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Current and Deferred Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Current and Deferred Taxes [Abstract] |
Schedule of Current Taxes | As of December 31, 2024 and 2023, the Bank recognizes taxes payable (recoverable), which is determined based on the currently applicable tax legislation. This amount is recorded net of recoverable taxes, and is shown as follows:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Summary of current tax liabilities (assets) |  |  |  |
Current tax (assets) | (60) |  |  | (146) |  |
Current tax liabilities | 48,548 |  |  | 163,878 |  |
Total tax payable (recoverable) | 48,488 |  |  | 163,732 |  |
(Assets) liabilities current taxes detail (net) |  |  |  |
Income tax, tax rate | 241,640 |  |  | 256,257 |  |
Minus: |  |  |  |
Provisional monthly payments | (191,294) |  |  | (89,631) |  |
Credit for training expenses | (2,263) |  |  | (2,242) |  |
Grant credits | (465) |  |  | (1,371) |  |
Other | 870 |  |  | 719 |  |
Total tax payable (recoverable) | 48,488 |  |  | 163,732 |  |
Schedule of Effect on Income Tax Expense | The effect of income tax expense on income for the years ended December 31, 2024, 2023 and 2022 is comprised of the following items:
| As of December 31, |
| 2024 |  | 2023 |  | 2022 |
| MCh$ |  | MCh$ |  | MCh$ |
Income tax expense |  |  |  |  |  |
Current tax | 243,136 |  |  | 238,875 |  |  | 139,961 |  |
Credits (debits) for deferred taxes |  |  |  |  |  |
Origination and reversal of temporary differences | 12,659 |  |  | (131,195) |  |  | (52,181) |  |
Valuation provision |  |  |  |  |  |
Subtotals | 255,795 |  |  | 107,680 |  |  | 87,780 |  |
Tax for rejected expenses (Article No21) | 394 |  |  | 379 |  |  | 236 |  |
Other | (36,444) |  |  | (10,511) |  |  | 5,608 |  |
Net charges for income tax expense | 219,745 |  |  | 97,548 |  |  | 93,624 |  |
NOTE 13 - CURRENT AND DEFERRED TAXES, continued
Schedule of Effective Tax Rate Reconciliation | The reconciliation between the income tax rate and the effective rate applied in determining tax expenses as of December 31, 2024, 2024 and 2023, is as follows:
| For the year ended, |
| 2024 |  | 2023 |  | 2022
| Tax rate |  | Amount |  | Tax rate |  | Amount |  | Tax rate |  | Amount |
| % |  | MCh$ |  | % |  | MCh$ |  | % |  | MCh$ |
Tax calculated over profit before tax | 27.00 |  |  | 291,491 |  |  | 27.00 |  |  | 186,674 |  |  | 27.00 |  |  | 238,415 |  |
Price level restatement for tax purposes (1) | (9.84) |  |  | (106,221) |  |  | (12.19) |  |  | (84,289) |  |  | (18.70) |  |  | (165,164) |  |
Single penalty tax (rejected expenses) | 0.04 |  |  | 394 |  |  | (0.12) |  |  | 379 |  |  | 0.03 |  |  | 236 |  |
Other | 3.16 |  |  | 34,081 |  |  | (0.12) |  |  | (5,216) |  |  | 2.28 |  |  | 20,137 |  |
Effective tax rates and expenses for income tax | 20.35 |  |  | 219,745 |  |  | 14.57 |  |  | 97,548 |  |  | 10.60 |  |  | 93,624 |  |
(1)Mainly corresponds to the permanent differences originated from the Tax Capital Monetary Correction and the effect of the bonds received under article 104 of the Tax Law.
Schedule of Effect of Deferred Taxes on Comprehensive Income | Below is a summary of the separate effect of deferred tax on other comprehensive income, showing the asset and liability balances, for the years ended December 31, 2024 and 2023:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Deferred tax assets |  |  |  |
Debt instruments at FVOCI | 19,158 |  |  | 30,150 |  |
Cash flow hedges | 21,006 |  |  | 24,599 |  |
Total deferred tax assets recognised through other comprehensive income | 40,164 |  |  | 54,749 |  |
Deferred tax liabilities |  |  |  |
Debt instruments at FVOCI | (1,025) |  |  | (5,919) |  |
Cash flow hedges | — |  |  | (47,391) |  |
Total deferred tax liabilities recognised through other comprehensive income | (1,025) |  |  | (53,310) |  |
Net deferred tax balances in equity | 39,139 |  |  | 1,439 |  |
Deferred taxes in equity attributable to shareholders of the Bank | 39,639 |  |  | 1,938 |  |
Deferred tax in equity attributable to non-controlling interests | (500) |  |  | (499) |  |
NOTE 13 - CURRENT AND DEFERRED TAXES, continued
Schedule of Effect of Deferred Taxes on Income | As of December 31, 2024 and 2023, the Bank has recorded effects for deferred taxes in the financial statements:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Deferred tax assets |  |  |  |
Interests and adjustments | 22,854 |  |  | 19,679 |  |
Extraordinary charge-offs | 43,585 |  |  | 38,421 |  |
Assets received in lieu of payment | - |  |  | 53 |  |
Property, plant and equipment valuation | 5,222 |  |  | 6,426 |  |
Allowance for loan losses | 245,571 |  |  | 219,226 |  |
Provision for expenses | 81,310 |  |  | 77,149 |  |
Derivatives | 290 |  |  | 275 |  |
Leased assets | 75,092 |  |  | 106,230 |  |
Subsidiaries tax losses | 608 |  |  | 1,108 |  |
Right of use assets | 18,058 |  |  | 27,761 |  |
Others | - |  |  | 2,398 |  |
Total deferred tax assets | 492,590 |  |  | 498,726 |  |
Deferred tax liabilities |  |  |  |
Valuation of investments | (9,612) |  |  | (473) |  |
Prepaid expenses | (29,799) |  |  | (3,829) |  |
Assets received in lieu of payment | (676) |  |  | - |  |
Derivatives | (94,003) |  |  | (127,080) |  |
Lease obligations | (16,903) |  |  | (27,433) |  |
Exchange rate adjustments | (6,093) |  |  | (5,384) |  |
Other | (14,063) |  |  | (427) |  |
Total deferred tax liabilities | (171,149) |  |  | (164,626) |  |
Schedule of Deferred Tax Assets and Liabilities | Below is a summary of the deferred taxes impact on equity and income:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Deferred tax assets |  |  |  |
Recognised through other comprehensive income | 40,164 |  |  | 54,749 |  |
Recognised through profit or loss | 492,590 |  |  | 498,726 |  |
Total deferred tax assets | 532,754 |  |  | 553,475 |  |
Deferred tax liabilities |  |  |  |
Recognised through other comprehensive income | (1,025) |  |  | (53,310) |  |
Recognised through profit or loss | (171,149) |  |  | (164,626) |  |
Total deferred tax liabilities | (172,174) |  |  | (217,936) |  |
Summary of the Deferred Taxes and Current Taxes in Financial Statements | Below is a summary of the deferred taxes and current taxes in financial statements :
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Deferred taxes |  |  |  |
Deferred tax assets before reclassifying | 532,754 |  |  | 553,475 |  |
Reclassifying (netting) | (171,498) |  |  | (214,389) |  |
Deferred tax asset after reclassifying | 361,256 |  |  | 339,086 |  |
Deferred tax liabilities before reclassifying | (172,174) |  |  | (217,936) |  |
Reclassifying (netting) | 171,498 |  |  | 214,389 |  |
Deferred tax liabilities after reclassifying | (676) |  |  | (3,547) |  |
Current taxes |  |  |  |
Current tax asset before reclassifying | 194,118 |  |  | 93,605 |  |
Reclassifying (netting) | (194,058) |  |  | (93,459) |  |
Current tax asset after reclassifying | 60 |  |  | 146 |  |
Current tax liabilities before reclassifying | (242,606) |  |  | (257,337) |  |
Reclassifying (netting) | 194,058 |  |  | 93,459 |  |
Current tax liabilities after reclassifying | (48,548) |  |  | (163,878) |  |

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