Banco Itaú (ITAUCL) Investor presentation summary

Corporate profile and business overview

• Represents 13% of Itaú Unibanco's consolidated loan portfolio, with US$46.3 billion in assets and US$29.3 billion in loans as of June 2024.

• Operates 219 branches and employs 6,865 people across Chile and Colombia.

• Offers a universal banking model with retail and wholesale segments, serving a broad client base from high-net-worth individuals to SMEs.

• History marked by mergers, acquisitions, and digital transformation, with a strong focus on innovation and adaptability.

• Vision centers on sustainable performance and customer satisfaction, emphasizing diversity, inclusion, and ethics.

Strategic priorities and transformation

• Management model aligns vision, objectives, and incentives through strategic levers: customer relationship, product-market fit, operational efficiency, and key capabilities.

• Customer centricity drives improvements in client satisfaction (NPS), with leadership positions across retail, SME, and corporate segments.

• Digital transformation includes advanced analytics, expanded digital branches, and top-rated digital channels.

• Brand visibility enhanced through major sports sponsorships and leading social media presence among private banks in Chile.

• Culture fosters agility, innovation, and inclusion, targeting 45–50% women in leadership by 2025 and high employee satisfaction.

Financial performance and highlights (2Q24)

• Recurring net income reached Ch$99.4 billion, down 32.8% YoY, with recurring ROTE at 11.9%.

• Maintained top 3 position in ROTE among Chilean banks, with efficiency ratio better than industry average.

• Loan growth slowed to 2.9% YoY, but demand and time deposits grew faster than the system; AUM growth led the market.

• Cost of credit increased 36.6% YoY, while non-interest expenses grew below inflation.

• CET1 capital ratio at 10.93%, in line with peers, and liquidity ratios significantly above regulatory limits.