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LarrainVial | 19th Annual Andean Conference 2025 ItaúChile Santiago, Chile | March 18th – 19th
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2 Disclaimers • This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment, legal, tax or other advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this material are subject to change without notice and neither Itaú Chile (the “Bank”, “we,” “our,” “ours,” and “us”) nor any other person is under obligation to update or keep current the information contained herein. The information contained herein does not purport to be complete and is subject to qualifications and assumptions, and neither the Bank nor any agent can give any representations as to the accuracy thereof. The Bank and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. • Certain statements in this presentation may be considered forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as “anticipate,” “believe,” “expect,” “plan,” “intend,” “forecast,” “target,” “project,” “may,” “will,” “should,” “could,” “estimate,”“ predict” or similar words suggesting future outcomes or language suggesting an outlook. These forward-looking statements include, but are not limited to, anticipated future financial and operating performance and results, including estimates for growth, as well as risks and benefits of changes in the laws of the countries we operate. • These statements are based on the current expectations of the Bank’s management. There are risks and uncertainties that couldcause actual results to differ materially from the forward-looking statements included in this communication. For example, (1) the industry may be subject to future regulatory or legislative actions thatcould adversely affect the Bank; and (2) the Bank may be adversely affected by changes in general economic, business, regulatory, political or other conditions in Chile, Colombia or Latin America, or in the global economy. • Forward-looking statements and information are based on current beliefs as well as assumptions made by and information currently available to the Bank’s management. Although management considers these beliefs and assumptions to be reasonable based on information currently available to it, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Bank’s control. • We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements. Furthermore, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties nor can the Bank assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Any forward-looking statement contained in this presentation speaks only as of the date hereof and Itaú Chile does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement. • This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the U.S. Securities Act of 1933, as amended, or the applicable laws of other jurisdiction. Financial data included in this Presentation has been prepared in accordance with Chilean accounting principles or Chilean Bank GAAP, issued by the he Chilean Commission for the Financial Market ("CMF"). As a consequence, the standards used to prepare the Bank’s consolidated financial statements differ from the standards of the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). This presentation also includes non-Chilean Bank GAAP metrics such as Recurring Net Income and Recurring Return on Tangible Equity (“RoTE”). These metrics may not be comparable to similarly titled metrics used by other financial institutions. We believe the additional information is useful and meaningful to investors. The presentation of non-Chilean Bank GAAP financial measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with Chilean Bank GAAP. • The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material. • The Bank is an issuer in Chile of securities registered and regulated by the CMF. Shares of our common stock are traded on the Bolsa de Comercio de Santiago—Bolsa de Valores by nuam, or the Santiago Stock Exchange by nuam and the Bolsa Electrónica de Chile—Bolsa de Valores, or Electronic Stock Exchange, which we jointly refer to as the “Chilean Stock Exchanges,” under the symbol “ITAUCL.”. Accordingly, we are currently required to file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the CMF and provide copies of such reports and notices to the Chilean Stock Exchanges. All such reports are available at www.cmf.cl and ir.Itau.cl.
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Agenda Economic context Our business Corporate profile Our strategy Financial highlights 01 Additional information Corporate governance 02 03 04 05 06 07
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Corporate profile I n s t i t u t i o n a l P r e s e n t a t i o n
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5 Universal bank | We are key part of Itaú Unibanco’s internationalization strategy Itaú Chile’s consolidated loan portfolio represents 13% of Itaú Unibanco’s consolidated loan portfolio7 Regional footprint & main indicators 1, 2 1 Information as of December 30, 2024; 2 Figures were converted at an exchange rate of 899,28 CLP/USD; 3 Information as of September 30, 2024 for Chile and Colombia; 4 Headcount for Chile includes employees of our New York branch and for Colombia includes headcount of Itaú (Panama); 5 Branches for Chile include one branch in New York and for Colombia include one office in Panama; 6 Tangible Equity: Shareholders equity net of goodwill, intangibles from business combination and related deferred tax liabilities; 7 Considering the consolidated loan portfolios of Itaú Unibanco and Itaú Chile reported in their respective 3Q’24 MD&As at a Ch$ 164.98 / R$ foreign exchange rate as of 30.09.2024. Sources: Itaú Chile, CMF and SFC. Itaú Chile leverages its regional footprint as a part of Itaú Unibanco Group to serve our customers needs Assets (trillion) Ch$ 35.7 Ch$ 6.8 Ch$ 42.5 Loans (trillion) Ch$ 23.3 Ch$ 4.5 Ch$ 27 .9 Market Share 9.5% /3 2.7% /3 Headcount 4 4,719 2, 174 6,893 Branches5 145 72 217 Recurring Net Income 2024 /2 (billion) Ch$ 374.3 Ch$ 10.3 Ch$ 384.6 Recurring RoTAE2024 /6 14. 1% 1.5% 11.4% Corporate profile | About us
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6 Launch of First Nacional Bank of Boston in Chile 1977 1871 Creation of the Bank under the name of Banco de Concepción 1997 Banco Concepción rebranded to Corpbanca 2003 NYSE Listing ADR program (Voluntary Delisting completed in 2023) Bank of America takes control after merger with Bank of Boston in the USA 2004 Launch of Banco Itaú Chile 2007 2009 New York Branch 2012 Acquisition in Colombia of Banco Santander Colombia Acquisition of MCC, an asset manager and broker dealer 2011 1998 M&A of Consumer Finance Corfinsa and Financiera Condell 1971 - 1975 M&A of Banco Francés, Banco Italiano and Banco Valdivia 1995 INFISA (now known as Corp Group) acquired Banco Concepción 2002 Local IPO 2013 Acquisition in Colombia of Helm Bank 2017 Merger • Team building, corporate governance, risk management framework and other policies Merger between Banco Itaú Chile and Corpbanca 2016 Adaptable culture | Innovation | Transparency in business 2018 Transition • Initial roll Migration and client segmentation of retail clients in Chile • out of digital initiatives • Introduction of Itaú Brand in the Colombian retail Market 2019 Consolidation • Continue to deepen Itaú’s management model • Advance in the process of digital transformation • Start implementation of a transformation plan 2020 Crisis Management and Planning • Management of the COVID-19 crisis • Strategic planning to build the bank of the future Corporate profile | How have we envolved? 2025 onwards Growth • Strengthening customer satisfaction and principality • Increasing brand penetration • Developing product market fit • Enhancing balance of mix • Focus on growing while being profitable 2021 - 2024 Transformation • Implementation of transformation plan in Chile • Transformation planning in Colombia • Creation and implementation of the new itubers culture
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7 Changing Leagues Key Capabilities T o change leagues and compare ourselves with the world’s best companies in client satisfaction Our Way We value diversity and inclusion We are driven by results Ethics are non- negotiable We have each other´s back We don´t have all the answers We put the client first Our agenda Operational Efficiency Customer Relationship Product-Market Fit Our clients are at the center of everything we do Our Purpose Promoting people’s power of transformation Our Vision T o be the leading bank in sustainable performance and customer satisfaction Corporate profile | Changing Leagues
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Our business I n s t i t u t i o n a l P r e s e n t a t i o n
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9 Through our Retail and Wholesale Banking segments we offer a wide range of products and services tailored to each client profile Our Business | Who are our clients? Itaú Personal Bank >Ch$2.5 mn Itaú branch offices >Ch$600,000 – Ch$2.5 mn Itaú Private Bank >Ch$8.0 mn Corporate Banking Solutions (CBS) Corporate & Investment Banking (CIB) Large Corporate and Institutional Banking >US$8.0 mn Real Estate Banking Very small companies and SMEs Financial Advisory Investments Commercial Loans Guarantees Leasing Checking accounts Credit Cards Retail Loans Insurance Factoring Mortgages Itaú CorporateRetail Banking
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Our strategy I n s t i t u t i o n a l P r e s e n t a t i o n
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11 11 4, 1% 2, 1% jan-22 feb-22 mar-22 abr-22 may-22 jun-22 jul-22 ago-22 sep-22 oct-22 nov-22 dic-22 jan-23 feb-23 mar-23 abr-23 may-23 jun-23 jul-23 ago-23 sep-23 oct-23 nov-23 dic-23 ene-24 feb-24 mar-24 abr-24 may-24 jun-24 jul-24 ago-24 sept-24 oct-24 nov-24 dic-24 System Slow industry’s loan growth trend in 2024… …yet, we were able to sustained the loan mix built through our transformational process (2021-2023), which also influenced our growth pace in 2024… Banking industryItaú Steady growth in transactional products: Credit Card advances Commercial Consumer Mortgage 1 % transactions with credit card advances via web and app in 4Q24, 2 % transactions with foreign trade via web in 2024, Total 2. 1% 4. 1% Commercial 0. 1% 2.6% Consumer 1.0% 4.6% Mortgage 6.8% 6.2% Foreign Trade 5.7% Market Share 1st 2nd 3rd 4th 5th dec-23 dec-24 1st 2nd 3rd 4th 5th via Web in 2024 /264% via Web in 4Q24 /187% 5.8% 14.7% 15.2% Market Share Loan growth (%) | 12-month 62.3% 61.5% 59.8% 58.5% 9.5% 10.3% 10.8% 10.7% 28.2% 28.2% 29.4% 30.8% 2021 2022 2023 2024 Loans Mix Loans Growth (%) | 12-month trailing (%) | Total loans Volume Growth (%) | 12-month RETAIL WEIGHT +3.8pp Building upon our transformation Our strategy | Credit Products
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12 via Web in 4Q24 /1 94.7% 77.2% 73.6% 74.4% 75.1% 75.1% 74.6% 76.3% 79.4% 86.0% 89.0% 90.4% 90.5% 66.3% 63.9% 64.9% 66.2% 66.2% 65.1% 65.2% 67.0% 71.5% 73.1% 72.0% 70.8% 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 Itaú Chile data as of December 2024; Banking industry data according to CMF, AuM … and strengthening the relationship with our clients, Deposits and Current Account Balances ▲+ 11pp ▲+ 4pp Deposits/Loans (Deposits + AUM)/Loans System Demand Deposits Total 16.3% 6.7% Individuals 9.4% 5.7% Companies 18.5% 7 .7% Average Current Account balances 9.5% 4.4% Time Deposits 5.4% 5.3% 1 % transactions with time deposits of individual clients via web and app in 4Q24, 2 % transactions with funds of individual clients via web and app in 4Q24, 3 AuM by the end of the period, 4 (Time Deposits + Demand Deposits) / Loans 5 (Time Deposits + Demand Deposits + AuM) / Loans System AuM3 56.9% 36.4% (4Q24 vs, 4Q23) (4Q24 vs. 4Q23) +50pb Market Share Volume Growth (%) | 12-month 1,6x faster than the industry in AuM growth Top 1 in AuM growth among Chilean banks Top 2 in market share growth considering peers and other asset managers Volume Growth (%) | 12-month Deposits to Loans4 and Deposits + AuM to Loans5 Quarterly ( %) via Web in 4Q24 /288. 1% Building upon our transformation Este documento no debe ser utilizado, reproducido o transmitido sin previa autorización de Itaú Our strategy | Growth
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13 18% 8% 22% 17% Spot and Derivatives Markets1 + 415bp Dec -24Dec-23 + 866bp Growing significantly in products and services tailored to best serve our customers … Volume Growth (%) | 12-month Foreign Trade ▲22.7% 18.9% System Leader in Trade Finance 64% Investment Banking via web in 2024 Intermediation2 System Securities 86% 5% Fixed Income 31% 14% Volume Growth (%) | 12-month Market Share (%) | Stock by the end of period Spot Derivatives Top 4 /3 US$: 2.96 mn # Deals: 6 Top 2 /4 US$: 253 mn # Deals: 2 M&A ECM Recognized by our clients as one of the banks with the best macroeconomic analysis and Equity Research teams in Chile 1 Itaú Chile data as of December 2024; Banking industry data according to CMF, 2 Volume of transaccions wih clients in the secondary market excluding proprietary portfolio in the Chilean market, Source: Nuam , 3 Source: Dealogic League Tables, years 2023-2024, Ranking by transactions volume, 4 Source: Dealogic League Tables, year 2024, Ranking by transactions volume, 5 Source: RiskAmerica and Itaú, year 2024, Ranking by transactions volume, 6 Source: Bloomberg and Itaú, year 2024, Ranking by transactions volume, DCM Local 5 Ranked: 2 UF : 34.65 mn %: 23.1% International 6 Ranked: 3 US$: 2,157 mn # Deals: 6 Building upon our transformation Este documento no debe ser utilizado, reproducido o transmitido sin previa autorización de Itaú Our strategy | Growth
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14 Leveraging our regional footprint to serve our customers needs Product Capabilities Comprehensive insurance offering through partnership with Cardif Insurance Investments Totally customizable Extensive offering for the entire family Flexible We are developing an ecosystem with additional assistance ad-hoc to the coverage provided Life Home Travel Our strategy | Product Capabilities Independent Financial Advisors (IFAs) Open Investment Platform P R O D U C T S Money market Allows investment in short-term debt mutual funds with a duration of less than or equal to 90 days. National debt National debt mutual funds. Itaú International Debt Mutual Funds Investment in time deposits, government bonds, corporate and bank bonds. Itaú Balanced Mutual Funds They combine investments in debt instruments and equity investments. Mutual Funds Itaú Accionarios They invest in stocks, ADRs, funds and ETFs with underlying stock. Itaú Mutual Funds Index They replicate the performance of an Equity or Debt Index. Mutual Funds Itaú Inversión Inmobiliarios Investment funds that are indirectly exposed to real estate projects.
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15 Maintaining and enhancing our leadership in customer satisfaction in all segments1 TOP 1 Retail 2022, 2023, 2024 TOP 2 SME 2024 TOP 1 Companies 2024 TOP 1 High Net Worth Individuals 2024 within our most valuable distinguishing factors 1 According to Servitest survey conducted by IPSOS, 2 Among Chilean banks and relevant financial services providers in Chile, APP: #1 on users’ reviews2 2023, 2024 (App Store, Google Play and App Gallery) Leader in NPS1 Quality of attention Website and App Solution and response Suitability, adaptability Services and Products Customer Centricity Este documento no debe ser utilizado, reproducido o transmitido sin previa autorización de Itaú Our strategy | Customer Centricity
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16 Itaú Chile | Conference Call 4Q'24 The largest financial institution with the most valuable brand in Latin America, deepening its penetration in Chile… …with a recognizedly strong culture within our unique value propositions, guiding us to achieve our goals 85% eNPS Nov′24 Highest historical eNPS Brand and Culture within our most valuable distinguishing factors Our strategy | Brand and Culture
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17 Cost Control within our most valuable distinguishing factors 103.2 104.7 100 108.2 114.8 104.6 109.2 2022 2023 2024 Strong focus in cost control 1 Average peer group is the simple average of the growths of each bank in the peer group. Peer group includes the 4 largest private banks in Chile by loans. 2 For the purpose of comparability with the banking industry, Banco Itaú’s Administrative Costs include “other operational costs”. Non-interest expenses Basis 100 = Dec.22 14.0% 1.2% -0.8% 11.8% 8.1% 3. 1% 2022 2023 2024 32.8% 0.4% 1.5% 15.1% 10.9% 10.8% 2022 2023 2024 -51.7% 26.1% 19.2%3.7% 5.8% 2. 1% 2022 2023 2024 Personnel Administrative Costs2 Depreciation, Amortization and Impairment• Costs growing less than inflation, the banking industry and the average of our peer group’s growth • Efforts to lower costs levels in 2023 kept its significant results through 2024 in personnel and administrative costs • Impact of the execution of projects and investments in depreciation, amortization and impairment costs Growth (yoy %) Growth (yoy %) Growth (yoy %) Banking industryItaú Average Peer Group1 Banking industryItaú Banking industryItaú Banking industryItaú Our strategy | Cost Control
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18 13.4% 10.4% 10.3% 10.5% 10.6% 14.2% 10.6% 10.9% 10.7% 10.3% Capital within our most valuable distinguishing factors CET1 Fully loaded Information on peers and Itaú Chile as of Dec′24 Δ CET1 (YoY) Peer A Itaú Chile Consolidated Peer D* Peer C Peer B Buffer 540 bp 210 bp 200 bp 140 bp 130 bp 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 4Q23 4Q24 Peer group includes the 4 largest private banks in Chile by loans. Capital management is in our DNA Top 2 largest buffer over minimum regulatory requirements No additional capital charge for Pillar 2 by CMF for the second consecutive year Peer group includes the 4 largest private banks in Chile by loans. Our strategy | Capital
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19 | S&P Global CSA Score2 70/100 37/100 +10 points vs, 2023 Data availability: Very High Outperformed Chilean banking industry in 23,627 17,860 15,796 9,414 8,011 7 ,604 2019 2020 2021 2022 2023 2024 Operational decarbonization2 Total Greenhouse Gas Emissions (ton CO2e) 2 Verified by the Ministry of Environment of Chile Climate Transition - Zero Emissions by 2050 Positive contribution to society Financial Inclusion • 201 women attending the “Itú Emprendimiento Mujer” workshop”, • 150 entrepreneurs' women trained in partnership with Korea Foundation, Charitable Support and Disaster Relief • ~1,400 hours donated for the reconstruction of 13 temporary housing & training community leaders on resilience and disaster prevention, • 3,300 children and teenagers benefited by Fundación Itaú initiatives, Governance, ethics and security Promoting a diverse and inclusive culture Empowering female talent • Scholarships and post-degree co-financing • STEM Girls and STEM Talent • WiF Incubator • Mentoring Approximately 200 girls and women directly impacted Industry Average For the 6th consecutive year, constituent of the DJBICMILA Pacific Alliance 1 1 On February 10, 2025,, the family of Dow Jones Sustainability Indices (DJSI) were renamed to “Dow Jones Best -in-Class Indices”. 2 Source: S&P Global CSA as of November 7, 2024 (CSA = Corporate Sustainability Assessment), • Business ethics (1st) • Financial inclusion (1st) • Human capital management (1st) • Climate strategy (2nd) • Decarbonization strategy (2nd) within our most valuable distinguishing factors Sustainability Our strategy | Brand and Culture
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Corporate Governance I n s t i t u t i o n a l P r e s e n t a t i o n
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CEO André Gailey C F O Emiliano Muratore 21 André Gailey acting as Chief Executive Officer since October 1, 2024 Emiliano Muratore appointed as new Chief Financial Officer effective as of March 13, 2025 Executive Committee Gabriel Moura entered the Board of Directors and appointed as Vice-Chairman replacing Milton Maluhy effective as of October 1, 2024 Board of Directors Corporate Governance Corporate Governance | Corporate Governance Kevin Cowan will replace Pedro Samhan as a member of the Board of Directors on March 31, 2024 (subject to AGM approval in April 2025)
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22 Corporate Governance | Our management Board Chile Chairman Ricardo Marino Baruc SáezChairman André Gailey Directorio Colombia Board Colombia Mónica Aparicio Sergio Muñoz Diego Fresco Julián Acuña Eduardo Neves Mauricio Baeza Chairman4 André Gailey CEO Itaú Colombia Itaú Chile CEO Board Chile 1 Chairman Ricardo Marino Gabriel Moura (Vice Chairman) Pedro Lorenzini Matias Granata Diego Fresco Rogério Braga Pedro Samhan2 Luis Bofill CRO Mauricio Baeza Treasury Daniel Brasil Colombia Baruc Sáez Wholesale & Investment Banking Sebastián Romero Retail Julián Acuña Legal Cristián Toro Human Resources & Sustainability Marcela Jiménez TI Eduardo Neves 1 Itaú Unibanco appoints the majority of the members of the board of directors. 2 Pedro Samhan cesará en su cargo el día 31 de marzo de 2024. En su reemplazo, asumirá Kevin Cowan Logan a partir de 1 de abrilde 2025, también como Director Independiente. El nombramiento definitivo se realizará en la próxima Junta Ordinaria de Accionistas el 24 de abril de 2025. 3 Desde marzo de 2025. CAE Emerson Bastián CRO Frederico Quaggio Treasury Camila Vásquez2 Wholesale Jorge Villa Compliance Carlos Díaz Digital Víctor Tavares Retail Banking Commercial Jorge Max Human Resources Cristian Peñafiel Legal & General Secretary Dolly Murcia DOTT2 Frederico Buril CFO Juan Canel André Gailey Our management CFO3 Emiliano Muratore3 Audit Committee Matrix reporting to CEO Colombia and functional reporting to Itaú Chile. Functional reporting to CEO Colombia and matrix reporting to Itaú Chile for coordination of specific themes
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23 Experienced management team recently strengthened, in line with long term growth strategy Corporate Governance | Our management 1 André Gailey was appointed to take the position of CEO of Itaú Chile starting October 1st, 2024. 2 Emiliano Muratore was appointed of CFO starting on March 13, 2025. Itaú Colombia S U P P O R T Itaú Colombia Baruc Sáez Wholesale Sebastián Romero Retail Julián Acuña CEO André Gailey Legal Cristián Toro IT Eduardo Neves CRO Mauricio Baeza HR, Sustainability & Marketing Marcela Jiménez B U S I N E S S Treasury Daniel Brasil CFO Emiliano Muratore
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24 Board of directors Our Board of Directors consists of professionals with exceptional knowledge and expertise in different areas of expertise, some of the key differentials of our management. Board Member Directors Committee Audit Committee Compensatio n and Talent Committee Integral Risk Committee Ricardo Marino Diego Fresco Matías Granata Pedro Lorenzini Pedro Samhan Octavio Bofill Rogério Braga Chairman Members Participation of Board Members in our Committees 1 Independent Director; 2 Alternate Director. Board of Directors Members: 8 members – 2 independent members Main duties • Defining and monitoring the business strategy • Assessing mergers and acquisitions • Monitoring the Executive Committee performance • Appointing officers (meritocracy) • Approving the budget • Defining and supervising risk appetite and policies for capital use • Defining and monitoring incentive and compensation models and establishing goals • Supervising the technology strategy • Defining meritocracy policies • Supervising the business operation The board of directors’ evaluation process is carried out by our legal department. Each director evaluates himself/herself and the board as a collegiate body.
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25 Itaú has fourth steering committees comprised of directors, senior executives and external advisors, to support our highest governance body. The members of these committees are appointed by the Board 4 COMMITTEES Corporate Governance | Board of Directors' committees Director’s Committee Members ∙ Pedro Samhan (Independent Chairman) ∙ Octavio Bofill (Independent) ∙ Diego Fresco Duties The main purpose of this Committee, taking into account the provisions of Article 50 bis of Law No. 18,046 on Corporations, is to approve transactions with related parties, examine the bank's financial statements and executive compensation systems, recommend the hiring of the company's external auditors and risk rating agencies, propose to the Board of Directors policies on the management of conflicts of interest and make recommendations on general customary policies. Integral Risk Committee Members ∙ Matías Granata (Independent Chairman) ∙ Pedro Lorenzini ∙ Rogério Braga ∙ André Gailey ∙ Mauricio Baeza Duties The main objective of this committee is to support the board of directors in the identification, evaluation, management and control of all its risks and management and definition of the Bank’s risk appetite, including its dimensions of capitalization, credit risk, financial and liquidity risk, earnings composition, operational risk, cybersecurity risk and reputational risk; as well as to support the dissemination and strengthening of a risk culture in the bank. Compensation and Talent Committee Members ∙ Pedro Lorenzini (Chairman) ∙ Ricardo Marino ∙ André Gailey ∙ Sergio Fajerman Duties The purpose of this committee is to recommend the appointment of the Bank’s senior management and approve evaluation, compensation and long-term incentive policies and mechanisms. Audit Committee Members ∙ Pedro Samhan (Chairman) ∙ Ximena Cisternas ∙ Antonio Lima Neto ∙ Diego Fresco ∙ Fernando Malta Duties The main objective of the Audit Committee shall be to supervise the risk control environment and the efficiency of the company's internal control systems and compliance with its regulations and internal rules, including the supervision of the internal audit unit, and to propose to the Board of Directors, the external auditors of the Bank and subsidiaries and the risk rating agencies, the following to the Audit Committee Our committees report directly to the board of Directors Board of Directors' committees
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26 32.3% 19.3% Others Free Float 2.62 Bn Market Cap. (March 12, 2025) Stock Performance (base 100 = 31.12.23) Shareholders & Stock market Source: Bloomberg Corporate Governance | Shareholders & Stock market Sell-side rating Buy: 6 Hold: 2 Sell: 0 216,340,749 (# total shares) Itaú Unibanco1 67 .42% Others 32.58% Shareholders | % T otal share capital as of February 28, 2025 70.5 mn (# shares) Sec. Brokerage 16.77%7.36% Foreign Inst. Investors Local Inst. Investors 7.24% Others 1.22% US$ 1 Includes 26,759,736 shares owned by ITB Holding Brasil Participações Ltda. that are under custody. IPSA ITAUCL
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Economic Context I n s t i t u t i o n a l P r e s e n t a t i o n
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28 0,5 4,0 11,3 8,3 5,00 5,0 1,8 3,0 12,0 13,0 9,50 8,0 2020 2021 2022 2023 2024 (e) 2025 (e) Chile Colombia GDP Growth – % 3,0 7 ,2 12,8 3,9 4,5 4, 1 1,62 5,62 13, 1 9,30 5,2 4,5 2020 2021 2022 2023 2024 (e) 2025 (e) Chile Colombia Interest Rates (MPR EOP) – % Inflation (CPI) – % Source: Central Bank of Chile, Central Bank of Colombia and Itaú’s projections.(updated as of February 2025). -6,1 11,3 2,1 0,2 2,5 2,3 -7,2 10,8 7,3 0,6 1,7 2,3 2020 2021 2022 2023 2024 (e) 2025 (e) Chile Colombia Economic Context | Macroeconomic outlook Macroeconomic outlook
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29 9. 1% 7 .6% 6.3% 5.7% 5.3% 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1.6% 0.8% 1.3% 0.9% 1.3% 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 6.7% 5.3% mar-22 jun-22 sep-22 dec-22 mar-23 jun-23 sep-23 dec-23 mar-24 jun-24 sep-24 dec-24 UF 1 – ∆ value Quarterly (%) 1 UF = Unidad de Fomento. is an official unit of account in Chile that is constantly adjusted for inflation and widely used in Chile for pricing several loans and contracts. 2 Excluding Itaú operations in Colombia and Bci in Florida. Growth in time deposits excludes “other time liabilities”. Exchange Rate Quarterly (%) Average Monetary Policy Interest Rate (MPR) Quarterly (%) Banking Industry Liabilities2 (12-month growth) Time deposits Demand deposits 4. 1% mar-22 jun-22 sep-22 dec-22 mar-23 jun-23 sep-23 dec-23 mar-24 jun-24 sep-24 dec-24 877 981 943 899 997 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 Banking Industry Loans 2 (12-month growth) 4Q24 | Macroeconomic Environment - Chile Economic Context | Macroeconomic Environment
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30 1.2% 2.7% 1.3% 0.4% 0.6% 3,855 3,853 4,154 4,177 4,404 The disinflation process advanced; Central bank made a smaller cut (25bp) in December; the labor market has been resilient; fiscal accounts will remain stressed. Inflation (CPI) Quarterly change (%) Exchange Rate COP$ / US$ Monetary Policy Interest Rate (MPR) – Average Quarterly change (%) 13.2% 12.7% 11.9% 10.9% 9.8% Dec’23 Mar’24 Jun’24 Sep’24 Dec’24 Dec’23 Mar’24 Jun’24 Sep’24 Dec’24 Dec’23 Mar’24 Jun’24 Sep’24 Dec’24 4Q24 | Macroeconomic Environment - Colombia Economic Context | Colombia
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Financial highlights I n s t i t u t i o n a l P r e s e n t a t i o n
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32 The financial information included in this Management Discussion & Analysis presentation is based on our managerial model which is based on our managerial model that we adjust for non-recurring events and we apply managerial criteria to disclose our income statements. Starting in the first quarter of 2019, we have been disclosing our income statement in the same manner as we do internally, incorporating additional P&L reclassifications, fully converging to the format presented by Itaú Unibanco. This managerial financial model reflects how we measure, analyze and discuss financial results by segregating: (i) commercial performance; (ii) financial risk management; (iii) credit risk management; and (iv) costs efficiency. We believe this form of communicating our results will give you a clearer and better view of how we fare under these different perspectives. Please refer to pages 14 to 18 of our Management Discussion & Analysis Report (“MD&A Report”) for further details, available at ir.itau.cl. Financial information
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4Q24 About the quarter I n s t i t u t i o n a l P r e s e n t a t i o n
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34 1 In constant currency. 4Q24 | Results Highlights 4Q24 About the quarter | Results Highlights 4Q’24 4Q’24 10.6 % 11.8% ▼49 bp ▼325 bp Ch$90.8 Bn ▼13.4 %Ch$82.3 Bn 4Q′24 vs. 4Q′23 change Recurring Net Income Recurring Return on Tangible Equity (RoTE) Credit portfolio Ch$ 23.3 trillion + 2. 1% Ch$ 4.5 trillion - 3.4% 1 CET1 fully loaded 10.6%52.8% Efficiency Ratio + 1.3 pp +25 bp Consolidated Chile Consolidated Chile Non-interest expenses 1 Ch$ 335.3 billion - 5.5% Ch$ 204.6 billion + 1.2% Ch$ 77 .4billion - 27 .6% Ch$ 263.4 billion - 2.7% Ch$ 150.9 billion -0. 1% Ch$ 68.0 billion +18.0% Cost of credit Commissions and fees2 Financial margin with clients Non-interest expenses 1 Ch$ 56.5 billion +19.4% Ch$ 47 .4 billion +22.1% ▲4.0 % Ch$384.6 Bn Ch$374.3 Bn 2024 11.4 % 14. 1% ▼ 8.9 % ▼0. 1% ▼1.4 pp ▼ 2.3 pp 2024
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35 3.6% 3.3% 3.4% 3.5% 3.6% 9. 1% 7 .6% 6.3% 5.7% 5.3% 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 Financial margin with Clients Annualized average rate In Ch$ billion Financial margin with Clients Average MPR Ch$ billion 4Q24 | Financial Margin with Clients 4Q24 About the quarter | Financial Margin with Clients 2Q'24 Portfolio mix Volume Spreads Portfolio and spread of liabilities Commercial spreads on derivatives and Fx with clients Capital financial and others 3Q'243Q’24 4Q’24 261.3 (0. 1) 0.8 1.7 (2.7) (0.6) 3.0 263.4 270.7 255.7 259.2 261.3 263.4 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 -2.7% +0.8%
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36 Quarterly evolution In Ch$ billion UF 1 net exposure2 UF – Unidad de Fomento1 Financial margin with the market 1-year moving average 4Q24 | Financial Margin with the Market 4Q24 About the quarter | Financial Margin with the Market 21.4 48.3 24.8 1.5 -0. 1 20.8 27 .8 26.7 24.0 18.6 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 0.9 0.6 1. 1 1.4 -0.3 dec-23 mar-24 jun-24 sep-24 dec-24 1.6% 0.8% 1.3% 0.9% 1.3% 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 In Ch$ trillion (∆ value) 1 UF (Unidad de Fomento) is an official unit of account in Chile that is constantly adjusted for inflation and widely used in Chile for pricing several loans and contracts. 2 This metric reflects the net flow of assets, liabilities, and derivatives contracted in inflation at the end of each quarter.
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37 Asset Management In Ch$ billion Commissions and fees1 Financial Advisory In Ch$ billion Diversifying our income base, maintaining a steady growth in commissions and fees… Total Fees Total Fees Total fees / (Financial Margin with Clients + Commissions and Fees) In Ch$ million 4Q24 | Commissions and fees 4Q24 About the quarter | Commissions and fees Increasing the share of income from key services associated to our principality 12.6% 13.2% 14.2% 14.5% 15.3% 38,853 38,870 42,989 44,192 47 ,437 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 In Ch$ billion 4Q24 3Q24 4Q23 Insurance Brokerage 8.4 6.8 24.7% 9.7 -13.0% Credit Operations and Guarantees Provided 10.0 9.9 1. 1% 9.4 6.7% Current Account Services and Overdraft Fees 3.8 4.2 -10.4% 5.7 -33.4% Asset Management 6.8 6.2 9.6% 4.2 59.9% Financial Advisory and others 18.4 17 . 1 7 .7% 9.8 87 .7% Total Commissions and Fees 47 .4 44.2 7 .3% 38.9 22. 1% 4.2 6.8 4Q'23 4Q'24 59.9% 9.8 18.4 4Q'23 4Q'24 87.7%
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38 156% 153% 147% 142% 153% 120% 130% 140% 150% 160% 170% 180% dec-23 mar-24 jun-24 sep-24 dec-24 < Coverage ratio1 Cost of credit In Ch$ billion 1 Includes additional provisions. 4Q24 | Cost of Credit 4Q24 About the quarter | Cost of Credit 83.0 80.2 78.4 79.8 68.0 1.5% 1.4% 1.4% 1.4% 1.2% 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 Cost of Credit Risk (considering additional provisions) Rate1 (considering additional provisions) NPL 90 Coverage1 (considering additional provisions) QoQ improvement in commercial and consumer NPLs… 2.1% 2.2% 2.3% 2.2% 2.0% dec-23 mar-24 jun-24 sep-24 dec-24 NPL Total Provisions1/Loans (considering additional provisions) 3.3% 3.4% 3.4% 3.1% 3. 1% Recovery In Ch$ billion 20.8% 18.6% 18.4% 12.6% 21.2% 16,620 14,400 18,655 14,305 19,327 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 Recovery/write-offs Recoveries … with a significant amount of recoveries in the quarter, growing 16,3% in the 4Q24 vs the 4Q23.
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39 4Q24 | Non-interest expenses 4Q24 About the quarter | Non-interest expenses Controlled non-interest expenses growth In Ch$ billion 4Q24 3Q24 4Q23 Personnel 65.2 62.0 5.3% 65. 1 0.2% Administrative 68.9 57 .7 19.3% 71.2 -3.3% Total Personnel and Administrative 134. 1 119.7 12.0% 136.3 -1.6% Depreciation, Amortization and Impairment 16.8 14.5 15.9% 14.5 16.0% Non-Interest Expenses 150.9 134.2 12.4% 150.8 0. 1% Depreciation, Amortization and Impairment Administrative cost Personnel 216,253 246,500 249,490 247 ,424 177 ,003 235, 114 236, 117 239,569 82,620 39,883 50,285 59,929 2021 2022 2023 2024 Non-Interest Expenses In Ch$ million
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40 We have maintained a solid capital position, with a margin with respect to regulatory minimums In addition, we have issued a perpetual bond, for US$ 200 million, improving our capital base in +65 bp Our liquidity ratios are significantly above regulatory limits and well positioned among peers For the second consecutive year, we did not receive an additional capital charge for Pillar 2 4Q24 About the quarter | Capital 221.8% 214.0% 189.2% 191.0% 143.3% Itaú Chile Peer A Itaú Chile Consolidated Peer B Peer C CET1 Fully loaded Net Stable Funding Ratio (NSFR)Liquidity Coverage Ratio (LCR) Peer group includes the 4 largest private banks in Chile. 4Q23 1Q24 2Q24 3Q24 4Q24 Peers +39 bp -28 bp +17 bp +20 bp +15 bp+79 bp -33 bp +30 bp +53 bp -18 bp 10.4% 11.2% 10.1% 10.9% 10.3% 11.2% 10.5% 11.7% 10.6% 11.5% Δ CET1 (QoQ) 120.0% 107 .6% 109.3% 102.8% 106.0% Peer A Itaú Chile Itaú Chile Consolidated Peer C Peer B Information on peers and Itaú Chile as of Dec′24 4Q24 | Capital
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41 4Q24 | Colombia 4Q24 About the quarter | Colombia 1 Annualized Results. I 2 For the last 12-months I 3 According to the availability of information from the Financial Superintendency of Colombia (SFC) Peer Group is defined by 3 private banks that have a similar business focus and size as Itaú Colombia. All data compared withthe Peer Group comes from local view as reported by the SFC. I 4 Peer Group information to 2024 Nov 2024. All data in this slide was calculated in local currency for the purposes of comparability with the local banking industry andpeers in Colombia. Improving cost of credit even in a low economic activity scenario Cost of Credit2 RoE improved 2.6x vs. 2023, due to our focus on the comprehensive relationship with our clients 1.7% 1.6% 1.5% 1.4% 1.3% 2.5% 2.7% 2.8% 3.0% 3. 1%3.1% 3.2% 3.1% 3.1% 2.9% dec-23 mar-24 jun-24 sep-24 dec-24 RoE1 Banking industryItaú Peer Group 0.9% 1.5% 1.6% 2.2% 2.4%2.3% -2.2% -1.0% -0.1% -0.3% 7.8% 8.6% 7.6% 8.0% 7 .8% dec-23 mar-24 jun-24 sept-24 dec-24 Banking industryItaú Peer Group 12.0% 9.4% 11.6% 0.0% 0.7% 0.3% 3.7% 2.8% 2.5% Itaú Colombia dic-24 Peer Group sep-24 Banking Industry sep-24 LCR - NSFR3 Liquidity Coverage Ratio (LCR)4 Net Stable Funding (NSFR)4 Consolidated Capital Adequacy Ratios3 CET1 AT1 T2 15.7% 13.0% 14.5% 117% 120% 114% 114%116% 115% dec-23 dec-24 382% 269%179% 167%194% 184% dec-23 dec-24 Banking industryItaú Peer Group Robust capital and liquidity ratios in comparison to Peers and the System
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42 Guidance 2025 1 Net provision for credit & counterparty risks divided by credit portfolio. Expected Guidance 2025 Commissions Between 5% – 10% Cost of Credit Risk1 Loan Growth Mid single digit Financial Margin with Clients Average rate Stable as interest rates decline Non-interest expenses Between 1.0% - 1.3% RoTE Between 13% - 15% Below inflation
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Additional Information I n s t i t u t i o n a l P r e s e n t a t i o n
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44 Moody's S&P Rating Scale Rating Scale LT ST LT STFinancial Capacity Extremely strong Aaa P-1 AAA A-1+ Very strong Aa1 AA+ Aa2 AA Aa3 AA- Strong A1 A+ A-1 A2 A A3 P-2 A- A-2 Adequate Baa1 BBB+ Baa2 P-3 BBB Baa3 BBB- Current international ratings ESG Indices A-2 A-3 Additional Information | Current international ratings ESG Risk Rating Last Full Update: October 2024 28.2 Medium Risk risk Rank Percentile Industry Banks 638 / 1026 63rd Subindustry Regional Banks 320/559 58th ESG Ratings CCC B BB BBB A AA AAA Rating action date: August 28, 2024 Last report update: November 06, 2024 BBB ESG Ratings S&P Global ESG Score 70/100 Last Updated: November 07, 2024 Environmental CSA Score 62 | ESG Score 62 | Industry Average 31 Social CSA Score 79 | ESG Score 79 | Industry Average 37 Governance & Economic CSA Score 79 | ESG Score 79 | Industry Average 37 Score breakdown Industry ESG Score Average Data availability: Very High Industry CSA Score Average 37/100 ESG Score Current Index Membership • DJBIC Mila Pacific Alliance • DJBIC Chile 1 1 On February 10, 2025., the family of Dow Jones Sustainability Indices (DJSI) were renamed to “Dow Jones Best-in-Class Indices”.
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45 All other Assets: Ch$ 42,035 Ch$ 35,390 Ch $6,645 Average tangible equity breakdown 4Q’24 AVERAGE BALANCE (CH$ TN) Managerial Tang. Equity Recurring Results Recurring RoTE Ch$ 3,430 Ch$ 2,781 Ch$ 649 Ch$ 91 Ch$ 82 Ch$ 9 ÷ ÷ 10.6% 11.8% 5.3% = ÷ = = All other Liabilities: Ch$ 38,602 Ch$ 32,606 Ch$ 5,996 Minority Interest ex GW and PPA Intangibles: Ch$ 3 Assets: 42,539 Liabilities: 38,604 Minority Interest: 3 Shareholders’ Equity: 3,931 Goodwill: Ch$ 493 Ch$ 493 Ch$ - Intangibles from PPA: Ch$ 11 Ch$ 11 Ch$ - Deferred taxes associated with intangibles from PPA: Ch$ 3 Ch$ 3 Ch$ - Associated w/ PPA Intangibles: Ch$ - GW and PPA Intangibles: Ch$ 500 Ch$ 500 Ch$ - Additional Information | Average tangible equity breakdown Managerial Tangible Equity: Ch$ 3,430 Ch$ 2,781 Ch$ 649
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46 Macroeconomic outlook Additional Information | Macroeconomic outlook Source: Central Bank of Chile, Central Bank of Colombia and Itaú’s projections.(updated as of February 2025). 2016 2017 2018 2019 2020 2021 2022 2023 2024F 2025F 2026F GDP Growth (%) - World Economy World 3.3 3.8 3.6 2.8 -2.8 6.3 3.5 3.2 3.2 3.2 3.2 USA 1.6 2.3 3.0 2.6 -2.2 6.1 2.5 2.9 2.8 2.5 2.5 Euro Zone 1.9 2.8 1.8 1.6 -6.2 5.9 3.5 0.4 0.7 0.8 1.0 China 6.9 7.0 6.7 6.0 2.3 8.4 3.0 5.2 5.0 4.0 4.0 GDP Growth (%) - Latam Brazil -3.3 1.3 1.8 1.2 -3.3 4.8 3.0 3.2 3.6 2.2 1.5 Chile 1.8 1.4 4.0 0.7 -6.1 11.3 2.1 0.2 2.5 2.3 2.0 Colombia 2.1 1.4 2.6 3.2 -7.2 10.8 7.3 0.6 1.7 2.3 2.6 Mexico 2.9 2.1 2.0 -0.4 -8.4 6.0 3.7 3.2 1.5 0.9 1.4 Peru 4.0 2.5 4.0 2.2 -10.9 13.4 2.7 -0.6 3.0 2.8 3.0 Inflation (eop, %) Brazil (IPCA) 6.3 2.9 3.7 4.3 4.5 10.1 5.8 4.6 4.8 5.8 4.5 Chile 2.7 2.3 2.6 3.0 3.0 7.2 12.8 3.9 4.5 4.1 3.0 Colombia 5.8 4.1 3.2 3.8 1.6 5.6 13.1 9.3 5.2 4.5 3.3 Mexico 3.4 6.8 4.8 2.8 3.2 7.4 7.8 4.7 4.2 3.9 3.6 Peru 3.2 1.4 2.2 1.9 2.0 6.4 8.5 3.2 2.0 2.0 2.0 Monetary Policy Rate (eop, %) Brazil 13.75 7.00 6.50 4.50 2.00 9.3 13.8 11.8 12.25 15.75 13.75 Chile 3.50 2.50 2.75 1.75 0.50 4.0 11.3 8.3 5.0 5.0 4.5 Colombia 7.50 4.75 4.25 4.25 1.75 3.0 12.0 13.0 9.5 8.0 6.5 Mexico 5.75 7.25 8.25 7.25 4.25 5.5 10.50 11.25 10.00 8.50 8.00 Peru 4.25 3.25 2.75 2.25 0.25 2.5 7.50 6.75 5.00 4.75 4.75 Unemployment Rate (avg, %) Brazil 11.5 12.7 12.4 12 13.8 13.2 9.3 8.0 6.8 6.6 7.1 Chile 6.5 7.0 7.4 7.2 10.8 8.9 7.9 8.7 8.5 8.5 8.2 Colombia 9.5 9.7 10.0 10.9 16.7 13.8 11.2 10.2 10.2 10.2 10.2 Mexico 3.9 3.4 3.3 3.5 4.4 4.1 3.3 2.8 2.7 2.8 2.9 Peru 6.7 6.9 6.6 6.6 13.6 10.9 7.7 6.8 6.6 7.0 7.0