NOTE 33
OTHER OPERATING INCOME AND EXPENSES
| a) | Other operating income is comprised of the following components: |
| For the years ended December 31, | ||||||
| 2017 | 2016 | 2015 | ||||
| MCh$ | MCh$ | MCh$ | ||||
| Income from assets received in lieu of payment | 3,330 | 1,663 | 2,455 | |||
| Income from sale of investments in other companies | - | - | 617 | |||
| Release of contingencies provisions (1) | 29,903 | - | - | |||
| Other income | ||||||
| Leases | 264 | 519 | 708 | |||
| Income from sale of property, plant and equipment (2) | 23,229 | 2,017 | 381 | |||
| Recovery of provisions for contingencies | - | - | - | |||
| Compensation from insurance companies due to damages | 1,237 | 1,530 | 435 | |||
| Other | 4,053 | 698 | 1,843 | |||
| Subtotal | 28,783 | 4,764 | 3,367 | |||
| Total | 62,016 | 6,427 | 6,439 | |||
(1) In accordance with IAS 37, the Bank recorded contingencies provisions, which during 2017 were favorable to the Bank.
(2) Corresponds to legal cession of rights made by Bansa Santander S.A. which result in an income of Ch$20.663 million, as stated in Note N°25.
b) Other operating expenses are detailed as follows:
| For the years ended December 31, | |||||
| 2017 | 2016 | 2015 | |||
| MCh$ | MCh$ | MCh$ | |||
| Allowances and expenses for assets received in lieu of payment | |||||
| Provision on assets received in lieu of payment | 3,912 | 9,246 | 7,803 | ||
| Expenses for maintenance of assets received in lieu of payment | 1,679 | 2,170 | 2,397 | ||
| Subtotal | 5,591 | 11,416 | 10,200 | ||
| Credit card expenses | 3,070 | 3,636 | 4,624 | ||
| Customer services | 2,563 | 3,734 | 3,919 | ||
| Other expenses | |||||
| Operating charge-offs | 1,607 | 6,146 | 5,359 | ||
| Life insurance and general product insurance policies | 23,475 | 18,393 | 11,225 | ||
| Additional tax on expenses paid overseas | - | 142 | 2,651 | ||
| Provisions for contingencies | - | 4,238 | 15,230 | ||
| Retail association payment | 912 | - | - | ||
| Other | 31,195 | 21,197 | 5,521 | ||
| Subtotal | 57,189 | 50,116 | 39,986 | ||
| Total | 68,413 | 68,902 | 58,729 | ||