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    ITAUCORP   CL0002262351

ITAÚ CORPBANCA

(ITAUCORP)
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Itaú Corpbanca : Itaú Corpbanca Presentation to Investors

08/30/2021 | 03:32pm EDT

Presentation to

Investors

A u g u s t 2 0 2 1

i r . I t a u . c l

/ I t a ú C h i l e

/ i t a u c h i l e

@ i t a u c h i l e

Disclaimers

This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment, legal, tax or other advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this material are subject to change without notice and neither Itaú Corpbanca (the "Bank", "we," "our," "ours," and "us") nor any other person is under obligation to update or keep current the information contained herein. The information contained herein does not purport to be complete and is subject to qualifications and assumptions, and neither the Bank nor any agent can give any representations as to the accuracy thereof. The Bank and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material.

Certain statements in this presentation may be considered forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as "anticipate," "believe," "expect," "plan," "intend," "forecast," "target," "project," "may," "will," "should," "could," "estimate,"" predict" or similar words suggesting future outcomes or language suggesting an outlook. These forward-looking statements include, but are not limited to, anticipated future financial and operating performance and results, including estimates for growth, as well as risks and benefits of changes in the laws of the countries we operate. These statements are based on the current expectations of the Bank's management. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, (1) problems may arise from integrating the businesses of Banco Itaú Chile and Corpbanca and from the acquisition of the assets and liabilities of Itaú BBA Colombia S.A., Corporación Financiera, which may result in the combined company not operating as effectively and efficiently as expected; (2) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (3) the credit ratings of the combined company or its subsidiaries may be different from what the Bank or its controlling shareholders expect; (4) the industry may be subject to future regulatory or legislative actions that could adversely affect the Bank; and (5) the Bank may be adversely affected by changes in general economic, business, regulatory, political or other conditions in Chile, Colombia or Latin America, or in the global economy.

Forward-looking statements and information are based on current beliefs as well as assumptions made by and information currently available to the Bank's management. Although management considers these beliefs and assumptions to be reasonable based on information currently available to it, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Bank's control.

We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements. More information on potential factors that could affect Itaú Corpbanca's financial results is included from time to time in the "Risk Factors" section of Itaú Corpbanca's Annual Report on Form 20-F for the fiscal year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (the "SEC"). Furthermore, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties nor can the Bank assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Any forward-looking statement contained in this presentation speaks only as of the date hereof and Itaú Corpbanca does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement.

This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the U.S. Securities Act of 1933, as amended, or the applicable laws of other jurisdiction.

Financial data included in this Presentation has been prepared in accordance with Chilean accounting principles or Chilean Bank GAAP, issued by the he Chilean Commission for the Financial Market ("CMF"). As a consequence, the standards used to prepare the Bank's consolidated financial statements differ from the standards used to prepare the Bank's financial statements included in the Bank's Annual Report on Form 20-F filed with the SEC on April 23, 2021, the latter of which were prepared under International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB"). This presentation also includes non-Chilean Bank GAAP metrics such as Recurring Net Income and Recurring Return on Tangible Equity ("RoTE"). These metrics may not be comparable to similarly titled metrics used by other financial institutions. We believe the additional information is useful and meaningful to investors. The presentation of non-Chilean Bank GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with Chilean Bank GAAP.

The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material.

The Bank is an issuer in Chile of securities registered and regulated by the CMF. Shares of our common stock are traded on the Bolsa de Comercio de Santiago-Bolsa de Valores, or the Santiago Stock Exchange and the Bolsa Electrónica de Chile- Bolsa de Valores, or Electronic Stock Exchange, which we jointly refer to as the "Chilean Stock Exchanges," under the symbol "ItaúCORP." The Bank's American Depositary Shares are traded on the New York Stock Exchange under the symbol "ITCB." Accordingly, we are currently required to file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the CMF and provide copies of such reports and notices to the Chilean Stock Exchanges and the SEC. All such reports are available at www.cmf.cl, www.sec.govand ir.Itau.cl.

2

Agenda

Itaú Corpbanca at a Glance

Itaú Corpbanca Key Highlights

Key Financial Highlights

3

SECTION 1

Itaú Corpbanca at a Glance

Itaú Corpbanca at a Glance

Universal bank | Key part of Itaú Unibanco's internationalization strategy

Itaú Corpbanca represents 22% of Itaú Unibanco's consolidated loan portfolio8

Regional Footprint & Main Indicators1,2

Assets

US$ 39.2 bn

US$ 7.8 bn

US$ 47.0 bn

Loans

US$ 25.4 bn

US$ 5.8 bn

US$ 31.3 bn

Deposits

US$ 18.4 bn

US$ 4.6 bn

US$ 22.9 bn

Market Share

9.8%

3.6%

Headcount4

5,187

3,013

8,200

Branches5

189

108

297

Recurring Net Income

US$ 93 mm

US$3mm

US$ 97mm

2Q'216

Recurring RoTE 2Q'217

19.8%

2.5%

16.0%

Source: Itaú Corpbanca, CMF and Superintendencia Financiera de Colombia ("SFC")

5.

Branches for Chile include one branch in New York and for Colombia include one office in Panama

1.

Information as of June 30, 2021

6.

Quarter Recurring Net Income eliminates non-recurring events, including: Transaction costs, Goodwill impairment, Provisions,

2.

Figures were converted at an exchange rate CLP/USD 732.19

Other contingencies

5

3.

Calculated as the share of gross loans out of the total Chilean banking system loans as reported by the CMF

7.

Annualized figure. Tangible Equity: Shareholders equity net of goodwill, intangibles from business combination and related

4.

Headcount for Chile includes employees of the New York branch and for Colombia includes headcount of Itaú (Panama)

deferred tax liabilities

8.

Considering the consolidated loan portfolios of Itaú Unibanco and Itaú Corpbanca reported in their respective 2Q21 MD&As as of

June 30, 2021

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Itaú CorpBanca published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 19:31:02 UTC.


© Publicnow 2021
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Sales 2021 1 113 B 1 361 M 1 361 M
Net income 2021 199 B 244 M 244 M
Net Debt 2021 - - -
P/E ratio 2021 4,64x
Yield 2021 -
Capitalization 926 B 1 134 M 1 133 M
Capi. / Sales 2021 0,83x
Capi. / Sales 2022 0,72x
Nbr of Employees -
Free-Float 15,5%
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Technical analysis trends ITAÚ CORPBANCA
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 1,81 CLP
Average target price 2,43 CLP
Spread / Average Target 34,7%
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Managers and Directors
Gabriel Amado de Moura Chief Executive Officer
Rodrigo Luis Rosa Couto Chief Financial Officer
Jorge Andrés Saieh Guzmán Chairman
Eduardo Neves Director-Information Technology
Cristobal Ortega Soto Chief Compliance Officer
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