Bank Of Chile 6-K, filed Oct 29, 2021

Bank Of Chile (BCH)

6-K 2021-10-29 For: 2021-10-28

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Added on April 04, 2026

About this 6-K

Bank Of Chile filed this 6-K on October 29, 2021.

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	Banco de Chile

	By:	/S/ Eduardo Ebensperger O.
		Eduardo Ebensperger O.
		CEO

I.	Interim Consolidated Statements of Financial Position
II.	Interim Consolidated Statements of Income
III.	Interim Consolidated Statements of Other Comprehensive Income
IV.	Interim Consolidated Statements of Changes in Equity
V.	Interim Consolidated Statements of Cash Flows
VI.	Notes to the Interim Consolidated Financial Statements

MCh$	=	Millions of Chilean pesos
ThUS$	=	Thousands of U.S. dollars
UF or CLF	=	Unidad de Fomento
		(The UF is an inflation-indexed, Chilean peso denominated monetary unit set daily in advance on the basis of the previous month’s inflation rate).
Ch$ or CLP	=	Chilean pesos
US$ or USD	=	U.S. dollar
JPY	=	Japanese yen
EUR	=	Euro
HKD	=	Hong Kong dollar
CHF	=	Swiss Franc
PEN	=	Peruvian sol
AUD	=	Australian dollar
NOK	=	Norwegian krone

IFRS	=	International Financial Reporting Standards
IAS	=	International Accounting Standards
RAN	=	Actualized Standards Compilation of the Chilean Commission for Financial Market (“CMF”)
IFRIC	=	International Financial Reporting Interpretations Committee
SIC	=	Standards Interpretation Committee

		Page

Interim Consolidated Statement of Financial Position		1
Interim Consolidated Statements of Income		2
Interim Consolidated Statements of Other Comprehensive Income		3
Interim Consolidated Statement of Changes in Equity		4
Consolidated Statements of Cash Flows		5
1. Company information:		6
2. Legal regulations, basis of preparation and Other information:		7
3. New Accounting Pronouncements:		10
4. Changes in Accounting Policies and Disclosures:		21
5. Relevant Events:		22
6. Business Segments:		25
7. Cash and Cash Equivalents:		28
8. Financial Assets Held-for-trading:		29
9. Investments under resale agreements and obligations under repurchase agreements:		30
10. Derivative Instruments and Accounting Hedges:		32
11. Loans and Advances to Banks, net:		38
12. Loans to Customers, net:		39
13. Investment Securities:		45
14. Investments in Other Companies:		47
15. Intangible Assets:		49
16. Fixed assets, leased assets and lease liabilities:		51
17. Current Taxes and Deferred Taxes:		56
18. Other Assets:		60
19. Current Accounts and Other Demand Deposits:		61
20. Savings Accounts and Time Deposits:		61
21. Borrowings from Financial Institutions:		62
22. Debt Issued:		63
23. Other Financial Obligations:		66
24. Provisions:		66
25. Other Liabilities:		70
26. Contingencies and Commitments:		71
27. Equity:		77
28. Interest Revenue and Expenses:		80
29. Income and Expenses from Fees and Commissions:		82
30. Net Financial Operating Income:		83
31. Foreign Exchange Transactions, Net:		83
32. Provisions for Loan Losses:		84
33. Personnel Expenses:		85
34. Administrative Expenses:		86
35. Depreciation, Amortization and Impairment:		87
36. Other Operating Income:		88
37. Other Operating Expenses:		89
38. Related Party Transactions:		90
39. Fair Value of Financial Assets and Liabilities:		95
40. Maturity of Assets and Liabilities:		108
41. Subsequent Events:		110

		September			December
	Notes	2021			2020
		MCh$			MCh$
ASSETS
Cash and due from banks	7		3,099,335			2,560,216
Transactions in the course of collection	7		410,644			582,308
Financial assets held-for-trading	8		3,141,762			4,666,156
Investment under resale agreements	9		76,496			76,407
Derivative instruments	10		2,844,672			2,618,004
Loans and advances to banks	11		2,017,505			2,938,991
Loans to customers, net	12		32,404,479			30,190,058
Financial assets available-for-sale	13		3,440,313			1,060,523
Financial assets held-to-maturity	13		302,532			—
Investments in other companies	14		48,088			44,649
Intangible assets	15		68,401			60,701
Property and equipment	16		223,688			217,928
Leased assets	16		103,224			118,829
Current tax assets	17		671			22,949
Deferred tax assets	17		387,291			357,945
Other assets	18		649,322			579,467
TOTAL ASSETS			49,218,423			46,095,131

LIABILITIES
Current accounts and other demand deposits	19		17,607,258			15,167,229
Transactions in the course of payment	7		337,560			1,302,000
Obligations under repurchase agreements	9		111,438			288,917
Savings accounts and time deposits	20		8,972,204			8,899,541
Derivative instruments	10		2,644,144			2,841,756
Borrowings from financial institutions	21		4,814,758			3,669,753
Debt issued	22		8,758,172			8,593,595
Other financial obligations	23		259,116			191,713
Lease liabilities	16		99,013			115,017
Current tax liabilities	17		82,930			311
Deferred tax liabilities	17		—			—
Provisions	24		882,161			733,911
Other liabilities	25		608,030			565,120
TOTAL LIABILITIES			45,176,784			42,368,863

EQUITY	27
Attributable to Bank’s Owners:
Capital			2,418,833			2,418,833
Reserves			703,571			703,206
Other comprehensive income			(19,214	)		(51,250	)
Retained earnings:
Retained earnings from previous years			655,478			412,641
Income for the period			509,104			463,108
Less:
Provision for minimum dividends			(226,135	)		(220,271	)
Subtotal			4,041,637			3,726,267
Non-controlling interests			2			1
TOTAL EQUITY			4,041,639			3,726,268
TOTAL LIABILITIES AND EQUITY			49,218,423			46,095,131

				Reserves					Other comprehensive income									Retained earnings
	Notes	Paid-in Capital		Other reserves			Reserves from earnings		Unrealized gains (losses) on available-for-sale			Derivatives cash flow hedge			Income Tax			Retained earnings from previous period		Income (losses) for the period			Provision for minimum dividends			Attributable to equity holders of the parent			Non- controlling interest			Total equity
		MCh$		MCh$			MCh$		MCh$			MCh$						MCh$		MCh$			MCh$			MCh$			MCh$			MCh$

Balances as of December 31, 2019			2,418,833		31,780			671,492		3,827			(81,040	)		20,612			170,171		593,008			(300,461	)		3,528,222			1			3,528,223
Retention of profits			—		—			—		—			—			—			242,470		(242,470	)		—			—			—			—
Dividends distributions and paid	27		—		—			—		—			—			—			—		(350,538	)		300,461			(50,077	)		(1	)		(50,078	)
Other comprehensive income:
Defined benefit plans adjustment, net			—		(66	)		—		—			—			—			—		—			—			(66	)		—			(66	)
Derivatives cash flow hedge	27		—		—			—		—			(17,075	)		4,610			—		—			—			(12,465	)		—			(12,465	)
Valuation adjustment on available-for-sale instruments	27		—		—			—		(1,397	)		—			378			—		—			—			(1,019	)		—			(1,019	)
Income for the period 2020	27		—		—			—		—			—			—			—		336,823			—			336,823			1			336,824
Provision for minimum dividends			—		—			—		—			—			—			—		—			(169,951	)		(169,951	)		—			(169,951	)
Balances as of September 30, 2020			2,418,833		31,714			671,492		2,430			(98,115	)		25,600			412,641		336,823			(169,951	)		3,631,467			1			3,631,468
Other comprehensive income:
Derivatives cash flow hedge, net			—		—			—		—			27,433			(7,407	)		—		—			—			20,026			—			20,026
Valuation adjustment on available-for-sale instruments			—		—			—		(1,629	)		—			438			—		—			—			(1,191	)		—			(1,191	)
Income for the period 2020			—		—			—		—			—			—			—		126,285			—			126,285			—			126,285
Provision for minimum dividends			—		—			—		—			—			—			—		—			(50,320	)		(50,320	)		—			(50,320	)
Balances as of December 31, 2020’			2,418,833		31,714			671,492		801			(70,682	)		18,631			412,641		463,108			(220,271	)		3,726,267			1			3,726,268
Retention of profits	27		—		—			—		—			—			—			242,837		(242,837	)		—			—			—			—
Dividends distributions and paid	27		—		—			—		—			—			—			—		(220,271	)		220,271			—			—			—
Other comprehensive income:
Defined benefit plans adjustment, net			—		365			—		—			—			—			—		—			—			365			—			365
Derivatives cash flow hedge, net	27		—		—			—		—			198,321			(53,546	)		—		—			—			144,775			—			144,775
Valuation adjustment on available-for-sale instruments	27		—		—			—		(117,098	)		—			4,359			—		—			—			(112,739	)		—			(112,739	)
Income for the period 2021	27		—		—			—		—			—			—			—		509,104			—			509,104			1			509,105
Provision for minimum dividends	27		—		—			—		—			—			—			—		—			(226,135	)		(226,135	)		—			(226,135	)
Balances as of September 30, 2021			2,418,833		32,079			671,492		(116,297	)		127,639			(30,556	)		655,478		509,104			(226,135	)		4,041,637			2			4,041,639

		September			September
	Notes	2021			2020
		MCh$			MCh$
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income for the period			509,105			336,824
Charges (credits) to income that do not represent cash flows:
Depreciation and amortization	35		57,003			54,868
Impairment	35		3			882
Provision for loans and accounts receivable from customers and owed by banks	32		128,894			357,677
Provision of contingent loans	32		2,293			21,555
Additional provisions	32		140,000			27,000
Fair value adjustment of financial assets held-for-trading			7,563			(747	)
Changes in assets and liabilities by deferred taxes	17		(25,122	)		(11,982	)
(Gain) loss attributable to investments in companies with significant influence, net	14		3,237			778
(Gain) loss from sales of assets received in lieu of payment,net			(2,124	)		(6,218	)
(Gain) loss on sales of property and equipment, net	36		(208	)		(25	)
Charge-offs of assets received in lieu of payment	37		1,557			3,022
Other charges (credits) to income that do not represent cash flows			11,377			20,859
Net changes in exchange rate, interest and fees accrued on assets and liabilities			(182,966	)		78,422

Changes in assets and liabilities that affect operating cash flows:
(Increase) decrease in loans and advances to banks, net			921,309			(1,272,152	)
(Increase) decrease in loans to customers			(2,080,528	)		(1,597,574	)
(Increase) decrease in financial assets held-for-trading, net			85,822			497,684
(Increase) decrease in other assets and liabilities			(209,024	)		81,289
Increase (decrease) in current account and other demand deposits			2,436,895			3,195,442
Increase (decrease) in transactions from reverse repurchase agreements			(163,883	)		(34,896	)
Increase (decrease) in savings accounts and time deposits			78,611			(1,940,891	)
Sale of assets received in lieu of payment or adjudicated			6,827			16,323
Total cash flows from operating activities			1,726,641			(171,860	)

CASH FLOWS FROM INVESTING ACTIVITIES:
(Increase) decrease in financial assets available-for-sale, net			(2,482,319	)		82,901
(Increase) decrease in financial assets held-to-maturity			(299,324	)		—
Net changes in leased assets	16		(1,086	)		(559	)
Purchases of property and equipment	16		(27,870	)		(20,356	)
Sales of property and equipment			208			25
Acquisition of intangible assets	15		(20,759	)		(13,596	)
Acquisition of investments in companies	14		(7,847	)		—
Dividends received from investments in companies	14		1,486			1,387
Total cash flows from investing activities			(2,837,511	)		49,802

CASH FLOWS FROM FINANCING ACTIVITIES:
Redemption of letters of credit			(1,263	)		(1,801	)
Issuance of bonds	22		765,735			814,881
Redemption of bonds			(938,403	)		(1,084,548	)
Dividends paid	27		(220,271	)		(350,538	)
Increase (decrease) in borrowings from foreign financial institutions			(92,466	)		(801,465	)
Increase (decrease) in other financial obligations			67,602			(38,725	)
Increase (decrease) in other obligations with Central Bank of Chile			1,237,800			3,110,600
Payment of other long-term borrowings			(174	)		(16,885	)
Payments for lease agreements	16		(22,988	)		(21,542	)
Total cash flows from financing activities			795,572			1,609,977

TOTAL NET (NEGATIVE) POSITIVE CASH FLOWS FOR THE PERIOD			(315,298	)		1,487,919

Effect of exchange rate changes			226,682			54,340

Cash and cash equivalents at beginning of period			6,088,115			3,931,371

Cash and cash equivalents at end of period	7		5,999,499			5,473,630

				Interest Owned
				Direct				Indirect				Total
			Functional	September		December		September		December		September		December
RUT	Subsidiaries	Country	Currency	2021		2020		2021		2020		2021		2020
				%		%		%		%		%		%
96,767,630-6	Banchile Administradora General de Fondos S.A.	Chile	Ch$		99.98		99.98		0.02		0.02		100.00		100.00
96,543,250-7	Banchile Asesoría Financiera S.A.	Chile	Ch$		99.96		99.96		—		—		99.96		99.96
77,191,070-K	Banchile Corredores de Seguros Ltda.	Chile	Ch$		99.83		99.83		0.17		0.17		100.00		100.00
96,571,220-8	Banchile Corredores de Bolsa S.A.	Chile	Ch$		99.70		99.70		0.30		0.30		100.00		100.00
96,932,010-K	Banchile Securitizadora S.A. (*)	Chile	Ch$		99.01		99.01		0.99		0.99		100.00		100.00
96,645,790-2	Socofin S.A.	Chile	Ch$		99.00		99.00		1.00		1.00		100.00		100.00

	Entity
	-	Banchile Administradora General de Fondos S.A.
	-	Banchile Asesoría Financiera S.A.
	-	Banchile Corredores de Seguros Ltda.
	-	Banchile Corredores de Bolsa S.A.
	-	Banchile Securitizadora S.A. (*)
	-	Socofin S.A.

	Retail						Wholesale						Treasury						Subsidiaries						Subtotal						Consolidation adjustment						Total
	September			September			September			September			September			September			September			September			September			September			September			September			September			September
	2021			2020			2021			2020			2021			2020			2021			2020			2021			2020			2021			2020			2021			2020
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Net interest income		736,765			700,618			303,703			271,425			4,044			(8,569	)		(153	)		(1,845	)		1,044,359			961,629			159			1,109			1,044,518			962,738
Net commissions income (loss)		189,438			211,347			44,905			40,970			(1,285	)		(1,618	)		119,079			108,033			352,137			358,732			(10,932	)		(12,662	)		341,205			346,070
Financial and exchange operations results		11,761			5,886			49,875			35,209			30,948			59,349			22,017			25,499			114,601			125,943			(38	)		(1,002	)		114,563			124,941
Other operating income		18,047			16,328			9,627			10,630			—			—			1,860			1,934			29,534			28,892			(3,814	)		(3,213	)		25,720			25,679
Total operating revenue		956,011			934,179			408,110			358,234			33,707			49,162			142,803			133,621			1,540,631			1,475,196			(14,625	)		(15,768	)		1,526,006			1,459,428
Provision for loan losses (*)		(152,304	)		(287,976	)		(71,811	)		(89,502	)		—			—			334			(33	)		(223,781	)		(377,511	)		—			—			(223,781	)		(377,511	)
Personnel expenses		(214,611	)		(204,395	)		(63,188	)		(59,585	)		(1,666	)		(1,450	)		(56,477	)		(54,075	)		(335,942	)		(319,505	)		13			12			(335,929	)		(319,493	)
Administrative expenses		(186,285	)		(195,814	)		(44,425	)		(46,393	)		(960	)		(1,118	)		(24,135	)		(22,912	)		(255,805	)		(266,237	)		14,612			15,756			(241,193	)		(250,481	)
Depreciation and amortization		(46,506	)		(44,610	)		(5,977	)		(5,491	)		(268	)		(225	)		(4,252	)		(4,542	)		(57,003	)		(54,868	)		—			—			(57,003	)		(54,868	)
Other operating expenses		(15,580	)		(14,934	)		(10,690	)		(10,575	)		(12	)		(13	)		101			(235	)		(26,181	)		(25,757	)		—			—			(26,181	)		(25,757	)
Total operating expenses		(462,982	)		(459,753	)		(124,280	)		(122,044	)		(2,906	)		(2,806	)		(84,763	)		(81,764	)		(674,931	)		(666,367	)		14,625			15,768			(660,306	)		(650,599	)
Income attributable to associates		(4,441	)		(1,526	)		1,129			668			48			50			416			416			(2,848	)		(392	)		—			—			(2,848	)		(392	)
Income before income taxes		336,284			184,924			213,148			147,356			30,849			46,406			58,790			52,240			639,071			430,926			—			—			639,071			430,926
Income taxes																																						(129,966	)		(94,102	)
Income after income taxes																																						509,105			336,824

	Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 months				Over 1 year and up to 3 years				Over 3 years and up to 5 years					Over 5 years				Total
	September		December		September		December		September		December		September		December			September		December		September		December		September		December
	2021		2020		2021		2020		2021		2020		2021		2020			2021		2020		2021		2020		2021		2020
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Instruments issued by the Chilean Governments and Central Bank of Chile
Central Bank bonds		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Central Bank promissory notes		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Other instruments issued by the Chilean Government and Central Bank of Chile		—		10,006		—		—		—		—		—		—			—		—		—		—		—		10,006
Subtotal		—		10,006		—		—		—		—		—		—			—		—		—		—		—		10,006
Other Instruments issued in Chile
Deposit promissory notes from domestic banks		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Mortgage bonds from domestic banks		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Bonds from domestic banks		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Deposits in domestic banks		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Bonds from other Chilean companies		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Other instruments issued in Chile		37,487		29,089		24,125		20,591		14,884		16,721		—		—			—		—		—		—		76,496		66,401
Subtotal		37,487		29,089		24,125		20,591		14,884		16,721		—		—			—		—		—		—		76,496		66,401
Instruments issued by foreign institutions
Instruments from foreign governments or Central Bank		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Other instruments		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Subtotal		—		—		—		—		—				—		—					—		—		—		—		—
Mutual fund investments
Funds managed by related companies		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Funds managed by third-party		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Subtotal		—		—		—		—		—		—		—		—			—		—		—		—		—		—
Total		37,487		39,095		24,125		20,591		14,884		16,721		—		—			—		—		—		—		76,496		76,407

	Notional amount of contract with final expiration date in														Fair Value
	Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Total		Assets		Liabilities
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
As of September 30, 2021
Derivatives held for hedging purposes
Interest rate swap and cross currency swap		—		—		3,472		—		—		—		3,472		—		1,162
Interest rate swap		—		—		—		—		—		2,954		2,954		—		581
Total derivatives held for hedging purposes		—		—		3,472		—		—		2,954		6,426		—		1,743

Derivatives held as cash flow hedges
Currency forward		—		—		3,009		—		—		—		3,009		—		48
Interest rate swap and cross currency swap		114,109		55,976		34,665		143,281		221,298		758,526		1,327,855		268,786		905
Total derivatives held as cash flow hedges		114,109		55,976		37,674		143,281		221,298		758,526		1,330,864		268,786		953

Trading derivatives
Currency forward		7,639,947		4,158,290		8,387,193		1,468,763		82,871		17,855		21,754,919		648,290		492,694
Interest rate swap		1,325,175		2,933,120		11,530,569		11,226,915		6,878,534		10,356,374		44,250,687		754,050		756,112
Interest rate swap and cross currency swap		395,082		999,660		3,448,891		6,266,384		4,078,090		5,567,204		20,755,311		1,170,518		1,390,310
Call currency options		6,362		22,479		40,741		5,091		—		—		74,673		2,979		2,003
Put currency options		5,639		32,725		35,336		3,143		—		—		76,843		49		329
Total trading derivatives		9,372,205		8,146,274		23,442,730		18,970,296		11,039,495		15,941,433		86,912,433		2,575,886		2,641,448

Total		9,486,314		8,202,250		23,483,876		19,113,577		11,260,793		16,702,913		88,249,723		2,844,672		2,644,144

	Notional amount of contract with final expiration date in														Fair Value
	Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 12 months		Over 1 year and up to 3 years		Over 3 year and up to 5 years		Over 5 years		Total		Assets		Liabilities
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
As of December 31, 2020
Derivatives held for hedging purposes
Interest rate swap and cross currency swap		—		—		—		5,031		—		—		5,031		—		1,646
Interest rate swap		—		—		—		—		—		29,508		29,508		—		4,873
Total derivatives held for hedging purposes		—		—		—		5,031		—		29,508		34,539		—		6,519

Derivatives held as cash flow hedges
Interest rate swap and cross currency swap		—		—		164,330		171,925		213,811		667,391		1,217,457		51,062		65,172
Total derivatives held as cash flow hedges		—		—		164,330		171,925		213,811		667,391		1,217,457		51,062		65,172

Trading derivatives
Currency forward		7,320,775		5,754,021		7,753,967		823,355		60,193		26,340		21,738,651		551,964		637,186
Interest rate swap		1,516,969		2,797,327		10,330,399		12,705,904		6,658,095		10,180,750		44,189,444		1,167,416		1,189,828
Interest rate swap and cross currency swap		439,244		809,124		3,459,603		5,892,574		3,442,030		4,850,644		18,893,219		845,831		940,646
Call currency options		10,581		25,382		34,294		1,657		—		—		71,914		269		306
Put currency options		9,605		20,470		26,893		427		—		—		57,395		1,462		2,099
Total trading derivatives		9,297,174		9,406,324		21,605,156		19,423,917		10,160,318		15,057,734		84,950,623		2,566,942		2,770,065

Total		9,297,174		9,406,324		21,769,486		19,600,873		10,374,129		15,754,633		86,202,619		2,618,004		2,841,756

	Up to 1 month						Over 1 month and up to 3 months						Over 3 months and up to 12 months						Over 1 year and up to 3 years						Over 3 years and up to 5 years						Over 5 years						Total
	September			December			September			December			September			December			September			December			September			December			September			December			September			December
	2021			2020			2021			2020			2021			2020			2021			2020			2021			2020			2021			2020			2021			2020
	MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$

Hedge element
Outflows:
Corporate Bond EUR		—			—			(734	)		—			(850	)		(1,473	)		(3,166	)		(2,946	)		(47,331	)		(44,037	)		(54,900	)		(51,871	)		(106,981	)		(100,327	)
Corporate Bond HKD		(6,359	)		—			—			—			(8,812	)		(13,352	)		(100,908	)		(90,988	)		(83,651	)		(78,369	)		(305,247	)		(269,894	)		(504,977	)		(452,603	)
Corporate Bond PEN		—			—			—			(775	)		(1,545	)		(775	)		(3,089	)		(3,098	)		(2,317	)		(3,098	)		(40,587	)		(41,484	)		(47,538	)		(49,230	)
Corporate Bond CHF		—			—			(894	)		—			—			(829	)		(101,760	)		(94,332	)		(130,724	)		(121,182	)		—			—			(233,378	)		(216,343	)
Corporate Bond USD		(864	)		—			—			—			(864	)		(1,515	)		(3,454	)		(3,030	)		(3,454	)		(3,030	)		(44,897	)		(40,140	)		(53,533	)		(47,715	)
Obligation USD		(121,973	)		(202	)		(56,899	)		(76	)		—			(157,455	)		—			—			—			—			—			—			(178,872	)		(157,733	)
Corporate Bond JPY		—			—			(1,118	)		—			(37,797	)		(2,115	)		(4,181	)		(38,110	)		(4,181	)		(3,472	)		(239,110	)		(191,351	)		(286,387	)		(235,048	)
Corporate Bond AUD		—			—			(1,673	)		(970	)		(4,021	)		(3,928	)		(10,908	)		(9,796	)		(9,218	)		(9,799	)		(255,188	)		(206,991	)		(281,008	)		(231,484	)
Corporate Bond NOK		—			—			(2,537	)		—			—			(2,275	)		(5,073	)		(4,550	)		(5,073	)		(4,550	)		(79,723	)		(71,491	)		(92,406	)		(82,866	)

Hedge instrument
Inflows:
Cross Currency Swap EUR		—			—			734			—			850			1,473			3,166			2,946			47,331			44,037			54,900			51,871			106,981			100,327
Cross Currency Swap HKD		6,359			—			—			—			8,812			13,352			100,908			90,988			83,651			78,369			305,247			269,894			504,977			452,603
Cross Currency Swap PEN		—			—			—			775			1,545			775			3,089			3,098			2,317			3,098			40,587			41,484			47,538			49,230
Cross Currency Swap CHF		—			—			894			—			—			829			101,760			94,332			130,724			121,182			—			—			233,378			216,343
Cross Currency Swap USD		864			—			—			—			864			1,515			3,454			3,030			3,454			3,030			44,897			40,140			53,533			47,715
Cross Currency Swap USD		121,973			202			56,899			76			—			157,455			—			—			—			—			—			—			178,872			157,733
Cross Currency Swap JPY		—			—			1,118			—			37,797			2,115			4,181			38,110			4,181			3,472			239,110			191,351			286,387			235,048
Cross Currency Swap AUD		—			—			1,673			970			4,021			3,928			10,908			9,796			9,218			9,799			255,188			206,991			281,008			231,484
Cross Currency Swap NOK		—			—			2,537			—			—			2,275			5,073			4,550			5,073			4,550			79,723			71,491			92,406			82,866

Net cash flows		—			—			—			—			—			—			—			—			—			—			—			—			—			—

	Bank’s Location
Detail	Chile			Abroad			Total
	MCh$			MCh$			MCh$

Balance as of January 1, 2020		54			704			758
Provisions established		—			—			—
Provisions released		(54	)		(205	)		(259	)
Balance as of September 30, 2020		—			499			499
Provisions established		140			26			166
Provisions released		—			—			—
Balance as of December 31, 2020		140			525			665
Provisions established		—			—			—
Provisions released		(123	)		(24	)		(147	)
Balance as of September 30, 2021		17			501			518

	As of September 30, 2021
	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non- Complying Portfolio		Total		Individual Provisions			Group Provisions			Total			Net assets
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$
Commercial loans
Commercial loans		14,855,154		137,005		392,156		15,384,315		(188,184	)		(147,299	)		(335,483	)		15,048,832
Foreign trade loans		1,143,289		12,955		15,198		1,171,442		(39,751	)		(2,646	)		(42,397	)		1,129,045
Current account debtors		116,595		4,380		1,993		122,968		(2,114	)		(2,078	)		(4,192	)		118,776
Factoring transactions		512,636		2,233		527		515,396		(8,847	)		(783	)		(9,630	)		505,766
Student loans		55,507		—		2,505		58,012		—			(4,312	)		(4,312	)		53,700
Commercial lease transactions (1)		1,541,402		42,465		19,448		1,603,315		(5,438	)		(5,473	)		(10,911	)		1,592,404
Other loans and accounts receivable		87,903		531		14,575		103,009		(6,861	)		(3,892	)		(10,753	)		92,256
Subtotal		18,312,486		199,569		446,402		18,958,457		(251,195	)		(166,483	)		(417,678	)		18,540,779
Mortgage loans
Letters of credit		6,437		—		365		6,802		—			(8	)		(8	)		6,794
Endorsable mortgage loans		18,270		—		812		19,082		—			(24	)		(24	)		19,058
Other residential lending		9,648,492		—		271,381		9,919,873		—			(28,771	)		(28,771	)		9,891,102
Credit from ANAP		—		—		—		—		—			—			—			—
Residential lease transactions		—		—		—		—		—			—			—			—
Other loans and accounts receivable		142,267		—		9,493		151,760		—			(3,459	)		(3,459	)		148,301
Subtotal		9,815,466		—		282,051		10,097,517		—			(32,262	)		(32,262	)		10,065,255
Consumer loans
Consumer loans in installments		2,599,841		—		202,535		2,802,376		—			(181,504	)		(181,504	)		2,620,872
Current account debtors		149,709		—		3,696		153,405		—			(8,452	)		(8,452	)		144,953
Credit card debtors		1,048,547		—		19,064		1,067,611		—			(35,776	)		(35,776	)		1,031,835
Consumer lease transactions (1)		486		—		—		486		—			(5	)		(5	)		481
Other loans and accounts receivable		12		—		994		1,006		—			(702	)		(702	)		304
Subtotal		3,798,595		—		226,289		4,024,884		—			(226,439	)		(226,439	)		3,798,445
Total		31,926,547		199,569		954,742		33,080,858		(251,195	)		(425,184	)		(676,379	)		32,404,479

	As of December 31, 2020
	Assets before allowances								Allowances established
	Normal Portfolio		Substandard Portfolio		Non- Complying Portfolio		Total		Individual Provisions			Group Provisions			Total			Net assets
	MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$
Commercial loans
Commercial loans		13,818,088		136,072		438,535		14,392,695		(197,777	)		(139,718	)		(337,495	)		14,055,200
Foreign trade loans		941,825		7,347		17,791		966,963		(33,441	)		(2,374	)		(35,815	)		931,148
Current account debtors		111,888		3,617		4,973		120,478		(2,789	)		(6,762	)		(9,551	)		110,927
Factoring transactions		369,656		3,617		601		373,874		(8,512	)		(837	)		(9,349	)		364,525
Student loans		55,058		—		2,449		57,507		—			(4,201	)		(4,201	)		53,306
Commercial lease transactions (1)		1,513,776		44,968		33,348		1,592,092		(7,504	)		(6,169	)		(13,673	)		1,578,419
Other loans and accounts receivable		72,769		455		16,206		89,430		(6,892	)		(6,319	)		(13,211	)		76,219
Subtotal		16,883,060		196,076		513,903		17,593,039		(256,915	)		(166,380	)		(423,295	)		17,169,744
Mortgage loans
Letters of credit		8,646		—		692		9,338		—			(44	)		(44	)		9,294
Endorsable mortgage loans		22,885		—		1,220		24,105		—			(81	)		(81	)		24,024
Other residential lending		8,894,326		—		305,815		9,200,141		—			(32,427	)		(32,427	)		9,167,714
Credit from ANAP		2		—		—		2		—			—			—			2
Residential lease transactions		—		—		—		—		—			—			—			—
Other loans and accounts receivable		146,174		—		8,894		155,068		—			(1,212	)		(1,212	)		153,856
Subtotal		9,072,033		—		316,621		9,388,654		—			(33,764	)		(33,764	)		9,354,890
Consumer loans
Consumer loans in installments		2,418,658		—		299,469		2,718,127		—			(236,408	)		(236,408	)		2,481,719
Current account debtors		153,855		—		4,869		158,724		—			(10,186	)		(10,186	)		148,538
Credit card debtors		1,052,342		—		25,103		1,077,445		—			(42,789	)		(42,789	)		1,034,656
Consumer lease transactions (1)		302		—		—		302		—			(3	)		(3	)		299
Other loans and accounts receivable		10		—		667		677		—			(465	)		(465	)		212
Subtotal		3,625,167		—		330,108		3,955,275		—			(289,851	)		(289,851	)		3,665,424
Total		29,580,260		196,076		1,160,632		30,936,968		(256,915	)		(489,995	)		(746,910	)		30,190,058

	Assets before Allowances												Allowances established
	Normal Portfolio				Impaired Portfolio				Total				Individual Provisions						Group Provisions						Total						Net assets
	September		December		September		December		September		December		September			December			September			December			September			December			September		December
	2021		2020		2021		2020		2021		2020		2021			2020			2021			2020			2021			2020			2021		2020
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$			MCh$			MCh$			MCh$			MCh$			MCh$		MCh$
Commercial loans		18,474,766		17,039,307		483,691		553,732		18,958,457		17,593,039		(251,195	)		(256,915	)		(166,483	)		(166,380	)		(417,678	)		(423,295	)		18,540,779		17,169,744
Mortgage loans		9,815,466		9,072,033		282,051		316,621		10,097,517		9,388,654		—			—			(32,262	)		(33,764	)		(32,262	)		(33,764	)		10,065,255		9,354,890
Consumer loans		3,798,595		3,625,167		226,289		330,108		4,024,884		3,955,275		—			—			(226,439	)		(289,851	)		(226,439	)		(289,851	)		3,798,445		3,665,424
Total		32,088,827		29,736,507		992,031		1,200,461		33,080,858		30,936,968		(251,195	)		(256,915	)		(425,184	)		(489,995	)		(676,379	)		(746,910	)		32,404,479		30,190,058

	Commercial						Mortgage			Consumer
	Individual			Group			Group			Group			Total
	MCh$			MCh$			MCh$			MCh$			MCh$

Balance as of January 1, 2020		176,942			150,831			28,047			329,598			685,418
Charge-offs		(7,567	)		(38,782	)		(5,826	)		(224,769	)		(276,944	)
Sales or transfers of credits		(186	)		—			—			—			(186	)
Allowances established		79,507			71,658			11,175			195,596			357,936
Allowances released		—			—			—			—			—
Balance as of September 30, 2020		248,696			183,707			33,396			300,425			766,224
Charge-offs		(3,262	)		(14,535	)		(3,052	)		(18,767	)		(39,616	)
Sales or transfers of credits		(145	)		—			—			—			(145	)
Allowances established		11,626			—			3,420			8,193			23,239
Allowances released		—			(2,792	)		—			—			(2,792	)
Balance as of December 31, 2020		256,915			166,380			33,764			289,851			746,910
Charge-offs		(14,379	)		(44,026	)		(8,103	)		(118,607	)		(185,115	)
Sales or transfers of credits		(14,457	)		—			—			—			(14,457	)
Allowances established		23,116			44,129			6,601			55,195			129,041
Allowances released		—			—			—			—			—
Balance as of September 30, 2021		251,195			166,483			32,262			226,439			676,379

	Total receivable				Unearned income						Net balance receivable (*)
	September		December		September			December			September		December
	2021		2020		2021			2020			2021		2020
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$

Within one year		519,348		521,445		(50,854	)		(52,438	)		468,494		469,007
From 1 to 2 years		380,954		373,304		(37,122	)		(37,958	)		343,832		335,346
From 2 to 3 years		256,227		245,667		(24,356	)		(25,084	)		231,871		220,583
From 3 to 4 years		165,802		161,492		(16,644	)		(17,433	)		149,158		144,059
From 4 to 5 years		114,440		110,743		(11,973	)		(12,841	)		102,467		97,902
After 5 years		329,877		350,679		(25,522	)		(28,994	)		304,355		321,685
Total		1,766,648		1,763,330		(166,471	)		(174,748	)		1,600,177		1,588,582

	As of September 30, 2021
	Carrying amount		Allowances			Sale price		Effect on income *(loss) gain ()**
	MCh$		MCh$			MCh$		MCh$

Sale of current loans		16,327		(14,457	)		6,537		4,667
Sale of written – off loans		—		—			—		—
Total		16,327		(14,457	)		6,537		4,667

	As of September 30, 2020
	Carrying amount		Allowances			Sale price		Effect on income *(loss) gain ()**
	MCh$		MCh$			MCh$		MCh$

Sale of current loans		43,804		(186	)		43,804		186
Sale of written – off loans		—		—			—		—
Total		43,804		(186	)		43,804		186

	September 2021						December 2020
	Available- for-sale		Held-to- maturity		Total		Available-for -sale		Held-to- maturity		Total
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$

Instruments issued by the Chilean Government and Central Bank of Chile
Bonds issued by the Central Bank of Chile		102		—		102		109		—		109
Promissory notes issued by the Central Bank of Chile		—		—		—		—		—		—
Other instruments of the Chilean Government and the Central Bank of Chile		2,248,411		302,532		2,550,943		163,491		—		163,491

Other instruments issued in Chile
Deposit promissory notes from domestics banks		—		—		—		—		—		—
Mortgage bonds from domestic banks		116,770		—		116,770		128,763		—		128,763
Bonds from domestic banks		2,495		—		2,495		15,887		—		15,887
Deposits from domestic banks		1,046,221		—		1,046,221		685,392		—		685,392
Bonds from other Chilean companies		22,615		—		22,615		34,539		—		34,539
Promissory notes issued by other Chilean companies		—		—		—		—		—		—
Other instruments issued in Chile		3,699		—		3,699		32,342		—		32,342

Instruments issued Abroad
Instruments from foreign governments or Central Banks		—		—		—		—		—		—
Other instruments		—		—		—		—		—		—

Total		3,440,313		302,532		3,742,845		1,060,523		—		1,060,523

										Investment
		Ownership Interest				Equity				Assets				Income
		September		December		September		December		September		December		September			September
Company	Shareholder	2021		2020		2021		2020		2021		2020		2021			2020
		%		%		MCh$		MCh$		MCh$		MCh$		MCh$			MCh$
Associates
Transbank S.A. (*)	Banco de Chile		26.16		26.16		53,886		67,337		19,003		17,613		(6,457	)		(1,833	)
Administrador Financiero del Transantiago S.A.	Banco de Chile		20.00		20.00		18,448		19,171		3,744		3,951		182			261
Redbanc S.A.	Banco de Chile		38.13		38.13		9,603		8,663		3,702		3,307		398			(421	)
Soc. Operadora de Tarjetas de Crédito Nexus S.A.	Banco de Chile		29.63		29.63		11,551		8,626		3,519		2,556		963			227
Centro de Compensación Automatizado S.A.	Banco de Chile		33.33		33.33		10,145		8,182		3,448		2,787		660			330
Sociedad Interbancaria de Depósitos de Valores S.A.	Banco de Chile		26.81		26.81		6,182		5,526		1,657		1,564		196			193
Sociedad Imerc OTC S.A.	Banco de Chile		12.33		12.33		12,013		12,248		1,481		1,510		(26	)		(28	)
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.	Banco de Chile		15.00		15.00		6,601		6,436		1,010		980		40			24
Subtotal Associates							128,429		136,189		37,564		34,268		(4,044	)		(1,247	)

Joint Ventures
Servipag Ltda.	Banco de Chile		50.00		50.00		14,078		13,268		7,039		6,631		405			93
Artikos Chile S.A.	Banco de Chile		50.00		50.00		2,483		2,547		1,242		1,439		402			376
Subtotal Joint Ventures							16,561		15,815		8,281		8,070		807			469
Subtotal							144,990		152,004		45,845		42,338		(3,237	)		(778	)

Investments valued at cost (1)
Bolsa de Comercio de Santiago S.A.	Banchile Corredores de Bolsa										1,646		1,646		355			333
Banco Latinoamericano de Comercio Exterior S.A. (Bladex)	Banco de Chile										309		309		33			43
Bolsa Electrónica de Chile S.A.	Banchile Corredores de Bolsa										257		257		—			9
Sociedad de Telecomunicaciones Financieras Interbancarias Mundiales (Swift)	Banco de Chile										23		91		—			—
CCLV Contraparte Central S.A.	Banchile Corredores de Bolsa										8		8		1			1
Subtotal											2,243		2,311		389			386
Total											48,088		44,649		(2,848	)		(392	)

	Useful Life		Average remaining amortization		Gross balance				Accumulated Amortization						Net balance
	September	December	September	December	September		December		September			December			September		December
	2021	2020	2021	2020	2021		2020		2021			2020			2021		2020
	Years	Years	Years	Years	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$

Other Intangible Assets:
Software or computer programs	6	6	4	4		201,235		180,669		(132,834	)		(119,968	)		68,401		60,701
Total						201,235		180,669		(132,834	)		(119,968	)		68,401		60,701

Detail	Commitment Amount
	September		December
	2021		2020
	MCh$		MCh$

Software and licenses		5,196		3,830

	Useful Life		Average remaining depreciation		Gross balance				Accumulated Depreciation						Net balance
	September	December	September	December	September		December		September			December			September		December
	2021	2020	2021	2020	2021		2020		2021			2020			2021		2020
	Years	Years	Years	Years	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Type of property and equipment:
Land and Buildings	26	26	19	20		309,991		304,951		(146,631	)		(142,543	)		163,360		162,408
Equipment	5	5	4	4		240,051		222,624		(187,298	)		(175,141	)		52,753		47,483
Others	7	7	4	4		56,294		55,898		(48,719	)		(47,861	)		7,575		8,037
Total						606,336		583,473		(382,648	)		(365,545	)		223,688		217,928

	Gross Balance				Accumulated Depreciation						Net Balance
	September		December		September			December			September		December
	2021		2020		2021			2020			2021		2020
	MCh$		MCh$		MCh$			MCh$			MCh$		MCh$
Categories
Buildings		122,660		123,215		(43,071	)		(33,560	)		79,589		89,655
Floor space for ATMs		41,621		40,445		(23,360	)		(16,496	)		18,261		23,949
Improvements to leased properties		25,765		26,579		(20,391	)		(21,354	)		5,374		5,225
Total		190,046		190,239		(86,822	)		(71,410	)		103,224		118,829

	September 2021
	Buildings			Floor space for ATMs			Improvements to leased properties			Total
	MCh$			MCh$			MCh$			MCh$

Gross Balance
Balance as of January 1, 2021		123,215			40,445			26,579			190,239
Additions		8,129			1,929			1,086			11,144
Write-downs		(8,684	)		(753	)		(1,900	)		(11,337	)
Total		122,660			41,621			25,765			190,046

Accumulated Depreciation
Balance as of January 1, 2021		(33,560	)		(16,496	)		(21,354	)		(71,410	)
Depreciation of the period (*)		(13,716	)		(7,587	)		(653	)		(21,956	)
Write-downs		4,205			723			1,616			6,544
Total		(43,071	)		(23,360	)		(20,391	)		(86,822	)

Balance as of September 30, 2021		79,589			18,261			5,374			103,224

	Total cash flow for the period
	MCh$
Lease liability
Balances as of January 1, 2020		146,013
Liabilities for new lease agreements		2,432
Interest expenses		1,993
Payments of capital and interests		(21,542	)
Remeasurement		(1,331	)
Derecognized contracts		(4,342	)
Others		2,000
Balances as of September 30, 2020		125,223
Liabilities for new lease agreements		3,336
Interest expenses		539
Payments of capital and interests		(7,164	)
Remeasurement		(313	)
Derecognized contracts		(7,995	)
Others		1,391
Balances as of December 31, 2020		115,017
Liabilities for new lease agreements		6,292
Interest expenses		1,514
Payments of capital and interests		(22,988	)
Derecognized contracts		(4,588	)
Others		3,766
Balances as of September 30, 2021		99,013

	September 2021						September 2020
	Tax rate						Tax rate
	%			MCh$			%			MCh$

Income tax calculated on net income before tax		27.00			172,549			27.00			116,350
Price-level restatement		(7.14	)		(45,600	)		(4.52	)		(19,457	)
Others Additions or deductions		0.47			3,017			(0.64	)		(2,791	)
Effective rate and income tax expense		20.33			129,966			21.84			94,102

	Balances as of December 31,		Effect on						Balances as of September 30,
	2020		Income			Equity			2021
	MCh$		MCh$			MCh$			MCh$
Debit Differences:
Allowances for loan losses		268,482		14,109			—			282,591
Personnel provisions		16,233		(931	)		—			15,302
Staff vacations provisions		9,164		894			—			10,058
Accrued interests adjustments from impaired loans		4,570		(105	)		—			4,465
Staff severance indemnities provision		537		(1	)		(135	)		401
Provision of credit cards expenses		7,959		1,457			—			9,416
Provision of accrued expenses		14,083		(2,470	)		—			11,613
Adjustment for valuation of financial assets available-for-sale		—		—			4,136			4,136
Leasing		28,835		12,193			—			41,028
Incomes received in advance		16,088		(2,881	)		—			13,207
Other adjustments		26,905		10,135			—			37,040
Total Debit Differences		392,856		32,400			4,001			429,257

Credit Differences:
Depreciation and price-level restatement of property and equipment		17,256		7			—			17,263
Adjustment for valuation of financial assets available-for-sale		223		—			(223	)		—
Transitory assets		5,378		3,939			—			9,317
Loans accrued to effective rate		2,779		(268	)		—			2,511
Prepaid expenses		2,234		4,363			—			6,597
Other adjustments		7,041		(763	)		—			6,278
Total Credit Differences		34,911		7,278			(223	)		41,966

Total, Net		357,945		25,122			4,224			387,291

	Balance as of December 31,		Effect on						Balance as of September 30,		Effect on						Balance as of December 31,
	2019		Income			Equity			2020		Income			Equity			2020
	MCh$		MCh$			MCh$			MCh$		MCh$			MCh$			MCh$
Debit differences:
Allowances for loan losses		221,079		28,736			—			249,815		18,667			—			268,482
Personnel provisions		16,714		(4,085	)		—			12,629		3,604			—			16,233
Staff vacations provisions		7,444		1,176			—			8,620		544			—			9,164
Accrued interest adjustments from impaired loans		3,674		703			—			4,377		193			—			4,570
Staff severance indemnities provision		607		(102	)		25			530		7			—			537
Provisions of credit card expenses		8,221		359			—			8,580		(621	)		—			7,959
Provisions of accrued expenses		10,564		2,354			—			12,918		1,165			—			14,083
Leasing		41,792		(12,473	)		—			29,319		(484	)		—			28,835
Incomes received in advance		32,170		(13,633	)		—			18,537		(2,449	)		—			16,088
Other adjustments		15,485		11,285			—			26,770		135			—			26,905
Total Debit Differences		357,750		14,320			25			372,095		20,761			—			392,856

Credit differences:
Depreciation of property and equipment and investment properties		15,524		1,388			—			16,912		344			—			17,256
Adjustment for valuation financial assets available-for-sale		1,039		—			(378	)		661		—			(438	)		223
Transitory assets		7,174		829			—			8,003		(2,625	)		—			5,378
Loans accrued to effective rate		1,386		(375	)		—			1,011		1,768			—			2,779
Prepaid expenses		3,334		(1,991	)		—			1,343		891			—			2,234
Other adjustments		8,345		2,487			—			10,832		(3,791	)		—			7,041
Total Credit Differences		36,802		2,338			(378	)		38,762		(3,413	)		(438	)		34,911

Total, Net		320,948		11,982			403			333,333		24,174			438			357,945

Provision for assets received in lieu of payment	MCh$

Balance as of January 1, 2020		188
Provisions used		(967	)
Provisions established		820
Provisions released		—
Balance as of September 30, 2020		41
Provisions used		(121	)
Provisions established		132
Provisions released		—
Balance as of December 31, 2020		52
Provisions used		(97	)
Provisions established		119
Provisions released		—
Balance as of September 30, 2021		74

	Minimum dividends			Personnel benefits and payroll			Contingent loan Risks			Additional loan provisions		Country risk provisions and other contingencies			Total
	MCh$			MCh$			MCh$			MCh$		MCh$			MCh$

Balances as of January 1, 2020		300,461			109,075			57,042			213,252		4,833			684,663
Provisions established		169,951			51,659			21,555			27,000		3,992			274,157
Provisions used		(300,461	)		(67,406	)		—			—		—			(367,867	)
Provisions released		—			—			—			—		—			—
Balances as of September 30, 2020		169,951			93,328			78,597			240,252		8,825			590,953
Provisions established		50,320			31,294			—			80,000		—			161,614
Provisions used		—			(13,379	)		—			—		—			(13,379	)
Provisions released		—			—			(2,406	)		—		(2,871	)		(5,277	)
Balances as of December 31, 2020		220,271			111,243			76,191			320,252		5,954			733,911
Provisions established		226,135			91,890			2,293			140,000		3,434			463,752
Provisions used		(220,271	)		(95,127	)		—			—		(104	)		(315,502	)
Provisions released		—			—			—			—		—			—
Balances as of September 30, 2021		226,135			108,006			78,484			460,252		9,284			882,161