Itaú Corpbanca Announces First Quarter 2021 Management Discussion & Analysis Report

Rhea-AI Summary

ITAÚ CORPBANCA (NYSE: ITCB) released its Management Discussion & Analysis Report for Q1 2021, highlighting key financial results. The bank, which ranks as the fifth largest private bank in Chile, holds a 9.8% market share in customer loans. The upcoming conference call on May 3, 2021, at 11:00 A.M. Santiago time will provide further insights into the financial outcomes. With operations expanding in Latin America, the bank has a significant presence in Colombia and Peru, bolstered by mergers and acquisitions.

Positive

• Ranked as the fifth largest private bank in Chile with a 9.8% market share in customer loans.
• Expansion strategy in Latin America, including operations in Colombia and Peru.

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• None.

SANTIAGO, Chile, April 30, 2021 (GLOBE NEWSWIRE) -- ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced today its Management Discussion & Analysis Report (“MD&A Report”) for the first quarter ended March 31, 2021. For the full MD&A Report, please refer to the following link:

https://ir.itau.cl/files/doc_financials/2021/q1/Itaú-CorpBanca-1Q21-MD-A.pdf

On Monday, May 3, 2021, at 11:00 A.M. Santiago time (11:00 A.M. ET), the Company’s management team will host a conference call to discuss the financial results. The call will be hosted by Gabriel Moura, Itaú Corpbanca’s Chief Executive Officer, Rodrigo Couto, Itaú Corpbanca’s Chief Financial Officer and Claudia Labbé, Itaú Corpbanca’s Head of Investor Relations.

Conference Call Details:

Online registration: http://www.directeventreg.com/registration/event/5481859

Phone registration: +1 (800) 585-8367 or +1 (416) 621-4642

Upon registering, each participant will be provided with call details and a registrant ID used to track attendance on the conference call (Access Code: 5481859#). Reminders will also be sent to registered participants via email. Please provide this registration information to those participants that you would like to attend your conference call.

Telephone and Virtual Q&A session:

Telephone Q&A session will be available as well as written Q&A through a box on the console, where attendees can type in their questions. We will read and answer selected questions verbally.

Slides and Audio Webcast:

There will also be a live, and then archived, webcast of the conference call, available through the Company’s website. Participants in the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The webcast can be found at:

https://event.on24.com/wcc/r/3082423/1F570BAEDC37DB152811C2F4C681D99B

Webcast will be available on-demand via the same address as the live event afterwards.

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: 39.22% owned by Itaú Unibanco, 27.16% owned by the Saieh Family and 33.62% 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 bank is the fifth largest private bank in Chile and as per its mandate is the banking platform for future expansion in Latin America, specifically in Chile, Colombia and Peru. Itaú Corpbanca is a commercial bank based in Chile with additional operations in Colombia and Panama. In addition, Itaú Corpbanca has a branch in New York and a representative office in Lima. Focused on large and medium sized 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 with 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 March 31, 2021, according to the Chilean Financial Market Commission, Itaú Corpbanca was the fifth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 9.8% market share. As of January 31, 2021, according to the Colombian Superintendency of Finance, Itaú Corpbanca Colombia was the eighth largest bank in Colombia in terms of total loans and nineth in terms of total deposits, as reported under local regulatory and accounting principles. As the same date, its market share by loans reached 4.0%.

Investor Relations – Itaú Corpbanca
+56 (2) 2660-1701 / IR@itau.cl / ir.itau.cl

FAQ

What are the key highlights from Itaú Corpbanca's Q1 2021 financial results?

Itaú Corpbanca reported a 9.8% market share in customer loans, positioning it as the fifth largest private bank in Chile.

When is Itaú Corpbanca's conference call for Q1 2021 results?

The conference call is scheduled for May 3, 2021, at 11:00 A.M. Santiago time.

How does Itaú Corpbanca rank in Colombia's banking sector?

Itaú Corpbanca Colombia ranks eighth in total loans and ninth in total deposits, with a 4.0% market share by loans.

What is the significance of Itaú Corpbanca's merger with Banco Itaú Chile?

The merger, completed on April 1, 2016, established Itaú Corpbanca as a leading entity in Chile's banking sector and facilitated its regional expansion.