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Provisions and Contingent Provisions (Tables) | 12 Months Ended
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Dec. 31, 2023
Provisions and Contingent Provisions [Abstract] |
Schedule of Provisions Composition | As of December 31, 2023 and 2022, the composition is as follows:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | MCh$ |  |  | MCh$ |
Provisions for personnel salaries and expenses |  |  | 81,907 |  |  |  | 99,424 |
Provisions for lawsuits and litigations |  |  | 4,504 |  |  |  | 5,533 |
Provision for loyalty programmes |  |  | 38 |  |  |  | 38 |
Provision for operational risks |  |  | 2,993 |  |  |  | 5,149 |
Provision for other contingencies |  |  | 19,391 |  |  |  | 63,232 |
Provisions for mandatory dividends |  |  | 148,921 |  |  |  | 237,683 |
Provision for interest of perpetual bonds |  |  | 5,112 |  |  |  | 4,966 |
Provisions for contingent loan |  |  | 21,105 |  |  |  | 44,997 |
Total |  |  | 283,971 |  |  |  | 461,022 |
Schedule of Activity Regarding Provisions | Below is the activity regarding provisions during the years ended December 31, 2023, 2022 and 2021:
|  | Personnel salaries and expenses |  |  | Lawsuit and litigations |  |  | Loyalty programme |  |  | Operational risks |  |  | Contingencies |  |  | Mandatory Dividend |  |  | Interest of perpetual bonds |  |  | Contingent loan |  |  | Total |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Balances as of January 1, 2023 |  |  | 99,424 |  |  |  | 5,533 |  |  |  | 38 |  |  |  | 5,149 |  |  |  | 63,232 |  |  |  | 237,683 |  |  |  | 4,966 |  |  |  | 44,997 |  |  |  | 461,022 |
Provisions established |  |  | 72,090 |  |  |  | 556 |  |  |  |  |  |  |  | 1,254 |  |  |  | 2,133 |  |  |  | 148,921 |  |  |  | 15,157 |  |  |  | 67,403 |  |  |  | 307,514 |
Application of provisions |  |  | (72,840 | ) |  |  | (1,585 | ) |  |  |  |  |  |  | (3,410 | ) |  |  | (45,974 | ) |  |  | (237,683 | ) |  |  | (15,011 | ) |  |  |  |  |  |  | (376,503 | )
Provisions released |  |  | (15,474 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (91,269 | ) |  |  | (106,743 | )
Other |  |  | (1,293 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (26 | ) |  |  | (1,319 | )
Balances as of December 31, 2023 |  |  | 81,907 |  |  |  | 4,504 |  |  |  | 38 |  |  |  | 2,993 |  |  |  | 19,391 |  |  |  | 148,921 |  |  |  | 5,112 |  |  |  | 21,105 |  |  |  | 283,971 |
Balances as of January 1, 2022 |  |  | 109,001 |  |  |  | 3,035 |  |  |  | 38 |  |  |  | 1,578 |  |  |  | 52,205 |  |  |  | 252,740 |  |  |  | 4,995 |  |  |  | 40,357 |  |  |  | 463,949 |
Provisions established |  |  | 121,779 |  |  |  | 2,963 |  |  |  | - |  |  |  | 4,053 |  |  |  | 24,365 |  |  |  | 237,683 |  |  |  | 30,523 |  |  |  | 110,211 |  |  |  | 531,577 |
Application of provisions |  |  | (132,340 | ) |  |  | (465 | ) |  |  | - |  |  |  | (482 | ) |  |  | (13,338 | ) |  |  | (252,740 | ) |  |  | (30,552 | ) |  |  | - |  |  |  | (429,917 | )
Provisions released |  |  | (1,748 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (105,687 | ) |  |  | (107,435 | )
Other |  |  | 2,732 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 116 |  |  |  | 2,848 |
Balances as of December 31, 2022 |  |  | 99,424 |  |  |  | 5,533 |  |  |  | 38 |  |  |  | 5,149 |  |  |  | 63,232 |  |  |  | 237,683 |  |  |  | 4,966 |  |  |  | 44,997 |  |  |  | 461,022 |
Balances as of January 1, 2021 |  |  | 102,958 |  |  |  | 2,411 |  |  |  | 38 |  |  |  | - |  |  |  | 32,726 |  |  |  | 164,284 |  |  |  | - |  |  |  | 28,247 |  |  |  | 330,664 |
Provisions established |  |  | 90,363 |  |  |  | 624 |  |  |  | - |  |  |  | 1,578 |  |  |  | 30,413 |  |  |  | 252,740 |  |  |  | 4,995 |  |  |  | 73,201 |  |  |  | 453,914 |
Application of provisions |  |  | (80,768 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (80,768 | )
Provisions released |  |  | (1,836 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (10,934 | ) |  |  | (164,284 | ) |  |  | - |  |  |  | (63,654 | ) |  |  | (240,708 | )
Other |  |  | (1,716 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,563 |  |  |  | 847 |
Balances as of December 31, 2021 |  |  | 109,001 |  |  |  | 3,035 |  |  |  | 38 |  |  |  | 1,578 |  |  |  | 52,205 |  |  |  | 252,740 |  |  |  | 4,995 |  |  |  | 40,357 |  |  |  | 463,949 |
Schedule of Provisions for Personnel Salaries and Expenses | Provisions for personnel salaries and expenses includes:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | MCh$ |  |  | MCh$ |
Provision for short-term benefits |  |  | 79,829 |  |  |  | 97,866 |
Provision for long-term benefits |  |  | 1,450 |  |  |  | 926 |
Provision for senioruty compensation |  |  | 585 |  |  |  | 601 |
Provision for other personnel benefits |  |  | 43 |  |  |  | 31 |
Total |  |  | 81,907 |  |  |  | 99,424 |
Schedule of Provisions for Contingent Loan Risk | An analysis of changes in the corresponding ECL allowance as of December 31, 2023 and 2022 is as follows:
|  | December 31, 2023 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | TOTAL |
ECL allowance at January 1, 2023 |  | 26,316 |  |  | 8,789 |  |  | 9,892 |  |  | 44,997 |
Transfer |  |  |  |  |  |  |  |  |  |  |  |
Transfers from stage 1 to stage 2 |  |  | (2,645 | ) |  |  | 5,559 |  |  |  | - |  |  |  | 2,914 |
Transfers from stage 1 to stage 3 |  |  | (142 | ) |  |  | - |  |  |  | 1,241 |  |  |  | 1,099 |
Transfers from stage 2 to stage 3 |  |  | - |  |  |  | (2,471 | ) |  |  | 7,507 |  |  |  | 5,036 |
Transfers from stage 2 to stage 1 |  |  | 1,858 |  |  |  | (9,253 | ) |  |  | - |  |  |  | (7,395 | )
Transfers from stage 3 to stage 2 |  |  | - |  |  |  | 2,187 |  |  |  | (5,044 | ) |  |  | (2,857 | )
Transfers from stage 3 to stage 1 |  |  | 3 |  |  |  | - |  |  |  | (213 | ) |  |  | (210 | )
Net changes of the exposure and modifications in credit risk |  |  | (14,442 | ) |  |  | (1,389 | ) |  |  | (6,647 | ) |  |  | (22,478 | )
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other adjustments |  |  | 1 |  |  |  | (2 | ) |  |  | - |  |  |  | (1 | )
At December 31, 2023 |  |  | 10,949 |  |  |  | 3,420 |  |  |  | 6,736 |  |  |  | 21,105 |
|  | December 31, 2022 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | TOTAL |
ECL allowance at January 1, 2022 |  | 23,029 |  |  | 9,599 |  |  | 7,729 |  |  | 40,357 |
Transfer |  |  |  |  |  |  |  |  |  |  |  |
Transfers from stage 1 to stage 2 |  |  | (1,585 | ) |  |  | 4,719 |  |  |  | - |  |  |  | 3,134 |
Transfers from stage 1 to stage 3 |  |  | (143 | ) |  |  | - |  |  |  | 2,846 |  |  |  | 2,703 |
Transfers from stage 2 to stage 3 |  |  | - |  |  |  | (1,860 | ) |  |  | 6,124 |  |  |  | 4,264 |
Transfers from stage 2 to stage 1 |  |  | 1,832 |  |  |  | (7,467 | ) |  |  | - |  |  |  | (5,635 | )
Transfers from stage 3 to stage 2 |  |  | - |  |  |  | 3,762 |  |  |  | (2,926 | ) |  |  | 836 |
Transfers from stage 3 to stage 1 |  |  | 1 |  |  |  | - |  |  |  | (78 | ) |  |  | (77 | )
Net changes of the exposure and modifications in credit risk |  |  | 2,998 |  |  |  | 35 |  |  |  | (3,801 | ) |  |  | (768 | )
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other adjustments |  |  | 184 |  |  |  | 1 |  |  |  | -2 |  |  |  | 183 |
At December 31, 2022 |  |  | 26,316 |  |  |  | 8,789 |  |  |  | 9,892 |  |  |  | 44,997 |

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