Interim Consolidated Financial Statements
As of September 30, 2021 and December 31, 2020 and for the periods ended September 30, 2021 and 2020.
CONTENT
Interim Consolidated Statements of Financial Position Interim Consolidated Statements of Income
Interim Consolidated Statements of Other Comprehensive Income Interim Consolidated Statements of Changes in Equity
Interim Consolidated Statements of Cash Flows
Notes to the Interim Consolidated Financial Statements
TABLE OF CONTENTS
Interim Consolidated Financial Statements | |
Interim Consolidated Statements of Financial Position | 2 |
Interim Consolidated Statements of Income | 3 |
Interim Consolidated Statements of Other Comprehensive Income | 4 |
Interim Consolidated Statements of Changes in Equity | 5 |
Interim Consolidated Statements of Cash Flows | 6 |
Notes to the Interim Consolidated Financial Statements | |
NOTE 1 - GENERAL INFORMATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 8 |
NOTE 2 - ACCOUNTING CHANGES | 62 |
NOTE 3 - SIGNIFICANT EVENTS | 62 |
NOTE 4 - BUSINESS COMBINATION | 67 |
NOTE 5 - INFORMATION BY SEGMENTS | 71 |
NOTE 6 - CASH AND CASH EQUIVALENTS | 75 |
NOTE 7 - TRADING PORTFOLIO FINANCIAL ASSETS | 76 |
NOTE 8 - INVESTMENTS UNDER AGREEMENTS TO RESELL AND LIABILITIES UNDER AGREEMENTS TO | |
REPURCHASE | 77 |
NOTE 9 - DERIVATIVE FINANCIAL AGREEMENTS AND HEDGE ACCOUNTING | 79 |
NOTE 10 - LOANS AND RECEIVABLES FROM BANKS | 84 |
NOTE 11 - LOANS TO AND RECEIVABLES FROM CUSTOMERS | 85 |
NOTE 12 - FINANCIAL INVESTMENTS | 94 |
NOTE 13 - INVESTMENTS IN OTHER COMPANIES | 95 |
NOTE 14 - INTANGIBLE ASSETS | 96 |
NOTE 15 - PROPERTY, PLANT AND EQUIPMENT | 100 |
NOTE 16 - CURRENT AND DEFERRED INCOME TAX | 105 |
NOTE 17 - OTHER ASSETS | 110 |
NOTE 18 - DEPOSITS AND OTHER ON-DEMAND LIABILITES AND ON-DEMAND DEPOSITS | 111 |
NOTE 19 - BANK BORROWINGS | 112 |
NOTE 20 - DEBT SECURITIES ISSUED AND OTHER FINANCIAL LIABILITIES | 112 |
NOTE 21 -PROVISIONS | 119 |
NOTE 22 - OTHER LIABILITIES | 121 |
NOTE 23 - CONTINGENCIES AND COMMITMENTS | 121 |
NOTE 24 - SHAREHOLDERS' EQUITY | 126 |
NOTE 25 - INTEREST INCOME AND EXPENSES AND INDEXATION FOR INFLATION | 131 |
NOTE 26 - FEE AND COMMISSION INCOME AND EXPENSES | 132 |
NOTE 27 - GAIN OR LOSS FROM FINANCIAL OPERATIONS | 133 |
NOTE 28 - NET FOREIGN EXCHANGE GAIN OR LOSS | 133 |
NOTE 29 - PROVISIONS AND IMPAIRMENT FOR CREDIT RISK | 134 |
NOTE 30 - STAFF COSTS | 136 |
NOTE 31 - ADMINISTRATIVE EXPENSES | 136 |
NOTE 32 - DEPRECIATION, AMORTIZATION AND IMPAIRMENT | 137 |
NOTE 33 - OTHER OPERATING INCOME AND EXPENSES | 139 |
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES | 140 |
NOTE 35 - ASSETS AND LIABILITIES AT FAIR VALUE | 149 |
NOTE 36 - RISK MANAGEMENT | 153 |
NOTE 37 - MATURITIES OF ASSETS AND LIABILITIES | 194 |
NOTE 38 - FOREIGN CURRENCY | 196 |
NOTE 39 - SUBSEQUENT EVENTS | 197 |
1
BANCO DE CRÉDITO E INVERSIONES AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of September 30, 2021 and December 31, 2020
(In millions of Chilean pesos - MCh$)
As of September 30 | As of December 31 | ||
Note | 2021 | 2020 | |
MCh$ | MCh$ | ||
ASSETS | |||
Cash and deposits in banks | 6 | 3,545,494 | 4,597,867 |
Items in course of collection | 6 | 440,873 | 236,710 |
Securities held for trading | 7 | 740,959 | 1,147,279 |
Agreements to repurchase and securities lending | 8 | 194,813 | 190,248 |
Derivative financial agreements and hedge accounting | 9 | 5,904,752 | 5,451,897 |
Loans and receivables to banks, net | 10 | 493,888 | 356,669 |
Loans and receivables to customers, net | 11 | 37,894,431 | 34,718,681 |
Financial investments available for sale | 12 | 11,921,260 | 7,996,040 |
Financial investments held to maturity | 12 | 851,661 | 25,144 |
Investments in other companies | 13 | 30,074 | 26,625 |
Intangible assets | 14 | 414,869 | 395,276 |
Property, plant and equipment, net | 15 | 248,084 | 251,217 |
Right-of-use asset | 15 | 188,262 | 204,807 |
Current income tax | 16 | 62,327 | 36,270 |
Deferred income taxes | 16 | 243,981 | 211,224 |
Other assets | 17 | 1,249,824 | 1,310,345 |
TOTAL ASSETS | 64,425,552 | 57,156,299 | |
LIABILITIES | |||
Deposits and other on-demand liabilities | 18 | 25,265,611 | 19,726,574 |
Items in course of collection | 6 | 357,384 | 201,438 |
Liabilities under agreements to repurchase | 8 | 367,556 | 350,314 |
Deposits and other term loans | 18 | 10,123,934 | 10,839,611 |
Derivative financial agreements and hedge accounting | 9 | 5,633,600 | 5,793,354 |
Bank borrowings | 19 | 6,840,114 | 6,270,699 |
Debt issued | 20 | 8,195,859 | 7,431,624 |
Other financial liabilities | 20 | 972,928 | 911,044 |
Lease liabilities | 15 | 172,569 | 186,293 |
Current income tax | 16 | 163,778 | 9,072 |
Deferred income taxes | 16 | 1,018 | 22,188 |
Provisions | 21 | 639,789 | 441,577 |
Other liabilities | 22 | 1,338,462 | 1,077,806 |
TOTAL LIABILITIES | 60,072,602 | 53,261,594 | |
SHAREHOLDERS' EQUITY | |||
Attributable to equity holders of the Bank: | |||
Capital | 3,862,386 | 3,655,828 | |
Reserves | 109 | 109 | |
Accumulated other comprehensive income | 216,189 | 22,223 | |
Retained earnings: | |||
Net income from prior periods | - | (6,758) | |
Profit or loss for the year | 24 | 389,772 | 317,454 |
Less: Accrual for minimum dividends | 24 | (116,932) | (95,236) |
TOTAL EQUITY OF EQUITY HOLDERS OF THE BANK | 4,351,524 | 3,893,620 | |
Non-controlling interest | 1,426 | 1,085 | |
TOTAL SHAREHOLDERS' EQUITY | 4,352,950 | 3,894,705 | |
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | 64,425,552 | 57,156,299 |
The accompanying notes No. 1 to No. 39 are an integral part of the interim consolidated financial statements.
2
BANCO DE CRÉDITO E INVERSIONES AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF INCOME
For the periods ended September 30, 2021 and 2020
(In millions of Chilean pesos - MCh$)
As of September 30 | |||
Note | 2021 | 2020 | |
MCh$ | MCh$ | ||
Interest income | 25 | 1,594,008 | 1,535,108 |
Interest expense | 25 | (452,803) | (467,901) |
Net interest income | 1,141,205 | 1,067,207 | |
Fee and commission income | 26 | 346,187 | 331,856 |
Fee and commission expense | 26 | (92,978) | (72,048) |
Net fee and commission income | 253,209 | 259,808 | |
Net gain from financial operations | 27 | 95,917 | 172,494 |
Foreign exchange gain (loss), net | 28 | 20,398 | (4,578) |
Other operating income | 33 | 37,285 | 34,084 |
Operating income | 1,548,014 | 1,529,015 | |
Provisions for loan losses | 29 | (248,412) | (492,833) |
OPERATING INCOME, NET OF ALLOWANCE FOR CREDIT RISK | 1,299,602 | 1,036,182 | |
Staff costs | 30 | (395,933) | (373,344) |
Administrative expenses | 31 | (233,918) | (238,061) |
Depreciation and amortization | 32 | (79,262) | (81,828) |
Impairment of property, plant and equipment and intangible assets | 32 | (23) | (142) |
Other operating expenses | 33 | (47,969) | (41,852) |
TOTAL OPERATING EXPENSES | (757,105) | (735,227) | |
TOTAL NET OPERATING INCOME | 542,497 | 300,955 | |
Share of profit (loss) of investments accounted for using the equity method | 13 | (380) | 873 |
Profit before tax | 542,117 | 301,828 | |
Income tax expense | 16 | (152,224) | (77,671) |
Net income from continuing operations | 389,893 | 224,157 | |
Net income from discontinued operations | - | - | |
CONSOLIDATED PROFIT FOR THE PERIOD | 389,893 | 224,157 | |
Attributable to: | |||
Equity holders of the Bank | 389,772 | 224,099 | |
Non-controlling interest | 121 | 58 | |
Total | 389,893 | 224,157 | |
Earnings per share: | |||
(stated in Ch$) | |||
Basic earnings per share | Ch$ 2,620 | Ch$ 1,506 | |
Diluted earnings per share | Ch$ 2,620 | Ch$ 1,506 |
The accompanying notes No. 1 to No. 39 are an integral part of the interim consolidated financial statements.
3
BANCO DE CRÉDITO E INVERSIONES AND SUBSIDIARIES
INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME
For the periods ended September 30, 2021 and 2020
(In millions of Chilean pesos - MCh$)
As of September 30 | |||
Note | 2021 | 2020 | |
MCh$ | MCh$ | ||
CONSOLIDATED PROFIT FOR THE PERIOD | 389,893 | 224,157 | |
OTHER COMPREHENSIVE INCOME THAT MAY BE RECLASSIFIED | |||
TO THE STATEMENT OF INCOME | |||
Net (gain) loss resulting on revaluation of financial investments available for sale | (311,980) | 3,154 | |
Loss (gain) on cash flow hedge derivatives | 364,698 | (41,525) | |
Loss -cumulative translation adjustment | 223,734 | 52,840 | |
Other comprehensive income, net of tax | 276,452 | 14,469 | |
Income tax on other comprehensive income | 16 | (82,486) | 11,709 |
Total other comprehensive income that may be reclassified to the | |||
statements of income for the period | 193,966 | 26,178 | |
OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED | |||
TO THE STATEMENT OF INCOME | 220 | (32) | |
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME | 194,186 | 26,146 | |
CONSOLIDATED TOTAL COMPREHENSIVE INCOME FOR THE | |||
PERIOD | 584,079 | 250,303 | |
Attributable to: | |||
Equity holders of the Bank | 583,958 | 250,277 | |
Non-controlling interest | 121 | 26 | |
Comprehensive income per share attributable to equity holders of the Bank: | |||
Basic comprehensive income per share | Ch$ 3,925 | Ch$ 1,682 | |
Diluted comprehensive income per share | Ch$ 3,925 | Ch$ 1,682 |
The accompanying notes No. 1 to No. 39 are an integral part of the interim consolidated financial statements.
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Bci - Banco de Credito e Inversiones SA published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 14:11:03 UTC.