Itaú Corpbanca : Financial Report Summary, November 2021
December 10, 2021 at 08:46 pm EST
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Itaú Corpbanca and subsidiaries
As of and for the eleven-month periods ended November 30, 2021 and 2020
The financial information of Itaú Corpbanca as of and for the eleven-month periods ended November 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
Nov'21
Nov'20
Total loans
24.557.452
23.257.045
Total assets
37.816.692
35.932.865
Deposits and other demand liabilities
7.466.167
5.906.075
Time deposits and other time liabilities
10.238.047
11.769.417
Interbank borrowings
4.894.287
4.063.160
Debt instruments issued
6.705.437
6.209.255
Equity
3.319.590
2.432.906
Total equity attributable to equity holders of the Bank
3.245.611
2.358.248
Non-controlling interest
73.979
74.658
YTD CONSOLIDATED INCOME STATEMENT
With reclassification of financial hedges1
and impairment adjustment2
In Ch$ million
11M'21
11M'20
11M'21
11M'20
Net operating profit before provision for loan losses
1.213.616
1.058.370
1.093.083
1.040.661
Provisions for loan losses 3
(195.525)
(516.346)
(167.309)
(512.052)
Total operating expenses 4
(639.562)
(1.532.312)
(639.562)
(723.465)
Operating income
378.529
(990.288)
286.212
(194.856)
Income from investments in companies
829
776
829
776
Operating income before income taxes
379.358
(989.512)
287.041
(194.080)
Income taxes
(110.382)
90.145
(18.065)
69.014
Consolidated income for the period
268.976
(899.367)
268.976
(125.066)
Net income attributable to holders of the Bank
267.332
(885.786)
267.332
(121.762)
Non-controlling interest
1.644
(13.581)
1.644
(3.304)
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 10M'20.
3 - Includes Ch$34.5 billion of additional provisions established during the 11M period ended November 30, 2021 ($148.1 billion during the 11M period ended November 30, 2020).
4- Includes Ch$9,389 million of restructuring provision ‒associated to non-recurring expenses related to the optimization of the physical infrastructure in Chile‒, established in October 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 11 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2021 01:45:02 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.