Slides
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Earnings Presentation 2Q25 August 6th, 2025
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Economic & Banking Industry Overview
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GDP growth driven by strengthening domestic demand 3 Unemployment Rate % Domestic Demand Components YoY, % Chile’s GDP Growth YoY, % Source: Central Bank of Chile, National Institute of Statistics. 4.5% 0.7% -2.1% -0.3% -0.1% 1.4% 1.1% 3.3% 1.2% 2.0% 4.0% 2.3% -3% -2% -1% 0% 1% 2% 3% 4% 5% Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 10.9% 5.3% -40% -30% -20% -10% 0% 10% 20% Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 Cientos Durable goods Machinery & equipment 8.9% 7% 8% 8% 9% 9% 10% Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25
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Lower inflation supports a more expansionary monetary policy 4Source: Central Bank of Chile, Bloomberg. Note: Multilateral Dollar is measured by the DXY Index. CLP and Multilateral Dollar CLP/ USD; Index Overnight Rate % Headline and Ex Volatile CPI YoY, % 4.1% 3.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 CPI CPI ex volatile 80 90 100 110 120 600 700 800 900 1000 1100 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 CLP DXY (Right Axis) 0% 2% 4% 6% 8% 10% 12% Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 4.75%Aug-25
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Chile: Baseline Scenario 5 Banco de Chile’s Forecast YoY, % Source: Central Bank of Chile, Banco de Chile. 2020 2021 2022 2023 2024 2025f GDP -6.1 11.3 2.2 0.5 2.6 2.3 Consumption -6.6 19.4 2.5 -3.5 1.4 2.1 Investment -10.8 16 4.6 -0.1 -1.4 4.5 Exports -0.9 -1.5 0.8 0.1 6.6 3.5 Imports -12.3 31.9 1.3 -10.9 2.5 4.8 CPI 3 7.2 12.8 3.9 4.5 3.9 Overnight Rate (EOP) 0.5 4.00 11.25 8.25 5.00 4.25 Exchange Rate (EOP) 711 850 859 885 992 950 Fiscal Balance (% GDP) -7.3 -7.7 1.1 -2.4 -2.9 -2.1 Current Account (% GDP) -1.9 -7.4 -8.9 -3.2 -1.4 -3.0
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Banking Industry Results 6 2.4% 2.5% 2.5% 2.4% 2.4% 159% 150% 147% 149% 148% -1000% -800% -600% -400% -200% 0% 200% 2Q24 3Q24 4Q24 1Q25 2Q25 -0.2% 0.3% 0.8% 1.3% 1.8% 2.3% 2.8% 3.3% 3.8% NPL Coverage Total 1. Including additional provisions. 2. Excluding foreign subsidiaries. 3. GDP as of March 2025 (LTM). Quarterly Net Income Billions of CLP 1,346 1,308 1,220 1,440 1,430 16.4% 15.8% 14.3% 16.5% 16.3% 2Q24 3Q24 4Q24 1Q25 2Q25 1,000 1,050 1,100 1,150 1,200 1,250 1,300 1,350 1,400 1,450 1,500 Net Income ROAE Coverage1 and NPLs2 90d NPLs Ratio & Coverage Ratio Loans to GDP Ratio2,3 % Real Loan Growth by Product2 2019=100 Covid-19 Pandemic (Mar-20) 79% 82% 84% 84% 82% 87% 93% 92% 85% 86% 83% 78% 77% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Jun-25 97.1 82.0 118.2 89.9 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Total Loans Consumer Mortgage Commercial
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Strategic Priorities and Advances
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Our Strategic Framework and Aspirations 1. ROAC: Return on Average Capital and Reserves. 2. Among relevant peers. 3. Excluding foreign subsidiaries. 4. Based on Merco Ranking. 8 Corporate Reputation4 Target: Top 3 Net Promoter Score Target: ≥73% Cost to Income Ratio Target: ≤42% Market Share2,3 Target: Top 1 Demand Deposits (LC) Top 1 Commercial Loans Top 1 Consumer Loans ROAC1 Target: Top 1 MID-TERM TARGETS 8 Boosting Technological evolution IncreasingEfficiency andProductivity Accelerating Digital solutions StrengtheningCommercial activity Developing Skillsandtalent Managing sustainability commitmenttoChile W ithefficiencyand productivity With customer –centric decision making Committedto SustainabilityandChile With collaboration WHATHOWWHAT FOR PURPOSESTRATEGIC PILLARS BUSINESS SCOPES Contributing to the development ofChile, its people and companies
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9 Key Business Advances FOGAES Program State-guaranteed credit programs designed to stimulate business activity through housing construction and mortgage loans. FAN Digital Accounts +30% Cross selling to current accounts Credit cards and Microloans for FAN customers. AI Virtual Assistants Expansion of AI virtual assistants to support customers and employee enhancing experience and productivity. Technology Savings IT infrastructure management services, cloud cost control initiatives and renegotiation of licensing agreements.Increase in Productivity driven by technology advances and digital sales. Integration of Debt Collections Subsidiary which enables synergies, improve operational efficiency and customer experience. New Digital Functionalities Authentication tools for individuals and companies, app integration and credit simulators.Social Bond Placement of ESG Bond in Switzerland for US$122 million to finance social projects.
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2Q25 Financial Results
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1.7% 2.4% 1.6% 1.7% 1.1% 1.3% 2018 2019 2020 2021 2022 2023 2024 Jun-25 BCH Santander BCI Banco de Chile continues to lead in financial performance… 11 324 288 298 329 305 2Q24 3Q24 4Q24 1Q25 2Q25 Quarterly Net Income¹ Billions of CLP ROAC 25.7% 22.9% 23.8% 21.4% 23.3% ROAE 24.6% 21.3% 21.5% 23.3% 20.5% Var UF 1.3% 0.9% 1.3% 1.2% 1.0% Net Income Market Share % as of June 2025 1. Net income attributable to equity holders. 2. Data on proforma basis for the new local Compendium of Accounting Standards. Var UF 2.9% 2.7% 2.7% 6.6% 13.3% 4.8% 4.4% 2.2% ROAA2 Return on Average Assets 22.1% 19.5% 18.6% 7.2% 6.9% BCH Santander BCI Itaú Scotiabank
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609 598 605 618 626 161 123 173 162 137 771 721 778 779 763 2Q24 3Q24 4Q24 1Q25 2Q25 Non-customer Income Customer Income …driven by customer income and the best margins among peers 12 Operating Revenues Billions of CLP Var UF 1.3% 0.9% 1.3% 1.2% 1.0% NIM 5.0% 4.6% 5.2% 5.0% 4.7% NIM Net Interest Income/Avg. Interest Earnings Assets, Annualized 4.3% 4.8%4.3% 4.0% 3.5% 3.6% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 BCH Santander BCI 6.1% 6.6% 5.3% 4.5% 5.8% 5.6% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 Operating Margin Operating Income/Avg. Interest Earnings Assets, Annualized Fees Margin Fees/Avg. Interest Earnings Assets, Annualized 1.3% 1.4% 1.0% 1.1%1.1% 0.7% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 YoY +2.7% -15.4% -1.1%
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19.9 20.1 20.1 12.7 13.2 13.7 5.3 5.6 5.6 37.9 38.9 39.4 2Q24 4Q24 2Q25 Commercial Mortgage Consumer Loan growth lagging behind economic activity 13 Total Loans Trillions of CLP +1.3% +3.9% 1. Industry: Excluding foreign subsidiaries Real Loan Growth by Product1 Base 2019=100, as of June 2025 Financial 15% Retail, Hotels, Rest. 12% Construction 3% Real Estate 8% Manufacturing 8% Agriculture 9% Other 14%Utilities 1% Mining 4% Fishing 1% Transport 6% Communication 1% Social and Personal Services 18% Commercial Loans by Economic Sector % of total, as of June 2025 97 82 118 9095 89 107 89 Total Consumer Mortgage Commercial Industry Banco de Chile
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26.1% 28.7% 2.5% 19.3% 13.1% 10.1% 2Q25 14.3% 73.8% 0.9%5.6% 5.4% 2Q25 HTM AFS Total Loans Other Our robust funding base is a key competitive advantage 14 Balance Structure % over total assets Demand Deposits Debt Issued Other EquityTrading UF GAP Evolution in the Banking Book UF GAP in Billions of CLP and Inflation (Monthly Var UF) in % Financial Institutions & Central Bank Assets Liabilities & S/E Liquidity Ratio Regulatory Limit June 2024 June 2025 LCR 100% 256% 195% NSFR 90% 122% 117% 35.4% 31.9% 27.0% 17.9% 17.3% BCH Santander BCI Itau Scotiabank Demand Deposits to Loans1 % of total loans 1. Excluding foreign subsidiaries. Savings Accounts and Time Deposits 6,774 8,955 0.2% 0.2% -0.9% -0.4% 0.1% 0.6% 1.1% 1.6% - 2,000 4,000 6,000 8,000 10,000 12,000 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 BCH Delta UF MensualMonthly Var UF %
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Solid capital base 15 11.1% 10.9% 12.2% 13.0% 13.6% 13.7% 14.4% 14.0% 10.6% 10.1% 10.9% 9.2% 11.1% 11.1% 10.5% 10.9%10.5% 10.2% 10.1% 10.0% 9.4% 11.1% 11.0% 11.1% 2018 2019 2020 2021 2022 2023 2024 Jun-25 Banco de Chile Santander BCI CET1 Ratio Common Equity Tier 1 (CET1)/ Risk Weighted Assets (RWA) 11.9% 4.9% Industry* Basel III Ratio June 2025 *As of May 2025. 14.0% 10.9% 11.1% 3.8% 6.1% 4.3% BCH Santander BCI CET 1 AT1 + TIER 2 17.8% 16.8%17.0% 15.4% • Leading Capital Ratios: Highest CET1 ratio at 14.0% and total Basel III capital ratio of 17.8%, exceeding regulatory standards and peers. • Sound Capital: Addresses regulatory challenges. • Strategic Slack: Supports future organic or inorganic growth if opportunities arise. • Strict Chilean Regulations: Characterized by high Risk-Weighted Assets (RWA) density. • Robust Capital Position: Sustained by high profitability over the last five years solid earnings retention practices, which has coupled with subdued loan growth. Capital Management Strengths 15
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825 928 791 1,297 631 229 107 179 252% 151% 137% 120% 0.0% - 200 400 600 800 1,000 1,200 1,400 Banco de Chile BCI Itau Santander Add Prov Allowances for Loans Losses Coverage (Allowances for loan losses + Add Prov to NPLs) Expected Credit Losses Billions of CLP Provisions and Coverage Billions of CLP, as of June 2025 95 80 103 90 96 2Q24 3Q24 4Q24 1Q25 2Q25 1. Individual Financial Statements. Delinquency Ratio1 NPLs to Total Loans 1.2% 1.5% 2.2% 3.0% 1.7% 2.0% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 Banco de Chile Santander BCI Cost of Risk 1.00% 0.84% 1.08% 0.93% 0.98% 1,456 1,476 1,157 898 16 1.1% 1.4% 1.1% 1.4% 1.9% 1.8% 1.2% 1.5% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 Commercial Mortgage Consumer Total BCH NPLs Composition NPLs to Total Loans Leading asset quality among peers +1.5%
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Productivity improvements have contained the cost base 17 Total Expenses Billions of CLP Annual Variation in Total Expenses Billions of CLP Efficiency vs Peers Operating expenses to Operating Income Var UF (LTM) 4.1% 4.7% 4.4% 4.9% 4.5% 138 140 163 141 140 103 102 103 107 107 32 32 37 33 34 2Q24 3Q24 4Q24 1Q25 2Q25 Personnel Administrative Dep, Amort & Other 2Q24 Personnel Administrative Dep, Amort & Other 2Q25 +4.4 +2.6 281+1.1273 +3.0% 273 273 303 281 281 44.8% 36.4% 42.5% 35.3% 50.9% 50.1% Average 2015-2019 2020 2021 2022 2023 2024 Jun-25 Banco de Chile Santander BCI
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2Q25 Key takeaways • We have adjusted our GDP growth forecast for 2025 to 2.3%, from 2.0%. • Chile’s solid macro fundamentals and capacity to implement countercyclical policies provide important buffers in a more volatile global environment. • We have revised our guidance up FY2025: ROAC ~ 21% NIM ~ 4.7% Efficiency ~ 38% Cost of Risk ~1.0% • Banco de Chile is well-positioned to face the current environment, supported by a strong customer base, solid asset quality, and robust capital levels. • We are confident in our capacity to continue being the most profitable bank in Chile in the long run. Profitability and Capital Size of circle is ROAA, as of June 2025 0 100 200 300 400 500 600 700 800 9.5% 10.5% 11.5% 12.5% 13.5% 14.5% Net Income (Billion CLP) CET1 Capital Ratio BSAN 1.7% BCI 1.3% BCH 2.4%$634 14.0% 18
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Appendix: Consolidated Balance Sheet Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) 19 These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, simultaneously or previously to file this quarterly earnings report. Such documentation is equally available at Banco de Chile’s website both in Spanish and English.
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Appendix: Consolidated Balance Sheet Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) 20 These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, simultaneously or previously to file this quarterly earnings report. Such documentation is equally available at Banco de Chile’s website both in Spanish and English.
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21 Appendix: Consolidated Statement of Income Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, simultaneously or previously to file this quarterly earnings report. Such documentation is equally available at Banco de Chile’s website both in Spanish and English.
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22 Appendix: Consolidated Statement of Income Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, simultaneously or previously to file this quarterly earnings report. Such documentation is equally available at Banco de Chile’s website both in Spanish and English.
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23 Appendix: Selected Statistical Information Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, sim
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24 Appendix: Selected Statistical Information Chilean GAAP- In millions of Chilean pesos (MCh$) and US dollars (MUS$) These results have been prepared in accordance with Chilean GAAP on an unaudited, consolidated basis. All figures are expressed in nominal Chilean pesos (historical pesos), unless otherwise stated. All figures expressed in US dollars (except earnings per ADR) were converted using the exchange rate of Ch$931.38 per US$1.00 as of June 30, 2025. Earnings per ADR were calculated considering the nominal net income, the exchange rate and the number of shares outstanding at the end of each period. Banco de Chile files its consolidated financial statements, together with those of its subsidiaries, with the Financial Market Commission, on a monthly basis. In addition, Banco de Chile files its quarterly financial statements (notes included) with the SEC in form 6K, sim
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The information contained here in incorporates by reference statements which constitute ‘‘forward-looking statements,’’ in that they include statements regarding the intent, belief or current expectations of our directors and officers with respect to our future operating performance. Such statements include any forecasts, projections and descriptions of anticipated cost savings or other synergies. You should be aware that any such forward-looking statements are not guarantees of future performance and may involve risks and uncertainties, and that actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, without limitations, the actions of competitors, future global economic conditions, market conditions, foreign exchange rates, and operating and financial risks related to managing growth and integrating acquired businesses), many of which are beyond our control. The occurrence of any such factors not currently expected by us would significantly alter the results set forth in these statements. Factors that could cause actual results to differ materially and adversely include, but are not limited to: • changes in general economic, business or political or other conditions in Chile or changes in general economic or business conditions in Latin America; • changes in capital markets in general that may affect policies or attitudes toward lending to Chile or Chilean companies; • unexpected developments in certain existing litigation; • increased costs; • unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms; • natural disasters or pandemics; • the effect of tax laws or other kind of regulation on our business; • other risk factors as reported in our form 20F filed with the U.S. SEC. Undue reliance should not be placed on such statements, which speak only as of the date that they were made. Our independent public accountants have not examined or compiled the forward-looking statements and, accordingly, do not provide any assurance with respect to such statements. These cautionary statements should be considered in connection with any written or oral forward-looking statements that we may issue in the future. We do not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Forward Looking Information 25