Itaú Corpbanca Files Material Event Notice Announcing SBIF Resolution
January 08 2019 - 9:29AM
ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP)
announced that it filed today with the Chilean Financial Market
Commission a Material Event Notice reporting that the
Superintendency of Banks and Financial Institutions
(Superintendencia de Bancos e Instituciones Financieras or SBIF) by
means of resolution No. 101, has imposed on Itaú Corpbanca a fine
for the amount of Ch$5,985,328,978 for the same three charges
for which former Corpbanca was fined. That fine was deemed
illegal by the Court of Appeals of Santiago on August 31, 2016. The
Bank is reviewing this resolution, its grounds and implications, as
well as the next steps to follow together with its internal and
external legal advisors. The Material Event Notice is also
available on the company’s corporate website at
itau.cl/investor-relations.
About Itaú Corpbanca
ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) is the
entity resulting from the merger of Banco Itaú Chile with and into
Corpbanca on April 1, 2016. The current ownership structure is:
38.14% owned by Itaú Unibanco, 28.57% owned by CorpGroup and 33.29%
owned by minority shareholders. Itaú Unibanco is the sole
controlling shareholder of the merged bank. Within this context and
without limiting the above, Itaú Unibanco and CorpGroup have signed
a shareholders’ agreement relating to corporate governance,
dividend policy (based on performance and capital metrics),
transfer of shares, liquidity and other matters. The merged bank
has become the fourth largest private bank in Chile and will result
in a banking platform for future expansion in Latin America,
specifically in Chile, Colombia, Peru, and Central America. Itaú
Corpbanca is a commercial bank based in Chile with operations also
in Colombia and Panama. In addition, Itaú Corpbanca has a branch in
New York and a representative office in Madrid. Focused on large
and medium companies and individuals, Itaú Corpbanca offers
universal banking products. In 2012, the bank initiated a
regionalization process and as of the date hereof has acquired two
banks in Colombia -Banco Corpbanca Colombia and Helm Bank-,
becoming the first Chilean bank having banking subsidiaries abroad.
The merger with Banco Itaú Chile and the business combination of
our two banks in Colombia, represent the continued success of our
regionalization process. As of November 30, 2018, according to the
Chilean Superintendency of Banks, Itaú Corpbanca was the fifth
largest private bank in Chile in terms of the overall size of its
customer loan portfolio, equivalent to 10.3% market share. As of
September 30, 2018, according to the Colombian Superintendency of
Finance, Itaú Corpbanca Colombia was the seventh largest bank in
Colombia in terms of total loans and the eighth largest bank in
Colombia in terms of total deposits, as reported under local
regulatory and accounting principles. As of the same date, its
market share by loans reached 4.7%.
Investor Relations –
Itaú Corpbanca +56 (2) 2660-1701 / IR@corpbanca.cl
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