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Right of Use Assets and Obligation for Lease Contracts

12 Months Ended

Dec. 31, 2023

Right of Use Assets and Obligation for Lease Contracts [Abstract]

RIGHT OF USE ASSETS AND OBLIGATION FOR LEASE CONTRACTS

NOTE 12 - RIGHT OF USE ASSETS AND OBLIGATION FOR LEASE CONTRACTS

The composition of the right of use assets as of December 31, 2023 and 2022 is as follows:

						As of December 31, 2023
2023		Opening balances as of January 1, 2023				Gross balance				Accumulated depreciation				Net balance
		MCh$				MCh$				MCh$				MCh$
Land and building			133,795				215,411				(114,962	)			100,449
Other			-				-				-				-
Total			133,795				215,411				(114,962	)			100,449

						As of December 31, 2022
2022		Opening balances as of January 1, 2022				Gross balance				Accumulated depreciation				Net balance
		MCh$				MCh$				MCh$				MCh$
Land and building			137,879				231,603				(97,808	)			133,795
Other			-				-				-				-
Total			137,879				231,603				(97,808	)			133,795

The movement of the right of use assets under lease during the 2023 and 2022 period, is as follows:

i.

Gross balance

2023		Land and building				Other				Total
		MCh$				MCh$				MCh$
Balances as of January 1, 2023			231,603				-				231,603
Additions			11,720				-				11,720
Disposals			(27,912	)			-				(27,912	)
Impairment			-				-				-
Other			-				-				-
Balances as of December 31, 2023			215,411				-				215,411

2022		Land and building				Other				Total
		MCh$				MCh$				MCh$
Balances as of January 1, 2022			212,446				-				212,446
Additions			31,207				-				31,207
Disposals			(12,050	)			-				(12,050	)
Impairment			-				-				-
Other			-								-
Balances as of December 31, 2022			231,603				-				231,603

ii.

Accumulated amortisation

2023		Land and building				Other				Total
		MCh$				MCh$				MCh$
Balances as of January 1, 2023			(97,808	)			-				(97,808	)
Amortisation for the period			(31,314	)			-				(31,314	)
Sales and disposals during the period			14,160				-				14,160
Transfers			-				-				-
Others			-				-				-
Balances as of December 31, 2023			(114,962	)			-				(114,962	)

2022		Land and building				Other				Total
		MCh$				MCh$				MCh$
Balances as of January 1, 2022			(74,567	)			-				(74,567	)
Amortisation for the period			(31,319	)			-				(31,319	)
Sales and disposals during the period			8,078				-				8,078
Transfers			-				-				-
Others			-				-				-
Balances as of December 31, 2022			(97,808	)			-				(97,808	)

a.

Lease liability

As of December 31, 2023 and 2022, the composition of lease liability balances are composed as follows:

		As of December 31,
		2023				2022
			MCh$				MCh$
Lease liability			104,516				137,089
Total			104,516				137,089

b.

Expenses associated with assets for the right of use leased assets and lease liability

		As of December 31,
		2023				2022
		MCh$				MCh$
Depreciation			31,314				31,319
Interests			3,601				2,862
Short term lease			9,712				5,503
Total			44,627				39,684

c.

As of December 31, 2023 and 2022, the maturity level of the lease liability, according to their contractual maturity is as follows:

		As of December 31,
		2023				2022
		MCh$				MCh$
Due within 1 year			20,716				25,902
Due after 1 year but within 2 years			19,696				24,862
Due after 2 years but within 3 years			17,750				22,093
Due after 3 years but within 4 years			12,949				19,565
Due after 4 years but within 5 years			9,964				13,220
Due after 5 years			23,441				31,447
Total			104,516				137,089

d.

Operational leases – lessor

As of December 31, 2023 and 2022, the future minimum lease cash inflows under non-cancellable operating leases are as follows:

		As of December 31,
		2023				2022
		MCh$				MCh$
Due within 1 year			1,012				1,090
Due after 1 year but within 2 years			1,874				1,805
Due after 2 years but within 3 years			787				582
Due after 3 years but within 4 years			736				475
Due after 4 years but within 5 years			522				470
Due after 5 years			852				1,194
Total			5,783				5,616

e.

As of December 31, 2023 and 2022, the Bank has no financial leases which cannot be unilaterally rescinded.

f.

The Bank has no restriction on property, plant and equipment as of December 31, 2023 and 2022. Additionally, the property, plant and equipment have not been provided as guarantees of financial liabilities. The Bank has no debt in connection with property, plant and equipment.