EX-99 2 e9586765v1.txt [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- CORP BANCA ANNOUNCES 2007 FIRST QUARTER RESULTS Santiago, Chile, May 3, 2007 - CORP BANCA (NYSE: BCA), a Chilean financial institution offering a wide variety of corporate and retail financial products and services, today announced its financial results for the first quarter of 2007. This report is based on unaudited consolidated financial statements prepared in accordance with Chilean generally accepted accounting principles. Figures are expressed in Chilean pesos as of March 31, 2007 and percentages are expressed in real terms. Solely for the convenience of the reader, U.S. dollar amounts in this report have been translated from Chilean pesos at the rate of Ch$539.37 per U.S. dollar, the Central Bank of Chile's observed exchange rate as of March 30, 2007. [GRAPHIC OMITTED] ANALYSIS OF RESULTS Net income for the first quarter ended March 31, 2007 was Ch$6,413 million, a decrease of Ch$1,413 million, or 18.1%, as compared to the same period last year. However, our gross margin increased by Ch$6,327 million as compared to the first quarter last year. This increase in gross margin is offset by the negative impact on the results of our treasury business which was caused by a cut in interest rates during January 2007 of approximately Ch$2 million, an increase in operating expenses of Ch$3,746 million, an increase in provisions for loan losses of Ch$2,348 million and an increase in price-level restatement expenses of Ch$2,020 million.
Change between Percentage change Period ended March Period ended March 2006 and 2007 between 2006 and (Expressed in millions of Chilean pesos, 31, 2006 31, 2007 periods 2007 periods except percentage amounts) ---------------------------------------------------------------------------------------------------------------------- Gross Margin 27,281 33,607 6,327 23.2% ---------------------------------------------------------------------------------------------------------------------- Operating expenses (15,091) 18,837 (3,746) 24.8% ---------------------------------------------------------------------------------------------------------------------- Provisions for loan losses (3,864) (6,212) (2,348) 60.8% ---------------------------------------------------------------------------------------------------------------------- Income attributable to investments in other 88 265 177 202.5% companies ---------------------------------------------------------------------------------------------------------------------- Other non-operating expenses (233) (354) (120) 51.5% ---------------------------------------------------------------------------------------------------------------------- Net gain (loss) from price-level restatement 1,216 (804) (2,020) (166.1%) ---------------------------------------------------------------------------------------------------------------------- NET INCOME BEFORE TAXES 9,396 7,666 (1,730) (18.4%) ---------------------------------------------------------------------------------------------------------------------- Income tax provisions (1,570) (1,253) 317 (20.2%) ---------------------------------------------------------------------------------------------------------------------- NET INCOME 7,826 6,413 (1,413) (18.1%) ----------------------------------------------------------------------------------------------------------------------
[GRAPHIC OMITTED] GROSS MARGIN Our gross margin increased by Ch$6,327 million, or 23.2%, for the first quarter ended March 31, 2007 as compared to the same period last year. This is largely a result of increases in net interest revenue, net fees and income from services and net gains from trading activities, a total increase of Ch$8,926 million. However, these gains were partially offset by a loss in net foreign exchange transactions, a decrease of Ch$2,489 million from the same period last year.
Change between Percentage change Period ended March Period ended March 2006 and 2007 between 2006 and (Expressed in millions of Chilean pesos, 31, 2006 31, 2007 periods 2007 periods except percentage amounts) ---------------------------------------------------------------------------------------------------------------------- Net interest revenue 22,128 28,063 5,935 26.8% ---------------------------------------------------------------------------------------------------------------------- Fees and income from services, net 6,386 7,885 1,499 23.5% ---------------------------------------------------------------------------------------------------------------------- Gains from trading activities, net 1,025 2,517 1,492 145.5% ---------------------------------------------------------------------------------------------------------------------- Foreign exchange transactions, net 598 (1,891) (2,489) (416.2%) ---------------------------------------------------------------------------------------------------------------------- Other operating loss, net (2,857) (2,968) (111) 3.9% ---------------------------------------------------------------------------------------------------------------------- GROSS MARGIN 27,281 33,607 6,327 23.2% ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Net interest revenue, as adjusted(*) 21,590 27,956 6,365 29.5% ---------------------------------------------------------------------------------------------------------------------- Foreign exchange rate earnings, as adjusted(*) 1,136 (1,783) (2,919) (257.0%) ----------------------------------------------------------------------------------------------------------------------
(*) INCLUDES EXCHANGE RATE EARNINGS DERIVED FROM FORWARD CONTRACTS HELD BY CORP BANCA FOR HEDGING PURPOSES -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 1 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- Net interest revenue for the first quarter in 2007 was Ch$28,063 million, an increase of Ch$5,935 million, or 26.8%, as compared to the same period last year. Fees and income from services for the first quarter in 2007 was Ch$7,885 million, an increase of Ch$1,499 million, or 23.5%, as compared to the same period last year. This increase is due to our effort to increase fees in line with what we believe to be the market standard and to improve our fee collection processes for products oriented to retail banking customers (e.g. checking accounts and credit cards). We believe that our customers' acceptance of these changes demonstrate the high level of loyalty to our products and services. This reflects the increase in our client base as of March 31, 2007 as compared to the same period last year. Net gains from trading activities and foreign exchange transactions decreased by Ch$997 million for the first quarter in 2007 as compared to the same period last year. This is mainly due to the negative impact of the decision of the Chilean Central Bank to cut interest rates in January and its announcement that it projects a lower than expected inflation for 2007. [GRAPHIC OMITTED] OPERATING EXPENSES Operating expenses increased by Ch$3,746 million, or 24.8%, for the first quarter ended March 31, 2007 as compared to the same period last year. This increase was a result of higher personnel salaries and expenses and administrative and other expenses.
Change between Percentage change Period ended March Period ended March 2006 and 2007 between 2006 and (Expressed in millions of Chilean pesos, 31, 2006 31, 2007 periods 2007 periods except percentage amounts) ---------------------------------------------------------------------------------------------------------------------- Personnel salaries and expenses (9,623) (11,844) (2,221) 23.1% ---------------------------------------------------------------------------------------------------------------------- Administrative and other expenses (4,174) (5,656) (1,481) 35.5% ---------------------------------------------------------------------------------------------------------------------- Depreciation and amortization costs (1,294) (1,337) (43) 3.3% ---------------------------------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES (15,091) (18,837) (3,746) 24.8%
Personnel salaries and expenses increased by Ch$2,221 million, or 23.1%, as compared to the same period last year. This increase reflects the hiring of additional personnel to handle increased business activity in our commercial and operational areas. In addition, administrative and other expenses increased during the first quarter of 2007 by Ch$1,481 million, or 35.5%, as compared to the same period last year. The increase was primarily due to greater expenditures for marketing campaigns and for leases of additional branches. [GRAPHIC OMITTED] PRICE-LEVEL RESTATEMENT During the first quarter ended March 31, 2007, we recorded Ch$804 million of net expenses due to price-level restatement, an increase of Ch$2,020 million, or 166.1 %, as compared to the same period last year. This increase in expenses is a result of the higher inflation rate in Chile for the first quarter in 2007 as compared to the same period last year. [GRAPHIC OMITTED] OTHER INDICATORS Our return on equity after taxes decreased from 7.9% as of March 31, 2006 to 6.3% in 2007, principally due to our lower earnings during January 2007 resulting from the negative impact of the decrease of interest rates set by the Central Bank of Chile in January. Net interest margin (net interest revenue over interest-earning assets) increased to 3.0% as of March 31, 2007, or an increase of 2.8% as compared to the same period last year. -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 2 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- [GRAPHIC OMITTED] BUSINESS ACTIVITY LOAN PORTFOLIO. Our total loan portfolio (net of interbank loans) totaled Ch$3,434,648 million as of March 31, 2007, representing an increase of 17.2% in real terms during the twelve-month period then ended. In addition, our loan portfolio market share in Chile increased from 6.2% as of March 31, 2006 to 6.3% as of March 31, 2007.
Change between Percentage change As of As of 2006 and 2007 between 2006 and (Expressed in millions of Chilean pesos, March 31, 2006 March 31, 2007 periods 2007 periods except percentage amounts) ----------------------------------------------- ------------------ ------------------ --------------- ---------------- Commercial* 1,337,997 1,565,733 227,736 17.0% ---------------------------------------------------------------------------------------------------------------------- Consumer* 379,089 461,250 82,161 21.7% ---------------------------------------------------------------------------------------------------------------------- Foreign trade 228,944 231,151 2,207 1.0% ---------------------------------------------------------------------------------------------------------------------- Housing mortgages 118,643 152,053 33,410 28.2% ---------------------------------------------------------------------------------------------------------------------- Commercial mortgages 196,322 185,511 (10,811) (5.5%) ---------------------------------------------------------------------------------------------------------------------- Other commercial mortgages 902 1,588 686 76.0% ---------------------------------------------------------------------------------------------------------------------- Other housing mortgages 126,759 217,688 90,929 71.7% ---------------------------------------------------------------------------------------------------------------------- Leasing contracts 219,955 236,560 16,605 7.5% ---------------------------------------------------------------------------------------------------------------------- Factored receivables 52,408 58,857 6,449 12.3% ---------------------------------------------------------------------------------------------------------------------- Contingent 246,047 301,338 55,291 22.5% ---------------------------------------------------------------------------------------------------------------------- Past due loans 23,449 22,691 (758) (3.2%) ---------------------------------------------------------------------------------------------------------------------- Other outstanding loans 238 228 (10) (4.2%) ---------------------------------------------------------------------------------------------------------------------- TOTAL LOANS (EXCLUDING INTERBANK LOANS) 2,930,754 3,434,648 503,894 17.2% ----------------------------------------------------------------------------------------------------------------------
(*) INCLUDES OVERDRAFTS -------------------------------------------------------------------------------- According to the Chilean Superintendency of Banks and Financial Institutions (Superintendency), Corp Banca recorded a twelve-month retail loan growth of 33.5% while the average growth in the Chilean banking sector was 16.1%. According to the Superintendency, residential mortgages loans demonstrated the highest growth rate in real terms (comprised of the housing mortgages and other housing mortgages), with an increase of 51.1% as of March 31, 2007 as compared to the same period last year. This increase in residential mortgages loans easily outpaced the 14.9% growth reported for Chilean Banking Industry. This growth allowed us to increase our market share in residential mortgage loans from 2.5 % to 3.3% as of March 31, 2006 and 2007, respectively. [GRAPHIC OMITTED] OTHER INDICATORS Our risk index (allowances for loan losses over total loans) for the first quarter ended March 31, 2007, was 1.4 %, which compares favorably to our 1.6 % risk index for the same period last year. This is in line with the 1.5% risk index reported for the Chilean banking industry for the same period. The improvement in the risk index was mainly a result of changes in the composition of our loan portfolio, including a decrease in past-due loans of 3.2% as of March 31, 2007 as compared to the same period last year. Our past-due loans over total loans, net of interbank, was 0.7%, while the Chilean banking industry reported 0.8% as of March 31, 2007. Our coverage ratio, measured as allowances for loan losses over past-due loans, increased from 196.1% to 218.3% as of March 31, 2006 and 2007, respectively. The Chilean banking sector recorded a coverage ratio of 199.0 % as of March 31, 2007. -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 3 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- [GRAPHIC OMITTED} FINANCING
Change between Percentage change As of As of 2005 and 2006 between 2005 and (Expressed in millions of Chilean pesos, March 31, 2006 March 31, 2007 periods 2006 periods except percentage amounts) ----------------------------------------------- ------------------ ------------------ --------------- ---------------- Saving accounts and time deposits 1,560,956 1,759,123 198,167 12.7% ---------------------------------------------------------------------------------------------------------------------- Current (checking) accounts 154,117 176,368 22,251 14.4% ---------------------------------------------------------------------------------------------------------------------- Banker's drafts and other sight deposits 58,693 101,515 42,822 73.0% ---------------------------------------------------------------------------------------------------------------------- Mortgage bonds 293,606 336,789 43,183 14.7% ---------------------------------------------------------------------------------------------------------------------- Domestic borrowings 128,940 221,154 92,214 71.5% ---------------------------------------------------------------------------------------------------------------------- Foreign borrowings 221,444 225,330 3,886 1.8% ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Funds in process of settlement 21,041 17,948 (3,092) (14.7%) ---------------------------------------------------------------------------------------------------------------------- Current (checking) accounts + other sight 191,769 259,935 68,165 35.5% deposits (*) ----------------------------------------------------------------------------------------------------------------------
(*) Net funds in process of settlement Our domestic and other borrowings (saving accounts and time deposits, current (checking) accounts, banker's drafts and other sight deposits, mortgage bonds and domestic borrowings) increased by Ch$398,637 million, or 18.2 %, as of March 31, 2007 as compared to the same period last year. This increase was primarily a result of an increase in savings accounts and time deposits of Ch$198,167 million, or 12.7%, and an increase in domestic borrowings of Ch$92,214 million. [GRAPHIC OMITTED} SHAREHOLDERS' EQUITY We paid dividends totaling 75% of 2006 net income on February 27, 2007, capitalizing Ch$9,776 million. We are the fourth-largest private bank in Chile, based on our capital and reserves of Ch$404,976 million as of March 31, 2007. According to the Superintendency, our equity market share is 7.4% as of March 31, 2007. Our Basle Index as of March 31, 2007 was 13.2% compared to 15.1% as of March 31, 2006. -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 4 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- CONFERENCE CALL ON FIRST QUARTER 2007 RESULTS You are invited to participate in Corp Banca's conference call on Friday, May 4, 2007 to discuss the FIRST QUARTER 2007 FINANCIAL RESULTS and respond to investor questions. TIME: 9:30 am (Santiago, Chile) 9:30 am EDT (US) 14:30 pm (UK) CALL NUMBERS: U.S.A. participants please dial 1866 819 7111 Outside the US please dial +44 1452 542 301 UK participants please dial 0800 953 0329 CHAIRPERSON: Mr. Mario Chamorro, CEO You should dial in 10 minutes prior to the commencement of the call. ALTERNATIVE BACK-UP NUMBERS FOR THE CONFERENCE CALL: IN CASE OF ANY PROBLEM WITH THE ABOVE NUMBERS, PARTICIPANTS SHOULD DIAL ONE OF THE FOLLOWING NUMBERS AND QUOTE "CORP BANCA": U.S.A. participants 1866 223 0615 OUTSIDE THE US PARTICIPANTS +44 1452 586 513 UK PARTICIPANTS 0800 694 1503 For your convenience, A 24 HOUR INSTANT REPLAY facility will be available, following the completion of the conference call, UNTIL MONDAY, MAY 7, 2007. SLIDES AND AUDIO WEBCAST: There will also be a live -and then archived- webcast of the conference call with PowerPoint slides through the internet accessible through the website of Capital Link at www.capitallink.com. Please click on the button "Corp Banca First Quarter 2007 Results Webcast". Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. TO LISTEN TO THE REPLAY, please call: Instant Replay Number U.S.A.: 1866 247 4222 Access Code: 2339939# Instant Replay Number OTHER: +44 1452 550 000 Access Code: 2339939# Instant Replay Number U.K.: 0800 953 1533 Access Code: 2339939# The webcast, together with this press release, will be archived and will be accessible through Corp Banca's website at www.corpbanca.cl under "Investor Relations - Financial Information". -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 5 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA --------------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (IN MILLIONS OF CHILEAN PESOS AS OF DECEMBER 31, 2006 (EXCEPT PERCENTAGES) As of March 31, Change 2006 2007 MCh$ % (EXPRESSED IN MILLION OF CHILEAN PESOS, EXCEPT PERCENTAGE AMOUNTS) OPERATING INCOME Net interest revenue, net 22,128.3 28,063.3 5,935.0 26.8% Gains from trading activities, net 1,025.2 2,517.0 1,491.8 145.5% Fees and income from services, net 6,386.0 7,885.1 1,499.1 23.5% Foreign exchange transactions, net 597.9 (1,890.7) (2,488.6) (416.2%) Other operating loss, net (2,856.7) (2,967.5) (110.8) 3.9% GROSS MARGIN 27,280.7 33,607.2 6,326.5 23.2% Personnel salaries and expenses (9,623.0) (11,844.0) (2,221.0) 23.1% Administrative and other expenses (4,174.1) (5,655.5) (1,481.4) 35.5% Depreciation and amortization (1,294.0) (1,337.3) (43.3) 3.3% TOTAL OPERATING EXPENSES (15,091.1) (18,836.8) (3,745.7) 24.8% NET OPERATING INCOME 12,189.6 14,770.4 2,580.8 21.2% Provisions for loan losses (*) (3,864.0) (6,212.2) (2,348.2) 60.8% OPERATING INCOME 8,325.6 8,558.2 232.6 2.8% OTHER INCOME AND EXPENSES Non-operating income 508.7 75.5 (433.2) (85.2%) Non-operating expenses (742.1) (429.0) 313.1 (42.2%) Income attributable to investments in other 87.6 265.0 177.4 202.5% companies Price-level restatement 1,216.1 (804.1) (2,020.2) (166.1%) TOTAL OTHER INCOME AND EXPENSES 1,070.3 (892.6) (1,962.9) (183.4%) INCOME BEFORE INCOME TAXES 9,395.9 7,665.6 (1,730.3) (18.4%) Income taxes (1,569.9) (1,252.8) 317.1 (20.2%) NET INCOME 7,826.0 6,412.8 (1,413.2) (18.1%)
(*) Under new regulations effective since January 1, 2004 provisions for loan losses are stated net of recoveries of previously charged off loans. -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 6 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA --------------------------------------------------------------------------------
As of March 31, 2006 As of March 31, 2007 SELECTED PERFORMANCE RATIOS or for the 3 months or for the 3 months then ended then ended SOLVENCY INDICATORS Basle index 15.1% 13.2% Shareholders' equity / Total assets 11.7% 9.8% Shareholders' equity / Total liabilities 13.2% 10.9% CREDIT QUALITY RATIOS Past due loans / Total loans 0.8% 0.7% Allowances / Total loans 1.6% 1.4% Allowances / Past due loans 196.1% 218.3% Provisions for loan losses / Total loans 0.5% 0.7% Provisions for loan losses / Gross margin 14.2% 18.5% Provisions for loan losses / Net income 49.4% 96.9% PROFITABILITY RATIOS Net interest revenue / Interest-earnings assets 2.8% 3.0% (2) Net interest revenue, as adjusted (3) / 2.7% 3.0% Interest-earning Gross margin/ Total assets 3.2% 3.3% Gross margin/ Interest-earning assets (2) 3.5% 3.6% Provisions and charge-off expenses/ Total assets 0.5% 0.6% ROA (before taxes), over total assets 1.1% 0.7% ROA (before taxes), over interest-earning 1.2% 0.8% assets (2) ROE (before taxes) 9.5% 7.6% ROA, over total assets 0.9% 0.6% ROA, over interest-earning assets (2) 1.0% 0.7% ROE 7.9% 6.3% Earnings from subsidiaries / Investment in 24.4% 69.4% subsidiaries EFFICIENCY RATIOS Operating expenses / Total assets 1.8% 1.8% Operating expenses / Total loans 2.0% 2.2% Operating expenses / Gross margin 55.3% 56.0% EARNINGS Earnings per share before taxes (Chilean pesos 0.17 0.14 per share) Earnings per ADR before taxes (U.S. dollars per 1.54 1.25 ADR) Earnings per share (Chilean pesos per share) 0.14 0.11 Earnings per ADR (U.S. dollars per ADR) 1.28 1.05
(1) NEW RISK INDEX CONSIDERS TOTAL LOAN LOSS ALLOWANCES (2) INTEREST-EARNING ASSET : TOTAL LOANS AND FINANCIAL INVESTMENTS (3) INCLUDES EXCHANGE RATE EARNINGS FROM THE FORWARD CONTRACTS -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 7 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA --------------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (IN MILLIONS OF CHILEAN PESOS AS OF DECEMBER 31, 2007 (EXCEPT PERCENTAGES) As of March 31, Change 2006 2007 MCh$ % ASSETS Cash and due from banks 82,194.0 108.717.5 26,523.5 32.3% Total Loans 2,930,754.3 3,434,648.2 503,893.9 17.2% Provisions (45,986.0) (49,538.5) (3,552.5) 7.7% Loans, net 2,884,768.3 3,385,109.7 500,341.4 17.3% Loans to financial institutions 41,735.5 - (41,735.5) (100.0%) Securities trading 14,350.5 107,695.0 93,344.5 650.5% Investments 219,515.5 266,339.0 46,823.5 21.3% Financial derivative contracts 4,328.3 3,908.9 (419.4) (9.7%) Other assets 109,077.6 211,753.3 102,675.7 94.1% Fixed assets 34,800.5 33,700.0 (1,100.5) (3.2%) TOTAL ASSETS 3,390,770.2 4,117,223.4 726,453.2 21.4% LIABILITIES Current (checking) accounts 154,117.0 176,368.4 222,251.4 14.4% Time deposits and other obligations 2,224,738.0 2,710,885.1 486,147.1 21.9% Subordinated bonds 47,614.5 44,820.7 (2,793.8) (5.9%) Banking bonds 149,265.3 184,093.6 Borrowings from domestic financial 102,712.9 193,297.6 90,584.7 88.2% institutions Foreign borrowings 221,444.0 225,329.8 3,885.8 1.8% Financial derivative contracts 1,810.6 5,471.0 3,660.4 0.0% Other 85,989.9 165,568.9 79,579.0 92.5% TOTAL LIABILITIES 2,987,692.2 3,705,835.1 718,142.9 24.0% Shareholders' equity 403,078.0 441,388.3 8,310.3 2.1% TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 3,390,770.2 4,117,223.4 726,453.2 21.4%
-------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 8 Phone: 56 (2) 687 8000 [GRAPHIC OMITTED} CORP BANCA -------------------------------------------------------------------------------- CAUTION REGARDING FORWARD-LOOKING STATEMENTS THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING INFORMATION IS OFTEN, BUT NOT ALWAYS, IDENTIFIED BY THE USE OF WORDS SUCH AS "ANTICIPATE", "BELIEVE", "EXPECT", "PLAN", "INTEND", "FORECAST", "TARGET", "PROJECT", "MAY", "WILL", "SHOULD", "COULD", "ESTIMATE", "PREDICT" OR SIMILAR WORDS SUGGESTING FUTURE OUTCOMES OR LANGUAGE SUGGESTING AN OUTLOOK. FORWARD-LOOKING STATEMENTS AND INFORMATION ARE BASED ON CURRENT BELIEFS AS WELL AS ASSUMPTIONS MADE BY AND INFORMATION CURRENTLY AVAILABLE TO CORP BANCA CONCERNING ANTICIPATED FINANCIAL PERFORMANCE, BUSINESS PROSPECTS, STRATEGIES AND REGULATORY DEVELOPMENTS. ALTHOUGH MANAGEMENT CONSIDERS THESE ASSUMPTIONS TO BE REASONABLE BASED ON INFORMATION CURRENTLY AVAILABLE TO IT, THEY MAY PROVE TO BE INCORRECT. BY THEIR VERY NATURE, FORWARD-LOOKING STATEMENTS INVOLVE INHERENT RISKS AND UNCERTAINTIES, BOTH GENERAL AND SPECIFIC, AND RISKS THAT PREDICTIONS, FORECASTS, PROJECTIONS AND OTHER FORWARD-LOOKING STATEMENTS WILL NOT BE ACHIEVED. WE CAUTION READERS NOT TO PLACE UNDUE RELIANCE ON THESE STATEMENTS AS A NUMBER OF IMPORTANT FACTORS COULD CAUSE THE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE BELIEFS, PLANS, OBJECTIVES, EXPECTATIONS AND ANTICIPATIONS, ESTIMATES AND INTENTIONS EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. FURTHERMORE, THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE MADE AS OF THE DATE OF THIS PRESS RELEASE AND CORP BANCA DOES NOT UNDERTAKE ANY OBLIGATION TO UPDATE PUBLICLY OR TO REVISE ANY OF THE INCLUDED FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE EXPRESSLY QUALIFIED BY THIS CAUTIONARY STATEMENT. -------------------------------------------------------------------------------- CONTACTS: CORP BANCA PABLO MEJIA Investor Relations (56 - 2) 660-2342 pablo.mejia@corpbanca.cl INVESTOR RELATION / MEDIA Nicolas Bornozis President Capital Link, Inc. / New York (212) 661-7566 nbornozis@capitallink.com -------------------------------------------------------------------------------- www.corpbanca.cl Huerfanos 1072, Santiago, Chile 9 Phone: 56 (2) 687 8000