Banco Itaú (ITAUCL) investor relations material

Executive summary

• Achieved strong profitability in Q4 2025, with recurring net income of CLP 430 billion for the year, up 11.8% year-over-year, and a margin of 11.8%, improving 40 basis points from last year.

• Q4 net income rose 23% year-over-year, driven by higher fee generation and lower credit costs, with fees up 13% and cost of credit down 15% for the year.

• Enhanced payments and merchant offering through the acquisition of Klap and accelerated strategic shift in Colombia, including divestment of retail portfolio to focus on corporate and treasury business.

• Recognized for client satisfaction, digital experience, employee engagement, and sustainability, ranking in the top 15% of global banks in S&P Sustainability Yearbook and receiving industry awards.

• Maintained a strong capital position, closing with a total capital ratio of 17.7% and CET1 ratio of 12.2%, enabling a proposed 60% dividend payout.

Financial highlights

• Consolidated recurring net income for Q4 was CLP 112 billion, up 23.3% year-over-year, with return on tangible equity (ROTE) at 11.9% consolidated and 14.0% in Chile.

• Consolidated loan portfolio reached CLP 28.9 trillion, up 3.6% year-over-year; Chilean portfolio at CLP 24.2 trillion, up 3.5%.

• Financial margin with clients was CLP 329.3 billion, down 1.8% year-over-year; commissions and fees rose to CLP 66.3 billion.

• Cost of credit for the year was 1.1%, down from 1.3% in 2024, with Q4 cost of credit at CLP 65.3 billion.

• Non-interest expenses increased 4.0% year-over-year, mainly due to one-off transformation plan provisions, but efficiency ratio improved to 41.3% in Q4 2025.

• Stock delivered a 96.3% return in 2025, with price to tangible book value rising from 0.6x to 1.1x by year-end.

Outlook and guidance

• 2026 guidance for Chile: loan growth of 6%-8%, financial margin with clients at 3.3%-3.5%, commissions and fees growth of 13%-15%, cost of credit at 1.0%-1.2%, non-interest expense growth around 3%, and ROTE target of ~13%.

• Expect stronger loan growth and economic activity in the second half of 2026.

• Colombia operation restructuring expected to complete by end of 2027, with normalized ROTE in line or above cost of equity post-restructuring.

• The bank’s capital and liquidity ratios remain robust, supporting future growth and regulatory compliance.