SANTIAGO, Chile, Jan. 15, 2019 (GLOBE NEWSWIRE) -- ITAÃš CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced that it filed today with the Chilean Financial Market Commission a Material Event Notice reporting that the Board of Directors unanimously rejects allegations that resulted in a fine by the Chilean Superintendency of Banks and Financial Institutions (Superintendencia de Bancos e Instituciones Financieras or SBIF). Nevertheless, the Board decided not to file a claim against SBIF Resolution NÂ°101 issued on January 4, 2019. The Material Event Notice is also available on the company’s corporate website at itau.cl/investor-relations.
About ItaÃº Corpbanca
ITAÃš CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) is the entity resulting from the merger of Banco ItaÃº Chile with and into Corpbanca on April 1, 2016. The current ownership structure is: 38.14% owned by ItaÃº Unibanco, 28.57% owned by the Saieh Family and 33.29% owned by minority shareholders. ItaÃº Unibanco is the sole controlling shareholder of the merged bank. Within this context and without limiting the above, ItaÃº 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 will result in a banking platform for future expansion in Latin America, specifically in Chile, Colombia, Peru, and Central America. ItaÃº Corpbanca is a commercial bank based in Chile with operations also in Colombia and Panama. In addition, ItaÃº Corpbanca has a branch in New York and a representative office in Madrid. Focused on large and medium companies and individuals, ItaÃº 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 having banking subsidiaries abroad. The merger with Banco ItaÃº Chile and the business combination of our two banks in Colombia, represent the continued success of our regionalization process.
As of November 30, 2018, according to the Chilean Superintendency of Banks, ItaÃº Corpbanca was the fifth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 10.3% market share.
As of the same date, according to the Colombian Superintendency of Finance, ItaÃº 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. As of October 31, 2018, its market share by loans reached 4.7%.
Investor Relations — ItaÃº Corpbanca
+56 (2) 2660-1701 / IR@corpbanca.cl