Net interest income grew 13.7% year-over-year to 488.6 billion CLP in 2026Q1, yet net interest margins remain constrained at 0.9% due to shifting macroeconomic conditions.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Net Interest Income | 1.81T | 1.75T | 2.16T | 1.92T | 2.27T | 1.57T | 1.32T | 1.37T | 1.32T | 1.23T | 1.23T | 1.23T | 1.26T | 1.06T | 964.14B | 877.48B | 767.63B | 677.52B | 766.27B | 513.77B | 403.93B | 381.3B | 368.65B | 238.37B | 367.44B | 192.88B | 186.03B |
| NII Growth % | -32% | -19.26% | 12.6% | -15.24% | 43.97% | 19.53% | -3.97% | 3.81% | 6.99% | 0.65% | -0.13% | -2.27% | 18.39% | 10.11% | 9.88% | 14.31% | 13.3% | -11.58% | 49.15% | 27.19% | 5.93% | 3.43% | 54.66% | -35.13% | 90.5% | 3.68% | - |
| Net Interest Margin % | 3.31% | 3.23% | 4.15% | 3.45% | 4.11% | 3.06% | 2.89% | 3.34% | 3.71% | 3.79% | 3.91% | 3.95% | 4.56% | 4.1% | 4.16% | 4.03% | 4.2% | 3.87% | 4.11% | 3.53% | 3.01% | 3.49% | 3.7% | 2.58% | 4.27% | 3.58% | 3.62% |
| Interest Income | 2.81T | 2.72T | 3.77T | 4.04T | 4.47T | 2.39T | 1.88T | 2.11T | 2T | 1.89T | 1.92T | 1.91T | 2.05T | 1.77T | 1.67T | 1.5T | 1.09T | 900.41B | 1.66T | 1.2T | 774.82B | 698.14B | 595.05B | 455.24B | 689.48B | 462.47B | 500.86B |
| Interest Expense | 1T | 969.64B | 1.61T | 2.12T | 2.2T | 814.45B | 560.01B | 742.27B | 679.64B | 652B | 690.26B | 680.17B | 788.79B | 704.37B | 708.63B | 624.21B | 324.38B | 222.88B | 893.08B | 690.46B | 370.89B | 316.84B | 226.4B | 216.88B | 322.05B | 269.58B | 314.83B |
| Loan Loss Provision | -556.06B | -587.72B | 351.7B | 204.7B | 404.12B | 18.17B | 551.76B | 331.6B | 249.77B | 221.25B | 259.26B | 246.22B | 261.57B | 221.65B | 166.42B | 146.93B | 157.65B | 241.34B | 149.37B | 56.68B | 36.1B | 22.5B | 41.91B | 36.87B | -322.05B | 37.79B | 34.92B |
| Non-Interest Income | 258.55B | 310.29B | 876.9B | 1.05T | 845.17B | 640.85B | 610.32B | 619.36B | 500.89B | 447.58B | 486.1B | 429.54B | 403.88B | 414.62B | 357.76B | 363.5B | 393.89B | 357.7B | 297.95B | 229.59B | 231.13B | 204.44B | 172.18B | 253.56B | -198.85B | 83.1B | 77.28B |
| Non-Interest Income % | 8.43% | 10.25% | 18.87% | 20.6% | 15.91% | 21.15% | 24.54% | 22.66% | 20.02% | 19.17% | 20.23% | 18.37% | 16.49% | 19.01% | 17.62% | 19.49% | 26.51% | 28.43% | 15.22% | 16.01% | 22.98% | 22.65% | 22.44% | 35.77% | -40.53% | 15.23% | 13.37% |
| Total Revenue | 3.07T | 3.03T | 4.65T | 5.09T | 5.31T | 3.03T | 2.49T | 2.73T | 2.5T | 2.33T | 2.4T | 2.34T | 2.45T | 2.18T | 2.03T | 1.87T | 1.49T | 1.26T | 1.96T | 1.43T | 1.01T | 902.58B | 767.23B | 708.8B | 490.63B | 545.57B | 578.13B |
| Revenue Growth % | -99.75% | -34.9% | -8.75% | -4.11% | 75.35% | 21.8% | -8.99% | 9.25% | 7.16% | -2.86% | 2.78% | -4.55% | 12.33% | 7.39% | 8.86% | 25.53% | 18.11% | -35.72% | 36.51% | 42.53% | 11.45% | 17.64% | 8.24% | 44.47% | -10.07% | -5.63% | - |
| Non-Interest Expense | 1.16T | 1.13T | 1.11T | 1.07T | 972.17B | 864.42B | 870.51B | 881.63B | 808.7B | 773.58B | 778.3B | 719.38B | 723.92B | 615.27B | 611.66B | 590.48B | 539.74B | 491.75B | 552.94B | 393.51B | 380.42B | 356.77B | 318.77B | 301.66B | 439.48B | 153.84B | 152.26B |
| Efficiency Ratio | 37.68% | 37.4% | 23.79% | 20.99% | 18.3% | 28.54% | 35% | 32.26% | 32.33% | 33.14% | 32.39% | 30.77% | 29.55% | 28.22% | 30.12% | 31.66% | 36.32% | 39.09% | 28.25% | 27.44% | 37.82% | 39.53% | 41.55% | 42.56% | 89.57% | 28.2% | 26.34% |
| Operating Income | 1.46T | 1.51T | 1.58T | 1.7T | 1.74T | 1.33T | 504.85B | 777.41B | 763.4B | 687.44B | 675.26B | 692.23B | 675.2B | 639.27B | 543.81B | 503.57B | 464.13B | 302.13B | 361.91B | 293.17B | 218.54B | 206.46B | 180.15B | 153.4B | 51.15B | 84.35B | 76.13B |
| Operating Margin % | 47.73% | 49.98% | 34.04% | 33.3% | 32.66% | 43.98% | 20.3% | 28.45% | 30.52% | 29.45% | 28.1% | 29.61% | 27.57% | 29.32% | 26.78% | 27% | 31.24% | 24.01% | 18.49% | 20.45% | 21.73% | 22.87% | 23.48% | 21.64% | 10.43% | 15.46% | 13.17% |
| Operating Income Growth % | - | -4.41% | -6.72% | -2.24% | 30.23% | 163.9% | -35.06% | 1.83% | 11.05% | 1.8% | -2.45% | 2.52% | 5.62% | 17.55% | 7.99% | 8.5% | 53.62% | -16.52% | 23.45% | 34.15% | 5.85% | 14.61% | 17.44% | 199.88% | -39.36% | 10.8% | - |
| Pretax Income | 1.46T | 1.51T | 1.58T | 1.7T | 1.74T | 1.33T | 504.85B | 777.41B | 763.4B | 687.44B | 675.26B | 692.23B | 675.2B | 639.27B | 543.81B | 503.57B | 464.13B | 302.13B | 361.91B | 293.17B | 218.54B | 206.46B | 180.15B | 153.4B | 51.15B | 84.35B | 76.13B |
| Pretax Margin % | 47.72% | 49.98% | 34.04% | 33.3% | 32.66% | 43.98% | 20.3% | 28.45% | 30.52% | 29.45% | 28.1% | 29.61% | 27.57% | 29.32% | 26.78% | 27% | 31.24% | 24.01% | 18.49% | 20.45% | 21.73% | 22.87% | 23.48% | 21.64% | 10.43% | 15.46% | 13.17% |
| Income Tax | 322.14B | 320.12B | 333.6B | 322.11B | 289.21B | 275.97B | 103.22B | 173.66B | 159.77B | 115.36B | 100.21B | 82.32B | 79.69B | 89.08B | 63.93B | 65.43B | 46.51B | 40.39B | 35.31B | 29.32B | 24.01B | 21.85B | 19.34B | 14.76B | -1.44B | -2.62B | 1.14B |
| Effective Tax Rate % | 22.01% | 21.17% | 21.09% | 18.99% | 16.67% | 20.71% | 20.45% | 22.34% | 20.93% | 16.78% | 14.84% | 11.89% | 11.8% | 13.94% | 11.76% | 12.99% | 10.02% | 13.37% | 9.76% | 10% | 10.99% | 10.58% | 10.73% | 9.62% | -2.82% | -3.1% | 1.5% |
| Net Income | 1.14T | 1.19T | 1.25T | 1.37T | 1.45T | 1.06T | 401.63B | 603.74B | 603.63B | 572.08B | 575.05B | 609.9B | 595.52B | 550.19B | 479.88B | 438.14B | 417.61B | 261.74B | 365.05B | 263.85B | 194.54B | 184.61B | 160.82B | 138.63B | 52.59B | 86.97B | 74.99B |
| Net Margin % | 37.22% | 39.4% | 26.86% | 26.97% | 27.22% | 34.87% | 16.15% | 22.09% | 24.13% | 24.51% | 23.93% | 26.09% | 24.31% | 25.23% | 23.63% | 23.49% | 28.11% | 20.8% | 18.65% | 18.4% | 19.34% | 20.45% | 20.96% | 19.56% | 10.72% | 15.94% | 12.97% |
| Net Income Growth % | -10.77% | -4.5% | -9.14% | -4.96% | 36.87% | 163.01% | -33.48% | 0.02% | 5.52% | -0.52% | -5.71% | 2.42% | 8.24% | 14.65% | 9.53% | 4.92% | 59.55% | -28.3% | 38.35% | 35.63% | 5.37% | 14.8% | 16% | 163.59% | -39.53% | 15.98% | - |
| Net Income (Continuing) | 1.14T | 1.19T | 1.25T | 1.37T | 1.45T | 1.06T | 401.63B | 603.75B | 603.63B | 572.08B | 575.05B | 609.9B | 595.52B | 550.19B | 479.88B | 438.14B | 417.62B | 261.75B | 326.6B | 263.85B | 194.54B | 184.61B | 160.82B | 138.63B | 52.59B | 86.97B | 74.99B |
| EPS (Diluted) | 2260.79 | 2360.00 | 2390.00 | 2720.00 | 2862.00 | 1570.00 | 796.00 | 1174.00 | 1178.00 | 1132.00 | 1078.00 | 1200.00 | 1162.00 | 960.00 | 962.00 | 874.00 | 860.00 | 267964.00 | 760.00 | 592.00 | 498.00 | 484.00 | 422.00 | 350.00 | 140.00 | 310.00 | 290.00 |
| EPS Growth % | -7.83% | -1.26% | -12.13% | -4.96% | 82.29% | 97.24% | -32.2% | -0.34% | 4.06% | 5.01% | -10.17% | 3.27% | 21.04% | -0.21% | 10.07% | 1.63% | -99.68% | 35158.42% | 28.38% | 18.88% | 2.89% | 14.69% | 20.57% | 150% | -54.84% | 6.9% | - |
| EPS (Basic) | - | 2360.00 | 2390.00 | 2720.00 | 2862.00 | 1570.00 | 796.00 | 1174.00 | 1178.00 | 1132.00 | 1078.00 | 1200.00 | 1162.00 | 960.00 | 962.00 | 874.00 | 860.00 | 267964.00 | 760.00 | 592.00 | 498.00 | 484.00 | 422.00 | 350.00 | 140.00 | 310.00 | 290.00 |
| Diluted Shares Outstanding | 505.09M | 505.2M | 505.09M | 505.09M | 505.09M | 505.09M | 505.09M | 505.09M | 505.09M | 505.09M | 512.31M | 508.35M | 512.31M | 518.24M | 498.25M | 501.12M | 484.78M | 490.79M | 480.06M | 441.87M | 427.23M | 425.48M | 416.55M | 427.23M | 427.23M | 281.97M | 281.97M |
Inflation-linked asset volatility
According to quarterly financial data, Banco de Chile's net interest income reached 488.6 billion CLP in 2026Q1, reflecting a 13.7% year-over-year growth rate that suggests the bank is successfully navigating the normalization of inflation-indexed returns within its core loan portfolio and institutional deposit base.
The recent rebound in NII suggests that the bank's structural funding advantage, characterized by a high proportion of non-interest-bearing deposits, remains a potent buffer against rate volatility. Investors should monitor whether this growth trajectory persists as the Chilean central bank adjusts its policy stance, potentially impacting the repricing dynamics of the bank's wholesale loan book.
Based on reported figures, the net interest margin has remained largely stagnant at 0.9% in 2026Q1, a level that underscores the persistent pressure on asset yields as the bank manages the transition away from the high-inflation environment that previously bolstered its UF-denominated asset returns.
The stability of the NIM at these lower levels suggests that the bank is prioritizing asset quality over aggressive yield expansion in a cooling inflationary climate. This margin profile warrants further investigation into whether the bank can maintain its historical premium over regional peers if the current disinflationary trend continues to compress the spread on inflation-linked assets.
As reported in financial statements, the efficiency ratio stood at 28.7% in 2026Q1, indicating that management continues to maintain a disciplined cost structure despite the inherent volatility in revenue streams driven by the bank's unique exposure to inflation-indexed units and treasury market fluctuations.
The bank's ability to keep the efficiency ratio below 30% suggests a high degree of operational leverage, likely supported by its extensive branch network and established digital banking infrastructure. However, investors should monitor whether future regulatory compliance costs or investments in digital transformation begin to exert upward pressure on this key performance metric.
Based on the provided income statement data, the provision expense for loan losses was 121.8 billion CLP in 2026Q1, a figure that appears to reflect a proactive approach to credit risk management in anticipation of potential softening in the domestic Chilean labor market.
The fluctuation in provision expenses suggests that the bank is actively adjusting its credit reserves to align with the evolving macroeconomic environment, particularly within its retail segment. This conservative provisioning strategy may indicate that management is prioritizing balance sheet strength over short-term earnings maximization, which could serve as a defensive buffer during periods of economic uncertainty.
Quick answers to the most common questions about buying BCH stock.
Banco de Chile (BCH) is profitable, generating $1.19T in net income for the fiscal year ending 2025 with a net profit margin of 39.4%.
Banco de Chile (BCH) reported an operating income of $1.51T, resulting in an operating profit margin of 50.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Banco de Chile (BCH) generated $2.64T in gross profit for the year, representing a gross profit margin of 87.4%. This demonstrates the company's core pricing power and production efficiency.