Related Party Disclosures

12 Months Ended

Dec. 31, 2024

Related Party Disclosures [Abstract]

Related Party Disclosures

40. Related Party Disclosures:

Related parties are considered to be those persons or legal entities who are in positions to directly or indirectly have significant influence through their ownership or management of the Bank and its subsidiaries.

According to the above, the Bank has considered as related parties those persons or legal entities 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.

(a) Assets and liabilities with related parties:

	Related Party Type
Type of current assets and liabilities with related parties As of December 31, 2024	Parent Entity		Other Legal Entity			Key Personnel of the Consolidated Bank			Other Related Party			Total
ASSETS	MCh$		MCh$			MCh$			MCh$			MCh$
Financial assets held for trading at fair value through profit or loss
Derivative Financial Instruments		—		273,492			—			—			273,492
Debt financial instruments		—		—			—			—			—
Other financial instruments		—		—			—			—			—
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		—		5,388			—			—			5,388
Derivative Financial Instruments for hedging purposes		—		—			—			—			—
Financial assets at amortized cost:
Rights by resale agreements and securities lending		—		—			—			—			—
Debt financial instruments		—		—			—			—			—
Commercial loans		—		266,912			1,291			9,967			278,170
Residential mortgage loans		—		—			14,694			59,861			74,555
Consumer Loans		—		—			1,656			11,482			13,138
Allowances established – Loans		—		(1,291	)		(30	)		(326	)		(1,647	)
Other assets		16		132,549			38			7			132,610
Contingent loans		—		159,749			3,822			17,761			181,332
LIABILITIES
Financial liabilities held for trading at fair value through profit or loss
Derivative Financial Instruments		—		300,756			—			—			300,756
Financial liabilities designated as at fair value through profit or loss		—		—			—			—			—
Derivative Financial Instruments for hedging purposes		—		3,137			—			—			3,137
Financial liabilities at amortized cost:
Current accounts and other demand deposits		170		141,497			2,860			6,844			151,371
Saving accounts and time deposits		151,595		78,618			3,093			19,082			252,388
Obligations by repurchase agreements and securities lending		—		—			—			—			—
Borrowings from financial institutions		—		3,175			—			—			3,175
Debt financial instruments issued		—		—			—			—			—
Other financial obligations		—		—			—			—			—
Lease liabilities		—		9,200			—			—			9,200
Other liabilities		—		140,479			532			5			141,016

	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			Other 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 by 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		159,805			13			16			159,844
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

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

As of December 31, 2024	Parent Entity		Other Legal Entity			Key personnel of the consolidated Bank		Other Related party		Total
	MCh$		MCh$			MCh$		MCh$		MCh$
Interest and UF indexation revenue		—		20,660			1,059		5,964		27,683
Income from commissions		146		92,827			43		71		93,087
Net Financial income (expense)		—		35,318			—		—		35,318
Other income		—		—			—		—		—
Total Income		146		148,805			1,102		6,035		156,088
Interest and UF indexation expense		8,420		7,166			249		1,351		17,186
Expenses from commissions		—		28,569			—		—		28,569
Expenses credit losses		—		(1,233	)		12		94		(1,127	)
Expenses from salaries and employee benefits		—		312			37,918		81,818		120,048
Administrative expenses		—		11,462			3,628		88		15,178
Other expenses		—		—			1		11		12
Total Expenses		8,420		46,276			41,808		83,362		179,866

As of December 31, 2023	Parent Entity		Other Legal Entity			Key personnel of the consolidated Bank			Other Related party			Total
	MCh$		MCh$			MCh$			MCh$			MCh$
Interest and UF indexation revenue		—		29,432			1,298			6,034			36,764
Income from commissions		165		103,906			24			84			104,179
Net Financial income (expense)		—		(18,367	)		—			—			(18,367	)
Other income		—		215			—			—			215
Total Income		165		115,186			1,322			6,118			122,791
Interest and UF indexation expense		1,998		7,329			546			2,505			12,378
Expenses from commissions		—		29,508			—			—			29,508
Expenses credit losses		—		(2,078	)		(3	)		(15	)		(2,096	)
Expenses from salaries and employee benefits		—		421			38,083			80,430			118,934
Administrative expenses		—		11,776			3,786			229			15,791
Other expenses		—		—			2			23			25
Total Expenses		1,998		46,956			42,414			83,172			174,540

As of December 31, 2022	Parent Entity		Other Legal Entity		Key personnel of the consolidated Bank			Other Related party		Total
	MCh$		MCh$		MCh$			MCh$		MCh$
Interest and UF indexation revenue		—		49,027		2,382			9,736		61,145
Income from commissions		92		112,308		20			69		112,489
Net Financial income (expense)		—		88,103		—			—		88,103
Other income		—		79		—			—		79
Total Income		92		249,517		2,402			9,805		261,816
Interest and UF indexation expense		872		11,307		182			1,393		13,754
Expenses from commissions		—		35,948		—			—		35,948
Expenses credit losses		—		242		(5	)		31		268
Expenses from salaries and employee benefits		—		173		32,894			71,503		104,570
Administrative expenses		—		22,254		3,603			120		25,977
Other expenses		—		10		3			15		28
Total Expenses		872		69,934		36,677			73,062		180,545

(*) 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.

(c) Transactions with related parties: Below are the individual transactions in the period with related parties that are legal entities, 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 December 31, 2024

		Description of the transaction						Effect on Income				Effect on Financial position
Company name	Nature of the relationship with the Bank	Type of service	Term	Renewal conditions	Transactions under equivalent conditions to those transactions with mutual independence between the parties	Amount MCh$		Income MCh$		Expenses MCh$		Accounts receivable MCh$		Accounts payable MCh$
Ionix SPA	Other related parties	IT support services	30 days	Contract	Yes		141		—		141		—		—
Servipag Ltda.	Joint venture	IT support serices	30 days	Contract	Yes		367		—		367		—		—
		Collection services	30 days	Contract	Yes		4,235		—		4,235		—		387
Bolsa de Comercio de Santiago, Bolsa de Valores	Minority investments	Service of financial information	30 days	Contract	Yes		356		—		356		—		25
		Brokerage commission	30 days	Contract	Yes		423		—		423		—		—
		IT support services	30 days	Contract	Yes		256		—		256		—		—
Enex S.A.	Other related parties	Rent spaces for ATM	30 days	Contract	Yes		1,740		—		1,740		—		498
Universidad del Desarrollo	Other related parties	Advertising service	30 days	Contract	Yes		126		—		126		—		—
Universidad Adolfo Ibáñez	Other related parties	Training	30 days	Contract	Yes		272		—		272		—		—
Bolsa Electrónica de Chile S.A.	Minority investments	Brokerage commission	30 days	Contract	Yes		203		—		203		—		1
		Service of financial information	30 days	Contract	Yes		117		—		117		—		—
DCV Registros de Chile S.A.	Other related parties	IT services	30 days	Contract	Yes		294		—		294		—		—
		Electronic transaction management
Redbanc S.A.	Associates	Services	30 days	Contract	Yes		17,658		—		17,658		—		1,707
		IT proyect services	30 days	Contract	Yes		132		—		132		—		—
		Installation services	30 days	Contract	Yes		81		—		81		—		—
		Fraud prevention services	30 days	Contract	Yes		108		—		108		—		—
		IT services	30 days	Contract	Yes		442		—		442		—		—
Depósito Central de Valores S.A.	Other related parties	Quality control and custodial services	30 days	Contract	Yes		833		—		833		—		90
		Custodial services	30 days	Contract	Yes		1,357		—		1,357		—		—
CCLV Contraparte Central S.A.	Minority investments	Brokerage commission	30 days	Contract	Yes		352		—		352		—		22
Manantial S.A.	Other related parties	General expenses	30 days	Contract	Yes		379		—		379		—		—
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Associates	Collection services	30 days	Contract	Yes		881		—		881		—		91
Comder Contraparte Central S.A.	Other related parties	Securities clearing services	30 days	Contract	Yes		529		—		529		—		—
Citigroup Global Markets INC	Other related parties	Brokerage commission	30 days	Contract	Yes		387		—		387		—		29
Transbank S.A.	Associates	Card processing	30 days	Contract	Yes		498		—		498				97
		Project consultation	30 days	Contract	Yes		114		—		114		—		—
		Fraud Prevention services	30 days	Contract	Yes		87		—		87		—		—
		Exchange commission	30 days	Contract	Yes		79,025		79,025		—		—		—
Centro de Compensación Automatizado S.A.	Associates	Fraud Prevention services	30 days	Contract	Yes		657		—		657		—		333
		Collection services	30 days	Contract	Yes		187		—		187		—		—
		Transfer services	30 days	Contract	Yes		2,803		—		2,803		—		—
Artikos Chile S.A.	Joint venture	IT support services	30 days	Contract	Yes		422		—		422		—		2
		IT services	30 days	Contract	Yes		465		—		465		—		—
Citibank N.A.	Other related parties	Connectivity business commissions	Quarterly	Contract	Yes		8,065		8,065		—		3,272		—
Fundación Teletón	Other related parties	Advertising services	30 days	Contract	Yes		449		—		449		—		121
		Donations	30 days	Contract	Yes		1,599		—		1,599		—		—
Canal 13	Other related parties	Advertising services	30 days	Contract	Yes		202		—		202		—		73
Inmobiliaria e Inversiones Capitolio S.A.	Other related parties	Leases	30 days	Contract	Yes		84		—		84		—		—
Nuevos Desarrollos S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		180		—		—		—		496
Plaza Vespucio SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		127		—		—		—		154
Plaza Oeste SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		254		—		—		—		810
Plaza del Trebol SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		270		—		—		—		73
Plaza Tobalaba SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		135		—		—		—		113
Plaza La Serena SPA	Other related parties	Financial lease agreements	30 days	Contract	Yes		223		—		—		—		543
Inmobiliaria Mall Calama S.A.	Other related parties	Financial lease agreements	30 days	Contract	Yes		141		—		—		—		137

As of December 31, 2023

		Description of the transaction						Effect on Income				Effect on Financial position
Company name	Nature of the relationship with the Bank	Type of service	Term	Renewal conditions	Transactions under equivalent conditions to those transactions with mutual independence between the parties	Amount MCh$		Income MCh$		Expenses MCh$		Accounts receivable MCh$		Accounts payable 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 Ibáñez	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		—		—		—		—

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

	2024		2023
	MCh$		MCh$
Directory:
Payment of remuneration and attendance fees of the Board of Directors -  Bank and its subsidiaries		3,500		3,347
Other Board expenses		78		111
Key Personnel of the Management of the Bank and its Subsidiaries:
Payment for short-term employee benefits		33,779		36,535
Payment for severance		4,139		1,548
Subtotal		37,918		38,083
Total		41,496		41,541

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

	2024		2023
	No. Executives
Directory:
Directors – Bank and its subsidiaries		17		16
Key Personnel of the Management of the Bank and its Subsidiaries:
CEO – Bank		1		1
CEOs – Subsidiaries		5		5
Division Managers / Area – Bank		74		90
Division Managers / Area – Subsidiaries		27		30
Subtotal		107		126
Total		124		142