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Investments in Associates and Other Companies | 12 Months Ended
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Dec. 31, 2024
Investments in Associates and Other Companies [Abstract] |
Investments in Associates and Other Companies | INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES Investments in associates and other companies are shown in the following table:
| Ownership interest As of December 31, |  | Carrying value As of December 31, |  | Profit and loss As of December 31, |
| 2024 % |  | 2023 % |  | 2022 % |  | 2024 MCh$ |  | 2023 MCh$ |  | 2022 MCh$ |  | 2024 MCh$ |  | 2023 MCh$ |  | 2022 MCh$ |
Redbanc S.A. (*) | 33.43 |  |  | 33.43 |  |  | 33.43 |  |  | 4,717 |  |  | 4,168 |  |  | 3,800 |  |  | 581 |  |  | 255 |  |  | 572 |  |
Transbank S.A. (*) | 25.00 |  |  | 25.00 |  |  | 25.00 |  |  | 37,355 |  |  | 32,736 |  |  | 27,732 |  |  | 4,638 |  |  | 5,007 |  |  | 6,508 |  |
Centro de Compensación Automatizado S.A. | 33.33 |  |  | 33.33 |  |  | 33.33 |  |  | 6,785 |  |  | 4,863 |  |  | 5,172 |  |  | 1,875 |  |  | 1,689 |  |  | 1,567 |  |
Sociedad Interbancaria de Depósito de Valores S.A. | 29.29 |  |  | 29.29 |  |  | 29.29 |  |  | 2,907 |  |  | 2,615 |  |  | 1,949 |  |  | 485 |  |  | 505 |  |  | 442 |  |
Cámara de Compensación de Alto Valor S.A. | 13.72 |  |  | 15.00 |  |  | 15.00 |  |  | 1,194 |  |  | 1,199 |  |  | 1,110 |  |  | 133 |  |  | 88 |  |  | 140 |  |
Administrador Financiero del Transantiago S.A. | 20.00 |  |  | 20.00 |  |  | 20.00 |  |  | 1,434 |  |  | 4,285 |  |  | 3,169 |  |  | 557 |  |  | 726 |  |  | 804 |  |
Servicios de Infraestructura de Mercado OTC S.A. | 12.48 |  |  | 12.48 |  |  | 12.48 |  |  | 1,925 |  |  | 1,824 |  |  | 1,682 |  |  | 152 |  |  | 134 |  |  | 109 |  |
Subtotal |  |  |  |  |  |  | 56,317 |  |  | 51,690 |  |  | 44,614 |  |  | 8,421 |  |  | 8,404 |  |  | 10,142 |  |
Shares or rights in other companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Exchanges |  |  |  |  |  |  | 3,451 |  |  | 3,575 |  |  | 1,964 |  |  | 109 |  |  | 349 |  |  | 168 |  |
Others |  |  |  |  |  |  | 17 |  |  | 19 |  |  | 8 |  |  | 3 |  |  | 10 |  |  | - |  |
Subtotal |  |  |  |  |  |  | 3,468 |  |  | 3,594 |  |  | 1,972 |  |  | 112 |  |  | 359 |  |  | 168 |  |
Result from sale of companies shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic companies |  |  |  |  |  |  |  |  |  |  |  |  | 1,903 |  |  | - |  |  | - |  |
Subtotal |  |  |  |  |  |  |  |  |  |  |  |  | 1,903 |  |  | - |  |  | - |  |
Total |  |  |  |  |  |  | 59,785 |  |  | 55,284 |  |  | 46,586 |  |  | 10,436 |  |  | 8,763 |  |  | 10,310 |  |
(*)In December 2022, the Bank reclassified its participation in Redbanc S.A. and Transbank S.A. as Investment in associates, after its prior decision to classify them as “Non-current assets held for sale and discontinued operations”, due to lack of buyers. See Note 1 v) and Note 39. a.Equity instruments at fair value through other comprehensive income As described in Note 1 g), the Bank has elected to measure equity instruments at FVOCI and thus present changes in the fair value in OCI. Those equity investment are considered “strategic investments”, are not held for trading and are not material. Dividends are recognised in the income statements under “Income from investments in associates and other companies”. The fair value of these equity investments is as follows:
| December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Stock exchange | 3,451 |  |  | 3,575 |  |
Others | 17 |  |  | 19 |  |
Total | 3,468 |  |  | 3,594 |  |
NOTE 09 - INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES, continued b.Summary of financial information of associates as of and for the years ended December 31, 2024, 2023 and 2022:
| As of December 31, |
| 2024 |  | 2023 |  | 2022 |
| Assets |  | Liabilities |  | Equity |  | Net income |  | Assets |  | Liabilities |  | Equity |  | Net income |  | Assets |  | Liabilities |  | Equity |  | Net income |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Redbanc S.A. | 29,404 |  | 15,293 |  | 12,372 |  | 1,739 |  | 27,330 |  | 14,862 |  | 11,712 |  | 756 |  | 30,518 |  | 19,150 |  | 9,657 |  | 1,711 |
Transbank S.A. | 1,503,575 |  | 1,354,156 |  | 137,956 |  | 11,463 |  | 1,409,045 |  | 1,278,102 |  | 111,143 |  | 19,800 |  | 14,982,071 |  | 13,872,786 |  | 848,977 |  | 260,308 |
Centro de Compensación Automatizado S.A. | 23,420 |  | 3,628 |  | 14,167 |  | 5,625 |  | 17,362 |  | 3,280 |  | 9,024 |  | 5,058 |  | 19,342 |  | 4,295 |  | 10,345 |  | 4,702 |
Sociedad Interbancaria de Depósito de Valores S.A. | 9,927 |  | 1 |  | 8,269 |  | 1,657 |  | 8,938 |  | 525 |  | 6,695 |  | 1,718 |  | 7,717 |  | 463 |  | 5,746 |  | 1,508 |
Cámara de Compensación de Alto Valor S.A. | 9,794 |  | 1,338 |  | 7,489 |  | 967 |  | 9,167 |  | 1,343 |  | 7,252 |  | 572 |  | 8,357 |  | 1004 |  | 6,423 |  | 930 |
Administrador Financiero del Transantiago S.A. | 57,628 |  | 47,677 |  | 7,164 |  | 2,787 |  | 67,582 |  | 47,241 |  | 16,725 |  | 3,616 |  | 60,738 |  | 40,113 |  | 16,604 |  | 4,021 |
Servicios de Infraestructura de Mercado OTC S.A. | 15,910 |  | 852 |  | 13,837 |  | 1,221 |  | 32,888 |  | 18,578 |  | 13,250 |  | 1060 |  | 16,631 |  | 3,418 |  | 13,210 |  | 3 |
Total | 1,649,658 |  | 1,422,945 |  | 201,254 |  | 25,459 |  | 1,572,312 |  | 1,363,931 |  | 175,801 |  | 32,580 |  | 15,125,374 |  | 13,941,229 |  | 910,962 |  | 273,183 |
c.Restrictions over the ability of associated companies to transfer funds to investors There are no significant restrictions regarding the capacity of associates to transfer funds, whether in cash dividends, refund of loans, or advance payments to the Bank. d.Activity with respect to investments in other companies in 2024, 2024 and 2023 is as follows:
| As of December 31, |
| 2024 |  | 2023 |  | 2022 |
| MCh$ |  | MCh$ |  | MCh$ |
Opening balance as of January 1, | 55,284 |  |  | 46,586 |  |  | 37,694 |  |
Acquisition of investments | - |  |  | - |  |  | - |  |
Sale of investments | (106) |  |  | - |  |  | - |  |
Participation in income | 8,421 |  |  | 8,404 |  |  | 10,310 |  |
Dividends received | (966) |  |  | (2,944) |  |  | 526 |  |
Other adjustments | (2,848) |  |  | 3,238 |  |  | (1,944) |  |
Closing balances as of December 31, | 59,785 |  |  | 55,284 |  |  | 46,586 |  |

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