Banco de Chile (CHILE) investor relations material

Executive summary

• Achieved strong commercial and financial performance in 2Q26, with net income rising 28.1% YoY to CLP 390.6 billion, driven by higher inflation-indexed income and strong fee generation, despite increased credit loss expenses.

• Maintained industry-leading profitability, with ROAE at 27.9% and ROAA at 2.84% for the quarter.

• Advanced digital transformation, formed new commercial alliances, improved productivity, and made progress in ESG initiatives.

• Strategy focuses on customer centricity, efficiency, and sustainability, aiming for top positions in profitability, DDA balances, and lending.

• Retail Banking remained the largest contributor to pre-tax income, followed by Wholesale Banking, both benefiting from higher operating income and fee growth.

Financial highlights

• Operating revenues for 2Q26 increased 20.9% YoY to CLP 922 billion; net interest margin reached 5.8% in 2Q26, with net fee income up 10.7%.

• Total loans reached CLP 40.3 trillion in June 2026, up 2.3% YoY; pro forma growth excluding a one-time effect was 2.9%.

• Efficiency ratio improved to 31.3% for the quarter and 34.5% for the first half, among the best in the system.

• Net income for Q2 was CLP 391 billion, with ROAE at 27.9% and ROAA at 2.4%.

• Credit loss expense surged 71.4% YoY in 2Q26 due to additional provisions for external risks and higher retail delinquency.

Outlook and guidance

• Loan growth forecast for 2026 revised down to ~6% nominal, with NIM expected at ~4.6%, cost of risk at 1.2%-1.3%, and efficiency ratio guidance improved to ~37% by year-end.

• ROAE/ROAC guidance for year-end adjusted to 21%-22%, reflecting higher cost of risk and lower inflation.

• For 2027, GDP growth expected to approach 3%, with inflation near 3% and policy rate stable at 4.5%.

• Loan growth for 2027 expected at 7%-8%, with upside potential depending on economic conditions.

• Credit loss expense ratio forecasted at 1.2%-1.3%, considering additional provisions.