Banco Itau Chile · BCS:ITAUCL
Banco Itau Chile — Itaú Chile — Q3 2023 Earnings Presentation
23 slides from Banco Itau Chile's earnings presentation, Nov 6, 2023
Slide 1: Itaú Chile Conference Call 3Q23
ItaúChile C O N F E R E N C E C A L L 3 Q 2 3 ir.itau.cl /Itaú Chile /itauchile @itauchile
Slide 2: 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 3: Strategic Agenda: Key Pillars
Strategic Agenda Key Pillars 3Q 23 | Conference Call We are moving forward with different initiatives across our strategic pillars….. 01. Disruption 02. Customer Centricity 03. Simple and Digital 04. Innovative organization & Culture 05. Sustainable Results 3
Slide 4: Disruption
Key Pillars | Disruption We launched our Investment Center 3Q 23 | Conference Call _Service model to attract new clients through specialized investment advisory Advisors + IFA’s more than US$220mm AuM from new customers 4
Slide 5: New APV
Key Pillars | Disruption New APV 3Q 23 | Conference Call We only charge fees on the days when the funds have positive returns FM Itaú Mi Cartera Tranqui FM Itaú Mi Cartera Exploradora FM Itaú Mi Cartera Aventurera FM Itaú Mi Cartera Lanzada FM Itaú Dinámico Working for our clients in disruptive and
Slide 6: Customer centricity
Key Pillars | Customer centricity We are the most recommended bank in Chile, again 3Q 23 | Conference Call 2022 and 2023 1° 2° 3° 4° 5° 6° 7° 8° 9° 10° 2018 1° 2° 3° 4° 5° 6° 7° 8° 9° 10° Retail 2022 and 2023 1° 2° 3° 4° 5° 6° 7° 8° 9° 10° 2018 1° 2° 3° 4° 5° 6° 7° 8° 9° 10° Companies Source: Servit
Slide 7: Innovative organization & Culture
Key Pillars | Innovative organization & Culture Great Place to Work | Results 2023 We were recognized as 3Q 23 | Conference Call one of the 10 best companies to work for in Chile according to Great Place to Work We are also among the top ten companies larger than 1,000 employees as best place for wo
Slide 8: ¡Among the best!
Key Pillars | Innovative organization & Culture ¡Among the best! 3Q 23 | Conference Call We have been recognized by Employers For Youth as the 7th best company for young professionals in 2023 Top Employers Institute Certification 2023 8
Slide 9: Sustainable Finance
Key Pillars | Sustainable Results Sustainable Finance 3Q 23 | Conference Call Joint book-runner for the Republic of Chile’s two new sovereign sustainability-linked bonds (SLB) : US$2.8 bn As the first SLB of the Republic of Chile, these new bonds will also promote the reduction of greenhouse gases (
Slide 10: Delisting NYSE
Key Pillars | Sustainable Results Delisting NYSE We have decided to begin the process to terminate our ADS program 3Q 23 | Conference Call Our decision was taken in consideration of: Small representation of ADS on total common shares Low trading volumes Substantial costs of maintaining the program P
Slide 11: Track record of sustained returns
Key Pillars | Sustainable Results Track record of sustained returns Return on Tangible Equity Quarterly (%) Since 2021 (11 quarters)… 3Q 23 | Conference Call 3rd • 7 quarters with RoTE 1 st 29.0 2nd above 14% and top 3 25.4 2nd 3rd 2nd 24.0 among peers 3rd 4th 20.5 21.6 4 th 19.8 17.2 17.8 17.1 3rd
Slide 12: Highlights
Key Pillars | Sustainable Results 3Q23 | Highlights Low UF variation with MPR still over UF – Unidad de Fomento(1) (∆ value) 10% and credit activity slowing Quarterly (%) down 3Q 23 | Conference Call 4.22% 3.50% 2.36% 2.47% 1.32% 1.44% Banking Industry Loans 0.30% (12-month growth) 1Q '22 2Q'23 3Q'2
Slide 13: Highlights
Key Pillars | Sustainable Results 3Q23 | Highlights 3Q23 vs. 3Q22 change Recurring Net Income 3Q 23 | Conference Call Financial margin Commissions and Non-interest Cost of credit 3Q23 with clients fees expenses Consolidated Ch$70.9 Bn 39.4 % Ch$ 335.1 billion Ch$ 45.7 billion Ch$ 176.0 billion Ch$ 8
Slide 14: Financial margin with Clients
Key Pillars | Sustainable Results 3Q23 | Financial margin with Clients Financial margin with Clients Annualized average rate Ch$ billion 5.9% 3Q 23 | Conference Call 0.9% 11.2% 11.3% 11.3% 9.9% 10.4% 253.2 247.8 245.5 238.2 3.4% 3.6% 3.4% 3.4% 3.4% 234.1 3Q´22 4Q´22 1Q´23 2Q´23 3Q´23 3Q´22 4Q´22 1Q´
Slide 15: Financial margin with the Market
Key Pillars | Sustainable Results 3Q23 | Financial margin with the Market Quarterly evolution UF 1 net exposure (Ch$ trillion) 3Q 23 | Conference Call In Ch$ billion 1.4 44.0 44.4 1.0 0.0 0.2 39.2 47.1 -0.7 26.5 30.5 19.7 sep-22 dec-22 mar-23 jun-23 sep-23 16.2 12.4 UF – Unidad de Fomento1 (∆ value)
Slide 16: Commissions and fees
Key Pillars | Sustainable Results 3Q23 | Commissions and fees Fees for key business lines Commissions and fees In Ch$ billion 3Q 23 | Conference Call Asset Management 17.0% In Ch$ billion 3Q23 2Q23 3Q22 Insurance Brokerage (excl. Cardif Alliance) 9.3 8.4 10.1% 11.4 -18.9% Credit Operations and Guara
Slide 17: Cost of credit and credit quality
Key Pillars | Sustainable Results 3Q23 | Cost of credit and credit quality Cost of credit In Ch$ billion 1.1% 1.1% Coverage ratio 3Q 23 | Conference Call 1.5% 1.1% 1.4% 1.4% 0.8% 172% 164% 166% 86.6 1.0% 1.1% 194.3 160% 78.3 76.5 186.2 156% 167.3 57.4 60.5 125.6 3.2% 3.3% 3.1% 3.1% 3.1% 3Q'22 4Q'22
Slide 18: Non-interest expenses
Key Pillars | Sustainable Results 3Q23 | Non-interest expenses In Ch$ billion Headcount 3Q 23 | Conference Call 3Q23 2Q23 3Q22 Total - 678 -12% Personnel (62.5) (62.9) -0.6% (61.0) 2.5% HC Administrative (56.4) (57.0) -1.0% (59.6) -5.3% Total Personnel and Administrative (118.9) (119.9) -0.8% (120.5
Slide 19: Highlights
Key Pillars | Sustainable Results 3Q23 | Highlights Growth (%) | 12-month We have growth in the consumer Sustained segment while maintaining a solid 3Q 23 | Conference Call growth above Consumer loans NPL (%) ratio among peers 10.5% 4.0% market in System consumer loans Outperformance Demand deposits
Slide 20: Colombia summary
Key Pillars | Sustainable Results 3Q23 | Colombia summary Strong liquidity and capital ratios to ensure resilience during period of economic stress 3Q 23 | Conference Call LCR (IRL) Solvency ratio Quarterly (%) Consolidated 278.9% 265.1% 243.3% 248.1% 231.8% 15.2% 13.9% 14.0% 13.9% 12.3% 12.5% 12.6%
Slide 21: Solvency & Liquidity ratios
Key Pillars | Sustainable Results 3Q23 | Solvency & Liquidity ratios Solvency ratio 3Q 23 | Conference Call We are CET 1 Current Transition BIS III Capital Ratio 13.5% 10.8% 10.6% 10.7% 9.8% among the most Peer A Itaú Chile Itaú Chile Peer B Peer C capitalized and liquid Consolidated Liquidity Ratio
Slide 22: Key Messages
Key Pillars | Sustainable Results Key Messages 3Q 23 | Conference Call 01. Strong track record of returns demonstrating 03. Simplification through NYSE delisting convergence with peer bank returns as well as sustainability of results 02. Initial signs of progress in our 04. Resilience through princi
Slide 23: ir.itau.cl /Itaú Chile /itauchile
ir.itau.cl /Itaú Chile /itauchile @itauchile