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Santiago, Coffering a wfor the fostatementsconveniencour internahas been o(“SBIF”).
Financi
In 4Q 20totalledUS$0.45when cincreasemain drpositive(ii) net ifull incoadjustmequatio
Total loloans) Decembachieve137.5bpto our fand liquthe fouof loansthe thirthe fifth
During
F
Chile, Februarywide variety ofurth quarter s prepared ince of the readeal exchange raobtained from
al Highlights
013, Net Incom Ch$54,383 m553 per ADR)compared to e when comprivers for this e impact of thincome from torporation of ment to purcn.
oans (excludinreached Ch
ber 31, 2013e a market shap YoY and a defocus shift towuidity in Chile.urth largest pris and depositsrd place bankh largest privat
4Q 2013:
Courth Q
y 20, 2014. COf corporate andended Decemn accordance er, U.S. dollar te as of Decem
m the informat
me attributablemillion (Ch$0.15), reflecting a4Q 2012 (Yo
pared to 3Q 2quarter incree revenue genthe sale of 31 Helm during
chase price
g interbank anh$13,085.7 b3, allowing Care of 11.5%, aecrease of 23.wards increasin CorpBanca coivate bank in Cs, and has clos. CorpBanca te bank in Colo
CorpBancQuarter 2
ORPBANCA (Nd retail financi
mber 31, 2013with Chileanamounts in thmber 31, 2013tion provided
e to sharehold598 per share 46.7% increa
oY) and a 93.2013 (QoQ). Tase were: (i) tneration in Chbranches and 4Q and relatallocation (PP
nd contingent illion as of CorpBanca to an increase of 6bp QoQ due ng profitability ontinues to be Chile in terms sed the gap to also ranks as ombia.
ca Anno2013 Fina
NYSE:BCA; BCSal products an. This report generally acis report have of Ch$526.41by the Super
ers e or ase .2% The the hile; (iii) ted PA)
Mr. Fern
During 2successfenvirongoals to(synergytowardsdiversifireduce and to proud tothis yemilestonregionalthe Helmore th2013; (senior acquisitHelm Ba
The cucrownedCorpBanand to expect
ounces ancial R
S: CORPBANCAnd services, todis based on
ccepted accou been translat1 per U.S. dollarintendency of
nando Massú,
2013, CorpBanful even inment. We hao further impy, efficiency ans what we coication of fudependence balance our o have accomear, we alsones, most olization procelm Bank acquhan US$620 m(ii) CorpBancaNotes; and ion of a majorank in August 2
ulmination of d with the renca agreed to combine busthis strategic
Report;
A), a Chilean day announcedunaudited counting principed from Chileaar. Industry daf Banks and F
CEO
nca has shown n a stressfuad particularlyrove our strand reciprocity)onsider to be nding sourceon institutiofunding structplished these o achieved of them relaess: (i) in conuisition, Corpmillion in new a issued US$(iii) we clo
rity of the equ2013.
f a successfuecent announa merger withsinesses in Cc association
financial institd its financial rnsolidated finles. Solely foan nominal peta contained hinancial Institu
that it can be ul economic y demanding tegic focuses and to move an adequate s, so as to nal investorsture. We are goals. During three major ated to our nnection with Banca raised capital in 1Q 8000 million sed on the ity interest of
ul year wasncement thath Itaú in Chile olombia. We will to be
tution results ancial or the sos at herein utions
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Net opand inc
Net proQoQ an
Total oQoQ an
perating profitrease 72.4% Yo
ovisions for loand increase 125
operating expnd 55.0% YoY.
t increased byoY;
an losses decre5.5% YoY; and
penses increa
y 34.4% QoQ
ease by 26.8%
se by 24.4%
highlightransactstrongesUS$45 billion in
With ththat tooCorpBanvarious
In the elargest value, wAmerica
thousan
After thresult iplatformspecificaAmerica
hted as one tions of 2014st institutionsbillion in comn aggregate loa
his announcemok several monnca received cinternational f
end of this proprivate bank with a presenc, Europe an
d employees
he closing, we n the formatm for future eally in Chile, Ca.
of the maand to creats in Latin Ambined assetsans.
ment we finishnths of work, competitive prfinancial institu
ocess, Itaú Unin South Amce in 20 counnd Asia, and
succeeded.
expect this ttion of a leaexpansion in LaColombia, Peru
Press RelFebruary 20,
Page 2
ajor financial e one of the merica, with s and US$34
hed a process during which roposals from utions.
nibanco the merica market ntries in Latin about 100
ransaction to ding banking atin America, u, and Central
lease 2014 2 / 25
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General I Market Sha
Net Incom
4.944
7.0%
3.000
4.000
5.000
6.000
7.000
8.000
9.000
10.000
11.000
12.000
13.000
14.000
15.000
16.000
17.000
18.000
Dec‐08
T
M
Dec‐039,10
Dec‐0
Information
are
e (12 months t
5.012 5.469
7.3% 7.3%
8 Dec‐09 Dec‐10
otal Loans (Ch$mn
Market Share
CHILE´S LOA
0604
Dec‐0751,049
06 Dec‐07
n
trailing in milli
9
6.814
8.277
7.7%
8.4%
0 Dec‐11 Dec‐1
n)
AN PORTFOLIO
Dec‐0856,310
Dec‐0985,109
Dec‐08 Dec‐0
ions of Chilean
7 7.909
7.3%
2 Dec‐13
99
Dec‐10119,043
D1
9 Dec‐10 D
n pesos)
9.664 10.1
10.1% 10.1
Jun‐12 Dec‐1
CONSOLIDLOAN POR
Dec‐11122,849
Dec‐12120,080
Dec‐11 Dec‐12
Δ
161
13.086
1%
11.5%
4.50%
5.50%
6.50%
7.50%
8.50%
9.50%
10.50%
11.50%
12.50%
12 Dec‐13
DATED RTFOLIO
20
Dec‐13155,093
2 Dec‐13
Δ+29%
As of Deceaccording were the fprivate baof the oveportfolio (on a conso7.3% markunconsolidtaking intooperations
During 3Qadded US$through thHelm Bankthe 216bpmarket shconsolidattime. On tdecrease omarket shunconsolidtaking intooperationsour focus profitabilitChile.
Net IncomeCh$54.4 bil
The chart sour 12 monIncome fro2006 throu2013. DurinNet Incometrailing Decreached recCh$155,093in a 29% inc
Press RelFebruary 20,
Page 3
ember 31, 2013to the SBIF, wfourth largest nk in Chile in terall size of our11.5% market olidated basis aket share on andated basis ono account our s in Chile).
Q 2013, CorpBa$5.3 billion in lhe acquisition ok, which explaip increased in are on a ted basis at thathe other handof almost 1% oare on an dated basis (ono account our s in Chile) is duon increasing ty and liquidity
e for 4Q 2013 wllion.
hows the trennth trailing Netm December 3ugh Decemberng this period, e for the 12 mocember 31, 201cord levels: 3 billion, resultcrease YoY.
lease 2014 3 / 25
3, e
terms r loan share and n ly
nca oans of ined
at d, the of
nly
ue to
y in
was
d in t 31, 31, our onth 13
ting
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RoAE – RoA
24.8
20.2
0.0
5.0
10.0
15.0
20.0
25.0
30.0
Dec‐10
Jan‐11
Feb‐11
RoAE (%
)
12 months
1.7
1.5
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Dec‐10
Jan‐11
Feb11
RoAA(%
)
12 month
AA
2
Feb‐11
Mar‐11
Apr‐11
May‐11
Jun‐11
Jul‐11
Aug‐11
Sep‐11
Oct‐11
Nov‐11
traling
Δ+K~US$350mnJuly 2011
Feb‐11
Mar‐11
Apr‐11
May‐11
Jun‐11
Jul‐11
Aug‐11
Sep‐11
Oct‐11
Nov11
hs traling
Nov‐11
Dec‐11
Jan‐12
Feb‐12
Mar‐12
Apr‐12
May‐12
Jun‐12
Jul‐12
Aug‐12
Δ+K ~US$570mMay‐Jun2012
Nov‐11
Dec‐11
Jan‐12
Feb‐12
Mar‐12
Apr‐12
May‐12
Jun‐12
Jul‐12
A12
Aug‐12
Sep‐12
Oct‐12
Nov‐12
Dec‐12
Jan‐13
Feb‐13
Mar‐13
Apr‐13
May‐13
C
In
mnn
Δ+K ~US$620mnJan‐Feb 2013
Aug‐12
Sep‐12
Oct‐12
Nov‐12
Dec‐12
Jan‐13
Feb‐13
Mar‐13
Apr‐13
1214
May‐13
Jun‐13
Jul‐13
Aug‐13
Sep‐13
Oct‐13
Nov‐13
Dec‐13
ORPBANCA
ndustry
1
1
pMay‐13
Jun‐13
Jul‐13
Aug‐13
Sep‐13
Oct‐13
Nov‐13
Dec‐13
CORPBANCA
Industry
We havreturn betwee
Capitaland 20in ChileColombUS$1,5(+137.1since th
* Equity:
sharehofor man
The folimpactour corprofilesretail lo2012); SantanBanco Incomehalf of five moUF vari(Δ+2.45
Althouthe earindustrperformconseqdiversifstable
.4
.3
1.0
1.3
ve achieved anon equity (RoAen 2009 and 20
l increases rais013 to fulfill oue and our acqubia – for a tota570 million app1%)– have imphe third quarte
Average equity att
olders excluding netndatory dividends.
llowing other ited our RoAA: rporate loans (s and lower spoans in 2011 a (ii) the accrua
nder Colombia’Corpbanca Coe commencing2012 and of Honths in 2013; iation observe5% in 2012 vs.
gh the lower inrning generatiory, CorpBanca’mance was remquence of its grfication which revenue stream
Press RelFebruary 20,
Page 4
n average annuAE*) of 20.1% 012.
sed between 20r organic growuisitions in al amount of proximately pacted our RoAer 2011.
ributable to
t income and provis
tems have also(i) the increase(with lower rispreads than in ond beginning oal of Banco ’s (now knownlombia) Net g on the secondHelm Bank for oand (iii) the lod in 2013 Δ+2.05% in 20
nflation reduceon in the banks 2013 markable as a reater businesreflects more ms.
lease 2014 4 / 25
ual
011 wth
AE
sion
o e in k our of
as
d only ower
13)
ed ing
s
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Risk Index
NPL (%)
1.46
Dec‐
%
1.8%
De
(Loan loss allo
6
1.911.79
2.43
08 Dec‐09
CorpB
%2.%
3.%
ec‐09 Dec
owances / Tota
1.95
32.52
Dec‐10
anca CorpBan
1.6%
2.7%2
c‐10 Dec‐
CorpBanca
al loans)
1.641.54
1.2
2.36
Dec‐11 Dec
nca (Chile) Ind
1.2%
2.4%2.
11 Dec‐1
Industry
2.35
27
1.55
2.292.4
c‐12 Dec‐13
dustry
1.1%
.2% 2.1
2 Dec‐13
Consisstrateglowestallowabankinas of Dhad thloan plowest(2.35%banks marke(Sourc
CorpBbeen mof BanknownColom2012 aHelm Billustraratio cindust
We besystemto idenproblehave sto impmanag
42
1%
3
stent with one gies, CorpBanct risk indexes (ances / Total long industry in CDecember 31, 2he lowest risk inortfolio (1.55%t on a consolid%) among the trepresenting mt share in termce: SBIF).
anca´s high assmaintained aftnco Santander n as Banco Cormbia) which tooand after the aBank in Augustates how our ccontinues to betry average in C
elieve that our m and methodontify risks and ems on a timelysignificantly invprove the technge risk.
Press RelFebruary 20,
Page 5
of our core ca has one of thLoan loss oans) in the Chile. Specifica2013, CorpBanndex in its Chil%) and one of tated basis op eight Chileamore than 90%ms of total loan
set quality haster the acquisitColombia (nowpBanca ok place in Maycquisition of t 2013. The chaconsolidated Ne better than tChile.
risk managemology enables resolve potenty basis and wevested resourcnology we use
lease 2014 5 / 25
he
ally, nca ean the
an % of ns.
s tion w
y
art PL he
ment us tial e ces to
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BIS Ratio (%
10.8
Dec
%) – TIER I (%)
13.9
9.1 9.5
‐08 Dec‐09
13.4
8.9
Dec‐10
BIS Ratio (%)
14.5
11.19.5
Dec‐11 De
TIER I Ratio (%)
1
13.2
8.29.
ec‐12 Dec‐13
The in2013 iratio iincorpweighdeduc13% aquarteDecem
.4
3
ncrease of capiimproved the tn 2013. With poration of Hehted assets andction, our BIS Raccording with er estimates (1mber 2013).
Press RelFebruary 20,
Page 6
tal during 1Q trend in our BIthe lm Bank’s risk d the goodwill Ratio is still aboour previous 13.2% in
lease 2014 6 / 25
IS
ove
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Branches –
106
Dec‐08
Branche
Chile
205
Dec‐08
ATM
Chile
3,083
Dec‐08
Headcoun
Chile
– ATM – Headc
107 1
Dec‐09 De
s
Colombia
324 3
Dec‐09 De
Colombia
3,311 3,
17
Dec‐09 De
nt
Colombia
count
113 116
c‐10 Dec‐11
382 431
c‐10 Dec‐11
,404 3,443
18 18
ec‐10 Dec‐11
United States
122 12
87 17
Dec‐12 Dec
445 50
11218
Dec‐12 Dec
3,574 3,7
1,566
3,523
2
Dec‐12 Dec
Ourintecustincluteleopeinclu56 bconDecATMovein Cor Rchatelecliendistand
Corpprovto itdiveinteDec85 bin CATMwithColoColochateleclienbrannetw
As owe 3,58the
23
72
‐13
04
82
c‐13
724
586
26
c‐13
r distribution negrated financitomers througuding ATMs, bephone bankingerated 123 branuded 67 brancbranches operasumer financecember 31, 201Ms in Chile, andr 8,850 ATMs (Chile through oRedbanc. We unnels includingemarketing andnts. Our brancribution netwo services.
pBanca Colomvides integratets customers inerse channels, ernet banking acember 31, 201branch officesColombia and oMs respectivelyh access to oveombia’s financombia also utilnnels includingemarketing andnts. CorpBancanch systems sework for its ful
of December 3had a headcou86 employees United States.
network in Chilal services andgh several diverbranches, interg. As of Decemnch offices in Cches operating ating as Bancoe division. In ad13, we owned d our custome(including Banour agreement utilize a numbeg account execd the internet th system serveork for our full
bia’s distributied financial sern Colombia thrincluding ATMand telephone 13, CorpBanca and Helm Banowned and opey, while provider 12,280 ATMcial institutionslizes a numberg account execd the internet ta Colombia’s aerve as the mall range of prod
1, 2013, on a cunt of 3,724 emin Colombia an.
Press RelFebruary 20,
Page 7
e provides d products to orse channels, net banking anmber 31, 2013, Chile, which as CorpBanca
o Condell, our ddition, as of and operated rs had access tcoEstado’s ATMwith Redbanc
er of different scutives, to attract new es as the main range of prod
ion channel alsrvices and prodrough several Ms, branches, banking. As ofColombia opek 87 branch oferated 115 anding its customs through s. CorpBanca r of different sacutives, to attract new nd Helm Bankin distributionducts and serv
consolidated bmployees in Chnd 26 employe
lease 2014 7 / 25
our
nd we
and
504 to Ms) S.A., sales
ducts
so ducts
f erated ffices d 67 ers
ales
’s vices.
asis hile, ees in
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Managem I) Consolid Our consolCh$17,318Ch$28.154revenue ge4Q and rela On Octobe
CorpBancaDescubrimprice of alcontemplaa 15 year tmillion wer As we mendid not cofrom Auguownership as of Augus The follow2012 and S
(Expresse
Net inter
Net fee a
Treasury
Other op
Net oper
Provision
Net oper
Operatin
Other op
Operatin
Income f
Income b
Income t
Minority
Net inco
(1) Includ
II) Unconso The followimpact of books of Cexpenses i
ment’s Discu
ated Financial
lidated Net Inc million increa million in 3Qeneration in Chated adjustme
er 8, 2013, thr
correspondiento S.A., a sl 31 propertieted that CorpBterm and will re recorded th
ntioned in our rrespond to thust 6, 2013). interest in Hest 6, 2013 and
ing table set fSeptember 30,
ed in millions of Chil
rest income
and commission in
y
perating income
rating profit befor
n for loan losses (1)
rating profit
ng expenses
perating expenses
ng income
from investments
before taxes
tax expense
y interest
ome attributable t
des Provision for Co
olidated Finan
ing table presethe ColombianorpBanca Chilein connection
ussion and A
l Performance
come attributaase from Ch$3Q 2013. The mhile; (ii) net incnt to purchase
rough a privat
ding to the prsubsidiary of Fes was 1,811,0Banca leased bcontinue to oproughout the f
last quarterly he complete qAdditionally, lm Bank at diff35.8% as of Au
forth the comp2013:
Quar
lean pesos)
ncome
re loan losses )
in other companie
o shareholders
ntingent loans.
cial Performan
ents separatelyn operation ine include somewith the part
Analysis
Review
able to shareho37,065 million main drivers focome from the e price allocatio
te sale proces
roperties wherondo de Inver000 Unidades ack from Socieperate the brafourth quarter
report, 3Q 201quarter, but onthe recognitioferent times dugust 29, 2013
ponents of our
terly Consolidated
es
nce Review: Ch
y the results gn the consolidae expenses asst of the acqui
olders reportedin 4Q 2012 anor this quartersale of 31 braon (PPA) equat
s, CorpBanca
re CorpBanca’srsión Independde Fomento (edad Inmobiliaanches located.
13 results inclunly to the peron of the resuring the mon3).
r net income f
d Income Stateme
Qu
4Q13
147,621 1
39,348
25,414
29,984
242,367 1
(25,540) (3
216,827 1
(117,968) (9
(10,426) (
88,433
210
88,643
(28,896) (1
(5,364) (
54,383
hile and Colom
generated in Cated results ofsociated to theisition of Banc
d in 4Q 2013 wnd a 93.2% orr increase wernches; and (iii)tion.
agreed to sel
s branches opdencia Rentas (approximatelyaria Descubrimd at such prop
uded partial reriod following sults was granth of August (
for the quarte
ents (unaudited)
uarter
3Q13 4
138,306 87,
31,047 27,
7,151 21,
3,769 3,
180,273 140,
34,894) (11,3
145,379 129,
94,843) (76,1
(5,418) (5,3
45,118 47,
(1)
45,117 48,
10,987) (10,8
(5,976) (3
28,154 37,
mbia
hile and Colomf CorpBanca. Ie Colombian oco Santander
was Ch$54,383r Ch$26,229 mre: (i) the pos) full incorpora
l 31 real estat
perate to SoInmobiliarias. y US$84 millio
miento S.A. the perties. Total r
esults of Helm the acquisitiodual, and refownership of 5
rs ended Dece
4Q12 4Q13
,871 6
,763 4
,857 1
,106 86
,597 7
328) 12
,269 6
110) 5
314) 9
,845 8
440 ‐5
,285 8
864) 16
356) 140
,065 4
mbia for the 4QIs important toperations, parColombia (no
Press RelFebruary 20,
Page 8
3 million, a 46.million increasesitive impact oation of Helm d
te assets own
ociedad InmobThe aggregat
on). The transasame propertievenues of $2
Bank. These rn (55 days coflected CorpBa51.6% of Helm
ember 31, 201
Change (%)
3/4Q12 4Q13/3
68.0% 6.7
41.7% 26.7
16.3% 255.4
65.4% 695.5
72.4% 34.4
25.5% ‐26.8
67.7% 49.1
55.0% 24.4
96.2% 92.4
84.8% 96.0
52.3%
83.6% 96.5
66.0% 163.0
06.7% ‐10.2
46.7% 93.2
Q 2013 to shoo highlight tharticularly: (i) inow known as
lease 2014 8 / 25
.7% or e from of the during
ed by
biliaria e sale action ies for 23,254
results unted anca’s
m Bank
13 and
Q13
7%
7%
4%
5%
4%
8%
1%
4%
4%
0%
‐
5%
0%
2%
2%
ow the at the terest Banco
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CorpBancaBanco Santfiscal hedg These adjuacquisitionAugust 201
(Expressed in
Net interest
Net fee and
Treasury
Other opera
Net operati
Provision fo
Net operati
Operating e
Other opera
Operating iIncome fromcompanies
Income bef
Income tax
Net income
Efficiency R
(1) Includes
In terms ofthe Chilean These figurthat one‐ti Consolidat Our net opColombia ibeing consChile’s ope Consolidat Our net inmillion for increase inacquisition The increaspositive vainterest inctrailing netDecember
Colombia) thatander Colombe (used for cov
usted results fon of Banco San13. The adjuste
n millions of Chilean
t income
d commission inco
ating income
ing profit before l
or loan losses (1)
ing profit
expenses
ating expenses
ncome m investments in o
fore taxes
expense
e
atio
Provision for Contin
f Adjusted Netn operation ge
res show that me expenses h
ted Net Operat
perating incomncreased reveolidated. In faerations.
ted Net interes
terest incomethe same per
n net interest in in August 201
se in our interariation in the come divided t interest mar31, 2013. It i
at was not finabia acquisition verage of the t
or 4Q 2013 alltander Colomed 4Q 2013 res
n pesos)
Co
1
me
oan losses 2
(
2
(1
(
other
(
ngent loans.
t Income it is onerated Ch$55
greater businehave impacted
ting Profits bef
me increased benue generatioct, Ch$24,369
st income
e was Ch$147,riod in 2012 anincome was pr13.
est income waUF of 0.946%by average ingin trend is als important to
anced with equand in the acqax effects of th
ow the separabia (today Bansults presents i
4Q 20
nsolida‐ted C
147,621 76,
39,348 24,
25,414 7,
29,984 26,
242,367 134,
25,540) (10,3
216,827 124,
17,968) (53,2
10,426) (5,9
88,433 64,
210
88,643 64,
28,896) (18,1
59,747 46,
54.4% 42
observed that 5,287 million.
ess diversificat CorpBanca Co
fore Loan Loss
by Ch$62,094 mon, highlightingmillion of the
621 million innd an increaserimarily the re
as higher than % vs. 1.105% interest‐earninglso positive, ino mention tha
uity; (ii) amortquisition of Helhe total investm
ation of the Chnco CorpBancain our opinion
013
Chile Colombia
,490 71,131
,345 15,003
,048 18,366
,578 3,406
,461 107,906
324) (15,216)
,137 92,690
266) (64,702)
934) (4,492)
,937 23,496
22 188
,959 23,684
187) (10,709)
,772 12,975
2.9% 69.8%
the operation
tion in Chile haolombia after t
ses
million QoQ eqg the completiincrease is exp
n 4Q 2013, an e of 6.7% QoQesult of the inc
the increase inn 4Q 2013 ang assets) increncreasing fromat during the
ization of the lm Bank; and (ment in Colom
hilean results fa Colombia) onan unbiased re
a Adjust‐ments
1 5,158
3
6 (5,933)
6
6
)
0
) 2,214
) 21
6
8
4 1,460
) 7,055
5 8,515
%
n in Colombia g
as generated athe acquisition
quivalent to 34ion of the firstplained by Hel
increase of 6Q in comparisocorporation of
n our total intend 2012, respeased from 3.0
m 2.1% as of Dlast quarter o
intangible asse(iii) impacts in mbia).
from any impan May 2012 anesult achieved
4Q 2013 Adjus
Chile Co
81,648
24,345
1,115
26,578
133,686 1
(10,324) (1
123,362
(51,052) (6
(5,913)
66,397
22
66,419
(11,132) (1
55,287
41.4%
generated Ch$
an increasing r of Helm Bank
4.4% growth rt full quarter olm Bank and C
68.0% as compon to 3Q 2013f Helm Bank’s
erest‐earning aectively. Net i07% to 4.09%.December 31, of 2013 the Ce
Press RelFebruary 20,
Page 9
ets generated connection wit
act related witnd of Helm Ba in Chile:
sted Change
olombia 4Q13/4
Chi
65,973 3
15,003 2
24,299 ‐9
3,406 1,26
108,681 3
15,216) 14
93,465 3
66,916) 1
(4,513) 10
22,036 4
188 ‐7
22,224 4
17,764) ‐3
4,460 8
71.6%
$4,460 million
revenue stream.
rate. Both Chilof Helm’s opeCh$15,421 milli
pared to Ch$83. The YoY andresults followi
assets reflectinnterest margin On twelve m2012 to 3.0%entral Bank of
lease 2014 9 / 25
in the th the
th the ank on
e (%)
4Q12le
35.1%
29.9%
92.9%
63.0%
37.9%
43.3%
33.1%
17.6%
04.7%
43.1%
73.5%
42.9%
31.5%
82.8%
while
m and
le and ration ion by
87,871 d QoQ ing its
ng the n (net
months as of f Chile
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started a rerates and i(2.053% ve Consolidat
(Expresse
Banking s
Securitie
Mutual f
Insuranc
Financial
Legal adv
Net fee a
(*) Includ
Our net seCh$27,763Bank; (ii) tincrease in Consolidat
(Expresse
Trading a
Tradin
Tradin
Other
Net in
Foreig
Net treas
Net tradinCh$7,151 m
(i)
(ii)
(iii)
eduction of its its effects on rersus 2.452%) a
ted Fees and in
ed in millions of Chil
services(*)
s brokerage servic
und management
e brokerage
advisory services
visory services
and commission in
des consolidation ad
rvice fee incom million obtainthe increase in fees insurance
ted Trading an
ed in millions of Chil
and investment inc
ng investments
ng financial derivat
come from financ
gn exchange profit
sury position
g activities inmillion in Q3. T
an increase
related to s
loans), Chcompensateaccounting,securities;
an increasemillion proffrom tradin
in the case and investmto Repos, th
monetary polresults throughas well as in th
ncome from se
lean pesos)
ces
ncome
djustments.
me for 4Q 201ned in 4Q 201n commissionse brokerage.
nd investment
lean pesos)
come:
tives contracts
cial operations
t (loss), net
creased by CThis increase is
of Ch$7,057 m
sale of loans (C
h$22,482 millioed by Ch$25, and Ch$1,27
e of Ch$4,421 fits from transg derivatives a
of CorpBancament revenueshe fourth quar
icy interest rath the Unidad de fourth quart
ervices
3 was Ch$39,312. The increas from Adviso
h$18,263 mill mainly due to
million in the C
Ch$3,197 millio
on in losses r,570 profits f72 million rev
million in revsaction of tradnd Ch$1,202 m
Colombia, aft the benefits orter generated
te (from 5.0% tde Fomento ver compared t
Qua
4Q13
24,759 2
907
2,490
2,868
7,742
581
39,348 3
348 million, rese was primarry Services re
Qua
4Q13
5,934
27,013
10,667 (
43,614
5,934
(18,200) (
25,414
ion or 255% o:
hilean operatio
on associated
related to tradfrom exchangvenues from
venues from Hding and availmillion profit fr
ter deducting of Ch$8,274 md losses of Ch$
to 4.75% and 4variation were to third quarte
arter
3Q13 4Q
24,214 20,
182
1,405 1,
2,605 2,
2,080 3,
562
31,047 27,
presenting a 4rily the result lated to Chile
arter
3Q13 4Q
4,902 4,
7,168 7,
(2,451) 5,
9,619 16,
4,902 4,
(2,468) 5,
7,151 21,
QoQ to Ch$2
ons explained
to sale of “Cr
ding derivativge rate and Ctransaction of
Helm Bank opable for sale rom exchange
from the Ch$6million recorded$1,489 million,
4.50%). At the lower in 2013
er (0.946% vers
Q12 4Q13/4
,294 2
(42)
,224 10
,521 1
,277 13
489 1
,763 4
41.7% increaseof: (i) the incan Corporate
Q12 4Q13/4
,159 4
,334 26
,017 11
,510 16
,159 4
,347
,857 1
25.414 million
by a Ch$4,897
réditos con Ava
ves (client andCh$5,668 millf trading and
perations comsecurities, Ch$rate; and
6,785 million pd as net intere, most of it ex
Press RelFebruary 20,
Page 10
same time, inf3 compared tosus 1.043%).
Change (%)
4Q12 4Q13/3Q
22.0% 2.3
‐ 399.0
03.5% 77.3
13.7% 10.1
36.3% 272.3
18.9% 3.5
41.7% 26.7
e when comparcorporation of customers; (ii
Change (%)
4Q12 4Q13/3Q
42.7% 21.1
68.3% 276.9
12.6%
64.2% 353.4
42.7% 21.1
‐ 637.4
16.3% 255.4
for 4Q 2013
7 million of rev
al del Estado”
d non‐client dlion due to hd available fo
posed by Ch$$474 million p
profits from trest revenues rexplained by los
lease 2014 0 / 25
flation o 2012
Q13
3%
0%
3%
1%
3%
5%
7%
red to Helm ii) the
Q13
1%
9%
‐
4%
1%
4%
4%
from
enues
CAE driven) hedge r sale
$2,895 profits
rading elated sses in
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A significahedges or a Consolidat
(Expresse
Commer
Resident
Consume
Others
Net prov
(1) Exclud
Expenses fCh$35,487or loans wi Regarding specific coof Ch$8,13since Auguhomogeniz Consolidat
(Expresse
Personne
Administ
Deprecia
Impairme
Operatin
Operating increase inimpacted t Human ResHR expensCorpBancaexplained Cwere offsethe amortintangible (administraincrease of
securities ptrading deri
nt number ofaccounting hed
ted Provisions f
ed in millions of Chil
cial, net of loan lo
ial mortgage, net
er, net of loan loss
visions for loan los
des provision for Co
from provision million in 3Q ith SMU risk th
the operation rporate loan p31 million (US$ust 2013; (ii) azation in the tr
ted Operating
ed in millions of Ch
el salaries and exp
trative expenses
ation and amortiza
ent
ng expenses
expenses incrn operating exthe entire fourt
sources expenses, most of it Colombia maCh$3,423 millioet by a reversaization of intaassets amortizative, fixed assf Ch$4,153 mil
ortfolio (tradinvatives compe
f derivatives adges.
for loan losses
lean pesos)
oss recoveries
of loan loss recove
s recoveries
sses
ntingent loans.
s for loan loss2013, due to phat totalled Ch$
in Chile, loan lprovision. Also $15.4 million) Yan increase ineatment of the
expenses
hilean pesos)
penses
ation
reased by Ch$xpenses was pth quarters an
ses increased t explained byaintained its leon of higher sal of Ch$3,911 angible assets zed in CorpBansets depreciatiolion.
ng and availabensate each oth
re client‐drive
s (for Commerc
eries
ses decreased previous quarte$6,000 million
oss provision eprovisions forYoY. Most of tn provisions ine commercial l
$23,125 millioprimarily the rd higher expen
by Ch$5,401 my higher bonusevel of expensalary expensesmillion of sevincrease by ca Colombia don, provisions
le for sale for Cher.
en or derivativ
cial and Retail
Qua
4Q13
(10.315) (2
(1.574)
(13.841) (1
311
(25.419) (3
by 28.4% QoQer higher reserapproximately
expenses increr loan losses ofthis increase rn the consumeloan portfolio.
Qua
4Q13
52,001 4
49,945 3
16,022 1
‐
117,968 9
n QoQ, or 24result of the cnses in CorpBa
million. Of thiss expenses. Inses, the accrus as well as Ch$verance paymeCh$3,999 milldue to Helm Bafor contingenc
Ch$1,338 milli
ves used in o
l loans) (1)
arter
3Q13 4Q
22.417) (4.3
769 2.
14.829) (10.6
990
35.487) (12.6
Q to Ch$25,419rves, particulay).
eased YoY by Cf CorpBanca inresults from: (ier loan portfo
arter
3Q13 4Q
46,600 39,
37,098 30,
11,145 7,
‐
94,843 76,
4.4% from Ch$consolidation onca Chile.
s figure, Ch$4,7n the case ofing of the full$501 million ofents that wereion, being 74ank acquisitioncies and assets
on) since exch
order to either
Q12 4Q13/4
366) 13
.409
662) 2
(1)
620) 10
9 million in 4Qrly for those lo
Ch$6,081 million Colombia regi) the incorporolio; and (iii) a
Q12 4Q13/4
,022 3
,057 6
,031 12
‐
,110 5
$94,843 millioof Helm Bank
791 million cothe Colombial quarter of Hf bonus expense adjusted in th4% of that incn. In addition, Hs in lieu of paym
Press RelFebruary 20,
Page 1
hange rate gain
r achieve econ
Change (%)
4Q12 4Q13/3Q
36,3% ‐54,0
‐
29,8% ‐6,7
‐ ‐68,6
01,4% ‐28,4
Q 2013 comparoans related to
on as a conseqgistered an incration of Helmadjustments fo
Change (%)
4Q12 4Q13/3Q
33.3% 11.6
66.2% 34.6
27.9% 43.8
‐
55.0% 24.4
on in 3Q 2013in 3Q 2013,
rresponds to Cn operations,
Helm Bank expses. Those exphe PPA. In addcrease explainHelm bank expments) explain
lease 2014 1 / 25
ns and
nomic
Q13
0%
‐
7%
6%
4%
red to o SMU
uence crease m Bank or the
Q13
6%
6%
8%
‐
4%
3. The which
Chile’s while
penses penses dition, ed by penses ned an
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III) Consoli Consolidat
(Express
Wholesa
Chile
C
F
L
Colom
C
F
L
Retail le
Chile
C
R
Colom
C
R
TOTAL L
Chile
Colom
(1) Contin
Our total lothe acquisibanking) wshifted to sof corporat Our wholeDuring theliquidity an Our retail due to the Consolidat
(Expresse
Trading i
Available
Held‐to‐m
Total Fin
Our investmcorrespondmargins. Tr
idated Assets a
ted Loan portfo
ed in millions of Ch
ale lending
Commercial loans
Foreign trade loan
Leasing and Factor
mbia
Commercial loans
Foreign trade loan
Leasing and Factor
nding
Consumer loans
Residential mortga
mbia
Consumer loans
Residential mortga
OANS
mbia
ngent loans under IF
oans increasedition of Helm Bwhich reflects tstrengthen andte loans perfor
esale lending i 3Q 2013 the nd an additiona
lending increaacquisition of
ted Securities P
ed in millions of Ch
nvestments
e‐for‐sale investme
maturity investme
nancial Investment
ment portfoliod to fixed incorading instrum
and liabilities
olio (1)
hilean pesos)
s
ring
s
ring
age loans
age loans
FRS are not conside
d by 28.8% or Bank. In Chile, he fact that wed enhance ourrmed during 3Q
ncreased 25.1bank sold Ch$al US$300 milli
sed 39.2% or Helm Bank in C
Portfolio
hilean pesos)
ents
ents
ts
o consists of trame securities
ments are stated
9
5
4
3
3
3
2
1
13
7
5
ered part of the Loa
Ch$2,925 billiowe have slowe consider ourr business relatQ and 4Q 2013
% or Ch$1,88$484.7 billion ion in 4Q 2013
Ch$1,037.4 biColombia.
1
ading, availableacquired to ged at fair value.
As of the three
Dec‐13
9,401,622 9,4
5,844,610 6,0
4,979,727 5,1
459,074 5
405,809 3
3,557,012 3,4
3,060,167 2,9
‐
496,845 4
3,684,043 3,4
2,064,003 1,9
522,513 4
1,541,490 1,4
1,620,040 1,5
1,157,227 1,0
462,813 4
3,085,665 12,9
7,908,613 8,0
5,177,052 4,9
an portfolio.
on YoY from Cwed the growthr presence in Ctionship with o3.
7.7 billion YoY(US$961 millio.
llion YoY and
As of the three
Dec‐13 S
431,683 45
889,087 66
237,522 20
1,558,292 1,32
e‐for‐sale and enerate gains f
e months ended
Sep‐13 De
454,372 7,513,
036,036 6,418,
131,859 5,564
514,409 424
389,768 428
418,336 1,095,
947,104 1,095
‐
471,232
496,260 2,646,
978,081 1,858,
498,581 476
479,500 1,382
518,179 787,
089,498 633
428,681 154
950,632 10,160,
014,117 8,277
936,515 1,883
Ch$10,161 billih rate in our loChile strong enour clients to i
Y and decreason) in corporat
increased 5.4%
e months ended
Sep‐13 Dec
56,334 159,
64,823 1,112,
05,790 104,
26,947 1,377,
held‐to‐maturfrom short‐ter
ec‐12 Dec‐13/
,969 2
,447 ‐
,788 ‐1
,824
,835 ‐
,522 22
,441 17
‐
81
,629 3
,717 1
,275
,442 1
,912 10
,457 8
,455 19
,598 2
,164 ‐
,434 17
ion to Ch$13,0oan portfolio (ough such thaimprove profit
sed 0.6% or Cte loans in Ch
% or Ch$187.8
c‐12 Dec‐13/
,898 17
,435 ‐2
,977 12
,310 1
rity securities. Trm price fluctu
Press RelFebruary 20,
Page 12
Change (%)
/Dec‐12 Dec13/Sep
5.1% ‐0.6
‐8.9% ‐3.2
10.5% ‐3.0
8.1% ‐10.8
‐5.4% 4.1
4.7% 4.1
79.4% 3.8
‐
‐ 5.4
9.2% 5.4
1.0% 4.3
9.7% 4.8
11.5% 4.2
05.6% 6.7
82.7% 6.2
99.6% 8.0
8.8% 1.0
‐4.5% ‐1.3
74.9% 4.9
086 billion refle(primarily whot our prioritiestability, and th
h$52.8 billion ile to strength
8 billion QoQ m
Change (%)
/Dec‐12 Dec‐13/Se
70.0% ‐5.4
20.1% 33.7
26.3% 15.4
13.1% 17.4
Trading instrumations or brok
lease 2014 2 / 25
p‐13
6%
2%
0%
8%
1%
1%
8%
‐
4%
4%
3%
8%
2%
7%
2%
0%
0%
3%
9%
ecting olesale s have e sale
QoQ. hen its
mainly
ep‐13
4%
7%
4%
4%
ments kerage
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Investmentfor‐sale. Wconsideredcosts. Instrmarket pricharged or Our total fCh$231.3 bresult of th Consolidat
(Expresse
Demand
Time dep
Investme
Mortgag
Bonds
Subordin
Interban
Foreign b
Our currenour genera On August outstandinaggregate BA to BC), an aggregafrom 20 to program, toutstandinobjective oprovides fothe local b(Ch$403,36Chilean maoutstandinthe aggreg On Novem2013, the R At the endEuropean emarkets, inassets (maGovernmeand deposamount of
t instruments We currently had available‐for‐ruments availaces or based or credited to eq
financial investbillion QoQ. Thhe incorporatio
ted Funding str
ed in millions of Ch
deposits
posits and saving a
ents sold under re
e finance bonds
nated bonds
k borrowings
borrowings
nt funding straal asset and liab
1, 2010, we ig. Under the amount of UFwith a maturitate amount of 35 years and athe amortizatig senior and sof the local boor diverse alterbond program64). In additionarket in the agg senior bondate amount of
mber 3, 2010, wReg S notes hav
d of 2011, globeconomies. Liqncluding in Chiainly consistingnt) of Ch$1,07its in banks inCh$174,612.0
are classified ve a small por‐sale. Investmeable‐for‐sale aon valuation mquity accounts
tments portfolhe YoY increaseon of Helm Ban
rategy
hilean pesos)
accounts
purchase agreeme
tegy is to use bility managem
mplemented alocal bond pro100 million, wty ranging fromUF50 million, wan interest rateon of capital ubordinated bond program rnatives of plam, in 2010, wen, on October ggregate amouds in the aggref Ch$752.5 billi
we issued US$ve been paid o
bal financial mquidity was coile. Despite sug of securities74,743 million.n the amount million.
in two categortfolio of held‐tent instrument each subseq
models. Unreal.
lio decreased e reflects a 170nk.
3
7
ents
1
1
all sources ofment strategy.
a local bond pogram, we arehich can be di
m 3 to 30 yearswhich can be de of 4%. For alwill be made
bonds is due atis to structurecements in orde issued bond29, 2012 and unt of UF6.6 megate amount on.
$178.1 million off.
arkets faced aonstrained andch circumstans issued by th In addition, aof Ch$571.9 b
ries: held‐to‐mto‐maturity invts are initially quent period‐eized gains or l
by 13.1% or C0.0% raise in o
As of the three
Sep‐13 J
3,451,383 3,30
7,337,703 7,33
342,445 35
118,489 12
1,521,952 1,56
774,116 75
16,807 1
1,273,840 1,26
f funding in ac
rogram for a m able to issue vided into 28 s and an interedivided into 16l the series of in full at mat maturity and e the future ider to manageds in the ChilOctober 31, 2million (Ch$14of Ch$1,413.2
in Reg S note
a complex scend risk premiumces, as of Marhe Central Banas of March 31billion to satis
maturity investvestments. All recognized at
end are valuedosses arising f
Ch$181.0 billioour trading inv
e months ended
Jun‐13 Sep
02,652 1,112,
35,835 7,682,
50,489 257,
26,872 147,
64,380 1,044,
57,378 694,
16,243 18,
62,484 969,
ccordance with
maximum amotwo types of series of seniost rate of 3%, 6 series (from Bbonds that couaturity. The printerest relatiissuances of de efficiently its ean market in2012, we issued49,779 million)2billion and ou
es in the intern
nario in terms ms reached yerch 31, 2013, wnk of Chile an1, 2013, we msfy our wholes
tments and insother investmt cost, which id at their fair from changes
on YoY and incvestments, whi
p‐12 13/Se
,675 21
,675 ‐
,721 3
,688 ‐1
,124 4
,792 1
,120 ‐
,521 3
h their costs, t
ount of UF150bonds: (i) senor bonds (fromand (ii) subordBD to BS), withuld be issued urincipal owed ing thereto is ddebt of CorpBoutstanding inn the amountd subordinate. As of Marchutstanding sub
national mark
of liquidity duearly highs in pwe maintainednd Treasury Baintained suffsale short‐term
Press RelFebruary 20,
Page 13
struments avaiment instrumenincludes transavalue accordin the fair valu
creased by 17.ich are primari
Change (%)
Sep‐ep‐12
Se13/Jun‐
10.2% 4.5
‐4.5% 0.0
32.9% ‐2.3
19.8% ‐6.6
45.8% ‐2.7
11.4% 2.2
‐7.2% 3.5
31.4% 0.9
their availabilit
million at anynior bonds, up m AB to AZ anddinated bonds,h a maturity raunder the localin connectiondue bi‐annuallyanca in a wayndebtedness. Ut of UF18.8 md bonds in the 31, 2013, webordinated bon
et. As of Marc
ue to uncertaipractically all gd a reserve in onds of Colomficient levels ofm obligations
lease 2014 3 / 25
ilable‐nts are action ing to ue are
4% or ily the
ep‐‐12
5%
0%
3%
6%
7%
2%
5%
9%
ty and
y time to an
d from up to anging l bond n with y. The y that Under million e local e have nds in
ch 31,
nty in global liquid mbia’s f cash in the
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On July 24term loan Fargo Secu During 20strengthenas a sourcJanuary 16CorpBancawith our clto be less increase on Consolidat As of Decebillion and shares durCh$2,467.62013. (i) On Janu10,680,200outside of connectionmember oCorpBancade Inversiocapital in tconnectioncommon sh The recentin the equi IV) Other R CorpBancaOn Januaryminority shrights), its s CorpBancaTransactionColombia,
1 Shareholder
4, 2012, we hafacility with S
urities, LLC, as l
13 CorpBancan its ability to re of funds. Th6, 2013, the b has been groients and imprdependent onn our cost of fu
ted Shareholde
ember 31, 201US$2,681.1 biring 1Q 2013,6 billion and US
ary 18, 2013, w0,621 commonChile; (ii) on F
n with the inveof the World B, or the IFC Invones Saga Ltdahe aggregate an with the authares.
t acquisition ofty base during
Related Inform
a Colombia cony 23, 2014, Corhareholders of stake in Helm
a Agrees to Men results in a Peru, and Cent
rs’ equity = Equity
ave entered intStandard Chartead arrangers
a deepened itreact to fundinhus, taking adbank issued wing at a slowrove our profitn institutional unding during 3
ers’ Equity
3, CorpBanca illion as of Dec we have 340S$4,687.6 billio
we raised capin shares, includFebruary 7, 20estment by ceBank Group, avestment, pursa., and CorpGramount of Ch$thorization by
f Helm Bank in the third quar
mation
ncludes tenderrpBanca ColomHelm Bank whBank’s owners
erge with Itaú leading bank
tral America
excluding net inco
to a US$174.4tered Bank, asand book‐runn
ts strategic obng liquidity riskvantage of thUS$800 millio
wer pace than ability, this issinvestors. Th3Q 2013.
was the fourtcember 31, 200,358,194.2 thon (based on a
ital in the aggrding common s013, we raisedertain investmeand IFC Asset suant to an invroup Inversion$120,927.7 miy the Board of
n Colombia detrter 2013.
r offer process mbia announceho held Helm Bship increased
in Chile and toking platform
ome and provision
4 million amens administrativners, and Com
bjective of divk events and loe process of ion aggregate in previous peuance has allois strategy allo
h largest priva13). After a cahousand sharea share price o
regate amountshares in the fod capital in theent funds of tManagement
vestment agreees Bancarias Lllion during a f Directors on
termined an e
to minority shd that after coBank preferredfrom 87.4% to
o Combine Busfor future exp
s for mandatory d
nded and restave agent, HSB
mmerzbank Akt
versifying its ower market rissuing shares principal amoeriods in orderwed us to reduowed the ban
ate bank in Chpital increase es outstandingf Ch$7.250 pe
t of Ch$66,751orm of ADSs, ine aggregate amhe Internationt Company toement with CoLtda.; and (iii)preemptive rign November 2
equity revaluat
hareholders ofoncluding the ted stock (preferro 99.4%.
sinesses in Colopansion in La
dividends.
ated senior unC Securities (Uiengesellschaf
sources of fuelevance of in on the internount of 3.125%r to enhance buce deposits ank to partly of
hile, based on totalling 47,00g and a marksos per share)
1.2 million thron the United Stmount of Ch$1nal Finance Co acquire a 5%orpGroup, Comon February 1ghts offering u27, 2012 to iss
tion, reflected
f Helm Bank ender offer prred dividend w
ombia: tin America, s
Press RelFebruary 20,
Page 14
nsecured syndiUSA) Inc. and ft, as lead arran
unding, in ordstitutional invenational marke% Senior Notebusiness relationd at the sameffset the temp
equity1 (Ch$1,00,000,000 comket capitalizati as of Decemb
ough the issuantates and elsew106,361.9 millorporation, or % equity intermpañía Inmobil14, 2013, we under Chilean sue 47,000,00
in an 8.2% inc
ocess to the with no voting
specifically in
lease 2014 4 / 25
icated Wells nger.
der to estors et, on es. As onship e time porary
,411.3 mmon ion of ber 31,
nce of where ion in IFC, a est in iaria y raised law in 00,000
crease
Chile,
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On Januarythey entereThe transaUnibanco abanking pla Following tChilean Bashareholdeamong oth This transaStates regu If approvedCorpBancaItaú Unibanrequired apfollowing t CorpBancaof Banco Itstake of thacquire and Key corporDirectors adirectors adirectors. Cappoint Mr The Chief ECEO of ItaúFernando MmanagemeManageme As a result
‐ Comb
‐ Greatfrom
‐ Oppo
‐ Ability
‐ Comb
‐ Susta
The transastructures;systems; (i The new Chbillion in lo
y 29, 2014, Cored into a definction will creatand CorpBancaatform.
the closing of tnk with a 33.58ers’ agreementhers. The new C
action is subjeculators and also
d, CorpBanca’s and Itaú Chilenco will make approvals by thehe receipt of a
will be the suaú Chile in exce Chilean Bankd control 100%
rate governancand senior mannd 2 alternateCorpGroup wilr. Jorge Andrés
Executive Officú Chile, is expeMassú, currentent members went and Talent
of the partner
bined franchise
ter market shaCorpBanca Co
rtunity to part
y to leverage It
bined entity ha
inable dividen
ction enables t (ii) savings dev) the improve
hilean Bank is oans and US$27
rpBanca, CorpGitive agreemente a new Chileaa will combine
the transaction8% ownership t to determine Chilean Bank w
ct to regulatoryo subject to Ba
s current sharee while Itaú Una US$652 millie end of the foall required reg
rviving entity. change for 172k immediately % of Itaú Colom
ce terms to be nagement teamdirectors, whil be entitled tos Saieh to serve
er of the new cted to be appt CEO of CorpBwill be appointCommittee.
rship, the new
e will have a gr
re in Chile by glombia and He
tner with a pre
taú Unibanco´s
s the potentia
d flow support
the creation ofrived from enhement in cost o
expected to be7 billion in dep
Group (CorpBant to merge Coan Bank that wtheir banking
n, Itaú Unibancinterest. Additaspects relate
will control Cor
y approvals froanco Itaú Chile
eholders will owibanco will owon equity infusourth quarter ogulatory approv
Under the mer,048MM newlfollowing the cmbia.
included in thems. The Board oile the Board oo appoint the Ce as Chairman
Chilean Bank wpointed as CEOBanca, will becoed by the Boar
Chilean Bank w
eater scale and
gross loans witelm Bank);
mier Latin Am
s strong global
l to generate s
ted by greater
f additional synhanced branchof funding; and
e the fourth larposits. With thi
anca´s holding corpBanca and Bwill operate undbusinesses in C
co will be the ctionally, at closed to corporatepBanca´s and I
om the Brazilian’s and CorpBan
wn 66.42% of twn the remaininsion into Itaú Cof 2014. CorpBvals.
rger agreemeny issued shareclosing. Follow
e shareholdersof Directors ofof Directors of tChairman of thof the new Bo
will be appointO of the new Chome a memberd of Directors
will enjoy seve
d resources to
h approximate
erican franchis
l client relation
significant syne
scale and earn
nergies through network; (iii)d (v) the ability
rgest private bis greater scale
company) andBanco Itaú Chider the Itaú naChile and Colom
controlling sharsing, Itaú Unibe governance, Itaú Unibanco´
n, Colombian, nca’s sharehol
the bank resultng 33.58%. PrioChile. ManagemBanca anticipat
nt, Itaú Unibans in CorpBanca
wing the closing
s’ agreement af the new Chilethe Colombiane Board of direoard of Directo
ted by Itaú Unihilean Bank effr of the new B following reco
eral benefits, in
compete mor
ely 12.4% mark
se;
nships;
ergies in Chile;
nings capability
gh: (i) synergiesrelevant saviny to further leve
bank in Chile we, the institutio
d Itaú Unibancole in a stock‐foame. Through mbia to create
reholder of thebanco and Corptransfer of sha´s Colombian s
Chilean, Panamders’ approval
ting from the mor to the closinment expects tte that closing
nco will exchana, representingg, the new Chil
are related to tean Bank will bn bank will be cectors. CorpGrors in Chile as o
banco. Mr. Bofective as of thBoard of Directoommendation
ncluding:
re effectively;
ket share (excl
and
y of the combi
s related to opgs derived fromerage Tier I Ca
ith US$43 billioon will be able
Press RelFebruary 20,
Page 15
o announce thaor‐stock transathis merger, It
e an Andean
e new merged pGroup will sigares and liquidsubsidiaries.
manian and Unl.
merger of ng of the mergto receive all will occur sho
ge all of the shg a 33.58% direlean Bank will
the Board of be comprised ocomprised of 9roup expects toof the closing.
ris Buvinic, curhe closing. Mr. ors. Other senof the
uding gross loa
ned enterprise
timization of cm scalable IT pital.
on in assets, Uto exploit vari
lease 2014 5 / 25
at ction. taú
n a ity
nited
ger,
rtly
hares ect
of 11 9 o
rrent
ior
ans
e.
cost
S$33 ous
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cross‐sellinstrengthenmerger. As a result as well as a About ItaúItaú Unibanwith a univoutside Bratrack recor Banco Itaú Chilean submarket sharetail bankin the highstrengthen72 ATMs. V) Owners Ownership As of DeceMr. Alvaro
ng opportunitiened by the US$
of this mergera more extensi
ú Unibanco nco is the largeversal product azil includes bard of delivering
Unibanco entebsidiary is the are by loans aning, commerci‐income segmened its presenc
hip structure a
p structure
ember 31, 2013Saieh and his
Sto
To
IFC
Sie
Ot
To
* Sl
** I
es and access f652 million ca
r, customers ove branch netw
est private banoffering and manking operatiog consistently s
ered the Chilealargest outsidend 6th largest byal banking, gloent (ABC1). In e in the high‐in
and share perf
3, CorpBanca wfamily:
ock Holder
Corp Group Ban
Cía. Inmob. y de
Cía. de Seguros
Cía. de Seguros
Other investme
otal Saieh Group
C
erra Nevada Inves
thers
ADRs holders an
AFPs (Administr
Securities Broke
Insurance Comp
Other minority
otal
Since November 2longer controlled b
Includes Moneda's
funding at lowepital increase t
f all entities inwork (217 bran
nk in Latin Amemarket‐leading ons in Argentinstrong financia
an market withe of Brazil. In Cy total depositobal corporate 2011, Itaú Chincome segmen
formance
was controlled
nking S.A.
e Inversiones Saga
CorpVida S.A.
CorpSeguros S.A.
ent companies
stment Chile Dos L
nd Foreign investo
radoras de Fondos
erage
panies*
shareholders**
2013, includes Coby the Saieh Group
s funds with a tota
er cost. Capitathat Itaú Uniba
volved will havnches in Chile a
erica and one opresence in Brna, Chile, Coloml results and o
h the acquisitiohile, Itaú is thets with also a 4banking, and tle acquired HSnt. Its distribut
d by Corp Grou
a S.A.
Ltda. (Santo Domi
ors
s de Pensiones)
orpVida and Corpp.
al of 3.41% owners
l soundness ofanco will inject
ve access to a and 172 branc
of the largest brazil. Itaú Unibmbia, Paraguayutstanding RO
on of BankBoste 7th largest pr4.9% market shtreasury busineSBC’s premiumtion network is
up Banking S.A
S
ingo Group)
pSeguros (3.02%)
ship.
f the new bankt into Itaú Chile
greater array ches in Colomb
banks in the wobanco’s Latin Ay and Uruguay
OEs.
ton’s operatioivately owned hare. Banco Itaesses and has banking operas comprised of
A. and other co
% of Total Share Capital
45.2593%
5.4640%
‐
‐
0.6526%
51.3760%
5.0000%
2.8843%
40.7397%
16.2116
1.5237%
8.7821%
4.1109%
10.1115%
100.0000%
which are no
Press RelFebruary 20,
Page 16
k will be e prior to the
of product offbia).
orld by marketAmerican footpy. The entity ha
ns in 2007. Its bank with a 4.ú Chile operata leading presations in Chile f 94 branches a
ompanies relat
lease 2014 6 / 25
erings
t cap print as a
.9% es in ence and and
ted to
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ADR price e
26/12/2008
26/02/2009
CorpBa(Base 100
evolution and
26/04/2009
26/06/2009
26/08/2009
26/10/2009
26/12/2009
anca ADR= 12/26/2008)
local share pr
12/31/2
Maximu
Minimum
10/30/2
Maximu
Minimum
6.6
Sa
Average
//
26/02/2010
26/04/2010
26/06/2010
26/08/2010
26/10/2010
rice evolution
013
m (LTM)
m (LTM)
Loc
013
m (LTM)
m (LTM)
64
ntiago
daily traded volu
(
26/10/2010
26/12/2010
26/02/2011
26/04/2011
26/06/2011
ADR Price
U
U
U
cal Share Price
1.15
NY
umes 12 months 2013
(US$ millions)
26/08/2011
26/10/2011
26/12/2011
26/02/2012
26/04/2012
US$21.15
US$22.19
US$13.75
Ch$7.250
Ch$7.47
Ch$4.73
7.79
Total
ended Decembe
//
26/06/2012
26/08/2012
26/10/2012
26/12/2012
26/02/2013
er 31,
26/02/2013
26/04/2013
26/06/2013
26/08/2013
26/10/2013
BC
Press RelFebruary 20,
Page 17
330.7826/12/2013
CA
lease 2014 7 / 25
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Dividends The follow
VI) Credit r Internation On a globStandard &
26/12/2008
CorpB(Base 1
ing table show
Charged toFiscal Year
2008
2009
2010
2011
2012
risk ratings
nal credit risk r
al scale, the b& Poor´s Rating
26/02/2009
26/04/2009
26/06/2009
26/08/2009
26/10/2009
Banca vs IPSA100 = 12/26/2008)
Market
P/E (LTM
P/BV (12
Dividend
* Based oannoun
ws dividends pe
o r
Year paid
2009
2010
2011
2012
2013
ratings
bank is rated gs Services (S&
26/10/2009
26/12/2009
26/02/2010
26/04/2010
26/06/2010
//
A Index)
capitalization
M)
2/30/2013)
d yield*
on closing price onced.
er share distrib
d Net Incom(Ch$mn
56,310
85,109
119,043
122,849
120,080
by two worldP).
26/08/2010
26/10/2010
26/12/2010
26/02/2011
26/04/2011
US$4
on the day the div
uted during th
me )
% Distribu
0 100%
9 100%
3 100%
9 100%
0 50%
d‐wide recogn
26/06/2011
26/08/2011
26/10/2011
26/12/2011
26/02/2012
4,688 million
15.91
1.44
2.5%
vidend payment w
he past five yea
uted DistribuIncom(Ch$m
% 56,31
% 85,10
% 119,04
% 122,84
60,04
nized agencies
26/02/2012
26/04/2012
26/06/2012
26/08/2012
26/10/2012
was
ars:
uted me mn)
Pesos pe(Ch$ of
yea
10 0.2545
09 0.37508
43 0.5246
49 0.49069
40 0.17640
s: Moody´s Inv
26/12/2012
26/02/2013
26/04/2013
26/06/2013
26/08/2013
CORPB
IPSA
Press RelFebruary 20,
Page 18
er Share f each ar)
25860
82130
28030
94036
02388
vestors Servic
237.10
157.66
26/10/2013
26/12/2013
BANCA
lease 2014 8 / 25
e and
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On January'review for'review foron CorpBan
On Januarymerger agrratings of Cand the namay receiv
Local Credi On a natioCredit Rati On Januarannouncemsuccessful both local a
On Februa'Nivel 1+' ooutlook to to regulato
y 31, 2014, Mr downgrade', r upgrade', Monca’s funding f
y 30, 2014, Stareement with ICorpBanca andature and strenve.
it risk ratings
nal scale, the ng Chile (ICR) a
ry 30, 2014, Fment. The Outin the integratand regional, a
ry 4, 2014, ICRon short term'Developing' fory and shareh
oody´s Investoon the long anoody’s noted thflexibility, marg
Moody´s
Long‐term foreShort‐term ffoBank financial Outlook
andard & PooItaú Chile. The d S&P’s assessngth of extern
Standard & Po
Long‐term issuShort‐term issuCreditWatch
bank is rated and by Humph
Feller Rate afflook was conftion process anand (ii) significa
Feller Rate
Long‐term issuSenior unsecurSubordinated bShort‐term issuShares Outlook
R affirmed Corm deposits androm 'Negativeolders’ approv
ICR
Long‐term issuSenior unsecurSubordinated bShort‐term issuShares Outlook
ors Service chand short term he benefits a cgins, and capit
eign currency deporeign currency destrength
r´s Ratings Sercreditwatch dsment of Itaú‐al support (eit
oor´s
uer credit rating uer credit rating
by Feller Rate reys.
firmed the rairmed in 'Stabnd that the newant synergies i
uer credit rating red bondsbondsuer credit rating
pBanca’s 'AA' d 'Primera Clas' reflecting thaval.
uer credit rating red bondsbondsuer credit rating
anged the ratinratings of Corpchange of contal.
osits posits
rvices placed Cdeveloping listiCorpBanca’s cther from gove
–a Strategic A
tings on Corple' reflecting Fw bank will ben the medium
ratings on lonse Nivel 1' ratat the merger b
ng review direpBanca. On plarol with respe
Rating
Baa3Prime‐3
D+Review for up
CorpBanca 'BBng reflect the capital, busineernment or gr
Rating
BBBA‐2
Developi
Affiliate of Sta
pBanca on meFeller Rate’s asnefit from (i) aterm.
Rating
AA AAAA‐
Nivel 1+1ª Clase Niv
Stable
g term debt, 'ting on sharesbetween CorpB
Rating
AA AAAA‐
Nivel 1+1ª Clase NivDevelopi
ection to 'possacing the ratinct to the merg
g
3
pgrade
BB/A‐2' on 'Wapotential impaess position, furoup support) t
g
ng
ndard & Poor´
erger agreemessessment thata strengthen co
g
+vel 1
AA‐' rating on s. At the sameBanca and Itaú
g
+vel 1ng
Press RelFebruary 20,
Page 19
sible upgrade',ngs of CorpBanged bank could
atch Developinact of merger ounding and liquthat this new
´s–, by Interna
ent with Itaú t both banks wompetitive pos
subordinatede time changeú Chile is still su
lease 2014 9 / 25
, from nca on d have
ng' on on the uidity, entity
ational
Chile will be sition,
debt, ed the ubject
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In August 2term depo'Developin
21, 2013, Humosit and in 'A+'g' on merger a
mphreys affirme long term suannouncement
Humphreys
Long‐term issuSenior unsecurSubordinated bShort‐term issuShares Outlook
ed in 'AA‐' lonbordinated det between Corp
uer credit rating red bondsbondsuer credit rating
g term deposiebt. At the sampBanca and Ita
t and senior ume time changaú Chile.
Rating
AA‐ AA‐A+
Nivel 1+1ª Clase Niv
Positive
unsecured debged the outloo
g
+vel 1e
Press RelFebruary 20,
Page 20
t, in 'Nivel 1+'ok to 'Positive'
lease 2014 0 / 25
short ' from
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VII) Quarte
Interest incom
Interest expe
Net interest i
Fee and comm
Fee and comm
Net fee and c
Net income fr
Foreign excha
Total financia
Other operati
Net operating
Provision for
Net operating
Personnel sal
Administrativ
Depreciation
Impairment
Operating ex
Other operati
Total operatin
Operating inc
Income from
Income befor
Income tax ex
Net income fr
Net income fr
Net income a
Minority inter
Net income a
(1) Includes
erly Consolidat
me
nse
ncome
mission income
mission expense
commission incom
rom financial oper
ange profit (loss), n
al transactions, ne
ing income
g profit before loa
loan losses (1)
g profit
aries and expense
ve expenses
and amortization
penses
ing expenses
ng expenses
come
investments in oth
re taxes
xpense
rom ordinary activ
rom discontinued
attributable to:
rest
attributable to sha
s Provision for Conti
ted Income Sta
me
rations
net
et
an losses
es
her companies
vities
operations
areholders
ingent loans and ne
atements (una
Dec‐13
US$ths
574,871
(294,442)
280,430
90,126
(15,378)
74,748
82,852
(34,574)
48,278
56,959
460,415
(48,517)
411,898
(98,784)
(94,879)
(30,436)
‐
(224,099)
(19,806)
(243,905)
167,993
399
168,392
(54,893)
113,499
‐
(10,190)
103,309
et of loan loss recov
audited)
For the three mo
Dec‐13
302,618
(154,997)
147,621
47,443
(8,095)
39,348
43,614
(18,200)
25,414
29,984
242,367
(25,540)
216,827
(52,001)
(49,945)
(16,022)
‐
(117,968)
(10,426)
(128,394)
88,433
210
88,643
(28,896)
59,747
‐
(5,364)
54,383
veries.
onths ended
Sep‐13
Ch$mn
296,216
(157,910)
138,306
38,522
(7,475)
31,047
9,619
(2,468)
7,151
3,769
180,273
(34,894)
145,379
(46,600)
(37,098)
(11,145)
‐
(94,843)
(5,418)
(100,261)
45,118
(1)
45,117
(10,987)
34,130
‐
(5,976)
28,154
Dec‐12
251,874
(164,003)
87,871
34,288
(6,525)
27,763
16,510
5,347
21,857
3,106
140,597
(11,328)
129,269
(39,022)
(30,057)
(7,031)
‐
(76,110)
(5,314)
(81,424)
47,845
440
48,285
(10,864)
37,421
‐
(356)
37,065
Press RelFebruary 20,
Page 2
Change (%
Dec13/Dec12 Dec
20.1%
‐5.5%
68.0%
38.4%
24.1%
41.7%
164.2%
‐
16.3%
865.4%
72.4%
125.5%
67.7%
33.3%
66.2%
127.9%
‐
55.0%
96.2%
57.7%
84.8%
‐52.3%
83.6%
166.0%
59.7%
‐
1406.7%
46.7%
lease 2014 1 / 25
%)
13/Sep13
2.2%
‐1.8%
6.7%
23.2%
8.3%
26.7%
353.4%
637.4%
255.4%
695.5%
34.4%
‐26.8%
49.1%
11.6%
34.6%
43.8%
‐
24.4%
92.4%
28.1%
96.0%
‐
96.5%
163.0%
75.1%
‐
‐10.2%
93.2%
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VIII) Yearly
Interest
Interest
Net inte
Fee and
Fee and
Net fee
Net inco
Foreign
Total fin
Other o
Net ope
Provisio
Net ope
Personn
Adminis
Depreci
Impairm
Operati
Other o
Total op
Operati
Income compan
Income
Income
Net inco
Net incooperatio
Net inco
MinoritNet incoshareho
(1)
y Consolidate
t income
t expense
erest income
d commission inco
d commission expe
and commission
ome from financia
exchange profit (
nancial transactio
operating income
erating profit befo
on for loan losses
erating profit
nel salaries and ex
strative expenses
ation and amortiz
ment
ing expenses
operating expenses
perating expenses
ing income
from investmentsnies
before taxes
tax expense
ome from ordinar
ome from discontons
ome attributable
y interest ome attributable olders
) Includes Provision
ed Income St
me
ense
income
al operations
loss), net
ons, net
ore loan losses
(1)
penses
zation
s
s in other
ry activities
tinued
to:
to
for Contingent loa
atements (un
YTD
dec‐13
US$ths
1,913,159
(1,043,704)
869,455
275,027
(50,911)
224,116
192,411
(26,417)
165,994
77,651
1,337,216
(192,576)
1,144,640
(313,461)
(265,219)
(80,333)
‐
(659,013)
(47,757)
(706,770)
437,870
2,357
440,227
(121,255)
318,972
‐
(24,348)
294,624
ns and net of loans
naudited)
dec‐13
1,007,106
(549,416) (5
457,690
144,777
(26,800)
117,977
101,287
(13,906)
87,381
40,876
703,924
0,0%
(101,374)
602,550
(165,009) (1
(139,614)
(42,288)
‐
(346,911) (2
(25,140)
(372,051) (2
230,499
1,241
231,740
(63,830)
167,910
‐
(12,817)
155,093
loss recoveries.
For the year ende
YTD
dec‐12 dec
Ch$mn
762,992 528,
506,116) (335,6
256,876 193,
105,178 72,
(19,534) (12,0
85,644 60,
54,994 97,
30,696 (26,7
85,690 70,
18,527 9,
446,737 333,
(50,864) (40,1
395,873 293,
120,714) (76,4
(88,783) (55,1
(18,092) (7,4
‐
227,589) (139,0
(25,649) (9,6
253,238) (148,7
142,635 144,
367
143,002 145,
(22,871) (24,1
120,131 121,
‐
(51) (1,8
120,080 122,
ed
c‐11 dec‐10
,622 387,639
622) (163,229)
,000 224,410
,404 68,453
042) (10,232)
,362 58,221
,745 (9,410)
783) 44,611
,962 35,201
,507 8,832
,831 326,664
182) (51,187)
,649 275,477
461) (71,034)
141) (46,793)
461) (7,117)
‐ (427)
063) (125,371)
667) (12,701)
730) (138,072)
,919 137,405
250 296
,169 137,701
144) (19,635)
,025 118,066
‐ ‐
824) (977)
,849 119,043
Press RelFebruary 20,
Page 22
Change (%
dec‐13/dec‐1
32.0%
8.6%
78.2%
37.6%
37.2%
37.8%
84.2%
2.0%
120.6%
57.6%
99.3%
52.2%
36.7%
57.3%
133.7%
52.4%
‐2.0%
46.9%
61.6%
238.1%
62.1%
179.1%
39.8%
29.2%
lease 2014 2 / 25
%)
12
%
%
%
%
%
%
%
‐
%
%
%
%
%
%
%
%
‐
%
%
%
%
%
%
%
%
‐
‐
%
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IX) Consol
Assets
Cash and depos
Unsettled transa
Trading investm
Available‐for‐sa
Held‐to‐maturit
Investments und
Financial deriva
Interbank loans
Loans and accou
Loan loss allowaLoans and acconet of loan loss
Investments in o
Intangible asset
Property, plant
Current taxes
Deferred taxes
Other assets
Total Assets
Liabilities
Deposits and ot
Unsettled transa
Investments sol
Time deposits a
Financial deriva
Interbank borro
Issued debt inst
Other financial l
Current taxes
Deferred taxes
Provisions
Other liabilities
Total Liabilities
Equity
Capital
Reserves
Valuation adjust
Retained Earnin
Retained earnin
Income for the p
Minus: Provision
Attributable to
Non‐controlling
Total Equity
Total equity and
lidated Balan
its in banks
actions
ments
le investments
ty investments
der resale agreem
tives contracts
, net
unts receivable fro
ances ounts receivable allowances
other companies
ts
and equipment
her demand liabil
actions
d under repurchas
nd other time liab
tives contracts
owings
truments
liabilities
tment
ngs:
ngs or prior period
period
n for mandatory d
bank shareholders
interest
d liabilities
nce Sheet (un
ments
om customers
from customers,
ities
se agreements
bilities
s
dividend
s
audited)
Dec‐13
US$ths
1,730,757
214,196
820,051
1,688,963
451,211
383,095
714,804
414,019
24,858,308
(584,864)
24,273,447
29,378
1,589,867
186,626
‐
176,539
552,189
33,225,142
6,556,454
108,949
650,529
13,939,141
534,912
2,419,863
4,586,837
31,928
85,785
340,926
355,628
352,400
29,963,352
1,484,696
979,499
(44,494)
114,056
294,624
(147,313)
2,681,068
580,722
3,261,790
33,225,142
As of the three m
Dec‐13
911,088
112,755
431,683
889,087
237,522
201,665
376,280
217,944
13,085,662
(307,878)
12,777,785
15,465
836,922
98,242
‐
92,932
290,678
17,490,047
3,451,383
57,352
342,445
7,337,703
281,583
1,273,840
2,414,557
16,807
45,158
179,467
187,206
185,507
15,773,008
781,559
515,618
(23,422)
60,040
155,093
(77,547)
1,411,341
305,698
1,717,039
17,490,047
months ended
Sep‐13
Ch$mn
720,953
262,876
456,334
664,823
205,790
163,676
321,248
668,576
12,950,630 1
(304,048)
12,646,583
12,551
864,608
94,547
‐
65,946
227,254
17,375,764 1
3,302,652
217,760
350,489
7,335,835
224,615
1,262,484
2,448,630
16,243
38,275
190,974
154,473
97,419
15,639,849 1
781,559
515,702
(49,000)
60,040
100,710
(50,355)
1,358,656
377,259
1,735,915
17,375,764 1
Dec‐12
520,228
123,777
159,898
1,112,435
104,977
21,313
268,027
482,371
10,160,597
(166,707)
9,993,891
5,793
481,682
65,086
‐
40,197
148,549
13,528,223
1,112,675
68,883
257,721
7,682,675
193,844
969,521
1,886,604
18,120
9,057
117,753
139,850
75,205
12,531,908
638,234
275,552
(31,881)
‐
120,080
(60,040)
941,945
54,370
996,315
13,528,223
Press RelFebruary 20,
Page 23
Change (%
Dec‐13/Sep‐12 Dec
75.1%
‐8.9%
170.0%
‐20.1%
126.3%
846.2%
40.4%
‐54.8%
28.8%
84.7%
27.9%
167.0%
73.7%
50.9%
‐
131.2%
95.7%
29.3%
210.2%
‐16.7%
32.9%
‐4.5%
45.3%
31.4%
28.0%
‐7.2%
398.6%
52.4%
33.9%
146.7%
25.9%
22.5%
87.1%
‐26.5%
‐
29.2%
29.2%
49.8%
462.3%
72.3%
29.3%
lease 2014 3 / 25
%)
c‐13/Sep‐13
26.4%
‐57.1%
‐5.4%
33.7%
15.4%
23.2%
17.1%
‐67.4%
1.0%
1.3%
1.0%
23.2%
‐3.2%
3.9%
‐
40.9%
27.9%
0.7%
4.5%
‐73.7%
‐2.3%
0.0%
25.4%
0.9%
‐1.4%
3.5%
18.0%
‐6.0%
21.2%
90.4%
0.9%
0.0%
0.0%
‐52.2%
0.0%
54.0%
54.0%
3.9%
‐19.0%
‐1.1%
0.7%
![Page 24: CorpBanc a Anno uncesmedia.capitallink.com/press/2013_Q4_Earnings_Release.pdf · Santiago, C offering a w for the fo statements convenienc our interna has been o (“SBIF”). Financi](https://reader034.vdocuments.us/reader034/viewer/2022052009/601f19348dc22b55044c5b8d/html5/thumbnails/24.jpg)
C
T
B
S
S
A
R
P
PPb
P
P
C
N
C
PNaNtNi
RRe
R
R
R
R
E
O
O
O
MDpDp
D
D
T
P
Q
X) Quarte
Capitalization
TIER I (Core capita
BIS Ratio(4)
Shareholders' equ
Shareholders' equ
Asset quality
Risk Index (Loan lo
Prov. for loan loss
Prov. for loan lossProv. for loan lossbefore loans losse
Prov. for loan loss
PDL / Total loans(5
Coverage PDL´s
NPL / Total loans(6
Coverage NPL´s
Profitability Net interest incomassets
(1)(2) (NIM)
Net operating prototal assets
(1)
Net operating prointerest‐earning a
RoAA (before taxeRoAA (before taxeearning assets
(1)(2)
RoAE (before taxe
RoAA, over Avg. to
RoAA, over Avg. in
RoAE(1)(3)
Efficiency
Operating expense
Operating expense
Operating expense
Market informatioDiluted Earnings pper share) Diluted Earnings pper ADR)
Diluted Earnings p
Diluted Earnings p
Total Shares Outst
Peso exchange rat
Quarterly UF varia
(1) Annualize(2) Interest‐e
rly Consolida
al) Ratio(4)
uity / Total assets
uity / Total liabilitie
oss allowances / T
es / Avg. total loa
es / Avg. total asses / Net operatinges
es / Net income 5)
6)
me / Avg. interest‐
fit before loan los
fit before loan losssets
(1)(2)
es), over Avg. totales), over Avg. inter
es)(1)(3)
otal assets(1)
nterest‐earning as
es / Avg. total asse
es/ Avg. total loan
es / Operating rev
on (period‐end) per share before ta
per ADR before tax
per share (Ch$ per
per ADR (US$ per A
tanding (Thousand
te for US$1.0
ation
ed figures when appearning assets: Tota
(3) Equity: Averag(4) During the sec(5) PDL: Past due(6) NPL: Non‐perf
ated Evolutio
M
es
otal loans )
ns(1)
ets(1)
g profit
2
9
earning
ses / Avg.
ses / Avg.
l assets(1)
rest‐
sets(1)(2)
ets(1)
ns(1)
venues
axes (Ch$
xes (US$
share)
ADR)
ds)(4) 250,35
propriate. al loans and financige equity attributabcond and first quarte loans; all installmeforming loans; full b
n Selected Pe
Mar‐12 Jun‐
8.14% 8.02
12.41% 10.83
6.98% 7.40
7.50% 8.00
1.51% 1.69
0.76% 0.4
0.58% 0.30
15.4% 8.9
57.6% 30.9
0.66% 0.62
230.5% 271.4
1.56% 1.28
99.27% 134.6
2.93% 2.12
3.75% 3.4
4.28% 4.0
1.21% 1.23
1.37% 1.45
18.4% 18.3
1.01% 0.98
1.15% 1.15
14.66% 14.06
1.78% 1.7
2.33% 2.3
47.3% 50.2
0.1103 0.11
0.3384 0.35
0.0941 0.09
0.2886 0.28
58,194.2 293,358,19
488.93 501.
1.07% 0.42
al investments. ble to shareholders ters 2012 and 2101ents that are more tbalance of loans wi
erformance R
As of an
‐12 Sep‐12
2% 8.01%
3% 10.80%
0% 7.44%
0% 8.03%
9% 1.69%
1% 0.73%
0% 0.54%
9% 14.4%
9% 55.5%
2% 0.63%
4% 270.3%
8% 1.35%
1% 128.01%
2% 2.11%
1% 3.75%
1% 4.41%
3% 0.98%
5% 1.15%
3% 14.7%
8% 0.97%
5% 1.14%
6% 13.33%
1% 1.89%
1% 2.56%
2% 50.4%
195 0.1092
578 0.3457
959 0.1068
871 0.3380
94.2 293,358,194.2 2
.07 473.94
2% ‐0.16%
excluding net incom13, respectively, thethan 90 days overdith one installment
Ratios (unaud
nd for the three m
Dec‐12
8.19%
11.05%
7.36%
7.95%
1.64%
0.46%
0.34%
8.1%
30.3%
0.54%
305.2%
1.19%
140.41% 1
3.07%
4.25%
4.92%
1.46%
1.69%
23.3%
1.13%
1.31%
15.95%
2.30%
3.06%
54.1%
0.1646
0.5153
0.1263
0.3955
293,358,194.2 340,35
479.16
1.11%
me and accrual for e bank increased its due. 90 days or more ov
dited)
months ended
Mar‐13 Jun‐
10.63% 10.3
14.76% 14.1
9.56% 9.3
10.57% 10.2
1.69% 1.6
0.82% 0.7
0.62% 0.5
17.1% 12.
70.2% 45.
0.48% 0.4
350.7% 419.
1.16% 1.0
47.85% 161.6
2.83% 3.1
3.62% 4.6
4.20% 5.6
1.05% 1.8
1.22% 2.2
13.8% 20.
0.88% 1.3
1.02% 1.5
10.50% 13.8
1.85% 2.1
2.45% 2.8
51.0% 45.
0.1036 0.18
0.3294 0.54
0.0847 0.12
0.2693 0.37
58,194.2 340,358,19
471.89 507
0.13% ‐0.0
mandatory dividen capital base.
verdue.
Press RelFebruary 20,
Page 24
‐13 Sep‐13
3% 9.14%
5% 13.10%
3% 9.99%
9% 11.10%
9% 2.35%
8% 1.19%
9% 0.89%
6% 19.4%
4% 102.2%
0% 0.52%
4% 430.7%
7% 1.21%
1% 193.98%
5% 4.28%
7% 4.59%
0% 5.58%
3% 1.15%
0% 1.40%
6% 13.0%
0% 0.87%
6% 1.06%
1% 7.62%
1% 2.42%
0% 3.23%
1% 52.6%
843 0.1326
442 0.3943
284 0.0827
793 0.2461
94.2 340,358,194.2 3
.89 504.22
7% 1.04%
nds.
lease 2014 4 / 25
Dec‐13
9.37%
13.43%
9.82%
10.89%
2.35%
0.78%
0.59%
10.5%
42.7%
0.47%
497.5%
1.12%
213.44%
4.09%
5.56%
6.72%
2.03%
2.46%
23.1%
1.37%
1.66%
13.08%
2.71%
3.62%
48.7%
0.2604
0.7421
0.1598
0.4553
340,358,194.2
526.41
0.94%
![Page 25: CorpBanc a Anno uncesmedia.capitallink.com/press/2013_Q4_Earnings_Release.pdf · Santiago, C offering a w for the fo statements convenienc our interna has been o (“SBIF”). Financi](https://reader034.vdocuments.us/reader034/viewer/2022052009/601f19348dc22b55044c5b8d/html5/thumbnails/25.jpg)
CAUTION R
This press identified b"project", language sregarding completionestimates fare a numbstatementsapprovals the mergercould haveconditions assets or csuccessfullyas effectivsynergies ocompany omay sufferor legislativby other econ currentmanagemecurrently ainherent riother forwstatementsplans, objestatementsof this presincluded foforward‐lo CONTACT I
Eugenio GiCFO, CorpBSantiago, CPhone: (56investorrel
Claudia LabManager InSantiago, CPhone: (56claudia.lab
Nicolas BoPresident, New York, Phone: (21nbornozis@
REGARDING FO
release contaby the use of "may", "will", suggesting an benefits of thn of the transfor growth. Thber of risks ands included in threquired for thr, or required e a material adto the closing capital stock ofy integrating tvely and efficieor it may takeor its subsidiarir as a result of ve actions thatconomic, busint beliefs as ent. Although available to it, isks and uncerward‐looking sts as a numberectives, expects. Furthermoress release andorward‐lookingoking stateme
INFORMATION
igogne Banca Chile 62) 2660‐2555 ations@corpba
bbé nvestor RelatioChile 62) 2660‐2699 bbe@corpbanc
rnozis Capital Link USA 2) 661‐7566 @capitallink.co
ORWARD‐LOO
ains forward‐lof words such a"should", "cououtlook. Thes
he proposed msaction, anticipese statementd uncertaintieshis communicahe merger; (2)regulatory appverse effect onof the merger f Itaú Unibanche businesses ently as expec longer than eies may be difff uncertainty sut could adverseness, and/or cwell as assummanagementthey may provrtainties, both tatements will r of important tations and ae, the forward‐d CorpBanca dog statements, nts contained
N:
anca.cl
ons, CorpBanca
ca.cl
om
OKING STATEM
ooking statemeas "anticipateuld", "estimatese forward‐loomerger, integrapated future fts are based ons that could cauation. For exam the companieprovals may dn the combinedmay not be sa
co or CorpBancof the compancted; (6) the expected to acferent from whurrounding theely affect the competitive facmptions madet considers thve to be incorrgeneral and snot be achievfactors could nticipations, e‐looking statemoes not undertwhether as ain this press re
a
MENTS
ents. Forward", "believe", "e", "predict" ooking statemenation plans anfinancial and n the current exuse actual resumple, (1) the ces may be unaelay the mergd company or catisfied; (4) an ca could interfnies, which macombined comchieve those syhat the compane merger; (9) tcompanies; anctors. Forwarde by and infhese assumptirect. By their vspecific, and rived. We cautiocause the actestimates and ments containetake any oblig result of newelease are expr
d‐looking infor"expect", "planor similar wordnts include, bund expected soperating pexpectations ofults to differ mcompanies mayable to obtain ger or result in cause the compunsolicited offfere with the may result in the mpany may bynergies; (7) thnies expect; (8the industry md (10) the comd‐looking statemformation curions to be revery nature, foisks that predion readers not tual results to d intentions exed in this pressgation to updaw information,ressly qualified
rmation is often", "intend", "ds suggesting ut are not limsynergies, the erformance anf CorpBanca’s materially from y be unable toregulatory app the impositiopanies to abanfer of another merger; (5) procombined come unable to ahe credit ratin8) the businessay be subject
mpanies may bements and infrrently availabeasonable basorward‐lookingictions, forecato place undudiffer materiaxpressed in sus release are mate publicly or , future eventsd by this caution
Press RelFebruary 20,
Page 25
en, but not al"forecast", "tafuture outcom
mited to, statemexpected timi
nd results, inclmanagement. the forward‐loo obtain sharehprovals requiren of conditionndon the mergcompany to acoblems may armpany not opeachieve cost‐cngs of the comes of the compto future regue adversely affformation are ble to CorpBased on informg statements inasts, projectionue reliance on ally from the buch forward‐lomade as of theto revise any os or otherwisenary statemen
lease 2014 5 / 25
lways, arget", mes or ments ing of luding There ooking holder ed for s that er; (3) cquire rise in rating utting
mbined panies ulatory fected based anca’s mation nvolve ns and these
beliefs, ooking e date of the e. The nt.