Banco Itau Chile · BCS:ITAUCL
Banco Itau Chile — Itaú Chile — Q1 2024 Earnings Presentation
17 slides from Banco Itau Chile's earnings presentation, May 2, 2024
Slide 1: 1Q 2024 Results Conference Call
ItaúChile 1Q 2024 Results Conference Call May 2, 2024 ITAUCHILE ir.itau.cl /Itaú Chile /itauchile @itauchile
Slide 2: Macroeconomic Environment
Macroeconomic Environment UF – Unidad de Fomento1 (∆ value) Slow growth in lending activity while demand Quarterly (%) deposits recover 4.2% 3.5% 2.5% 2.4% Banking Industry Loans 2 1.6% Itaú | Conference Call 1Q’24 1.3% 1.4% (12-month growth) 0.8% 0.3% 10.0% 10.2% 1Q'22 2Q'23 3Q'22 4Q'22 1Q'23 2Q'23
Slide 3: Q1 Highlights
Q1 Highlights Top 2 RoTE in Chile once more… …with efficiency ratio below 40% Ranking position 3rd 3rd 2nd 4th 3rd 2nd 2nd 2nd 2nd 29.0% Itaú | Conference Call 1Q’24 24.0% 20.5% 21.6% 17.1% 16.8% 43.4% 38.5% 42.3% 45.5% 42.9% 36.9% 45.1% 46.0% 38.7% 13.8% 12.8% 15.1% 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q
Slide 4: Evolving our management model
Evolving our management model Our management model involves aligning vision, objectives and incentives Strategic Levers Itaú | Conference Call 1Q’24 01. 02. 03. 04. Customer Product- Operational Key relationship Market Fit efficiency capabilities 6. Operating cost 10. IT enablers 1. Client satisfact
Slide 5: Sustainability & transparency progress
Sustainability & transparency progress Great Place to Work | Decarbonization progress Accountability | ALAS20 Results 2023-2024 Our carbon footprint Among Top 10 companies in Chile in ALAS20 2024 in three categories: Top bank to work for in Total Greenhouse Gas Emissions (ton CO2e) ▪ Leader in respo
Slide 6: Results Highlights
1Q24 | Results Highlights 1Q24 vs. 1Q23 change Recurring Financial margin with clients Commissions and fees Non-interest expenses 1 Cost of credit Net Income 1Q24 Itaú | Conference Call 1Q’24 Consolidated Ch$103.2 Bn 31.0 % Ch$ 348.3 billion Ch$ 48.7 billion Ch$ 197.9 billion Ch$ 95.4 billion + 12.4
Slide 7: Financial margin with Clients
1Q24 | Financial margin with Clients Financial margin with Clients Annualized average rate Ch$ billion +7.4% 11.3% 11.3% -5.5% 10.4% 9.1% Itaú | Conference Call 1Q’24 7.6% 270.7 3.4% 3.4% 3.4% 3.6% 3.3% 255.7 245.5 247.8 238.2 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 Financial mar
Slide 8: Financial margin with the Market
1Q24 | Financial margin with the Market Quarterly evolution UF 1 net exposure (Ch$ trillion) In Ch$ billion 39.2 Itaú | Conference Call 1Q’24 0.9 0.0 0.2 0.6 26.5 -0.7 19.7 18.6 mar-23 jun-23 sep-23 dec-23 mar-24 12.4 36.8 UF – Unidad de Fomento1 (∆ value) 1.6% 1.4% 1.3% 18.1 16.2 0.8% 12.4 0.3% 3.1
Slide 9: Commissions and fees
1Q24 | Commissions and fees Commissions and fees Increasing principality through the growth of our key services Itaú | Conference Call 1Q’24 In Ch$ billion 1Q24 4Q23 D 1Q23 D Asset Management Insurance Brokerage 8.1 9.7 -16.8% 9.8 -17.9% In Ch$ billion 51.4% Credit Operations and Guarantees Provided
Slide 10: Cost of credit and credit quality
1Q24 | Cost of credit and credit quality Cost of credit In Ch$ billion Coverage ratio 1.4% 1.5% 1.4% 1.4% 1.4% 1.4% 1.4% 172% 1.1% 166% Itaú | Conference Call 1Q’24 1.0% 76.5 80.2 80.2 83.0 76.5 156% 156% 76.5 80.2 153% 57.4 60.5 3.3% 3.3% 3.4% 3.2% 3.1% 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 3M'23 3M'24 3M'
Slide 11: Non-interest expenses
1Q24 | Non-interest expenses Efficiency ratio Itaú | Conference Call 1Q’24 Quarterly (%) 42.9% 45.1% 46.0% 42.9% 36.9% 38.7% 38.7% UF Non-interest expenses growing below inflation Basis 100 = Dec.20 124.5 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 3M'23 3M'24 120.3 121.7 122.0 123.7 UF variation last 116.5 119.0
Slide 12: Financial Highlights
1Q24 | Financial Highlights Growth (%) | 12-month We have growth in the consumer segment while maintaining a solid NPL Growing in consumer, furthering (%) ratio among peers improvement in mix Consumer loans 3.1 % 2.5% Itaú | Conference Call 1Q’24 System Better than market growth in demand deposits,
Slide 13: Solvency & Liquidity Ratios
1Q24 | Solvency & Liquidity Ratios BIS III: Transition CET1 capital ratio Information on peers as of feb’24 and Itaú Chile as of mar’24 adjusted by dividend payments +59 bps +9 bps +28 bps Core Capital -4 bps -2 bps Generation +38 bps +40 bps 10.8% CET1 ratio well above Itaú | Conference Call 1Q’24
Slide 14: Colombia
1Q24 | Colombia NPLs 30+ (%) 3.8% Peer Group 4.3% Itaú | Conference Call 1Q’24 Focus on controlling non- performing loans and Cost of Credit increasing recoveries of NPLs (%) and write-offs 1.6% Peer Group 2.8% Mantaining positive ROE in a challenging environment ROE1 (%) 1.5% Peer Group - 2.8% 14 B
Slide 15: Key messages
1Q24 | Key messages • Sustained returns and Itaú | Conference Call 1Q’24 efficiency for 13 consecutive quarters • Principality strategy delivering results • Navigating the NPL cycle while maintaining performance and financial strength 15
Slide 16: 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 17: ir.itau.cl /Itaú Chile /itauchile
ir.itau.cl /Itaú Chile /itauchile @itauchile