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Interest Income

12 Months Ended

Dec. 31, 2021

Disclosure of interest income (expense) [text block] [Abstract]

NOTE 26

INTEREST INCOME

This item refers to interest earned in the period from the financial assets whose return, whether implicitly or explicitly, is determined by applying the effective interest rate method, regardless of the value at fair value, as well as the effect of hedge accounting (see c).

For the years ended December 31, 2021, 2020 and 2019 the income from interest, was attributable to the following items:

	For the years ended December 31,
	2021								2020								2019
	Interest		Inflation adjustments		Prepaid fees		Total		Interest		Inflation adjustments		Prepaid fees		Total		Interest		Inflation adjustments		Prepaid fees		Total
Items	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Resale agreements		190		-		-		190		124		-		-		124		718		-		-		718
Interbank loans		429		-		-		429		36		-		-		36		1,263		-		-		1,263
Commercial loans		665,226		405,963		9,880		1,081,069		722,116		174,360		10,207		906,683		780,284		160,462		16,478		957,224
Mortgage loans		337,669		838,851		852		1,177,372		322,687		314,777		491		637,955		349,663		283,820		455		633,938
Consumer loans		475,133		559		5,534		481,226		564,363		338		5,245		569,946		593,705		384		8,107		602,196
Investment instruments		102,389		110,510		-		212,899		69,276		36,141		-		105,417		71,150		26,169		-		97,319
Other interest income		6,119		8,629		-		14,748		9,078		4,384		-		13,462		18,387		3,592		-		21,979

Interest income not including income from hedge accounting		1,587,155		1,364,512		16,266		2,967,933		1,687,680		530,000		15,943		2,233,623		1,815,170		474,427		25,040		2,314,637

For the years ended December 31, 2021, 2020 and 2019, the expense from interest expense, excluding expense from hedge accounting, is as follows:

	For the years ended December 31,
	2021									2020									2019
	Interest			Inflation adjustments			Total			Interest			Inflation adjustments			Total			Interest			Inflation adjustments			Total
Items	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Demand deposits		(14,533	)		(4,938	)		(19,471	)		(13,576	)		(1,526	)		(15,102	)		(14,018	)		(1,508	)		(15,526	)
Repurchase agreements		(839	)		-			(839	)		(1,899	)		-			(1,899	)		(9,710	)		-			(9,710	)
Time deposits and liabilities		(88,949	)		(20,451	)		(109,400	)		(141,091	)		(20,876	)		(161,967	)		(335,307	)		(27,172	)		(362,479	)
Interbank loans		(43,559	)		-			(43,559	)		(45,103	)		-			(45,103	)		(50,354	)		-			(50,354	)
Issued debt instruments		(192,789	)		(302,578	)		(495,367	)		(232,551	)		(140,095	)		(372,646	)		(250,512	)		(145,487	)		(395,999	)
Other financial liabilities		(560	)		(25	)		(585	)		(637	)		(11	)		(648	)		(1,310	)		(33	)		(1,343	)
Lease contracts		(2,283	)		-			(2,283	)		(2,651	)		-			(2,651	)		(2,965	)		-			(2,965	)
Other interest expense		(2,955	)		(33,001	)		(35,956	)		(9,576	)		(14,722	)		(24,298	)		(16,651	)		(11,300	)		(27,951	)
Interest expense not including expenses from hedge accounting		(346,467	)		(360,993	)		(707,460	)		(447,084	)		(177,230	)		(624,314	)		(680,827	)		(185,500	)		(866,327	)

For the years ended December 31, 2021, 2020 and 2019, the income and expense from interest is as follows:

	For the years ended December 31,
	2021			2020			2019
Items	MCh$			MCh$			MCh$

Interest income not including income from hedge accounting		2,967,933			2,233,623			2,314,637
Interest expense not including expense from hedge accounting		(707,460	)		(624,314	)		(866,327	)

Net Interest income (expense) from hedge accounting		2,260,473			1,609,309			1,448,310

Hedge accounting (net)		(449,122	)		(15,461	)		(31,346	)

Total net interest income		1,811,351			1,593,848			1,416,964