larrainvial | 13th andean · 2019-04-02 · larrainvial | 13th andean & southern cone...

Itaú Corpbanca

LarrainVial | 13th Andean &

Southern Cone Conference

Presentation

March 19 – 20, 2019 | Santiago

Disclaimers• This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and

should not be treated as giving investment advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein.

Any opinions expressed in this material are subject to change without notice and neither Itaú Corpbanca (the “Bank”) nor any other person is under obligation to update or keep current the information contained

herein. The information contained herein does not purport to be complete and is subject to qualifications and assumptions, and neither the Bank nor any agent can give any representations as to the accuracy

thereof. The Bank and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material

• Certain statements in this presentation may be considered forward-looking statements. Forward-looking information is often, but not always, identified by the use of words such as “anticipate,” “believe,” “expect,”

“plan,” “intend,” “forecast,” “target,” “project,” “may,” “will,” “should,” “could,” “estimate,” “predict” or similar words suggesting future outcomes or language suggesting an outlook. These forward-looking statements

include, but are not limited to, statements regarding expected benefits and synergies from the merger of Banco Itaú Chile with and into CorpBanca, the integration process of both banks, anticipated future

financial and operating performance and results, including estimates for growth, as well as risks and benefits of changes in the laws of the countries we operate

• These statements are based on the current expectations of the Bank’s management. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements

included in this communication. For example, (1) problems that may arise in successfully integrating the businesses of Banco Itaú Chile and Corpbanca, which may result in the combined company not operating

as effectively and efficiently as expected; (2) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (3) the credit ratings of the

combined company or its subsidiaries may be different from what the Bank or its controlling shareholders expect; (4) the industry may be subject to future regulatory or legislative actions that could adversely

affect the Bank; and (5) the Bank may be adversely affected by other economic, business, and/or competitive factors

• Forward-looking statements and information are based on current beliefs as well as assumptions made by and information currently available to the Bank’s management. Although management considers these

assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general

and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved

• We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and

anticipations, estimates and intentions expressed in such forward-looking statements. More information on potential factors that could affect Itaú CorpBanca’s financial results is included from time to time in the

“Risk Factors” section of Itaú CorpBanca’s Annual Report on Form 20-F for the fiscal year ended December 31, 2017, filed with the U.S. Securities and Exchange Commission (the “SEC”). Furthermore, any

forward-looking statement contained in this presentation speaks only as of the date hereof and Itaú CorpBanca does not undertake any obligation to update publicly or to revise any of the included forward-

looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement

• This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the

U.S. Securities Act of 1933, as amended, or the applicable laws of other jurisdiction

• The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent

that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view

expressed in this material

• The Bank is an issuer in Chile of securities registered and regulated by the Superintendencia de Bancos e Instituciones Financieras, or “SBIF.” Shares of our common stock are traded on the Bolsa de Comercio

de Santiago—Bolsa de Valores, or the Santiago Stock Exchange, the Bolsa Electrónica de Chile— Bolsa de Valores, or Electronic Stock Exchange, and the Bolsa de Corredores—Bolsa de Valores, or the

Valparaiso Stock Exchange, which we jointly refer to as the “Chilean Stock Exchanges,” under the symbol “ITAUCORP.” The Bank’s American Depositary Shares are traded on the New York Stock Exchange

under the symbol “ITCB.” Accordingly, we are currently required to file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the SBIF and

the Comisión para el Mercado Financiero, the Chilean Commission for the Financial Market, or “CMF,” and provide copies of such reports and notices to the Chilean Stock Exchanges and the SEC. All such

reports are available at www.sbif.cl, www.cmf.cl, www.sec.gov and ir.itau.cl.

2

https://ir.itau.cl/English/home/default.aspx

Agenda1. Investment Case

2. Financials

3. Key Strategic Drivers

4. Appendix

Itaú Corpbanca | Investment Case

1 As of December 31, 2018. Source: Economatica

2 – Rankings based on gross loans as reported to the Superintendencia de Bancos e Instituciones Financieras (SBIF), excluding loans from Itaú Corpbanca Colombia, and Superintendencia Financiera de Colombia (SFC).

Source: Company financials.

Solid Macroeconomic Fundamentals and Expanding Banking Sector

Chile is one of the most developed economies in Latin America, sustained by solid macroeconomic fundamentals

Chile has one of the best sovereign ratings and among the lowest CDS spreads in Latin America

Colombia is also an attractive market with a diversify economy

The Chilean and the Colombian banking sectors have achieved high profitability and healthy assets quality with effective regulatory oversight

LatAm Banking Sector has potential to achieve further growth, particularly in the underpenetrated retail segments

Solid

Macroeconomic

Fundamentals

Unique control and support from a leading institution

Itaú Unibanco is the largest private financial institution in Brazil and a premier LatAm franchise

Itaú Corpbanca benefits from the strength of a ~US$88.3 BN1 market cap partner in its existing markets while enhancing

opportunities for growth abroad

Opportunity to leverage Itaú Unibanco’s strong global client relationships successful managing model

Itaú Corpbanca will be able to expand its banking products’ offering through segmentation and digitalization

Larger banking platform

Greater scale and resources to grow and compete more effectively in Chile and Colombia

Enhanced footprint in Chile and Colombia create a platform to expand in the region, particularly into Peru and Central America

5th largest private bank in Chile and 6th largest banking group in Colombia by total loans2

2

1

3

4Itaú CorpBanca will have a stronger financial profile and greater earnings power

Estimated pre-tax cost synergies between US$88MM and US$107MM approximately per year on a fully phased-in basis and

total one-time pre-tax integration costs of approximately US$85MM to occur during the first 3 years

Improved funding profile and substantial potential for revenue synergies

Additional cross-selling opportunities

Improved capital position opens room for further loan growth

Unique Control

and

Support

Banking Platform

with Larger Scale

Positive Impact

to Itaú Corpbanca







Solid

Macroeconomic

Fundamentals











2

1

3







Unique Control

and

Support

Banking Platform

with Larger Scale

Positive Impact

to Itaú Corpbanca





GDP Growth (%) Interest Rates (EOP) - %

Inflation (CPI) - %

Source: Central Bank of Chile and Central Bank of Colombia. Itaú CorpBanca’s projections

Exchange rates – CLP/USD & CLP/COP

0.20

0.21

0.22

0.23

0.24

0.25

0.26

0.27

580

600

620

640

660

680

700

720

740

CLP/USD CLP/COP

3.3

5.3 5.0 4.5

3.0 3.5 3.5

2.5 2.8 3.3

4.0

3.0

4.8 4.3

3.3

4.5

5.8

7.5

4.8 4.3 4.5 4.5

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(e) 2020(e)

Chile Colombia

5.8 6.1

5.3

4.0

1.8

…

1.3 1.5

4.0

3.2

4.0 4.0

6.6

3.9

4.6 4.7

3.0

2.0 1.8

2.7

3.33.6

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(e) 2020(e)

Chile Colombia

3.0

4.4

1.5

3.0

4.6 4.4

2.72.3 2.6 2.6

2.9 3.2

3.7

2.4 1.9

3.7

6.8

5.8

4.1

3.2 3.0 3.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(e) 2020(e)

Chile Colombia

6

Macroeconomic Backdrop1







Solid

Macroeconomic

Fundamentals











2

1

3







Unique Control

and

Support

Banking Platform

with Larger Scale

Positive Impact

to Itaú Corpbanca





Itaú Unibanco | At a Glance2

Leading position in Brazil

• US$ 88.3 billion market cap 1

• 100,335 employees in Brazil and abroad

• 4,940 branches and CSBs in Brazil and abroad

• 48,476 ATMs in Brazil and abroad

• Around 49.7 million clients in the Retail Bank

• Brazilian multinational bank

• Major provider of finance for the expansion of Brazilian companies

• In 2017 Itaú Unibanco was elected the The Best Company in People Management (by “Valor Carreira” magazine)

and also recognized as a pro-ethics company (Pró-Ética), an initiative between the Office of the Comptroller

General 2 with the private sector, which encourages the voluntary adoption of integrity measures and corruption

prevention in the business sector, being the only financial institution among the companies approved.

Global Footprint of Brazil’s Top Private Sector Bank | as of December 31, 2018

Financial Highlights and RatiosAs of and for the quarter ended December 31, 2018

1 As of December 31, 2018. Source: Economatica; 2 Controladoria-Geral da União (CGU).

Highlights

Total Assets BRL 1,649.6 Bn

Total Loans 1 BRL 636.9 Bn

Stockholders’ Equity BRL 131.8 Bn

Recurring Net Income 2018 2 BRL 25.7 Bn

Recurring Net Income 4Q18 2 BRL 6.5 Bn

Long Term Foreign Currency Moody´s: Ba3

(Itaú Unibanco Holding) Fitch: BB

S&P: BB-

Financial Ratios

Recurring RoE 2018 3 21.9%

Recurring RoE 4Q18 4 21.8%

Efficiency Ratio 2018 5 47.6%

Efficiency Ratio 4Q18 5 48.7%

Liquidity Coverage Ratio 172%

Tier I Capital 6 15.9%

(1) Includes financial guarantees provided and corporate securities. (2) Represents Net Income adjusted for certain non recurring events described in Itaú Unibanco’s 4Q18 MD&A – Executive Summary.

(3) Calculated using Recurring Net Income / Average Equity. For annualized calculation

method, please refer to Itaú Unibanco’s Historical Series Spreadsheet.

(4) Calculated using Recurring Net Income / Average Equity. For annualized calculation

method, please refer to Itaú Unibanco’s 4Q18 MD&A – Executive Summary.

(5) See “Efficiency Ratio” slides in this presentation for criteria.

(6) Includes impacts from schedule anticipation of deductions and does not consider the

additional dividend and interest on own capital.

8

Itaú Unibanco | Joint Ventures and Partnerships with Retailers2

HighlightsJVs and Partnerships

• Focus on credit card instruments

• Long term agreements

• Alignment of incentives

• Brazilian market leader in credit card transactions.

• Qualification of the client base: proprietary channel x partnerships

• Credit card business comprises:

• Issuance of cards

• Acquiring: REDE

• JVs and partnership with retailers

• Own brand: Hiper

• Approximately 60.5 million card accounts (4Q18)

• 32.4 million credit card accounts

• 28.1 million debit card accounts

• R$ 131.7 billion in card transactions (4Q18)

• R$ 97.6 billion in credit card transactions

• R$ 34.1 billion in debit card transactions

• High growth potential in credit card usage in Brazil.

Highlights

9

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https://www.google.com.br/url?q=http://viagens.vejapixel.com.br/dicas/companhias/aereas/conheca-a-companhia-aerea-azul/&sa=U&ei=0VtMU9qTMuXG0QHVkICQBw&ved=0CDAQ9QEwAQ&usg=AFQjCNFhEb6tFxSK_4p3EwHqtZOFQhhbtw

Itaú Unibanco | Capital Ratios2

1 Considers the payout of 89.2% and the average daily closing price in 2018; 2 Dividends and IOC net of taxes.

Full application of Basel III rules │ December 31, 2018

Assets deductions

and RWA

Tier I

Dec-18Tier I

Dec-17

Net Income

and other Equity changes

Tier I – Dec-18 after

additional dividends

and IOC

Aditional Tier 1 Capital

Issued on Mar-18 and

exchange rate variation

Dividends, IOC

and shares

buyback

Additional

dividends and IOC

Common Equity Tier I (CET I) Additional Tier I (AT1)

Payout and Shares Buyback Dividend Yield1

Shares Buyback

Payout

10

Itaú Unibanco | Efficiency Ratio and Risk-Adjusted Efficiency Ratio2

11

Itaú Unibanco | Information Technology: Digital Transformation2

number of current account holders (in millions)

Individuals

1 Internet, mobile or SMS in the Retail Bank

Companies

Note: Share of digital channels in the total volumen

(R$) of transactions in the Retail Bank segment

Share of TransactionsThrough digital channels

New AccountsIndividuals accounts (in thousands)

Share of Digital Operations on the Retail Operating Revenues

Efficiency Ratio

71%

26%

2018

Brick and Mortar

Branches

vs

Digital Branches

Digital Branches Brick and Mortar BranchesBrick and Mortar BranchesAbreconta App

Use of Digital Channels1

12







Solid

Macroeconomic

Fundamentals











2

1

3







Unique Control

and

Support

Banking Platform

with Larger Scale

Positive Impact

to Itaú Corpbanca





Itaú Corpbanca | Our Vision3

To be the leading bank in sustainable performance and customer satisfaction

1. Implement a customer satisfaction-oriented culture, that is business-driven, through a simplified operational structure

2. Maximize shareholder returns, aiming at firm-wide growth

3. We aspire to be the preferred bank for top talents at every level

• Attract and retain committed professionals with high ethical standards and strong organizational pride

• Shared leadership, conquered through talent and commitment to excellence, focused on meritocracy

4. Create an atmosphere that inspires creativity, entrepreneurialism and the exchange of ideas

5. Pursue a cutting-edge technology, striving to best serve our client needs, ultimately creating value

6. Uphold the highest ethical standards in the relationship with clients, employees, regulators, society and the markets

14

Itaú Corpbanca | Our Way3

We seek to create a culture based on seven attitudes that define our identity and identify us in the way

we do business. Each one of them represents the core of what we focus on as institution.

1. It´s only good for us if it’s good for the client

We are people providing service to people, with passion and excellence. We work with the client and for the client –because they are the main reason behind why we

do what we do.

2. We’re passionate about performance

Generating sustainable results is in our DNA. The continuous challenge of seeking leadership in performance has brought us to where we are –and will continue

guiding our company towards our objectives.

3. People mean everything to us

Everything we do is carried out by people. Talented people who enjoy working in a collaborative atmosphere, based on meritocracy and high performance.

4. The best argument is the one that matters

We encourage a challenging work environment, which is open to questioning and constructive discussion. For us, the hierarchy which counts is the hierarchy of the

best idea.

5. Simple. Always

We believe that simplicity is the best path to efficiency. That’s why we strive not to mistake depth for complexity, and simplicity for simplism.

6. We think and act like owners

We always think like business owners, leading by example and putting collective objectives before personal ambition.

7. Ethics are non-negotiable

We do what is right, without using shortcuts or devious ways to do business. We exercise leadership in a transparent and responsible way, fully committed to society

and the best governance and management practices.

15

Itaú Corpbanca | Highlights3

Regional footprint & main indicators 2 3

10.2% 2 4.9% 4Market Share

US$ 24.2 bn US$ 6.8 bn Loans 2 US$ 31.0 bn

5,685 5 3,494 6Headcount 2 9,179

202 161 Branches 2 363

US$ 32.8 bn US$ 9.6 bnAssets 2 US$ 42.4 bn

US$ 291 mn US$ 11 mn Recurring Net Income 2018 US$ 302 mn

13.3% 1.9% Recurring RoTAE 2018 7 11.0%

1 Ranking for assets and loans consider Grupo Aval as the combination of Banco de Bogotá, Occidente, Popular, AV Villas; 2 Consolidated information as of December 31, 2018; 3 Figures were converted at an exchange rate of 694.73 CLP/USD; 4 Consolidated information as of November 30, 2018; 5 Includes headcount of our New York branch and since 1Q’18 also from our RepOffices in Lima and Madrid; 6 Includes headcount of Itaú (Panamá); 7 Tangible Equity: Shareholders equity net of goodwill, intangibles from business combination and related deferred tax liabilities.

Sources: Itaú CorpBanca, SBIF and SFC.

16

We are key part of Itaú Unibanco’s Internationalization Process

Itaú Corpbanca | Increases Relevance Across Latin America3

(US$ Bn)

US$ Bn US$ Bn

4

Caixa

7. BCI

Santander

Bradesco3

9 Citibank

Banco do Brasil

8 BBVA

Scotiabank7

1

2

3

4

5

6

7

8

9

15

BCI

Grupo Aval

5. BBVA

Santander

Scotiabank7

Banco del Estado de Chile

1

2

3

5

6

7 Banco de Chile

Bancolombia

Itaú Corpbanca4

9

8

Itaú CorpBanca represents 23%

of Itaú Unibanco’s consolidated

loan portfolio8

Itaú Unibanco2

10Itaú Corpbanca4

Itaú LatAm6

1 Data as of September 30, 2018. Includes Brasil, México, Colombia, Chile, Argentina, Paraguay, Perú and Uruguay; 2 Includes Brasil, México, Argentina, Perú, Uruguay, Paraguay, Chile y Colombia; 3 In September 30, 2016 Bradesco begins to consolidate

HSBC Brasil in its publication; 4 Includes Chile y Colombia (Itaú Corpbanca Chile with ~US$35MMM in assets); 5 Data as of September 30, 2018. Includes Colombia, Chile, Argentina, Paraguay, Perú and Uruguay; 6 Includes Colombia, Chile, Argentina,

Paraguay, Perú and Uruguay; 7 As of September 30, 2018 Scotiabank figures consolidates with BBVA Chile after the latter merged with and into Scotiabank Chile; 8– Considering the consolidated loan portfolios of Itaú Unibanco and Itaú Corpbanca reported in

their respective 4Q’18 MD&As and a R$ 3.8773 / US$ and a Ch$ 694.73 / US$ foreign exchange rates as of 31.12.2018; 9– Since October 16, 2018, Itaú Unibanco holds a 38.14% equity stake in Itaú Corpbanca but as the controlling shareholder, fully

consolidates Itaú Corpbanca’s Financial Statements.

Source: Central Banks, local regulators, companies filings, Itaú Corpbanca.

Banks by Assets in Latin America1 Banks by Assets in South America (ex-Brazil)5

Loan portfolio as of Dec.18

363

398

316

102

341

76

319

161

60

45

53

54

57

53

45

76

78

60

55

50

17

Itaú Corpbanca is currently the 5th largest private bank in Chile and we contribute to position Itaú LatAm as the 10th and 6th largest

bank in terms of assets within South America (ex-Brazil)

Itaú Corpbanca | Shareholders & Stock Market3

10.92%

8.85%

5.37%

4.83%

Securities Brokerage

ADRs Holders and Foreign Investors

Local Institutional Investors

Other minority shareholders

US$ 4.8 BnMarket Cap. (Dic. 31, 2018)

Source: Sell-side reports.

1 – For Itaú CorpBanca and BCI consider shareholders equity net of goodwill and intangibles from business combination.

Buy: 3

Hold: 6

Sell: 0

Sell-side rating:

Price-to-Book1

December 31, 2018

18

Average daily traded volumes 12 months

ended December 31, 2018

3.60

0.49

4.08

Santiago NY Total

(US$ million)

Itaú Corpbanca | Strong and Integrated Corporate Governance3

Board Chile

Wholesale

Manuel Olivares

Treasury Marketing &

Products

IT Human

ResourcesRetailCRO Legal

Álvaro Pimentel

Treasury

Derek

Sassoon

CRO

Juan Ignacio

Castro• Credit Risk:

Frederico Quaggio

IT

Bernardo

Alba

Legal & General

Secretary

Dolly

Murcia

Human

Resources

María Lucía

Ospina

Wholesale

Jorge

Villa

Communications &

Institutional Relations

Carolina

Velasco

Operations

Liliana

Suárez

Retail

Hernando

Osorio

Chairman

Manuel Olivares

Matrix reporting to CEO Colombia and

functional reporting to ITCB

Functional reporting to CEO Colombia

and matrix reporting to ITCB for

coordination of specific themes

Board Colombia

Board Colombia

Roberto Brigard Holguín

Luis Fernando Martínez Lema

Carmiña Ferro Iriarte

Rafael Pardo Soto

Juan Echeverría González

Gabriel Moura

Cristián Toro

Mónica Aparicio Smith

Chairman

Manuel Olivares

Colombia

Pedro

Silva

Mauricio

Baeza

Luciana

HildebrandiÁlvaro

Pimentel

Christian

TauberJulián

Acuña

Marcela

JiménezCristián

Toro

Luis

Rodrigues

Itaú CorpBanca Colombia CEO

Itaú Corpbanca CEO

Board Chile1 2

Chairman

Jorge Andrés Saieh Guzmán

Ricardo Villela Marino

Caio Ibrahim David

Milton Maluhy Filho

Andrés Bucher Cepeda

Pedro Samhan Escandar

Fernando Concha Ureta

Jorge Selume Zaror

Fernando Aguad Dagach

Gustavo Arriagada Morales

Bernard Pasquier

1 Itaú Unibanco and CorpGroup appoint the majority of the members of the board of directors; 2 Pursuant to the Shareholders Agreement, the Directors appointed by Itaú Unibanco and CorpGroup shall vote together as a single block according to Itaú

Unibanco’s recommendation.

Audit Committee

CAE

Emerson Bastián

Franchise,

Products & Digital

Marcos Aulicino

Andrade

CFO

Gabriel

Moura

CFO

Juan Pablo

Michelsen

Operations

Jorge

Novis

19

Itaú Corpbanca | Competitive Environment3

1 As of December 31, 2018; 2 As of November 30, 2018.Sources: SBIF and SFC.

2.8%

8.3%

11.7%

13.1%

21.0%

15.9%

17.1%

3.2%

10.2%

13.8%

13.9%

14.50%

16.9%

18.3%

Peer-F

Itaú CorpBanca

Peer-E

Peer-C

Estado

Peer-A

Peer-B

Loans Total Deposits

2.4%

4.6%

5.6%

12.0%

13.4%

23.0%

26.6%

2.9%

4.9%

5.2%

10.5%

15.0%

25.6%

25.7%

Peer-F

Itaú CorpBancaColombia

Peer-E

Peer-D

Peer-C

Peer-B

Peer-A

Loans Total Deposits

Market Share Colombia2Market Share Chile1

20







Solid

Macroeconomic

Fundamentals











2

1

3







Unique Control

and

Support

Banking Platform

with Larger Scale

Positive Impact

to Itaú Corpbanca





Itaú Corpbanca | Current Scale Allows for Better Segmentation4

IndividualsBy monthly income(CLP MM)

CompaniesBy annual sales

(USD MM)

Investments > USD 1MM

Over $2.5

From $0.6 to $2.5

Up to $0.6

Private Bank

Personal Bank

Itaú Branches

Condell

Over $100

From $8 to $100

From $1 to $8

From $0.1 to $1

Corporate

Large

Middle

Very Small and Small

Wh

ole

sale

Ba

nk

ing

Re

tail

Ba

nk

ing

22

Fully implemented segmentation model with well defined identity and value proposition, aimed at optimizing service

level, satisfaction and profitability per client.

Branch profile in Chile

22 Itaú Personal Bank

123 Itaú Sucursales

56 Condell (Consumer Finance)

Itaú Personal Bank Itaú Sucursales

Itaú Corpbanca | Individuals Segmentation Overview4

23

Continuous improvement of

the look and feel of our digital

channels.

Review and improvement of benefits and

offers linked to stronger transactionality

and relationship.

Advancing with roll-out of new digital

services and offerings. Executing a

well defined pipeline of digital

solutions.

Itaú Corpbanca | Client Experience, Digital Banking and Value Offer 4

24

Increasing transactions

Higher adoption of our App

143more CLIENTS since Jan’17

# sales of retail installment loans

Itaú Corpbanca | Increasing Digital Transactions4

91%

23%

9%

77%

Apr'16 Dec'18

Sales through traditional channels Sales through Digital Channels (Internet + App)

25

7.5%

DEC 2014

7.4%

MAR 2015

7.2%

MAR 2016

7.1%

JUN 2017

7.7%

DEC 2017

12-months installment loans growth: Itau vs. Financial System

Installment Loans market share

Itaú Corpbanca | Business Growth in Retail 4

8.0%

MAR 2018 DEC 2018

7.9%

JUN 2018

8.0%

5.8%

10.4%

1.7%

14.9%

abr-16 jun-16 sep-16 dic-16 mar-17 jun-17 sep-17 dic-17 mar-18 jun-18 sep-18 dic-18

Financial System Itaú CorpBanca

SEP 2018

7.9%

26

Itaú Corpbanca | Business Mix4

1 Yearly average gross loans; 2 Loan interests by segments;Source: SBIF; Itaú Corpbanca; Team Analysis.

Loans breakdown by segment¹LTM Dec 2018, Ch$ Bn

13.4

7.0

13.8

7.0

Total

6.1 6.5

5.9 6.0

ItaúCorpbanca

AverageTop 3

Interest Rates

26,580

Consumer

Commercial

15,84827,463

Mortgage

29,233

∆ 10 bp

32 bp por mix

Peer-A Peer-B Peer-C

Current rate w/ top 3 mix

Current

Top 3

Top 3 rates w/ current mix

Mix difference explains most es the Yield

gap with the Top 3

100% =2

7.0

7.3

7.0

6.8

55.2%51.2%

64.7%

29.0%32.8%

24.3%

15.8% 16.0%11.0%

65.8%

23.8%

10.4%

27

People Digital Transformation

Implementation of Itaú

Unibanco’s management model

for the Retail Bank

Instrumentalization of relationship

managers with cockpits and tools

Development and reinforcement

of a client-centric culture

Focus on Client Satisfaction

Implementation of Itaú

Unibanco’s meritocracy model

Creation of talent attraction and

development programmes

Dress code flexibility for employees

Salas digitales

Advanced work methodologies and

tools

150+ releases and new functionalities

Back-end to front-end digitalization of

opening of digital accounts process

Itaú Corpbanca | Translating Strategy Into Action4

28

Itaú Corpbanca | Funding Mix4

Total Funding BreakdownInterest Rates

31,237 19,753

Debt Issued

34,564

Others1

100%34,986

Checking accounts

and deposits

2.8

2.3

3.2

3.0

Total

0.3 0.3

4.9 5.4

Itaú Corpbanca

1.1 1.1

Average Top 3

∆ 76 bp

51 bp por mix

Peer-A Peer-B Peer-C

Top 3 rates w/ current mix

Current rate w/ top 3 mix

Non-interest bearing liabilities are the main

reason for the gap when compared to the

3 players

Time Deposits

1 Others: Repurchases contracts, financial derivatives, bank obligations, letters of credit, other financial obligations, taxes, differed taxes, provisions, other liabilities.

LTM Dec 2018, Ch$ Bn

Top 3

Current

2.7

3.0

2.3

2.5

14.6% 17.0% 19.1% 20.9%

22.6%22.9% 16.1%

27.1%

33.7%

36.6%

34.5%

39.8%

29.1%23.6%

30.3%

12.2%

29

Itaú Corpbanca | Debt Spread Evolution4

Itaú CorpBanca has presented a noticeable convergence to peers

Spread vs.Peers1: 30-day (annualized) Spread vs.Peers1: 5-year (annualized)

1 – Average of top 3 peers in Chile. As of March 18, 2019; 2 – As of December 31, 2018.

Bonds in CLP & UF (expressed in USD MM) Spread vs.Peers1

Bonds issued in Chile LTM2

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

jul-

11

oct

-11

ene-

12

abr-

12

jul-

12

oct

-12

ene-

13

abr-

13

jul-

13

oct

-13

ene-

14

abr-

14

jul-

14

oct

-14

ene-

15

abr-

15

jul-

15

oct

-15

ene-

16

abr-

16

jul-

16

oct

-16

ene-

17

abr-

17

jul-

17

oct

-17

ene-

18

abr-

18

jul-

18

oct

-18

ene-

19

Chile Santander BCI Itaú Corpbanca

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

oct

-11

ene-

12

abr-

12

jul-

12

oct

-12

ene-

13

abr-

13

jul-

13

oct

-13

ene-

14

abr-

14

jul-

14

oct

-14

ene-

15

abr-

15

jul-

15

oct

-15

ene-

16

abr-

16

jul-

16

oct

-16

ene-

17

abr-

17

jul-

17

oct

-17

ene-

18

abr-

18

jul-

18

oct

-18

ene-

19

Chile Santander BCI Corpbanca Itaú

114

197 197

118

157

118 118

4

118 118

39 43

144

79 96

197

101 79

01

-03

-20

17

01

-05

-20

17

01

-10

-20

17

01

-16

-20

17

01

-20

-20

17

01

-25

-20

17

02

-10

-20

17

02

-16

-20

17

04

-04

-20

17

04

-04

-20

17

08

-25

-20

17

09

-25

-20

17

10

-17

-20

17

02

-06

-20

18

02

-21

-20

18

03

-14

-20

18

04

-13

-20

18

06

-05

-20

18

15 bp10 bp

2 bp

11 bp 12 bp 10 bp13 bp

7 bp 8 bp 7 bp 5 bp 5 bp 7 bp5 bp 4 bp

9 bp

2 bp 6 bp

30

Itaú Corpbanca | Rating Upgrades in 2016 Contribute to Further Reduction in Cost of Funds4

Current International Ratings

Moody's S&P

Financial

Capacity

Rating Scale Rating Scale

LT ST LT ST

Extremely

strongAaa

P-1

AAA

A-1+Very

strong

Aa1 AA+

Aa2 AA

Aa3 AA-

Strong

A1 A+

A-1

A2 A

A3

P-2

A-

A-2

Adequate

Baa1 BBB+

Baa2

P-3

BBB

A-3

Baa3 BBB-

+3n +1n

Timeline S&P

A

A+

BBB+

A+

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

A+ A+

A

A

A

A

A-A-A-

BBB+

BBB BBB

BBB+

31


2. Financials


4. Appendix

Financials | Financial Information

The financial information included in this section is based in our managerial model that we adjust for non-recurring events, for the amortization of intangibles arising

from business combination, and for the tax effect of the hedge of our investment in Colombia. At the same time, we adjust the Managerial Income Statement with

additional reclassifications of P&L lines in order to provide a better clarity of our performance. Please refer to pages 9 and 10 of our Management Discussion &

Analysis Report (“MD&A Report”) for further details, available at ir.itau.cl.

33

HighlightsFull Year 2018

Consolidated

Ch$ 209.6 bn

Recurring Net Income Recurring RoTE Loans NPL 90 days

Net Interest Income Net Fees and Comissions Cost of Credit Operating Expenses

^241.0%

Chile

Ch$ 202.0 bn ^143.4%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

61.538.8 209.6

Consolidated

11.0% ^ 7.6p.p.

Chile

13.3% ^ 7.5p.p.

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

3.42.2 11.0

Consolidated

Ch$ 21.5 tn ^ 5.4%

Chile

Ch$ 16.8 tn ^ 5.5%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

20.421.0 21.5

Consolidated

2.1%

^

0.2p.p.

Chile

1.8%

^

0.3p.p.

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

2.31.7 2.1

Consolidated

Ch$ 847.0 bn ^14.2%

Chile

Ch$ 575.5 bn ^10.3%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

215.3197.0 226.5

Consolidated

Ch$ 186.1 ^ 4.8%

Chile

Ch$ 154.1 ^ 9.9%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

43.445.8 49.7

Consolidated

Ch$ 231.3 bn

^

38.9%

Chile

Ch$ 133.0 bn

^

44.4%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

378.7375.0 231.3

Consolidated

Ch$ 621.8 bn ^ 0.3%

Chile

Ch$ 428.0 bn ^ 2.2%

2018 vs. 2017

2018 vs. 2017

2016 2017 2018

620.0579.1 621.8

34

2012 2013 2014 2015 2016 2017 2018

GDP Growth

Inflation

Loan Growth1

Forecast 2 Actual

GDP

Loan Growth

Inflation

Interest Rate

GDP

Loan Growth

Inflation

Interest Rate3

3.3%

6 – 8%

2.5%

2.5%

2.5%

8 – 10%

3.3%

4.0%

4.0%

10.2%

2.6%

2.75%

2.7%

5.5%

3.2%

4.25%

12.3%

10.2% 10.7% 11.0%

5.6%4.5%

10.2%

2 – Itaú CorpBanca’s forecast for 2018 on March 1st 2018; 3 – End of period.1 – Pro Forma figures from 2015 to 2018 adjusted for the inclusion of loans from CMR and Walmart credit portfolios

5.3%4.0%

1.8% 2.3%1.3% 1.5%

4.0%

1.5%

3.0%

4.6% 4.4%

2.7% 2.3% 2.6%

35

Financials | Global Macroeconomic Backdrop

Financials | 2018 Forecast

Loan Growth

Increase Retail in Loan Mix1

Cost of Credit Risk2

Expenses in line with Inflation3

Break even in Colombia4

Realized Expected

5.5%6.0% 8.0%

0.7% 0.8%

0.8%

2.2%

Ch$ 7.6 bn

+89 bp

Dic-17 Dic-18

32.5% 33.3%

2.6%

Ch$ 0

1 – Retail loans refers to Mortgage and Consumer loan ; 2 – Net provision for credit & counterparty risks. ; 3 – Adjusted Non-Interest Expenses. ; 4 – Managerial Net Income Attributable to Shareholders.

36

Financials | Managerial Return on Tangible Equity

2.2%3.4%

11.0%

0.1%0.2%

0.8%

2016 2017 2018

6.2% 5.8%

13.3%

0.4% 0.4%

1.0%

2016 2017 2018

Itaú Corpbanca Itaú Corpbanca Chile

37

Financials | Loan Growth

Loan Growth (YoY ; %)

6.0% 8.0%

Forecast: Loan Growth

5.5%Realized

Non-Core Portfolio

in b illion of Chilean pesos

Dec-18Legal Day

OneVar ($) CAGR (%)

CAGR (%)

Financial

System

Commercial (core) 10,975 9,803 1,172 4.2% 6.3%

Commercial (non-core) 225 1,916 (1,691) -54.1% n.a.

Mortgage 3,853 3,289 563 5.9% 9.6%

Consumer 1,751 1,314 437 11.0% 9.1%

Total 16,804 16,323 481 1.1% 7.1%

Total (ex non-core portfolio) 16,579 14,406 2,173 5.2%

9,803 10,975

1,916 225

3,289 3,853

1,314 1,751

16,323 16,804

Legal Day One Dec-18

Commercial (core) Commercial (non-core) Mortgage Consumer

5.5%4.2%

6.0%

13.4%

-10%

-5%

0%

5%

10%

15%

20%

Total Loans Commercial Mortgage Consumer

38

Financials | Portfolio MixForecast: Increase Retail in Loan Mix

89 bpRealized

Portfolio Mix (%)

67.5%

22.8%

9.7%

2017

Retail: 32.5%

Retail: 33.3%

Market Share (Dec.2018)

7.1%

Commercial

Mortgage

Consumer

8.0%

12.2%

Total Loans

10.0%

+22 bp

-26 bp

-71 bp

-43 bp

Share 12-

months

+89 bp

66.7%

22.9%

10.4%

2018

39

Financials | Cost of Credit Risk and Credit Quality0.7% 0.8%

Forecast: Cost of Credit Risk

0.8%Realized

Cost of Credit Coverage

Non Perfoming Loans (90+ days)

70.3 108.2

30.4 26.0 28.6 48.1

3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18

239.4

133.0

2017 2018

1.8%

2.7%

0.8% 0.6% 0.7%1.2%

1.5%

0.8%

In Ch$ Billion

239,4

133,0

2017 2018

Cost of Credit Risk

108%102% 100%

105%

124% 127%

2.0%

2.1% 2.1%2.2% 2.1% 2.1%

Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18

NPL90 Coverage Provisions / Loans

Commercial (exStudent Loans) Mortgage Consumer

1.4%

1.8% 1.8% 1.8%1.6%

1.4%


2.0% 1.9%1.8%

1.5%

1.8% 1.7%


2.4%

2.1%1.9%

1.8% 1.7% 1.7%


40

Financials | Compared Evolution of Total Expenses

15.6%

7.4%

19.1%

8.1%

16.1%

5.3%

1.4%3.0% 2.2%

18.9%

3.0%

8.1% 8.4%

16.3%

8.3%

4.5% 5.4%

8.1%

2010 2011 2012 2013 2014 2015 2016 2017 2018

Itaú CorpBanca Chile Chilean Financial System

Average: 11.9% ; 10.5%

Average: 2.2% ; 6.0%

Adjusted Non-Interest Expenses annualized growth (%)

Forecast: Expenses in line with Inflation

2.2%Realized

2.6%

In millon of Chilean Pesos 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Total Non-Interest Expenses - Itaú CorpBanca1 220 255 275 402 545 732 736 801 766 791

(-) Itaú CorpBanca Colombia - - - (74) (191) (290) (253) (253) (274) (273)

Total Non-Interest Expenses - Itaú CorpBanca Chile 220 255 275 328 354 441 483 548 492 518

(-) Credit risk related provisions2 (3) (4) (4) (6) (4) (4) (2) (11) (9) (16)

(-) Non-recurring expenses - - - - - (32) (54) (101) (31) (39)

(-) Depreciation y amortization3 (10) (12) (14) (16) (20) (22) (24) (26) (29) (32)

Adjusted Non-Interest Expenses - Itaú CorpBanca Chile 207 239 257 306 331 384 404 410 422 432

Annual growth rate 15.6% 7.4% 19.1% 8.1% 16.1% 5.3% 1.4% 3.0% 2.2%

Adjusted Non-Interest Expenses - Chilean Financial System 2,254 2,680 2,761 2,983 3,233 3,760 4,073 4,255 4,484 4,848

Annual growth rate 18.9% 3.0% 8.1% 8.4% 16.3% 8.3% 4.5% 5.4% 8.1%

1 – Includes commissions expenses, personnel expenses, administrative expenses, depreciation and amortization, impairment charges and other operational expenses. All data is Proforma 2 – Consisting of provisions for assets received in lieau of payment and provisions for

Country risk. 3 – Does not include amortization of intangibles generated through business combination, already considered as a non-recurring expense. 41

Financials | Estimated Synergies Captured to Date

207 239 257

306 331

384 404 410 422 432

6 12 9

2009 2010 2011 2012 2013 2014 2015 aumento 2016 aumento 2017 aumento 2018

207 239 257

306 331 384 404 422 445

481 18

23 36

2009 2010 2011 2012 2013 2014 2015 aumento 2016 aumento 2017 aumento 2018

≠12 10

Ch$ 49 billion or US$ 76 million1 in synergies

captured in the first three years

Adjusted Total Expenses evolution – actual1 (Ch$ Bln)

Adjusted Total Expenses evolution – System growth rates1 (Ch$ Bln)

≠

+1.4% +3.5%

+4.6%+5.6%

27≠

+2.2%

+8.1%

Forecast: Expenses in line with Inflation

2.2%Realized

2.6%

1 – Exchange rate of Ch$ 651.79 / 1 US$, as of February 28th, 2019As presented in our April 21st, 2016 Investor Update Conference Call to discuss different topics of the merger.

42

Financials | Liquidity Risk

Regulatory Liquidity: Mismatch vs. Peers in Chile

Ch$ BnLímit

Capital

Básico¹

Total gap -

30 days

Total gap -

90 days

Total gap -

30 days

Total gap -

90 days

Peer-A 100% 3,304 1,421 2,032 43% 31%

Peer-B 100% 3,187 885 2,605 28% 41%

Peer-C 100% 3,407 707 1,801 21% 26%

Estado 100% 1,693 1,151 2,384 68% 70%

Itaú CorpBanca (Chile only) 100% 3,325 1,109 1,349 33% 20%

a

Adjusted liquidity gap Use of limit

Itaú CorpBanca has lowest maturity mismatches compared with peers

• Liquidity: high liquidity standards are an important driver of

our balance sheet management both in Chile and in

Colombia.

BIS III Liquidity Framework – LCR2

1 – According to SBIF BIS I definitions. 2 – LCR: Liquidity Coverage Ratio calculated according to BIS III rules. Regulatory LCR ratios are still under construction in Chile.

Source: Quarterly liquidity status report as of December 31, 2018 for each bank available in the corresponding websites.

20%31%

41%26%

70%

Itaú CorpBanca(Chile only)

Peer -A Peer -B Peer-C Estado

139.2%

145.0%

70%

90%

110%

130%

150%

170%

190%

210%

04-2

016

05-2

016

06-2

016

07-2

016

08-2

016

09-2

016

10-2

016

11-2

016

12-2

016

01-2

017

02-2

017

03-2

017

04-2

017

05-2

017

06-2

017

07-2

017

08-2

017

09-2

017

10-2

017

11-2

017

12-2

017

01-2

018

02-2

018

03-2

018

04-2

018

05-2

018

06-2

018

07-2

018

08-2

018

09-2

018

10-2

018

11-2

018

12-2

018

01-2

019

LCR CH Límite LCR

43

Financials | Regulatory Capital Composition Under Current Ley General de Bancos

Notes:

1 Capital Básico = Core Capital, according to SBIF BIS I definitions; includes corresponding adjustments from merger effects of the business combination

2 Patrimonio efectivo = Regulatory Capital, according to SBIF BIS I definitions

3 BIS ratio = Patrimonio efectivo / RWA, according to SBIF BIS I definitions

Ch$ Tn*

1.04

Capital

Básico1

Subord.

BondMinority

Interest

Patrimonio

Efectivo2

Goodwill

*Data as of December 31, 2018

Source: Itaú Corpbanca consolidated balance sheet

3.32

0.22

3.42

14.7% BIS Ratio3

1.18

44

Financials | Current Regulatory Capital Ratio & Estimated BIS III Capital Ratio

Current regulatory capital ratio evolution (LGB) Estimated1 BIS III capital ratio (new LGB)

Tier I

Tier II

1 – Reflects our best estimate for the impact of the implementation of the new Banking Law in Chile. The actual impact depends on definitions still to be set by the Comision para el Mercado Financiero (CMF).

14.4% 14.7%

11 bp 6 bp 6 bp 4 bp

Sep.18 Capital Basico SubordinatedBonds

RWA Other Dec.18

10.2%

7.8%

-2.4%

+ / -

Regulatory Capital

Ratio (Dec.18)

Other Intangible Assets

/ Net Deferred Taxes

Net effect of changes

in RWA

Estimated Fully Loaded

BIS III Capital

4.5%

3.9%

-0.6%

14.7%

11.1%

45

Financials | Results in ColombiaForecast: Break-even in Colombia

Ch$ 7.6 bnRealized

Ch$ 0

40.9

(39.6)

(21.5)

7.6

2015 2016 2017 2018

Managerial Net Income NIM

Cost of Credit

Efficiency Ratio

4.0%

3.3%

3.7%

4.4%

2015 2016 2017 2018

45.2%

56.5%

62.4% 60.1%

2015 2016 2017 2018

2.3%

2.9%2.7%

2.0%

2015 2016 2017 2018

In Ch$ Billion

46

Financials | 2019 Macroeconomic Outlook

2016

GDP

Loan Growth

Inflation

Interest Rate

2017 2018 2019 2016 2017 2018 2019

1.3% 1.5%

4.0%3.2%

2.1%1.4%

2.7% 3.3%

5.6%4.5%

10.2% 8-10%12.2%

6.1% 5.8%

8-10%

2.7%

2.3%2.6% 2.6%

5.8%

4.1%3.2% 3.0%

3.50%

2.50% 2.75%3.25%

7.50

4.75%4.25%

4.50%

47

Financials | Perspectives for 2019

Loan Growth

Loan Mix1

Cost of Credit Risk2

Adjusted Non-Interest Expenses

Results from Colombia3

Expected

8.0% 10.0%

1 – Retail loans refers to Mortgage and Consumer loan. ; 2 – Net provision for credit & counterparty risks. ; 3 – Managerial Net Income Attributable to Shareholders.

0.7% 0.8%

Continued recovery in profitability

In line with inflation

Continued increasing retail in loan mix

48


2. Financials


4. Appendix

Key Strategic Drivers 2019

Growth

Culture of innovation and transformation

Efficiency and improvement of user

experience

Seamless integration from back-office to

front-office

• Segmentation model with well defined

identity and value proposition

• Development of products and a “service

culture” focused on client satisfaction and

long-term relationships

2

1

3

Digital Transformation

Client Centricity

Efficiency

5

6

Capital Generation

Colombia

Expand our presence and client base in

all business segments

Special focus on growing our Retail Bank

Further increase transactionality and

relationship within our client base

Efficiently managing capital allocation

through adequate cost of equity

Value creation and RAROC metrics and

tools as a driver throughout the organization

• Continued and sustainable rebound in

results

• Resume expansion in business volumes

• Advance with the implementation of retail

and wholesale strategies

Continuously increase the efficiency of our

operations

Drill down of the full cost allocation model to

product level

Continued focus and discipline in identifying

cost saving opportunities throughout the

institution

4

50


2. Financials


4. Appendix

Financials | Average Tangible Equity Breakdown

All other Assets: Ch$ 28,057

Ch$ 21,581

Ch $6,476

All other Liabilities: Ch$ 25,897

Ch$ 20,005

Ch$ 5,892

Asociado a Intangibles PPA: Ch$ 40

Minority Interest ex GW and PPA

Intangibles: Ch$ 190

Assets: 29,513

Liabilities: 25,980

Minority Interest: 222

4Q’18 Average Balance (Ch$ Tn)

Managerial Tangible Equity: Ch$ 1,969

Ch$ 1,574

Ch$ 395

Shareholders’ Equity: 3,311

Managerial Tang. Equity:

Recurring Results:

Recurring RoTE:

Ch$ 1,969 Ch$ 1,574 Ch$ 395

Ch$ 43.8 Ch$ 37.1 Ch$ 6.6

÷ ÷ ÷

8.9% 9.4% 6.7%

= = =

Goodwill: Ch$ 1,180

Ch$ 942

Ch$ 237

Intangibles from PPA: Ch$ 276

Ch$ 134

Ch$ 142

Deferred taxes asociated with

intangibles from PPA: Ch$ 83

Ch$ 36

Ch$ 47

Asociated w/ PPA Intangibles: Ch$ 32

GW and PPA Intangibles: Ch$ 1,341

Ch$ 1,041

Ch$ 300

52

Itaú Corpbanca | Transaction in Colombia

Itaú Corpbanca Colombia acquired assets and liabilities of Itaú BBA Colombia

Current Structure in Colombia

Itaú

Corpbanca

Itaú Corpbanca

Colombia

On June 16, 2017 Itaú Corpbanca Colombia acquired Itaú BBA

Colombia assets and liabilities1

Postponement of the date for Itaú Corpbanca to purchase the

12.36% stake of CorpGroup in Itaú Corpbanca Colombia:

‐ The postponement date to purchase is until January 28, 2022

‐ The purchase price has not changed (US$ 3.5367 per share2)

‐ Itaú Corpbanca will carry out commercially reasonable efforts to register an listing

Itaú Corpbanca Colombia in the Colombian Stock Exchange (CSE)

‐ The rational is to create a liquidity mechanism for minorities to sell the stake in the

company

Itaú Corpbanca to buy Helm stake in Itaú Corpbanca Colombia

‐ On February 28, 2019, a three-member Tribunal of the ICC ordered Helm to sell its

shares of Itaú Corpbanca Colombia, which represents 19.44% of the equity of Itaú

Corpbanca Colombia at approximately US$299 million (which includes interest at

LIBOR plus 2.7% per year running from April 1, 2016)

‐ This price of US$299 million implies a valuation multiple of 1.36 times book value of

Itaú Corpbanca Colombia as of December 31, 2018, and is consistent with the

valuations of Itaú Corpbanca Colombia in Itaú Corpbanca’s financial statements

‐ The acquisition, when completed, will result in an estimated impact of 0.82% on Itaú

Corpbanca’s Common Equity Tier 1 capital, on a fully loaded basis, under the Basel

III standards (using exchange rates as of February 28, 2019)

‐ The purchase of shares of Itaú Corpbanca Colombia by Itaú Corpbanca will be

subject to regulatory approvals in Colombia, Chile and Brazil

CorpGroupHelm

Corporation

Other

Minorities

Itaú BBA Colombia

(asset and liabilities)

66.28% 12.36% 20.82% 0.54%

Acquisition

1 Itaú Corpbanca Colombia S.A. paid Ch$33,205 million to Itaú BBA Colombia S.A Corporación Financiera; 2 This amount accrues interest from (and including) August 4, 2015 until (but excluding) the payment date at an annual interest rate equal to Libor plus 2.7%. 53

Our Bank | Itaú Corpbanca History

54

Itaú Corpbanca

LarrainVial | 13th Andean &

Southern Cone Conference

Presentation

March 19 – 20, 2019 | Santiago

larrainvial | 13th andean · 2019-04-02 · larrainvial | 13th andean & southern cone...

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