| Employee Benefits |
As of December
31, 2024 and 2023, this item is composed as follows:
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Short-term employee benefits | |
| 143,305 | | |
| 144,455 | |
| Benefits to employees for contract termination | |
| 8,328 | | |
| 9,677 | |
| Total | |
| 151,633 | | |
| 154,132 | |
| (a) | Short-term employee benefits: |
| (i) | Compliance bonuses provision: |
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Balances as of January 1 | |
| 71,102 | | |
| 73,204 | |
| Net provisions established | |
| 54,087 | | |
| 58,135 | |
| Provisions used | |
| (56,833 | ) | |
| (60,237 | ) |
| Total | |
| 68,356 | | |
| 71,102 | |
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Balances as of January 1 | |
| 43,257 | | |
| 41,257 | |
| Net provisions established | |
| 8,433 | | |
| 10,250 | |
| Provisions used | |
| (8,866 | ) | |
| (8,250 | ) |
| Total | |
| 42,824 | | |
| 43,257 | |
| (iii) | Other benefits provision: |
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Balances as of January 1 | |
| 30,096 | | |
| 14,119 | |
| Net provisions established | |
| 54,571 | | |
| 54,366 | |
| Provisions used | |
| (52,542 | ) | |
| (38,389 | ) |
| Total | |
| 32,125 | | |
| 30,096 | |
| (b) | Benefits to employees for contract termination: |
| (i) | Changes of the provision for employee benefits due to the termination of the employment contract: |
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Present value of the obligations at the beginning of the period | |
| 9,677 | | |
| 10,735 | |
| Increase in provision | |
| 586 | | |
| 1,357 | |
| Benefit paid | |
| (1,820 | ) | |
| (2,490 | ) |
| Effect of change in actuarial factors | |
| (115 | ) | |
| 75 | |
| Total | |
| 8,328 | | |
| 9,677 | |
| (ii) | Net benefits expenses: |
| | |
2024 | | |
2023 | |
| | |
MCh$ | | |
MCh$ | |
| Increase in provisions | |
| 137 | | |
| 881 | |
| Interest cost of benefits obligations | |
| 449 | | |
| 476 | |
| Effect of change in actuarial factors | |
| (115 | ) | |
| 75 | |
| Net benefit expenses | |
| 471 | | |
| 1,432 | |
| (iii) | Factors used in the calculation: |
The main assumptions used in the determination
of severance indemnity obligations for the Bank’s plan are shown below:
| | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
% | | |
% | |
| Discount rate | |
| 5.71 | | |
| 5.77 | |
| Salary increase rate | |
| 4.50 | | |
| 5.60 | |
| Payment probability | |
| 99.99 | | |
| 99.99 | |
The most recent actuarial valuation
of the staff severance indemnities provision was carried out during the third quarter of 2024.
| (c) | Share-based compensation programs: |
As of December 31, 2024 and 2023, the
Bank and its subsidiaries do not have a stock-based compensation plan.
|