Annual General Shareholders Meeting
Santiago, March 18th, 2021
Gabriel Moura
Chief Executive Officer
2020
About the year
2020: Macroeconomic outlook
Forecast 1
Actual
Macroeconomic
Forecast 1
Actual
Interest Rate 3
1.2% 3.3% 1.25%
-6.0% 3.0% 0.50%
1 ‒ Itaú Corpbanca initial forecast for 2020 on 03/02/2020; 2 ‒ GDP 2020 projected; 3 ‒ End of period.
Interest Rate 3
3.1% 3.3% 4.25%
Source: Central Bank of Chile, Central Bank of Colombia, Chilean Commission for the Financial Market (CMF) and Colombian Superintendency of Finance (SF).
-6.8% 1.6% 1.75%
About 2020
Recurring
Net Income
Consolidated
Chile
Ch$(79.4) billion
Ch$(50.3) billion
Revenues impacted by the pandemic
Recurring
Return on Tangible Equity (RoTE)
Cost control
Consolidated
Chile
-4.1 %11.7 p.p. -3.7 %12.5 p.p.
Cost of credit increased due to the pandemic
resulting in lower financial margin with the market and commissions
5.2%
(yoy in Chile)
consolidated costs decreased 0.7% yoy and significant progress was made in footprint optimization and headcount reduction
7.0%
(HC reduction yoy in Chile)
mainly driven by additional provisions due to possible COVID-19 impacts according to our expected loss provisioning model
Ch$136.3 bi
consolidated additional provision
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Itaú CorpBanca published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2021 15:19:05 UTC.