| (i) | Authorized, subscribed and paid shares: |
As of December 31, 2023, the paid-in capital of Banco de Chile is represented by 101,017,081,114 registered shares (101,017,081,114 in 2022), with no par value, subscribed and fully paid.
| Corporate Name or Shareholders’s name | Number of Shares | % of Equity Holding |
|---|
| LQ Inversiones Financieras S.A. | 46,815,289,329 | 46.344% |
|---|
| Banco de Chile on behalf of State Street | 5,912,541,950 | 5.853% |
|---|
| Banco Santander on behalf of foreign investors | 5,218,796,247 | 5.166% |
|---|
| Banchile Corredores de Bolsa S.A. | 5,093,108,613 | 5.042% |
|---|
| Inversiones LQ-SM Limitada | 4,854,988,014 | 4.806% |
|---|
| Banco de Chile on behalf of non-resident third parties | 4,366,453,313 | 4.322% |
|---|
| Banco de Chile on behalf of Citibank New York | 1,928,215,358 | 1.909% |
|---|
| Ever Chile SPA | 1,888,369,814 | 1.869% |
|---|
| J P Morgan Chase Bank | 1,540,646,308 | 1.525% |
|---|
| Inversiones Avenida Borgoño SPA | 1,190,565,316 | 1.179% |
|---|
| Ever 1 BAE SPA | 1,166,584,950 | 1.155% |
|---|
| Banco Santander Chile | 1,036,254,726 | 1.026% |
|---|
| Larraín Vial S.A. Corredora de Bolsa | 1,031,817,268 | 1.021% |
|---|
| A.F.P Habitat S.A. for A Fund | 599,181,211 | 0.593% |
|---|
| BCI Corredores de Bolsa S.A. | 560,782,315 | 0.555% |
|---|
| Valores Security S.A. Corredores de Bolsa | 516,827,332 | 0.512% |
|---|
| Inversiones CDP SPA | 487,744,912 | 0.483% |
|---|
| A.F.P Cuprum S.A. for A Fund | 486,057,153 | 0.481% |
|---|
| Santander S.A. Corredores de Bolsa Limitada | 477,871,060 | 0.473% |
|---|
| BTG Pactual Chile S.A. Corredores de Bolsa | 456,328,957 | 0.452% |
|---|
| Subtotal | 85,628,424,146 | 84.766% |
|---|
| Others shareholders | 15,388,656,968 | 15.234% |
|---|
| Total | 101,017,081,114 | 100.000% |
|---|
| (i) | Authorized, subscribed and paid shares, continued: |
| Corporate Name or Shareholders’s name | Number of Shares | % of Equity Holding |
|---|
| LQ Inversiones Financieras S.A. | 46,815,289,329 | 46.344% |
|---|
| Banco Santander on behalf foreign investors | 5,152,721,486 | 5.101% |
|---|
| Banchile Corredores de Bolsa S.A. | 5,136,168,146 | 5.084% |
|---|
| Inversiones LQ-SM Limitada | 4,854,988,014 | 4.806% |
|---|
| Banco de Chile on behalf State Street | 4,578,821,545 | 4.533% |
|---|
| Banco de Chile on behalf of non-resident third parties | 4,469,302,412 | 4.424% |
|---|
| Banco de Chile on behalf Citibank New York | 2,114,554,951 | 2.093% |
|---|
| Ever Chile SPA | 1,888,369,814 | 1.869% |
|---|
| Inversiones Avenida Borgoño SPA | 1,190,565,316 | 1.179% |
|---|
| Ever 1 BAE SPA | 1,166,584,950 | 1.155% |
|---|
| Larraín Vial S.A. Corredora de Bolsa | 992,600,803 | 0.983% |
|---|
| J P Morgan Chase Bank | 912,758,708 | 0.904% |
|---|
| Banco Santander Chile | 727,463,267 | 0.720% |
|---|
| A.F.P Cuprum S.A. for A Fund | 665,713,252 | 0.659% |
|---|
| A.F.P Habitat S.A. for A Fund | 574,953,861 | 0.569% |
|---|
| BCI Corredores de Bolsa S.A. | 520,057,341 | 0.515% |
|---|
| Valores Security S.A. Corredores de Bolsa | 516,590,290 | 0.511% |
|---|
| Inversiones CDP SPA | 487,744,912 | 0.483% |
|---|
| A.F.P Capital S.A. for A Fund | 475,086,799 | 0.470% |
|---|
| Santander S.A. Corredores de Bolsa Limitada | 462,028,745 | 0.457% |
|---|
| Subtotal | 83,702,363,941 | 82.860% |
|---|
| Others shareholders | 17,314,717,173 | 17.140% |
|---|
| Total | 101,017,081,114 | 100.000% |
|---|
The following table shows the share movements from December 31, 2021 to December 31, 2023:
| Total |
|---|
| Ordinary Shares |
|---|
| Total shares as of December 31, 2021 | 101,017,081,114 |
|---|
| Total shares as of December 31, 2022 | 101,017,081,114 |
|---|
| Total shares as of December 31, 2023 | 101,017,081,114 |
|---|
| (b) | Approval and payment of dividends: |
At the Bank Ordinary Shareholders’ Meeting held on March 23, 2023, the distribution and payment of dividend No. 211 of Ch$8.58200773490 per share of the Banco de Chile was approved, with charge to the net distributable income for the year ended as of December 31, 2022. The dividends paid in the year 2023 amounted to Ch$866,929 million.
At the Bank Ordinary Shareholders’ Meeting held on March 17, 2022, the distribution and payment of dividend No. 210 of Ch$5.34393608948 per share of the Banco de Chile was approved, with charge to the net distributable income for the year ended as of December 31, 2021. The dividends paid in the year 2022 amounted to Ch$539,827 million.
| (c) | Provision for minimum dividends: |
The Chilean Corporations Law mandates a minimum distribution of 30% of distributable income. Accordingly, the Bank recorded a liability under the line item “Provision for dividends” for an amount of Ch$373,090 million (Ch$422,830 million in December 31, 2022) against “Retained earnings”.
| (i) | Basic earnings per share: |
Basic earnings per share are determined by dividing the net income attributable to the Bank ordinary equity holders in a period between the weighted average number of shares outstanding during that period, excluding the average number of own shares held throughout the period.
| (ii) | Diluted earnings per share: |
In order to calculate the diluted earnings per share, both the amount of income attributable to common shareholders and the weighted average number of shares outstanding, net of own shares, must be adjusted for all the inherent dilutive effects to the potential common shares (stock options, warrants and convertible debt).
The following table shows the income and share data used in the calculation of EPS:
| As of December 31, |
|---|
| 2023 | 2022 | 2021 |
|---|
| Basic earnings per share: |
|---|
| Net profits attributable to ordinary equity holders of the bank (in million Chilean pesos) | 1,374,026 | 1,445,799 | 1,056,316 |
|---|
| Weighted average number of ordinary shares | 101,017,081,114 | 101,017,081,114 | 101,017,081,114 |
|---|
| Earning per shares (in Chilean pesos) | 13.60 | 14.31 | 10.46 |
|---|
| Diluted earnings per share: |
|---|
| Net profits attributable to ordinary equity holders of the bank (in million Chilean pesos) | 1,374,026 | 1,445,799 | 1,056,316 |
|---|
| Weighted average number of ordinary shares | 101,017,081,114 | 101,017,081,114 | 101,017,081,114 |
|---|
| Assumed conversion of convertible debt | — | — | — |
|---|
| Adjusted number of shares | 101,017,081,114 | 101,017,081,114 | 101,017,081,114 |
|---|
| Diluted earnings per share (in Chilean pesos) | 13.60 | 14.31 | 10.46 |
|---|
As of December 31, 2023, 2022 and 2021, the Bank does not have instruments that generate dilutive effects.
| (e) | Other comprehensive income: |
Below is the composition and changes of accumulated other comprehensive income as of December 31, 2023, 2022 and 2021:
| Elements that will not be reclassified in profit or loss · Elements that can be reclassified in profit or loss |
|---|
| New measurements of net defined benefit liability and actuarial results for other employee benefit plans | Fair value changes of equity instruments designated as at fair value through other comprehensive income | Income tax | Subtotal | Fair value changes of financial assets at fair value through other comprehensive income | Cash flow accounting hedge | Participation in other comprehensive income of entities registered under the equity method | Income tax | Subtotal | Total |
|---|
| MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ | MCh$ |
|---|
| Opening balances as of January 1, 2021 | — | 5,319 | (1,370) | 3,949 | 6,182 | (70,682) | (23) | 17,798 | (46,725) | (42,776) |
|---|
| Other comprehensive income for the year | — | (1,196) | 254 | (942) | (51,650) | 182,376 | 2 | (45,393) | 85,335 | 84,393 |
|---|
| Balances as of December 31, 2021 | — | 4,123 | (1,116) | 3,007 | (45,468) | 111,694 | (21) | (27,595) | 38,610 | 41,617 |
|---|
| Opening balances as of January 1, 2022 | — | 4,123 | (1,116) | 3,007 | (45,468) | 111,694 | (21) | (27,595) | 38,610 | 41,617 |
|---|
| Other comprehensive income for the year | (130) | 179 | (12) | 37 | 48,076 | (215,476) | (169) | 58,977 | (108,592) | (108,555) |
|---|
| Reclassifications from reserves | (208) | — | 57 | (151) | (2,340) | — | — | — | (2,340) | (2,491) |
|---|
| Balances as of December 31, 2022 | (338) | 4,302 | (1,071) | 2,893 | 268 | (103,782) | (190) | 31,382 | (72,322) | (69,429) |
|---|
| Opening balances as of January 1, 2023 | (338) | 4,302 | (1,071) | 2,893 | 268 | (103,782) | (190) | 31,382 | (72,322) | (69,429) |
|---|
| Other comprehensive income for the year | (75) | 5,367 | (1,429) | 3,863 | 8,874 | 113,183 | 116 | (32,365) | 89,808 | 93,671 |
|---|
| Balances as of December 31, 2023 | (413) | 9,669 | (2,500) | 6,756 | 9,142 | 9,401 | (74) | (983) | 17,486 | 24,242 |
|---|
| (f) | Retained earnings from previous years: |
During the year 2023, the Ordinary Shareholders Meeting of Banco de Chile agreed to deduct and withhold from the year 2022 liquid income, an amount equivalent to the value effect of the monetary unit of paid capital and reserves according to the variation in the Consumer Price Index, which occurred between November 2022 and November 2023, amounting to Ch$542,504 million.
