Banco Itaú (ITAUCL) investor relations material

Executive summary

• Chile loan growth reached 10.4% YoY versus 5.1% for the industry; recurring ROTE was 14.3%, while consolidated recurring ROTE was 11.9%, up ~45 bps QoQ.

• Consolidated recurring net income was CLP 115.4bn, up 5.9% QoQ and 4.5% YoY; Chile recurring net income rose 23.6% QoQ.

• Q3 reported a MCh$36,282 net loss versus net income of MCh$113,223 YoY; 9M net income was MCh$143,442 versus MCh$319,475, reflecting extraordinary Colombia sale and restructuring effects.

• Colombia completed the retail portfolio transfer to Banco de Bogotá, shifting toward Corporate Banking, Treasury and selected subsidiaries.

Financial highlights

• Consolidated recurring net income was CLP 115.4bn; Chile recurring net income was CLP 110.6bn, up 23.6% QoQ and 2.2% YoY.

• Chile financial margin with clients was CLP 259.7bn, up 2.1% QoQ and flat YoY; consolidated financial margin with clients was CLP 333.1bn, down 0.8% QoQ and up 1.4% YoY.

• Chile fees were CLP 48.6bn, up 23.8% YoY and down 1.9% QoQ; consolidated fees were CLP 58.9bn, up 26.3% YoY and down 2.0% QoQ.

• Chile cost of credit was CLP 57.1bn, down 6.7% YoY and 2.1% QoQ; non-interest expenses were CLP 137.0bn, down 2.4% QoQ and up 3.0% YoY.

• Q3 reported operating income was MCh$505,952 versus MCh$438,527 YoY; operating expenses were MCh$447,015, including MCh$213,900 of other operating expenses.

Outlook and guidance

• FY26 Chile loan growth guidance rose to 7%-9% from 6%-8%; management expects high-single-digit growth in late 2026 and 2027, modestly above the market.

• FY26 Chile average client financial margin guidance was revised to ~3.2% from 3.3%-3.5%; fee growth guidance fell to 11%-13% from 12%-14%.

• FY26 cost of credit guidance improved to ~1.0% from 1.0%-1.1%; non-interest expense growth guidance remains ~2%.

• Managerial effective tax rate guidance was revised to ~13% from ~15%, and ROTE guidance rose to ~13% from 12%-13%; medium-term ROTE range remains 13%-15%.

• Colombia ROTE is expected to approach high single digits next year, with cost of capital targeted in two to three years.