v3.25.1
Financial Liabilities at Amortized Cost
 12 Months Ended
Dec. 31, 2024
Financial Liabilities at Amortized Cost [Abstract]  
Financial liabilities at amortized cost
20.Financial liabilities at amortized cost:

 

The item detail is as follows:

 

   2024   2023 
   MCh$   MCh$ 
Current accounts and other demand deposits   14,630,797    13,670,793 
Saving accounts and time deposits   14,345,223    15,538,196 
Obligations by repurchase agreements and securities lending   109,794    157,173 
Borrowings from financial institutions   1,103,468    5,360,715 
Debt financial instruments issued   9,690,069    9,360,065 
Other financial obligations   284,479    339,305 
Total   40,163,830    44,426,247 

 

(a)Current accounts and other demand deposits:

 

As of December 31, 2024 and 2023, the composition of current accounts and other demand deposits is as follows:

 

   2024   2023 
   MCh$   MCh$ 
Current accounts   11,769,419    11,025,685 
Other demand obligations   1,750,048    1,573,962 
Demand deposits accounts   652,075    625,923 
Other demand deposits   459,255    445,223 
Total   14,630,797    13,670,793 

 

(b)Saving accounts and time deposits:

 

As of December 31, 2024 and 2023, the composition of saving accounts and time deposits is as follows:

 

   2024   2023 
   MCh$   MCh$ 
Time deposits   13,764,830    14,979,565 
Term savings accounts   374,593    355,725 
Other term balances payable   205,800    202,906 
Total   14,345,223    15,538,196 
(c)Obligations by repurchase agreements and securities lending:

 

The Bank obtains financing by selling financial instruments and agreeing to repurchase them in the future, plus interest at a prefixed rate. As of December 31, 2024 and 2023, the repurchase agreements are the following:

 

   2024   2023 
   MCh$   MCh$ 
Transaction with domestic banks        
Repurchase agreements with other banks   
—
    
—
 
Repurchase agreements with the Central Banks of Chile   
—
    
—
 
Obligations from securities lending   
—
    
—
 
           
Transaction with foreign banks          
Repurchase agreements with other banks   
—
    
—
 
Repurchase agreements with foreign Central Banks   
—
    
—
 
Obligations from securities lending   
—
    
—
 
           
Transaction with other domestic entities          
Repurchase agreements   109,794    157,173 
Obligations from securities lending   
—
    
—
 
           
Transaction with other foreign entities          
Repurchase agreements   
—
    
—
 
Obligations from securities lending   
—
    
—
 
           
Total   109,794    157,173 

 

The fair value of the financial instruments delivered as collateral by the Bank and its subsidiaries, in sales transactions with repurchase agreement and securities lending as of December 31, 2024 amounts to Ch$109,505 million (Ch$157,089 million in December 2023). In the event that the Bank and its subsidiaries enter into default or bankruptcy, the counterparty is authorized to sell or deliver these investments as collateral.

(d)Borrowings from Financial Institutions:

 

As of December 31, 2024 and 2023, borrowings from financial institutions are detailed as follows:

 

   2024   2023 
   MCh$   MCh$ 
Foreign banks        
Foreign trade financing        
HSBC Bank   245,469    87,602 
Bank of New York Mellon   240,008    218,686 
Caixabank S.A.   201,802    48,918 
Bank of America   124,057    142,113 
Zurcher Kantonalbank   90,386    92,704 
DZ Bank AG Deutsche   41,646    
—
 
Standard Chartered Bank   2,685    119,794 
Citibank N.A. United States   2,189    51,297 
Wells Fargo Bank   1,890    42,117 
Commerzbank AG   1,417    40,766 
Others   71    92 
           
Borrowings and other obligations          
Wells Fargo Bank   150,775    132,523 
Citibank N.A. United Kingdom   986    
—
 
Citibank N.A. United States   
—
    35,345 
Commerzbank AG   
—
    117 
Others   87    60 
Subtotal foreign banks   1,103,468    1,012,134 
           
Chilean Central Bank (*)   
—
    4,348,581 
           
Total   1,103,468    5,360,715 

 

(*)Financing provided by the Chilean Central Bank to deliver liquidity to the economy and support the credit flow to households and companies, related to the Conditional Credit Facility to Increase Lending (FCIC by its Spanish initials). On July 1, 2024, the last phase of the program expired and was paid in full on that date.
(e)Debt financial instruments issued:

 

As of December 31, 2024 and 2023, the composition of debt financial instruments issued as follows:

 

   2024   2023 
   MCh$   MCh$ 
         
Letters of credit        
Letters of credit for housing   849    1,433 
Letters of credit for general purposes   1    11 
           
Bonds          
Current Bonds   9,689,219    9,358,621 
Mortgage bonds   
—
    
—
 
Total   9,690,069    9,360,065 

 

During the year ended December 31, 2024 Banco de Chile has placed bonds for Ch$1,012,638 million, which corresponds to Short-Term Current Bonds and Long-Term Bonds for amounts of Ch$28,049 and Ch$984,589 million respectively, according to the following details:

 

Short-term Bonds

 

 

Counterparty

  Currency  Amount MCh$   Annual interest rate %  

Issued

date

  Maturity date
Wells Fargo Bank  USD   28,049  
5,46
   05/07/2024  08/07/2024
Total      28,049           

Long-Term Bonds

 

Serie  Currency   Amount MCh$  

Terms

Years

   Annual interest rate %  

Issued

date

  Maturity date
BCHIEZ1121  UF    107,462   4   3.72   01/15/2024  05/01/2028
BCHIEZ1121  UF    31,197   4   3.72   01/16/2024  05/01/2028
BCHICE1215  UF    21,998   7   3.20   01/31/2024  12/01/2031
BCHICH1215  UF    7,350   8   3.15   02/08/2024  12/01/2032
BCHIFA0222  UF    32,349   4   3.25   03/15/2024  08/01/2028
BCHIFA0222  UF    19,518   4   3.32   03/21/2024  08/01/2028
BCHIEY1021  UF    12,474   4   3.29   03/22/2024  04/01/2028
BCHIFA0222  UF    14,228   4   3.29   03/25/2024  08/01/2028
BCHIGG1121  UF    12,345   11   3.35   03/26/2024  05/01/2035
BCHIFA0222  UF    3,566   4   3.24   03/27/2024  08/01/2028
BCHIEY1021  UF    17,696   4   3.28   04/04/2024  04/01/2028
BCHIEX0122  UF    9,231   1   3.10   04/12/2024  07/01/2025
BCHIEX0122  UF    14,793   1   3.02   04/17/2024  07/01/2025
BCHIHX1223  UF    32,225   20   3.49   05/08/2024  12/01/2044
BCHIHX1223  UF    11,376   20   3.49   05/09/2024  12/01/2044
BCHIHX1223  UF    5,727   20   3.46   05/17/2024  12/01/2044
BCHIHX1223  UF    15,283   20   3.46   05/22/2024  12/01/2044
BCHIHX1223  UF    37,202   20   3.55   06/04/2024  12/01/2044
BCHIFO0721  UF    3,575   8   3.48   06/06/2024  01/01/2032
BCHIEY1021  UF    3,606   4   3.20   06/10/2024  04/01/2028
BCHIGG1121  UF    8,366   11   3.53   06/11/2024  05/01/2035
BCHIFB1021  UF    21,220   5   3.35   06/12/2024  04/01/2029
BCHIEY1021  UF    12,648   4   3.29   07/09/2024  04/01/2028
BCHIFB1021  UF    39,504   5   3.50   07/09/2024  04/01/2029
BCHIFB1021  UF    1,796   5   3.49   07/09/2024  04/01/2029
BCHIFB1021  UF    5,399   5   3.45   07/10/2024  04/01/2029
BCHIFC0721  UF    37,442   6   3.47   07/11/2024  01/01/2030
BCHIFC0721  UF    7,147   6   3.43   07/12/2024  01/01/2030
BCHIHX1223  UF    7,550   20   3.50   07/18/2024  12/01/2044
BCHIFB1021  UF    25,454   5   3.23   07/23/2024  04/01/2029
BCHIFA0222  UF    18,404   4   3.04   07/24/2024  08/01/2028
BCHIFO0721  UF    19,198   8   2.50   09/27/2024  01/01/2032
BCHIHX1223  UF    94,840   20   2.36   09/30/2024  12/01/2044
BCHIHP1223  UF    220,035   16   2.37   10/01/2024  12/01/2040
Subtotal       932,204               
                        
BONO HKD       52,385   10   4.22   02/02/2024  02/09/2034
Subtotal other currencies       52,385               
Total       984,589               

During the year ended December 31, 2023 Banco de Chile has placed bonds for Ch$1,224,480 million, which corresponds to Short-Term Bonds and Long-Term Bonds for amounts of Ch$286,354 and Ch$938,126 million respectively, according to the following details:

 

Short-term Bonds

 

Counterparty

  Currency   Amount
MCh$		   Annual
interest
rate %		  

Issued

date

  Maturity
date
Wells Fargo Bank   USD    39,449    5.65   03/30/2023  08/01/2023
Wells Fargo Bank   USD    39,449    5.65   03/30/2023  07/28/2023
Wells Fargo Bank   USD    40,385    5.60   04/03/2023  10/02/2023
Wells Fargo Bank   USD    40,425    5.56   04/04/2023  09/01/2023
Wells Fargo Bank   USD    42,041    5.85   08/01/2023  02/01/2024
Wells Fargo Bank   USD    42,303    5.75   08/25/2023  11/27/2023
Wells Fargo Bank   USD    42,302    5.85   08/25/2023  01/22/2024
Total        286,354            

 

Long-Term Bonds

 

Serie  Currency   Amount
MCh$		  

Terms

Years

   Annual
interest
rate %		  

Issued

date

  Maturity
date
BCHIGI0322   UF    143,510    12    2.61   01/06/2023  09/01/2035
BCHIDG1116   CLP    9,179    4    6.55   03/16/2023  05/01/2027
BCHIDG1116   CLP    10,604    4    6.55   03/23/2023  05/01/2027
BCHIGG1121   UF    23,889    12    2.50   04/11/2023  05/01/2035
BCHICG0815   UF    18,716    9    2.65   04/28/2023  08/01/2032
BCHIGB0322   UF    16,521    11    2.78   05/18/2023  09/01/2034
BCHICH1215   UF    10,939    9    2.96   06/02/2023  12/01/2032
BCHIGB0322   UF    7,747    11    2.78   06/06/2023  09/01/2034
BCHIBU0815   UF    10,346    6    3.39   06/08/2023  08/01/2029
BCHIBU0815   UF    18,200    6    3.39   06/09/2023  08/01/2029
BCHICE1215   UF    27,024    8    2.94   06/09/2023  12/01/2031
BCHIFW1121   UF    142,385    10    2.89   06/12/2023  05/01/2033
BCHIBU0815   UF    23,372    6    3.26   06/15/2023  08/01/2029
BCHIGB0322   UF    7,217    11    2.78   06/16/2023  09/01/2034
BCHICI0815   UF    5,658    10    3.04   08/01/2023  02/01/2033
BCHICI0815   UF    18,388    10    3.35   08/18/2023  02/01/2033
BCHICH1215   UF    8,919    9    3.34   08/24/2023  12/01/2032
BCHIBO0815   UF    22,243    4    3.61   08/25/2023  02/01/2028
BCHIBO0815   UF    48,392    4    3.61   08/29/2023  02/01/2028
BCHICE1215   UF    9,349    8    3.27   08/29/2023  12/01/2031
BCHIFB1021   UF    6,996    6    4.16   11/03/2023  04/01/2029
BCHIFB1021   UF    14,667    6    4.16   11/07/2023  04/01/2029
BCHIEY1021   UF    29,979    5    4.26   11/08/2023  04/01/2028
BCHIFB1021   UF    3,335    6    4.16   11/09/2023  04/01/2029
BCHICI0815   UF    23,720    9    3.90   11/14/2023  02/01/2033
BCHICH1215   UF    6,964    9    3.90   11/14/2023  12/01/2032
BCHIFB1021   UF    22,046    6    4.16   11/15/2023  04/01/2029
BCHICE1215   UF    3,572    8    3.64   11/22/2023  12/01/2031
BCHICE1215   UF    10,748    8    3.60   11/23/2023  12/01/2031
BCHIGH1221   UF    133,306    12    3.67   12/01/2023  06/01/2035
BCHICH1215   UF    14,144    9    3.55   12/05/2023  12/01/2032
BCHICG0815   UF    9,137    9    3.31   12/18/2023  08/01/2032
BCHICH1215   UF    9,113    9    3.21   12/20/2023  12/01/2032
Subtotal        870,325                 
                           
BOND MXN   MXN    31,968    4    TIE (28 days) + 0.85   06/01/2023  06/03/2027
BOND JPY   JPY    35,833    2    0.75   06/08/2023  06/16/2025
Subtotal other currencies        67,801                 
Total        938,126                 

As of December 31, 2024 and 2023, the Bank has not presented defaults in the payment of principal and interest on its debt instruments. Likewise, there have been no breaches of covenants and other commitments associated with the debt instruments issued.

 

(f)Other Financial Obligations:

 

As of December 31, 2024 and 2023, the composition of other financial obligations as follows:

 

   2024   2023 
   MCh$   MCh$ 
         
Other Chilean financial obligations   284,479    339,281 
Other financial obligations with the Public sector   
—
    24 
Total   284,479    339,305