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Provisions and Contingent Provisions | 12 Months Ended
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Dec. 31, 2021
Disclosure of provisions [text block] [Abstract] |
PROVISIONS AND CONTINGENT PROVISIONS | NOTE 21 PROVISIONS AND CONTINGENT PROVISIONS
a) | As of December 31, 2021 and 2020, the composition is as follows:
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
|  | MCh$ |  |  | MCh$ |
Provisions for personnel salaries and expenses |  |  | 110,621 |  |  |  | 104,270 |
Provisions for mandatory dividends |  |  | 253,640 |  |  |  | 164,284 |
Provision for interest of perpetual bonds |  |  | 4,995 |  |  |  | - |
Provisions for contingent loan |  |  | 40,357 |  |  |  | 28,247 |
Provision for contingencies |  |  | 55,236 |  |  |  | 33,863 |
Total |  |  | 464,849 |  |  |  | 330,664 |
b) | Below is the activity regarding provisions during the years ended December 31, 2021, 2020 and 2019:
|  | Personnel salaries and expenses |  |  | Mandatory Dividend |  |  | Interest of perpetual bonds |  |  | Contingent loan |  |  | Contingencies |  |  | Total |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Balances as of January 1, 2021 |  |  | 104,270 |  |  |  | 164,284 |  |  |  | - |  |  |  | 28,247 |  |  |  | 33,863 |  |  |  | 330,664 |
Provisions established |  |  | 90,363 |  |  |  | 253,640 |  |  |  | 4,995 |  |  |  | 73,201 |  |  |  | 32,269 |  |  |  | 454,468 |
Application of provisions |  |  | (80,768 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (80,768 | )
Provisions released |  |  | (1,836 | ) |  |  | (164,284 | ) |  |  | - |  |  |  | (63,654 | ) |  |  | (10,896 | ) |  |  | (240,670 | )
Other |  |  | (1,408 | ) |  |  | - |  |  |  | - |  |  |  | 2,563 |  |  |  | - |  |  |  | 1,155 |
Balances as of December 31, 2021 |  |  | 110,621 |  |  |  | 253,640 |  |  |  | 4,995 |  |  |  | 40,357 |  |  |  | 55,236 |  |  |  | 464,849 |
Balances as of January 1, 2020 |  |  | 101,223 |  |  |  | 185,727 |  |  |  | - |  |  |  | 23,240 |  |  |  | 15,940 |  |  |  | 326,130 |
Provisions established |  |  | 76,281 |  |  |  | 164,284 |  |  |  | - |  |  |  | 14,683 |  |  |  | 25,367 |  |  |  | 280,615 |
Application of provisions |  |  | (71,481 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (71,481 | )
Provisions released |  |  | (1,755 | ) |  |  | (185,727 | ) |  |  | - |  |  |  | (9,676 | ) |  |  | (7,444 | ) |  |  | (204,602 | )
Other |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |
Balances as of December 31, 2020 |  |  | 104,270 |  |  |  | 164,284 |  |  |  | - |  |  |  | 28,247 |  |  |  | 33,863 |  |  |  | 330,664 |
Balances as of January 1, 2019 |  |  | 93,379 |  |  |  | 178,600 |  |  |  | - |  |  |  | 23,709 |  |  |  | 9,583 |  |  |  | 305,271 |
Provisions established |  |  | 78,316 |  |  |  | 185,727 |  |  |  | - |  |  |  | 15,879 |  |  |  | 28,373 |  |  |  | 308,295 |
Application of provisions |  |  | (70,385 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (155 | ) |  |  | (70,540 | )
Provisions released |  |  | (552 | ) |  |  | (178,600 | ) |  |  | - |  |  |  | (16,348 | ) |  |  | (21,861 | ) |  |  | (217,361 | )
Other |  |  | 465 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 465 |
Balances as of December 31, 2019 |  |  | 101,223 |  |  |  | 185,727 |  |  |  | - |  |  |  | 23,240 |  |  |  | 15,940 |  |  |  | 326,130 |
c) | Provisions for personnel salaries and expenses includes:
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
|  | MCh$ |  |  | MCh$ |
Provision for seniority compensation |  |  | 7,638 |  |  |  | 6,658 |
Provision for stock-based personnel benefits |  |  | - |  |  |  | - |
Provision for performance bonus |  |  | 73,960 |  |  |  | 65,786 |
Provision for vacations |  |  | 28,553 |  |  |  | 29,307 |
Provision for other personnel benefits |  |  | 470 |  |  |  | 2,519 |
Total |  |  | 110,621 |  |  |  | 104,270 |
d) | Provisions for contingent loan risk
Provision for contingent loan arise from contingent liabilities and loan commitments. Provisions for ECL risks in respect of contingent loan are included in ECL allowance in the income statements for the year. An analysis of changes in the corresponding ECL allowance as of December 31, 2021 and 2020 is as follows:
|  | December 31, 2021 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | TOTAL |
ECL allowance at January 1, 2021 |  | 13,825 |  |  | 6,315 |  |  | 8,107 |  |  | 28,247 |
Transfer |  |  |  |  |  |  |  |  |  |  |  |
Transfers from stage 1 to stage 2 |  |  | (1,303 | ) |  |  | 4,714 |  |  |  | - |  |  |  | 3,411 |
Transfers from stage 1 to stage 3 |  |  | (70 | ) |  |  | - |  |  |  | 2,876 |  |  |  | 2,806 |
Transfers from stage 2 to stage 3 |  |  | - |  |  |  | (217 | ) |  |  | 4,990 |  |  |  | 4,773 |
Transfers from stage 2 to stage 1 |  |  | 1,323 |  |  |  | (4,551 | ) |  |  | - |  |  |  | (3,228 | )
Transfers from stage 3 to stage 2 |  |  | - |  |  |  | 217 |  |  |  | (1,699 | ) |  |  | (1,482 | )
Transfers from stage 3 to stage 1 |  |  | 12 |  |  |  | - |  |  |  | (469 | ) |  |  | (457 | )
Net changes on financial assets |  |  | 9,058 |  |  |  | 3,120 |  |  |  | (6,074 | ) |  |  | 6,104 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other adjustments |  |  | 184 |  |  |  | 1 |  |  |  | (2 | ) |  |  | 183 |
At December 31, 2021 |  |  | 23,029 |  |  |  | 9,599 |  |  |  | 7,729 |  |  |  | 40,357 |
|  | December 31, 2020 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | TOTAL |
ECL allowance at January 1, 2020 |  | 14,636 |  |  | 768 |  |  | 7,836 |  |  | 23,240 |
Transfer |  |  |  |  |  |  |  |  |  |  |  |
Transfers from stage 1 to stage 2 |  |  | (4,887 | ) |  |  | 15,227 |  |  |  | - |  |  |  | 10,340 |
Transfers from stage 1 to stage 3 |  |  | (76 | ) |  |  | - |  |  |  | 2,840 |  |  |  | 2,764 |
Transfers from stage 2 to stage 3 |  |  | - |  |  |  | (221 | ) |  |  | 4,559 |  |  |  | 4,338 |
Transfers from stage 2 to stage 1 |  |  | 2,852 |  |  |  | (9,569 | ) |  |  | - |  |  |  | (6,717 | )
Transfers from stage 3 to stage 2 |  |  | - |  |  |  | 240 |  |  |  | (1,940 | ) |  |  | (1,700 | )
Transfers from stage 3 to stage 1 |  |  | 14 |  |  |  | - |  |  |  | (444 | ) |  |  | (430 | )
Net changes on financial assets |  |  | 2,079 |  |  |  | (189 | ) |  |  | (4,743 | ) |  |  | (2,853 | )
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other adjustments |  |  | (793 | ) |  |  | 59 |  |  |  | (1 | ) |  |  | (735 | )
At December 31, 2020 |  |  | 13,825 |  |  |  | 6,315 |  |  |  | 8,107 |  |  |  | 28,247 |

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