corporate presentation...mortgages and micro-lending 11 universal bank and the most relevant actor...

ALL FIGURES EXPRESSED IN USD, OBSERVED EXCHANGE RATE JUN-19: 679.15

OCTOBER 2019

CORPORATE PRESENTATION

FINANCIAL RESULTS AS OF JUNE 2019

2

This material has been prepared by Banco del Estado de Chile (the “Bank”) and it does not constitute an offering memorandum in

whole or in part.

This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any

securities or related financial instruments. Likewise, it does not give and should not be treated as giving investment advice. No

representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the

information contained herein. Any opinions expressed in this material are subject to change without notice and the Bank and the

initial purchasers are under no obligation to update or keep current the information contained herein. In addition, institutions

mentioned in this material, their affiliates, agents, directors (or members of their directive board), partners and employees may make

purchases and/or sales as principal or may act as market makers in connection with securities issued by the Bank and provide

investment banking, financing or other services to the Bank. The Bank, the initial purchasers and their respective affiliates, agents,

directors (or members of their directive board), partners and employees accept no liability whatsoever for any loss or damage of any

kind arising out of the use of all or any part of this material.

This presentation may contain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933

and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve inherent risks and uncertainties. We

caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations,

estimates and intentions expressed in these forward-looking statements, and may adversely affect the estimates and assumptions

on which these forward-looking statements are based, many of which are beyond our control. You are cautioned not to place undue

reliance on these forward-looking statements. Comparisons of results for current and any prior periods are not intended to express

any future trends or indications of future performance and should only be viewed as historical data.

Furthermore, you should consult with your own legal, regulatory, tax, business, investment, financial and accounting advisers to the

extent that you deem it necessary, and make your own investment, hedging and trading decision (including decisions regarding the

suitability of any transaction) based upon your own judgment and advice from such advisers as you deem necessary and not upon

any view expressed in this material.

DISCLAIMER

3

I. CHILE MACROECONOMIC FUNDAMENTALS

II. THE CHILEAN BANKING SYSTEM

III. OVERVIEW OF BANCO ESTADO & FINANCIAL HIGHLIGHTS

IV. FINAL REMARKS

AGENDA

FISCAL BALANCE

(% OF GDP)

Source: Ministry of Finance, Dipres and Cochilco4

REAL GDP GROWTH AND DOMESTIC DEMAND

(% CHANGE YOY)

EMPLOYMENT TREND

Source: National Institute of Statistics - BancoEstado

STABLE ECONOMIC FACTORS

INFLATION

(CPI VAR. END DECEMBER)

Source: Central Bank of Chile

CPI 2019F

2.5%-3.0%

MPR Oct-192.00%


IG

Source: Bloomberg

BB- BB BB+ BBB- BBB BBB+ A- A A+ AA- AA AA+ AAA

Source: Central Bank of Chile and Ministry of Finance

CHILE’S INTERNATIONAL RESERVES AND

SOVEREIGN FUNDS

5

Source: Central Bank of Chile and Dipres

GOVERNMENT GROSS AND NET DEBT

(% OF GDP)

BB- BB BB+ BBB- BBB BBB+ A- A A+ AA- AA AA+ AAA

CHILE HAS A STRONG FISCAL POLICY

SOVEREIGN CDS 5Y AND RATING (S&P )

AS OF 9 OF OCTOBER 2019

SOVEREIGN RATING (S&P) AND GENERAL GOVERNMENT

GROSS DEBT (% OF GDP)* AS OF 9 OF OCTOBER 2019

Source: Bloomberg. *IMF Forecast

GCI INDEX

18° GLOBAL INDEX OF

ECONOMIC FREEDOM (2019)• 1° IN LATAM

6

DEVELOPING INTERNATIONAL

MARKET

-0.9%


REPUBLIC OF CHILE - OPEN ECONOMY TO THE WORLD

33° GLOBAL COMPETITIVENESS

INDEX RANKING (2019)• 21°FINANCIAL SYSTEM

• 1°MACROECONOMIC

STABILITY

28 FREE TRADE AGREEMENTS

WHICH COVER 86% OF GLOBAL

GDP AND 63% OF THE WORLD

POPULATION

• AGREEMENTS WITH 32

COUNTRIES TO AVOID DOUBLE

TAXATION

EXPORTS BY DESTINATION (FOB)

AS OF JUNE 2019

EXPORTS BY PRODUCTS (FOB)

AS OF JUNE 2019

CURRENT ACCOUNT AND TRADE BALANCE

(% OF GDP)

TOTAL FDI INFLOWS*

(USD MILLIONS)

OECD MEMBER SINCE 2010

OECD

INDEX OF THE ECONOMICS

FREEDOM

OPEN ECONOMY

Source: Direcon - SII

Source: World Economic Forum

Source: Heritage

* Composition: Reinvested earnings and Equity Capital Source: Central Bank of Chile and Ministry of Finance

7




IV. FINAL REMARKS

AGENDA

ASSETS IN THE CHILEAN FINANCIAL SYSTEM (USD BILLIONS)

AS OF JUNE 2019

8

Source: CMFSource: CMF; Superintendence of Pension; Mutual Funds of Chile & CMF

BANKING SYSTEM NET LOANS AND DEPOSITS

(USD BILLIONS)

BANKING SYSTEM ROE AND ROA (%)

Source: CMF

BANKING SYSTEM BIS RATIO

Source: CMF

CHILEAN FINANCIAL SYSTEM OVERVIEW

TOTAL ASSETS MARKET SHARE COMPARISONS

9

TIME & SAVINGS DEPOSITS MARKET SHARE

AS OF JUNE 2019

MORTGAGE LOANS MARKET SHARE

AS OF JUNE 2019

Source: CMF

*Excludes Corpbanca Colombia and City National Bank Miami (BCI)

TOTAL LOAN MARKET SHARE COMPARISONS

PLAYING A RELEVANT ROLE IN THE FINANCIAL SYSTEM

Source: CMF Source: CMF

10




IV. FINAL REMARKS

AGENDA

HIGHEST RATED BANK IN LATIN AMERICA ANDNAMED AS THE SAFEST BANK IN LATAM BY GLOBALFINANCE IN THE LAST SEVEN YEARS

100% GOVERNMENT-OWNED ENTITY SUPPORTED BY THE REPUBLIC OF CHILE SINCE INCEPTION, PLAYING A STRATEGIC ROLE IN CHILE AND ONE OF THE OLDEST

BANKS OF THIS COUNTRY

CHILEAN MARKET LEADER IN DEPOSITS, SAVINGS, MORTGAGES AND MICRO-LENDING

11

UNIVERSAL BANK AND THE MOST RELEVANT ACTOR IN FINANCIAL INCLUSION IN CHILE

INVESTOR HIGHLIGHTS

LARGEST COMMERCIAL BANK IN NUMBER OF TRANSACTIONS, 2ND IN ASSETS AND 3RD IN TERM OF LOANS

OPTIMAL LIQUIDITY LEVELS COUPLED WITH A WELL-DIVERSIFIED LOAN PORTFOLIO

NPLs

3.5%

STABLE

BIS RATIO

STABLE

11.1%

NPLs

COVERAGE*

STABLE

140.7%

BANCOESTADO AT A GLANCE

12

HIGHLIGHTS: SECOND QUARTER 2019

INTERNATIONAL RATINGS

AT PAR WITH THE REPUBLIC OF CHILE STRATEGIC MAP

LONG-TERM SHORT-TERM OUTLOOK

A+

A1

A-1

P-1 STABLE

STABLE

FINANCIAL

INCLUSIÓN

2.0

SAFETY AND

RELIABLE

BANK

MOTIVATED

AND DINAMIC

HUMAN TEAM

PROMOTE

NATIONAL

SAVINGS

ENHANCE

ECONOMIC

DEVELOPMENT

FOR SMEs

TOTAL

ASSETS

+6.6%(YoY)

USD $59.2 bn

2nd position*

NET INCOME*

*Before taxes

USD $334 mm

*Includes additional provisions

+41,8%(YoY)

4th position

*Excludes Corpbanca Colombia and

City National Bank Miami (BCI)

DEPOSITS

+4.6%(YoY)

USD $37.8 bn

1st position

ROE*

25.6%

1st position

*Before taxes – Among peers

STABLE

30.2%

LIQUID

ASSETS

CAJAVECINA POINT OF SALE

UNITS (TOTAL UNITS PER YEAR)

ACTIVE CUENTAS RUTS – DEBIT

CARDS (THOUSAND AND % USAGE)

Source: BancoEstado

MICROFINANCE

(MM USD AND NUMBER OF CLIENTS

Valparaíso

Rancagua

Santiago

Concepción

Puerto Montt

La SerenaCoquimbo

Castro

Coyhaique

Antofagasta

Temuco

Copiapó

Valdivia

Punta Arenas

Talca

Arica

Iquique

SOCIAL FOOTPRINT - A BIG STEP IN FINANCIAL INCLUSION

BRANCHES & SERVIESTADO

Source: CMF and BancoEstado

SAVINGSMILLIONS OF CLIENTS

ATM

13

COMPRAQUÍTHOUSANDS OF BUSINESSES

VOLUNTARY PENSION SAVINGSTHOUSANDS OF PARTICIPANTS

DIGITAL CLIENTSMILLIONS OF CLIENTS

FIRST CHILEAN BANK TO ISSUE AN ESG

INSTRUMENT IN THE INTERNATIONAL MARKET

Sources: BancoEstado.

Safest Bank

in Latam

2011 a 2018

14# Safest Emerging

Markets Banks

2017

First Financial Institution

Brand Value Chile

2009 to 2018

COMBINATION OF BE AND

REDBANC ATM NETWORKS

METLIFE INC. ACQUIRES 49.9% STAKE IN

BE’S INSURANCE BROKERAGE

OPENING OF NEW

YORK BRANCHE

BNP PARIBAS ACQUIRES 49.9% STAKE IN

BE’S MUTUAL FUNDS ARM

STRENGTHNING OF BANCARIZATION

THROUGH CAJAVECINA

LAUNCH OF CUENTA RUT

AND CAJA VECINA

LONG HISTORY AS A CORNERSTONE OF CHILE’S FINANCIAL SECTOR AND ENGINE OF ECONOMIC DEVELOPMENT

CAPITALIZATION

USD 500 MMCAPITALIZATION

USD 250 MMCAPITALIZATION

USD 200 MM

FIRST CHILEAN BANK TO ISSUE AN ESG

INSTRUMENT IN THE LOCAL MARKET

14

ASSETS IN USD BILLION (DIC-18): 59.2

Best Chile

Principal Financial Group

2018

9# Corporate

Sustainability (ISC)

2018

Source: CMF

BALANCE SHEET STRUCTURE AS OF JUNE 2019 ASSET DISTRIBUTION AS OF JUNE 2019

15

ASSETS AS OF JUNE 2019 COMPOSITION OF LIQUID ASSETS AS OF JUNE 2019

Source: CMFSource: CMF

Source: CMF

STRONG BALANCE SHEET, MANTAINS OPTIMAL LEVEL OF LIQUIDITY

LOAN PORTFOLIO BY TYPE

AS OF JUNE 2019

COMMERCIAL LOAN PORTFOLIO BY ECONOMIC ACTIVITY

AS OF JUNE 2019

INTEREST INCOME BY SEGMENT AS OF JUNE 2019 FEES BREAKDOWN AS OF JUNE 2019

Source: CMF

16

Source: CMF

Source: CMF and BancoEstado Source: BancoEstado

LOAN PORTFOLIO AND INCOME OVERVIEW

FUNDING STRUCTURE AS OF JUNE 2019

17

BIS RATIO AND TIER I (%) – BANCOESTADO EFFECTIVE EQUITY (USD MILLIONS)

*Minimum Regulatory Requirement Ratio is 8%.Source: CMF and BancoEstado


Source: CMF

FUNDING AND CAPITAL STRUCTURE

23.3% OF

MORTGAGE

PORTFOLIO

BENEFITS FROM

GOVERMENT

GUARANTEE


HIGHLIGHTS

MORTGAGE LOANS, STOCK BY AMOUNT AND VOLUME & MARKET SHARE

MORTGAGE PORTFOLIO HIGHLIGHTS

• BANCOESTADO IS THE LARGEST MORTGAGE LENDER IN CHILE BY NUMBER OF TRANSACTIONS (50% AS OF JUN-19)

• THE GOVERNMENT ASSURES UP TO 100% OF NON-PERFORMING MORTGAGE LESS RECOVERY VALUE.

• THE MAJORITY OF THE TOTAL MORTGAGE PORTFOLIO IS:

RESIDENTIAL LOANS.

DENOMINATED IN UF (INFLATION-LINKED).

THE BANK FINANCES THE 80% OF THE LOAN AND THE CLIENT FINANCES THE REMAINING 20%.

FIXED RATE.

MAX 30-YEARS OF MATURITY

•THE AVERAGE STOCK FOR MORTGAGE LOANS IS ABOUT US$68,000 WITH A MATURITY OF 22 YEARS.

.

18

NON-PERFORMING LOANS / TOTAL LOANS (%) NON-PERFORMING LOANS / TOTAL COMMERCIAL LOANS (%)

NON-PERFORMING / TOTAL CONSUMER LOANS (%)

19

NON-PERFORMING LOANS / TOTAL MORTGAGES LOANS (%)


LOAN PORTFOLIO OVERVIEW


ALLOWANCES FOR LOAN LOSSES / TOTAL LOANS (%) ADDITIONAL PROVISIONS / TOTAL LOANS (USD MILLIONS)

AS OF JUNE 2019

20

Source: BancoEstado

COVERAGE NPLs (%) NET PROVISIONS FOR LOAN LOSSES

Source: CMFSource: CMF

LOAN PORTFOLIO OVERVIEW (CONT´D)

459

143

55

34

321

311 488

835

Source: CMF

**Includes additional Provisions

TOTAL ASSETS (USD MILLIONS) NET INTEREST MARGIN

TOTAL OPERATING INCOME (USD MILLIONS) INCOME BEFORE TAXES (USD MILLIONS)

Source: CMF

Source: BancoEstado

21

Source: CMF

CONSISTENT POSITIVE FINANCIAL PERFORMANCE

Source: CMF

Source: BancoEstado

EFFICIENCY RATIO

(OPERATING EXPENSES / OPERATING INCOME)

RETURN ON EQUITY

(BEFORE TAXES)

RETURN ON AVERAGE ASSETS

(BEFORE TAXES) LOANS TO DEPOSITS RATIO

Source: CMF

22

Source: CMF

Source: CMF

STRONG FINANCIAL RATIOS

COMMITTEES FACILITATE SOUND MANAGEMENT

ASSET AND LIABILITIES COMMITTE

23

CORPORATE STRUCTURE

CORPORATE GOVERNANCE

BANCO ESTADO IS A

STATE-OWNED FINANCIAL

INSTITUTION, OPERATING

AS AN AUTONOMOUS

ENTITY GOVERNED BY

ORGANIC LAW.

NINE SENIOR

MANAGEMENT

COMMITTEE.

WE ARE SUPERVISED

BY THE SUPERINTENDENCY

OF BANKS AND THE

REGULATIONS OF THE

CENTRAL BANK.

OUR BOARD OVERSEES

THE BANK’S POLICIES

AND OPERATIONS AND IS IN

CHARGE OF ITS OVERSIGHT

(DIRECCIÓN

SUPERIOR).

ORGANIC LAW ENTITLES

THE PRESIDENT OF CHILE

TO APPOINT 6 OF THE 7

MEMBERS OF THE BOARD OF

DIRECTORS AND ALL 3

VOTING MEMBERS OF THE

EXECUTIVE COMMITTEE

(GENERAL COUNSEL IS A

NON-VOTING POSITION).

NO MEMBER OF THE

BOARD OF DIRECTORS OR

THE EXECUTIVE COMMITTEE

MAY PARTICIPATE OR VOTE IN

CREDIT TRANSACTIONS,

INVESTMENTS OR ANY OTHER

BUSINESS SOMEHOW RELATED

IN PARTICIPATION,

DEPENDENCE OR

INTERFERENCE.

THE BANK IS

PROHIBITED BY THE

CHILEAN CONSTITUTION

FROM DIRECT LENDING

TO THE CHILEAN

GOVERNMENT OR ANY

STATE-OWNED

ENTERPRISES.BANCOESTADO HAS BEEN

RECOGNIZED AS ONE OF THE

MOST TRANSPARENT PUBLIC

ENTITIES IN CHILE, RECEIVING

A TOTAL SCORE OF 100%

ACCORDING TO CORPORATE

TRANSPARENCY INDEX (CTI)

ACCORDING TO

ORGANIC LAW, THE

POWERS OF THE

EXECUTIVE COMMITTEE

EXTEND TO ALL MATTERS

CONCERNING

MANAGEMENT &

OPERATION OF THE

BANK

BOARD OF DIRECTORS

CHAIRMAN

VICE-CHAIRMAN

BOARD MEMBERS (4)

LABOR DIRECTOR

LABOR ALTERNATE

DIRECTOR

EXECUTIVE COMMITTEE

CHAIRMAN

VICE-CHAIRMAN

CHIEF EXECUTIVE

OFFICER

GENERAL COUNSEL*

*NON VOTING

AUDIT

COMMITTEE

CHAIRMAN

MEMBERS (4)

GENERAL

COUNSEL

CEO

INTERNAL

AUDITOR

SENIOR MANAGER

COMPLIANCE

COMMITTEE

CHAIRMAN

MEMBERS (4)

KE

Y O

PE

RA

TIO

NA

L C

OM

MIT

TE

ES

STRATEGIC QUALITY AND TRANSPARENCY COMMITTE

PROCESS AND TECHNOLOGY COMMITTE

COMMERCIAL COMMITTE

AUDIT COMMITTE

RISK COMMITTE

STRATEGY COMMITTE

COMPLIANCE COMMITTE

HUMAN RESOURCES COMMITTE

SUSTAINABILITY COMMITTE

ANTI-MONEY LAUNDERING COMMITTE

ETHICS COMMITTE

RESEARCH AND PUBLIC POLICY COMMITTE

24




IV. FINAL REMARKS

AGENDA

25

KEY INVESTMENT CONSIDERATIONS

CHILE IS A SUCCESSFUL

AND DYNAMIC OPEN

ECONOMY, WITH STRONG

ECONOMIC FUNDAMENTALS

AND POSITIVE OUTLOOK,

HOLDING THE BEST RATING IN

LATIN AMERICA (A1/ A+) AND

AMPLE ACCESS TO THE

GLOBAL CAPITAL

MARKETS.

BANCOESTADO IS

FULLY OWNED BY THE

REPUBLIC OF CHILE,

REFLECTING STRONG SUPPORT

AND SHARING THE SAME

INTERNATIONAL CREDIT

RATINGS

(HIGHEST-RATED BANK IN

THE REGION).

CHILE’S BANKING SYSTEM

IS RESILIENT, HIGHLY

COMPETITIVE AND

RANKED AMONG THE

SOUNDEST IN THE WORLD.

COMMITTED AND

HIGHLY EXPERIENCED

MANAGEMENT.

PRESENCE IN THE

INTERNATIONAL DEBT

CAPITAL MARKETS SINCE

1994, AN ESTABLISHED MTN

PROGRAM SINCE JANUARY

2012.

BANCOESTADO HAS

DEMONSTRATED A

SUSTAINED A TRACK RECORD

OF GROWTH AND SOLID

FINANCIAL PERFORMANCE,

EVEN DURING THE RECENT

ECONOMIC SLOWDOWN.

BANCOESTADO

MAINTAINS A HIGH LEVEL OF

LIQUIDITY, AS WELL AS A

WELL-DIVERSIFIED LOAN

PORTFOLIO SUPPORTED BY

STABLE AND LOW-COST

FUNDING

SOURCES.

BANCOESTADO HAS A

WELL DEFINED GROWTH

STRATEGY, AND A BROAD

MARKET PENETRATION.

Jun-19 Jun-19 Jun-18

US$ ths* Ch$ million Ch$ million

ASSETS

Cash and deposits in banks 4,333.043 2,942,786 2,792,476 5.4%

Unsettled transactions 958.682 651,089 329,459 97.6%

Trading investments 2,622.948 1,781,375 1,881,193 -5.3%

Investments under repurchase agreements 122.852 83,435 222,559 -62.5%

Financial derivative contracts 1,276.183 866,720 808,144 7.2%

Interbank loans 973.658 661,260 585,846 12.9%

Loans and accounts receivable from customers 35,366.515 24,019,169 22,382,471 7.3%

Available-for-sale investments 9,857.784 6,694,914 6,590,134 1.6%

Held to maturity investments 31.859 21,637 25,662 -15.7%

Investments in other companies 25.342 17,211 15,247 12.9%

Intangibles 268.969 182,670 164,001 11.4%

Property, plant and equipment 529.929 359,901 379,677 -5.2%

Right-of-use assets 158.257 107,480 0 -

Current taxes 3.256 2,211 2,901 -23.8%

Deferred taxes 1,347.034 914,838 857,864 6.6%

Other assets 1,365.980 927,705 699,088 32.7%

TOTAL ASSETS 59,242.290 40,234,401 37,736,722 6.6%

LIABILITIES

Deposits and other demand liabilities 12,928.782 8,780,582 8,177,407 7.4%

Unsettled transactions 665.647 452,074 258,013 75.2%

Investments under repurchase agreements 794.400 539,517 744,813 -27.6%

Time deposits and other time liabilities 24,889.239 16,903,527 16,369,517 3.3%

Financial derivative contracts 1,273.049 864,591 860,585 0.5%

Interbank borrowings 1,907.065 1,295,183 1,435,882 -9.8%

Issued debt instruments 11,718.731 7,958,776 7,108,196 12.0%

Other financial liabilities 37.681 25,591 14,376 78.0%

Lease obligatiions 134.704 91,484 0 -

Current taxes 207.294 140,784 10,898 1191.8%

Deferred taxes 0.646 439 88 398.9%

Provisions 1,228.051 834,031 697,789 19.5%

Other liabilities 849.547 576,970 388,357 48.6%

TOTAL LIABILITIES 56,634.836 38,463,549 36,065,921 6.6%

Capital 846.105 574,632 574,632 -

Reserves 1,580.096 1,073,122 1,075,464 -0.2%

Valuation accounts -32.414 -22,014 -29,074 -24.3%

Retained earnings 0 0 0 -

From previous periods 244.351 165,951 0 -

Net income for the period 146.649 99,597 76,602 30.0%

Provision for distribution of income to the benefit of the state -195.500 -132,774 -38,301 246.7%

Total owners' equity 2,589.287 1,758,514 1,659,323 6.0%

Non-controlling interests 18.167 12,338 11,478 7.5%

TOTAL EQUITY 2,607.453 1,770,852 1,670,801 6.0%

TOTAL LIABILITIES AND EQUITY 59,242.290 40,234,401 37,736,722 6.6%

* Balance sheet items are translated at the observed exchange rate in Jun-19 (Ch$ 679,15)

∆%

26

ANNEX 1: BALANCE SHEET

27

ANNEX 2: QUARTERLY INCOME STATEMENTS

2Q19 2Q19 2Q18US$ ths* Ch$ million Ch$ million

Interest income 871.107 591,612 479,856 23.3%

Interest expense -442.647 -300,624 -237,142 26.8%

Net interest income 428.459 290,988 242,714 19.9%

Fees and commission income 192.273 130,582 114,987 13.6%

Fees and commission expense -69.036 -46,886 -42,249 11.0%

Net fee and commission income 123.236 83,696 72,738 15.1%

Net gain (loss) from financial operations 58.558 39,770 12,268 224.2%

Foreign exchange gain (loss) net 13.535 9,192 25,398 -63.8%

Other operating revenue 5.027 3,414 1,738 96.4%

Total operating income 628.815 427,060 354,856 20.3%

Provision for loan losses -94.580 -64,234 -79,031 -18.7%

NET OPERATING PROFIT 534.235 362,826 275,825 31.5%

Personnel salaries and expenses -170.310 -115,666 -104,146 11.1%

Administrative expenses -94.144 -63,938 -63,173 1.2%

Depreciation and amortization -56.017 -38,044 -19,843 91.7%

Impairment 0.000 0 0 0.0%

Other operating expenses -31.054 -21,090 -10,256 105.6%

TOTAL OPERATING EXPENSES -351.525 -238,738 -197,418 20.9%

Net operating income 182.711 124,088 78,407 58.3%

Income (loss) from investments in other companies 1.383 939 927 1.3%

Income before income taxes 184.093 125,027 79,334 57.6%

Income taxes -84.909 -57,666 -44,139 30.6%

NET INCOME FOR THE PERIOD 99.184 67,361 35,195 91.4%

Net income attributable to equity holders of the bank 93.853 63,740 31,930 99.6%

Net income attributable to non-controlling interest 5.332 3,621 3,265 10.9%

* Income statements are translated at the observed exchange rate in Jun-19 (Ch$ 679,15)

∆%

• BANCO ESTADO.

WWW.BANCOESTADO.CL

• FINANCIAL MARKET COMMISSION/ COMISIÓN PARA EL MERCADO FINANCIERO.

WWW.CMFCHILE.CL

• CHILEAN CENTRAL BANK / BANCO CENTRAL DE CHILE.

WWW.BCENTRAL.CL

• BUDGET DIRECTORATE / DIRECCIÓN DE PRESUPUESTOS – MINISTERIO DE HACIENDA.

WWW.DIPRES.CL

• NATIONAL INSTITUTE OF STATISTICS / INSTITUTO NACIONAL DE ESTADÍSTICAS.

WWW.INE.CL

• FOREIGN INVESTMENT PROMOTIONAL AGENCY/ AGENCIA DE PROMOCIÓN DE INVERSIÓN

EXTRANJERA

WWW.INVESTCHILE.GOB.CL

28

SOURCES

http://www.bancoestado.cl/

http://www.cmfchile.cl/

http://www.bcentral.cl/

http://www.dipres.cl/

http://www.ine.cl/

http://www.investchile.gob.cl/

corporate presentation...mortgages and micro-lending 11 universal bank and the most relevant actor...

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