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Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of risk management strategy related to hedge accounting [abstract] |
Schedule of High, Low and Average Levels | High, low and average levels for each component for 2024 and 2023 were as follows:
VaR | 2024 USD millions |  | 2023 USD millions |
Consolidated |  |  |  |
High | 4.06 |  |  | 6.81 |  |
Low | 1.47 |  |  | 2.61 |  |
Average | 2.40 |  |  | 4.09 |  |
Fixed-income investments |  |  |  |
High | 3.33 |  |  | 5.06 |  |
Low | 1.41 |  |  | 2.11 |  |
Average | 2.23 |  |  | 3.15 |  |
Variable-income investments |  |  |  |
High | - |  |  | - |  |
Low | - |  |  | - |  |
Average | - |  |  | - |  |
Foreign currency investments |  |  |  |
High | 3.93 |  |  | 5.79 |  |
Low | 0.18 |  |  | 0.23 |  |
Average | 1.55 |  |  | 2.20 |  |
Schedule of Market Risk Financial Management Portfolio | Market risk – Financial management portfolio – December 31, 2024 and 2023
| 2024 |  | 2023 |
| Effect on financial income |  | Effect on capital |  | Effect on financial income |  | Effect on capital |
Financial management portfolio – local currency (MCh$) |  |  |  |  |  |  |  |
Loss limit | 138,957 |  |  | 373,566 |  |  | 124,904 |  |  | 353,718 |  |
High | 49,174 |  |  | 170,622 |  |  | 79,657 |  |  | 173,389 |  |
Low | 482 |  |  | 87,335 |  |  | 41,151 |  |  | 88,382 |  |
Average | 20,482 |  |  | 136,617 |  |  | 62,740 |  |  | 133,464 |  |
Financial management portfolio – foreign currency (USD millions) |  |  |  |  |  |  |  |
Loss limit | 178,937 |  |  | 198,819 |  |  | 157,400 |  |  | 174,889 |  |
High | 13,104 |  |  | 61,137 |  |  | 17,775 |  |  | 91,935 |  |
Low | 442 |  |  | 47,615 |  |  | 227 |  |  | 53,436 |  |
Average | 5,169 |  |  | 53,651 |  |  | 9,718 |  |  | 70,397 |  |
Financial management portfolio – consolidated (in MCh$) |  |  |  |  |  |  |  |
Loss limit | 138,957 |  |  | 373,566 |  |  | 124,904 |  |  | 353,718 |  |
High | 46,970 |  |  | 357,867 |  |  | 75,816 |  |  | 283,550 |  |
Low | — |  |  | 279,293 |  |  | 34,663 |  |  | 246,664 |  |
Average | 19,678 |  |  | 311,333 |  |  | 64,477 |  |  | 268,776 |  |
Schedule of Market Risk Exposure | The following table illustrates the exposure to market risk. The maximum exposure to long-term interest rate risk is 35% of the regulatory capital and is approved by the Board of Directors. The maximum exposure to short-term interest rate risk is 55% of net interest income and readjustments plus interest rate sensitive commissions:
| As of december 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Market risk – trading protfolio |  |
Exposure to rate risk | 459,161 |  |  | 371,203 |  |
Exposure to currency risk | 13,931 |  |  | 9,130 |  |
Interest rate option risk | - |  |  | - |  |
Currency option risk | 4,284 |  |  | 3,167 |  |
Total exposure of trading portfolio | 477,376 |  |  | 383,500 |  |
10% of RWA | 596,720 |  |  | 479,374 |  |
Subtotal | 1,074,096 |  |  | 862,874 |  |
Limit = Regulatory capital | 6,961,316 |  |  | 6,978,733 |  |
Available margin | 5,887,220 |  |  | 6,115,859 |  |
Market risk – short-term financial management portfolio |  |  |  |
Short Term Exposure to Interest Rate Risk | 95,219 |  |  | 97,410 |  |
Exposure to Inflation Risk | 149,306 |  |  | 161,222 |  |
Short-term exposure of financial management portfolio | 244,525 |  |  | 258,632 |  |
Limit = 35% net (net income from interest and readjustments + interest rates sensitive commissions) | 909,152 |  |  | 575,483 |  |
Available margin | 664,627 |  |  | 316,851 |  |
Market risk – long-term financial management portfolio |  |  |  |
Long Term Exposure to Interest Rate Risk | 697,405 |  |  | 1,057,637 |  |
Limit = 35% Regulatory capital | 2,436,461 |  |  | 2,442,556 |  |
Available margin | 1,739,056 |  |  | 1,384,919 |  |
Schedule of Quality Assets and its Related Provision | The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2024 and 2023:
December 31, 2024
Corporate loans
Corporate Portfolio | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total Corporate |  | Percentage |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total ECL Allowance (*) |  | Percentage
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | % |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | %
A1 | 29,920 |  |  | - |  |  | - |  |  | 29,920 |  |  | 0.07 | % |  | 1 |  |  | - |  |  | - |  |  | 1 |  |  | 0.00 | %
A2 | 656,322 |  |  | - |  |  | - |  |  | 656,322 |  |  | 1.59 | % |  | 314 |  |  | - |  |  | - |  |  | 314 |  |  | 0.03 | %
A3 | 2,264,646 |  |  | 53,680 |  |  | - |  |  | 2,318,326 |  |  | 5.61 | % |  | 1,901 |  |  | 307 |  |  | - |  |  | 2,208 |  |  | 0.19 | %
A4 | 2,487,497 |  |  | 36,047 |  |  | - |  |  | 2,523,544 |  |  | 6.11 | % |  | 3,567 |  |  | 268 |  |  | - |  |  | 3,835 |  |  | 0.32 | %
A5 | 2,749,203 |  |  | 41,239 |  |  | 777 |  |  | 2,791,219 |  |  | 6.75 | % |  | 6,645 |  |  | 1,046 |  |  | 63 |  |  | 7,754 |  |  | 0.65 | %
A6 | 2,121,986 |  |  | 90,538 |  |  | 158 |  |  | 2,212,682 |  |  | 5.35 | % |  | 9,236 |  |  | 2,849 |  |  | 41 |  |  | 12,126 |  |  | 1.02 | %
B1 | 613,063 |  |  | 192,023 |  |  | - |  |  | 805,086 |  |  | 1.95 | % |  | 4,458 |  |  | 9,526 |  |  | - |  |  | 13,984 |  |  | 1.17 | %
B2 | 19,332 |  |  | 134,107 |  |  | - |  |  | 153,439 |  |  | 0.37 | % |  | 143 |  |  | 7,416 |  |  | - |  |  | 7,559 |  |  | 0.63 | %
B3 | - |  |  | 136,901 |  |  | 2,500 |  |  | 139,401 |  |  | 0.34 | % |  | - |  |  | 7,545 |  |  | 696 |  |  | 8,241 |  |  | 0.69 | %
B4 | - |  |  | 65,613 |  |  | 33,129 |  |  | 98,742 |  |  | 0.24 | % |  | - |  |  | 3,598 |  |  | 7,725 |  |  | 11,323 |  |  | 0.95 | %
C1 | - |  |  | 29,632 |  |  | 185,235 |  |  | 214,867 |  |  | 0.52 | % |  | - |  |  | 2,771 |  |  | 60,382 |  |  | 63,153 |  |  | 5.30 | %
C2 | - |  |  | 23,450 |  |  | 112,479 |  |  | 135,929 |  |  | 0.33 | % |  | - |  |  | 1,052 |  |  | 27,208 |  |  | 28,260 |  |  | 2.37 | %
C3 | - |  |  | 1,785 |  |  | 66,545 |  |  | 68,330 |  |  | 0.17 | % |  | - |  |  | 237 |  |  | 28,343 |  |  | 28,580 |  |  | 2.40 | %
C4 | - |  |  | 1,600 |  |  | 132,213 |  |  | 133,813 |  |  | 0.32 | % |  | - |  |  | 105 |  |  | 59,724 |  |  | 59,829 |  |  | 5.02 | %
C5 | - |  |  | 1,710 |  |  | 97,139 |  |  | 98,849 |  |  | 0.24 | % |  | - |  |  | 302 |  |  | 67,170 |  |  | 67,472 |  |  | 5.66 | %
C6 | - |  |  | 4,139 |  |  | 129,079 |  |  | 133,218 |  |  | 0.32 | % |  | - |  |  | 300 |  |  | 105,471 |  |  | 105,771 |  |  | 8.87 | %
Subtotal | 10,941,969 |  |  | 812,464 |  |  | 759,254 |  |  | 12,513,687 |  |  | 30.28 | % |  | 26,265 |  |  | 37,322 |  |  | 356,823 |  |  | 420,410 |  |  | 35.25 | %
| Other loans
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total Other loans |  | Percentage |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total ECL Allowance |  | Percentage
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | % |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | %
Other Commercial | 4,321,411 |  |  | 527,752 |  |  | 489,587 |  |  | 5,338,750 |  |  | 12.92 | % |  | 47,042 |  |  | 34,834 |  |  | 183,118 |  |  | 264,994 |  |  | 22.22 | %
Mortgage | 14,762,656 |  |  | 1,944,932 |  |  | 852,181 |  |  | 17,559,769 |  |  | 42.49 | % |  | 10,347 |  |  | 60,330 |  |  | 155,693 |  |  | 226,370 |  |  | 18.98 | %
Consumer | 4,928,084 |  |  | 679,756 |  |  | 303,798 |  |  | 5,911,638 |  |  | 14.31 | % |  | 58,679 |  |  | 87,609 |  |  | 134,628 |  |  | 280,916 |  |  | 23.55 | %
Subtotal | 24,012,151 |  |  | 3,152,440 |  |  | 1,645,566 |  |  | 28,810,157 |  |  | 69.72 | % |  | 116,068 |  |  | 182,773 |  |  | 473,439 |  |  | 772,280 |  |  | 64.75 | %
Total | 34,954,120 |  |  | 3,964,904 |  |  | 2,404,820 |  |  | 41,323,844 |  |  | 100.00 | % |  | 142,333 |  |  | 220,095 |  |  | 830,262 |  |  | 1,192,690 |  |  | 100.00 | %
(*)Include MCh$165,935 of ECL allowance calculated on an Individual basis. NOTE 37 - RISK MANAGEMENT, continued
December 31, 2023
Corporate loans
Corporate Portfolio | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total Corporate |  | Percentage |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total ECL Allowance (*) |  | Percentage
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | % |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | %
A1 | 28,006 |  |  | - |  |  | - |  |  | 28,006 |  |  | 0.07 | % |  | 3 |  |  | - |  |  | - |  |  | 3 |  |  | 0.00 | %
A2 | 785,654 |  |  | - |  |  | - |  |  | 785,654 |  |  | 1.93 | % |  | 452 |  |  | - |  |  | - |  |  | 452 |  |  | 0.04 | %
A3 | 2,803,228 |  |  | 29,491 |  |  | - |  |  | 2,832,719 |  |  | 6.94 | % |  | 1,982 |  |  | 138 |  |  | - |  |  | 2,120 |  |  | 0.18 | %
A4 | 2,482,922 |  |  | 12,265 |  |  | - |  |  | 2,495,187 |  |  | 6.11 | % |  | 2,474 |  |  | 60 |  |  | - |  |  | 2,534 |  |  | 0.22 | %
A5 | 2,732,502 |  |  | 47,927 |  |  | 765 |  |  | 2,781,194 |  |  | 6.81 | % |  | 5,825 |  |  | 668 |  |  | 62 |  |  | 6,555 |  |  | 0.57 | %
A6 | 2,055,756 |  |  | 106,770 |  |  | - |  |  | 2,162,526 |  |  | 5.30 | % |  | 8,905 |  |  | 2,227 |  |  | - |  |  | 11,132 |  |  | 0.97 | %
B1 | 331,242 |  |  | 285,756 |  |  | 106 |  |  | 617,104 |  |  | 1.51 | % |  | 3,787 |  |  | 11,137 |  |  | 58 |  |  | 14,982 |  |  | 1.30 | %
B2 | 23,222 |  |  | 165,717 |  |  | 1,201 |  |  | 190,140 |  |  | 0.47 | % |  | 242 |  |  | 7,717 |  |  | 289 |  |  | 8,248 |  |  | 0.72 | %
B3 | - |  |  | 98,961 |  |  | 5,618 |  |  | 104,579 |  |  | 0.26 | % |  | - |  |  | 4,990 |  |  | 2,135 |  |  | 7,125 |  |  | 0.62 | %
B4 | - |  |  | 64,864 |  |  | 32,177 |  |  | 97,041 |  |  | 0.24 | % |  | - |  |  | 3,682 |  |  | 8,656 |  |  | 12,338 |  |  | 1.07 | %
C1 | - |  |  | 36,299 |  |  | 178,279 |  |  | 214,578 |  |  | 0.53 | % |  | - |  |  | 3,104 |  |  | 59,363 |  |  | 62,467 |  |  | 5.43 | %
C2 | - |  |  | 8,595 |  |  | 77,832 |  |  | 86,427 |  |  | 0.21 | % |  | - |  |  | 733 |  |  | 25,793 |  |  | 26,526 |  |  | 2.31 | %
C3 | - |  |  | 4,612 |  |  | 99,892 |  |  | 104,504 |  |  | 0.26 | % |  | - |  |  | 550 |  |  | 35,077 |  |  | 35,627 |  |  | 3.10 | %
C4 | - |  |  | 2,385 |  |  | 104,054 |  |  | 106,439 |  |  | 0.26 | % |  | - |  |  | 311 |  |  | 45,025 |  |  | 45,336 |  |  | 3.94 | %
C5 | - |  |  | 1,182 |  |  | 110,548 |  |  | 111,730 |  |  | 0.27 | % |  | - |  |  | 191 |  |  | 70,909 |  |  | 71,100 |  |  | 6.18 | %
C6 | - |  |  | 1,940 |  |  | 112,428 |  |  | 114,368 |  |  | 0.28 | % |  | - |  |  | 206 |  |  | 95,689 |  |  | 95,895 |  |  | 8.34 | %
Subtotal | 11,242,532 |  |  | 866,764 |  |  | 722,900 |  |  | 12,832,196 |  |  | 31.44 | % |  | 23,670 |  |  | 35,714 |  |  | 343,056 |  |  | 402,440 |  |  | 35.00 | %
| Other loans
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total other loans |  | Percentage |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total ECL Allowance |  | Percentage
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | % |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | %
Other Commercial | 4,375,334 |  |  | 486,303 |  |  | 446,264 |  |  | 5,307,901 |  |  | 13.01 | % |  | 37,913 |  |  | 31,921 |  |  | 187,322 |  |  | 257,156 |  |  | 22.36 | %
Mortgage | 14,635,723 |  |  | 1,713,185 |  |  | 724,531 |  |  | 17,073,439 |  |  | 41.83 | % |  | 8,651 |  |  | 53,371 |  |  | 154,111 |  |  | 216,133 |  |  | 18.79 | %
Consumer | 4,512,156 |  |  | 790,276 |  |  | 295,918 |  |  | 5,598,350 |  |  | 13.72 | % |  | 57,429 |  |  | 83,897 |  |  | 132,936 |  |  | 274,262 |  |  | 23.85 | %
Subtotal | 23,523,213 |  |  | 2,989,764 |  |  | 1,466,713 |  |  | 27,979,690 |  |  | 68.56 | % |  | 103,993 |  |  | 169,189 |  |  | 474,369 |  |  | 747,551 |  |  | 65.00 | %
Total | 34,765,745 |  |  | 3,856,528 |  |  | 2,189,613 |  |  | 40,811,886 |  |  | 100.00 | % |  | 127,663 |  |  | 204,903 |  |  | 817,425 |  |  | 1,149,991 |  |  | 100.00 | %
(*)Include MCh$155,903 of ECL allowance calculated on an Individual basis.
Schedule of Residual Maturity Over Measured that have not Expired |
Other commercial |  | Corporate loans
Mortgages |  | Other loans |  | Revolving (Credit cards) |  | SME |  | SME |  | Middle market |  | Corporate and Investment Banking
28.19 | % |  | 49.32 | % |  | 16.91 | % |  | 49.32 | % |  | 18.50 | % |  | 16.36 | % |  | Santander Group criteria
Other commercial |  | Corporate loans
Mortgages |  | Other loans |  | Revolving (Credit cards) |  | SME |  | SME |  | Middle market |  | Corporate and Investment Banking
17.61 | % |  | 30.53 | % |  | 12.28 | % |  | 30.53 | % |  | 14.20 | % |  | 15.41 | % |  | Santander Group criteria
The qualitative criteria are based on the existence of evidence that leads to an automatic classification of financial instruments in stage 2, mainly 30 days overdue and restructured. Thresholds of SICR are calibrated based on the average ECL of exposures that exceed materiality threshold for 30 days or more consecutive days or with a level of credit risk considered to be “significant”.
Other commercial |  | Corporate loans
Mortgages |  | Other loans |  | Revolving (Credit cards) |  | SME |  | SME |  | Middle market |  | Corporate and Investment Banking
Irregular portfolio > 30 days |  | Irregular portfolio > 30 days |  | Irregular portfolio > 30 days |  | Irregular portfolio > 30 days |  | Irregular portfolio > 30 days |  | Irregular portfolio > 30 days |  | Irregular portfolio > 30 days
Restructured marked for monitoring |  | Restructured marked for monitoring |  | Restructured marked for monitoring |  | Restructured marked for monitoring |  | Restructured marked for monitoring |  | Restructured marked for monitoring |  | Restructured marked for monitoring
|  |  |  |  |  |  |  | Clients considered to be substandard or in incompliance (pre-legal action) |  | Clients considered to be substandard or in incompliance (pre-legal action) |  | Clients considered to be substandard or in incompliance (pre-legal action)
Schedule of Allowance and Exposure at Default (Ead) of the Loans | The following table shows the allowance and assets before allowance of the loans that meet the conditions:
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Loans and account receivable | 382,737 |  |  | 347,477 |  |
Allowance for ECL – discounted cash flow methodology | 165,935 |  |  | 155,903 |  |
The estimation of the collective basis expected credit loss allowance considers qualitative and quantitative information that may affect changes in credit risk and the development of significant assumptions related to the probabilities of default and loss given default, related to forward looking information, multi-factor analysis such as type of portfolio or transaction and macroeconomic factors.
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Loans and account receivable (commercial, mortgage and consumer loans) | 40,941,107 |  |  | 40,464,409 |  |
Allowance for ECL – collective basis | 1,026,755 |  |  | 994,088 |  |
Schedule of Modified Loans | The following table shows modification that results in deregonition and therefore and new operations:
| As of December 31, 2024 |  | As of December 31, 2023 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Gross carrying amount | 34,954,120 |  | 3,964,904 |  | 2,404,820 |  | 41,323,844 |  | 34,765,745 |  | 3,856,528 |  | 2,189,613 |  | 40,811,886 |
Modified loans | - |  | 814,092 |  | 1,236,176 |  | 2,050,268 |  | - |  | 739,474 |  | 1,026,843 |  | 1,766,317 |
% | - |  |  | 20.53 | % |  | 51.40 | % |  | 4.96 | % |  | - |  | 19.17 | % |  | 46.90 | % |  | 4.33 | % |
ECL allowance | 142,333 |  | 220,095 |  | 830,262 |  | 1,192,690 |  | 127,663 |  | 204,903 |  | 817,425 |  | 1,149,991 |
Modified loans |  |  | 52,474 |  | 403,125 |  | 455,599 |  | - |  | 48,419 |  | 360,975 |  | 409,394 |
% | - |  | 23.84 | % |  | 48.55 | % |  | 38.20 | % |  | - |  |  | 23.63 | % |  | 44.16 | % |  | 35.60 | % |
Schedule of Macro Economical Forward | The annual growth forecasts for the most relevant macroeconomic variables for each of our scenarios mainly used during 2024 are the same used in 2023, and are as follows:
|  | Average estimates 2024 |
|  | Unfavorable scenario 2 |  | Unfavorable scenario 1 |  | Base scenario |  | Favorable scenario 1 |  | Favorable scenario 2 |
Chilean Central Bank interest rates |  | 0.85 | % |  | 2.32 | % |  | 4.25 | % |  | 6.18 | % |  | 7.65 | % |
Unemployment rate |  | 10.03 | % |  | 8.89 | % |  | 7.40 | % |  | 5.91 | % |  | 4.77 | % |
Housing Price growth |  | (1.02) | % |  | 0.62% |  | 2.78 | % |  | 4.94 | % |  | 6.59 | % |
GDP growth |  | (0.80) | % |  | 1.10 | % |  | 3.58 | % |  | 6.06 | % |  | 7.97 | % |
Consumer Price Index |  | 1.07 | % |  | 0.67 | % |  | 3.00 | % |  | 5.33 | % |  | 7.07 | % |
Schedule of Probabilities |
Local scenario |  | Global scenario
|  | Probability weighting |  |  |  | Probability weighting
Favorable scenario 2 |  | 10 | % |  | Favorable scenario 1 |  | 30 | %
Favorable scenario 1 |  | 15 | % |  | Base scenario |  | 40 | %
Base scenario |  | 50 | % |  | Unfavorable scenario 1 |  | 30 | %
Unfavorable scenario 1 |  | 15 | % |  |  |  |
Unfavorable scenario 2 |  | 10 | % |  |  |  |
Schedule of Allowance Sensibility | The ECL allowance sensibility to future macro-economic conditions is as follows:
| As of December 31,
| 2024 |  | 2023
| MCh$ |  | MCh$
Reported ECL allowance | 1,193,854 |  |  | 1,150,116 |
Gross carrying amount | 41,399,911 |  |  | 40,917,268 |
Reported ECL Coverage | 2.81 | % |  | 2.81 | %
ECL amount by scenarios |  |  |
Favorable scenarios 2 | 1,013,732 |  |  | 970,411 |
Favorable scenarios 1 | 1,082,296 |  |  | 1,032,708 |
Base scenarios | 1,158,397 |  |  | 1,104,368 |
Unfavorable scenarios 2 | 1,234,421 |  |  | 1,176,477 |
Unfavorable scenarios 2 | 1,284,831 |  |  | 1,224,340 |
Coverage ratio by scenarios |  |  |
Favorable scenarios 2 | 2.45 | % |  | 2.37 | %
Favorable scenarios 1 | 2.61 | % |  | 2.52 | %
Base scenarios | 2.80 | % |  | 2.70 | %
Unfavorable scenarios 2 | 2.98 | % |  | 2.88 | %
Unfavorable scenarios 2 | 3.10 | % |  | 2.99 | %
Schedule of Risk Concentration | The following table shows the risk concentration by industry, and by stage before ECL allowance of loans and account receivable from customers and Interbak loans at amortised cost:
| As of December 31,
| 2024 |  | 2023 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | Total |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | Total |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Commercial loans |  |  |  |  |  |  |  |
Agriculture and livestock | 427,626 |  |  | 67,010 |  |  | 81,628 |  |  | 576,264 |  |  | 478,676 |  |  | 70,687 |  |  | 74,110 |  |  | 623,473 |  |
Fruit cultivation | 404,013 |  |  | 93,737 |  |  | 114,766 |  |  | 612,516 |  |  | 444,600 |  |  | 107,445 |  |  | 94,564 |  |  | 646,609 |  |
Forest | 122,759 |  |  | 10,480 |  |  | 19,542 |  |  | 152,781 |  |  | 108,232 |  |  | 10,901 |  |  | 20,390 |  |  | 139,523 |  |
Fishing | 389,857 |  |  | 3,876 |  |  | 6,904 |  |  | 400,637 |  |  | 290,978 |  |  | 14,655 |  |  | 7,763 |  |  | 313,396 |  |
Mining | 454,735 |  |  | 5,817 |  |  | 6,595 |  |  | 467,147 |  |  | 228,565 |  |  | 5,578 |  |  | 7,656 |  |  | 241,799 |  |
Oil and natural gas | 11,040 |  |  | 277 |  |  | 208 |  |  | 11,525 |  |  | 3,146 |  |  | 199 |  |  | 191 |  |  | 3,536 |  |
Manufacturing Industry: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Food, beverages and tobacco | 296,297 |  |  | 25,383 |  |  | 19,684 |  |  | 341,364 |  |  | 301,193 |  |  | 15,366 |  |  | 25,278 |  |  | 341,837 |  |
Textile, leather and footwear | 64,297 |  |  | 6,236 |  |  | 9,262 |  |  | 79,795 |  |  | 64,068 |  |  | 5,679 |  |  | 7,345 |  |  | 77,092 |  |
Wood and furniture | 83,304 |  |  | 1,827 |  |  | 6,656 |  |  | 91,787 |  |  | 78,856 |  |  | 2,438 |  |  | 6,894 |  |  | 88,188 |  |
Cellulose, paper and printing | 51,886 |  |  | 7,925 |  |  | 4,773 |  |  | 64,584 |  |  | 61,702 |  |  | 9,035 |  |  | 4,995 |  |  | 75,732 |  |
Chemicals and petroleum derivatives | 129,701 |  |  | 1,415 |  |  | 1,223 |  |  | 132,339 |  |  | 108,011 |  |  | 3,187 |  |  | 1,306 |  |  | 112,504 |  |
Metallic, non-metallic, machinery, or other | 365,864 |  |  | 13,202 |  |  | 17,924 |  |  | 396,990 |  |  | 319,322 |  |  | 13,870 |  |  | 21,715 |  |  | 354,907 |  |
Other manufacturing industries | 214,957 |  |  | 11,143 |  |  | 21,523 |  |  | 247,623 |  |  | 194,742 |  |  | 19,248 |  |  | 19,392 |  |  | 233,382 |  |
Electricity, gas, and wáter | 747,969 |  |  | 52,240 |  |  | 5,025 |  |  | 805,234 |  |  | 910,813 |  |  | 10,497 |  |  | 5,032 |  |  | 926,342 |  |
Home building | 206,906 |  |  | 12,840 |  |  | 28,582 |  |  | 248,328 |  |  | 164,118 |  |  | 29,377 |  |  | 23,118 |  |  | 216,613 |  |
Non-residential construction | 512,234 |  |  | 20,843 |  |  | 29,644 |  |  | 562,721 |  |  | 472,579 |  |  | 28,395 |  |  | 48,231 |  |  | 549,205 |  |
Wholesale trade | 1,560,877 |  |  | 104,488 |  |  | 171,345 |  |  | 1,836,710 |  |  | 1,420,083 |  |  | 105,396 |  |  | 163,872 |  |  | 1,689,351 |  |
Retail trade, restaurants and hotels | 1,367,697 |  |  | 79,765 |  |  | 105,453 |  |  | 1,552,915 |  |  | 1,501,379 |  |  | 74,975 |  |  | 87,365 |  |  | 1,663,719 |  |
Transport and storage | 693,354 |  |  | 50,741 |  |  | 55,381 |  |  | 799,476 |  |  | 600,729 |  |  | 56,933 |  |  | 54,860 |  |  | 712,522 |  |
Telecommunications | 504,811 |  |  | 17,183 |  |  | 10,265 |  |  | 532,259 |  |  | 450,555 |  |  | 16,341 |  |  | 7,261 |  |  | 474,157 |  |
Financial services | 610,158 |  |  | 33,019 |  |  | 1,135 |  |  | 644,312 |  |  | 575,666 |  |  | 2,656 |  |  | 912 |  |  | 579,234 |  |
Real estate services | 2,010,898 |  |  | 205,007 |  |  | 153,315 |  |  | 2,369,220 |  |  | 2,237,404 |  |  | 231,680 |  |  | 154,694 |  |  | 2,623,778 |  |
Social services and other community services | 4,032,140 |  |  | 515,762 |  |  | 378,008 |  |  | 4,925,910 |  |  | 4,602,449 |  |  | 518,529 |  |  | 332,220 |  |  | 5,453,198 |  |
Subtotal | 15,263,380 |  |  | 1,340,216 |  |  | 1,248,841 |  |  | 17,852,437 |  |  | 15,617,866 |  |  | 1,353,067 |  |  | 1,169,164 |  |  | 18,140,097 |  |
Mortgage loans | 14,762,656 |  |  | 1,944,932 |  |  | 852,181 |  |  | 17,559,769 |  |  | 14,635,723 |  |  | 1,713,185 |  |  | 724,531 |  |  | 17,073,439 |  |
Consumer loans | 4,928,084 |  |  | 679,756 |  |  | 303,798 |  |  | 5,911,638 |  |  | 4,512,156 |  |  | 790,276 |  |  | 295,918 |  |  | 5,598,350 |  |
Total | 34,954,120 |  |  | 3,964,904 |  |  | 2,404,820 |  |  | 41,323,844 |  |  | 34,765,745 |  |  | 3,856,528 |  |  | 2,189,613 |  |  | 40,811,886 |  |
Schedule of Loans and Account Receivable from Customers and Interbak Loans | The following table shows past due information related to loans and account receivable from customers and Interbak loans at amortised cost, and related ECL allowance:
| As of December 31, 2024
| Gross carrying amount |  | ECL allowance |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Interbank loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 31,283 |  |  | - |  |  | - |  |  | 31,283 |  |  | 1 |  |  | - |  |  | - |  |  | 1 |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 15,183,222 |  |  | 1,150,507 |  |  | 363,076 |  |  | 16,696,805 |  |  | 68,684 |  |  | 51,797 |  |  | 114,622 |  |  | 235,103 |  |
1-30 days past due | 45,590 |  |  | 124,071 |  |  | 89,139 |  |  | 258,800 |  |  | 4,449 |  |  | 12,171 |  |  | 26,294 |  |  | 42,914 |  |
31-90 days past due | 3,285 |  |  | 65,549 |  |  | 97,072 |  |  | 165,906 |  |  | 173 |  |  | 8,166 |  |  | 27,564 |  |  | 35,903 |  |
Over 90 days past due | - |  |  | 89 |  |  | 699,554 |  |  | 699,643 |  |  | - |  |  | 22 |  |  | 371,461 |  |  | 371,483 |  |
Mortgage loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 14,746,681 |  |  | 1,385,985 |  |  | 234,901 |  |  | 16,367,567 |  |  | 7,403 |  |  | 30,391 |  |  | 28,974 |  |  | 66,768 |  |
1-30 days past due | 12,809 |  |  | 362,378 |  |  | 85,437 |  |  | 460,624 |  |  | 2,358 |  |  | 13,182 |  |  | 13,452 |  |  | 28,992 |  |
31-90 days past due | 3,166 |  |  | 196,569 |  |  | 140,323 |  |  | 340,058 |  |  | 586 |  |  | 16,757 |  |  | 22,938 |  |  | 40,281 |  |
Over 90 days past due | - |  |  | - |  |  | 391,520 |  |  | 391,520 |  |  | - |  |  | - |  |  | 90,329 |  |  | 90,329 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 4,903,711 |  |  | 455,722 |  |  | 69,745 |  |  | 5,429,178 |  |  | 52,683 |  |  | 34,770 |  |  | 29,390 |  |  | 116,843 |  |
1-30 days past due | 21,323 |  |  | 135,203 |  |  | 29,654 |  |  | 186,180 |  |  | 5,638 |  |  | 27,780 |  |  | 12,065 |  |  | 45,483 |  |
31-90 days past due | 3,050 |  |  | 88,115 |  |  | 81,657 |  |  | 172,822 |  |  | 358 |  |  | 24,865 |  |  | 35,037 |  |  | 60,260 |  |
Over 90 days past due | - |  |  | 716 |  |  | 122,742 |  |  | 123,458 |  |  | - |  |  | 194 |  |  | 58,136 |  |  | 58,330 |  |
Total | 34,954,120 |  |  | 3,964,904 |  |  | 2,404,820 |  |  | 41,323,844 |  |  | 142,333 |  |  | 220,095 |  |  | 830,262 |  |  | 1,192,690 |  |
| As of December 31, 2023
| Gross carrying amount |  | ECL allowance |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |  | Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Interbank loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 68,440 |  |  |  |  |  |  | 68,440 |  |  | 2 |  |  |  |  |  |  | 2 |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 15,505,706 |  |  | 1,181,694 |  |  | 362,298 |  |  | 17,049,698 |  |  | 58,096 |  |  | 49,896 |  |  | 119,514 |  |  | 227,506 |  |
1-30 days past due | 41,357 |  |  | 102,214 |  |  | 90,367 |  |  | 233,938 |  |  | 3,357 |  |  | 9,164 |  |  | 33,921 |  |  | 46,442 |  |
31-90 days past due | 2,363 |  |  | 69,159 |  |  | 166,427 |  |  | 237,949 |  |  | 128 |  |  | 8,575 |  |  | 57,548 |  |  | 66,251 |  |
Over 90 days past due | - |  |  | - |  |  | 550,072 |  |  | 550,072 |  |  | - |  |  | - |  |  | 319,395 |  |  | 319,395 |  |
Mortgage loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 14,612,117 |  |  | 1,285,324 |  |  | 222,874 |  |  | 16,120,315 |  |  | 8,224 |  |  | 34,149 |  |  | 39,964 |  |  | 82,337 |  |
1-30 days past due | 19,150 |  |  | 278,114 |  |  | 101,086 |  |  | 398,350 |  |  | 327 |  |  | 11,923 |  |  | 21,627 |  |  | 33,877 |  |
31-90 days past due | 4,456 |  |  | 149,747 |  |  | 192,972 |  |  | 347,175 |  |  | 100 |  |  | 7,299 |  |  | 37,612 |  |  | 45,011 |  |
Over 90 days past due | - |  |  | - |  |  | 207,599 |  |  | 207,599 |  |  | - |  |  | - |  |  | 54,908 |  |  | 54,908 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 4,492,189 |  |  | 561,846 |  |  | 61,444 |  |  | 5,115,479 |  |  | 54,038 |  |  | 32,294 |  |  | 26,654 |  |  | 112,986 |  |
1-30 days past due | 18,497 |  |  | 133,011 |  |  | 26,198 |  |  | 177,706 |  |  | 3,150 |  |  | 25,139 |  |  | 10,968 |  |  | 39,257 |  |
31-90 days past due | 1,470 |  |  | 95,419 |  |  | 94,189 |  |  | 191,078 |  |  | 241 |  |  | 26,464 |  |  | 39,259 |  |  | 65,964 |  |
Over 90 days past due | - |  |  | - |  |  | 114,087 |  |  | 114,087 |  |  | - |  |  | - |  |  | 56,055 |  |  | 56,055 |  |
Total | 34,765,745 |  |  | 3,856,528 |  |  | 2,189,613 |  |  | 40,811,886 |  |  | 127,663 |  |  | 204,903 |  |  | 817,425 |  |  | 1,149,991 |  |
Schedule of Financial Assets and Associated Collateral | The following table show the maximum exposure to credit risk by class of financial asset, associated collateral and the net exposure to credit risk:
| As of December 31,
| 2024 |  | 2023 |
| Maximum exposure to credit risk |  | Collateral |  | Net exposure |  | Associated ECL |  | Maximum exposure to credit risk |  | Collateral |  | Net exposure |  | Associated ECL |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Interbank loans | 31,283 |  |  | 11 |  |  | 31,272 |  |  | 1 |  |  | 68,440 |  |  | 3,677 |  |  | 64,763 |  |  | 2 |  |
Commercial loans | 17,821,154 |  |  | 10,014,312 |  |  | 7,806,842 |  |  | 685,403 |  |  | 18,071,657 |  |  | 9,893,336 |  |  | 8,178,321 |  |  | 659,594 |  |
Mortgage loans | 17,559,769 |  |  | 17,367,966 |  |  | 191,803 |  |  | 226,370 |  |  | 17,073,439 |  |  | 16,589,333 |  |  | 484,106 |  |  | 216,133 |  |
Consumer Loans | 5,911,638 |  |  | 558,906 |  |  | 5,352,732 |  |  | 280,916 |  |  | 5,598,350 |  |  | 586,050 |  |  | 5,012,300 |  |  | 274,262 |  |
Contingent loans exposure | 2,850,495 |  |  | 467,467 |  |  | 2,383,028 |  |  | 18,389 |  |  | 2,701,525 |  |  | 378,648 |  |  | 2,322,877 |  |  | 21,105 |  |
Total | 44,174,339 |  |  | 28,408,662 |  |  | 15,765,677 |  |  | 1,211,079 |  |  | 43,513,411 |  |  | 27,451,044 |  |  | 16,062,367 |  |  | 1,171,096 |  |
Schedule of Maximum Exposure to Credit Risk | For financial assets recognised in the Consolidated Statements of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution by financial asset and off-balance sheet commitments of the Bank’s maximum exposure to credit risk as of December 31, 2024 and 2023, without deduction of collateral, security interests or credit improvements received:
|  |  | As of December 31, |
|  |  | 2024 |  | 2023 |
| Note |  | MCh$ |  | MCh$ |
Deposits in banks | 4 |  | 2,695,560 |  |  | 2,723,282 |  |
Cash items in process of collection | 4 |  | 572,552 |  |  | 812,524 |  |
Financial assets for trading at FVTPL | 5 |  |  |  |  |
Financial derivative contracts |  |  | 12,309,770 |  |  | 10,119,486 |  |
Financial assets held for trading |  |  | 329,327 |  |  | 98,308 |  |
Financial assets at FVOCI | 6 |  |  |  |  |
Debt financial instruments |  |  | 2,687,485 |  |  | 4,536,025 |  |
Other financial instruments |  |  | 74,903 |  |  | 105,257 |  |
Financial derivative contracts for hedge accounting | 7 |  | 843,628 |  |  | 605,529 |  |
Financial assets at amortised cost | 8 |  |  |  |  |
Debt financial instruments |  |  | 5,176,005 |  |  | 8,176,895 |  |
Interbank loans |  |  | 31,282 |  |  | 68,438 |  |
Loans and account receivable at amortised cost / |  |  | 40,099,872 |  |  | 39,593,457 |  |
Off-balance commitments: |  |  |  |  |  |
Letters of credit issued |  |  | 308,407 |  |  | 262,496 |  |
Foreign letters of credit confirmed |  |  | 2,208,507 |  |  | 1,641,510 |  |
Performance guarantees |  |  | 10,352,459 |  |  | 9,490,141 |  |
Available credit lines |  |  | 365,932 |  |  | 494,104 |  |
Personal guarantees |  |  | 406 |  |  | 813 |  |
Other irrevocable credit commitments |  |  | 194,801 |  |  | 313,505 |  |
Total |  |  | 78,250,896 |  |  | 79,041,770 |  |
Schedule of Fair Value of Derivative Instruments | Below, our foreign exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1. As of December 31, 2024, considering fair value of derivative instruments.
Counterpart | Country |  | Classification |  | Derivative instruments (market adjusted) |  | Deposits |  | Loans |  | Financial Investments |  | Total Exposure |
|  | USD millions |
Santander Bank Hong Kong | Hong Kong |  | 2 |  | - |  |  | 1 |  |  | 7 |  |  | - |  |  | 8 |  |
Santander Bank Mexico | Mexico |  | 3 |  | 2 |  |  | - |  |  | - |  |  | - |  |  | 2 |  |
Santander Bank EEUU * | EEUU |  | 1 |  | 37 |  |  | 130 |  |  | - |  |  | - |  |  | 167 |  |
Santander UK PLC | UK |  | 1 |  | - |  |  | 2 |  |  | - |  |  | - |  |  | 2 |  |
*Includes BSCH SA New York and Santander Investment Securites Our exposure to Banco Santander Spain is as follows:
Counterpart | Country |  | Classification |  | Derivative instruments (market adjusted) |  | Deposits |  | Loans |  | Financial Investments |  | Total Exposure
Banco Santander España | Spain |  | 1 |  | 1 |  |  | 5 |  |  | - |  |  | - |  |  | 6 |
Schedule of Security Interests, Collateral, or Credit Improvements | Below is the detail of security interests, collateral, or credit improvements provided to the Bank as of December 31, 2024 and 2023:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Non-impaired financial assets |  |  |  |
Properties/mortgages | 27,463,548 |  |  | 29,279,845 |  |
Investments and others | 11,083,172 |  |  | 5,300,893 |  |
Impaired financial assets |  |  |  |
Properties/ mortgages | 3,162,938 |  |  | 2,444,084 |  |
Investments and others | 354,348 |  |  | 293,347 |  |
Total | 42,064,006 |  |  | 37,318,169 |  |
Schedule of Breakdown of Bank's Fixed Income by Levels | These assets are divided into three levels in accordance with Basel III standards, with Level 1 assets being the most liquid and Level 3 assets being the least liquid. Level 1 assets are bonds from Chilean Goverment entities, Central Bank bonds and United States Treasury bonds.
| As of December 31, |
ALAC | 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Level 1: cash and cash equivalent | 2,416,812 |  |  | 1,969,547 |  |
Level 2: fixed income | 7,241,318 |  |  | 6,072,282 |  |
Level 2: fixed income | 4,517 |  |  | 6,240 |  |
Total | 9,662,647 |  |  | 8,048,069 |  |
Schedule of Liquidity Coverage Ratio |
| As of December 31, |
Liquidity Coverage Ratio | 2024 |  | 2023 |
| % |  | % |
LCR | 191 |  |  | 212 |  |
Schedule of Net Stable Funding Ratio |
| As of December 31, |
Net Stable Funding Ratio | 2024 |  | 2023 |
| % |  | % |
NSFR | 106 |  |  | 106 |  |
Schedule of Breakdown by Maturity | In accordance with the provision of the BCCh, the liquidity position is measured and controlled through the difference between the cash outflows, related to liabilities and expense accounts, and cash inflows, which are related to asset and income accounts, for a certain term or time band, which is refered as term mismatch. The liquidity policy on an Adjusted Base was presented and approved by the Board of Banco Santander Chile. Term mismatches are calculated severally for local currency and foreign currency. Term mismatches will be made on the following time bands: -First time band: up to 7 days, inclusive -Second time band: from 8 days to 15 days, inclusive -Third time band: from 16 days to 30 days, inclusive -Fourth time band: from 31 days to 90 days, inclusive NOTE 37 - RISK MANAGEMENT, continued
| As of December 31, 2024
| Individual |  | Consolidated
| Up to 7 days |  | Up to 15 days |  | Up to 30 days |  | Up to 7 days |  | Up to 15 days |  | Up to 30 days |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Cash flow receivable (assets) and income | 2,471,457 |  | 1,642,561 |  | 1,834,873 |  | 2,468,737 |  | 1,642,561 |  | 1,834,873 |
Cash flow payable (liabilities) and expenses | 2,127,447 |  | 2,481,618 |  | 2,058,265 |  | 2,111,033 |  | 2,481,618 |  | 2,058,265 |
Mismatch | 344,010 |  | (839,057) |  | (223,392) |  | 357,704 |  | (839,057) |  | (223,392) |  |
Mismatch affected by limits |  |  |  |  | (718,439) |  |  |  |  |  | (704,745) |
Limits: |  |  |  |  |  |  |  |  |  |  |  |
1 time capital |  |  |  |  | 4,292,440 |  |  |  |  |  | 4,396,833 |
Margin available |  |  |  |  | 3,574,001 |  |  |  |  |  | 3,692,088 |
% used |  |  |  |  | 17 | % |  |  |  |  |  | 16 | % |
| As of December 31, 2023
| Individual |  | Consolidated
| Up to 7 days |  | Up to 15 days |  | Up to 30 days |  | Up to 7 days |  | Up to 15 days |  | Up to 30 days |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
Cash flow receivable (assets) and income | 2,298,917 |  | 1,113,501 |  | 1,112,052 |  | 2,296,445 |  | 1,113,501 |  | 1,112,052 |
Cash flow payable (liabilities) and expenses | 1,840,243 |  | 835,978 |  | 1,250,098 |  | 1,818,643 |  | 835,978 |  | 1,250,098 |
Mismatch | 458,674 |  | 277,523 |  | (138,046) |  | 477,802 |  | 277,523 |  | (138,046) |
Mismatch affected by limits |  |  |  |  | 598,151 |  |  |  |  |  | 617,279 |
Limits: |  |  |  |  |  |  |  |  |  |  |  |
1 time capital |  |  |  |  | 4,367,159 |  |  |  |  |  | 4,491,893 |
Margin available |  |  |  |  | 4,965,310 |  |  |  |  |  | 5,109,172 |
% used |  |  |  |  | 14 | % |  |  |  |  |  | 14 | % |
Schedule of Main Sources of Financing with Third Parties | The main sources of financing with third parties are the following:
| As of December 31, |
Main sources of financing | 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Deposits and other demand obligations | 14,260,609 |  |  | 13,537,826 |  |
Time deposits | 17,098,625 |  |  | 16,137,942 |  |
Bank obligations | 4,337,947 |  |  | 10,366,499 |  |
Debt instruments issued and regulatory capital | 10,737,354 |  |  | 10,423,704 |  |
Total | 46,434,535 |  |  | 50,465,971 |  |
Schedule of Net Losses from Operational Risks | Exposure to net loss, gross loss and recovery of gross loss due to operational risk event
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Expenses for the gross loss period due to operational risk events |  |  |  |
Internal fraud | 3,153 |  |  | 1,367 |  |
External fraud | 33,786 |  |  | 7,202 |  |
Labor Practices and Business Safety | 7,129 |  |  | 6,887 |  |
Clients, products and business practices | 809 |  |  | 950 |  |
Damage to physical assets | 347 |  |  | 267 |  |
Business interruption and system failures | 290 |  |  | 964 |  |
Process execution, delivery and management | 6,505 |  |  | 7,303 |  |
Subtotal | 52,019 |  |  | 24,940 |  |
Recoveries of expenses in the period due to operational risk events |  |  |  |
Internal fraud | (1,720) |  |  | - |  |
External fraud | (27,586) |  |  | (5,810) |  |
Labor Practices and Business Safety | (2,160) |  |  | (1,276) |  |
Clients, products and business practices | (250) |  |  | (189) |  |
Damage to physical assets | (2) |  |  | (12) |  |
Business interruption and system failures | (112) |  |  | (800) |  |
Process execution, delivery and management | (1,555) |  |  | (2,885) |  |
Subtotal | (33,385) |  |  | (10,972) |  |
Net loss from operational risk events | 18,634 |  |  | 13,968 |  |
Summary of the Changes to the Minimum Capital Requirements | Below is a summary of the changes to the minimum capital requirements:
| As of December 31,
Capital requirements | 2024 |  | 2023
| MCh$ |  | MCh$
Pillar II charge | — | % |  | — | %
Systemic Charge | 1.13 | % |  | 0.75 | %
Counter-cyclical Capital buffer | 0.50 | % |  | — | %
Capital Conservation buffer | 2.50 | % |  | 1.88 | %
Tier T2 | 2.00 | % |  | 2.00 | %
AT1 | 1.50 | % |  | 1.50 | %
CET1 | 4.50 | % |  | 4.50 | %
Total | 12.13 | % |  | 10.63 | %
Schedule of Total Assets, Risk-Weighted Assets, and Components of Effective Equity | Total assets, risk-weighted assets, and components of effective equity
|  | Total assets, risk-weighted assets and components of effective equity according to Basel III |  | Consolidated global 31-12-2024 MCh$ |  | Consolidated global 31-12-2023 MCh$ |
1 |  | Total assets according to the statement of financial position |  | 68,458,932 |  |  | 70,857,886 |  |
2 |  | Investment in subsidiaries that are not consolidated |  |  |  | - |  |
3 |  | Assets discounted from regulatory capital, other than item 2 |  | 13,243,643 |  |  | 10,823,906 |  |
4 |  | Credit equivalents |  | 3,402,423 |  |  | 3,446,909 |  |
5 |  | Contingent credits |  | 2,836,980 |  |  | 2,604,665 |  |
6 |  | Assets generated by the intermediation of financial instruments |  | 18,622 |  |  | 33,260 |  |
7 |  | = (1-2-3+4+5-6) Total assets for regulatory purposes |  | 61,436,070 |  |  | 66,052,294 |  |
8.a |  | Assets weighted for credit risk, estimated according to the standard methodology (RAW) |  | 29,921,944 |  |  | 30,333,749 |  |
8.b |  | Assets weighted for credit risk, estimated according to internal methodologies (AWCR) |  | - |  |  | - |  |
8 |  | Market Risk Weighted Assets (MRWA) |  | 5,967,201 |  |  | 4,793,740 |  |
10 |  | Operational Risk Weighted Assets (OPWA) |  | 4,923,679 |  |  | 4,424,739 |  |
11.a |  | = (8.a/8.b+9+10) Risk Weighted Assets (RWA) |  | 40,812,824 |  |  | 39,552,228 |  |
11.b |  | = (8.a/8.b+9+10) Risk-weighted assets, after applying the output floor (RWA) |  | 40,812,824 |  |  | 39,552,228 |  |
12 |  | Shareholders equity |  | 4,292,440 |  |  | 4,367,159 |  |
13 |  | Non-controlling interest |  | 104,394 |  |  | 124,735 |  |
14 |  | Goodwill |  | - |  |  | - |  |
15 |  | Excess minority investment |  | - |  |  | - |  |
16 |  | = (12+13-14-15) Common Equity Equivalent Tier 1 Capital (CET1) |  | 4,396,834 |  |  | 4,491,894 |  |
17 |  | Additional deductions to common equity tier 1, other than item 2 |  | 128,425 |  |  | 94,013 |  |
18 |  | = (16-17-2) Common Equity Tier 1 (CET1) |  | 4,268,409 |  |  | 4,397,881 |  |
19 |  | Voluntary (additional) provisions charged as additional capital tier 1 (AT1) |  | - |  |  | - |  |
20 |  | Subordinated bonds imputed as additional capital level 1 (AT1) |  | - |  |  | - |  |
21 |  | Preferred shares attributed to additional capital tier 1 (AT1) |  | - |  |  | - |  |
22 |  | Perpetual bonds attributed to additional capital level 1 (AT1) |  | 693,382 |  |  | 608,721 |  |
23 |  | Discounts applied to AT1 |  | - |  |  | - |  |
24 |  | = (19+20+21+22-23) Additional Tier 1 Capital (AT1) |  | 693,382 |  |  | 608,721 |  |
25 |  | = (18+24) Equity Tier 1 |  | 4,961,791 |  |  | 5,006,602 |  |
26 |  | Voluntary (additional) provisions allocated as Tier 2 (T2) capital |  | 293,000 |  |  | 293,000 |  |
27 |  | Subordinated bonds imputed as Tier 2 capital (T2) |  | 1,706,525 |  |  | 1,679,130 |  |
28 |  | = (26+27) Capital nivel 2 equivalente (T2) |  | 1,999,525 |  |  | 1,972,130 |  |
29 |  | Discounts applied to T2 |  | - |  |  | - |  |
30 |  | = (28-29) Tier 2 Capital (T2) |  | 1,999,525 |  |  | 1,972,130 |  |
31 |  | = (25+30) Effective equity |  | 6,961,316 |  |  | 6,978,732 |  |
32 |  | Additional basic capital required for the constitution of the conservation buffer |  | 1,020,321 |  |  | 741,604 |  |
33 |  | Additional basic capital required to set up the countercyclical buffer |  | 204,064 |  |  | - |  |
34 |  | Additional core capital required for banks rated as systemic |  | 459,144 |  |  | 296,642 |  |
35 |  | Additional capital required for the evaluation of the adequacy of effective capital (Pillar 2) |  | - |  |  | - |  |
Schedule of Solvency Indicators and Regulatory Compliance Indicators According to Basel III | Solvency indicators and regulatory compliance indicators according to Basel III
|  | Solvency indicators and regulatory compliance indicators according to Basel III |  | Consolidated global 31-12-2024 % |  | Consolidated global 31-12-2023 %
1 |  | Leverage indicator (T1_I18/T1_I7) |  | 6.95 | % |  | 6.66 | %
1.a |  | Leverage indicator that the bank must meet, considering the minimum requirements |  | 3.00 | % |  | 3.00 | %
2 |  | Basic capital indicator (T1_I18/T1_I11,b) |  | 10.46 | % |  | 11.12 | %
2.a |  | Basic capital indicator that the bank must meet, considering the minimum requirements |  | 6.13 | % |  | 5.25 | %
2.b |  | Capital buffer shortfall |  |  |  |
3 |  | Tier 1 capital indicator (T1_I25/T1_I11,b) |  | 12.16 | % |  | 12.66 | %
3.a |  | Tier 1 capital indicator that the bank must meet, considering the minimum requirements |  | 7.63 | % |  | 6.75 | %
4 |  | Effective equity indicators (T1_I31/T1_I11,b) |  | 17.06 | % |  | 17.64 | %
4.a |  | Effective equity indicator that the bank must meet, considering the minimum requirements |  | 9.63 | % |  | 8.75 | %
4.b |  | Effective equity indicator that the bank must meet, considering the charge for article 35 bis, if applicable |  | 8.00 | % |  | 8.00 | %
4.c |  | Effective equity indicator that the bank must meet, considering the minimum requirements, conservation buffer and anti-cyclical buffer |  | 12.13 | % |  | 10.63 | %
5 |  | Credit rating |  | A |  | A
|  | Regulatory compliance indicators for solvency |  |  |  |
6 |  | Voluntary (additional) provisions allocated to Tier 2 capital (T2) in relation to APRCs (T1_I26/ (T1_I8,a or I8,b) |  | 0.98 | % |  | 0.97 | %
7 |  | Subordinated bonds allocated to Tier 2 (T2) capital in relation to Tier 2 capital |  | 39.98 | % |  | 38.18 | %
8 |  | Additional Tier 1 capital (AT1) in relation to basic capital (T1_I24/T1_I18) |  | 16.24 | % |  | 13.84 | %
9 |  | Voluntary provisions (additional) and subordinated bonds that are charged to additional capital level 1 (AT1) in relation to the RWAs (T1_I19+T1_I20 / T1_I11,b) |  | 0.00 | % |  | 0.00 | %

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