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Provisions and Contingent Provisions | 12 Months Ended
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Dec. 31, 2024
Provisions [abstract] |
Provisions and Contingent Provisions | PROVISIONS AND CONTINGENT PROVISIONS As of December 31, 2024 and 2023, the composition is as follows:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Provisions for personnel salaries and expenses | 73,543 |  |  | 81,907 |  |
Provisions for restructuring plans | 4,325 |  |  | – |  |
Provisions for lawsuits and litigations | 3,928 |  |  | 4,504 |  |
Provision for loyalty programmes | 38 |  |  | 38 |  |
Provision for operational risks | 5,108 |  |  | 2,993 |  |
Provision for other contingencies | 35,030 |  |  | 19,391 |  |
Provisions for mandatory dividends | 600,330 |  |  | 148,921 |  |
Provision for interest of perpetual bonds | 5,811 |  |  | 5,112 |  |
Provisions for contingent loan | 18,389 |  |  | 21,105 |  |
Total | 746,502 |  |  | 283,971 |  |
NOTE 19 - PROVISIONS AND CONTINGENT PROVISIONS, continued a.Below is the activity regarding provisions during the years ended December 31, 2024, 2023 and 2022:
| Personnel salaries and expenses |  | Restructuring plans |  | 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$ |  | MCh$ |
Balances as of January 1, 2024 | 81,907 |  |  | - |  |  | 4,504 |  |  | 38 |  |  | 2,993 |  |  | 19,391 |  |  | 148,921 |  |  | 5,112 |  |  | 21,105 |  |  | 283,971 |  |
Provisions established | 64,377 |  |  | 20,508 |  |  | 4,750 |  |  | - |  |  | 2,493 |  |  | 20,893 |  |  | 798,892 |  |  | 26,033 |  |  | 43,292 |  |  | 981,238 |  |
Application of provisions | (72,541) |  |  | (16,183) |  |  | (3,159) |  |  | - |  |  | (378) |  |  | (5,254) |  |  | (347,483) |  |  | (25,334) |  |  | - |  |  | (470,332) |  |
Provisions released | (200) |  |  | - |  |  | (2,252) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (46,688) |  |  | (49,140) |  |
Other | - |  |  | - |  |  | 85 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 680 |  |  | 765 |  |
Balances as of December 31, 2024 | 73,543 |  |  | 4,325 |  |  | 3,928 |  |  | 38 |  |  | 5,108 |  |  | 35,030 |  |  | 600,330 |  |  | 5,811 |  |  | 18,389 |  |  | 746,502 |  |
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 |  |
NOTE 19 - PROVISIONS AND CONTINGENT PROVISIONS, continued b.Provisions for personnel salaries and expenses includes:
| As of December 31, |
| 2024 |  | 2023 |
| MCh$ |  | MCh$ |
Provision for short-term benefits | 73,543 |  |  | 79,829 |  |
Provision for long-term benefits | – |  |  | 1,450 |  |
Provision for senioruty compensation | – |  |  | 585 |  |
Provision for other personnel benefits | – |  |  | 43 |  |
Total | 73,543 |  |  | 81,907 |  |
c.Provisions for contingent loan risk Provision for contingent loan arise from contingent liabilities and loan commitments. ECL allowance related to contingent loan are included in ECL allowance in the income statements for the year. The contingent portfolio is presented in Note 24. An analysis of changes in the corresponding ECL allowance as of December 31, 2024 and 2023 is as follows:
| December 31, 2024 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
ECL allowance at January 1, 2023 | 10,949 |  |  | 3,420 |  |  | 6,736 |  |  | 21,105 |  |
Transfer |  |  |  |  |  |  |  |
Transfers from stage 1 to stage 2 | (1,207) |  |  | 6,180 |  |  | - |  |  | 4,973 |  |
Transfers from stage 1 to stage 3 | (43) |  |  | - |  |  | 685 |  |  | 642 |  |
Transfers from stage 2 to stage 3 | - |  |  | (1,342) |  |  | 5,586 |  |  | 4,244 |  |
Transfers from stage 2 to stage 1 | 1,058 |  |  | (7,000) |  |  | - |  |  | (5,942) |  |
Transfers from stage 3 to stage 2 | - |  |  | 4,447 |  |  | (1,551) |  |  | 2,896 |  |
Transfers from stage 3 to stage 1 | - |  |  | - |  |  | - |  |  | - |  |
Net changes of the exposure and modifications in credit risk | (2,498) |  |  | (1,362) |  |  | (5,669) |  |  | (9,529) |  |
Write-off | - |  |  | - |  |  | - |  |  | - |  |
Other adjustments | - |  |  | - |  |  | - |  |  | - |  |
At December 31, 2024 | 8,259 |  |  | 4,343 |  |  | 5,787 |  |  | 18,389 |  |
| December 31, 2023 |
| Stage 1 |  | Stage 2 |  | Stage 3 |  | TOTAL |
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |
ECL allowance at January 1, 2022 | 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 |  |

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