Banco Itau Chile · BCS:ITAUCL
Banco Itau Chile — Itaú Chile — Q2 2024 Earnings Presentation
22 slides from Banco Itau Chile's earnings presentation, Aug 1, 2024
Slide 1: 2Q 2024 Results Conference Call
ItaúChile 2Q 2024 Results Conference Call August 1, 2024 ITAUCL ir.itau.cl /Itaú Chile /itauchile @itauchile Embalse El Yeso | Región Metropolitana
Slide 2: Our management model
Our management model • +300 OKRs/ KPIs consistent with our strategic levers • Targets and incentives Our management model involves aligning vision, objectives and incentives WHAT aligned to our OKRs OKRs throughout the Bank itubers culture Itaú Chile | Conference Call 2Q'24 Customer Product- Operati
Slide 3: Growth Investments
Growth Investments AUM Growth Market Share1 Non-interest Non-interest YTD LTM YTD LTM Itaú Chile | Conference Call 2Q'24 expenses 1 expenses 1 NPS Wealth Management Advisors +31.7% +77.6% +0.54% +1.25% 78pb (+11pb growth in 2024) 1st 1st 2nd 1st AuM growing more than the market YtD 31.7% IA 129% AUM
Slide 4: Growth Itaú Corporate
Growth Itaú Corporate Our business Corporate Logo Lead Table (EMA to make your business grow Corporate and Investment Banking enviará) M&A1 US$ 400 mm US$ 850 mm US$ 1.2 bn Ranked: 3 Advisor to LAP and its shareholders Patria and Advisor to Falabella in the sale of its Peruvian Deal Financial Adviso
Slide 5: Key Capabilities Corporate
Key Capabilities CORPORATE Technology New digital platform for RETAIL Corporate Clients Improved customer experience Itaú Chile | Conference Call 2Q'24 Facilitates clients’ operations Improving corporate clients’ experience Client Management Platform PRODUCT DEVELOPMENT New Digital Platform for comm
Slide 6: Key Capabilities Culture & Talent
Key Capabilities Culture & Talent Attracting and developing talent are key levers of our culture and growth strategy Sustainability Providing transparency on our climate ambition with PCAF methodology1 Certified by Equidad CL as one of the Best Companies for Interns best places to work LGBT+2! in Ch
Slide 7: Macroeconomic Environment
2Q24 | Macroeconomic Environment UF – Unidad de Fomento1 (∆ value) Continued slow growth in lending activity while demand Quarterly (%) 4.2% deposits recover 3.5% Banking Industry Loans 2 2.4% 2.5% (12-month growth) 1.3% Itaú Chile | Conference Call 2Q'24 1.3% 1.4% 1.6% 0.8% 14.4% 0.3% 1Q'22 2Q'22 3
Slide 8: Results Highlights
2Q24 | Results Highlights Sustainedly among the Top 3 in RoTE in Chile… … steady growth in clients’ deposits and enhancing relationship with clients through our offering in investments… RANKING 2nd 2nd 3rd 2nd 3rd 89.0% POSITION1 86.0% Itaú Chile | Conference Call 2Q'24 79.4% 24.0% 74.6% 76.3% 12.8%
Slide 9: Results Highlights
2Q24 | Results Highlights 2Q24 vs. 2Q23 change Financial margin Commissions and Non-interest Non-interest expenses 1 Cost of credit Recurring with clients fees2 expenses 1 Net Income Itaú Chile | Conference Call 2Q'24 Ch$ 344.9 billion Ch$ 51.6 billion Ch$ 186.9 billion Ch$ 102.0 billion 2Q24 + 7.8%
Slide 10: Financial margin with Clients
2Q24 | Financial margin with Clients Financial margin with Clients Annualized average rate In Ch$ billion +5.6% 11.3% 11.3% 10.4% +1.4% 9.1% Itaú Chile | Conference Call 2Q'24 270.7 7.6% 6.3% 259.2 255.7 3.4% 3.4% 3.4% 3.6% 3.3% 3.4% 245.5 247.8 238.2 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 2Q'24 1Q'23 2Q'23
Slide 11: Financial margin with the Market
2Q24 | Financial margin with the Market Quarterly evolution UF 1 net exposure (Ch$ trillion) In Ch$ billion 0.2 1.1 Itaú Chile | Conference Call 2Q'24 39.2 0.0 0.9 0.6 26.5 -0.7 19.7 18.6 17.2 12.4 mar-23 jun-23 sep-23 dec-23 mar-24 jun-24 36.8 UF – Unidad de Fomento1 (∆ value) 18.1 1.6% 16.2 1.3% 1
Slide 12: Commissions and fees
2Q24 | Commissions and fees -4.1% Increasing principality isolating one-off from Cardif in 2Q23 through growth of our Commissions and fees1 key services Itaú Chile | Conference Call 2Q'24 In Ch$ billion 2Q24 1Q24 Δ 2Q23 Δ Asset Management Insurance Brokerage 8.1 8.1 0.1% 69.1 -88.3% In Ch$ billion C
Slide 13: Cost of Credit
2Q24 | Cost of Credit Cost of credit Recoveries In Ch$ billion 25.3% 1.4% 1.5% 1.4% 1.4% 20.8% 1.2 1.4 1.1 1.4 18.6% 18.4% 1.0% 1.1% 13.0% Itaú Chile | Conference Call 2Q'24 83.0 80.2 78.4 76.5 57.4 60.5 158.5 18,655 125.7 16,620 14,400 14,025 133.8 158.5 11,289 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 2Q'24 6
Slide 14: Non-interest expenses
2Q24 | Non-interest expenses Efficiency ratio better than banking system average in the quarter and in line with Itaú Chile | Conference Call 2Q'24 previous quarters’ average Efficiency ratio Quarterly (%) 45.1% 46.0% Non-interest expenses UF variation last 12- Non-interest Exp. (Accum. in 12m) UF 3
Slide 15: Other Highlights
2Q24 | Other Highlights Growth (%) | 12-month System Slowdown in loan growth, in Loans Total 2.9% 4.0% line with the market trend Itaú Chile | Conference Call 2Q'24 Commercial 1.8% 2.6% Growing faster than the system 0.8% Consumer 2.7% in demand deposits of companies and individual Mortgage 5.9% 6.6
Slide 16: Capital
2Q24 | Capital BIS III: Transition CET1 capital ratio Information on peers as of may’24 and Itaú Chile as of jun’24 Peers +59 bps +40 bps +17 bps Δ CET1 -4 bps -3 bps CET1 ratio in line Itaú Chile | Conference Call 2Q'24 +38 bps -16 bps +28 bps -29 bps +4 bps with peers with no Pilar 2 charges 10.9%
Slide 17: Colombia
2Q24 | Colombia Monetary Policy Rate (MPR) – Average Exchange Rate Quarterly change (%) COP$ / US$ 13.2% 13.3% 13.2% Itaú Chile | Conference Call 2Q'24 12.7% 4,406 11.9% 4,182 4,154 4,042 4,004 3,855 3,853 2Q23 3Q23 4Q23 1Q24 2Q24 6M23 6M24 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Inflation (CPI) Quarterl
Slide 18: Colombia
2Q24 | Colombia ROE1 (%) 3.6% Itaú Peer Group In a challenging 2.4% 2.3% macroeconomic Itaú Chile | Conference Call 2Q'24 1.6% 1.5% 1.5% 1.6% environment, 1.2% 0.9% Itaú Colombia -2.2% -2.0% mantains jun-23 sep-23 dec-23 mar-24 may-24 jun-24 robust capital and liquidity Capital Adequacy Ratios2 LCR
Slide 19: New CEO
New CEO André Gailey Itaú Chile | Conference Call 2Q'24 Gabriel Moura will join the • Has been working with Itaú for more than 20 years Executive Committee of Itaú Unibanco as CFO. • Currently Regional CEO for Argentina, Uruguay and Paraguay • Previously, led the Wholesale Banking Board of Directors
Slide 20: Key messages
2Q24 | Key messages Resilient returns and efficiency in a Itaú Chile | Conference Call 2Q'24 challenging macro scenario. Principality strategy delivering results with evolution in commissions and deposits Navigating the NPL cycle while maintaining performance and financial strength. CEO succession –
Slide 21: 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 22: ir.itau.cl /Itaú Chile /itauchile
ir.itau.cl /Itaú Chile /itauchile @itauchile ITAUCL