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v3.19.3.a.u2

Investments in Associates and other Companies | 12 Months Ended
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Dec. 31, 2019
Investments In Associates And Other Companies |
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES | NOTE 12 INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES
| a) | Investments in associates and other, are shown in the following table:
|  |  |  |  | Investment |
|  | Ownership interest As of December 31 |  |  | Carrying value As of December 31, |  |  | Profit and loss As of December 31, |
|  | 2019 MCh$ |  |  | 2018 MCh$ |  |  | 2017 MCh$ |  |  | 2019 MCh$ |  |  | 2018 MCh$ |  |  | 2017 MCh$ |  |  | 2019 MCh$ |  |  | 2018 MCh$ |  |  | 2017 MCh$ |
Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redbanc S.A. (*) |  |  | - |  |  |  | 33,43 |  |  |  | 33,43 |  |  |  | - |  |  |  | 2,822 |  |  |  | 2,537 |  |  |  | - |  |  |  | - |  |  |  | - |
Transbank S.A. (*) |  |  | - |  |  |  | 25,00 |  |  |  | 25,00 |  |  |  | - |  |  |  | 17,651 |  |  |  | 14,534 |  |  |  | - |  |  |  | - |  |  |  | - |
Centro de Compensación Automatizado S.A. |  |  | 33,33 |  |  |  | 33,33 |  |  |  | 33,33 |  |  |  | 2,184 |  |  |  | 1,894 |  |  |  | 1,589 |  |  |  | 293 |  |  |  | 305 |  |  |  | 236 |
Sociedad Interbancaria de Depósito de Valores S.A. |  |  | 29,29 |  |  |  | 29,29 |  |  |  | 29,29 |  |  |  | 1,485 |  |  |  | 1,233 |  |  |  | 1,087 |  |  |  | 252 |  |  |  | 223 |  |  |  | 235 |
Cámara de Compensación de Alto Valor S.A. (1) |  |  | 15,00 |  |  |  | 15,00 |  |  |  | 15,00 |  |  |  | 958 |  |  |  | 945 |  |  |  | 909 |  |  |  | 29 |  |  |  | 58 |  |  |  | 66 |
Administrador Financiero del Transantiago S.A. |  |  | 20,00 |  |  |  | 20,00 |  |  |  | 20,00 |  |  |  | 3,986 |  |  |  | 3,680 |  |  |  | 3,098 |  |  |  | 390 |  |  |  | 582 |  |  |  | 317 |
Sociedad Nexus S.A. (*) |  |  | - |  |  |  | 12,90 |  |  |  | 12,90 |  |  |  | - |  |  |  | 2,279 |  |  |  | 1,911 |  |  |  | - |  |  |  | - |  |  |  | - |
Servicios de Infraestructura de Mercado OTC S.A. |  |  | 12,07 |  |  |  | 12,48 |  |  |  | 12,48 |  |  |  | 1,556 |  |  |  | 1,491 |  |  |  | 1,489 |  |  |  | 60 |  |  |  | 57 |  |  |  | 115 |
Subtotal |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,169 |  |  |  | 31,995 |  |  |  | 27,154 |  |  |  | 1,024 |  |  |  | 1,225 |  |  |  | 969 |
Shares or rights in other companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bladex |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 136 |  |  |  | 13 |  |  |  | 19 |  |  |  | 25 |
Stock Exchanges |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 287 |  |  |  | 109 |  |  |  | 148 |  |  |  | 150 |
Others |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |  |  |  | 8 |  |  |  | 8 |  |  |  | - |  |  |  | (67 | ) |  |  | - |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,177 |  |  |  | 32,003 |  |  |  | 27,585 |  |  |  | 1,146 |  |  |  | 1,325 |  |  |  | 1,144 |
(*) | The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, therefore, the treatment established in IFRS 5 "Non-current assets held for sale and discontinued operations" has been applied, on the participation of said companies, which is described in Note 1 v) and Note 39.
(1) | In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A.", the Bank's share increased to 15,00%.
As described in Note 1 g), the Bank has irrevocably designated its shares in Bladex and Stock exchange at fair value through other comprehensive income (FVOCI) Related dividends are recognised in the income statements under "Income from investments in associates and other companies". The fair value of these equity investments is as follows:
|  | December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Bladex |  |  | 328 |  |  |  | 329 |
Stock exchange |  |  | 154 |  |  |  | 154 |
Total |  |  | 482 |  |  |  | 483 |
| b) | Summary of financial information of associates as of and for the years ended December 31, 2019, 2018 and 2017:
As of December 31,
|  | 2019 |  | 2018 |  | 2017
|  | Assets |  | Liabilities |  | Equity |  | Net income |  | Assets |  | Liabilities |  | Equity |  | Net income |  | Assets |  | Liabilities |  | Equity |  | Net income
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Redbanc S.A. |  |  | 23,413 |  |  |  | 14,106 |  |  |  | 8,441 |  |  |  | 866 |  |  |  | 20,825 |  |  |  | 12,469 |  |  |  | 7,505 |  |  |  | 851 |  |  |  | 21,235 |  |  |  | 13,751 |  |  |  | 6,428 |  |  |  | 1,056 |
Transbank S.A. |  |  | 1,217,448 |  |  |  | 1,133,441 |  |  |  | 70,605 |  |  |  | 13,402 |  |  |  | 904,558 |  |  |  | 835,200 |  |  |  | 56,888 |  |  |  | 12,470 |  |  |  | 822,487 |  |  |  | 765,683 |  |  |  | 48,709 |  |  |  | 8,095 |
Centro de Compensación Automatizado S.A. |  |  | 8,550 |  |  |  | 1,998 |  |  |  | 5,671 |  |  |  | 881 |  |  |  | 7,073 |  |  |  | 1,480 |  |  |  | 4,677 |  |  |  | 916 |  |  |  | 6,871 |  |  |  | 2,174 |  |  |  | 3,989 |  |  |  | 708 |
Sociedad Interbancaria de Depósito de Valores S.A. |  |  | 5,074 |  |  |  | 4 |  |  |  | 4,209 |  |  |  | 861 |  |  |  | 4,392 |  |  |  | 230 |  |  |  | 3,400 |  |  |  | 762 |  |  |  | 3,720 |  |  |  | 60 |  |  |  | 2,858 |  |  |  | 802 |
Cámara de Compensación de Alto Valor S.A. |  |  | 7,372 |  |  |  | 986 |  |  |  | 6,193 |  |  |  | 193 |  |  |  | 6,728 |  |  |  | 622 |  |  |  | 5,722 |  |  |  | 384 |  |  |  | 6,338 |  |  |  | 500 |  |  |  | 5,399 |  |  |  | 439 |
Administrador Financiero del Transantiago S.A. |  |  | 54,712 |  |  |  | 34,787 |  |  |  | 17,978 |  |  |  | 1,947 |  |  |  | 55,818 |  |  |  | 37,419 |  |  |  | 15,490 |  |  |  | 2,909 |  |  |  | 51,304 |  |  |  | 35,814 |  |  |  | 13,907 |  |  |  | 1,583 |
Sociedad Nexus S.A. |  |  | 31,147 |  |  |  | 13,471 |  |  |  | 17,660 |  |  |  | 16 |  |  |  | 35,139 |  |  |  | 18,335 |  |  |  | 13,955 |  |  |  | 2,849 |  |  |  | 32,669 |  |  |  | 18,888 |  |  |  | 10,354 |  |  |  | 3,427 |
Servicios de Infraestructura de Mercado OTC S.A. |  |  | 15,152 |  |  |  | 2,682 |  |  |  | 11,993 |  |  |  | 477 |  |  |  | 25,273 |  |  |  | 13,313 |  |  |  | 11,506 |  |  |  | 454 |  |  |  | 17,913 |  |  |  | 6,414 |  |  |  | 10,963 |  |  |  | 536 |
Total |  |  | 1,362,868 |  |  |  | 1,201,475 |  |  |  | 142,750 |  |  |  | 18,643 |  |  |  | 1,059,806 |  |  |  | 919,068 |  |  |  | 119,143 |  |  |  | 21,595 |  |  |  | 962,537 |  |  |  | 843,284 |  |  |  | 102,607 |  |  |  | 16,646 |
| c) | Restrictions over the ability of associated companies to transfer funds to investors.
There are no significant restrictions regarding the capacity of associates to transfer funds, whether in cash dividends, refund of loans, or advance payments to the Bank.
| d) | Activity with respect to investments in other companies during 2019, 2018 and 2017 is as follows:
|  | As of December 31,
|  | 2019 |  | 2018 |  | 2017
|  | MCh$ |  | MCh$ |  | MCh$
Opening balance as of January 1, |  |  | 32,003 |  |  |  | 27,585 |  |  |  | 23,780 |
Acquisition of investments |  |  | - |  |  |  | - |  |  |  | 3 |
Sale of investments |  |  | - |  |  |  | - |  |  |  | - |
Participation in income |  |  | 1,146 |  |  |  | 1,325 |  |  |  | 1,144 |
Dividends received |  |  | (130 | ) |  |  | (38 | ) |  |  | (116 | )
Other adjustments |  |  | (22,842 | ) |  |  | 3,131 |  |  |  | 2,774 |
Total |  |  | 10,177 |  |  |  | 32,003 |  |  |  | 27,585 |
(*) The Bank has entered into a process of selling the shares in Redbanc S.A., Transbank S.A. and Nexus SA, As such, these investment have been reclassified to held for sale and presented under Other assets in the Consolidated Statement of Financial Position.

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