EX-99.1 2 dex991.htm UNOFFICIAL ENGLISH LANGUAGE TRANSLATION OF CORPBANCA'S NOTICE Unofficial English language translation of CorpBanca's Notice

Exhibit 99.1

LOGO

CORPBANCA AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008

(millions of Chilean pesos – MCh$)

 

     Notes    31/12/2009     31/12/2008     1/1/2008  
          (MCh$)     (MCh$)     (MCh$)  

Assets

         

Cash and due from banks

   5    110,331      81,326      68,706   

Items in course of collection

   5    95,796      117,703      53,453   

Trading portfolio financial assets

   6    76,156      85,105      152,847   

Investments purchased under agreements to resell

   7    51,970      50,514      55,438   

Derivative financial instruments

   8    126,140      209,482      34,055   

Loans and receivables to banks

   9    86,220      37,671      82,708   

Loans and receivables to customers

   10    4,915,706      4,881,790      3,900,207   

Financial investments available-for-sale

   11    737,162      576,478      41,366   

Financial investments held-to-maturity

   11    —        —        —     

Investments in other companies

   12    3,583      3,699      3,699   

Intangibles

   13    13,630      12,252      13,916   

Fixed assets

   14    55,212      51,231      47,588   

Current income tax provision

   15    —        6,488      5,554   

Deferred income taxes

   15    19,841      13,354      12,064   

Other assets

   16    87,712      76,886      59,018   
                     

Total assets

      6,379,459      6,203,979      4,530,619   

Liabilities

         

Current accounts and demand deposits

   17    496,270      357,902      337,099   

Items in course of collection

   5    64,854      86,176      23,305   

Investments sold under agreements to resell

   7    465,513      351,471      100,078   

Time deposits and saving accounts

   17    3,316,045      3,350,742      2,410,769   

Derivative financial instruments

   8    114,703      195,608      34,237   

Borrowings from financial institutions

   18    362,403      492,606      358,582   

Debt issued

   19    935,219      765,172      702,426   

Other financial obligations

   19    26,853      47,394      29,850   

Current income tax provision

   15    7,831      —        —     

Deferred income taxes

   15    15,644      10,606      10,049   

Provisions

   20    53,118      33,204      30,953   

Other liabilities

   21    17,471      18,552      15,387   
                     

Total liabilities

      5,875,924      5,709,433      4,052,735   

Shareholders’ Equity:

         

Capital

      326,038      324,039      314,398   

Reserves

      25,054      (2,178   24,651   

Valuation gains (losses)

      (6,557   1,018      (2

Retained earnings:

      159,000      171,667      138,837   

Retained earnings from previous periods

      116,445      113,312      164,361   

Income for the period

      85,109      86,510      —     

Less: Accrual for mandatory dividends

      (42,554   (28,155   (25,524
                     
      503,535      494,546      477,884   

Minority Interest

      —        —        —     
                     

Total Shareholders’ Equity

      503,535      494,546      477,884   
                     

Total liabilities and shareholders’ equity

      6,379,459      6,203,979      4,530,619   


CORPBANCA AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008

(millions of Chilean pesos - MCh$)

 

     Notes    31/12/2009     31/12/2008  
          (MCh$)     (MCh$)  

Interest revenue and adjustments

   24    314,115      560,893   

Interest expense and adjustments

   24    (120,727   (346,717
               

Net interest revenue and adjustments

      193,388      214,176   

Fees and income from services

   25    53,128      54,885   

Expenses from services

   25    (9,867   (12,813
               

Fees and income from services, net

      43,261      42,052   

Trading and investment income, net

   26    4,563      54,997   

Foreign exchange gains (losses), net

   27    49,635      (42,887

Other operating revenue

   32    5,087      7,833   
               

Operating revenues

      295,934      276,171   

Provisions for loan losses

   28    (68,855   (54,996
               

Net operating revenues

      227,079      221,175   

Personnel salaries expenses

   29    (65,733   (57,716

Administration expenses

   30    (44,592   (54,651

Depreciation and amortization

   31    (6,310   (6.832

Impairment

   31    (144   (59

Other operating expenses

   32    (9,609   (6,810
               

Total operating expenses

      (126,388   (126,068
               

Net operating income

      100,691      95,107   

Income attributable to investments in other companies

   12    445      262   
               

Income before income taxes

      101,136      95,369   

Income taxes

   15    (16,027   (8,859
               

Net income

      85,109      86,510   

Attributable to:

       

Equity holders of the Bank

      85,109      86,510   

Minority interest

      —        —     

Earnings per share attributable to equity holders of the Bank (in Chilean pesos)

       

Basic earnings per share

   23    0.385      0.382   

Diluted earnings per share

   23    0.385      0.382   

 

Jaime Del Solar Honorato

Manager – Accounting

  

Mario Chamorro Carrizo

Chief Executive Officer


BOARD OF DIRECTORS:  
Chairman   Mr. Álvaro Saieh Bendeck
First Vice Chairman   Mr. Jorge Andrés Saieh Guzmán
Second Vice Chairman   Mr. Fernando Massú Tare
Directors   Mr. Fernando Aguad Dagach
  Mr. Julio Barriga Silva
  Mr. Brian O’Neill
  Mr. Segismund Schulin-Zeuthen Serrano
  Mr. Jorge Selume Zaror
  Mr. Hernán Somerville Senn
Alternate Directors   Mr. Héctor Valdéz Ruiz
  Mr. Juan Rafael Gutiérrez Ávila
SENIOR MANAGEMENT:  
Chief Executive Officer   Mr. Mario Chamorro Carrizo
Division Manager - Retail Banking   Mr. Cristóbal Prado Fernández
Division Manager - Companies   Mr. Oscar Cerda Urrutia
Division Manager - Large Companies and Corporate   Mr. José Francisco Sánchez Figueroa
Division Manager - Banco Condell   Mr. Julio Henriquez Banto
Division Manager - International and Treasury   Mr. Pedro Silva Yrarrázaval
Division Manager - Operations and Technology   Mr. Armando Ariño Joiro
Division Manager - Planning and Control   Mr. Sergio Benavente Riobó
Division Manager - Human Resources and Development   Ms. Veronica Villarroel Molina
Division Manager - Legal Services   Mr. Cristián Canales Palacios
Division Manager - Commercial Credit Risk   Mr. Luis Morales Fernández
Division Manager - Companies Credit Risk   Mr. Fernando Valdivieso Larraín
Comptroller Manager (I)   Mr. José Manuel Mena Valencia

Additional Information

The complete financial statements, with their respective notes and the corresponding independent auditor’s report, are available on the website: www.corpbanca.cl and also at the institution’s offices.