Itaú Corpbanca : Financial Report Summary, June 2021
July 09, 2021 at 10:30 pm EDT
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Itaú Corpbanca and subsidiaries
As of and for the six-month period ended June 30, 2021 and 2020
The financial information of Itaú Corpbanca as of and for the six-month period ended June 30, 2021 and 2020 has been published on our website in accordance with Circular No 18 of the Chilean Commission for the Financial Market (or "CMF") dated September 1st, 2008. The unaudited financial information included herein has been prepared in accordance with the Compendium of Accounting Standards issued by CMF pursuant to Chilean Generally Accepted Accounting Principles (Chilean GAAP), which conform with the international standards of accounting and financial reporting issued by the International Accounting Standards Board (IASB) to the extent that there are not specific instructions or regulations to the contrary issued by the CMF.
CONDENSED CONSOLIDATED BALANCE SHEET
In Ch$ million
Jun'21
Jun'20
Total loans
22,872,905
24,288,810
Total assets
34,402,380
38,969,389
Deposits and other demand liabilities
6,550,657
5,676,353
Time deposits and other time liabilities
10,269,825
12,558,879
Interbank borrowings
4,453,688
4,434,197
Debt instruments issued
6,335,525
6,686,772
Equity
2,366,968
2,611,840
Total equity attributable to equity holders of the Bank
2,297,933
2,530,802
Non-controlling interest
69,035
81,038
YTD CONSOLIDATED INCOME STATEMENT
With reclassification of financial hedges1
and impairment adjustment2
In Ch$ million
6M'21
6M'20
6M'21
6M'20
Net operating profit before provision for loan losses
609,106
629,171
592,731
557,537
Provisions for loan losses 3
(70,217)
(190,607)
(66,100)
(171,395)
Total operating expenses
(341,050)
(1,159,930)
(341,050)
(351,083)
Operating income
197,839
(721,366)
185,581
35,059
Income from investments in companies
723
1,555
723
1,555
Operating income before income taxes
198,562
(719,811)
186,304
36,614
Income taxes
(39,165)
(12,088)
(26,907)
5,788
Consolidated income for the period
159,397
(731,899)
159,397
42,402
Net income attributable to holders of the Bank
157,893
(722,416)
157,893
41,608
Non-controlling interest
1,504
(9,483)
1,504
794
1 - Includes the reclassification of foreign exchange gain or loss generated by hedge positions that neutralize the impacts of exchange rate variation on the fiscal value of our investments abroad and on our loan loss provisions associated with loans in foreign currency.
2 - For presentation purposes the partial impairment of the goodwill allocated to the Chilean CGU and the total impairment of the goodwill and intangible assets generated in the ITCB business combination allocated to the Colombian CGU in June 2020 have been adjusted in column 6M'20.
3 - Includes Ch$7.0 billion of additional provisions established during the 6M period ended June 30, 2021.
This financial information shall be considered provisional until the official figures are published by the Commission for the Financial Market.
Roxana Zamorano
Gabriel Moura
Chief Accounting Officer
Chief Executive Officer
1
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Itaú CorpBanca published this content on 10 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 July 2021 02:29:03 UTC.
Banco Itau Chile is a Chile-based financial institution (the Bank) engaged in the banking sector. The Bank operates in seven segments: Large, Corporate and Real Estate Companies, which includes companies that belong to major economic groups and specific industries; Companies, which includes leasing, factoring and other financial services for business customers; Traditional and Private Banking, which offers checking accounts, consumer loans, credit cards and mortgage loans; Lower Income Retail Banking, corresponding to operations of Banco Condell, which offers consumer loans, credit cards and mortgage loans; Treasury and International, which comprises treasury activities, such as financial management and funding; Non-Banking Financial Services, which provides services rendered by its subsidiaries, including insurance brokerage, financial advisory and securities brokerage, and Colombia, which includes commercial and retail banking services provided by CorpBanca Colombia and Helm Bank.