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Corporate
Presentation 2014
Banco Crédito e Inversiones
September 2014
Corporate
Presentation
2014
Corporate
Presentation
2013
Content:
1. Chilean Macro-economic Environment
2. Chilean Financial System
3. Banco de Crédito e Inversiones
Corporate
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Corporate
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2013
2
Chilean macro-economic
environment
Corporate
Presentation
2014
Corporate
Presentation
2013
Macro-economic environment
Private consumption (% YoY growth)
GDP (% YoY growth)
5,8
5,8
10,8
5,4
8,9
4,1
3,2
6,0
5,6
2,1
3,9
2,2
2010
2011
2012
2013
(e) 2014
(e) 2015
2010
2011
2012
2013
(e) 2014
(e) 2015
Exports and Imports (% YoY growth)
Investment (% YoY growth)
25,9
14,4
12,2
12,2
15,6
2,3
5,5
0,4
5,0
2,3
2010
2011
2012
2013
(e) 2014
4,3
2,2
2,8
3,7 3,4
(e) 2014
(e) 2015
(e) 2015
2010
-4,9
1,1
2011
Exports
2012
2013
Imports
-4,2
Source: Central Bank of Chile and Bci (September 2014)
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Macro-economic environment
Exchange rate (Ch$/USD)
Commodities
95,1
6,0
4,0
97,9
94,2
94,3
92,6
79,4
4,0
3,4
3,6
3,3
3,1
3,0
(e) 2014
(e) 2015
100,0
510,38
483,36
486,75
495,00
2010
2011
2012
2013
595,00
610,00
(e) 2014
(e) 2015
50,0
2,0
0,0
0,0
2010
2011
2012
2013
Copper (US$/lb)
Inflation
Crude Oil WTI (US$/Barrel)
(YoY variation of Consumer Price Index – IPC)
Central Bank monetary policy rate
4,6
4,4
5,25
3,0
3,0
5,00
2,9
4,50
3,25
3,00
3,25
(e) 2014
(e) 2015
1,5
2010
2011
2012
2013
(e) 2014
(e) 2015
2010
2011
2012
2013
Source: Central Bank of Chile and Bci (September 2014)
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5
Chilean Financial System
Financial System: strong growth over
the years
Total Loans Financial System*
Corporate & Interbank lending Financial System*
(US$ million)
(US$ million)
6,8%
9,2%
11,2%
11,1%
208.479
200.237
190.917
125.558
122.074
117.576
111.973
181.641
161.929
98.921
2011
2012
2013
2Q 2013
2Q 2014
Consumer lending Financial System*
(US$ million)
13,0%
26.655
2012
2013
2Q 2013
(US$ million)
15,0% 53.216
13,6% 27.513
11,1%
49.272
46.301
44.281
20.864
2Q 2014
Mortgage Financial System*
24.230
23.331
2011
2011
39.944
2012
2013
2Q 2013
2Q 2014
2011
2012
2013
2Q 2013
Source: Superintendencia de Bancos e Instituciones Financieras de Chile (SBIF) - *Excluding Corpbanca investments in Colombia
Figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)
2Q 2014
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7
Healthy and well capitalized
Financial System
Capital Base Financial System (Regulatory capital/Risk weighted assets)
13,9%
13,3%
13,3%
13,2%
13,5%
10,1%
9,9%
9,6%
9,8%
9,7%
2011
2012
2013
2Q 2013
2Q 2014
NPL Ratio Financial System
2,37%
2,20%
2,20%
2,19%
2Q 2013
2Q 2014
2,12%
2011
2012
2013
Source: Superintendencia de Bancos e Instituciones Financieras de Chile (SBIF)
Basic capital : paid-in capital + reserves
Regulatory capital= Basic capital (paid-in capital + reserves) + subordinated bonds + voluntary allowances for loan losses
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8
Banco Crédito e Inversiones
Profitable and financially sound
June 2014- Highlights
Main Awards and Recognitions
US$ *
Total Assets
$39,404 M
Total Net Loans
$26,629 M
Market Share**
Local dynamos
Among the 50 most successful local companies
in Emerging Markets 2014
The Boston Consulting Group (BCG)
1st place 2013
Corporate Transparency
(Second year)
12.91%
1st place in Chile 2014
Net Income ***
$639 M
Market
Capitalization
$6,226 M
Capital ratios
International
Credit Rating
ROAE***
ROAA***
15.38%
• Banking group (Third year)
• Private Banking (Third year)
•Sustainable Banks
• Asset Management (Second year)
1st place 2014
Customer Experience (second year)
IZO
Basic capital
Total Capital
9.85%
13.91%
Moody’s
S&P
Fitch
A1
A
A-
1st place 2014
Customer Satisfaction- Large banks (second year)
Procalidad/Capital
4th place 2013
Most Innovative Companies in Chile
ESE Business School- U. de los Andes
22.5%
6th place 2013
Best companies for working parents
Fundación Chile Unido
1.7%
15th place 2013
Best Companies to work for in Chile
Great Place to Work
*Figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014) ** Excluding Corpbanca investments in Colombia
***Last 12 months income ended June 2014. This takes the monthly average equity and assets of the last 12 months.
10
Shareholders and Corporate
Governance
Shareholder structure as of June 2014
29.37%
Board of
Directors
Free Float
63.86%
Shareholder
Agreement
Pension
Funds
Luis Enrique Yarur Rey (President)
Andres Bianchi Larre (Vicepresident)
Juan Manuel Casanueva Préndez
Dionisio Romero Paoletti
Francisco Rosende Ramírez (I)
José Pablo Arellano Marín
Mario Gómez Dubravcic
Máximo Israel López (I)
Juan Ignacio Lagos Contardo
1991
2007
2007
2010
2010
2011
2011
2013
2013
Corporate Governance Committees:
• Board Executive Committee
• Directors Committee
• Finance and Corporate Risk Committee
• Corporate Governance and Corporate Social Responsibility
Committee
• Compensation Committee
6.77%
Related to the Yarur family since its
foundation in 1937
Controlling Shareholder
CEO
Empresas Juan Yarur S.A.C.
55.08%
Lionel Olavarría
Management Commitees:
• Higher Management
• Strategic Planning
• Assets & Liabilities (ALCO)
• Operational Risk
• Technology
• Credit
1993
• Money Laundering
• Information System Security
• Human Resources Management
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2014
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11
Diversification through
an effective segmentation
Bci
Retail Banking
SMEs
Commercial
Banking
Corporate &
Investment
Banking (CIB)
Individuals
Revenues < UF 80.000
(up to US$ 3.5 million*)
Revenues > UF 80.000
(up to US$ 65.4 million*)
Corporate and Private
Banking
Retail Banking
SMEs
Commercial
Banking
CIB
Total Segments
MM$
Net interest income
Net service fee income
Other operating income
Total operating income
147.362
56.712
12.201
216.275
55.944
14.527
3.490
73.961
78.153
13.492
13.911
105.556
106.723
13.426
35.194
155.343
388.182
98.157
64.796
551.135
Provisions for loan losses
Net operating income
-45.565
170.710
-21.064
52.897
-14.363
91.193
-13.706
141.637
-94.698
456.437
Total Operating Expenses
-114.425
-28.437
-35.993
-36.282
-215.137
56.285
26%
24.460
13%
55.200
25%
105.355
36%
241.300
100%
As of June 30th 2014
OPERATING INCOME BY SEGMENT
*Figures are converted to US$ using an FX of USD/CLP of 550.6 and UF value of $24,023 (June 30th 2014)
Corporate
Presentation
2014
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12
National and international
presence
Nacional Commercial Contact Points (CCP):
Branches:
373
311
Presence in 6 countries
NORTH
Regions I to IV and XV
57 CCP
47 branches
CENTER
Regions V, VI and RM
238 CCP
198 branches
SOUTH
Regions VII to XII and XIV
Antartic included
78 CCP
66 branches
Miami Branch +
(**
Representation office in Mexico City
Representation office in Lima, Peru
Representation office in Sao Paulo, Brazil
Representation office in Bogotá, Colombia
Business Desk in Madrid, Spain
* Pending US regulatory approval
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Leadership in customer experience
Bci´s Strategy
Retail
1st place in Customer satisfaction* (Snex)
2nd place in Recommendation* (NPS)
Commercial
1st place in Customer satisfaction Bci - Real Estate Banking**
1st place complete assesment (Banks)***
Corporate
1st place complete assesment (Relationship managers)***
1st place in Customer satisfaction (Relationship managers)**
1st place in Reccomendation (Relationship managers)**
1st place in Customer satisfaction (Sales & Trading)**
* Results based on surveys conducted by Servitest-Ipsos (Snex and NPS) . Category: Large banks
** Results based on a survey conducted by Brainetwork
*** Results based on surveys conducted by Servitest-Ipsos
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14
3rd largest privately owned bank
in Chile
Net Income Market Share (LTM)*
Total Loans Market Share*
12,91%
15,38%
BCI
Others,
36,0 %
18,41%
64,0%
19,18%
Banco de Chile
Santander
BCI
Others,
28,4 %
71,6%
NIBD Market share*
14,98%
12,12%
BCI
BCI
55,4%
Banco de Chile
Santander
17,90%
Banco Estado
5,83%
Shareholder’s Equity Market Share
17,42%
Banco de Chile
Santander
25,27%
Banco Estado
13,47%
Others,
44,6%
25,11%
Banco Estado
Others,
22,1%
23,02%
77,9%
21,23%
Banco de Chile
Santander
Banco Estado
18,64%
7,93%
Source: SBIF - * Figures as of June 2014, excluding Corpbanca’s acquisition in Colombia
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Sustained and profitable growth
Net Earnings growth and Market Share*
Loan Portfolio growth and Market Share*
(US$ Million)
CAGR
20,0%
26.196
23.697
25000
(US$ Million)
8,1%
12,6%
30000
24.639
26.629
545
19,0%
600
475
18,0%
20.664
500
16,98%
17,0%
20000
16,0%
13,20%
12,94%
13,23%
300
13,10%
12,91%
19,0%
18,0%
16,15%
17,0%
400
15,0%
15000
20,0%
493
14,94%
15,21%
304
16,0%
15,0%
210
14,0%
14,0%
13,91%
10000
200
13,0%
13,0%
12,0%
12,0%
100
5000
11,0%
11,0%
0
0
10,0%
10,0%
2011
2012
2013
2Q 2013
2Q 2014
Diversification
0,4%1,2%1,7%
2,1%
2,3%
3,1%
20,9%
7,6%
8,2%
18,4%
10,2%
12,4%
11,5%
2011
2012
2013
2Q13
2Q14
Time Deposits and NIBD (DDA)
(US$ Million)
Telecom
Fishing
Mining and Forestry
Utilities
Agriculture
Transportation
Manufacturing
Construction
Services
Commerce
Retail
Others
Mortgages
Source: SBIF - * Figures as of June 2014, excluding Corpbanca’s acquisition in Colombia
Bci figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)
12,2%
11,2%
7,3%
8,3%
5.762
6.572
7.121
6.467
7.257
NIBD
18.019
19.689
21.119
19.991
21.443
2011
2012
2013
2Q 13
2Q 14
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Deposits
16
Sustained and profitable growth
NIM (%)*
Fee income ratio (%)
(Net interest margin/ average interest earning assets)
(Net fees/ net fees + net interest margin)
4,52%
4,21%
4,14%
3,99%
4,50%
24,76%
23,36%
24,17%
23,12%
23,27%
22,74%
20,95%
22,76%
2012
2013
2Q13
30,00%
25,00%
21,46%
20,00%
4,02%
3,85%
3,78%
3,65%
4,26%
15,00%
18,94%
10,00%
5,00%
0,00%
2011
2012
2013
Bci
2Q 13
2Q 14
Banking Sector
Bci
Efficiency ratio** (%)
47,6%
2Q14
Banking Sector
ROAE (%)
48,1%
46,1%
2011
46,2%
47,1%
23,1%
45,1%
18,8%
22,5%
20,6%
44,9%
44,3%
43,9%
18,4%
15,8%
42,5%
20,2%
18,4%
16,0%
14,5%
2011
2012
Bci
2013
2Q 13
Banking Sector
2Q 14
2011
2012
Bci
2013
2Q13
2Q14
Banking Sector
* This is the average of the last 13 months for earnings assets.Interest earning assets include: Total loans, Trading portfolio financial assets, Investments under
agreements to resell, Financial investments available for sale , and held –to- maturity securities .
**Efficiency ratio as calculated by SBIF (operating expenses/pre-tax income including additional allowances) using YTD figures.
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17
International funding and different
sources
International funding of recent years
Amount Issued
US$ million
2012
2013
2014
Type of instrument
Country/Region
Term
76
Bond
Mexico
18 months
512
Commercial Paper*
USA
< 1 year
600
144 A bond
USA
5 years
115
Syndicated Loan
Asia
2 years
500
144 A bond
USA
10 years
150
Syndicated Loan
Global
2 years
497
Commercial Paper*
USA
< 1 year
226
Bond
Switzerland
3 years
135
Bond
Switzerland
2 years
Japan
3 years
Switzerland
5 years
125
167
* Commercial paper issued at the end of each year.
Syndicated Loan
Bond
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Financial System Comparison - Risk
Conservative risk management policies
Risk Index Total Loans
NPL Ratio (NPLs/Total Loans) %
(Total Allowances for Loan Losses / Total Loans) %
Allowances / Total Loans(Bci)
NPLs / Total Loans (Bci)
NPLs / Total Loans (Financial System)
Allowances / Total Loans (Financial system)
2,42%
2,33%
2,28%
2,27%
2,30%
2,37%
2,33%
2,49%
2,48%
2,39%
2,44%
2,27%
2,20%
2,06%
2,38%
2,60%
2,20%
2,12%
2011
2012
2013
2Q 13
2011
2Q 14
2012
2013
2Q 13
2,73%
2,19%
2Q 14
Coverage Ratio (Allowances /NPLs)
Allowances / NPLs (Bci)
Allowances / NPLs (Financial System)
121,07%
112,64%
120,13%
105,14%
107,39%
120,04%
101,84%
91,86%
2011
98,83%
107,62%
2012
2013
2Q 13
2Q 14
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19
Financial System Comparison - Risk
Conservative risk management policies
Risk Index by type of credit
Risk Index Total Loans (%)
2,42%
2,33%
2011
Risk Index Commercial Loans (%)
Allowances / Total Loans(Bci)
Commercial Allowances / Commercial Loans (Bci)
Allowances / Total Loans (Financial system)
Commercial Allowances / Commercial Loans (Financial system)
2,28%
2,39%
2,30%
2,46%
2,27%
2013
2,14%
2Q 13
2Q 14
Risk Index Consumer Loans (%)
5,41%
2011
5,43%
2012
6,31%
6,38%
4,92%
5,31%
2013
2Q 13
2012
2,39%
2,19%
2013
2,56%
2,04%
2Q 13
2,73%
2,30%
2Q 14
Risk Index Mortgage Loans (%)
Mortgage Allowances / Mortgage Loans(Bci)
Mortgage Allowances / Mortgage Loans (Financial system)
Consumer Allowances / Consumer Loans (Financial system)
6,36%
2,00%
2011
Consumer Allowances / Consumer Loans (Bci)
6,08%
2,25%
2,44%
2,27%
2012
2,49%
2,48%
6,43%
4,79%
2Q 14
0,94%
0,79%
0,75%
0,44%
0,39%
2011
2012
0,45%
0,74%
0,39%
0,67%
0,48%
2013
2Q 13
2Q 14
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Corporate
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20
Sound capital levels
Capital Base
13,92%
6,84%
13,60%
13,44%
13,21%
13,91%
7,04%
7,14%
7,16%
7,19%
Regulatory Capital / Consolidated
Risk weighted assets
Basic Capital / Total Assets
Required by Sbif (8%)
Required by Sbif (3%)
2011
2012
2013
2Q 13
2Q 14
Capital Base
13,92%
13,60%
4,53%
3,99%
13,44%
3,96%
13,21%
13,91%
3,65%
4,06%
Tier II
9,39%
9,62%
9,48%
9,56%
9,85%
2011
2012
2013
2Q 13
2Q 14
Core Capital
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21
Value creation over the years
Simulation of long term return including corporate events (Index 100: 31-12-2008)
450
400
350
BCI
300
250
Financial
System Index
200
IPSA
150
100
50
0
30-12-2008
30-12-2009
30-12-2010
30-12-2011
30-12-2012
30-12-2013
25-09-2014
Return
2009
63.8%
2010
107.8%
2011
-9.8%
2012
19.0%
2013
-8.1%
YTD
20.5%
•Price
52.9%
99.4%
-12.9%
14.4%
-11.5%
14.0%
10.9%
8.4%
3.1%
4.6%
3.4%
6,5%
2.14
10.1
3.86
15.4
2.57
13.0
2.42
12.7
1.98
10.4
2.18
10.2
•Corporate
events
P/B
P/E
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2014
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22
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Thank you
“This presentation contains forward-looking statements in various places throughout therein, related to, without
limitation, our future business development. Forward-looking information is often, but not always, identified by the
use
of
words
such
as
“anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “project”, “may”, “will”, “should”, “could”, “estimate”, “pr
edict” or similar words suggesting future outcomes or language suggesting an outlook. While these forward looking
statements represent our judgment and future expectations concerning the development of our business, a number
of risks, uncertainties and other important factors could cause actual developments and results to differ materially
from our plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking
statements. The risk factors and other key factors that we have indicated in our past and future filings and
reports, including those with local or foreign authorities, could adversely affect our business and financial
performance.
The information contained herein is subject to, and must be read in conjunction with, all other publicly available
information, including relevant document published by Banco de Crédito e Inversiones (“BCI”) or any of its related
companies.
The forward-looking statements represent our views as of the date of this presentation and should not be relied upon
as representing our views as of any date subsequent to the date of this presentation. We undertake no obligation to
update any of these statements.
Recipients of this presentation are not to construe the contents therein as legal, tax or investment advice and such
recipients should consult their own advisors in this regard. Likewise, this presentation does not constitute or form
any part of any offer, invitation or inducement to sell or issue, or any solicitation of any offer to purchase or
subscribe for, any shares or other securities issued or related to BCI.
Furthermore, any liability for losses arising from the use of material contained in this presentation, which
is confidential and submitted to prior selected recipients only, is accepted by BCI or its executives, directors or
related companies. This presentation may not be reproduced (in whole or in part) to any other person, without our
prior written consent”.
Corporate
Presentation
2014
Corporate
Presentation
2013
Financial results
Pesos
Jun-13
Jun-14
%∆
1,005,351
%∆
YoY
10.3%
461,115
552,824
19.9%
172,015
203,238
18.2%
109,575
125,977
15.0%
364,534
419,100
447,543
6.8%
215,686
231,708
7.4%
Income Before Taxes
312,358
327,103
362,429
10.8%
140,851
199,939
42.0%
Net Income
261,268
271,256
300,294
10.7%
115,674
167,298
44.6%
Total Loans
11,378
13,047
14,423
10.5%
13,566
14,662
8.1%
Total Assets
16,110
17,996
20,299
12.8%
18,481
21,696
17.4%
Total Deposits
9,922
10,841
11,628
7.3%
11,007
11,806
7.3%
Equity
1,222
1,420
1,582
11.4%
1,474
1,657
12.4%
2011
2012
2013
Operating Revenues
811,256
911,659
Provision Expenses
142,846
Operating Expenses
Ch$ Million
Ch$ Thousand Million
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24
Financial results
Dollar US$
Jun-13
Jun-14
1,826
%∆
YoY
10.3%
837
1,004
19.9%
312
369
18.2%
199
229
15.0%
662
761
813
6.8%
392
421
7.4%
Income Before Taxes
567
594
658
10.8%
256
363
42.0%
Net Income
475
493
545
10.7%
210
304
44.6%
Total Loans
20,665
23,696
26,195
10.5%
24,639
26,629
8.1%
Total Assets
29,259
32,684
36,867
12.8%
33,565
39,404
17.4%
Total Deposits
18,020
19,689
21,119
7.3%
19,991
21,442
7.3%
2,219
2,579
2,873
11.4%
2,677
3,009
12.4%
2011
2012
2013
Operating Revenues
1,473
1,656
Provision Expenses
259
Operating Expenses
US$ Million
%∆
US$ Million
Equity
Figures are converted to US$ using an FX of USD/CLP of 550.6 (June 30th 2014)
Corporate
Presentation
2014
Corporate
Presentation
2013
25

Department`s Time Schedule 2016 - Hochschule Bonn-Rhein-Sieg

LSG 2014