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Fixed Assets and Right of Use Assets and Lease Liability | 12 Months Ended
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Dec. 31, 2019
Fixed Assets And Right Of Use Assets And Lease Liability |
FIXED ASSETS AND RIGHT OF USE ASSETS AND LEASE LIABILITY | NOTE 14 FIXED ASSETS AND RIGHT OF USE ASSETS AND LEASE LIABILITY
| a. | As of December 31, 2019 and 2018, the composition of property, plant, and equipment balances are composed as follows:
|  |  |  | As of December 31, 2019
|  | Net opening balance as of January 1, 2019 |  | Gross balance |  | Accumulated depreciation |  | Net balance
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Land and buildings |  |  | 174,758 |  |  |  | 295 |  |  |  | (121,338 | ) |  |  | 174 |
Equipment |  |  | 56,865 |  |  |  | 219,600 |  |  |  | (164,106 | ) |  |  | 55,494 |
Other |  |  | 21,963 |  |  |  | 69,758 |  |  |  | (47,552 | ) |  |  | 22,206 |
Total |  |  | 253,586 |  |  |  | 585,342 |  |  |  | (332,996 | ) |  |  | 252,346 |
|  |  |  |  |  | As of December 31, 2018
|  | Net opening balance as of January 1, 2018 |  | Gross balance |  | Accumulated depreciation |  | Net balance
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Land and buildings |  |  | 159,352 |  |  |  | 289,568 |  |  |  | (114,810 | ) |  |  | 174,758 |
Equipment |  |  | 63,516 |  |  |  | 192,328 |  |  |  | (135,463 | ) |  |  | 56,865 |
Other |  |  | 15,458 |  |  |  | 62,156 |  |  |  | (40,193 | ) |  |  | 21,963 |
Total |  |  | 238,326 |  |  |  | 544,052 |  |  |  | (290,466 | ) |  |  | 253,586 |
| b. | The changes in the value of property, plant, and equipment as of December 31, 2019 and 2018 is as follows:
| b.1 | Gross balance
2019 |  | Land and buildings |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2019 |  |  | 289,568 |  |  |  | 192,328 |  |  |  | 62,156 |  |  |  | 544,052 |
Additions |  |  | 10,065 |  |  |  | 33,302 |  |  |  | 7,602 |  |  |  | 50,969 |
Disposals |  |  | (2,636 | ) |  |  | (6,030 | ) |  |  | - |  |  |  | (8,666 | )
Impairment due to damage (*) |  |  | (1,013 | ) |  |  | - |  |  |  | - |  |  |  | (1,013 | )
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balances as of December 31, 2019 |  |  | 295,984 |  |  |  | 219,600 |  |  |  | 69,758 |  |  |  | 585,342 |
(*) Banco Santander-Chile have recognized in its consolidated financial statements as of December 31, 2019 an impairment of $ 1,013 million, due to social unrest in the country. See Note 33.
2018 |  | Land and buildings |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2018 |  |  | 259,316 |  |  |  | 169,286 |  |  |  | 55,613 |  |  |  | 484,215 |
Additions |  |  | 30,396 |  |  |  | 27,697 |  |  |  | 8,646 |  |  |  | 66,739 |
Disposals |  |  | (144 | ) |  |  | (4,616 | ) |  |  | (2,103 | ) |  |  | (6,863 | )
Impairment due to damage |  |  | - |  |  |  | (39 | ) |  |  | - |  |  |  | (39 | )
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balances as of December 31, 2018 |  |  | 289,568 |  |  |  | 192,328 |  |  |  | 62,156 |  |  |  | 544,052 |
(*) Banco Santander-Chile has had to recognize in its financial statements as of December 31, 2018 impairment by $ 39 million, corresponding to looting in ATM's.
| b.2 | Accumulated depreciation
2019 |  | Land and buildings |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2019 |  |  | (114,810 | ) |  |  | (135,463 | ) |  |  | (40,193 | ) |  |  | (290,466 | )
Depreciation charges in the period |  |  | (16,018 | ) |  |  | (29,968 | ) |  |  | (6,869 | ) |  |  | (52,855 | )
Sales and disposals in the period |  |  | 9,490 |  |  |  | 1,325 |  |  |  | - |  |  |  | 10,815 |
Other |  |  | - |  |  |  | - |  |  |  | (490 | ) |  |  | (490 | )
Balances as of December 31, 2019 |  |  | (121,338 | ) |  |  | (164,106 | ) |  |  | (47,552 | ) |  |  | (332,996 | )
2018 |  | Land and buildings |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2018 |  |  | (97,267 | ) |  |  | (109,843 | ) |  |  | (34,558 | ) |  |  | (241,668 | )
Depreciation charges in the period |  |  | (17,585 | ) |  |  | (25,660 | ) |  |  | (5,635 | ) |  |  | (48,880 | )
Sales and disposals in the period |  |  | 42 |  |  |  | 40 |  |  |  | - |  |  |  | 82 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balances as of December 31, 2018 |  |  | (114,810 | ) |  |  | (135,463 | ) |  |  | (40,193 | ) |  |  | (290,466 | )
| c. | The composition of the right of use assets as of December 31, 2019 and January 1, 2019 is as follows:
|  |  |  | As of December 31, 2019
|  | First application balance as of January 1, 2019 |  | Gross balance |  | Accumulated depreciation |  | Net balance
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Land and building |  |  | 154,284 |  |  |  | 181,325 |  |  |  | (25,338 | ) |  |  | 155,987 |
Equipment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 154,284 |  |  |  | 181,325 |  |  |  | (25,338 | ) |  |  | 155,987 |
| d. | The movement of the right of use assets under lease during the 2019 period, is as follows:
| d.1) | Gross balance
2019 |  | Land and building |  | Lease improvements |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2019 (*) |  |  | 154,284 |  |  |  | 122,658 |  |  |  | - |  |  |  | - |  |  |  | 154,284 |
Additions |  |  | 46,423 |  |  |  | 7,013 |  |  |  | - |  |  |  | - |  |  |  | 46,423 |
Disposals |  |  | (17,669 | ) |  |  | (2,636 | ) |  |  | - |  |  |  | - |  |  |  | (17,669 | )
Impairment |  |  | (1,713 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,713 | )
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balances as of December 31, 2019 |  |  | 181,325 |  |  |  | 127,035 |  |  |  | - |  |  |  | - |  |  |  | 181,325 |
(*) See Note N° 02.
| d.2) | Accumulated amortization
2019 |  | Land and building |  | Lease improvements |  | Equipment |  | Other |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balances as of January 1, 2019 (*) |  |  | - |  |  |  | (68,145 | ) |  |  |  |  |  |  |  |  |  |  |  |
Amortization for the period |  |  | (26,889 | ) |  |  | (7,898 | ) |  |  | - |  |  |  | - |  |  |  | (26,889 | )
Sales and disposals during the period |  |  | 1,551 |  |  |  | 1,936 |  |  |  | - |  |  |  | - |  |  |  | 1,551 |
Transfers |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Others |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balances as of December 31, 2019 |  |  | (25,338 | ) |  |  | (74,107 | ) |  |  | - |  |  |  | - |  |  |  | (25,338 | )
(*) See Note N° 02.
| e. | Lease liability:
As of December 31, 2019 and 2018, the composition of lease liability balances are composed as follows:
|  | As of December 31,
|  | 2019 |  | 2018
|  | MCh$ |  | MCh$
Lease liability |  |  | 158,494 |  |  |  | - |
Total |  |  | 158,494 |  |  |  | - |
An explanation of the difference between operating lease commitment under IAS 17 at December 31, 2018 and initial application of IFRS 16 as of January 1, 2019 is as follows:
|  | MCh$ |
Operating lease commitments as at December 31, 2018 |  |  | 173,602 |
Discounted using the lessee´s incremental borrowing rate of at the date of initial application |  |  | 14,726 |
Lease liabilities recognised due to IFRS 16 implementation |  |  | 139,558 |
Lease liability recognised as at January 1, 2019 |  |  | 154,284 |
| f. | Expenses associated with assets for the right of use leased assets and lease liability
|  | As of December 31,
|  | 2019 |  | 2018
|  | MCh$ |  | MCh$
Depreciation |  |  | (26,889 | ) |  |  | - |
Interests |  |  | (2,965 | ) |  |  | - |
Short term lease |  |  | (4,177 | ) |  |  | - |
Total |  |  | (34,031 | ) |  |  | - |
| g. | As of December 31, 2019 and 2018, the maturity level of the lease liability, according to their contractual maturity is as follows:
|  | As of December 31,
|  | 2019 |  | 2018
|  | MCh$ |  | MCh$
Due within 1 year |  |  | 26,061 |  |  |  | - |
Due after 1 year but within 2 years |  |  | 24,311 |  |  |  | - |
Due after 2 years but within 3 years |  |  | 21,667 |  |  |  | - |
Due after 3 years but within 4 years |  |  | 19,411 |  |  |  | - |
Due after 4 years but within 5 years |  |  | 16,982 |  |  |  | - |
Due after 5 years |  |  | 50,062 |  |  |  | - |
Total |  |  | 158,494 |  |  |  | - |
| h. | Operational leases – lessor
As of December 31, 2019 and 2018, the future minimum lease cash inflows under non-cancellable operating leases are as follows:
|  | As of December 31,
|  | 2019 |  | 2018
|  | MCh$ |  | MCh$
Due within 1 year |  |  | 603 |  |  |  | 469 |
Due after 1 year but within 2 years |  |  | 598 |  |  |  | 882 |
Due after 2 years but within 3 years |  |  | 500 |  |  |  | 469 |
Due after 3 years but within 4 years |  |  | 498 |  |  |  | 460 |
Due after 4 years but within 5 years |  |  | 412 |  |  |  | 428 |
Due after 5 years |  |  | 1,563 |  |  |  | 2,242 |
Total |  |  | 4,174 |  |  |  | 4,950 |
| i. | As of December 31, 2019 and 2018, the Bank has no financial leases which cannot be unilaterally rescinded.
| j. | The Bank has no restriction on property, plant and equipment as of December 31, 2019 and 2018. Additionally, the property, plant and equipment have not been provided as guarantees of financial liabilities. The Bank has no debt in connection with property, plant and equipment.

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