Banco Itaú (ITAUCL) Santander Andean Conference presentation summary

Business overview and market position

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

• Holds a 9.7% market share in Chile and 2.8% in Colombia, with 219 branches and 6,865 employees.

• Recurring net income for 2Q24 reached $105.4M, with a recurring ROTAE of 11.9%.

• Maintains a top 3 position in ROTE among Chilean banks and leads in AUM growth, doubling industry pace.

Financial performance and efficiency

• Loan growth slowed to 2.9% YoY, below the system's 4.0%, but demand and time deposits outpaced the market.

• Financial margin with clients rose 7.8% YoY to Ch$344.9B; commissions and fees grew 17.6% YoY when adjusted for one-offs.

• Non-interest expenses increased 0.7% YoY, remaining below inflation, with an efficiency ratio better than the industry average.

• Cost of credit rose 44.2% YoY, with a coverage ratio of 250% and NPLs at 2.1%.

Capital, liquidity, and risk

• CET1 capital ratio at 10.93%, in line with peers and with no Pilar 2 charges.

• Liquidity Coverage Ratio at 256% and Net Stable Funding Ratio at 122%, both well above regulatory requirements.

• In Colombia, ROE at 1.6% and capital adequacy ratios remain robust despite a challenging macro environment.