Itaú Corpbanca Announces Second Quarter 2020 Management Discussion & Analysis Report

Rhea-AI Summary

Itaú Corpbanca (NYSE: ITCB) released its Management Discussion & Analysis Report for Q2 2020, highlighting its position as the fifth largest private bank in Chile, holding a 10.1% market share in customer loans. The bank also ranks seventh in Colombia based on total loans, with a 4.1% market share. A conference call to discuss these results is scheduled for August 3, 2020, at 11:00 A.M. Santiago time. The bank is focusing on regional expansion in Latin America, including operations in Colombia and Panama.

Positive

• Ranked fifth largest private bank in Chile with a 10.1% market share in customer loans.
• Ranked seventh largest bank in Colombia in terms of total loans, holding a 4.1% market share.
• Continued focus on regionalization in Latin America, enhancing growth opportunities.

Negative

• None.

SANTIAGO, Chile, July 31, 2020 (GLOBE NEWSWIRE) -- ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced today its Management Discussion & Analysis Report (“MD&A Report”) for the second quarter ended June 30, 2020.

For the full MD&A Report, please refer to the following link:

https://ir.itau.cl/files/doc_financials/2020/q2/Itaú-CorpBanca-2Q20-MD-A.pdf

On Monday, August 3, 2020, at 11:00 A.M. Santiago time (11:00 AM 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, and Claudia Labbé, Itaú Corpbanca’s Head of Investor Relations.

Conference Call Details:

Participant registration: http://www.directeventreg.com/registration/event/6775796

Upon registering, each participant will be provided with call details and a registrant ID used to track attendance on the conference call (Access Code: 6775796#). Reminders will also be sent to registered participants via email.

A telephonic replay of the conference call will be available until Monday, August 10, 2020, by dialing +1(800) 585-8367 or +1 (416) 621-4642 (Encore Dial In). Access Code: 6775796#

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/2395800/09802835D6305B0B7BE58AFAE20AC437

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 the Saieh Family 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 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 June 30, 2020, according to the Chilean Commission for the Financial Market (Comisión para el Mercado Financiero), Itaú Corpbanca was the fifth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 10.1% market share. As of April 30, 2020, according to the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia), 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. Its market share by loans reached 4.1% as of the same date.

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

 

FAQ

What are the key highlights from Itaú Corpbanca's Q2 2020 report?

Itaú Corpbanca reported being the fifth largest bank in Chile with a 10.1% loan market share and the seventh largest in Colombia with a 4.1% market share.

When is the conference call for Itaú Corpbanca's Q2 2020 financial results?

The conference call is scheduled for August 3, 2020, at 11:00 A.M. Santiago time.

What is Itaú Corpbanca's approach to regional expansion?

Itaú Corpbanca is focusing on regional expansion in Latin America, specifically in Chile, Colombia, and Peru.

What is the market share of Itaú Corpbanca in Chile?

As of June 30, 2020, Itaú Corpbanca holds a 10.1% market share in customer loans in Chile.

What positions does Itaú Corpbanca hold in Colombia's banking sector?

Itaú Corpbanca is the seventh largest bank in Colombia in total loans and the eighth in total deposits.