6-K 1 bchfinancial4q06_6k.htm CONSOLIDATED FINANCIAL STATEMENTS 2006 Provided by MZ Data Products
 

FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

     Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of February, 2007

Commission File Number 001-15266

BANK OF CHILE
(Translation of registrant's name into English)

Ahumada 251
Santiago, Chile

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F___X___ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.

Yes____ No___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________


BANCO DE CHILE
REPORT ON FORM 6-K

Attached is an English translation of Banco de Chile and Subsidiaries Consolidated Financial Statements as of December 31, 2006 and 2005, released in Chilean newspapers on February 20, 2006.

The complete financial statements, together with their respective notes and the corresponding report of the external auditors, are available at www.bancochile.cl, as well as at Banco de Chile Principal Offices.-


Banco de Chile and Subsidiaries

 

Consolidated Financial Statements
as of December 31, 2006 and 2005


BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31,
(Expressed in million of Chilean pesos)

    2006    2005 
ASSETS         
    MCh$    MCh$ 
 
CASH AND DUE FROM BANKS    1,219,073.5    673,153.6 
       
 
LOANS:         
   Commercial loans    3,970,908.8    3,584,630.6 
   Foreign trade loans    677,296.0    562,336.0 
   Consumer loans    1,072,323.9    882,291.1 
   Mortgage loans    581,218.2    684,424.0 
   Leasing contracts    539,176.0    464,355.9 
   Contingent loans    987,313.9    738,769.7 
   Other outstanding loans    1,762,224.5    1,363,056.3 
   Past due loans    61,685.1    72,847.0 
       
                             Total loans    9,652,146.4    8,352,710.6 
   Allowance for loan losses    (144,978.6)   (144,272.2)
       
                             Total loans, net    9,507,167.8    8,208,438.4 
       
 
OTHER LOANS:         
   Interbank loans    43,019.4    25,537.3 
   Investments purchased under agreements to resell    53,313.5    47,676.0 
       
                               Total other loans    96,332.9    73,213.3 
       
 
TRADING SECURITIES    1,197,372.1    1,367,455.3 
       
 
INVESTMENTS:         
   Available for sale    40,066.2    25,162.4 
   Held to maturity    16,003.0    15,738.5 
       
                             Total investments    56,069.2    40,900.9 
       
 
DERIVATIVE INSTRUMENTS    50,500.9   
       
 
OTHER ASSETS    474,399.9    397,130.1 
       
 
FIXED ASSETS:         
   Bank premises and equipment, net    151,676.9    145,441.0 
   Investments in other companies    7,692.7    7,310.7 
       
                             Total fixed assets    159,369.6    152,751.7 
       
                                             Total assets    12,760,285.9    10,913,043.3 
       


BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31,
(Expressed in million of Chilean pesos)

LIABILITIES AND SHAREHOLDERS’ EQUITY    2006    2005 
    MCh$    MCh$ 
DEPOSITS AND OTHER LIABILITIES:         
   Current accounts    1,738,972.4    1,548,059.6 
   Time deposits    5,935,810.0    4,871,502.9 
   Other demand and time deposits    512,395.0    419,841.5 
   Securities sold under agreements to repurchase    306,855.3    276,435.3 
   Mortgage finance bonds    477,637.0    568,190.9 
   Contingent liabilities    988,359.0    739,109.0 
       
                             Total deposits and other liabilities    9,960,028.7    8,423,139.2 
       
 
BONDS ISSUED:         
   Bonds    554,271.8    331,522.4 
   Subordinated bonds    405,942.4    311,695.5 
       
                             Total bonds issued    960,214.2    643,217.9 
       
 
BORROWINGS FROM FINANCIAL INSTITUTIONS         
AND CENTRAL BANK:         
   Central Bank credit lines for renegotiation of loans    824.5    1,436.2 
   Borrowings from domestic financial institutions    88,260.8    92,053.6 
   Foreign borrowings    591,573.0    675,384.1 
   Other liabilities    26,432.0    34,451.8 
       
                             Total borrowings from financial institutions and Central Bank    707,090.3    803,325.7 
       
 
DERIVATIVE INSTRUMENTS    69,954.8    61,277.1 
       
 
OTHER LIABILITIES    228,365.5    190,698.9 
       
                             Total liabilities    11,925,653.5    10,121,658.8 
       
 
MINORITY INTEREST    1.8    1.0 
       
 
SHAREHOLDERS’ EQUITY:         
   Capital and reserves    640,940.2    608,775.7 
   Other equity accounts    (1,557.3)   (1,911.1)
   Net income for the year    195,247.7    184,518.9 
       
                             Total shareholders’ equito    834,630.6    791,383.5 
       
                                             Total liabilities and shareholders’ equity    12,760,285.9    10,913,043.3 
       


BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AS OF DECEMBER 31,
(Expressed in million of Chilean pesos)

    2006    2005 
OPERATING RESULTS:    MCh$    MCh$ 
         
   Interest revenue    777,654.0    697,783.9 
   Gains from trading activities    40,740.5    14,511.3 
   Income from fees and other services    183,592.7    176,981.0 
   Gains from foreign exchange transactions      24,154.5 
   Other operating income    8,853.9    10,697.4 
       
                             Total operating revenues    1,010,841.1    924,128.1 
   Less:         
   Interest expense    (372,243.5)   (316,676.6)
   Losses from trading activities    (8,160.1)   (30,730.9)
   Expenses from fees and other services    (41,348.8)   (33,423.3)
   Loss from foreign exchange transactions    (10,802.3)  
   Other operating expenses    (17,556.9)   (14,077.7)
       
                             Gross margin    560,729.5    529,219.6 
   Personnel salaries and expenses    (157,957.5)   (153,778.8)
   Administrative and other expenses    (122,811.7)   (111,262.2)
   Depreciation and amortization    (21,126.7)   (18,587.4)
       
                             Net margin    258,833.6    245,591.2 
   Provision for loan losses    (34,252.6)   (24,160.6)
       
                             Total operating income    224,581.0    221,430.6 
 
NON OPERATING RESULTS:         
   Non operating income    16,716.8    8,023.8 
   Non operating expenses    (14,457.6)   (12,100.4)
   Equity participation in net income in investments in other companies    1,031.1     695,6 
   Net loss from price-level restatement    (8,526.4)   (11,690.2)
       
                             Income before income taxes    219,344.9    206,359.4 
   Income taxes    (24,096.3)   (21,840.1)
       
                             Income after income taxes    195,248.6    184,519.3 
   Minority interest    (0.9)   (0.4)
       
                             Net income for the year    195,247.7    184,518.9 
       

“The complete financial statements, together with their respective notes and the corresponding report of the external auditors, are available at www.bancochile.cl, as well as at Banco de Chile Principal Offices”

 

 

Héctor Hernández G.    Pablo Granifo L. 
General Accounting Manager    Chief Executive Officer 


 
SIGNATURE
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 21, 2007

 
Banco de Chile
/S/  Pablo Granifo L.
 
By: Pablo Granifo Lavin
Chief Executive Officer