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Banco Crédito e Inversiones
CorporatePresentation 2014
September 2014
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
Content:1. Chilean Macro-economic Environment
Corporate Presentation 2013Corporate Presentation 2014
2. Chilean Financial System3. Banco de Crédito e Inversiones
2
Chilean macro-economicenvironment
Corporate Presentation 2013Corporate Presentation 2014
5,8 5,85,4
4,1
2,1
3,2
Macro-economic environment
10,8
8,9
6,0 5,6
2,2
3,9
Private consumption (% YoY growth)GDP (% YoY growth)
Corporate Presentation 2013Corporate Presentation 2014
2010 2011 2012 2013 (e) 2014 (e) 2015 2010 2011 2012 2013 (e) 2014 (e) 2015
12,214,4
12,2
0,4
-4,9
2,3
2010 2011 2012 2013 (e) 2014 (e) 2015
Investment (% YoY growth)
2,3
5,5
1,1
4,32,8 3,7
25,9
15,6
5,02,2
-4,2
3,4
2010 2011 2012 2013 (e) 2014 (e) 2015
Exports Imports
Exports and Imports (% YoY growth)
Source: Central Bank of Chile and Bci (September 2014)4
Macro-economic environment
510,38 483,36 486,75 495,00
595,00 610,00
Exchange rate (Ch$/USD)Commodities
3,44,0
3,6 3,3 3,1 3,0
79,4
95,1 94,2 97,9 94,3 92,6
50,0
100,0
2,0
4,0
6,0
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3,0
4,4
1,5
3,0
4,6
2,9
2010 2011 2012 2013 (e) 2014 (e) 2015
Inflation (YoY variation of Consumer Price Index – IPC)
3,25
5,25 5,004,50
3,00 3,25
2010 2011 2012 2013 (e) 2014 (e) 2015
Central Bank monetary policy rate
2010 2011 2012 2013 (e) 2014 (e) 2015
Source: Central Bank of Chile and Bci (September 2014)
0,00,02010 2011 2012 2013 (e) 2014 (e) 2015
Copper (US$/lb) Crude Oil WTI (US$/Barrel)
5
Chilean Financial System
98.921
111.973
122.074
117.576
125.558
161.929
181.641
200.237190.917
208.479
Financial System: strong growth overthe years
11,2%
Total Loans Financial System*(US$ million)
11,1%
Corporate & Interbank lending Financial System*(US$ million)
6,8%9,2%
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20.864
23.331
26.655
24.230
27.513
2011 2012 2013 2Q 2013 2Q 2014
Consumer lending Financial System*(US$ million)
2011 2012 2013 2Q 2013 2Q 20142011 2012 2013 2Q 2013 2Q 2014
39.944
44.281
49.272
46.301
53.216
2011 2012 2013 2Q 2013 2Q 2014
7
13,0%11,1%
Mortgage Financial System*(US$ million)
Source: Superintendencia de Bancos e Instituciones Financieras de Chile (SBIF) - *Excluding Corpbanca investments in ColombiaFigures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)
13,6% 15,0%
Healthy and well capitalizedFinancial System
13,9% 13,3% 13,3% 13,2% 13,5%
Capital Base Financial System (Regulatory capital/Risk weighted assets)
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
Source: Superintendencia de Bancos e Instituciones Financieras de Chile (SBIF)Basic capital : paid-in capital + reservesRegulatory capital= Basic capital (paid-in capital + reserves) + subordinated bonds + voluntary allowances for loan losses
2,37%
2,20%2,12%
2,20% 2,19%
2011 2012 2013 2Q 2013 2Q 2014
10,1% 9,9% 9,6% 9,8% 9,7%
2011 2012 2013 2Q 2013 2Q 2014NPL Ratio Financial System
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Banco Crédito e Inversiones
Profitable and financially sound
US$ * Market Share**
$639 MNet Income *** 15.38%
Total Net Loans $26,629 M 12.91%
Total Assets $39,404 M
Market
June 2014- Highlights Main Awards and Recognitions
1st place in Chile 2014
• Banking group (Third year)• Private Banking (Third year)
1st place 2013Corporate Transparency(Second year)
Local dynamosAmong the 50 most successful local companies in Emerging Markets 2014The Boston Consulting Group (BCG)
1st place 2014Customer Experience (second year)IZO
6th place 2013Best companies for working parentsFundación Chile Unido
4th place 2013Most Innovative Companies in ChileESE Business School- U. de los Andes
*Figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014) ** Excluding Corpbanca investments in Colombia***Last 12 months income ended June 2014. This takes the monthly average equity and assets of the last 12 months.
MarketCapitalization $6,226 M
9.85%
Basic capital Total Capital
Capital ratios 13.91%
International Credit Rating
Moody’s S&P Fitch
ROAE*** 22.5%
A1 A A-
15th place 2013Best Companies to work for in ChileGreat Place to Work
10
ROAA*** 1.7%
1st place 2014Customer Satisfaction- Large banks (second year)Procalidad/Capital
• Private Banking (Third year)•Sustainable Banks• Asset Management (Second year)
Shareholders and CorporateGovernanceShareholder structure as of June 2014
29.37%
63.86%
ShareholderAgreement Pension
Board ofDirectors
Luis Enrique Yarur Rey (President) 1991Andres Bianchi Larre (Vicepresident) 2007Juan Manuel Casanueva Préndez 2007Dionisio Romero Paoletti 2010Francisco Rosende Ramírez (I) 2010José Pablo Arellano Marín 2011Mario Gómez Dubravcic 2011Máximo Israel López (I) 2013Juan Ignacio Lagos Contardo 2013
Free Float
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Empresas Juan Yarur S.A.C.
6.77%
Agreement PensionFunds
Related to the Yarur family since itsfoundation in 1937
55.08%
Controlling Shareholder
Management Commitees:• Higher Management• Strategic Planning• Assets & Liabilities (ALCO)• Operational Risk• Technology• Credit
CEO
Juan Ignacio Lagos Contardo 2013
Lionel Olavarría 1993
Corporate Governance Committees: • Board Executive Committee• Directors Committee• Finance and Corporate Risk Committee• Corporate Governance and Corporate Social ResponsibilityCommittee
• Compensation Committee
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• Money Laundering• Information System Security• Human Resources Management
Diversification throughan effective segmentation
SMEsCommercial
Banking
Corporate & Investment
Banking (CIB)Retail Banking
Revenues > UF 80.000(up to US$ 65.4 million*)
Individuals Revenues < UF 80.000(up to US$ 3.5 million*)
Corporate and PrivateBanking
Bci
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014 12*Figures are converted to US$ using an FX of USD/CLP of 550.6 and UF value of $24,023 (June 30th 2014)
As of June 30th 2014 Retail Banking SMEsCommercial
BankingCIB Total Segments
MM$Net interest income 147.362 55.944 78.153 106.723 388.182Net service fee income 56.712 14.527 13.492 13.426 98.157Other operating income 12.201 3.490 13.911 35.194 64.796Total operating income 216.275 73.961 105.556 155.343 55 1.135
Provisions for loan losses -45.565 -21.064 -14.363 -13.706 -94.698Net operating income 170.710 52.897 91.193 141.637 456.4 37
Total Operating Expenses -114.425 -28.437 -35.993 -36.282 -215.137
OPERATING INCOME BY SEGMENT 56.285 24.460 55.200 105.355 241.30026% 13% 25% 36% 100%
National and internationalpresence
NORTHRegions I to IV and XV57 CCP47 branches
CENTERRegions V, VI and RM
Presence in 6 countries373Nacional Commercial Contact Points (CCP):
Branches: 311
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Miami Branch + (**
Representation office in Mexico City
Representation office in Lima, Peru
Representation office in Sao Paulo, Brazil
Representation office in Bogotá, Colombia
Business Desk in Madrid, Spain
* Pending US regulatory approval
SOUTHRegions VII to XII and XIVAntartic included78 CCP66 branches
Regions V, VI and RM238 CCP198 branches
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Leadership in customer experienceBci ´s Strategy
1st place in Customer satisfaction* (Snex)
2nd place in Recommendation* (NPS)
Retail
Commercial 1st place in Customer satisfaction Bci - Real Estate Banking**
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Corporate
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* Results based on surveys conducted by Servitest-Ipsos (Snex and NPS) . Category: Large banks
** Results based on a survey conducted by Brainetwork
*** Results based on surveys conducted by Servitest-Ipsos
1st place in Customer satisfaction (Relationship managers)**
1st place in Reccomendation (Relationship managers)**
1st place complete assesment (Banks)***
1st place complete assesment (Relationship managers)***
1st place in Customer satisfaction (Sales & Trading)**
Others, 36,0 %
12,91%
18,41%
19,18%64,0%
BCI
Banco de Chile
Santander
Banco Estado
3rd largest privately owned bankin Chile
Total Loans Market Share* Net Income Market Share (LTM)*
Others, 28,4 %
15,38%
25,11%
25,27%
71,6%
BCI
Banco de Chile
Santander
Banco Estado
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13,47%Banco Estado
Source: SBIF - * Figures as of June 2014, excluding Corpbanca’s acquisition in Colombia
Shareholder’s Equity Market Share
25,27%
5,83%
Banco Estado
NIBD Market share*
Others, 22,1%
14,98%
23,02%
21,23%
18,64%
77,9%
BCI
Banco de Chile
Santander
Banco Estado
15
Others, 44,6%
12,12%
17,42%
17,90%
7,93%
55,4%
BCI
Banco de Chile
Santander
Banco Estado
Sustained and profitable growth
Net Earnings growth and Market Share*(US$ Million)
20.66423.697
26.19624.639
26.629
12,94% 13,20% 13,23% 13,10% 12,91%13,0%
14,0%
15,0%
16,0%
17,0%
18,0%
19,0%
20,0%
10000
15000
20000
25000
30000
Loan Portfolio growth and Market Share*(US$ Million)
12,6%CAGR
475 493545
210
30415,21%
16,98% 16,15%14,94%
13,91% 13,0%
14,0%
15,0%
16,0%
17,0%
18,0%
19,0%
20,0%
200
300
400
500
600
8,1%
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Time Deposits and NIBD (DDA)(US$ Million)
10,0%
11,0%
12,0%
0
5000
2011 2012 2013 2Q 2013 2Q 2014
10,0%
11,0%
12,0%
0
100
2011 2012 2013 2Q13 2Q14
18.019 19.689 21.119 19.991 21.443
5.7626.572
7.1216.467
7.257
2011 2012 2013 2Q 13 2Q 14
NIBD Deposits
11,2%
8,3%
Diversification
7,6%
8,2%
10,2%
11,5%12,4%
18,4%
20,9%
Telecom
FishingMining and ForestryUtilitiesAgricultureTransportationManufacturingConstructionServicesCommerceRetailOthersMortgages
0,4%1,2%
3,1%2,3%
2,1%1,7%
Source: SBIF - * Figures as of June 2014, excluding Corpbanca’s acquisition in Colombia Bci figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)
7,3%
12,2%
23,36% 24,17% 23,12% 24,76%21,46%
23,27% 22,74% 20,95% 22,76%18,94%
0,00%
5,00%
10,00%
15,00%
20,00%
25,00%
30,00%
2011 2012 2013 2Q13 2Q14
4,52% 4,21% 4,14% 3,99%4,50%
4,02% 3,78% 3,85% 3,65%4,26%
Sustained and profitable growth
NIM (%)*(Net interest margin/ average interest earning assets)
Fee income ratio (%)(Net fees/ net fees + net interest margin)
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2011 2012 2013 2Q13 2Q14
Bci Banking Sector
2011 2012 2013 2Q 13 2Q 14
Bci Banking Sector
44,9%
46,1%
43,9%45,1%
42,5%
47,6% 48,1%46,2%
47,1%
44,3%
2011 2012 2013 2Q 13 2Q 14
Bci Banking Sector
23,1%
20,6% 20,2%
18,4%
22,5%
18,8%
15,8% 16,0%
14,5%
18,4%
2011 2012 2013 2Q13 2Q14
Bci Banking Sector
ROAE (%)Efficiency ratio** (%)
* This is the average of the last 13 months for earnings assets.Interest earning assets include: Total loans, Trading portfolio financial assets, Investments under agreements to resell, Financial investments available for sale , and held –to- maturity securities .**Efficiency ratio as calculated by SBIF (operating expenses/pre-tax income including additional allowances) using YTD figures.
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International funding and differentsourcesInternational funding of recent years
Type of instrumentAmount Issued
US$ million
600
Bond
144 A bond
Syndicated Loan
2012
76
115
512 Commercial Paper*
Country/Region
Mexico
USA
Asia
USA
Term
18 months
5 years
2 years
< 1 year
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
2013
18
144 A bond
Bond
500
226
Syndicated Loan115
Bond135
Syndicated Loan150
Commercial Paper*497
* Commercial paper issued at the end of each year.
2014 Syndicated Loan125
167 Bond
USA
Switzerland
Asia
Switzerland
Global
USA
Japan
Switzerland
10 years
3 years
2 years
2 years
2 years
< 1 year
3 years
5 years
2,42%2,28%
2,30%
2,48% 2,49%
2,33% 2,27%
2,39%
2,27%2,44%
Allowances / Total Loans(Bci)
Allowances / Total Loans (Financial system)
Financial System Comparison - Risk
Conservative risk management policies
NPL Ratio (NPLs/Total Loans) %Risk Index Total Loans(Total Allowances for Loan Losses / Total Loans) %
2,33%2,06%
2,38%2,60% 2,73%2,37%
2,20%
2,12%2,20% 2,19%
NPLs / Total Loans (Bci) NPLs / Total Loans (Financial System)
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2011 2012 2013 2Q 13 2Q 14
Coverage Ratio (Allowances /NPLs)
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2011 2012 2013 2Q 13 2Q 14
112,64% 120,13% 105,14%101,84%
98,83%91,86%
107,62%
121,07%107,39%
120,04%
2011 2012 2013 2Q 13 2Q 14
Allowances / NPLs (Bci) Allowances / NPLs (Financial System)
Financial System Comparison - Risk
Conservative risk management policies
Risk Index Commercial Loans (%)Risk Index Total Loans (%)
2,42%2,28% 2,30%
2,48% 2,49%
2,33% 2,27%
2,39%
2,27%
2,44%
Allowances / Total Loans(Bci)
Allowances / Total Loans (Financial system)
2,46% 2,25% 2,39%2,56%
2,73%
2,14%2,00%
2,19%2,04%
2,30%
Commercial Allowances / Commercial Loans (Bci)
Commercial Allowances / Commercial Loans (Financial system)
Risk Index by type of credit
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
0,44% 0,39% 0,45% 0,39% 0,48%
0,94% 0,79% 0,75% 0,74% 0,67%
2011 2012 2013 2Q 13 2Q 14
Mortgage Allowances / Mortgage Loans(Bci)
Mortgage Allowances / Mortgage Loans (Financial system)
20
Risk Index Mortgage Loans (%)
2011 2012 2013 2Q 13 2Q 14
2,00% 2,04%
2011 2012 2013 2Q 13 2Q 14
5,41% 5,43% 4,92% 5,31% 4,79%
6,08% 6,36% 6,31% 6,38% 6,43%
2011 2012 2013 2Q 13 2Q 14
Consumer Allowances / Consumer Loans (Bci)
Consumer Allowances / Consumer Loans (Financial system)
Risk Index Consumer Loans (%)
Sound capital levels
13,92% 13,60% 13,44% 13,21% 13,91%
6,84% 7,04% 7,14% 7,16% 7,19%
Regulatory Capital / Consolidated Risk weighted assets
Basic Capital / Total Assets
Required by Sbif (8%)
Required by Sbif (3%)
Capital Base
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2011 2012 2013 2Q 13 2Q 14
Required by Sbif (3%)
9,39% 9,62% 9,48% 9,56% 9,85%
4,53% 3,99% 3,96% 3,65% 4,06%
13,92% 13,60% 13,44% 13,21% 13,91%
2011 2012 2013 2Q 13 2Q 14
Tier II
Core Capital
Capital Base
Value creation over the years
Simulation of long term return including corporate events (Index 100: 31-12-2008)
150
200
250
300
350
400
450
BCI
Financial
System Index
IPSA
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
2009 2010 2011 2012 2013 YTDReturn 63.8% 107.8% -9.8% 19.0% -8.1% 20.5%•Price 52.9% 99.4% -12.9% 14.4% -11.5% 14.0%•Corporateevents 10.9% 8.4% 3.1% 4.6% 3.4% 6,5%
P/B 2.14 3.86 2.57 2.42 1.98 2.18P/E 10.1 15.4 13.0 12.7 10.4 10.2
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25-09-2014
0
50
100
150
30-12-2008 30-12-2009 30-12-2010 30-12-2011 30-12-2012 30-12-2013
IPSA
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“This presentation contains forward-looking statements in various places throughout therein, related to, withoutlimitation, our future business development. Forward-looking information is often, but not always, identified by the
use of words such as“anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “project”, “may”, “will”, “should”, “could”, “estimate”, “predict” or similar words suggesting future outcomes or language suggesting an outlook. While these forward looking
statements represent our judgment and future expectations concerning the development of our business, a number
Thank you
“
Corporate Presentation 2013Corporate Presentation 2014Corporate Presentation 2014
statements represent our judgment and future expectations concerning the development of our business, a numberof risks, uncertainties and other important factors could cause actual developments and results to differ materiallyfrom our plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking
statements. The risk factors and other key factors that we have indicated in our past and future filings andreports, including those with local or foreign authorities, could adversely affect our business and financialperformance.
The information contained herein is subject to, and must be read in conjunction with, all other publicly availableinformation, including relevant document published by Banco de Crédito e Inversiones (“BCI”) or any of its related
companies.
The forward-looking statements represent our views as of the date of this presentation and should not be relied uponas representing our views as of any date subsequent to the date of this presentation. We undertake no obligation toupdate any of these statements.
Recipients of this presentation are not to construe the contents therein as legal, tax or investment advice and suchrecipients should consult their own advisors in this regard. Likewise, this presentation does not constitute or formany part of any offer, invitation or inducement to sell or issue, or any solicitation of any offer to purchase orsubscribe for, any shares or other securities issued or related to BCI.
Furthermore, any liability for losses arising from the use of material contained in this presentation, whichis confidential and submitted to prior selected recipients only, is accepted by BCI or its executives, directors or
related companies. This presentation may not be reproduced (in whole or in part) to any other person, without ourprior written consent”.
%∆YoY
Operating Revenues 811,256 911,659 1,005,351 10.3% 461,115 552,824 19.9%
Provision Expenses 142,846 172,015 203,238 18.2% 109,575 125,977 15.0%
Operating Expenses 364,534 419,100 447,543 6.8% 215,686 231,708 7.4%
Income Before Taxes 312,358 327,103 362,429 10.8% 140,851 199,939 42.0%
Jun-13 Jun-14 %∆2011 2012 2013
Financial results
Ch$ Million
Pesos
Corporate Presentation 2013Corporate Presentation 2014
Net Income 261,268 271,256 300,294 10.7% 115,674 167,298 44.6%
Total Loans 11,378 13,047 14,423 10.5% 13,566 14,662 8.1%
Total Assets 16,110 17,996 20,299 12.8% 18,481 21,696 17.4%
Total Deposits 9,922 10,841 11,628 7.3% 11,007 11,806 7.3%
Equity 1,222 1,420 1,582 11.4% 1,474 1,657 12.4%
Ch$ Thousand Million
24
%∆YoY
Operating Revenues 1,473 1,656 1,826 10.3% 837 1,004 19.9%
Provision Expenses 259 312 369 18.2% 199 229 15.0%
Operating Expenses 662 761 813 6.8% 392 421 7.4%
Income Before Taxes 567 594 658 10.8% 256 363 42.0%
2011 2012 2013 Jun-13 Jun-14 %∆
Financial results
US$ Million
Dollar US$
Corporate Presentation 2013Corporate Presentation 2014
Net Income 475 493 545 10.7% 210 304 44.6%
Total Loans 20,665 23,696 26,195 10.5% 24,639 26,629 8.1%
Total Assets 29,259 32,684 36,867 12.8% 33,565 39,404 17.4%
Total Deposits 18,020 19,689 21,119 7.3% 19,991 21,442 7.3%
Equity 2,219 2,579 2,873 11.4% 2,677 3,009 12.4%
US$ Million
25
Figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)