Annual General Shareholders Meeting Manuel Olivares Chief Executive Officer March 19 th , 2019 Itaú Corpbanca
Agenda 1. About 2018 2. Perspectives for 2019 Itaú Corpbanca
Macroeconomic Backdrop Forecast 2 Actual 2012 2013 2014 2015 2016 2017 2018 3.3% 4.0% GDP 6 – 8% 10.2% Loan Growth 5.3% 4.0% 4.0% 2.3% 2.5% 2.6% Inflation 1.8% GDP Growth 1.5% 1.3% 2.5% 2.75% Interest Rate 12.3% 11.0% 10.7% 10.2% 10.2% 2.5% 2.7% GDP 5.6% Loan Growth 1 4.5% 8 – 10% 5.5% Loan Growth 3.3% 3.2% Inflation 4.6% 4.4% 3.0% 2.7% 2.6% 2.3% Inflation 1.5% 4.0% 4.25% Interest Rate 3 1 – Pro Forma figures from 2015 to 2018 adjusted for the inclusion of loans from CMR and Walmart credit portfolios 2 – Itaú CorpBanca’s forecast for 2018 on March 1 st 2018. 3 3 – End of period. Source: Central Bank of Chile and Itaú CorpBanca’s estimates.
2018 Forecast Realized Expected 6.0% 8.0% 5.5% Loan Growth 32.5% 33.3% + 89 bp Increase Retail in Loan Mix 1 Dic-17 Dic-18 0.7% 0.8% Cost of Credit Risk 2 0.8% 2.6% 2.2% Expenses in line with Inflation 3 Ch$ 0 Ch$ 7.6 bn Break even in Colombia 4 1 – Retail loans refers to Mortgage and Consumer loan ; 2 – Net provision for credit & counterparty risks. ; 3 – Adjusted Non-Interest Expenses. ; 4 – Managerial Net Income Attributable 7 to Shareholders.
Managerial Return on Tangible Equity Itaú CorpBanca Itaú CorpBanca Chile 13.3% 11.0% 1.0% 6.2% 5.8% 0.8% 3.4% 0.4% 0.4% 2.2% 0.2% 0.1% 2016 2017 2018 2016 2017 2018 8
Forecast: Break-even in Colombia Results in Colombia Ch$ 7.6 bn Ch$ 0 Realized Managerial Net Income NIM In Ch$ Billion 4.4% 4.0% 3.7% 3.3% 40.9 2015 2016 2017 2018 Cost of Credit 2.9% 2.7% 2.3% 2.0% 7.6 2015 2016 2017 2018 Efficiency Ratio 62.4% 60.1% (21.5) 56.5% 45.2% (39.6) 2015 2016 2017 2018 2015 2016 2017 2018 14
Translating strategy into action Focus on Client Satisfaction People Digital Transformation Salas digitales Implementation of Itaú Unibanco’s Implementation of Itaú Unibanco’s management model for the Retail meritocracy model Bank 150+ releases and new functionalities Instrumentalization of relationship Creation of talent attraction and managers with cockpits and tools development programmes Advanced work methodologies and tools Dress code flexibility for employees Development and reinforcement Back-end to front-end digitalization of of a client-centric culture opening of digital accounts process 15
Agenda 1. About 2018 2. Perspectives for 2019 Itaú Corpbanca
2019 Macroeconomic Outlook 2016 2017 2018 2019 2016 2017 2018 2019 GDP 4.0% 3.3% 3.2% 2.7% 2.1% 1.5% 1.4% 1.3% 12.2% 8-10% 10.2% 8-10% 6.1% Loan Growth 5.6% 5.8% 4.5% 5.8% 2.7% 2.6% 2.6% Inflation 4.1% 2.3% 3.0% 3.2% 7.50 3.50% 3.25% Interest Rate 2.75% 2.50% 4.75% 4.50% 4.25% 17
Perspectives for 2019 Expected 8.0% 10.0% Loan Growth Loan Mix 1 Continued increasing retail in loan mix 0.7% 0.8% Cost of Credit Risk 2 Adjusted Non-Interest Expenses In line with inflation Results from Colombia 3 Continued recovery in profitability 1 – Retail loans refers to Mortgage and Consumer loan. ; 2 – Net provision for credit & counterparty risks. ; 3 – Managerial Net Income Attributable to Shareholders. 18
Key Strategic Drivers 2019 1 4 Continuously increase the efficiency of our Expand our presence and client base in operations all business segments Drill down of the full cost allocation model to Growth Efficiency Special focus on growing our Retail Bank product level Further increase transactionality and Continued focus and discipline in identifying relationship within our client base cost saving opportunities throughout the institution 5 2 Culture of innovation and transformation Efficiently managing capital allocation Efficiency and improvement of user through adequate cost of equity Digital Transformation Capital Generation experience Value creation and RAROC metrics and Seamless integration from back-office to tools as a driver throughout the organization front-office 3 6 • Continued and sustainable rebound in • Segmentation model with well defined results identity and value proposition Client Centricity Colombia • Resume expansion in business volumes • Development of products and a “service culture” focused on client satisfaction and • Advance with the implementation of retail long-term relationships and wholesale strategies 19
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