72 issued by the Chilean Association of Accountants and Circular No. 1, issued by SVS, recognizing income on an accrual basis. 1, issued by the SVS, recognizing income on an accrual basis. Computer software has been valued as established in Circular No. for adjusting the acquisition CompaniesL shareholdersL equity at fair value, in accordance with Circular No of the SVS and Technical.

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Total Secured Residential Mortgage Loans. We are constantly striving to diversify our liability structure in terms of sources, types of instruments and markets with the aim of maintaining a competitive cost of funding and improving our liquidity. This new application combined with our already existing applications, MiBanco, MiPago, MiBeneficio, MiCuenta and MiSeguro, will allow our customers to complete various banking transactions through their mobile phones, cirvular paying bills, carrying out electronic money transfers xircular enrolling in and managing insurance policies offered by our insurance brokerage subsidiary.

circulad Duringthrough CrediChile, we held diverse on-site workshops attended by approximately 3, people throughout the country. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results circuular differ materially from those described in such forward-looking statements included in this annual report as a result of various factors including, without limitation, the actions of competitors, future global economic conditions, market conditions, foreign exchange rates and operating and financial risksmany of which are beyond our control.

Return on average equity 6. The Central Bank subordinated debt did not have a fixed maturity, and payments were made only to the extent that we earned income before provisions for the subordinated debt. Given the fierce competition in the banking industry, in order to take advantage of these sbs, we are continuously developing innovative products and services to diversify our revenue sources.


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Through our retail banking segment, we provide our individual customers with credit cards, installment loans and residential mortgage loans, as well as traditional deposit services, such as current accounts, demand deposits, demand accounts, savings accounts and time deposits.

In this regard, neither proprietary trading nor speculation on equity holdings are business goals for us and, therefore, equity instruments only represented 0.

Consequently, we have been focused on optimizing the profitability in this segment by enhancing our cross selling through the generation and enhancement of fee-based services, such as payroll processing, dividend payments and billing services, as well as computer banking services.

Risks Relating to our ADSs.

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Furniture, machinery and installations. Offer Statistics and Expected Timetable. In addition, the depositary will incur customary currency conversion costs to be borne by the holders of our ADSs in connection with the conversion and subsequent distribution of dividends or other payments. We were founded inand we have been, for much of our history, among circulqr largest and most profitable Chilean 167 in terms of return on average assets and average equity in Chile.

Depending on their specifications, svd cards can be used for banking transactions at ATMs that operate on the local network provided by Redbanc and the local network of merchants participating in the local Redcompra debit program.

Duringthe Chilean economy entered into a slowdown cycle, which affected investment and the growth of commercial loans.

Corporate reputation is a crucial competitive advantage for us, as it allows us to attract and retain customers, appeal to investors and avoid employee attrition. Transactions in the course of collection. In terms of credit risk, inloans related to Scs Hipotecariosas well as those financed with Mortgage Bondshad low gross before recoveries credit risk ratios of 0. DuringBanco CrediChile continued to enhance these service models in order to penetrate those segments by offering innovative banking solutions.


Thus, in spite of recording a moderate annual expansion of 3. Thus, we provide them with specific information and knowledge intended to improve their economic situation by promoting savings and avoiding over-borrowing. Because the specific contents and extent of the reform are unknown, and there circulra no certainty as to when and how this reform would go into effect, if approved, we cannot yet assess whether this reform would substantially affect our results of operations.

Treasury avs Money Market Operations. Business Center will also become our CRM system in the future. Principal Accountant Fees and Services. Accordingly, in we launched a new website for personal banking, which allows our customers to conduct most of the traditional banking corcular they would have normally executed at our branches. Accordingly, cybersecurity is a material risk for us. Our corporate affairs are governed by our estatutos bylaws and the laws of Chile.

In addition, we gave mass-market appeal to an online password-generating application for circula, called Mi Pass, which joined our already existing set of applications including MiBanco, MiCuenta, MiPago, MiBeneficio and MiSeguro.

During the Special Businesses Division focused on integrating its diverse units while outlining a comprehensive strategy intended to take advantage of opportunities that arise in the local market within the family office sub-segment. This annual report contains translations of certain Chilean peso amounts into U.

High levels of inflation in Chile could adversely affect the Chilean economy, consumer purchasing power, household consumption and investment in machinery and equipment and, therefore, the demand for financing and our business.

During we held diverse workshops with portions of our circulad and senior management in order to increase their sensitivity to this issue.