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Expected Credit Losses Allowance | 12 Months Ended
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Dec. 31, 2019
Expected Credit Losses Allowance [Abstract] |
EXPECTED CREDIT LOSSES ALLOWANCE | NOTE 30 EXPECTED CREDIT LOSSES ALLOWANCE
| I. | Expected credit losses (ECL) allowance – under IFRS 9
As of December 31, 2019 and 2018, under the new credit risk model established by IFRS 9 the ECL allowance by stage recorded at income statements is as follows:
For the year ended December 31, 2019 |  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  | TOTAL |
|  | Individual |  |  | Collective |  |  | Individual |  |  | Collective |  |  | Individual |  |  | Collective |  |  |  |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Commercial loans |  |  | (3,002 | ) |  |  | (4,930 | ) |  |  | (10,469 | ) |  |  | (8,686 | ) |  |  | (79,501 | ) |  |  | (33,657 | ) |  |  | (140,245 | )
Mortgage loans |  |  | - |  |  |  | (1,177 | ) |  |  | - |  |  |  | (4,998 | ) |  |  | - |  |  |  | (8,237 | ) |  |  | (14,412 | )
Consumer loans |  |  | - |  |  |  | (8,875 | ) |  |  | - |  |  |  | (15,280 | ) |  |  | - |  |  |  | (145,328 | ) |  |  | (169,483 | )
Contingent loans |  |  | 45 |  |  |  | 589 |  |  |  | 10 |  |  |  | 24 |  |  |  | 152 |  |  |  | 188 |  |  |  | 1,008 |
Loans and account receivable at FVOCI |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5 |
Debt at FVOCI |  |  | - |  |  |  | (184 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (184 | )
Total |  |  | (2,952 | ) |  |  | (14,577 | ) |  |  | (10,459 | ) |  |  | (28,940 | ) |  |  | (79,349 | ) |  |  | (187,034 | ) |  |  | (323,311 | )
For the year ended December 31, 2018 |  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  | TOTAL |
|  | Individual |  |  | Collective |  |  | Individual |  |  | Collective |  |  | Individual |  |  | Collective |  |  |  |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Commercial loans |  |  | 79 |  |  |  | 5,652 |  |  |  | (2,891 | ) |  |  | (1,533 | ) |  |  | (96,131 | ) |  |  | (47,959 | ) |  |  | (142,783 | )
Mortgage loans |  |  | - |  |  |  | 5,583 |  |  |  | - |  |  |  | 5,161 |  |  |  | - |  |  |  | 3,377 |  |  |  | 14,121 |
Consumer loans |  |  | - |  |  |  | 1,861 |  |  |  | - |  |  |  | 192 |  |  |  | - |  |  |  | (191,304 | ) |  |  | (189,251 | )
Contingent loans |  |  | (90 | ) |  |  | 1,214 |  |  |  | 11 |  |  |  | (68 | ) |  |  | (225 | ) |  |  | (834 | ) |  |  | 8 |
Loans and account receivable at FVOCI |  |  | 363 |  |  |  | - |  |  |  | 68 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 431 |
Debt at FVOCI |  |  | - |  |  |  | 66 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 66 |
Total |  |  | 352 |  |  |  | 14,376 |  |  |  | (2,812 | ) |  |  | 3,752 |  |  |  | (96,356 | ) |  |  | (236,720 | ) |  |  | (317,408 | )
| II. | Provision for loan losses – under IAS 39
|  |  |  |  | Loans and accounts receivable from customers |  |  |  |  |  |  |
For the year ended December 31, 2017 |  | Interbank loans |  |  | Commercial loans |  |  | Mortgage loans |  |  | Consumer loans |  |  | Contingent loans |  |  |  |
|  | Individual |  |  | Individual |  |  | Group |  |  | Group |  |  | Group |  |  | Individual |  |  | Group |  |  | Total |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Charged-off individually significant loans |  |  | - |  |  |  | (15,699 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (15,699 | )
Provisions established |  |  | (307 | ) |  |  | (64,658 | ) |  |  | (148,681 | ) |  |  | (43,621 | ) |  |  | (252,038 | ) |  |  | (3,117 | ) |  |  | (4,224 | ) |  |  | (516,646 | )
Total provisions and charge-offs |  |  | (307 | ) |  |  | (80,357 | ) |  |  | (148,681 | ) |  |  | (43,621 | ) |  |  | (252,038 | ) |  |  | (3,117 | ) |  |  | (4,224 | ) |  |  | (532,345 | )
Provisions released |  |  | 3,970 |  |  |  | 55,925 |  |  |  | 20,491 |  |  |  | 11,427 |  |  |  | 46,089 |  |  |  | 7,001 |  |  |  | 1,660 |  |  |  | 146,563 |
Recovery of loans previously charged off |  |  | - |  |  |  | 11,114 |  |  |  | 21,499 |  |  |  | 10,942 |  |  |  | 39,972 |  |  |  | - |  |  |  | - |  |  |  | 83,527 |
Net charge to income |  |  | 3,663 |  |  |  | (13,318 | ) |  |  | (106,691 | ) |  |  | (21,252 | ) |  |  | (165,977 | ) |  |  | 3,884 |  |  |  | (2,564 | ) |  |  | (302,255 | )
| b) | The detail of Charge-off of individually significant loans, is as follows:
|  | For the years ended December 31, |
|  | 2017 |
|  | MCh$ |
Charge-off of loans |  |  | 51,978 |
Provision applied |  |  | (36,279 | )
Net charge offs of individually significant loans |  |  | 15,699 |

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- Definition The disclosure of the allowance relating to impairments of financial assets due to credit losses. [Refer: Financial assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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