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v3.19.3.a.u2

Accounting Changes (Tables) | 12 Months Ended
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Dec. 31, 2019
Accounting Changes |
Schedule of impacts and reclassifications | Below is the detail of impacts as of January 1, 2019:
|  | Balance as |  |  |  |  |  | Balance as |
|  | of December 31, 2018 |  |  | Additions |  |  | of January 01, 2019 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Right of use assets |  |  | - |  |  |  | 154,284 |  |  |  | 154,284 |
Subtotals Assets |  |  | - |  |  |  | 154,284 |  |  |  | 154,284 |
Lease liability |  |  | - |  |  |  | 154,284 |  |  |  | 154,284 |
Subtotals Liabilities |  |  | - |  |  |  | 154,284 |  |  |  | 154,284 |
Schedule of financial position and retained earning | The following disclosure provides the impact of adopting IFRS 9 on the statements of financial position and retained earnings including the effect of replacing IAS 39's incurred credit loss provision with IFRS 9's ECLs.
|  |  |  | IAS 39 carrying amount |  |  |  |  |  |  |  |  | IFRS 9 carrying amount |
|  |  |  | Category |  |  | Amount |  |  | Reclassification |  |  | Remeasurement |  |  | Amount |  |  | Category |
|  | Ref |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
AMORTISED COST |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and deposit in banks |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 and closing under IFRS 9 |  |  |  |  | AC |  |  |  | 1,452,922 |  |  |  | - |  |  |  | - |  |  |  | 1,452,922 |  |  |  | AC |
Interbank loans, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | AC |  |  |  | 162,213 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: ECL Allowance |  | A |  |  | - |  |  |  | - |  |  |  | (162,213 | ) |  |  | - |  |  |  | - |  |  |  | - |
Closing balance under IFRS9 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loans and accounts receivable from customers, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | AC |  |  |  | 26,772,544 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Addition: from interbank loans |  | A |  |  | - |  |  |  | - |  |  |  | 162,213 |  |  |  | - |  |  |  | - |  |  |  | - |
Subtraction to FVOCI (net of allowance) |  | B |  |  | - |  |  |  | - |  |  |  | (107,846 | ) |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: ECL Allowance |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (97,322 | ) |  |  | - |  |  |  |  |
Closing balance under IFRS 9 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 26,729,589 |  |  |  | AC |
Total financial assets measured at amortised cost |  |  |  |  |  |  |  |  | 28,387,679 |  |  |  | (107,846 | ) |  |  | (97,322 | ) |  |  | 28,182,511 |  |  |  | - |
FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (FVOCI) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale investment (debt securities) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | FVOCI |  |  |  | 2,574,546 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: ECL Allowance |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Closing balance under IFRS 9 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,574,546 |  |  |  | FVOCI |
Loans and accounts receivable from customers, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | AC |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Addition: from amortised cost (net of allowance) |  | B |  |  | - |  |  |  | - |  |  |  | 107,846 |  |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: from cost to FV |  | B |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (236 | ) |  |  | - |  |  |  | - |
Remeasurement: ECL Allowance |  | B |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 291 |  |  |  | - |  |  |  | - |
Closing balance under IFRS 9 |  |  |  |  | - |  |  |  | - |  |  |  | 107,846 |  |  |  | 55 |  |  |  | 107,901 |  |  |  | FVOCI |
Investment in associate and other companies – Bladex (equity instruments) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | Cost |  |  |  | 136 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: from cost to FV |  | C |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 306 |  |  |  | - |  |  |  | - |
Closing balance under IFRS 9 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 306 |  |  |  | 442 |  |  |  | FVOCI |
Investment in associate and other companies- Stock exchange (equity instruments) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening balance under IAS 39 |  |  |  |  | FV |  |  |  | 287 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Remeasurement: from cost to FV |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Closing balance under IFRS 9 |  | C |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 287 |  |  |  | FVOCI |
Total financial assets measured at FVOCI |  |  |  |  | - |  |  |  | 2,574,969 |  |  |  | 107,846 |  |  |  | 361 |  |  |  | 2,683,176 |  |  |  | - |
| Ref | IAS 39 carrying amount |  |  | IFRS 9 carrying amount
| Category | Amount | Reclassification | Remeasurement | Amount | Category
| MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$
FAIR VALUE THROUGH PROFIT OR LOSS (FVPL) |  |  |  |  |
Trading investment |  |  |  |  |  |  |
Opening balance under IAS 39 and closing under IFRS 9 |  | FVPL | 485,736 | - | - | 485,736 | FVPL
Derivative contracts (hedging + trading) |  |  |  | - | - | - | -
Opening balance under IAS 39 and closing under IFRS 9 |  | FVPL | 2,238,647 | - | - | 2,238,647 | FVPL
Total financial assets measured at FVTPL |  |  | 2,724,383 | - | - | 2,274,383 | -
Schedule of impairment allowance | The following table reconciles the December 31, 2017 period's closing impairment allowance measured in accordance with the IAS 39 incurred loss model to the new impairment model:
|  | Loans loss allowance under IAS 39 |  |  | Reclassification |  |  | Remeasurement |  |  | Loans loss allowance under IFRS 9 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Loans and receivable (IAS 39)/ Financial assets at amortised cost (IFRS 9) |  |  |  |  |  |  |  |  |  |  |  |
Interbank loans |  |  | 472 |  |  |  | (472 | ) |  |  | - |  |  |  | - |
Loans and account receivable from customers |  |  | 790,685 |  |  |  | 84 |  |  |  | 97,322 |  |  |  | 888,091 |
Total loans and account receivable at amortised cost |  |  | 791,157 |  |  |  | (388 | ) |  |  | 97,322 |  |  |  | 888,091 |
Available for sale investment (IAS39)/Financial assets at FVOCI (IFRS 9) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans and account receivable from customer – at FVOCI |  |  | - |  |  |  | 388 |  |  |  | (291 | ) |  |  | 97 |
Total financial assets at FVOCI |  |  | - |  |  |  | 388 |  |  |  | (291 | ) |  |  | 97 |
Other credit- related commitments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent liabilities |  |  | 8,404 |  |  |  | - |  |  |  | (3,767 | ) |  |  | 4,637 |
Loan commitments |  |  | - |  |  |  | - |  |  |  | 19,124 |  |  |  | 19,124 |
Total contingents |  |  | 8,404 |  |  |  | - |  |  |  | 15,357 |  |  |  | 23,761 |
Total provision for loan losses |  |  | 799,561 |  |  |  | - |  |  |  | 112,388 |  |  |  | 911,949 |
Schedule of composation of loan portfolio | The composition of the loan portfolio as of January 1, 2018 is as follows:
|  | Assets before allowances |  |  | ECL allowance |  |  |  |
As of January 1, 2018 |  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |  |  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |  |  | Net Assets |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interbank loans |  |  | 162,685 |  |  |  | - |  |  |  | - |  |  |  | 162,685 |  |  |  | 13 |  |  |  | - |  |  |  | - |  |  |  | 13 |  |  |  | 162,672 |
Commercial loans |  |  | 8,743,179 |  |  |  | 595,436 |  |  |  | 543,807 |  |  |  | 9,882,422 |  |  |  | 56,546 |  |  |  | 36,541 |  |  |  | 246,870 |  |  |  | 339,957 |  |  |  | 9,542,465 |
Foreign trade loans |  |  | 1,464,059 |  |  |  | 56,110 |  |  |  | 54,344 |  |  |  | 1,574,513 |  |  |  | 4,883 |  |  |  | 849 |  |  |  | 33,480 |  |  |  | 39,212 |  |  |  | 1,535,301 |
Checking accounts debtors |  |  | 173,738 |  |  |  | 8,005 |  |  |  | 13,953 |  |  |  | 195,696 |  |  |  | 2,302 |  |  |  | 411 |  |  |  | 9,385 |  |  |  | 12,098 |  |  |  | 183,598 |
Factoring transactions |  |  | 441,014 |  |  |  | 4,035 |  |  |  | 4,841 |  |  |  | 449,890 |  |  |  | 837 |  |  |  | 91 |  |  |  | 3,366 |  |  |  | 4,294 |  |  |  | 445,596 |
Student loans |  |  | 70,984 |  |  |  | 7,402 |  |  |  | 9,904 |  |  |  | 88,290 |  |  |  | 3,644 |  |  |  | 2,329 |  |  |  | 6,092 |  |  |  | 12,065 |  |  |  | 76,225 |
Leasing transactions |  |  | 1,235,103 |  |  |  | 161,882 |  |  |  | 60,019 |  |  |  | 1,457,004 |  |  |  | 8,946 |  |  |  | 9,553 |  |  |  | 27,835 |  |  |  | 46,334 |  |  |  | 1,410,670 |
Other loans and account receivable |  |  | 110,307 |  |  |  | 5,663 |  |  |  | 36,623 |  |  |  | 152,593 |  |  |  | 2,640 |  |  |  | 1,549 |  |  |  | 24,551 |  |  |  | 28,740 |  |  |  | 123,853 |
Subtotal |  |  | 12,401,069 |  |  |  | 838,533 |  |  |  | 723,491 |  |  |  | 13,963,093 |  |  |  | 79,811 |  |  |  | 51,323 |  |  |  | 351,579 |  |  |  | 482,713 |  |  |  | 13,480,380 |
Mortgage loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans with mortgage finance bonds |  |  | 21,529 |  |  |  | 1,230 |  |  |  | 1,301 |  |  |  | 24,060 |  |  |  | 25 |  |  |  | 51 |  |  |  | 172 |  |  |  | 248 |  |  |  | 23,812 |
Endorsable mortgage mutual loans |  |  | 107,900 |  |  |  | 2,973 |  |  |  | 4,205 |  |  |  | 115,078 |  |  |  | 100 |  |  |  | 143 |  |  |  | 628 |  |  |  | 871 |  |  |  | 114,207 |
Other mortgage mutual loans |  |  | 8,061,800 |  |  |  | 465,146 |  |  |  | 430,811 |  |  |  | 8,957,757 |  |  |  | 14,477 |  |  |  | 20,033 |  |  |  | 72,390 |  |  |  | 106,900 |  |  |  | 8,850,857 |
Subtotal |  |  | 8,191,229 |  |  |  | 469,349 |  |  |  | 436,317 |  |  |  | 9,096,895 |  |  |  | 14,602 |  |  |  | 20,227 |  |  |  | 73,190 |  |  |  | 108,019 |  |  |  | 8,988,876 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment consumer loans |  |  | 2,378,614 |  |  |  | 234,044 |  |  |  | 298,084 |  |  |  | 2,910,742 |  |  |  | 51,172 |  |  |  | 46,866 |  |  |  | 157,811 |  |  |  | 255,849 |  |  |  | 2,654,893 |
Credit card balances |  |  | 1,324,742 |  |  |  | 20,916 |  |  |  | 19,322 |  |  |  | 1,364,980 |  |  |  | 20,443 |  |  |  | 7,633 |  |  |  | 11,982 |  |  |  | 40,058 |  |  |  | 1,324,922 |
Leasing transactions |  |  | 4,627 |  |  |  | 47 |  |  |  | 41 |  |  |  | 4,715 |  |  |  | 1,013 |  |  |  | 23 |  |  |  | 74 |  |  |  | 1,110 |  |  |  | 3,605 |
Other consumer loans |  |  | 270,410 |  |  |  | 2,573 |  |  |  | 4,272 |  |  |  | 277,255 |  |  |  | 84 |  |  |  | 35 |  |  |  | 223 |  |  |  | 342 |  |  |  | 276,913 |
Subtotal |  |  | 3,978,393 |  |  |  | 257,580 |  |  |  | 321,719 |  |  |  | 4,557,692 |  |  |  | 72,712 |  |  |  | 54,557 |  |  |  | 170,090 |  |  |  | 297,359 |  |  |  | 4,260,333 |
Total |  |  | 24,570,691 |  |  |  | 1,565,462 |  |  |  | 1,481,527 |  |  |  | 27,617,680 |  |  |  | 167,125 |  |  |  | 126,107 |  |  |  | 594,859 |  |  |  | 888,091 |  |  |  | 26,729,589 |

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