Banco Itau Chile · BCS:ITAUCL
Banco Itau Chile — Itaú Chile — Q4 2024 Earnings Presentation
25 slides from Banco Itau Chile's earnings presentation, Mar 3, 2025
Slide 1: 4Q 2024 Results Conference Call
ItaúChile 4Q 2024 Results Conference Call March 3, 2025 ITAUCL ir.itau.cl /Itaú Chile /itauchile @itauchile Volcán Villarrica | Región de la Araucanía
Slide 2: 4Q24 | Macroeconomic Environment
4Q24 | Macroeconomic Environment UF 1 – ∆ value Quarterly (%) Banking Industry Loans 2 (12-month growth) 1.6% 1.3% 1.3% 0.8% 0.9% Itaú Chile | Conference Call 4Q'24 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 4.1% Average Monetary Policy Interest Rate (MPR) Quarterly (%) mar-22 jun-22 sep-22 dec-22 mar-23 jun-23
Slide 3: 4Q24 | Colombia
4Q24 | Colombia Monetary Policy Interest Rate (MPR) – Average Exchange Rate Quarterly change (%) COP$ / US$ 4,404 Itaú Chile | Conference Call 4Q'24 13.2% 12.7% 4,154 4,177 11.9% 10.9% 9.8% 3,855 3,853 Dec’23 Mar’24 Jun’24 Sep’24 Dec’24 Dec’23 Mar’24 Jun’24 Sep’24 Dec’24 Inflation (CPI) Quarterly ch
Slide 4: Macroeconomic Outlook
Macroeconomic Outlook Itaú Chile | Conference Call 4Q'24 2024(e) 2025(e) 2024(e) 2025(e) GDP 2.5% 2.3% 1.7% 2.3% Inflation 4.5% 4.1% 5.2% 4.5% MPR1 5.0% 5.0% 9.5% 8.0% 1 Monetary Policy Interest Rate. 1Forecast by Itaú Chile macroeconomic team as of February 2024. 4
Slide 5: Building upon our transformation
Building upon our transformation Steady growth in transactional products: Slow industry’s loan growth trend in 2024… Volume Growth (%) | 12-month Loans Growth Loan growth (%) | 12-month (%) | 12-month trailing Itaú Banking industry System 1st Itaú Chile | Conference Call 4Q'24 Total 2.1% 4.1% 2nd Co
Slide 6: Building upon our transformation
Building upon our transformation Deposits and Current Account Balances AuM Volume Growth (%) | 12-month Volume Growth (%) | 12-month System Demand Deposits Total 16.3% 6.7% 88.1% via Web Itaú Chile | Conference Call 4Q'24 System Market in 4Q24 /2 +50pb Share Individuals 9.4% 5.7% AuM3 56.9% 36.4% Co
Slide 7: Building upon our transformation
Building upon our transformation Growing significantly in products and services tailored to best serve our customers … Spot and Derivatives Markets1 Market Share (%) | Stock by the end of period + 415bp Foreign Trade Itaú Chile | Conference Call 4Q'24 + 866bp 64 Volume Growth (%) | 12-month Leader %
Slide 8: Building upon our transformation
Building upon our transformation Continued positive trend in our margin with clients… … navigating a challenging risk environment… 9.1% Non-performing Loans (90+ days -%) 7.6% 3.2% 3.3% 3.4% 2.9% 6.3% 2.8% NPL Total 5.7% 2.5% 2.6% 2.4% Commercial 5.3% 2.4% 2.3% 2.2% Itaú Chile | Conference Call 4Q'2
Slide 9: Customer Centricity
Customer Centricity within our most valuable distinguishing factors Maintaining and enhancing our leadership in customer satisfaction in all segments1 Quality of attention Itaú Chile | Conference Call 4Q'24 TOP 1 Retail 2022, 2023, 2024 Website and App TOP 2 SME 2024 Solution and response TOP 1 Comp
Slide 10: Brand and Culture
Brand and Culture within our most valuable distinguishing factors …with a recognizedly strong culture within our unique Itaú Chile | Conference Call 4Q'24 value propositions, guiding us to achieve our goals The largest financial institution with the most valuable brand in Latin America, deepening it
Slide 11: Sustainability
Sustainability within our most valuable distinguishing factors S&P Global CSA Score2 Outperformed Chilean banking industry in +10 1 • Business ethics (1st) For the 6th consecutive year, Industry | Financial inclusion (1st) Governance, constituent of the Dow Jones Average • Sustainability Index MILA
Slide 12: Costs Control
Costs Control within our most valuable distinguishing factors Non-interest expenses Personnel Growth (yoy %) Itaú Banking industry Basis 100 = Dec.22 14.0% Itaú Banking industry Average Peer Group1 114.8 11.8% 8.1% 109.2 3.1% Itaú Chile | Conference Call 4Q'24 108.2 1.2% -0.8% 104.6 2022 2023 2024 1
Slide 13: Capital
Capital within our most valuable distinguishing factors CET1 Fully loaded Information on peers and Itaú Chile as of Dec′24 14.2% Itaú Chile | Conference Call 4Q'24 13.4% 10.4% 10.6% 10.3% 10.9% 10.5% 10.7% 10.6% 10.3% Δ CET1 (YoY) 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 Peer A Itaú Chile C
Slide 14: 4Q24 | Results Highlights
4Q24 | Results Highlights 4Q′24 vs. 4Q′23 change Financial margin Commissions Non-interest Non-interest with clients and fees2 expenses expenses1 1 Cost of credit Recurring Itaú Chile | Conference Call 4Q'24 Net Income Ch$ 335.3 billion Ch$ 56.5 billion Ch$ 204.6 billion Ch$ 77.4 billion 4Q’24 2024
Slide 15: 2024 Guidance vs. Actual
2024 Guidance vs. Actual 4Q24 | Financial margin with Clients Financial Margin with Clients: Stable as interest rates decline ✓ Financial margin with Clients Annualized average rate In Ch$ billion -2.7% Financial margin with Clients Average MPR 9.1% 7.6% Itaú Chile | Conference Call 4Q'24 +0.8% 6.3%
Slide 16: 4Q24 | Financial margin with the Market
4Q24 | Financial margin with the Market Quarterly evolution UF 1 net exposure2 In Ch$ billion In Ch$ trillion 1.4 1.1 0.9 Itaú Chile | Conference Call 4Q'24 27.8 26.7 0.6 24.0 20.8 18.6 48.3 -0.3 dec-23 mar-24 jun-24 sep-24 dec-24 24.8 21.4 UF 1 ∆ value 1.6% 1.5 1.3% 1.3% 0.8% 0,9% -0.1 4Q'23 1Q'24
Slide 17: 4Q24 | Commissions and fees
4Q24 | Commissions and fees Commissions and fees1 Increasing the share of income from key In Ch$ billion 4Q24 3Q24 4Q23 services associated to Insurance Brokerage 8.4 6.8 24.7% 9.7 -13.0% our principality Itaú Chile | Conference Call 4Q'24 Credit Operations and Guarantees Provided 10.0 9.9 1.1%
Slide 18: 2024 Guidance vs. Actual
2024 Guidance vs. Actual 4Q24 | Cost of Credit Cost of Credit Risk: 1.3% Between 1.1% and 1.5% ✓ Cost of credit QoQ improvement in commercial and consumer In Ch$ billion NPLs… 1.5% 1.4% 1.4% 1.4% Itaú Chile | Conference Call 4Q'24 3.4% 3.4% 1.2% 3.3% 3.1% 3.1% 83.0 80.2 78.4 79.8 45 68.0 2.1% 2.2% 2
Slide 19: 4Q24 | Non-interest expenses
2024 Guidance vs. Actual 4Q24 | Non-interest expenses Non-Interest Expenses: below inflation ✓ In Ch$ billion 4Q24 3Q24 4Q23 Non-Interest Expenses In Ch$ million Itaú Chile | Conference Call 4Q'24 Personnel 65.2 62.0 5.3% 65.1 0.2% 39,883 50,285 59,929 Administrative 68.9 57.7 19.3% 71.2 -3.3% 8
Slide 20: 4Q24 | Capital
4Q24 | Capital CET1 Fully loaded Information on peers and Itaú Chile as of Dec′24 Peers +79 bp +53 bp We have maintained a solid +30 bp +15 bp capital position, with a margin Δ CET1 -33 bp Itaú Chile | Conference Call 4Q'24 (QoQ) +39 bp with respect to regulatory +17 bp +20 bp -28 bp -18 bp minimums
Slide 21: Robust capital and liquidity
Robust capital and liquidity 4Q24 | Colombia ratios in comparison to Peers and the System RoE1 LCR - NSFR3 7.8% 8.6% 7.6% 8.0% 7.8% RoE improved Liquidity Coverage Ratio (LCR)4 2.6x vs. 2023, 382% 269% due to our focus Itaú Chile | Conference Call 4Q'24 2.3% 1.5% 1.6% 2.2% 2.4% 179% 194% 167% 184% o
Slide 22: Guidance 2025
Guidance 2025 Expected Guidance 2025 Loan Growth Mid single digit Itaú Chile | Conference Call 4Q'24 Financial Margin with Clients Stable as interest rates decline Average rate Commissions Between 5.0% – 10% Cost of Credit Risk1 Between 1.0% - 1.3% Non-interest expenses Below inflation RoTE Between
Slide 23: 4Q24 | Key messages
4Q24 | Key messages Itaú Chile | Conference Call 4Q'24 Despite the industry’s low growth in loans in 2024, we were able to maintain the loans mix which we are pursuing since the deployment of our transformational path. We have shown strong results in growth in transactional products, in our focus to
Slide 24: Disclaimers
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, legal, tax or other advice.
Slide 25: ir.itau.cl /Itaú Chile /itauchile
ir.itau.cl /Itaú Chile /itauchile @itauchile ITAUCL