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LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS and INTERBANK LOANS (under IAS 39) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Loans And Accounts Receivable From Customers And Interbank Loans |
Schedule of loan portfolio composition |
Loans and account receivable from customers
As of December 31, 2017 | Assets before allowances |  | Allowances established |
Normal portfolio | Impaired portfolio | Total |  | Individual allowances | Group allowances | Total |  | Assets net balance
MCh$ | MCh$ | MCh$ |  | MCh$ | MCh$ | MCh$ |  | MCh$
Commercial loans |  |  |  |  |  |  |  |  |
Commercial loans | 9,244,460 | 746,196 | 9,990,656 |  | 133,254 | 168,736 | 301,990 |  | 9,688,666
Foreign trade loans | 1,506,359 | 68,154 | 1,574,513 |  | 49,026 | 1,444 | 50,470 |  | 1,524,043
Checking accounts debtors | 179,982 | 15,714 | 195,696 |  | 2,726 | 11,740 | 14,466 |  | 181,230
Factoring transactions | 444,644 | 5,246 | 449,890 |  | 4,788 | 1,207 | 5,995 |  | 443,895
Student loans | 77,226 | 11,064 | 88,290 |  | - | 5,922 | 5,922 |  | 82,368
Leasing transactions | 1,335,653 | 121,351 | 1,457,004 |  | 17,529 | 12,793 | 30,322 |  | 1,426,682
Other loans and account receivable | 106,815 | 45,778 | 152,593 |  | 11,467 | 17,231 | 28,698 |  | 123,895
Subtotal | 12,895,139 | 1,013,503 | 13,908,642 |  | 218,790 | 219,073 | 437,863 |  | 13,470,779
Mortgage loans |  |  |  |  |  |  |  |  |
Loans with mortgage finance bonds | 22,620 | 1,440 | 24,060 |  | - | 123 | 123 |  | 23,937
Endorsable mortgage mutual loans | 110,659 | 4,419 | 115,078 |  | - | 594 | 594 |  | 114,484
Other mortgage mutual loans | 8,501,072 | 456,685 | 8,957,757 |  | - | 68,349 | 68,349 |  | 8,889,408
Subtotal | 8,634,351 | 462,544 | 9,096,895 |  | - | 69,066 | 69,066 |  | 9,027,829
Consumer loans |  |  |  |  |  |  |  |  |
Installment consumer loans | 2,613,041 | 297,701 | 2,910,742 |  | - | 240,962 | 240,962 |  | 2,669,780
Credit card balances | 1,341,098 | 23,882 | 1,364,980 |  | - | 33,401 | 33,401 |  | 1,331,579
Leasing transactions | 4,638 | 77 | 4,715 |  | - | 62 | 62 |  | 4,653
Other consumer loans | 271,789 | 5,466 | 277,255 |  | - | 9,331 | 9,331 |  | 267,924
Subtotal | 4,230,566 | 327,126 | 4,557,692 |  | - | 283,756 | 283,756 |  | 4,273,936
Total | 25,760,056 | 1,803,173 | 27,563,229 |  | 218,790 | 571,895 | 790,685 |  | 26,772,544
Schedule of interbank loans | As of December 31, 2017 balances of Interbank loans is as follows:
| MCh$
Domestic banks |
Interbank loans | -
Other domestic bank loans | -
Foreign interbank loans |
Interbank loans- foreign | 162,685
Provisions and impairment for foreign bank loans | (472)
Total | 162,213
Schedule of provisions and impairment | The provisions and impairment as od December 31, 2017 is shown below:
| Domestic banks | Foreign banks | Total
| MCh$ | MCh$ | MCh$
Balance as of January 1, 2017 | - | 4,135 | 4,135
Provisions established | 251 | 56 | 307
Provisions released | (251) | (3,719) | (3,970)
Total | - | 472 | 472
Schedule of portfolio of loans | As of December 31, 2017, the portfolio before allowance by customer’s economic activity is as follows:
| Domestic loans |  | Foreign interbank loans |  | Total loans |  | Distribution percentage
| MCh$ |  | MCh$ |  | MCh$ |  | %
Commercial loans |  |  |  |  |  |  |
Manufacturing | 1,218,232 |  |  |  | 1,218,232 |  | 4.39
Mining | 302,037 |  | - |  | 302,037 |  | 1.09
Electricity, gas, and water | 336,048 |  | - |  | 336,048 |  | 1.21
Agriculture and livestock | 1,114,597 |  | - |  | 1,114,597 |  | 4.02
Forest | 98,941 |  | - |  | 98,941 |  | 0.36
Fishing | 215,994 |  | - |  | 215,994 |  | 0.78
Transport | 697,948 |  | - |  | 697,948 |  | 2.52
Communications | 168,744 |  | - |  | 168,744 |  | 0.61
Construction | 1,977,417 |  | - |  | 1,977,417 |  | 7.13
Commerce | 3,131,870 |  | 162,685 |  | 3,294,555 |  | 11.88
Services | 467,747 |  | - |  | 467,747 |  | 1.69
Other | 4,179,067 |  | - |  | 4,179,067 |  | 15.07
|  |  | - |  |  |  |
Subtotal | 13,908,642 |  | 162,685 |  | 14,071,327 |  | 50.75
Mortgage loans | 9,096,895 |  |  |  | 9,096,895 |  | 32.81
|  |  | - |  |  |  |
Consumer loans | 4,557,692 |  |  |  | 4,557,692 |  | 16.43
|  |  | - |  |  |  |
Total | 27,563,229 |  | 162,685 |  | 27,725,914 |  | 100.00
Schedule of impaired portfolio |
i) | As of December 31, 2017 the impaired portfolio is as follows:
| As of December 31,
| 2017
| Commercial |  | Mortgage |  | Consumer |  | Total
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Individual impaired portfolio | 427,890 |  | - |  | - |  | 427,890
Non-performing loans (1) (collectively evaluated) | 368,522 |  | 161,768 |  | 103,171 |  | 633,461
Other impaired portfolio | 217,091 |  | 300,776 |  | 223,955 |  | 741,822
Total | 1,013,503 |  | 462,544 |  | 327,126 |  | 1,803,173
(1) Non-performing loans include the aggregate unpaid principal and accrued but unpaid interest on all loans with at least one installment at least 90 days past-due.
| ii) | The impaired portfolio with or without guarantee as of December 31, 2017 is as follows:
| As of December 31,
| 2017
| Commercial |  | Mortgage |  | Consumer |  | Total
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Secured debt | 582,557 |  | 413,716 |  | 34,260 |  | 1,030,533
Unsecured debt | 430,946 |  | 48,828 |  | 292,866 |  | 772,640
Total | 1,013,503 |  | 462,544 |  | 327,126 |  | 1,803,173
iii) | The portfolio of non-performing loans with or without guarantee, as of December 31, 2017 is as follows:
| As of December 31,
| 2017
| Commercial |  | Mortgage |  | Consumer |  | Total
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Secured debt | 167,909 |  | 141,413 |  | 8,896 |  | 318,218
Unsecured debt | 200,613 |  | 20,355 |  | 94,275 |  | 315,243
Total | 368,522 |  | 161,768 |  | 103,171 |  | 633,461
| iv) | The portfolio of non-performing portfolio as of December 31, 2017 is as follows:
| As of December31, |
|  | 2017
|  | Commercial | Mortgage | Consumer | Total
|  | MM$ | MM$ | MM$ | MM$
Non-performing >90 days |  | 362,968 | 159,265 | 92,541 | 614,774
Non-performing <90 days |  | 5,554 | 2,503 | 10,630 | 18,687
Total |  | 368,522 | 161,768 | 103,171 | 633,461
Schedule of allowances for loans losses | The changes in allowance balances during 2018 and 2017 are as follows:
Activity during 2017 | Commercial loans | Mortgage loans | Consumer loans | Total
| Individual | Group | Group | Group
| MCh$ | MCh$ | MCh$ | MCh$ | MCh$
Balance as of January 1, 2017 | 246,336 | 183,106 | 57,009 | 300,019 | 786,470
Allowances established (1) | 64,658 | 148,681 | 43,621 | 252,038 | 508,998
Allowances released (2) | (55,925) | (20,491) | (11,427) | (46,089) | (133,932)
Allowances released due to charge-off (3) | (36,279) | (92,223) | (20,137) | (222,212) | (370,851)
Balances as of December 31, 2017 | 218,790 | 219,073 | 69,066 | 283,756 | 790,685
| (1) | Represents gross allowances made in respect of increased risk of loss during the period and loan growth.
| (2) | Represents the gross amount of loan loss allowances released during the year as a consequence of reduction in the level of risk existing in the loan portfolio, including as a result of improvement in the credit risk classification of borrowers and loans paid.
| (3) | Represents the gross amount of loan loss allowances removed due to charge-off.
Schedule of recoveries by type of loan |
Recoveries by type of loan
| For the years ended December 31,
|  | 2017 |  | 2016
|  | MCh$ |  | MCh$
Commercial loans |  | 32,401 |  | 27,185
Consumer loans |  | 39,972 |  | 41,072
Residential mortgage loans |  | 10,942 |  | 10,041
Total |  | 83,315 |  | 78,298
Schedule of allowances established on customer and interbank loans | The following chart shows the balance of allowances established, associated with credits granted to customers and banks:
| As of December 31,
|  | 2017 |  | 2016
|  | MCh$ |  | MCh$
Customers loans |  | 508,998 |  | 526,293
Interbank loans |  | 307 |  | 3,052
Total |  | 509,305 |  | 529,345
Schedule of allowance for loan losses associated with impaired and non impaired |
Portfolio by its impaired and non-impaired status.
| As of December 31, 2017
| Non-impaired | Impaired | Portfolio total
| Commercial | Mortgage | Consumer | Total non impaired | Commercial | Mortgage | Consumer | Total impaired | Commercial | Mortgage | Consumer | Total portfolio
| MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$
Current portfolio | 12,737,508 | 8,357,733 | 4,012,489 | 25,107,730 | 449,895 | 158,770 | 110,184 | 718,849 | 13,187,403 | 8,516,503 | 4,122,673 | 25,826,579
Overdue for 1-29 days | 103,908 | 180,294 | 132,136 | 416,338 | 110,834 | 74,072 | 46,283 | 231,189 | 214,742 | 254,366 | 178,419 | 647,527
Overdue for 30-89 days | 53,723 | 96,324 | 85,941 | 235,988 | 89,806 | 70,437 | 78,118 | 238,361 | 143,529 | 166,761 | 164,059 | 474,349
Overdue for 90 days or more | - | - | - | - | 362,968 | 159,265 | 92,541 | 614,774 | 362,968 | 159,265 | 92,541 | 614,774
Total portfolio before allowances | 12,895,139 | 8,634,351 | 4,230,566 | 25,760,056 | 1,013,503 | 462,544 | 327,126 | 1,803,173 | 13,908,642 | 9,096,895 | 4,557,692 | 27,563,229
Overdue loans (less than 90 days) presented as portfolio percentage | 1.22% | 3.20% | 5.15% | 2.53% | 19.80% | 31.24% | 38.03% | 26.04% | 2.58% | 4.63% | 7.51% | 4.07%
Overdue loans (90 days or more) presented as portfolio percentage, | - | - | - | - | 35.81% | 34.43% | 28.29% | 34.09% | 2.61% | 1.75% | 2.03% | 2.23%
Schedule for transactions of sale or transfer of loan portfolio |
Reconciliation of overdue loans with non-performing loans
| As of December 31, 2017
| Commercial |  | Mortgage |  | Consumer |  | Total
| MCh$ |  | MCh$ |  | MCh$ |  |
Overdue loans | 362,968 |  | 159,265 |  | 92,541 |  | 614,774
Loans with not overdue but classified as non-performing loans | 5,554 |  | 2,503 |  | 10,630 |  | 18,687
Total | 368,522 |  | 161,768 |  | 103,171 |  | 633,461

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