Banco de Chile (CHILE) investor relations material

Executive summary

• Q3 net income was Ch$287,734 million, down 1.8% YoY; 9M net income rose 2.2% to Ch$946,929 million, as higher credit costs and personnel expenses offset revenue growth.

• 9M efficiency improved to 35.9% and ROAC was 22.1%; capital and liquidity ratios remained above regulatory requirements.

Financial highlights

• Q3 operating revenue was Ch$757,587 million, up 3.0% YoY; 9M revenue reached Ch$2,428,498 million, up 6.6%.

• Q3 net financial income was Ch$558,574 million, down 0.4% YoY; net fee income rose 8.4% to Ch$173,659 million.

• Q3 credit-loss expense rose 21.2% YoY to Ch$96,392 million; operating expenses rose 7.2% to Ch$296,231 million, including part of a non-recurring collective-bargaining bonus.

Outlook and guidance

• FY26 nominal loan growth guidance was revised to 5%–6% from ~6%; NIM guidance rose to 4.8% from 4.6%, with cost of risk at ~1.2%.

• FY26 cost-to-income guidance improved to ~36% from 37%; ROAC guidance is ~22%, including the estimated tax charge from the tax-rate change and May allowances.

• Baseline forecasts Chile GDP growth of ~0.4% in 2026 and 3.0% in 2027; inflation is projected at ~4.7% by end-2026 and 3.0% in 2027.

• Investment-led recovery is expected in 2027 following a temporary slowdown; unemployment, external shocks and geopolitical uncertainty could alter the outlook.