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Debt Instruments at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Instruments At Fair Value Through Other Comprehensive Income Tables Abstract |
Schedule of debt instrument | As of December 31, 2019 detail of debt instruments is as follows:
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |
Chilean central bank bonds |  |  | 272,802 |  |  |  | 657,096 |
Chilean central bank notes |  |  | 1,186,724 |  |  |  | 56,719 |
Other Chilean central bank and government securities |  |  | 1,908,031 |  |  |  | 1,207,221 |
Subtotal |  |  | 3,367,557 |  |  |  | 1,921,036 |
of which sold under repurchase agreement |  |  | 379,294 |  |  |  | 16,109 |
Other Chilean securities |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 398 |  |  |  | 2,693 |
Mortgage finance bonds of Chilean financial institutions |  |  | 16,748 |  |  |  | 19,227 |
Other instruments issued in the country |  |  | 2,410 |  |  |  | 2,907 |
Subtotal |  |  | 19,556 |  |  |  | 24,827 |
of which sold under repurchase agreement |  |  | 131 |  |  |  | 128 |
Foreign financial securities |  |  |  |  |  |  |  |
Foreign Central Banks and Government securities |  |  | 197,685 |  |  |  | 280,622 |
Other foreign financial securities |  |  | 425,474 |  |  |  | 167,838 |
Subtotal |  |  | 623,159 |  |  |  | 448,460 |
of which sold under repurchase agreement |  |  | - |  |  |  | - |
Total |  |  | 4,010,272 |  |  |  | 2,394,323 |
Schedule of changes in the fair value and the corresponding ECL | An analysis of changes in the fair value and the corresponding ECL as of December 31, 2019 is as follows:
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
Gross carrying amount at January 1, 2019 |  |  | 2,394,323 |  |  |  | - |  |  |  | - |  |  |  | 2,394,323 |
New assets purchased |  |  | 7,573,665 |  |  |  | - |  |  |  | - |  |  |  | 7,573,665 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (5,694,456 | ) |  |  | - |  |  |  | - |  |  |  | (5,694,456 | )
Changes due to modifications not derecognised |  |  | 394,648 |  |  |  | - |  |  |  | - |  |  |  | 394,648 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | (657,908 | ) |  |  | - |  |  |  | - |  |  |  | (657,908 | )
At December 31, 2019 |  |  | 4,010,272 |  |  |  | - |  |  |  | - |  |  |  | 4,010,272 |
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
ECL at January 1, 2019 |  |  | 258 |  |  |  | - |  |  |  | - |  |  |  | 258 |
New assets purchased |  |  | 816 |  |  |  | - |  |  |  | - |  |  |  | 816 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (614 | ) |  |  | - |  |  |  | - |  |  |  | (614 | )
Changes due to modifications not derecognised |  |  | 67 |  |  |  | - |  |  |  | - |  |  |  | 67 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | (71 | ) |  |  | - |  |  |  | - |  |  |  | (71 | )
At December 31, 2019 |  |  | 456 |  |  |  | - |  |  |  | - |  |  |  | 456 |
An analysis of changes in the fair value and the corresponding ECL as of December 31, 2018 is as follows:
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
Gross carrying amount at January 1, 2018 |  |  | 2,574,546 |  |  |  | - |  |  |  | - |  |  |  | 2,574,546 |
New assets purchased |  |  | 5,037,857 |  |  |  | - |  |  |  | - |  |  |  | 5,037,857 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (5,604,114 | ) |  |  | - |  |  |  | - |  |  |  | (5,604,114 | )
Changes due to modifications not derecognised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | 386,034 |  |  |  | - |  |  |  | - |  |  |  | 386,034 |
At December 31, 2018 |  |  | 2,394,323 |  |  |  | - |  |  |  | - |  |  |  | 2,394,323 |
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
ECL at January 1, 2018 |  |  | 324 |  |  |  | - |  |  |  | - |  |  |  | 324 |
New assets purchased |  |  | 634 |  |  |  | - |  |  |  | - |  |  |  | 634 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (705 | ) |  |  | - |  |  |  | - |  |  |  | (705 | )
Changes due to modifications not derecognised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 5 |
At December 31, 2018 |  |  | 258 |  |  |  | - |  |  |  | - |  |  |  | 258 |
Schedule of gross profits and losses realized on the sale of available for sale investments | Gross profits and losses realized on the sale of available for sale investments as of December 31, 2019, 2018 and 2017 is as follows:
|  | As of December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Sale of available for sale investments generating realized profits |  |  | 5,781,636 |  |  |  | 3,505,266 |  |  |  | 6,469,344 |
Realized profits |  |  | 63,828 |  |  |  | 8,802 |  |  |  | 4,867 |
Sale of available for sale investments generating realized losses |  |  | 607,349 |  |  |  | 709,371 |  |  |  | 466,732 |
Realized losses |  |  | 156 |  |  |  | 6,004 |  |  |  | 3 |
Schedule of available for sale investments cumulative unrealized profit and loss | The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2019:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chilean central bank Bonds |  |  | 270,979 |  |  |  | 272,802 |  |  |  | 3,600 |  |  |  | (1,777 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 270,979 |  |  |  | 272,802 |  |  |  | 3,600 |  |  |  | (1,777 | )
Chilean central bank notes |  |  | 1,186,487 |  |  |  | 1,186,724 |  |  |  | 237 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,186,487 |  |  |  | 1,186,724 |  |  |  | 237 |  |  |  | - |
Other Chilean central bank and government securities |  |  | 1,895,367 |  |  |  | 1,908,031 |  |  |  | 38,002 |  |  |  | (25,338 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,895,367 |  |  |  | 1,908,031 |  |  |  | 38,002 |  |  |  | (25,338 | )
Subtotal |  |  | 3,352,833 |  |  |  | 3,367,557 |  |  |  | 41,839 |  |  |  | (27,115 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,352,833 |  |  |  | 3,367,557 |  |  |  | 41,839 |  |  |  | (27,115 | )
Other Chilean securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 398 |  |  |  | 398 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 398 |  |  |  | 398 |  |  |  | - |  |  |  | - |
Mortgage finance bonds of Chilean financial institutions |  |  | 15,962 |  |  |  | 16,748 |  |  |  | 786 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 15,962 |  |  |  | 16,748 |  |  |  | 786 |  |  |  | - |
Chilean financial institution bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Chilean corporate bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other Chilean securities |  |  | 407 |  |  |  | 2,410 |  |  |  | 2,003 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 407 |  |  |  | 2,410 |  |  |  | 2,003 |  |  |  | - |
Subtotal |  |  | 16,767 |  |  |  | 19,556 |  |  |  | 2,789 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16,767 |  |  |  | 19,556 |  |  |  | 2,789 |  |  |  | - |
Foreign financial securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign central banks and government securities |  |  | 198,020 |  |  |  | 197,685 |  |  |  | 11,110 |  |  |  | (11,445 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 198,020 |  |  |  | 197,685 |  |  |  | 11,110 |  |  |  | (11,445 | )
Other foreign financial securities |  |  | 413,468 |  |  |  | 425,474 |  |  |  | 13,080 |  |  |  | (1,074 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 413,468 |  |  |  | 425,474 |  |  |  | 13,080 |  |  |  | (1,074 | )
Subtotal |  |  | 611,488 |  |  |  | 623,159 |  |  |  | 24,190 |  |  |  | (12,519 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 611,488 |  |  |  | 623,159 |  |  |  | 24,190 |  |  |  | (12,519 | )
Total |  |  | 3,981,088 |  |  |  | 4,010,272 |  |  |  | 68,818 |  |  |  | (39,634 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,981,088 |  |  |  | 4,010,272 |  |  |  | 68,818 |  |  |  | (39,634 | )
The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2018:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized los |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chilean central bank Bonds |  |  | 658,013 |  |  |  | 657,096 |  |  |  | 3,698 |  |  |  | (4,615 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 658,013 |  |  |  | 657,096 |  |  |  | 3,698 |  |  |  | (4,615 | )
Chilean central bank notes |  |  | 56,737 |  |  |  | 56,719 |  |  |  | 10 |  |  |  | (27 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 56,737 |  |  |  | 56,719 |  |  |  | 10 |  |  |  | (27 | )
Other Chilean central bank and government securities |  |  | 1,196,819 |  |  |  | 1,207,220 |  |  |  | 10,689 |  |  |  | (262 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,196,819 |  |  |  | 1,207,220 |  |  |  | 10,689 |  |  |  | (262 | )
Subtotal |  |  | 1,911,569 |  |  |  | 1,921,035 |  |  |  | 14,397 |  |  |  | (4,904 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,911,569 |  |  |  | 1,921,035 |  |  |  | 14,397 |  |  |  | (4,904 | )
Other Chilean securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 2,691 |  |  |  | 2,693 |  |  |  | 1 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,691 |  |  |  | 2,693 |  |  |  | 1 |  |  |  | - |
Mortgage finance bonds of Chilean financial institutions |  |  | 19,010 |  |  |  | 19,227 |  |  |  | 426 |  |  |  | (209 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,010 |  |  |  | 19,227 |  |  |  | 426 |  |  |  | (209 | )
Chilean financial institution bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Chilean corporate bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other Chilean securities |  |  | 220 |  |  |  | 2,907 |  |  |  | 2,687 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 220 |  |  |  | 2,907 |  |  |  | 2,687 |  |  |  | - |
Subtotal |  |  | 21,921 |  |  |  | 24,827 |  |  |  | 3,114 |  |  |  | (209 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 21,921 |  |  |  | 24,827 |  |  |  | 3,114 |  |  |  | (209 | )
Foreign financial securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign central banks and government securities |  |  | 280,021 |  |  |  | 280,622 |  |  |  | 602 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 280,021 |  |  |  | 280,622 |  |  |  | 602 |  |  |  | - |
Other foreign financial securities |  |  | 174,387 |  |  |  | 167,837 |  |  |  | - |  |  |  | (6,575 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 174,387 |  |  |  | 167,837 |  |  |  | - |  |  |  | (6,575 | )
Subtotal |  |  | 454,408 |  |  |  | 448,459 |  |  |  | 602 |  |  |  | (6,575 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 454,408 |  |  |  | 448,459 |  |  |  | 602 |  |  |  | (6,575 | )
Total |  |  | 2,387,898 |  |  |  | 2,394,322 |  |  |  | 18,112 |  |  |  | (11,688 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,387,898 |  |  |  | 2,394,322 |  |  |  | 18,112 |  |  |  | (11,688 |

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