Banco de Chile (CHILE) investor relations material

Executive summary

• Achieved market leadership in net income, return on average assets, net fee income, and net interest margin among peers for 2025, reflecting resilient core revenues and disciplined management.

• Net income for 2025 was CLP 1,192,262 million, down 1.3% year-over-year, with a 2.2% return on average assets and a CET1 ratio of 14.5%, the highest among peers.

• Maintained top market value among private banks in Chile and led in average trade volumes, demonstrating strong investor confidence.

• Recognized for best customer satisfaction, corporate governance, workplace, and as best bank in Chile.

• Strategic advances included digital account growth, new payment subsidiary, and ESG bond issuance.

Financial highlights

• Net income for 2025 reached CLP 1,192 billion, with a ROAC of 21.9% and ROAA of 2.2%.

• Operating revenues for 2025 were CLP 3,026 billion, with a NIM of 4.6% and fee margin of 1.3%.

• Net fee and commission income grew 11.4% year-over-year to CLP 637,259 million, driven by mutual funds, transactional services, and stock brokerage.

• Cost-to-income ratio improved to 37.4% for 2025; guidance for 2026 is around 39%.

• NIM remains the strongest among peers, supported by leadership in demand deposits and a diversified loan mix.

Outlook and guidance

• 2026 GDP growth expected at 2.4%, with inflation converging to 3% and policy rate to 4.25%.

• Loan growth guidance: total loans to grow 6–7% nominal, above the industry forecast of ~4.5%, with commercial, consumer, and mortgage loans expected to expand.

• Return on average capital guidance for 2026 is 19%-21%, efficiency ratio around 39%, and cost of risk between 1.1%-1.2%.

• Fee income expected to grow at high single to low double digits, with expense growth in line with or slightly above inflation.