Hello, everyone. Ladies and gentlemen, thank you for standing by, and welcome to the Banco Itaú Chile third quarter 2024 financial results conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star and the number 1 on your telephone keypad. Please be advised that today's conference call is being recorded. If you require any assistance, please press star and then 0. I would now like to turn the conference over to your speaker for today, Claudia Labbé, Head of Investor Relations. Please begin. Thank you. Good morning, everyone. Thank you for joining our third quarter 2024 conference call. I would like to remind you that our remarks may include forward-looking information, and our actual results could differ materially from what is discussed in this presentation. I would also like to draw your attention to the financial information included in this management discussion and analysis presentation, which is based on our managerial model, in which we adjust for non-recurring events and apply managerial criteria to disclose our income statement. Please remember that since the second quarter 2019, we are presenting our income statement in the same manner as we do internally. This managerial financial model reflects how we measure, analyze, and discuss financial results by segregating commercial performance, financial risk management, credit risk management, and cost efficiency. We believe this way of presenting our results will give you a clearer and better view of our performance from these different perspectives. Please refer to pages 16 to 18 of our report for further details. Before moving on to the presentation, I am pleased to welcome André Gailey, our CEO since October first, and Matías Valenzuela, Head of Financial Planning, Analysis and Capital, who are today here with me in Santiago. Good morning, André. Good morning, Matías. Good morning. Thank you, all. Good morning. Thank you, everyone. It's a pleasure to be here today attending the conference call for our third quarter results. Claudia Labbé will continue with the presentation, and we will be available for questions. Thank you. As usual, we will start by updating you on our progress in implementing our strategy, as well as presenting the highlights of our third quarter results. This quarter, we are proud to begin this presentation by sharing the results of the third-party test service conducted by Ipsos. Remarkably, Itaú Chile has secured the top position in NPS for the third consecutive year. Additionally, we have recorded the lowest number of client claims in comparison with our industry in the past three years, significantly outperforming the banking system. Customer centricity is not only a key pillar of our strategy, but also one of our core values as a bank. In terms of achieving our strategy goals, maintaining the top position in client satisfaction within the Chilean banking industry for three consecutive years is pivotal for securing our leadership. This significant accomplishment underscores our dedicated efforts towards customer satisfaction and represents a substantial milestone in our journey towards excellence. On slide three, we delve into our latest efforts to strengthen brand positioning and introduce innovative financial initiatives. This quarter, we have launched the Hablemos campaign on social media, a groundbreaking financial education initiative. Through this campaign, we encourage our clients to engage in conversations about money and enhance their financial literacy. By doing so, we aim to contribute to their financial well-being while fostering a closer relationship as they strive to achieve their financial goals. On slide four, we showcase a revolutionary product launch onto the market this quarter, which highlights our dedication to customer satisfaction and product market fit, the new credit card tiers, Blue, Black, and Legend. This innovative offer underscores our commitment to customer centricity by democratizing and personalizing credit card benefits to cater to all of our clients. It empowers them to select the cost-benefit combination that best aligns with their needs. Ultimately, for us, it is the client who decides what serves them best. Moving on to slide five. We want to give you an update on the implementation of the changes in the board of directors and the executive committee that we communicated in the last quarter's presentation. Gabriel Moura was appointed as Vice Chairman of our Board of Directors, replacing Milton Maluhy Filho, effective as of October 1, 2024, and André Gailey has been acting as Itaú's Chief Executive Officer since the same date, replacing Gabriel. We are also excited to announce that Emiliano Muratore has been appointed as the new Chief Financial Officer of the bank, effective as of March 2025. Now on slide six, we show some highlights of our results this quarter. In the chart on the top left side of the page, we show that our ROE in Chile has reached 12.8% in this quarter, mainly influenced by systemic effects, which we will explain during the presentation and seasonality. In any case, we anticipate no changes in our expected ROE for the full year. At the top right side of the page, we can see that both net interest margin and margin with clients show a steady growth trend during 2024. The chart at the bottom left side of the page shows an enhancement in the bank's self-funding capacity, evidenced by the deposit to loans ratio, and also an enhancement in terms of liquidity, evidenced by the deposit plus assets under management to loans ratio. On the bottom right side of the page, we can see that growth in the non-interest expenses remains below inflation year-to-date, and our efficiency ratio remains stable year-on-year. On slide 7, let us now look at the macroeconomic dynamics that influenced this period. After a slow second quarter, economic activity improved in the third quarter, driven by increased dynamism in mining. Growth in the third quarter is expected to reach 2.6% year-on-year, surpassing the 1.6% shown in the second quarter of the year. Inflation increased in the second quarter, reaching 4% annually in September. In September, the board of the Central Bank of Chile unanimously voted to cut the monetary policy rate by 25 basis points, closing September at 5.6%. Rates are continuing into the fourth quarter. In September, the financial industry's loans totaled CLP 234.9 billion, achieving a nominal growth of 2.1% over 12 months. A persistent trend of contraction in credit activity stands out in relation to the industry's performance during recent crisis episodes and its subsequent recovery. As of the end of September 2024, the banking industry's demand deposits and time deposits had an increase of 3.7% and 2% respectively, compared to the same date in 2023. In the period, we can see a reduction in obligations with banks in the industry, reflecting, among other effects, the impact of the expiration of the use of the FCIC. Moving on to slide eight. In the third quarter of the year, consolidated recurring net income reached CLP 91.2 billion, a 28.6% increase year-on-year. Consolidated ROT showed a 1.6 percentage point decrease year-on-year, reaching 10.8%. Consolidated financial margin with clients grew by 0.3% year-on-year, reaching CLP 336 billion. Consolidated commissions and fees reached CLP 51.8 billion, evidencing a 13.4% growth year-on-year. Consolidated non-interest expenses grew 4.7%, reaching CLP 184.2 billion. Consolidated cost of credit had a 25.1% increase year-on-year, reaching CLP 102.1 billion. Consolidated credit portfolio reached CLP 25.3 trillion, while the consolidated efficiency ratio improved by 2.4 percentage points to 47.9 year-on-year. The consolidated Common Equity Tier 1 ratio reached 10.5%, a 48 basis point increase year-on-year. On slide nine, you can see that the financial margin with clients experienced an increase of 0.8% in the third quarter compared to the previous period. This growth is explained by a higher margin on loans and an increase in the volume of remunerated capital. Compared to the same quarter of 2023, the financial margin with clients grew by 5.4%. This increase was driven by the improvement in the spread of the loan portfolio, mainly in retail banking, higher activity in derivatives and FX transactions with clients, as well as the growth in the portfolio of time and demand deposits. These factors managed to counteract the effects of the decline in the average monetary policy rate for the current year. We continue to observe a positive trend underpinned by the steady growth in consumer loans. This progress aligns with our core strategy of strengthening customer relationships through the diversification of our funding sources and enhancing our services, particularly in asset management and client engagement. Let's move on to slide 10 to discuss the financial margin with the market. In the third quarter of the year, the financial margin with the market showed a decrease of 93.9% compared to the previous quarter. This was influenced by two systemic effects occurred during the quarter. The first one is related to the reduced profits recorded in the management of fixed income securities following the liquidation of the liquidity deposits maintained until July, when the final payment of the SPIC was completed. The second one is related to diminished results on USD variations during the third quarter, derived from a smaller change of the USD in the quarter. However, these negative effects were partially offset by higher results achieved by the trading desk. Compared to the third quarter 2023, the financial margin with the market decreased 87%. This reduction was due to the slower growth of the loan portfolio during the year, as well as the impact of the fixed income portfolio from the final SPIC payment made in July. Nevertheless, we are encouraged by the higher results derived from the management of the trading desk, showcasing our ability to adapt and optimize in a challenging environment. Now, on slide 11, we show that during the third quarter of the year, commissions and fees income reached CLP 44.2 billion, representing an increase of 2.8% compared to the previous quarter and of fifteen point four percent year-on-year. This increase is mainly due to higher income generated by structuring services, especially for Itaú Corporate clients. Additionally, the good performance in asset management commissions has been maintained, driven by a 6.4% growth in the managed portfolio balance quarter-on-quarter. In the yearly comparison, asset management commissions grew by 61% as a result of sustained growth in the average assets under management volume during the year. These positive movements have offset the 16.2% decrease in insurance brokerage fees compared to the previous quarter, which was affected by the lower dynamicity of commercial activity observed during the year. Moving on to slide 12. In the third quarter of the year, the cost of credit reached CLP 79.8 billion, representing an increase of 1.8% compared to the previous quarter. This change in relation to the previous quarter is influenced by specific recoveries recognized in the second quarter, mainly in the corporate segment, while the recoveries in the third quarter of 2024 are consistent with the trend of previous quarters. The level of cost of credit in the third quarter is in line with the net cost of the previous quarters. Provisions for loan losses were affected by a negative effect due to our decision to recognize the impairment of an asset related to a specific single name of Itaú Corporate in July, based on the analysis of available information. This effect was recognized in July's accounting performance information released to the market under operational income and reclassified to cost of credit in the managerial statements according to the methodology explained in our MD&A. On the other hand, we recognize a reversal of additional provisions from the retail portfolio amounting CLP 53.1 billion, corresponding to provisions constituted in previous years, anticipating the effect of higher post-pandemic delinquency and the application of new standard consumer metrics, which ultimately did not have the estimated impact. Compared to the third quarter 2023, the cost of credit showed an increase of 31.9% as a result of higher consumer write-offs recorded in the quarter. The NPL coverage ratio totals 141.7% in the third quarter, decreasing by 5.4 percentage points compared to the previous quarter due to a decrease in the NPL portfolio of 4.1%, which is bigger than the 1% decrease in the total credit provision, including additional provision. Compared to the third quarter of 2023, the coverage ratio decreased 24 percentage points as a consequence of the 13.8% growth in the NPL portfolio, while the stock of provision, including additional provision, totals an expansion of 5.7%. The NPL ratio showed a decrease of 9 basis points compared to the previous quarter, reaching 2.2%, while the loan balance remained without significant variation, mainly due to a decline in the interest of commercial and consumer portfolios. The NPL ratio for the consumer segment had a decrease of 23 basis points compared to the previous quarter, mainly due to a decrease of 8.2% in the non-performing portfolio in a context where the level of consumer credit activity is relatively low across the industry, having had a 1.5% decrease in the quarter. As mentioned in previous presentations, the delinquency of the consumer portfolio, due to its intrinsic characteristics, has been affected by the existing macroeconomic scenario since the end of the pandemic, showing an upward trend since early 2022. This situation is mainly explained by the fact that part of the portfolio's restructure during the pandemic period could not subsequently adjust to the agreed payment requirements due to the persistence of unfavorable macroeconomic conditions. However, it is not seen as a central scenario that the delinquency of this portfolio will continue to deteriorate. Conversely, the mortgage delinquency index increased by 12 basis points in the quarter compared to the previous quarter and by 41 basis points compared to the same period last year. We have closely monitored this trend, consistent with the banking system as a result of higher interest rates and inflation levels impacting installment payments. However, we do not anticipate significant effect on our credit costs beyond what has been outlined in our guidance. Meanwhile, the NPL ratio for commercial loans amounted to 2.42% or 2.13% excluding student loans, lower by 17 basis points than the ratio of the previous quarter and higher by 14 basis points compared to the same quarter in 2023. On slide 13, we show that non-interest expenses in the third quarter of 2024 grew by 2.8% year-on-year and 0.5% quarter-on-quarter, increasing below inflation year-to-date. The main drivers of these results are personnel expenses, which grew by 1.4% compared to the previous quarter and decreased by 0.9% year-on-year as a result of a 5.5% reduction in the bank's headcount. Administrative expenses did not show significant variation when compared to second quarter of the year, while the line had a 2.4% increase year-on-year, explained by higher expenses for advisory and consultancy services higher year-to-date. In the third quarter 2024, the efficiency ratio stood at 43.7%, showing a decrease of 5.2 basis points year-on-year and increasing by 2.9 percentage points compared to the ratio of the previous quarter. This quarter-on-quarter increase is mainly due to a 6.1% reduction in operating revenues, while non-interest expenses did not show significant variation compared to the previous quarter. On slide 14, we show a recap of volume growth during this period. The loan portfolio grew 1% in the last twelve months, while the industry grew by 2.1%, mainly as a result of slower growth than the market in the consumer portfolio. Consumer activity in the industry achieved a growth of 3% in September. The mortgage portfolio grew by 6.7% in the last twelve months, in line with the industry growth of 6.8% in September. In demand deposits, we grew by 14.7%, notably faster than the industry's twelve-month growth of 3.7%, especially due to a growth of 17% in demand deposits from companies compared to the 4.9% growth by the industry. In terms of time deposits, we continue to have a significantly higher growth of 10.6% when compared to the industry's 2% growth rate for both individuals and companies, in line with our focus on principal. Finally, we had a 66.9% growth in assets under management in the 12 months to September 2024, which is twice as fast as the industry's 36.3% growth, while we continue to grow assets under management faster than the market yet for another quarter. Moving on to slide 15, we show that we have increased our Common Equity Tier 1 ratio in this quarter by 23 basis points, outperforming our peers growth and achieving 11.2% Common Equity Tier 1 ratio, maintaining our capital levels within our peer group. Our liquidity ratios are also well-positioned among peers and significantly above regulatory limits, in line with our risk appetite and funding strategy. Let's now move on to slide 16 for an overview of our operations in Colombia. The economic activity outlook for the third quarter in Colombia is positive. GDP growth is expected to be 2.5% year-on-year by the end of September, in a context where the labor market remained resilient but investment dynamics remained weak. This inflation process continued in the third quarter. Annual inflation reached 5.81% in September, down from 7.2% in June. Core inflation remained persistent, standing at 6.1% due to the delay effect of past inflation on rental prices. In a divided decision, the board of the Banco de la República continued with the 60 basis point pace of rate cuts, closing September at 10.25%. Cuts of at least another 100 basis points are likely during the fourth quarter. On slide 17, we can see that the bank in Colombia continues to maintain a positive ROE and robust capital and liquidity ratios in comparison to its peers, despite the challenging environment with a 24.4% increase in recurring net income year-over-year. Itaú Colombia also outperformed its peers in the 30+ days NPL and cost of credit, showing consistency in this, in its strategy despite the challenging environment. On slide 18, we recap the key messages of this presentation. In the third quarter, the new credit card offering and the Hablemos campaign highlight our innovative approach and dedication to addressing our customers' needs. These initiatives align with our commitment to customer centricity and strengthen our product and service offering. Management changes demonstrate our focus on strong corporate governance based on meritocracy and our ability to attract talent. Results for the quarter are explained by systemic and seasonal effects in line with the industry's performance and considered within our business plan. We remain consistent with the strategy of balancing our loan mix, growing in deposits and assets under management, and controlling non-interest expenses despite seasonality and effects in the third quarter 2024. With that, we conclude the presentation that we have for you today. Thank you, Claudia and Matías for the presentation, and thank you everyone for participating with us today. With that, we'll gladly take any questions that you may have now. Thank you. We are now opening the floor for question and answer session. If you'd like to ask a question, please press star and then one on your telephone keypad. That's star and one on your telephone keypad. We will pause for a brief moment to wait for the questions to come in. As of right now, we don't have any raised hands. Oh, my apologies. We have a question from Alonso Aramburú from BTG Pactual. Your line is now open. Yes. Hi, good morning, and thank you for the call. I wanted to ask you about some dynamics, maybe post quarter. What you're seeing in terms of growth, if you're seeing any reactivation of lending activity, both in Chile and in Colombia, and if you have any lingering concerns about asset quality, or do you think you've already gone through the worst part of the cycle, especially in Colombia? Thank you. Perfect. In terms of growth, we see activity picking up on this fourth quarter, and we expect that we'll start to grow our portfolio, slowly, both here in Chile and in Colombia. Above the corporate credits, we expect that most of the corporate credit, the cycle has improved and that we're going to positive trend looking forward, both in Chile and in Colombia. Okay. Thank you. With the cycle improving, do you have any sort of guidance maybe for what ROE can be in Colombia next year? We will share that, our guidance, in the next call after the fourth quarter results. Thank you. Again, if you'd like to ask a question, please press star one. We will pause for a brief moment to wait for the questions to come in. As of right now, we don't have any pending questions. I'd now like to hand back to the management for further remarks. Well, thanks for the question. We'll resume our agenda of holding post-earnings release meetings with our investors in the coming quarters. In the meantime, please feel free to reach out for any further questions that you have. Thank you and have a very good day. Thank you for attending today's call. You may now disconnect. Have a wonderful day.