BANCO SANTANDER CHILE | CIK:0001027552 | 3

  • Filed: 3/28/2018
  • Entity registrant name: BANCO SANTANDER CHILE (CIK: 0001027552)
  • Generator: S2 Filings
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1027552/000095010318003835/0000950103-18-003835-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1027552/000095010318003835/bsac-20171231.xml
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    • ifrs-full:DisclosureOfProvisionsExplanatory

    NOTE 20

    PROVISIONS

     

    a)As of December 31, 2017 and 2016, the composition is as follows:

     

         As of December 31,
      2017   2016
      MCh$   MCh$
           
    Provisions for personnel salaries and expenses 97,576   72,592
    Provisions for mandatory dividends 168,840   142,815
    Provisions for contingent loan risk 10,079   11,399
    Provisions for contingencies associated with administrative claims and leasing contracts 27,303   65,404
    Total 303,798   292,210

     

    b)Below is the activity regarding provisions during the years ended December 31, 2017 and 2016.

     

     

    Personnel salaries

    and expenses 

    		 Mandatory Dividend Contingent loan Contingencies Total
      MCh$ MCh$ MCh$ MCh$ MM$
               
    Balances as of January 1, 2017 72,592 142,815 11,399 65,404 292,210
    Provisions established 106,687 168,840 7,341 8,645 291,513
    Application of provisions (81,703) (142,815) - (389) (224,907)
    Provisions released - - (8,661) (46,357) (55,018)
    Reclassifications - - - - -
    Other - - - - -
               
    Balances as of December 31, 2017 97,576 168,840 10,079 27,303 303,798
               
    Balances as of January 1, 2016 64,861 134,539 10,750 64,848 274,998
    Provisions established 80,298 142,815 9,789 85,492 318,394
    Application of provisions (72,567) (134,539) - (135) (207,241)
    Provisions released - - (9,140)  (84,801) (93,941)
    Reclassifications - - - - -
    Other - - - - -
               
    Balances as of December 31, 2016 72,592 142,815 11,399 65,404 292,210

      

    c)Provisions for personnel salaries and expenses:

     

      As of December 31,
      2017   2016
      MCh$   MCh$
           
    Provision for seniority compensation 17,874   10,376
    Provision for stock-based personnel benefits -    -
    Provision for performance bonds 53,947   38,510
    Provision for vacations 23,039   21,800
    Provision for other personnel benefits 2,716   1,906
    Total 97,576   72,592