Banco de Chile (CHILE) investor relations material

Executive summary

• Achieved strong profitability in 1Q26 with net income of CLP 269 billion (Ch$268,628 million), ROAE of 18.2%, and industry-leading coverage and capital adequacy, despite lower inflation-linked revenues and higher credit loss expenses.

• Loan growth accelerated 2.6% quarter-over-quarter, led by retail and commercial portfolios, with strong origination in consumer and SME segments.

• Maintained disciplined strategy focused on customer centricity, digital and AI adoption, productivity, and ESG initiatives, including an MSCI ESG rating upgrade and inclusion in the S&P Global Sustainability Yearbook.

• Efficiency initiatives kept real expenses flat year-over-year, with an efficiency ratio of 38.4%, outperforming the industry average.

• Maintained leadership in demand deposits and commercial loans, recognized for service quality and sustainability.

Financial highlights

• Net income for Q1 2026 was CLP 269 billion (Ch$268,628 million), with ROAE at 18.2% and ROAA at 2%.

• Total loans grew 2.6% quarter-over-quarter to CLP 40.2 trillion; operating revenues were CLP 749 billion, down 3.9% year-over-year.

• Net interest margin was 4.10%, down from 4.96% a year ago due to lower inflation.

• Cost of risk stood at 1.16%, with NPLs at 1.6% and efficiency ratio at 38.4%.

• CET1 ratio at 13.3% and total capital ratio at 17%, both above Basel III requirements.

Outlook and guidance

• Nominal loan growth for FY2026 projected at 7%, with NIM guidance raised to 4.6%.

• Cost of risk to remain between 1.1%-1.2%; efficiency ratio targeted at 38% by year-end.

• ROAE/ROAC guidance increased to 21.5%-22.5%, excluding non-recurring events.

• Inflation forecast revised up to 4.3% for 2026, with normalization expected in 2027.

• Economic growth expected near potential, but higher short-term inflation may delay rate normalization.