Exhibit 99.1

BANCO DE CHILE AND SUBSIDIARIES

(Free translation of Consolidated Financial Statements originally issued in Spanish)

INDEX

I.	Interim Consolidated Statements of Financial Position
II.	Interim Consolidated Statements of Income
III.	Interim Consolidated Statements of Other Comprehensive Income
IV.	Interim Consolidated Statements of Cash Flows
V.	Interim Consolidated Statements of Changes in Equity
VI.	Notes to the Interim Consolidated Financial Statements

MCh$	=	Millions of Chilean pesos
BCh$	=	Billions of Chilean pesos
MUS$	=	Millions of U.S. dollars
ThUS$	=	Thousands of U.S. dollars
UF or CLF	=	Unidad de Fomento
		(The UF is an inflation-indexed, Chilean peso denominated monetary unit set daily in advance on the basis of the previous month’s inflation rate).
Ch$ or CLP	=	Chilean pesos
US$ or USD	=	U.S. dollar
JPY	=	Japanese yen
EUR	=	Euro
HKD	=	Hong Kong dollar
CHF	=	Swiss Franc
PEN	=	Peruvian sol
AUD	=	Australian dollar
NOK	=	Norwegian krone
MXN	=	Mexican peso
IFRS	=	International Financial Reporting Standards
IAS	=	International Accounting Standards
RAN	=	Actualized Standards Compilation issued by the Chilean Commission for the Financial Market (“CMF”)
IFRIC	=	International Financial Reporting Interpretations Committee
SIC	=	Standards Interpretation Committee

BANCO DE CHILE AND SUBSIDIARIES

INDEX

	Page
Interim Consolidated Statements of Financial Position	1
Interim Consolidated Statements of Income	3
Interim Consolidated Statements of Other Comprehensive Income	5
Interim Consolidated Statements of Cash Flows	6
Interim Consolidated Statements of Change Equity	8
1. Company information:	9
2. Main Accounting Criteria Used:	10
3. New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted:	46
4. Accounting Changes:	49
5. Relevant Events:	50
6. Business Segments:	51
7. Cash and Cash Equivalents:	54
8. Financial Assets Held for Trading at Fair Value through Profit or Loss:	55
9. Non-trading Financial Assets mandatorily measured at Fair Value through Profit or Loss:	57
10. Financial Assets and Liabilities designated as at Fair Value through Profit or Loss:	57
11. Financial Assets at Fair Value through Other Comprehensive Income:	58
12. Derivative Financial Instruments for hedging purposes:	60
13. Financial assets at amortized cost:	63
14. Investments in other companies:	85
15. Intangible Assets:	87
16. Property and equipment:	88
17. Right-of-use assets and Lease liabilities:	89
18. Taxes:	92
19. Other Assets:	97
20. Non-current assets and disposal groups held for sale and Liabilities included in disposal groups for sale:	98
21. Financial liabilities held for trading at fair value through profit or loss:	99
22. Financial liabilities at amortized cost:	100
23. Financial instruments of regulatory capital issued:	106
24. Provisions for contingencies:	110
25. Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued:	115
26. Special provisions for credit risk:	116
27. Other Liabilities:	117
28. Equity:	118
29. Contingencies and Commitments:	123
30. Interest Revenue and Expenses:	128
31. UF indexation revenue and expenses:	130
32. Income and Expeses from commissions:	132
33. Net Financial income (expense):	133
34. Income attributable to investments in other companies:	134
35. Result from non-current assets and disposal groups held for sale not admissible as discontinued operations:	135
36. Other operating Income and Expenses:	136
37. Expenses from salaries and employee benefits:	137
38. Administrative expenses:	137
39. Depreciation and Amortization:	138
40. Impairment of non-financial assets:	138
41. Credit loss expense:	139
42. Income from discontinued operations:	141
43. Related Party Disclosures:	141
44. Fair Value of Financial Assets and Liabilities:	148
45. Maturity according to their remaining Terms of Financial Assets and Liabilities:	160
46. Financial and Non-Financial Assets and Liabilities by Currency:	162
47. Risk Management and Report:	163
48. Information on Regulatory Capital and Capital Adequacy Ratios:	204
49. Subsequent Events:	207

i

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

For the periods ended March 31, 2024 and December 31, 2023

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March		December
	Notes		2024		2023
			MCh$		MCh$
ASSETS
Cash and due from banks		7		3,248,501		2,464,648
Transactions in the course of collection		7		371,068		415,505
Financial assets held for trading at fair value through profit or loss:
Derivative financial instruments		8		2,526,743		2,035,376
Debt financial instruments		8		1,870,975		3,363,624
Others		8		280,862		409,328
Non-trading financial assets mandatorily measured at fair value through profit or loss		9		—		—
Financial assets at fair value through profit or loss		10		—		—
Financial assets at fair value through other comprehensive income:
Debt financial instruments		11		3,196,366		3,786,525
Others		11		—		—
Derivative financial instruments for hedging purposes		12		127,182		49,065
Financial assets at amortized cost:
Rights from resale agreements and securities lending		13		56,530		71,822
Debt financial instruments		13		4,071,555		1,431,083
Loans and advances to Banks		13		1,216,747		2,519,180
Loans to customers - Commercial loans		13		19,873,421		19,624,909
Loans to customers - Residential mortgage loans		13		12,454,420		12,269,148
Loans to customers - Consumer loans		13		4,974,734		4,937,679
Investments in other companies		14		77,703		76,994
Intangible assets		15		144,238		137,204
Property and equipment		16		197,908		201,657
Right-of-use assets		17		103,737		108,889
Current tax assets		18		240,148		141,194
Deferred tax assets		18		518,060		539,818
Other assets		19		1,214,999		1,186,013
Non-current assets and disposal groups held for sale		20		25,574		22,891
TOTAL ASSETS				56,791,471		55,792,552

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

1

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

For the periods ended March 31, 2024 and December 31, 2023

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			December
	Notes		2024			2023
			MCh$			MCh$
LIABILITIES
Transactions in the course of payment		7		296,700			356,871
Financial liabilities held for trading at fair value through profit or loss:
Derivative financial instruments		21		2,684,732			2,196,921
Others		21		3,765			2,305
Financial liabilities designated as at fair value through profit or loss		10		—			—
Derivative Financial Instruments for hedging purposes		12		78,674			160,602
Financial liabilities at amortized cost:
Current accounts and other demand deposits		22		13,539,960			13,321,660
Saving accounts and time deposits		22		15,632,789			15,365,562
Obligations by repurchase agreements and securities lending		22		185,126			157,173
Borrowings from financial institutions		22		5,625,691			5,360,715
Debt financial instruments issued		22		9,722,556			9,360,065
Other financial obligations		22		273,991			339,305
Lease liabilities		17		96,404			101,480
Financial instruments of regulatory capital issued		23		1,053,813			1,039,814
Provisions for contingencies		24		151,423			192,152
Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued		25		156,699			611,949
Special provisions for credit risk		26		776,536			769,147
Currents tax liabilities		18		524			808
Deferred tax liabilities		18		1,867			—
Other liabilities		27		1,335,314			1,218,738
Liabilities included in disposal groups held for sale		20		—			—
TOTAL LIABILITIES				51,616,564			50,555,267
EQUITY
Capital		28		2,420,538			2,420,538
Reserves		28		709,742			709,742
Accumulated other comprehensive income
Elements that are not reclassified in profit and loss		28		7,218			6,756
Elements that can be reclassified in profit and loss		28		17,674			17,486
Retained earnings from previous period		28		1,878,778			1,451,076
Income for the period		28		297,655			1,243,634
Less: Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued		28		(156,699	)		(611,949	)
Shareholders of the Bank		28		5,174,906			5,237,283
Non-controlling interests		28		1			2
TOTAL EQUITY				5,174,907			5,237,285
TOTAL LIABILITIES AND EQUITY				56,791,471			55,792,552

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

2

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2024			2023
			MCh$			MCh$
Interest revenue		30		800,766			773,145
Interest expense		30		(337,325	)		(405,228	)
Net interest income				463,441			367,917
UF indexation revenue		31		154,693			227,418
UF indexation expenses		31		(87,800	)		(141,287	)
Net income from UF indexation				66,893			86,131
Income from commissions		32		179,937			171,602
Expenses from commissions		32		(42,465	)		(34,687	)
Net income from commissions				137,472			136,915
Financial income (expense) for:
Financial assets and liabilities held for trading		33		(4,243	)		133,785
Non-trading financial assets mandatorily measured at fair value through profit or loss		33		—			—
Financial assets and liabilities designated as at fair value through profit or loss		33		—			—
Result from derecognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income		33		2,539			(117	)
Exchange, indexation and accounting hedging of foreign currency		33		106,447			(30,696	)
Reclassification of financial assets for changes in the business model		33		—			—
Other financial result		33		—			—
Net Financial income (expense)		33		104,743			102,972
Income attributable to investments in other companies		34		218			1,978
Result from non-current assets and disposal groups held for sale not admissible as discontinued operations		35		(1,013	)		(1,401	)
Other operating income		36		8,592			7,989
TOTAL OPERATING INCOME				780,346			702,501
Expenses from salaries and employee benefits		37		(141,410	)		(134,018	)
Administrative expenses		38		(109,223	)		(98,991	)
Depreciation and amortization		39		(23,402	)		(22,759	)
Impairment of non-financial assets		40		(94	)		29
Other operating expenses		36		(9,715	)		(7,703	)
TOTAL OPERATING EXPENSES				(283,844	)		(263,442	)
OPERATING RESULT BEFORE CREDIT LOSSES				496,502			439,059

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

3

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2024			2023
			MCh$			MCh$
Credit loss expense for:
Provisions for credit risk of loans and advances to banks and loans to customers		41		(118,806	)		(117,842	)
Special provisions for credit risk		41		(6,038	)		(694	)
Recovery of written-off credits		41		13,161			12,013
Impairments for credit risk from other financial assets at amortized cost and financial assets at fair value through other comprehensive income		41		(1,485	)		1,015
Credit loss expense		41		(113,168	)		(105,508	)
NET OPERATING INCOME				383,334			333,551
Income from continuing operations before tax				383,334			333,551
Income tax		18		(85,679	)		(67,600	)
Income from continuing operations after tax				297,655			265,951
Income from discontinued operations before tax				—			—
Income tax from discontinued operations		18		—			—
Income from discontinued operations after tax		42		—			—
NET INCOME FOR THE PERIOD		28		297,655			265,951
Attributable to:
Shareholders of the Bank		28		297,655			265,951
Non-controlling interests				—			—
Earnings per share:				$			$
Basic earnings		28		2.95			2.63
Diluted earnings		28		2.95			2.63

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

4

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2024			2023
			MCh$			MCh$
NET INCOME FOR THE PERIOD		28		297,655			265,951
ITEMS NOT TO BE RECLASSIFIED TO PROFIT OR LOSS
Re-measurement of the liability (asset) for net defined benefits and actuarial results for other employee benefit plans		28		115			(115	)
Fair value changes of equity instruments designated as at fair value through other comprehensive income		28		518			74
Fair value changes of financial liabilities designated as at fair value through profit or loss attributable to changes in the credit risk of the financial liability		28		—			—
Others		28		—			—
OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS BEFORE TAX				633			(41	)
Income tax on other comprehensive income that will not be reclassified to profit or loss		18		(171	)		11
TOTAL OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO INCOME AFTER TAXES		28		462			(30	)
ELEMENTS THAT CAN BE RECLASSIFIED TO PROFIT OR LOSS
Fair value changes of financial assets at fair value through other comprehensive income		28		6,440			16,791
Cash flow hedges		28		(5,247	)		56,304
Participation in other comprehensive income of entities registered under the equity method		28		7			(4	)
OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO INCOME BEFORE TAXES				1,200			73,091
Income tax on other comprehensive income that can be reclassified in profit or loss		28		(1,012	)		(17,775	)
TOTAL OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO PROFIT OR LOSS AFTER TAX		28		188			55,316
TOTAL OTHER COMPREHENSIVE INCOME FOR THE PERIOD		28		650			55,286
CONSOLIDATED COMPREHENSIVE INCOME FOR THE PERIOD				298,305			321,237
Attributable to:
Shareholders of the Bank				298,305			321,237
Non-controlling interests				—			—

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

5

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			March			March
	Notes		2024			2023
			MCh$			MCh$
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit for the year before taxes				383,334			333,551
Income tax		18		(85,679	)		(67,600	)
Profit for the period after taxes				297,655			265,951
Charges (credits) to income (loss) that do not represent cash flows:
Depreciation and amortization		39		23,402			22,759
Impairment of non-financial assets		40		94			(29	)
Provisions for credit losses				123,628			117,520
Provisions for contingencies		26		2,701			1
Additional provisions		41		—			—
Fair value of debt financial instruments held for trading at fair value through in profit or loss				(476	)		(995	)
Change in deferred tax assets and liabilities		18		21,025			5,549
Net (income) loss from investments in companies with significant influence		14		(189	)		(1,978	)
Net (income) loss on sale of assets received in payments				(266	)		(360	)
Net (income) loss on sale of sale of fixed assets		35		(88	)		187
Write-offs of assets received in payment		35		2,511			1,808
Other charges (credits) that do not represent cash flows				7,808			(29	)
Net change in exchange rates, interest, readjustments and commissions accrued on assets and liabilities				66,429			(59,925	)
Changes due to (increase) decrease in assets and liabilities affecting the operating flow:
Net ( increase ) decrease in accounts receivable from banks				1,302,631			577,551
Net ( increase ) decrease in loans and accounts receivables from customers				(529,190	)		(335,258	)
Net ( increase ) decrease of debt financial instruments held for trading at fair value through profit or loss				137,551			(325,115	)
Net ( increase ) decrease in other assets and liabilities				(222,838	)		(13,646	)
Increase ( decrease ) in deposits and other demand obligations				218,754			(230,791	)
Increase ( decrease ) in repurchase agreements and securities loans				32,349			(109,154	)
Increase ( decrease ) in deposits and other time deposits				272,266			608,542
Sale of assets received in lieu of payment				4,161			2,543
Increase ( decrease ) in  obligations with foreign banks				256,338			116,307
Increase ( decrease ) in other financial obligations				(65,302	)		(84,096	)
Increase ( decrease ) in obligations with the Central Bank of Chile				—			—
Net increase ( decrease ) of debt financial instruments at fair value through other comprehensive income				569,761			(1,030,542	)
Net (increase) decrease of financial instruments at amortized cost				(2,607,287	)		3,179
Total net cash flows provided by (used in) operating activities				(86,572	)		(470,021	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Leasedhold improvements		17		(558	)		(314	)
Fixed assets purchase		16		(4,050	)		(6,263	)
Fixed assets sale				292			40
Acquisition of intangibles		15		(15,592	)		(10,193	)
Acquisition of investments in companies		14		—			—
Dividend received of investments in companies				29			—
Total net cash flows from (used in) investing activities				(19,879	)		(16,730	)
CASH FLOW FROM FINANCING ACTIVITIES:
Attributable to the interest of the owners:
Redemption and payment of interest of letters of credit				(192	)		(399	)
Redemption and payment of interest on current bonds				(264,766	)		(183,963	)
Redemption and payment of interest on subordinated bonds				(3,008	)		(2,872	)
Current bonds issuance		22		314,872			242,190
Subordinated bonds issuance				—			—
Payment of common stock dividends		28		(815,932	)		(866,929	)
Principal and interest payments for obligations under lease contracts		17		(7,245	)		(8,842	)
Attributable to non-controlling interest:
Dividend payment and/or withdrawals of paid-in capital in respect of the subsidiaries corresponding to the non-controlling interest				—			—
Total net cash flows from (used in) financing activities				(776,271	)		(820,815	)
VARIATION IN CASH AND CASH EQUIVALENTS DURING THE PERIOD				(882,722	)		(1,307,566	)
Exchange variations effect				185,810			(120,153	)
Opening balance of cash and  cash equivalent		7		5,544,147			6,105,389
Final balance of cash and  cash equivalent		7		4,847,235			4,677,670

	March			March
	2024			2023
Interest operating cash flow:	MCh$			MCh$
Interest and readjustments received		874,343			826,139
Interest and readjustments paid		(282,370	)		(412,884	)

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

6

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

for the period between January 1, and March 31,

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

Reconciliation of liabilities arising from financing activities:

						Changes other than Cash
	12.31.2023		Net Cash Flow			Acquisition / (Disposals)		Foreign currency		UF Movement		03.31.2024
	MCh$		MCh$			MCh$		MCh$		MCh$		MCh$
Letters of credit		1,444		(192	)		—		—		11		1,263
Bonds		10,398,435		47,098			—		190,600		138,973		10,775,106
Dividends paid		—		(815,932	)		—		—		—		(815,932	)
Obligations for lease contracts		101,480		(7,245	)		834		—		1,335		96,404
Dividend payment and/or withdrawals of paid-in capital in respect of the subsidiaries corresponding to the non-controlling interest		—		—			—		—		—		—
Total liabilities from financing activities		10,501,359		(776,271	)		834		190,600		140,319		10,056,841

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

7

BANCO DE CHILE AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

for the period between January 1, and March 31, 2024 and 2023

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

			Attributable to shareholders of the Bank
	Note		Capital		Reserves		Accumulated other comprehensive income			Retained earnings from previous  years and income (loss) for the period			Total			Non-controlling interests			Total Equity
			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$
Opening balances as of January 1, 2023				2,420,538		709,742		(69,802	)		1,797,847			4,858,325			2			4,858,327
Dividends distributed and paid		28		—		—		—			(866,929	)		(866,929	)		—			(866,929	)
Application of provision for payment of common stock dividends				—		—		—			520,158			520,158			—			520,158
Provision for payment of common stock dividends		28		—		—		—			(130,002	)		(130,002	)		—			(130,002	)
Subtotal: transactions with owners during the period				—		—		—			(476,773	)		(476,773	)		—			(476,773	)
Income for the period 2023		28		—		—		—			265,951			265,951			—			265,951
Other comprehensive income for the period		28		—		—		55,286			—			55,286			—			55,286
Subtotal: Comprehensive income for the period				—		—		55,286			265,951			321,237			—			321,237
Balances as of March 31, 2023				2,420,538		709,742		(14,516	)		1,587,025			4,702,789			2			4,702,791
Dividends distributed and paid				—		—		—			—			—			(1	)		(1	)
Application of provision for payment of common stock dividends				—		—		—			—			—			—			—
Provision for payment of common stock dividends		28		—		—		—			(481,947	)		(481,947	)		—			(481,947	)
Subtotal: transactions with owners during the period				—		—		—			(481,947	)		(481,947	)		(1	)		(481,948	)
Income for the period 2023		28		—		—		—			977,683			977,683			1			977,684
Other comprehensive income for the period				—		—		38,758			—			38,758			—			38,758
Subtotal: Comprehensive income for the period				—		—		38,758			977,683			1,016,441			1			1,016,442
Balances as of December 30, 2023				2,420,538		709,742		24,242			2,082,761			5,237,283			2			5,237,285
Dividends distributed and paid		28		—		—		—			(815,932	)		(815,932	)		(1	)		(815,933	)
Application of provision for payment of common stock dividends		28		—		—		—			611,949			611,949			—			611,949
Provision for payment of common stock dividends		28		—		—		—			(156,699	)		(156,699	)		—			(156,699	)
Subtotal: transactions with owners during the period				—		—		—			(360,682	)		(360,682	)		(1	)		(360,683	)
Income for the period 2024		28		—		—		—			297,655			297,655			—			297,655
Other comprehensive income for the period		28		—		—		650			—			650			—			650
Subtotal: Comprehensive income for the period				—		—		650			297,655			298,305			—			298,305
Balances as of  March 31, 2024				2,420,538		709,742		24,892			2,019,734			5,174,906			1			5,174,907

The accompanying notes 1 to 49 are an integral part of these interim consolidated financial statements

8

BANCO DE CHILE AND SUBSIDIARIES

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

As of March 31, 2024 and 2023 and December 31, 2023

(Free translation of Interim Consolidated Financial Statements originally issued in Spanish)

1. Company information:

Banco de Chile is authorized to operate as a commercial bank since September 17, 1996, being, in conformity with the stipulations of article 25 of Law No. 19,396, the legal continuation of Banco de Chile resulting from the merger of the Banco Nacional de Chile, Banco Agrícola and Banco de Valparaiso, which was constituted by public deed dated October 28, 1893, granted before the Notary Public of Santiago, Mr. Eduardo Reyes Lavalle, authorized by Supreme Decree of November 28, 1893.

The Bank is a Corporation organized under the laws of the Republic of Chile, regulated by the Chilean Commission for the Financial Market (“CMF”). Since 2001, it is subject to the supervision of the Securities and Exchange Commission of the United States of America (“SEC”), in consideration of the fact that the Bank is registered on the New York Stock Exchange (“NYSE”), through a program of American Depositary Receipt (“ADR”).

Banco de Chile offers a broad range of banking services to its customers, ranging from individuals to large corporations. Additionally, the Bank offers international as well as treasury banking services, in addition to those offered by subsidiaries that include securities brokerage, mutual fund and investment management, insurance brokerage and financial advisory services.

Banco de Chile’s legal address is Ahumada 251, Santiago, Chile and its website is www.bancochile.cl.

9

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used:

(a) Legal Dispositions:

Decree Law No. 3,538 of 1980, according to the text replaced by the first article of Law No. 21,000 that “Creates the Commission for the Financial Market”, provides in numeral 6 of its article 5 that the Commission for the Market Financial (“CMF”) may “set the standards for the preparation and presentation of reports, balance sheets, statements of situation and other financial statements of the audited entities and determine the principles under which they must keep their accounting”.

According to the current legal framework, banks must use the accounting principles provided by the CMF and in everything that is not dealt with by it or in contravention of its instructions, they must adhere to the generally accepted accounting principles, which correspond to the technical standards issued by the College of Accountants of Chile AG, coinciding with the International Financial Reporting Standards (“IFRS”) agreed by the International Accounting Standards Board (“IASB”). If there are discrepancies between these accounting principles of general acceptance and the accounting criteria issued by the CMF, the latter shall prevail.

The notes to the Interim Consolidated Financial Statements contain additional information to that presented in the Interim Consolidated Statement of Financial Position, Interim Consolidated Statement of Income, Interim Consolidated Statement of Other Comprehensive Income, Interim Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows. They provide narrative descriptions or disaggregation of such statements in a clear, relevant, reliable and comparable way.

(b) Basis of Consolidation:

The Interim Financial Statements of Banco de Chile as of March 31, 2024 and 2023, have been consolidated with its Chilean subsidiaries and foreign subsidiary, using the global integration method (line-by-line). They include preparation of individual Financial Statements of the Bank and companies that participate in the consolidation and it include adjustments and reclassifications necessary to homologue accounting policies and valuation criteria applied by the Bank. The Interim Consolidated Financial Statements have been prepared using the same accounting policies for similar transactions and other events, in equivalent circumstances.

Significant intercompany transactions and balances (assets and liabilities, equity, income, expenses and cash flows) originated in operations performed between the Bank and its subsidiaries and between subsidiaries have been eliminated in the consolidation process. The non-controlling interest corresponding to the participation percentage of third parties in subsidiaries, which the Bank does not own directly or indirectly, has been recognized and is shown separately in the consolidated shareholders’ equity of Banco de Chile.

10

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

− Controlled companies (Subsidiaries):

Interim Consolidated Financial Statements as of March 31, 2024 and 2023 incorporate Financial Statements of the Bank and the controlled companies (subsidiaries) in accordance with IFRS 10 “Consolidated Financial Statements”.

The entities controlled by the Bank and which form parts of the consolidation are detailed as follows:

				Interest Owned
				Directa				Indirect				Total
			Functional	March		December		March		December		March		December
Rut	Entity	Country	Currency	2024		2023		2024		2023		2024		2023
				%		%		%		%		%		%
96,767,630-6	Banchile Administradora General de Fondos S.A.	Chile	Ch$		99.98		99.98		0.02		0.02		100.00		100.00
96,543,250-7	Banchile Asesoría Financiera S.A.	Chile	Ch$		99.96		99.96		—		—		99.96		99.96
77,191,070-K	Banchile Corredores de Seguros Ltda.	Chile	Ch$		99.83		99.83		0.17		0.17		100.00		100.00
96,571,220-8	Banchile Corredores de Bolsa S.A.	Chile	Ch$		99.70		99.70		0.30		0.30		100.00		100.00
96,645,790-2	Socofin S.A.	Chile	Ch$		99.00		99.00		1.00		1.00		100.00		100.00

− Investments in associates and joint venture:

Associated entities are those over which the Bank has the capacity to exercise significant influence, without having control over the associate.

Investments in associates where exists significant influence, are accounted for using the equity method (Note No. 14).

Joint Ventures are joint arrangements whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Joint control exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

Investments defined as a “Joint Venture” will be registered according to the equity method.

Investments in other companies that, for their characteristics, are defined as “Joint Ventures” are Artikos Chile S.A. and Servipag Ltda.

− Minority investments in other companies:

On initial recognition, the Bank and subsidiaries may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is not held for trading and is not contingent consideration recognized by an acquirer in a business combination to which IFRS 3 applies.

11

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

− Fund administration:

The Bank and its subsidiaries manage and administer assets held in mutual funds and other investment products on behalf of investors, perceiving a paid according to the service provided and according to market conditions. Managed resources are owned by third parties and, therefore, not included in the Consolidated Statements of Financial Position.

According to established in IFRS 10, for consolidation purposes is necessary to assess the role of the Bank and its subsidiaries with respect to the funds they manage, must determine whether that role is Agent or Principal.

The Bank and its subsidiaries manage on behalf and for the benefit of investors, acting in that relationship only as Agent. Under this category, and as provided in the aforementioned regulation, it does not control such funds when exercise its authority to make decisions. Therefore, as of March 31, 2024 and 2023 act as agent, and therefore do not consolidate any fund, no funds are part of the consolidation.

(c) Non-controlling interest:

Non-controlling interest represents the share of losses, income and net assets of which, directly or indirectly, the Bank does not own. It is presented separately from the equity of the owners of the Bank in the Interim Consolidated Statements of Income and the Interim Consolidated Statements of Financial Position.

(d) Use of Estimates and Judgment:

Preparing Interim Consolidated Financial Statements requires Management to make judgments, estimations and assumptions that affect the application of accounting policies and the valuation of assets, liabilities, income and expenses presented. Real results could differ from these estimated amounts. The estimates made refer to:

- Losses due to impairment of assets and liabilities (Notes No. 11, 13, 15, 16, 17 and No. 40)

- Provision for credit risk (Notes No. 13, 26 and 41);

- Expenses for amortization of intangible assets and depreciation of property and equipment and leased assets and lease liabilities (Notes No. 15, 16 and 17);

- Income taxes and deferred taxes (Note No. 18);

- Provisions (Note No. 24);

- Contingencies and Commitments (Note No. 29);

- Fair value of financial assets and liabilities (Notes No. 8, 11, 12, 21 and 44).

Estimates and relevant assumptions are regularly reviewed by the management according to quantify certain assets, liabilities, gains, loss and commitments.

During the period ended March 31, 2024 there have been no significant changes in the estimates made.

12

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(e) Financial Assets:

The classification, measurement and presentation of financial assets has been carried out based on the standards issued by the CMF in the Compendium of Accounting Standards for Banks (CASB), considering the criteria described below:

Classification of financial assets:

On initial recognition, a financial asset is classified within the following categories: Financial assets held for trading at fair value through profit or loss; Financial assets not held for trading mandatorily valued at fair value through profit or loss; Financial assets designated as at fair value through profit or loss; Financial assets at fair value through other comprehensive income and Financial assets at amortized cost.

The criteria for classifying financial assets, which incorporates the standards defined in IFRS 9, depends on the business model with which the entity manages the assets and the contractual characteristics of the cash flows, commonly known as “Solely Payments of Principal and Interest” (SPPI) criterion.

The valuation of these assets should reflect how the Bank manages groups of financial assets and does not depend on the intent for an individual instrument.

A financial asset should be valued at amortized cost if both of the following conditions are met:

- It is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and

- The contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest.

A debt financial instrument must be valued at fair value with changes in “Other comprehensive income” if the following two conditions are met:

- It is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and

- The contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt financial instrument will be classified at fair value through profit or loss whenever, due to the business model or the characteristics of its contractual cash flows, it is not appropriate to classify it in any of the other categories described.

13

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

Valuation of financial assets:

Initial recognition:

Financial assets are initially recognized at fair value plus, in the case of a financial asset that is not carried at fair value through profit or loss, the transaction costs that are directly attributable to its purchase or issuance, using the Effective Interest Rate method (EIT). The calculation of the EIT includes all fees and other items paid or received that are part of the EIT. Transaction costs include incremental costs that are directly attributable to the acquisition or issuance of a financial asset.

Post measurement:

All variations in the value of financial assets due to the accrual of interest and items assimilated to interest are recorded in “Interest income” or “Interest expense” of the Consolidated Income Statement for the year in which the accrual occurred, except for trading derivatives that are not part of accounting hedges.

The changes in the valuations that occur after the initial registration for reasons other than those mentioned in the previous paragraph, are treated as described below, based on the categories in which the financial assets are classified.

Financial assets held for trading at fair value through profit or loss, Financial assets not held for trading mandatorily valued at fair value through profit or loss and Financial assets designated as at fair value through profit or loss:

In “Financial assets held for trading at fair value through profit or loss” will record financial assets whose business model aims to generate profits through purchases and sales or to generate results in the short term.

The financial assets recorded under “Financial assets not held for trading mandatorily valued at fair value through profit or loss” are assigned to a business model whose objective is achieved by obtaining contractual cash flows and/or selling financial assets but where the cash flows contracts have not met the conditions of the SPPI test.

In “Financial assets designated as at fair value through profit or loss” financial assets will be classified only when such designation eliminates or significantly reduces the inconsistency in the valuation or in the recognition that would arise from valuing or recognizing the assets on a different basis.

The assets recorded in these items are valued after their acquisition at their fair value and changes in their value are recorded, at their net amount, under “Financial assets and liabilities held for trading”, “Financial assets and liabilities financial assets not held for trading mandatorily valued at fair value through profit or loss” and “Financial assets and liabilities designated as at fair value through profit or loss” of the Consolidated Income Statement. Variations originated from exchange differences are recorded under “Foreign currency changes, UF indexation and accounting hedge” in the Consolidated Income Statement.

14

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

Financial assets at fair value through other comprehensive income:

− Debt financial instruments:

The assets recorded in this item are valued at their fair value, interest income and UF indexation of these instruments, as well as exchange differences and impairment arising, are recorded in the Consolidated Statement of Income, while subsequent variations in their valuation are temporarily recorded (for its amount net of taxes) in “Changes in the fair value of financial assets at fair value through other comprehensive income” of the Consolidated Statements of Other Comprehensive Income.

The amounts recorded in “Changes in the fair value of financial assets at fair value through other comprehensive income” continue to form part of the Bank’s consolidated equity until the asset is derecognized in the consolidated balance. In the case of selling these assets, the result is recognized in “Financial result for derecognizing financial assets and liabilities at amortized cost and financial assets at fair value with changes in others comprehensive income” of the Consolidated Income Statement.

Net losses due to impairment of financial assets at fair value through other comprehensive income produced in the year are recorded in “Impairment due to credit risk of other financial assets at amortized cost and financial assets at fair value through other comprehensive income” of the Consolidated Income Statement.

− Equity financial instruments:

At the time of initial recognition, the Bank may make the irrevocable decision to present subsequent changes in fair value in other comprehensive income. Subsequent variations in this valuation will be recognized in “Changes in the fair value of equity instruments designated as at fair value through other comprehensive income”. The dividends received from these investments are recorded in “Income from investments in companies” of the Consolidated Income Statement. These instruments are not subject to the impairment model of IFRS 9.

− Financial assets at amortized cost:

The assets recorded in this item of the Consolidated Statement of Financial Position are valued after their acquisition at their “amortized cost”, in accordance with the “effective interest rate” method. They are subdivided according to the following:

- Investment under resale agreements and securities loans (Note No. 13 (a)).

- Debt financial instruments (Note No. 13 (b)).

- Due from banks (Note No. 13 (c)).

- Loans and accounts receivable from customers (Note No. 13 (d)).

Losses due to impairment of these assets generated in each year are recorded in “Provisions for credit risk and loans and accounts receivable from customers” and “Impairment due to credit risk of other financial assets at amortized cost and financial assets at fair value through other comprehensive income” of the Consolidated Income Statement.

15

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

− Investment under resale agreements, obligations under repurchase agreements and securities loans:

Resale agreement operations are carried out as a form of investment. Under these agreements, financial instruments are purchased, which are included as assets in “Investment under resale agreements and securities loans”, which are valued according to the interest rate of the agreement through the amortized cost method. In accordance with current regulations, the Bank does not record as its own portfolio those papers purchased under resale agreements.

Repurchase agreement operations are also carried out as a form of financing, which are included as liabilities in “Obligations for repurchase agreements and securities loans”. In this regard, the investments that are sold subject to a repurchase obligation and that serve as collateral for the loan correspond to debt financial instruments. The obligation to repurchase the investment is classified in liabilities as “Obligations under repurchase agreements and securities loans” and is valued according to the interest rate of the agreement.

− Debt financial instruments at amortized cost:

These instruments are recorded at their cost value plus accrued interest and UF indexation, less provision for impairment constituted when their recorded amount is greater than the estimated amount of recovery. Interest and UF indexation of debt financial instrument at amortized cost are included in “Interest income” and “UF indexation income”.

− Loans and Advances to Banks:

This item shows the balances of operations with local and abroad banks, including the Central Bank of Chile and foreign Central Banks.

− Loans and accounts receivable from customers:

Loans to customers include originated and purchased non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and which the Bank does not intend to sell immediately or in the short term.

(i) Valuation method

They are initially measured at cost plus incremental transaction costs and income, and subsequently measured at amortized cost, using the effective interest rate method, less any impairment loss, except when the Bank defined some loans as hedged items, measured at fair value through profit or loss as described in letter (p) of this note.

(ii) Lease contracts

These are included under the item “Loans to customers” correspond to periodic rent installments of contracts which meet the definition to be classified as financial leases and are presented at their nominal value net of unearned interest as of each year-end.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(iii) Factoring transactions

They are valued for the amounts disbursed by the Bank in exchange for invoices or other commercial instruments representative of credit, with or without responsibility of the grantor, received in discount. Price differences between the amounts disbursed and the nominal value of the credits are recorded in the result as interest income, through the effective interest method, during the financing period. In those cases, where the transfer of these instruments it was made without responsibility of the grantor, it is the Bank who assumes the insolvency risks of those required to pay.

(f) Credit risk allowance

The Bank permanently evaluates the entire portfolio of loans and contingent loans, with the aim of establishing the necessary and sufficient provisions in a timely manner to cover the expected losses associated with the characteristics of the debtors and their credits, based on the payment and subsequent recovery.

Allowances are required to cover the risk of loan losses have been established in accordance with the instructions issued by the CMF. The loans are presented net of those allowances and, in the case of contingent loans are shown in liabilities under the item “Special provisions for credit risk”.

In accordance with what is stipulated by the CMF, models or methods are used based on an individual and group analysis of debtors, to establish allowance for loan losses. The Bank’s Board of Directors approves said models, as well as modifications to their design and application.

(i) Allowance for individual evaluations:

An individual analysis of debtors is applied to companies that are of such significance with respect to size, complexity or level of exposure to the bank, that they must be analyzed in detail.

Likewise, the analysis of borrowers focuses on its credit quality related to the capacity and willingness to meet their credit obligations, through sufficient and reliable information, and should also be analyzed in terms of guarantees, terms, interest rates, currency and revaluation, etc.

For purposes of establish the allowances, the banks must assess the credit quality, then classify to one of three categories of loans portfolio: Normal, Substandard and Non-Complying Loans, it must classify the debtors and their operations related to loans and contingent loans in the categories that apply.

17

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

− Normal Loans and Substandard Loans:

Normal loans: includes those debtors whose payment capacity allows them to meet their obligations and commitments, and according to the evaluation of their economic-financial situation no change in this condition are displayed. Loans classified in categories A1 through A6.

Substandard loans: includes all borrowers with insufficient payment capacity or significant deterioration of payment capacity that may be reasonably expected not to comply with all principal and interest payments obligations set forth in the credit agreement, showing a low flexibility to meet its financial obligations in the short term.

They are also part of the Substandard Portfolio those debtors who have shown arrears of more than 30 days in the recent past. The classifications assigned to this portfolio are categories B1 to B4 of the rating scale.

As a result of individual analysis of the debtors, the Bank must classify them in the following categories, assigning, subsequently, the percentage of probability of default and loss given default resulting in the following percentage of expected loss:

Type of portfolio	Category of the debtors	Probability of default (%) PD		Loss given default (%) LGD		Expected loss (%) EL
Normal Loans	A1		0.04		90.0		0.03600
	A2		0.10		82.5		0.08250
	A3		0.25		87.5		0.21875
	A4		2.00		87.5		1.75000
	A5		4.75		90.0		4.27500
	A6		10.00		90.0		9.00000
Substandard Loans	B1		15.00		92.5		13.87500
	B2		22.00		92.5		20.35000
	B3		33.00		97.5		32.17500
	B4		45.00		97.5		43.87500

Allowances for Normal and Substandard Loans:

To determine the amount of allowances to be constitute for normal and substandard portfolio, previously should be estimated the exposure to subject to the allowances, which will be applied to respective expected loss, which consist of probability of default (PD) and loss given default (LGD) established for the category in which the debtor and/or guarantor belong, as appropriate.

The exposure affects to allowances applicable to loans plus contingent loans minus the amounts to be recovered by way of the foreclosure of financial or real guarantees of the operations. Loans mean the book value of credit of the respective debtor, while for contingent loans, the value resulting from to apply the indicated in No. 3 of Chapter B-3 of the CASB.

18

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

In the case of real guarantees, the Bank must demonstrate that the value assigned to this deduction reasonably reflects the value that it would obtain in the sale of the assets or capital instruments. Also, in qualified cases, the direct debtor’s credit risk may be substituted for the credit quality of the guarantor. In no case may the guaranteed securities be discounted from the amount of the exposure, since this procedure is only applicable when it comes to financial or real guarantees.

For calculation purposes, the following must be considered:

Provision debtor = (ESA-GE) x (PDdebtor /100) x (LGDdebtor /100) + GE x (PDguarantor /100) x (LGDguarantor /100)

Where:

ESA = Exposure subject to allowances, (Loans + Contingent Loans) – Financial Guarantees

GE = Guaranteed exposure

However, the Bank must maintain a minimum provision level of 0.50% over normal portfolio and contingent loans.

− Non-complying Loans:

The non-complying portfolio includes the debtors and their credits for which their recovery is considered remote, as they show an impaired or no payment capacity. This category comprises all debtors who have stopped paying their creditors or with visible evidence that they will stop doing so, as well as those for which a forced restructuring of their debts is necessary, reducing the obligation or postponing the payment of the principal or interest and, in addition, any debtor that has 90 days overdue or more in the payment of interest or principal of any credit. This portfolio is composed of the debtors belonging to categories C1 to C6 of the rating scale and all credits, including 100% of the amount of contingent loans, held by those same debtors.

For purposes to establish the allowances on the non-complying loans, the Bank disposes the use of percentage of allowances to be applied on the amount of exposure, which corresponds to the amount of loans and contingent loans that maintain the same debtor. To apply that percentage, must be estimated an expected loss rate, less the amount of the exposure the recoveries by way of foreclosure of financial or real guarantees that to support the operation and, if there are available specific background, also must be deducting present value of recoveries obtainable exerting collection actions, net of expenses associated with them. This loss percentage must be categorized in one of the six levels defined by the range of expected actual losses by the Bank for all transactions of the same debtor.

19

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

These categories, their range of loss as estimated by the Bank and the percentages of allowance that must be applied on the amount of exposures, are listed in the following table:

Type of portfolio	Scale of risk	Expected Loss Range	Allowance (%)
Non-complying loans	C1	Up to 3%		2
	C2	More than 3% up to 20%		10
	C3	More than 20% up to 30%		25
	C4	More than 30 % up to 50%		40
	C5	More than 50% up to 80%		65
	C6	More than 80%		90

For calculation purposes, the following must be considered:

Expected Loss Rate = (E−R)/E

Allowance = E × (AP/100)

Where:

E = Exposure Amount

R = Recoverable Amount

AP = Allowance Percentage (according to the category in which the Expected Loss Rate should be assigned).

All credits of the debtor must be kept in the Default Portfolio until there is a normalization of their ability or payment behavior, without prejudice to punishment of each particular credit that meets the condition indicated in Title II of Chapter B-2 of the Compendium of Accounting Standards for Banks. To remove a debtor from the Default Portfolio, once the circumstances that lead to classification in this portfolio according to these regulations have been overcome, at least the following copulative conditions must be met:

- No obligation of the debtor with the bank with more than 30 calendar days overdue.

- No new refinances granted to pay its obligations.

- At least one of the payments includes amortization of capital.

- If the debtor has a credit with partial payment periods less than six months, has already made two payments.

- If the debtor must pay monthly fees for one or more credits, has paid four consecutive dues.

- The debtor does not have direct debts unpaid in the CMF recast information, except in the case of insignificant amounts.

(ii) Allowances for group evaluations

Group evaluations are relevant for residential mortgage and consumer loan exposures, in addition to commercial exposures related to student loans and exposures with debtors that simultaneously meet the following conditions:

- The Bank has an aggregate exposure to the same counterparty of less than 20,000 UF. The aggregate exposure should require gross provisions or other mitigations. In addition, for its computation, mortgage loans must be excluded. In the case of off-balance sheet items, the gross amount is calculated by applying the credit conversion factors, defined in chapter B-3 of the CASB. To determine the aggregate exposure, the bank must consider the definition of corporate group established in Title II of Chapter 12-16 of the Actualized Standards Compilation.

Banks must carry out a complete and permanent monitoring of all operations with entities belonging to business groups. Considering the costs that may result the conformation of groups for all debtors, the bank must at least keep control and form groups, if applicable, for all debtors who maintain a current exposure greater than a minimum amount established by the banking institution which may not be greater than 1% of its effective equity at the time the definition of the group portfolio is made.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

- Each aggregate exposure to the same counterparty does not exceed 0.2% of the total commercial group portfolio. To avoid circular computation, the criterion will be checked only once.

For the remaining commercial credit exposures, the individual analysis model of the debtors must be applied.

The determination of the type of analysis (group or individual) must be carried out at the global consolidated level, once a year, or after significant adjustments in the Bank’s portfolio, such as mergers, acquisitions, purchases or significant portfolio sales.

To determine the allowances, the group evaluations require the formation of groups of loans with similar characteristics in terms of type of debtors and conditions agreed, to establish technically based estimates by prudential criteria and following both the payment behavior of the group that concerned as recoveries of defaulted loans and consequently provide the necessary provisions to cover the risk of the portfolio.

To determine its provisions, the Bank segments its debtors into homogeneous groups, according described above, associating to each group a determined probability of default and a percentage of recovery based in a historic analysis. The amount of provisions to register it will be obtained multiplied the total loans of respective group by the percentages of estimated default and of loss given the default.

In the case of consumer loans, collaterals are not considered for the purpose of estimating the expected loss.

The Bank discriminates between provisions on the normal portfolio and on the portfolio in default, and those that protect the risks of contingent credits associated with those portfolios.

− Standard method of provisions for group portfolio

The standard methodologies presented below establish the variables and parameters that determine the provision factor for each type of portfolio that the CMF has defined as representative, according to the common characteristics shared by the operations that comprise them.

21

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(a) Residential mortgage portfolio

The provision factor applicable, represented by expected loss over the mortgage loans, it will depend to the past due of each credit and the relation, at the end of month, between outstanding capital and the value of the mortgage guarantees (CMG), according the following table:

Provision factor applicable according to delinquency and CMG
		Past due days at the end-month				Non-Complying
CMG section	Concept	0	1-29	30-59	60-89		Portfolio
CMG ≤ 40%	PD (%)	1.0916	21.3407	46.0536	75.1614		100.0000
	LGD (%)	0.0225	0.0441	0.0482	0.0482		0.0537
	EAD (%)	0.0002	0.0094	0.0222	0.0362		0.0537
40% < CMG≤ 80%	PD (%)	1.9158	27.4332	52.0824	78.9511		100.0000
	LGD (%)	2.1955	2.8233	2.9192	2.9192		3.0413
	EAD (%)	0.0421	0.7745	1.5204	2.3047		3.0413
80% < CMG≤ 90%	PD (%)	2.5150	27.9300	52.5800	79.6952		100.0000
	LGD (%)	21.5527	21.6600	21.9200	22.1331		22.2310
	EAD (%)	0.5421	6.0496	11.5255	17.6390		22.2310
CMG > 90%	PD (%)	2.7400	28.4300	53.0800	80.3677		100.0000
	LGD (%)	27.2000	29.0300	29.5900	30.1558		30.2436
	EAD (%)	0.7453	8.2532	15.7064	24.2355		30.2436

Where:

PD : Probability of default

LGD : Loss given default

EAD : Exposure at default

CMG : Outstanding loan capital /Mortgage Guarantee value

(b) Commercial portfolio

To determine these allowances, the Bank considers the standard methods presented below, as applicable to commercial leasing operations or other types of commercial loans. Then, the applicable provision factor will be assigned considering the parameters defined for each method.

22

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

● Commercial Leasing Operations

The provision factor applies to the current value of commercial leasing operations (including the purchase option) and will depends on the default of each operation, the type of leased asset and the relationship between the current value of each operation and the leased asset value (PVB) at each month-end, as indicated in the following tables:

Probability of default (PD) applicable according to default and type of asset (%)
	Type of asset
Days of default of the operation at the month-end	Real estate	Non-real estate
0	0.79	1.61
1-29	7.94	12.02
30-59	28.76	40.88
60-89	58.76	69.38
Portfolio in default	100.00	100.00

Loss given the default (LGD) applicable according to PVB section and type of asset (%)
PVB = Current value of the operation / Value of the leased asset
PVB section	Real estate	Non-real estate
PVB ≤ 40%	0.05	18.20
40% < PVB ≤ 50%	0.05	57.00
50% < PVB ≤ 80%	5.10	68.40
80% < PVB ≤ 90%	23.20	75.10
PVB > 90%	36.20	78.90

The determination of the PVB relationship is made considering the appraisal value expressed in UF for real estate and in Chilean pesos for non-real estate, recorded at the time of the respective loan granting, taking into account possible situations that may be causing temporary increases in the assets prices at that time.

● Generic commercial loans and factoring

For the factoring operations and other commercial loans, other than those indicated above, the provision factor, applicable to the amount of the placement and the exposure of the contingent loan risk, will depends on the default of each operation and the relationship that exists at the end of each month, between the obligations that the debtor has with the bank and the value of the collateral that protect them (PTVG), as indicated in the following tables:

Probability of default (PD) applicable according to default and PTVG section (%)
Days of default at the month-end	With collateral		Without collateral
	PTVG≤100%	PTVG>100%
0	1.86	2.68	4.91
1-29	11.60	13.45	22.93
30-59	25.33	26.92	45.30
60-89	41.31	41.31	61.63
Portfolio in default	100.00	100.00	100.00

23

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

Loss given the default (LGD) applicable according to PTVG section (%)
Collateral (with / without)	PTVG section	Generic commercial operations or factoring without the responsibility of the transferor	Factoring with the responsibility of the transferor
With collateral	PTVG ≤ 60%	5.00	3.20
	60% < PTVG≤ 75%	20.30	12.80
	75% < PTVG ≤ 90%	32.20	20.30
	90% < PTVG	43.00	27.10
Without collateral		56.90	35.90

The collaterals used for the purposes of calculating the PTVG relationship of this method may be specific or general, including those that are simultaneously specific and general. Collateral can only be considered if, according to the respective coverage clauses, it was constituted in the first degree of preference in favor of the Bank and only guarantees the debtor’s credits with respect to which it is imputed (not shared with other debtors).

The invoices assigned in the factoring operations will not be considered for purposes of calculating the PTVG. The excess of collateral associated with mortgage loans referred to in numeral 3.1.1 Residential mortgage portfolio in Chapter B-1 of CASB may be considered, computed as the difference between 80% of the property’ commercial value, according to with the conditions set out in that framework, and the mortgage loan that guarantees.

For the calculation of the PTVG ratio, the following considerations must be taken into account:

i. Transactions with specific collaterals: when the debtor granted specific collateral for generic commercial loans and factoring, the PTVG ratio is calculated independently for each covered transaction, such as the division between the amount of the loans and the contingent loans exposure and the collateral’s value of the covered product.

ii. Transactions with general collaterals: when the debtor granted general or general and specific collaterals, the Bank calculates the respective PTVG, jointly for all generic commercial loans and factoring and not contemplated in the preceding paragraph i), as the quotient between the sum of the amounts of the loans and exposures of contingent loans and the general, or general and specific collateral that, according to the scope of the remaining coverage clauses, safeguard the loans considered in the numerator aforementioned coverage ratio.

24

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

The amounts of the guarantees used in the PTVG ratio of numerals i) and ii), different from those associated with excess guarantees from mortgage loans to which the residential mortgage portfolio refers, must be determined according to:

- The last valuation of the collateral, be it appraisal or fair value, according to the type of real guarantee in question. For the determination of fair value, the criteria indicated in Chapter 7-12 (Fair Value of Financial Instruments) of the RAN should be considered.

- Possible situations that could be causing temporary increases in the values of the collaterals.

- Limitations on the amount of coverage established in their respective clauses.

− Portfolio in default.

Includes all placements and 100% of the amount of the contingent loans, of the debtors that the closing of a month presents a delay equal to or greater than 90 days in the payment of the interest of the capital of any credit. It will also include debtors who are granted a credit to leave an operation that has more than 60 days of delay in their payment, as well as those debtors who were subject to forced restructuring or partial forgiveness of a debt.

They may exclude from the portfolio in default: a) mortgage loans for housing, which delinquent less than 90 days, unless the debtor has another loan of the same type with greater delinquency; and, b) credits for financing higher studies of Law No. 20,027, which do not yet present the non-compliance conditions indicated in Circular No. 3,454 of December 10, 2008.

All credits of the debtor must be kept in the Default Portfolio until there is a normalization of their ability or payment behavior, without prejudice to punishment of each particular credit that meets the condition indicated in Title II of Chapter B-2 of the CASB. To remove a debtor from the Default Portfolio, once the circumstances that lead to classification in this portfolio according to the present rules have been overcome, at least the following copulative conditions must be met:

- No obligation of the debtor with the bank with more than 30 calendar days overdue.

- No new refinances granted to pay its obligations.

- At least one of the payments includes amortization of capital.

- If the debtor has a credit with partial payment periods less than six months, has already made two payments.

- If the debtor must pay monthly fees for one or more credits, has paid four consecutive dues.

- The debtor does not appear with unpaid debts direct according to the information recast by CMF, except for insignificant amounts.

25

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(iii) Provisions related to financing with FOGAPE COVID-19 guarantee.

On July 17, 2020, the CMF requested to determine specific provisions of the credits guaranteed by the FOGAPE COVID-19 guarantee, for which the expected losses were determined estimating the risk of each operation, without considering the substitution of credit quality of the guarantee, according to the corresponding individual or group analysis method, in accordance with the provisions of Chapter B-1 of the CASB. This procedure must be carried out in an aggregate manner, grouping all those operations to which the same deductible percentage is applicable.

The deductible is applied by the Fund Administrator, which must be borne by each financial institution and does not depend on each particular operation, but is determined based on the total of the balances guaranteed by the Fund, for each group of companies that have the same coverage, according to their net sales size.

(iv) Provisions related to financing with FOGAPE Reactivation guarantee.

To determine the provisions of the amounts guaranteed by the FOGAPE Reactivation, the Bank considers the substitution of the credit quality of the debtors for that of the FOGAPE, for all the types of financing indicated, up to the amount covered by the aforementioned guarantee. Naturally, the option to consider the risk attributable to FOGAPE may be made while said guarantee remains in force, without considering the capitalized interest, in accordance with the provisions of article 17 of the Fund Regulations.

Likewise, for the computation of the provisions of the amount not covered by the guarantee, corresponding to the debtors, the treatment must be differentiated according to the level of default of the refinanced credit and the grace period, which must consider the cumulative consecutive months grace period between the refinanced loan and other prior measures.

For this purpose, the following situations should be considered:

● Refinancing with less than 60 days past due and less than 180 days of grace.

When the Bank grants the refinancing and is the current creditor, depending on the methodology used in accounting for provisions (standard or internal method) for the group portfolio, the computation of default and the expected loss parameters remain constant at the time to carry out the refinancing, as long as no payment is due.

In the case of debtors evaluated on an individual basis, their risk category is maintained at the time of rescheduling, which does not prevent them from being reclassified to the category that corresponds to them, in the event of a worsening of their payment capacity.

26

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

● Refinancing with past due between 60 and 89 days or grace periods greater than 180 days and less than 360 days.

The provisions established in the previous point apply, and at least one of the following conditions must also be met:

i. In its credit granting policies, the Bank considers at least the following aspects:

- A robust procedure for the categorization of viable debtors, which considers at least the sector and its solvency and liquidity situation.

- Efficient mechanisms for monitoring the debtor’s situation, with formally defined internal governance.

ii. Interest is charged in the months of grace, in accordance with the guidelines established in article 15 letter a) of the Regulation, or there is a demand for payment in another credit with the bank. In the latter case, if noncompliance is observed, the carry forward rules contained in numerals 2.2 and 3.2 of Chapter B-1 of the CASB must be considered, depending on whether it is a credit subject to individual or group evaluation, respectively.

● Refinancing with grace periods greater than 360 days.

The Bank must apply the provisions established in Chapter B-1 of the CASB, considering the operation as a forced renegotiation and, therefore, apply the provisions that correspond to the portfolio in default.

(v) Impairment of loans

The impaired loans include the following assets, according to Chapter B-1 of the CASB of the CMF:

- In case of debtors subject to individual assessment, includes credits from “Non-complying loans” those classified in categories B3 and B4 of “Substandard loans”.

- Debtors subject to assessment group evaluation, the impaired portfolio includes all credits of the “Non-complying loans”.

27

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(vi) Charge-offs

As a general rule, the charge-offs are produced when the contractual rights on cash flows end. In case of loans, even if the above does not happen, it will proceed to charge-offs the respective asset balances.

The charge-off refers to derecognition of the assets in the Consolidated Statement of Financial Position, related to the respective transaction and, therefore, the part that could not be past-due if a loan is payable in installments, or a lease.

− Charge-offs of loans to customers

The charge-off must be to make using credit risk provisions constituted, whatever the cause for which the charge-off was produced.

Write-offs for loans to customers and accounts receivable, other than from leasing operations, should be made in the following circumstances, whichever occurs first:

- The Bank, based on all available information, concludes that will not obtain any cash flow of the credit recorded as an asset.

- When the debt without executive title expires 90 days after it was recorded in asset.

- At the expiration of the statute of limitations for actions to demand payment through an executive trial, or at the time of rejection or abandonment of the execution of the judgment by final court resolution.

- When past-due term of a transaction reaches the charge-off term disposed below:

Type of Loan	Term
Consumer loans - secured and unsecured	6 months
Other transactions - unsecured	24 months
Commercial loans - secured	36 months
Residential mortgage loans	48 months

The term represents the time elapsed since the date on which payment of all or part of the obligation in default became due.

28

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

− Charge-offs of lease operations

These assets must be charge-offs against the following circumstances, whichever occurs first:

- The Bank concludes that there is no possibility of the rent recoveries and the value of the property cannot be considered for purposes of recovery of the contract, either because the lessee has not the asset, for the property’s conditions, for expenses that involve its recovery, transfer and maintenance, due to technological obsolescence or absence of a history of your location and current situation.

- When it complies the prescription term of actions to demand the payment through executory or upon rejection or abandonment of executory by court.

- When a contract has been in default reach the period of time indicated below:

Type of Loan	Term
Consumer leases	6 months
Other non-real estate lease transactions	12 months
Real estate leases (commercial or residential)	36 months

The term represents the time elapsed since the date on which payment of all or part of the obligation in default became due.

(vii) Written-off loans recoveries

Cash recoveries on charge-off loans including loans that were reacquired from the Central Bank of Chile are recorded directly in income in the Consolidated Statement of Income, as a reduction of the “Recoveries of written-off loans” item.

In the event of recoveries of assets, the income will be recognized in the results for the amount by which they are incorporated into the asset. The same criterion will be followed if the leased assets were recovered after the charge-off for a leasing operation, when such assets are incorporated into the asset.

Any renegotiation of a credit already written off does not give rise to income, as long as the operation remains to have an impaired quality; the actual payments received must be treated as recoveries of credits written off, as indicated above.

Therefore, renegotiated credit can be recorded as an asset only if it has not deteriorated quality; also recognizing revenue from activation must be recorded like recovery of loans.

The same criteria should apply in the case that was give credit to pay a charge-off loan.

29

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(g) Impairment due to credit risk of Financial assets at amortized cost and Financial assets at fair value through other comprehensive income (FVOCI):

In accordance with the established in Chapter A-2 of the CASB of the CMF, the impairment model of IFRS 9 will not be applied to loans in the category “Financial assets at amortized cost” (“Due from banks” and “Loans and accounts receivable from customers”), nor on “Contingent loans”, since the criteria for these instruments are defined in Chapters B-1 to B-3 of the CASB.

For the rest of the financial assets measured at Amortized Cost or FVOCI, the model on which impairment losses must be calculated corresponds to one of Expected Credit Loss (ECL) as established in IFRS 9.

Debt financial instruments whose subsequent valuation is at amortized cost or at FVOCI will be subject to impairment due to credit risk. On the contrary, those instruments at fair value through profit or loss do not require this measurement.

The measurement of impairment is carried out in accordance with a general impairment model that is based on the existence of 3 possible phases of the financial asset, the existence or not of a significant increase in credit risk and the condition of impairment. The 3 phases determine the amount of impairment that will be recognized as an expected credit loss, as well as the interest income that will be recorded at each reporting date. Each phase is listed below:

Phase 1: Incorporates financial assets whose credit risk has not increased significantly since initial recognition. Expected credit losses are recognized to 12-month. Interest is recognized based on the gross amount on the balance sheet.

Phase 2: Incorporates financial assets whose credit risk has increased significantly since initial recognition. Expected credit losses are recognized throughout the life of the financial asset. Interest is recognized based on the gross amount on the balance sheet.

Phase 3: Incorporates impaired financial assets. Expected credit losses are recognized throughout the life of the financial asset. Interest is recognized based on the net amount (gross amount on the balance sheet less allowance for credit risk).

− Impairment of debt financial instruments measured at fair value through other comprehensive income

The Bank applies the value impairment requirements for the recognition and measurement of a value correction for losses to financial assets that are measured at fair value through other comprehensive income in accordance with IFRS 9. This value adjustment for losses is recognized in Other Comprehensive Income (OCI) and does not reduce the carrying amount of the financial asset in the Consolidated Statement of Financial Position. The accumulated loss recognized in OCI is recycled in results when derecognizing the financial assets.

30

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(h) Financial liabilities:

Classification of financial liabilities:

Financial liabilities are classified in the following categories:

- Financial liabilities at amortized cost;

- Financial liabilities held for trading at fair value through profit or loss: Financial instruments are recorded in this item when the Bank’s objective is to generate profits through purchases and sales with these instruments. This item includes financial derivative trading contracts that are liabilities, which will be measured subsequently at fair value.

- Financial liabilities designated as at fair value through profit or loss: The Bank has the option to irrevocably designate, at the time of initial recognition, a financial liability as measured at fair value through profit or loss if the application of this criterion eliminates or significantly reduces inconsistencies in the measurement or recognition, or if it is a group of financial liabilities, or a group of financial assets and liabilities, that is managed, and its performance evaluated, based on fair value in line with a risk management or investment strategy.

Valuation of financial liabilities:

Initial valuation:

They are initially recorded at fair value, less transaction costs that are directly attributable to the issuance of the instruments.

Variations in the value of financial liabilities due to the accrual of interest, UF indexation and similar concepts are recorded under the headings “Interest expenses” and “UF indexation expenses” of the Consolidated Income Statement for the period in which the accrual occurred (see Note No. 30 and No. 31).

Subsequent valuation:

The changes in the valuations that will occur after the initial registration due to reasons other than those mentioned in the previous paragraph, are treated as described below, based on the categories in which the financial liabilities are classified

Financial liabilities at amortized cost:

The liabilities recorded in this item are valued after their acquisition at their amortized cost, which is determined in accordance with the effective interest rate method (EIR).

31

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(i) Derecognition of financial assets and liabilities:

The Bank and its subsidiaries derecognize a financial asset from its Statement of Financial Position, when the contractual rights to the cash flows of the financial asset have expired or when the contractual rights to receive the cash flows of the financial asset are transferred during a transaction in which all ownership risks and rewards of the financial asset are transferred. Any portion of transferred financial assets that is created or retained by the Bank is recognized as a separate asset or liability.

When the Bank transfers a financial asset, it assesses to what extent it has retained the risks and rewards of ownership. In this case:

− If substantially all risks and rewards of ownership of the financial asset have been transferred, it is derecognized, and any rights or obligations created or retained upon transfer are recognized separately as assets or liabilities.

− If substantially all risks and rewards of ownership of the financial asset have been retained, the Bank continues to recognize it.

− If substantially all risks and rewards of ownership of the financial asset are neither transferred nor retained, the Bank will determine if it has retained control of the financial asset. In this case:

- If the Bank has not retained control, the financial asset will be derecognized, and any rights or obligations created or retained upon transfer will be recognized separately as assets or liabilities.

- If the Bank has retained control, it will continue to recognize the financial asset in the Consolidated Financial Statement by an amount equal to its exposure to changes in value that can experience and recognize a financial liability associated to the transferred financial asset.

The Bank derecognizes a financial liability (or a portion thereof) from its Consolidated Statement of Financial Position if, and only if, it has extinguished or, in other words, when the obligation specified in the corresponding contract has been paid or settled or has expired.

32

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(j) Compensation of financial assets and liabilities:

Financial assets and liabilities are subject to compensation, so that their net amount is presented in the Consolidated Statement of Financial Position, when and only when the Bank has the right, legally enforceable, to offset the recognized amounts and intends to settle the net amount, or to realize the asset and settle the liability simultaneously.

Income and expenses are presented net only when permitted by accounting standards, or in the case of gains and losses arising from a group of similar transactions such as the Bank’s trading and foreign exchange activity.

(k) Functional currency:

The items included in the Interim Financial Statements of Banco de Chile and its subsidiaries are valued using the currency of the primary economic environment in which it operates (functional currency). The functional and presentation currency of the Interim Consolidated Financial Statements of Banco de Chile is the Chilean peso, which is the currency of the primary economic environment in which the Bank operates, and also obeys the currency that influences the cost and income structure.

(l) Transactions in foreign currency:

Transactions in currencies other than the functional currency are considered to be in foreign currency and are initially recorded at the exchange rate of the functional currency on the transaction date. Monetary assets and liabilities denominated in foreign currencies are converted using the exchange rate of the functional currency as of the date of the Consolidated Statement of Financial Position. All differences are recorded as a debit or credit to income.

As of March 31, 2024 and 2023, the Bank and its subsidiaries applied the exchange rate of accounting representation according to the standards issued by the CMF, for which the assets in dollars are shown at their equivalent value in Chilean pesos calculated using the following market exchange rate Ch$982.21 per US$1 (Ch$794.42 per US$1 as of March 31, 2023).

As of March 31, 2024, the amount of Ch$106,447 million corresponding to a net financial profit from exchange, indexation and accounting hedging of foreign currency (net loss of Ch$30,696 million as of March 31, 2023) shown in the Consolidated Statements of Income, includes the result from exchange operations, indexation and accounting hedges of foreign currency, including the conversion of assets and liabilities in foreign currency or indexed to the exchange rate.

33

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(m) Operating Segments:

The Bank discloses information by segment in accordance with IFRS 8 (Note No. 6). The Bank’s operating segments are determined based on its different business units, considering the following:

- That it conducts business activities from which income is obtained and expenses are incurred (including income and expenses relating to transactions with other components of the same entity).

- That its operating results are reviewed regularly by the entity’s highest decision-making authority for operating decisions, to decide about resource allocation for the segment and evaluate its performance; and

- For which separate financial information available.

(n) Statement of cash flows:

The Consolidated Statement of Cash Flows shows the changes in cash and cash equivalents derived from operating activities, investment and financing activities during the year. The indirect method has been used in the preparation of this statement of cash flows.

For the preparation of Consolidated Financial Statements of Cash Flow, it is considered the following concepts:

- Cash and cash equivalents: corresponds to the item “Cash and deposits in banks”, plus (minus) the net balance corresponding to operations with liquidation in progress that are shown in the Consolidated Statement of Financial Position, plus other cash equivalents such as investments in short-term debt financial instruments that meet the criteria to be considered “cash equivalents”, for which they must have an original maturity of 90 days or less from the date of acquisition, be highly liquid, easily convertible into amounts known amounts of cash as of the date of the initial investment, and that the financial instruments are exposed to an insignificant risk of changes in value.

- Operating activities: corresponds to normal activities of the Bank, as well as other activities that cannot classify like investing or financing activities.

- Investing activities: correspond to the acquisition, sale or disposition other forms, of long-term assets and other investments not included in cash and cash equivalents.

- Financing activities: corresponds to the activities that produce changes in the amount and composition of the equity and the liabilities that are not included in the operating or investing activities.

34

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(o) Financial derivative contracts:

A “Financial Derivative” is a financial instrument whose value changes in response to changes in an observable market variable (such as an interest rate, exchange rate, the price of a financial instrument or a market index, including credit ratings), whose initial investment is very small in relation to other financial instruments with a similar response to changes in market conditions and which is generally settled at a future date.

The Bank maintains contracts of Derivative financial instruments, for cover the exposition of risk of foreign currency and interest rate. These contracts are recorded in the Consolidated Statement of Financial Position at their cost (included transactions costs) and subsequently measured at fair value. Derivative instruments are reported as an asset when their fair value is positive and as a liability when negative under the item “Derivative Instruments”.

Changes in fair value of derivative contracts held for trading purpose are included under “Financial Assets and Liabilities held for Trading”, on the Consolidated Statement of Income.

Additionally, the Bank includes in the valuation of the derivatives “Counterparty Credit Risk Adjustments, including: “CVA” or Credit Valuation Adjustment to reflect the counterparty credit risk in determining the fair value, as well as the “DVA” o Debit Valuation Adjustment to reflect the Bank’s own credit risk. Likewise, the Bank incorporates “Financing Adjustment”, also called “FVA” or Funding Valuation Adjustment, which captures the expected cost (or benefit) of financing (reinvesting) the cash flows of the derivative, with respect to a reference discount rate, when there are no collaterals (or they are imperfect).

Certain embedded derivatives in other financial instruments are treated as separate derivatives when their risk and characteristics are not closely related to those of the main contract and if the contract in its entirety is not recorded at its fair value with its unrealized gains and losses included in income.

(p) Financial derivative contracts for accounting hedges:

The Bank has chosen to continue applying the hedge accounting requirements of IAS 39 when adopting IFRS 9.

At the moment of subscription of a derivative contract must be designated by the Bank as a derivative instrument for trading or hedging purposes.

If a derivative instrument is classified as a hedging instrument, it can be:

- A hedge of the fair value of existing assets or liabilities or firm commitments, or;

- A hedge of cash flows related to existing assets or liabilities or forecasted transactions.

A hedge relationship for accounting hedges purposes must comply with all of the following conditions:

- at its inception, the hedge relationship has been formally documented;

- it is expected that the hedge will be highly effective;

- the effectiveness of the hedge can be measured in a reasonable manner; and

- the hedge is highly effective with respect to the hedged risk on an ongoing basis and throughout the entire hedge relationship.

35

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

The Bank presents and measures individual hedges (where there is a specific identification of hedged item and hedged instruments) by classification, according to the following criteria:

Fair value hedges: Changes in the fair value of a derivative hedging instrument, designated as a fair value hedge, are recognized in income under the lines “Net interest income” and “Net indexation income” and/or “Foreign currency changes, UF indexation and accounting hedge”, depending on the type of risk covered. The hedged item is also presented at fair value in relation to the risk being hedged; gains or losses attributable to the hedged risk are recognized in income under the lines “Net interest income” and “Net income from UF indexation” and adjust the book value of the item subject to the hedge.

Cash flow hedge: Changes in the fair value of financial instruments derivative designated like “cash flow hedge” are recognized in “Cash flow accounting hedge” included in the Consolidated Other Comprehensive Income, to the extent that hedge is effective and hedge is reclassified to income in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, when hedged item affects the income of the Bank produced for the “interest rate risk” or “foreign exchange risk”, respectively. If the hedge is not effective, the changes in the fair value are recognized directly in the results of the year under the caption “Other financial result”.

If the hedged instruments do not comply with criteria of cash flow accounting hedges, it expires or is sold, it suspends or executed, this hedge must be discontinued prospectively. Accumulated gains or losses recognized previously in the equity are maintained there until projected transactions occur, in that moment will be registered in Consolidated Statement of Income (in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, depend of the hedge), lesser than it foresees that the transaction will not execute, in this case it will be registered immediately in Consolidated Statement of Income (in the item “Net interest income” and “Net income from UF indexation” and/or “Foreign currency changes, UF indexation and accounting hedge”, depend of the hedge).

(q) Intangible Assets:

Intangible assets (Note No. 15) are initially recognized at their acquisition cost, and are subsequently measured at their cost less any accumulated amortization or less any accumulated impairment losses.

Software or computer programs purchased by the Bank and its subsidiaries are accounted for at cost less accumulated amortization and impairment losses.

The subsequent expense in software assets is capitalized only when it increases the future economic benefit for the specific asset. All other expenses are recorded as an expense as incurred.

Amortization is recorded in income using the straight-line amortization method based on the estimated useful life of the software, from the date on which it is available for use. The estimated useful life of software is a maximum of 6 years.

36

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(r) Property and equipment:

Property and equipment (Note No. 16) includes the amount of land, real estate, furniture, computer equipment and other installations owned by the consolidated entities and which are for own use. These assets are stated at historical cost less depreciation and accumulated impairment. This cost includes expenses than have been directly attributed to the asset’s acquisition.

Depreciation is recognized in the Consolidated Statements of Income on a straight-line basis over the estimated useful lives of each part of an item of property and equipment.

The estimated average useful lives for the period 2024 and 2023 are as follows:

- Buildings	50 years
- Installations	10 years
- Equipment	5 years
- Supplies and accessories	5 years

Maintenance expenses relating to those assets held for own uses are recorded as expenses in the year in which they are incurred.

(s) Deferred taxes and income taxes:

The income tax provision of the Bank and its subsidiaries has been determined in conformity with current legal regulations.

The Bank and its subsidiaries recognize, when appropriate, deferred tax assets and liabilities for future estimates of tax effects attributable to temporary differences between the book and tax values of assets and liabilities. Deferred tax assets and liabilities are measured based on the tax rate expected to be applied, in accordance with current tax law, in the year that deferred tax assets are realized or liabilities are settled. The effects of future changes in tax legislation or tax rates are recognized in deferred taxes starting on the date of publication of the law approving such changes (Note No. 18).

Deferred tax assets are recognized only when it is likely that future tax profits will be sufficient to recover deductions for temporary differences. According to instructions from the CMF, deferred taxes are presented in the Consolidated Statement of Financial Position according with IAS 12 “Income Tax”.

37

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(t) Provisions, contingent assets and liabilities:

Provisions are liabilities involving uncertainty about their amount or maturity. They are recorded in the Consolidated Statement of Financial Position when the following requirements are jointly met:

- a present obligation has arisen from a past event;

- as of the date of the Financial Statements it is probable that the Bank or its subsidiaries have to disburse resources to settle the obligation; and

- the amount of these resources can be reliably measured.

A contingent asset or liability is any right or obligation arising from past events whose existence will be confirmed by one or more uncertain future events which are not within the control of the Bank.

Contingent credits are understood as operations or commitments in which the Bank assumes a credit risk by committing itself to third parties, in the event of a future event, to make a payment or disbursement that must be recovered from its clients.

The following are classified as contingent credits in off-balance sheet information:

- Undrawn credit lines: Considers the unused amounts of lines of credit that allow customers to make use of credit without prior decisions by the bank.

- Undrawn credit lines with immediate termination: Considers those undrawn credit lines, defined in the previous numeral, that the bank can unconditionally cancel at any time and without prior notice, or for which its automatic cancellation is contemplated in case of deterioration of the debtor’s solvency, as permitted by the current legal framework and the contractual conditions established between the parties.

- Contingent credits linked to the CAE: Correspond to credit commitments granted in accordance with Law No. 20,027 (“CAE”).

- Letters of credit for goods circulation operations: Considers the commitments that arise, both to the issuing bank and to the confirming bank, from self-settled commercial letters of credit with a maturity period of less than 1 year, arising from merchandise circulation operations (for example, confirmed foreign or documentary letters of credit). Includes documentary letters of credit issued by the Bank, which have not yet been negotiated.

- Debt purchase commitments in local currency abroad: Note issuance facility (NIF) and revolving underwriting facility (RUF) are considered.

38

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

- Transactions related to contingent events: Guarantee bonds with promissory notes referred to in Chapter 8-11 of the Actualized Standards Compilation are considered.

- Warranty by endorsement and sureties: Includes warranty by endorsement, sureties and standby letters of credit referred to in Chapter 8-10 of the Actualized Standards Compilation. In addition, it includes the payment guarantees of buyers in factoring operations, as indicated in Chapter 8-38 of that Compilation.

- Other credit commitments: It includes the unplaced amounts of committed loans that are to be disbursed on an agreed future date or triggered by events contractually defined with the client, as is the case with irrevocable credit lines tied to the progress of projects (for provisions purposes, both the gross exposure referred to in No. 3 and future increases in the amount of guarantees associated with committed disbursements must be considered).

Exposure to credit risk on contingent loans:

To calculate provisions for contingent credits, the amount of exposure to be considered will be equivalent to the percentage of the amounts of the contingent credits indicated below:

Type of contingent credit	Credit Conversion Factor
Undrawn credit lines with immediate termination		10	%
Contingent credits linked to the CAE		15	%
Letters of credit for goods circulation operations		20	%
Other undrawn credit lines		40	%
Debt purchase commitments in local currency abroad		50	%
Transactions related to contingent events		50	%
Warranty by endorsement and sureties		100	%
Other credit commitments		100	%
Other contingent loans		100	%

When dealing with transactions performed with customers with overdue loans, that exposure shall be equivalent to 100% of its contingent loans.

(u) Provisions for minimum dividends:

According with the CASB of the CMF, the Bank records within liabilities the portion of net income for the year that should be distributed to comply with the Corporations Law or its dividend policy. For these purposes, the Bank establishes a provision in a complementary equity account within retained earnings (Note No. 25).

For purposes of calculating the provision of minimum dividends, the distributable net income is considered, which is defined as that which results from reducing or adding to the net income for the year, the correction of the value of the paid-in capital and reserves, due to the effects of the variation of the Consumer Price Index.

39

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(v) Employee benefits:

Employee benefits are all forms of consideration granted by an entity in exchange for services provided by employees or severance pay.

Short-term employee benefits are employee benefits (other than termination benefits) that are expected to be settled in full before twelve months after the end of the annual reporting period in which the employees have rendered the related services (Note No. 24 (c)).

- Staff vacations

The annual costs of vacations and staff benefits are recognized on an accrual basis.

- Other short-term benefits

The entity contemplates for its employees an annual incentive plan for meeting objectives and individual contribution to the company’s results, which are eventually delivered, consisting of a certain number or portion of monthly salaries and are provisioned based on the estimated amount to be distributed.

Other long-term employee benefits are all employee benefits other than short-term employee benefits, post-employment benefits, and termination benefits.

- Employee benefits for termination of employment contract

The Bank has agreed with part of the staff the payment of compensation to those who have completed 30 or 35 years of permanence, in the event that they retired from the Institution. The proportional part accrued by those employees who will have access to exercise the right to this benefit and who at the end of the year have not yet acquired it has been incorporated into this obligation.

The obligations of this benefit plan are valued according to the projected credit unit method, including as variables the staff turnover rate, the expected salary growth and the probability of using this benefit, discounted at the current rate for long-term operations (5.77% as of March 31, 2024 and 5.77% as of December 31, 2023).

The discount rate used corresponds to the rate of 10-year Bonds in pesos of the Central Bank of Chile (BCP).

Gains and losses arising from changes in actuarial variables are recognized in Other Comprehensive Income. There are no other additional costs that should be recognized by the Bank.

40

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(w) Earnings per share:

The basic earnings per share is determined by dividing the net income attributed to the Bank’s owners in a period and the weighted average number of shares outstanding during that period.

Diluted earnings per share are determined similarly to basic earnings, but the weighted average number of outstanding shares is adjusted to take into account the potential dilutive effect of the options on shares, warrants and convertible debt. At the end of the periods ended March 31, 2024 and 2023 there are no concepts to adjust.

(x) Interest revenue and expense and UF indexation:

Interest income and expenses and UF indexation (Notes No. 30 and No. 31) are recognized in the Consolidated Statement of Income using the effective interest rate method. The effective interest rate is the rate which exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument (or, where appropriate, in a shorter period), to the carrying amount of the financial asset or financial liability. To calculate the effective interest rate, the Bank determines cash flows by taking into account all contractual conditions of the financial instrument, excluding future credit losses.

The effective interest rate calculation includes all fees and other amounts paid or received that form part of the effective interest rate. Transaction costs include incremental costs that are directly attributable to the purchase or issuance of a financial asset or liability.

In the case of the impaired portfolio and current loans with a high risk of irrecoverability of loans and accounts receivable from customers, the Bank has applied a conservative position of discontinuing the accrual of interest and UF indexation on an accrual basis in the Consolidated Statement of Income, when the credit or one of its installments has been 90 days default in its payment.

(y) Commission income and expenses:

Revenue and expenses from fees (Note No. 32) are recognized in the Consolidated Income Statement using the criteria established in IFRS 15 “Revenue from contracts with customers”.

Under IFRS 15, revenues are recognized considering the terms of the contract with customers. Revenue is recognized when or as the performance obligation is satisfied by transferring the goods or services committed to the customer.

Under IFRS 15, revenues are recognized using different criteria depending on their nature. The most significant are:

− Those that correspond to a singular act, when the act that originates them takes place.

− Those that originate in transactions or services that are extended over time, during the life of such transactions or services.

− Commissions on loan commitments and other fees related to credit operations are deferred (together with the incremental costs directly related to the placement) and recognized as an adjustment to the effective interest rate of the placement. In the case of loan commitments, when there is no certainty of the date of effective placement, the commissions are recognized in the period of the commitment that originates it on a linear basis.

41

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

The fees registered by the Bank correspond mainly to:

− Commissions for credit prepayment: These commissions are accrued at the time the credits are prepaid.

− Commissions for lines of credit and overdrafts: These commissions are accrued in the period related to the granting of lines of credit and overdrafts in checking accounts.

− Commissions for warranty by endorsement and letters of credit: These commissions are accrued in the period related to the granting by the bank of payment guarantees for real or contingent obligations of third parties.

− Commissions for card services: Correspond to commissions accrued for the period, related to the use of credit cards, debit cards and other.

− Commissions for account management: Includes commissions for the maintenance of current accounts and other deposit accounts.

− Commissions for collections and payments: Includes commissions generated by the collection and payment services provided by the Bank.

− Commissions for intermediation and management of securities: correspond to income from brokerage service, placements, administration and custody of securities.

− Remuneration for administration of mutual funds, investment funds or others: corresponds to the commissions from the General Fund Administrator for the administration of third-party funds.

− Remuneration for brokerage and insurance consulting services: Income from brokerage and insurance advice by the Bank or its subsidiaries is included.

− Commissions for factoring operations services: Commissions for factoring operations services performed by the Bank are included.

− Commissions for financial consulting services: commissions for financial advisory services performed by the Bank and its subsidiary are included.

− Other commissions earned: includes income generated from foreign currency exchange, issuance bank guarantees, issuance of bank check, use of distribution channels, agreement on the use of a brand and placement of financial products and cash transfers, and recognition of payments associated with commercial alliances, among others.

Commission expenses include:

− Commissions for card operations: commissions paid for credit and debit card operations are included.

− Commissions for licensing the use of card brands

− Expenses for obligations of loyalty and merits programs for card customers.

− Commissions for operations with securities: commissions for deposit and custody of securities and brokerage of securities are included.

− Other commissions for services received: Commissions are included for guarantees and endorsements of Bank obligations, for foreign trade operations, for correspondent banks in the country and abroad, for ATMs and electronic fund transfer services.

− Commissions for compensation of large value payments: corresponds to commissions paid to entities such as ComBanc, CCLV Contraparte Central, etc.

42

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

(z) Impairment of non-financial assets:

The carrying amounts of the non-financial assets of the Bank and its subsidiaries, are reviewed throughout the year and especially at each reporting date, to determine if any indication of impairment exists. If such indication exists, the recoverable amount of the asset is then estimated.

(aa)  Financial and operating leases:

− The Bank acting as lessor

Assets leased to customers under agreements which transfer substantially all the risks and rewards of ownership, with or without ultimate legal title, are classified as finance leases. When assets held are subject to a finance lease, the leased assets are derecognized and a receivable is recognized which is equal to the present value of the minimum lease payments, discounted at the interest rate implicit in the lease. Initial direct costs incurred in negotiating, and arranging a finance lease are incorporated into the receivable through the discount rate applied to the lease. Finance lease income is recognized over the lease term based on a pattern reflecting a constant periodic rate of return on the net investment in the finance lease.

Assets leased to customers under agreements, which do not transfer substantially all the risks, and rewards of ownership are classified as operating leases.

The leased investment properties, under the operating lease modality, are included in the Consolidated Statement of Financial Position as “Other assets” and depreciation is determined on the book value of these assets, applying a proportion of the value in a systematic way on the economic use of the estimated useful life. Lease income is recognized on a straight-line basis over the lease term.

− The Bank acting as lessee

A contract is, or contains a lease, if one party has the right to control the use of an identified asset for a period of time in exchange for a regular payment (Note No. 17).

On the start date of a lease, a right-to-use assets leased is determined at cost, which includes the amount of the initial measurement of the lease liability plus other disbursements made.

The amount of the lease liability is measured at the present value of future lease payments that have not been paid on that date, which are discounted using the Bank’s incremental financing interest rate.

The right-of-use asset is measured using the cost model, less accumulated depreciation and accumulated losses due to impairment of value, depreciation of the right-of-use asset, is recognized in the Consolidated Statements of Income based on the linear depreciation method from the start date and until the end of the lease term.

43

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

The monthly variation of the UF for the contracts established in said monetary unit should be treated as a new measurement, therefore the UF readjustment modifies the value of the lease liability, and in parallel, the amount of the right-of-use asset must be adjusted by this effect.

After the start date, the lease liability is measured by lowering the carrying amount to reflect the lease payments made and the modifications to the lease.

According to IFRS 16 “Leases” the Bank does not apply this rule to contracts whose duration is 12 months or less and those that contain an underlying asset of low value. In these cases, payments are recognized as a lease expense.

(ab)  Additional provisions:

In accordance to the CMF regulations, the banks have recorded additional allowances for its individually evaluated loan portfolio, taking into consideration the expected impairment of this portfolio. The calculation of this allowance is performed based on the Bank’s historical experience and considering possible future adverse macroeconomic conditions or circumstances that could affect a specific sector.

The provisions made in order to forestall the risk of macroeconomic fluctuations should anticipate situations reversal of expansionary economic cycles in the future, could translate into a worsening in the conditions of the economic environment and thus, function as a countercyclical mechanism accumulation of additional provisions when the scenario is favorable and release or assignment to specific provisions when environmental conditions deteriorate.

According to the above, additional provisions must always correspond to general provisions on commercial, consumer or mortgage loans, or segments identified, and in no case may be used to offset weaknesses of the models used by the Bank (Note No. 26).

As of March 31, 2024, the balance of additional provisions amounts to Ch$700,252 million (Ch$700,252 million in December 2023), which are presented in the caption “Special Provisions for Credit Risk” of liabilities in the Interim Consolidated Statement of Financial Position.

(ac)  Fair value measurement:

“Fair value” is understood as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants in a principal (or more advantageous) market at the measurement date under current market conditions, independent whether that price is directly observable or estimated using another valuation technique. The most objective and usual reference of fair value is the price that would be paid in an active, transparent and deep market (“quoted price” or “market price”).

When available, the Bank estimates the fair value of an instrument using quoted prices in an active market for that instrument. A market is considered active if quoted prices are readily and regularly available and represent actual and regularly occurring market transactions on an arm’s length basis.

44

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

2. Main Accounting Criteria Used, continued:

If a market for a financial instrument is not active, the Bank establishes fair value using a valuation technique. These valuation techniques include the use of recent market transactions between knowledgeable, willing parties in an arm’s length transaction, if available, as well as references to the fair value of other instruments that are substantially the same, discounted cash flows and options pricing models.

The chosen valuation technique makes maximum use of information obtained in the market, using the least possible amount of data estimated by the Bank, incorporates all the factors that market participants would consider to establish the price, and will be consistent with generally accepted economic methodologies for calculating the price of financial instruments. The variables used by the valuation technique reasonably represent market expectations and reflect the return-risk factors inherent to the financial instrument. Periodically, the Bank calibrates the valuation techniques and tests it for validity using prices from observable current market transaction in the same instrument or based on available observable market information.

The best evidence of the fair value of a financial instrument at initial recognition is the transaction price (i.e. the fair value of the consideration given or received) unless the fair value of that instrument is evidenced by comparison with other observable current market transactions in the same instrument (i.e. without modification or repackaging) or based on a valuation technique whose variables include only data from observable markets. However, when transaction price provides the best evidence of fair value at initial recognition, the financial instrument is initially measured at the transaction price and any difference between this price and the value initially obtained from a valuation model is subsequently recognized in incomes.

On the other hand, it should be noted that the Bank has financial assets and liabilities offset each other’s market risks, based on which average market prices are used as a basis for determining their fair value.

Then, the fair value estimates obtained from models are adjusted for any other factors, such as liquidity risk or model uncertainties; to the extent that the Bank believes that a third-party market participant would take them into account in pricing a transaction.

The Bank’s fair value disclosures are included in Note No. 44.

45

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

3. New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted:

Standards approved and/or modified by the International Accounting Standards Board (IASB) and by the Commission for the Financial Market (CMF):

Standards and interpretations that have been adopted in these Interim Consolidated Financial Statements.

As of the date of issuance of these Interim Consolidated Financial Statements, the new accounting pronouncements issued by both the IASB and the CMF, which have been adopted by the Bank and its subsidiaries, are detailed below:

- Accounting standards issued by IASB.

IFRS 16 Leases. Recognition of the lease liability in a sale with leaseback.

In September 2022, the IASB published an amendment to IFRS 16 related to the recognition of the lease liability in a sale with leaseback.

The amendment specifies the requirements that a seller-lessee must use to measure the lease liability that arises on sale and leaseback so that the seller-lessee does not recognize any gain or loss related to the right of use that it retains.

The modifications are effective for the periods of presentation of the Financial Statements that begin on or after January 1, 2024, and early application is allowed.

The implementation of this amendment will have no impact for Banco de Chile and its subsidiaries.

IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosures - Supplier Financing Arrangements.

In May 2023, the IASB issued amendments to IAS 7 and IFRS 7. The amendments specify the current requirements to enhance the disclosure in the financial statements of supplier financing arrangements concerning liabilities, cash flows, and a company’s exposure to liquidity risk.

The amendments are effective for periods beginning on or after January 1, 2024, and early application is permitted.

The implementation of this amendment had no impact for Banco de Chile and its subsidiaries.

46

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

3. New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

New Standards and interpretations that have been issued but their application date is not yet in force:

The following is a summary of new standards, interpretations and improvements to the International Financial Reporting Standards issued by the International Accounting Standards Board (IASB) and the CMF that are not yet effective as of March 31, 2024, as follows:

- Accounting standards issued by IASB.

IAS 28 Investments in Associates and Joint Venture and IFRS 10 Consolidated Financial Statements.

In September 2014, the IASB published this modification, which clarifies the scope of the profits and losses recognized in a transaction, that involves an associate or joint venture, and that this depends on whether the asset sold or contribution constitutes a business. Therefore, the IASB concluded that all gains or losses must be recognized against loss of control of a business.

Likewise, the gains or losses that result from the sale or contribution of a subsidiary that does not constitute a business (definition of IFRS 3) to an associate or joint venture must be recognized only to the extent of unrelated interests in the associate or joint venture.

During December 2015, the IASB agreed to set the effective date of this modification in the future, allowing its immediate application.

Banco de Chile and its subsidiaries will have no impact on the Consolidated Financial Statements as a result of the application of this amendment.

IAS 21 Effects of Changes in Foreign Exchange Rates.

In August 2023, the IASB published amendments to IAS 21. These amendments set out criteria that will allow companies to assess whether a currency is exchangeable and when it is not so, they can determine the exchange rate to use and the disclosures to provide.

The amendments are effective for periods beginning on or after January 1, 2025, and early application is permitted.

As of the date of issuance of these Interim Financial Statements, the implementation of this new standard will not have impacts for the Bank or its subsidiaries.

47

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

3. New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

- Accounting standards issued by CMF.

Circular No. 2,346. Standard model of provisions for consumer loans. Modifies Chapter B-1 “Provisions for credit risk” and Chapter E “Transitional disposition” of the CNCB.

On March 6, 2024, the CMF published this circular that introduces the regulations that establish the Standardized Methodology for computing Provisions for Consumer Loans in Chapter B-1 of the CNCB.

The regulations establish matrices for determining the Probability of Default (PD) and Loss Given Default (LGD) parameters that must be used to calculate the minimum level of provisions.

The PD matrix is determined based on three factors (default in the bank, in the financial system and the possession of a mortgage loan).

Regarding the LGD, the model allows differentiation according to the type of credit (leasing or automotive, installments, cards and lines or other consumer) and also distinguishes those debtors with mortgage credit for housing in the system, allowing banks recognize a loss level adjusted to the specific characteristics of each operation.

The regulations of the standard provision model for consumer loans will come into force as of the accounting close of January 2025. Until that date, banks will continue to estimate the provisions of this portfolio only through their internal methodologies. The impact of the first application must be recorded in the entity’s income statement.

Based on the information available at the date of issuance of these Financial Statements, it is estimated that the adoption of this new methodology will mean a charge to results of the order of Ch$60,000 and Ch$65,000 million before tax. To address this impact, the Bank has resolved to release additional provisions for an equivalent amount at the time of implementing the new methodology.

48

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

3. New Accounting Pronouncements Issued and Adopted, or Issued that have not yet been Adopted, continued:

Circulars issued in the process of implementing the Basel III standards.

During the year 2024, the CMF has issued the following standards related to the implementation of Basel III:

On February 9, 2024, Circular No. 2,344 was published, which provides clarifications to Chapter 21-20 of the Updated Compilation of Standards (“RAN” for its initials in Spanish), on dispositions related to the promotion of market discipline and financial transparency through of the disclosure of significant and timely information from banking entities to market agents, as defined by the Basel Committee on Banking Supervision, for the standard commonly called “Pillar 3”. The changes will apply from the Pillar 3 report that must be published with information that refers to the first quarter of 2024, and it is not required to rectify previous reports.

On February 9, 2024, Circular No. 2,343 was published, the regulations modify Chapter 21-11 “Factors and methodology for Banks or group of banks classified as systemically important and requirements that may be imposed as a consequence of this qualification” of the Updated Compilation of Standards (“RAN” for its initials in Spanish), regarding the lower threshold to determine systemic banks. Additionally, adjustments are made to File R11 “Rating of systemically important banks”, and to Tables 11 “Institutional composition” and 106 “Sub-factors of the Systemically Important Index” of the Information System Manual (“MSI” for its initials in Spanish).

4. Accounting Changes:

During the period ended March 31, 2024, there have been no material or relative importance changes in accounting that affect the presentation of these Interim Consolidated Financial Statements.

49

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

5. Relevant Events:

a) During the period 2024 Banco de Chile has reported as essential fact the following placements in the local market of senior, dematerialized and bearer bonds issued by Banco de Chile and registered in the Securities Registry of the Financial Market Commission:

Date	Registration number in the Securities Registry	Serie	Amount		Currency	Maturity date	Average rate
January 15, 2024	11/2022	EZ		3,100,000	UF	05/01/2028		3.72	%
January 16, 2024	11/2022	EZ		900,000	UF	05/01/2028		3.72	%
January 31, 2024	11/2015	CE		600,000	UF	12/01/2031		3.20	%
February 8, 2024	11/2015	CH		200,000	UF	12/01/2032		3.15	%
March 15, 2024	11/2022	FA		910,000	UF	08/01/2028		3.25	%
March 21, 2024	11/2022	FA		550,000	UF	08/01/2028		3.32	%
March 22, 2024	11/2022	EY		350,000	UF	04/01/2028		3.29	%
March 25, 2024	11/2022	FA		400,000	UF	08/01/2028		3.29	%
March 26, 2024	11/2022	GG		350,000	UF	05/01/2035		3.35	%
March 27, 2024	11/2022	FA		100,000	UF	08/01/2028		3.24	%

b) On January 25, 2024, the Board of Directors of Banco de Chile agreed to convene an Ordinary Shareholders’ Meeting for March 28, 2024 in order to propose, among other matters, the following distribution of profits for the year ended on December 31, 2023:

a) Deduct and withhold from the net income of the year, an amount equivalent to the effect of inflation of the paid capital and reserves according to the variation of the Consumer Price Index that occurred between November 2022 and November 2023, amounting to Ch$223,719,568,421 which will be added to retained earnings from previous periods.

b) Distribute 80% in the form of dividend the remaining profit, corresponding to a dividend of Ch$8.07716286860 to each of the 101,017,081,114 shares of the Bank.

Consequently, it will be proposed a distribution as dividend of 65.6% of the profits for the year ending December 31, 2023.

50

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

5. Relevant Events, continued:

c) During the period 2024 Banco de Chile has reported as an essential fact the following placements in the foreign market, issued under its Medium Term Notes Program (“MTN”):

Date	Amount		Currency	Maturity date	Average rate
February 2, 2024		433,000,000	HKD	02/09/2034		4.22	%

d) On March 28, 2024, during the Bank’s Ordinary Shareholders’ Meeting, the definitive appointment of Mr. Patricio Jottar Nasrallah as a Regular Director of Banco de Chile was made, a position he will hold until the next renewal of the Board of Directors.

e) On March 28, 2024, the subsidiary Banchile Corredores de Seguros Ltda. reported that the general manager, Mr. Jorge Yoma Rojas, will leave his position on April 15, 2024. Mr. Patricio Salles Delporte will take over as his replacement.

6. Business Segments:

For management purposes, the Bank is organized into four segments, which are defined based on the types of products and services offered, and the type of client in which focuses as described below:

Retail: This segment focuses on individuals and small and medium-sized companies (SMEs) with annual sales up to UF 70,000, where the product offering focuses primarily on consumer loans, commercial loans, checking accounts, credit cards, credit lines and Residential mortgage loans.

Wholesale: This segment focused on corporate clients and large companies, whose annual revenue exceed UF 70,000, where the product offering focuses primarily on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases.

Treasury: This segment includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading.

Transactions with customers carried out by the Treasury are reflected in the respective aforementioned segments. These products are highly transaction-focused and include foreign exchange transactions, derivatives and financial instruments in general, among others.

Subsidiaries: Corresponds to the businesses generated by the companies controlled by the Bank, which carry out activities complementary to the bank business. The companies that comprise this segment are:

- Banchile Administradora General de Fondos S.A.

- Banchile Asesoría Financiera S.A.

- Banchile Corredores de Seguros Ltda.

- Banchile Corredores de Bolsa S.A.

- Socofin S.A.

51

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

6. Business Segments, continued:

The financial information used to measure the performance of the Bank’s business segments is not comparable with similar information from other financial institutions because each institution relies on its own definitions. The accounting policies applied to the segments is the same as those described in the summary of accounting principles. The Bank obtains the majority of the results from: interest, indexation and commissions and financial operations and changes, discounting provisions for credit risk and operating expenses. Management is mainly based on these concepts to evaluate the performance of the segments and make decisions about the goals and allocations of resources of each unit. Although the results of the segments reconcile with those of the Bank at the total level, this is not necessarily the case in terms of the different concepts, given that management is measured and controlled individually and not on a consolidated basis, applying the following criteria:

● The net interest margin of loans and deposits is obtained aggregating the net financial margins of each individual operation of credit and uptake made by the bank. For these purposes, the volume of each operation and its contribution margin are considered, which in turn corresponds to the difference between the effective rate of the customer and the internal transfer price established according to the term and currency of each operation. Additionally, the net margin includes the result of interest and indexation from the accounting hedges.

● Provisions for credit risk are determined at the customer and counterparty level based on the characteristics of each of their operations. In the case of additional provisions, these are assigned to the different business segments based on the credit risk weighted assets that each segment has.

● The capital and its financial impacts on outcome have been assigned to each segment based on the risk-weighted assets.

● Operational expenses are reflected at the level of the different functional areas of the Bank. The allocation of expenses from functional areas to business segments is done using different allocation criteria, at the level of the different concepts and expense items.

Taxes are managed at a corporate level and are not allocated to business segments.

For the periods ended March 31, 2024 and 2023 there was no income from transactions with a customer or counterparty that accounted for 10% or more of the Bank’s total revenues.

52

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

6. Business Segments, continued:

The following table presents the income by segment for the periods ended between January 1, and March 31, 2024 and 2023 for each of the segments defined above:

	Retail						Wholesale						Treasury						Subsidiaries						Subtotal						Consolidation adjustment						Total
	March			March			March			March			March			March			March			March			March			March			March			March			March			March
	2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Net interest revenue (expense) and UF indexation		389,443			329,476			195,941			195,446			(52,948	)		(66,346	)		(2,676	)		(4,557	)		529,760			454,019			574			29			530,334			454,048
Net commissions revenue (expense)		78,148			86,669			22,720			16,593			239			45			45,181			41,348			146,288			144,655			(8,816	)		(7,740	)		137,472			136,915
Profit (loss) of financial operations		80			92			3,323			5,997			(14,801	)		116,767			10,268			10,841			(1,130	)		133,697			(574	)		(29	)		(1,704	)		133,668
Foreign currency changes, indexation and accounting hedge		7,534			(498	)		7,605			8,480			83,989			(45,106	)		7,319			6,428			106,447			(30,696	)		—			—			106,447			(30,696	)
Other income		8,276			6,377			1,008			916			—			—			975			1,029			10,259			8,322			(2,680	)		(1,734	)		7,579			6,588
Income attributable to investments in other companies		(466	)		1,349			583			532			66			67			35			30			218			1,978			—			—			218			1,978
Total operating revenue		483,015			423,465			231,180			227,964			16,545			5,427			61,102			55,119			791,842			711,975			(11,496	)		(9,474	)		780,346			702,501
Expenses from salaries and employee benefits		(92,107	)		(87,487	)		(26,820	)		(26,166	)		(676	)		(697	)		(21,812	)		(19,674	)		(141,415	)		(134,024	)		5			6			(141,410	)		(134,018	)
Administrative expenses		(88,893	)		(79,115	)		(19,552	)		(18,985	)		(438	)		(523	)		(11,607	)		(9,559	)		(120,490	)		(108,182	)		11,267			9,191			(109,223	)		(98,991	)
Depreciation and amortization		(19,366	)		(19,061	)		(2,061	)		(2,088	)		(132	)		(108	)		(1,843	)		(1,502	)		(23,402	)		(22,759	)		—			—			(23,402	)		(22,759	)
Impairment of non-financial assets		—			(1	)		—			—			—			—			(94	)		30			(94	)		29			—			—			(94	)		29
Other operating expenses		(7,608	)		(6,143	)		(1,980	)		(1,507	)		(1	)		(1	)		(350	)		(329	)		(9,939	)		(7,980	)		224			277			(9,715	)		(7,703	)
Total operating expenses		(207,974	)		(191,807	)		(50,413	)		(48,746	)		(1,247	)		(1,329	)		(35,706	)		(31,034	)		(295,340	)		(272,916	)		11,496			9,474			(283,844	)		(263,442	)
Expenses for credit losses		(93,131	)		(100,255	)		(18,552	)		(6,268	)		(1,485	)		1,015			—			—			(113,168	)		(105,508	)		—			—			(113,168	)		(105,508	)
Income from operations		181,910			131,403			162,215			172,950			13,813			5,113			25,396			24,085			383,334			333,551			—			—			383,334			333,551
Income taxes																																						(85,679	)		(67,600	)
Income after income taxes																																						297,655			265,951

The following table presents assets and liabilities of the periods ended March 31, 2024 and December 31, 2023 by each segment defined above:

	Retail				Wholesale				Treasury				Subsidiaries				Subtotal				Consolidation adjustment						Total
	March		December		March		December		March		December		March		December		March		December		March			December			March		December
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024			2023			2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Assets		23,041,101		22,920,254		13,480,093		13,226,319		18,781,649		18,215,123		1,007,893		986,697		56,310,736		55,348,393		(277,473	)		(236,853	)		56,033,263		55,111,540
Current and deferred taxes																												758,208		681,012
Total assets																												56,791,471		55,792,552
Liabilities		18,941,822		18,650,882		10,588,837		10,357,679		21,528,450		21,005,581		832,537		777,170		51,891,646		50,791,312		(277,473	)		(236,853	)		51,614,173		50,554,459
Current and deferred taxes																												2,391		808
Total liabilities																												51,616,564		50,555,267

53

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

7. Cash and Cash Equivalents:

The detail of the balances included under cash and cash equivalents as follows:

	March		December
	2024		2023
	MCh$		MCh$
Cash and due from banks:
Cash		856,209		929,034
Deposit in Chilean Central Bank (*)		1,150,682		590,426
Deposit in abroad Central Bank		—		—
Deposits in domestic banks		13,720		17,052
Deposits in abroad banks		1,227,890		928,136
Subtotal – Cash and due from banks		3,248,501		2,464,648
Net transactions in the course of settlement (**)		74,368		58,634
Others cash equivalents (***)		1,524,366		3,020,865
Total cash and cash equivalents		4,847,235		5,544,147

The detail of the balances included under net ongoing clearance operations is as follows:

	March			December
	2024			2023
	MCh$			MCh$
Assets
Documents drawn on other banks (clearing)		81,134			84,635
Funds receivable		289,934			330,870
Subtotal - assets		371,068			415,505
Liabilities
Funds payable		(296,700	)		(356,871	)
Subtotal - liabilities		(296,700	)		(356,871	)
Net transactions in the course of settlement		74,368			58,634

(*)  The level of funds in cash and in the Central Bank of Chile responds to regulations on reserve requirements that the bank must maintain on average in monthly periods.

(**)  Ongoing clearance operations correspond to transactions in which only the settlement remains that will increase or decrease the funds in the Central Bank of Chile or in foreign banks, normally within 12 or 24 business hours.

(***)  Refers to financial instruments that meet the criteria to be considered as “cash equivalents” as defined by IAS 7, i.e., to qualify as “cash equivalents” investments in debt financial instruments must be: short-term with an original maturity of 90 days or less from the date of acquisition, highly liquid, readily convertible to known amounts of cash from the date of initial investment, and that the financial instruments are exposed to an insignificant risk of changes in their value.

54

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

8. Financial Assets Held for Trading at Fair Value through Profit or Loss:

The item detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Financial derivative contracts		2,526,743		2,035,376
Debt Financial Instruments		1,870,975		3,363,624
Other financial instruments		280,862		409,328
Total		4,678,580		5,808,328

(a) The Bank as of March 31, 2024 and December 31, 2023, maintains the following asset portfolio of derivative instruments:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair Value Assets
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Currency forward		—		—		3,969,641		3,659,459		2,492,536		2,410,522		2,742,654		2,517,954		332,806		355,774		8,993		13,536		8,634		—		9,555,264		8,957,245		354,328		212,475
Interest rate swap		—		—		1,083,965		847,401		1,722,052		1,859,664		8,655,751		6,593,100		7,318,106		7,157,777		4,105,143		3,743,282		4,710,585		4,709,682		27,595,602		24,910,906		920,871		883,689
Interest rate and cross currency swap		—		—		110,986		167,667		195,182		305,181		1,024,426		987,931		2,863,629		2,724,924		1,259,969		1,112,311		2,529,393		2,410,153		7,983,585		7,708,167		1,242,921		934,466
Call currency options		—		—		39,801		7,019		38,818		26,243		55,711		87,429		7,367		7,325		—		—		—		—		141,697		128,016		8,435		3,435
Put currency options		—		—		13,595		3,012		7,944		24,464		23,932		51,132		7,367		6,558		—		—		—		—		52,838		85,166		188		1,311
Total		—		—		5,217,988		4,684,558		4,456,532		4,626,074		12,502,474		10,237,546		10,529,275		10,252,358		5,374,105		4,869,129		7,248,612		7,119,835		45,328,986		41,789,500		2,526,743		2,035,376

55

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

8. Financial Assets Held for Trading at Fair Value through Profit or Loss, continued:

b) The detail of the Debt Financial Instruments is the following:

	March		December
	2024		2023
	MCh$		MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		1,449,054		2,799,442
Bonds and Promissory notes from the General Treasury of the Republic		176,841		227,871
Other fiscal debt financial instruments		—		—
Other Instruments Issued in Chile
Debt financial instruments from other domestic banks		245,080		336,311
Bonds and trade effects from domestic companies		—		—
Other debt financial instruments issued in the country		—		—
Instruments Issued Abroad
Financial instruments from foreign governments or Central Banks		—		—
Financial debt instruments from foreign goverments and fiscal entities		—		—
Debt financial instruments from other foreign banks		—		—
Bonds and trade effects from foreign companies		—		—
Total		1,870,975		3,363,624

Under instruments of the State and Central Bank of Chile are classified instruments sold under repurchase agreements to clients and financial institutions, as of March 31, 2024 and December 31, 2023, there is no amount for this concept. As part of the FCIC program, instruments delivered as collateral are included for an approximate amount of Ch$245,620 million as of December 31, 2023.

Instruments sold under repurchase agreements to clients and financial institutions include other debt financial instruments issued in the country, by an amount of Ch$155,621 million as of March 31, 2024 (Ch$121,586 million in December 2023). The repurchase agreements have an average maturity of 2 days at the end of the period 2024 (4 days in 2023).

Additionally, the Bank has investments in own-issued letters of credit for an amount equivalent to Ch$1,535 million as of March 31, 2024 (Ch$1,733 million in December 2023), which are presented as a reduction of the liability item “Debt Financial Instruments Issued”.

56

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

8. Financial Assets Held for Trading at Fair Value through Profit or Loss, continued:

c) The detail of other financial instruments is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Mutual fund investments
Funds managed by related companies		275,251		405,752
Funds managed by third-party		—		—
Equity instruments
Domestic equity instruments		1,311		2,058
Foreign equity instruments		384		485
Loans originated and acquired by the entity
Loans and advances to banks		—		—
Commercial loans		—		—
Residential mortgage loans		—		—
Consumer loans		—		—
Others		3,916		1,033
Total		280,862		409,328

9. Non-trading Financial Assets mandatorily measured at Fair Value through Profit or Loss:

As of March 31, 2024 and December 31, 2023, the Bank does not hold any non-trading financial assets mandatorily measured at fair value through profit or loss.

10. Financial Assets and Liabilities designated as at Fair Value through Profit or Loss:

As of March 31, 2024 and December 31, 2023, the Bank does not hold financial assets and liabilities designated as at fair value through profit or loss.

57

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

11. Financial Assets at Fair Value through Other Comprehensive Income:

The item detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Debt Financial Instruments		3,196,366		3,786,525
Other financial instruments		—		—
Total		3,196,366		3,786,525

(a) As of March 31, 2024 and December 31, 2023, the detail of debt financial instruments is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		118,269		473,642
Bonds and Promissory notes from the General Treasury of the Republic		1,210,574		1,362,510
Other fiscal debt financial instruments		1,321		1,500
Other Instruments Issued in Chile
Debt financial instruments from other domestic banks		1,587,654		1,681,744
Bonds and trade effects from domestic companies		44,388		59,921
Other debt financial instruments issued in the country		—		—
Instruments Issued Abroad
Financial instruments from foreign Central Banks		—		—
Financial instruments from foreign governments and fiscal entities		48,103		43,294
Debt financial instruments from other foreing banks		186,057		163,914
Bonds and trade effects from foreign companies		—		—
Other debt financial instruments issued abroad		—		—
Total		3,196,366		3,786,525

Instruments of the Government and the Central Bank of Chile include instruments sold under repurchase agreements to clients and financial institutions for an amount of Ch$10,758 million in March 2024 (Ch$10,488 million in December 2023). The repurchase agreements have an average maturity of 2 days in March 2024 (3 days in December 2023). As part of the FCIC program, instruments delivered as collateral are included for an approximate amount of Ch$1,094,076 million as of December 31, 2023.

Under the same item, instruments that guarantee margins for cleared derivatives transactions are classified through Comder Contraparte Central S.A. for an amount of Ch$58,825 million as of March 31, 2024 (Ch$43,863 million as of December 31, 2023).

58

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

11. Financial Assets at Fair Value through Other Comprehensive Income, continued:

Under Instruments of Other National Institutions are classified instruments delivered as collateral as part of FCIC program for an approximate amount of Ch$499,251 million as of March 31, 2024 (Ch$850,506 million as of December 31, 2023).

As of March 31, 2024 the accumulated credit impairment for debt instruments at fair value through other comprehensive income was Ch$5,832 million (Ch$5,500 million as of December 31, 2023).

(b) The analysis of changes in fair value and expected losses of debt instruments measured at fair value is as follows:

	Phase 1 Individual						Phase 2 Individual						Phase 3 Individual				Total
	Fair value			Impairment			Fair value			Impairment			Fair value		Impairment		Fair value			Impairment
	MCh$			MCh$			MCh$			MCh$			MCh$		MCh$		MCh$			MCh$
Balance as of January 1, 2023		3,967,392			9,496			—			—			—		—		3,967,392			9,496
Net change in balance		(159,617	)		(3,996	)		(30,124	)		(1,921	)		—		—		(189,741	)		(5,917	)
Change in fair value		8,718			—			156			—			—		—		8,874			—
Transfer to Phase 1		—			—			—			—			—		—		—			—
Transfer to Phase 2		(29,968	)		—			29,968			—			—		—		—			—
Transfer to Phase 3		—			—			—			—			—		—		—			—
Impact due to transfer between phases		—			—			—			1,921			—		—		—			1,921
Net impact due to impairment		—			—			—			—			—		—		—			—
Balance as of December 31, 2023		3,786,525			5,500			—			—			—		—		3,786,525			5,500
Balance as of January 1, 2024		3,786,525			5,500			—			—			—		—		3,786,525			5,500
Net change in balance		(596,267	)		332			—			—			—		—		(596,267	)		332
Change in fair value		6,108			—			—			—			—		—		6,108			—
Transfer to Phase 1		—			—			—			—			—		—		—			—
Transfer to Phase 2		—			—			—			—			—		—		—			—
Transfer to Phase 3		—			—			—			—			—		—		—			—
Impact due to transfer between phases		—			—			—			—			—		—		—			—
Net impact due to impairment		—			—			—			—			—		—		—			—
Balance as of March 31, 2024		3,196,366			5,832			—			—			—		—		3,196,366			5,832

(c) Realized and unrealized gains and losses:

As of March 31, 2024, the portfolio of debt financial instruments includes an accumulated unrealized gain of Ch$15,582 million (unrealized gain of Ch$9,142 million as of December 31, 2023), recorded as an equity valuation adjustment.

Gross realized gains and losses on the sale of debt financial instruments, as of March 31, 2024 and 2023 are reported under “Net Financial income (expense)” (See Note No. 33).

The changes in realized gains and losses at the end of both periods are the following:

	March			March
	2024			2023
	MCh$			MCh$
Unrealized gains (losses)		8,979			16,674
Realized losses (gains) reclassified to income		(2,539	)		117
Subtotal		6,440			16,791
Income tax on other comprehensive income		(2,429	)		(2,573	)
Net effect in equity		4,011			14,218

59

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12. Derivative Financial Instruments for hedging purposes:

(a.1) As of March 31, 2024 and December 31, 2023, the Bank has the following asset portfolio of financial derivative instruments for accounting hedging purposes:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Assets
	March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Derivatives held for fair value hedges		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Cash flow hedge derivatives
Interest rate swap and cross currency swap		—		—		—		—		—		—		142,567		141,416		263,755		36,553		279,596		232,293		466,174		222,615		1,152,092		632,877		127,182		49,065
Total		—		—		—		—		—		—		142,567		141,416		263,755		36,553		279,596		232,293		466,174		222,615		1,152,092		632,877		127,182		49,065

(a.2) As of March 31, 2024 and December 31, 2023, the Bank has the following debt portfolio of financial derivative instruments for accounting hedging purposes:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Liabilities
	March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher		March		Decemher
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Derivatives held for fair value hedges		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Cash flow hedge derivatives
Interest rate swap and cross currency swap		—		—		—		—		—		—		—		—		130,096		218,840		—		180,325		802,246		983,782		932,342		1,382,947		78,674		160,602
Total		—		—		—		—		—		—		—		—		130,096		218,840		—		180,325		802,246		983,782		932,342		1,382,947		78,674		160,602

60

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12. Derivative Financial Instruments for hedging purposes, continued:

(b) Fair value Hedges:

As of March 31, 2024 and December 31, 2023, no fair value hedges are held.

(c) Cash flow Hedges:

(c.1) The Bank uses cross currency swaps to hedge the risk from variability of cash flows attributable to changes in the interest rates and foreign exchange of foreign banks obligations and bonds issued abroad in US Dollars, Hong Kong dollars, Swiss Franc, Japanese Yens, Peruvian Sol, Australian Dollars, Euros, Norwegian kroner and Mexican peso. The cash flows of the cross currency swaps equal the cash flows of the hedged items, which modify uncertain cash flows to known cash flows derived from a fixed interest rate.

Additionally, these cross currency swap contracts used to hedge the risk from variability of the Unidad de Fomento (“CLF”) in assets flows denominated in CLF until a nominal amount equal to the portion notional of the hedging instrument CLF, whose readjustment impact the item “Interest Revenue” of the Income Financial Statements.

61

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12. Derivative Financial Instruments for hedging purposes, continued:

(c) Cash flow Hedges, continued:

(c.2) Below are the cash flows from bonds issued abroad objects of this hedge and the cash flows of the asset part of the derivative instrument:

	Demand				Up to 1 month						Over 1 month and up to 3 months						Over 3 months and up to 12 months						Over 1 year and up to 3 years						Over 3 years and up to 5 years						Over 5 years						Total
	March		Decemher		March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher
	2024		2023		2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Hedge element
Outflows:
Corporate Bond		—		—		(2,031	)		(450	)		(8,487	)		(4,686	)		(208,980	)		(199,047	)		(416,259	)		(245,308	)		(472,048	)		(552,541	)		(1,433,624	)		(1,252,534	)		(2,541,429	)		(2,254,566	)
Obligation USD		—		—		—			—			(3,013	)		—			(2,938	)		(1,366	)		(103,272	)		(88,096	)		—			—			—			—			(109,223	)		(89,462	)
Hedge instrument
Inflows:
Cross Currency Swap		—		—		2,031			450			11,500			4,686			211,918			200,413			519,531			333,404			472,048			552,541			1,433,624			1,252,534			2,650,652			2,344,028
Net cash flows		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—

(c.3) Below are the cash flows from underlying assets and the cash flows of the liability part of the derivative instrument:

	Demand				Up to 1 month						Over 1 month and up to 3 months						Over 3 months and up to 12 months						Over 1 year and up to 3 years						Over 3 years and up to 5 years						Over 5 years						Total
	March		Decemher		March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher			March			Decemher
	2024		2023		2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023			2024			2023
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Hedge element
Inflows:
Cash flows in CLF		—		—		2,670			1,506			12,246			1,834			173,725			182,057			470,577			328,074			336,699			467,263			1,383,791			1,314,328			2,379,708			2,295,062
Hedge instrument
Outflows:
Cross Currency Swap		—		—		(2,670	)		(1,506	)		(12,246	)		(1,834	)		(173,725	)		(182,057	)		(470,577	)		(328,074	)		(336,699	)		(467,263	)		(1,383,791	)		(1,314,328	)		(2,379,708	)		(2,295,062	)
Net cash flows		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—

62

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

12. Derivative Financial Instruments for hedging purposes, continued:

(c) Cash flow Hedges, continued:

With respect to UF assets hedged; these are revalued monthly according to the variation of the UF, which is equivalent to monthly reinvest the assets until maturity of the relationship hedging.

(c.4) The unrealized results generated during the period 2024 by those derivative contracts that conform the hedging instruments in this cash flow hedging strategy, have been recorded with charge to equity amounting to Ch$5,247million (credit to equity of Ch$56,304 million in March 2023). The net effect of taxes charge to equity amounts to Ch$3,830 million (credit to equity of Ch$41,102 million during the period March 2023).

The accumulated balance for this concept as of March 31, 2024 corresponds to a credit in equity amounted to Ch$4,154 million (credit to equity of Ch$9,401 million as of December 2023).

(c.5) The effect of the cash flow hedging derivatives that offset the result of the hedged instruments corresponds to a credit to income of Ch$169,104 million during the period 2024 (charge to results for Ch$156,319 million during the period March 2023).

(c.6) As of March 31, 2024 and 2023, it not exist inefficiency in cash flow hedge, because both, hedge item and hedge instruments, are mirrors of each other, it means that all variation of value attributable to rate and revaluation components are netted totally.

(c.7) As of March 31, 2024 and 2023, the Bank does not have hedges of net investments in foreign business.

13. Financial assets at amortized cost:

The item detail is as follows:

	March			December
	2024			2023
	MCh$			MCh$
Rights from resale agreements and securities lending		56,530			71,822
Debt financial instruments		4,071,555			1,431,083
Loans and advances to Banks		1,216,747			2,519,180
Loans to customers:
Commercial loans		20,258,177			19,991,114
Residential mortgage loans		12,489,637			12,303,154
Consumer loans		5,341,352			5,306,436
Provisions established for credit risk:
Commercial loans provisions		(384,756	)		(366,205	)
Mortgage loans provisions		(35,217	)		(34,006	)
Consumer loans provisions		(366,618	)		(368,757	)
Total		42,647,407			40,853,821

63

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(a) Rights from resale agreements and securities lending:

The Bank provides financing to its customers through resale agreements and securities lending, in which the financial instrument serves as collateral. As of March 31, 2024 and December 31, 2023, the detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Transaction with domestic banks
Resale agreements with other banks		—		—
Resale agreements with the Central Bank of Chile		—		—
Rights from securities lending		—		—
Transaction with foreign banks
Resale agreements with other banks		—		—
Resale agreements with foreign Central Banks		—		—
Rights from securities lending		—		—
Transaction with other domestic entities
Resale agreements		56,530		71,822
Rights from securities lending		—		—
Transaction with other foreign entities
Resale agreements		—		—
Rights from securities lending		—		—
Accumulated Impairment Value of Financial Assets at Amortized Cost - Rights from resale agreements and securities lending
Financial assets with no significant increase in credit risk since initial recognition (phase 1)		—		—
Financial assets with a significant increase in credit risk since initial recognition, but without credit impairment (phase 2)		—		—
Financial assets with credit impairment (phase 3)		—		—
Total		56,530		71,822

The Bank and its subsidiaries have received financial instruments that they can sell or give as collateral in case the owner of these instruments enters into default or in bankruptcy. As of March 31, 2024, the fair value of the instruments received amounts to Ch$59,828 million (Ch$73,874 million in December 2023).

64

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(b) Debt financial instruments:

At the end of each period, the balances presented under this item are as follows:

	March			December
	2024			2023
	MCh$			MCh$
Instruments issued by the Chilean Government and Central Bank of Chile
Debt financial instruments from the Central Bank of Chile		3,148,357			507,261
Bonds and promissory notes from the General Treasury of the Republic		923,372			923,880
Other fiscal debt financial instruments					—
Other Finacial Instruments issued in Chile
Debt financial instruments from other domestic banks					—
Bonds and trade effects from domestic companies					—
Other debt financial instruments issued in the country					—
Financial Instruments issued Abroad
Debt financial instruments from foreign Central Banks					—
Debt financial instruments from foreign governments and fiscal entities					—
Debt financial instruments from other foreing banks					—
Bonds and trade effects from foreign companies					—
Other debt financial instruments issued abroad					—
Accumulated Impairment Value of Financial Assets at Amortized Cost Debt Financial Instruments
Financial assets with no significant increase in credit risk since initial recognition (phase 1)		(174	)		(58	)
Financial assets with a significant increase in credit risk since initial recognition, but without credit impairment (phase 2)		—			—
Financial assets with credit impairment (phase 3)		—			—
Total		4,071,555			1,431,083

Under Instruments of the Government and the Central Bank of Chile, instruments are classified pledged as collateral as part of the FCIC program are included for an approximate amount of Ch$3,458,316 million as of March 31, 2024 (Ch$1,362,095 million as of December 31, 2023).

65

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(c) Loans and advances to Banks: At the end of each period, the balances presented under this item are as follows:

	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non-Complying Portfolio				Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio					Net
	Individual		Individual		Individual				Individual			Individual		Individual					Financial
As of March 31, 2024	Evaluation		Evaluation		Evaluation		Total		Evaluation			Evaluation		Evaluation		Total			Asset
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Domestic Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		—		—		—		—		—			—		—		—			—
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		—		—		—		—		—			—		—		—			—
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Non-transferable deposits in domestic banks		—		—		—		—		—			—		—		—			—
Other debts with domestic banks		—		—		—		—		—			—		—		—			—
Foreign Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		269,659		—		—		269,659		(590	)		—		—		(590	)		269,069
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		147,457		—		—		147,457		(246	)		—		—		(246	)		147,211
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Current account deposits with foreign banks for derivatives transactions		—		—		—		—		—			—		—		—			—
Other non-transferable deposits with foreign banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Subtotal Domestic Bank and Foreign		417,116		—		—		417,116		(836	)		—		—		(836	)		416,280
Central Bank of Chile
Current account deposits for derivative transactions with a counterparty		—		—		—		—		—			—		—		—			—
Other deposits not available		800,467		—		—		800,467		—			—		—		—			800,467
Other receivables		—		—		—		—		—			—		—		—			—
Foreign Central Banks
Current account deposits for derivatives transactions		—		—		—		—		—			—		—		—			—
Other deposits not available		—		—		—		—		—			—		—		—			—
Other receivables		—		—		—		—		—			—		—		—			—
Subtotal Central Bank of Chile and Foreign Central Banks		800,467		—		—		800,467		—			—		—		—			800,467
Total		1,217,583		—		—		1,217,583		(836	)		—		—		(836	)		1,216,747

66

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(c) Loans and advances to Banks, continued:

	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non-Complying Portfolio				Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio					Net
	Individual		Individual		Individual				Individual			Individual		Individual					Financial
As of December 31, 2023	Evaluation		Evaluation		Evaluation		Total		Evaluation			Evaluation		Evaluation		Total			Asset
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Domestic Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		—		—		—		—		—			—		—		—			—
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		—		—		—		—		—			—		—		—			—
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Non-transferable deposits in domestic banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Foreign Banks
Interbank loans of liquidity		—		—		—		—		—			—		—		—			—
Interbank loans commercial		205,362		—		—		205,362		(449	)		—		—		(449	)		204,913
Current accounts overdrafts		—		—		—		—		—			—		—		—			—
Chilean exports foreign trade loans		213,636		—		—		213,636		(302	)		—		—		(302	)		213,334
Chilean imports foreign trade loans		—		—		—		—		—			—		—		—			—
Credits with third countries		—		—		—		—		—			—		—		—			—
Current account deposits with foreign banks for derivatives transactions		—		—		—		—		—			—		—		—			—
Other non-transferable deposits with foreign banks		—		—		—		—		—			—		—		—			—
Other debts with foreign banks		—		—		—		—		—			—		—		—			—
Subtotal Domestic Bank and Foreign		418,998		—		—		418,998		(751	)		—		—		(751	)		418,247
Central Bank of Chile
Current account deposits for derivative transactions with a counterparty		—		—		—		—		—			—		—		—			—
Other deposits not available		2,100,933		—		—		2,100,933		—			—		—		—			2,100,933
Other receivables		—		—		—		—		—			—		—		—			—
Foreign Central Banks				—		—							—		—
Current account deposits for derivatives transactions		—		—		—		—		—			—		—		—			—
Other deposits not available		—		—		—		—		—			—		—		—			—
Other receivables		—		—		—		—		—			—		—		—			—
Subtotal Central Bank of Chile  and Foreign Central Banks		2,100,933		—		—		2,100,933		—			—		—		—			2,100,933
Total		2,519,931		—		—		2,519,931		(751	)		—		—		(751	)		2,519,180

67

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(d) Loans to Customers: At the end of each period, the balances presented under this item are as follows:

	Assets before allowances												Allowances established
Loans to Customers	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation						Sub			Deductible Warranties Fogape						Net Financial
As of March 31, 2024	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			Covid-19			Total			Asset
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Commercial loans
Commercial loans		10,845,633		3,826,477		185,318		196,504		333,839		15,387,771		(97,890	)		(26,653	)		(5,847	)		(52,625	)		(77,437	)		(260,452	)		(6,391	)		(266,843	)		15,120,928
Chilean exports foreign trade loans		1,351,090		3,911		3,576		9,997		355		1,368,929		(28,430	)		(151	)		(139	)		(4,217	)		(149	)		(33,086	)		—			(33,086	)		1,335,843
Accrediting foreign trade loans negotiated in terms of Chilean imports		93		—		—		—		—		93		(8	)		—			—			—			—			(8	)		—			(8	)		85
Chilean imports foreign trade loans		501,665		45,594		11,747		2,661		2,768		564,435		(20,420	)		(1,250	)		(1,830	)		(1,945	)		(1,411	)		(26,856	)		—			(26,856	)		537,579
Foreign trade credits to third countries		178		—		—		—		—		178		—			—			—			—			—			—			—			—			178
Current account debtors		100,406		90,278		5,423		4,824		1,808		202,739		(2,528	)		(2,158	)		(739	)		(2,176	)		(858	)		(8,459	)		—			(8,459	)		194,280
Credit card debtors		23,574		75,722		1,205		1,150		9,526		111,177		(974	)		(2,356	)		(176	)		(668	)		(5,206	)		(9,380	)		—			(9,380	)		101,797
Factoring transactions		603,367		36,703		6,676		970		222		647,938		(9,689	)		(771	)		(561	)		(421	)		(80	)		(11,522	)		—			(11,522	)		636,416
Commercial lease transactions (1)		1,524,688		280,371		32,112		39,075		14,240		1,890,486		(3,680	)		(1,885	)		(54	)		(5,899	)		(3,390	)		(14,908	)		(438	)		(15,346	)		1,875,140
Student loans		—		51,219		—		—		4,081		55,300		—			(2,175	)		—			—			(2,862	)		(5,037	)		—			(5,037	)		50,263
Other loans and accounts receivable		7,950		10,724		154		8,965		1,338		29,131		(250	)		(3	)		(21	)		(7,448	)		(497	)		(8,219	)		—			(8,219	)		20,912
Subtotal		14,958,644		4,420,999		246,211		264,146		368,177		20,258,177		(163,869	)		(37,402	)		(9,367	)		(75,399	)		(91,890	)		(377,927	)		(6,829	)		(384,756	)		19,873,421
Residential mortgage loans
Letters of credit		—		2,077		—		—		144		2,221		—			(2	)		—			—			(13	)		(15	)		—			(15	)		2,206
Endorsable mortgage loans		—		10,213		—		—		330		10,543		—			(8	)		—			—			(31	)		(39	)		—			(39	)		10,504
Loans with mutual funds financed by mortgage bonds		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Other residential lending		—		12,043,095		—		—		267,720		12,310,815		—			(15,977	)		—			—			(18,137	)		(34,114	)		—			(34,114	)		12,276,701
Residential lease transactions (1)		—				—		—		—		—		—			—			—			—			—			—			—			—			—
Other loans and accounts receivable		—		157,630		—		—		8,428		166,058		—			(243	)		—			—			(806	)		(1,049	)		—			(1,049	)		165,009
Subtotal		—		12,213,015		—		—		276,622		12,489,637		—			(16,230	)		—			—			(18,987	)		(35,217	)		—			(35,217	)		12,454,420
Consumer loans
Consumer loans in installments		—		2,971,798		—		—		250,531		3,222,329		—			(145,254	)		—			—			(136,544	)		(281,798	)		—			(281,798	)		2,940,531
Current account debtors		—		263,167		—		—		2,356		265,523		—			(11,662	)		—			—			(1,113	)		(12,775	)		—			(12,775	)		252,748
Credit card debtors		—		1,815,978		—		—		35,914		1,851,892		—			(49,315	)		—			—			(21,540	)		(70,855	)		—			(70,855	)		1,781,037
Consumer lease transactions (1)		—		362		—		—		—		362		—			(5	)		—			—			—			(5	)		—			(5	)		357
Other loans and accounts receivable		—		9		—		—		1,237		1,246		—			(2	)		—			—			(1,183	)		(1,185	)		—			(1,185	)		61
Subtotal		—		5,051,314		—		—		290,038		5,341,352		—			(206,238	)		—			—			(160,380	)		(366,618	)		—			(366,618	)		4,974,734
Total		14,958,644		21,685,328		246,211		264,146		934,837		38,089,166		(163,869	)		(259,870	)		(9,367	)		(75,399	)		(271,257	)		(779,762	)		(6,829	)		(786,591	)		37,302,575

(1) In this item, the Bank finances its clients the acquisition of movable and immovable property through financial lease agreements. As of March 31, 2024, Ch$953,956 million correspond to finance leases on real estate assets and Ch$936,892 million correspond to finance leases on movable property.

68

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(d) Loans to Customers, continued:

	Assets before allowances												Allowances established
Loans to Customers	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation						Sub			Deductible Warranties Fogape						Net Financial
As of December 31, 2023	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			Covid-19			Total			Asset
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Commercial loans
Commercial loans		10,855,599		3,910,753		185,244		197,361		321,133		15,470,090		(92,816	)		(26,083	)		(6,842	)		(54,446	)		(74,174	)		(254,361	)		(8,604	)		(262,965	)		15,207,125
Chilean exports foreign trade loans		1,122,027		3,629		5,672		6,522		158		1,138,008		(21,669	)		(110	)		(26	)		(3,981	)		(90	)		(25,876	)		—			(25,876	)		1,112,132
Accrediting foreign trade loans negotiated in terms of Chilean imports		94		—		—		—		—		94		(8	)		—			—			—			—			(8	)		—			(8	)		86
Chilean imports foreign trade loans		529,967		41,565		6,584		2,102		2,545		582,763		(17,271	)		(1,127	)		(915	)		(1,515	)		(1,284	)		(22,112	)		—			(22,112	)		560,651
Foreign trade credits to third countries		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Current account debtors		85,209		90,883		4,829		3,739		1,855		186,515		(2,684	)		(2,175	)		(758	)		(1,439	)		(874	)		(7,930	)		—			(7,930	)		178,585
Credit card debtors		21,353		71,726		1,056		1,033		8,537		103,705		(880	)		(2,207	)		(151	)		(608	)		(4,660	)		(8,506	)		—			(8,506	)		95,199
Factoring transactions		558,316		39,021		5,258		453		183		603,231		(10,001	)		(811	)		(497	)		(349	)		(66	)		(11,724	)		—			(11,724	)		591,507
Commercial lease transactions (1)		1,462,558		277,280		32,017		35,525		13,686		1,821,066		(3,103	)		(1,878	)		(102	)		(4,813	)		(3,334	)		(13,230	)		(527	)		(13,757	)		1,807,309
Student loans		—		52,521		—		—		4,114		56,635		—			(2,189	)		—			—			(2,905	)		(5,094	)		—			(5,094	)		51,541
Other loans and accounts receivable		7,417		10,895		195		9,204		1,296		29,007		(253	)		(10	)		(26	)		(7,494	)		(450	)		(8,233	)		—			(8,233	)		20,774
Subtotal		14,642,540		4,498,273		240,855		255,939		353,507		19,991,114		(148,685	)		(36,590	)		(9,317	)		(74,645	)		(87,837	)		(357,074	)		(9,131	)		(366,205	)		19,624,909
Residential mortgage loans
Letters of credit		—		2,339		—		—		151		2,490		—			(2	)		—			—			(8	)		(10	)		—			(10	)		2,480
Endorsable mortgage loans		—		10,983		—		—		329		11,312		—			(8	)		—			—			(31	)		(39	)		—			(39	)		11,273
Loans with mutual funds financed by mortgage bonds		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Other residential lending		—		11,871,797		—		—		250,593		12,122,390		—			(15,919	)		—			—			(17,005	)		(32,924	)		—			(32,924	)		12,089,466
Residential lease transactions (1)		—		—		—		—		—		—		—			—			—			—			—			—			—			—			—
Other loans and accounts receivable		—		158,981		—		—		7,981		166,962		—			(259	)		—			—			(774	)		(1,033	)		—			(1,033	)		165,929
Subtotal		—		12,044,100		—		—		259,054		12,303,154		—			(16,188	)		—			—			(17,818	)		(34,006	)		—			(34,006	)		12,269,148
Consumer loans
Consumer loans in installments		—		2,943,848		—		—		237,359		3,181,207		—			(150,741	)		—			—			(130,531	)		(281,272	)		—			(281,272	)		2,899,935
Current account debtors		—		268,525		—		—		2,449		270,974		—			(12,256	)		—			—			(1,179	)		(13,435	)		—			(13,435	)		257,539
Credit card debtors		—		1,817,403		—		—		34,974		1,852,377		—			(51,867	)		—			—			(20,751	)		(72,618	)		—			(72,618	)		1,779,759
Consumer lease transactions (1)		—		380		—		—				380		—			(5	)		—			—			—			(5	)		—			(5	)		375
Other loans and accounts receivable		—		15		—		—		1,483		1,498		—			(4	)		—			—			(1,423	)		(1,427	)		—			(1,427	)		71
Subtotal		—		5,030,171		—		—		276,265		5,306,436		—			(214,873	)		—			—			(153,884	)		(368,757	)		—			(368,757	)		4,937,679
Total		14,642,540		21,572,544		240,855		255,939		888,826		37,600,704		(148,685	)		(267,651	)		(9,317	)		(74,645	)		(259,539	)		(759,837	)		(9,131	)		(768,968	)		36,831,736

(1) In this item, the Bank finances its clients the acquisition of movable and immovable property through financial lease agreements. As of December 31, 2023 Ch$921,451 million correspond to finance leases on immovable property and Ch$899,995 million correspond to finance leases on movable property.

69

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(e) Contingent loan: At the close of each reporting period, the contingent credit risk exposure is as follows;

	Outstanding exposure before provisions												Provisions established																		Net exposure
	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation									for credit risk of contingent
As of March 31, 2024	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			loans
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Warranty by endorsement and sureties		373,536		648		589		—		—		374,773		(5,561	)		(10	)		(82	)		—			—			(5,653	)		369,120
Letters of credit for goods circulation operations		443,474		318		306		—		—		444,098		(848	)		(2	)		(9	)		—			—			(859	)		443,239
Commitments to purchase local currency debt abroad		—		—		—		—		—		—		—			—			—			—			—			—			—
Contingent event transactions		2,631,290		54,596		60,265		16,981		286		2,763,418		(30,978	)		(580	)		(5,141	)		(5,508	)		(100	)		(42,307	)		2,721,111
Undrawn credit lines with immediate termination		1,443,538		9,124,866		5,625		1,066		7,997		10,583,092		(2,825	)		(4,551	)		(69	)		(637	)		(3,861	)		(11,943	)		10,571,149
Undrawn credit lines		—		—		—		—		—		—		—			—			—			—			—			—			—
Credits for Higher Education Law No. 20,027 (CAE)		—		—		—		—		—		—		—			—			—			—			—			—			—
Other irrevocable loan commitments		121,041		—		—		—		—		121,041		(4,517	)		—			—			—			—			(4,517	)		116,524
Other contingent loans		—		—		—		—		—		—		—			—			—			—			—			—			—
Total		5,012,879		9,180,428		66,785		18,047		8,283		14,286,422		(44,729	)		(5,143	)		(5,301	)		(6,145	)		(3,961	)		(65,279	)		14,221,143

	Outstanding exposure before provisions												Provisions established																		Net exposure
	Normal Portfolio Evaluation				Substandard Portfolio Evaluation		Non-Complying Portfolio Evaluation						Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation									for credit risk of contingent
As of December 31, 2023	Individual		Group		Individual		Individual		Group		Total		Individual			Group			Individual			Individual			Group			Total			loans
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Warranty by endorsement and sureties		350,420		586		525		—		—		351,531		(4,511	)		(9	)		(73	)		—			—			(4,593	)		346,938
Letters of credit for goods circulation operations		350,122		482		—		—		—		350,604		(863	)		(2	)		—			—			—			(865	)		349,739
Commitments to purchase local currency debt abroad		—		—		—		—		—		—		—			—			—			—			—			—			—
Contingent event transactions		2,524,034		52,140		45,876		17,885		362		2,640,297		(29,397	)		(525	)		(3,887	)		(5,545	)		(110	)		(39,464	)		2,600,833
Undrawn credit lines with immediate termination		1,446,599		8,623,438		5,224		976		8,221		10,084,458		(2,736	)		(4,431	)		(57	)		(557	)		(4,009	)		(11,790	)		10,072,668
Undrawn credit lines		—		—		—		—		—		—		—			—			—			—			—			—			—
Credits for Higher Education Law No. 20,027 (CAE)		—		—		—		—		—		—		—			—			—			—			—			—			—
Other irrevocable loan commitments		120,545		—		—		—		—		120,545		(4,515	)		—			—			—			—			(4,515	)		116,030
Other contingent loans		—		—		—		—		—		—		—			—			—			—			—			—			—
Total		4,791,720		8,676,646		51,625		18,861		8,583		13,547,435		(42,022	)		(4,967	)		(4,017	)		(6,102	)		(4,119	)		(61,227	)		13,486,208

70

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions:

Summary of changes in due from banks provisions constituted by credit risk portfolio in the period:

	Changes in provisions constituted by portfolio in the period
	Individual Evaluation
	Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio		Total
Loans and advances to Banks	MCh$			MCh$		MCh$		MCh$
Balance as of January 1, 2024		751			—		—		751
Allowances established/ released:
Change in measurement without portfolio reclassification during the period		87			—		—		87
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		—			—		—		—
Transfer from Normal individual to Non-Complying individual		—			—		—		—
Transfer from Substandard to Non-Complying individual		—			—		—		—
Transfer from Substandard to Normal individual		—			—		—		—
Transfer from Non-Complying individual to Substandard		—			—		—		—
Transfer from Non-Complying individual to Normal individual		—			—		—		—
New assets originated		250			—		—		250
New credits for conversion of contingent to loan		—			—		—		—
New assets purchased		—			—		—		—
Sales or transfers of credits		—			—		—		—
Payment of credit		(337	)		—		—		(337	)
Provisions for write-offs		—			—		—		—
Recovery of written-off loans		—			—		—		—
Foreign exchange differences		85			—		—		85
Other changes in allowances		—			—		—		—
Balance as of March 31, 2024		836			—		—		836

	Changes in provisions constituted by portfolio in the year
	Individual Evaluation
	Normal Portfolio			Substandard Portfolio		Non-Complying Portfolio		Total
Loans and advances to Banks	MCh$			MCh$		MCh$		MCh$
Balance as of January 1, 2023		677			—		—		677
Allowances established/ released:
Change in measurement without portfolio reclassification during the year		(194	)		—		—		(194	)
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		—			—		—		—
Transfer from Normal individual to Non-Complying individual		—			—		—		—
Transfer from Substandard to Non-Complying individual		—			—		—		—
Transfer from Substandard to Normal individual		—			—		—		—
Transfer from Non-Complying individual to Substandard		—			—		—		—
Transfer from Non-Complying individual to Normal individual		—			—		—		—
New assets originated		1,741			—		—		1,741
New credits for conversion of contingent to loan		—			—		—		—
New assets purchased		—			—		—		—
Sales or transfers of credits		—			—		—		—
Payment of credit		(1,486	)		—		—		(1,486	)
Provisions for write-offs		—			—		—		—
Recovery of written-off loans		—			—		—		—
Foreign exchange differences		13			—		—		13
Other changes in allowances		—			—		—		—
Balance as of December 31, 2023		751			—		—		751

71

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions, continued:

Summary of changes in commercial loan provisions constituted by credit risk portfolio in the period;

	Changes in provisions constituted by portfolio in the period
	Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties
	Evaluation						Evaluation			Evaluation									FOGAPE
	Individual			Grupal			Individual			Individual			Grupal			Sub total			Covid-19			Total
Commercial loans	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Balance as of January 1, 2024		148,685			36,590			9,317			74,645			87,837			357,074			9,131			366,205
Provisions established/ released:
Change in measurement without portfolio reclassification during the period		7,130			5,530			391			5,180			3,045			21,276			—			21,276
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(833	)		—			1,639			—			—			806			—			806
Transfer from Normal individual to Non-Complying individual		(14	)		—			—			196			—			182			—			182
Transfer from Substandard to Non-Complying individual		—			—			(1,360	)		4,858			—			3,498			—			3,498
Transfer from Substandard to Normal individual		5			—			—			—			—			5			—			5
Transfer from Non-Complying individual to Substandard		—			—			52			(163	)		—			(111	)		—			(111	)
Transfer from Non-Complying individual to Normal individual		—			—			—			(3	)		—			(3	)		—			(3	)
Transfer from Normal group to Non-Complying group		—			(4,105	)		—			—			10,762			6,657			—			6,657
Transfer from Non-Complying group to Normal group		—			174			—			—			(2,262	)		(2,088	)		—			(2,088	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying)		—			—			—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		150			(213	)		91			2			—			30			—			30
New assets originated		57,299			5,754			1,347			2,529			3,917			70,846			—			70,846
New credits for conversion of contingent to loan		3,642			2,202			267			532			219			6,862			—			6,862
New assets purchased		—			—			—			—			—			—			—			—
Sales or transfers of credits		—			—			—			—			—			—			—			—
Payment of credit		(59,052	)		(8,698	)		(2,582	)		(6,063	)		(7,143	)		(83,538	)		—			(83,538	)
Provisions for write-offs		—			—			—			(8,320	)		(4,671	)		(12,991	)		—			(12,991	)
Recovery of written-off loans		—			9			—			—			—			9			—			9
Changes to models and assumptions		—			—			—			—			—			—			—			—
Foreign exchange differences		6,857			159			205			2,006			186			9,413			—			9,413
Other changes in allowances		—			—			—			—			—			—			(2,302	)		(2,302	)
Balance as of March 31, 2024		163,869			37,402			9,367			75,399			91,890			377,927			6,829			384,756

72

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions, continued:

	Changes in provisions constituted by portfolio in the year
	Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties
	Evaluation						Evaluation			Evaluation									FOGAPE
	Individual			Group			Individual			Individual			Group			Sub total			Covid-19			Total
Commercial loans	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Balance as of January 1, 2023		152,467			42,021			20,797			75,935			90,237			381,457			32,743			414,200
Provisions established/ released:
Change in measurement without portfolio reclassification during the year		(32,144	)		(540	)		(1,511	)		19,717			31,937			17,459			—			17,459
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(2,845	)		—			4,966			—			—			2,121			—			2,121
Transfer from Normal individual to Non-Complying individual		(80	)		—			—			1,191			—			1,111			—			1,111
Transfer from Substandard to Non-Complying individual		—			—			(4,560	)		16,310			—			11,750			—			11,750
Transfer from Substandard to Normal individual		903			—			(12,685	)		—			—			(11,782	)		—			(11,782	)
Transfer from Non-Complying individual to Substandard		—			—			166			(557	)		—			(391	)		—			(391	)
Transfer from Non-Complying individual to Normal individual		—			—			—			(17	)		—			(17	)		—			(17	)
Transfer from Normal group to Non-Complying group		—			(16,099	)		—			—			41,808			25,709			—			25,709
Transfer from Non-Complying group to Normal group		—			676			—			—			(10,938	)		(10,262	)		—			(10,262	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying)		—			—			—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		847			(839	)		84			66			(143	)		15			—			15
New assets originated		200,453			21,387			6,361			8,712			14,659			251,572			—			251,572
New credits for conversion of contingent to loan		13,510			8,387			967			1,292			839			24,995			—			24,995
New assets purchased		—			—			—			—			—			—			—			—
Sales or transfers of credits		—			—			—			(342	)		—			(342	)		—			(342	)
Payment of credit		(186,161	)		(18,537	)		(5,352	)		(29,647	)		(45,435	)		(285,132	)		—			(285,132	)
Provisions for write-offs		—			—			—			(18,451	)		(35,184	)		(53,635	)		—			(53,635	)
Recovery of written-off loans		—			89			—			—			—			89			—			89
Changes to models and assumptions		—			—			—			—			—			—			—			—
Foreign exchange differences		1,735			45			84			436			57			2,357			—			2,357
Other changes in allowances		—			—			—			—			—			—			(23,612	)		(23,612	)
Balance as of  December 31,  2023		148,685			36,590			9,317			74,645			87,837			357,074			9,131			366,205

73

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions, continued:

Summary of changes in residential mortgage loan provisions constituted by credit risk portfolio in the period;

	Changes in provisions constituted by portfolio in the period
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
Residential mortgage loans	MCh$			MCh$			MCh$
Balance as of January 1, 2024		16,188			17,818			34,006
Allowances established/ released:
Change in measurement without portfolio reclassification during the period		1,055			265			1,320
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(1,041	)		2,298			1,257
Transfer from Non-Complying group to Normal group		118			(458	)		(340	)
New assets originated		376			30			406
New assets purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(466	)		(868	)		(1,334	)
Provisions for write-offs		—			(98	)		(98	)
Recovery of written-off loans		—			—			—
Changes to models and assumptions		—			—			—
Foreign exchange differences		—			—			—
Other changes in allowances		—			—			—
Balance as of March 31, 2024		16,230			18,987			35,217

	Changes in provisions constituted by portfolio in the year
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
Residential mortgage loans	MCh$			MCh$			MCh$
Balance as of January 1, 2023		15,154			14,149			29,303
Allowances established/ released:
Change in measurement without portfolio reclassification during the year		4,191			884			5,075
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(4,050	)		8,494			4,444
Transfer from Non-Complying group to Normal group		315			(1,901	)		(1,586	)
New assets originated		1,947			90			2,037
New assets purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(1,369	)		(2,889	)		(4,258	)
Provisions for write-offs		—			(1,009	)		(1,009	)
Recovery of written-off loans		—			—			—
Changes to models and assumptions		—			—			—
Foreign exchange differences		—			—			—
Other changes in allowances		—			—			—
Balance as of December 31, 2023		16,188			17,818			34,006

74

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions, continued:

Summary of changes in consumer loan provisions constituted by credit risk portfolio in the period;

	Changes in provisions constituted by portfolio in the period
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
Consumer loans	MCh$			MCh$			MCh$
Balance as of January 1, 2024		214,873			153,884			368,757
Allowances established/ released:
Change in measurement without portfolio reclassification during the period		28,508			29,514			58,022
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(35,351	)		44,580			9,229
Transfer from Non-Complying group to Normal group		3,116			(7,482	)		(4,366	)
New assets originated		23,623			19,338			42,961
New credits for conversion of contingent to loan		19,651			656			20,307
New assets purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(48,793	)		(26,222	)		(75,015	)
Provisions for write-offs		(32	)		(53,891	)		(53,923	)
Recovery of written-off loans		532			—			532
Changes to models and assumptions		—			—			—
Foreign exchange differences		111			3			114
Other changes in allowances		—			—			—
Balance as of March 31, 2024		206,238			160,380			366,618

	Changes in provisions constituted by portfolio in the year
	Group Evaluation
	Normal Portfolio			Non-Complying Portfolio			Total
Consumer loans	MCh$			MCh$			MCh$
Balance as of January 1, 2023		200,043			134,846			334,889
Allowances established/ released:
Change in measurement without portfolio reclassification during the year		16,274			187,408			203,682
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal group to Non-Complying group		(136,022	)		178,062			42,040
Transfer from Non-Complying group to Normal group		10,646			(33,033	)		(22,387	)
New assets originated		126,858			92,820			219,678
New credits for conversion of contingent to loan		81,701			3,970			85,671
New assets purchased		—			—			—
Sales or transfers of credits		—			—			—
Payment of credit		(86,983	)		(209,362	)		(296,345	)
Provisions for write-offs		—			(200,849	)		(200,849	)
Recovery of written-off loans		2,345			—			2,345
Changes to models and assumptions		—			—			—
Foreign exchange differences		11			22			33
Other changes in allowances		—			—			—
Balance as of December 31, 2023		214,873			153,884			368,757

75

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

(f) Provisions, continued:

Summary of changes in contingent credit risk provisions constituted by credit risk portfolio in the period;

	Changes in provisions constituted by portfolio in the period
	Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation
	Individual			Group			Individual			Individual			Group			Total
Contingent loan exposure	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Balance as of January 1, 2024		42,022			4,967			4,017			6,102			4,119			61,227
Provisions established/ released:
Change in measurement without portfolio reclassification during the period		7,747			1,024			50			772			662			10,255
Change in measurement without portfolio reclassification from the beginning to the end of the period (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(20	)		—			39			—			—			19
Transfer from Normal individual to Non-Complying individual		(2	)		—			—			22			—			20
Transfer from Substandard to Non-Complying individual		—			—			(42	)		192			—			150
Transfer from Substandard to Normal individual		1			—			(3	)		—			—			(2	)
Transfer from Non-Complying individual to Substandard		—			—			4			(40	)		—			(36	)
Transfer from Non-Complying individual to Normal individual		—			—			—			—			—			—
Transfer from Normal group to Non-Complying group		—			(29	)		—			—			521			492
Transfer from Non-Complying group to Normal group		—			(7	)		—			—			(468	)		(475	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying )		—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		4			(8	)		—			—			—			(4	)
New contingent loan granted		9,159			376			6,350			182			114			16,181
Contingent credits for conversion		(262	)		(738	)		(52	)		(112	)		(473	)		(1,637	)
Changes to models and assumptions		—			—			—			—			—			—
Foreign exchange differences		928			202			11			22			188			1,351
Other changes in provisions		(14,848	)		(644	)		(5,073	)		(995	)		(702	)		(22,262	)
Balance as of March 31, 2024		44,729			5,143			5,301			6,145			3,961			65,279

	Changes in provisions constituted by portfolio in the year
	Normal Portfolio Evaluation						Substandard Portfolio Evaluation			Non-Complying Portfolio Evaluation
	Individual			Group			Individual			Individual			Group			Total
Contingent loan exposure	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Balance as of January 1, 2023		31,717			4,658			10,925			4,018			6,059			57,377
Provisions established/ released:
Change in measurement without portfolio reclassification during the year		(933	)		(287	)		(37	)		(26	)		(617	)		(1,900	)
Change in measurement without portfolio reclassification from the beginning to the end of the year (portfolio from (-) until (+)):
Transfer from Normal individual to Substandard		(371	)		—			783			—			—			412
Transfer from Normal individual to Non-Complying individual		(7	)		—			—			313			—			306
Transfer from Substandard to Non-Complying individual		—			—			(391	)		1,842			—			1,451
Transfer from Substandard to Normal individual		1,131			—			(3,493	)		—			—			(2,362	)
Transfer from Non-Complying individual to Substandard		—			—			2			(65	)		—			(63	)
Transfer from Non-Complying individual to Normal individual		—			—			—			(45	)		—			(45	)
Transfer from Normal group to Non-Complying group		—			(111	)		—			—			2,164			2,053
Transfer from Non-Complying group to Normal group		—			4			—			—			(2,811	)		(2,807	)
Transfer from Individual (normal, substandard, non-complying) to Group (normal, non-complying )		—			—			—			—			—			—
Transfer from Group (normal, non-complying) to Individual (normal, substandard, non-complying)		52			(43	)		1			5			(11	)		4
New contingent loan granted		30,168			1,567			11,696			1,463			587			45,481
Contingent credits for conversion		(235	)		(349	)		(60	)		(222	)		(316	)		(1,182	)
Changes to models and assumptions		—			—			—			—			—			—
Foreign exchange differences		223			1			(172	)		—			73			125
Other changes in provisions		(19,723	)		(473	)		(15,237	)		(1,181	)		(1,009	)		(37,623	)
Balance as of December 31, 2023		42,022			4,967			4,017			6,102			4,119			61,227

76

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

13. Financial assets at amortized cost, continued:

In addition to these provisions for credit risk, country risk provisions are maintained to cover foreign operations and additional provisions agreed by the Board of Directors, which are presented in liabilities under the item Special provisions for credit risk (See Note No. 26).

Other disclosures:

As of March 31, 2024, under the Commercial Loans item, operations are maintained that guarantee obligations maintained with the Central Bank of Chile as part of the Loan Increase Conditional Credit Facility (FCIC by its Spanish initials) program for an approximate amount of Ch$2,414,670 million (Ch$2,573,423 million in December 2023).

77

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

g) Industry sector:

At the closing of each reporting period, the composition of economic activity for loans, contingent loans exposure and provisions constituted are as follows:

	Credit and Contingent loans Exposure						Allowances Established
	Domestic loans		Foreign loans		Total	Total	Domestic loans				Foreign loans				Total		Total
	March	December	March	December	March	December	March		December		March		December		March		December
	2024	2023	2024	2023	2024	2023	2024		2023		2024		2023		2024		2023
	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Loans and advances to Banks	800,467	2,100,933	417,116	418,998	1,217,583	2,519,931	—		—		(836	)	(751	)	(836	)	(751	)
Commercial loans
Agriculture and livestock	784,847	787,718	—	—	784,847	787,718	(11,965	)	(12,486	)	—		—		(11,965	)	(12,486	)
Fruit	694,695	645,470	—	—	694,695	645,470	(12,227	)	(10,933	)	—		—		(12,227	)	(10,933	)
Forestry	100,566	101,243	—	—	100,566	101,243	(2,999	)	(2,788	)	—		—		(2,999	)	(2,788	)
Fishing	33,314	26,296	—	—	33,314	26,296	(3,203	)	(2,543	)	—		—		(3,203	)	(2,543	)
Mining	468,682	417,025	—	—	468,682	417,025	(5,344	)	(4,227	)	—		—		(5,344	)	(4,227	)
Oil and natural gas	949	416	—	—	949	416	(9	)	(10	)	—		—		(9	)	(10	)
Product manufacturing industries;
Foods, beverages and tobacco	569,852	512,732	—	—	569,852	512,732	(16,710	)	(13,658	)	—		—		(16,710	)	(13,658	)
Textiles, leather goods and footwear	31,183	33,011	—	—	31,183	33,011	(893	)	(865	)	—		—		(893	)	(865	)
Woods and furnitures	93,045	78,287	—	—	93,045	78,287	(2,641	)	(2,065	)	—		—		(2,641	)	(2,065	)
Cellulose, Paper  and printing	16,908	16,715	—	—	16,908	16,715	(717	)	(721	)	—		—		(717	)	(721	)
Chemicals and petroleum products	311,582	298,712	—	—	311,582	298,712	(6,933	)	(6,516	)	—		—		(6,933	)	(6,516	)
Metal, non-metal, machine or others	679,697	551,244	—	—	679,697	551,244	(12,536	)	(12,082	)	—		—		(12,536	)	(12,082	)
Electricity, gas and water	427,959	438,098	1,519	1,326	429,478	439,424	(3,957	)	(3,908	)	(65	)	(57	)	(4,022	)	(3,965	)
Residential construction	247,976	262,452	—	—	247,976	262,452	(8,610	)	(9,369	)			—		(8,610	)	(9,369	)
Non-residential construction (office, civil engineering)	433,705	407,175	—	—	433,705	407,175	(11,435	)	(11,125	)	—		—		(11,435	)	(11,125	)
Wholesale	1,731,878	1,794,264	—	—	1,731,878	1,794,264	(50,531	)	(49,374	)	—		—		(50,531	)	(49,374	)
Retail, restaurants and hotels	1,020,961	1,011,484	—	—	1,020,961	1,011,484	(41,847	)	(38,314	)	—		—		(41,847	)	(38,314	)
Transport and storage	1,066,660	1,101,603	—	—	1,066,660	1,101,603	(20,843	)	(20,777	)	—		—		(20,843	)	(20,777	)
Communications	111,370	102,052	—	—	111,370	102,052	(2,953	)	(2,395	)	—		—		(2,953	)	(2,395	)
Financial services	3,263,461	3,219,723	—	—	3,263,461	3,219,723	(28,491	)	(28,040	)	—		—		(28,491	)	(28,040	)
Business services	1,916,927	1,969,605	—	—	1,916,927	1,969,605	(51,499	)	(51,697	)	—		—		(51,499	)	(51,697	)
Real estate services	3,409,557	3,359,135	21,791	19,931	3,431,348	3,379,066	(22,764	)	(20,378	)	(1,143	)	(1,066	)	(23,907	)	(21,444	)
Student loans	55,300	56,636	—	—	55,300	56,636	(5,037	)	(5,093	)	—		—		(5,037	)	(5,093	)
Government administration, defence and police force	20,069	21,434	—	—	20,069	21,434	(261	)	(288	)	—		—		(261	)	(288	)
Social services and other  community services	834,585	899,492	—	—	834,585	899,492	(14,981	)	(14,483	)	—		—		(14,981	)	(14,483	)
Personal services	1,909,139	1,857,835	—	—	1,909,139	1,857,835	(44,162	)	(40,947	)	—		—		(44,162	)	(40,947	)
Subtotal	20,234,867	19,969,857	23,310	21,257	20,258,177	19,991,114	(383,548	)	(365,082	)	(1,208	)	(1,123	)	(384,756	)	(366,205	)
Residential mortgage loans	12,489,637	12,303,154	—	—	12,489,637	12,303,154	(35,217	)	(34,006	)	—		—		(35,217	)	(34,006	)
Consumer loans	5,341,352	5,306,436	—	—	5,341,352	5,306,436	(366,618	)	(368,757	)	—		—		(366,618	)	(368,757	)
Contingent loan exposure	14,286,422	13,547,435	—	—	14,286,422	13,547,435	(65,279	)	(61,227	)	—		—		(65,279	)	(61,227	)

78

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(h) Residential mortgage loans and its provisions established by insolvent tranche of the loan on the value of the mortgage guarantee (PVG) and days of default respectively:

As of March 31, 2024

Loan Tranche	Residential mortgage loans (MCh$)												Allowances established of Residential mortgage loans (MCh$)
/ Guarantee	Days in default at the end of the period												Days in default at the end of the period
Value (%)	0		1 to 29		30 to 59		60 to 89		>  = 90		Total		0			1 to 29			30 to 59			60 to 89			>  = 90			Total
PVG <=40%		1,733,685		31,418		13,411		4,302		13,205		1,796,021		(1,257	)		(397	)		(339	)		(162	)		(728	)		(2,883	)
40% < PVG <= 80%		9,131,890		223,013		95,064		40,908		117,268		9,608,143		(10,323	)		(3,681	)		(2,888	)		(1,555	)		(6,905	)		(25,352	)
80% < PVG <= 90%		507,938		10,225		5,289		3,514		9,483		536,449		(1,655	)		(370	)		(352	)		(341	)		(1,612	)		(4,330	)
PVG > 90%		539,434		2,432		2,123		1,229		3,806		549,024		(1,476	)		(76	)		(140	)		(103	)		(857	)		(2,652	)
Total		11,912,947		267,088		115,887		49,953		143,762		12,489,637		(14,711	)		(4,524	)		(3,719	)		(2,161	)		(10,102	)		(35,217	)

As of December 31, 2023

Loan Tranche	Residential mortgage loans (MCh$)												Allowances established of Residential mortgage loans (MCh$)
/ Guarantee	Days in default at the end of the year												Days in default at the end of the year
Value (%)	0		1 to 29		30 to 59		60 to 89		>  = 90		Total		0			1 to 29			30 to 59			60 to 89			>  = 90			Total
PVG <=40%		1,681,930		24,754		10,259		5,119		12,398		1,734,460		(1,265	)		(341	)		(289	)		(179	)		(688	)		(2,762	)
40% < PVG <= 80%		9,095,085		198,906		85,417		38,587		106,142		9,524,137		(10,392	)		(3,541	)		(2,619	)		(1,491	)		(6,235	)		(24,278	)
80% < PVG <= 90%		504,787		12,757		5,103		3,610		8,395		534,652		(1,662	)		(477	)		(430	)		(379	)		(1,423	)		(4,371	)
PVG > 90%		501,652		2,272		1,231		454		4,296		509,905		(1,490	)		(82	)		(67	)		(20	)		(936	)		(2,595	)
Total		11,783,454		238,689		102,010		47,770		131,231		12,303,154		(14,809	)		(4,441	)		(3,405	)		(2,069	)		(9,282	)		(34,006	)

79

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(i) Loans and advances to Banks and Commercial loans and their allowances established by classification category:

Below is the concentration of loans and advances to banks and commercial loans and their provisions constituted by classification category:

	Individual																																																											Group												Provisions of
	Normal Portfolio																				Substandard Portfolio															Non-Complying Portfolio																																				deductible
As of March 31, 2024	A1		A2			A3			A4			A5			A6			Subtotal			B1			B2			B3			B4			Subtotal			C1			C2			C3			C4			C5			C6			Subtotal			Total			Portfolio Normal			Portfolio Non-Complying			Total			Total			warranties Fogape Covid 19
	MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
Interbank loans for liquidity		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Interbank commercial loans		—		—			269,659			—			—			—			269,659			—			—			—			—			—			—			—			—			—			—			—			—			269,659			—			—			—			269,659			—
Current accounts overdrafts		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Chilean exports foreign trade loans		310		110,869			31,367			4,911			—			—			147,457			—			—			—			—			—			—			—			—			—			—			—			—			147,457			—			—			—			147,457			—
Chilean imports foreign trade loans		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Foreign trade loans between third countries		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account deposits in foreign banks for derivative operations		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other non-transferable deposits in banks		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other debts with banks		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Subtotal		310		110,869			301,026			4,911			—			—			417,116			—			—			—			—			—			—			—			—			—			—			—			—			417,116			—			—			—			417,116			—
Allowances established		—		91			659			86			—			—			836			—			—			—			—			—			—			—			—			—			—			—			—			836			—			—			—			836			—
% Allowances established		—		0.08	%		0.22	%		1.75	%		—			—			0.20	%		—			—			—			—			—			—			—			—			—			—			—			—			0.20	%		—			—			—			0.20	%		—
Commercial loans
Commercial loans		—		1,103,817			1,923,107			2,333,345			3,387,933			2,097,431			10,845,633			120,085			36,601			20,795			7,837			185,318			65,311			47,778			20,660			21,748			16,919			24,088			196,504			11,227,455			3,826,477			333,839			4,160,316			15,387,771			6,391
Chilean exports foreign trade loans		—		245,917			329,409			275,348			277,155			223,261			1,351,090			2,963			—			613						3,576			3,260						310			3,239			364			2,824			9,997			1,364,663			3,911			355			4,266			1,368,929			—
Accrediting foreign trade loans negotiated in terms of Chilean imports		—		—			—			—			—			93			93			—			—			—			—			—			—			—			—			—			—			—			—			93			—			—			—			93			—
Chilean imports foreign trade loans		—		9,860			90,042			87,267			131,570			182,926			501,665			10,490			163			1,094			—			11,747			385			—			51			7			302			1,916			2,661			516,073			45,594			2,768			48,362			564,435			—
Foreign trade credits to third countries		—		27			—			—			151			—			178			—			—			—			—			—			—			—			—			—			—			—			—			178			—			—			—			178			—
Current account debtors		—		7,965			15,390			32,989			19,597			24,465			100,406			2,521			2,514			224			164			5,423			276			1,814			53			514			720			1,447			4,824			110,653			90,278			1,808			92,086			202,739			—
Credit card debtors		—		532			1,758			3,328			9,156			8,800			23,574			732			361			86			26			1,205			161			111			37			130			189			522			1,150			25,929			75,722			9,526			85,248			111,177			—
Factoring transactions		1,227		134,171			152,459			83,903			141,729			89,878			603,367			6,458			31			187						6,676						561			6									403			970			611,013			36,703			222			36,925			647,938			—
Commercial lease transactions		—		55,705			51,543			356,390			549,146			511,904			1,524,688			20,261			6,797			4,919			135			32,112			3,989			27,818			1,622			4,410			976			260			39,075			1,595,875			280,371			14,240			294,611			1,890,486			438
Student loans		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			51,219			4,081			55,300			55,300			—
Other loans and accounts receivable		—		411			1,998			1,149			2,407			1,985			7,950			66			82			4			2			154			156			97			95			10			1,358			7,249			8,965			17,069			10,724			1,338			12,062			29,131			—
Subtotal		1,227		1,558,405			2,565,706			3,173,719			4,518,844			3,140,743			14,958,644			163,576			46,549			27,922			8,164			246,211			73,538			78,179			22,834			30,058			20,828			38,709			264,146			15,469,001			4,420,999			368,177			4,789,176			20,258,177			—
Allowances established		—		977			4,141			31,296			48,214			79,241			163,869			4,102			1,452			3,489			324			9,367			1,471			7,818			5,708			12,023			13,538			34,841			75,399			248,635			37,402			91,890			129,292			377,927			6,829
% Allowances established		—		0.06	%		0.16	%		0.99	%		1.07	%		2.52	%		1.10	%		2.51	%		3.12	%		12.50	%		3.97	%		3.80	%		2.00	%		10.00	%		25.00	%		40.00	%		65.00	%		90.01	%		28.54	%		1.61	%		0.85	%		24.96	%		2.70	%		1.87	%

80

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(i) Loans and advances to Banks and Commercial loans and their allowances established by classification category, continued:

	Individual																																																												Group												Provisions of
	Normal Portfolio																					Substandard Portfolio															Non-Complying Portfolio																																				deductible
As of December 31, 2023	A1			A2			A3			A4			A5			A6			Subtotal			B1			B2			B3			B4			Subtotal			C1			C2			C3			C4			C5			C6			Subtotal			Total			Portfolio Normal			Portfolio Non-Complying			Total			Total			warranties Fogape Covid 19
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
Interbank loans for liquidity		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Interbank commercial loans		—			—			205,362			—			—			—			205,362			—			—			—			—			—			—			—			—			—			—			—			—			205,362			—			—			—			205,362			—
Current accounts overdrafts		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Chilean exports foreign trade loans		18,158			179,044			11,553			4,372			—			509			213,636			—			—			—			—			—			—			—			—			—			—			—			—			213,636			—			—			—			213,636			—
Chilean imports foreign trade loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Foreign trade loans between third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account deposits in foreign banks for derivative operations		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other non-transferable deposits in banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Other debts with banks		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Subtotal		18,158			179,044			216,915			4,372			—			509			418,998			—			—			—			—			—			—			—			—			—			—			—			—			418,998			—			—			—			418,998			—
Allowances established		7			147			474			77			—			46			751			—			—			—			—			—			—			—			—			—			—			—			—			751			—			—			—			751			—
% Allowances established		0.04	%		0.08	%		0.22	%		1.76	%		—			9.04	%		0.18	%		—			—			—			—			—			—			—			—			—			—			—			—			0.18	%		—			—			—			0.18	%		—
Commercial loans
Commercial loans		—			1,216,977			1,912,516			2,298,992			3,333,215			2,093,899			10,855,599			122,172			33,525			23,759			5,788			185,244			64,783			47,719			20,668			21,351			15,543			27,297			197,361			11,238,204			3,910,753			321,133			4,231,886			15,470,090			8,604
Chilean exports foreign trade loans		—			147,251			361,058			200,803			250,515			162,400			1,122,027			2,429			2,709			534			—			5,672			204			—			276			2,898			324			2,820			6,522			1,134,221			3,629			158			3,787			1,138,008			—
Accrediting foreign trade loans negotiated in terms of Chilean imports		—			—			—			—			—			94			94			—			—			—			—			—			—			—			—			—			—			—			—			94			—			—			—			94			—
Chilean imports foreign trade loans		—			9,724			75,779			170,551			126,062			147,851			529,967			6,437			147			—			—			6,584			346			—			—			15			260			1,481			2,102			538,653			41,565			2,545			44,110			582,763
Foreign trade credits to third countries		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—
Current account debtors		—			5,022			8,922			30,953			18,244			22,068			85,209			1,744			2,804			188			93			4,829			329			1,780			71			129			409			1,021			3,739			93,777			90,883			1,855			92,738			186,515			—
Credit card debtors		—			390			1,667			3,183			8,116			7,997			21,353			657			355			20			24			1,056			135			72			61			104			213			448			1,033			23,442			71,726			8,537			80,263			103,705			—
Factoring transactions		2,824			82,284			140,881			88,002			146,089			98,236			558,316			5,258			—			—			—			5,258			59			9			—									385			453			564,027			39,021			183			39,204			603,231			—
Commercial lease transactions		—			57,799			50,596			348,083			512,701			493,379			1,462,558			21,050			6,150			4,462			355			32,017			3,227			27,316			1,221			3,140			412			209			35,525			1,530,100			277,280			13,686			290,966			1,821,066			527
Student loans		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			52,521			4,114			56,635			56,635			—
Other loans and accounts receivable		—			375			1,752			1,085			2,068			2,137			7,417			137			55			3			—			195			217			78			93			336			1,233			7,247			9,204			16,816			10,895			1,296			12,191			29,007			—
Subtotal		2,824			1,519,822			2,553,171			3,141,652			4,397,010			3,028,061			14,642,540			159,884			45,745			28,966			6,260			240,855			69,300			76,974			22,390			27,973			18,394			40,908			255,939			15,139,334			4,498,273			353,507			4,851,780			19,991,114			—
Allowances established		1			941			4,094			29,970			42,675			71,004			148,685			3,436			1,515			3,883			483			9,317			1,386			7,697			5,597			11,190			11,957			36,818			74,645			232,647			36,590			87,837			124,427			357,074			9,131
% Allowances established		0.04	%		0.06	%		0.16	%		0.95	%		0.97	%		2.34	%		1.02	%		2.15	%		3.31	%		13.41	%		7.72	%		3.87	%		2.00	%		10.00	%		25.00	%		40.00	%		65.00	%		90.00	%		29.17	%		1.54	%		0.81	%		24.85	%		2.56	%		1.79	%

81

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(j) Loans and their provisions for loan losses by tranches of days past-due:

The concentration of credit risk by days past due is as follows;

	Financial assets before allowances												Allowances established
	Normal Portfolio				Substandard Portfolio		Non-Complying Portfolio						Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties						Net
	Evaluation				Evaluation		Evaluation						Evaluation						Evaluation			Evaluation									FOGAPE						Financial
As of March 31, 2024	Individual		Group		Individual		Individual		Group		Sub Total		Individual			Group			Individual			Individual			Group			Sub Total			Covid-19			Total			Assets
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
0 days		391,370		—		—		—		—		391,370		(786	)		—			—			—			—			(786	)		—			(786	)
1 to 29 days		25,746		—		—		—		—		25,746		(50	)		—			—			—			—			(50	)		—			(50	)
30 to 59 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
60 to 89 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
>  = 90 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
Subtotal		417,116		—		—		—		—		417,116		(836	)		—			—			—			—			(836	)		—			(836	)		416,280
Commercial loans
0 days		14,670,953		4,203,615		196,600		100,841		84,208		19,256,217		(160,570	)		(27,909	)		(6,942	)		(23,403	)		(17,759	)		(236,583	)		(6,388	)		(242,971	)
1 to 29 days		258,146		160,180		22,634		17,432		34,498		492,890		(3,201	)		(4,855	)		(936	)		(3,656	)		(6,311	)		(18,959	)		(247	)		(19,206	)
30 to 59 days		29,491		44,981		16,786		6,551		33,962		131,771		(97	)		(3,273	)		(578	)		(1,738	)		(6,736	)		(12,422	)		(54	)		(12,476	)
60 to 89 days		54		12,223		10,191		4,848		23,858		51,174		(1	)		(1,365	)		(911	)		(1,281	)		(4,778	)		(8,336	)		(30	)		(8,366	)
>  = 90 days		—		—		—		134,474		191,651		326,125		—			—			—			(45,321	)		(56,306	)		(101,627	)		(110	)		(101,737	)
Subtotal		14,958,644		4,420,999		246,211		264,146		368,177		20,258,177		(163,869	)		(37,402	)		(9,367	)		(75,399	)		(91,890	)		(377,927	)		(6,829	)		(384,756	)		19,873,421
Residential mortgage loans
0 days		—		11,860,294		—		—		52,653		11,912,947		—			(11,135	)		—			—			(3,576	)		(14,711	)		—			(14,711	)
1 to 29 days		—		236,672		—		—		30,416		267,088		—			(2,602	)		—			—			(1,922	)		(4,524	)		—			(4,524	)
30 to 59 days		—		84,861		—		—		31,026		115,887		—			(1,640	)		—			—			(2,079	)		(3,719	)		—			(3,719	)
60 to 89 days		—		31,188		—		—		18,765		49,953		—			(853	)		—			—			(1,308	)		(2,161	)		—			(2,161	)
>  = 90 days		—		—		—		—		143,762		143,762		—			—			—			—			(10,102	)		(10,102	)		—			(10,102	)
Subtotal		—		12,213,015		—		—		276,622		12,489,637		—			(16,230	)		—			—			(18,987	)		(35,217	)		—			(35,217	)		12,454,420
Consumer loans
0 days		—		4,786,822		—		—		99,029		4,885,851		—			(151,010	)		—			—			(49,036	)		(200,046	)		—			(200,046	)
1 to 29 days		—		185,724		—		—		30,026		215,750		—			(30,868	)		—			—			(16,411	)		(47,279	)		—			(47,279	)
30 to 59 days		—		58,194		—		—		32,534		90,728		—			(16,381	)		—			—			(19,592	)		(35,973	)		—			(35,973	)
60 a 89 days		—		20,574		—		—		26,275		46,849		—			(7,979	)		—			—			(14,765	)		(22,744	)		—			(22,744	)
>  = 90 days		—		—		—		—		102,174		102,174		—			—			—			—			(60,576	)		(60,576	)		—			(60,576	)
Subtotal		—		5,051,314		—		—		290,038		5,341,352		—			(206,238	)		—			—			(160,380	)		(366,618	)		—			(366,618	)		4,974,734
Total Loans		15,375,760		21,685,328		246,211		264,146		934,837		38,506,282		(164,705	)		(259,870	)		(9,367	)		(75,399	)		(271,257	)		(780,598	)		(6,829	)		(787,427	)		37,718,855

82

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(j) Loans and their provisions for loan losses by number of days past-due, continued:

	Financial assets before allowances												Allowances established
	Normal Portfolio				Substandard Portfolio		Non-Complying Portfolio						Normal Portfolio						Substandard Portfolio			Non-Complying Portfolio									Deductible Warranties						Net
	Evaluation				Evaluation		Evaluation						Evaluation						Evaluation			Evaluation									FOGAPE						Financial
As of December 31, 2023	Individual		Group		Individual		Individual		Group		Sub Total		Individual			Group			Individual			Individual			Group			Sub Total			Covid-19			Total			Assets
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Loans and advances to Banks
0 days		331,230		—		—		—		—		331,230		(687	)		—			—			—			—			(687	)		—			(687	)
1 to 29 days		87,768		—		—		—		—		87,768		(64	)		—			—			—			—			(64	)		—			(64	)
30 to 59 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
60 to 89 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
>  = 90 days		—		—		—		—		—		—		—			—			—			—			—			—			—			—
Subtotal		418,998		—		—		—		—		418,998		(751	)		—			—			—			—			(751	)		—			(751	)		418,247
Commercial loans
0 days		14,476,238		4,327,340		197,115		90,648		94,559		19,185,900		(146,690	)		(28,206	)		(8,043	)		(20,577	)		(19,228	)		(222,744	)		(8,700	)		(231,444	)
1 to 29 days		153,429		117,335		26,506		9,799		28,281		335,350		(1,805	)		(3,913	)		(894	)		(1,502	)		(5,176	)		(13,290	)		(175	)		(13,465	)
30 to 59 days		12,857		42,252		13,106		18,285		28,894		115,394		(189	)		(3,012	)		(339	)		(3,236	)		(5,519	)		(12,295	)		(89	)		(12,384	)
60 to 89 days		16		11,346		4,128		8,628		21,846		45,964		(1	)		(1,459	)		(41	)		(978	)		(4,313	)		(6,792	)		(14	)		(6,806	)
>  = 90 days		—		—		—		128,579		179,927		308,506		—			—			—			(48,352	)		(53,601	)		(101,953	)		(153	)		(102,106	)
Subtotal		14,642,540		4,498,273		240,855		255,939		353,507		19,991,114		(148,685	)		(36,590	)		(9,317	)		(74,645	)		(87,837	)		(357,074	)		(9,131	)		(366,205	)		19,624,909
Residential mortgage loans
0 days		—		11,732,316		—		—		51,138		11,783,454		—			(11,327	)		—			—			(3,482	)		(14,809	)		—			(14,809	)
1 to 29 days		—		208,412		—		—		30,277		238,689		—			(2,526	)		—			—			(1,915	)		(4,441	)		—			(4,441	)
30 to 59 days		—		74,184		—		—		27,826		102,010		—			(1,504	)		—			—			(1,901	)		(3,405	)		—			(3,405	)
60 to 89 days		—		29,188		—		—		18,582		47,770		—			(831	)		—			—			(1,238	)		(2,069	)		—			(2,069	)
>  = 90 days		—		—		—		—		131,231		131,231		—			—			—			—			(9,282	)		(9,282	)		—			(9,282	)
Subtotal		—		12,044,100		—		—		259,054		12,303,154		—			(16,188	)		—			—			(17,818	)		(34,006	)		—			(34,006	)		12,269,148
Consumer loans
0 days		—		4,767,941		—		—		91,079		4,859,020		—			(157,194	)		—			—			(46,179	)		(203,373	)		—			(203,373	)
1 to 29 days		—		178,082		—		—		28,154		206,236		—			(30,683	)		—			—			(15,171	)		(45,854	)		—			(45,854	)
30 to 59 days		—		61,487		—		—		32,197		93,684		—			(17,854	)		—			—			(19,548	)		(37,402	)		—			(37,402	)
60 a 89 days		—		22,661		—		—		27,971		50,632		—			(9,142	)		—			—			(15,796	)		(24,938	)		—			(24,938	)
>  = 90 days		—		—		—		—		96,864		96,864		—			—			—			—			(57,190	)		(57,190	)		—			(57,190	)
Subtotal		—		5,030,171		—		—		276,265		5,306,436		—			(214,873	)		—			—			(153,884	)		(368,757	)		—			(368,757	)		4,937,679
Total Loans		15,061,538		21,572,544		240,855		255,939		888,826		38,019,702		(149,436	)		(267,651	)		(9,317	)		(74,645	)		(259,539	)		(760,588	)		(9,131	)		(769,719	)		37,249,983

83

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

13. Financial assets at amortized cost, continued:

(k) Finance lease contracts:

The cash flows to be received by the Bank from finance lease contracts have the following maturities:

	Total receivable				Unearned income						Net balance receivable (*)
	March		December		March			December			March		December
	2024		2023		2024			2023			2024		2023
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Within one year		633,714		610,657		(91,706	)		(88,444	)		542,008		522,213
From 1 to 2 years		471,775		453,713		(66,185	)		(63,079	)		405,590		390,634
From 2 to 3 years		315,547		301,560		(40,970	)		(38,839	)		274,577		262,721
From 3 to 4 years		204,883		199,376		(26,580	)		(25,018	)		178,303		174,358
From 4 to 5 years		138,622		133,011		(18,714	)		(17,248	)		119,908		115,763
After 5 years		398,328		383,050		(40,075	)		(36,064	)		358,253		346,986
Total		2,162,869		2,081,367		(284,230	)		(268,692	)		1,878,639		1,812,675

(*) The net balance receivable does not include past-due portfolio totaling Ch$12,209 million as of March 31, 2024 (Ch$8,771 million in December 2023).

The Bank maintains financial lease operations associated with movable assets, vehicles, industrial machinery, transportation equipment and real estate. These leases contracts have an average term between 2 and 15 years.

(l) Purchase of loan portfolio:

During the period ended as of March 31, 2024 and the year 2023 no portfolio purchases were made.

(m) Sale or transfer of loans from the loan portfolio:

During the period 2024, the following sale were made:

	March 2024
	Carrying amount		Allowances		Sale price		Effect on income (loss) gain
	MM$		MM$		MM$		MM$
Sale of current loans		110		—		110		—
Sale of written – off loans		—		—		—		—
Total		110		—		110		—

There have not been operations of sale or transfer of the loan portfolio during the period March 2023.

(n) Securitization of own assets:

During the period 2024 and the year 2023, there is no securitization transactions executed involving its own assets.

84

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

14. Investments in other companies:

(a) In the item “Investments in other companies” include investments of Ch$77,703 million as of March 31, 2024 (Ch$76,994 million as of December 31, 2023), as follows:

		% Ownership Interest				Assets
		March		December		March		December
Company	Shareholder	2024		2023		2024		2023
Associates		%		%		MCh$		MCh$
Transbank S.A.	Banco de Chile		26.16		26.16		35,026		36,084
Centro de Compensación Automatizado S.A.	Banco de Chile		33.33		33.33		5,138		4,862
Redbanc S.A.	Banco de Chile		38.13		38.13		4,975		4,783
Administrador Financiero de Transantiago S.A.	Banco de Chile		20.00		20.00		4,387		4,285
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile		26.81		26.81		2,455		2,394
Servicios de Infraestructura de Mercado OTC S.A.	Banco de Chile		12.33		12.33		1,813		1,803
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile		15.00		15.00		1,204		1,199
Subtotal Associates							54,998		55,410
Joint Ventures
Servipag Ltda.	Banco de Chile		50.00		50.00		8,291		7,832
Artikos Chile S.A.	Banco de Chile		50.00		50.00		1,981		1,840
Subtotal Joint Ventures							10,272		9,672
Subtotal							65,270		65,082
Minority Investments
Holding Bursátil Regional S.A.(*) (**)	Banchile Corredores de Bolsa						10,318		10,243
Banco Latinoamericano de Comercio Exterior S.A. (Bladex) (**)	Banco de Chile						1,729		1,286
Bolsa Electrónica de Chile, Bolsa de Valores (**)	Banchile Corredores de Bolsa						350		350
Sociedad de Telecomunicaciones Financieras  Interbancarias Mundiales (Swift)	Banco de Chile						28		25
CCLV Contraparte Central S.A.	Banchile Corredores de Bolsa						8		8
Subtotal Minority Investments							12,433		11,912
Total							77,703		76,994

(*) On November 14, 2023, the merger with Sociedad de Infraestructuras de Mercado S.A. (“SIM”) was materialized, being Holding Bursátil Regional S.A. the successor of all its rights and obligations. Additionally, on the same date, a capital increase of the company was carried out, through the contribution of 3,000,000 shares issued by the Santiago Stock Exchange, Stock Market.

(**) Investments in shares have been irrevocably designated as at fair value through other comprehensive income and, therefore, are recorded at market value in accordance with IFRS 9.

(b) The change of investments in companies registered under the equity method in the period of 2024 and 2023, are as follows:

	March			March
	2024			2023
	MCh$			MCh$
Balance as of January 1,		65,082			56,177
Acquisition of investments in companies		—			—
Participation on income in companies with significant influence and joint control		189			1,978
Dividends received		—			—
Others		(1	)		52
Total		65,270			58,207

(c) During the period ended as of March 31, 2024 and 2023 no impairment has incurred in these investments.

85

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

14. Investments in other companies, continued:

(d) Summarized Financial Information of Associates and Joint Ventures

	Associates															Joint Ventures
		Centro de Compensación Automatizado S.A.		Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.		Sociedad Interbancaria de Depósito de Valores S.A.		Redbanc S.A.		Transbank S.A.		Administrador Financiero de Transantiago S.A.		Servicios de Infraestructura de Mercado OTC S.A.			Artikos Chile S.A.		Servipag S.A.
		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$
March 2024
Current assets		8,309		1,141		93		11,645		1,275,456		68,809		46,658			3,128		64,802
Non-current assets		10,835		8,097		9,066		16,045		160,127		857		12,718			2,300		18,199
Total Assets		19,144		9,238		9,159		27,690		1,435,583		69,666		59,376			5,428		83,001
Current liabilities		4,175		923		516		11,360		1,267,817		46,648		44,248			1,550		61,570
Non-current liabilities		138		475		—		3,407		36,538		2,321		766			407		4,850
Total Liabilities		4,313		1,398		516		14,767		1,304,355		48,969		45,014			1,957		66,420
Equity		14,831		7,840		8,643		12,923		131,228		20,697		14,353			3,471		16,581
Minority interest		—		—		—		—		—		—		9			—		—
Total Liabilities and Equity		19,144		9,238		9,159		27,690		1,435,583		69,666		59,376			5,428		83,001
Operating income		3,192		879		1		10,070		143,284		816		1,492			1,086		7,395
Operating expenses		(2,181	)	(859	)	(3	)	(9,410	)	(128,618	)	(408	)	(1,367	)		(727	)	(6,364	)
Other expenses or income		64		35		265		(3	)	(20,162	)	289		108			29		192
Gain (loss) before tax		1,075		55		263		657		(5,496	)	697		233			388		1,223
Income tax		(286	)	(13	)	—		(174	)	1,449		(188	)	(59	)		(105	)	(306	)
Gain for the year		789		42		263		483		(4,047	)	509		174			283		917

	Associates																					Joint Ventures
	Centro de Compensación Automatizado S.A.			Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.			Sociedad Interbancaria de Depósito de Valores S.A.			Redbanc S.A.			Transbank S.A.			Administrador Financiero de Transantiago S.A.			Servicios de Infraestructura de Mercado OTC S.A.			Artikos Chile S.A.			Servipag S.A.
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
December 2023
Current assets		6,380			841			104			11,054			1,362,961			66,716			21,042			3,768			84,569
Non-current assets		10,983			8,377			8,834			16,275			164,518			867			12,760			1,724			18,137
Total Assets		17,363			9,218			8,938			27,329			1,527,479			67,583			33,802			5,492			102,706
Current liabilities		3,034			899			525			11,625			1,355,563			47,242			18,768			1,898			82,503
Non-current liabilities		247			496			—			3,236			36,641			—			766			406			4,539
Total Liabilities		3,281			1,395			525			14,861			1,392,204			47,242			19,534			2,304			87,042
Equity		14,082			7,823			8,413			12,468			135,275			20,341			14,259			3,188			15,664
Minority interest		—			—			—			—			—			—			9			—			—
Total Liabilities and Equity		17,363			9,218			8,938			27,329			1,527,479			67,583			33,802			5,492			102,706
Operating income		8,973			5,116			14			58,576			969,393			4,818			9,355			5,571			43,709
Operating expenses		(2,812	)		(4,823	)		(50	)		(57,847	)		(821,426	)		(2,540	)		(8,667	)		(3,558	)		(39,366	)
Other expenses or income		589			345			1,754			127			(113,486	)		2,287			743			137			1,503
Gain (loss) before tax		6,750			638			1,718			856			34,481			4,565			1,431			2,150			5,846
Income tax		(1,692	)		(66	)		—			(100	)		(7,667	)		(949	)		(430	)		(511	)		(1,444	)
Gain for the year		5,058			572			1,718			756			26,814			3,616			1,001			1,639			4,402

86

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued 

15. Intangible Assets:

(a) The composition of intangible assets as of March 31, 2024 and December 31, 2023, are as follows:

	Useful Life		Average remaining amortization		Gross balance				Accumulated Amortization						Net balance
	March	December	March	December	March		December		March			December			March		December
	2024	2023	2024	2023	2024		2023		2024			2023			2024		2023
	Years	Years	Years	Years	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Other independently originated intangible assets	6	6	5	5		337,663		322,148		(193,425	)		(184,944	)		144,238		137,204
Total						337,663		322,148		(193,425	)		(184,944	)		144,238		137,204

(b) The change of intangible assets during the period ended as of March 31, 2024 and December 31, 2023, are as follows:

	March			December
	2024			2023
	MCh$			MCh$
Gross Balance
Balance as of January 1,		322,148			263,268
Acquisition		15,592			59,955
Disposals/ write-downs		(77	)		(1,050	)
Reclassification		—			—
Impairment (*)		—			(25	)
Total		337,663			322,148
Accumulated Amortization
Balance as of January 1,		(184,944	)		(156,648	)
Amortization for the period (**)		(8,558	)		(29,346	)
Disposals/ write-downs		77			1,050
Reclassification		—			—
Impairment (*)		—			—
Total		(193,425	)		(184,944	)
Balance Net		144,238			137,204

(*) See Note No. 40 Impairment of non-financial assets.

(**) See Note No. 39 Depreciation and Amortization.

(c) As of March 31, 2024, the Bank maintains Ch$11,457 million (Ch$14,869 million as of December 31, 2023) of assets associated with technological developments.

(d) As of March 31, 2024 and December 31, 2023, there are no restrictions on the intangible assets of the Bank. Furthermore, there are no intangible assets held as collateral for the fulfillment of obligations.

87

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

16. Property and equipment:

(a) The properties and equipment as of March 31, 2024 and December 31, 2023 are composed as follows:

	Useful Life				Average remaining depreciation				Gross balance				Accumulated Depreciation						Net balance
	March		December		March		December		March		December		March			December			March		December
	2024		2023		2024		2023		2024		2023		2024			2023			2024		2023
	Years		Years		Years		Years		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Type of property and equipment:
Land and Buildings		25		25		18		18		324,336		322,766		(167,417	)		(165,286	)		156,919		157,480
Equipment		5		5		3		3		257,573		256,933		(225,130	)		(221,083	)		32,443		35,850
Others		7		7		4		4		61,799		61,118		(53,253	)		(52,791	)		8,546		8,327
Total										643,708		640,817		(445,800	)		(439,160	)		197,908		201,657

(b) The changes in properties and equipment as of March 31, 2024 and December 31, 2023, are as follows:

	March 2024
	Land and Buildings			Equipment			Others			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2024		322,766			256,933			61,118			640,817
Additions		1,879			1,319			852			4,050
Write-downs and sales of the period		(309	)		(679	)		(171	)		(1,159	)
Impairment (**)		—			—			—			—
Total		324,336			257,573			61,799			643,708
Accumulated Depreciation
Balance as of January 1, 2024		(165,286	)		(221,083	)		(52,791	)		(439,160	)
Depreciation of the period (*)		(2,417	)		(4,522	)		(624	)		(7,563	)
Write-downs and sales of the period		286			475			162			923
Total		(167,417	)		(225,130	)		(53,253	)		(445,800	)
Balance as of March 31, 2024		156,919			32,443			8,546			197,908

	December 2023
	Land and Buildings			Equipment			Others			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2023		316,968			246,706			58,890			622,564
Additions		10,277			11,136			3,338			24,751
Write-downs and sales of the year		(4,479	)		(906	)		(1,110	)		(6,495	)
Impairment (***)		—			(3	)		—			(3	)
Total		322,766			256,933			61,118			640,817
Accumulated Depreciation
Balance as of January 1, 2023		(157,810	)		(203,136	)		(51,494	)		(412,440	)
Depreciation of the year		(9,295	)		(18,733	)		(2,365	)		(30,393	)
Write-downs and sales of the year		1,819			786			1,068			3,673
Total		(165,286	)		(221,083	)		(52,791	)		(439,160	)
Balance as of December 31, 2023		157,480			35,850			8,327			201,657

(*) See Note No. 39 Depreciation and Amortization.

(**) See Note No. 40 Impairment of non-financial assets.

(***) Does not include provision for write-off of Property for Ch$1,751 million.

88

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

16. Property and equipment, continued:

(c) As of March 31, 2024, the Bank records Ch$3,691 million (Ch$3,395 million as of December 31, 2023) in assets under construction.

(d) As of March 31, 2024 and December 31, 2023, there are no restrictions on the properties and equipment of the Bank and its subsidiaries. Furthermore, there are no properties and equipment held as collateral for the fulfillment of obligations.

17. Right-of-use assets and Lease liabilities:

(a) The composition of the rights over leased assets as of March 31, 2024 and December 31, 2023, is as follows:

	Gross Balance				Accumulated Depreciation						Net Balance
	March		December		March			December			March		December
	2024		2023		2024			2023			2024		2023
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Categories
Buildings		146,191		145,849		(80,328	)		(75,361	)		65,863		70,488
Floor space for ATMs		33,839		33,060		(4,165	)		(2,669	)		29,674		30,391
Improvements to leased properties		30,219		30,426		(22,019	)		(22,416	)		8,200		8,010
Total		210,249		209,335		(106,512	)		(100,446	)		103,737		108,889

(b) The changes of the rights over leased assets as of March 31, 2024 and December 31, 2023, is as follows:

	March 2024
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2024		145,849			33,060			30,426			209,335
Additions		1,272			1,195			558			3,025
Write-downs		(680	)		(146	)		(765	)		(1,591	)
Remeasurement		(250	)		(270	)		—			(520	)
Other incremental		—			—			—			—
Total		146,191			33,839			30,219			210,249
Accumulated Depreciation
Balance as of January 1, 2024		(75,361	)		(2,669	)		(22,416	)		(100,446	)
Depreciation of the period (*)		(5,268	)		(1,642	)		(282	)		(7,192	)
Write-downs		301			146			679			1,126
Total		(80,328	)		(4,165	)		(22,019	)		(106,512	)
Balance as of March 31, 2024		65,863			29,674			8,200			103,737

(*) See Note No. 39 Depreciation and Amortization.

89

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

17. Right-of-use assets and Lease liabilities, continued:

	December 2023
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$
Gross Balance
Balance as of January 1, 2023		144,482			43,492			28,595			216,569
Additions		16,790			31,033			1,993			49,816
Write-downs		(14,935	)		(42,821	)		(162	)		(57,918	)
Remeasurement		(488	)		(392	)		—			(880	)
Other incremental		—			1,748			—			1,748
Total		145,849			33,060			30,426			209,335
Accumulated Depreciation
Balance as of January 1, 2023		(64,352	)		(35,735	)		(21,561	)		(121,648	)
Depreciation of the year		(21,459	)		(9,736	)		(1,017	)		(32,212	)
Write-downs		10,450			42,802			162			53,414
Total		(75,361	)		(2,669	)		(22,416	)		(100,446	)
Balance as of December 31, 2023		70,488			30,391			8,010			108,889

(c) Below are the future maturities (including unearned interest) of the lease liabilities as of March 31, 2024 and December 31, 2023:

	March 2024
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
Lease associated to:	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Buildings		—		1,689		3,354		11,335		24,004		17,317		14,674		72,373
ATMs		—		661		1,323		5,663		14,370		10,083		77		32,177
Total		—		2,350		4,677		16,998		38,374		27,400		14,751		104,550

	December 2023
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 years and up to 5 years		Over 5 years		Total
Lease associated to:	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Buildings		—		1,737		3,429		12,412		25,178		18,205		15,945		76,906
ATMs		—		641		1,275		5,538		13,932		11,449		15		32,850
Total		—		2,378		4,704		17,950		39,110		29,654		15,960		109,756

90

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

17. Right-of-use assets and Lease liabilities, continued:

The Bank and its subsidiaries maintain contracts with certain renewal options and for which there is reasonable certainty that said option shall be carried out. In such cases, the lease period used to measure the liability and assets corresponds to an estimate of future renewals.

(d) The changes of the obligations for lease liabilities and the flows for the periods 2024 and 2023 are as follows:

	Total cash flow for the period
Lease liability	MCh$
Balances as of January 1, 2023		89,369
Liabilities for new lease agreements		10,224
Interest accrued expenses		439
Payments of capital and interests		(8,842	)
Remeasurement		—
Derecognized contracts		—
Readjustments		1,003
Balances as of March 31, 2023		92,193
Liabilities for new lease agreements		33,707
Interest accrued expenses		1,541
Payments of capital and interests		(23,242	)
Remeasurement		(880	)
Derecognized contracts		(4,714	)
Readjustments		2,875
Balances as of December 31, 2023		101,480
Liabilities for new lease agreements		1,734
Interest accrued expenses		624
Payments of capital and interests		(7,245	)
Remeasurement		(520	)
Derecognized contracts		(380	)
Readjustments		711
Balances as of March 31, 2024		96,404

(e) The future cash flows related to short-term lease agreements in effect as of March 31, 2024 correspond to Ch$4,025 million (Ch$4,799 million as of December 31, 2023).

(f) As of March 31, 2024, the minimum future rental income to be received from operating leases amounts to Ch$16,136 million (Ch$15,723 million as of December 31, 2023).

91

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18. Taxes:

(a) Current Taxes:

The Bank and its subsidiaries at the end of each period, have constituted a First Category Income Tax Provision, which was determined based on current tax regulations, and has been reflected in the Statement of Financial Position net of taxes to be recovered or payable, as applicable, as of March 31, 2024 and December 31, 2023 according to the following detail:

	March			December
	2024			2023
	MCh$			MCh$
Income tax		(63,053	)		(298,877	)
Tax Previous year		145,860			—
Less:
Monthly prepaid taxes		156,519			429,554
Credit for training expenses		—			2,300
Others		298			7,409
Total Tax Refundable (net)		239,624			140,386
Tax rate		27	%		27	%

	March			December
	2024			2023
	MCh$			MCh$
Current tax assets		240,148			141,194
Current tax liabilities		(524	)		(808	)
Total tax receivable (payable), net		239,624			140,386

(b) Income Tax:

The effect of the tax expense during the periods between January 1 and March 31, 2024 and 2023, are broken down as follows:

	March		March
	2024		2023
	MCh$		MCh$
Income tax expense:
Current year tax		64,470		63,661
Tax Previous year		—		—
Subtotal		64,470		63,661
(Credit) Debit for deferred taxes:
Origin and reversal of temporary differences		21,025		5,549
Subtotal		21,025		5,549
Others		184		(1,610	)
Net charge to income for income taxes		85,679		67,600

92

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18. Taxes, continued:

(c) Reconciliation of effective tax rate:

The following is a reconciliation of the income tax rate to the effective rate applied to determine the Bank’s income tax expense as of March 31, 2024 and 2023:

	March 2024						March 2023
	Tax rate						Tax rate
	%			MCh$			%			MCh$
Income tax calculated on net income before tax		27.00			103,500			27.00			90,059
Additions or deductions		(1.17	)		(4,479	)		(0.63	)		(2,116	)
Price-level restatement		(3.73	)		(14,293	)		(5.76	)		(19,229	)
Others		0.25			951			(0.33	)		(1,114	)
Effective rate and income tax expense		22.35			85,679			20.28			67,600

The effective rate for income tax for the period 2024 is 22.35% (20.28% in March 2023).

(d) Effect of deferred taxes on income and equity:

The Bank and its subsidiaries have recorded the effects of deferred taxes in their Interim Consolidated Financial Statements. Below are the debtor and creditor differences as of March 31, 2024:

.			Effect on
	Balances as of December 31, 2023		Income			Equity			Balances as of March 31, 2024
	MCh$		MCh$			MCh$			MCh$
Debit Differences:
Allowances for loan losses		372,267		8,062			—			380,329
Personnel provision		24,404		(10,232	)		—			14,172
Provision of undrawn credit lines		3,183		42			—			3,225
Staff vacations provisions		12,025		(431	)		—			11,594
Accrued interests adjustments from impaired loans		14,937		1,299			—			16,236
Staff severance indemnities provision		1,252		192			(31	)		1,413
Provision of credit cards expenses		9,857		1,135			—			10,992
Provision of accrued expenses		10,737		(1,399	)		—			9,338
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		277		—			(277	)		—
Leasing		103,352		(10,552	)		—			92,800
Incomes received in advance		5,149		(190	)		—			4,959
Exchange rate difference		—		134			—			134
Property and equipment valuation difference		2,876		295			—			3,171
Other adjustments		31,009		(6,939	)		—			24,070
Total Debit Differences		591,325		(18,584	)		(308	)		572,433
Credit Differences:
Intangible (software and others)		19,085		942			—			20,027
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		—		—			2,292			2,292
Transitory assets		8,874		4,509			—			13,383
Loans accrued to effective rate		2,484		(36	)		—			2,448
Prepaid expenses		10,885		(1,180	)		—			9,705
Exchange rate difference		1,636		(1,636	)		—			—
Activated bond placement expense		5,257		247			—			5,504
Other adjustments		3,286		(405	)		—			2,881
Total Credit Differences		51,507		2,441			2,292			56,240
Total, Net		539,818		(21,025	)		(2,600	)		516,193

93

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18. Taxes, continued:

(d) Effect of deferred taxes on income and equity, continued:

Reconciliation to Statement of Financial Position:

	March			December
	2024			2023
	MCh$			MCh$
Deferred tax assets		518,060			539,818
Deferred tax liabilities		(1,867	)		—
Total deferred tax		516,193			539,818

Below are the debtor and creditor differences as of December 31, 2023:

			Effect on
	Balance as of December 31, 2022		Income			Equity			Balances as of December 31, 2023
	MCh$		MCh$			MCh$			MCh$
Debit differences:
Allowances for loan losses		376,743		(4,476	)		—			372,267
Personnel provision		20,228		4,176			—			24,404
Provision of undrawn credit lines		3,429		(246	)		—			3,183
Staff vacations provisions		11,139		886			—			12,025
Accrued interests adjustments from impaired loans		10,305		4,632			—			14,937
Staff severance indemnities provision		1,368		(136	)		20			1,252
Provision of credit cards expenses		9,146		711			—			9,857
Provision of accrued expenses		11,829		(1,092	)		—			10,737
Adjustment for valuation of investments and equity instruments at fair value through other comprehensive income		3,670		—			(3,393	)		277
Leasing		89,821		13,531			—			103,352
Incomes received in advance		9,012		(3,863	)		—			5,149
Property and equipment valuation difference		403		2,473			—			2,876
Other adjustments		31,552		(543	)		—			31,009
Total Debit Differences		578,645		16,053			(3,373	)		591,325
Credit differences:
Intangible (software and others)		11,340		7,745			—			19,085
Transitory assets		7,953		921			—			8,874
Loans accrued to effective rate		2,441		43			—			2,484
Prepaid expenses		2,688		8,197			—			10,885
Exchange rate difference		3,406		(1,770	)		—			1,636
Activated bond placement expense		5,810		(553	)		—			5,257
Other adjustments		5,498		(2,212	)		—			3,286
Total Credit Differences		39,136		12,371			—			51,507
Total, Net		539,509		3,682			(3,373	)		539,818

94

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18. Taxes, continued:

(e) For the purpose of complying with the Circular No. 47 issued by the Chilean Internal Revenue Service (SII) and No. 3,478 issued by the CMF, dated August 18, 2009 the changes and effects generated by the application of Article 31, No. 4 of the Income Tax Law are detailed below.

As the circular requires, the information corresponds only to the Bank’s credit operations and does not consider operations of subsidiary entities that are consolidated in these Interim Consolidated Financial Statements.

					Tax value assets
(e.1) Loans and advance to banks and Loans to customers as of March 31, 2024	Book value assets (*)		Tax value assets		Past-due loans with guarantees		Past-due loans without guarantees		Total Past-due loans
	MCh$		MCh$		MCh$		MCh$		MCh$
Loans and advance to banks		1,216,747		1,217,583		—		—		—
Commercial loans		17,364,199		17,785,007		49,624		108,001		157,625
Consumer loans		4,974,376		5,427,335		1,320		40,501		41,821
Residential mortgage loans		12,454,420		12,495,125		10,441		629		11,070
Total		36,009,742		36,925,050		61,385		149,131		210,516

					Tax value assets
(e.1) Loans and advance to banks and Loans to customers as of December 31, 2023	Book value assets (*)		Tax value assets		Past-due loans with guarantees		Past-due loans without guarantees		Total Past-due loans
	MCh$		MCh$		MCh$		MCh$		MCh$
Loans and advance to banks		2,519,180		2,519,931		—		—		—
Commercial loans		17,217,023		17,828,756		41,329		107,464		148,793
Consumer loans		4,937,304		5,331,412		1,206		37,532		38,738
Residential mortgage loans		12,269,148		12,308,025		9,301		586		9,887
Total		36,942,655		37,988,124		51,836		145,582		197,418

(*) In accordance with the mentioned Circular and instructions from the SII, the value of Interim Financial Statement assets, are presented on an individual basis (only Banco de Chile) net of allowance for loan losses and do not include lease and factoring operations.

95

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

18. Taxes, continued:

(e.2) Provisions on past-due loans	Balance as of January 1, 2024		Charge-offs against provisions			Provisions established		Provisions released			Balance as of March 31, 2024
	MCh$		MCh$			MCh$		MCh$			MCh$
Commercial loans		107,464		(18,916	)		27,901		(8,448	)		108,001
Consumer loans		37,532		(84,601	)		92,950		(5,380	)		40,501
Residential mortgage loans		586		(204	)		472		(225	)		629
Total		145,582		(103,721	)		121,323		(14,053	)		149,131

(e.2) Provisions on past-due loans	Balance as of January 1, 2023		Charge-offs against provisions			Provisions established		Provisions released			Balance as of December 31, 2023
	MCh$		MCh$			MCh$		MCh$			MCh$
Commercial loans		75,561		(75,702	)		137,857		(30,252	)		107,464
Consumer loans		28,448		(317,350	)		345,142		(18,708	)		37,532
Residential mortgage loans		669		(2,088	)		3,033		(1,028	)		586
Total		104,678		(395,140	)		486,032		(49,988	)		145,582

	March		December
(e.3) Charge-offs and recoveries	2024		2023
	MCh$		MCh$
Charge-offs Art. 31 No. 4 second subparagraph		6,019		28,434
Write-offs resulting in provisions released		18		60
Recovery or renegotiation of written-off loans		256		2,139

	March		December
(e.4) Application of Art. 31 No. 4 first & third subsections of the income tax law	2024		2023
	MCh$		MCh$
Charge-offs in accordance with first subsection		—		—
Write-offs in accordance with third subsection		18		60

96

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

19. Other Assets:

At the end of each period, the item is composed as follows:

	March			December
	2024			2023
	MCh$			MCh$
Cash collateral provided for derivative financial transactions		339,314			324,899
Accounts receivable from the General Treasury of the Republic and other fiscal organizations		229,603			229,682
Debtors from brokerage of financial instruments		221,419			254,360
Accounts receivable from third parties		163,556			99,416
Assets to be leased out as lessor (*)		125,217			157,980
Prepaid expenses		79,756			67,804
Income from regular activities from contracts with customers		15,111			13,832
Investment properties		11,674			11,763
Other provided cash collateral		9,332			3,323
Pending transactions		3,835			3,330
Accumulated impairment in respect of other assets receivable		(788	)		(618	)
Other Assets		16,970			20,242
Total		1,214,999			1,186,013

(*) Correspond to fixed assets to be delivered under the financial lease modality.

97

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

20. Non-current assets and disposal groups held for sale and Liabilities included in disposal groups for sale:

(a) At the end of each period, the item is composed as follows:

	March			December
	2024			2023
	MCh$			MCh$
Assets received in lieu of payment or awarded at judicial sale (*)
Assets awarded at judicial sale		21,298			20,012
Assets received in lieu of payment		3,019			1,384
Provision for assets received in lieu of payment or awarded		(88	)		(60	)
Non-current assets for sale
Investments in other companies		—			—
Assets for recovery of assets transferred in financial leasing operations		1,345			1,555
Disposal groups held for sale		—			—
Total		25,574			22,891

(*) Assets received in lieu of payment refer to assets accepted as payment for past-due or written-off debts owed by customers. The assets acquired in this manner does not exceed 20% of the Bank’s effective equity.

(b) The changes of the provision for assets received in lieu of payment during the period 2024 and 2023 are as follows:

Provision for assets received in lieu of payment	MCh$
Balance as of January 1, 2023		25
Provisions used		(326	)
Provisions established		304
Provisions released		—
Balance as of March 31, 2023		3
Provisions used		(706	)
Provisions established		763
Provisions released		—
Balance as of December 31, 2023		60
Provisions used		(360	)
Provisions established		388
Provisions released		—
Balance as of March 31, 2024		88

(c) The Bank does not present liabilities classified in the disposal group for sale during the periods March 2024 and December 2023.

98

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

21. Financial liabilities held for trading at fair value through profit or loss:

The item detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Financial derivative contracts		2,684,732		2,196,921
Other financial instruments		3,765		2,305
Total		2,688,497		2,199,226

a) As of March 31, 2024 and December 31, 2023, the Bank maintains the following debt portfolio of derivative instruments:

	Notional amount of contract with final expiration date in
	Demand				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 year and up to 5 years				Over 5 years				Total				Fair value Liabilities
	March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December		March		December
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Currency forward		—		—		4,059,126		3,939,379		2,419,759		2,316,619		2,670,042		2,458,194		715,713		283,291		5,304		3,590		—		—		9,869,944		9,001,073		369,115		221,965
Interest rate swap		—		—		671,345		512,235		2,113,707		1,843,294		6,254,790		6,210,930		7,053,155		6,735,372		4,044,256		3,815,430		4,358,978		4,322,545		24,496,231		23,439,806		825,538		817,967
Interest rate swap and cross currency swap		—		—		139,710		101,948		353,436		404,210		1,223,688		1,201,167		3,389,970		3,331,601		1,970,455		1,712,666		2,828,534		2,845,087		9,905,793		9,596,679		1,487,419		1,152,057
Call currency options		—		—		13,816		3,887		7,944		13,859		7,725		10,051		—		—		—		—		—		—		29,485		27,797		2,133		1,061
Put currency options		—		—		68,484		4,181		50,234		51,284		87,076		124,029		12,278		19,566		—		—		—		—		218,072		199,060		527		3,871
Total		—		—		4,952,481		4,561,630		4,945,080		4,629,266		10,243,321		10,004,371		11,171,116		10,369,830		6,020,015		5,531,686		7,187,512		7,167,632		44,519,525		42,264,415		2,684,732		2,196,921

b) Other instruments or financial liabilities:

	March		December
	2024		2023
	MCh$		MCh$
Current accounts and other demand deposits		—		—
Savings accounts and other time deposits		—		—
Debt instruments issued		—		—
Others		3,765		2,305
Total		3,765		2,305

99

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost:

The item detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Current accounts and other demand deposits		13,539,960		13,321,660
Saving accounts and time deposits		15,632,789		15,365,562
Obligations by repurchase agreements and securities lending		185,126		157,173
Borrowings from financial institutions		5,625,691		5,360,715
Debt financial instruments issued		9,722,556		9,360,065
Other financial obligations		273,991		339,305
Total		44,980,113		43,904,480

(a) Current accounts and other demand deposits:

At the end of each period, the composition of current accounts and other demand deposits is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Current accounts		11,011,096		11,025,685
Other demand obligations		1,495,332		1,224,829
Demand deposits accounts		624,289		625,923
Other demand deposits		409,243		445,223
Total		13,539,960		13,321,660

(b) Saving accounts and time deposits:

At the end of each period, the composition of saving accounts and time deposits is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Time deposits		15,241,882		14,979,565
Term savings accounts		354,720		355,725
Other term balances payable		36,187		30,272
Total		15,632,789		15,365,562

100

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

(c) Obligations by repurchase agreements and securities lending:

The Bank obtains financing by selling financial instruments and agreeing to repurchase them in the future, plus interest at a prefixed rate. As of March 31, 2024 and December 31, 2023, the repurchase agreements are the following:

	March		December
	2024		2023
	MCh$		MCh$
Transaction with domestic banks
Repurchase agreements with other banks		—		—
Repurchase agreements with the Central Banks of Chile		—		—
Obligations from securities lending		—		—
Transaction with foreign banks
Repurchase agreements with other banks		—		—
Repurchase agreements with foreign Central Banks		—		—
Obligations from securities lending		—		—
Transaction with other domestic entities
Repurchase agreements		185,126		157,173
Obligations from securities lending		—		—
Transaction with other foreign entities
Repurchase agreements		—		—
Obligations from securities lending		—		—
Total		185,126		157,173

The fair value of the financial instruments delivered as collateral by the Bank and its subsidiaries, in sales transactions with repurchase agreement and securities lending as of March 31, 2024 amounts to Ch$185,436 million (Ch$157,089 million in December 2023). In the event that the Bank and its subsidiaries enter into default or bankruptcy, the counterparty is authorized to sell or deliver these investments as collateral.

101

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

(d) Borrowings from Financial Institutions:

At the end of each period, borrowings from financial institutions are detailed as follows:

	March		December
	2024		2023
	MCh$		MCh$
Domestic banks		—		—
Foreign banks
Foreign trade financing
Bank of New York Mellon		247,944		218,686
Bank of America		151,734		142,113
Standard Chartered Bank		149,858		119,794
Zurcher Kantonalbank		143,816		92,704
HSBC Bank		134,557		87,602
Caixabank S.A.		109,865		48,918
Wells Fargo Bank		50,468		42,117
Commerzbank AG		50,286		40,766
DZ Bank AG Deutsche		39,321		—
Citibank N.A. United State		671		51,297
Others		43		92
Borrowings and other obligations
Wells Fargo Bank		151,095		132,523
Citibank N.A. United State		46,465		35,345
Commerzbank AG		983		117
Others		64		60
Subtotal foreign banks		1,277,170		1,012,134
Chilean Central Bank (*)		4,348,521		4,348,581
Total		5,625,691		5,360,715

(*) Financing provided by the Chilean Central Bank to deliver liquidity to the economy and support the credit flow to households and companies, related to the Conditional Credit Facility to Increase Lending (FCIC by its Spanish initials).

102

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

(e) Debt financial instruments issued:

At the end of each period, the composition of debt financial instruments issued as follows:

	March		December
	2024		2023
	MCh$		MCh$
Letters of credit
Letters of credit for housing		1,255		1,433
Letters of credit for general purposes		8		11
Bonds
Current Bonds		9,721,293		9,358,621
Mortgage bonds		—		—
Total		9,722,556		9,360,065

During the period ended March 31, 2024 Banco de Chile has placed bonds for Ch$314,872 million, which corresponds to Long-Term Bonds, according to the following details:

Long-Term Bonds

Serie	Currency	Amount MCh$		Terms Years		Annual interest rate %		Issued date	Maturity date
BCHIEZ1121	UF		107,462		4		3.72	01/15/2024	05/01/2028
BCHIEZ1121	UF		31,197		4		3.72	01/16/2024	05/01/2028
BCHICE1215	UF		21,998		7		3.20	01/31/2024	12/01/2031
BCHICH1215	UF		7,350		8		3.15	02/08/2024	12/01/2032
BCHIFA0222	UF		32,349		4		3.25	03/15/2024	08/01/2028
BCHIFA0222	UF		19,518		4		3.32	03/21/2024	08/01/2028
BCHIEY1021	UF		12,474		4		3.29	03/22/2024	04/01/2028
BCHIFA0222	UF		14,228		4		3.29	03/25/2024	08/01/2028
BCHIGG1121	UF		12,345		11		3.35	03/26/2024	05/01/2035
BCHIFA0222	UF		3,566		4		3.24	03/27/2024	08/01/2028
Subtotal			262,487
BONO HKD	HKD		52,385		10		4.22	02/02/2024	02/09/2034
Subtotal other currencies			52,385
Total			314,872

103

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

(e) Debt financial instruments issued, continued:

During the year ended December 31, 2023 Banco de Chile has placed bonds for Ch$1,224,480 million, which corresponds to Short-Term Current Bonds and Long-Term Bonds for amounts of Ch$286,354 and Ch$938,126 million respectively, according to the following details:

Short-term Bonds

Counterparty	Currency	Amount MCh$		Annual interest rate %		Issued date	Maturity date
Wells Fargo Bank	USD		39,449		5.65	03/30/2023	08/01/2023
Wells Fargo Bank	USD		39,449		5.65	03/30/2023	07/28/2023
Wells Fargo Bank	USD		40,385		5.60	04/03/2023	10/02/2023
Wells Fargo Bank	USD		40,425		5.56	04/04/2023	09/01/2023
Wells Fargo Bank	USD		42,041		5.85	08/01/2023	02/01/2024
Wells Fargo Bank	USD		42,303		5.75	08/25/2023	11/27/2023
Wells Fargo Bank	USD		42,302		5.85	08/25/2023	01/22/2024
Total			286,354

104

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

(e) Debt financial instruments issued, continued:

Long-Term Current Bonds

Serie	Currency	Amount MCh$		Terms Years		Annual interest rate %		Issued date	Maturity date
BCHIGI0322	UF		143,510		12		2.61	01/06/2023	09/01/2035
BCHIDG1116	CLP		9,179		4		6.55	03/16/2023	05/01/2027
BCHIDG1116	CLP		10,604		4		6.55	03/23/2023	05/01/2027
BCHIGG1121	UF		23,889		12		2.50	04/11/2023	05/01/2035
BCHICG0815	UF		18,716		9		2.65	04/28/2023	08/01/2032
BCHIGB0322	UF		16,521		11		2.78	05/18/2023	09/01/2034
BCHICH1215	UF		10,939		9		2.96	06/02/2023	12/01/2032
BCHIGB0322	UF		7,747		11		2.78	06/06/2023	09/01/2034
BCHIBU0815	UF		10,346		6		3.39	06/08/2023	08/01/2029
BCHIBU0815	UF		18,200		6		3.39	06/09/2023	08/01/2029
BCHICE1215	UF		27,024		8		2.94	06/09/2023	12/01/2031
BCHIFW1121	UF		142,385		10		2.89	06/12/2023	05/01/2033
BCHIBU0815	UF		23,372		6		3.26	06/15/2023	08/01/2029
BCHIGB0322	UF		7,217		11		2.78	06/16/2023	09/01/2034
BCHICI0815	UF		5,658		10		3.04	08/01/2023	02/01/2033
BCHICI0815	UF		18,388		10		3.35	08/18/2023	02/01/2033
BCHICH1215	UF		8,919		9		3.34	08/24/2023	12/01/2032
BCHIBO0815	UF		22,243		4		3.61	08/25/2023	02/01/2028
BCHIBO0815	UF		48,392		4		3.61	08/29/2023	02/01/2028
BCHICE1215	UF		9,349		8		3.27	08/29/2023	12/01/2031
BCHIFB1021	UF		6,996		6		4.16	11/03/2023	04/01/2029
BCHIFB1021	UF		14,667		6		4.16	11/07/2023	04/01/2029
BCHIEY1021	UF		29,979		5		4.26	11/08/2023	04/01/2028
BCHIFB1021	UF		3,335		6		4.16	11/09/2023	04/01/2029
BCHICI0815	UF		23,720		9		3.90	11/14/2023	02/01/2033
BCHICH1215	UF		6,964		9		3.90	11/14/2023	12/01/2032
BCHIFB1021	UF		22,046		6		4.16	11/15/2023	04/01/2029
BCHICE1215	UF		3,572		8		3.64	11/22/2023	12/01/2031
BCHICE1215	UF		10,748		8		3.60	11/23/2023	12/01/2031
BCHIGH1221	UF		133,306		12		3.67	12/01/2023	06/01/2035
BCHICH1215	UF		14,144		9		3.55	12/05/2023	12/01/2032
BCHICG0815	UF		9,137		9		3.31	12/18/2023	08/01/2032
BCHICH1215	UF		9,113		9		3.21	12/20/2023	12/01/2032
Subtotal			870,325
BONO MXN	MXN		31,968		4		TIE (28 days) + 0.85	06/01/2023	06/03/2027
BONO JPY	JPY		35,833		2		0.75	06/08/2023	06/16/2025
Subtotal other currencies			67,801
Total			938,126

105

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

22. Financial liabilities at amortized cost, continued:

As of March 31, 2024 and December 31, 2023, the Bank has not presented defaults in the payment of principal and interest on its debt instruments. Likewise, there have been no breaches of covenants and other commitments associated with the debt instruments issued.

(f) Other Financial Obligations:

At the end of each period, the composition of other financial obligations as follows:

	March		December
	2024		2023
	MCh$		MCh$
Other Chilean financial obligations		273,979		339,281
Other financial obligations with the Public sector		12		24
Total		273,991		339,305

23. Financial instruments of regulatory capital issued:

a) At the end of each period, this item is composed as follows:

	March		December
	2024		2023
	MCh$		MCh$
Subordinated bonds
Subordinated bonds with transitory recognition		—		—
Subordinated bonds		1,053,813		1,039,814
Bonds with no fixed term of maturity		—		—
Preferred stock		—		—
Total		1,053,813		1,039,814

b) Issuances of regulatory capital financial instruments in the year:

During the period ended March 31, 2024 and December 31, 2023, no issues of regulatory capital financial instruments have been made.

106

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23. Financial instruments of regulatory capital issued, continued:

c) Changes in regulatory capital financial instruments:

	Subordinated bonds			Bonds with no maturity		Preferred shares
	MCh$			MCh$		MCh$
Balance as of January 1, 2023		1,010,905			—		—
Emissions made		—			—		—
Transaction costs		—			—		—
Transaction costs amortization		—			—		—
Accrued interest		34,903			—		—
Acquisition or redemption by the issuer		—			—		—
Modification of the issuance conditions		—			—		—
Interest and UF indexation payments to the holder		(41,541	)		—		—
Principal payments to the holder		(10,658	)		—		—
Accrued UF indexation		46,205			—		—
Exchange rate differences		—			—		—
Depreciation		—			—		—
Reappraisal		—			—		—
Expiration		—			—		—
Conversion to common shares		—			—		—
Balance as of December 31, 2023		1,039,814			—		—
Balance as of January 1, 2024		1,039,814			—		—
Emissions made		—			—		—
Transaction costs		—			—		—
Transaction costs amortization		—			—		—
Accrued interest		8,505			—		—
Acquisition or redemption by the issuer		—			—		—
Modification of the issuance conditions		—			—		—
Interest and UF indexation payments to the holder		(2,195	)		—		—
Principal payments to the holder		(813	)		—		—
Accrued UF indexation		8,502			—		—
Exchange rate differences		—			—		—
Depreciation		—			—		—
Reappraisal		—			—		—
Expiration		—			—		—
Conversion to common shares		—			—		—
Balance as of March 31, 2024		1,053,813			—		—

107

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23. Financial instruments of regulatory capital issued, continued:

d) Below is the detail of the subordinated bonds due as of March 31, 2024 and December 31, 2023:

March 2023
Serie	Currency	Issuance currency amount		Interest rate %	Registration date	Maturity date	Balance due MCh$
C1	UF		300,000	7.5	12/06/1999	01/01/2030		4,843
C1	UF		200,000	7.4	12/06/1999	01/01/2030		3,233
C1	UF		530,000	7.1	12/06/1999	01/01/2030		8,630
C1	UF		300,000	7.1	12/06/1999	01/01/2030		4,887
C1	UF		50,000	6.5	12/06/1999	01/01/2030		827
C1	UF		450,000	6.6	12/06/1999	01/01/2030		7,438
D1	UF		2,000,000	3.6	06/20/2002	04/01/2026		16,486
F	UF		1,000,000	5.0	11/28/2008	11/01/2033		36,393
F	UF		1,500,000	5.0	11/28/2008	11/01/2033		54,590
F	UF		759,000	4.5	11/28/2008	11/01/2033		28,663
F	UF		241,000	4.5	11/28/2008	11/01/2033		9,101
F	UF		4,130,000	4.2	11/28/2008	11/01/2033		158,906
F	UF		1,000,000	4.3	11/28/2008	11/01/2033		38,475
F	UF		70,000	4.2	11/28/2008	11/01/2033		2,701
F	UF		4,000,000	3.9	11/28/2008	11/01/2033		158,590
F	UF		2,300,000	3.8	11/28/2008	11/01/2033		91,534
G	UF		600,000	4.0	11/29/2011	11/01/2036		22,096
G	UF		50,000	4.0	11/29/2011	11/01/2036		1,841
G	UF		80,000	3.9	11/29/2011	11/01/2036		2,966
G	UF		450,000	3.9	11/29/2011	11/01/2036		16,700
G	UF		160,000	3.9	11/29/2011	11/01/2036		5,938
G	UF		1,000,000	2.7	11/29/2011	11/01/2036		41,849
G	UF		300,000	2.7	11/29/2011	11/01/2036		12,555
G	UF		1,360,000	2.6	11/29/2011	11/01/2036		57,084
J	UF		1,400,000	1.0	11/29/2011	11/01/2042		76,515
J	UF		1,500,000	1.0	11/29/2011	11/01/2042		82,094
J	UF		1,100,000	1.0	11/29/2011	11/01/2042		60,634
I	UF		900,000	1.0	11/29/2011	11/01/2040		48,244
					Total subordinated bonds due			1,053,813

108

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

23. Financial instruments of regulatory capital issued, continued:

December 2023
Serie	Currency	Issuance currency amount		Interest rate %	Registration date	Maturity date	Balance due MCh$
C1	UF		300,000	7.5	12/06/1999	01/01/2030		5,211
C1	UF		200,000	7.4	12/06/1999	01/01/2030		3,478
C1	UF		530,000	7.1	12/06/1999	01/01/2030		9,284
C1	UF		300,000	7.1	12/06/1999	01/01/2030		5,258
C1	UF		50,000	6.5	12/06/1999	01/01/2030		889
C1	UF		450,000	6.6	12/06/1999	01/01/2030		8,000
D1	UF		2,000,000	3.6	06/20/2002	04/01/2026		16,207
F	UF		1,000,000	5.0	11/28/2008	11/01/2033		35,658
F	UF		1,500,000	5.0	11/28/2008	11/01/2033		53,488
F	UF		759,000	4.5	11/28/2008	11/01/2033		28,118
F	UF		241,000	4.5	11/28/2008	11/01/2033		8,928
F	UF		4,130,000	4.2	11/28/2008	11/01/2033		155,976
F	UF		1,000,000	4.3	11/28/2008	11/01/2033		37,766
F	UF		70,000	4.2	11/28/2008	11/01/2033		2,652
F	UF		4,000,000	3.9	11/28/2008	11/01/2033		155,816
F	UF		2,300,000	3.8	11/28/2008	11/01/2033		89,943
G	UF		600,000	4.0	11/29/2011	11/01/2036		21,703
G	UF		50,000	4.0	11/29/2011	11/01/2036		1,809
G	UF		80,000	3.9	11/29/2011	11/01/2036		2,914
G	UF		450,000	3.9	11/29/2011	11/01/2036		16,406
G	UF		160,000	3.9	11/29/2011	11/01/2036		5,833
G	UF		1,000,000	2.7	11/29/2011	11/01/2036		41,234
G	UF		300,000	2.7	11/29/2011	11/01/2036		12,371
G	UF		1,360,000	2.6	11/29/2011	11/01/2036		56,249
J	UF		1,400,000	1.0	11/29/2011	11/01/2042		75,690
J	UF		1,500,000	1.0	11/29/2011	11/01/2042		81,211
J	UF		1,100,000	1.0	11/29/2011	11/01/2042		59,989
I	UF		900,000	1.0	11/29/2011	11/01/2040		47,733
					Total subordinated bonds due			1,039,814

109

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24. Provisions for contingencies:

(a) At the end of each period, this item is composed as follows:

	March		December
	2024		2023
	MCh$		MCh$
Provisions for employee benefit obligations		109,289		154,132
Provisions for obligations of customer loyalty and merit programs		40,449		36,242
Provisions for operational risk		1,421		1,514
Provisions of a bank branch abroad for profit remittances to its parent company		—		—
Provisions for reestructuring plans		—		—
Provisions for lawsuits and litigation		—		—
Other provisions for contingencies		264		264
Total		151,423		192,152

110

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24. Provisions for contingencies, continued;

(b) The following table shows the changes in provisions during the period 2024 and 2023:

	Provisions for employee benefit obligations			Provisions of a bank branch abroad for profit remittances to its parent company		Provisions for reestructuring plans		Provisions for lawsuits and litigation		Provisions for obligations of customer loyalty and merit programs			Provisions for operational risk			Other provisions for contingencies		Total
	MCh$			MCh$		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Balances as of January 1, 2023		139,315			—		—		—		33,609			2,838			264		176,026
Provisions established		31,539			—		—		—		—			—			—		31,539
Provisions used		(70,378	)		—		—		—		—			—			—		(70,378	)
Provisions released		—			—		—		—		(2,891	)		(168	)		—		(3,059	)
Balances as of March 31, 2023		100,476			—		—		—		30,718			2,670			264		134,128
Provisions established		92,644			—		—		—		5,524			746			—		98,914
Provisions used		(38,988	)		—		—		—		—			(1,592	)		—		(40,580	)
Provisions released		—			—		—		—		—			(310	)		—		(310	)
Balances as of December 31, 2023		154,132			—		—		—		36,242			1,514			264		192,152
Provisions established		27,899			—		—		—		4,207			301			—		32,407
Provisions used		(72,742	)		—		—		—		—			(307	)		—		(73,049	)
Provisions released		—			—		—		—		—			(87	)		—		(87	)
Balances as of March 31, 2024		109,289			—		—		—		40,449			1,421			264		151,423

111

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24. Provisions for contingencies, continued;

(c) Provisions for employee benefit obligations:

	March		December
	2024		2023
	MCh$		MCh$
Provision of short-term employee benefits		99,075		144,455
Provision of benefits to employees for contract termination		10,214		9,677
Provisión of benefits to post-employment employees		—		—
Provision of long-term employee benefits		—		—
Provision of share-based employee benefits		—		—
Provisión for obligations for defined contribution post-employment plans		—		—
Provisión for obligations for post-employment defined benefit plans		—		—
Provision for other employee obligations		—		—
Total		109,289		154,132

(d) Provision of short-term employee benefits:

(i) Compliance bonuses provision:

	March			March
	2024			2023
	MCh$			MCh$
Balances as of January 1		71,102			73,204
Net provisions established		15,313			15,139
Provisions used		(57,626	)		(59,926	)
Total		28,789			28,417

(ii) Vacation provision:

	March			March
	2024			2023
	MCh$			MCh$
Balances as of January 1		43,257			41,257
Net provisions established		2,725			2,694
Provisions used		(3,042	)		(2,443	)
Total		42,940			41,508

112

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24. Provisions for contingencies, continued;

(d) Provision of short-term employee benefits, continued:

(iii) Provision of other benefits to personnel:

	March			March
	2024			2023
	MCh$			MCh$
Balances as of January 1		30,096			14,119
Net provisions established		8,941			13,295
Provisions used		(11,691	)		(7,526	)
Total		27,346			19,888

(e) Provision of benefits to employees for contract termination:

(i) Changes of the provision for employee benefits due to the termination of the employment contract:

	March			March
	2024			2023
	MCh$			MCh$
Present value of the obligations at the beginning of the period		9,677			10,735
Increase in provision		1,035			296
Benefit paid		(383	)		(483	)
Effect of change in actuarial factors		(115	)		115
Total		10,214			10,663

113

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

24. Provisions for contingencies, continued;

(e) Provision of benefits to employees for contract termination, continued:

(ii) Net benefits expenses:

	March			March
	2024			2023
	MCh$			MCh$
Increase (decrease) in provisions		499			(258	)
Interest cost of benefits obligations		536			554
Effect of change in actuarial factors		(115	)		115
Net benefit expenses		920			411

(iii) Factors used in the calculation of the provision:

The main assumptions used in the determination of severance indemnity obligations for the Bank’s plan are shown below:

	March 31, 2024		December 31, 2023
	%		%
Discount rate		5.77		5.77
Salary increase rate		4.50		5.60
Payment probability		99.99		99.99

The most recent actuarial valuation of the staff severance indemnities provision was carried out the first quarter of 2024.

(f) Employee benefits share-based provision:

As of March 31, 2024 and December 31, 2023, the Bank and its subsidiaries do not have a stock-based compensation plan.

114

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

25. Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued:

(a) The item detail is as follows:

	March		December
	2024		2023
	MCh$		MCh$
Provisions for dividends		156,699		611,949
Provisions for payment of interest on bonds with no fixed maturity date		—		—
Provision for revaluation of bonds without a fixed term of maturity		—		—
Total		156,699		611,949

(b) The changes at the end of each period are as follows:

	Provisions for dividends			Provisions for payment of interest on bonds with no fixed maturity date		Provision for revaluation of bonds without a fixed term of maturity		Total
	MCh$			MCh$		MCh$		MCh$
Balances as of January 1, 2023		520,158			—		—		520,158
Provisions established		130,002			—		—		130,002
Provisions used		(520,158	)		—		—		(520,158	)
Provisions released		—			—		—		—
Balances as of March 31, 2023		130,002			—		—		130,002
Provisions used		481,947			—		—		481,947
Provisions released		—			—		—		—
Provisions used		—			—		—		—
Balances as of December 31, 2023		611,949			—		—		611,949
Provisions used		156,699			—		—		156,699
Provisions released		(611,949	)		—		—		(611,949	)
Provisions used		—			—		—		—
Balances as of March 31, 2024		156,699			—		—		156,699

115

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

26. Special provisions for credit risk:

a) At the end of each period, this item is composed as follows:

	March		December
	2024		2023
	MCh$		MCh$
Additional loan provisions		700,252		700,252
Provisions for credit risk for contingent loans (*)		65,279		61,227
Provisions for country risk for transactions with debtors with residence abroad		11,005		7,668
Special provisions for loans abroad		—		—
Provisions for adjustments to the minimum provision required for normal portfolio with individual evaluation		—		—
Provisions constituted by credit risk as a result of additional prudential requirements		—		—
Total		776,536		769,147

(*) The changes of provisions for credit risk for contingent loans is disclosed in Note No. 13 letter f).

b) The changes of provisions for special credit risk is as follows:

	Additional loan provisions		Provisions for credit risk for contingent loans			Provisions for country risk for transactions with debtors with residence abroad			Total
	MCh$		MCh$			MCh$			MCh$
Balances as of January 1, 2023		700,252		57,377			8,137			765,766
Provisions established		—		1			693			694
Provisions used		—		—			—			—
Provisions released		—		—			—			—
Foreign exchange differences		—		(896	)		—			(896	)
Balances as of March 31, 2023		700,252		56,482			8,830			765,564
Provisions established		—		3,724			—			3,724
Provisions used		—		—			—			—
Provisions released		—		—			(1,162	)		(1,162	)
Foreign exchange differences		—		1,021			—			1,021
Balances as of December 31, 2023		700,252		61,227			7,668			769,147
Provisions established		—		2,701			3,337			6,038
Provisions used		—		—			—			—
Provisions released		—		—			—			—
Foreign exchange differences		—		1,351			—			1,351
Balances as of March 31, 2024		700,252		65,279			11,005			776,536

116

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

27. Other Liabilities:

At the end of each period, this item is composed as follows:

	March		December
	2024		2023
	MCh$		MCh$
Accounts payable to third parties		421,713		342,312
Obligations for mortgage loans granted to be remit to other banks and/or real estate companies		368,260		343,546
Cash guarantees received for derivative financial transactions		231,499		172,634
Creditors for intermediation of financial instruments		221,583		252,038
Liability for income from usual activities from contracts with customers		39,732		43,877
Agreed dividends payable		15,063		12,075
VAT debit		5,539		9,286
Outstanding transactions		3,367		1,644
Securities to be settled		855		10,347
Other cash guarantees received		462		456
Other liabilities		27,241		30,523
Total		1,335,314		1,218,738

117

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity:

(a) Capital:

(i) Authorized, subscribed and paid shares:

As of March 31, 2024, the paid-in capital of Banco de Chile is represented by 101,017,081,114 registered shares (101,017,081,114 shares as of December 31, 2023), with no par value, subscribed and fully paid.

	As of March 31, 2024
Corporate Name or Shareholders’s name	Number of Shares		% of Equity Holding
LQ Inversiones Financieras S.A.		46,815,289,329		46.344	%
Banco de Chile on behalf of State Street		6,653,295,244		6.586	%
Banco Santander on behalf of foreign investors		5,213,897,422		5.161	%
Banchile Corredores de Bolsa S.A.		5,089,999,660		5.039	%
Inversiones LQ-SM Limitada		4,854,988,014		4.806	%
Banco de Chile on behalf of non-resident third parties		4,033,239,780		3.993	%
Ever Chile SPA		1,888,369,814		1.869	%
JP Morgan Chase Bank		1,778,158,708		1.760	%
Banco de Chile on behalf of Citibank New York		1,745,938,372		1.728	%
Banco Santander Chile		1,411,319,671		1.397	%
Inversiones Avenida Borgoño SPA		1,190,565,316		1.179	%
Ever 1 BAE SPA		1,166,584,950		1.155	%
Larraín Vial S.A. Corredora de Bolsa		1,052,046,373		1.041	%
BCI Corredores de Bolsa S.A.		565,363,132		0.560	%
A.F.P Habitat S.A. for A Fund		530,108,248		0.525	%
Valores Security S.A. Corredores de Bolsa		519,855,674		0.515	%
Inversiones CDP SPA		487,744,912		0.483	%
Santander S.A. Corredores de Bolsa Limitada		479,669,943		0.475	%
A.F.P Cuprum S.A. for A Fund		441,844,147		0.437	%
BTG Pactual Chile S.A. Corredores de Bolsa		439,944,302		0.436	%
Subtotal		86,358,223,011		85.489	%
Others shareholders		14,658,858,103		14.511	%
Total		101,017,081,114		100.000	%

118

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity, continued:

(a) Capital, continued:

(i) Authorized, subscribed and paid shares, continued:

	As of December 31, 2023
Corporate Name or Shareholders’s name	Number of Shares		% of Equity Holding
LQ Inversiones Financieras S.A.		46,815,289,329		46.344	%
Banco de Chile on behalf of State Street		5,912,541,950		5.853	%
Banco Santander on behalf of foreign investors		5,218,796,247		5.166	%
Banchile Corredores de Bolsa S.A.		5,093,108,613		5.042	%
Inversiones LQ-SM Limitada		4,854,988,014		4.806	%
Banco de Chile on behalf of non-resident third parties		4,366,453,313		4.322	%
Banco de Chile on behalf of Citibank New York		1,928,215,358		1.909	%
Ever Chile SPA		1,888,369,814		1.869	%
JP Morgan Chase Bank		1,540,646,308		1.525	%
Inversiones Avenida Borgoño SPA		1,190,565,316		1.179	%
Ever 1 BAE SPA		1,166,584,950		1.155	%
Banco Santander Chile		1,036,254,726		1.026	%
Larraín Vial S.A. Corredora de Bolsa		1,031,817,268		1.021	%
A.F.P Habitat S.A. for A Fund		599,181,211		0.593	%
BCI Corredores de Bolsa S.A.		560,782,315		0.555	%
Valores Security S.A. Corredores de Bolsa		516,827,332		0.512	%
Inversiones CDP SPA		487,744,912		0.483	%
A.F.P Cuprum S.A. for A Fund		486,057,153		0.481	%
Santander S.A. Corredores de Bolsa Limitada		477,871,060		0.473	%
BTG Pactual Chile S.A. Corredores de Bolsa		456,328,957		0.452	%
Subtotal		85,628,424,146		84.766	%
Others shareholders		15,388,656,968		15.234	%
Total		101,017,081,114		100.000	%

119

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity, continued:

(a) Capital, continued:

(ii) Shares:

The following table shows the changes in share from December 31, 2023 to March 31, 2024:

	Total
	Ordinary Shares
Total shares as of December 31, 2023		101,017,081,114
Total shares as of March 31, 2024		101,017,081,114

(b) Approval and payment of dividends:

At the Bank Ordinary Shareholders’ Meeting held on March 28, 2024 it was approved the distribution and payment of dividend No. 212 of Ch$8.07716286860 per share of the Banco de Chile, with charge to the net distributable income for the year 2023. The dividends paid in the in the period 2024 amounted to Ch$815,932 million.

At the Bank Ordinary Shareholders’ Meeting held on March 23, 2023 it was approved the distribution and payment of dividend No. 211 of Ch$8.58200773490 per share of the Banco de Chile, with charge to the net distributable income for the year 2022. The dividends paid in the in the period 2023 amounted to Ch$866,929 million.

(c) Provision for minimum dividends:

The Board of Directors of Banco de Chile agreed for the purposes of minimum dividends, to establish a provision of 60% of the net income resulting from reducing or adding to the net income for the corresponding year, the value effect of the monetary unit of paid capital and reserves, as a result of any change in the Consumer Price Index (CPI) between the month prior to the current month and the month of November of the previous year. The amount to be reduced of the liquid income for the period ended as of March 31, 2024 amounted to Ch$36,491 million (Ch$223,720 million as of December 31, 2023).

As indicated, as of March 31, 2024, the amount of the net income determined in accordance with the preceding paragraph is equivalent to Ch$261,164 million (Ch$1,019,914 million as of December 31, 2023). Consequently, the Bank recorded a provision for minimum dividends under “Provision for dividends, interests and reappraisal of financial instruments of regulatory capital issued” as of March 31, for an amount of Ch$156,699 million (Ch$611,949 million in December 2023), which reflects as a counterpart an equity reduction for the same amount in the item “Retained earnings”.

120

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity, continued:

(d) Earnings per share:

(i) Basic earnings per share:

Basic earnings per share are determined by dividing the net income attributable to the Bank ordinary equity holders in a year between the weighted average number of shares outstanding during that period, excluding the average number of own shares held throughout the period.

(ii) Diluted earnings per share:

In order to calculate the diluted earnings per share, both the amount of income attributable to common shareholders and the weighted average number of shares outstanding, net of own shares, must be adjusted for all the inherent dilutive effects to the potential common shares (stock options, warrants and convertible debt).

Accordingly, the basic and diluted earnings per share as of March 31, 2024 and 2023 were determined as follows:

	March		March
	2024		2023
Basic earnings per share:
Net profits attributable to ordinary equity holders of the bank (in million of Chilean pesos)		297,655		265,951
Weighted average number of ordinary shares		101,017,081,114		101,017,081,114
Earning per shares (in Chilean pesos)		2.95		2.63
Diluted earnings per share:
Net profits attributable to ordinary equity holders of the bank (in million of Chilean pesos)		297,655		265,951
Weighted average number of ordinary shares		101,017,081,114		101,017,081,114
Assumed conversion of convertible debt		—		—
Adjusted number of shares		101,017,081,114		101,017,081,114
Diluted earnings per share (in Chilean pesos)		2.95		2.63

As of March 31, 2024 and 2023, the Bank does not have instruments that generate dilutive effects.

121

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity, continued:

(e) Other comprehensive income:

Below is the composition and changes of accumulated other comprehensive income as of March 31, 2024 and 2023:

	Elements that will not be reclassified in profit or loss											Elements that can be reclassified in profit or loss
	New measurements of net defined benefit liability and actuarial results for other employee benefit plans			Fair value changes of equity instruments designated as at fair value through other comprehensive income		Income tax			Subtotal			Fair value changes of financial assets at fair value through other comprehensive income		Cash flow accounting hedge			Participation in other comprehensive income of entities registered under the equity method			Income tax			Subtotal			Total
	MCh$			MCh$		MCh$			MCh$			MCh$		MCh$			MCh$			MCh$			MCh$			MCh$
Opening balances as of January 1, 2023		(338	)		3,790		(932	)		2,520			268		(103,782	)		(190	)		31,382			(72,322	)		(69,802	)
Other comprehensive income for the period		(115	)		74		11			(30	)		16,791		56,304			(4	)		(17,775	)		55,316			55,286
Balances as of March 31, 2023		(453	)		3,864		(921	)		2,490			17,059		(47,478	)		(194	)		13,607			(17,006	)		(14,516	)
Opening balances as of January 1, 2024		(413	)		9,668		(2,499	)		6,756			9,142		9,401			(74	)		(983	)		17,486			24,242
Other comprehensive income for the period		115			518		(171	)		462			6,440		(5,247	)		7			(1,012	)		188			650
Balances as of March 31, 2024		(298	)		10,186		(2,670	)		7,218			15,582		4,154			(67	)		(1,995	)		17,674			24,892

122

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

28. Equity, continued:

(f) Retained earnings from previous years:

During the year 2024, the Ordinary Shareholders Meeting of Banco de Chile agreed to deduct and withhold from the year 2023 liquid income, an amount equivalent to the value effect of the monetary unit of paid capital and reserves according to the variation in the Consumer Price Index, which occurred between November 2022 and November 2023, amounting to Ch$223,720 million. Additionally, the board determined to retain 20% of the distributable net profit, equivalent to Ch$203,982 million.

29. Contingencies and Commitments:

(a) The Bank and its subsidiaries have exposures associated with contingent loans and other liabilities according to the following detail:

(a.1)  Contingent loans:

	March		December
	2024		2023
	MCh$		MCh$
Guarantees and sureties
Guarantees and sureties in chilean currency		—		—
Guarantees and sureties in foreing currency		374,773		351,531
Letters of credit for goods circulation operations		444,098		350,604
Debt purchase commitments in local currency abroad		—		—
Transactions related to contingent events
Transactions related to contingent events in chilean currency		2,292,209		2,209,109
Transactions related to contingent events in foreing currency		471,209		431,188
Undrawn credit lines with immediate termination
Balance of lines of credit and agreed overdraft in current account – commercial loans		1,572,773		1,581,711
Balance of lines of credit on credit card – commercial loans		336,935		317,560
Balance of lines of credit and agreed overdraft in current account – consumer loans		1,484,130		1,476,241
Balance of lines of credit on credit card – consumer loans		7,189,254		6,708,946
Balance of lines of credit and agreed overdraft in current account – due from banks loans		—		—
Undrawn credit lines		—		—
Other commitments
Credits for higher studies Law No. 20,027 (CAE)		—		—
Other irrevocable credit commitments		121,041		120,545
Other credit commitments		—		—
Total		14,286,422		13,547,435

123

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29. Contingencies and Commitments, continued:

(a.2)  Responsibilities assumed to meet customer needs:

	March		December
	2024		2023
	MCh$		MCh$
Transactions on behalf of third parties
Collections		133,027		176,146
Placement or sale of financial instruments		—		—
Transferred financial assets managed by the bank		—		—
Third-party resources managed by the bank		882,211		921,105
Subtotal		1,015,238		1,097,251
Securities custody
Securities safekept by a banking subsidiary		6,728,126		6,267,729
Securities safekept by the Bank		3,346,160		3,133,770
Securities safekept deposited in another entity		18,646,150		17,238,292
Securities issued by the bank		—		—
Subtotal		28,720,436		26,639,791
Total		29,735,674		27,737,042

(b) Lawsuits and legal proceedings:

(b.1)  Normal judicial contingencies in the industry:

At the date of issuance of these Interim Consolidated Financial Statements, there are legal actions filed against the Bank related with the ordinary course operations. As of March 31, 2024, the Bank maintain provisions for judicial contingencies amounting to Ch$1,103 million (Ch$1,173 million as of December 2023), which are part of the item “Provisions for contingencies” in the Statement of Financial Position.

The estimated end dates of the respective legal contingencies are as follows:

	As of March 31, 2024
	2024		2025		2026		2027		2028		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Legal contingencies		598		505		—		—		—		1,103

(b.2)  Contingencies for significant lawsuits in courts:

As of March 31, 2024 and December 31, 2023, there are not significant lawsuits in court that affect or may affect these Interim Consolidated Financial Statements.

124

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29. Contingencies and Commitments, continued:

(c) Guarantees granted by operations:

i. In subsidiary Banchile Administradora General de Fondos S.A.:

In compliance with Article No, 12 of Law No. 20,712, Banchile Administradora General de Fondos S.A., has designated Banco de Chile as the representative of the beneficiaries of the guarantees it has established, and in such role the Bank has issued bank guarantees totaling UF 3,532,100 maturing January 8, 2025 (UF 4,153,500, maturing on January 6, 2023). The subsidiary took a policy with Mapfre Seguros Generales S.A. for the Real State Funds by a guaranteed amount of UF 752,000.

As of March 31, 2024 and 2023, the Bank has not guaranteed mutual funds.

ii. In subsidiary Banchile Corredores de Bolsa S.A.:

For the purposes of ensuring correct and complete compliance with all of its obligations as broker-dealer entity, in conformity with the provisions from Article 30 and subsequent of Law No. 18,045 on Securities Markets, the subsidiary established a guarantee in an insurance policy for UF 20,000, insured by Mapfre Seguros Generales S.A., that matures April 22, 2024, whereby the Securities Exchange of the Santiago Stock Exchange was appointed as the subsidiary’s creditor representative.

125

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29. Contingencies and Commitments, continued:

(c) Guarantees granted by operations, continued:

	March		December
	2024		2023
	MCh$		MCh$
Guarantees:
Shares received as collateral for simultaneous operations:
Santiago Securities Exchange, Stock Exchange		7,201		17,070
Electronic Chilean Securities Exchange, Stock Exchange		12,122		11,432
Fixed income securities delivered to guarantee CCLV system:
Santiago Securities Exchange, Stock Exchange		7,815		7,820
Fixed income securities as collateral for the Santiago Stock Exchange		2,147		2,142
Shares delivered to guarantee equity lending and short-selling:
Santiago Securities Exchange, Stock Exchange		2,405		2,350
Cash guarantees received for operations with derivatives		2,772		1,062
Cash guarantees for operations with derivatives		6,845		6,142
Equity securities received for operations with derivatives:
Electronic Chilean Securities Exchange, Stock Exchange		159		189
Depósito Central de Valores S.A.		1,878		276
Total		43,344		48,483

In conformity with the internal regulation of the stock exchanges in which it participates, and for the purpose of ensuring its proper performance, the Company maintains in favor of the Santiago Stock Exchange a guarantee in fixed income financial instruments equivalent to Ch$2,147 million. It also maintains a pledge in favor of the Electronic Stock Exchange for three hundred thousand shares of said institution.

Banchile Corredores de Bolsa S.A. keeps an insurance policy current with Chubb Seguros Chile S.A. that expires June 30, 2024, this considers matters of employee fidelity, physical losses, falsification or adulteration, and currency fraud with a coverage amount equivalent to US$20,000,000.

It also provided a bank guarantee in the amount of UF 317,900 for the benefits of investors in portfolio management contracts. This bank guarantee is revaluated in UF to fixed term, non-endorsable and has a maturity date of January 9, 2025.

It also provided a cash guarantee in the amount of US$122,494.32 for the purpose of complying with the obligations to Pershing, for any operations conducted through that broker, additionally, there are US$4,964,730.9 for variable income operations.

126

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

29. Contingencies and Commitments, continued:

(c) Guarantees granted by operations, continued:

A guarantee corresponding to UF 10,000 has been constituted, to guarantee compliance with the fund’s investment portfolio management service contract. Said guarantee corresponds to a non-endorsable fixed-term readjustable bond in UF issued by Banco de Chile with validity until January 27, 2026.

A guarantee corresponding to UF 500 has been constituted, to guarantee the seriousness of the offer presented in the bidding process for ADC and brokerage of RF instruments. Beneficiary: Mutual Security of the Chilean Chamber of Construction, valid until June 5, 2024.

iii. In subsidiary Banchile Corredores de Seguros Ltda.:

According to established in article 58, letter D of D.F.L. 251, as of March 31, 2024 the entity maintains two insurance policies with effect from April 15, 2023 to April 14, 2024 which protect it against of potential damages caused by infractions of the law, regulations and complementary rules that regulate insurance brokers, especially when the non-compliance comes from acts, errors or omissions of the broker, its representatives, agents or dependents that participate in the intermediation.

The policies contracted are:

Matter insured	Amount Insured (UF)
Errors and omissions liability policy		500
Civil liability policy		60,000

(d) Exempt Resolution No. 270 dated October 30, 2014, the Superintendency of Securities and Insurance (current Commission for the Financial Market) imposed a fine of UF 50,000 to Banchile Corredores de Bolsa S.A. for violations of the second paragraph of article 53 of the Securities Market Law, said company filed a claim with the competent Civil Court requesting the annulment of the fine. On December 10, 2019, a judgement in the case was issued reducing the fine to the amount of UF 7,500, which was confirmed in the second instance by the Illustrious Court of Appeals of Santiago. The intervening parties filed cassation appeals in form and substance before the Supreme Court against the sentence in second instance.

The company has not made provisions considering that the Bank’s legal advisors in charge of the procedure estimate that there are solid grounds that the claim filed by Banchile Corredores de Bolsa S.A. can be accepted.

127

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

30. Interest Revenue and Expenses:

(a) At the end of the period, the summary of interest is as follows:

	March			March
	2024			2023
	MCh$			MCh$
Interest revenue		800,766			773,145
Interest expenses		(337,325	)		(405,228	)
Total net interest income		463,441			367,917

(b) The composition of interest revenue is as follows:

	March			March
	2024			2023
	MCh$			MCh$
Financial assets at amortized cost:
Rights from resale agreements and securities lending		1,231			1,431
Debt financial instruments		33,919			3,344
Loans and advances to Banks		30,640			51,245
Commercial loans		359,935			354,290
Residential mortgage loans		98,109			88,883
Consumer Loans		207,712			184,994
Other financial instruments		19,152			11,601
Financial assets at fair value through other comprehensive income:
Debt financial instruments		60,339			86,994
Other financial instruments		—			—
Income of accounting hedges of interest rate risk		(10,271	)		(9,637	)
Total		800,766			773,145

(b.1) At the end of the period, the stock of interest not recognized in income is as follows:

	March		March
	2024		2023
	MCh$		MCh$
Commercial loans		39,847		24,018
Residential mortgage loans		4,558		3,004
Consumer Loans		4,505		3,861
Total		48,910		30,883

128

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

30. Interest Revenue and Expenses, continued:

(b.2) The amount of interest recognized on a received basis for impaired portfolio in the period amounts to:

	March		March
	2024		2023
	MCh$		MCh$
Commercial loans		231		176
Residential mortgage loans		673		375
Consumer Loans		—		—
Total		904		551

(c) The composition of interest expenses is as follows:

	March			March
	2024			2023
	MCh$			MCh$
Financial liabilities at amortized cost:
Current accounts and other demand deposits		542			521
Saving accounts and time deposits		253,119			330,896
Obligations by repurchase agreements and securities lending		4,167			5,489
Borrowings from financial institutions		21,726			13,903
Debt financial instruments issued		63,424			57,617
Other financial obligations		—			—
Lease liabilities		624			439
Financial instruments of regulatory capital issued		8,505			8,134
Income of accounting hedges of interest rate risk		(14,782	)		(11,771	)
Total		337,325			405,228

(d) As of March 31, 2024 and 2023, the Bank uses cross currency to hedge the risk of variability of obligations flows with foreign banks and bonds issued in foreign currency.

	March 2024									March 2023
	Income			Expense			Total			Income			Expense			Total
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$
Gain from fair value accounting hedges		—			—			—			—			—			—
Loss from fair value accounting hedges		—			—			—			—			—			—
Gain from cash flow accounting hedges		2,790			19,904			22,694			2,662			15,877			18,539
Loss from cash flow accounting hedges		(13,061	)		(5,122	)		(18,183	)		(12,299	)		(4,106	)		(16,405	)
Net gain on hedge items		—			—			—			—			—			—
Total		(10,271	)		14,782			4,511			(9,637	)		11,771			2,134

129

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

31. UF indexation revenue and expenses:

(a) At the end of the period, the summary of UF indexation is as follows:

	March			March
	2024			2023
	MCh$			MCh$
UF indexation revenue		154,693			227,418
UF indexation expenses		(87,800	)		(141,287	)
Total net income from UF indexation		66,893			86,131

(b) The composition of UF indexation revenue is as follows

	March			March
	2024			2023
	MCh$			MCh$
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—			—
Debt financial instruments		4,936			7,655
Loans and advances to Banks		—			—
Commercial loans		59,326			85,706
Residential mortgage loans		101,460			150,035
Consumer Loans		263			619
Other financial instruments		1,020			1,041
Financial assets at fair value through other comprehensive income:
Debt financial instruments		4,886			8,870
Other financial instruments		—			—
Income of accounting hedges of UF, IVP, IPC indexation risk		(17,198	)		(26,508	)
Total		154,693			227,418

(b.1) At the end of the period, the stock of UF indexation not recognized in results is as follows:

	March		March
	2024		2023
	MCh$		MCh$
Commercial loans		4,717		4,271
Residential mortgage loans		6,385		6,779
Consumer Loans		12		27
Total		11,114		11,077

130

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

31. UF indexation revenue and expenses, continued:

(b.2) The amount of indexation recognized on the basis received by the impaired portfolio in the period amounted to:

	March		March
	2024		2023
	MCh$		MCh$
Commercial loans		300		261
Residential mortgage loans		1,171		1,163
Consumer Loans		—		1
Total		1,471		1,425

(c) The composition of UF indexation expenses is as follows:

	March		March
	2024		2023
	MCh$		MCh$
Financial liabilities at amortized cost:
Current accounts and other demand deposits		4,028		2,757
Saving accounts and time deposits		15,313		30,112
Obligations by repurchase agreements and securities lending		—		—
Borrowings from financial institutions		—		—
Debt financial instruments issued		59,957		95,039
Other financial obligations		—		—
Financial instruments of regulatory capital issued		8,502		13,379
Income of accounting hedges of UF, IVP, IPC indexation risk		—		—
Total		87,800		141,287

(d) As of March 31, 2024 and 2023, the Bank uses cross currency swaps to hedge the risk of variability of obligations flows with foreign banks and bonds issued in foreign currency.

	March 2024								March 2023
	Income			Expense		Total			Income			Expense		Total
	MCh$			MCh$		MCh$			MCh$			MCh$		MCh$
Gain from fair value accounting hedges		—			—		—			—			—		—
Loss from fair value accounting hedges		—			—		—			—			—		—
Gain from cash flow accounting hedges		3,087			—		3,087			—			—		—
Loss from cash flow accounting hedges		(20,285	)		—		(20,285	)		(26,508	)		—		(26.508	)
Net gain on hedge items		—			—		—			—			—		—
Total		(17,198	)		—		(17,198	)		(26,508	)		—		(26.508	)

131

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

32. Income and Expeses from commissions:

The income and expenses for commissions that are shown in the Interim Consolidated Statement of Income for the period is as following:

	March		March
	2024		2023
	MCh$		MCh$
Income from commissions and services rendered
Comissions from card services		56,383		59,966
Remuneration from administration of mutual funds, investment funds or others		32,396		28,395
Comissions from collections and payments		20,011		18,808
Comissions from portfolio management		17,104		14,124
Comissions from guarantees and letters of credit		10,033		8,828
Use of distribution channel		7,623		7,533
Brand use agreement		6,903		7,445
Insurance not related to the granting of credits to natural persons		6,184		6,236
Comissions from trading and securities management		4,710		4,021
Insurance related to the granting of credits to natural persons		3,931		3,651
Comissions from credit prepayments		3,478		2,467
Insurance not related to the granting of credits to legal entities		1,695		1,919
Comissions from lines of credit and current account overdrafts		1,246		1,220
Insurance related to the granting of credits to legal entities		409		515
Comissions from factoring operations services		322		319
Financial advisory services		88		1,264
Loan commissions with letters of credit		18		26
Other commission earned		7,403		4,865
Total		179,937		171,602
Expenses from commissions and services received
Commissions from card transactions		14,790		12,690
Expenses from obligations of loyalty and merit card customers programs		12,548		4,754
Interbank transactions		9,466		11,450
Commissions from use of card brands license		2,055		2,144
Comissions from securities transaction		1,397		1,400
Collections and payments		1,055		1,086
Other commissions from services received		1,154		1,163
Total		42,465		34,687

132

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

33. Net Financial income (expense):

(a) The amount of net financial income (expense) shown in the Interim Consolidated Income Statement for the period corresponds to the following concepts:

	March			March
	2024			2023
Financial result from:	MCh$			MCh$
Financial assets held for trading at fair value through profit or loss:
Financial derivative contracts		1,485,184			1,804,209
Debt Financial Instruments		57,943			76,066
Other financial instruments		8,048			7,638
Financial liabilities held for trading at fair value through profit or loss:
Financial derivative contracts		(1,554,945	)		(1,753,446	)
Other financial instruments		(473	)		(682	)
Subtotal		(4,243	)		133,785
Non-trading financial assets mandatorily measured at fair value through profit or loss:
Debt Financial Instruments		—			—
Other financial instruments		—			—
Financial assets designated as at fair value through profit or loss:
Debt Financial Instruments		—			—
Other financial instruments		—			—
Financial liabilities designated as at fair value through profit or loss:
Current accounts and other demand deposits and savings accounts and other time deposits		—			—
Debt instruments issued		—			—
Others		—			—
Derecognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income:
Financial assets at amortized cost		—			—
Financial assets at fair value through other comprehensive income		2,539			(117	)
Financial liabilities at amortized cost		—			—
Financial instruments of regulatory capital issued		—			—
Subtotal		2,539			(117	)
Exchange, indexation and accounting hedging of foreign currency:
Gain (loss) from foreign currency exchange		(92,553	)		111,397
Gain (loss) from indexation for exchange rate		17,209			(10,148	)
Net gain (loss) from derivatives in accounting hedges of foreign currency risk		181,791			(131,945	)
Subtotal		106,447			(30,696	)
Reclassification of financial assets for changes to business models:
From financial assets at amortized cost to financial assets held for trading at fair value through profit or loss		—			—
From financial assets at fair value through other comprehensive income to financial assets held for trading at fair value through profit or loss		—			—
Modifications of financial assets and liabilities:
Financial assets at amortized cost		—			—
Financial assets at fair value through other comprehensive income		—			—
Financial liabilities at amortized cost		—			—
Lease liabilities		—			—
Financial instruments of regulatory capital issued		—			—
Ineffective accounting hedges:
Gain (loss) from ineffective cash flow accounting hedges		—			—
Gain (loss) from ineffective accounting hedges of net investment abroad		—			—
Other type of accounting hedges:
Hedges of other types of financial assets		—			—
Total		104,743			102,972

133

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

33. Net Financial income (expense), continued:

(b) Below is a detail of the income (expense) associated with the changes of provisions constituted for credit risk related to loans and contingent loans denominated in foreign currency, which is reflected in “Exchange, indexation and accounting hedging of foreign currency”.

	March			March
	2024			2023
	MCh$			MCh$
Loans and advances to Banks		(85	)		38
Commercial loans		(9,413	)		5,303
Residential mortgage loans		—			—
Consumer loans		(114	)		60
Contingent loans		(1,351	)		896
Total		(10,963	)		6,297

34. Income attributable to investments in other companies:

The income obtained from investments in companies detailed in note No. 14 corresponds to the following:

		March			March
Company	Shareholder	2024			2023
		MCh$			MCh$
Associates
Transbank S.A.	Banco de Chile		(1,058	)		799
Centro de Compensación Automatizado S.A.	Banco de Chile		263			317
Redbanc S.A.	Banco de Chile		184			169
Administrador Financiero de Transantiago S.A.	Banco de Chile		102			130
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile		70			61
Servicios de Infraestructura de Mercado OTC S.A.	Banco de Chile		21			39
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile		6			20
Subtotal Associates			(412	)		1,535
Joint Ventures
Servipag Ltda.	Banco de Chile		459			310
Artikos Chile S.A.	Banco de Chile		142			133
Subtotal Joint Ventures			601			443
Minority Investments
Banco Latinoamericano de Comercio Exterior S.A. (Bladex)	Banco de Chile		29			—
Subtotal Minority Investments			29			—
Total			218			1,978

134

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

35. Result from non-current assets and disposal groups held for sale not admissible as discontinued operations:

The composition of the results of non-current assets and disposal groups not eligible as discontinued operations during the periods 2024 and 2023 is as follows:

	March			March
	2024			2023
	MCh$			MCh$
Net income from assets received in payment or adjudicated in judicial auction
Gain (loss) on sale of assets received in lieu of payment or foreclosed at judicial auction		1,874			1,071
Other income from assets received in payment or foreclosed at judicial auction		3			11
Provisions for adjustments to net realizable value of assets received in lieu of payment or foreclosed at judicial auction		(388	)		(305	)
Charge-off assets received in lieu of payment or foreclosed at judicial auction		(2,511	)		(1,808	)
Expenses to maintain assets received in lieu of payment or foreclosed at judicial auction		(174	)		(228	)
Non-current assets held for sale
Investments in other companies		—			—
Intangible assets		—			—
Property and equipment		88			(187	)
Assets for recovery of assets transferred in financial leasing operations		95			45
Other assets		—			—
Disposal groups held for sale		—			—
Total		(1,013	)		(1,401	)

135

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

36. Other operating Income and Expenses:

a) During the periods 2024 and 2023, the Bank and its subsidiaries present other operating income, according to the following:

	March		March
	2024		2023
	MCh$		MCh$
Expense recovery		6,224		5,887
Income from investment properties		1,703		1,643
Revaluation of prepaid monthly payments		427		—
Provision for fixed income instruments		86		17
Fiduciary and trustee commissions		55		25
Foreign trade income		26		24
Release of provisions not related to credit risk		—		62
Revaluation of tax refunds from previous years		—		287
Others income		71		44
Total		8,592		7,989

b) During the periods 2024 and 2023, the Bank and its subsidiaries present other operating expenses, according to the following:

	March			March
	2024			2023
	MCh$			MCh$
Write-offs for operating risks		8,045			6,045
Insurance premiums expense to cover operational risk events		1,528			1,421
Expenses for credit operations of financial leasing		1,392			743
Legal expenses and trials		1,252			600
Card administration		314			113
Expenses for charge-off leased assets recoveries		33			103
Provision for pending operations (90 days)		101			401
(Release) expense of provisions for operational risk		(69	)		(168	)
Expense recovery from operational risk events		(3,054	)		(1,934	)
Others expenses		173			379
Total		9,715			7,703

136

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

37. Expenses from salaries and employee benefits:

The composition of the expense for employee benefit obligations during the periods 2024 and 2023 is as follows:

	March		March
	2024		2023
	MCh$		MCh$
Expenses for short-term employee benefit		132,760		125,727
Expenses for employee benefits due to termination of employment contract		5,480		4,951
Training expenses		904		1,016
Expenses for nursery and kindergarten		376		363
Other personnel expenses		1,890		1,961
Total		141,410		134,018

38. Administrative expenses:

This item is composed as follows:

	March		March
	2024		2023
	MCh$		MCh$
General administrative expenses
Information technology and communications		39,644		34,887
Maintenance and repair of property and equipment		13,722		10,141
Surveillance and securities transport services		3,117		2,894
Office supplies		2,159		1,974
External advisory services and professional services fees		2,142		4,249
External financial information and fraud prevention service		2,025		2,124
Energy, heating and other utilities		1,579		1,369
Postal box, mail, postage and home delivery services		1,523		942
Donations		1,383		770
Legal and notary expenses		1,267		1,007
Other expenses of obligations for lease contracts		1,165		1,083
Insurance premiums except to cover operational risk events		1,141		977
External service of custody of documentation		1,105		960
Expenses for short-term leases		651		1,052
Representation and travel expenses		627		730
Card embossing service		548		384
Fees for other technical reports		260		247
Fees for review and audit of the financial statements by the external auditor		201		158
Expenses for leases low value		138		112
Fines applied by other agencies		7		26
Other general administrative expenses		5,819		5,451
Outsource services
Technological developments expenses, certification and technology testing		6,001		5,001
Data processing		2,618		3,065
External collection service		1,209		1,019
External credit evaluation service		1,202		1,632
External human resources administration services and supply of external personnel		535		403
Other outsource services		198		167
External cleaning service, casino, custody of files and documents, storage of furniture and equipment		126		90
Call Center service for sales, marketing, quality control customer service		50		25
Board expenses
Board of Directors Compensation		810		801
Other Board expenses		16		7
Marketing		9,604		9,271
Taxes, contributions and other legal charges
Contribution to the banking regulator		3,808		3,624
Real estate contributions		1,666		1,279
Taxes other than income tax		670		614
Municipal patents		471		434
Other legal charges		16		22
Total		109,223		98,991

137

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

39. Depreciation and Amortization:

The amounts corresponding to charges to results for depreciation and amortization during the periods 2024 and 2023, are detailed as follows:

	March		March
	2024		2023
	MCh$		MCh$
Amortization of intangibles assets
Other intangible assets arising from business combinations		—		—
Other independently originated intangible assets		8,558		6,655
Depreciation of property and equipment
Buildings and land		2,417		2,281
Other property and equipment		5,146		5,213
Depreciation and impairment of leased assets
Buildings and land		6,910		8,285
Other property and equipment		—		—
Depreciation for improvements in leased real estate as leased of right-to-use assets		282		236
Amortization for the right-to-use other intangible assets under lease		—		—
Depreciation of other assets for investment properties		89		89
Amortization of other assets per activity income asset		—		—
Total		23,402		22,759

40. Impairment of non-financial assets:

As of March 31, 2024 and 2023, the composition of the item for impairment of non-financial assets is composed as follows:

	March		March
	2024		2023
	MCh$		MCh$
Impairment of intangible assets		—		—
Impairment of property and equipment		—		1
Impairment of assets from income from ordinary activities from contracts with customers		94		(30	)
Total		94		(29	)

138

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41. Credit loss expense:

(a) The composition is as follows:

	March			March
	2024			2023
	MCh$			MCh$
Expense of provisions established for loan credit risk		118,806			117,842
Expense of special provisions for credit risk		6,038			694
Recovery of written-off credits		(13,161	)		(12,013	)
Impairments for credit risk from financial assets at fair value through other comprehensive income		1,485			(1,015	)
Total		113,168			105,508

(b) Summary of the expense of provisions constituted for credit risk and expense for credit losses:

	Expense of loans provisions constituted in the period
	Normal Portfolio					Substandard Portfolio			Non-Complying Portfolio							Deductible warranty
	Evaluation					Evaluation			Evaluation							Fogape
	Individual		Group			Individual			Individual		Group		Subtotal			Covid-19			Total
	MCh$		MCh$			MCh$			MCh$		MCh$		MCh$			MCh$			MCh$
As of March 31, 2024
Loans and advances to Banks
Provisions established		—		—			—			—		—		—			—			—
Provisions released		—		—			—			—		—		—			—			—
Subtotal		—		—			—			—		—		—			—			—
Commercial loans
Provisions established		8,315		647			—			9,426		15,732		34,120			—			34,120
Provisions released		—		—			(136	)		—		—		(136	)		(2,302	)		(2,438	)
Subtotal		8,315		647			(136	)		9,426		15,732		33,984			(2,302	)		31,682
Residential mortgage loans
Provisions established		—		42			—			—		2,264		2,306			—			2,306
Provisions released		—		—			—			—		—		—			—			—
Subtotal		—		42			—			—		2,264		2,306			—			2,306
Consumer loans
Provisions established		—		—			—			—		93,563		93,563			—			93,563
Provisions released		—		(8,745	)		—			—		—		(8,745	)		—			(8,745	)
Subtotal		—		(8,745	)		—			—		93,563		84,818			—			84,818
Expense (release) of provisions for credit risk		8,315		(8,056	)		(136	)		9,426		111,559		121,108			(2,302	)		118,806
Recovery of written-off credits
Loans and advances to Banks																				—
Commercial loans																				(3,138	)
Residential mortgage loans																				(1,423	)
Consumer loans																				(8,600	)
Subtotal																				(13,161	)
Loan credit loss expenses																				105,645

139

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41. Credit loss expense, continued:

(b) Summary of the expense of provisions constituted for credit risk and expense for credit losses, continued;

	Expense of loans provisions constituted in the period
	Normal Portfolio					Substandard Portfolio			Non-Complying Portfolio							Deductible warranty
	Evaluation					Evaluation			Evaluation							Fogape
	Individual		Group			Individual			Individual		Group		Subtotal			Covid-19			Total
	MCh$		MCh$			MCh$			MCh$		MCh$		MCh$			MCh$			MCh$
As of March 31, 2023
Loans and advances to Banks
Provisions established		3		—			—			—		—		3			—			3
Provisions released		—		—			—			—		—		—			—			—
Subtotal		3		—			—			—		—		3			—			3
Commercial loans
Provisions established		2,028		752			—			7,205		19,349		29,334			—			29,334
Provisions released		—		—			(922	)		—		—		(922	)		(6,472	)		(7,394	)
Subtotal		2,028		752			(922	)		7,205		19,349		28,412			(6,472	)		21,940
Residential mortgage loans
Provisions established		—		—			—			—		3,262		3,262			—			3,262
Provisions released		—		(304	)		—			—		—		(304	)		—			(304	)
Subtotal		—		(304	)		—			—		3,262		2,958			—			2,958
Consumer loans
Provisions established		—		15,428			—			—		77,513		92,941			—			92,941
Provisions released		—		—			—			—		—		—			—			—
Subtotal		—		15,428			—			—		77,513		92,941			—			92,941
Expense (release) of provisions for credit risk		2,031		15,876			(922	)		7,205		100,124		124,314			(6,472	)		117,842
Recovery of written-off credits
Loans and advances to Banks																				—
Commercial loans																				(2,947	)
Residential mortgage loans																				(2,555	)
Consumer loans																				(6,511	)
Subtotal																				(12,013	)
Loan credit loss expenses																				105,829

140

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

41. Credit loss expense, continued:

(c) Summary of expense for special provisions for credit risk:

	March			March
	2024			2023
	MCh$			MCh$
Expenses of provisions for contingent loans:
Loans and advances to Banks		—			—
Commercial loans		3,017			134
Consumer loans		(316	)		(133	)
Expenses form provisions for country risk for transactions with debtors with residence abroad		3,337			693
Expense of special provisions for loans abroad		—			—
Expenses of additional loan provisions:
Commercial loans		—			—
Residential mortgage loans		—			—
Consumer loans		—			—
Expense of other special provisions established for credit risk		6,038			694

42. Income from discontinued operations:

As of March 31, 2024 and December 31, 2023, the Bank does not maintain income from discontinued operations.

43. Related Party Disclosures:

Related parties are considered to be those natural or legal persons who are in positions to directly or indirectly have significant influence through their ownership or management of the Bank and its subsidiaries, as set out in the Compendium of Accounting Standards for Banks and Chapter 12-4 of the current Compilation of Standards issued by the CMF.

According to the above, the Bank has considered as related parties those natural or legal persons who have a direct participation or through third parties on Bank ownership, where such participation exceeds 5% of the shares, and also people who, regardless of ownership, have authority and responsibility for planning, management and control of the activities of the entity or its subsidiaries. There also are considered as related the companies in which the parties related by ownership or management of the Bank have a share which reaches or exceeds 5%, or has the position of director, general manager or equivalent.

141

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(a) Assets and liabilities with related parties:

	Related Party Type
Type of current assets and liabilities with related parties As of March 31, 2024	Parent Entity		Other Legal Entity			Key Personnel of the Consolidated Bank			Othe Related Party			Total
ASSETS	MCh$		MCh$			MCh$			MCh$			MCh$
Financial assets held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		270,986			—			—			270,986
Debt financial instruments		—		—			—			—			—
Other financial instruments		—		22			—			—			22
Non-trading financial assets mandatorily measured at fair value through profit or loss		—		—			—			—			—
Financial assets designated as at fair value through profit or loss		—		—			—			—			—
Financial assets at fair value through other comprehensive income		—		—			—			—			—
Derivative Financial Instruments for hedging purposes		—		—			—			—			—
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—			—			—			—
Debt financial instruments		—		—			—			—			—
Commercial loans		—		212,424			900			10,997			224,321
Residential mortgage loans		—		—			17,212			60,026			77,238
Consumer Loans		—		7			1,761			11,057			12,825
Allowances established – loans		—		(2,461	)		(17	)		(270	)		(2,748	)
Other assets		10		170,371			1			6			170,388
Contingent loans		—		127,651			4,340			18,706			150,697
LIABILITIES
Financial liabilities held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		321,527			—			—			321,527
Financial liabilities designated as at fair value through profit or loss		—		—			—			—			—
Derivative Financial Instruments for hedging purposes		—		1,458			—			—			1,458
Financial liabilities at amortized cost:
Current accounts and other demand deposits		95		161,343			2,360			7,690			171,488
Saving accounts and time deposits		79,603		194,980			5,377			25,056			305,016
Obligations by repurchase agreements and securities lending		—		3,709			—			—			3,709
Borrowings from financial institutions		—		47,136			—			—			47,136
Debt financial instruments issued		—		—			—			—			—
Other financial obligations		—		—			—			—			—
Lease liabilities		—		10,557			—			—			10,557
Other liabilities		—		150,503			204			2			150,709

142

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(a) Assets and liabilities with related parties, continued:

	Related Party Type
Type of current assets and liabilities with related parties As of December 31, 2023	Parent Entity		Other Legal  Entity			Key Personnel of the Consolidated Bank			Othe Related Party			Total
ASSETS	MCh$		MCh$			MCh$			MCh$			MCh$
Financial assets held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		212,147			—			—			212,147
Debt financial instruments		—		—			—			—			—
Other financial instruments		—		1,410			—			—			1,410
Non-trading financial assets mandatorily measured at fair value through profit or loss		—		—			—			—			—
Financial assets designated as at fair value through profit or loss		—		—			—			—			—
Financial assets at fair value through other comprehensive income		—		6,328			—			—			6,328
Derivative Financial Instruments for hedging purposes		—		—			—			—			—
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—			—			—			—
Debt financial instruments		—		—			—			—			—
Commercial loans		—		199,564			1,028			11,340			211,932
Residential mortgage loans		—		—			17,975			60,153			78,128
Consumer Loans		—		5			1,969			11,739			13,713
Allowances established – loans		—		(1,709	)		(19	)		(312	)		(2,040	)
Other assets		10		169,124			13			16			169,163
Contingent loans		—		119,510			4,058			17,714			141,282
LIABILITIES
Financial liabilities held for trading at fair value through profit or loss:
Derivative Financial Instruments		—		242,098			—			—			242,098
Financial liabilities designated as at fair value through profit or loss		—		—			—			—			—
Derivative Financial Instruments for hedging purposes		—		5,674			—			—			5,674
Financial liabilities at amortized cost:
Current accounts and other demand deposits		336		200,019			2,161			7,652			210,168
Saving accounts and time deposits		85,904		160,760			4,392			24,265			275,321
Obligations by repurchase agreements and securities lending		—		2,003			—			—			2,003
Borrowings from financial institutions		—		86,642			—			—			86,642
Debt financial instruments issued		—		—			—			—			—
Other financial obligations		—		—			—			—			—
Lease liabilities		—		10,845			—			—			10,845
Other liabilities		—		152,457			493			53			153,003

143

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(b) Income and expenses from related party transactions (*):

As of March 31, 2024	Parent Entity		Other Legal Entity		Key personnel of the consolidated Bank			Other Related party			Total
	MCh$		MCh$		MCh$			MCh$			MCh$
Interest revenue		—		3,892		141			740			4,773
UF indexation revenue		—		342		156			573			1,071
Income from commissions		27		23,454		11			22			23,514
Net Financial income (expense)		—		19,299		—			—			19,299
Other income		—		—		—			—			—
Total Income		27		46,987		308			1,335			48,657
Interest expense		746		3,112		99			448			4,405
UF indexation expenses		—		—		3			—			3
Expenses from commissions		—		5,377		—			—			5,377
Expenses credit losses (gains)		—		851		(2	)		(36	)		813
Expenses from salaries and employee benefits		—		16		19,917			32,676			52,609
Administrative expenses		—		2,107		935			34			3,076
Other expenses		—		—		—			3			3
Total Expenses		746		11,463		20,952			33,125			66,286

As of March 31, 2023	Parent Entity		Other Legal Entity			Key personnel of the consolidated Bank			Other Related party			Total
	MCh$		MCh$			MCh$			MCh$			MCh$
Interest revenue		—		8,854			132			663			9,649
UF indexation revenue		—		1,882			229			897			3,008
Income from commissions		60		26,084			3			10			26,157
Net Financial income (expense)		—		2,973			—			—			2,973
Other income		—		219			—			—			219
Total Income		60		40,012			364			1,570			42,006
Interest expense		193		1,831			104			624			2,752
UF indexation expenses		—		—			—			—			—
Expenses from commissions		—		10,082			—			—			10,082
Expenses credit losses (gains)		—		(399	)		(1	)		(18	)		(418	)
Expenses from salaries and employee benefits		—		19			21,136			31,940			53,095
Administrative expenses		—		4,676			932			37			5,645
Other expenses		—		—			—			4			4
Total Expenses		193		16,209			22,171			32,587			71,160

(*) This does not constitute a Statement of Income from operations with related parties since the assets with these parties are not necessarily equal to the liabilities and in each of them the total income and expenses are reflected and not those corresponding to matched operations.

144

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(c) Transactions with related parties: Below are the individual transactions in the period with related parties that are legal persons, which do not correspond to the usual operations of the line of business carried out with customers in general and when said individual transactions consider a transfer of resources, services or obligations greater than UF 2,000.

As of March 31, 2024

		Description of the transaction			Transactions under equivalence conditions to those transactions with mutual			Effect on Income				Effect on Financial position
Company name	Nature of the relationship with the Bank	Type of service	Term	Renewal conditions	independence between the parties	Amount		Income		Expenses		Accounts receivable		Accounts payable
						MCh$		MCh$		MCh$		MCh$		MCh$
Ionix SPA	Other related parties	IT support services	30 days	Contract	Yes		83		—		83		—		—
Servipag Ltda.	Joint venture	IT support services	30 days	Contract	Yes		103		—		103		—		—
		Collection services	30 days	Contract	Yes		1,043		—		1,043		—		235
Bolsa de Comercio de Santiago, Bolsa de Valores	Minority investments	Service of financial information	30 days	Contract	Yes		94		—		94		—		26
		Brokerage commission	30 days	Contract	Yes		89		—		89		—		—
		IT support services	30 days	Contract	Yes		77		—		77		—		—
Enex S.A.	Other related parties	Rent spaces for ATM	30 days	Contract	Yes		464		—		464		—		221
Redbanc S.A.	Associates	Electronic transaction management services	30 days	Contract	Yes		2,793		—		2,793		—		—
		IT services	30 days	Contract	Yes		206		—		206		—		—
Depósito Central de Valores S.A.	Other related parties	Quality control and custodial services	30 days	Contract	Yes		244		—		244		—		—
		Custodial services	30 days	Contract	Yes		282		—		282		—		—
Manantial S.A.	Other related parties	General expenses	30 days	Contract	Yes		95		—		95		—		—
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Associates	Collection services	30 days	Contract	Yes		176		—		176		—		—
Comder Contraparte Central S.A.	Other related parties	Securities clearing services	30 days	Contract	Yes		156		—		156		—		—
Citigroup Global Markets INC	Other related parties	Brokerage commission	30 days	Contract	Yes		112		—		112		—		—
Transbank S.A.	Associates	Card processing	30 days	Contract	Yes		131		—		131		—		74
		Exchange commission	30 days	Contract	Yes		20,445		20,445				9		—
Centro de Compensación Automatizado S.A.	Associates	Fraud prevention services	30 days	Contract	Yes		166		—		166		—		—
		Transfer services	30 days	Contract	Yes		654		—		654		—		—
Artikos Chile S.A.	Joint venture	IT support services	30 days	Contract	Yes		106		—		106		—		17
		IT services	30 days	Contract	Yes		80		—		80		—		—
Citibank N.A.	Other related parties	Connectivity business commissions	Quarterly	Contract	Yes		2,180		2,180		—		2,936		—
Nuevos Desarrollos S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		58		—		—		—		113
Plaza Vespucio SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		31		—		—		—		234
Plaza Oeste SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		61		—		—		—		914
Plaza del Trébol SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		59		—		—		—		517
Plaza Tobalaba SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		33		—		—		—		201
Plaza la Serena SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		55		—		—		—		669
Inmobiliaria Mall Calama S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		35		—		—		—		284

145

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(c) Transactions with related parties, continued:

As of December 31, 2023

		Description of the transaction				Transactions under equivalence conditions to those transactions with mutual		Effect on Income				Effect on Financial position
Company name	Nature of the relationship with the Bank	Type of service	Term		Renewal conditions	independence between the parties	Amount	Income		Expenses		Accounts receivable		Accounts payable
							MCh$	MCh$		MCh$		MCh$		MCh$
Ionix SPA	Other related parties	IT license services		30 days	Contract	Yes	637		—		637		—		61
		IT support services		30 days	Contract	Yes	349		—		349		—		—
Servipag Ltda.	Joint venture	IT support services		30 days	Contract	Yes	386		—		386		—		—
		Collection services		30 days	Contract	Yes	4,358		—		4,358		—		432
		Software services		30 days	Contract	Yes	220		—		220		—		—
Bolsa de Comercio de Santiago, Bolsa de Valores	Minority investments	Service of financial information		30 days	Contract	Yes	362		—		362		—		1
		Brokerage commission		30 days	Contract	Yes	344		—		344		—		—
		IT support services		30 days	Contract	Yes	289		—		289		—		—
Enex S.A.	Other related parties	Rent spaces for ATM		30 days	Contract	Yes	1,381		—		1,381		—		221
DCV Registros S.A.	Other related parties	IT services		30 days	Contract	Yes	319		—		319		—		—
CCLV Contraparte Central S.A.	Minority investments	Brokerage commission		30 days	Contract	Yes	272		—		272		—		—
Redbanc S.A.	Associates	Electronic transaction management services		30 days	Contract	Yes	15,570		—		15,570		—		1,589
		IT proyect services		30 days	Contract	Yes	542		—		542		—		—
		IT services		30 days	Contract	Yes	330		—		330		—		—
		Fraud prevention services		30 days	Contract	Yes	82		—		82		—		—
Sistemas Oracle de Chile Ltda.	Other related parties	IT services		30 days	Contract	Yes	91		—		91		—		—
		IT support services		30 days	Contract	Yes	1,326		—		1,326		—		—
Depósito Central de Valores S.A.	Other related parties	Quality control and custodial services		30 days	Contract	Yes	1,026		—		1,026		—		42
		Custodial services		30 days	Contract	Yes	1,042		—		1,042		—		—
Manantial S.A.	Other related parties	General expenses		30 days	Contract	Yes	366		—		366		—		—
Universidad Del Desarrollo	Other related parties	Loyalty		30 days	Contract	Yes	115		—		115		—		7
Universidad Adolfo Ibañez	Other related parties	Training		30 days	Contract	Yes	334		—		334		—		—
Canal 13 S.A.	Other related parties	Advertising service		30 days	Monthly	Yes	92		—		92		—		36
Nexus S.A.	Other related parties	General income		30 days	Contract	Yes	148		148		—		—		—
		Card processing		30 days	Contract	Yes	3,487		—		3,487		—		—
		IT services		30 days	Contract	Yes	405		—		405		—		—
		Embossing services		30 days	Contract	Yes	235		—		235		—		—
		Customer product delivery services		30 days	Contract	Yes	273		—		273		—		—
		Fraud prevention services		30 days	Contract	Yes	380		—		380		—		—
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Associates	Collection services		30 days	Contract	Yes	669		—		669		—		61
Comder Contraparte Central S.A.	Other related parties	Securities clearing services		30 days	Contract	Yes	703		—		703		—		—
Bolsa Electrónica de Chile S.A.	Minority investments	Brokerage commission		30 days	Contract	Yes	141		—		141		—		—
		Service of financial information		30 days	Contract	Yes	84		—		84		—		—
Citigroup Global Markets INC	Other related parties	Brokerage commission		30 days	Contract	Yes	363		—		363		—		—
Transbank S.A.	Associates	Card processing		30 days	Contract	Yes	580		—		580		—		51
		Project consultation		30 days	Contract	Yes	153		—		153		—		—
		Exchange commission		30 days	Contract	Yes	93,168		93,168		—		9		—
Centro de Compensación Automatizado S.A.	Associates	Fraud prevention services		30 days	Contract	Yes	553		—		553		—		300
		Transfer services		30 days	Contract	Yes	2,581		—		2,581		—		—
		Collection services		30 days	Contract	Yes	180		—		180		—		—
Artikos Chile S.A.	Joint venture	IT support services		30 days	Contract	Yes	457		—		457		—		19
		IT services		30 days	Contract	Yes	383		—		383		—		—
Citibank N.A.	Other related parties	Connectivity business commissions		Quarterly	Contract	Yes	5,867		5,867		—		2,517		—
Nuevos Desarrollos S.A.	Other related parties	Financial lease agreements		30 days	Contract	Yes	335		—		—		—		129
Plaza Vespucio SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	82		—		—		—		261
Plaza Oeste SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	243		—		—		—		963
Plaza del Trébol SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	292		—		—		—		373
Plaza Tobalaba SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	128		—		—		—		229
Plaza la Serena SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	246		—		—		—		714
Inmobiliaria Mall Calama S.A.	Other related parties	Financial lease agreements		30 days	Contract	Yes	162		—		—		—		306
Plaza Antofagasta SPA	Other related parties	Financial lease agreements		30 days	Contract	Yes	87		—		—		—		—

146

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

43. Related Party Disclosures, continued:

(d) Payments to the Board of Directors and to key personnel of the management of the Bank and its subsidiaries:

	March		March
	2024		2023
	MCh$		MCh$
Directory:
Payment of remuneration and attendance fees of the Board of Directors - Bank and its subsidiaries		810		801
Key Personnel of the Management of the Bank and its Subsidiaries:
Payment for benefits to short-term employees		19,297		21,136
Payment for benefits to employees for termination of employment contract		620		—
Payment for benefits to post-employment employees		—		—
Payment for benefits to long-term employees		—		—
Payment to employees based on shares or equity instruments		—		—
Payment for obligations for defined contribution post-employment plans		—		—
Payment for obligations for post-employment defined benefit plans		—		—
Payment for other staff obligations		—		—
Subtotal		19,917		21,136
Total		20,727		21,937

(e) Composition of the Board of Directors and key personnel of the Management of the Bank and its subsidiaries:

	March		March
	2024		2023
	No. Executives
Directory:
Directors – Bank and its subsidiaries		16		17
Key Personnel of the Management of the Bank and its Subsidiaries:
CEO – Bank		1		1
CEOs – Subsidiaries		5		5
Division Managers / Area – Bank		88		91
Division Managers / Area – Subsidiaries		29		32
Subtotal		123		129
Total		139		146

147

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities:

Banco de Chile and its subsidiaries have defined a corporate framework for valuation and control related with the process to the fair value measurement.

Within the established framework includes the Product Control Unit, which is independent of the business areas and reports to the Financial Management Control and Division Manager. This function befall to the Financial Control, Treasury and Capital Manager, through the Financial Risk Information and Control Section, is responsible for independent verification of price and results of trading (including derivatives) and investment operations and all fair value measurements.

To achieve the appropriate measurements and controls, the Bank and its subsidiaries, take into account at least the following aspects:

(i) Industry standard valuation.

To value financial instruments, Banco de Chile uses industry standard modeling; quota value, share price, discounted cash flows and valuation of options through Black-Scholes-Merton, according to the case.

The input parameters for the valuation of fixed income instruments and options correspond to rates, prices and volatility levels for different terms and market factors that are traded in the national and international market and that are provided by the main sources of the market.

In the case of the valuation of derivatives under a CSA (Credit Support Annex Discounting) agreement, the rates used to discount the flows correspond to the CSA Discounting methodology, where the discount factors used depend on the collateral agreement that exists with each counterparty.

(ii) Quoted prices in active markets.

The fair value for instruments with quoted prices in active markets is determined using daily quotes from electronic systems information (such as Bolsa de Comercio de Santiago, Bloomberg, LVA and Risk America, etc). This quote represents the price at which these instruments are regularly traded in the financial markets.

(iii) Valuation techniques.

If no specific quotes are available for the instrument to be valued, valuation techniques will be used to determine the fair value.

Due to, in general, the valuation models require a set of market parameters as inputs, the aim is to maximize information based on observable or price-related quotations for similar instruments in active markets. To the extent there is no information in direct from the markets, data from external suppliers of information, prices of similar instruments and historical information are used to validate the valuation parameters.

148

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(iv) Fair value adjustments.

Part of the fair value process considers four adjustments to the market value, calculated based on the market parameters, including; a liquidity adjustment, a Bid/Offer adjustment, an adjustment for derivative credit risk (CVA and DVA), and an adjustment for the funding of the derivative cash flows (FVA). Likewise, for certain fixed income instruments held in investment portfolios measured at fair value through other comprehensive income or at amortized cost, the portion of the fair value adjustment explained by impairment due to counterparty credit risk is determined.

The calculation of the liquidity adjustment considers the size of the position in each factor, the particular liquidity of each factor, the relative size of Banco de Chile with respect to the market, and the liquidity observed in transactions recently carried out in the market. In turn, the Bid/Offer adjustment, represents the impact on the valuation of an instrument depending on whether the position corresponds to a long (bought) or a short (sold). To calculate this adjustment is used the direct quotes from active markets or indicative prices or derivatives of similar assets depending on the instrument, considering the Bid, Mid and Offer, respectively. Finally, the adjustment made for CVA and DVA for derivatives corresponds to the credit risk recognition of the issuer, either of the counterparty (CVA) or of Banco de Chile (DVA). Similarly, the determination of credit risk impairment is determined based on the counterparty risk implicit in the instrument’s market rate. Finally, the FVA adjustment for derivatives corresponds to a value adjustment that reflects the expected cost (or benefit) of financing (reinvesting) the cash flows of the derivative, with respect to a reference discount rate, when there are no collaterals or this one is imperfect.

It should be noted that there is also the concept of COLVA for derivatives, which is an adjustment to the valuation if a derivative is valued with parameters other than those used in the CSA Discounting methodology, mentioned above. As the valuation methodology used by Banco de Chile is CSA Discounting, the COLVA is already part of the Mark-to-Market (MTM) of the derivative and no additional adjustment is required for this concept. In any case, the Bank measures a COLVA for internal management purposes, with respect to a SOFR Discounting scenario (scenario where all derivatives have USD SOFR collateral).

Liquidity value adjustments are made to trading instruments (including derivatives) only, while Bid / Offer adjustments are made for trading instruments and Financial instrument at fair value through Other Comprehensive Income. Adjustments for CVA/DVA/FVA/COLVA are carried out only for derivatives. For its part, credit risk impairment is computed only for fixed income instruments measured at fair value through other comprehensive income and fixed income instruments measured at amortized cost.

149

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(v) Fair value control.

A process of independent verification of prices and interest rates is executed daily, in order to control that the market parameters used by Banco de Chile in the valuation of the financial instruments relating to the current state of the market and from them the best estimate derived of the fair value. The objective of this process is to control that the official market parameters provided by the respective business areas, before being entered into the valuation, are within acceptable ranges of differences when compared to the same set of parameters prepared independently by the Financial Risk Information and Control Section. As a result, value differences are obtained at the level of currency, product and portfolio. In the event significant differences exist, these differences are scaled according to the amount of individual materiality of each market factor and aggregated at the portfolio level, according to the grouping levels within previously defined ranges. These ranges are approved by the Finance, International and Financial Risk Committee.

Complementary and in parallel, the Financial Risk Information and Control Section generates and reports on a daily basis Profit and Loss (“P&L”) and Exposure to Market Risks, which allow for proper control and consistency of the parameters used in the valuation.

(vi) Judgmental analysis and information to Management.

In particular cases, where there are no market quotations for the instrument to be valued and there are no prices for similar transactions instruments or indicative parameters, a specific control and a reasoned analysis must be carried out in order to estimate the fair value of the operation. Within the valuation framework described in the Reasonable Value Policy (and its procedure) approved by the Board of Directors of Banco de Chile, a required level of approval is set in order to carry out transactions where market information is not available or it is not possible to infer prices or rates from it.

(a) Hierarchy of instrument valued at Fair value:

Banco de Chile and its subsidiaries, classify all the financial instruments among the following levels:

Level 1: These are financial instruments whose fair value is calculated at quoted prices (unadjusted) in extracted from liquid and deep markets. For these instruments there are quotes or prices (return internal rates, quote value, price) the observable market, so that assumptions are not required to determine the value.

In this level, the following instruments are considered: currency futures, debt instruments issued by the Treasury and the Central Bank of Chile, which belong to benchmarks, mutual fund investments and equity shares.

For the instruments of the Central Bank of Chile and the General Treasury of the Republic, all those mnemonics belonging to a Benchmark, in other words corresponding to one of the following categories published by the Santiago Stock Exchange, will be considered as Level 1: Pesos-02, Pesos-03, Pesos-04, Pesos-05, Pesos-07, Pesos-10, UF-02, UF-04, UF-05, UF-07, UF-10, UF-20, UF-30.

150

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

A Benchmark corresponds to a group of mnemonics that are similar in duration and are traded in an equivalent way, i.e., the price (return internal rates in this case) obtained is the same for all the instruments that make up a Benchmark. This feature defines a greater depth of market, with daily quotations that allow classifying these instruments as Level 1.

In the case of debt issued by the Chilean Government, the internal rate of return of the market is used to discount all flows to present value. In the case of mutual funds and equity shares, the current market price per share, which multiplied by the number of instruments results in the fair value.

The preceding described valuation methodology is equivalent to the one used by the Bolsa de Comercio de Santiago (Santiago Stock Exchange) and correspond to the standard methodology used in the market.

Level 2: They are financial instruments whose fair value is calculated based on prices other than in quoted in Level 1 that are observable for the asset or liability, directly (that is, as prices or internal rates of return) or indirectly (that is, derived from prices or internal rates of return from similar instruments). These categories include:

a) Quoted prices for similar assets or liabilities in active markets.

b) Quoted prices for identical or similar assets or liabilities in markets that are not active.

c) Inputs data other than quoted prices that are observable for the asset or liability.

d) Inputs data corroborated by the market.

At this level there are mainly derivatives instruments, debt issued by banks, debt issues of Chilean and foreign companies, issued in Chile or abroad, mortgage claims, financial brokerage instruments and some issuances by the Central Bank of Chile and the General Treasury of the Republic, which do not belong to benchmarks.

To value derivatives, depends on whether they are impacted by volatility as a relevant market factor in standard valuation methodologies; for options the Black-Scholes-Merton formula is used; for the rest of the derivatives, forwards and swaps, discounted cash flows method is used.

For the remaining instruments at this level, as for debt issues of level 1, the valuation is done through cash flows model by using an internal rate of return that can be derived or estimated from internal rates of return of similar securities as mentioned above.

In the event that there is no observable price for an instrument in a specific term, the price will be inferred from the interpolation between periods that have observable quoted price in active markets. These models incorporate various market variables, including the credit quality of counterparties, exchange rates and interest rate curves.

151

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

Valuation Techniques and Inputs for Level 2 Instrument:

Type of Financial Instrument	Valuation Method	Description: Inputs and Sources
Local Bank and Corporate Bonds	Discounted cash flows model	Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model is based on daily prices and risk/maturity similarities between Instruments.
Offshore Bank and Corporate Bonds		Prices are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices.
Local Central Bank and Treasury Bonds		Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices.
Mortgage Notes		Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model takes into consideration daily prices and risk/maturity similarities between instruments.
Time Deposits		Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices and considers risk/maturity similarities between instruments.
Cross Currency Swaps, Interest Rate Swaps, FX Forwards, Inflation Forwards		Forward Points, Inflation forecast and local swap rates are provided by market brokers that are widely used in the Chilean market. Offshore rates and spreads are obtained from third party price providers that are widely used in the Chilean market. Zero Coupon rates are calculated by using the bootstrapping method over swap rates.
FX Options	Black-Scholes Model	Prices for volatility surface estimates are obtained from market brokers that are widely used in the Chilean market.

152

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

Level 3: These are financial instruments whose fair value is determined using non-observable inputs data neither for the assets or liabilities under analysis nor for similar instruments. An adjustment to an input that is significant to the entire measurement can result in a fair value measurement classified within Level 3 of the fair value hierarchy, if the adjustment uses significant non-observable data entry.

The instruments likely to be classified as level 3 are mainly Corporate Debt by Chilean and foreign companies, issued both in Chile and abroad.

Valuation Techniques and Inputs for Level 3 Instrument:

Type of Financial Instrument	Valuation Method	Description: Inputs and Sources
Local Bank and Corporate Bonds	Discounted cash flows model	Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (Central Bank Bonds) and issuer spread. These inputs (base yield and issuer spread) are provided on a daily basis by third party price providers that are widely used in the Chilean market.
Offshore Bank and Corporate Bonds	Discounted cash flows model	Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (US-Libor) and issuer spread. These inputs (base yield and issuer spread) are provided on a weekly basis by third party price providers that are widely used in the Chilean market.

153

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(b) Level chart:

The following table shows the classification by levels, for financial instruments registered at fair value.

	Level 1				Level 2				Level 3				Total
	March		December		March		December		March		December		March		December
	2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets
Financial Assets held for trading at fair value through profit or loss
Derivative contracts financial:
Forwards		—		—		354,328		212,475		—		—		354,328		212,475
Swaps		—		—		2,163,792		1,818,155		—		—		2,163,792		1,818,155
Call Options		—		—		8,435		3,435		—		—		8,435		3,435
Put Options		—		—		188		1,311		—		—		188		1,311
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		2,526,743		2,035,376		—		—		2,526,743		2,035,376
Debt Financial Instruments:
From the Chilean Government and Central Bank		152,370		181,702		1,473,525		2,845,611		—		—		1,625,895		3,027,313
Other debt financial instruments issued in Chile		—		—		221,845		301,948		23,235		34,363		245,080		336,311
Financial debt instruments issued Abroad		—		—		—		—		—		—		—		—
Subtotal		152,370		181,702		1,695,370		3,147,559		23,235		34,363		1,870,975		3,363,624
Others		280,862		409,328		—		—		—		—		280,862		409,328
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments: (1)
From the Chilean Government and Central Bank		534,342		532,203		795,822		1,305,449		—		—		1,330,164		1,837,652
Other debt financial instruments issued in Chile		—		—		1,587,366		1,653,182		44,676		88,483		1,632,042		1,741,665
Financial debt instruments issued Abroad		—		—		234,160		207,208		—		—		234,160		207,208
Subtotal		534,342		532,203		2,617,348		3,165,839		44,676		88,483		3,196,366		3,786,525
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—		—		—
Swaps		—		—		127,182		49,065		—		—		127,182		49,065
Call Options		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		127,182		49,065		—		—		127,182		49,065
Total		967,574		1,123,233		6,966,643		8,397,839		67,911		122,846		8,002,128		9,643,918
Financial Liabilities
Financial liabilities held for trading at fair value through profit or loss:
Derivative contracts financial:
Forwards		—		—		369,115		221,965		—		—		369,115		221,965
Swaps		—		—		2,312,957		1,970,024		—		—		2,312,957		1,970,024
Call Options		—		—		2,133		1,061		—		—		2,133		1,061
Put Options		—		—		527		3,871		—		—		527		3,871
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		2,684,732		2,196,921		—		—		2,684,732		2,196,921
Others		—		—		3,765		2,305		—		—		3,765		2,305
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—		—		—
Swaps		—		—		78,674		160,602		—		—		78,674		160,602
Call Options		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—
Subtotal		—		—		78,674		160,602		—		—		78,674		160,602
Total		—		—		2,767,171		2,359,828		—		—		2,767,171		2,359,828

(1) As of March 31, 2024, 100% of instruments of Level 3 have denomination “Investment Grade”. Also, 100% of total of these financial instruments correspond to domestic issuers.

154

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(c) Level 3 reconciliation:

The following table shows the reconciliation between the balances at the beginning and at the end of period for those instruments classified in Level 3, whose fair value is reflected in the Interim Consolidated Financial Statements:

	March 2024
	Balance as of January 1, 2024		Gain (Loss) Recognized in Income (1)			Gain (Loss) Recognized in Equity (2)		Purchases		Sales			Transfer from Level 1 and 2		Transfer to Level 1 and 2			Balance as of March 31, 2024
	MCh$		MCh$			MCh$		MCh$		MCh$			MCh$		MCh$			MCh$
Financial Assets held for trading at fair value through profit or loss
Debt Financial Instruments:
Other debt financial instruments issued in Chile		34,363		606			—		353		(19,045	)		6,958		—			23,235
Subtotal		34,363		606			—		353		(19,045	)		6,958		—			23,235
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments:
Other debt financial instruments issued in Chile		88,483		(2	)		1,832		—		(25,903	)		—		(19,734	)		44,676
Subtotal		88,483		(2	)		1,832		—		(25,903	)		—		(19,734	)		44,676
Total		122,846		604			1,832		353		(44,948	)		6,958		(19,734	)		67,911

	December 2023
	Balance as of January 1, 2023		Gain (Loss) Recognized in Income (1)		Gain (Loss) Recognized in Equity (2)			Purchases		Sales			Transfer from Level 1 and 2		Transfer to Level 1 and 2			Balance as of December 31, 2023
	MCh$		MCh$		MCh$			MCh$		MCh$			MCh$		MCh$			MCh$
Financial Assets held for trading at fair value through profit or loss
Debt Financial Instruments:
Other debt financial instruments issued in Chile		100,519		767		—			18,085		(62,179	)		15,190		(38,019	)		34,363
Subtotal		100,519		767		—			18,085		(62,179	)		15,190		(38,019	)		34,363
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments:
Other debt financial instruments issued in Chile		41,283		4,093		(7,355	)		63,930		(1,695	)		3,951		(15,724	)		88,483
Subtotal		41,283		4,093		(7,355	)		63,930		(1,695	)		3,951		(15,724	)		88,483
Total		141,802		4,860		(7,355	)		82,015		(63,874	)		19,141		(53,743	)		122,846

(1) Recorded in income under item “Net Financial income (expense)”.

(2) Recorded in equity under item “Accumulated other comprehensive income”.

155

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(d) Sensitivity of instruments classified in Level 3 to changes in key assumptions of models:

The following table shows the sensitivity, by type of instrument, of those instruments classified in Level 3 using alternative in key valuation assumptions:

	As of March 31, 2024					As of December 31, 2023
	Level 3		Sensitivity to changes in key assumptions of models			Level 3		Sensitivity to changes in key assumptions of models
	MCh$		MCh$			MCh$		MCh$
Financial Assets held for trading at fair value through profit or loss
Debt Financial Instruments:
Other debt financial instruments issued in Chile		23,235		(571	)		34,363		(696	)
Subtotal		23,235		(571	)		34,363		(696	)
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments:
Other debt financial instruments issued in Chile		44,676		(1,051	)		88,483		(2,721	)
Subtotal		44,676		(1,051	)		88,483		(2,721	)
Total		67,911		(1,622	)		122,846		(3,417	)

With the purpose of determining the sensitivity of the financial investments to changes in significant market factors, the Bank has made alternative calculations at fair value, changing those key parameters for the valuation and which are not directly observable in screens. In the case of the financial assets listed in the table above, which correspond to Bank Bonds and Corporate Bonds, it was considered that, since there are no current observables prices, the input prices will be based on brokers’ quotes. The prices are usually calculated as a base rate plus a spread. For Local Bonds it was determined to apply a 10% impact on the price, while for the Off Shore Bonds it was determined to apply a 10% impact only on the spread, since the base rate is covered by interest rate swaps instruments in the so-called accounting hedges. The 10% impact is considered reasonable, taking into account the market performance of these instruments and comparing it against the bid / offer adjustment that is provisioned by these instruments.

156

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(e) Other assets and liabilities:

The following table summarizes the fair values of the Bank’s main financial assets and liabilities that are not recorded at fair value in the Interim Consolidated Statement of Financial Position. The values shown in this note are not attempt to estimate the value of the Bank’s income-generating assets, nor forecast their future behavior. The estimated fair value is as follows:

	Book Value				Estimated Fair Value
	March		December		March		December
	2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		3,248,501		2,464,648		3,248,501		2,464,648
Transactions in the course of collection		371,068		415,505		371,068		415,505
Subtotal		3,619,569		2,880,153		3,619,569		2,880,153
Financial assets at amortized cost:
Rights from resale agreements and securities lending		56,530		71,822		56,530		71,822
Debt financial instruments		4,071,555		1,431,083		4,008,459		1,368,416
Loans and advances to Banks:
Domestic banks		—		—		—		—
Central Bank of Chile		800,467		2,100,933		800,467		2,100,933
Foreign banks		416,280		418,247		409,497		412,662
Subtotal		5,344,832		4,022,085		5,274,953		3,953,833
Loans to customers, net:
Commercial loans		19,873,421		19,624,909		19,344,708		19,193,778
Residential mortgage loans		12,454,420		12,269,148		11,905,999		11,656,071
Consumer loans		4,974,734		4,937,679		5,081,702		5,025,163
Subtotal		37,302,575		36,831,736		36,332,409		35,875,012
Total		46,266,976		43,733,974		45,226,931		42,708,998
Liabilities
Transactions in the course of payment		296,700		356,871		296,700		356,871
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,539,960		13,321,660		13,539,960		13,321,660
Saving accounts and time deposits		15,632,789		15,365,562		15,633,798		15,363,772
Obligations by repurchase agreements and securities lending		185,126		157,173		185,126		157,173
Borrowings from financial institutions		5,625,691		5,360,715		5,538,658		5,152,776
Debt financial instruments issued:
Letters of credit for residential purposes		1,255		1,433		1,327		1,533
Letters of credit for general purposes		8		11		8		12
Bonds		9,721,293		9,358,621		9,486,518		9,090,188
Other financial obligations		273,991		339,305		274,063		339,327
Subtotal		44,980,113		43,904,480		44,659,458		43,426,441
Financial instruments of regulatory capital issued:
Subordinate bonds		1,053,813		1,039,814		1,044,828		1,035,801
Total		46,330,626		45,301,165		46,000,986		44,819,113

Other financial assets and liabilities not measured at their fair value, but for which a fair value is estimated, even if not managed based on such value, include assets and liabilities such as placements, deposits and other time deposits, debt issued, and other financial assets and obligations with different maturities and characteristics. The fair value of these assets and liabilities is calculated using the Discounted Cash Flow model and the use of various data sources such as yield curves, credit risk spreads, etc. In addition, due to some of these assets and liabilities are not traded on the market, periodic reviews and analyzes are required to determine the suitability of the inputs and determined fair values.

157

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(f) Levels of other assets and liabilities:

The following table shows the estimated fair value of financial assets and liabilities not valued at their fair value, as of Mach 31, 2024 and December 31, 2023:

	Level 1 Estimated Fair Value				Level 2 Estimated Fair Value				Level 3 Estimated Fair Value				Total Estimated Fair Value
	March		December		March		December		March		December		March		December
	2024		2023		2024		2023		2024		2023		2024		2023
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		3,248,501		2,464,648		—		—		—		—		3,248,501		2,464,648
Transactions in the course of collection		371,068		415,505		—		—		—		—		371,068		415,505
Subtotal		3,619,569		2,880,153		—		—		—		—		3,619,569		2,880,153
Financial assets at amortized cost:
Rights from resale agreements and securities lending		56,530		71,822		—		—		—		—		56,530		71,822
Debt financial instruments		4,008,459		1,368,416		—		—		—		—		4,008,459		1,368,416
Loans and advances to Banks:
Domestic banks		—		—		—		—		—		—		—		—
Central Bank of Chile		800,467		2,100,933		—		—		—		—		800,467		2,100,933
Foreign banks		—		—		—		—		409,497		412,662		409,497		412,662
Subtotal		4,865,456		3,541,171		—		—		409,497		412,662		5,274,953		3,953,833
Loans to customers, net:
Commercial loans		—		—		—		—		19,344,708		19,193,778		19,344,708		19,193,778
Residential mortgage loans		—		—		—		—		11,905,999		11,656,071		11,905,999		11,656,071
Consumer loans		—		—		—		—		5,081,702		5,025,163		5,081,702		5,025,163
Subtotal		—		—		—		—		36,332,409		35,875,012		36,332,409		35,875,012
Total		8,485,025		6,421,324		—		—		36,741,906		36,287,674		45,226,931		42,708,998
Liabilities
Transactions in the course of payment		296,700		356,871		—		—		—		—		296,700		356,871
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,539,960		13,321,660		—		—		—		—		13,539,960		13,321,660
Saving accounts and time deposits		—		—		—		—		15,633,798		15,363,772		15,633,798		15,363,772
Obligations by repurchase agreements and securities lending		185,126		157,173		—		—		—		—		185,126		157,173
Borrowings from financial institutions		—		—		—		—		5,538,658		5,152,776		5,538,658		5,152,776
Debt financial instruments issued:
Letters of credit for residential purposes		—		—		1,327		1,533		—		—		1,327		1,533
Letters of credit for general purposes		—		—		8		12		—		—		8		12
Bonds		—		—		9,486,518		9,090,188		—		—		9,486,518		9,090,188
Other financial obligations		—		—		—		—		274,063		339,327		274,063		339,327
Subtotal		13,725,086		13,478,833		9,487,853		9,091,733		21,446,519		20,855,875		44,659,458		43,426,441
Financial instruments of regulatory capital issued:
Subordinate bonds		—		—		—		—		1,044,828		1,035,801		1,044,828		1,035,801
Total		14,021,786		13,835,704		9,487,853		9,091,733		22,491,347		21,891,676		46,000,986		44,819,113

158

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

44. Fair Value of Financial Assets and Liabilities, continued:

(f) Levels of other assets and liabilities, continued:

The Bank determines the fair value of these assets and liabilities according to the following:

● Short-term assets and liabilities: For assets and liabilities with short-term maturity, it is assumed that the book values approximate to their fair value. This assumption is applied to the following assets and liabilities:

Assets:	Liabilities:
-Cash and deposits in banks	-Current accounts and other demand deposits
-Transactions in the course of collection	-Transactions in the course of payments
-Investment under resale agreements and securities loans	-Obligations under repurchase agreements and securities loans
-Loans and advance to domestic banks (including the Central Bank of Chile)

● Loans to Customers and Advance to foreign banks: Fair value is determined by using the discounted cash flow model and internally generated discount rates, based on internal transfer rates derived from our internal transfer price process. Once the present value is determined, we deduct the related loan loss allowances in order to incorporate the credit risk associated with each contract or loan. As we use internally generated parameters for valuation purposes, we categorize these instruments in Level 3.

● Debt financial instruments at amortized cost: The fair value is calculated with the methodology of the Stock Exchange, using the IRR observed in the market. Because the instruments that are in this category correspond to Treasury Bonds that are Benchmark, they are classified in Level 1.

● Letters of Credit and Bonds: In order to determine the present value of contractual cash flows, we apply the discounted cash flow model by using market interest rates that are available in the market, either for the instruments under valuation or instruments with similar features that fit valuation needs in terms of currency, maturities and liquidity. The market interest rates are obtained from third party price providers widely used by the market. As a result of the valuation technique and the quality of inputs (observable) used for valuation, we categorize these financial liabilities in Level 2.

● Saving Accounts, Time Deposits, Borrowings from Financial Institutions (including the Central Bank of Chile), Subordinated Bonds and Other borrowings financial: The discounted cash flow model is used to obtain the present value of committed cash flows by applying a bucket approach and average adjusted discount rates that derived from both market rates for instruments with similar features and our internal transfer price process. As we use internally generated parameters and/or apply significant judgmental analysis for valuation purposes, we categorize these financial liabilities in Level 3.

159

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45. Maturity according to their remaining Terms of Financial Assets and Liabilities:

The table below details the main financial assets and liabilities grouped in accordance with their remaining maturity, including capitals and accrued interest as of March 31, 2024 and December 31, 2023. As these are for trading and Financial instrument at fair value through other comprehensive income are included at their fair value:

	March 2024
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year		Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		3,248,501		—		—		—		3,248,501		—		—		—		—		3,248,501
Transactions in the course of collection		—		371,068		—		—		371,068		—		—		—		—		371,068
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial		—		92,070		158,374		447,933		698,377		646,463		394,831		787,072		1,828,366		2,526,743
Debt financial instruments		—		1,870,975		—		—		1,870,975		—		—		—		—		1,870,975
Others		—		280,862		—		—		280,862		—		—		—		—		280,862
Financial assets at fair value through other comprehensive income		—		31,597		468,838		1,678,583		2,179,018		188,581		483,463		345,304		1,017,348		3,196,366
Derivative contracts financial for hedging purposes		—		—		—		18,585		18,585		12,655		55,670		40,272		108,597		127,182
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		52,211		3,518		801		56,530		—		—		—		—		56,530
Debt financial instruments (*)		—		3,148,357		—		16,545		3,164,902		463,169		129,830		313,828		906,827		4,071,729
Loans and advances to Banks (**)		—		861,821		163,322		153,119		1,178,262		39,321		—		—		39,321		1,217,583
Loans to customers, net (**)		—		5,350,457		3,654,953		6,268,642		15,274,052		7,132,356		4,011,107		11,671,651		22,815,114		38,089,166
Total financial assets		3,248,501		12,059,418		4,449,005		8,584,208		28,341,132		8,482,545		5,074,901		13,158,127		26,715,573		55,056,705

	March 2024
	Demand			Up to 1 month			Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year			Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$			MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities
Transactions in the course of payment		—			296,700			—		—		296,700			—		—		—		—		296,700
Financial liabilities held for trading at fair value through profit or loss:
Derivative contracts financial		—			94,881			180,930		440,543		716,354			679,447		515,545		773,386		1,968,378		2,684,732
Others		—			1,282			—		—		1,282			2,483		—		—		2,483		3,765
Derivative contracts financial for hedging purposes		—			—			—		—		—			7,451		—		71,223		78,674		78,674
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,539,960			—			—		—		13,539,960			—		—		—		—		13,539,960
Saving accounts and time deposits (***)		—			10,167,463			3,376,363		1,615,072		15,158,898			117,775		509		887		119,171		15,278,069
Obligations by repurchase agreements and securities lending		—			185,063			63		—		185,126			—		—		—		—		185,126
Borrowings from financial institutions		—			3,263,713			178,238		1,992,676		5,434,627			191,064		—		—		191,064		5,625,691
Debt financial instruments issued:
Letters of credit		—			144			288		279		711			150		83		319		552		1,263
Bonds		—			17,654			251,314		838,068		1,107,036			2,447,491		2,212,848		3,953,918		8,614,257		9,721,293
Other financial obligations		—			273,979			—		12		273,991			—		—		—		—		273,991
Lease liabilities		—			2,190			4,319		15,573		22,082			34,840		25,722		13,760		74,322		96,404
Financial instruments of regulatory capital issued		—			3,312			106,392		6,995		116,699			19,407		10,705		907,002		937,114		1,053,813
Total financial liabilities		13,539,960			14,306,381			4,097,907		4,909,218		36,853,466			3,500,108		2,765,412		5,720,495		11,986,015		48,839,481
Mismatch		(10,291,459	)		(2,246,963	)		351,098		3,674,990		(8,512,334	)		4,982,437		2,309,489		7,437,632		14,729,558		6,217,224

(*) These balances are presented without deduction of impairment, wich amount to Ch$174 million.

(**) These balances are presented without deduction of their respective provisions, which amount to Ch$786,591 million for loans to customers and Ch$836 million for borrowings from financial institutions.

(***) Excludes term saving accounts, which amount to Ch$354,720 million.

160

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

45. Maturity according to their remaining Terms of Financial Assets and Liabilities, continued:

	December 2023
	Demand		Up to 1 month		Over 1 month and up to 3 months		Over 3 month and up to 12 months		Subtotal up to 1 year		Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets
Cash and due from banks		2,464,648		—		—		—		2,464,648		—		—		—		—		2,464,648
Transactions in the course of collection		—		415,505		—		—		415,505		—		—		—		—		415,505
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial		—		56,847		130,507		309,218		496,572		560,641		314,649		663,514		1,538,804		2,035,376
Debt financial instruments		—		3,363,624		—		—		3,363,624		—		—		—		—		3,363,624
Others		—		409,328		—		—		409,328		—		—		—		—		409,328
Financial assets at fair value through other comprehensive income		—		180,968		721,297		1,790,913		2,693,178		257,310		478,175		357,862		1,093,347		3,786,525
Derivative contracts financial for hedging purposes		—		—		—		14,321		14,321		1,530		21,062		12,152		34,744		49,065
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		61,005		10,322		495		71,822		—		—		—		—		71,822
Debt financial instruments (*)		—		—		—		507,261		507,261		478,818		128,728		316,334		923,880		1,431,141
Loans and advances to Banks (**)		—		2,216,942		73,506		229,483		2,519,931		—		—		—		—		2,519,931
Loans to customers, net (**)		—		5,428,312		2,587,416		6,993,529		15,009,257		7,092,458		3,965,966		11,533,023		22,591,447		37,600,704
Total financial assets		2,464,648		12,132,531		3,523,048		9,845,220		27,965,447		8,390,757		4,908,580		12,882,885		26,182,222		54,147,669

	December 2023
	Demand			Up to 1 month		Over 1 month and up to 3 months			Over 3 month and up to 12 months		Subtotal up to 1 year			Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Subtotal over 1 year		Total
	MCh$			MCh$		MCh$			MCh$		MCh$			MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities
Transactions in the course of payment		—			356,871		—			—		356,871			—		—		—		—		356,871
Financial liabilities held for trading at fair value through profit or loss:
Derivative contracts financial		—			57,324		141,764			319,273		518,361			566,762		431,076		680,722		1,678,560		2,196,921
Others		—			2,160		126			—		2,286			19		—		—		19		2,305
Derivative contracts financial for hedging purposes		—			—		—			—		—			20,505		3,189		136,908		160,602		160,602
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,321,660			—		—			—		13,321,660			—		—		—		—		13,321,660
Saving accounts and time deposits (***)		—			10,037,240		3,459,981			1,450,857		14,948,078			60,622		595		542		61,759		15,009,837
Obligations by repurchase agreements and securities lending		—			157,015		158			—		157,173			—		—		—		—		157,173
Borrowings from financial institutions		—			44,387		65,902			5,091,283		5,201,572			159,143		—		—		159,143		5,360,715
Debt financial instruments issued					—
Letters of credit		—			175		282			416		873			171		80		320		571		1,444
Bonds		—			52,443		186,629			956,608		1,195,680			2,138,820		2,075,249		3,948,872		8,162,941		9,358,621
Other financial obligations		—			339,293		—			12		339,305			—		—		—		—		339,305
Lease liabilities		—			2,181		4,314			16,655		23,150			35,619		27,835		14,876		78,330		101,480
Financial instruments of regulatory capital issued		—			1,472		—			113,256		114,728			18,826		10,216		896,044		925,086		1,039,814
Total financial liabilities		13,321,660			11,050,561		3,859,156			7,948,360		36,179,737			3,000,487		2,548,240		5,678,284		11,227,011		47,406,748
Mismatch		(10,857,012	)		1,081,970		(336,108	)		1,896,860		(8,214,290	)		5,390,270		2,360,340		7,204,601		14,955,211		6,740,921

(*) These balances are presented without deduction of impairment, wich amount to Ch$58 million.

(**) These balances are presented without deduction of their respective provisions, which amount to Ch$768,968 million for loans to customers and Ch$751 million for borrowings from financial institutions.

(**) Excludes term saving accounts, which amount to Ch$355,725 million.

161

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

46. Financial and Non-Financial Assets and Liabilities by Currency:

	CLP			CLF		FX Indexation		USD			COP		GBP		EUR		CHF			JPY			CNY		Others			TOTAL
As of March 31, 2024	MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$			MCh$			MCh$		MCh$			MCh$
Assets
Financial assets		26,325,415			21,275,027		162,717		6,183,413			—		24,941		200,591		32,311			18,232			30,401		16,056			54,269,104
Non-Financial assets		2,085,048			28,001		16,957		390,643			—		689		991		—			—			—		38			2,522,367
Total Assets		28,410,463			21,303,028		179,674		6,574,056			—		25,630		201,582		32,311			18,232			30,401		16,094			56,791,471
Liabilities
Financial liabilities		30,707,475			10,538,625		606		6,333,573			—		4,699		191,478		305,595			236,315			20,297		855,538			49,194,201
Non-Financial liabilities		1,701,671			376,709		770		339,715			—		45		3,344		11			17			1		80			2,422,363
Total Liabilities		32,409,146			10,915,334		1,376		6,673,288			—		4,744		194,822		305,606			236,332			20,298		855,618			51,616,564
Mismatch of Financial Assets and Liabilities (*)		(4,382,060	)		10,736,402		162,111		(150,160	)		—		20,242		9,113		(273,284	)		(218,083	)		10,104		(839,482	)		5,074,903

(*) This value does not consider non-financial assets and liabilities and the notional values of derivative instruments, which are disclosed at fair value.

	CLP			CLF		FX Indexation		USD			COP		GBP		EUR			CHF			JPY			CNY		Others			TOTAL
As of December 31, 2023	MCh$			MCh$		MCh$		MCh$			MCh$		MCh$		MCh$			MCh$			MCh$			MCh$		MCh$			MCh$
Assets
Financial assets		26,148,436			21,213,688		145,584		5,593,508			—		42,300		176,380			3,988			18,085			16,225		19,698			53,377,892
Non-Financial assets		2,024,900			30,487		13,710		344,211			—		23		1,290			1			—			—		38			2,414,660
Total Assets		28,173,336			21,244,175		159,294		5,937,719			—		42,323		177,670			3,989			18,085			16,225		19,736			55,792,552
Liabilities
Financial liabilities		29,851,084			10,433,590		278		6,018,902			—		9,951		195,818			291,397			226,389			5,716		729,348			47,762,473
Non-Financial liabilities		2,184,491			350,671		721		252,956			—		47		3,811			6			12			5		74			2,792,794
Total Liabilities		32,035,575			10,784,261		999		6,271,858			—		9,998		199,629			291,403			226,401			5,721		729,422			50,555,267
Mismatch of Financial Assets and Liabilities (*)		(3,702,648	)		10,780,098		145,306		(425,394	)		—		32,349		(19,438	)		(287,409	)		(208,304	)		10,509		(709,650	)		5,615,419

(*) This value does not consider non-financial assets and liabilities and the notional values of derivative instruments, which are disclosed at fair value.

162

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report:

(1) Introduction:

Banco de Chile seeks to maintain a risk profile that ensures the sustainable growth that is aligned with its strategic objectives, maximizing value creation and guarantee its long-term solvency. Global risk management takes into consideration the different business segments served by the Bank, being approached from a comprehensive and differentiated perspective.

Our risk management policies are established in order to identify and analyze the risks faced by the Bank, set appropriate risk limits, alerts and controls, monitor risks and compliance with limits and alerts in order to carry out the necessary action plans. Through its administration policies and procedures, the Bank develops a disciplined and constructive control environment. Policies as well as risk management standards, procedures and systems are regularly reviewed.

For this, the Bank has teams with extensive experience and knowledge in each area associated with risks, ensuring comprehensive and consolidated management of the same, including the Bank and its subsidiaries.

(a) Risk Management Structure

Credit, Market and Operational Risk Management are at the all levels of the Organization, with a Corporate Governance structure that recognizes the relevance of the different risk areas that exist.

The Bank’s Board of Directors Board of Directors of Banco de Chile establishes the risk policies, the Risk Appetite Framework, and the guidelines for the development, validation and monitoring of models. Likewise, it approves the provision models, the Additional Provisions Policy and pronounces annually on the sufficient provisions. Also, it ratifies the strategies, policies, functional structure and comprehensive management model of Operational Risk and is in charge of guaranteeing the consistency of this model with the Bank’s strategy, ensuring proper implementation of the model in the organization. Along with this, it establishes the Subsidiary Risk Control Policy, describing the supervision scheme that the Bank applies to the relevant subsidiaries to control the risks that affect them. For its part, the Administration is responsible both for the establishment of standards and associated procedures as well as for the control and compliance with the disposed by the Board of Directors, ensuring that there is consistency between the criteria applied by the Bank and its subsidiaries, maintaining strict coordination at the corporate level and informing the Board of Directors in the defined instances.

The Bank’s Corporate Governance considers the active participation of the Board, acting directly or through different committees made up of Directors and Senior Management. It is permanently informed of the evolution of the different risk areas, participating through its Finance, International and Financial Risk, Credit, Portfolio Risk Committee and Higher Operational Risk Committee, in which the status of credit, market and operational risks are reviewed. These committees are described in the following paragraphs.

Risk Management is developed jointly by the Wholesale Credit Risk Division, the Retail Credit Risk and Global Risk Control Division and the Cybersecurity Division, which constitute the corporate risk governance structure, which by having highly experienced and specialized teams, together with a robust regulatory framework, allow optimal and effective management of the matters they address.

163

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

The Wholesale Credit Risk Division and the Retail Credit Risk and Global Risk Control Division contribute to providing effective governance to the Corporation’s main risks, with a focus on optimizing the risk-return relationship, ensuring business continuity and generating a robust risk culture. They identify potential losses derived from the non-compliance of counterparties, movements in market factors or the lack of adequacy of processes, people or systems, contributing comprehensively to capital management.

Likewise, they continuously manage risk knowledge from a comprehensive approach, in order to contribute to the business and anticipate threats that may damage the solvency and quality of the portfolio, permeating a unique risk culture towards the Corporation, promoting training and permanent education.

Both Divisions are responsible for credit risk in the admission, monitoring and recovery phases for the different business segments. The Wholesale Credit Risk Division has in its structure the Market Risk Management that develops the function of measurement, limitation, control and reporting of said risk along with the definition of valuation standards and management of the Bank’s assets and liabilities.

In turn, in the Retail Credit Risk and Global Risk Control Division, the Admissions Area, among its functions, develops the regulatory framework in matters of credit risk, and the Risk Models Area, which develops the different methodologies related to credit risk. Likewise, in this Division, model monitoring, validation and model risk management are carried out by the respective areas that deal with these matters, ensuring the independence of the function.

This Division also has the Operational Risk and Business Continuity Management, in charge of managing and supervising the application of the policies, rules and procedures in each of these areas within the Bank and Subsidiaries. For these purposes, the Operational Risk Management is in charge of guaranteeing the identification and efficient management of operational risks and promoting a culture in terms of risks to prevent financial losses and improve the quality of the processes, as well as proposing continuous improvements to risk management, aligned with regulatory requirements and business objectives.

With respect to Business Continuity Management, it is responsible for managing, controlling and administering recovery strategies in the event of contingency situations, and is also responsible for maintaining the continuity of services and critical operations related to the Bank’s payment chain. Management has a robust and effective model, which is permanently applied from the continuity program and based on a comprehensive resilient work framework in operational and technological areas, which allows for an effective response to disruptive events that may affect the Bank. Training or tests are a fundamental part of the program, which allow the verification and support of the sufficiency and effectiveness of each of the plans and strategies. Additionally, there is the role and responsibilities of the Information Security Officer (ISO), with an independent function in charge of designing and implementing a monitoring environment for the adequate definition and implementation of the information security strategy and controls and cybersecurity, as well as the independence of the control functions of the Cybersecurity Division.

In both Operational Risk and Business Continuity, its methodologies, controls and scope are applied at the Banco de Chile level and are replicated in the subsidiaries, guaranteeing their homologation to the Bank’s global management model.

164

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

For its part, the Cybersecurity Division is responsible for defining, implementing and reporting the progress of the Strategic Cybersecurity Plan in line with the Bank’s business strategy, one of its main focuses being to protect internal information, that of its customers and collaborators.

This Division is comprises by the Cybersecurity Engineering Management, the Cyber Defense Management, the Strategic Management Deputy Management and the Cyber Intelligence and Advanced Analytics Deputy Management. Also included are the Technological Risk Management and the Cybersecurity and Subsidiaries Management Department, as control units. The responsibilities of the aforementioned Managements and Deputy Managements are described in Section 5 of this Note.

(i) Finance, International and Financial Risk Committee

In general terms, the objectives of this committee are to monitor and continuously review the liquidity status and, trends in the most important financial positions, as well as the their associated results, and and their price and liquidity risks that will be generated. Some of its specific functions include, the review of the proposal to the Board of Directors of the Risk Appetite Framework (RAF), the Financing Plan and the structure of limits and alerts for price and liquidity risks, reviewing and approving the Comprehensive Risk Measurement (CRM) for subsequent due review in the Capital Management Committee and later approval by the Board of Directors, the design of policies and procedures related to the establishment of limits and alerts for price risk and liquidity risk; reviewing the evolution of financial positions and market risks; monitoring limit excesses and alert activations; ensuring adequate identification of risk factors in financial positions; ensuring that the price and liquidity risk management guidelines in the Bank’s subsidiaries are consistent with those of the latter, and that these are reflected in their own policies and procedures.

(ii) Credit Committees

The credit approval process is done mainly through various credit committees, which are composed of qualified professionals and with the sufficient attributions to take decisions required.

Each committee defines the terms and conditions under which the Bank accepts counterparty risks and the Wholesale Credit Risk and Retail Credit Risk Divisions and Global Risk Control participate independently and autonomously of the commercial areas. They are constituted according to the commercial segments and the amounts to approve and have different meeting periodicities.

Within the risk management structure of the Bank, the maximum approval instance is the Credit Committee of Directors. Its functions are to resolve all credit transactions associated with customers and economic groups with approved lines of credit in excess of UF750,000, and to approve all credit transactions where the bank’s internal regulations require approval from this Committee, except for any special powers delegated by the board to management.

165

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(iii) Portfolio Risk Committee

The Portfolio Risk Committee must understand the composition, concentration and risks attached to the bank’s loan portfolio, from a global, sectoral and business unit perspective, review and approve the comprehensive risk measurement (CRM) and the Credit Risk Appetite Framework (RAF) in the area of credit risk; It must review the main debtors, their delinquency, past-due portfolio and impairment indicators, together with the write-offs and loan portfolio provisions for each segment. It must propose differentiated management strategies, as well as analyzing and agreeing on the and analyze credit policy proposals that will be approved by theto be approved by the board of directors. This committee also reviews and ratifies the approvals of management models and methodologies Also, this committee is responsible for reviewing and ratifying the approvals of management models and methodologies previously carried out by the Technical Committee for the Supervision of Internal Models, as well as proposing the regulatory models and methodologies for final approval by the Board of Directors.

(iv) Technical Committee for the Supervision of Internal Models

Among other functions, this committee must ensure compliance with the main guidelines to be used for the construction of models; analyze the adopted criteria and review and approve methodologies associated with non-regulatory models, which must be submitted to the Portfolio Risk Committee for consideration, for final ratification; In the case of regulatory models, this Committee is limited to its review, leaving approval in the hands of the Portfolio Risk Committee and subsequently the Board of Directors. It is also in charge of monitoring the quality of internal models, according to the specific guidelines on this matter, which are also approved by the board of directors.

(v) Model Risk Management Committee

Its main function is to establish and supervise the model risk management framework and the corresponding methodologies at the institutional level. Among other matters, this committee reviews and discusses the identification and evaluation of model risks based on aggregate results, ensures the updating of the institutional inventory of institutional models and methodologies, and submits the Model Risk Management Policy to the Board of Directors for review and approval.

166

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(vi) Senior Operational Risk

The Senior Operational Risk Committee makes any necessary changes to the processes, controls and information systems that support the bank’s transactions, in order to mitigate operational risks, and assure that areas can appropriately manage and control these risks.

This committee has many functions dedicated to supervising appropriate operational risk management at the bank and its subsidiaries, and for implementing the policies, standards and methods associated with the bank’s comprehensive operational risk management model. It plans initiatives to develop it and publishes them throughout the bank. It promotes a culture of operational risk management within the bank and its subsidiaries; review and approve the comprehensive risk measurement regarding Operational Risk. It approves the bank’s operational risk appetite framework; ensure compliance with the current regulatory framework, in matters that are limited to Operational Risk; become aware of the main frauds, incidents, events and their root causes, impacts and corrective measures; ensure the long-term solvency of the organization, avoiding risk factors that may jeopardize the continuity of the Bank. It reviews new products and services, verifies the consistency of associated policies across the bank’s subsidiaries, monitors their compliance, and reviews operational risk management at subsidiaries; become aware of the level of risk to which the bank is exposed in its outsourced services, sanction the selection of the model to carry out stress tests and scenario selection methodologies and evaluate the results, among others.

(vii) Operational Risk Committee

The committee is empowered to trigger the necessary changes in the processes, procedures, controls and information systems that support the operation of Banco de Chile, in order to mitigate its operational risks, ensuring that the different areas properly manage and control these risks.

Among the main functions of the Operational Risk Committee are: regarding the developingment of the comprehensive operational risk management model, ensuring the implementation and/or updating the regulatory framework related to Policies and Statutes, plans and initiatives for the development of the model and its dissemination in the organization; promote a culture of operational risk management at all levels of the Bank; become aware of the results obtained in the comprehensive measurement of operational risk; review the operational risk appetite framework; ensure the current regulatory framework in matters that are limited to operational risk; review the level of exposure to operational risk of the Bank and the main risks to which it is exposed; become aware of the main frauds, incidents, operational events and their root causes, impacts and corrective measures as appropriate, as well as operational risk assessments; propose, agree on and/or prioritize strategies to mitigate the main operational risks; ensure the long-term solvency of the organization; ensure that Operational Risk policies are aligned with the Bank’s objectives and strategies; become aware of the level of risk to which the bank is exposed in its outsourced services, among others.

(viii) Capital Management Committee

The main purpose of this committee is to assess, monitor and review capital adequacy in accordance with the principles in the bank’s capital management policy and its risk framework, to ensure that capital resources are adequately managed, the CMF’s principles are respected, and the bank’s medium-term sustainability.

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47. Risk Management and Report, continued:

(b) Internal Audit

The risk management processes of the entire Bank are permanently audited by the Internal Audit Area, which examines the sufficiency of the procedures and their compliance. Internal Audit discusses the results of all evaluations with the administration and reports its findings and recommendations to the Board of Directors through the Audit Committee.

(c) Measurement Methodology

Regarding to Credit Risk, provision levels and portfolio expenses are the basic measures for determining the credit quality of our portfolio.

Banco de Chile permanently evaluates its loan portfolio, timely recognizing the associated level of risk of the loan portfolio. To this end, there are guidelines for the generation of credit risk models, covering management models (reactive and proactive admission models and collection models), provision models (both under local regulations in accordance with the instructions issued by the CMF, as well as under IFRS criteria) and stress tests that are part of the Bank’s effective equity self-assessment process. The Board of Directors approves these guidelines and the models developed.

For the purposes of covering losses in the event of customers payment default, the Bank determines the level of provisions that must be established based on the following:

- Individual evaluation: mainly applies to the Bank’s portfolio of legal persons that, due to their size, complexity or indebtedness, requires a more detailed level of knowledge and a case-by-case analysis. Each debtor is assigned one of the 16 risk categories defined by the CMF, in order to establish the provisions in a timely and appropriate manner. The review of the portfolio risk classifications is carried out permanently considering the financial situation, payment behavior and the environment of each client.

- Group evaluation: mainly applies to the portfolio of natural persons and smaller companies. These assessments are carried out monthly through statistical models that allow estimating the level of provisions necessary to cover the portfolio risk; in the case of commercial and mortgage portfolios, these results are contrasted with the standard models provided by the regulator, with the resulting provision being the largest between both methods. The consistency analysis of the models is carried out through an independent validation of the unit that develops them and, subsequently, through the analysis of retrospective tests that allow to compare the real losses with the expected ones. The CMF recently issued the regulations that establish the Standardized Methodology for computing Provisions for Consumer Loans, whose provisions will come into force as of the accounting close of January 2025.

In order to validate the quality and robustness of the risk assessment processes, the Bank annually performs a test of the sufficiency of provisions for the total loan portfolio, thus verifying that the provisions established are sufficient to cover the losses that could derive from the credit operations granted. The result of this analysis is presented to the Board of Directors, who manifests itself on the sufficiency of the provisions in each fiscal year.

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47. Risk Management and Report, continued:

Banco de Chile establishes additional provisions with the objective of protecting itself from the risk of unpredictable economic fluctuations that may affect the macroeconomic environment or the situation of a specific economic sector. At least once a year, the amount of additional provisions to be constituted or released is annually proposed to the Portfolio Risk Committee and subsequently to the Board of Directors for approval.

During the first quarter 2024, the Bank maintainskept without modifications the amount of additional provisions established.

The monitoring and control of risks are carried out mainly based on limits established by the Board of Directors. These limits reflect the Bank’s business and market strategy, as well as the level of risk that it is willing to accept, with additional emphasis on the selected industries.

The Bank develops its capital planning process in an integrated manner with its strategic planning, in line with the risks inherent to its activity, the economic and competitive environment, its business strategy, corporate values, as well as its governance, management and risk control. As part of the capital planning process and, in line with what is required by the regulator, Risk-Weighted Assets and stress tests are obtained in the dimensions of credit, market and operational risk, as well as the Comprehensive Measurement of financial and non-financial risks.

The Bank annually reviews and updates its Risk Appetite Framework, approved by the Board of Directors, through which it is possible to identify, evaluate, measure, mitigate and control proactively and in advance all relevant risks that could materialize in the normal course of their business. To this end, the Bank uses different management tools and defines an adequate structure of alerts and limits, which are part of said Framework, which allow it to constantly monitor the performance of different indicators and implement timely corrective actions, in the event that are required. The result of these activities is part of the annual self-assessment report of effective equity approved by the Board of Directors and reported to the CMF.

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47. Risk Management and Report, continued:

(2) Credit Risk:

Credit risk considers the likelihood that the counterparty in the credit operation will not be able to fulfill its contractual obligation due to incapacity or financial insolvency, and this leads to a potential credit loss.

The Bank seeks an adequate risk-return relation and an appropriate balance of the risks assumed, through a permanent credit risk management considering the processes of admission, monitoring and recovery of the loans granted. Establishes the risk management framework for the different business segments it serves, responding to regulatory demands and commercial dynamism, being part of the digital transformation and contributing from a risk perspective to the various businesses addressed, through a vision of the portfolio that allows managing, resolving and controlling the business approval and monitoring process in an efficient and proactive manner.

In the business segments, the application of additional management processes is taken into consideration, to the extent required, for those financing requests that that will have a greater exposure to environmental and/or social risks.

The Bank integrates the socio-environmental criteria in its evaluations for the granting of financing destined to the development of projects, whether national or regional and that can generate an impact of this type, where they are executed. For the financing of projects, they must have the corresponding permits, authorizations, patents and studies, according to the impact they generate. In addition, the Bank has specialized units for serving large clients, through which the financing of project development is concentrated, including those of Public Works concessions that contemplate the construction of infrastructure, mining, electrical, real estate developments that can generate an environmental impact.

In matters of risks related to climate change, during 2023 and the first quarter 2024, progress has been made in the methodologies used to identify risks related to the climate factor in the portfolio. This includes conducting various specialized training on ESG risk matters to executives from different divisions, including risk executives, strengthening the Bank’s ability to proactively address these emerging challenges.

Credit policies and processes materialize in the following management principles, which are addressed with a specialized approach according to the characteristics of the different markets and segments served, recognizing the singularities of each one of them:

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47. Risk Management and Report, continued:

1. Apply a rigorous evaluation in the admission process, based on established credit policies, standards and procedures, together with the availability of sufficient and accurate information. Thus, it corresponds to analyze the generation of flows and solvency of the client to meet their payment commitments and, when the characteristics of the operation merit it, must constitute adequate collateral that allow mitigating the risk incurred with the client.

2. Have permanent and robust portfolio tracking processes, through procedures and systems that alert both the potential signs of impairment of clients, with respect to the conditions of origin, and also the possible business opportunities with those that present a better payments quality and behavior.

3. To develop credit risk modeling guidelines, in regulatory aspects and management, for efficient decision-making at different stages of the credit process.

4. Have a collection structure with timely, agile and effective processes that allow management to be carried out in accordance with the different types of clients and the types of breaches that arise, always in strict adherence to the regulatory framework and the Bank’s reputational definitions.

5. Maintain an efficient administration in work teams organization, tools and availability of information that allow an optimal credit risk management.

Based on these management principles, the credit risk divisions contribute to the business and anticipate threats that may affect the solvency and quality of the portfolio. In particular, during the last three years the solidity of these principles and the role of credit risk have made it possible to respond adequately to the challenges derived from the pandemic, providing timely responses to clients while maintaining the solid fundamentals that characterize the Bank’s portfolio in its different segments and products.

Within the framework of risk management, a permanent and focused monitoring of the behavior of the portfolios has continued, including the evolution of the credits associated with the FOGAPE Covid, FOGAPE Reactivation programs and recently FOGAPE Chile Apoya and FOGAES.

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47. Risk Management and Report, continued:

(a) Retail Segments:

In these segments, admission management is carried out mainly through a risk evaluation that uses scoring tools and an adequate credit attribution model to approve each operation. These evaluations take into consideration the level of indebtedness, payment capacity and the maximum acceptable exposure for the client.

For these segments, the Bank’s risk functions are segregated and distributed in the following areas:

− Retail Admission and Regulatory, performs the evaluation of operations and clients, with specialization by products and segments. Maintains a framework of policies and standards that ensure the quality of the portfolio according to the desired risk, defining guidelines for the admission of clients and their respective parameterization in the evaluation systems. These definitions are released to commercial and risk areas through programs and continuous training, and their application is monitored through credit review processes.

− Risk Model, is responsible for developing, maintaining and updating credit risk models, whether for regulatory or management uses, in accordance with local and international regulations, determining the most appropriate functional specifications and statistical techniques for the development of the required models. These models are validated by the Model Risk and Internal Control Management and presented to the corresponding government bodies, such as the Technical Committee for the Supervision and Development of Internal Models, the Portfolio Risk Committee or the Board of Directors, as appropriate.

− Model Risk and Internal Control, its purpose is to manage the risks associated with models and their processes, for which it relies on the functions of model validation, model risk management and internal control.

Model validation is responsible for carrying out an independent review of risk models, including risk-weighted assets and stress tests, both in the construction and implementation stages of these models. It considers the validation of compliance with the guidelines established by the Board of Directors, addressing aspects such as governance, data quality, modeling techniques, implementation, methodological and parametric analysis, and documentation. The results of the review are presented and placed in consideration of the respective Committees, as appropriate.

Model risk management is responsible for monitoring and ensuring compliance with the activities associated with the state in which the models are according to their life cycle, in a way that facilitates the detection of potential increases in risk in sources of model risk from the bank.

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47. Risk Management and Report, continued:

For its part, the internal control function ensures the maintenance of a control model aligned with performance, financial and operational objectives, and the protection of its assets against possible losses. The foregoing has the consequence of ensuring the reliability and transparency of the financial and non-financial information generated by the Bank. For this, a periodic evaluation process is carried out, based on the risks that could have a material impact and which is carried out through the evaluation of the design and operational effectiveness of the identified controls and thus be able to comply with the operating, information and compliance objectives.

− Retail Tracking and Models, is in charge of measuring the behavior of portfolios especially through the monitoring of the main indicators of the aggregate portfolio and the analysis of layers, reported in management reports, generating relevant information for decision-making in different instances defined. Also, special follow-ups are generated according to relevant events in the environment. This Area ensures that the different strategies executed meet the risk quality objectives that determined their implementation.

For its part, through the risk model monitoring function, they are monitored, ensuring compliance with the standards defined to ensure their predictive and discriminating power.

Additionally, this Area is responsible for managing the process for calculating provisions for credit risk, ensuring the correct execution of the processes and analysis of the results obtained.

− Collection performs a cross-collection management in the Bank and defines refinancing criteria through the establishment of predefined renegotiation guidelines to solve the indebtedness of viable customers and with payment intentions, maintaining an adequate risk-return ratio, together with the incorporation of robust tools for a differentiated collection management according to the institutional policies and with strict adherence to the current regulatory framework.

In this sense, the Bank has specific regulations related to the collection and normalization of clients, which makes it possible to ensure the quality of the portfolio in accordance with credit policies and the desired risk appetite framework. Through collection management, the attention of clients with temporary flow problems is favored, debt normalization plans are proposed to viable clients, in such a way that it is possible to maintain the relationship in the long term once their situation is regularized, the recovery of assets at risk is maximized and the necessary collection actions are carried out, in a timely manner, to ensure the recovery of debts or reduce potential loss.

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47. Risk Management and Report, continued:

(b) Wholesale Segments:

In these segments, admission management is carried out through an individual evaluation of the client and the relationship of the rest of the group with the Bank is also considered if it belongs to a group of companies. This individual evaluation - and group if applicable - considers, among others, generation capacity, financial situation with emphasis on equity solvency, exposure levels, industry variables, evaluation of partners and management, and aspects of the operation such as financing structure, term, products and possible collaterals.

The indicated evaluation is supported by a rating model that allows greater homogeneity in the evaluation of the client and his group. This evaluation also includes specialized areas in some segments that by their nature require expert knowledge, such as real estate, construction, agriculture, financial, international, among others.

In a centralized manner, a permanent monitoring of the portfolio is carried at the individual level off business segments and economic sectors, based on periodically updated information from both the client and the industry, through the use of robust management tools. Through this process, alerts are generated that ensure the correct and timely recognition of the risk of the individual portfolio and the special conditions established in the admission stage are monitored, such as controls of financial covenants, coverage of certain collaterals and conditions imposed at the time of approval.

Additionally, within the Admission areas, joint monitoring tasks are carried out that allow monitoring the development of operations from their gestation to their recovery, with the aim of ensuring the correct and timely identification of portfolio risks, and to manage in advance those cases with higher risk levels.

Upon detection of clients that show signs of impairment or default with any condition, the commercial area to which the client belongs, together with the Wholesale Credit Risk Division, establish action plans for their regularization. In those more complex cases where specialized management is required, the Special Assets Management area, belonging to the Wholesale Credit Risk Division, is directly in charge of collection management, establishing action plans and negotiations based on the particular characteristics of each client.

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47. Risk Management and Report, continued:

(c) Portfolio Concentration:

The maximum exposure to credit risk, by client or counterparty, without taking into account guarantees or other credit enhancements as of March 31, 2024 and December 31, 2023, does not exceed 10% of the Bank’s effective equity.

The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of March 31, 2024:

	Chile		United States		England		Brazil		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets
Cash and Due from Banks		2,020,610		1,088,923		35,450		10		103,508		3,248,501
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial
Forwards (*)		231,186		29,259		60,463		—		33,420		354,328
Swaps (**)		915,996		155,216		898,731		—		193,849		2,163,792
Call Options		4,943		698		2,023		—		771		8,435
Put Options		124		—		64		—		—		188
Futures		—		—		—		—		—		—
Subtotal		1,152,249		185,173		961,281		—		228,040		2,526,743
Debt Financial Instruments
From the Chilean Government and Central Bank		1,625,895		—		—		—		—		1,625,895
Other debt financial instruments issued in Chile		245,080		—		—		—		—		245,080
Financial debt instruments issued Abroad		—		—		—		—		—		—
Subtotal		1,870,975		—		—		—		—		1,870,975
Others Financial Instruments
Investments in mutual funds		275,251		—		—		—		—		275,251
Equity instruments		1,311		384		—		—		—		1,695
Others		2,441		1,339		—		—		136		3,916
Subtotal		279,003		1,723		—		—		136		280,862
Financial Assets at fair value through other comprehensive income:
Debt Financial Instruments
From the Chilean Government and Central Bank		1,330,164		—		—		—		—		1,330,164
Other debt financial instruments issued in Chile		1,632,042		—		—		—		—		1,632,042
Financial debt instruments issued Abroad		—		234,160		—		—		—		234,160
Subtotal		2,962,206		234,160		—		—		—		3,196,366
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—
Swaps		4,922		27,631		67,024		—		27,605		127,182
Call Options		—		—		—		—		—		—
Put Options		—		—		—		—		—		—
Futures		—		—		—		—		—		—
Subtotal		4,922		27,631		67,024		—		27,605		127,182
Financial assets at amortized cost
Rights from resale agreements and securities lending		56,530		—		—		—		—		56,530
Debt Financial Instruments
From the Chilean Government and Central Bank		4,071,729		—		—		—		—		4,071,729
Subtotal		4,071,729		—		—		—		—		4,071,729
Loans and advances to Banks
Central Bank of Chile		800,467		—		—		—		—		800,467
Domestic banks		—		—		—		—		—		—
Foreign Banks (***)		—		—		—		264,491		152,625		417,116
Subtotal		800,467		—		—		264,491		152,625		1,217,583
Loans to Customers, Net
Commercial loans		20,234,867		—		—		—		23,310		20,258,177
Residential mortgage loans		12,489,637		—		—		—		—		12,489,637
Consumer loans		5,341,352		—		—		—		—		5,341,352
Subtotal		38,065,856		—		—		—		23,310		38,089,166

(*) Others includes: France Ch$22,648 million and Spain Ch$9,161 million.

(**) Others includes: France Ch$44,831 million and Spain Ch$35,357 million and Canada Ch$113,661 million.

(***) Others includes: China Ch$58,721 million and Qatar Ch$78,577 million.

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47. Risk Management and Report, continued:

	Central Bank of Chile		Government		Retail (Individuals)		Financial Services		Trade		Manufacturing		Mining		Electricity, Gas  and Water		Agriculture and Livestock		Fishing		Transportation and Telecom		Construction		Services		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Cash and Due from Banks		1,150,682		—		—		2,097,819		—		—		—		—		—		—		—		—		—		—		3,248,501
Financial Assets held for trading at fair value through profit or loss:
Derivative contracts Financial
Forwards		—		—		—		303,930		4,488		15,270		418		15,194		9,518		331		3,730		50		1,399		—		354,328
Swaps		—		—		—		2,043,192		787		17,984		570		17,717		26,803		5,523		38,945		8,383		3,888		—		2,163,792
Call Options		—		—		—		3,978		988		1,399		—		—		1,868		97		24		—		81		—		8,435
Put Options		—		—		—		82		26		53		—		—		27		—		—		—		—		—		188
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		2,351,182		6,289		34,706		988		32,911		38,216		5,951		42,699		8,433		5,368		—		2,526,743
Debt Financial Instruments
From the Chilean Government and Central Bank		1,449,054		176,841		—		—		—		—		—		—		—		—		—		—		—		—		1,625,895
Other debt financial instruments issued in Chile		—		—		—		245,080		—		—		—		—		—		—		—		—		—		—		245,080
Financial debt instruments issued Abroad		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		1,449,054		176,841		—		245,080		—		—		—		—		—		—		—		—		—		—		1,870,975
Others Financial Instruments
Investments in mutual funds		—		—		—		275,251		—		—		—		—		—		—		—		—		—		—		275,251
Equity instruments		—		—		—		1,695		—		—		—		—		—		—		—		—		—		—		1,695
Others		—		—		—		3,916		—		—		—		—		—		—		—		—		—		—		3,916
Subtotal		—		—		—		280,862		—		—		—		—		—		—		—		—		—		—		280,862
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments
From the Chilean Government and Central Bank		118,269		1,211,895		—		—		—		—		—		—		—		—		—		—		—		—		1,330,164
Other debt financial instruments issued in Chile		—		—		—		1,607,134		—		—		—		12,576		7,398		—		4,934		—		—		—		1,632,042
Financial debt instruments issued Abroad		—		—		—		234,160		—		—		—		—		—		—		—		—		—		—		234,160
Subtotal		118,269		1,211,895		—		1,841,294		—		—		—		12,576		7,398		—		4,934		—		—		—		3,196,366
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Swaps		—		—		—		127,182		—		—		—		—		—		—		—		—		—		—		127,182
Call Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		127,182		—		—		—		—		—		—		—		—		—		—		127,182
Financial assets at amortized cost (*)
Rights from resale agreements		—		—		—		55,247		—		—		—		—		—		—		—		—		626		657		56,530
Debt financial instruments
From the Chilean Government and Central Bank		3,148,357		923,372		—		—		—		—		—		—		—		—		—		—		—		—		4,071,729
Subtotal		3,148,357		923,372		—		—		—		—		—		—		—		—		—		—		—		—		4,071,729
Loans and advances to Banks
Central Bank of Chile		800,467		—		—		—		—		—		—		—		—		—		—		—		—		—		800,467
Domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Foreign banks		—		—		—		417,116		—		—		—		—		—		—		—		—		—		—		417,116
Subtotal		800,467		—		—		417,116		—		—		—		—		—		—		—		—		—		—		1,217,583

(*) Economic activity of Loans and accounts receivable from customers disclosed in Note No. 13 g).

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47. Risk Management and Report, continued:

The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of December 31, 2023:

	Chile		United States		England		Brazil		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Financial Assets
Cash and Due from Banks		1,536,512		811,198		27,492		9		89,437		2,464,648
Financial assets held for trading at fair value through profit or loss:
Derivative contracts financial
Forwards (*)		129,596		13,712		27,450		—		41,717		212,475
Swaps (**)		739,444		59,478		856,718		—		162,515		1,818,155
Call Options		1,939		248		955		—		293		3,435
Put Options		542		70		654		—		45		1,311
Futures		—		—		—		—		—		—
Subtotal		871,521		73,508		885,777		—		204,570		2,035,376
Debt Financial Instruments
From the Chilean Government and Central Bank		3,027,313		—		—		—		—		3,027,313
Other debt financial instruments issued in Chile		336,311		—		—		—		—		336,311
Financial debt instruments issued Abroad		—		—		—		—		—		—
Subtotal		3,363,624		—		—		—		—		3,363,624
Others Financial Instruments
Investments in mutual funds		405,752		—		—		—		—		405,752
Equity instruments		2,058		485		—		—		—		2,543
Others		844		145		—		—		44		1,033
Subtotal		408,654		630		—		—		44		409,328
Financial Assets at fair value through other comprehensive income:
Debt Financial Instruments
From the Chilean Government and Central Bank		1,837,652		—		—		—		—		1,837,652
Other debt financial instruments issued in Chile		1,741,665		—		—		—		—		1,741,665
Financial debt instruments issued Abroad		—		207,208		—		—		—		207,208
Subtotal		3,579,317		207,208		—		—		—		3,786,525
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—
Swaps		—		11,975		18,712		—		18,378		49,065
Call Options		—		—		—		—		—		—
Put Options		—		—		—		—		—		—
Futures		—		—		—		—		—		—
Subtotal		—		11,975		18,712		-		18,378		49,065
Financial assets at amortized cost:
Rights from resale agreements and securities lending		71,822		—		—		—		—		71,822
Debt Financial Instruments
From the Chilean Government and Central Bank		1,431,141		—		—		—		—		1,431,141
Subtotal		1,431,141		—		—		—		—		1,431,141
Loans and advances to Banks
Central Bank of Chile		2,100,933		—		—		—		—		2,100,933
Domestic banks		—		—		—		—		—		—
Foreign Banks (***)		—		—		436		205,362		213,200		418,998
Subtotal		2,100,933		—		436		205,362		213,200		2,519,931
Loans to Customers, Net
Commercial loans		19,969,857		—		—		—		21,257		19,991,114
Residential mortgage loans		12,303,154		—		—		—		—		12,303,154
Consumer loans		5,306,436		—		—		—		—		5,306,436
Subtotal		37,579,447		—		—		—		21,257		37,600,704

(*) Others includes: France Ch$33,034 million and Spain Ch$7 million.

(**) Others includes: France Ch$38,199 million and Spain Ch$31,881 million.

(***) Others includes: China Ch$109,229 million.

177

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

	Central Bank of Chile		Government		Retail (Individuals)		Financial Services		Trade		Manufacturing		Mining		Electricity, Gas  and Water		Agriculture and Livestock		Fishing		Transportation and Telecom		Construction		Services		Others		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Cash and Due from Banks		590,426		—		—		1,874,222		—		—		—		—		—		—		—		—		—		—		2,464,648
Financial Assets held for trading at fair value through profit or loss:
Derivative contracts financial
Forwards		—		—		—		124,644		15,853		6,396		132		1,834		3,529		3		1,074		1,589		57,421		—		212,475
Swaps		—		—		243		1,739,380		2,610		10,797		—		15,664		3,848		2,609		24,116		14,914		3,974		—		1,818,155
Call Options		—		—		—		1,899		422		252		—		—		834		—		—		—		28		—		3,435
Put Options		—		—		—		809		277		212		—		—		—		—		—		—		13		—		1,311
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		243		1,866,732		19,162		17,657		132		17,498		8,211		2,612		25,190		16,503		61,436		—		2,035,376
Debt Financial Instruments
From the Chilean Government and Central Bank		2,799,442		227,871		—		—		—		—		—		—		—		—		—		—		—		—		3,027,313
Other debt financial instruments issued in Chile		—		—		—		336,311		—		—		—		—		—		—		—		—		—		—		336,311
Financial debt instruments issued Abroad		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		2,799,442		227,871		—		336,311		—		—		—		—		—		—		—		—		—		—		3,363,624
Others Financial Instruments
Investments in mutual funds		—		—		—		405,752		—		—		—		—		—		—		—		—		—		—		405,752
Equity instruments		—		—		—		2,543		—		—		—		—		—		—		—		—		—		—		2,543
Others		—		—		—		1,033		—		—		—		—		—		—		—		—		—		—		1,033
Subtotal		—		—		—		409,328		—		—		—		—		—		—		—		—		—		—		409,328
Financial Assets at fair value through Other Comprehensive Income
Debt Financial Instruments
From the Chilean Government and Central Bank		473,642		1,364,010		—		—		—		—		—		—		—		—		—		—		—		—		1,837,652
Other debt financial instruments issued in Chile		—		—		—		1,457,305		17,791		—		—		12,507		7,277		—		4,837		—		—		241,948		1,741,665
Financial debt instruments issued Abroad		—		—		—		207,208		—		—		—		—		—		—		—		—		—		—		207,208
Subtotal		473,642		1,364,010		—		1,664,513		17,791		—		—		12,507		7,277		—		4,837		—		—		241,948		3,786,525
Derivative contracts financial for hedging purposes
Forwards		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Swaps		—		—		—		49,065		—		—		—		—		—		—		—		—		—		—		49,065
Call Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Put Options		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Futures		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		49,065		—		—		—		—		—		—		—		—		—		—		49,065
Financial assets at amortized cost (*)
Rights from resale agreements		—		—		—		70,392		—		—		—		—		—		—		—		—		1,070		360		71,822
Debt financial instruments
From the Chilean Government and Central Bank		507,261		923,880		—		—		—		—		—		—		—		—		—		—		—		—		1,431,141
Subtotal		507,261		923,880		—		—		—		—		—		—		—		—		—		—		—		—		1,431,141
Loans and advances to Banks
Central Bank of Chile		2,100,933		—		—		—		—		—		—		—		—		—		—		—		—		—		2,100,933
Domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Foreign banks		—		—		—		418,998		—		—		—		—		—		—		—		—		—		—		418,998
Subtotal		2,100,933		—		—		418,998		—		—		—		—		—		—		—		—		—		—		2,519,931

(*) Economic activity of Loans and accounts receivable from customers disclosed in Note No. 13 g).

178

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(d) Collaterals and Other Credit Enhancements:

The amount and type of collateral required depends on the counterparty’s credit risk assessment.

The Bank has guidelines regarding the acceptability of types of collateral and valuation parameters.

The main types of collateral obtained are:

● For commercial loans: Residential and non-residential real estate, liens and inventory.

● For retail loans: Mortgages loans on residential property.

The Bank also obtains collateral from parent companies for loans granted to their subsidiaries.

Management makes sure its collateral is acceptable according to both external standards and internal policies guidelines and parameters. The Bank has approximately 246,263 collateral assets as of March 31, 2024 (246,063 in December 2023), the majority of which consist of real estate. The following table contains guarantees value:

			Guarantee
March  2024	Loans		Mortgages		Pledges		Securities		Warrants		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Corporate Lending		15,478,866		3,990,591		145,968		583,017		1,553		4,721,129
Small Business Lending		4,779,311		3,352,583		16,930		9,158		—		3,378,671
Consumer Lending		5,341,352		367,383		528		2,266		—		370,177
Mortgage Lending		12,489,637		11,918,587		435		—		—		11,919,022
Total		38,089,166		19,629,144		163,861		594,441		1,553		20,388,999

			Guarantee
December 2023	Loans		Mortgages		Pledges		Securities		Warrants		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Corporate Lending		15,149,334		4,157,394		204,423		610,957		3,503		4,976,277
Small Business Lending		4,841,780		3,330,145		16,097		10,464		—		3,356,706
Consumer Lending		5,306,436		363,923		607		2,633		—		367,163
Mortgage Lending		12,303,154		11,743,317		114		—		—		11,743,431
Total		37,600,704		19,594,779		221,241		624,054		3,503		20,443,577

The Bank also uses mitigating tactics for credit risk on derivative transactions. To date, the following mitigating tactics are used:

● Accelerating transactions and net payment using market values at the date of default of one of the parties.

● Option for both parties to terminate early any transactions with a counterparty at a given date, using market values as of the respective date.

Margins established with time deposits by customers who have FX forwards with subsidiary Banchile Corredores de Bolsa S.A.

179

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(d) Collaterals and Other Credit Enhancements, continued:

The value of the guarantees that the Bank maintains related to the loans individually classified as impaired as of March 31, 2024 and December 31, 2023 amounted Ch$136,791 million and Ch$140,371 million, respectively.

The value guarantees related to past due loans but no impaired as of March 31, 2024 and December 31, 2023 amounted Ch$518,910 million and Ch$459,858 million respectively.

(e) Credit Quality by Asset Class:

The Bank determines the credit quality of financial assets using internal credit ratings. The rating process is linked to the Bank’s approval and monitoring processes and is carried out in accordance with risk categories established by current standards. Credit quality is continuously updated based on any favorable or unfavorable developments to customers or their environments, considering aspects such as commercial and payment behavior as well as financial information.

The Bank also carries out reviews focused on companies that participate in specific economic sectors, which are affected either by macroeconomic variables or variables of the sector. In this way, it is possible to timely establish the necessary and sufficient level of provisions to cover the losses due to the eventual non-recoverability of the credits granted.

The credit quality by asset class for Consolidated Statements of Financial Position sheet items, based on the Bank’s credit rating system, is presented in Note No. 13 letter (d).

Below is the detail of the default but not impaired portfolio:

	Past due but no impaired (*)
	1 to 29 days		30 to 59 days		60 to 89 days		90 or more days
	MCh$		MCh$		MCh$		MCh$
March 2024		849,135		229,518		69,848		—
December 2023		729,515		201,364		65,003		—

(*) These amounts include the overdue portion and the remaining balance of loans in default.

(f) Assets Received in Lieu of Payment:

The Bank has received assets in lieu of payment totaling Ch$24,317 million and Ch$21,396 million as of March 31, 2024 and December 31, 2023, respectively, the majority of which are properties. All of these assets are managed for sale.

180

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(g) Renegotiated Assets:

The loans are presented as renegotiated in the balance sheet correspond to those in which the corresponding financial commitments have been restructured and the Bank assesses the probability of recovery as sufficiently high.

The following table details the book value of loans with renegotiated terms per financial asset class:

	March		December
	2024		2023
	MCh$		MCh$
Financial Assets
Loans and advances to banks
Central Bank of Chile		—		—
Domestic banks		—		—
Foreign banks		—		—
Subtotal		—		—
Loans to customers, net
Commercial loans		456,575		445,462
Residential mortgage loans		330,719		266,920
Consumer loans		274,930		306,632
Subtotal		1,062,224		1,019,014
Total renegotiated financial assets		1,062,224		1,019,014

(h) Compliance with credit limit granted to related debtors:

Below are detailed the figures for compliance with the credit limit granted to debtors related to the ownership or management of the Bank and subsidiaries, in accordance with the Article 84 No. 2 of the General Banking Law, which establishes that in no case the total of these credits may exceed the amount of its Total or Regulatory Capital:

	March 2024			December 2023
	MCh$			MCh$
Total related debt		495,896			476,459
Consolidated Total or Regulatory Capital		6,535,384			6,578,584
Limit used %		7.59	%		7.24	%

181

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk:

Market Risk refers to the loss that the Bank could face due to a liquidity shortage to honor the payments, or to close financial transactions in a timely manner (Liquidity Risk), or due to adverse movements in the values of market variables (Risk Price). For its correct management, the guidelines of the Liquidity Risk Management Policy and the Market Risk Management Policy are considered, both are subject to review, at least annually, by the Market Risk Manager and approval by the Bank’s Board of Directors, at least annually.

Liquidity Risk:

Liquidity Risk Measurement and Limits

The Bank manages the Liquidity Risk in accordance with the established on the Liquidity Risk Management Policy, managing separately for each sub-category thereof; this is for Trading Liquidity Risk and Funding Liquidity Risk.

Trading Liquidity Risk is the inability to close, at current market prices, the financial positions opened mainly from the Trading Book (which is daily valued at market prices and the value differences instantly reflected in the Income Statement). This risk is controlled by establishing limits on the positions amounts of the Trading Book in accordance with what is estimated to be closed in a short time period. Additionally, the Bank incorporates a negative impact on the Income Statement whenever it considers that the size of a certain position in the Trading Book exceeds the reasonable amount, negotiated in the secondary markets, which would allow the exposure to be offset without altering market prices.

Funding Liquidity Risk refers to the Bank’s inability to obtain sufficient cash to meet its immediate obligations. This risk is managed by a minimum amount of highly liquid assets called liquidity buffer, and establishing limits and controls of internal metrics, among which the Market Access Report (“MAR”) stands out, which estimates the amount of funding that the Bank would need from wholesale financial counterparties, for the next 30 and 90 days in each of the relevant currencies of the balance sheet, to face a cash need as a result of the operation under business as usual conditions.

182

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

The use of March within 2024 is illustrated below (LCCY = local currency; FCCY = foreign currency):

	MAR LCCY + FCCY BCh$				MAR FCCY MUS$
	1 - 30 days		1 - 90 days			1 - 30 days
Maximum		1,553		4,286	Maximum		587
Minimum		567		3,358	Minimum		-358
Average		1,099		3,773	Average		183

The Bank also monitors the amount of assets denominated in local currency that is funded by liabilities denominated in foreign currency, including all tenors and the cash flows generated by full delivery derivatives payments. This metric is referred to as Cross Currency Funding. The bank oversees and limits this amount in order to take precautions against not only Banco de Chile’s event but also against a systemic adverse environment generated by a country risk event that might trigger lack of foreign currency funding.

The use of Cross Currency Funding within the year 2024 is illustrated below:

	Cross Currency Funding MUS$
Maximum		1,116
Minimum		112
Average		524

The Bank establishes thresholds that alert behaviors outside the expected ranges at a normal or prudent level of operation, in order to protect other dimensions of liquidity risk such as, for example, maturities concentration of fund providers, the diversification of sources of funds either by type of counterparty or type of product, among others.

The evolution over time of the statement of financial ratios of the Bank is monitored in order to detect structural changes in the characteristics of the balance sheet, such as those presented in the following table and whose relevant values of use during the year 2024 are shown below:

	Liquid Assets/ Net Funding <30 days			Liabilities>1 year/ Assets >1 year			Deposits/ Loans
Maximum		160	%		91	%		65	%
Minimum		150	%		90	%		64	%
Average		155	%		90	%		65	%

183

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

Additionally, some market index, prices and monetary decisions taken by the Central Bank of Chile are monitored to detect structural changes in market conditions that can trigger a liquidity shortage or even a financial crisis.

Furthermore, the Liquidity Risk Management Policy enforces to perform stress tests periodically which are controlled against potentially accessible action plans in each modeled scenario, according with the guidelines established in the Liquidity Contingency Plan. This process is essential in determining the liquidity risk appetite framework of the institution.

The Bank measures and controls the mismatch of cash flows under regulatory standards with the C46 index report, which represents the net cash flows expected over time as a result of the contractual maturity of almost all assets and liabilities. Additionally, the Commission for the Financial Market (hereinafter, “CMF”) authorized Banco de Chile, among others, to report the adjusted C46 index. This allows the Bank to report, in addition to the regular C46 index, outflow behavior assumptions of certain specific elements of the liability, such as demand deposits and time deposits. In addition, the regulator also requires some rollover assumptions for the loan portfolio.

To date, the CMF establish the following dispositions for the C46 index:

Foreign Currency balance sheet items: 1-30 days, Regulatory Limit C46 index < 1 x Tier-1 Capital

The levels of use of this index during the year 2024 is illustrated below:

	Adjusted C46 CCY and FCCY as part of Basic Capital						Adjusted C46 FCCY as part of Basic Capital
	1 - 30 days			1 - 90 days			1 - 30 days
Maximum		0.08			(0.09	)		0.17
Minimum		(0.03	)		(0.15	)		0.09
Average		0.02			(0.11	)		0.12
Regulatory Limit		N/A			N/A			1.0

184

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

The individual and consolidated term liquidity gap are presented below:

QUARTERLY STATEMENT OF INDIVIDUAL LIQUIDITY SITUATION
AS OF MARCH 31, 2024 CONTRACTUAL BASIS
Values in MCh$
CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		10,981,210		13,938,167		15,376,575		19,124,717
Cash flow payable (liabilities) and expenses		21,672,125		24,515,737		28,550,004		32,497,526
Liquidity Gap		10,690,915		10,577,570		13,173,429		13,372,809

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		1,774,248		2,187,850		2,288,849		2,955,503
Cash flow payable (liabilities) and expenses		2,771,185		3,090,898		3,752,354		4,293,553
Liquidity Gap		996,937		903,048		1,463,505		1,338,050
Limits:
One time capital						5,121,154
AVAILABLE MARGIN						3,657,649

* In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,657,649,630,621.

QUARTERLY STATEMENT OF INDIVIDUAL LIQUIDITY SITUATION
AS OF MARCH 31, 2024 ADJUSTED BASIS
Values in MCh$
CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days			From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		10,738,803		13,365,384			14,292,552		16,704,555
Cash flow payable (liabilities) and expenses		11,772,482		12,773,787			14,418,942		16,395,424
Liquidity Gap		1,033,679		(591,597	)		126,390		(309,131	)

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days			From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		1,694,140		1,993,609			1,895,852		2,108,815
Cash flow payable (liabilities) and expenses		1,758,759		1,950,572			2,477,307		2,900,673
Liquidity Gap		64,619		(43,037	)		581,455		791,858
Limits:
One time capital							5,121,154
AVAILABLE MARGIN							4,539,699

* In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$4,539,698,810,540.

185

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

QUARTERLY STATEMENT OF CONSOLIDATED LIQUIDITY SITUATION
AS OF MARCH 31, 2024 CONTRACTUAL BASIS
Values in MCh$
CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		11,750,457		14,717,750		16,171,254		19,923,926
Cash flow payable (liabilities) and expenses		22,297,949		25,141,560		29,175,827		33,123,413
Liquidity Gap		10,547,492		10,423,810		13,004,573		13,199,487

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days		From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		1,774,310		2,187,913		2,288,912		2,955,566
Cash flow payable (liabilities) and expenses		2,771,185		3,090,898		3,752,354		4,293,616
Liquidity Gap		996,875		902,985		1,463,442		1,338,050
Limits:
One time capital						5,121,154
AVAILABLE MARGIN						3,657,712

* In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$3,657,712,092,415.

QUARTERLY STATEMENT OF CONSOLIDATED LIQUIDITY SITUATION
AS OF MARCH 31, 2024 ADJUSTED BASIS
Values in MCh$
CONSOLIDATED CURRENCY	From 0 to 7 days		From 0 to 15 days			From 0 to 30 days			From 0 to 90 days
Cash flow receivable (assets) and income		11,508,050		14,144,967			15,087,230			17,503,764
Cash flow payable (liabilities) and expenses		12,398,305		13,399,611			15,044,765			17,021,311
Liquidity Gap		890,255		(745,356	)		(42,465	)		(482,453	)

FOREIGN CURRENCY	From 0 to 7 days		From 0 to 15 days			From 0 to 30 days		From 0 to 90 days
Cash flow receivable (assets) and income		1,694,203		1,993,672			1,895,914		2,108,878
Cash flow payable (liabilities) and expenses		1,758,759		1,950,572			2,477,307		2,900,736
Liquidity Gap		64,556		(43,100	)		581,393		791,858
Limits:
One time capital							5,121,154
AVAILABLE MARGIN							4,539,761

* In the limit up to 30 days, in consolidated currency, the Bank has a liquidity situation of Ch$4,539,761,272,333.

186

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

Liquid Assets Consolidated Balance Statement as of March 31, 2024, values in BCh$

Source: Financial Statements Banco de Chile as of March 31, 2024

Additionally, the regulatory entities have introduced other metrics that the Bank uses in its management, such as the Liquidity Coverage Ratio (“LCR”) and Net Stable Financing Ratio (“NSFR”), using assumptions similar to those used in the international banking. For the first, the minimum level required is 1 time (100%) of the LCR indicator, while for the second the limit requirement is 0.8 times (80%) of the NSFR indicator. The evolution of the LCR and NSFR metrics during the year 2024 are shown below:

	LCR		NSFR
Maximum		2.42		1.25
Minimum		2.33		1.24
Average		2.38		1.25
Regulatory Limit		1.0		0.8	(*)

(*) By transitory disposition of the Central Bank of Chile, in Chapter III.B.2.1 of the Compendium of Accounting Standards for Banks, this limit will gradually increase until reaching 1.0 in January 2026.

187

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(a) Liquidity Risk, continued:

The contractual maturity profile of the financial liabilities of Banco de Chile and its subsidiaries (consolidated basis), to March 31, 2024 and December 2023, is as follows:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of March 31, 2024
Transactions in the course of payment		296,700		—		—		—		—		—		296,700
Full delivery derivative transactions		566,116		718,161		930,813		1,246,575		858,487		1,492,596		5,812,748
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,539,960		—		—		—		—		—		13,539,960
Saving accounts and time deposits		10,559,820		3,418,960		1,682,551		126,855		509		887		15,789,582
Obligations by repurchase agreements and securities lending		184,721		62		—		—		—		—		184,783
Borrowings from financial institutions		3,261,771		175,516		1,978,607		186,620		—		—		5,602,514
Debt financial instruments issued (all currencies)		18,032		278,485		991,510		2,857,698		2,499,519		4,437,907		11,083,151
Other financial obligations		273,393		—		24		—		—		—		273,417
Financial instruments of regulatory capital issued (subordinated bonds)		3,414		18,548		28,022		96,554		86,312		1,153,124		1,385,974
Total (excluding non-delivery derivative transactions)		28,703,927		4,609,732		5,611,527		4,514,302		3,444,827		7,084,514		53,968,829
Non-delivery derivative transactions		442,087		380,291		1,497,179		1,601,795		792,015		1,845,400		6,558,767

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of December 31, 2023
Transactions in the course of payment		356,871		—		—		—		—		—		356,871
Full delivery derivative transactions		449,301		883,862		946,696		1,138,243		738,806		1,481,105		5,638,013
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,321,660		—		—		—		—		—		13,321,660
Saving accounts and time deposits		10,432,630		3,515,344		1,517,789		66,062		595		542		15,532,962
Obligations by repurchase agreements and securities lending		156,846		158		—		—		—		—		157,004
Borrowings from financial institutions		44,475		65,210		5,079,495		157,383		—		—		5,346,563
Debt financial instruments issued (all currencies)		55,897		196,986		1,097,658		2,537,939		2,351,864		4,422,665		10,663,009
Other financial obligations		338,891		—		24		—		—		—		338,915
Financial instruments of regulatory capital issued (subordinated bonds)		3,006		—		46,575		95,774		85,615		1,146,822		1,377,792
Total (excluding non-delivery derivative transactions)		25,159,577		4,661,560		8,688,237		3,995,401		3,176,880		7,051,134		52,732,789
Non-delivery derivative transactions		339,148		339,427		1,033,954		1,245,586		964,056		1,879,807		5,801,978

188

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk:

The Price Risk measurement and management processes are carried out in accordance with the established on the Market Risk Management Policy, by using internal metrics developed by the Bank, both for the Trading Book and for the Accrual Book (the Accrual Book includes all balance sheet items, including those in the Trading Book but in such case these are reported at an interest rate adjustment term of one day, thus not generating accrual interest rate risk). In addition, the portfolio recorded under the Fair Value Through Other Comprehensive Income (hereinafter FVOCI) is considered, which is a sub-set of the Accrual Book, which given its nature is relevant to measure it independently. In addition, the Bank reports metrics to regulatory entities according to the models defined by them.

The Bank has established internal limits for the exposures of the Trading Book. In fact, FX positions (FX delta), interest rate sensitivities generated by the derivatives and debt securities portfolios (DV01 or also referred as to rho) and the FX options volatility sensitivity (vega) are measured, reported and controlled against their limits. Limits are established on an aggregate basis but also for some specific tenor points. The use of these limits is daily monitored, controlled and reported by independent control functions to the senior management of the bank. The internal governance framework also establishes that these limits must be approved by the board and reviewed at least annually.

The Bank measures and controls the risk for the Trading Book portfolios using the Value-at-Risk (VaR). The model uses a 99% confidence level and the most recent one-year observed rates, prices and yields data.

The use of VaR within the year 2024 is illustrated below:

	Value-at-Risk 99% one-day confidence level
	MCh$
Maximum		2,605
Minimum		894
Average		1,576

Additionally, the Bank performs measuring, limiting, controlling and reporting interest rate exposures and risks for the Accrual Book using internally developed methodologies based on the differences in the amounts of assets and liabilities considering the interest rate repricing dates. Exposures are measured according to the Interest Rate Exposure or IRE metric and their corresponding risks using the Earnings-at-Risk or EaR metric. Within these metrics, Prepayment Risk is considered, which corresponds to the customer’s ability to pay, totally or partially, their debt before maturity. For this, a loan flow allocation model is generated with exposure to interest rate fluctuations, according to their prepayment behavior, finally reflecting a decrease in their average maturity term.

189

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

The use of EaR within the year 2024 is illustrated below:

	12- months Earnings-at-Risk 99% confidence level 3 months closing period
	MCh$
Maximum		253,124
Minimum		175,971
Average		222,886

The regulatory risk measurement for the Trading Book (Market Risk Weighted Assets report or mRWA) is produced by utilizing guidelines provided by the Central Bank of Chile (hereinafter, “BCCh”) and the CMF. The referred methodologies estimate the potential loss that the bank may incur considering standardized fluctuations of the value of market factors such as FX rates, interest rates and volatilities that may adversely impact the value of FX spot positions, interest rate exposures, and volatility exposures, respectively. Interest rates changes are provided by the regulatory entity; moreover, correlation factors and very conservative term are included to explain non-parallel changes in the yield curve.

The risk measurement for the Banking Book, according to regulatory guidelines (RMLB report by its Spanish initials), as a result of interest rate fluctuations is carried out through the use of standardized methodologies provided by regulatory entities (BCCh and CMF). The report includes models for reporting interest rate gaps and how their value varies, according to rate fluctuations that are defined by the scenarios provided by the regulations. In addition to this, the regulatory entity has requested banks to establish internal limits, separately for short-term and long-term balances, NII and EVE respectively, for these regulatory measurements.

The results effectively realized during the month for trading activities are controlled against defined loss levels and if these levels are exceeded, senior management is notified in order to evaluate potential corrective actions.

Finaly, the Market Risk Management Policy of Banco de Chile enforces to perform daily stress tests for the Trading Book and monthly for the Accrual Book. Additionally, the stress test for the FVOCI portfolio is included, which is reported daily. The output of the stress testing process is monitored against corresponding alert levels; in the case those triggers are breached, the senior management is notified in order to implement further actions, if necessary. Additionally, these book tests are a fundamental part of establishing the Bank’s price risk appetite framework.

190

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets as of March 31,  2024
Cash and due from banks		3,228,007		—		—		—		—		—		3,228,007
Transactions in the course of collection		353,807		—		—		—		—		—		353,807
Financial assets at fair value through other comprehensive income:
Debt financial instruments		86,142		479,847		1,785,282		421,662		269,060		153,134		3,195,127
Derivative financial instruments for hedging purposes		2,402		12,619		214,324		526,579		429,927		1,083,620		2,269,471
Financial assets at amortized cost:
Rights from resale agreements and securities lending		—		—		—		—		—		—		—
Debt financial instruments		3,150,243				35,829		487,518		160,201		308,073		4,141,864
Loans and advances to Banks		861,933		164,970		156,641		41,708		—		—		1,225,252
Loans to customers, net		5,425,644		3,953,795		7,416,267		9,116,156		5,145,202		14,325,996		45,383,060
Total Assets		13,108,178		4,611,231		9,608,343		10,593,623		6,004,390		15,870,823		59,796,588

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Assets as of December 31,  2023
Cash and due from banks		2,441,580		—		—		—		—		—		2,441,580
Transactions in the course of collection		403,734		—		—		—		—		—		403,734
Financial assets at fair value through other comprehensive income:
Debt financial instruments		282,697		748,488		1,864,717		461,590		270,129		157,313		3,784,934
Derivative financial instruments for hedging purposes		773		5,738		208,234		328,274		531,229		929,754		2,004,002
Financial assets at amortized cost:
Rights from resale agreements and securities lending		74,796		—		—		—		—		—		74,796
Debt financial instruments				9,012		530,044		503,956		159,932		312,570		1,515,514
Loans and advances to Banks		2,216,985		74,312		233,533		—		—		—		2,524,830
Loans to customers, net		5,464,339		2,859,489		8,212,594		9,064,150		5,082,957		14,106,472		44,790,001
Total Assets		10,884,904		3,697,039		11,049,122		10,357,970		6,044,247		15,506,109		57,539,391

191

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of March 31,  2024
Transactions in the course of payment		292,953		—		—		—		—		—		292,953
Derivative Financial Instruments for hedging purposes		907		14,125		171,923		473,888		357,672		1,266,896		2,285,411
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,602,557		—		—		—		—		—		13,602,557
Saving accounts and time deposits		10,559,820		3,418,960		1,682,551		126,855		509		887		15,789,582
Obligations by repurchase agreements and securities lending		10,758		—		—		—		—		—		10,758
Borrowings from financial institutions		3,261,771		175,516		1,978,607		186,620		—		—		5,602,514
Debt financial instruments issued (*)		18,032		278,485		991,510		2,857,698		2,499,519		4,437,907		11,083,151
Financial instruments of regulatory capital issued (subordinated bonds)		3,414		18,548		28,022		96,554		86,312		1,153,124		1,385,974
Other financial obligation		273,393		—		24		—		—		—		273,417
Total liabilities		28,023,605		3,905,634		4,852,637		3,741,615		2,944,012		6,858,814		50,326,317

	Up to 1 month		1 to 3 months		3 to 12 months		1 to 3 years		3 to 5 years		Over 5 years		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Liabilities as of December 31, 2023
Transactions in the course of payment		317,056		—		—		—		—		—		317,056
Derivative Financial Instruments for hedging purposes		1,508		1,777		179,604		319,178		498,973		1,245,545		2,246,585
Financial liabilities at amortized cost:
Current accounts and other demand deposits		13,352,234		—		—		—		—		—		13,352,234
Saving accounts and time deposits		10,432,630		3,515,344		1,517,789		66,062		595		542		15,532,962
Obligations by repurchase agreements and securities lending		10,450		—		—		—		—		—		10,450
Borrowings from financial institutions		44,475		65,210		5,079,495		157,383		—		—		5,346,563
Debt financial instruments issued (*)		55,897		196,986		1,097,658		2,537,939		2,351,864		4,422,665		10,663,009
Financial instruments of regulatory capital issued (subordinated bonds)		3,006		—		46,575		95,774		85,615		1,146,822		1,377,792
Other financial obligation		338,891		—		24		—		—		—		338,915
Total liabilities		24,556,147		3,779,317		7,921,145		3,176,336		2,937,047		6,815,574		49,185,566

(*) Amounts shown here are different from those reported in the liabilities report which is part of the liquidity analysis, due to differences in the treatment of mortgage bonds issued by the Bank in both reports.

192

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

Price Risk Sensitivity Analysis

The Bank uses stress tests as the main sensitivity analysis tool for Price Risk. The analysis is implemented for the Trading Book, Accrual Book and the FVOCI portfolio separately. The Bank has adopted this tool as it is considered more useful than fluctuations in business as usual scenario, such as VaR or EaR, given that:

(i) The financial crisis show market factors fluctuations that are materially larger than those used in the VaR with 99% of confidence level or EaR with 99% of confidence level.

(ii) The financial crisis also show that correlations between these fluctuations are materially different from those used in the VaR computation, since a crisis precisely indicates severe disconnections between the behaviors of market factors fluctuations respect to the patterns observed under normal conditions.

(iii) Trading liquidity dramatically diminishes during financial distress and especially in emerging markets. Therefore, the overnight VaR number might not be representative of the loss for trading portfolios in such environment since closing exposures period may exceed one business day. This may also happen when calculating EaR, even considering three months as the closing period.

The impacts are determined by mathematical simulations of fluctuations in the values of market factors, and also, estimating the changes of the economic and /or accounting value of the financial positions.

193

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

In order to comply with IFRS 9, the following exercise was included illustrating an estimation of the impact of extreme but reasonable fluctuations of interest rates, swaps yields, FX rates and exchange volatility, which are used for valuing Trading Book, Accrual Book and the FVOCI portfolio. Given that the Bank’s portfolio includes positions denominated in nominal and real interest rates, these fluctuations must be aligned with extreme but realistic Chilean inflation changes forecasts.

For the Trading Book, the exercise is implemented by multiplying the sensitivities by the fluctuations obtained as the results of mathematical simulations over a two-week time horizon and using the maximum historical volatility, within a significant period of time, in each of the market factor present. In the case of the FVOCI portfolio a four-week time horizon is used due to liquidity constrains; Accrual Book impacts are estimated by multiplying cumulative gaps by forward interest rates fluctuations modeled over a three-month time horizon and using the maximum historical volatility of interest fluctuations but limited by maximum fluctuations and / or levels observed within a significant period of time. It is relevant to note that the methodology might ignore some portion of the interest rates convexity, since it is not captured properly when large fluctuations are modeled. In any case, given the magnitude of the changes, the methodology may be reasonable enough for the purposes and scope of the analysis.

The following table illustrates the fluctuations resulting from the main market factors in the maximum stress test exercise, or more adverse, for the Trading Book.

The directions or signs of these fluctuations are those that correspond to those that generate the most adverse impact at the aggregate level.

Average Fluctuations of Market Factors for Maximum Stress Scenario Trading Book
	CLP Derivatives (bps)		CLP Bonds (bps)		CLF Derivatives (bps)		CLF Bonds (bps)		USD Offshore SOFR Derivatives (bps)			Spread USD On/Off Derivatives (bps)
Less than 1 year		22		285		173		340		1			13
Greater than 1 year		9		173		22		181		(5	)		11

bps = basis points.

194

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

(b) Price Risk, continued:

The worst impact on the Bank’s Trading Book as of March 31, 2024, as a result of the simulation process described above, is as follows:

Most Adverse Stress Scenario P&L Impact Trading Book (MCh$)
CLP Interest Rate			(10,671)
Derivatives	(361	)
Debt instruments	(10,310	)
CLF Interest Rate				(4,453	)
Derivatives	512
Debt instruments	(4,965	)
Interest rate USD offshore				(32	)
Domestic/offshore interest rate spread USD				(5	)
Total Interest rates				(15,161	)
Banking spread				(46	)
Total FX and FX Options				178
Total				(15,029	)

The modeled scenario would generate losses in the Trading Book for Ch$15,029 million. In any case, such fluctuations would not result in material losses compared to Basic Capital or to the P&L estimate for the next 12-months.

The impact on the Accrual Book as of March 31, 2024, which does not necessarily mean a net loss(gain) but a greater(lower) net income from funds generation (resulting net interest rate generation), is illustrated below:

Most Adverse Stress Scenario 12-Month Revenue Accrual Book (MCh$)
Impact by Base Interest Rate shocks	(230,752	)
Impact due to Spreads Shocks	(24,087	)
Higher / (Lower) Net revenues	(254,839	)

195

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(3) Market Risk, continued:

The impact on the FVOCI portfolio it is show in the followings tables. First are the main fluctuation in the market factors, due to the scenarios provided for the stress test meltdown (more adverse), for this portfolio.

The sign of the fluctuation below, correspond to the ones that generate the most adverse impact.

Average Fluctuations of Market Factors for Maximum Stress Scenario FVOCI Portfolio
	CLP Bonds (bps)		CLF Bonds (bps)		USD Offshore SOFR Derivatives (bps)		Spread USD On/Off Derivatives (bps)
Less than 1 year		357		418		10		6
Greater than 1 year		218		262		21		1

bps = basis points

The worst impact on the Bank’s FVOCI portfolio as of March 31, 2024, as a result of the simulation process described above, is as follows:

Most Adverse Stress Scenario P&L Impact FVOCI portfolio (MCh$)
CLP Debt Instrument	(48,789	)
CLF Debt Instrument	(72,978	)
Interest rate USD offshore	(3,064	)
Domestic/offshore interest rate spread USD	—
Banking spread	(3,992	)
Corporative spread	(8,507	)
Total	(137,330	)

The modeled for the FVTOCI Portfolio would generate potential impacts on equity accounts for Ch$137,330 million.

The main negative impact on the Trading Book would occur as a result of an increase in debt instruments in CLF over 1 year, followed by an increase in CLP debt instruments over 1 year, while in the case of the FVTOCI portfolio the main impact comes from upward fluctuations in interest rates of debt instruments in CLF greater than 1 year and from the simulated corporate spread. For its part, the lowest potential income in the next 12 months in the Accrual Book would occur in a scenario of a sharp drop in nominal interest rates and inflation.

196

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(4) Other Information related to Financial Risks:

a) Implementation of new reference rates in foreign currency:

As a consequence of the decisions made by the United Kingdom Financial Conduct Authority (FCA) and the recommendations of the Alternative Reference Rates Committee (ARRC) made up of the Federal Reserve Board and the New York FED, from 12-31-2021 Libor rates in currencies other than US$ are no longer published, from 01-01-2022 new operations based on Libor stopped being issued and it was reported that from 06-30-2023 Libor in US$ will stop being published. As a result, it was recommended to use the US$ Libor published only in contracts in force as of 12-31-2021 up to the last date of publication of this.

Given the above, since 2020 the Bank enabled and implemented, in its different dimensions, the new risk-free reference rates (“RFR”) for carrying out operations in foreign currency as of 01-01-2022.

The process was structured in 5 phases:

● 1st phase

- Identification of the risks associated with the Libor transition process through the collection of information regarding the number of operations, amounts involved, remaining terms, types of products and course coins.

- Periodic exchange of information with the main global banks regarding the RFRs that were being defined as a replacement for Libor rates.

- Review of the documents published by the ARRC with its recommendations.

● 2nd phase

- Preparation and presentation to the CMF in the year 2021 of the situational analysis of Banco de Chile regarding the end of Libor. This included reporting on the information research carried out in the 1st stage and the impact that the end of the Libor rate had both at the level of products and at the level of Bank areas.

● 3rd phase

- Definition of the new RFRs to be used in the different currencies (daily SOFR, term SOFR, TONAR, SONIA, etc.)

- Implementation of the RFR in the Bank’s systems

● 4th phase

- Carrying out tests of course of financial operations to review the correct accrual of the new RFR.

- Preparation of documentation with the RFR.

● 5th phase

- Renegotiation of contracts with floating Libor rate with expiration after June 2023, in process.

197

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(4) Other Information related to Financial Risks, continued:

b) FCA publication of April 03, 2023:

In November 2022, FCA announced a consultation on the possibility of continuing to publish synthetic USD LIBOR rates for 1, 3 and 6 months after the cessation of the defined LIBOR panel on June 30, 2023.

From the inquiry, on April 3, 2023 the FCA has announced that it will require the LIBOR panel to continue to publish 1, 3 and 6 month LIBOR rate adjustments using a ‘synthetic’ non-representative methodology.

Likewise, the FCA intends to cease publishing synthetic adjustments on September 30, 2024, however, it will take into account any unforeseen and material events.

c) Offsetting of financial assets and liabilities:

The Bank trades financial derivatives with foreign counterparties using ISDA Master Agreement (International Swaps and Derivatives Association, Inc.), under legal jurisdiction of the City of New York – USA or London – United Kingdom. Legal framework in these jurisdictions, along with documentation mentioned, it allows Banco de Chile the right to anticipate the maturity of the transaction and then, offset the net value of those transactions in case of default of counterparty. Additionally, the Bank has negotiated with these counterparties an additional annex (CSA Credit Support Annex), that includes other credit mitigating, such as entering margins on a certain amount of net value of transactions, early termination (optional or mandatory) of transactions at certain dates in the future, coupon adjustment of transaction in exchange for payment of the debtor counterpart over a certain threshold amount, etc.

Below are detail the contracts susceptible to offset:

	Fair Value				Negative Fair Value of contracts with right to offset						Positive Fair Value of contracts with right to offset						Financial Collateral						Net Fair Value
	March		December		March			December			March			December			March			December			March		December
	2024		2023		2024			2023			2024			2023			2024			2023			2024		2023
	MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$		MCh$
Derivative financial assets		2,653,925		2,084,441		(789,989	)		(929,094	)		(1,296,755	)		(816,453	)		(228,871	)		(160,125	)		338,310		178,769
Derivative financial liabilities		2,763,406		2,357,523		(789,989	)		(929,094	)		(1,296,755	)		(816,453	)		(297,705	)		(294,410	)		378,957		317,566

198

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(5) Operational risk:

One of the Bank’s objectives is to monitor, control and maintain at adequate levels, the risk of losses resulting from a lack of adequacy or a failure of processes, personnel and/or internal systems, or due to external events. This definition includes legal risk and excludes strategic and reputational risk.

Operational risk is inherent in all activities, products and systems, and cuts across the entire organization in its strategic, business and support processes. It is the responsibility of all the Bank’s collaborators to manage and control the risks generated within their scope of action, since their materialization may lead to direct or indirect financial losses.

To face this risk, the Bank has defined a Regulatory Framework and a governance structure according to the volume and complexity of its activities. The Retail Credit Risk and Global Risk Control Division administer the management of this risk, through the establishment of an Operational Risk Management. Likewise, the “Superior Committee for Operational Risk” and the “Committee for Operational Risk” supervise it.

The Operational Risk Policy defines a comprehensive management model based on four main processes that ensure an adequate control environment in the organization.

These processes are implemented in the different areas of Operational Risk action, using various management and control tools:

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(5) Operational risk, continued:

The aforementioned processes correspond to:

1. Identification and Evaluation: At Banco de Chile, this process considers internal and external factors, which allows us to better understand operational risk, and thus allocate resources and define strategies efficiently and effectively.

The Bank promotes the use of methodologies and procedures with the objective of guaranteeing an adequate identification and evaluation of these risks, both inherent and residual. These are executed with a frequency that allows knowing the operational risks in a timely manner.

2. Control and Mitigation: Determination of acceptable risk levels and mitigation actions to be applied in case of deviation from these levels. This process aims to maintain risk at adequate levels.

Banco de Chile will execute a set of control and mitigation tools in the different areas of management, which will make it possible to alert deviations in exposure to operational risk, where mitigation measures will be evaluated to solve them.

3. Monitoring and Reporting: This process aims to guarantee the monitoring of the main risks and inform the different interested parties.

At Banco de Chile, monitoring and reporting will consider information related to the different areas of management. If necessary, the results of the monitoring activities will be included in the relevant government instances.

4. Operational Risk Culture: The Operational Risk Management plans operational risk culture programs, aimed at raising awareness and training Bank employees in risk identification, control effectiveness, and event detection in their normal operating activities, so that each collaborator contributes to reduce the occurrence of risk events and mitigate their impact on the business.

Additionally, the comprehensive management of Operational Risk considers the following areas:

− Fraud Management

− Process Assessment

− Testing of Controls

− Event Management

− Loss Base Management

− Profile and Risk Appetite Framework

− Generation of stress test models for Operational Risk

− Supplier Management

− Self-Assessment Matrix

− Operational Risk Assessment for Projects

− Subsidiary Control

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

(5) Operational risk, continued:

All areas previously mentioned, together with the corresponding regulatory framework and governance structure, constitute the overall management of Operational Risk. In this way, Banco de Chile and its Subsidiaries ensure an adequate environment for the management of operational risk.

Below is the exposure to net loss, gross loss and recoveries due to operational risk events as of March 31, 2024 and 2023:

	March 2024							March 2023
	Lost Gross		Recoveries			Lost Net		Lost Gross		Recoveries			Lost Net
	MCh$		MCh$			MCh$		MCh$		MCh$			MCh$
Category
Internal fraud		5		—			5		23		(1	)		22
External fraud		7,819		(3,062	)		4,757		5,385		(1,963	)		3,422
Work practices and safety in the business position		302		—			302		504		—			504
Customers, products and business practices		258		—			258		298		—			298
Damage to physical assets		372		(51	)		321		223		(1	)		222
Business interruption and system failures		45		(6	)		39		61		—			61
Execution, delivery and process management		1,136		(4	)		1,132		751		(84	)		667
Total		9,937		(3,123	)		6,814		7,245		(2,049	)		5,196

Cybersecurity

The Engineering Management is in charge of defining, implementing and maximizing existing cyber threat protection technologies, and defining and maintaining the security architecture. The Cyber Defense Management is responsible for safeguarding information assets by proactively detecting, responding and containing threats. Likewise, this department is responsible for managing cybersecurity incidents in an assertive and timely manner, minimizing the impact and improving response times, with the aim of protecting the Bank’s operations. The Technological Risk Management is responsible for applying the activities for the identification, evaluation and monitoring of Technological Risks, Information Security and Cybersecurity through the Business, Strategic and Support Processes carried out by the different Divisions, Managements and areas of the Bank. These guidelines must be integrated into all areas in which they are applicable (project development, assessments of emerging risks and assessment of the cybersecurity maturity level for suppliers).

On the other hand, On the other hand, the Cybersecurity and Subsidiaries Management Department is responsible for defining, managing, and complying with the Strategic Plan of the Cybersecurity Division, guaranteeing the effective and efficient use of resources, and to impart and control cybersecurity guidelines for suppliers, develop, and implement the corporation’s cybersecurity awareness program. Likewise, it is responsible for establishing controls and monitoring regarding cybersecurity and information security in the subsidiaries. Finally, the Cyber Intelligence and Advanced Analytics Sub-Management aims to obtain, analyze, and process timely information regarding threats, to provide cyber intelligence and facilitate decision-making within the corporation, in order to keep it safe, protected and resilient.

201

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

Business Continuity:

The Bank in the management for the compliance with the objectives related to the delivery of the service of attention to its clients, has the Management of Business Continuity, responsible for managing the constant preparation for the safeguard of the operation of the critical products and services before situations that could affect the continuity of the organization or of the country.

In addition, the Business Continuity Management defines the global and regulatory framework established in the Policy and Standard, developing a consistent Continuity Plan for the Bank and its Subsidiaries, with the aim of managing the strategy and control of business continuity in operational and technological lines, maintaining alternate operation plans, controlled and simulation tests to reduce the impact of disruptive events, in addition to providing resilience to the organization by establishing comprehensive strategies to ensure the safety of the employees, protect the Bank’s assets from catastrophic scenarios, maintain relevant documentation and carry out trainings associated with this subject. Additionally, it designs and implements independent controls, through the Information Security Officer (ISO) Role.

That is why Business Continuity has methodologies and controls that contribute to the application of the comprehensive model and its strategy within the corporation, mainly represented in the following management areas:

− Document Management: It consists of carrying out methodological processes of updating the documentation that supports Business Continuity in operational and technological areas, with the aim of keeping the strategy implemented in the Bank up to date and in accordance with the guidelines of Business Continuity Management (BCM).

− Business Continuity Tests: It refers to annually scheduled contingency simulations that address the 5 risk scenarios defined for the Bank in operational and technological areas (Failure in Technology Infrastructure, Failure in Physical Infrastructure, Massive Absence of Personnel, Failure in Critical Supplier Service and Cybersecurity), allowing to maintain constant training and integration of critical personnel operating the payment chain, under the defined contingency procedures that support the Bank’s critical products and services.

− Crisis Management: Internal process of the Bank that maintains and trains the key executive roles associated with the Crisis Groups in conjunction with the main recovery strategies and structures defined in the BCM model. In this way, it constantly strengthens the different areas necessary for preparation, execution and monitoring, to face crisis events in the Bank.

− Critical Supplier Management: This involves the management, control and testing of Business Continuity Plans implemented by the suppliers involved in the processing of critical products and services for the Bank, associated with the risk scenarios established in direct relation to the contracted service.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

47. Risk Management and Report, continued:

Business Continuity, continued:

− Alternative Site Management: It includes the continuous management and control of secondary physical locations for the Bank’s critical units, to keep the operation active in case of failure in the main work location. The objective is to protect and maintain the technological and operational functionalities of the alternative sites, to reduce recovery times in case of crisis and that activation is effective when its use is required.

− Relations with subsidiaries and External Entities: It consists of the permanent control, management and leveling on the compliance of Subsidiaries under the methodology and strategic lines established by the Bank in crisis environments and Business Continuity Management. It also includes the global management with the requirements of internal and external regulators.

− Continuous Improvement: considers the application of plugins, automation and the adaptation of resources used in the internal processes of the business continuity model, with the objective of improving response in the analysis and delivery of information in contingencies, complementing the managed processes of the BCM.

− Training: It includes the development and implementation of processes and instances prepared under different learning methodologies to strengthen and empower employees permanently on the areas of the business continuity model and its strategies.

− Cybersecurity Officer Role (ISO): Design and implement independent controls by monitoring the tasks carried out by the organizational units responsible for the Bank’s information security and cybersecurity.

The management and unification of the described areas, together with the compliance of the implemented regulations and the structured governability, constitute the Business Continuity Model of the Bank of Chile.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48. Information on Regulatory Capital and Capital Adequacy Ratios:

Requirements and Capital Management:

The main objectives of the Bank’s capital management are to ensure the adequacy and quality of its capital, at a consolidated level, based on the adequate management of the risks it faces in its operations, establishing sufficient capital levels, through the definition of internal objectives, that supports both the business strategy in both normal and stress scenarios in the short and medium term, thus ensuring compliance with regulatory requirements, coverage of its material risks, a solid credit classification and the generation of adequate capital clearances. During 2024, the Bank has met the required capital requirements and its internal sufficiency objectives.

As part of its Capital Management Policy, the Bank has established capital sufficiency alerts and limits approved by the Board of Directors, which are monitored by the governance structures that the Bank has established for these purposes, including the Capital Management Committee. During 2024, none of the internal alerts defined by the Bank were activated as part of the Capital Risk Appetite Framework. In this sense, the Bank manages capital based on its strategic objectives, its risk profile and its ability to generate cash flows, as well as the economic and business context in which it operates. If it requires strengthening its capital structure, the Bank may, among other options, propose to its shareholders meeting modifications to the dividend payment ratio, as well as issue basic capital, additional tier 1 capital or tier 2 capital instruments.

Capital Requirements

In accordance with the General Banking Law, the effective equity of a bank may not be less than 8% of its risk-weighted assets (RWA), net of required provisions. Additionally, it establishes that the Basic Capital may not be less than 4.5% of its APR or 3% of its total assets, net of required provisions. Regarding Tier 1 capital, corresponding to the sum of Basic Capital and Additional Tier 1 Capital, the latter in the form of bonds with no maturity date and preferred shares, it is established that it may not be less than 6% of their RWAs, net of required provisions. Likewise, banking entities must comply, as established by current regulations or regulators, with buffers and capital charges, such as the conservation buffer, the countercyclical buffer and capital charges by the systemically important buffer and/or Pillar 2.

Adoption of the Basel III standard

In 2019, the CMF began the regulatory process for the implementation of Basel III standards in Chile, as established in Law No. 21,130 that modernizes banking legislation. During the years 2020 and 2021, the CMF promulgated the different regulations for the adoption of the Basel III standard for local banking, which are applicable as of December 1, 2021. The regulation includes the standard methodologies to determine, among others, Credit, Operational and Market Risk-Weighted Assets, regulatory capital, leverage ratio and systemically important banks. Additionally, the regulations describe requirements and conditions applicable to: (i) the application of internal models for the calculation of certain risk-weighted assets, (ii) the issuance of additional tier 1 and tier 2 capital hybrid instruments, (iii) market disclosure requirements (Pillar 3), (iv) the principles for determining capital buffers (countercyclical and conservation), (v) additional requirements to which banks defined as systemically important and (vi) the criteria by which banks can be defined as atypical and subject to more exhaustive supervision, as well as additional capital requirements (Pillar 2) among others.

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48. Information on Regulatory Capital and Capital Adequacy Ratios, continued:

On May, 2023, the Central Bank reported that its board agreed to activate the counter-cyclical core capital requirement for banks, at a local banking industry level, equivalent to 0.5% of the risk-weighted assets of banking institutions, required starting from the month of May 2024.

On January 16, 2024, the Financial Market Commission (CMF) reported that, as a result of the supervision process, it resolved to apply additional capital requirements of Pillar 2 of 0.5% for Banco de Chile within an implementation period of four years. This requirement must be constituted in a ratio of 25% no later than June 30, 2024. The remaining amounts for each of the following three years will be adjusted according to the result of the annual evaluation of Patrimonial Sufficiency carried out by the CMF, taking into consideration any possible modifications made to the total additional charge applicable to the Bank. Likewise, this requirement must be recognized at least 56.3% with basic capital in proportion to the minimum legal requirements.

On April 1, 2024, the CMF reported the result of the annual review of the banks’ systemic importance rating, maintaining an additional basic capital charge of 1.25% of the APR for Banco de Chile, payable in accordance to the gradualness defined by the regulations, so the capital charge required as of December 2024 will be equivalent to 75% of said percentage. CMF did not report additional requirements linked to Banco de Chile’s status as a systemic bank.

The aforementioned Basel III banking solvency standards consider a series of transitory regulations. These measures include: i) the gradual adoption of the conservation buffer, requirements for systemic banks, ii) the gradual application of adjustments to regulatory capital, iii) the temporary substitution of additional tier 1 capital (AT1) for tier 2 capital instruments, that is, subordinated bonds and additional provisions, completed in November 2023 and iv) gradualness to continue recognizing subordinated bonds issued by banking subsidiaries as effective equity, among other matters.

Information on regulatory capital and capital adequacy indicators is presented below:

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

48. Information on Regulatory Capital and Capital Adequacy Ratios, continued:

	Total assets, risk-weighted assets and components of the	Local and Overall consolidated		Local and Overall consolidated
	effective equity according to Basel III	March-2024		Dec-2023
Item No.	Item description	MCh$		MCh$
1	Total assets according to the statement of financial position		56,791,471		55,792,552
2	Non-consolidated investment in subsidiaries		—		—
3	Assets discounted from regulatory capital, other than item 2		157,634		168,765
4	Derivative credit equivalents		1,151,711		886,789
4.1	Financial derivative contracts		2,653,925		2,084,441
5	Contingent loans		2,976,325		2,827,120
6	Assets generated by the intermediation of financial instruments		—		—
7	= (1-2-3+4-4.1+5-6) Total assets for regulatory purposes		58,107,948		57,253,255
8.a	Credit risk weighted assets, estimated according to the standard methodology (CRWA)		32,726,084		31,887,173
8.b	Credit risk weighted assets, estimated according to internal methodologies (CRWA)		—		—
9	Market risk weighted assets (MRWA)		1,595,396		1,693,317
10	Operational risk weighted assets (ORWA)		4,263,351		4,110,324
11.a	= (8.a/8.b+9+10) Risk-weighted assets (RWA)		38,584,831		37,690,814
11.b	= (8.a/8.b+9+10) Risk-weighted assets, after application of the output floor (RWA)		38,584,831		37,690,814
12	Owner’s equity		5,174,906		5,237,283
13	Non-controlling interest		1		2
14	Goodwill		—		—
15	Excess minority investments		—		—
16	= (12+13-14-15) Core Tier 1 Capital (CET1)		5,174,907		5,237,285
17	Additional deductions to core tier 1 capital, other than item 2		53,753		60,992
18	= (16-17-2) Core Tier 1 Capital (CET1)		5,121,154		5,176,293
19	Voluntary provisions (additional) imputed as additional Tier 1 capital (AT1)		—		—
20	Subordinated bonds imputed as additional tier 1 capital (AT1)		—		—
21	Preferred shares allocated to additional tier 1 capital (AT1)		—		—
22	Bonds without a fixed term of maturity imputed to additional tier 1 capital (AT1)		—		—
23	Discounts applied to AT1		—		—
24	= (19+20+21+22-23) Additional Tier 1 Capital (AT1)		—		—
25	= (18+24) Tier 1 Capital		5,121,154		5,176,293
26	Voluntary provisions (additional) imputed as Tier 2 capital (T2)		409,076		398,590
27	Subordinated bonds imputed as Tier 2 capital (T2)		1,005,154		1,003,701
28	= (26+27) Equivalent tier 2 capital (T2)		1,414,230		1,402,291
29	Discounts applied to T2		—		—
30	= (28-29) Tier 2 capital (T2)		1,414,230		1,402,291
31	= (25+30) Effective equity		6,535,384		6,578,584
32	Additional basic capital required for the constitution of the conservation buffer		723,453		706,706
33	Additional basic capital required to set up the countercyclical buffer		—		—
34	Additional basic capital required for banks qualified as systemic		241,151		235,569
35	Additional capital required for the evaluation of the adequacy of effective equity (Pillar 2)		—		—

	Local and Overall consolidated			Local and Overall consolidated
	March -2024			Dec -2023
Capital Adequacy Ratios and Regulatory Compliance according to Basel III	%			%
Leverage Ratio		8.81	%		9.04	%
Leverage Ratio that the bank must meet, considering the minimum requirements		3	%		3	%
CET 1 Capital Ratio		13.27	%		13.73	%
CET 1 Capital Ratio that the bank must meet, considering the minimum requirements		5.13	%		5.13	%
Capital buffer shortfall		0	%		0	%
Tier 1 Capital Ratio		13.27	%		13.73	%
Tier 1 Capital Ratio that the bank must meet, considering the minimum requirements		6	%		6	%
Total or Regulatory Capital Ratio		16.94	%		17.45	%
Total or Regulatory Capital Ratio that the bank must meet, considering the minimum requirements		8.63	%		8.63	%
Total or Regulatory Capital Ratio that the bank must meet, considering the charge for article 35 bis		8	%		8	%
Total or Regulatory Capital Ratio that the bank must meet, considering the minimum requirements, conservation buffer and countercyclical buffer		10.50	%		10.50	%
Credit rating		A			A
Regulatory compliance for Capital Adequacy
Additional provisions computed in Tier 2 capital (T2) in relation to CRWA		1.25	%		1.25	%
Subordinated bonds computed as Tier 2 capital (T2) in relation to CET 1 Capital		19.42	%		19.16	%
Additional Tier 1 Capital (AT1) in relation to CET 1 Capital		0	%		0	%
Voluntary (additional) provisions and subordinated bonds computed as AT1 in relation to RWAs		0	%		0	%

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NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS, continued

49. Subsequent Events:

During the month of April 2024, Banco de Chile has reported as an essential fact the following placements in the local market of senior, dematerialized and bearer bonds issued by Banco de Chile and registered in the Securities Registry of the Commission for the Financial Market:

Date	Registration number in the Securities Registry	Serie	Amount		Currency	Maturity date	Average rate
April 4, 2024	11/2022	EY		500,000	UF	04/01/2028		3.28	%
April 12, 2024	11/2022	EX		250,000	UF	07/01/2025		3.10	%
April 17, 2024	11/2015	EX		400,000	UF	07/01/2025		3.02	%

The Interim Consolidated Financial Statements of Banco de Chile for the period ended March 31, 2024 were approved by the Directors on April 25, 2024.

In Management’s opinion, there are no other significant subsequent events that affect or could affect the Interim Consolidated Financial Statements of Banco de Chile and its subsidiaries between March 31, 2024 and the date of issuance of these Interim Consolidated Financial Statements.

Héctor Hernández G. General Accounting Manager	Eduardo Ebensperger O. Chief Executive Officer

207