Itaú Chile closed the third quarter of 2026 with two figures pointing in opposite directions. Its consolidated recurring profit, the measure the bank uses to gauge the business without one-off effects, reached CLP 115,356 million, 4.5% more than a year earlier and 5.9% more than in the second quarter. But its accounting result attributable to shareholders was a loss of CLP 35,537 million, due to CLP 189,690 million in transformation costs at its Colombian subsidiary, which transferred its retail banking business to Banco de Bogotá. The figures are in the Itaú Chile, Third Quarter 2026 Management Commentary, which the bank presented to analysts on Monday, November 9; that day its shares rose 1.9%, according to Diario Financiero.
View the data as a table
| Recurring net income | CLP 115,356 M |
| Accounting result | -CLP 35,537 M |
| Loan growth in Chile | 10.4% |
| RoTE in Chile | 14.3% |
Itaú Chile results: the gap between Chile and Colombia
Broken down by country, the numbers make sense. The Chilean operation posted accounting net income of CLP 110,933 million in the quarter, very close to the CLP 111,822 million of a year earlier, while Colombia lost CLP 146,470 million due to costs tied to closing the sale of its retail bank, completed on July 31. Without those effects, Colombia earned CLP 4,803 million on a recurring basis. Over nine months, consolidated accounting net income totals CLP 144,101 million, 55% less than the CLP 319,444 million of January-September 2025, and recurring profit is down 5.4%, to CLP 300,948 million.
View the data as a table
| Chile | CLP 110,933 |
| Colombia | -CLP 146,470 |
| Consolidated | -CLP 35,537 |
Itaú's loans, delinquency and profitability in Chile
In Chile, the loan book reached CLP 26.0 trillion, up 3.1% in the quarter and 10.4% over twelve months, more than the industry: commercial loans grew 10.0%, mortgages 13.4% and consumer loans 3.1%. 90-day delinquency in Chile fell to 1.8%, from 2.1% a year earlier, and the local operation's return on tangible equity (RoTE) reached 14.3%. Demand deposits grew about 8% and time deposits about 18%. With these numbers, the bank raised its 2026 loan growth projection from 6%-8% to 7%-9%.
| Itaú Chile 2026 guidance | Before | Now | Year to date (Sept.) |
|---|---|---|---|
| Loan growth | 6%-8% | 7%-9% | 10.4% |
| Financial margin with clients | 3.3%-3.5% | ~3.2% | 3.2% |
| Fee growth | 12%-14% | 11%-13% | ~10% |
| Cost of credit | 1.0%-1.1% | ~1.0% | 0.9% |
| Managerial tax rate | ~15% | ~13% | ~13% |
| RoTE Chile | 12%-13% | ~13% | 12.0% |
Source: Itaú Chile, Third Quarter 2026 Management Commentary. The tax guidance excludes the non-recurring effect of the corporate tax cut on deferred tax assets.
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See advertising optionsThe effect of the corporate tax cut on banks
Another accounting hit is on the way for the whole industry. The National Reconstruction Law, published in the Official Gazette on October 17, gradually cuts the corporate income tax from 27% to 23%. That forces banks to remeasure their deferred tax assets, which are worth less at a lower rate. Because the law was published after the September close, the effect will appear in the fourth quarter. According to Diario Financiero, Banco de Chile estimates a net charge of about CLP 68,000 million in October, Santander about CLP 45,000 million (40,000 to earnings and 5,000 to equity) and Bci about CLP 33,725 million. Itaú carried CLP 413,409 million in deferred taxes on its September balance sheet but did not report an estimate of the adjustment.
For customers, what matters in these results is solvency: Itaú closed September with a capital adequacy ratio of 16.6% and CET1 of 11.4%, both above regulatory minimums. How it compares with the rest of the industry in profits, profitability and delinquency is in our ranking of bank profits through September, and its size versus competitors in Chile's largest banks. If you are a customer or are considering its card, see the Itaú credit card profile.
Itaú in Colombia: a smaller bank after the sale
The sale of the retail bank to Banco de Bogotá, announced in December 2025 and closed on July 31, 2026, changed the size of the Colombian subsidiary. In one year, its loan book fell from CLP 4.96 trillion to CLP 4.12 trillion, its branches from 65 to 25, its employees from 2,006 to 1,255 and its ATMs from 118 to none. The bank says Colombia will focus on corporate and business banking, treasury and capital markets. 90-day delinquency there fell to 2.9% from 3.4%, partly because retail loans left the balance sheet. As a result, Chile weighs more than ever in the group: CLP 26.0 of every 30.1 trillion in loans are in the country.
| Itaú Colombia | September 2025 | June 2026 | September 2026 |
|---|---|---|---|
| Loan book | CLP 4.96 trillion | CLP 5.58 trillion | CLP 4.12 trillion |
| Branches | 65 | 65 | 25 |
| Employees | 2,006 | 1,758 | 1,255 |
| ATMs | 118 | 111 | 0 |
| 90-day delinquency | 3.4% | 3.4% | 2.9% |
Source: Itaú Chile, Third Quarter 2026 Management Commentary.
On the stock market, the year has been good for the shares: they closed September at CLP 23,000, up 22.35% in the quarter and 55.41% over twelve months, with a market capitalization of CLP 4.98 trillion (about US$5,110 million). In the second quarter the bank paid a dividend of CLP 1,187.3 per share, for a total of CLP 256,855 million. This information is journalistic and is not a recommendation to buy or sell shares.
Frequently asked questions about Itaú Chile's results
How much did Itaú Chile earn in the third quarter of 2026?
Its recurring profit was CLP 115,356 million, but its accounting result was a loss of CLP 35,537 million due to costs in Colombia.
Why did Itaú lose money in Colombia?
Because of CLP 189,690 million in transformation costs tied to transferring its retail bank to Banco de Bogotá, completed on July 31, 2026.
How much did Itaú's loans grow in Chile?
10.4% over twelve months, to CLP 26.0 trillion.
