FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February, 2010
Commission File Number 001-15266
BANK OF CHILE
(Translation of
registrant's name into English)
Ahumada 251
Santiago, Chile
(Address of
principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F___X___ Form 40-F
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether by furnishing the information
contained in this Form, the
registrant is also thereby furnishing the
information to the Commission pursuant to Rule
12g3-2(b) under the
Securities Exchange Act of 1934.
Yes____ No___X___
If "Yes" is marked, indicate below the file number assigned to
the registrant in
connection with Rule 12g3-2(b): 82- ________
BANCO DE CHILE REPORT ON FORM 6-K
Attached is an English translation of Banco de Chile and Subsidiaries Consolidated Financial Statements as of December 31, 2009 and 2008, submitted to the Superintendency of Banks and Financial Institutions and published by Banco de Chile in its website on February 19, 2010.
BANCO DE CHILE AND SUBSIDIARIES
____________
CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2008 and 2009
BANCO DE CHILE AND SUBSIDIARIES
CONTENTS
I. Consolidated Statements of Financial Position
II. Consolidated Statements of Comprehensive Income
_______________
MM$ = Millions of Chilean pesos
BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of December 31, 2009 and 2008
2009 | 2008 | |||
ASSETS | MM$ | MM$ | ||
Cash and due from banks | 727,553 | 751,223 | ||
Transactions in the course of collection | 526,051 | 807,625 | ||
Trading securities | 431,827 | 679,843 | ||
Securities purchased under agreement to resell | 79,401 | 75,519 | ||
Derivative instruments | 567,800 | 904,726 | ||
Loans and advance to banks | 448,981 | 321,992 | ||
Loans to customers, net | 12,861,911 | 13,432,716 | ||
Available for sale instruments | 1,265,662 | 1,071,438 | ||
Held to maturity instruments | | | ||
Investments in other companies | 12,606 | 13,407 | ||
Intangibles assets | 31,885 | 32,633 | ||
Fixed assets | 207,795 | 214,301 | ||
Current tax assets | | | ||
Deferred tax assets | 82,850 | 73,251 | ||
Other assets | 217,498 | 217,768 | ||
TOTAL ASSETS |
17,461,820 | 18,596,442 | ||
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BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of December 31, 2009 and 2008
______________
2009 | 2008 | |||
LIABILITIES | MM$ | MM$ | ||
Currents accounts and other demand deposits | 3,718,076 | 3,007,261 | ||
Transactions in the course of payment | 325,056 | 479,789 | ||
Securities sold under agreement to repurchase | 308,028 | 420,658 | ||
Saving accounts and time deposits | 7,427,481 | 8,472,590 | ||
Derivative instruments | 538,240 | 862,799 | ||
Borrowings from financial institutions | 1,368,226 | 1,498,549 | ||
Debt issued | 1,587,998 | 1,900,087 | ||
Other financial obligations | 176,150 | 93,708 | ||
Current tax liabilities | 39,018 | 9,053 | ||
Deferred tax liabilities | 13,932 | 32,990 | ||
Provisions | 294,608 | 292,101 | ||
Other liabilities | 272,259 | 205,104 | ||
TOTAL LIABILITIES |
16,069,072 | 17,274,689 | ||
EQUITY | ||||
Attributable to equity holders of the parent: | ||||
Capital | 1,158,752 | 1,106,491 | ||
Reserves | 118,170 | 17,853 | ||
Other comprehensive income | 6,440 | (16,660) | ||
Retained earnings: | ||||
Retained earnings from previous periods | 32,017 | 57,322 | ||
Income for the year | 257,885 | 347,437 | ||
Less: | ||||
Provision for minimum dividends | (180,519) | (190,698) | ||
Subtotal | 1,392,745 | 1,321,745 | ||
Minority interest | 3 | 8 |
TOTAL EQUITY | 1,392,748 | 1,321,753 | ||
TOTAL LIABILITIES AND | 17,461,820 | 18,596,442 | ||
EQUITY | ||||
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BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of December 31, 2009 and 2008
______________
2009 | 2008 | |||
MM$ | MM$ | |||
A. STATEMENT OF INCOME | ||||
Interest revenue | 893,007 | 1,658,078 | ||
Interest expense | (222,883) | (885,263) | ||
Net interest revenue | 670,124 | 772,815 | ||
Income from fees and commissions | 296,009 | 275,891 | ||
Expenses from fees and commissions | (53,938) | (48,520) | ||
Net fees and commissions | 242,071 | 227,371 | ||
Gains (losses) from trading and brokerage activities | (139,455) | 387,862 | ||
Foreign exchange transaction, net | 220,999 | (353,012) | ||
Other operating income | 22,739 | 69,408 | ||
Total operating revenues | 1,016,478 | 1,104,444 | ||
Provisions for loan losses | (223,441) | (156,014) | ||
OPERATING REVENUES, NET OF PROVISIONS FOR LOAN | 793,037 | 948,430 | ||
LOSSES | ||||
Staff expenses | (256,782) | (305,555) | ||
Administrative expenses | (167,214) | (176,564) | ||
Depreciation and amortization | (32,027) | (34,650) | ||
Impairments | | | ||
Other operating expenses | (40,370) | (56,080) | ||
TOTAL OPERATING EXPENSES | (496,393) | (572,849) | ||
NET OPERATING INCOME | 296,644 | 375,581 | ||
Income attributable to affiliates | 840 | 3,564 | ||
Income before income tax | 297,484 | 379,145 | ||
Income tax | (39,597) | (31,706) | ||
NET INCOME FOR THE YEAR | 257,887 | 347,439 | ||
Attributable to: | ||||
Equity holders of the parent | 257,885 | 347,437 | ||
Minority interest | 2 | 2 | ||
Net income per share attributable to equity holders of the parent: | $ | $ | ||
Basic net income | 3.14 | 4.30 | ||
Diluted net income | 3.14 | 4.30 |
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BANCO DE CHILE AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As of December 31, 2009 and 2008
______________
2009 | 2008 | |||
B. CONSOLIDATED STATEMENTS OF COMPREHENSIVE | MM$ | MM$ | ||
INCOME | ||||
NET INCOME FOR THE YEAR | 257,887 | 347,439 | ||
OTHER COMPREHENSIVE INCOME | ||||
Net unrealized gains (losses) on available for sale instruments: | ||||
Net change in unrealized gains (losses) on permanent financial | ||||
investments | 27,941 | (17,292) | ||
Cumulative translation adjustment | (91) | 4,087 | ||
Other comprehensive income before income tax | 27,850 | (13,205) | ||
Income tax related to other comprehensive income | (4,750) | 2,940 | ||
Total other comprehensive income | 23,100 | (10,265) | ||
TOTAL CONSOLIDATED COMPREHENSIVE INCOME | 280,987 | 337,174 | ||
Attributable to: | ||||
Equity holders of the parent | 280,985 | 337,172 | ||
Minority interest | 2 | 2 | ||
Comprehensive net income per share attributable to equity holders of | ||||
the parent: | $ | $ | ||
Basic net income | 3.42 | 4.18 | ||
Diluted net income | 3.42 | 4.18 |
The complete financial statements, together with their respective notes and the corresponding report of the external auditors, are available at www.bancochile.cl , as well as at Banco de Chile Offices.
Héctor Hernández G. | Fernando Cañas B. | |
Accounting Manager | Chief Executive Officer |
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Banco de Chile | ||
/s/ Fernando Cañas Berkowitz |
||
By: |
Fernando Cañas Berkowitz
President and CEO
|