94	)		—			—			(9	)		(94	)
Other operating expenses		(7,132	)		(7,582	)		(2,102	)		(1,992	)		(11	)		(15	)		(397	)		(350	)		(9,642	)		(9,939	)		272			224			(9,370	)		(9,715	)
Total operating expenses		(204,739	)		(207,107	)		(51,668	)		(50,722	)		(1,920	)		(1,804	)		(34,584	)		(35,708	)		(292,911	)		(295,341	)		11,873			11,497			(281,038	)		(283,844	)
Expenses for credit losses		(82,177	)		(93,132	)		(7,970	)		(18,551	)		(57	)		(1,485	)		—			—			(90,204	)		(113,168	)		—			—			(90,204	)		(113,168	)
Income from operations		203,024			179,329			162,403			167,066			11,555			11,544			30,992			25,395			407,974			383,334			—			—			407,974			383,334
Income taxes																																						(79,030	)		(85,679	)
Income after income taxes																																						328,944			297,655

The following table presents assets and liabilities of the periods ended March 31, 2025 and December 31, 2024 by each segment defined above:

	Retail				Wholesale				Treasury				Subsidiaries				Subtotal				Consolidation adjustment						Total
	March		December		March		December		March		December		March		December		March		December		March			December			March		December
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025			2024			2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$

Assets		25,082,720		24,832,432		13,418,177		13,259,610		13,684,486		12,589,488		1,109,611		924,392		53,294,994		51,605,922		(227,043	)		(227,179	)		53,067,951		51,378,743
Current and deferred taxes																												701,953		716,698
Total assets																												53,769,904		52,095,441

Liabilities		17,979,919		18,015,015		10,875,380		10,790,972		18,836,648		17,198,350		906,480		694,984		48,598,427		46,699,321		(227,043	)		(227,179	)		48,371,384		46,472,142
Current and deferred taxes																												3,160		298
Total liabilities																												48,374,544		46,472,440

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Cash and Cash Equivalents:

The detail of the balances included under cash and cash equivalents as follows:

	March			December
	2025			2024
	MCh$			MCh$
Cash and due from banks:
Cash		889,904			879,130
Deposit in Chilean Central Bank (*)		315,366			1,036,476
Deposit in abroad Central Bank		—			—
Deposits in domestic banks		15,194			12,767
Deposits in abroad banks		1,110,743			770,703
Subtotal – Cash and due from banks		2,331,207			2,699,076

Net transactions in the course of settlement (**)		(177,857	)		88,851
Others cash equivalents (***)		2,779,617			1,701,659
Total cash and cash equivalents		4,932,967			4,489,586

The detail of the balances included under net ongoing clearance operations is as follows:

	March			December
	2025			2024
	MCh$			MCh$
Assets
Documents drawn on other banks (clearing)		85,403			109,635
Funds receivable		271,334			262,821
Subtotal - assets		356,737			372,456

Liabilities
Funds payable		(534,594	)		(283,605	)
Subtotal - liabilities		(534,594	)		(283,605	)
Net transactions in the course of settlement		(177,857	)		88,851

(*)

The level of funds in cash and in the Central Bank of Chile responds to regulations on reserve requirements that the bank must maintain on average in monthly periods.

(**)

Ongoing clearance operations correspond to transactions in which only the settlement remains that will increase or decrease the funds in the Central Bank of Chile or in foreign banks, normally within 12 or 24 business hours.

(***)

Refers to financial instruments that meet the criteria to be considered as “cash equivalents” as defined by IAS 7, i.e., to qualify as “cash equivalents” investments in debt financial instruments must be: short-term with an original maturity of 90 days or less from the date of acquisition, highly liquid, readily convertible to known amounts of cash from the date of initial investment, and that the financial instruments are exposed to an insignificant risk of changes in their value.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Financial Assets Held for Trading at Fair Value through Profit or Loss:

The item detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Financial derivative contracts		2,044,549		2,303,353
Debt Financial Instruments		2,750,521		1,714,381
Other financial instruments		332,337		411,689
Total		5,127,407		4,429,423

(a)

The Bank as of March 31, 2025 and December 31, 2024, maintains the following asset portfolio of derivative instruments:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair Value Assets
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Currency forward		—		—		4,963,352		3,289,559		1,510,820		1,712,274		4,221,778		2,589,278		499,008		916,016		30,689		26,575		—		4,442		11,225,647		8,538,144		240,533		227,670
Interest rate swap		—		—		598,990		376,933		1,778,316		2,249,606		6,092,564		5,133,205		7,778,828		7,253,517		4,259,103		4,172,518		4,178,427		4,250,312		24,686,228		23,436,091		593,420		732,395
Interest rate and cross currency swap		—		—		225,283		107,571		623,992		249,871		1,776,997		2,198,760		2,120,309		2,164,528		1,537,302		1,449,064		2,729,616		2,686,049		9,013,499		8,855,843		1,206,803		1,338,086
Call currency options		—		—		24,429		11,551		37,867		42,692		47,696		57,908		7,028		11,340		—		—		—		—		117,020		123,491		2,655		4,949
Put currency options		—		—		23,480		10,208		22,789		16,989		19,135		23,301		—		—		—		—		—		—		65,404		50,498		1,138		253
Total		—		—		5,835,534		3,795,822		3,973,784		4,271,432		12,158,170		10,002,452		10,405,173		10,345,401		5,827,094		5,648,157		6,908,043		6,940,803		45,107,798		41,004,067		2,044,549		2,303,353

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Financial Assets Held for Trading at Fair Value through Profit or Loss, continued:

The detail of the Debt Financial Instruments is the following:

	March		December
	2025		2024
	MCh$		MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		2,365,167		1,217,317
Bonds and Promissory notes from the General Treasury of the Republic		229,763		278,140
Other fiscal debt financial instruments		—		—

Other Instruments Issued in Chile
Debt financial instruments from other domestic banks		155,591		217,948
Bonds and trade effects from domestic companies		—		—
Other debt financial instruments issued in the country		—		—

Instruments Issued Abroad
Financial instruments from foreign governments or Central Banks		—		976
Financial debt instruments from foreign goverments and fiscal entities		—		—
Debt financial instruments from other foreign banks		—		—
Bonds and trade effects from foreign companies		—		—
Total		2,750,521		1,714,381

Under instruments of the State and Central Bank of Chile are classified instruments sold under repurchase agreements to clients and financial institutions, by an amount of Ch$6,932 million as of March 31, 2025 (Ch$10,038 million as of December 31, 2024). The repurchase agreements have an average maturity of 1 day as of March 31, 2025 (2 days in December 2024).

Instruments sold under repurchase agreements to clients and financial institutions include other debt financial instruments issued in the country, by an amount of Ch$119,133 million as of March 31, 2025 (Ch$89,223 million in December 2024). The repurchase agreements have an average maturity of 20 days at the end of the period 2025 (7 days in December 2024).

Additionally, the Bank has investments in own-issued letters of credit for an amount equivalent to Ch$819 million as of March 31, 2025 (Ch$998 million in December 2024), which are presented as a reduction of the liability item “Debt Financial Instruments Issued”.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

Financial Assets Held for Trading at Fair Value through Profit or Loss, continued:

The detail of other financial instruments is as follows:

	March		December
	2025		2024
	MCh$		MCh$
Mutual fund investments
Funds managed by related companies		322,111		408,121
Funds managed by third-parties		—		—

Equity instruments
Domestic equity instruments		2,569		1,039
Foreign equity instruments		4,821		—

Loans originated and acquired by the entity		—		—

Others		2,836		2,529
Total		332,337		411,689

Non-trading Financial Assets mandatorily measured at Fair Value through Profit or Loss:

As of March 31, 2025 and December 31, 2024, the Bank does not hold any non-trading financial assets mandatorily measured at fair value through profit or loss.

10.

Financial Assets and Liabilities designated as at Fair Value through Profit or Loss:

As of March 31, 2025 and December 31, 2024, the Bank does not hold financial assets and liabilities designated as at fair value through profit or loss.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

11.

Financial Assets at Fair Value through Other Comprehensive Income:

The item detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Debt Financial Instruments		1,947,733		2,088,345
Other financial instruments		—		—
Total		1,947,733		2,088,345

(a)

As of March 31, 2025 and December 31, 2024, the detail of debt financial instruments is as follows:

	March		December
	2025		2024
	MCh$		MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		—		—
Bonds and Promissory notes from the General Treasury of the Republic		633,381		660,321
Other fiscal debt financial instruments		325		456

Other Instruments Issued in Chile
Debt financial instruments from other domestic banks		1,162,383		1,321,030
Bonds and trade effects from domestic companies		64,964		54,600
Other debt financial instruments issued in the country		—		—

Instruments Issued Abroad
Financial instruments from foreign Central Banks		—		—
Financial instruments from foreign governments and fiscal entities		75,940		48,883
Debt financial instruments from other foreign banks		9,792		—
Bonds and trade effects from foreign companies		948		3,055
Other debt financial instruments issued abroad		—		—
Total		1,947,733		2,088,345

Instruments of the Government and the Central Bank of Chile include instruments sold under repurchase agreements to clients and financial institutions for an amount of Ch$6,600 million in March 2025 (Ch$10,001 million in December 2024). The repurchase agreements have an average maturity of 1 day in March 2025 (2 days in December 2024).

Under the same item, instruments that guarantee margins for cleared derivatives transactions are classified through Comder Contraparte Central S.A. for an amount of Ch$36,792 million as of March 31, 2025 (Ch$22,719 million as of December 31, 2024).

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

11.

Financial Assets at Fair Value through Other Comprehensive Income, continued:

As of March 31, 2025 the accumulated credit impairment for debt instruments at fair value through other comprehensive income was Ch$4,042 million (Ch$4,226 million as of December 31, 2024).

(b)

The analysis of changes in fair value and expected losses of debt instruments measured at fair value is as follows:

	Phase 1 Individual						Phase 2 Individual				Phase 3 Individual				Total
	Fair value			Impairment			Fair value		Impairment		Fair value		Impairment		Fair value			Impairment
	MCh$			MCh$			MCh$		MCh$		MCh$		MCh$		MCh$			MCh$

Balance as of January 1, 2024		3,786,525			5,500			—		—		—		—		3,786,525			5,500
Net change in balance		(1,694,790	)		(1,274	)		—		—		—		—		(1,694,790	)		(1,274	)
Change in fair value		(3,390	)		—			—		—		—		—		(3,390	)		—
Transfer to Phase 1		—			—			—		—		—		—		—			—
Transfer to Phase 2		—			—			—		—		—		—		—			—
Transfer to Phase 3		—			—			—		—		—		—		—			—
Impact due to transfer between phases		—			—			—		—		—		—		—			—
Net impact due to impairment		—			—			—		—		—		—		—			—
Balance as of December 31, 2024		2,088,345			4,226			—		—		—		—		2,088,345			4,226

Balance as of January 1, 2025		2,088,345			4,226			—		—		—		—		2,088,345			4,226
Net change in balance		(143,099	)		(184	)		—		—		—		—		(143,099	)		(184	)
Change in fair value		2,487			—			—		—		—		—		2,487			—
Transfer to Phase 1		—			—			—		—		—		—		—			—
Transfer to Phase 2		—			—			—		—		—		—		—			—
Transfer to Phase 3		—			—			—		—		—		—		—			—
Impact due to transfer between phases		—			—			—		—		—		—		—			—
Net impact due to impairment		—			—			—		—		—		—		—			—
Balance as of March 31, 2025		1,947,733			4,042			—		—		—		—		1,947,733			4,042

(c)

Realized and unrealized gains and losses:

As of March 31, 2025, the portfolio of debt financial instruments includes an accumulated unrealized gain of Ch$6,781 million (unrealized gain of Ch$4,478 million as of December 31, 2024), recorded as an equity valuation adjustment.

Gross realized gains and losses on the sale of debt financial instruments, as of March 31, 2025 and 2024 are reported under “Net Financial income (expense)” (See Note No. 33).

The changes in realized gains and losses at the end of both periods are the following:

	March			March
	2025			2024
	MCh$			MCh$

Unrealized gains (losses)		3,316			8,979
Realized losses (gains) reclassified to income		(1,013	)		(2,539	)
Subtotal		2,303			6,440
Income tax on other comprehensive income		(250	)		(2,429	)
Net effect in equity		2,053			4,011

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12.

Derivative Financial Instruments for hedging purposes:

(a.1)

As of March 31, 2025 and December 31, 2024, the Bank has the following asset portfolio of financial derivative instruments for accounting hedging purposes:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Assets
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Derivatives held for fair value hedges		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—

Cash flow hedge derivatives
Interest rate swap and cross currency swap		—		—		—		—		—		—		47,303		131,987		135,286		274,935		123,566		122,041		150,362		306,460		456,517		835,423		47,108		73,959
Total		—		—		—		—		—		—		47,303		131,987		135,286		274,935		123,566		122,041		150,362		306,460		456,517		835,423		47,108		73,959

(a.2)

As of March 31, 2025 and December 31, 2024, the Bank has the following debt portfolio of financial derivative instruments for accounting hedging purposes:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Liabilities
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Derivatives held for fair value hedges		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—

Cash flow hedge derivatives
Interest rate swap and cross currency swap		—		—		—		—		38,662		—		184,161		134,806		177,568		34,060		133,917		132,265		1,046,482		875,618		1,580,790		1,176,749		200,844		141,040
Total		—		—		—		—		38,662		—		184,161		134,806		177,568		34,060		133,917		132,265		1,046,482		875,618		1,580,790		1,176,749		200,844		141,040

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12.

Derivative Financial Instruments for hedging purposes, continued:

(b)

Fair value Hedges:

As of March 31, 2025 and December 31, 2024, no fair value hedges are held.

(c)

Cash flow Hedges:

(c.1)

The Bank uses cross currency swaps to hedge the risk from variability of cash flows attributable to changes in the interest rates and foreign exchange of foreign banks obligations and bonds issued abroad in US Dollars, Hong Kong dollars, Swiss Franc, Japanese Yens, Peruvian Sol, Australian Dollars, Euros, Norwegian kroner and Mexican peso. The cash flows of the cross currency swaps equal the cash flows of the hedged items, which modify uncertain cash flows to known cash flows derived from a fixed interest rate.

Additionally, these cross currency swap contracts are used to hedge the risk from variability of the Unidad de Fomento (“CLF”) in assets flows denominated in CLF until a nominal amount equal to the portion notional of the hedging instrument CLF, whose readjustment impact the item “Interest Revenue” of the Income Financial Statements.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12.

Derivative Financial Instruments for hedging purposes, continued:

(c)

Cash flow Hedges, continued:

(c.2)

Below are the cash flows from bonds issued abroad objects of this hedge and the cash flows of the asset part of the derivative instrument:

	Demand				Up to 1 month						Over 1 month and up to 3 months						Over 3 months and up to 12 months						Over 1 year and up to 3 years						Over 3 years and up to 5 years						Over 5 years						Total
	March		December		March			December			March			December			March			December			March			December			March			December			March			December			March			December
	2025		2024		2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Hedge element
Outflows:
Corporate Bond		—		—		(1,972	)		(472	)		(48,354	)		(7,576	)		(166,788	)		(213,764	)		(430,138	)		(444,033	)		(350,227	)		(357,141	)		(1,253,842	)		(1,297,164	)		(2,251,321	)		(2,320,150	)
Obligation USD		—		—		(2,508	)		—			—			—			(97,828	)		(104,466	)		—			—			—			—			—			—			(100,336	)		(104,466	)

Hedge instrument
Inflows:
Cross Currency Swap		—		—		4,480			472			48,354			7,576			264,616			318,230			430,138			444,033			350,227			357,141			1,253,842			1,297,164			2,351,657			2,424,616
Net cash flows		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—

(c.3)

Below are the cash flows from underlying assets and the cash flows of the liability part of the derivative instrument:

	Demand				Up to 1 month						Over 1 month and up to 3 months						Over 3 months and up to 12 months						Over 1 year and up to 3 years						Over 3 years and up to 5 years						Over 5 years						Total
	March		December		March			December			March			December			March			December			March			December			March			December			March			December			March			December
	2025		2024		2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024			2025			2024
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Hedge element
Inflows:
Cash flows in CLF		—		—		2,794			1,588			49,720			2,804			262,244			306,543			380,819			377,477			308,569			304,794			1,293,281			1,280,412			2,297,427			2,273,618

Hedge instrument
Outflows:
Cross Currency Swap		—		—		(2,794	)		(1,588	)		(49,720	)		(2,804	)		(262,244	)		(306,543	)		(380,819	)		(377,477	)		(308,569	)		(304,794	)		(1,293,281	)		(1,280,412	)		(2,297,427	)		(2,273,618	)
Net cash flows		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12.

Derivative Financial Instruments for hedging purposes, continued:

(c)

Cash flow Hedges, continued:

With respect to UF assets hedged; these are revalued monthly according to the variation of the UF, which is equivalent to monthly reinvest the assets until maturity of the relationship hedging.

(c.4)

The unrealized results generated during the period 2025 by those derivative contracts that conform the hedging instruments in this cash flow hedging strategy, have been recorded with charge to equity amounting to Ch$9,884 million (charge to equity of Ch$5,247 million in March 2024). The net effect of taxes charge to equity amounts to Ch$7,215 million (charge to equity of Ch$3,830 million during March 2024).

The accumulated balance for this concept as of March 31, 2025 corresponds to a charge in equity amounted to Ch$22,281 million (charge to equity of Ch$12,397 million as of December 2024).

(c.5)

The effect of the cash flow hedging derivatives that offset the result of the hedged instruments corresponds to a charge to income of Ch$72,074 million during the period 2025 (credit to results for Ch$169,104 million during March 2024).

(c.6)

As of March 31, 2025 and 2024, there is not any inefficiency in the cash flow hedge, because both, hedged item and hedge instruments, are mirrors of each other, it means that all variation of value attributable to rate and revaluation components are netted totally.

(c.7)

As of March 31, 2025 and 2024, the Bank does not have hedges of net investments in foreign business.

13.

Financial assets at amortized cost:

The item detail is as follows:

	March			December
	2025			2024
	MCh$			MCh$

Rights from resale agreements and securities lending		99,283			87,291
Debt financial instruments		929,266			944,074
Loans and advances to Banks		1,699,865			666,815
Loans to customers:
Commercial loans		20,272,606			20,105,228
Residential mortgage loans		13,499,416			13,218,586
Consumer loans		5,548,313			5,551,306
Provisions established for credit risk (*)
Commercial loans provisions		(383,163	)		(380,295	)
Mortgage loans provisions		(39,804	)		(38,400	)
Consumer loans provisions		(399,366	)		(367,389	)
Total		41,226,416			39,787,216

(*)

In addition to these provisions for credit risk, country risk provisions are maintained to cover foreign operations and additional provisions agreed by the Board of Directors, which are presented in liabilities under the item Special provisions for credit risk (See Note No. 26).

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(a)

Rights from resale agreements and securities lending:

The Bank provides financing to its customers through resale agreements and securities lending, in which the financial instrument serves as collateral. As of March 31, 2025 and December 31, 2024, the detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$
Transaction with domestic banks		—		—

Transaction with foreign banks		—		—

Transaction with other domestic entities
Resale agreements		99,283		87,291
Rights from securities lending		—		—

Transaction with other foreign entities		—		—

Accumulated Impairment Value of Financial Assets at Amortized Cost - Rights from resale agreements and securities lending		—		—
Total		99,283		87,291

The Bank and its subsidiaries have received financial instruments that they can sell or give as collateral in case the owner of these instruments enters into default or in bankruptcy. As of March 31, 2025, the fair value of the instruments received amounts to Ch$102,326 million (Ch$87,157 million in December 2024).

(b)

Debt financial instruments:

At the end of each period, the balances presented under this item are as follows:

	March			December
	2025			2024
	MCh$			MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		—			—
Bonds and promissory notes from the General Treasury of the Republic		929,301			944,109
Other fiscal debt financial instruments		—			—

Other Finacial Instruments issued in Chile		—			—

Financial Instruments issued Abroad		—			—

Accumulated Impairment Value of Financial Assets at Amortized Cost Debt Financial Instruments
Financial assets with no significant increase in credit risk since initial recognition (phase 1)		(35	)		(35	)
Financial assets with a significant increase in credit risk since initial recognition, but without credit impairment (phase 2)		—			—
Financial assets with credit impairment (phase 3)		—			—
Total		929,266			944,074

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(c)

Loans and advances to Banks: At the end of each period, the balances presented under this item are as follows:

	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non-Complying Portfolio				Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio					Net
As of March 31, 2025	Individual Evaluation		Individual Evaluation		Individual Evaluation		Total		Individual Evaluation			Individual Evaluation		Individual Evaluation		Total			Financial Asset
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Domestic Banks
Interbank loans of liquidity		200,000		—		—		200,000		(72	)		—		—		(72	)		199,928
Interbank loans commercial		—		—		—		—		—			—		—		—			—
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		—		—		—		—		—			—		—		—			—
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Non-transferable deposits in domestic banks		—		—		—		—		—			—		—		—			—
Other debts with domestic banks		—		—		—		—		—			—		—		—			—
Foreign Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		262,217		—		—		262,217		(574	)		—		—		(574	)		261,643
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		138,548		—		—		138,548		(254	)		—		—		(254	)		138,294
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Current account deposits with foreign banks for derivatives transactions		—		—		—		—		—			—		—		—			—
Other non-transferable deposits with foreign banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Subtotal Domestic Bank and Foreign		600,765		—		—		600,765		(900	)		—		—		(900	)		599,865
Central Bank of Chile
Current account deposits for derivative transactions with a central counterparty		—		—		—		—		—			—		—		—			—
Other deposits not available		1,100,000		—		—		1,100,000		—			—		—		—			1,100,000
Other receivables		—		—		—		—		—			—		—		—			—
Foreign Central Banks
Current account deposits foreign for derivatives transactions		—		—		—		—		—			—		—		—			—
Other foreign deposits not available		—		—		—		—		—			—		—		—			—
Other foreign receivables		—		—		—		—		—			—		—		—			—
Subtotal Central Bank of Chile and Foreign Central Banks		1,100,000		—		—		1,100,000		—			—		—		—			1,100,000
Total		1,700,765		—		—		1,700,765		(900	)		—		—		(900	)		1,699,865

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(c)

Loans and advances to Banks, continued:

	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non-Complying Portfolio				Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio					Net
As of December 31, 2024	Individual Evaluation		Individual Evaluation		Individual Evaluation		Total		Individual Evaluation			Individual Evaluation		Individual Evaluation		Total			Financial Asset
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Domestic Banks
Interbank loans of liquidity		300,042		—		—		300,042		(154	)		—		—		(154	)		299,888
Interbank loans commercial		—		—		—		—		—			—		—		—			—
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		—		—		—		—		—			—		—		—			—
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Non-transferable deposits in domestic banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Foreign Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		269,191		—		—		269,191		(589	)		—		—		(589	)		268,602
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		98,470		—		—		98,470		(145	)		—		—		(145	)		98,325
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Current account deposits with foreign banks for derivatives transactions		—		—		—		—		—			—		—		—			—
Other non-transferable deposits with foreign banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Subtotal Domestic Bank and Foreign		667,703		—		—		667,703		(888	)		—		—		(888	)		666,815
Central Bank of Chile
Current account deposits for derivative transactions with a central counterparty		—		—		—		—		—			—		—		—			—
Other deposits not available		—		—		—		—		—			—		—		—			—
Other receivables		—		—		—		—		—			—		—		—			—
Foreign Central Banks
Current account deposits foreign for derivatives transactions		—		—		—		—		—			—		—		—			—
Other foreign deposits not available		—		—		—		—		—			—		—		—			—
Other foreign receivables		—		—		—		—		—			—		—		—			—
Subtotal Central Bank of Chile and Foreign Central Banks		—		—		—		—		—			—		—		—			—
Total		667,703		—		—		667,703		(888	)		—		—		(888	)		666,815

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(d)

Loans to Customers: At the end of each period, the balances presented under this item are as follows:

	Asstets before allowances												Allowances established
Loans to Customers	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						Normal Portfolio Evaluation						Substandard Portfolio Evaluation						Non-Complying Portfolio Evaluation						Deductible Warranties Fogape						Net Financial
As of March 31, 2025	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Sub Total			Covid-19			Total			Asset
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Commercial loans
Commercial loans		10,884,272		3,841,271		184,179		213,657		353,102		15,476,481		(97,549	)		(26,641	)		(2,207	)		(58,647	)		(75,922	)		(260,966	)		(2,568	)		(263,534	)		15,212,947
Chilean exports foreign trade loans		1,185,909		3,243		9,365		9,348		244		1,208,109		(26,923	)		(77	)		(736	)		(1,519	)		(132	)		(29,387	)		—			(29,387	)		1,178,722
Accrediting foreign trade loans negotiated in terms of Chilean imports		261		—		—		—		—		261		(23	)		—			—			—			—			(23	)		—			(23	)		238
Chilean imports foreign trade loans		473,797		43,832		6,755		3,118		2,558		530,060		(20,086	)		(1,188	)		(1,097	)		(2,252	)		(1,431	)		(26,054	)		—			(26,054	)		504,006
Foreign trade credits for operations with to third countries		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Current account debtors		82,719		88,920		5,095		4,094		2,098		182,926		(2,643	)		(2,128	)		(576	)		(2,055	)		(987	)		(8,389	)		—			(8,389	)		174,537
Credit card debtors		27,715		85,454		1,061		1,377		11,536		127,143		(1,155	)		(2,825	)		(157	)		(823	)		(6,305	)		(11,265	)		—			(11,265	)		115,878
Factoring transactions		627,434		35,809		7,301		98		46		670,688		(12,644	)		(771	)		(581	)		(4	)		(17	)		(14,017	)		—			(14,017	)		656,671
Commercial lease transactions (1)		1,630,611		293,701		31,540		37,849		14,199		2,007,900		(3,558	)		(1,749	)		(121	)		(10,541	)		(2,848	)		(18,817	)		(397	)		(19,214	)		1,988,686
Student loans		—		48,097		—		—		3,230		51,327		—			(2,142	)		—			—			(2,260	)		(4,402	)		—			(4,402	)		46,925
Other loans and accounts receivable		8,169		936		121		7,514		971		17,711		(252	)		(4	)		(18	)		(6,177	)		(427	)		(6,878	)		—			(6,878	)		10,833
Subtotal		14,920,887		4,441,263		245,417		277,055		387,984		20,272,606		(164,833	)		(37,525	)		(5,493	)		(82,018	)		(90,329	)		(380,198	)		(2,965	)		(383,163	)		19,889,443
Residential mortgage loans
Loans with letters of credit for mortgage		—		1,138		—		—		117		1,255		—			(3	)		—			—			(6	)		(9	)		—			(9	)		1,246
Endorsable mortgage loans		—		10,148		—		—		445		10,593		—			(8	)		—			—			(38	)		(46	)		—			(46	)		10,547
Loans with mutual funds financed by mortgage bonds		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Other residential lending		—		12,973,790		—		—		349,493		13,323,283		—			(16,053	)		—			—			(22,517	)		(38,570	)		—			(38,570	)		13,284,713
Residential lease transactions (1)		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Other loans and accounts receivable		—		153,897		—		—		10,388		164,285		—			(221	)		—			—			(958	)		(1,179	)		—			(1,179	)		163,106
Subtotal		—		13,138,973		—		—		360,443		13,499,416		—			(16,285	)		—			—			(23,519	)		(39,804	)		—			(39,804	)		13,459,612
Consumer loans
Consumer loans in installments		—		3,032,074		—		—		231,545		3,263,619		—			(141,748	)		—			—			(127,259	)		(269,007	)		—			(269,007	)		2,994,612
Current account debtors		—		269,614		—		—		13,008		282,622		—			(16,526	)		—			—			(7,483	)		(24,009	)		—			(24,009	)		258,613
Credit card debtors		—		1,971,857		—		—		28,761		2,000,618		—			(89,211	)		—			—			(16,570	)		(105,781	)		—			(105,781	)		1,894,837
Consumer lease transactions (1)		—		425		—		—		—		425		—			(6	)		—			—			—			(6	)		—			(6	)		419
Other loans and accounts receivable		—		4		—		—		1,025		1,029		—			(1	)		—			—			(562	)		(563	)		—			(563	)		466
Subtotal		—		5,273,974		—		—		274,339		5,548,313		—			(247,492	)		—			—			(151,874	)		(399,366	)		—			(399,366	)		5,148,947
Total		14,920,887		22,854,210		245,417		277,055		1,022,766		39,320,335		(164,833	)		(301,302	)		(5,493	)		(82,018	)		(265,722	)		(819,368	)		(2,965	)		(822,333	)		38,498,002

(1)

In this item, the Bank finances its clients the acquisition of movable and immovable property through financial lease agreements. As of March 31, 2025, Ch$983,534 million correspond to finance leases on real estate assets and Ch$1,024,791 million correspond to finance leases on movable property.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(d)

Loans to Customers, continued:

	Assets before allowances						Allowances established
Loans to Customers	Normal Portfolio Evaluation		Substandard Portfolio Evaluation	Non-Complying Portfolio Evaluation			Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation				Sub		Deductible Warranties Fogape				Net Financial
As of December 31, 2024	Individual	Group	Individual	Individual	Group	Total	Individual		Group		Individual		Individual		Group		Total		Covid-19		Total		Asset
	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Commercial loans
Commercial loans	10,512,364	3,835,557	194,728	219,467	350,892	15,113,008	(96,621	)	(25,815	)	(2,150	)	(62,373	)	(75,510	)	(262,469	)	(2,764	)	(265,233	)	14,847,775
Chilean exports foreign trade loans	1,428,828	3,006	7,008	10,473	395	1,449,710	(21,952	)	(79	)	(443	)	(1,783	)	(208	)	(24,465	)	—		(24,465	)	1,425,245
Accrediting foreign trade loans negotiated in terms of Chilean imports	162	—	—	—	—	162	(15	)	—		—		—		—		(15	)	—		(15	)	147
Chilean imports foreign trade loans	503,824	46,538	5,694	3,203	3,038	562,297	(21,019	)	(1,255	)	(799	)	(2,064	)	(1,722	)	(26,859	)	—		(26,859	)	535,438
Foreign trade credits for operations with to third countries	—	—	—	—	—	—	—		—		—		—		—		—		—		—		—
Current account debtors	97,422	87,836	5,269	4,051	2,241	196,819	(2,672	)	(2,102	)	(497	)	(2,102	)	(1,062	)	(8,435	)	—		(8,435	)	188,384
Credit card debtors	25,500	84,721	1,120	1,441	10,968	123,750	(1,061	)	(2,910	)	(157	)	(917	)	(5,999	)	(11,044	)	—		(11,044	)	112,706
Factoring transactions	555,766	36,830	4,114	27	175	596,912	(10,887	)	(787	)	(292	)	(25	)	(63	)	(12,054	)	—		(12,054	)	584,858
Commercial lease transactions (1)	1,614,628	296,248	28,243	37,964	13,941	1,991,024	(3,808	)	(2,086	)	(99	)	(10,831	)	(2,967	)	(19,791	)	(397	)	(20,188	)	1,970,836
Student loans	—	48,804	—	—	3,476	52,280	—		(2,148	)	—		—		(2,417	)	(4,565	)	—		(4,565	)	47,715
Other loans and accounts receivable	8,764	965	121	8,141	1,275	19,266	(300	)	(18	)	(11	)	(6,620	)	(488	)	(7,437	)	—		(7,437	)	11,829
Subtotal	14,747,258	4,440,505	246,297	284,767	386,401	20,105,228	(158,335	)	(37,200	)	(4,448	)	(86,715	)	(90,436	)	(377,134	)	(3,161	)	(380,295	)	19,724,933
Residential mortgage loans
Loans with letters of credit for mortgage	—	1,267	—	—	123	1,390	—		(2	)	—		—		(7	)	(9	)	—		(9	)	1,381
Endorsable mortgage loans	—	10,603	—	—	446	11,049	—		(7	)	—		—		(39	)	(46	)	—		(46	)	11,003
Loans with mutual funds financed by mortgage bonds	—	—	—	—	—	—	—		—		—		—		—		—		—		—		—
Other residential lending	—	12,714,211	—	—	327,154	13,041,365	—		(15,623	)	—		—		(21,520	)	(37,143	)	—		(37,143	)	13,004,222
Residential lease transactions (1)	—	—	—	—	—	—	—		—		—		—		—		—		—		—		—
Other loans and accounts receivable	—	154,542	—	—	10,240	164,782	—		(227	)	—		—		(975	)	(1,202	)	—		(1,202	)	163,580
Subtotal	—	12,880,623	—	—	337,963	13,218,586	—		(15,859	)	—		—		(22,541	)	(38,400	)	—		(38,400	)	13,180,186
Consumer loans
Consumer loans in installments	—	3,007,298	—	—	246,349	3,253,647	—		(137,888	)	—		—		(142,358	)	(280,246	)	—		(280,246	)	2,973,401
Current account debtors	—	270,268	—	—	13,657	283,925	—		(12,566	)	—		—		(5,433	)	(17,999	)	—		(17,999	)	265,926
Credit card debtors	—	1,981,073	—	—	30,976	2,012,049	—		(49,598	)	—		—		(18,229	)	(67,827	)	—		(67,827	)	1,944,222
Consumer lease transactions (1)	—	320	—	—	—	320	—		(4	)	—		—		—		(4	)	—		(4	)	316
Other loans and accounts receivable	—	4	—	—	1,361	1,365	—		(1	)	—		—		(1,312	)	(1,313	)	—		(1,313	)	52
Subtotal	—	5,258,963	—	—	292,343	5,551,306	—		(200,057	)	—		—		(167,332	)	(367,389	)	—		(367,389	)	5,183,917
Total	14,747,258	22,580,091	246,297	284,767	1,016,707	38,875,120	(158,335	)	(253,116	)	(4,448	)	(86,715	)	(280,309	)	(782,923	)	(3,161	)	(786,084	)	38,089,036

(1)

In this item, the Bank finances its clients the acquisition of movable and immovable property through financial lease agreements. As of December 31, 2024, Ch$992,848 million correspond to finance leases on real estate assets and Ch$998,496 million correspond to finance leases on movable property.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(e)

Contingent loan: At the close of each reporting period, the contingent credit risk exposure is as follows:

	Outstanding exposure before provisions						Provisions established												Net exposure
	Normal Portfolio Evaluation		Substandard Portfolio Evaluation	Non-Complying Portfolio Evaluation			Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						for credit risk of contingent
As of March 31, 2025	Individual	Group	Individual	Individual	Group	Total	Individual		Group		Individual		Individual		Group		Total		loans
	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Warranty by endorsement and sureties	356,504	622	573	—	—	357,699	(4,771	)	(6	)	(79	)	—		—		(4,856	)	352,843
Letters of credit for goods circulation operations	455,491	404	56	—	—	455,951	(1,229	)	(2	)	(2	)	—		—		(1,233	)	454,718
Commitments to purchase local currency debt abroad	—	—	—	—	—	—	—		—		—		—		—		—		—
Contingent event transactions	2,771,921	63,839	33,064	21,888	422	2,891,134	(30,470	)	(656	)	(2,810	)	(13,417	)	(169	)	(47,522	)	2,843,612
Undrawn credit lines with immediate termination	1,523,181	9,667,967	5,334	1,282	7,076	11,204,840	(2,908	)	(32,138	)	(66	)	(762	)	(3,927	)	(39,801	)	11,165,039
Undrawn credit lines	—	—	—	—	—	—	—		—		—		—		—		—		—
Other irrevocable loan commitments	40,764	—	—	—	—	40,764	(638	)	—		—		—		—		(638	)	40,126
Other contingent loans	—	—	—	—	—	—	—		—		—		—		—		—		—
Total	5,147,861	9,732,832	39,027	23,170	7,498	14,950,388	(40,016	)	(32,802	)	(2,957	)	(14,179	)	(4,096	)	(94,050	)	14,856,338

	Outstanding exposure before provisions						Provisions established												Net exposure
	Normal Portfolio Evaluation		Substandard Portfolio Evaluation	Non-Complying Portfolio Evaluation			Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						for credit risk of contingent
As of December 31, 2024	Individual	Group	Individual	Individual	Group	Total	Individual		Group		Individual		Individual		Group		Total		loans
	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Warranty by endorsement and sureties	335,420	705	597	15	—	336,737	(4,855	)	(8	)	(83	)	(10	)	—		(4,956	)	331,781
Letters of credit for goods circulation operations	441,899	240	77	—	—	442,216	(1,037	)	—		(2	)	—		—		(1,039	)	441,177
Commitments to purchase local currency debt abroad	—	—	—	—	—	—	—		—		—		—		—		—		—
Contingent event transactions	3,002,848	64,429	33,791	23,155	403	3,124,626	(30,827	)	(669	)	(2,736	)	(13,595	)	(153	)	(47,980	)	3,076,646
Undrawn credit lines with immediate termination	1,516,269	9,594,526	5,762	1,333	7,410	11,125,300	(2,916	)	(4,666	)	(73	)	(795	)	(3,539	)	(11,989	)	11,113,311
Undrawn credit lines	—	—	—	—	—	—	—		—		—		—		—		—		—
Other irrevocable loan commitments	51,889	—	—	—	—	51,889	(1,573	)	—		—		—		—		(1,573	)	50,316
Other contingent loans	—	—	—	—	—	—	—		—		—		—		—		—		—
Total	5,348,325	9,659,900	40,227	24,503	7,813	15,080,768	(41,208	)	(5,343	)	(2,894	)	(14,400	)	(3,692	)	(67,537	)	15,013,231

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions:

Summary of changes in due from banks provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Individual Evaluation
	Normal Portfolio		Substandard Portfolio	Non-Complying Portfolio	Total
	MCh$		MCh$	MCh$	MCh$
Loans and advances to Banks
Balance as of January 1, 2025	888		—	—	888
Allowances established/ released:
Change in measurement without portfolio reclassification during the period	7		—	—	7
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard	—		—	—	—
Transfer from Normal individual to Non-Complying individual	—		—	—	—
Transfer from Substandard to Non-Complying individual	—		—	—	—
Transfer from Substandard to Normal individual	—		—	—	—
Transfer from Non-Complying individual to Substandard	—		—	—	—
Transfer from Non-Complying individual to Normal individual	—		—	—	—
New credits originated	397		—	—	397
New credits for conversion of contingent to loan	—		—	—	—
New credits purchased	—		—	—	—
Sales or transfers of credits	—		—	—	—
Payment of credit	(495	)	—	—	(495	)
Provisions for write-offs	—		—	—	—
Recovery of written-off loans	—		—	—	—
Foreign exchange differences	(28	)	—	—	(28	)
Other changes in allowances	131		—	—	131
Balance as of March 31, 2025	900		—	—	900

	Changes in provisions constituted by portfolio in the year
	Individual Evaluation
	Normal Portfolio		Substandard Portfolio	Non-Complying Portfolio	Total
	MCh$		MCh$	MCh$	MCh$
Loans and advances to Banks
Balance as of January 1, 2024	751		—	—	751
Allowances established/ released:
Change in measurement without portfolio reclassification during the year	75		—	—	75
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard	—		—	—	—
Transfer from Normal individual to Non-Complying individual	—		—	—	—
Transfer from Substandard to Non-Complying individual	—		—	—	—
Transfer from Substandard to Normal individual	—		—	—	—
Transfer from Non-Complying individual to Substandard	—		—	—	—
Transfer from Non-Complying individual to Normal individual	—		—	—	—
New credits originated	1,606		—	—	1,606
New credits for conversion of contingent to loan	—		—	—	—
New credits purchased	—		—	—	—
Sales or transfers of credits	—		—	—	—
Payment of credit	(2,540	)	—	—	(2,540	)
Provisions for write-offs	—		—	—	—
Recovery of written-off loans	—		—	—	—
Foreign exchange differences	114		—	—	114
Other changes in allowances	882		—	—	882
Balance as of December 31, 2024	888		—	—	888

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions, continued:

Summary of changes in commercial loan provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation				Sub		Deductible Warranties FOGAPE
	Individual		Grupal		Individual		Individual		Grupal		total		Covid-19		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Commercial loans
Balance as of January 1, 2025	158,335		37,200		4,448		86,715		90,436		377,134		3,161		380,295
Provisions established/ released:
Change in measurement without portfolio reclassification during the period	(1,498	)	5,361		687		2,219		1,100		7,869		—		7,869
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard	(472	)	—		1,032		—		—		560		—		560
Transfer from Normal individual to Non-Complying individual	(51	)	—		—		269		—		218		—		218
Transfer from Substandard to Non-Complying individual	—		—		(514	)	1,389		—		875		—		875
Transfer from Substandard to Normal individual	97		—		(166	)	—		—		(69	)	—		(69	)
Transfer from Non-Complying individual to Substandard	—		—		1		(4	)	—		(3	)	—		(3	)
Transfer from Non-Complying individual to Normal individual	6		—		—		(61	)	—		(55	)	—		(55	)
Transfer from Normal group to Non-Complying group	—		(3,515	)	—		—		9,538		6,023		—		6,023
Transfer from Non-Complying group to Normal group	—		157		—		—		(2,733	)	(2,576	)	—		(2,576	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying)	—		—		—		—		—		—		—		—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)	183		(161	)	6		—		—		28		—		28
New credits originated	66,396		6,344		1,810		704		3,938		79,192		—		79,192
New credits for conversion of contingent to loan	3,204		2,592		309		371		325		6,801		—		6,801
New credits purchased	—		—		—		—		—		—		—		—
Sales or transfers of credits	—		—		—		—		—		—		—		—
Payment of credit	(58,864	)	(10,458	)	(2,047	)	(4,857	)	(6,049	)	(82,275	)	—		(82,275	)
Provisions for write-offs	—		—		—		(4,181	)	(6,142	)	(10,323	)	—		(10,323	)
Recovery of written-off loans	—		61		—		—		—		61		—		61
Changes to models and assumptions	—		—		—		—		—		—		—		—
Foreign exchange differences	(2,503	)	(56	)	(73	)	(546	)	(84	)	(3,262	)	—		(3,262	)
Other changes in allowances	—		—		—		—		—		—		(196	)	(196	)
Balance as of March 31, 2025	164,833		37,525		5,493		82,018		90,329		380,198		2,965		383,163

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions, continued:

	Changes in provisions constituted by portfolio in the year
	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation				Sub		Deductible Warranties FOGAPE
	Individual		Grupal		Individual		Individual		Grupal		total		Covid-19		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Commercial loans
Balance as of January 1, 2024	148,685		36,590		9,317		74,645		87,837		357,074		9,131		366,205
Provisions established/ released:
Change in measurement without portfolio reclassification during the year	12,273		23,728		2,975		30,966		9,947		79,889		—		79,889
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard	(2,926	)	—		4,955		—		—		2,029		—		2,029
Transfer from Normal individual to Non-Complying individual	(311	)	—		—		2,348		—		2,037		—		2,037
Transfer from Substandard to Non-Complying individual	—		—		(6,562	)	17,295		—		10,733		—		10,733
Transfer from Substandard to Normal individual	438		—		(676	)	—		—		(238	)	—		(238	)
Transfer from Non-Complying individual to Substandard	—		—		279		(2,159	)	—		(1,880	)	—		(1,880	)
Transfer from Non-Complying individual to Normal individual	5		—		—		(34	)	—		(29	)	—		(29	)
Transfer from Normal group to Non-Complying group	—		(16,109	)	—		—		43,775		27,666		—		27,666
Transfer from Non-Complying group to Normal group	—		646		—		—		(9,551	)	(8,905	)	—		(8,905	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying)	—		—		—		—		—		—		—		—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)	677		(958	)	343		223		(146	)	139		—		139
New credits originated	225,544		24,756		5,359		19,371		16,253		291,283		—		291,283
New credits for conversion of contingent to loan	13,527		9,197		1,178		2,067		1,090		27,059		—		27,059
New credits purchased	—		—		—		—		—		—		—		—
Sales or transfers of credits	(46	)	(163	)	—		(240	)	—		(449	)	—		(449	)
Payment of credit	(247,038	)	(40,754	)	(12,902	)	(34,187	)	(30,359	)	(365,240	)	—		(365,240	)
Provisions for write-offs	—		—		—		(25,666	)	(28,663	)	(54,329	)	—		(54,329	)
Recovery of written-off loans	—		87		—		—		—		87		—		87
Changes to models and assumptions	—		—		—		—		—		—		—		—
Foreign exchange differences	7,507		180		182		2,086		253		10,208		—		10,208
Other changes in allowances	—		—		—		—		—		—		(5,970	)	(5,970	)
Balance as of December 31, 2024	158,335		37,200		4,448		86,715		90,436		377,134		3,161		380,295

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions, continued:

Summary of changes in residential mortgage loan provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Group Evaluation
	Normal Portfolio		Non-Complying Portfolio		Total
	MCh$		MCh$		MCh$
Residential mortgage loans
Balance as of January 1, 2025	15,859		22,541		38,400
Allowances established/ released:
Change in measurement without portfolio reclassification during the period	1,350		213		1,563
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group	(1,214	)	2,713		1,499
Transfer from Non-Complying group to Normal group	128		(541	)	(413	)
New credits originated	364		10		374
New credits purchased	—		—		—
Sales or transfers of credits	—		—		—
Payment of credit	(202	)	(1,246	)	(1,448	)
Provisions for write-offs	—		(171	)	(171	)
Recovery of written-off loans	—		—		—
Changes to models and assumptions	—		—		—
Foreign exchange differences	—		—		—
Other changes in allowances	—		—		—
Balance as of March 31, 2025	16,285		23,519		39,804

	Changes in provisions constituted by portfolio in the year
	Group Evaluation
	Normal Portfolio		Non-Complying Portfolio		Total
	MCh$		MCh$		MCh$
Residential mortgage loans
Balance as of January 1, 2024	16,188		17,818		34,006
Allowances established/ released:
Change in measurement without portfolio reclassification during the year	3,314		1,846		5,160
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group	(4,346	)	9,780		5,434
Transfer from Non-Complying group to Normal group	442		(1,819	)	(1,377	)
New credits originated	1,505		192		1,697
New credits purchased	—		—		—
Sales or transfers of credits	—		—		—
Payment of credit	(1,244	)	(4,632	)	(5,876	)
Provisions for write-offs	—		(644	)	(644	)
Recovery of written-off loans	—		—		—
Changes to models and assumptions	—		—		—
Foreign exchange differences	—		—		—
Other changes in allowances	—		—		—
Balance as of December 31, 2024	15,859		22,541		38,400

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions, continued:

Summary of changes in consumer loan provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
	MCh$			MCh$			MCh$
Consumer loans
Balance as of January 1, 2025		200,057			167,332			367,389
Allowances established/ released:
Change in measurement without portfolio reclassification during the period		23,214			13,353			36,567
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(31,890	)		39,269			7,379
Transfer from Non-Complying group to Normal group		1,517			(9,578	)		(8,061	)
New credits originated		20,967			22,117			43,084
New credits for conversion of contingent to loan		51,883			391			52,274
New credits purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(62,449	)		(23,540	)		(85,989	)
Provisions for write-offs		—			(50,141	)		(50,141	)
Recovery of written-off loans		293			—			293
Changes to models and assumptions		43,987			(7,328	)		36,659
Foreign exchange differences		(87	)		(1	)		(88	)
Other changes in allowances		—			—			—
Balance as of March 31, 2025		247,492			151,874			399,366

	Changes in provisions constituted by portfolio in the year
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
	MCh$			MCh$			MCh$
Consumer loans
Balance as of January 1, 2024		214,873			153,884			368,757
Allowances established/ released:
Change in measurement without portfolio reclassification during the year		169,484			78,923			248,407
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(129,215	)		167,500			38,285
Transfer from Non-Complying group to Normal group		15,115			(38,102	)		(22,987	)
New credits originated		92,911			78,148			171,059
New credits for conversion of contingent to loan		79,922			2,539			82,461
New credits purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(245,469	)		(65,987	)		(311,456	)
Provisions for write-offs		—			(209,577	)		(209,577	)
Recovery of written-off loans		2,310			—			2,310
Changes to models and assumptions		—			—			—
Foreign exchange differences		126			4			130
Other changes in allowances		—			—			—
Balance as of December 31, 2024		200,057			167,332			367,389

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(f)

Provisions, continued:

Summary of changes in contingent credit risk provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation
	Individual			Group			Individual			Individual			Group			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Contingent loan exposure
Balance as of January 1, 2025		41,208			5,343			2,894			14,400			3,692			67,537
Provisions established/ released:
Change in measurement without portfolio reclassification during the period		1,273			3,299			94			488			484			5,638
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(12	)		—			27			—			—			15
Transfer from Normal individual to Non-Complying individual		—			—			—			21			—			21
Transfer from Substandard to Non-Complying individual		—			—			(3	)		52			—			49
Transfer from Substandard to Normal individual		4			—			(6	)		—			—			(2	)
Transfer from Non-Complying individual to Substandard		—			—			—			(17	)		—			(17	)
Transfer from Non-Complying individual to Normal individual		—			—			—			(18	)		—			(18	)
Transfer from Normal group to Non-Complying group		—			(63	)		—			—			727			664
Transfer from Non-Complying group to Normal group		—			6			—			—			(396	)		(390	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying )		—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		7			(8	)		—			—			—			(1	)
New contingent loan granted		8,925			684			1,331			24			67			11,031
Contingent credits for conversion		(403	)		3,637			(33	)		(334	)		(386	)		2,481
Changes to models and assumptions		—			27,208			—			—			531			27,739
Foreign exchange differences		(296	)		(348	)		(4	)		(9	)		(62	)		(719	)
Other changes in provisions		(10,690	)		(6,956	)		(1,343	)		(428	)		(561	)		(19,978	)
Balance as of March 31, 2025		40,016			32,802			2,957			14,179			4,096			94,050

	Changes in provisions constituted by portfolio in the year
	Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation
	Individual			Group			Individual			Individual			Group			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Contingent loan exposure
Balance as of January 1, 2024		42,022			4,967			4,017			6,102			4,119			61,227
Provisions established/ released:
Change in measurement without portfolio reclassification during the year		9,096			4,119			178			3,755			2,566			19,714
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(173	)		—			279			—			—			106
Transfer from Normal individual to Non-Complying individual		(6	)		—			—			65			—			59
Transfer from Substandard to Non-Complying individual		—			—			(1,086	)		9,064			—			7,978
Transfer from Substandard to Normal individual		65			—			(107	)		—			—			(42	)
Transfer from Non-Complying individual to Substandard		—			—			5			(74	)		—			(69	)
Transfer from Non-Complying individual to Normal individual		—			—			—			(9	)		—			(9	)
Transfer from Normal group to Non-Complying group		—			(125	)		—			—			3,303			3,178
Transfer from Non-Complying group to Normal group		—			3			—			—			(2,647	)		(2,644	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying )		—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		64			(48	)		5			4			(17	)		8
New contingent loan granted		35,457			1,687			13,543			559			534			51,780
Contingent credits for conversion		(1,382	)		(3,100	)		(135	)		(1,220	)		(1,436	)		(7,273	)
Changes to models and assumptions		—			—			—			—			—			—
Foreign exchange differences		971			226			13			27			190			1,427
Other changes in provisions		(44,906	)		(2,386	)		(13,818	)		(3,873	)		(2,920	)		(67,903	)
Balance as of December 31, 2024		41,208			5,343			2,894			14,400			3,692			67,537

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

Industry sector:

At the closing of each reporting period, the composition of economic activity for loans, contingent loans exposure and provisions constituted are as follows:

	Credit and Contingent loans Exposure												Allowances Established
	Domestic loans				Foreign loans				Total		Total		Domestic loans						Foreign loans						Total			Total
	March		December		March		December		March		December		March			December			March			December			March			December
	2025		2024		2025		2024		2025		2024		2025			2024			2025			2024			2025			2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks	1,300,000		300,042		400,765		367,661		1,700,765		667,703		(72)			(154)			(828)			(734)			(900)			(888)

Commercial loans
Agriculture and livestock		735,947		750,478		—		—		735,947		750,478		(12,301	)		(13,556	)		—			—			(12,301	)		(13,556	)
Fruit		743,708		729,645		—		—		743,708		729,645		(11,572	)		(11,755	)		—			—			(11,572	)		(11,755	)
Forestry		89,122		89,520		—		—		89,122		89,520		(4,055	)		(4,100	)		—			—			(4,055	)		(4,100	)
Fishing		28,661		29,364		—		—		28,661		29,364		(2,861	)		(2,890	)		—			—			(2,861	)		(2,890	)
Mining		579,107		864,692		—		—		579,107		864,692		(2,781	)		(4,781	)		—			—			(2,781	)		(4,781	)
Oil and natural gas		607		211		—		—		607		211		(7	)		(8	)		—			—			(7	)		(8	)
Product manufacturing industries;
Foods, beverages and tobacco		778,991		656,889		—		—		778,991		656,889		(13,634	)		(11,773	)		—			—			(13,634	)		(11,773	)
Textiles, leather goods and footwear		27,187		28,712		—		—		27,187		28,712		(827	)		(910	)		—			—			(827	)		(910	)
Woods and furnitures		88,132		89,196		—		—		88,132		89,196		(2,348	)		(2,479	)		—			—			(2,348	)		(2,479	)
Cellulose, Paper and printing		13,191		15,838		—		—		13,191		15,838		(318	)		(442	)		—			—			(318	)		(442	)
Chemicals and petroleum products		309,908		321,593		—		—		309,908		321,593		(7,179	)		(7,422	)		—			—			(7,179	)		(7,422	)
Metal, non-metal, machine or others		484,575		481,778		—		—		484,575		481,778		(12,575	)		(10,848	)		—			—			(12,575	)		(10,848	)
Electricity, gas and water		202,959		241,941		105,896		104,988		308,855		346,929		(2,933	)		(3,078	)		(147	)		(149	)		(3,080	)		(3,227	)
Residential construction		179,018		193,923		—		—		179,018		193,923		(5,455	)		(5,608	)		—						(5,455	)		(5,608	)
Non-residential construction (office, civil engineering)		483,905		481,437		—		—		483,905		481,437		(10,986	)		(10,462	)		—			—			(10,986	)		(10,462	)
Wholesale		1,472,056		1,578,109		—		—		1,472,056		1,578,109		(49,236	)		(47,598	)		—			—			(49,236	)		(47,598	)
Retail, restaurants and hotels		1,078,282		1,038,501		—		—		1,078,282		1,038,501		(44,240	)		(41,042	)		—			—			(44,240	)		(41,042	)
Transport and storage		1,046,084		1,033,066		—		—		1,046,084		1,033,066		(26,042	)		(28,039	)		—			—			(26,042	)		(28,039	)
Communications		221,763		213,992		—		—		221,763		213,992		(3,357	)		(3,015	)		—			—			(3,357	)		(3,015	)
Financial services		2,948,267		2,994,709		—		—		2,948,267		2,994,709		(25,849	)		(27,470	)		—			—			(25,849	)		(27,470	)
Business services		2,339,637		1,965,847		—		—		2,339,637		1,965,847		(54,507	)		(53,499	)		—			—			(54,507	)		(53,499	)
Real estate services		3,447,261		3,345,600		12,695		14,882		3,459,956		3,360,482		(24,046	)		(23,908	)		(417	)		(819	)		(24,463	)		(24,727	)
Student loans		51,326		52,280		—		—		51,326		52,280		(4,402	)		(4,564	)		—			—			(4,402	)		(4,564	)
Government administration, defence and police force		27,523		16,882		—		—		27,523		16,882		(230	)		(207	)		—			—			(230	)		(207	)
Social services and other community services		906,131		898,419		—		—		906,131		898,419		(17,992	)		(16,821	)		—			—			(17,992	)		(16,821	)
Personal services		1,870,667		1,872,736		—		—		1,870,667		1,872,736		(42,866	)		(43,052	)		—			—			(42,866	)		(43,052	)
Subtotal		20,154,015		19,985,358		118,591		119,870		20,272,606		20,105,228		(382,599	)		(379,327	)		(564	)		(968	)		(383,163	)		(380,295	)

Residential mortgage loans		13,499,416		13,218,586		—		—		13,499,416		13,218,586		(39,804	)		(38,400	)		—			—			(39,804	)		(38,400	)
Consumer loans		5,548,313		5,551,306		—		—		5,548,313		5,551,306		(399,366	)		(367,389	)		—			—			(399,366	)		(367,389	)
Contingent loan exposure		14,950,388		15,080,768		—		—		14,950,388		15,080,768		(94,050	)		(67,537	)		—			—			(94,050	)		(67,537	)

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(h)

Residential mortgage loans and its provisions established by insolvent tranche of the loan on the value of the mortgage guarantee (PVG) and days of default respectively:

As of March 31, 2025

	Residential mortgage loans (MCh$)												Allowances established of Residential mortgage loans (MCh$)
	Days in default at the end of the period												Days in default at the end of the period
Loan Tranche / Guarantee Value (%)	0		1 to 29		30 to 59		60 to 89		> = 90		Total		0			1 to 29			30 to 59			60 to 89			> = 90			Total
PVG <=40%		1,994,503		35,223		16,601		7,774		19,410		2,073,511		(1,523	)		(507	)		(454	)		(260	)		(1,081	)		(3,825	)
40% < PVG <= 80%		9,719,337		213,342		114,667		42,735		164,176		10,254,257		(11,265	)		(3,711	)		(3,597	)		(1,788	)		(9,778	)		(30,139	)
80% < PVG <= 90%		645,438		10,866		4,080		1,588		7,367		669,339		(1,627	)		(313	)		(292	)		(145	)		(1,212	)		(3,589	)
PVG > 90%		496,386		2,068		652		142		3,061		502,309		(1,372	)		(116	)		(36	)		(24	)		(703	)		(2,251	)
Total		12,855,664		261,499		136,000		52,239		194,014		13,499,416		(15,787	)		(4,647	)		(4,379	)		(2,217	)		(12,774	)		(39,804	)

As of December 31, 2024

	Residential mortgage loans (MCh$)												Allowances established of Residential mortgage loans (MCh$)
	Days in default at the end of the year												Days in default at the end of the year
Loan Tranche / Guarantee Value (%)	0		1 to 29		30 to 59		60 to 89		> = 90		Total		0			1 to 29			30 to 59			60 to 89			> = 90			Total
PVG <=40%		1,936,055		32,620		15,536		6,165		17,148		2,007,524		(1,404	)		(480	)		(427	)		(226	)		(964	)		(3,501	)
40% < PVG <= 80%		9,566,995		232,095		106,604		46,471		147,162		10,099,327		(10,565	)		(4,022	)		(3,335	)		(1,893	)		(8,749	)		(28,564	)
80% < PVG <= 90%		623,624		10,068		3,846		1,801		7,690		647,029		(1,650	)		(352	)		(309	)		(184	)		(1,279	)		(3,774	)
PVG > 90%		457,769		1,442		442		591		4,462		464,706		(1,432	)		(62	)		(37	)		(51	)		(979	)		(2,561	)
Total		12,584,443		276,225		126,428		55,028		176,462		13,218,586		(15,051	)		(4,916	)		(4,108	)		(2,354	)		(11,971	)		(38,400	)

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(i)

Loans and advances to Banks and Commercial loans and their allowances established by classification category:

Below is the concentration of loans and advances to banks and commercial loans and their provisions constituted by classification category:

	Individual																																																		Group												Provisions of deductible
	Normal Portfolio																					Substandard Portfolio															Non-Complying Portfolio																								Portfolio			Portfolio Non-									warranties Fogape
As of March 31, 2025	A1			A2			A3			A4			A5			A6			Subtotal			B1			B2			B3			B4			Subtotal			C1			C2			C3			C4			C5			C6			Subtotal			Total			Normal			Complying			Total			Total			Covid 19
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
Interbank loans for liquidity		200,000			—			—			—			—			—			200,000			—			—			—			—			—			—			—			—			—			—			—			—			200,000			—			—			—			200,000			—
Interbank commercial loans		—			—			262,217			—			—			—			262,217			—			—			—			—			—			—			—			—			—			—			—			—			262,217			—			—			—			262,217			—
Current accounts overdrafts		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Chilean exports foreign trade loans		21,334			60,840			51,599			4,775			—			—			138,548			—			—			—			—			—			—			—			—			—			—			—			—			138,548			—			—			—			138,548			—
Chilean imports foreign trade loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Foreign trade loans between third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account deposits in foreign banks for derivative operations		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other non-transferable deposits in banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other debts with banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Subtotal		221,334			60,840			313,816			4,775			—			—			600,765			—			—			—			—			—			—			—			—			—			—			—			—			600,765			—			—			—			600,765			—
Allowances established		80			50			686			84			—			—			900			—			—			—			—			—			—			—			—			—			—			—			—			900			—			—			—			900			—
% Allowances established		0.04	%		0.08	%		0.22	%		1.76	%		—			—			0.15	%		—			—			—			—			—			—			—			—			—			—			—			—			0.15	%		—			—			—			0.15	%		—

Commercial loans
Commercial loans		—			1,210,630			1,691,833			2,105,435			3,602,342			2,274,032			10,884,272			92,171			47,496			36,209			8,303			184,179			85,046			39,682			12,255			32,250			11,870			32,554			213,657			11,282,108			3,841,271			353,102			4,194,373			15,476,481			2,568
Chilean exports foreign trade loans		—			212,219			300,012			205,720			269,151			198,807			1,185,909			6,279			3,086			—			—			9,365			7,592			—			—			427			—			1,329			9,348			1,204,622			3,243			244			3,487			1,208,109			—
Accrediting foreign trade loans negotiated in terms of Chilean imports		—			—			—			—			—			261			261			—			—			—			—			—			—			—			—			—			—			—			—			261			—			—			—			261			—
Chilean imports foreign trade loans		—			4,471			40,614			96,475			170,090			162,147			473,797			5,256			462			1,037			—			6,755			26			—			—			135			1,856			1,101			3,118			483,670			43,832			2,558			46,390			530,060			—
Foreign trade credits to third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account debtors		—			5			1,696			36,625			21,645			22,748			82,719			3,173			1,127			597			198			5,095			583			98			1,070			613			145			1,585			4,094			91,908			88,920			2,098			91,018			182,926			—
Credit card debtors		—			450			1,596			4,040			10,950			10,679			27,715			675			278			95			13			1,061			260			82			60			77			175			723			1,377			30,153			85,454			11,536			96,990			127,143			—
Factoring transactions		3,556			174,258			120,994			36,182			193,752			98,692			627,434			7,127			75			99			—			7,301			78			20			—			—			—			—			98			634,833			35,809			46			35,855			670,688			—
Commercial lease transactions		—			47,716			81,421			318,610			663,574			519,290			1,630,611			18,680			8,433			3,263			1,164			31,540			4,930			5,132			13,938			10,900			2,277			672			37,849			1,700,000			293,701			14,199			307,900			2,007,900			397
Student loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			48,097			3,230			51,327			51,327			—
Other loans and accounts receivable		—			407			1,798			1,172			2,556			2,236			8,169			49			70			2			—			121			223			10			121			212			787			6,161			7,514			15,804			936			971			1,907			17,711			—
Subtotal		3,556			1,650,156			2,239,964			2,804,259			4,934,060			3,288,892			14,920,887			133,410			61,027			41,302			9,678			245,417			98,738			45,024			27,444			44,614			17,110			44,125			277,055			15,443,359			4,441,263			387,984			4,829,247			20,272,606			—
Allowances established		1			1,090			3,498			24,947			55,063			80,234			164,833			3,514			680			840			459			5,493			1,975			4,502			6,861			17,846			11,121			39,713			82,018			252,344			37,525			90,329			127,854			380,198			2,965
% Allowances established		0.03	%		0.07	%		0.16	%		0.89	%		1.12	%		2.44	%		1.10	%		2.63	%		1.11	%		2.03	%		4.74	%		2.24	%		2.00	%		10.00	%		25.00	%		40.00	%		65.00	%		90.00	%		29.60	%		1.63	%		0.84	%		23.28	%		2.65	%		1.88	%		—

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(i)

Loans and advances to Banks and Commercial loans and their allowances established by classification category, continued:

	Individual																																																	Group													Provision of
	Normal Portfolio																					Substandard Portfolio															Non-Complying Portfolio																																				deductible
As of December 31, 2024	A1			A2			A3			A4			A5			A6			Subtotal			B1			B2			B3			B4			Subtotal			C1			C2			C3			C4			C5			C6			Subtotal			Total			Portfolio Normal			Portfolio Non- Complying			Total			Total			warranties Fogape Covid 19
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
Interbank loans for liquidity		200,028			100,014			—			—			—			—			300,042			—			—			—			—			—			—			—			—			—			—			—			—			300,042			—			—			—			300,042			—
Interbank commercial loans		—			—			269,191			—			—			—			269,191			—			—			—			—			—			—			—			—			—			—			—			—			269,191			—			—			—			269,191			—
Current accounts overdrafts		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Chilean exports foreign trade loans		14,614			32,260			51,596			—			—			—			98,470			—			—			—			—			—			—			—			—			—			—			—			—			98,470			—			—			—			98,470			—
Chilean imports foreign trade loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Foreign trade loans between third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account deposits in foreign banks for derivative operations		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other non-transferable deposits in banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other debts with banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Subtotal		214,642			132,274			320,787			—			—			—			667,703			—			—			—			—			—			—			—			—			—			—			—			—			667,703			—			—			—			667,703			—
Allowances established		77			109			702			—			—			—			888			—			—			—			—			—			—			—			—			—			—			—			—			888			—			—			—			888			—
% Allowances established		0.04	%		0.08	%		0.22	%		—			—			—			0.13	%		—			—			—			—			—			—			—			—			—			—			—			—			0.13	%		—			—			—			0.13	%		—

Commercial loans
Commercial loans		—			978,748			1,683,111			2,093,769			3,504,563			2,252,173			10,512,364			98,731			51,153			35,812			9,032			194,728			86,932			37,379			12,894			34,843			11,763			35,656			219,467			10,926,559			3,835,557			350,892			4,186,449			15,113,008			2,764
Chilean exports foreign trade loans		—			563,237			298,742			198,222			209,936			158,691			1,428,828			4,414			2,594			—			—			7,008			8,494			—			—			334			—			1,645			10,473			1,446,309			3,006			395			3,401			1,449,710			—
Accrediting foreign trade loans negotiated in terms of Chilean imports		—			—			—			—			—			162			162			—			—			—			—			—			—			—			—			—			—			—			—			162			—			—			—			162			—
Chilean imports foreign trade loans		—			10,607			47,176			98,073			178,454			169,514			503,824			5,419			275			—			—			5,694			384			—			—			141			1,640			1,038			3,203			512,721			46,538			3,038			49,576			562,297			—
Foreign trade credits to third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account debtors		—			12			24,388			31,693			19,000			22,329			97,422			3,033			1,124			923			189			5,269			513			86			1,061			593			151			1,647			4,051			106,742			87,836			2,241			90,077			196,819			—
Credit card debtors		—			294			1,291			3,936			10,178			9,801			25,500			664			332			112			12			1,120			235			70			49			74			196			817			1,441			28,061			84,721			10,968			95,689			123,750			—
Factoring transactions		2,081			159,861			108,439			29,667			163,282			92,436			555,766			4,041			73			—			—			4,114			—			—			—			—			—			27			27			559,907			36,830			175			37,005			596,912			—
Commercial lease transactions		—			49,621			77,816			334,046			636,573			516,572			1,614,628			16,016			10,619			1,184			424			28,243			4,621			4,616			14,387			11,241			2,419			680			37,964			1,680,835			296,248			13,941			310,189			1,991,024			397
Student loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			48,804			3,476			52,280			52,280			—
Other loans and accounts receivable		—			479			1,649			1,352			2,651			2,633			8,764			66			51			4			—			121			237			12			181			347			786			6,578			8,141			17,026			965			1,275			2,240			19,266			—
Subtotal		2,081			1,762,859			2,242,612			2,790,758			4,724,637			3,224,311			14,747,258			132,384			66,221			38,035			9,657			246,297			101,416			42,163			28,572			47,573			16,955			48,088			284,767			15,278,322			4,440,505			386,401			4,826,906			20,105,228			—
Allowances established		1			1,188			3,494			24,871			51,771			77,010			158,335			2,865			639			428			516			4,448			2,028			4,216			7,143			19,029			11,020			43,279			86,715			249,498			37,200			90,436			127,636			377,134			3,161
% Allowances established		0.05	%		0.07	%		0.16	%		0.89	%		1.10	%		2.39	%		1.07	%		2.16	%		0.96	%		1.13	%		5.34	%		1.81	%		2.00	%		10.00	%		25.00	%		40.00	%		65.00	%		90.00	%		30.45	%		1.63	%		0.84	%		23.40	%		2.64	%		1.88	%		—

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(j)

Loans and their provisions for loan losses by tranches of days past-due:

The concentration of credit risk by days past due is as follows;

	Financial assets before allowances												Allowances established
	Normal Portfolio				Substandard Portfolio		Non-Complying Portfolio						Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties						Net
	Evaluation				Evaluation		Evaluation				Sub		Evaluation						Evaluation			Evaluation						Sub			FOGAPE						Financial
As of March 31, 2025	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			Covid-19			Total			Assets
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
0 days		477,410		—		—		—		—		477,410		(732	)		—			—			—			—			(732	)		—			(732	)
1 to 29 days		123,355		—		—		—		—		123,355		(168	)		—			—			—			—			(168	)		—			(168	)
30 to 59 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
60 to 89 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
> = 90 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
Subtotal		600,765		—		—		—		—		600,765		(900	)		—			—			—			—			(900	)		—			(900	)		599,865

Commercial loans
0 days		14,727,986		4,235,343		205,145		153,285		100,144		19,421,903		(162,443	)		(28,688	)		(4,715	)		(44,199	)		(18,827	)		(258,872	)		(2,868	)		(261,740	)
1 to 29 days		188,357		143,118		24,178		13,609		36,292		405,554		(2,274	)		(4,402	)		(525	)		(1,187	)		(6,892	)		(15,280	)		(42	)		(15,322	)
30 to 59 days		4,203		45,821		10,936		17,731		34,742		113,433		(86	)		(2,870	)		(129	)		(2,878	)		(6,201	)		(12,164	)		(25	)		(12,189	)
60 to 89 days		341		16,981		5,153		5,186		22,636		50,297		(30	)		(1,565	)		(124	)		(1,496	)		(4,412	)		(7,627	)		—			(7,627	)
> = 90 days		—		—		5		87,244		194,170		281,419		—			—			—			(32,258	)		(53,997	)		(86,255	)		(30	)		(86,285	)
Subtotal		14,920,887		4,441,263		245,417		277,055		387,984		20,272,606		(164,833	)		(37,525	)		(5,493	)		(82,018	)		(90,329	)		(380,198	)		(2,965	)		(383,163	)		19,889,443

Residential mortgage loans
0 days		—		12,786,098		—		—		69,566		12,855,664		—			(11,090	)		—			—			(4,697	)		(15,787	)		—			(15,787	)
1 to 29 days		—		228,071		—		—		33,428		261,499		—			(2,557	)		—			—			(2,090	)		(4,647	)		—			(4,647	)
30 to 59 days		—		95,782		—		—		40,218		136,000		—			(1,838	)		—			—			(2,541	)		(4,379	)		—			(4,379	)
60 to 89 days		—		29,022		—		—		23,217		52,239		—			(800	)		—			—			(1,417	)		(2,217	)		—			(2,217	)
> = 90 days		—		—		—		—		194,014		194,014		—			—			—			—			(12,774	)		(12,774	)		—			(12,774	)
Subtotal		—		13,138,973		—		—		360,443		13,499,416		—			(16,285	)		—			—			(23,519	)		(39,804	)		—			(39,804	)		13,459,612

Consumer loans
0 days		—		5,020,289		—		—		87,678		5,107,967		—			(188,792	)		—			—			(48,104	)		(236,896	)		—			(236,896	)
1 to 29 days		—		169,462		—		—		31,943		201,405		—			(25,813	)		—			—			(17,766	)		(43,579	)		—			(43,579	)
30 to 59 days		—		58,377		—		—		38,084		96,461		—			(20,757	)		—			—			(20,897	)		(41,654	)		—			(41,654	)
60 a 89 days		—		25,846		—		—		21,506		47,352		—			(12,130	)		—			—			(12,006	)		(24,136	)		—			(24,136	)
> = 90 days		—				—		—		95,128		95,128		—			—			—			—			(53,101	)		(53,101	)		—			(53,101	)
Subtotal		—		5,273,974		—		—		274,339		5,548,313		—			(247,492	)		—			—			(151,874	)		(399,366	)		—			(399,366	)		5,148,947

Total Loans		15,521,652		22,854,210		245,417		277,055		1,022,766		39,921,100		(165,733	)		(301,302	)		(5,493	)		(82,018	)		(265,722	)		(820,268	)		(2,965	)		(823,233	)		39,097,867

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(j)

Loans and their provisions for loan losses by number of days past-due, continued:

	Financial assets before allowances												Allowances established
	Normal Portfolio				Substandard Portfolio		Non-Complying Portfolio						Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties						Net
	Evaluation				Evaluation		Evaluation				Sub		Evaluation						Evaluation			Evaluation Sub									FOGAPE						Financial
As of December 31, 2024	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			Covid-19			Total			Assets
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
0 days		596,974		—		—		—		—		596,974		(800	)		—			—			—			—			(800	)		—			(800	)
1 to 29 days		70,729		—		—		—		—		70,729		(88	)		—			—			—			—			(88	)		—			(88	)
30 to 59 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
60 to 89 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
> = 90 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
Subtotal		667,703		—		—		—		—		667,703		(888	)		—			—			—			—			(888	)		—			(888	)		666,815

Commercial loans
0 days		14,515,547		4,237,304		212,286		145,211		103,514		19,213,862		(155,358	)		(28,184	)		(3,855	)		(35,615	)		(18,814	)		(241,826	)		(3,064	)		(244,890	)
1 to 29 days		218,097		147,190		22,083		18,360		36,055		441,785		(2,811	)		(4,691	)		(382	)		(3,257	)		(7,207	)		(18,348	)		(56	)		(18,404	)
30 to 59 days		13,549		43,058		9,856		22,310		34,271		123,044		(165	)		(2,900	)		(156	)		(11,012	)		(6,468	)		(20,701	)		—			(20,701	)
60 to 89 days		65		12,953		2,072		8,749		20,850		44,689		(1	)		(1,425	)		(55	)		(1,461	)		(4,362	)		(7,304	)		(2	)		(7,306	)
> = 90 days		—		—		—		90,137		191,711		281,848		—			—			—			(35,370	)		(53,585	)		(88,955	)		(39	)		(88,994	)
Subtotal		14,747,258		4,440,505		246,297		284,767		386,401		20,105,228		(158,335	)		(37,200	)		(4,448	)		(86,715	)		(90,436	)		(377,134	)		(3,161	)		(380,295	)		19,724,933

Residential mortgage loans
0 days		—		12,518,932		—		—		65,511		12,584,443		—			(10,523	)		—			—			(4,528	)		(15,051	)		—			(15,051	)
1 to 29 days		—		240,310		—		—		35,915		276,225		—			(2,661	)		—			—			(2,255	)		(4,916	)		—			(4,916	)
30 to 59 days		—		90,398		—		—		36,030		126,428		—			(1,843	)		—			—			(2,265	)		(4,108	)		—			(4,108	)
60 to 89 days		—		30,983		—		—		24,045		55,028		—			(832	)		—			—			(1,522	)		(2,354	)		—			(2,354	)
> = 90 days		—		—		—		—		176,462		176,462		—			—			—			—			(11,971	)		(11,971	)		—			(11,971	)
Subtotal		—		12,880,623		—		—		337,963		13,218,586		—			(15,859	)		—			—			(22,541	)		(38,400	)		—			(38,400	)		13,180,186

Consumer loans
0 days		—		5,010,755		—		—		92,973		5,103,728		—			(148,953	)		—			—			(47,823	)		(196,776	)		—			(196,776	)
1 to 29 days		—		176,897		—		—		34,243		211,140		—			(28,928	)		—			—			(19,033	)		(47,961	)		—			(47,961	)
30 to 59 days		—		53,655		—		—		36,266		89,921		—			(15,508	)		—			—			(23,119	)		(38,627	)		—			(38,627	)
60 a 89 days		—		17,656		—		—		25,993		43,649		—			(6,668	)		—			—			(15,490	)		(22,158	)		—			(22,158	)
> = 90 days		—		—		—		—		102,868		102,868		—			—			—			—			(61,867	)		(61,867	)		—			(61,867	)
Subtotal		—		5,258,963		—		—		292,343		5,551,306		—			(200,057	)		—			—			(167,332	)		(367,389	)		—			(367,389	)		5,183,917

Total Loans		15,414,961		22,580,091		246,297		284,767		1,016,707		39,542,823		(159,223	)		(253,116	)		(4,448	)		(86,715	)		(280,309	)		(783,811	)		(3,161	)		(786,972	)		38,755,851

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13.

Financial assets at amortized cost, continued:

(k)

Finance lease contracts:

The cash flows to be received by the Bank from finance lease contracts have the following maturities:

	Total receivable				Deferred interest						Net balance receivable (*)
	March		December		March			December			March		December
	2025		2024		2025			2024			2025		2024
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$

Within one year		670,824		668,951		(97,743	)		(99,075	)		573,081		569,876
From 1 to 2 years		501,669		501,065		(71,634	)		(71,170	)		430,035		429,895
From 2 to 3 years		343,019		343,985		(45,691	)		(45,055	)		297,328		298,930
From 3 to 4 years		214,071		211,905		(30,209	)		(29,193	)		183,862		182,712
From 4 to 5 years		171,187		165,414		(21,256	)		(20,517	)		149,931		144,897
After 5 years		416,020		401,645		(49,052	)		(45,823	)		366,968		355,822
Total		2,316,790		2,292,965		(315,585	)		(310,833	)		2,001,205		1,982,132

(*)	The net balance receivable does not include past-due portfolio totaling Ch$7,120 million as of March 31, 2025 (Ch$9,212 million in December 2024).

The Bank maintains financial lease operations associated with movable assets, vehicles, industrial machinery, transportation equipment and real estate. These leases contracts have an average term between 2 and 15 years.

(l)

Purchase of loan portfolio:

During the period ended as of March 31, 2025 and the year 2024 no portfolio purchases were made.

(m)

Sale or transfer of loans from the loan portfolio:

During the period 2024, the following sale were made:

	March 2024
	Carrying amount		Allowances		Sale price		Effect on income (loss) gain
	MM$		MM$		MM$		MM$

Sale of current loans		110		—		110		—
Sale of written – off loans		—		—		—		—
Total		110		—		110		—

As of March 31, 2025, there were no sales or transfers of loans from the loan portfolio.

(n)

Securitization of own assets:

During the period 2025 and the year 2024, there is no securitization transactions executed involving its own assets.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

14.

Investments in other companies:

(a)

In the item “Investments in other companies” include investments of Ch$78,911 million as of March 31, 2025 (Ch$76,769 million as of December 31, 2024), as follows:

		% Ownership Interest				Assets
		March		December		March		December
Company	Shareholder	2025		2024		2025		2024
		%		%		MCh$		MCh$
Associates
Transbank S.A.	Banco de Chile		26.16		26.16		39,399		38,660
Centro de Compensación Automatizado S.A.	Banco de Chile		33.33		33.33		7,159		6,784
Redbanc S.A.	Banco de Chile		38.13		38.13		5,654		5,447
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile		26.81		26.81		2,772		2,704
Administrador Financiero de Transantiago S.A.	Banco de Chile		20.00		20.00		2,296		2,210
Servicios de Infraestructura de Mercado OTC S.A.	Banco de Chile		12.33		12.33		1,954		1,902
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile		15.00		15.00		1,364		1,312
Subtotal Associates							60,598		59,019

Joint Venture
Servipag Ltda.	Banco de Chile		50.00		50.00		8,418		8,258
Subtotal Joint Venture							8,418		8,258
Subtotal							69,016		67,277

Minority Investments
Holding Bursátil Regional S.A. ⁽¹⁾	Banchile Corredores de Bolsa						7,353		6,920
Banco Latinoamericano de Comercio Exterior S.A. (Bladex) ⁽¹⁾	Banco de Chile						2,077		2,103
Bolsa Electrónica de Chile, Bolsa de Valores ⁽¹⁾	Banchile Corredores de Bolsa						349		349
Sociedad de Telecomunicaciones Financieras Interbancarias Mundiales (Swift)	Banco de Chile						108		112
CCLV Contraparte Central S.A.	Banchile Corredores de Bolsa						8		8
Subtotal Minority Investments							9,895		9,492
Total							78,911		76,769

(1)

Investments in shares have been irrevocably designated as at fair value through other comprehensive income and, therefore, are recorded at market value in accordance with IFRS 9.

(b)

The change of investments in companies registered under the equity method in the period of 2025 and 2024, are as follows:

	March		March
	2025		2024
	MCh$		MCh$

Balance as of January 1,		67,277		65,082
Acquisition of investments in companies		—		—
Participation on income in companies with significant influence and joint control		1,734		189
Dividends received		—		—
Sale of participation in Artikos S.A.		—		—
Others		5		(1	)
Total		69,016		65,270

(c)

During the period ended as of March 31, 2025 and 2024 no impairment has incurred in these investments.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

14.

Investments in other companies, continued:

(d)

Summarized Financial Information of Associates and Joint Ventures

	Associates																					Joint Venture
March 2025	Centro de Compensación Automatizado S.A.			Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.			Sociedad Interbancaria de Depósito de Valores S.A.			Redbanc S.A.			Transbank S.A.			Administrador Financiero de Transantiago S.A.			Servicios de Infraestructura de Mercado OTC S.A.			Servipag Ltda.
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Current assets		14,657			1,681			48			12,992			1,322,537			64,923			24,941			68,132
Non-current assets		9,679			8,412			10,295			15,034			154,069			867			10,741			20,729
Total Assets		24,336			10,093			10,343			28,026			1,476,606			65,790			35,682			88,861

Current liabilities		3,422			1,022			542			11,336			1,316,292			52,964			19,572			64,926
Non-current liabilities		108			362			—			2,092			10,671			2,389			739			7,099
Total Liabilities		3,530			1,384			542			13,428			1,326,963			55,353			20,311			72,025
Equity		20,806			8,709			9,801			14,598			149,643			10,437			15,362			16,836
Minority interest		—			—			—			—			—			—			9			—
Total Liabilities and Equity		24,336			10,093			10,343			28,026			1,476,606			65,790			35,682			88,861

Operating income		3,628			1,281			—			10,465			147,467			858			1,806			6,943
Operating expenses		(2,392	)		(942	)		(2	)		(9,758	)		(122,070	)		(422	)		(1,446	)		(6,788	)
Other expenses or income		145			55			294			7			(22,089	)		152			132			266
Gain (loss) before tax		1,381			394			292			714			3,308			588			492			421
Income tax		(289	)		(83	)		—			(158	)		(482	)		(159	)		(106	)		(101	)
Gain for the period		1,092			311			292			556			2,826			429			386			320

	Associates																					Joint Venture
December 2024	Centro de Compensación Automatizado S.A.			Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.			Sociedad Interbancaria de Depósito de Valores S.A.			Redbanc S.A.			Transbank S.A.			Administrador Financiero de Transantiago S.A.			Servicios de Infraestructura de Mercado OTC S.A.			Servipag Ltda.
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Current assets		13,958			1,737			60			15,347			1,814,213			58,605			11,562			101,289
Non-current assets		9,462			8,223			10,036			14,062			161,533			887			11,538			21,034
Total Assets		23,420			9,960			10,096			29,409			1,975,746			59,492			23,100			122,323

Current liabilities		3,585			1,120			551			13,366			1,811,753			46,985			7,285			98,808
Non-current liabilities		43			384			—			1,932			17,176			2,371			748			6,999
Total Liabilities		3,628			1,504			551			15,298			1,828,929			49,356			8,033			105,807
Equity		19,792			8,456			9,545			14,111			146,817			10,136			15,058			16,516
Minority interest		—			—			—			—			—			—			9			—
Total Liabilities and Equity		23,420			9,960			10,096			29,409			1,975,746			59,492			23,100			122,323

Operating income		21,282			6,651			9			60,139			888,114			5,023			8,979			44,161
Operating expenses		(14,545	)		(5,843	)		(54	)		(58,167	)		(722,391	)		(2,541	)		(8,557	)		(40,929	)
Other expenses or income		741			390			1,848			234			(154,142	)		1,424			1,002			1,185
Gain (loss) before tax		7,478			1,198			1,803			2,206			11,581			3,906			1,424			4,417
Income tax		(1,853	)		(231	)		—			(467	)		(1,736	)		(855	)		(202	)		(1,066	)
Gain for the year		5,625			967			1,803			1,739			9,845			3,051			1,222			3,351

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

15.

Intangible Assets:

(a)

The composition of intangible assets as of March 31, 2025 and December 31, 2024, are as follows:

	Average useful Life				Average remaining amortization				Gross balance				Accumulated Amortization						Net balance
	March		December		March		December		March		December		March			December			March		December
	2025		2024		2025		2024		2025		2024		2025			2024			2025		2024
	Years		Years		Years		Years		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Other independently originated intangible assets		6		6		4		4		392,890		379,546		(230,478	)		(220,990	)		162,412		158,556
Total										392,890		379,546		(230,478	)		(220,990	)		162,412		158,556

(b)

The change of intangible assets during the period ended as of March 31, 2025 and December 31, 2024, are as follows:

	March			December
	2025			2024
	MCh$			MCh$
Gross Balance
Balance as of January 1,		379,546			322,148
Acquisition		13,884			57,617
Disposals/ write-downs		(538	)		(219	)
Reclassification		(2	)		—
Impairment (*)		—			—
Total		392,890			379,546

Accumulated Amortization
Balance as of January 1,		(220,990	)		(184,944	)
Amortization for the period (**)		(10,026	)		(36,265	)
Disposals/ write-downs		538			219
Impairment (*)		—			—
Total		(230,478	)		(220,990	)
Balance Net		162,412			158,556

(*)

See Note No. 40 Impairment of non-financial assets.

(**)

See Note No. 39 Depreciation and Amortization.

(c)

As of March 31, 2025, the Bank maintains Ch$11,586 million (Ch$13,889 million as of December 31, 2024) of assets associated with technological developments in progress.

(d)

As of March 31, 2025 and December 31, 2024, there are no restrictions on the intangible assets of the Bank. Furthermore, there are no intangible assets held as collateral for the fulfillment of obligations.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

16.

Property and equipment:

(a)

The properties and equipment as of March 31, 2025 and December 31, 2024 are composed as follows:

	Average useful Life				Average remaining depreciation				Gross balance				Accumulated Depreciation						Net balance
	March		December		March		December		March		December		March			December			March		December
	2025		2024		2025		2024		2025		2024		2025			2024			2025		2024
	Years		Years		Years		Years		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Type of property and equipment:
Land and Buildings		25		26		17		18		327,551		327,862		(174,932	)		(173,132	)		152,619		154,730
Equipment		5		5		3		3		262,750		261,142		(238,398	)		(236,146	)		24,352		24,996
Others		7		7		4		4		63,805		63,198		(54,166	)		(53,851	)		9,639		9,347
Total										654,106		652,202		(467,496	)		(463,129	)		186,610		189,073

(b)

The changes in properties and equipment as of March 31, 2025 and December 31, 2024, are as follows:

	March 2025
	Land and Buildings			Equipment			Others			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2025		327,862			261,142			63,198			652,202
Additions		1,083			2,469			931			4,483
Write-downs and sales of the period		(1,394	)		(856	)		(324	)		(2,574	)
Impairment (**)		—			(5	)		—			(5	)
Total		327,551			262,750			63,805			654,106

Accumulated Depreciation
Balance as of January 1, 2025		(173,132	)		(236,146	)		(53,851	)		(463,129	)
Depreciation of the period (*)		(2,458	)		(3,105	)		(630	)		(6,193	)
Write-downs and sales of the period		658			853			315			1,826
Total		(174,932	)		(238,398	)		(54,166	)		(467,496	)
Balance as of March 31, 2025		152,619			24,352			9,639			186,610

	December 2024
	Land and Buildings			Equipment			Others			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2024		322,766			256,933			61,118			640,817
Additions		7,369			5,286			3,699			16,354
Write-downs and sales of the year		(2,273	)		(1,075	)		(1,619	)		(4,967	)
Impairment (***)		—			(2	)		—			(2	)
Total		327,862			261,142			63,198			652,202

Accumulated Depreciation
Balance as of January 1, 2024		(165,286	)		(221,083	)		(52,791	)		(439,160	)
Depreciation of the year		(9,725	)		(15,881	)		(2,566	)		(28,172	)
Write-downs and sales of the year		1,879			818			1,506			4,203
Total		(173,132	)		(234,146	)		(53,851	)		(463,129	)
Balance as of December 31, 2024		154,730			24,996			9,347			189,073

(*)	See Note No. 39 Depreciation and Amortization.
(**)	See Note No. 40 Impairment of non-financial assets.

(***)

Does not include provision for write-off of Property for Ch$1,119 million as of December 31, 2024.

(c)	As of March 31, 2025, the Bank records Ch$8,296 million (Ch$5,510 million as of December 31, 2024) in assets under construction.
(d)	As of March 31, 2025 and December 31, 2024, there are no restrictions on the properties and equipment of the Bank and its subsidiaries. Furthermore, there are no properties and equipment held as collateral for the fulfillment of obligations.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

17.

Right-of-use assets and Lease liabilities:

(a)

The composition of the rights over leased assets as of March 31, 2025 and December 31, 2024, is as follows:

	Gross Balance				Accumulated Depreciation						Net Balance
	March		December		March			December			March		December
	2025		2024		2025			2024			2025		2024
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Categories
Buildings		123,951		126,655		(65,974	)		(63,657	)		57,977		62,998
Floor space for ATMs		38,935		36,080		(11,356	)		(9,307	)		27,579		26,773
Improvements to leased properties		28,728		28,783		(21,923	)		(21,675	)		6,805		7,108
Total		191,614		191,518		(99,253	)		(94,639	)		92,361		96,879

(b)

The changes of the rights over leased assets as of March 31, 2025 and December 31, 2024, is as follows:

	March 2025
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$

Gross Balance
Balance as of January 1, 2025		126,655			36,080			28,783			191,518
Additions		177			2,971			13			3,161
Write-downs		(2,660	)		(116	)		(68	)		(2,844	)
Remeasurement		(221	)		—			—			(221	)
Other incremental		—			—			—			—
Total		123,951			38,935			28,728			191,614

Accumulated Depreciation
Balance as of January 1, 2025		(63,657	)		(9,307	)		(21,675	)		(94,639	)
Depreciation of the period (*)		(4,910	)		(2,165	)		(264	)		(7,339	)
Write-downs		2,660			116			16			2,792
Other incremental		(67	)		—			—			(67	)
Total		(65,974	)		(11,356	)		(21,923	)		(99,253	)
Balance as of March 31, 2025		57,977			27,579			6,805			92,361

(*)	See Note No. 39 Depreciation and Amortization.

	December 2024
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$

Gross Balance
Balance as of January 1, 2024		145,849			33,060			30,426			209,335
Additions		13,892			4,385			872			19,149
Write-downs		(33,019	)		(1,197	)		(2,515	)		(36,731	)
Remeasurement		(67	)		(168	)		—			(235	)
Other incremental		—			—			—			—
Total		126,655			36,080			28,783			191,518

Accumulated Depreciation
Balance as of January 1, 2024		(75,361	)		(2,669	)		(22,416	)		(100,446	)
Depreciation of the year		(20,939	)		(7,733	)		(1,135	)		(29,807	)
Write-downs		32,638			1,123			1,876			35,637
Other incremental		5			(28	)		—			(23	)
Total		(63,657	)		(9,307	)		(21,675	)		(94,639	)
Balance as of December 31, 2024		62,998			26,773			7,108			96,879

(c)

Below are the future maturities (including unearned interest) of the lease liabilities as of March 31, 2025 and December 31, 2024:

	March 2025
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Lease associated to:
Buildings		—		1,652		3,323		13,788		21,321		12,917		9,262		62,263
ATMs		—		770		1,541		6,848		16,809		4,183		54		30,205
Total		—		2,422		4,864		20,636		38,130		17,100		9,316		92,468

	December 2024
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Lease associated to:
Buildings		—		1,692		3,374		14,158		23,675		14,245		10,657		67,801
ATMs		—		699		1,396		6,228		15,353		5,532		28		29,236
Total		—		2,391		4,770		20,386		39,028		19,777		10,685		97,037

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

17.

Right-of-use assets and Lease liabilities, continued:

The Bank and its subsidiaries maintain contracts with certain renewal options and for which there is reasonable certainty that said option shall be carried out. In such cases, the lease period used to measure the liability and assets corresponds to an estimate of future renewals.

(d)

The changes of the obligations for lease liabilities and the flows for the periods 2025 and 2024 are as follows:

	Total cash flow for the period
	MCh$
Lease liability
Balances as of January 1, 2024		101,480
Liabilities for new lease agreements		1,734
Interest accrued expenses		624
Payments of capital and interests		(7,245	)
Remeasurement		(520	)
Derecognized contracts		(380	)
Readjustments		711
Balances as of March 31, 2024		96,404
Liabilities for new lease agreements		12,914
Interest accrued expenses		1,757
Payments of capital and interests		(22,746	)
Remeasurement		285
Derecognized contracts		(77	)
Readjustments		2,892
Balances as of December 31, 2024		91,429
Liabilities for new lease agreements		2,175
Interest accrued expenses		564
Payments of capital and interests		(7,712	)
Remeasurement		(221	)
Derecognized contracts		—
Readjustments		973
Balances as of March 31, 2025		87,208

(e)

The future cash flows related to short-term lease agreements in effect as of March 31, 2025 correspond to Ch$3,240 million (Ch$3,557 million as of December 31, 2024).

(f)

As of March 31, 2025, the minimum future rental income to be received from operating leases amounts to Ch$21,613 million (Ch$14,101 million as of December 31, 2024).

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18.

Taxes:

(a)

Current Taxes:

The Bank and its subsidiaries at the end of each period, have constituted a First Category Income Tax Provision, which was determined based on current tax regulations, and has been reflected in the Interim Statement of Financial Position net of taxes to be recovered or payable, as applicable, as of March 31, 2025 and December 31, 2024 according to the following detail:

	March			December
	2025			2024
	MCh$			MCh$

Income tax		(71,499	)		(333,719	)
Tax Previous year		160,002			—
Less:
Monthly prepaid taxes		58,023			483,615
Credit for training expenses		—			1,820
Others		800			8,021
Total Tax Refundable (net)		147,326			159,737

Tax rate		27	%		27	%

	March			December
	2025			2024
	MCh$			MCh$

Current tax assets		148,726			159,869
Current tax liabilities		(1,400	)		(132	)
Total tax receivable (payable), net		147,326			159,737

(b)

Income Tax:

The effect of the tax expense during the periods between January 1 and March 31, 2025 and 2024, are broken down as follows:

	March		March
	2025		2024
	MCh$		MCh$
Income tax expense:
Current year tax		74,168		64,470
Subtotal		74,168		64,470
(Credit) Debit for deferred taxes:
Origin and reversal of temporary differences		4,862		21,025
Subtotal		4,862		21,025
Others		—		184
Net charge to income for income taxes		79,030		85,679

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18.

Taxes, continued:

(c)

Reconciliation of effective tax rate:

The following is a reconciliation of the income tax rate to the effective rate applied to determine the Bank’s income tax expense as of March 31, 2025 and 2024:

	March 2025						March 2024
	Tax rate						Tax rate
	%			MCh$			%			MCh$
Income tax calculated on net income before tax		27.00			110,153			27.00			103,500
Additions or deductions		(0.73	)		(2,990	)		(1.17	)		(4,479	)
Price-level restatement		(6.89	)		(28,095	)		(3.73	)		(14,293	)
Others		(0.01	)		(38	)		0.25			951
Effective rate and income tax expense		19.37			79,030			22.35			85,679

The effective rate for income tax for the period 2025 is 19.37% (22.35% in March 2024).

(d)

Effect of deferred taxes on income and equity:

The Bank and its subsidiaries have recorded the effects of deferred taxes in their Interim Consolidated Financial Statements. Below are the debtor and creditor differences as of March 31, 2025:

	Balances as of December 31,		Effect on						Balances as of March 31,
	2024		Income			Equity			2025
	MCh$		MCh$			MCh$			MCh$
Debit Differences:
Allowances for loan losses		384,945		(8,038	)		—			376,907
Personnel provision		24,636		(9,846	)		—			14,790
Provision of undrawn credit lines		3,237		7,509			—			10,746
Staff vacations provisions		11,562		(193	)		—			11,369
Accrued interests adjustments from impaired loans		16,534		274			—			16,808
Staff severance indemnities provision		1,004		11			17			1,032
Provision of credit cards expenses		10,968		(488	)		—			10,480
Provision of accrued expenses		10,231		(458	)		—			9,773
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		475		—			(351	)		124
Leasing		110,943		4,241			—			115,184
Incomes received in advance		4,114		(138	)		—			3,976
Exchange rate difference		—		1,496			—			1,496
Property and equipment valuation difference		6,800		728			—			7,528
Other adjustments		23,483		884			—			24,367
Total Debit Differences		608,932		(4,018	)		(334	)		604,580

Credit Differences:
Intangible (software and others)		24,998		805						25,803
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		—		—			—			—
Transitory assets		9,726		2,424			—			12,150
Loans accrued to effective rate		2,333		(27	)		—			2,306
Prepaid expenses		6,400		(1,137	)		—			5,263
Exchange rate difference		801		(801	)		—
Activated bond placement expense		4,895		(304	)		—			4,591
Other adjustments		3,116		(116	)		—			3,000
Total Credit Differences		52,269		844			—			53,113

Total, Net		556,663		(4,862	)		(334	)		551,467

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18.

Taxes, continued:

(d)

Effect of deferred taxes on income and equity, continued:

Reconciliation to Interim Statement of Financial Position:

	March			December
	2025			2024
	MCh$			MCh$

Deferred tax assets		553,227			556,829
Deferred tax liabilities		(1,760	)		(166	)
Total deferred taxes		551,467			556,663

Below are the debtor and creditor differences as of December 31, 2024:

	Balances as of December 31,		Effect on						Balances as of December 31,
	2023		Income			Equity			2024
	MCh$		MCh$			MCh$			MCh$
Debit Differences:
Allowances for loan losses		372,267		12,678			—			384,945
Personnel provision		24,404		232			—			24,636
Provision of undrawn credit lines		3,183		54			—			3,237
Staff vacations provisions		12,025		(463	)		—			11,562
Accrued interests adjustments from impaired loans		14,937		1,597			—			16,534
Staff severance indemnities provision		1,252		(217	)		(31	)		1,004
Provision of credit cards expenses		9,857		1,111			—			10,968
Provision of accrued expenses		10,737		(506	)		—			10,231
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		277		—			198			475
Leasing		103,352		7,591			—			110,943
Incomes received in advance		5,149		(1,035	)		—			4,114
Exchange rate difference		—		—			—			—
Property and equipment valuation difference		2,876		3,924			—			6,800
Other adjustments		31,009		(7,526	)		—			23,483
Total Debit Differences		591,325		17,440			167			608,932

Credit Differences:
Intangible (software and others)		19,085		5,913			—			24,998
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		—		—			—			—
Transitory assets		8,874		852			—			9,726
Loans accrued to effective rate		2,484		(151	)		—			2,333
Prepaid expenses		10,885		(4,485	)		—			6,400
Exchange rate difference		1,636		(835	)		—			801
Activated bond placement expense		5,257		(362	)		—			4,895
Other adjustments		3,286		(170	)		—			3,116
Total Credit Differences		51,507		762			—			52,269

Total, Net		539,818		16,678			167			556,663

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18.

Taxes, continued:

(e)

For the purpose of complying with the Circular No. 47 issued by the Chilean Internal Revenue Service (SII) and No. 3,478 issued by the CMF, dated August 18, 2009 the changes and effects generated by the application of Article 31, No. 4 of the Income Tax Law are detailed below.

As the circular requires, the information corresponds only to the Bank’s credit operations and does not consider operations of subsidiary entities that are consolidated in these Interim Consolidated Financial Statements.

					Tax value assets
(e.1) Loans and advance to banks and Loans to customers as of March 31, 2025	Book value assets (*)		Tax value assets		Past-due loans with guarantees		Past-due loans without guarantees		Total Past-due loans
	MCh$		MCh$		MCh$		MCh$		MCh$

Loans and advance to banks		1,699,865		1,700,765		—		—		—
Commercial loans		17,244,084		17,656,118		50,375		91,075		141,450
Consumer loans		5,148,528		5,645,971		1,015		33,394		34,409
Residential mortgage loans		13,459,612		13,510,567		15,332		600		15,932
Total		37,552,089		38,513,421		66,722		125,069		191,791

					Tax value assets
(e.1) Loans and advance to banks and Loans to customers as of December 31, 2024	Book value assets (*)		Tax value assets		Past-due loans with guarantees		Past-due loans without guarantees		Total Past-due loans
	MCh$		MCh$		MCh$		MCh$		MCh$

Loans and advance to banks		666,815		667,703		—		—		—
Commercial loans		17,209,033		17,619,880		48,979		94,025		143,004
Consumer loans		5,183,601		5,648,054		1,357		34,500		35,857
Residential mortgage loans		13,180,186		13,227,905		13,908		685		14,593
Total		36,239,635		37,163,542		64,244		129,210		193,454

(*)

In accordance with the mentioned Circular and instructions from the SII, the value of Financial Statement assets, are presented on an individual basis (only Banco de Chile) net of allowance for loan losses and do not include lease and factoring operations.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18.

Taxes, continued:

(e.2) Provisions on past-due loans	Balance as of January 1, 2025		Charge-offs against provisions			Provisions established		Provisions released			Balance as of March 31, 2025
	MCh$		MCh$			MCh$		MCh$			MCh$

Commercial loans	94,025		(16,179)			25,742		(12,513)			91,075
Consumer loans		34,500		(83,531	)		86,572		(4,147	)		33,394
Residential mortgage loans		685		(416	)		573		(242	)		600
Total		129,210		(100,126	)		112,887		(16,902	)		125,069

(e.2) Provisions on past-due loans	Balance as of January 1, 2024		Charge-offs against provisions			Provisions established		Provisions released			Balance as of December 31, 2024
	MCh$		MCh$			MCh$		MCh$			MCh$

Commercial loans		107,464		(93,816	)		123,192		(42,815	)		94,025
Consumer loans		37,532		(330,064	)		348,148		(21,116	)		34,500
Residential mortgage loans		586		(1,610	)		2,820		(1,111	)		685
Total		145,582		(425,490	)		474,160		(65,042	)		129,210

	March		December
(e.3) Charge-offs and recoveries	2025		2024
	MCh$		MCh$

Charge-offs Art. 31 No. 4 second subparagraph		8,815		26,248
Write-offs resulting in provisions released		35		77
Recovery or renegotiation of written-off loans		326		1,306

	March		December
(e.4) Application of Art. 31 No. 4 first & third subsections of the income tax law	2025		2024
	MCh$		MCh$

Charge-offs in accordance with first subsection		—		—
Write-offs in accordance with third subsection		35		77

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

19.

Other Assets:

At the end of each period, the item is composed as follows:

	March			December
	2025			2024
	MCh$			MCh$

Cash collateral provided for derivative financial transactions		361,482			347,788
Accounts receivable from the General Treasury of the Republic and other fiscal organizations		300,342			349,282
Accounts receivable from third parties		280,074			195,364
Debtors from brokerage of financial instruments		254,531			195,252
Assets to be leased out as lessor (*)		136,132			162,594
Prepaid expenses		57,693			53,645
Other provided cash collateral		39,739			14,806
Income from regular activities from contracts with customers		18,741			24,006
Investment properties		11,317			11,406
Pending transactions		2,683			3,351
Accumulated impairment in respect of other assets receivable		(2,076	)		(1,817	)
Other Assets		17,302			17,864
Total		1,477,960			1,373,541

(*)

Correspond to fixed assets to be delivered under the financial lease modality.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

20.

Non-current assets and disposal groups held for sale and Liabilities included in disposal groups for sale:

(a)

At the end of each period, the item is composed as follows:

	March			December
	2025			2024
	MCh$			MCh$

Assets received in lieu of payment or awarded at judicial sale (*)
Assets awarded at judicial sale		28,957			27,854
Assets received in lieu of payment		3,612			5,075
Provision for assets received in lieu of payment or awarded		(125	)		(82	)

Non-current assets for sale
Investments in other companies		—			—
Assets for recovery of assets transferred in financial leasing operations		645			603

Disposal groups held for sale		—			—
Total		33,089			33,450

(*)

Assets received in lieu of payment refer to assets accepted as payment for past-due or written-off debts owed by customers. The assets acquired in this manner does not exceed 20% of the Bank’s effective equity.

(b)

The changes of the provision for assets received in lieu of payment during the period 2025 and 2024 are as follows:

Provision for assets received in lieu of payment	MCh$

Balance as of January 1, 2024		60
Provisions used		(360	)
Provisions established		388
Provisions released		—
Balance as of March 31, 2024		88
Provisions used		(1,530	)
Provisions established		1,524
Provisions released		—
Balance as of December 31, 2024		82
Provisions used		(394	)
Provisions established		437
Provisions released		—
Balance as of March 31, 2025		125

(c)

The Bank does not present liabilities classified in the disposal group for sale during the periods March 2025 and December 2024.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

21.

Financial liabilities held for trading at fair value through profit or loss:

The item detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Financial derivative contracts		2,192,952		2,444,806
Other financial instruments		6,524		990
Total		2,199,476		2,445,796

As of March 31, 2025 and December 31, 2024, the Bank maintains the following debt portfolio of derivative instruments:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Liabilities
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Currency forward		—		—		4,424,872		3,638,001		1,083,811		2,003,870		4,099,942		2,583,070		668,085		863,850		19,965		—		—		—		10,296,675		9,088,791		229,323		241,632
Interest rate swap		—		—		1,598,522		619,104		1,699,212		1,627,918		5,395,799		4,583,573		7,404,227		7,622,130		3,984,429		3,963,087		3,546,287		3,921,627		23,628,476		22,337,439		531,303		650,580
Interest rate swap and cross currency swap		—		—		265,540		96,844		764,939		198,892		2,009,813		2,331,613		2,924,153		2,909,482		2,017,987		1,978,681		3,004,977		2,879,356		10,987,409		10,394,868		1,428,727		1,547,488
Call currency options		—		—		5,979		10,499		20,969		38,376		27,731		18,825		157		—		—		—		—		—		54,836		67,700		1,587		4,151
Put currency options		—		—		5,330		4,761		38,252		46,913		46,563		64,449		6,871		11,340		—		—		—		—		97,016		127,463		2,012		955
Total		—		—		6,300,243		4,369,209		3,607,183		3,915,969		11,579,848		9,581,530		11,003,493		11,406,802		6,022,381		5,941,768		6,551,264		6,800,983		45,064,412		42,016,261		2,192,952		2,444,806

Other instruments or financial liabilities:

	March		December
	2025		2024
	MCh$		MCh$

Current accounts and other demand deposits		—		—
Savings accounts and other time deposits		—		—
Debt instruments issued		—		—
Others		6,524		990
Total		6,524		990

100

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22.

Financial liabilities at amortized cost:

The item detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Current accounts and other demand deposits		14,560,376		14,263,303
Saving accounts and time deposits		15,507,444		14,168,703
Obligations by repurchase agreements and securities lending		141,790		109,794
Borrowings from financial institutions		1,312,028		1,103,468
Debt financial instruments issued		9,989,666		9,690,069
Other financial obligations		320,709		284,479
Total		41,832,013		39,619,816

(a)

Current accounts and other demand deposits:

At the end of each period, the composition of current accounts and other demand deposits is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Current accounts		11,605,548		11,769,419
Other demand obligations		1,840,697		1,382,554
Demand deposits accounts		653,228		652,075
Other demand deposits		460,903		459,255
Total		14,560,376		14,263,303

(b)

Saving accounts and time deposits:

At the end of each period, the composition of saving accounts and time deposits is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Time deposits		15,096,815		13,764,830
Term savings accounts		388,232		374,593
Other term balances payable		22,397		29,280
Total		15,507,444		14,168,703

101

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22.

Financial liabilities at amortized cost, continued:

(c)

Obligations by repurchase agreements and securities lending:

The Bank obtains financing by selling financial instruments and agreeing to repurchase them in the future, plus interest at a prefixed rate. As of March 31, 2025 and December 31, 2024, the repurchase agreements are the following:

	March		December
	2025		2024
	MCh$		MCh$
Transaction with domestic banks		—		—
Transaction with foreign banks		—		—
Transaction with other domestic entities
Repurchase agreements		141,790		109,794
Transaction with other foreign entities		—		—

Total		141,790		109,794

The fair value of the financial instruments delivered as collateral by the Bank and its subsidiaries, in sales transactions with repurchase agreement and securities lending as of March 31, 2025 amounts to Ch$141,627 million (Ch$109,505 million in December 2024). In the event that the Bank and its subsidiaries enter into default or bankruptcy, the counterparty is authorized to sell or deliver these investments as collateral.

(d)

Borrowings from Financial Institutions:

At the end of each period, borrowings from financial institutions are detailed as follows:

	March		December
	2025		2024
	MCh$		MCh$
Foreign banks
Foreign trade financing
HSBC Bank		327,104		245,469
Bank of New York Mellon		230,966		240,008
Bank of America		214,859		124,057
Zurcher Kantonalbank		144,422		90,386
Caixabank S.A.		144,407		201,802
Citibank N.A. United States		49,636		2,189
DZ Bank AG Deutsche		40,370		41,646
Standard Chartered Bank		2,530		2,685
Commerzbank AG		1,721		1,417
Wells Fargo Bank		348		1,890
Others		46		71

Borrowings and other obligations
Wells Fargo Bank		146,903		150,775
Deutsche Bank Trust Company Americas		8,416		87
Citibank N.A. United Kingdom		300		986
Subtotal foreign banks		1,312,028		1,103,468

Chilean Central Bank (*)		—		—

Total		1,312,028		1,103,468

102

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22.

Financial liabilities at amortized cost, continued:

(e)

Debt financial instruments issued:

At the end of each period, the composition of debt financial instruments issued as follows:

	March		December
	2025		2024
	MCh$		MCh$

Letters of credit
Letters of credit for housing		717		849
Letters of credit for general purposes		—		1

Bonds
Current Bonds		9,988,949		9,689,219
Mortgage bonds		—		—
Total		9,989,666		9,690,069

During the period ended March 31, 2025 Banco de Chile has placed bonds for Ch$373,284 million, which corresponds to Short-Term Current Bonds and Long-Term Bonds for amounts of Ch$299,031 and Ch$74,253 million respectively, according to the following details:

Short-term Bonds

Counterparty

Currency

Amount
MCh$

Annual
interest rate %

Issued
date

Maturity
date

Wells Fargo Bank

USD

98,630

4.68

01/27/2025

05/02/2025

Wells Fargo Bank

USD

98,630

4.65

01/27/2025

08/01/2025

Wells Fargo Bank

USD

92,519

4.55

03/07/2025

04/07/2025

Wells Fargo Bank

USD

9,252

4.45

03/07/2025

09/05/2025

Total

299,031

Long-Term Bonds

Serie

Currency

Amount
MCh$

Terms
Years

Annual
interest rate
%

Issued
date

Maturity
date

BCHIFC0721

22,830

2.97

03/17/2025

01/01/2030

BCHIFC0721

11,422

2.97

03/20/2025

01/01/2030

BCHIFC0721

40,001

2.97

03/21/2025

01/01/2030

Total

74,253

103

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22.

Financial liabilities at amortized cost, continued:

During the year ended December 31, 2024 Banco de Chile has placed bonds for Ch$1,012,638 million, which corresponds to Short-Term Current Bonds and Long-Term Bonds for amounts of Ch$28,049 and Ch$984,589 million respectively, according to the following details:

Short-term Bonds

Counterparty

Currency

Amount
MCh$

Annual
interest rate
%

Issued
date

Maturity
date

Wells Fargo Bank

USD

28,049

5.46

05/07/2024

08/07/2024

Total

28,049

Long-Term Bonds

Serie	Currency	Amount MCh$		Terms Years		Annual interest rate %		Issued date	Maturity date

BCHIEZ1121	UF		107,462		4		3.72	01/15/2024	05/01/2028
BCHIEZ1121	UF		31,197		4		3.72	01/16/2024	05/01/2028
BCHICE1215	UF		21,998		7		3.20	01/31/2024	12/01/2031
BCHICH1215	UF		7,350		8		3.15	02/08/2024	12/01/2032
BCHIFA0222	UF		32,349		4		3.25	03/15/2024	08/01/2028
BCHIFA0222	UF		19,518		4		3.32	03/21/2024	08/01/2028
BCHIEY1021	UF		12,474		4		3.29	03/22/2024	04/01/2028
BCHIFA0222	UF		14,228		4		3.29	03/25/2024	08/01/2028
BCHIGG1121	UF		12,345		11		3.35	03/26/2024	05/01/2035
BCHIFA0222	UF		3,566		4		3.24	03/27/2024	08/01/2028
BCHIEY1021	UF		17,696		4		3.28	04/04/2024	04/01/2028
BCHIEX0122	UF		9,231		1		3.10	04/12/2024	07/01/2025
BCHIEX0122	UF		14,793		1		3.02	04/17/2024	07/01/2025
BCHIHX1223	UF		32,225		20		3.49	05/08/2024	12/01/2044
BCHIHX1223	UF		11,376		20		3.49	05/09/2024	12/01/2044
BCHIHX1223	UF		5,727		20		3.46	05/17/2024	12/01/2044
BCHIHX1223	UF		15,283		20		3.46	05/22/2024	12/01/2044
BCHIHX1223	UF		37,202		20		3.55	06/04/2024	12/01/2044
BCHIFO0721	UF		3,575		8		3.48	06/06/2024	01/01/2032
BCHIEY1021	UF		3,606		4		3.20	06/10/2024	04/01/2028
BCHIGG1121	UF		8,366		11		3.53	06/11/2024	05/01/2035
BCHIFB1021	UF		21,220		5		3.35	06/12/2024	04/01/2029
BCHIEY1021	UF		12,648		4		3.29	07/09/2024	04/01/2028
BCHIFB1021	UF		39,504		5		3.50	07/09/2024	04/01/2029
BCHIFB1021	UF		1,796		5		3.49	07/09/2024	04/01/2029
BCHIFB1021	UF		5,399		5		3.45	07/10/2024	04/01/2029
BCHIFC0721	UF		37,442		6		3.47	07/11/2024	01/01/2030
BCHIFC0721	UF		7,147		6		3.43	07/12/2024	01/01/2030
BCHIHX1223	UF		7,550		20		3.50	07/18/2024	12/01/2044
BCHIFB1021	UF		25,454		5		3.23	07/23/2024	04/01/2029
BCHIFA0222	UF		18,404		4		3.04	07/24/2024	08/01/2028
BCHIFO0721	UF		19,198		8		2.50	09/27/2024	01/01/2032
BCHIHX1223	UF		94,840		20		2.36	09/30/2024	12/01/2044
BCHIHP1223	UF		220,035		16		2.37	10/01/2024	12/01/2040
Subtotal			932,204

BONO HKD	HKD		52,385		10		4.22	02/02/2024	02/09/2034
Subtotal other currencies			52,385
Total			984,589

104

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22.

Financial liabilities at amortized cost, continued:

As of March 31, 2025 and December 31, 2024, the Bank has not presented defaults in the payment of principal and interest on its debt instruments. Likewise, there have been no breaches of covenants and other commitments associated with the debt instruments issued.

(f)

Other Financial Obligations:

At the end of each period, the composition of other financial obligations as follows:

	March		December
	2025		2024
	MCh$		MCh$

Other Chilean financial obligations		320,709		284,479
Other financial obligations with the Public sector		—		—
Total		320,709		284,479

23.

Financial instruments of regulatory capital issued:

At the end of each period, this item is composed as follows:

	March		December
	2025		2024
	MCh$		MCh$

Subordinated bonds
Subordinated bonds with transitory recognition		—		—
Subordinated bonds		1,087,573		1,068,879
Bonds with no fixed term of maturity		—		—
Preferred stock		—		—
Total		1,087,573		1,068,879

Issuances of regulatory capital financial instruments in the period:

As of March 31, 2025 and December 31, 2024, no issues of regulatory capital financial instruments have been made.

105

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23.

Financial instruments of regulatory capital issued, continued:

Changes in regulatory capital financial instruments:

	Subordinated bonds			Bonds with no maturity		Preferred shares
	MCh$			MCh$		MCh$

Balance as of January 1, 2024		1,039,814			—		—
Emissions made		—			—		—
Transaction costs		—			—		—
Transaction costs amortization		—			—		—
Accrued interest		34,551			—		—
Acquisition or redemption by the issuer		—			—		—
Modification of the issuance conditions		—			—		—
Interest and UF indexation payments to the holder		(41,432	)		—		—
Principal payments to the holder		(9,205	)		—		—
Accrued UF indexation		45,151			—		—
Exchange rate differences		—			—		—
Depreciation		—			—		—
Reappraisal		—			—		—
Expiration		—			—		—
Conversion to common shares		—			—		—
Balance as of December 31, 2024		1,068,879			—		—

Balance as of January 1, 2025		1,068,879			—		—
Emissions made		—			—		—
Transaction costs		—			—		—
Transaction costs amortization		—			—		—
Accrued interest		8,704			—		—
Acquisition or redemption by the issuer		—			—		—
Modification of the issuance conditions		—			—		—
Interest and UF indexation payments to the holder		(2,269	)		—		—
Principal payments to the holder		(871	)		—		—
Accrued UF indexation		13,130			—		—
Exchange rate differences		—			—		—
Depreciation		—			—		—
Reappraisal		—			—		—
Expiration		—			—		—
Conversion to common shares		—			—		—
Balance as of March 31, 2025		1,087,573			—		—

106

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23.

Financial instruments of regulatory capital issued, continued:

Below is the detail of the subordinated bonds due as of March 31, 2025 and December 31, 2024:

March 2025
Serie	Currency	Issuance currency amount		Interest rate %		Registration date	Maturity date	Balance due MCh$

C1	UF		300,000		7.5	12/06/1999	01/01/2030		4,376
C1	UF		200,000		7.4	12/06/1999	01/01/2030		2,921
C1	UF		530,000		7.1	12/06/1999	01/01/2030		7,788
C1	UF		300,000		7.1	12/06/1999	01/01/2030		4,410
C1	UF		50,000		6.5	12/06/1999	01/01/2030		744
C1	UF		450,000		6.6	12/06/1999	01/01/2030		6,696
D1	UF		2,000,000		3.6	06/20/2002	04/01/2026		10,556
F	UF		1,000,000		5.0	11/28/2008	11/01/2033		38,280
F	UF		1,500,000		5.0	11/28/2008	11/01/2033		57,420
F	UF		759,000		4.5	11/28/2008	11/01/2033		30,054
F	UF		241,000		4.5	11/28/2008	11/01/2033		9,543
F	UF		4,130,000		4.2	11/28/2008	11/01/2033		166,351
F	UF		1,000,000		4.3	11/28/2008	11/01/2033		40,278
F	UF		70,000		4.2	11/28/2008	11/01/2033		2,827
F	UF		4,000,000		3.9	11/28/2008	11/01/2033		165,591
F	UF		2,300,000		3.8	11/28/2008	11/01/2033		95,543
G	UF		600,000		4.0	11/29/2011	11/01/2036		23,201
G	UF		50,000		4.0	11/29/2011	11/01/2036		1,933
G	UF		80,000		3.9	11/29/2011	11/01/2036		3,113
G	UF		450,000		3.9	11/29/2011	11/01/2036		17,527
G	UF		160,000		3.9	11/29/2011	11/01/2036		6,232
G	UF		1,000,000		2.7	11/29/2011	11/01/2036		43,582
G	UF		300,000		2.7	11/29/2011	11/01/2036		13,075
G	UF		1,360,000		2.6	11/29/2011	11/01/2036		59,436
J	UF		1,400,000		1.0	11/29/2011	11/01/2042		79,007
J	UF		1,500,000		1.0	11/29/2011	11/01/2042		84,762
J	UF		1,100,000		1.0	11/29/2011	11/01/2042		62,584
I	UF		900,000		1.0	11/29/2011	11/01/2040		49,743
						Total subordinated bonds due			1,087,573

107

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23.

Financial instruments of regulatory capital issued, continued:

December 2024
Serie	Currency	Issuance currency amount		Interest rate %		Registration date	Maturity date	Balance due MCh$

C1	UF		300,000		7.5	12/06/1999	01/01/2030		4,761
C1	UF		200,000		7.4	12/06/1999	01/01/2030		3,178
C1	UF		530,000		7.1	12/06/1999	01/01/2030		8,472
C1	UF		300,000		7.1	12/06/1999	01/01/2030		4,797
C1	UF		50,000		6.5	12/06/1999	01/01/2030		809
C1	UF		450,000		6.6	12/06/1999	01/01/2030		7,283
D1	UF		2,000,000		3.6	06/20/2002	04/01/2026		10,335
F	UF		1,000,000		5.0	11/28/2008	11/01/2033		37,358
F	UF		1,500,000		5.0	11/28/2008	11/01/2033		56,037
F	UF		759,000		4.5	11/28/2008	11/01/2033		29,365
F	UF		241,000		4.5	11/28/2008	11/01/2033		9,324
F	UF		4,130,000		4.2	11/28/2008	11/01/2033		162,631
F	UF		1,000,000		4.3	11/28/2008	11/01/2033		39,377
F	UF		70,000		4.2	11/28/2008	11/01/2033		2,764
F	UF		4,000,000		3.9	11/28/2008	11/01/2033		162,042
F	UF		2,300,000		3.8	11/28/2008	11/01/2033		93,507
G	UF		600,000		4.0	11/29/2011	11/01/2036		22,697
G	UF		50,000		4.0	11/29/2011	11/01/2036		1,891
G	UF		80,000		3.9	11/29/2011	11/01/2036		3,046
G	UF		450,000		3.9	11/29/2011	11/01/2036		17,149
G	UF		160,000		3.9	11/29/2011	11/01/2036		6,097
G	UF		1,000,000		2.7	11/29/2011	11/01/2036		42,768
G	UF		300,000		2.7	11/29/2011	11/01/2036		12,831
G	UF		1,360,000		2.6	11/29/2011	11/01/2036		58,330
J	UF		1,400,000		1.0	11/29/2011	11/01/2042		77,836
J	UF		1,500,000		1.0	11/29/2011	11/01/2042		83,509
J	UF		1,100,000		1.0	11/29/2011	11/01/2042		61,667
I	UF		900,000		1.0	11/29/2011	11/01/2040		49,018
						Total subordinated bonds due			1,068,879

24.

Provisions for contingencies:

(a)

At the end of each period, this item is composed as follows:

	March		December
	2025		2024
	MCh$		MCh$

Provisions for employee benefit obligations		108,450		151,633
Provisions for obligations of customer loyalty and merit programs		38,816		40,621
Provisions for lawsuits and litigation		1,849		1,592
Provisions for operational risk		554		907
Provisions of a bank branch abroad for profit remittances to its parent company		—		—
Provisions for reestructuring plans		—		—
Other provisions for contingencies		—		—
Total		149,669		194,753

108

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24.

Provisions for contingencies, continued;

(b)

The following table shows the changes in provisions during the period 2025 and 2024:

	Provisions for employee benefit obligations			Provisions of a bank branch abroad for profit remittances to its parent company		Provisions for reestructuring plans		Provisions for lawsuits and litigation			Provisions for obligations of customer loyalty and merit programs			Provisions for operational risk			Other provisions for contingencies			Total
	MCh$			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$

Balances as of January 1, 2024		154,132			—		—		1,173			36,242			341			264			192,152
Provisions established		27,899			—		—		220			4,207			81			—			32,407
Provisions used		(72,742	)		—		—		(225	)		—			(82	)		—			(73,049	)
Provisions released		—			—		—		(64	)		—			(23	)		—			(87	)
Balances as of March 31, 2024		109,289			—		—		1,104			40,449			317			264			151,423
Provisions established		90,103			—		—		818			172			755			—			91,848
Provisions used		(47,759	)		—		—		(257	)		—			(75	)		—			(48,091	)
Provisions released		—			—		—		(73	)		—			(90	)		(264	)		(427	)
Balances as of December 31, 2024		151,633			—		—		1,592			40,621			907			—			194,753
Provisions established		27,610			—		—		406			—			184			—			28,200
Provisions used		(70,793	)		—		—		(52	)		—			(537	)		—			(71,382	)
Provisions released		—			—		—		(97	)		(1,805	)		—			—			(1,902	)
Balances as of March 31, 2025		108,450			—		—		1,849			38,816			554			—			149,669

(c)

Provisions for employee benefit obligations:

	March		December
	2025		2024
	MCh$		MCh$

Provision of short-term employee benefits		99,778		143,305
Provision of benefits to employees for contract termination		8,672		8,328
Provisión of benefits to post-employment employees		—		—
Provision of long-term employee benefits		—		—
Provision of share-based employee benefits		—		—
Provisión for obligations for defined contribution post-employment plans		—		—
Provisión for obligations for post-employment defined benefit plans		—		—
Provision for other employee obligations		—		—
Total		108,450		151,633

109

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24.

Provisions for contingencies, continued;

(d)

Provision of short-term employee benefits:

(i)

Compliance bonuses provision:

	March			March
	2025			2024
	MCh$			MCh$

Balances as of January 1		68,356			71,102
Net provisions established		13,938			15,313
Provisions used		(55,619	)		(57,626	)
Total		26,675			28,789

(ii)

Vacation provision:

	March			March
	2025			2024
	MCh$			MCh$

Balances as of January 1		42,824			43,257
Net provisions established		1,756			2,725
Provisions used		(2,459	)		(3,042	)
Total		42,121			42,940

(iii)

Provision of other benefits to personnel:

	March			March
	2025			2024
	MCh$			MCh$

Balances as of January 1		32,125			30,096
Net provisions established		11,532			8,941
Provisions used		(12,675	)		(11,691	)
Total		30,982			27,346

(e)

Provision of benefits to employees for contract termination:

(i)

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

	March			March
	2025			2024
	MCh$			MCh$

Present value of the obligations at the beginning of the period		8,328			9,677
Increase in provision		322			1,035
Benefit paid		(40	)		(383	)
Effect of change in actuarial factors		62			(115	)
Total		8,672			10,214

110

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24.

Provisions for contingencies, continued;

(e)

Provision of benefits to employees for contract termination, continued:

(ii)

Net benefits expenses:

	March			March
	2025			2024
	MCh$			MCh$

Increase (decrease) in provisions		(151	)		499
Interest cost of benefits obligations		473			536
Effect of change in actuarial factors		62			(115	)
Net benefit expenses		384			920

(iii)

Factors used in the calculation of the provision:

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

	March 31, 2025		December 31, 2024
		%		%

Discount rate		5.71		5.71
Salary increase rate		5.50		4.50
Payment probability		99.99		99.99

The most recent actuarial valuation of the staff severance indemnities provision was carried out during the first quarter of 2025.

(f)

Employee benefits share-based provision:

As of March 31, 2025 and December 31, 2024, the Bank and its subsidiaries do not have a stock-based compensation plan.

111

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

25.

Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued:

(a)

The item detail is as follows:

	March		December
	2025		2024
	MCh$		MCh$

Provisions for dividends		153,537		597,228
Provisions for payment of interest on bonds with no fixed maturity date		—		—
Provision for revaluation of bonds without a fixed term of maturity		—		—
Total		153,537		597,228

(b)

The changes at the end of each period are as follows:

	Provisions for dividends			Provisions for payment of interest on bonds with no fixed maturity date		Provision for revaluation of bonds without a fixed term of maturity		Total
	MCh$			MCh$		MCh$		MCh$

Balances as of January 1, 2024		611,949			—		—		611,949
Provisions established		156,699			—		—		156,699
Provisions used		(611,949	)		—		—		(611,949	)
Provisions released		—			—		—		—
Balances as of March 31, 2024		156,699			—		—		156,699
Provisions established		440,529			—		—		440,529
Provisions used		—			—		—		—
Provisions released		—			—		—		—
Balances as of December 31, 2024		597,228			—		—		597,228
Provisions established		153,537			—		—		153,537
Provisions used		(597,228	)		—		—		(597,228	)
Provisions released		—			—		—		—
Balances as of March 31, 2025		153,537			—		—		153,537

112

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

26.

Special provisions for credit risk:

At the end of each period, this item is composed as follows:

	March		December
	2025		2024
	MCh$		MCh$

Additional loan provisions (*)		631,217		700,252
Provisions for credit risk for contingent loans (**)		94,050		67,537
Provisions for country risk for transactions with debtors with residence abroad		5,576		6,395
Special provisions for loans abroad		—		—
Provisions for adjustments to the minimum provision required for normal portfolio with individual evaluation		—		—
Provisions constituted by credit risk as a result of additional prudential requirements		—		—
Total		730,843		774,184

(*)	To address the impact of applying the standard provisioning model for consumer loans, additional provisions of Ch$69,035 million were released in January 2025. See Note No. 4, Accounting Changes.

(**)	The changes of provisions for credit risk for contingent loans is disclosed in Note No. 13 letter (f).

The changes of provisions for special credit risk is as follows:

	Additional loan provisions			Provisions for credit risk for contingent loans			Provisions for country risk for transactions with debtors with residence abroad			Total
	MCh$			MCh$			MCh$			MCh$

Balances as of January 1, 2024		700,252			61,227			7,668			769,147
Provisions established		—			2,701			3,337			6,038
Provisions used		—			—			—			—
Provisions released		—			—			—			—
Foreign exchange differences		—			1,351			—			1,351
Balances as of March 31, 2024		700,252			65,279			11,005			776,536
Provisions established		—			2,182			—			2,182
Provisions used		—			—			—			—
Provisions released		—			—			(4,610	)		(4,610	)
Foreign exchange differences		—			76			—			76
Balances as of December 31, 2024		700,252			67,537			6,395			774,184
Provisions established		—			27,232			—			27,232
Provisions used		—			—			—			—
Provisions released		(69,035	)		—			(819	)		(69,854	)
Foreign exchange differences		—			(719	)		—			(719	)
Balances as of March 31, 2025		631,217			94,050			5,576			730,843

113

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

27.

Other Liabilities:

At the end of each period, this item is composed as follows:

	March		December
	2025		2024
	MCh$		MCh$

Accounts payable to third parties		500,365		425,733
Obligations for mortgage loans granted to be remit to other banks and/or real estate companies		381,370		362,021
Creditors for intermediation of financial instruments		251,395		193,171
Cash guarantees received for derivative financial transactions		162,237		176,520
Liability for income from usual activities from contracts with customers		38,172		39,783
Agreed dividends payable		17,998		13,467
VAT debit		10,493		4,077
Outstanding transactions		1,681		1,532
Other cash guarantees received		489		483
Securities to be settled		—		3,633
Other liabilities		31,427		34,992
Total		1,395,627		1,255,412

114

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28.

Equity:

(a)

Capital:

(i)

Authorized, subscribed and paid shares:

As of March 31, 2025, the paid-in capital of Banco de Chile is represented by 101,017,081,114 registered shares (101,017,081,114 shares as of December 31, 2024), with no par value, subscribed and fully paid.

	As of March 31, 2025
	Number of Shares		% of Equity Holding
Corporate Name or Shareholders’s name
LQ Inversiones Financieras S.A.		46,815,289,329		46.344	%
Banco de Chile on behalf of State Street		5,883,852,269		5.825	%
Banchile Corredores de Bolsa S.A		5,232,569,265		5.180	%
Inversiones LQ-SM Limitada		4,854,988,014		4.806	%
Banco Santander on behalf of foreign investors		4,795,357,238		4.747	%
JP Morgan Chase Bank		2,820,104,708		2.792	%
Banco de Chile on behalf of non-resident third parties		2,550,281,331		2.525	%
Ever Chile SPA		1,888,369,814		1.869	%
Banco Santander Chile		1,647,612,410		1.631	%
Ever 1 BAE SPA		1,166,584,950		1.155	%
BCI Corredores de Bolsa S.A.		1,024,327,875		1.014	%
Larraín Vial S.A. Corredora de Bolsa		959,698,802		0.950	%
Banco de Chile on behalf of Citibank New York		890,889,180		0.882	%
Inversiones Avenida Borgoño Limitada		728,439,279		0.721	%
A.F.P Habitat S.A. for A Fund		681,274,358		0.674	%
Santander Corredores de Bolsa Limitada		619,644,666		0.613	%
Valores Security S.A. Corredores de Bolsa		521,900,490		0.517	%
BTG Pactual Chile S.A. Corredores de Bolsa		510,201,884		0.505	%
A.F.P Cuprum S.A. for A Fund		492,665,765		0.488	%
Inversiones CDP SPA		487,744,912		0.482	%
Subtotal		84,571,796,539		83.720	%
Other shareholders		16,445,284,575		16.280	%
Total		101,017,081,114		100.000	%

115

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28.

Equity, continued:

(a)

Capital, continued:

(i)

Authorized, subscribed and paid shares, continued:

	As of December 31, 2024
	Number of Shares		% of Equity Holding
Corporate Name or Shareholders’s name
LQ Inversiones Financieras S.A.		46,815,289,329		46.344	%
Banco de Chile on behalf of State Street		6,125,765,969		6.064	%
Banchile Corredores de Bolsa S.A		5,123,539,720		5.072	%
Banco Santander on behalf of foreign investors		5,080,833,862		5.030	%
Inversiones LQ-SM Limitada		4,854,988,014		4.806	%
JP Morgan Chase Bank		3,041,703,508		3.011	%
Banco de Chile on behalf of non-resident third parties		2,666,777,747		2.640	%
Banco Santander Chile		1,941,976,163		1.922	%
Ever Chile SPA		1,888,369,814		1.869	%
Ever 1 BAE SPA		1,166,584,950		1.155	%
Larraín Vial S.A. Corredora de Bolsa		1,042,343,304		1.032	%
Banco de Chile on behalf of Citibank New York		1,038,850,995		1.028	%
BCI Corredores de Bolsa S.A.		989,711,426		0.980	%
Inversiones Avenida Borgoño Limitada		728,439,279		0.721	%
Santander Corredores de Bolsa Limitada		581,788,686		0.576	%
A.F.P Habitat S.A. for A Fund		527,598,687		0.522	%
Valores Security S.A. Corredores de Bolsa		516,192,449		0.511	%
A.F.P Cuprum S.A. for A Fund		492,665,765		0.488	%
Inversiones CDP SPA		487,744,912		0.483	%
BTG Pactual Chile S.A. Corredores de Bolsa		463,503,644		0.459	%
Subtotal		85,574,668,223		84.713	%
Other shareholders		15,442,412,891		15.287	%
Total		101,017,081,114		100.000	%

116

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28.

Equity, continued:

(a)

Capital, continued:

(ii)

The following table shows the changes in shares from December 31, 2024 to March 31, 2025:

				Total
				Ordinary
				Shares

Total shares as of December 31, 2024				101,017,081,114

Total shares as of March 31, 2025				101,017,081,114

(b)

Approval and payment of dividends:

At the Bank Ordinary Shareholders’ Meeting held on March 27, 2025 it was approved the distribution and payment of dividend No. 213 of Ch$9.85357420889 per share of the Banco de Chile, with charge to the net distributable income for the year 2024. The dividends paid in the in the period 2025 amounted to Ch$995,380 million.

At the Bank Ordinary Shareholders’ Meeting held on March 28, 2024 it was approved the distribution and payment of dividend No. 212 of Ch$8.07716286860 per share of the Banco de Chile, with charge to the net distributable income for the year 2023. The dividends paid in the in the period 2024 amounted to Ch$815,932 million.

(c)

Provision for minimum dividends:

The Board of Directors of Banco de Chile agreed for the purposes of minimum dividends, to establish a provision of 60% of the net income resulting from reducing or adding to the net income for the corresponding year, the value effect of the monetary unit of paid capital and reserves, as a result of any change in the Consumer Price Index (CPI) between the month prior to the current month and the month of November of the previous year. The amount to be reduced of the liquid income for the period ended as of March 31, 2025 amounted to Ch$73,050 million (Ch$212,012 million as of December 31, 2024).

As indicated, as of March 31, 2025, the amount of the net income determined in accordance with the preceding paragraph is equivalent to Ch$255,894 million (Ch$995,380 million as of December 31, 2024). Consequently, the Bank recorded a provision for minimum dividends under “Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued” as of March 31, for an amount of Ch$153,537 million (Ch$597,228 million in December 2024), which reflects as a counterpart an equity reduction for the same amount in the item “Retained earnings”.

117

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28.

Equity, continued:

(d)

Earnings per share:

(i)

Basic earnings per share:

Basic earnings per share are determined by dividing the net income attributable to the Bank ordinary equity holders in a year between the weighted average number of shares outstanding during that year, excluding the average number of own shares held throughout the period.

(ii)

Diluted earnings per share:

In order to calculate the diluted earnings per share, both the amount of income attributable to common shareholders and the weighted average number of shares outstanding, net of own shares, must be adjusted for all the inherent dilutive effects to the potential common shares (stock options, warrants and convertible debt).

Accordingly, the basic and diluted earnings per share as of March 31, 2025 and 2024 were determined as follows:

	March		March
	2025		2024
Basic earnings per share:
Net profits attributable to ordinary equity holders of the bank (in million of Chilean pesos)		328,944		297,655
Weighted average number of ordinary shares		101,017,081,114		101,017,081,114
Earning per shares (in Chilean pesos)		3.26		2.95

Diluted earnings per share:
Net profits attributable to ordinary equity holders of the bank (in million of Chilean pesos)		328,944		297,655
Weighted average number of ordinary shares		101,017,081,114		101,017,081,114
Assumed conversion of convertible debt		—		—
Adjusted number of shares		101,017,081,114		101,017,081,114
Diluted earnings per share (in Chilean pesos)		3.26		2.95

As of March 31, 2025 and 2024, the Bank does not have instruments that generate dilutive effects.

118

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28.

Equity, continued:

(e)

Other comprehensive income:

Below is the composition and changes of accumulated other comprehensive income as of March 31, 2025 and 2024:

	Elements that will not be reclassified in profit or loss								Elements that can be reclassified in profit or loss
	New measurements of net defined benefit liability and actuarial results for other employee benefit plans		Fair value changes of equity instruments designated as at fair value through other comprehensive income		Income tax		Subtotal		Fair value changes of financial assets at fair value through other comprehensive income	Cash flow accounting hedge		Participation in other comprehensive income of entities registered under the equity method		Income tax		Subtotal		Total
	MCh$		MCh$		MCh$		MCh$		MCh$	MCh$		MCh$		MCh$		MCh$		MCh$

Opening balances as of January 1, 2024	(413	)	9,668		(2,499	)	6,756		9,142	9,401		(74	)	(983	)	17,486		24,242
Other comprehensive income for the period	115		518		(171	)	462		6,440	(5,247	)	7		(1,012	)	188		650
Balances as of March 31, 2024	(298	)	10,186		(2,670	)	7,218		15,582	4,154		(67	)	(1,995	)	17,674		24,892

Opening balances as of January 1, 2025	(298	)	9,456		(1,606	)	7,552		4,478	(12,397	)	(48	)	4,192		(3,775	)	3,777
Other comprehensive income for the period	(62	)	(1,492	)	(101	)	(1,655	)	2,303	(9,884	)	5		2,419		(5,157	)	(6,812	)
Balances as of March 31, 2025	(360	)	7,964		(1,707	)	5,897		6,781	(22,281	)	(43	)	6,611		(8,932	)	(3,035	)

During 2025, a reclassification was made from comprehensive income to equity reserves as a result of the sale of equity instruments irrevocably designated at fair value for Ch$1,916 million.

(e)

Retained earnings from previous years:

During the year 2025, the Ordinary Shareholders Meeting of Banco de Chile agreed to deduct and withhold from the year 2024 liquid income, an amount equivalent to the value effect of the monetary unit of paid capital and reserves according to the variation in the Consumer Price Index, which occurred between November 2023 and November 2024, amounting to Ch$212,012 million.

119

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29.

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:

	March		December
	2025		2024
	MCh$		MCh$
Guarantees and sureties
Guarantees and sureties in chilean currency		—		—
Guarantees and sureties in foreign currency		357,699		336,737

Letters of credit for goods circulation operations		455,951		442,216

Debt purchase commitments in local currency abroad		—		—

Transactions related to contingent events
Transactions related to contingent events in chilean currency		2,315,123		2,544,288
Transactions related to contingent events in foreign currency		576,011		580,338

Undrawn credit lines with immediate termination
Balance of lines of credit and agreed overdraft in current account – commercial loans		1,651,189		1,642,163
Balance of lines of credit on credit card – commercial loans		353,196		359,638
Balance of lines of credit and agreed overdraft in current account – consumer loans		1,506,143		1,497,076
Balance of lines of credit on credit card – consumer loans		7,694,312		7,626,423
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		40,764		51,889

Other credit commitments		—		—
Total		14,950,388		15,080,768

(a.2)

Responsibilities assumed to meet customer needs:

	March		December
	2025		2024
	MCh$		MCh$

Transactions on behalf of third parties
Collections		174,833		214,446
Placement or sale of financial instruments		—		—
Transferred financial assets managed by the bank		—		—
Third-party resources managed by the bank		1,149,320		1,147,660
Subtotal		1,324,153		1,362,106

Securities custody
Securities safekept by a banking subsidiary		8,203,591		7,443,549
Securities safekept by the Bank		3,962,122		3,318,810
Securities safekept deposited in another entity		20,794,274		19,509,831
Securities issued by the bank		—		—
Subtotal		32,959,987		30,272,190

Total		34,284,140		31,634,296

120

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29.

Contingencies and Commitments, continued:

(b)

Lawsuits and legal proceedings:

(b.1)

Normal judicial contingencies in the industry:

At the date of issuance of these Interim Consolidated Financial Statements, there are legal actions filed against the Bank related with the ordinary course operations. As of March 31, 2025, the Bank maintain provisions for judicial contingencies amounting to Ch$1,849 million (Ch$1,592 million as of December 2024), 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 March 31, 2025
	2025		2026		2027		2028		2029		Total
	MCh		$MCh		$MCh		$MCh		$MCh		$MCh$

Legal contingencies		954		488		407		—		—		1,849

(b.2)

Contingencies for significant lawsuits in courts:

As of March 31, 2025 and December 31, 2024, there are not significant lawsuits in court that affect or may affect these Interim Consolidated Financial Statements.

(c)

Guarantees granted by operations:

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 4,872,400 maturing January 7, 2026. The subsidiary took a policy with Mapfre Seguros Generales S.A. for the Real State Funds by a guaranteed amount of UF 722,700.

As of March 31, 2025 and 2024, 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.

121

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29.

Contingencies and Commitments, continued:

(c)

Guarantees granted by operations, continued:

	March		December
	2025		2024
	MCh$		MCh$
Guarantees:
Shares received as collateral for simultaneous operations:
Santiago Securities Exchange, Stock Exchange		13,909		9,171
Electronic Chilean Securities Exchange, Stock Exchange		46,807		32,024

Fixed income securities delivered to guarantee CCLV system:
Santiago Securities Exchange, Stock Exchange		7,843		7,843

Fixed income securities as collateral for the Santiago Stock Exchange		2,148		2,148

Shares delivered to guarantee equity lending and short-selling:
Santiago Securities Exchange, Stock Exchange		8,626		4,744

Cash guarantees received for operations with derivatives		3,871		3,931
Cash guarantees for operations with derivatives		2,693		4,043

Equity securities received for operations with derivatives:
Electronic Chilean Securities Exchange, Stock Exchange		—		101
Depósito Central de Valores S.A.		848		2,227

Total		86,745		66,232

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 Banchile 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 410,800 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 8, 2026.

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$1,376,176.42 for variable income operations.

122

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29.

Contingencies and Commitments, continued:

(c)

Guarantees granted by operations, continued:

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 March 31, 2025 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 liability policy (*)			60,000

(*)

The new policies contracted will come into effect as of April 15, 2025, both expiring on April 14, 2026.

(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.

123

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

30.

Interest Revenue and Expenses:

(a)

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

	March			March
	2025			2024
	MCh$			MCh$

Interest revenue		664,976			800,766
Interest expenses		(235,414	)		(337,325	)
Total net interest income		429,562			463,441

(b)

The composition of interest revenue is as follows:

	March			March
	2025			2024
	MCh$			MCh$

Financial assets at amortized cost:
Rights from resale agreements and securities lending		1,374			1,231
Debt financial instruments		3,403			33,919
Loans and advances to Banks		13,907			30,640
Commercial loans		308,207			359,935
Residential mortgage loans		109,546			98,109
Consumer Loans		203,823			207,712
Other financial instruments		10,851			19,152
Financial assets at fair value through other comprehensive income:
Debt financial instruments		23,701			60,339
Other financial instruments		—			—
Income of accounting hedges of interest rate risk		(9,836	)		(10,271	)
Total		664,976			800,766

(b.1)

At the end of the period, the stock of interest not recognized in income is as follows:

	March		March
	2025		2024
	MCh$		MCh$

Commercial loans		37,536		39,847
Residential mortgage loans		7,267		4,558
Consumer Loans		3,280		4,505
Total		48,083		48,910

124

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

30.

Interest Revenue and Expenses, continued:

(c)

The composition of interest expenses is as follows:

	March			March
	2025			2024
	MCh$			MCh$

Financial liabilities at amortized cost:
Current accounts and other demand deposits		267			542
Saving accounts and time deposits		156,503			253,119
Obligations by repurchase agreements and securities lending		2,346			4,167
Borrowings from financial institutions		15,470			21,726
Debt financial instruments issued		66,570			63,424
Other financial obligations		—			—
Lease liabilities		564			624
Financial instruments of regulatory capital issued		8,704			8,505
Income of accounting hedges of interest rate risk		(15,010	)		(14,782	)
Total		235,414			337,325

(d)

As of March 31, 2025 and 2024, 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

	March 2025									March 2024
	Income			Expense			Total			Income			Expense			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Gain from fair value accounting hedges		—			—			—			—			—			—
Loss from fair value accounting hedges		—			—			—			—			—			—
Gain from cash flow accounting hedges		4,062			22,010			26,072			2,790			19,904			22,694
Loss from cash flow accounting hedges		(13,898	)		(7,000	)		(20,898	)		(13,061	)		(5,122	)		(18,183	)
Net gain on hedge items		—			—			—			—			—			—
Total		(9,836	)		15,010			5,174			(10,271	)		14,782			4,511

125

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

31.

UF indexation revenue and expenses:

(a)

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

	March			March
	2025			2024
	MCh$			MCh$

UF indexation revenue		249,053			154,693
UF indexation expenses		(132,944	)		(87,800	)
Total net income from UF indexation		116,109			66,893

(b)

The composition of UF indexation revenue is as follows

	March			March
	2025			2024
	MCh$			MCh$

Financial assets at amortized cost:
Rights from resale agreements and securities lending		—			—
Debt financial instruments		7,654			4,936
Loans and advances to Banks		—			—
Commercial loans		93,604			59,326
Residential mortgage loans		162,910			101,460
Consumer Loans		354			263
Other financial instruments		718			1,020
Financial assets at fair value through other comprehensive income:
Debt financial instruments		8,821			4,886
Other financial instruments		—			—
Income of accounting hedges of UF, IVP, IPC indexation risk		(25,008	)		(17,198	)
Total		249,053			154,693

(b.1)

At the end of the period, the stock of UF indexation not recognized in results is as follows:

	March		March
	2025		2024
	MCh$		MCh$

Commercial loans		4,764		4,717
Residential mortgage loans		9,266		6,385
Consumer Loans		11		12
Total		14,041		11,114

126

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

31.

UF indexation revenue and expenses, continued:

(c)

The composition of UF indexation expenses is as follows:

	March		March
	2025		2024
	MCh$		MCh$

Financial liabilities at amortized cost:
Current accounts and other demand deposits		6,695		4,028
Saving accounts and time deposits		20,836		15,313
Obligations by repurchase agreements and securities lending		—		—
Borrowings from financial institutions		—		—
Debt financial instruments issued		92,283		59,957
Other financial obligations		—		—
Financial instruments of regulatory capital issued		13,130		8,502
Income of accounting hedges of UF, IVP, IPC indexation risk		—		—
Total		132,944		87,800

(d)

As of March 31, 2025 and 2024, the Bank uses cross currency swaps to hedge the risk of variability of obligations flows with foreign banks and bonds issued in foreign currency.

	March 2025								March 2024
	Income			Expense		Total			Income			Expense		Total
	MCh$			MCh$		MCh$			MCh$			MCh$		MCh$

Gain from fair value accounting hedges		—			—		—			—			—		—
Loss from fair value accounting hedges		—			—		—			—			—		—
Gain from cash flow accounting hedges		1,691			—		1,691			3,087			—		3,087
Loss from cash flow accounting hedges		(26,699	)		—		(26,699	)		(20,285	)		—		(20,285	)
Net gain on hedge items		—			—		—			—			—		—
Total		(25,008	)		—		(25,008	)		(17,198	)		—		(17,198	)

127

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

32.

Income and Expenses from commissions:

The income and expenses for commissions that are shown in the Interim Consolidated Statement of Income for the period is as following:

	March			March
	2025			2024
	MCh$			MCh$

Income from commissions and services rendered
Comissions from card services		64,176			56,716
Remuneration from administration of mutual funds, investment funds or others		39,796			32,396
Comissions from collections and payments		18,670			20,011
Comissions from portfolio management		17,797			17,104
Comissions from guarantees and letters of credit		10,271			10,033
Brand use agreement		7,732			6,903
Insurance not related to the granting of credits to natural persons		6,391			6,184
Comissions from trading and securities management		5,589			4,710
Use of distribution channel		4,936			7,623
Comissions from credit prepayments		3,585			3,478
Insurance related to the granting of credits to natural persons		1,989			3,931
Insurance not related to the granting of credits to legal entities		1,631			1,695
Financial advisory services		1,249			88
Comissions from lines of credit and current account overdrafts		1,231			1,246
Insurance related to the granting of credits to legal entities		444			409
Comissions from factoring operations services		307			322
Loan commissions with letters of credit		6			18
Other commission earned		7,193			7,070
Total		192,993			179,937

Expenses from commissions and services received
Commissions from card transactions		(17,360	)		(14,790	)
Interbank transactions		(6,574	)		(9,466	)
Expenses from obligations of loyalty and merit card customers programs		(6,089	)		(12,548	)
Commissions from use of card brands license		(2,571	)		(2,055	)
Comissions from securities transaction		(1,461	)		(1,397	)
Collections and payments		(1,028	)		(1,055	)
Other commissions from services received		(1,061	)		(1,154	)
Total		(36,144	)		(42,465	)

Total Net		156,849			137,472

128

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

33.

Net Financial income (expense):

(a)

The amount of net financial income (expense) shown in the Interim Consolidated Income Statement for the period corresponds to the following concepts:

	March			March
	2025			2024
	MCh$			MCh$
Financial result from:
Financial assets held for trading at fair value through profit or loss:
Financial derivative contracts		422,477			1,485,184
Debt Financial Instruments		34,451			57,943
Other financial instruments		5,188			8,048

Financial liabilities held for trading at fair value through profit or loss:
Financial derivative contracts		(419,859	)		(1,554,945	)
Other financial instruments		(111	)		(473	)
Subtotal		42,146			(4,243	)

Non-trading financial assets mandatorily measured at fair value through profit or loss:
Debt Financial Instruments		—			—
Other financial instruments		—			—

Financial assets designated as at fair value through profit or loss:
Debt Financial Instruments		—			—
Other financial instruments		—			—

Financial liabilities designated as at fair value through profit or loss:
Current accounts and other demand deposits and savings accounts and other time deposits		—			—
Debt instruments issued		—			—
Others		—			—

Derecognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income:
Financial assets at amortized cost		—			—
Financial assets at fair value through other comprehensive income		1,013			2,539
Financial liabilities at amortized cost		—			—
Financial instruments of regulatory capital issued		—			—
Subtotal		1,013			2,539

Exchange, indexation and accounting hedging of foreign currency:
Gain (loss) from foreign currency exchange		77,993			(92,553	)
Gain (loss) from indexation for exchange rate		(8,270	)		17,209
Net gain (loss) from derivatives in accounting hedges of foreign currency risk		(52,240	)		181,791
Subtotal		17,483			106,447

Reclassification of financial assets for changes to business models:
From financial assets at amortized cost to financial assets held for trading at fair value through profit or loss		—			—
From financial assets at fair value through other comprehensive income to financial assets held for trading at fair value through profit or loss		—			—

Modifications of financial assets and liabilities:
Financial assets at amortized cost		—			—
Financial assets at fair value through other comprehensive income		—			—
Financial liabilities at amortized cost		—			—
Lease liabilities		—			—
Financial instruments of regulatory capital issued		—			—

Ineffective accounting hedges:
Gain (loss) from ineffective cash flow accounting hedges		—			—
Gain (loss) from ineffective accounting hedges of net investment abroad		—			—

Other type of accounting hedges:
Hedges of other types of financial assets		—			—

Total		60,642			104,743

129

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

33.

Net Financial income (expense), continued:

(b)

Below is a detail of the income (expense) associated with the changes of provisions constituted for credit risk related to loans and contingent loans denominated in foreign currency, which is reflected in “Exchange, indexation and accounting hedging of foreign currency”.

	March		March
	2025		2024
	MCh$		MCh$

Loans and advances to Banks		28		(85	)
Commercial loans		3,262		(9,413	)
Residential mortgage loans		—		—
Consumer loans		88		(114	)
Contingent loans		719		(1,351	)
Total		4,097		(10,963	)

34.

Income attributable to investments in other companies:

The income obtained from investments in companies detailed in note No. 14 corresponds to the following:

		March		March
Company	Shareholder	2025		2024
		MCh$		MCh$
Income attributable to investments in other companies:

Associates
Transbank S.A.	Banco de Chile		739		(1,058	)
Centro de Compensación Automatizado S.A.	Banco de Chile		364		263
Redbanc S.A.	Banco de Chile		212		184
Administrador Financiero de Transantiago S.A.	Banco de Chile		86		102
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile		78		70
Servicios de Infraestructura de Mercado OTC S.A.	Banco de Chile		48		21
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile		47		6
Subtotal Associates			1,574		(412	)

Joint Ventures
Servipag Ltda.	Banco de Chile		160		459
Artikos Chile S.A.(*)	Banco de Chile		—		142
Subtotal Joint Ventures			160		601
Subtotal			1,734		189

Minority Investments
Banco Latinoamericano de Comercio Exterior S.A. (Bladex)	Banco de Chile		—		29
Subtotal Minority Investments			—		29

Total Investments in other companies			1,734		218

(*) On September 26, 2024, at a Board meeting, it was agreed to accept the binding purchase offer presented by the Santiago Chamber of Commerce A.G. for 100% of the shares of Artikos Chile S.A. (“Artikos”).

130

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

35.

Result from non-current assets and disposal groups held for sale not admissible as discontinued operations:

The composition of the results of non-current assets and disposal groups not eligible as discontinued operations during the periods 2025 and 2024 is as follows:

	March			March
	2025			2024
	MCh$			MCh$

Net income from assets received in payment or adjudicated in judicial auction
Gain (loss) on sale of assets received in lieu of payment or foreclosed at judicial auction		3,113			1,874
Other income from assets received in payment or foreclosed at judicial auction		9			3
Provisions for adjustments to net realizable value of assets received in lieu of payment or foreclosed at judicial auction		(438	)		(388	)
Charge-off assets received in lieu of payment or foreclosed at judicial auction		(5,459	)		(2,511	)
Expenses to maintain assets received in lieu of payment or foreclosed at judicial auction		(138	)		(174	)
Non-current assets held for sale
Investments in other companies		—			—
Intangible assets		—			—
Property and equipment		2,111			88
Assets for recovery of assets transferred in financial leasing operations		1,042			95
Other assets		—			—
Disposal groups held for sale		—			—
Total		240			(1,013	)

36.

Other operating Income and Expenses:

During the periods 2024 and 2024, the Bank and its subsidiaries present other operating income, according to the following:

	March		March
	2025		2024
	MCh$		MCh$

Expense recovery		6,760		6,226
Revaluation of tax refunds from previous years		5,300		—
Income from investment properties		1,726		1,703
Revaluation of prepaid monthly payments		119		427
Foreign trade income		23		26
Others income		152		210
Total		14,080		8,592

131

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

36.

Other operating Income and Expenses, continued:

During the periods 2025 and 2024, the Bank and its subsidiaries present other operating expenses, according to the following:

	March			March
	2025			2024
	MCh$			MCh$

Write-offs for operating risks		7,261			7,995
Insurance premiums expense to cover operational risk events		1,564			1,528
Expenses for credit operations of financial leasing		1,547			1,392
Card administration		924			315
Legal expenses and trials		433			1,253
Provision for pending operations (90 days)		307			101
Provisions for trials and litigation		257			(69	)
Write-offs for commercial decisions		154			50
Valuation expense		85			60
Life insurance		79			73
Renegotiated loan insurance premium		51			63
Expenses for charge-off leased assets recoveries		8			33
(Release) expense of provisions for operational risk		(353	)		—
Expense recovery from operational risk events		(3,076	)		(3,054	)
Other expenses		129			(25	)
Total		9,370			9,715

37.

Expenses from salaries and employee benefits:

The composition of the expense for employee benefit obligations during the periods 2025 and 2024 is as follows:

	March		March
	2025		2024
	MCh$		MCh$

Expenses for short-term employee benefit		130,600		132,760
Expenses for employee benefits due to termination of employment contract		7,311		5,480
Training expenses		777		904
Expenses for nursery and kindergarten		406		376
Other personnel expenses		1,822		1,890
Total		140,916		141,410

132

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

38.

Administrative expenses:

This item is composed as follows:

	March		March
	2025		2024
	MCh$		MCh$
General administrative expenses
Information technology and communications		39,928		39,166
Maintenance and repair of property and equipment		12,397		13,722
Surveillance and securities transport services		3,043		3,117
Office supplies		2,476		2,159
External financial information and fraud prevention service		2,365		2,025
External advisory services and professional services fees		2,232		2,142
Energy, heating and other utilities		1,783		1,579
Legal and notary expenses		1,533		1,267
External service of custody of documentation		1,299		1,105
Expenses for short-term leases		1,112		651
Postal box, mail, postage and home delivery services		1,092		1,523
Other expenses of obligations for lease contracts		973		1,165
Insurance premiums except to cover operational risk events		963		1,141
Representation and travel expenses		682		627
Donations		663		1,383
Card embossing service		457		555
Fees for other technical reports		226		260
Fees for review and audit of the financial statements by the external auditor		226		201
Expenses for leases low value		134		138
Fines applied by other agencies		12		7
Title classification fees		7		19
Other general administrative expenses		5,068		5,275

Outsource services
Technological developments expenses, certification and technology testing		5,347		6,479
Data processing		2,635		2,618
External credit evaluation service		1,360		1,202
External collection service		1,137		1,209
External human resources administration services and supply of external personnel		547		535
Call Center service for sales, marketing, quality control customer service		197		568
External cleaning service, casino, custody of files and documents, storage of furniture and equipment		54		126
Other outsource services		284		198

Board expenses
Board of Directors Compensation		846		810
Other Board expenses		17		16

Marketing		9,544		9,604

Taxes, contributions and other legal charges
Contribution to the banking regulator		3,610		3,808
Property taxes		1,661		1,666
Taxes other than income tax		736		670
Municipal patents		435		471
Other legal charges		15		16
Total		107,096		109,223

133

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

39.

Depreciation and Amortization:

The amounts corresponding to charges to results for depreciation and amortization during the periods 2025 and 2024, are detailed as follows:

	March		March
	2025		2024
	MCh$		MCh$

Amortization of intangibles assets
Other intangible assets arising from business combinations		—		—
Other independently originated intangible assets		10,026		8,558
Depreciation of property and equipment
Buildings and land		2,458		2,417
Other property and equipment		3,735		5,146
Depreciation and impairment of leased assets
Buildings and land		7,075		6,910
Other property and equipment		—		—
Depreciation for improvements in leased real estate as leased of right-to-use assets		264		282
Amortization for the right-to-use other intangible assets under lease		—		—
Depreciation of other assets for investment properties		89		89
Amortization of other assets per activity income asset		—		—
Total		23,647		23,402

40.

Impairment of non-financial assets:

As of March 31, 2025 and 2024, the composition of the item for impairment of non-financial assets is composed as follows:

	March		March
	2025		2024
	MCh$		MCh$

Impairment of intangible assets		—		—
Impairment of property and equipment		5		—
Impairment of assets from income from ordinary activities from contracts with customers		4		94
Total		9		94

134

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41.

Credit loss expense:

(a)

The composition is as follows:

	March			March
	2025			2024
	MCh$			MCh$

Expense of provisions established for loan credit risk		149,489			118,806
Expense of special provisions for credit risk		(42,622	)		6,038
Recovery of written-off credits		(16,720	)		(13,161	)
Impairments for credit risk from financial assets at fair value through other comprehensive income		57			1,485
Total		90,204			113,168

(b)

Summary of the expense of provisions constituted for credit risk and expense for credit losses:

	Expense of loans provisions constituted in the period
	Normal Portfolio				Substandard Portfolio				Non-Complying Portfolio				Deductible warranty
	Evaluation				Evaluation				Evaluation				Fogape
As of March 31, 2025	Individual		Group		Individual		Individual		Group		Subtotal		Covid-19			Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$
Loans and advances to Banks
Provisions established		40		—		—		—		—		40		—			40
Provisions released		—		—		—		—		—		—		—			—
Subtotal		40		—		—		—		—		40		—			40
Commercial loans
Provisions established		9,007		383		1,117		2,242		15,287		28,036		—			28,036
Provisions released		—		—		—		—		—		—		(196	)		(196	)
Subtotal		9,007		383		1,117		2,242		15,287		28,036		(196	)		27,840
Residential mortgage loans
Provisions established		—		425		—		—		2,693		3,118		—			3,118
Provisions released		—		—		—		—		—		—		—			—
Subtotal		—		425		—		—		2,693		3,118		—			3,118
Consumer loans
Provisions established		—		47,521		—		—		70,970		118,491		—			118,491
Provisions released		—		—		—		—		—		—		—			—
Subtotal		—		47,521		—		—		70,970		118,491		—			118,491
Expense (release) of provisions for credit risk		9,047		48,329		1,117		2,242		88,950		149,685		(196	)		149,489

Recovery of written-off credits
Loans and advances to Banks																	—
Commercial loans																	(3,237	)
Residential mortgage loans																	(2,479	)
Consumer loans																	(11,004	)
Subtotal																	(16,720	)
Loan credit loss expenses																	132,769

135

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41.

Credit loss expense, continued:

(b)

Summary of the expense of provisions constituted for credit risk and expense for credit losses, continued;

	Expense of loans provisions constituted in the period
	Normal Portfolio					Normal Portfolio					Non-Complying Portfolio					Deductible warranty
	Evaluation					Evaluation					Evaluation					Fogape
As of March 31, 2024	Individual		Group			Individual			Individual		Group		Subtotal			Covid-19			Total
	MCh$		MCh$			MCh$			MCh$		MCh$		MCh$			MCh$			MCh$
Loans and advances to Banks
Provisions established		—		—			—			—		—		—			—			—
Provisions released		—		—			—			—		—		—			—			—
Subtotal		—		—			—			—		—		—			—			—
Commercial loans
Provisions established		8,315		647			—			9,426		15,732		34,120			—			34,120
Provisions released		—		—			(136	)		—		—		(136	)		(2,302	)		(2,438	)
Subtotal		8,315		647			(136	)		9,426		15,732		33,984			(2,302	)		31,682
Residential mortgage loans
Provisions established		—		42			—			—		2,264		2,306			—			2,306
Provisions released		—		—			—			—		—		—			—			—
Subtotal		—		42			—			—		2,264		2,306			—			2,306
Consumer loans
Provisions established		—		—			—			—		93,563		93,563			—			93,563
Provisions released		—		(8,745	)		—			—		—		(8,745	)		—			(8,745	)
Subtotal		—		(8,745	)		—			—		93,563		84,818			—			84,818
Expense (release) of provisions for credit risk		8,315		(8,056	)		(136	)		9,426		111,559		121,108			(2,302	)		118,806

Recovery of written-off credits
Loans and advances to Banks																				—
Commercial loans																				(3,138	)
Residential mortgage loans																				(1,423	)
Consumer loans																				(8,600	)
Subtotal																				(13,161	)
Loan credit loss expenses																				105,645

136

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41.

Credit loss expense, continued:

(c)

Summary of expense for special provisions for credit risk:

	March			March
	2025			2024
	MCh$			MCh$
Expenses of provisions for contingent loans:
Loans and advances to Banks		—			—
Commercial loans		(1,006	)		3,017
Consumer loans		28,238			(316	)
Expenses form provisions for country risk for transactions with debtors with residence abroad		(819	)		3,337
Expense of special provisions for loans abroad		—			—
Expenses of additional loan provisions:
Commercial loans		(69,035	)		—
Residential mortgage loans		—			—
Consumer loans		—			—
Expense of other special provisions established for credit risk		(42,622	)		6,038

42.

Income from discontinued operations:

As of March 31, 2025 and 2024, the Bank does not maintain income from discontinued operations.

43.

Related Party Disclosures:

Related parties are considered to be those natural or legal persons who are in positions to directly or indirectly have significant influence through their ownership or management of the Bank and its subsidiaries, as set out in the Compendium of Accounting Standards for Banks and Chapter 12-4 of the current Compilation of Standards issued by the CMF.

According to the above, the Bank has considered as related parties those natural or legal persons who have a direct participation or through third parties on Bank ownership, where such participation exceeds 5% of the shares, and also people who, regardless of ownership, have authority and responsibility for planning, management and control of the activities of the entity or its subsidiaries. There also are considered as related the companies in which the parties related by ownership or management of the Bank have a share which reaches or exceeds 5%, or has the position of director, general manager or equivalent.

137

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(a)

Assets and liabilities with related parties:

	Related Party Type
Type of current assets and liabilities with related parties As of March 31, 2025	Parent Entity		Other Legal Entity			Key Personnel of the Consolidated Bank			Other Related Parties			Total
	MCh$		MCh$			MCh$			MCh$			MCh$
ASSETS
Financial assets held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		264,771			—			—			264,771
Debt financial instruments		—		—			—			—			—
Other financial instruments		—		4,670			—			—			4,670
Non-trading financial assets mandatorily measured at fair value through profit or loss		—		—			—			—			—
Financial assets designated as at fair value through profit or loss		—		—			—			—			—
Financial assets at fair value through other comprehensive income		—		5,504			—			—			5,504
Derivative Financial Instruments for hedging purposes		—		—			—			—			—
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—			—			—			—
Debt financial instruments		—		—			—			—			—
Commercial loans		—		166,151			1,901			10,096			178,148
Residential mortgage loans		—		—			15,030			58,389			73,419
Consumer Loans		—		—			1,590			10,416			12,006
Allowances established – loans		—		(1,522	)		(55	)		(404	)		(1,981	)
Other assets		16		178,698			4			42			178,760
Contingent loans		—		141,257			4,163			17,619			163,039

LIABILITIES
Financial liabilities held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		298,862			—			—			298,862
Financial liabilities designated as at fair value through profit or loss		—		—			—			—			—
Derivative Financial Instruments for hedging purposes		—		5,208			—			—			5,208
Financial liabilities at amortized cost:
Current accounts and other demand deposits		229		136,775			2,847			6,279			146,130
Saving accounts and time deposits		246,306		106,605			4,366			21,496			378,773
Obligations by repurchase agreements and securities lending		—		2,001			—			—			2,001
Borrowings from financial institutions		—		49,936			—			—			49,936
Debt financial instruments issued		—		—			—			—			—
Other financial obligations		—		—			—			—			—
Lease liabilities		—		8,761			—			—			8,761
Other liabilities		—		151,804			130			6			151,940

138

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(a)

Assets and liabilities with related parties, continued:

Related Party Type

Type of current assets and liabilities with related parties As of December 31, 2024 Parent Entity Other
Legal Entity Key Personnel
of the
Consolidated
Bank Other Related
Parties Total

MCh$ MCh$ MCh$ MCh$ MCh$

ASSETS

Financial assets held for trading at fair value through profit or loss:

Derivative Financial Instruments — 273,492 — — 273,492

Debt financial instruments — — — — —

Other financial instruments — — — — —

Non-trading financial assets mandatorily measured at fair value through profit or loss — — — — —

Financial assets designated as at fair value through profit or loss — — — — —

Financial assets at fair value through other comprehensive income — 5,388 — — 5,388

Derivative Financial Instruments for hedging purposes — — — — —

Financial assets at amortized cost:

Rights from resale agreements and securities lending — — — — —

Debt financial instruments — — — — —

Commercial loans — 266,912 1,291 9,967 278,170

Residential mortgage loans — — 14,694 59,861 74,555

Consumer Loans — — 1,656 11,482 13,138

Allowances established – loans — (1,291 ) (30 ) (326 ) (1,647 )

Other assets 16 132,549 38 7 132,610

Contingent loans — 159,749 3,822 17,761 181,332

LIABILITIES

Financial liabilities held for trading at fair value through profit or loss:

Derivative Financial Instruments — 300,756 — — 300,756

Financial liabilities designated as at fair value through profit or loss — — — — —

Derivative Financial Instruments for hedging purposes — 3,137 — — 3,137

Financial liabilities at amortized cost:

Current accounts and other demand deposits 170 141,497 2,860 6,844 151,371

Saving accounts and time deposits 151,595 78,618 3,093 19,082 252,388

Obligations by repurchase agreements and securities lending — — — — —

Borrowings from financial institutions — 3,175 — — 3,175

Debt financial instruments issued — — — — —

Other financial obligations — — — — —

Lease liabilities — 9,200 — — 9,200

Other liabilities — 140,479 532 5 141,016

139

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(b)

Income and expenses from related party transactions (*):

As of March 31, 2025	Parent Entity		Other Legal Entity		Key personnel of the consolidated Bank		Other Related parties		Total
	MCh$		MCh$		MCh$		MCh$		MCh$
Interest revenue		—		7,858		124		735		8,717
UF indexation revenue		—		572		201		837		1,610
Income from commissions		43		23,617		12		12		23,684
Net Financial income (expense)		—		19,885		—		—		19,885
Other income		—		—		—		—		—
Total Income		43		51,932		337		1,584		53,896

Interest expense		528		604		40		227		1,399
UF indexation expenses		—		—		—		—		—
Expenses from commissions		—		7,400		—		—		7,400
Expenses credit losses (gains)		—		135		30		111		276
Expenses from salaries and employee benefits		—		—		18,291		31,791		50,082
Administrative expenses		—		2,328		882		9		3,219
Other expenses		—		—		—		—		—
Total Expenses		528		10,467		19,243		32,138		62,376

As of March 31, 2024	Parent Entity		Other Legal Entity		Key personnel of the consolidated Bank			Other Related parties			Total
	MCh$		MCh$		MCh$			MCh$			MCh$
Interest revenue		—		3,892		141			740			4,773
UF indexation revenue		—		342		156			573			1,071
Income from commissions		27		23,454		11			22			23,514
Net Financial income (expense)		—		19,299		—			—			19,299
Other income		—		—		—			—			—
Total Income		27		46,987		308			1,335			48,657

Interest expense		746		3,112		99			448			4,405
UF indexation expenses		—		—		3			—			3
Expenses from commissions		—		5,377		—			—			5,377
Expenses credit losses (gains)		—		851		(2	)		(36	)		813
Expenses from salaries and employee benefits		—		16		19,917			32,676			52,609
Administrative expenses		—		2,107		935			34			3,076
Other expenses		—		—		—			3			3
Total Expenses		746		11,463		20,952			33,125			66,286

(*)

This does not constitute a Statement of Income from operations with related parties since the assets with these parties are not necessarily equal to the liabilities and in each of them the total income and expenses are reflected and not those corresponding to matched operations.

140

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(c)

Transactions with related parties: Below are the individual transactions in the period with related parties that are legal entities, which do not correspond to the usual operations of the line of business carried out with customers in general and when said individual transactions consider a transfer of resources, services or obligations greater than UF 2,000.

As of March 31, 2025

	Nature of the relationship	Description of the transaction			Transactions under equivalent conditions to those transactions with mutual independence			Effect on Income				Effect on Financial position
Company name	with the Bank	Type of service	Term	Renewal conditions	between the parties	Amount MCh$		Income MCh$		Expenses MCh$		Accounts receivable MCh$		Accounts payable MCh$

Servipag Ltda.	Joint venture	Collection services	30 days	Contract	Yes		1,017		—		1,017		—		338
Bolsa de Comercio de Santiago, Bolsa de Valores	Minority investments	Brokerage commission	30 days	Contract	Yes		105		—		105		—		72
Enex S.A.	Other related parties	Rent spaces for ATM	30 days	Contract	Yes		663		—		663		—		383
Redbanc S.A.	Associates	Electronic transaction management services	30 days	Contract	Yes		4,701		—		4,701		—		1,617
		IT services	30 days	Contract	Yes		98		—		98		—		—
Depósito Central de Valores S.A.	Other related parties	Quality control and custodial services	30 days	Contract	Yes		170		—		170		—		96
		Custodial services	30 days	Contract	Yes		317		—		317		—		—
CCLV Contraparte Central S.A.	Minority investments	Brokerage commission	30 days	Contract	Yes		97		—		97		—		24
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Associates	Collection services	30 days	Contract	Yes		344		—		344		—		88
Comder Contraparte Central S.A.	Other related parties	Securities clearing services	30 days	Contract	Yes		135		—		135		—		—
Citigroup Global Markets INC	Other related parties	Brokerage commission	30 days	Contract	Yes		121		—		121		—		57
Transbank S.A.	Associates	Card processing	30 days	Contract	Yes		148		—		148		—		74
		Exchange commission	30 days	Contract	Yes		20,595		20,595		—		—		—
Centro de Compensación Automatizado S.A.	Associates	Fraud prevention services	30 days	Contract	Yes		332		—		332		—		—
		Transfer services	30 days	Contract	Yes		688		—		688		—		330
Artikos Chile S.A.	Joint venture	IT services	30 days	Contract	Yes		79		—		79		—		1
Citibank N.A.	Other related parties	Connectivity business commissions	Quarterly	Contract	Yes		1,635		1,635		—		3,441		—
Nuevos Desarrollos S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		49		—		—		—		455
Plaza Vespucio SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		33		—		—		—		125
Plaza Oeste SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		67		—		—		—		758
Plaza del Trebol SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		64		—		—		—		71
Plaza Tobalaba SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		36		—		—		—		80
Plaza La Serena SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		63		—		—		—		558
Inmobiliaria Mall Calama S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		36		—		—		—		105

141

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(c)

Transactions with related parties, continued:

As of December 31, 2024

	Nature of the relationship	Description of the transaction			Transactions under equivalent conditions to those transactions with mutual independence			Effect on Income				Effect on Financial position
Company name	with the Bank	Type of service	Term	Renewal conditions	between the parties	Amount MCh$		Income MCh$		Expenses MCh$		Accounts receivable MCh$		Accounts payable MCh$

Ionix SPA	Other related parties	IT support services	30 days	Contract	Yes		141		—		141		—		—
Servipag Ltda.	Joint venture	IT support services	30 days	Contract	Yes		367		—		367		—		—
		Collection services	30 days	Contract	Yes		4,235		—		4,235		—		387
Bolsa de Comercio de Santiago, Bolsa de Valores	Minority investments	Service of financial information	30 days	Contract	Yes		356		—		356		—		25
		Brokerage commission	30 days	Contract	Yes		423		—		423		—		—
		IT support services	30 days	Contract	Yes		256		—		256		—		—
Enex S.A.	Other related parties	Rent spaces for ATM	30 days	Contract	Yes		1,740		—		1,740		—		498
Universidad del Desarrollo	Other related parties	Advertising service	30 days	Contract	Yes		126		—		126		—		—
Universidad Adolfo Ibáñez	Other related parties	Training	30 days	Contract	Yes		272		—		272		—		—
Bolsa Electrónica de Chile S.A.	Minority investments	Brokerage commission	30 days	Contract	Yes		203		—		203		—		1
		Service of financial information	30 days	Contract	Yes		117		—		117		—		—
DCV Registros S.A.	Other related parties	IT services	30 days	Contract	Yes		294		—		294		—		—
Redbanc S.A.	Associates	Electronic transaction management services	30 days	Contract	Yes		17,658		—		17,658		—		1,707
		IT proyect services	30 days	Contract	Yes		132		—		132		—		—
		Installation services	30 days	Contract	Yes		81		—		81		—		—
		Fraud prevention services	30 days	Contract	Yes		108		—		108		—		—
		IT services	30 days	Contract	Yes		442		—		442		—		—
Depósito Central de Valores S.A.	Other related parties	Quality control and custodial services	30 days	Contract	Yes		833		—		833		—		90
		Custodial services	30 days	Contract	Yes		1,357		—		1,357		—		—
CCLV Contraparte Central S.A.	Minority investments	Brokerage commission	30 days	Contract	Yes		352		—		352		—		22
Manantial S.A.	Other related parties	General expenses	30 days	Contract	Yes		379		—		379		—		—
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Associates	Collection services	30 days	Contract	Yes		881		—		881		—		91
Comder Contraparte Central S.A.	Other related parties	Securities clearing services	30 days	Contract	Yes		529		—		529		—		—
Citigroup Global Markets INC	Other related parties	Brokerage commission	30 days	Contract	Yes		387		—		387		—		29
Transbank S.A.	Associates	Card processing	30 days	Contract	Yes		498		—		498		—		97
		Project consultation	30 days	Contract	Yes		114		—		114		—		—
		Fraud prevention services	30 days	Contract	Yes		87		—		87		—		—
		Exchange commission	30 days	Contract	Yes		79,025		79,025		—		—		—
Centro de Compensación Automatizado S.A.	Associates	Fraud prevention services	30 days	Contract	Yes		657		—		657		—		333
		Collection services	30 days	Contract	Yes		187		—		187		—		—
		Transfer services	30 days	Contract	Yes		2,803		—		2,803		—		—
Artikos Chile S.A.	Joint venture	IT support services	30 days	Contract	Yes		422		—		422		—		2
		IT services	30 days	Contract	Yes		465		—		465		—		—
Citibank N.A.	Other related parties	Connectivity business commissions	Quarterly	Contract	Yes		8,065		8,065		—		3,272		—
Fundación Teletón	Other related parties	Advertising services	30 days	Contract	Yes		449		—		449		—		121
		Donations	30 days	Contract	Yes		1,599		—		1,599		—		—
Canal 13	Other related parties	Advertising service	30 days	Contract	Yes		202		—		202		—		73
Inmobiliaria e Inversiones Capitolio S.A.	Other related parties	Leases	30 days	Contract	Yes		84		—		84		—		—
Nuevos Desarrollos S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		180		—		—		—		496
Plaza Vespucio SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		127		—		—		—		154
Plaza Oeste SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		254		—		—		—		810
Plaza del Trebol SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		270		—		—		—		73
Plaza Tobalaba SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		135		—		—		—		113
Plaza La Serena SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		223		—		—		—		543
Inmobiliaria Mall Calama S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		141		—		—		—		137

142

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43.

Related Party Disclosures, continued:

(d)

Payments to the Board of Directors and to key personnel of the management of the Bank and its subsidiaries:

	March		March
	2025		2024
	MCh$		MCh$
Directory:
Payment of remuneration and attendance fees of the Board of Directors - Bank and its subsidiaries		846		810
Other Board expenses		17		14

Key Personnel of the Management of the Bank and its Subsidiaries:
Payment for short-term employees benefits		18,196		19,297
Payment for severance		95		620
Payment for benefits to post-employment employees		—		—
Payment for benefits to long-term employees		—		—
Payment to employees based on shares or equity instruments		—		—
Payment for obligations for defined contribution post-employment plans		—		—
Payment for obligations for post-employment defined benefit plans		—		—
Payment for other staff obligations		—		—
Subtotal		18,291		19,917
Total		19,154		20,741

(e)

Composition of the Board of Directors and key personnel of the Management of the Bank and its subsidiaries:

	March		March
	2025		2024
Directory:	No. Executives
Directors – Bank and its subsidiaries		17		16

Key Personnel of the Management of the Bank and its Subsidiaries:
CEO – Bank		1		1
CEOs – Subsidiaries		6		5
Division Managers / Area – Bank		73		88
Division Managers / Area – Subsidiaries		37		29
Subtotal		117		123
Total		134		139

143

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities:

Banco de Chile and its subsidiaries have defined a corporate framework for valuation and control related with the process to the fair value measurement.

Within the established framework includes the Product Control Unit, which is independent of the business areas and reports to the Financial Management Control and Division Manager. This function befall to the Financial Control, Treasury and Capital Manager, through the Financial Risk Information and Control Section, is responsible for independent verification of price and results of trading (including derivatives) and investment operations and all fair value measurements.

To achieve the appropriate measurements and controls, the Bank and its subsidiaries, take into account at least the following aspects:

(i)

Industry standard valuation.

To value financial instruments, Banco de Chile uses industry standard modeling; quota value, share price, discounted cash flows and valuation of options through Black-Scholes-Merton, according to the case.

The input parameters for the valuation of fixed income instruments and options correspond to rates, prices and volatility levels for different terms and market factors that are traded in the national and international market and that are provided by the main sources of the market.

In the case of the valuation of derivatives under a CSA (Credit Support Annex Discounting) agreement, the rates used to discount the flows correspond to the CSA Discounting methodology, where the discount factors used depend on the collateral agreement that exists with each counterparty.

(ii)

Quoted prices in active markets.

The fair value for instruments with quoted prices in active markets is determined using daily quotes from electronic systems information (such as Bolsa de Comercio de Santiago, Bloomberg, LVA and Risk America, etc). This quote represents the price at which these instruments are regularly traded in the financial markets.

(iii)

Valuation techniques.

If no specific quotes are available for the instrument to be valued, valuation techniques will be used to determine the fair value.

Due to, in general, the valuation models require a set of market parameters as inputs, the aim is to maximize information based on observable or price-related quotations for similar instruments in active markets. To the extent there is no information in direct from the markets, data from external suppliers of information, prices of similar instruments and historical information are used to validate the valuation parameters.

144

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(iv)

Fair value adjustments.

Part of the fair value process considers four adjustments to the market value, calculated based on the market parameters, including; a liquidity adjustment, a Bid/Offer adjustment, an adjustment for derivative credit risk (CVA and DVA), and an adjustment for the funding of the derivative cash flows (FVA). Likewise, for certain fixed income instruments held in investment portfolios measured at fair value through other comprehensive income or at amortized cost, the portion of the fair value adjustment explained by impairment due to counterparty credit risk is determined.

The calculation of the liquidity adjustment considers the size of the position in each factor, the particular liquidity of each factor, the relative size of Banco de Chile with respect to the market, and the liquidity observed in transactions recently carried out in the market. In turn, the Bid/Offer adjustment, represents the impact on the valuation of an instrument depending on whether the position corresponds to a long (bought) or a short (sold). To calculate this adjustment is used the direct quotes from active markets or indicative prices or derivatives of similar assets depending on the instrument, considering the Bid, Mid and Offer, respectively. Finally, the adjustment made for CVA and DVA for derivatives corresponds to the credit risk recognition of the issuer, either of the counterparty (CVA) or of Banco de Chile (DVA). Similarly, the determination of credit risk impairment is determined based on the counterparty risk implicit in the instrument’s market rate. Finally, the FVA adjustment for derivatives corresponds to a value adjustment that reflects the expected cost (or benefit) of financing (reinvesting) the cash flows of the derivative, with respect to a reference discount rate, when there are no collaterals or this one is imperfect.

It should be noted that there is also the concept of COLVA for derivatives, which is a valuation adjustment if a derivative is valued using parameters other than those used in the aforementioned CSA Discounting methodology. Since Banco de Chile uses CSA Discounting as the valuation methodology, COLVA is already part of the derivative’s Mark-to-Market (MTM), and no additional adjustment is required for this concept. In any case, the Bank measures COLVA for internal management purposes, relative to a SOFR Discounting scenario (scenario where all derivatives have USD SOFR collateral).

Liquidity value adjustments are made to trading instruments (including derivatives) only, while Bid/Offer adjustments are made for trading instruments and Financial instrument at fair value through Other Comprehensive Income. Adjustments for CVA / DVA/FVA/COLVA are carried out only for derivatives. For its part, credit risk impairment is computed only for fixed income instruments measured at fair value through other comprehensive income and fixed income instruments measured at amortized cost.

145

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(v)

Fair value control.

A process of independent verification of prices and interest rates is executed daily, in order to control that the market parameters used by Banco de Chile in the valuation of the financial instruments relating to the current state of the market and from them the best estimate derived of the fair value. The objective of this process is to control that the official market parameters provided by the respective business areas, before being entered into the valuation, are within acceptable ranges of differences when compared to the same set of parameters prepared independently by the Financial Risk Information and Control Section. As a result, value differences are obtained at the level of currency, product and portfolio. In the event significant differences exist, these differences are scaled according to the amount of individual materiality of each market factor and aggregated at the portfolio level, according to the grouping levels within previously defined ranges. These ranges are approved by the Finance, International and Financial Risk Committee.

Complementary and in parallel, the Financial Risk Information and Control Section generates and reports on a daily basis Profit and Loss (“P&L”) and Exposure to Market Risks, which allow for proper control and consistency of the parameters used in the valuation.

(vi)

Judgmental analysis and information to Management.

In particular cases, where there are no market quotations for the instrument to be valued and there are no prices for similar transactions instruments or indicative parameters, a specific control and a reasoned analysis must be carried out in order to estimate the fair value of the operation. Within the valuation framework described in the Reasonable Value Policy (and its procedure) approved by the Board of Directors of Banco de Chile, a required level of approval is set in order to carry out transactions where market information is not available or it is not possible to infer prices or rates from it.

(a)

Hierarchy of instruments valued at Fair value:

Banco de Chile and its subsidiaries, classify all the financial instruments among the following levels:

Level 1:

These are financial instruments whose fair value is calculated at quoted prices (unadjusted) in extracted from liquid and deep markets. For these instruments there are quotes or prices (return internal rates, quote value, price) the observable market, so that assumptions are not required to determine the value.

In this level, the following instruments are considered: currency futures, debt instruments issued by the Treasury and the Central Bank of Chile, which belong to benchmarks, mutual fund investments and equity shares.

For the instruments of the Central Bank of Chile and the General Treasury of the Republic, all those mnemonics belonging to a Benchmark, in other words corresponding to one of the following categories published by the Santiago Stock Exchange, will be considered as Level 1: Pesos-02, Pesos-03, Pesos-04, Pesos-05, Pesos-07, Pesos-10, UF-02, UF-04, UF-05, UF-07, UF-10, UF-20, UF-30.

146

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

A Benchmark corresponds to a group of mnemonics that are similar in duration and are traded in an equivalent way, i.e., the price (return internal rates in this case) obtained is the same for all the instruments that make up a Benchmark. This feature defines a greater depth of market, with daily quotations that allow classifying these instruments as Level 1.

In the case of debt issued by the Chilean Government, the internal rate of return of the market is used to discount all flows to present value. In the case of mutual funds and equity shares, the current market price per share, which multiplied by the number of instruments results in the fair value.

The preceding described valuation methodology is equivalent to the one used by the Bolsa de Comercio de Santiago (Santiago Stock Exchange) and correspond to the standard methodology used in the market.

Level 2:

They are financial instruments whose fair value is calculated based on prices other than in quoted in Level 1 that are observable for the asset or liability, directly (that is, as prices or internal rates of return) or indirectly (that is, derived from prices or internal rates of return from similar instruments). These categories include:

Quoted prices for similar assets or liabilities in active markets.

Quoted prices for identical or similar assets or liabilities in markets that are not active.

Inputs data other than quoted prices that are observable for the asset or liability.

Inputs data corroborated by the market.

At this level there are mainly derivatives instruments, debt issued by banks, debt issues of Chilean and foreign companies, issued in Chile or abroad, mortgage claims, financial brokerage instruments and some issuances by the Central Bank of Chile and the General Treasury of the Republic, which do not belong to benchmarks.

To value derivatives, depends on whether they are impacted by volatility as a relevant market factor in standard valuation methodologies; for options the Black-Scholes-Merton formula is used; for the rest of the derivatives, forwards and swaps, discounted cash flows method is used.

For the remaining instruments at this level, as for debt issues of level 1, the valuation is done through cash flows model by using an internal rate of return that can be derived or estimated from internal rates of return of similar securities as mentioned above.

In the event that there is no observable price for an instrument in a specific term, the price will be inferred from the interpolation between periods that have observable quoted price in active markets. These models incorporate various market variables, including the credit quality of counterparties, exchange rates and interest rate curves.

147

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

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 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 (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 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.

148

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

Level 3:

These are financial instruments whose fair value is determined using non-observable inputs data neither for the assets or liabilities under analysis nor for similar instruments. An adjustment to an input that is significant to the entire measurement can result in a fair value measurement classified within Level 3 of the fair value hierarchy, if the adjustment uses significant non-observable data entry.

The instruments likely to be classified as level 3 are mainly Corporate Debt by Chilean and foreign companies, issued both in Chile and abroad.

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.

149

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(b)

Level chart:

The following table shows the classification by levels, for financial instruments registered at fair value.

	Level 1				Level 2				Level 3				Total
	March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets
Financial Assets held for trading at fair value through profit or loss
Financial Derivative contracts:
Forwards		—		—		240,533		227,670		—		—		240,533		227,670
Swaps		—		—		1,800,223		2,070,481		—		—		1,800,223		2,070,481
Call Options		—		—		2,655		4,949		—		—		2,655		4,949
Put Options		—		—		1,138		253		—		—		1,138		253
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		2,044,549		2,303,353		—		—		2,044,549		2,303,353
Debt Financial Instruments:
From the Chilean Government and Central Bank		202,286		210,418		2,392,644		1,285,039		—		—		2,594,930		1,495,457
Other debt financial instruments issued in Chile		—		—		148,040		206,675		7,551		11,273		155,591		217,948
Financial debt instruments issued Abroad		—		—		—		976		—		—		—		976
Subtotal		202,286		210,418		2,540,684		1,492,690		7,551		11,273		2,750,521		1,714,381

Others		332,337		411,689		—		—		—		—		332,337		411,689

Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments: (1)
From the Chilean Government and Central Bank		567,572		550,418		66,134		110,359		—		—		633,706		660,777
Other debt financial instruments issued in Chile		—		—		1,155,268		1,303,708		72,079		71,922		1,227,347		1,375,630
Financial debt instruments issued Abroad		—		—		86,680		51,938		—		—		86,680		51,938
Subtotal		567,572		550,418		1,308,082		1,466,005		72,079		71,922		1,947,733		2,088,345

Financial Derivative contracts for hedging purposes
Forwards		—		—		—		—		—		—		—		—
Swaps		—		—		47,108		73,959		—		—		47,108		73,959
Call Options		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		47,108		73,959		—		—		47,108		73,959
Total		1,102,195		1,172,525		5,940,423		5,336,007		79,630		83,195		7,122,248		6,591,727

Financial Liabilities
Financial liabilities held for trading at fair value through profit or loss:
Financial Derivative contracts:
Forwards		—		—		229,323		241,632		—		—		229,323		241,632
Swaps		—		—		1,960,030		2,198,068		—		—		1,960,030		2,198,068
Call Options		—		—		1,587		4,151		—		—		1,587		4,151
Put Options		—		—		2,012		955		—		—		2,012		955
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		2,192,952		2,444,806		—		—		2,192,952		2,444,806

Others		—		—		6,524		990		—		—		6,524		990

Financial derivative contracts for hedging purposes
Forwards		—		—		—		—		—		—		—		—
Swaps		—		—		200,844		141,040		—		—		200,844		141,040
Call Options		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		200,844		141,040		—		—		200,844		141,040
Total		—		—		2,400,320		2,586,836		—		—		2,400,320		2,586,836

(1)	As of March 31, 2025, 100% of instruments of Level 3 have denomination “Investment Grade”. Also, 100% of total of these financial instruments correspond to domestic issuers.

150

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(c)

Level 3 reconciliation:

The following table shows the reconciliation between the balances at the beginning and at the end of period for those instruments classified in Level 3, whose fair value is reflected in the Interim Consolidated Financial Statements:

	March 2025
	Balance as of January 1, 2025		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 March 31, 2025
	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		11,273		275		—			—		(3,997	)		—		—		7,551
Subtotal		11,273		275		—			—		(3,997	)		—		—		7,551

Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments:
Other debt financial instruments issued in Chile		71,922		488		(331	)		—		—			—		—		72,079
Subtotal		71,922		488		(331	)		—		—			—		—		72,079
Total		83,195		763		(331	)		—		(3,997	)		—		—		79,630

	December 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
Subtotal		88,483		586		1,682		58,608		(27,961	)		11,268		(60,744	)		71,922
Total		122,846		1,995		1,682		83,887		(84,697	)		18,226		(60,744	)		83,195

(1)	Recorded in income under item “Net Financial income (expense)”.
(2)	Recorded in equity under item “Accumulated other comprehensive income”.

151

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(d)

Sensitivity of instruments classified in Level 3 to changes in key assumptions of models:

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 March 31, 2025					As of December 31, 2024
	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		7,551		(161	)		11,273		(255	)
Subtotal		7,551		(161	)		11,273		(255	)

Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments:
Other debt financial instruments issued in Chile		72,079		(2,308	)		71,922		(2,320	)
Subtotal		72,079		(2,308	)		71,922		(2,320	)
Total		79,630		(2,469	)		83,195		(2,575	)

With the purpose of determining the sensitivity of the financial investments to changes in significant market factors, the Bank has made alternative calculations at fair value, changing those key parameters for the valuation and which are not directly observable in screens. In the case of the financial assets listed in the table above, which correspond to Bank Bonds and Corporate Bonds, it was considered that, since there are no current observables prices, the input prices will be based on brokers’ quotes. The prices are usually calculated as a base rate plus a spread. For Local Bonds it was determined to apply a 10% impact on the price. The 10% impact is considered reasonable, taking into account the market performance of these instruments and comparing it against the bid/offer adjustment that is provisioned by these instruments.

152

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(e)

Other assets and liabilities:

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 Interim Consolidated Statement of Financial Position. The values shown in this note are not attempt to estimate the value of the Bank’s income-generating assets, nor forecast their future behavior. The estimated fair value is as follows:

	Book Value				Estimated Fair Value
	March		December		March		December
	2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$

Assets
Cash and due from banks		2,331,207		2,699,076		2,331,207		2,699,076
Transactions in the course of collection		356,737		372,456		356,737		372,456
Subtotal		2,687,944		3,071,532		2,687,944		3,071,532
Financial assets at amortized cost:
Rights from resale agreements and securities lending		99,283		87,291		99,283		87,291
Debt financial instruments		929,266		944,074		888,454		892,550
Loans and advances to Banks:
Domestic banks		1,100,000		299,888		1,100,000		299,888
Central Bank of Chile		199,928		—		199,928		—
Foreign banks		399,937		366,927		396,960		366,245
Subtotal		2,728,414		1,698,180		2,684,625		1,645,974
Loans to customers, net:
Commercial loans		19,889,443		19,724,933		19,677,068		19,561,279
Residential mortgage loans		13,459,612		13,180,186		13,299,695		13,000,178
Consumer loans		5,148,947		5,183,917		5,277,269		5,247,985
Subtotal		38,498,002		38,089,036		38,254,032		37,809,442
Total		43,914,360		42,858,748		43,626,601		42,526,948

Liabilities
Transactions in the course of payment		534,594		283,605		534,594		283,605
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,560,376		14,263,303		14,560,376		14,263,303
Saving accounts and time deposits		15,507,444		14,168,703		15,504,879		14,170,156
Obligations by repurchase agreements and securities lending		141,790		109,794		141,790		109,794
Borrowings from financial institutions		1,312,028		1,103,468		1,278,625		1,071,097
Debt financial instruments issued:
Letters of credit for residential purposes		717		849		832		946
Letters of credit for general purposes		—		1		—		1
Bonds		9,988,949		9,689,219		9,949,321		9,596,699
Other financial obligations		320,709		284,479		320,709		284,479
Subtotal		41,832,013		39,619,816		41,756,532		39,496,475
Financial instruments of regulatory capital issued:
Subordinate bonds		1,087,573		1,068,879		1,072,468		1,057,509
Total		43,454,180		40,972,300		43,363,594		40,837,589

Other financial assets and liabilities not measured at their fair value, but for which a fair value is estimated, even if not managed based on such value, include assets and liabilities such as placements, deposits and other time deposits, debt issued, and other financial assets and obligations with different maturities and characteristics. The fair value of these assets and liabilities is calculated using the Discounted Cash Flow model and the use of various data sources such as yield curves, credit risk spreads, etc. In addition, due to some of these assets and liabilities are not traded on the market, periodic reviews and analyzes are required to determine the suitability of the inputs and determined fair values.

153

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(f)

Levels of other assets and liabilities:

The following table shows the estimated fair value of financial assets and liabilities not valued at their fair value, as of March 31, 2025 and December 31, 2024:

	Level 1 estimated fair value				Level 2 estimated fair value				Level 3 estimated fair value				Total estimated fair value
	March		December		March		December		March		December		March		December
	2025		2024		2025		2024		2025		2024		2025		2024
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Assets
Cash and due from banks		2,331,207		2,699,076		—		—		—		—		2,331,207		2,699,076
Transactions in the course of collection		356,737		372,456		—		—		—		—		356,737		372,456
Subtotal		2,687,944		3,071,532		—		—		—		—		2,687,944		3,071,532
Financial assets at amortized cost:
Rights from resale agreements and securities lending		99,283		87,291		—		—		—		—		99,283		87,291
Debt financial instruments		888,454		892,550		—		—		—		—		888,454		892,550
Loans and advances to Banks:
Domestic banks		1,100,000		299,888		—		—		—		—		1,100,000		299,888
Central Bank of Chile		199,928		—		—		—		—		—		199,928		—
Foreign banks		—		—		—		—		396,960		366,245		396,960		366,245
Subtotal		2,287,665		1,279,729		—		—		396,960		366,245		2,684,625		1,645,974
Loans to customers, net:
Commercial loans		—		—		—		—		19,677,068		19,561,279		19,677,068		19,561,279
Residential mortgage loans		—		—		—		—		13,299,695		13,000,178		13,299,695		13,000,178
Consumer loans		—		—		—		—		5,277,269		5,247,985		5,277,269		5,247,985
Subtotal		—		—		—		—		38,254,032		37,809,442		38,254,032		37,809,442
Total		4,975,609		4,351,261		—		—		38,650,992		38,175,687		43,626,601		42,526,948

Liabilities
Transactions in the course of payment		534,594		283,605		—		—		—		—		534,594		283,605
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,560,376		14,263,303		—		—		—		—		14,560,376		14,263,303
Saving accounts and time deposits		—		—		—		—		15,504,879		14,170,156		15,504,879		14,170,156
Obligations by repurchase agreements and securities lending		141,790		109,794		—		—		—		—		141,790		109,794
Borrowings from financial institutions		—		—		—		—		1,278,625		1,071,097		1,278,625		1,071,097
Debt financial instruments issued:
Letters of credit for residential purposes		—		—		832		946		—		—		832		946
Letters of credit for general purposes		—		—		—		1		—		—		—		1
Bonds		—		—		9,949,321		9,596,699		—		—		9,949,321		9,596,699
Other financial obligations		—		—		—		—		320,709		284,479		320,709		284,479
Subtotal		14,702,166		14,373,097		9,950,153		9,597,646		17,104,213		15,525,732		41,756,532		39,496,475
Financial instruments of regulatory capital issued:
Subordinate bonds		—		—		—		—		1,072,468		1,057,509		1,072,468		1,057,509
Total		15,236,760		14,656,702		9,950,153		9,597,646		18,176,681		16,583,241		43,363,594		40,837,589

154

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44.

Fair Value of Financial Assets and Liabilities, continued:

(f)

Levels of other assets and liabilities, continued:

The Bank determines the fair value of these assets and liabilities according to the following:

●

Short-term assets and liabilities: For assets and liabilities with short-term maturity, it is assumed that the book values approximate to their fair value. This assumption is applied to the following assets and liabilities:

Assets:		Liabilities:

- Cash and deposits in banks		- Current accounts and other demand deposits
- Transactions in the course of collection		- Transactions in the course of payments
- Investment under resale agreements and securities loans		- Obligations under repurchase agreements and securities loans
- Loans and advance to domestic banks (including the Central Bank of Chile)

●

Loans to Customers and Advances to foreign banks: Fair value is determined by using the discounted cash flow model and internally generated discount rates, based on internal transfer rates derived from our internal transfer price process. Once the present value is determined, we deduct the related loan loss allowances in order to incorporate the credit risk associated with each contract or loan. As we use internally generated parameters for valuation purposes, we categorize these instruments in Level 3.

●

Debt financial instruments at amortized cost: The fair value is calculated with the methodology of the Stock Exchange, using the IRR observed in the market. Because the instruments that are in this category correspond to Treasury Bonds that are Benchmark, they are classified in Level 1.

●

Letters of Credit and Bonds: In order to determine the present value of contractual cash flows, we apply the discounted cash flow model by using market interest rates that are available in the market, either for the instruments under valuation or instruments with similar features that fit valuation needs in terms of currency, maturities and liquidity. The market interest rates are obtained from third party price providers widely used by the market. As a result of the valuation technique and the quality of inputs (observable) used for valuation, we categorize these financial liabilities in Level 2.

●

Saving Accounts, Time Deposits, Borrowings from Financial Institutions (including the Central Bank of Chile), Subordinated Bonds and Other borrowings financial: The discounted cash flow model is used to obtain the present value of committed cash flows by applying a bucket approach and average adjusted discount rates that derived from both market rates for instruments with similar features and our internal transfer price process. As we use internally generated parameters and/or apply significant judgmental analysis for valuation purposes, we categorize these financial liabilities in Level 3.

155

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45.

Maturity according to their remaining Terms of Financial Assets and Liabilities:

The table below details the main financial assets and liabilities grouped in accordance with their remaining maturity, including capitals and accrued interest as of March 31, 2025 and December 31, 2024. As these are for trading and Financial instrument at fair value through other comprehensive income are included at their fair value:

	March 2025
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year		Over 1 year and up to 3 years		Over 3 year  and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		2,331,207		—		—		—		2,331,207		—		—		—		—		2,331,207
Transactions in the course of collection		—		356,737		—		—		356,737		—		—		—		—		356,737
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial		—		146,238		154,165		333,637		634,040		449,429		365,449		595,631		1,410,509		2,044,549
Debt financial instruments		—		2,750,521		—		—		2,750,521		—		—		—		—		2,750,521
Others		—		332,337		—		—		332,337		—		—		—		—		332,337
Financial assets at fair value through other comprehensive income		—		15,619		176,799		809,040		1,001,458		56,547		614,691		275,037		946,275		1,947,733
Derivative contracts financial for hedging purposes		—		—		—		226		226		18,099		9,483		19,300		46,882		47,108
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		59,986		37,936		1,361		99,283		—		—		—		—		99,283
Debt financial instruments (*)		—		—		—		480,745		480,745		—		132,307		316,249		448,556		929,301
Loans and advances to Banks (**)		—		1,524,797		171,193		4,775		1,700,765		—		—		—		—		1,700,765
Loans to customers, net (**)		—		5,381,846		3,535,816		6,738,445		15,656,107		6,797,394		4,442,779		12,424,055		23,664,228		39,320,335
Total financial assets		2,331,207		10,568,081		4,075,909		8,368,229		25,343,426		7,321,469		5,564,709		13,630,272		26,516,450		51,859,876

156

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45.

Maturity according to their remaining Terms of Financial Assets and Liabilities, continued:

	March 2025
	Demand			Up to 1 month			Over 1 month and up to 3 months			Over 3 month and up to 12 months		Subtotal up to 1 year			Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$			MCh$			MCh$			MCh$		MCh$			MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities
Transactions in the course of payment		—			534,594			—			—		534,594			—		—		—		—		534,594
Financial liabilities held for trading at fair value through profit or loss:
Derivative contracts financial		—			128,899			145,227			330,335		604,461			567,031		443,418		578,042		1,588,491		2,192,952
Others		—			5,788			—			736		6,524			—		—		—		—		6,524
Derivative contracts financial for hedging purposes		—			—			126			15,291		15,417			6,494		30,022		148,911		185,427		200,844
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,560,376			—			—			—		14,560,376			—		—		—		—		14,560,376
Saving accounts and time deposits (***)		—			9,483,533			3,158,687			2,304,573		14,946,793			171,552		326		541		172,419		15,119,212
Obligations by repurchase agreements and securities lending		—			102,292			39,498			—		141,790			—		—		—		—		141,790
Borrowings from financial institutions		—			102,823			379,078			830,127		1,312,028			—		—		—		—		1,312,028
Debt financial instruments issued:
Letters of credit		—			61			135			98		294			69		84		270		423		717
Bonds		—			101,952			428,490			1,062,356		1,592,798			2,429,057		2,191,478		3,775,616		8,396,151		9,988,949
Other financial obligations		—			320,709			—			—		320,709			—		—		—		—		320,709
Lease liabilities		—			2,294			5,010			19,236		26,540			35,925		15,925		8,818		60,668		87,208
Financial instruments of regulatory capital issued		—			3,496			104,947			7,914		116,357			14,105		11,958		945,153		971,216		1,087,573
Total financial liabilities		14,560,376			10,786,441			4,261,198			4,570,666		34,178,681			3,224,233		2,693,211		5,457,351		11,374,795		45,553,476

Mismatch		(12,229,169	)		(218,360	)		(185,289	)		3,797,563		(8,835,255	)		4,097,236		2,871,498		8,172,921		15,141,655		6,306,400

(*)	These balances are presented without deduction of impairment, wich amount to Ch$35 million.

(**)	These balances are presented without deduction of their respective provisions, which amount to Ch$822,333 million for loans to customers and Ch$900 million for borrowings from financial institutions.

(***)

Excludes term saving accounts, which amount to Ch$388,232 million.

157

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45.

Maturity according to their remaining Terms of Financial Assets and Liabilities, continued:

	December 2024
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year		Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		2,699,076		—		—		—		2,699,076		—		—		—		—		2,699,076
Transactions in the course of collection		—		372,456		—		—		372,456		—		—		—		—		372,456
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial		—		87,403		120,813		465,718		673,934		540,872		405,243		683,304		1,629,419		2,303,353
Debt financial instruments		—		1,714,381		—		—		1,714,381		—		—		—		—		1,714,381
Others		—		411,689		—		—		411,689		—		—		—		—		411,689
Financial assets at fair value through other comprehensive income		—		123,164		250,542		683,008		1,056,714		196,319		590,462		244,850		1,031,631		2,088,345
Derivative contracts financial for hedging purposes		—		—		—		4,783		4,783		25,936		15,741		27,499		69,176		73,959
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		55,295		31,242		754		87,291		—		—		—		—		87,291
Debt financial instruments (*)		—		—		16,833		—		16,833		477,895		131,070		318,311		927,276		944,109
Loans and advances to Banks (**)		—		398,512		57,306		211,885		667,703		—		—		—		—		667,703
Loans to customers, net (**)		—		5,344,299		2,853,497		7,464,859		15,662,655		6,849,850		4,175,945		12,186,670		23,212,465		38,875,120
Total financial assets		2,699,076		8,507,199		3,330,233		8,831,007		23,367,515		8,090,872		5,318,461		13,460,634		26,869,967		50,237,482

158

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45.

Maturity according to their remaining Terms of Financial Assets and Liabilities, continued:

	December 2024
	Demand			Up to 1 month			Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year			Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$			MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities
Transactions in the course of payment		—			283,605			—		—		283,605			—		—		—		—		283,605
Financial liabilities held for trading at fair value through profit or loss:
Derivative contracts financial		—			80,209			103,327		450,350		633,886			674,660		475,577		660,683		1,810,920		2,444,806
Others		—			580			—		—		580			410		—		—		410		990
Derivative contracts financial for hedging purposes		—			—			—		10,741		10,741			241		28,906		101,152		130,299		141,040
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,263,303			—			—		—		14,263,303			—		—		—		—		14,263,303
Saving accounts and time deposits (***)		—			9,029,159			2,636,427		2,073,931		13,739,517			53,594		452		547		54,593		13,794,110
Obligations by repurchase agreements and securities lending		—			109,214			65		515		109,794			—		—		—		—		109,794
Borrowings from financial institutions		—			7,945			161,196		783,552		952,693			150,775		—		—		150,775		1,103,468
Debt financial instruments issued:
Letters of credit		—			138			140		161		439			40		86		285		411		850
Bonds		—			4,451			134,852		1,033,995		1,173,298			2,577,932		2,043,457		3,894,532		8,515,921		9,689,219
Other financial obligations		—			284,479			—		—		284,479			—		—		—		—		284,479
Lease liabilities		—			2,252			4,728		19,046		26,026			36,552		18,746		10,105		65,403		91,429
Financial instruments of regulatory capital issued		—			1,815			—		112,095		113,910			13,514		11,365		930,090		954,969		1,068,879
Total financial liabilities		14,263,303			9,803,847			3,040,735		4,484,386		31,592,271			3,507,718		2,578,589		5,597,394		11,683,701		43,275,972

Mismatch		(11,564,227	)		(1,296,648	)		289,498		4,346,621		(8,224,756	)		4,583,154		2,739,872		7,863,240		15,186,266		6,961,510

(*)	These balances are presented without deduction of impairment, wich amount to Ch$35 million.

(**)	These balances are presented without deduction of their respective provisions, which amount to Ch$786,084 million for loans to customers and Ch$888 million for borrowings from financial institutions.

(***)

Excludes term saving accounts, which amount to Ch$374,593 million.

159

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

46.

Financial and Non-Financial Assets and Liabilities by Currency:

As of March 31, 2025	CLP			CLF		FX Indexation		USD			COP		GBP		EUR			CHF			JPY			CNY		Others			TOTAL
	MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$		MCh$			MCh$
Assets
Financial assets		22,456,038			22,825,052		168,082		5,212,630			—		33,603		270,598			5,171			13,485			30,549		21,400			51,036,608
Non-Financial assets		2,195,615			31,278		11,936		491,499			—		—		2,950			—			—			—		18			2,733,296
Total Assets		24,651,653			22,856,330		180,018		5,704,129			—		33,603		273,548			5,171			13,485			30,549		21,418			53,769,904

Liabilities
Financial liabilities		27,036,178			10,564,272		394		6,788,647			—		9,876		334,355			140,499			232,002			9,163		826,322			45,941,708
Non-Financial liabilities		1,703,967			394,393		1,361		325,859			—		1,487		5,530			2			13			157		67			2,432,836
Total Liabilities		28,740,145			10,958,665		1,755		7,114,506			—		11,363		339,885			140,501			232,015			9,320		826,389			48,374,544

Mismatch of Financial Assets and Liabilities (*)		(4,580,140	)		12,260,780		167,688		(1,576,017	)		—		23,727		(63,757	)		(135,328	)		(218,517	)		21,386		(804,922	)		5,094,900

(*)	This value does not consider non-financial assets and liabilities and the notional values of derivative instruments, which are disclosed at fair value.

As of December 31, 2024	CLP			CLF		FX Indexation		USD			COP		GBP		EUR			CHF			JPY			CNY		Others			TOTAL
	MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$		MCh$			MCh$
Assets
Financial assets		21,227,721			22,318,337		171,396		5,307,621			—		35,762		280,162			62,903			18,750			5,462		22,361			49,450,475
Non-Financial assets		2,153,271			49,318		11,699		429,341			—		—		1,273			—			—			—		64			2,644,966
Total Assets		23,380,992			22,367,655		183,095		5,736,962			—		35,762		281,435			62,903			18,750			5,462		22,425			52,095,441

Liabilities
Financial liabilities		25,758,304			10,716,291		176		5,624,828			—		6,837		297,367			170,907			230,051			—		845,804			43,650,565
Non-Financial liabilities		2,143,825			373,949		1,252		299,241			—		26		3,375			2			34			—		171			2,821,875
Total Liabilities		27,902,129			11,090,240		1,428		5,924,069			—		6,863		300,742			170,909			230,085			—		845,975			46,472,440

Mismatch of Financial Assets and Liabilities (*)		(4,530,583	)		11,602,046		171,220		(317,207	)		—		28,925		(17,205	)		(108,004	)		(211,301	)		5,462		(823,443	)		5,799,910

(*)	This value does not consider non-financial assets and liabilities and the notional values of derivative instruments, which are disclosed at fair value.

160

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report:

(1)

Introduction:

Banco de Chile seeks to maintain a risk profile that ensures the sustainable growth that is aligned with its strategic objectives, maximizing value creation and guarantee its long-term solvency. Global risk management takes into consideration the different business segments served by the Bank, being approached from a comprehensive and differentiated perspective.

Our risk management policies are established in order to identify and analyze the risks faced by the Bank, set appropriate risk limits, alerts and controls, monitor risks and compliance with limits and alerts in order to carry out the necessary action plans. Through its administration policies and procedures, the Bank develops a disciplined and constructive control environment. Policies as well as risk management standards, procedures and systems are regularly reviewed, and with strict adherence to compliance with the current regulatory framework.

For this, the Bank has teams with extensive experience and knowledge in each area associated with risks, ensuring comprehensive and consolidated management of the same, including the Bank and its subsidiaries.

(a)

Risk Management Structure

Credit, Market and Operational Risk Management are at all levels of the Organization, with a Corporate Governance structure that recognizes the relevance of the different risk areas that exist.

The Bank’s Board of Directors as the maximum authority is responsible for establishing risk policies, the Risk Appetite Framework, and the guidelines for the measurement criteria and follow up of risks. Also, it approves the risk limits and contingency plans for each of the risks. Moreover, it approves the following policies: Credit risk policy, policy for complex products and services, operational risk policy, business continuation policy, outsourcing policy, market risk policy and liquidity risk policy. Likewise, it approves the provision models, Additional Provisions Policy and pronounces annually on the sufficient provisions. Additionally, approves the policy of capital management for the monitoring, control, administration and the management of the bank´s capital. Also, it ratifies the strategies, functional structure and comprehensive management model of Operational Risk and guarantees the consistency of this model with the Bank’s strategy and proper implementation of the model in the organization. Along with this, it has approved the risk management policy of the model together with the development framework, validation and follow up of the models. Furthermore, it establishes the Subsidiary Risk Control Policy, describing the supervision scheme that the Bank applies to the relevant subsidiaries to control the risks that affect them. For its part, the Administration is responsible both for the establishment of standards and associated procedures as well as for the control and compliance with the disposed by the Board of Directors, ensuring that there is consistency between the criteria applied by the Bank and its subsidiaries, maintaining strict coordination at the corporate level and informing the Board of Directors in the defined instances.

The Bank’s Corporate Governance considers the active participation of the Board, acting directly or through different committees made up of Directors and Senior Management. It is permanently informed and becomes aware of the evolution of the different risk management areas, participating through its Finance, International and Financial Risk, Credit, Portfolio Risk Committee, Higher Committee of Operational Risk and Capital Management, in which the status of credit, market and operational risks and the Bank’s capital management are reviewed.

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47.

Risk Management and Report, continued:

In addition to the Directors’ Committees, the Bank’s Administration has the Technical Committee for the Supervision of Internal Models, the Model Risk Management Committee and the Operational Risk Committee, related to specific matters.

The following sections describe the different committees of Directors and Administration mentioned.

Risk Management is developed by the Corporate Risk Division, which by having highly experienced and specialized teams, together with a solid regulatory framework, allows for optimal and effective management of the matters they address.

The Corporate Risk Division contributes to providing effective governance to the Corporation’s main risks, with a focus on optimizing the risk-return relationship, ensuring business continuity and generating a robust risk culture, identifying potential losses derived from the non-compliance of counterparties, movements in market factors or the lack of adequacy of processes, people or systems, contributing comprehensively to capital management.

Likewise, it continually manages risk knowledge from a comprehensive approach, in order to contribute to the business anticipating threats that may damage the solvency and quality of the portfolio, promoting a unique risk culture towards the Corporation through training and permanent education.

Within this Division, the Bank’s risk functions are integrated as follows, ensuring, at the same time, the correct segregation of functions and independence:

Market Risk: Is responsible for developing the function of measuring, limiting, controlling and reporting market risk, along with defining valuation standards and managing the Bank’s assets and liabilities. Moreover, this management is responsible for taking care of the compliance of market risk management policies, liquidity management, investment in debt instruments approved by the board and to communicate promptly the status of market risks in detail accordingly.

Wholesale Credit Risk Admission: is responsible for managing, resolving and controlling the approval process of businesses related to the Wholesale segment portfolio, including specific sectors and products for this portfolio, ensuring coherence, compliance and consistency of policies. of credit risk both in the bank and in its subsidiaries.

Retail Admission, Regulations and Risk Transformation: Responsible for defining the credit risk management framework, both for reactive and proactive retail origination, within the defined regulatory scope and risk appetite established by the Bank. Also, the maintenance and implementation of all credit risk strategies associated with the automatic evaluation.

Manages the regulatory body, policies, standards and procedures of credit risk, adapting the established requirements and processes, for all segments transversally in the Bank. Likewise, it carries out reviews of the quality of the credit process applied to retail banks and the continuous training of executives.

Special Asset Management: is responsible for the collection of credits from all of the Bank’s customer segments, with differentiated management in accordance with institutional policies.

In addition, it is responsible for managing the sale of assets recovered by the Bank, coming from credit recovery processes.

Risk Management Monitoring, Reporting and Control: is responsible for managing and reporting credit risk, especially through monitoring the main portfolio indicators and in-depth analysis of situations and scenarios of special attention, timely detecting problems that may affect certain products, debtors or sectors, with the aim of minimizing the risk assumed and anticipating situations that could lead to credit losses.

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47.

Risk Management and Report, continued:

Likewise, it provides information to the different government bodies and areas involved in decision-making, and contributes to providing effective governance to the Corporate Risk Division projects, ensuring regulatory compliance and the correct execution of the projects. themselves, as well as being responsible for the management control of the Corporate Risk Division.

Risk Models: is responsible for developing, maintaining and updating credit risk models, whether for regulatory or management uses, in accordance with local and international regulations, determining the functional specifications and the most appropriate statistical techniques for the development of the required models. These models are immersed in the measurement and management of model risk carried out by the Model Risk and Internal Control Management, and presented to the corresponding government bodies, such as the Technical Committee for the Supervision of Internal Models, the Portfolio Risk Committee or the Board of Directors, as appropriate.

Additionally, this Area is responsible for managing the process of calculating provisions for credit risk, ensuring the correct execution of the processes and analysis of the results obtained.

Model Risk and Internal Control: Its purpose is to manage the risks associated with models and processes, for this it is supported by the functions of model validation and monitoring, model risk management, and internal control.

Conducts an independent review, evaluating the quality of the data, modeling techniques, compliance with regulatory provisions, its insertion within the institution and existing documentation. It monitors the performance of the models and monitors each stage of the life cycle of the models within its scope, with the final purpose of generating mechanisms that allow it to measure and manage the level of model risk to which the Bank is exposed.

Finally, the internal control function has the responsibility of carrying out an evaluation of the design and operational effectiveness of controls, to comply with regulatory requirements.

Global Control: Address the operational risk environment and continuity of the business. This management is responsible for managing and supervising the application of policies, standards and procedures in each of the areas within the Bank and Subsidiaries. In relation to the area of Operational Risk, it is in charge for guaranteeing the identification and efficient management of operational risks and promoting a risk culture to prevent financial losses and improve the quality of processes, proposing continuous improvements to risk management, aligned with regulatory requirements of Basel III and business objectives.

As part of the Global Control Management, there is the Business Continuity Management, which is responsible for managing, controlling and administering recovery strategies in the event of contingency situations, and is also responsible for maintaining the crisis governance model, sustains the continuity of services and related critical operations to the Bank’s payment chain, through a comprehensive and resilient model that includes plans and controlled tests in order to reduce the impact of disruptive events that may affect the bank. Additionally, there is the role and responsibilities of the Information Security Officer (ISO), with an independent function in charge of designing and implementing through monitoring of realized tasks of the organizational units responsible for the information security, cybersecurity and technological risks.

Additionally, the Bank has the Cybersecurity Division, which is responsible for defining, implementing and reporting the progress of the Strategic Cybersecurity Plan in line with the Bank’s business strategy, with one of its main focuses being to protect internal information, of its clients and collaborators.

This Division is made up of the Cybersecurity Engineering and Architecture Management, the Cyber Defense Management and the Technological Risk and Cyber Intelligence Management. The Cybersecurity Management and Subsidiaries Control Department is also part of the division, as a control unit. Section 5 of this Note describes the responsibilities of the indicated Managements.

163

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

Committees of Directors and Bank Administration

(i) Finance, International and Financial Risk Committee

In general terms, the objectives of this committee are to monitor and continuously review the liquidity status and, trends in the most important financial positions, as well as the their associated results, and and their price and liquidity risks that will be generated. Some of its specific functions include, the review of the proposal to the Board of Directors of the Risk Appetite Framework (RAF), the Financing Plan and the structure of limits and alerts for price and liquidity risks, reviewing and approving the Comprehensive Risk Measurement (CRM) for subsequent due review in the Capital Management Committee and approval by the Board of Directors, the design of policies and procedures related to the establishment of limits and alerts for price risk and liquidity risk; reviewing the evolution of financial positions and market risks; monitoring limit excesses and alert activations; ensuring adequate identification of risk factors in financial positions; ensuring that the price and liquidity risk management guidelines in the Bank’s subsidiaries are consistent with those of the latter, and that these are reflected in their own policies and procedures.

(ii) Credit Committees

The credit approval process is done mainly through various credit committees, which are composed of qualified professionals and with the sufficient attributions to take decisions required.

Each committee defines the terms and conditions under which the Bank accepts counterparty risks and the Corporate Risk Division participate independently and autonomously of the commercial areas. They are constituted according to the commercial segments and the amounts to approve and have different meeting periodicities.

Within the risk management structure of the Bank, the maximum approval instance is the Credit Committee of Directors. Its functions are to resolve all credit transactions associated with customers and economic groups with approved lines of credit in excess of UF750,000, and to approve all credit transactions where the bank’s internal regulations require approval from this Committee, except for any special powers delegated by the board to management.

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47.

Risk Management and Report, continued:

(iii) Portfolio Risk Committee

The Portfolio Risk Committee must understand the composition, concentration and risks attached to the bank’s loan portfolio, from a global, sectoral and business unit perspective, review and approve the comprehensive risk measurement (CRM) and the Credit Risk Appetite Framework (RAF) in the area of credit risk; It must review the main debtors, their delinquency, past-due portfolio and impairment indicators, together with the write-offs and loan portfolio provisions for each segment. It must propose differentiated management strategies, as well as analyzing and agreeing on the and analyze credit policy proposals that will be approved by theto be approved by the board of directors. This committee also reviews and ratifies the approvals of management models and methodologies Also, this committee is responsible for reviewing and ratifying the approvals of management models and methodologies previously carried out by the Technical Committee for the Supervision of Internal Models, as well as proposing the regulatory models and methodologies for final approval by the Board of Directors.

(iv) Senior Operational Risk

The Senior Operational Risk Committee makes any necessary changes to the processes, controls and information systems that support the bank’s transactions, in order to mitigate operational risks, and assure that areas can appropriately manage and control these risks.

This Committee has many functions dedicated to supervising appropriate operational risk management at the bank and its subsidiaries, and for implementing the policies, standards and methods associated with the bank’s comprehensive operational risk management model. It plans initiatives to develop it and publishes them throughout the bank. It promotes a culture of operational risk management within the bank and its subsidiaries; review and approve the comprehensive risk measurement regarding Operational Risk. It approves the bank’s operational risk appetite framework; ensures compliance with the current regulatory framework, in matters that are limited to Operational Risk; become aware of the main frauds, incidents, events and their root causes, impacts and corrective measures accordingly; ensure the long-term solvency of the Organization (business continuity plans, informations security and cybersecurity, controls, among others), avoiding risk factors that may jeopardize the continuity of the Bank. To decide about new products and services, and to verify the consistency of the operational risk management policies, business continuation, information security and cyber security across the bank’s subsidiaries, monitors their compliance, and reviews operational risk management at subsidiaries; become aware of the level of risk to which the bank is exposed in its outsourced services, sanction the selection of the model to carry out stress tests and scenario selection methodologies and evaluate the results, among others.

165

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47.

Risk Management and Report, continued:

(v) Capital Management Committee

The main purpose of this committee is to assess, monitor and review capital adequacy in accordance with the principles in the bank’s capital management policy and its risk framework, to ensure that capital resources are adequately managed, the CMF’s principles are respected, and the bank’s medium-term sustainability.

(vi) Technical Committee for the Supervision of Internal Models

Among other functions, this committee must ensure compliance with the main guidelines to be used for the construction of models; analyze the adopted criteria and review and approve methodologies associated with non-regulatory models, which must be submitted to the Portfolio Risk Committee for consideration, for final ratification; In the case of regulatory models, this Committee is limited to its review, leaving approval in the hands of the Portfolio Risk Committee and subsequently the Board of Directors. He is also in charge of ensuring compliance with the model monitoring guidelines, which are also approved by the board of directors.

(vii) Model Risk Management Committee

Its main function is to establish and supervise the model risk management framework the corresponding at the institutional level. Among other matters, this committee reviews and discusses the identification and evaluation of model risk based on aggregate results, ensures the updating of the institutional inventory of institutional models and methodologies, and submits the Model Risk Management Policy to the Board of Directors for review and approval.

(viii) Operational Risk Committee

The Committee is empowered to trigger the necessary changes in the processes, procedures, controls and information systems that support the operation of Banco de Chile, in order to mitigate its operational risks, ensuring that the different areas properly manage and control these risks. Among the main functions of the Operational Risk Committee are: regarding the development of the Comprehensive Operational Risk Management Model, ensure the implementation and/or updating the Regulatory Framework, plans and initiatives for the development of the model and its dissemination in the Organization; promote a culture of operational risk management at all levels of the Bank; gather information on the results obtained from the comprehensive measurement of operational risk; review the Operational Risk Appetite Framework; ensure the current regulatory framework in matters related to operational risk; review the Bank’s level of exposure to operational risk and the main operational risks to which it is exposed; acquire knowledge of the main frauds, incidents, operational events and their root causes, impacts and corrective measures, as appropriate, as well as operational risk assessments; propose, agree on and/or prioritize strategies to mitigate the main operational risks; ensure the long-term solvency of the organization; ensure that Operational Risk policies are aligned with the Bank’s objectives and strategies; agree on the development of new products and services; acquire knowledge of the level of risk to which the Bank is exposed in its outsourced services, among others.

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47.

Risk Management and Report, continued:

(b)

Internal Audit

The risk management processes of the entire Bank are permanently audited by the Internal Audit Area, which examines the sufficiency of the procedures and their compliance. Internal Audit discusses the results of all evaluations with the administration and reports its findings and recommendations to the Board of Directors through the Audit Committee.

(c)

Measurement Methodology

Regarding to Credit Risk, provision levels and portfolio expenses are the basic measures for determining the credit quality of our portfolio.

Banco de Chile permanently evaluates its loan portfolio, timely recognizing the associated level of risk of the loan portfolio. To this end, there are guidelines for the generation of credit risk models, covering management models (reactive and proactive admission models and collection models), provision models (both under local regulations in accordance with the instructions issued by the CMF, as well as under IFRS criteria) and stress tests that are part of the Bank’s effective equity self-assessment process. The Board of Directors approves these guidelines and the models developed.

For the purposes of covering losses in the event of customers payment default, the Bank determines the level of provisions that must be established based on the following:

Individual evaluation: mainly applies to the Bank’s portfolio of legal persons that, due to their size, complexity or indebtedness, requires a more detailed level of knowledge and a case-by-case analysis. Each debtor is assigned one of the 16 risk categories defined by the CMF, in order to establish the provisions in a timely and appropriate manner. The review of the portfolio risk classifications is carried out permanently considering the financial situation, payment behavior and the environment of each client.

Group evaluation: mainly applies to the portfolio of natural persons and smaller companies. These assessments are carried out monthly through statistical models that allow estimating the level of provisions necessary to cover the portfolio risk; in the case of commercial and mortgage portfolios, these results are contrasted with the standard models provided by the regulator, with the resulting provision being the largest between both methods. The consistency analysis of the models is carried out through an independent validation of the unit that develops them and, subsequently, through the analysis of retrospective tests that allow to compare the real losses with the expected ones. In March 2024, the CMF issued the regulations that establish the Standardized Methodology for computing Provisions for Consumer Loans, whose provisions began to apply from the accounting closing of January 2025.

In order to validate the quality and robustness of the risk assessment processes, the Bank annually performs a test of the sufficiency of provisions for the total loan portfolio, thus verifying that the provisions established are sufficient to cover the losses that could derive from the credit operations granted. The result of this analysis is presented to the Board of Directors, who manifests itself on the sufficiency of the provisions in each fiscal year.

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47.

Risk Management and Report, continued:

Banco de Chile establishes additional provisions with the objective of protecting itself from the risk of unpredictable economic fluctuations that may affect the macroeconomic environment or the situation of a specific economic sector. At least once a year, the amount of additional provisions to be constituted or released is annually proposed to the Portfolio Risk Committee and subsequently to the Board of Directors for approval.

In this context, in January 2025, the Bank released additional provisions in response to the impact of the regulatory implementation of the standard consumer matrix.

The monitoring and control of risks are carried out mainly based on limits established by the Board of Directors. These limits reflect the Bank’s business and market strategy, as well as the level of risk that it is willing to accept, with additional emphasis on the selected industries.

The Bank develops its capital planning process in an integrated manner with its strategic planning, in line with the risks inherent to its activity, the economic and competitive environment, its business strategy, corporate values, as well as its governance, management and risk control. As part of the capital planning process and, in line with what is required by the regulator, Risk-Weighted Assets and stress tests are obtained in the dimensions of credit, market and operational risk, as well as the Comprehensive Measurement of financial and non-financial risks.

The Bank annually reviews and updates its Risk Appetite Framework, approved by the Board of Directors, that makes possible to identify, evaluate, measure, mitigate and control proactively and in advance all relevant risks that could materialize in the normal course of their business. To this end, the Bank uses different management tools and defines an adequate structure of alerts and limits, which are part of said Framework allowing it to constantly monitor the performance of different indicators and to implement timely corrective actions, in case those are needed. The result of these activities is part of the annual self-assessment report of effective equity approved by the Board of Directors and reported to the CMF.

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47.

Risk Management and Report, continued:

(2)

Credit Risk:

Credit risk considers the likelihood that the counterparty in the credit operation will not be able to fulfill its contractual obligation due to incapacity or financial insolvency, and this leads to a potential credit loss.

The Bank seeks an adequate risk-return relation and an appropriate balance of the risks assumed, through a permanent credit risk management considering the processes of admission, monitoring and recovery of the loans granted. Establishes the risk management framework for the different business segments it serves, responding to regulatory demands and commercial dynamism, being part of the digital transformation and contributing from a risk perspective to the various businesses addressed, through a vision of the portfolio that allows managing, resolving and controlling the business approval and monitoring process in an efficient and proactive manner.

In the business segments, the application of additional management processes is taken into consideration, to the extent required, for those financing requests that that will have a greater exposure to environmental and/or social risks.

The Bank integrates the socio-environmental criteria in its evaluations for the granting of financing destined to the development of projects, whether national or regional and that can generate an impact of this type, where they are executed. For the financing of projects, they must have the corresponding permits, authorizations, patents and studies, according to the impact they generate. In addition, the Bank has specialized units for serving large clients, through which the financing of project development is concentrated, including those of Public Works concessions that contemplate the construction of infrastructure, mining, electrical, real estate developments that can generate an environmental impact.

During 2024, progress was made in identifying the risks associated with climate change, generating heat maps for the individual portfolio, associated with exposure to Physical and Transition Risks. Likewise, within the framework of the development of the first National Taxonomy commanded by the Ministry of Finance, the Bank has advanced in the construction of a Classification Framework for Sustainable Financial Products and Services, with the objective of classifying the economic activities associated with said loans, using predefined selection criteria.

Credit policies and processes materialize in the following management principles, which are addressed with a specialized approach according to the characteristics of the different markets and segments served, recognizing the singularities of each one of them:

Apply a rigorous evaluation in the admission process, based on established credit policies, standards and procedures, together with the availability of sufficient and accurate information. Thus, it corresponds to analyze the generation of flows and solvency of the client to meet their payment commitments and, when the characteristics of the operation merit it, must constitute adequate collateral that allow mitigating the risk incurred with the client.

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47.

Risk Management and Report, continued:

Have permanent and robust portfolio tracking processes, through procedures and systems that alert both the potential signs of impairment of clients, with respect to the conditions of origin, and also the possible business opportunities with those that present a better payments quality and behavior.

To develop credit risk modeling guidelines, in regulatory aspects and management, for efficient decision-making at different stages of the credit process.

Have a collection structure with timely, agile and effective processes that allow management to be carried out in accordance with the different types of clients and the types of breaches that arise, always in strict adherence to the regulatory framework and the Bank’s reputational definitions.

Maintain an efficient administration in work teams organization, tools and availability of information that allow an optimal credit risk management.

Based on these management principles, the Corporate Risk Division contributes to the business and anticipates threats that may affect the solvency and quality of the portfolio, delivering timely responses to clients, maintaining the solid fundamentals that characterize the Bank’s portfolio in its different segments. and products.

The credit risk management process consists of the stages of Admission, Monitoring and Recovery or Collection for the retail and wholesale business segments served by the Bank.

(a)

Admission:

In the retail segments, admission management is carried out mainly through a risk evaluation that uses scoring tools and credit attribution to approve each operation. These evaluations, for natural persons without a business line and clients in the SME segment, take into consideration the level of indebtedness, the payment capacity and the maximum acceptable exposure for the client, through information on payment behavior, indebtedness in the financial system and business and financial information, as applicable.

Additionally, the bank has proactive admission processes for a diverse portfolio of clients. These consist of mass evalution of clients through statistical models of eligibility and payment capacity, generating credit offers aligned with the strategies defined. This makes possible to have preapproved credit offers available through multiple channels taking into consideration the business plan and the relation between risk and return.

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47.

Risk Management and Report, continued:

While in the Wholesale segments, the management of admission is carried out through an individual analysis of the client, also the relationship with the rest of the entities is also considered if applicable. This analysis takes into consideration among other factors the capacity to generate cash, the financial situation with emphasize on the equity solvency, the levels of exposure, variables of the industry, evaluation of the shareholders and the management, the specific aspects of the operations like the structure and term of the financing, products and guarantees. The mentioned evaluation is supported by a rating model that permits greater homogeneity in the client analysis and their group.

There are also specialized areas of segments that by their nature need the knowledge of an expert, such as real estate, construction, agriculture, finance, international, among others. These experts support the preparation of the operations having certain tools designed to meet the needs of the specific characteristics of the businesses and their respective risks.

(b)

Follow Up:

From granting a credit until it expires, it is necessary to have a follow up of the behaviour and financial situation of the debtor with emphasis on its payment capacity, as the situation of the client and associated risk change over time. Portfolio monitoring allows the bank to act proactively if signs of overall impairment are detected or if the debtor’s ability to meet its obligations is affected.

In order to properly follow up, methodologies and tools for diverse segments that the bank participates, have been developed, those then permit a proper management of its credit portfolio.

In the retails segments, the control and follow up concentrate on monitoring the main indicators of the portfolio and analysis of the groups, reported in the management reports, generating relevant information for the decisión making in different occasions defined. At the same time special follow ups are generated according to the relevants facts of the environment.

While in the wholesale segments, a permanent follow up is carried out through management tools at individual level taking into consideration the business segments, economical sectors. Through this process the alarms are generated that guarantee the correct and prompt recognition of the risk in the portfolio of individuals. The specific conditions established in the admission at the moment of approval like the financial covenants, coverage of certain guarantees and others, are monitored.

Additionally, in the admission area, simultaneous follow up tasks are carried out that permit the monitoring of the development of the operations from the beginning until recovering the capital, having as the objective to make sure that the portfolio´s risks are correctly and promptly identified, at the same time managing proactively the cases with higher risks.

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47.

Risk Management and Report, continued:

(c)

Recovery and collection:

The Bank has specific regulations related to customer collection and normalization, which ensure the quality of the portfolio in accordance with credit policies, and the desired risk appetite framework and strict adherence to the current regulatory framework. Through collection management, the clients with temporary cash flow problems are favored, debt normalization plans are proposed for viable clients, so that it is possible to maintain the relationship in the long term once their situation is regularized. The recovery of assets at risk is maximized and the necessary collection actions are carried out, in a timely manner, to ensure the recovery of debts or reduce the potential loss.

In the retail segments, the Bank defines refinancing criteria through the establishment of predefined renegotiation guidelines to resolve the debt issues of viable clients with payment intentions, maintaining an adequate risk-return relationship, along with the incorporation of robust tools to differentiated collection management.

For its part, in the wholesale segments, when detecting clients that show signs of deterioration or non-compliance with any type or condition, the commercial area to which the client belongs, together with the Corporate Risk Division, establish action plans for their regularization. In those cases of greater complexity where specialized management is required, the Special Asset Management area, is directly in charge of collection management, establishing action plans and negotiations based on the particular characteristics of each customer.

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47.

Risk Management and Report, continued:

(d)

Portfolio Concentration:

The maximum exposure to credit risk, by client or counterparty, without taking into account guarantees or other credit enhancements as of March 31, 2025 and December 31, 2024, does not exceed 10% of the Bank’s effective equity.

The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of March 31, 2025:

	Chile		United States		England		Brazil		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets

Cash and Due from Banks		1,220,464		1,043,988		16,230		8		50,517		2,331,207

Financial assets held for trading at fair value through profit or loss:

Derivative contracts financial
Forwards (*)		129,900		6,294		62,747		—		41,592		240,533
Swaps (**)		812,530		59,073		796,566		—		132,054		1,800,223
Call Options		1,595		—		837		—		223		2,655
Put Options		1,069		—		57		—		12		1,138
Futures		—		—		—		—		—		—
Subtotal		945,094		65,367		860,207		—		173,881		2,044,549

Debt Financial Instruments
From the Chilean Government and Central Bank		2,594,930		—		—		—		—		2,594,930
Other debt financial instruments issued in Chile		155,591		—		—		—		—		155,591
Financial debt instruments issued Abroad		—		—		—		—		—		—
Subtotal		2,750,521		—		—		—		—		2,750,521

Others Financial Instruments
Investments in mutual funds		322,111		—		—		—		—		322,111
Equity instruments		2,569		4,821		—		—		—		7,390
Others		1,495		1,341		—		—		—		2,836
Subtotal		326,175		6,162		—		—		—		332,337

Financial Assets at fair value through other comprehensive income:

Debt Financial Instruments
From the Chilean Government and Central Bank		633,706		—		—		—		—		633,706
Other debt financial instruments issued in Chile		1,227,347		—		—		—		—		1,227,347
Financial debt instruments issued Abroad		—		86,680		—		—		—		86,680
Subtotal		1,861,053		86,680		—		—		—		1,947,733

Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—
Swaps		—		19,073		28,035		—		—		47,108
Call Options		—		—		—		—		—		—
Put Options		—		—		—		—		—		—
Futures		—		—		—		—		—		-
Subtotal		—		19,073		28,035		—		—		47,108

Financial assets at amortized cost:
Rights from resale agreements and securities lending		99,283		—		—		—		—		99,283

Debt Financial Instruments
From the Chilean Government and Central Bank		929,301		—		—		—		—		929,301
Subtotal		929,301		—		—		—		—		929,301

Loans and advances to Banks
Central Bank of Chile		1,100,000		—		—		—		—		1,100,000
Domestic banks		200,000		—		—		—		—		200,000
Foreign Banks (***)		—		4,775		—		262,217		133,773		400,765
Subtotal		1,300,000		4,775		—		262,217		133,773		1,700,765

Loans to Customers, Net
Commercial loans		20,154,015		—		—		—		118,591		20,272,606
Residential mortgage loans		13,499,416		—		—		—		—		13,499,416
Consumer loans		5,548,313		—		—		—		—		5,548,313
Subtotal		39,201,744		—		—		—		118,591		39,320,335

(*)	Others includes: France Ch$38,522 million, Switzerland Ch$2,654 and Belgium Ch$416 million.

(**)	Others includes: France Ch$33,011 million, Spain Ch$26,377 million and Canada Ch$72,666 million.

(***)

Others includes: China Ch$54,306 million, Netherlands Ch$25,569 million, South Korea Ch$27,868 and Switzerland Ch$26,030.

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47.

Risk Management and Report, continued:

	Central Bank of Chile		Government		Retail (Individuals)		Financial Services		Trade		Manufacturing		Mining		Electricity, Gas and Water		Agriculture and Livestock		Fishing		Transportation and Telecom		Construction		Services		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Cash and Due from Banks		315,366		—		—		2,015,841		—		—		—		—		—		—		—		—		—		—		2,331,207

Financial Assets held for trading at fair value through profit or loss:
Derivative contracts Financial
Forwards		—		—		—		222,012		4,991		6,611		158		1,692		791		87		2,504		854		833		—		240,533
Swaps		—		—		—		1,715,341		1,031		2,375		—		15,409		18,220		1,035		36,977		5,240		4,595		—		1,800,223
Call Options		—		—		—		1,142		404		504		—		—		574		—		24		—		7		—		2,655
Put Options		—		—		—		438		593		105		—		—		2		—		—		—		—		—		1,138
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		1,938,933		7,019		9,595		158		17,101		19,587		1,122		39,505		6,094		5,435		—		2,044,549

Debt Financial Instruments
From the Chilean Government and Central Bank		2,365,167		229,763		—		—		—		—		—		—		—		—		—		—		—		—		2,594,930
Other debt financial instruments issued in Chile		—		—		—		155,591		—		—		—		—		—		—		—		—		—		—		155,591
Financial debt instruments issued Abroad		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		2,365,167		229,763		—		155,591		—		—		—		—		—		—		—		—		—		—		2,750,521

Others Financial Instruments
Investments in mutual funds		—		—		—		322,111		—		—		—		—		—		—		—		—		—		—		322,111
Equity instruments		—		—		—		7,390		—		—		—		—		—		—		—		—		—		—		7,390
Others		—		—		—		2,836		—		—		—		—		—		—		—		—		—		—		2,836
Subtotal		—		—		—		332,337		—		—		—		—		—		—		—		—		—		—		332,337

Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments
From the Chilean Government and Central Bank		—		633,706		—		—		—		—		—		—		—		—		—		—		—		—		633,706
Other debt financial instruments issued in Chile		—		—		—		1,193,705		5,320		—		—		11,431		11,738		—		5,153		—		—		—		1,227,347
Financial debt instruments issued Abroad		—		—		—		86,680		—		—		—		—		—		—		—		—		—		—		86,680
Subtotal		—		633,706		—		1,280,385		5,320		—		—		11,431		11,738		—		5,153		—		—		—		1,947,733

Financial Derivative contracts for hedging purposes
Forwards		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Swaps		—		—		—		47,108		—		—		—		—		—		—		—		—		—		—		47,108
Call Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		47,108		—		—		—		—		—		—		—		—		—		—		47,108

Financial assets at amortized cost (*)
Rights from resale agreements		—		—		—		93,671		—		—		—		—		—		—		—		—		5,612		—		99,283

Debt financial instruments
From the Chilean Government and Central Bank		—		929,301		—		—		—		—		—		—		—		—		—		—		—		—		929,301
Subtotal		—		929,301		—		—		—		—		—		—		—		—		—		—		—		—		929,301

Loans and advances to Banks
Central Bank of Chile		1,100,000		—		—		—		—		—		—		—		—		—		—		—		—		—		1,100,000
Domestic banks		—		—		—		200,000		—		—		—		—		—		—		—		—		—		—		200,000
Foreign banks		—		—		—		400,765		—		—		—		—		—		—		—		—		—		—		400,765
Subtotal		1,100,000		—		—		600,765		—		—		—		—		—		—		—		—		—		—		1,700,765

(*)

Economic activity of Loans and accounts receivable from customers disclosed in Note No. 13 letter (g).

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47.

Risk Management and Report, continued:

The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of December 31, 2024:

	Chile		United States		England		Brazil		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets

Cash and Due from Banks		1,928,373		652,953		20,508		8		97,234		2,699,076

Financial assets held for trading at fair value through profit or loss:

Derivative contracts financial
Forwards (*)		161,046		4,215		30,380		—		32,029		227,670
Swaps (**)		927,824		57,428		917,837		—		167,392		2,070,481
Call Options		3,937		—		1,012		—		—		4,949
Put Options		250		—		3		—		—		253
Futures		—		—		—		—		—		—
Subtotal		1,093,057		61,643		949,232		—		199,421		2,303,353

Debt Financial Instruments
From the Chilean Government and Central Bank		1,495,457		—		—		—		—		1,495,457
Other debt financial instruments issued in Chile		217,948		—		—		—		—		217,948
Financial debt instruments issued Abroad		—		976		—		—		—		976
Subtotal		1,713,405		976		—		—		—		1,714,381

Others Financial Instruments
Investments in mutual funds		408,121		—		—		—		—		408,121
Equity instruments		1,039		—		—		—		—		1,039
Others		1,930		599		—		—		—		2,529
Subtotal		411,090		599		—		—		—		411,689

Financial Assets at fair value through other comprehensive income:

Debt Financial Instruments
From the Chilean Government and Central Bank		660,777		—		—		—		—		660,777
Other debt financial instruments issued in Chile		1,375,630		—		—		—		—		1,375,630
Financial debt instruments issued Abroad		—		51,938		—		—		—		51,938
Subtotal		2,036,407		51,938		—		—		—		2,088,345

Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—
Swaps		—		28,599		40,794		—		4,566		73,959
Call Options		—		—		—		—		—		—
Put Options		—		—		—		—		—		—
Futures		—		—		—		—		—		—
Subtotal		—		28,599		40,794		—		4,566		73,959

Financial assets at amortized cost:
Rights from resale agreements and securities lending		87,291		—		—		—		—		87,291

Debt Financial Instruments
From the Chilean Government and Central Bank		944,109		—		—		—		—		944,109
Subtotal		944,109		—		—		—		—		944,109

Loans and advances to Banks
Central Bank of Chile		—		—		—		—		—		—
Domestic banks		300,042		—		—		—		—		300,042
Foreign Banks (***)		—		—		—		269,191		98,470		367,661
Subtotal		300,042		—		—		269,191		98,470		667,703

Loans to Customers, Net
Commercial loans		19,985,358		—		—		—		119,870		20,105,228
Residential mortgage loans		13,218,586		—		—		—		—		13,218,586
Consumer loans		5,551,306		—		—		—		—		5,551,306
Subtotal		38,755,250		—		—		—		119,870		38,875,120

(*)	Others includes: France Ch$28,892 million and Spain Ch$2,313 million.

(**)	Others includes: France Ch$43,194 million, Spain Ch$31,437 million and Canada Ch$92,761 million.

(***)

Others includes: China Ch$32,260 million and Netherlands Ch$26,931 million.

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47.

Risk Management and Report, continued:

	Central Bank of Chile		Government		Retail (Individuals)		Financial Services		Trade		Manufacturing		Mining		Electricity, Gas and Water		Agriculture and Livestock		Fishing		Transportation and Telecom		Construction		Services		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Cash and Due from Banks		1,036,476		—		—		1,662,600		—		—		—		—		—		—		—		—		—		—		2,699,076

Financial Assets held for trading at fair value through profit or loss:
Derivative contracts Financial
Forwards		—		—		—		199,429		3,890		13,094		200		2,394		5,024		315		1,183		638		1,503		—		227,670
Swaps		—		—		—		1,972,003		1,079		7,970		—		13,947		23,613		1,756		37,459		7,758		4,896		—		2,070,481
Call Options		—		—		—		1,182		1,036		1,159		—		—		1,483		—		76		—		13		—		4,949
Put Options		—		—		—		90		137		26		—		—		—		—		—		—		—		—		253
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		2,172,704		6,142		22,249		200		16,341		30,120		2,071		38,718		8,396		6,412		—		2,303,353

Debt Financial Instruments
From the Chilean Government and Central Bank		1,217,317		278,140		—		—		—		—		—		—		—		—		—		—		—		—		1,495,457
Other debt financial instruments issued in Chile		—		—		—		217,948		—		—		—		—		—		—		—		—		—		—		217,948
Financial debt instruments issued Abroad		—		—		—		976		—		—		—		—		—		—		—		—		—		—		976
Subtotal		1,217,317		278,140		—		218,924		—		—		—		—		—		—		—		—		—		—		1,714,381

Others Financial Instruments
Investments in mutual funds		—		—		—		408,121		—		—		—		—		—		—		—		—		—		—		408,121
Equity instruments		—		—		—		1,039		—		—		—		—		—		—		—		—		—		—		1,039
Others		—		—		—		2,529		—		—		—		—		—		—		—		—		—		—		2,529
Subtotal		—		—		—		411,689		—		—		—		—		—		—		—		—		—		—		411,689

Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments
From the Chilean Government and Central Bank		—		660,777		—		—		—		—		—		—		—		—		—		—		—		—		660,777
Other debt financial instruments issued in Chile		—		—		—		1,342,558		5,202		—		—		11,315		11,503		—		5,052		—		—		—		1,375,630
Financial debt instruments issued Abroad		—		—		—		51,938		—		—		—		—		—		—		—		—		—		—		51,938
Subtotal		—		660,777		—		1,394,496		5,202		—		—		11,315		11,503		—		5,052		—		—		—		2,088,345

Financial Derivative contracts for hedging purposes
Forwards		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Swaps		—		—		—		73,959		—		—		—		—		—		—		—		—		—		—		73,959
Call Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		73,959		—		—		—		—		—		—		—		—		—		—		73,959

Financial assets at amortized cost (*)
Rights from resale agreements		—		—		—		82,505		—		—		—		—		—		—		—		—		4,786		—		87,291

Debt financial instruments
From the Chilean Government and Central Bank		—		944,109		—		—		—		—		—		—		—		—		—		—		—		—		944,109
Subtotal		—		944,109		—		—		—		—		—		—		—		—		—		—		—		—		944,109

Loans and advances to Banks
Central Bank of Chile		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Domestic banks		—		—		—		300,042		—		—		—		—		—		—		—		—		—		—		300,042
Foreign banks		—		—		—		367,661		—		—		—		—		—		—		—		—		—		—		367,661
Subtotal		—		—		—		667,703		—		—		—		—		—		—		—		—		—		—		667,703

(*)

Economic activity of Loans and accounts receivable from customers disclosed in Note No. 13 letter (g).

176

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(e)

Collaterals and Other Credit Enhancements:

The amount and type of collateral required depends on the counterparty’s credit risk assessment.

The Bank has guidelines regarding the acceptability of types of collateral and valuation parameters.

The main types of collateral obtained are:

●

For commercial loans: Residential and non-residential real estate, liens and inventory.

●

For retail loans: Mortgages loans on residential property.

The Bank also obtains collateral from parent companies for loans granted to their subsidiaries.

Management makes sure its collateral is acceptable according to both external standards and internal policies guidelines and parameters. The Bank has approximately 252,786 collateral assets as of March 31, 2025 (248,807 in December 2024), the majority of which consist of real estate. The following table contains guarantees value:

			Guarantee
March 2025	Loans		Mortgages		Pledges		Securities		Warrants		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Corporate Lending		15,443,297		4,036,185		159,149		603,034		1,854		4,800,222
Small Business Lending		4,829,309		3,503,833		15,254		9,548		—		3,528,635
Consumer Lending		5,548,313		382,486		544		2,571		—		385,601
Mortgage Lending		13,499,416		12,958,295		110		—		—		12,958,405
Total		39,320,335		20,880,799		175,057		615,153		1,854		21,672,863

			Guarantee
December2024	Loans		Mortgages		Pledges		Securities		Warrants		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Corporate Lending		15,278,242		3,985,392		137,504		559,132		1,345		4,683,373
Small Business Lending		4,826,986		3,465,474		14,464		10,240		—		3,490,178
Consumer Lending		5,551,306		387,195		552		2,500		—		390,247
Mortgage Lending		13,218,586		12,711,594		120		—		—		12,711,714
Total		38,875,120		20,549,655		152,640		571,872		1,345		21,275,512

The Bank also uses mitigating tactics for credit risk on derivative transactions. To date, the following mitigating tactics are used:

●

Accelerating transactions and net payment using market values at the date of default of one of the parties.

	●	Option for both parties to terminate early any transactions with a counterparty at a given date, using market values as of the respective date.

		Margins established with time deposits by customers who have FX forwards with subsidiary Banchile Corredores de Bolsa S.A.

177

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(e)

Collaterals and Other Credit Enhancements, continued:

The value of the guarantees that the Bank maintains related to the loans individually classified as impaired as of March 31, 2025 and December 31, 2024 amounted Ch$178,791 million and Ch$183,021 million, respectively.

The value guarantees related to past due loans but no impaired as of March 31, 2025 and December 31, 2024 amounted Ch$543,799 million and Ch$521,142 million respectively.

(f)

Credit Quality by Asset Class:

The Bank determines the credit quality of financial assets using internal credit ratings. The rating process is linked to the Bank’s approval and monitoring processes and is carried out in accordance with risk categories established by current standards. Credit quality is continuously updated based on any favorable or unfavorable developments to customers or their environments, considering aspects such as commercial and payment behavior as well as financial information.

The Bank also carries out reviews focused on companies that participate in specific economic sectors, which are affected either by macroeconomic variables or variables of the sector. In this way, it is possible to timely establish the necessary and sufficient level of provisions to cover the losses due to the eventual non-recoverability of the credits granted.

The credit quality by asset class for Consolidated Statements of Financial Position sheet items, based on the Bank’s credit rating system, is presented in Note No. 13 letter (d).

Below is the detail of the default but not impaired portfolio:

	Past due but no impaired (*)
	1 to 29 days		30 to 59 days		60 to 89 days		90 or more days
	MCh$		MCh$		MCh$		MCh$

March 2025		838,263		212,382		75,053		—
December 2024		837,159		207,787		62,454		—

(*)

These amounts include the overdue portion and the remaining balance of loans in default.

(g)

Assets Received in Lieu of Payment:

The Bank has received assets in lieu of payment totaling Ch$32,569 million and Ch$32,929 million as of March 31, 2025 and December 31, 2024, respectively, the majority of which are properties. All of these assets are managed for sale.

178

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(h)

Renegotiated Assets:

The loans are presented as renegotiated in the balance sheet correspond to those in which the corresponding financial commitments have been restructured and the Bank assesses the probability of recovery as sufficiently high.

The following table details the book value of loans with renegotiated terms per financial asset class:

	March		December
	2025		2024
Financial Assets	MCh$		MCh$
Loans and advances to banks
Central Bank of Chile	—		—
Domestic banks	—		—
Foreign banks	—		—
Subtotal	—		—

Loans to customers, net
Commercial loans		506,804		484,156
Residential mortgage loans		307,301		299,599
Consumer loans		365,849		369,183
Subtotal		1,179,954		1,152,938
Total renegotiated financial assets		1,179,954		1,152,938

(i)

Compliance with credit limit granted to related debtors:

Below are detailed the figures for compliance with the credit limit granted to debtors related to the ownership or management of the Bank and subsidiaries, in accordance with the Article 84 No. 2 of the General Banking Law, which establishes that in no case the total of these credits may exceed the amount of its Total or Regulatory Capital:

	March 2025			December 2024
	MCh$			MCh$

Total related debt		462,428			579,923
Consolidated Total or Regulatory Capital		6,728,532			6,955,292
Limit used %		6.87	%		8.34	%

179

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk:

Market Risk refers to the loss that the Bank could face due to a liquidity shortage to honor the payments, or to close financial transactions in a timely manner (Liquidity Risk), or due to adverse movements in the values of market variables (Risk Price). For its correct management, the guidelines of the Liquidity Risk Management Policy and the Market Risk Management Policy are considered, both are subject to review, at least annually, by the Market Risk Manager and approval by the Bank’s Board of Directors, at least annually.

Liquidity Risk:

Liquidity Risk Measurement and Limits

The Bank manages the Liquidity Risk in accordance with the established on the Liquidity Risk Management Policy, managing separately for each sub-category thereof; this is for Trading Liquidity Risk and Funding Liquidity Risk.

Trading Liquidity Risk is the inability to close, at current market prices, the financial positions opened mainly from the Trading Book (which is daily valued at market prices and the value differences instantly reflected in the Income Statement). This risk is controlled by establishing limits on the positions amounts of the Trading Book in accordance with what is estimated to be closed in a short time period. Additionally, the Bank incorporates a negative impact on the Income Statement whenever it considers that the size of a certain position in the Trading Book exceeds the reasonable amount, negotiated in the secondary markets, which would allow the exposure to be offset without altering market prices.

Funding Liquidity Risk refers to the Bank’s inability to obtain sufficient cash to meet its immediate obligations. This risk is managed by a minimum amount of highly liquid assets called liquidity buffer, and establishing limits and controls of internal metrics, among which the Market Access Report (“MAR”) stands out, which estimates the amount of funding that the Bank would need from wholesale financial counterparties, for the next 30 and 90 days in each of the relevant currencies of the balance sheet, to face a cash need as a result of the operation under business as usual conditions.

180

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

The use as of March within 2025 is illustrated below (LCCY = local currency; FCCY = foreign currency):

	MAR LCCY + FCCY BCh$				MAR FCCY MUS$
	1 - 30 days		1 - 90 days			1 - 30 days

Maximum		2,250		4,565	Maximum		1,007
Minimum		1,068		3,455	Minimum		192
Average		1,661		3,911	Average		679

The Bank also monitors the amount of assets denominated in local currency that is funded by liabilities denominated in foreign currency, including all tenors and the cash flows generated by full delivery derivatives payments. This metric is referred to as Cross Currency Funding. The bank oversees and limits this amount in order to take precautions against not only Banco de Chile’s event but also against a systemic adverse environment generated by a country risk event that might trigger lack of foreign currency funding.

The use of Cross Currency Funding within the year 2025 is illustrated below:

	Cross Currency Funding MUS$

Maximum		2,332
Minimum		604
Average		1,584

The Bank establishes thresholds that alert behaviors outside the expected ranges at a normal or prudent level of operation, in order to protect other dimensions of liquidity risk such as, for example, maturities concentration of fund providers, the diversification of sources of funds either by type of counterparty or type of product, among others.

The evolution over time of the statement of financial ratios of the Bank is monitored in order to detect structural changes in the characteristics of the balance sheet, such as those presented in the following table and whose relevant values of use during the year 2025 are shown below:

	Funding Financial Counterparties/ Assets			Deposits/ Loans

Maximum		36	%		64	%
Minimum		36	%		61	%
Average		36	%		62	%

181

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

Additionally, some market index, prices and monetary decisions taken by the Central Bank of Chile are monitored to detect structural changes in market conditions that can trigger a liquidity shortage or even a financial crisis.

Furthermore, the Liquidity Risk Management Policy enforces to perform stress tests periodically which are controlled against potentially accessible action plans in each modeled scenario, according with the guidelines established in the Liquidity Contingency Plan. This process is essential in determining the liquidity risk appetite framework of the institution.

The Bank measures and controls the mismatch of cash flows under regulatory standards with the C46 index report, which represents the net cash flows expected over time as a result of the contractual maturity of almost all assets and liabilities. Additionally, the Commission for the Financial Market (hereinafter, “CMF”) authorized Banco de Chile, among others, to report the adjusted C46 index. This allows the Bank to report, in addition to the regular C46 index, outflow behavior assumptions of certain specific elements of the liability, such as demand deposits and time deposits. In addition, the regulator also requires some rollover assumptions for the loan portfolio.

To date, the CMF establish the following dispositions for the C46 index:

Foreign Currency balance sheet items: 1-30 days, Regulatory Limit C46 index < 1 x Tier-1 Capital

The levels of use of this index during the year 2025 is illustrated below:

	Adjusted C46 CCY and FCCY as part of Basic Capital				Adjusted C46 FCCY as part of Basic Capital
	1 - 30 days		1 - 90 days		1 - 30 days

Maximum		0.21		0.20		0.24
Minimum		0.09		0.07		0.20
Average		0.16		0.12		0.22
Regulatory Limit		N/A		N/A		1.0

182

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

The individual and consolidated term liquidity gap are presented below:

QUARTERLY STATEMENT OF INDIVIDUAL LIQUIDITY SITUATION
AS OF MARCH 31, 2025 CONTRACTUAL BASIS
Values in MCh$

CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		9,453,065		11,073,035		12,284,356		16,533,662
Cash flow payable (liabilities) and expenses		20,167,146		22,524,618		26,177,907		30,176,234
Liquidity Gap		10,714,081		11,451,583		13,893,551		13,642,572

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		1,684,517		1,924,015		1,988,949		2,694,088
Cash flow payable (liabilities) and expenses		3,229,349		3,592,814		4,155,564		5,137,215
Liquidity Gap		1,544,832		1,668,799		2,166,615		2,443,127

Limits:
One time capital						5,275,648
AVAILABLE MARGIN						3,109,033

In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,109,032,028,243.

QUARTERLY STATEMENT OF INDIVIDUAL LIQUIDITY SITUATION
AS OF MARCH 31, 2025 ADJUSTED BASIS
Values in MCh$

CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		9,038,994		10,316,041		10,983,489		13,651,449
Cash flow payable (liabilities) and expenses		9,988,447		10,917,464		12,353,417		14,941,002
Liquidity Gap		949,453		601,423		1,369,928		1,289,553

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		1,528,438		1,648,134		1,538,167		1,748,342
Cash flow payable (liabilities) and expenses		2,189,528		2,447,634		2,870,553		3,747,355
Liquidity Gap		661,090		799,500		1,332,386		1,999,013

Limits:
One time capital						5,275,648
AVAILABLE MARGIN						3,943,262

In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,943,262,801,920.

183

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

QUARTERLY STATEMENT OF CONSOLIDATED LIQUIDITY SITUATION
AS OF MARCH 31, 2025 CONTRACTUAL BASIS
Values in MCh$

CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		10,297,499		11,923,461		13,145,752		17,433,342
Cash flow payable (liabilities) and expenses		20,851,598		23,209,071		26,868,739		30,906,433
Liquidity Gap		10,554,099		11,285,610		13,722,987		13,473,091

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		1,684,580		1,924,079		1,989,012		2,694,153
Cash flow payable (liabilities) and expenses		3,229,349		3,592,814		4,155,564		5,137,279
Liquidity Gap		1,544,769		1,668,735		2,166,552		2,443,126

Limits:
One time capital						5,275,647
AVAILABLE MARGIN						3,109,095

In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,109,095,287,626.

QUARTERLY STATEMENT OF CONSOLIDATED LIQUIDITY SITUATION
AS OF MARCH 31, 2025 ADJUSTED BASIS
Values in MCh$

CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		9,883,428		11,166,467		11,844,886		14,551,129
Cash flow payable (liabilities) and expenses		10,672,900		11,601,916		13,044,249		15,671,201
Liquidity Gap		789,472		435,449		1,199,363		1,120,072

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days

Cash flow receivable (assets) and income		1,528,501		1,648,197		1,538,230		1,748,407
Cash flow payable (liabilities) and expenses		2,189,528		2,447,634		2,870,553		3,747,419
Liquidity Gap		661,027		799,437		1,332,323		1,999,012

Limits:
One time capital						5,275,648
AVAILABLE MARGIN						3,943,325

In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,943,325,061,299.

184

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

Liquid Assets Consolidated Balance Statement as of March 31, 2025, values in BCh$

Source: Financial Statements Banco de Chile as of March 31, 2025

Additionally, the regulatory entities have introduced other metrics that the Bank uses in its management, such as the Liquidity Coverage Ratio (“LCR”) and Net Stable Financing Ratio (“NSFR”), using assumptions similar to those used in the international banking. For the first, the minimum level required is 1 time (100%) of the LCR indicator, while for the second the limit requirement is 0.9 times (90%) of the NSFR indicator. The evolution of the LCR and NSFR metrics during the year 2025 are shown below:

	LCR		NSFR

Maximum		2.03		1.22
Minimum		1.86		1.19
Average		1.93		1.20
Regulatory Limit		1.00		0.9	(*)

(*)

By transitory disposition of the Central Bank of Chile, in Chapter III.B.2.1 of the Compendium of Accounting Standards for Banks, this limit will gradually increase until reaching 1.0 in January 2026.

185

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(a)

Liquidity Risk, continued:

The contractual maturity profile of the financial liabilities of Banco de Chile and its subsidiaries (consolidated basis), to March 2025 and December 2024, is as follows:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of March 31, 2025
Transactions in the course of payment		534,594		—		—		—		—		—		534,594
Full delivery derivative transactions		442,673		448,059		798,097		1,096,313		820,650		1,509,708		5,115,500
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,560,376		—		—		—		—		—		14,560,376
Saving accounts and time deposits		9,885,963		3,200,836		2,370,918		182,209		326		554		15,640,806
Obligations by repurchase agreements and securities lending		102,341		39,866		—		—		—		—		142,207
Borrowings from financial institutions		99,346		374,356		817,587		—		—		—		1,291,289
Debt financial instruments issued (all currencies)		112,667		428,273		1,229,759		2,822,223		2,467,200		4,328,144		11,388,266
Other financial obligations		320,709		—		—		—		—		—		320,709
Financial instruments of regulatory capital issued (subordinated bonds)		3,582		19,460		29,399		94,136		90,554		1,164,522		1,401,653
Total (excluding non-delivery derivative transactions)		26,062,251		4,510,850		5,245,760		4,194,881		3,378,730		7,002,928		50,395,400

Non-delivery derivative transactions		324,302		218,795		1,534,108		1,010,958		836,504		1,912,627		5,837,294

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of December 31, 2024
Transactions in the course of payment		283,605		—		—		—		—		—		283,605
Full delivery derivative transactions		728,329		328,138		972,304		1,202,183		861,833		1,490,511		5,583,298
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,263,303		—		—		—		—		—		14,263,303
Saving accounts and time deposits		9,437,781		2,670,440		2,138,233		56,593		450		562		14,304,059
Obligations by repurchase agreements and securities lending		109,280		66		527		—		—		—		109,873
Borrowings from financial institutions		22,207		159,438		921,822		—		—		—		1,103,467
Debt financial instruments issued (all currencies)		13,893		158,375		1,178,285		2,983,446		2,328,034		4,472,111		11,134,144
Other financial obligations		284,479		—		—		—		—		—		284,479
Financial instruments of regulatory capital issued (subordinated bonds)		3,140		—		48,654		92,974		89,437		1,153,294		1,387,499
Total (excluding non-delivery derivative transactions)		25,146,017		3,316,457		5,259,825		4,335,196		3,279,754		7,116,478		48,453,727

Non-delivery derivative transactions		153,172		399,612		1,201,809		1,385,711		894,295		1,912,040		5,946,639

186

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk:

The Price Risk measurement and management processes are carried out in accordance with the established on the Market Risk Management Policy, by using internal metrics developed by the Bank, both for the Trading Book and for the Banking Book (the Banking Book includes all balance sheet items, including those in the Trading Book but in such case these are reported at an interest rate adjustment term of one day, thus not generating accrual interest rate risk). In addition, the portfolio recorded under the Fair Value Through Other Comprehensive Income (hereinafter FVOCI) is considered, which is a sub-set of the Banking Book, which given its nature is relevant to measure it independently. In addition, the Bank reports metrics to regulatory entities according to the models defined by them.

The Bank has established internal limits for the exposures of the Trading Book. In fact, FX positions (FX delta), interest rate sensitivities generated by the derivatives and debt securities portfolios (DV01 or also referred as to rho) and the FX options volatility sensitivity (vega) are measured, reported and controlled against their limits. Limits are established on an aggregate basis but also for some specific tenor points. The use of these limits is daily monitored, controlled and reported by independent control functions to the senior management of the bank. The internal governance framework also establishes that these limits must be approved by the board and reviewed at least annually.

The Bank measures and controls the risk for the Trading Book portfolios using the Value-at-Risk (VaR). The model uses a 99% confidence level and the most recent one-year observed rates, prices and yields data.

The use of VaR within the year 2025 is illustrated below:

	Value-at-Risk 99% one-day confidence level
	MCh$

Maximum		1,349
Minimum		792
Average		1,057

Additionally, the Bank performs measuring, limiting, controlling and reporting interest rate exposures and risks for the Banking Book using internally developed methodologies based on the differences in the amounts of assets and liabilities considering the interest rate repricing dates. Exposures are measured according to the Interest Rate Exposure or IRE metric and their corresponding risks using the Earnings-at-Risk or EaR metric. Within these metrics, Prepayment Risk is considered, which corresponds to the customer’s ability to pay, totally or partially, their debt before maturity. For this, a loan flow allocation model is generated with exposure to interest rate fluctuations, according to their prepayment behavior, finally reflecting a decrease in their average maturity term.

187

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

The use of EaR within the year 2025 is illustrated below:

	12- months Earnings-at-Risk 99% confidence level 3 months closing period
	MCh$

Maximum		228,505
Minimum		223,845
Average		226,699

The regulatory risk measurement for the Trading Book (Market Risk Weighted Assets report or mRWA) is produced by utilizing guidelines provided by the Central Bank of Chile (hereinafter, “BCCh”) and the CMF. The referred methodologies estimate the potential loss that the bank may incur considering standardized fluctuations of the value of market factors such as FX rates, interest rates and volatilities that may adversely impact the value of FX spot positions, interest rate exposures, and volatility exposures, respectively. Interest rates changes are provided by the regulatory entity; moreover, correlation factors and very conservative term are included to explain non-parallel changes in the yield curve.

The risk measurement for the Banking Book, according to regulatory guidelines (RMLB report by its Spanish initials), as a result of interest rate fluctuations is carried out through the use of standardized methodologies provided by regulatory entities (BCCh and CMF). The report includes models for reporting interest rate gaps and how their value varies, according to rate fluctuations that are defined by the scenarios provided by the regulations. In addition to this, the regulatory entity has requested banks to establish internal limits, separately for short-term and long-term balances, NII and EVE respectively, for these regulatory measurements.

The results effectively realized during the month for trading activities are controlled against defined loss levels and if these levels are exceeded, senior management is notified in order to evaluate potential corrective actions.

Finally, the Market Risk Management Policy of Banco de Chile enforces to perform daily stress tests for the Trading Book and monthly for the Banking Book. Additionally, the stress test for the FVOCI portfolio is included, which is reported daily. The output of the stress testing process is monitored against corresponding alert levels; in the case those triggers are breached, the senior management is notified in order to implement further actions, if necessary. Additionally, these book tests are a fundamental part of establishing the Bank’s price risk appetite framework.

188

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47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets as of March 31, 2025
Cash and due from banks		2,309,525		—		—		—		—		—		2,309,525
Transactions in the course of collection		345,996		—		—		—		—		—		345,996
Financial assets at fair value through other comprehensive income:
Debt financial instruments		92,126		187,081		915,260		414,634		229,320		109,311		1,947,732
Derivative financial instruments for hedging purposes		4,728		44,091		261,045		423,555		329,884		859,529		1,922,832
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—		—		—		—		—		—
Debt financial instruments		1,203		—		495,476		26,536		159,432		302,547		985,194
Loans and advances to Banks		1,521,572		172,874		4,775		—		—		—		1,699,221
Loans to customers, net		5,423,358		3,845,455		7,900,625		8,871,118		5,681,550		15,406,256		47,128,362
Total Assets		9,698,508		4,249,501		9,577,181		9,735,843		6,400,186		16,677,643		56,338,862

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets as of December 31, 2024
Cash and due from banks		2,677,676		—		—		—		—		—		2,677,676
Transactions in the course of collection		382,677		—		—		—		—		—		382,677
Financial assets at fair value through other comprehensive income:
Debt financial instruments		143,990		272,612		867,605		490,101		217,174		96,808		2,088,290
Derivative financial instruments for hedging purposes		747		8,544		311,890		442,555		337,594		893,516		1,994,846
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—		—		—		—		—		—
Debt financial instruments		—		25,951		11,478		500,385		159,001		306,586		1,003,401
Loans and advances to Banks		398,595		58,098		216,769		—		—		—		673,462
Loans to customers, net		5,417,405		3,126,005		8,684,037		8,875,282		5,369,386		15,070,223		46,542,338
Total Assets		9,021,090		3,491,210		10,091,779		10,308,323		6,083,155		16,367,133		55,362,690

189

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of March 31, 2025
Transactions in the course of payment		502,225		—		—		—		—		—		502,225
Derivative Financial Instruments for hedging purposes		2,804		44,744		260,300		381,864		346,044		1,175,252		2,211,008
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,589,822		—		—		—		—		—		14,589,822
Saving accounts and time deposits		9,885,963		3,200,836		2,370,918		182,209		326		554		15,640,806
Obligations by repurchase agreements and securities lending		6,608		—		—		—		—		—		6,608
Borrowings from financial institutions		99,346		374,356		817,587		—		—		—		1,291,289
Debt financial instruments issued (*)		112,667		428,273		1,229,759		2,822,223		2,467,200		4,328,144		11,388,266
Other financial obligation		320,709		—		—		—		—		—		320,709
Financial instruments of regulatory capital issued (subordinated bonds)		3,582		19,460		29,399		94,136		90,554		1,164,522		1,401,653
Total liabilities		25,523,726		4,067,669		4,707,963		3,480,432		2,904,124		6,668,472		47,352,386

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of December 31, 2024
Transactions in the course of payment		297,983		—		—		—		—		—		297,983
Derivative Financial Instruments for hedging purposes		1,588		2,755		303,336		381,790		343,096		1,133,338		2,165,903
Financial liabilities at amortized cost:
Current accounts and other demand deposits		14,287,507		—		—		—		—		—		14,287,507
Saving accounts and time deposits		9,437,781		2,670,440		2,138,233		56,593		450		562		14,304,059
Obligations by repurchase agreements and securities lending		9,984		—		—		—		—		—		9,984
Borrowings from financial institutions		21,222		159,438		921,822		—		—		—		1,102,482
Debt financial instruments issued (*)		13,893		158,375		1,178,285		2,983,446		2,328,034		4,472,111		11,134,144
Other financial obligation		284,479		—		—		—		—		—		284,479
Financial instruments of regulatory capital issued (subordinated bonds)		3,140		—		48,654		92,974		89,437		1,153,294		1,387,499
Total liabilities		24,357,577		2,991,008		4,590,330		3,514,803		2,761,017		6,759,305		44,974,040

(*)

Amounts shown here are different from those reported in the liabilities report which is part of the liquidity analysis, due to differences in the treatment of mortgage bonds issued by the Bank in both reports.

190

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47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

Price Risk Sensitivity Analysis

The Bank uses stress tests as the main sensitivity analysis tool for Price Risk. The analysis is implemented for the Trading Book, Banking Book and the FVOCI portfolio separately. The Bank has adopted this tool as it is considered more useful than fluctuations in business as usual scenario, such as VaR or EaR, given that:

(i)

The financial crisis show market factors fluctuations that are materially larger than those used in the VaR with 99% of confidence level or EaR with 99% of confidence level.

(ii)

The financial crisis also show that correlations between these fluctuations are materially different from those used in the VaR computation, since a crisis precisely indicates severe disconnections between the behaviors of market factors fluctuations respect to the patterns observed under normal conditions.

(iii)

Trading liquidity dramatically diminishes during financial distress and especially in emerging markets. Therefore, the overnight VaR number might not be representative of the loss for trading portfolios in such environment since closing exposures period may exceed one business day. This may also happen when calculating EaR, even considering three months as the closing period.

The impacts are determined by mathematical simulations of fluctuations in the values of market factors, and also, estimating the changes of the economic and /or accounting value of the financial positions.

191

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47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

In order to comply with IFRS 9, the following exercise was included illustrating an estimation of the impact of extreme but reasonable fluctuations of interest rates, swaps yields, FX rates and exchange volatility, which are used for valuing Trading Book, Banking Book and the FVOCI portfolio. Given that the Bank’s portfolio includes positions denominated in nominal and real interest rates, these fluctuations must be aligned with extreme but realistic Chilean inflation changes forecasts.

For the Trading Book, the exercise is implemented by multiplying the sensitivities by the fluctuations obtained as the results of mathematical simulations over a two-week time horizon and using the maximum historical volatility, within a significant period of time, in each of the market factor present. In the case of the FVOCI portfolio a four-week time horizon is used due to liquidity constrains; Banking Book impacts are estimated by multiplying cumulative gaps by forward interest rates fluctuations modeled over a three-month time horizon and using the maximum historical volatility of interest fluctuations but limited by maximum fluctuations and / or levels observed within a significant period of time. It is relevant to note that the methodology might ignore some portion of the interest rates convexity, since it is not captured properly when large fluctuations are modeled. In any case, given the magnitude of the changes, the methodology may be reasonable enough for the purposes and scope of the analysis.

The following table illustrates the fluctuations resulting from the main market factors in the maximum stress test exercise, or more adverse, for the Trading Book.

The directions or signs of these fluctuations are those that correspond to those that generate the most adverse impact at the aggregate level.

	Average Fluctuations of Market Factors for Maximum Stress Scenario Trading Book
	CLP Derivatives (bps)		CLP Bonds (bps)		CLF Derivatives (bps)		CLF Bonds (bps)		USD Offshore SOFR Derivatives (bps)		Spread USD On/Off Derivatives (bps)
Less than 1 year		30		199		125		161		10		(92	)
Greater than 1 year		21		125		17		118		14		(27	)

bps = basis points.

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47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

The worst impact on the Bank’s Trading Book as of March 31, 2025, as a result of the simulation process described above, is as follows:

Most Adverse Stress Scenario P&L Impact Trading Book (MCh$)
CLP Interest Rate			(10,707	)
Derivatives	(791	)
Debt instruments	(9,916	)
CLF Interest Rate			(1,186	)
Derivatives	91
Debt instruments	(1,277	)
Interest rate USD offshore			(39	)
Domestic/offshore interest rate spread USD			(984	)

Total Interest rates			(12,916	)
Banking spread			(25	)
Total FX and FX Options			20
Total			(12,921	)

The modeled scenario would generate losses in the Trading Book for Ch$12,921 million. In any case, such fluctuations would not result in material losses compared to Basic Capital or to the P&L estimate for the next 12-months.

The impact on the Banking Book as of March 31, 2025, which does not necessarily mean a net loss(gain) but a lower (greater) net income from funds generation (resulting net interest rate generation), is illustrated below:

Most Adverse Stress Scenario 12-Month Revenue Banking Book (MCh$)
Impact by Base Interest Rate shocks	(334,755	)
Impact due to Spreads Shocks	(31,762	)
Higher / (Lower) Net revenues	(366,517	)

193

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47.

Risk Management and Report, continued:

(3)

Market Risk, continued:

(b)

Price Risk, continued:

The impact on the FVOCI portfolio it is show in the followings tables. First are the main fluctuation in the market factors, due to the scenarios provided for the stress test meltdown (more adverse), for this portfolio.

The sign of the fluctuation below, correspond to the ones that generate the most adverse impact.

Average Fluctuations of Market Factors for Maximum Stress Scenario FVOCI Portfolio
	CLP Bonds (bps)		CLF Bonds (bps)		USD Offshore SOFR Derivatives (bps)		Spread USD On/Off Derivatives (bps)
Less than 1 year		261		450		24		17
Greater than 1 year		137		210		19		4

bps = basis points

The worst impact on the Bank’s FVOCI portfolio as of March 31, 2025, as a result of the simulation process described above, is as follows:

Most Adverse Stress Scenario P&L Impact FVOCI portfolio (MCh$)
CLP Debt Instrument	(25,212	)
CLF Debt Instrument	(59,818	)
Interest rate USD offshore	(543	)
Banking spread	(1,297	)
Corporative spread	(2,018	)
Total	(88,888	)

The modeled for the FVTOCI Portfolio would generate potential impacts on equity accounts for Ch$88,888 million.

The main negative impact on the Trading Book would occur as a result of an increase in rates on debt instruments in CLP over 1 year, while in the case of the FVTOCI portfolio the main impact comes from upward fluctuations in interest rates of debt instruments in CLF and CLP greater than 1 year. For its part, the lowest potential income in the next 12 months in the Banking Book would occur in a scenario of a sharp inflation rates and a limited fall in nominal interest rates.

194

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(4)

Other Information related to Financial Risks:

Offsetting of financial assets and liabilities:

The Bank trades financial derivatives with foreign counterparties using ISDA Master Agreement (International Swaps and Derivatives Association, Inc.), under legal jurisdiction of the City of New York – USA or London – United Kingdom. Legal framework in these jurisdictions, along with documentation mentioned, it allows Banco de Chile the right to anticipate the maturity of the transaction and then, offset the net value of those transactions in case of default of counterparty. Additionally, the Bank has negotiated with these counterparties an additional annex (CSA Credit Support Annex), that includes other credit mitigating, such as entering margins on a certain amount of net value of transactions, early termination (optional or mandatory) of transactions at certain dates in the future, coupon adjustment of transaction in exchange for payment of the debtor counterpart over a certain threshold amount, etc.

Below are detail the contracts susceptible to offset:

	Fair Value				Negative Fair Value of contracts with right to offset						Positive Fair Value of contracts with right to offset						Financial Collateral						Net Fair Value
	March		December		March			December			March			December			March			December			March		December
	2025		2024		2025			2024			2025			2024			2025			2024			2025		2024
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$		MCh$

Derivative financial assets		2,091,657		2,377,312		(837,895	)		(817,430	)		(900,976	)		(1,103,430	)		(144,897	)		(169,344	)		207,889		287,108

Derivative financial liabilities		2,393,796		2,585,846		(837,895	)		(817,430	)		(900,976	)		(1,103,430	)		(345,033	)		(334,897	)		309,892		330,089

195

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(4)

Operational risk:

One of the Bank’s objectives is to monitor, control and maintain at adequate levels, the risk of losses resulting from a lack of adequacy or a failure of processes, personnel and/or internal systems, or due to external events. This definition includes legal risk and excludes strategic and reputational risk.

Operational risk is inherent to all activities, products, and systems, and is transversal to the entire organization, encompassing its strategic, business, and support processes. All Bank collaborators are responsible, within their respective areas of responsibility, for managing and controlling the operational risk inherent in their activities, as its materialization can generate direct or indirect financial losses.

To face this risk, the Bank has defined a Regulatory Framework and a governance structure according to the volume and complexity of its activities. The Corporate Risk Division administer the management of this risk, through the establishment of a Global Control Management. Likewise, the “Superior Committee for Operational Risk” and the “Committee for Operational Risk” supervise it.

The Operational Risk Policy defines a comprehensive management model based on four main processes that ensure an adequate control environment in the organization.

These processes are implemented in the different areas of Operational Risk action, using various management and control tools.

196

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

(5)

Operational risk, continued:

The aforementioned processes correspond to:

1. Identification and Evaluation: At Banco de Chile, this process considers internal and external factors, which allows us to better understand operational risk, and thus allocate resources and define strategies efficiently and effectively.

The Bank promotes the use of methodologies and procedures with the objective of guaranteeing an adequate identification and evaluation of these risks, both inherent and residual. These are executed with a frequency that allows knowing the operational risks in a timely manner.

2. Control and Mitigation: Determination of acceptable risk levels and mitigation actions to be applied in case of deviation from these levels. This process aims to maintain risk at adequate levels.

Banco de Chile will execute a set of control and mitigation tools in the different areas of management, which will make it possible to alert deviations in exposure to operational risk, where mitigation measures will be evaluated to solve them.

3. Monitoring and Reporting: This process aims to guarantee the monitoring of the main risks and inform the different interested parties.

At Banco de Chile, monitoring and reporting will consider information related to the different areas of management. If necessary, the results of the monitoring activities will be included in the relevant government instances.

4. Operational Risk Culture: The Global Control Management plans operational risk culture programs, aimed at raising awareness and training Bank employees in risk identification, control effectiveness, and event detection in their normal operating activities, so that each collaborator contributes to reduce the occurrence of risk events and mitigate their impact on the business.

Additionally, the comprehensive management of Operational Risk considers the following areas:

−

Fraud Management

−

Process Assessment

−

Testing of Controls

−

Event Management

−

Loss Base Management

−

Profile and Risk Appetite Framework

−

Generation of stress test models for Operational Risk

−

Supplier Management

−

Management Self-Assessment Matrix

−

Operational Risk Assessment for Projects

−

Subsidiary Control

197

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47.

Risk Management and Report, continued:

(5)

Operational risk, continued:

All areas previously mentioned, together with the corresponding Regulatory Framework and governance structure, constitute the overall management of Operational Risk. In this way, Banco de Chile and its Subsidiaries ensure an adequate environment for the management of operational risk.

Below is the exposure to net loss, gross loss and recoveries due to operational risk events as of March 31, 2025 and 2024:

	March 2025							March 2024
Category	Lost Gross		Recoveries			Lost Net		Lost Gross		Recoveries			Lost Net
	MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Internal fraud		84		—			84		5		—			5
External fraud		6,993		(3,170	)		3,823		7,819		(3,062	)		4,757
Work practices and safety in the business position		280		—			280		302		—			302
Customers, products and business practices		35		—			35		258		—			258
Damage to physical assets		271		—			271		372		(51	)		321
Business interruption and system failures		266		—			266		45		(6	)		39
Execution, delivery and process management		384		(2	)		382		1,136		(4	)		1,132
Total		8,313		(3,172	)		5,141		9,937		(3,123	)		6,814

Cybersecurity

The Cybersecurity Engineering and Architecture Management is in charge of defining, implementing and maximizing existing cyber threat protection technologies, and defining and maintaining the security architecture. The Cyber Defense Management is responsible for safeguarding information assets by proactively detecting, responding and containing threats. Likewise, this department is responsible for managing cybersecurity incidents in an assertive and timely manner, minimizing the impact and improving response times, with the aim of protecting the Bank’s operations.

On the other hand, the Technological Risk and Cyber Intelligence Management aims to ensure security and the integration of information security and cybersecurity risks, preventing attacks perpetuated by different threat agents. Manage and respond to cyber intelligence requirements that allow strengthening strategic decision-making within the organization through analytical models, in order to provide support to processes and mechanisms that seek to achieve greater security, protection and resilience against the current threat landscape.

Finally, the Cybersecurity Management and Subsidiary Control Management is in charge of defining, managing and carrying out the strategic plan of the cybersecurity division. Their responsibilities include ensuring optimal and efficient use of resources, as well as providing and supervising cybersecurity policies to suppliers, among other matters. Likewise, management must guarantee the implementation of guidelines and controls that establish cybersecurity regulations, in addition to managing the regulatory framework of the Division’s processes. Also, he is responsible for strengthening the cybersecurity culture within the organization and supporting the management of cross-functional functions and initiatives related to cybersecurity. Finally, it has the task of establishing and controlling cybersecurity management in the bank’s subsidiaries.

198

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47.

Risk Management and Report, continued:

The Bank in the management for the compliance with the objectives related to the delivery of the service of attention to its clients, has the Management of Business Continuity that through its policy and norm establishes the guidelines to manage, control and administrate the strategies for recovering from contingency situations, maintains the crisis governance model, sustain the continuity of services and critical operations related to the payment chain, through a comprehensive resilient model that includes plans and controlled tests to reduce the impact of disruptive events that may affect the Bank. Additionally, there is the role and responsibilities of the Information Security Officer (ISO), with an independent function in charge of designing and implementing controls, by monitoring the tasks carried out by the organizational units responsible for information security, cybersecurity and technological risk.

That is why Business Continuity has methodologies and controls that contribute to the application of the comprehensive model within the corporation, mainly represented in the following management areas:

−

Document Management: It consists of carrying out methodological processes of updating the documentation that supports Business Continuity in operational and technological areas, with the aim of keeping the strategy implemented in the Bank up to date and in accordance with the guidelines of Business Continuity Management (BCM).

−

Business Continuity Tests: It refers to annually scheduled contingency simulations that address the 5 risk scenarios defined for the Bank (Failure in Technology Infrastructure, Failure in Physical Infrastructure, Massive Absence of Personnel, Failure in Critical Supplier Service and Cybersecurity), allowing to maintain constant training and integration of critical personnel operating the payment chain, under the defined contingency procedures that support the Bank’s critical products and services.

−

Crisis Management: Internal process of the Bank that maintains and trains the key executive roles associated with the Crisis Groups in conjunction with the main recovery strategies and structures defined in the BCM model. In this way, it constantly strengthens the different areas necessary for preparation, execution and monitoring, that will allow facing crisis events in the Bank.

−

Critical Supplier Management: This involves the management, control and testing of Business Continuity Plans implemented by the suppliers involved in the processing of critical products and services for the Bank, associated with the risk scenarios established in direct relation to the contracted service.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47.

Risk Management and Report, continued:

Business Continuity, continued:

−

Alternative Site Management: It includes the continuous management and control of secondary physical locations for the Bank’s critical units, to keep the operation active in case of failure in the main work location. The objective is to protect and maintain the technological and operational functionalities of the alternative sites, to reduce recovery times in case of crisis and that activation is effective when its use is required.

−

Relations with subsidiaries and External Entities: It consists of the permanent control, management and leveling on the compliance of Subsidiaries under the methodology and strategic lines established by the Bank in crisis environments and Business Continuity Management. It also includes the global management with the requirements of internal and external regulators.

−

Continuous Improvement: considers the application of processes, automation and the adaptation of resources used in the internal processes of the business continuity model, with the objective of improving response in the delivery and analysis of information in contingencies, complementing the managed processes of the BCM.

−

Training: It includes the development and implementation of processes and instances prepared under different learning methodologies to strengthen and empower employees on the areas of the business continuity model.

−

Cybersecurity Control: Design and implement independent controls by monitoring the tasks carried out by the organizational units responsible for the Bank’s information security, cybersecurity and technological risk.

The management and unification of the described areas, together with the compliance of the implemented regulations and the structured governability, constitute the Business Continuity Model of the Bank of Chile.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48.

Information on Regulatory Capital and Capital Adequacy Ratios:

Requirements and Capital Management:

The main objectives of the Bank’s capital management are to ensure the adequacy and quality of its capital, at a consolidated level, based on the adequate management of the risks it faces in its operations, establishing sufficient capital levels, through the definition of internal objectives, that supports both the business strategy in both normal and stress scenarios in the short and medium term, thus ensuring compliance with regulatory requirements, coverage of its material risks, a solid credit classification and the generation of adequate capital clearances. During 2025, the Bank has met the required capital requirements and its internal sufficiency objectives.

As part of its Capital Management Policy, the Bank has established capital sufficiency alerts and limits approved by the Board of Directors, which are monitored by the governance structures that the Bank has established for these purposes, including the Capital Management Committee. During 2025, none of the internal alerts defined by the Bank were activated as part of the Capital Risk Appetite Framework. In this sense, the Bank manages capital based on its strategic objectives, its risk profile and its ability to generate cash flows, as well as the economic and business context in which it operates. If it requires strengthening its capital structure, the Bank may, among other options, propose to its shareholders meeting modifications to the dividend payment ratio, as well as issue basic capital, additional tier 1 capital or tier 2 capital instruments.

Capital Requirements

In accordance with the General Banking Law, the effective equity of a bank may not be less than 8% of its risk-weighted assets (RWA), net of required provisions. Additionally, it establishes that the Basic Capital may not be less than 4.5% of its APR or 3% of its total assets, net of required provisions. Regarding Tier 1 capital, corresponding to the sum of Basic Capital and Additional Tier 1 Capital, the latter in the form of bonds with no maturity date and preferred shares, it is established that it may not be less than 6% of their RWAs, net of required provisions. Likewise, banking entities must comply, as established by current regulations or regulators, with buffers and capital charges, such as the conservation buffer, the countercyclical buffer and capital charges by the systemically important buffer and/or Pillar 2.

On May, 2023, the Central Bank reported that its board agreed to activate the counter-cyclical core capital requirement for banks, at a local banking industry level, equivalent to 0.5% of the risk-weighted assets of banking institutions, required starting from the month of May 2024. In the monetary policy meeting of November 2024, the central bank agreed to maintain the same level of 0.5% requirement.

On January 16, 2024, the Financial Market Commission (CMF) reported that, as a result of the supervision process, it resolved to apply additional capital requirements of Pillar 2 of 0.5% for Banco de Chile within an implementation period of four years. This requirement must be constituted in a ratio of 25% no later than June 30, 2024. Likewise, this requirement must be recognized at least 56.3% with basic capital in proportion to the minimum legal requirements. On January 17, 2025 the CMF communicated that, as a result of the supervisory process, it decided to maintain the additional capital requirement for Pillar 2 in effect for Banco de Chile as of that date, equivalent to 0.13% of the APR, which must be fully constituted as of June 30, 2025.

On April 1, 2025, the CMF reported the result of the annual review of the systemic importance rating for local banks, maintaining an additional basic capital charge of 1.25% of the APR for Banco de Chile, payable in accordance to the gradualness defined by the regulations, so the capital charge required as of December 2025 is equivalent to 100% of said percentage.

It should be noted that the Basel III banking solvency standards still consider a series of transitory regulations. These measures include: i) the gradual adoption of requirements for systemic banks, ii) the gradual application of adjustments to regulatory capital, iii) gradualness to continue recognizing subordinated bonds issued by banking subsidiaries as effective equity, among other matters. It is important to mention that on December 1, 2024 the gradual adaption of the conservation buffer, reaching 2.5% of risk-weighted assets, which is fully constituted by Banco de Chile.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48.

Information on Regulatory Capital and Capital Adequacy Ratios, continued:

Information on regulatory capital and capital adequacy indicators is presented below:

	Total assets, risk-weighted assets and components of the effective equity according to Basel III		Local and Overall consolidated March -2025		Local and Overall consolidated Dec-2024
Item No.	Item description	Note	MCh$		MCh$
1	Total assets according to the statement of financial position			53,769,904		52,095,441
2	Non-consolidated investment in subsidiaries	a		—		—
3	Assets discounted from regulatory capital, other than item 2	b		2,279,464		2,544,175
4	Derivative credit equivalents	c		1,018,528		1,056,941
5	Contingent loans	d		2,980,522		3,104,187
6	Assets generated by the intermediation of financial instruments	e		—		—
7	= (1-2-3+4+5-6) Total assets for regulatory purposes			55,489,490		53,712,394
8.a	Credit risk weighted assets, estimated according to the standard methodology (CRWA)	f		32,878,977		32,704,910
8.b	Credit risk weighted assets, estimated according to internal methodologies (CRWA)	f		—		—
9	Market risk weighted assets (MRWA)	h		1,407,442		1,309,590
10	Operational risk weighted assets (ORWA)	g		4,377,313		4,339,979
11.a	= (8.a/8.b+9+10) Risk-weighted assets (RWA)			38,663,732		38,354,479
11.b	= (8.a/8.b+9+10) Risk-weighted assets, after application of the output floor (RWA)			38,663,732		38,354,479
12	Owner’s equity			5,395,358		5,622,999
13	Non-controlling interest	i		2		2
14	Goodwill	j		—		—
15	Excess minority investments	k		—		—
16	= (12+13-14-15) Core Tier 1 Capital (CET1)			5,395,360		5,623,001
17	Additional deductions to core tier 1 capital, other than item 2	l		119,712		111,087
18	= (16-17-2) Core Tier 1 Capital (CET1)			5,275,648		5,511,914
19	Voluntary provisions (additional) imputed as additional Tier 1 capital (AT1)	m		—		—
20	Subordinated bonds imputed as additional tier 1 capital (AT1)	m		—		—
21	Preferred shares allocated to additional tier 1 capital (AT1)			—		—
22	Bonds without a fixed term of maturity imputed to additional tier 1 capital (AT1)			—		—
23	Discounts applied to AT1	l		—		—
24	= (19+20+21+22-23) Additional Tier 1 Capital (AT1)			—		—
25	= (18+24) Tier 1 Capital			5,275,648		5,511,914
26	Voluntary provisions (additional) imputed as Tier 2 capital (T2)	n		410,987		408,811
27	Subordinated bonds imputed as Tier 2 capital (T2)	n		1,041,897		1,034,567
28	= (26+27) Equivalent tier 2 capital (T2)			1,452,884		1,443,378
29	Discounts applied to T2	l		—		—
30	= (28-29) Tier 2 capital (T2)			1,452,884		1,443,378
31	= (25+30) Effective equity			6,728,532		6,955,292
32	Additional basic capital required for the constitution of the conservation buffer	o		966,593		958,862
33	Additional basic capital required to set up the countercyclical buffer	p		193,319		191,772
34	Additional basic capital required for banks qualified as systemic	q		362,472		359,573
35	Additional capital required for the evaluation of the adequacy of effective equity (Pillar 2)	r		36,247		47,943

a)	Corresponds the value of the investment in subsidiaries that are not consolidated. Applies only in the local consolidation when the bank has foreign subsidiaries, subtracting totally its value in assets and CET1.

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48.

Information on Regulatory Capital and Capital Adequacy Ratios, continued:

b)	Corresponds the value of the asset items that are subtracted from the regulatory capital, in accordance with the paragraph(a) of title N°3 of chapter 21-30 of the RAN.

c)	Corresponds the credit equivalents of the derivative instruments, in accordance with the paragraph (b) of title N°3 of chapter 21-30 of the RAN.

d)	Corresponds the contingent exposure according to the paragraph c) of the title N°3 of chapter 21-30 of the RAN.

e)	Corresponds the intermediation of financial instrument assets in the name of the bank on behalf of third parties that are consolidated as established in the paragraph d) of the title N°3 of chapter 21-30 of the RAN.

f)	Corresponds the estimated credit risk weighted assets according to the chapter 21-6 of RAN. If the bank does not have the authorization to apply internal methodologies, needs to inform the field 8.b as zero.

g)	Corresponds the estimated market risk weighted assets according to the chapter 21-7 of the RAN.

h)	Corresponds the estimated operational risk weighted assets according to the chapter 21-8 of the RAN.

i)	Corresponds to the non-controlling interest, depending on the level of consolidation, up to 20% of the owners’ assets.

j)	Assets that correspond to goodwill.

k)	Corresponds to the balances of investment assets in non-business support companies that do not participate in the consolidation, above 5% of the owners’ equity.

In the case of CET1 and T2, banks must estimate the equivalent value for each tier of capital, as well as that obtained by fully applying Chapter 21-1 of the RAN. Then, the difference between the equivalent value and the fully applied value must be weighted by the discount factor in force on the reporting date according to the transitional provisions of Chapter 21-1 of the RAN, and reported in this row. In the case of the AT1, the discounts apply directly if they exist

m)	Provisions and subordinated bonds allocated to additional capital tier 1 (AT1), as established in Chapter 21-2 of the RAN.

n)	Provisions and subordinated bonds attributed to the equivalent definition of tier 2 capital (T2), as established in Chapter 21-1 of the RAN.

o)	Corresponds to the additional basic capital (CET1) for the constitution of the conservation buffer, as established in Chapter 21-12 of the RAN.

p)	Corresponds to the additional basic capital (CET1) for the constitution of the counter-cyclical buffer, as established in Chapter 21-12 of the RAN.

q)	Corresponds to the additional basic capital (CET1) for banks qualified as systemic, as established in Chapter 21-11 of the RAN.

r)	Corresponds to the additional capital for the evaluation of the sufficiency of the effective equity (Pillar 2) of the bank, as established in Chapter 21-13 of the RAN.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48.

Information on Regulatory Capital and Capital Adequacy Ratios, continued:

	Capital Adequacy Ratios and Regulatory Compliance		Local and Overall consolidated March -2025			Local and Overall consolidated Dec-2024
Item No.	according to Basel III	Note	%			%
1	Leverage Ratio (T1 I18/T1 I7)			9.51	%		10.26	%
1.a	Leverage Ratio that the bank must meet, considering the minimum requirements	a		3	%		3	%
2	CET 1 Capital Ratio (T1 I18/T1 I11.b)			13.64	%		14.37	%
2.a	CET 1 Capital Ratio that the bank must meet, considering the minimum requirements	a		5.51	%		5.51	%
2.b	Capital buffer shortfall	b		—			—
3	Tier 1 Capital Ratio (T1 I25/T1 I11.b)			13.64	%		14.37	%
3.a	Tier 1 Capital Ratio that the bank must meet, considering the minimum requirements	a		7.03	%		7.03	%
4	Regulatory Capital Ratio (T1 I31/T1 I11.b)			17.40	%		18.13	%
4.a	Regulatory Capital Ratio that the bank must meet, considering the minimum requirements	a		9.06	%		9.06	%
4.b	Regulatory Capital Ratio that the bank must meet, considering the charge for article 35 bis	c		—			N/A
4.c	Regulatory Capital Ratio that the bank must meet, considering the minimum requirements, conservation buffer and countercyclical buffer	b		12.06	%		12.06	%
5	Credit rating	d		A			A
	Regulatory compliance for Capital Adequacy
6	Additional provisions computed in Tier 2 capital (T2) in relation to CRWA (T1 I26/T1 I8.a)	e		1.25	%		1.25	%
7	Subordinated bonds computed as Tier 2 capital (T2) in relation to CET 1 Capital	f		19.31	%		18.40	%
8	Additional Tier 1 Capital (AT1) in relation to CET 1 Capital (T1 I24/T1 I18)	g		—			—
9	Voluntary (additional) provisions and subordinated bonds computed as AT1 in relation to RWAs ((T1 I19+T1 I20)/T1 I11.b)	h		N/A			N/A

(*)	T1 Ix: corresponds to item x of the previous table.

a)	In the case of the leverage indicator, the requirement is 3% without prejudice to the additional requirements for systemic banks that could be set according to the provisions of Chapter 21-30 of the RAN.

In the case of core capital, the bank considers a charge of 4.5% of risk-weighted assets (RWA) plus the systemic charge and Pillar 2 requirements.

In Tier 1 capital, a value of 6% plus the systemic bank charge and Pillar 2 charge is considered the minimum requirement.

For effective equity, 8% of the RWA is considered, adding to this value the additional charges for systemic bank and Pillar 2.

The systemic bank and Pillar 2 requirements for Banco de Chile are equivalent to 1.25% and 0.5%, respectively. The transitional provisions require 75% of the capital charge per systemic bank and 25% of the charge for Pillar 2, which is covered by 56.3% with basic capital.

b)	The capital buffer deficit must be estimated according to the provisions of Chapter 21-12 of the RAN. This value defines the restriction on the distribution of dividends, as provided in the Chapter mentioned above.

In the case of effective equity, the requirement of 100% of the conservation buffer of 2.5% and a counter-cyclical capital charge are added to the value reported in note 4.a). of 0.5%.

c)	It corresponds to the effective equity requirement in force by article 35 bis of the General Banking Law.

d)	It corresponds to the solvency classification as established in article 61 of the general banking law.

e)	Limit is equivalent to 1.25% when using standard methodology for determining CRWAs.

f)	Limit is equivalent to 50% of the basic capital, considering the discounts applied to these instruments according to Chapter 21-1 of the RAN.

g)	Additional Tier 1 capital cannot exceed 1/3 of core capital.

h)	Additional provisions and subordinated bonds could be temporarily allocated until November 2023 to AT 1 for up to 1% of the RWA as of December 1, 2021. This value decreased annually by 0.5% in accordance with the transitional provisions of Chapter 21-2 of the RAN.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

49.

Subsequent Events:

(a)

During the month of April 2025 Banco de Chile has reported as essential fact the following placements in the local market of senior, dematerialized and bearer bonds issued by Banco de Chile and registered in the Securities Registry of the Financial Market Commission:

Date

Registration number
in the Securities
Registry

Serie

Amount

Currency

Maturity date

Average rate

April 1, 2025

11/2022

800,000

01/01/2030

2.96

April 3, 2025

11/2022

900,000

01/01/2032

2.92

April, 15, 2025

11/2022

850,000

12/01/2030

2.84

April, 17, 2025

11/2022

1,000,000

05/01/2035

3.03

April, 17, 2025

20240002

2,000,000

10/01/2034

3.03

(b)

On April 10, 2025, at a meeting of the Board of Directors of Banco de Chile, it was agreed, subject to prior authorization from the Financial Market Commission, to absorb the subsidiary company Socofin S.A., by purchasing the shares issued by it whose owner is Banchile Asesoría Financiera S.A. and, in this way, dissolve Socofin S.A. in accordance with the provisions of section 2 of article 103 of Law 18,046. Likewise, once the dissolution of the aforementioned company occurs, the Bank will have the character of a legal successor of the entity.

The Interim Consolidated Financial Statements of Banco de Chile for the period ended March 31, 2025 were approved by the Directors on April 24, 2025.

In Management’s opinion, there are no others significant subsequent events that affect or could affect the Interim Consolidated Financial Statements of Banco de Chile and its subsidiaries between March 31, 2025 and the date of issuance of these Interim Consolidated Financial Statements.



Héctor Hernández G. General Accounting Manager		Eduardo Ebensperger O. Chief Executive Officer

205

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 29, 2025

		Banco de Chile

		/S/ Eduardo Ebensperger O.
	By:	Eduardo Ebensperger O.
		CEO

206