Itaú CorpBanca Institutional Presentation

Transcription

1 Itaú CorpBanca Institutional Presentation January 2017

2 Agenda 1. Itaú Unibanco 2. Itaú CorpBanca 3. CorpBanca Colombia

3 Itaú Unibanco At a Glance Leading position in Brazil through key competitive strengths Financial Highlights and Ratios As of Septiembre 30, 2016 US$ 65.2 billion market cap 1 95,984 employees in Brazil and abroad Highlights 5,119 branches and CSBs in Brazil and abroad Total Total Assets Assets BRL 1,399.1 Bln 45,859 ATMs in Brazil and abroad Total Total Loans¹ Loans(1) BRL Bln Brazilian multinational bank Stockholders Equity Stockholders Equity BRL Bln Major provider of finance for the expansion of Brazilian companies Recurring NetIncome Income ²(2) Recurring Net BRL 23.8 Bln Recurring Net Recurring NetIncome Income 3Q16 3Q16³(3) BRL 5.6 Bln Long Term Term Foreign Foreign Currency Long Currency (Itaú Unibanco Holding) Moody s: Ba3 Fitch: BB+ Among the best talent pool in the Brazilian financial system Global Footprint of Brazil s Top Private Sector Bank September 30, 2016 Financial Ratios Recurring ROE 2015 Recurring 2015⁴(4) 23.9% (5) Recurring ROE Recurring ROE 3Q16 3Q16⁵ 19.9% (6) Efficiency Efficiency Ratio Ratio 4Q15 4Q15⁶ 46.3% (6) Efficiency Efficiency Ratio Ratio 3Q16 3Q16⁶ 48.6% BIS III CET I Ratio⁷ 15.7% (1) Includes endorsements and sureties. (2) Represents Net Income adjusted for certain non recurring events described, please refer to Historical Series Spreadsheet. (3) Represents Net Income adjusted for certain non recurring events described in the 2Q16 MD&A Executive Summary. (4) Calculated using Recurring Net Income / Average Equity. For annualized calculation method, please refer to Historical Series Spreadsheet. (5) Calculated using Recurring Net Income / Average Equity. For annualized calculation method, please refer to the 2Q16 MD&A Executive Summary. (6) See Efficiency Ratio slides for criteria. (7) This ratio is our current number which considers the phase in regulation. See Capital Ratios slide for more details. 3 Source: Bloomberg.

4 Itaú Unibanco Universal Bank¹ Approximately 32.1 million credit card accounts and 26.0 million debit card accounts; Leader in Brazilian credit card market, extensive number of joint ventures and partnerships with retailers branches and client service branches and ATMs in Brazil; Premier banking brand in Brazil; Strategically positioned for growth in mortgage market (partnerships with Lopes). Total portfolio for individuals of R$ 15,9 billion; Lease and finance through over 12 thousand dealers; In the 3Q16 the new Vehicle Concessions to individuals reached R$ 2,140 million. One of the largest players based on direct premiums; Association with Porto Seguro for auto and residential insurance; The result in 3Q16 totaled R$ 683 million. Small and Medium Enterprises with annual sales up to R$ 30 million; Itaú Unibanco Risk-based pricing model Leader in performance in Brazil Intensive use of technology Large distribution network Diverse lines of products and services Full coverage of corporate clients with annual sales above R$ 200 million; Leadership in IB products with top positions in major league tables Treasury operations for the conglomerate Purpose: to be recognized as the bank expert in Latin America Presence in Latin America: Mexico, Colombia, Peru, Paraguay, Chile, Argentina, Uruguay. Corporate clients with annual sales from R$ 30 million to R$ 200 million. Total assets under administration of approximately R$ 888 billion; Leader in Private banking services in Latin America. 4 1 As od Septiember 30, 2016.

5 Itaú Unibanco Real Footprint in Latin America September 2016 México CIB Employees: 31 Colombia¹ Panamá Branches and CSBs : 170 ATMs: 180 Employees: 3,750 Peru Representative office IBBA Brasil Branches and CSBs: 4,574 ATMs: 44,631 Employees : 81,737 CIB Minorista Chile Sucursales: 225 ATMs: 501 Employees : 6,182 Argentina Branches and CSBs : 87 ATMs: 178 Employees : 1,670 Uruguay Paraguay Branches and CSBs : 24 Puntos de Servicio OCA : 36 ATMs: 58 Employees : 1,144 Branches and CSBs : 39 Non-Bank Correspondents : 48 ATMs: 311 Employees : (1) Considers employees and branches from Panama.

6 Total Assets 1 Evolution and Breakdown R$ billion 1, , , % Cash, Cash Equivalents and Short-term Interbank Deposits % Securities % Loans Q % 1.9% Other Permanent Securities Breakdown Loans Breakdown Corporate Corporate 18.7% 7.4% 5.1% Domestic Government Bonds 30.9% Pension Plans Fund Quotas Corporate Securities Derivatives International Government Bonds 24.8% 8.5% 8.0% 31.0% SME's SMEs Vehicles Vehicles Personal Loans Credit Cards Latin America 37.9% 9.8% 4.9% 10.2% 2.8% Mortgage (includes individuals and Mortgage (includes individuals and companies) companies) Payroll Loans to Individuals individuals + + BMG BMG 7 (1) Net of Allowance for Loan Losses; (2) Gross Loans, including endorsements and sureties

7 Funding Evolution and Breakdown Funding from Clients¹ 1,265 1,309 1,342 1, ,412 1,456 1, Without CorpBanca With CorpBanca ,550 1,629 1,052 In R$ millions Demand and savings Deposits Time Deposits + + Debentures + Funds From from Bills Assets Assets Under under Administration administration + Technical Provisions for for Insurance Insurance, Pension Plan and Premium Bonds Pension Plan and Premium Bonds Total Funds funds from Clients + Interbank Deposits Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 (1) Includes institutional clients in the proportion of each type of product invested by them. Ratio between Loan Portfolio and Funding % 93.4% 94.3% 95.6% 90.3% 89.0% 85.5% 86.5% 88.8% 79.7% 81.1% 82.0% 76.5% 78.3% 74.4% 74.4% 76.2% 75.4% % Funding (Maturity Breakdown) % % 39.3% Over Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Funding from Clients (R$ billion) Reserve requirements and Cash Loan Portfolio (R$ billion) (3) Loan Portfolio/ Funding (4) Loan Portfolio/ Gross Funding (3) % 8 (2) Includes demand, savings and time deposits plus debentures, mortgage-backed notes, onlending, borrowings, funds from acceptance and issuance of securities abroad, net of reserve requirements and available funds; (3) The loan portfolio balance does not include endorsements and sureties. (4) Gross funding, ex-deductions of reserve requirements and cash and cash equivalents

8 Recurring ROE / Recurring ROA Evolution Consolidated ROE / ROA 24.7% 24.9% 24.5% 24.8% 24.1% 22.1% 19.6% 20.6% 19.9% 1.8% 1.8% 1.7% 1.8% 1.8% 1.6% 1.4% 1.6% 1.6% 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 Annualized Recurring Return on Average on Average Equity Equity (quarterly) (quarterly) Annualized Return Recurring on Average Return Assets on Average (quarterly) Assets (quarterly) Brazil ROE ¹ 25.5% 25.5% 25.4% 25.1% 24.2% 22.8% 20.7% 21.1% 20.8% 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 Annualized Recurring Return on Average on Average Equity Equity (quarterly) (quarterly) 9 (1) Includes units abroad ex-latin America.

9 Efficiency and Risk-Adjusted Efficiency Ratios Evolution Efficiency Ratio - Consolidated Quarterly Efficiency Ratio(%) Quarterly Risk-Adjusted Efficiency Ratio (%) Trailing 12-month Efficiency Ratio(%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) Efficiency Ratio without extraordinary items of personnel expenses Efficiency Ratio Brazil¹ Quarterly Efficiency Ratio(%) Trailing 12-month Efficiency Ratio(%) Quarterly Risk-Adjusted Efficiency Ratio (%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) 10 (1) Includes units abroad ex-latin America.

10 Information Technology Evolution Total number of transactions Standard Channels 1 Electronic Remote Channels2 Share of transactions per channel Branches ATM Telephone Internet Mobile 11 (1) Standard channels: Branches, ATM, Telephone. (2) Electronic Remote Channels: Mobile and Internet

11 Agenda 1. Itaú Unibanco 2. Itaú CorpBanca 3. CorpBanca Colombia

12 Itaú CorpBanca Highlights We are the 4th and 5th largest private bank in Chile and Colombia, respectively Regional footprint & main indicators November 30, 2016 ² Itaú CorpBanca 2016 ¹ ² CorpBanca Panamá Assets: US$ 0.81 BN Headcount: 51 CorpBanca Colombia Assets: US$ 10.2 BN Headcount: 3,670 Branches: 174 US$ 44BN Assets 4º 5º 3 Itaú CorpBanca Chile Assets: US$ 34.0 BN Headcount: 6,005 Branches: 224 US$ 32BN Loans Headcount # 398 Branches # 4º 5º 3 13 (1) Consolidated information as of Noviember 30, 2016; 2 Figures were converted at an exchange rate of CLP/USD; 3 For assets and loans, rankings consider Grupo Aval as the combination of Banco de Bogotá, Occidente, Popular, AV Villas Source: SBIF

13 Itaú Unibanco Bradesco Santander BBVA BTG Pactual Citibank Scotiabank Grupo Aval Banorte Itaú CorpBanca BBVA Santander Citibank Itaú LatAm Scotiabank Grupo Aval Banorte Banco de Chile Itaú CorpBanca BCI Itaú CorpBanca Relevance in LatAm and South America Itaú CorpBanca is currently the third largest bank in Chile. The merger positions Itaú Corpbanca and Itaú LatAm as the fourth largest bank within South (ex-brazil) in terms of Assets Largest banks in Latin America 1 Largest banks in South America (ex-brazil) 5 US$ BN 1 Itaú Unibanco 2 2 Bradesco 3 3 Santander 44. BBVA 5 BTG Pactual 68. Citibank 7 Scotiabank US$ BN Citibank 55. Scotiabank 6 7 BBVA Santander Itaú LatAm 6 Grupo Aval Banorte Grupo Aval 50 8 Banco de Chile Banorte 11 Itaú CorpBanca Itaú CorpBanca 4 BCI Relevace within Itaú Unibanco 7 Breakdown by Country 7 US$ BN Loans 8 Total LatAm Loans : US$43 BN 25% Itaú AR 5% Itaú Corp CL Itaú Corp COL 21% 65% 86% Itaú PY 4% Itaú LatAm Brazil and other Countries Itaú UY 5% 14 1 Information as of november 30, Includes Brazil, México, Argentina, Perú, Chile and Colombia; 2 Includes Argentina, Brazil, Paraguay, Uruguay, Chile and Colombia; 3 In Septi. 30, 2016 Bradesco started including HSBC Brazil in their reports; 4 Includes Chile and Colombia (Itaú CorpBanca Chile with ~US$35MMM in assets); 5 Informaction as of Sept. 30, Iincludes Argentina, México, Perú, Chile and Colombia; 6 Includes Argentina, Paraguay, Uruguay, Chile and Colombia; 7 Information as of Septi. 30, 2016; 8 Considering a conversion rate of BRL per 1.00 USD, a Sep/30/2016. Source: Central Banks, local regulators, companies filings, Itaú CorpBanca analysis

14 US$BN Introduction Shareholders Structure after Merger Shareholders - % Total share capital December 31, th largest Market Cap among Peers January 12, 2017 ITAÚ CORPBANCA Total shares: 512,406,760,091(100%) Itaú Unibanco Saieh Family 1 IFC Others 35.71% 31.00% 3.32% 29.97% 6.28 ADRs holders and Foreign investors 14.66% Securities Brokerage 6.34% Santo Domingo Group 1.92% Insurance Companies 1.39% AFPs 0.26% Other minority shareholders 5.40% Includes 52,125,023 shares owned by Saga that are under custody. PEER-A PEER-B PEER-C ITAUCORP PEER-D 15 Note: Figures were converted at an exchange rate of Ch$ US$1 (as of August 31, 2016). Source: Itaú CorpBanca & Santiago Stock Exchange.

15 Introduction Senior Management Structure BOARD OF DIRECTORS Audit Committee Itaú CorpBanca Chief Executive Officer Milton Maluhy Comptroller Marcio Palestra 1/ Wholesale Retail Treasury Marketing & Products CRO CFO IT & Operations Legal & Compliance Human Resources Corpbanca Colombia Christian Tauber Julián Acuña Pedro Silva Rogério Braga Mauricio Baeza Gabriel Moura Luis Rodrigues Cristián Toro Marcela Jiménez Álvaro Pimentel 16 (1) Interim since January 2017 Source: Itaú CorpBanca. Date: November 2, 2016

16 Ratings Improvements will contribute to lowering the funding costs International Ratings 2016 Financial Capacity Moody's S&P Rating Scale Rating Scale LT ST LT ST Timeline S&P Extremely strong Aaa AAA A+ A+ A+ Very strong Aa1 Aa2 Aa3 P-1 AA+ AA AA- A-1+ A A- A- A- A A A Strong A1 A+ A2 A A-1 BBB+ BBB+ BBB+ BBB+ Adequate A3 Baa1 Baa2 Baa3 P-2 P-3 A- A-2 BBB+ +3n +1n BBB A-3 BBB- BBB BBB 17 Source: Itaú CorpBanca, Moody s, S&P

17 Itaú CorpBanca Ratio BIS ¹ Subordinated Bonds Other Target Capital Target Ratio Capital (greater Ratio of): (greater of): 120% 120% Minimum Regulatory Capital Capital (Chile): (Chile): 12.0% 12.0% Three Three largest Largest Private Private Banks Banks 2 (Chile): 2 (Chile): 13.3% 13.3% 1 BIS ratio = Patrimonio efectivo / RWA, according to SBIF BIS I definitions. 2 Cas of August 31, 2016 (last available information at the SBIF). 18 Source: Itaú CorpBanca.

18 Agenda 1. Itaú Unibanco 2. Itaú CorpBanca 3. CorpBanca Colombia

19 CorpBanca Colombia Highlights Bank #6 in Colombia, with over 570 thousand clients and presence in 23 cities locally and one in Panama. Regional footprint & main indicators Dec CorpBanca Colombia MS: 5,7% #Player: 6 TIER I: 9,68% Total Capital Ratio: 13,14% NPLs: 2,9% Net Inc. FY15: USD ~ 106,3 MM Net Inc. FY16: USD ~ -50,3 MM Gross Loans USD MM CorpBanca Colombia Deposits USD MM 2 7,141 6,361 # Clients (thousand) 570 # Head Count 3 3,727 # Branches 174 # ATMs Source: CorpBanca Colombia, Exchange rate of COP 3000,71 per 1 USD 1: Numbers as of December : Deposits include Checking and Savings accounts and Term Deposits 3: HeadCount includes Panamá

20 Itaú CorpBanca Transaction in Colombia CorpBanca Colombia to acquire assets and liabilities of Itaú BBA Colombia Contemplated Structure in Colombia Itaú CorpBanca CorpGroup Helm Corporation Other Minorities 66.28% 12.36% 20.82% 0.54% Postponement of the date for Itaú CorpBanca to purchase the 12.36% stake of CorpGroup in CorpBanca Colombia: The postponement date is until January 28, 2022 The purchase price has not changed (US$ per share 1 ) Itaú CorpBanca will carry out commercially reasonable efforts to register an listing CorpBanca Colombia in the Colombian Stock Exchange (BVC) The rational is to create a liquidity mechanism for minorities to sell the stake in the company CorpBanca Colombia will acquire Itaú BBA Colombia assets and liabilities at their book value 2 3 CorpBanca Colombia Financial Group in Colombia Transaction pending + Itaú BBA Colombia (asset and liabilities) Helm Fiduciaria CorpBanca Colombia 94.0% 94.5% 95.0% 100% CorpBanca Investment Trust Helm Comisionista de Bolsa Helm Bank Panamá Helm Corredor de Seguros 21 1 This amount accrues interest from (and including) August 4, 2015 until (but excluding) the payment date at an annual interest rate equal to Libor plus 2.7%. 2 Pending on regulatory approvals in Colombia. 3 Assets book value is COP 263 BN (approximately US$ 89.5 million) and liabilities book value is COP 92.8 BN (approximately US$31.6 million). Figures in dollars where converted at an exchange rate of COP2, /US$1 as of January 13, 2017.

21 Members CorpBanca Colombia Board of Directors President Milton Maluhy Filho Miembros de Junta Rogeiro Carvalho Braga 1/ Gabriel Amado de Moura 1/ Juan Echeverría González Carmiña Ferro Iriarte Rafael Pardo Soto Roberto Brigard Holguín* Luis Fernando Martinez Lema* Mónica Aparicio Smith* (*) Independent Board Members 1/ Pending approval by Superintendencia Financiera 22 Source: CorpBanca Colombia. November 1, 2016

22 CorpBanca Colombia Senior Management Structure Board of Directors Audit Committee CorpBanca Chief Executive Officer Compliance Carlos Díaz Álvaro Pimentel 1/ Public Affairs Carolina Velasco Ctry Controller Juan I. Castro Wholesale Retail Treasury IT CRO CFO Operations Legal & Compliance Human Resources Jorge Villa 2/ Claudia P. Vélez Derek Sassoon Lilián Rocío Barrios Edson Silva María Cristina Vandame Liliana Suárez Dolly Murcia Andrea Arizala 23 1/ Since January 1, Pending posession before SFC 2/ In process of joinig the Bank Source: CorpBanca Colombia:

23 CorpBanca Colombia Profitability Ratios Decreasing Net Interest Margins, higher LLP and higher costs of liquidity explain the lower profitability of CorpBanca Colombia compared to its peers. Net Income 2016 (USD millions) 792,7 446,3 44,1 106,9 277,8 15,1 138,6 103,4 24,8 12,1-50,3 Interes Income from Loans and Leases Interest Expense Net Commissions and fees Derivatives and portfolio income Net LLP Technology Amortization Administrative expenses Personnel expenses Other income Taxes Net Income Annual Growth +18% +62% +4% -16% +68% +100% +8% +2% +269% -125% -147% ROE and ROA (%) Dic ROE ROA Dec-14(*) Dec-15 Mar-16 Jun-16 Sep Total Banks 24 Source: CorpBanca Colombia, Exchange rate of COP 3000,71 per 1 USD 1. NIM Loans Interest Deposits Interest expenses / Gross Loans includes the cost of bonds rediscounted loans and foreign currency loans. Annualized monthly NIM months net Income over 12 months average of equity and assets for Dec.14 Colgaap Accounting standards 3. Information from november 2016

24 Post-Integration Colombia Colombia Pre-Integration Chile Chile Post-Integration Pre-Integration Post-Integration Pre-Integration CorpBanca Colombia Core Banking Legacy System Itaú CorpBanca s management, after a throughout evaluation, elected Helm Bank s Phoenix platform as the core banking legacy system for Itaú CorpBanca s operation in Colombia. This strategy will benefit from reduced implementation time and risk when compared to the previous existing strategy that was based on synergy benefits that do no longer apply in the current scenario. CorpBanca legacy strategy Itaú CorpBanca legacy strategy CorpBanca Itaú Chile CorpBanca IBS Altamira IBS Altamira Benefits from synergies with Itaú Unibanco CorpBanca Colombia (Former Santander Colombia) Helm Bank CorpBanca Colombia (Former Santander Colombia) Helm Bank Altair Phoenix Altair Phoenix IBS Phoenix Rationale: Scale synergies, know-how synergies Rationale: Reduced implementation time and risk 25

25 CorpBanca Colombia Loan Provisions During 4Q 2016 the Bank made relevant LLPs, ending 2016 with a Ratio of ALL / Gross Loans above the average of Total Banks LLP Expense / Gross Loans (%) CorpBanca Total Banks Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 1 Allowance for Loan Losses / Gross Loans (%) CorpBanca Total Banks Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec Source: Superintendencia & CorpBanca Colombia,, 1: Information from system as of November 2016

26 CorpBanca Colombia Risk Ratios Higher past-due Loans and B,C,D,E Loans compared to 2015 NPLs 30 days (%) B, C, D, E Loans / Gross Loans (%) Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 CorpBanca Total Banks 1 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 CorpBanca Total Banks 1 Coverage (%) 2 B, C, D, E Loans Coverage (%) Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 1 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 1 CorpBanca Total Banks CorpBanca Total Banks 27 Source: Superintendencia & CorpBanca Colombia,, 1: Information from system as of November : Loan Loss Provisions / Past Due loans above 30 days

27 CorpBanca Colombia Funding Detail Higher share of Time Deposits than Industry, with a more stable funding structure. Funding Mix (USD Bn) % YoY Growth $18,3 $7,8 $18,8 $14,5 $7,3 $59,4 $129,9 Peer CorpB 13% 12% 16% 6% 12% 12% 12% 20,1% 72,5% 30% 29% 33% 42% 51% 34% 35% 36,8% 27,8% 18% 20% 9% 12% 14% 12% 5,0% -12,3% 8% 39% 40% 42% 40% 30% 40% 41% -0,7% -34,2% Peer 1 Peer 2 Peer 3 Peer 4 C Peers Sist. 13,0% -0,4% TDs Bonds Checking Accounts Savings 28 Source: Superintendencia & CorpBanca Colombia, Numbers as of November2016 DDA: Checking Accounts

28 CorpBanca Colombia Funding Evolution An increase in the proportion of TDs, and Ordinary Bond Emissions during Reduced sensibility to changes in Interest Rates Funding Mix (%) 8% 7% 7% 7% 7% 8% 8% 10% 12% 41% 42% 42% 42% 40% 40% 49% 53% 51% Checking Saving 41% 39% 39% 42% 44% 43% 36% 30% 28% TDs Bonds 11% 11% 11% 9% 9% 9% 8% 8% 8% Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 VaR weight on capital adequacy ratio (USD millions, %) 1 1.4% 1.1% 1.2% 1.3% 1.4% 1.3% 1.2% 1.3% 0.9% VAR 0.8% 0.9% 1.0% 0.9% 0.9% 1.0% 0.9% 0.9% 0.8% Ratio Corpbanca Ratio System Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec Source: Superintendencia & CorpBanca Colombia, 1 Total Capital Adequacy ratio minus capital adequacy ratio without VaR

29 CorpBanca Colombia Liquidity CorpBanca sufficiently fulfills regulatory indicators and maintains a ratio of Net Loans over Funding below one. The bank is in the process of aligning limits and standards with those of Basilea III (LCR y NSFR) Liquid Coverage Ratio (IRL) USD BN) IRL 7 Days IRL 30 Days IRL 90 Days 0 Ratio between Loan Portfolio and Funding (%, USD million) % 96.5% 99.0% 97.0% 89.2% 92.2% 90.3% 95.1% 93.7% Net Loans Deposits Ratio Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec Source: CorpBanca Colombia, 1: Funding: Savings and Checking accounts, Term Deposit and Bonds

30 CorpBanca Colombia Net Interest Margin Recomposition of funding structure, higher liquidity costs and an increase in the Central Bank rates had an impact on the NIM. Over the last 3 months of the year the NIM stabilizes NIM (%) 1 NIM CenBank Rate Average 7, Average jan-15 feb-15 mar-15 apr-15 may-15 jun-15 jul-15 aug-15 sep-15 oct-15 nov-15 dec-15 jan-16 feb-16 mar-16 apr-16 may-16 jun-16 jul-16 aug-16 sep-16 oct-16 nov-16 dec-16 Loans and Deposits Rates (%) Loans Bonds TDs CenBank Savings 11,8 8,9 7,9 7,5 5,7 jan-15 feb-15 mar-15 apr-15 may-15 jun-15 jul-15 aug-15 sep-15 oct-15 nov-15 dec-15 jan-16 feb-16 mar-16 apr-16 may-16 jun-16 jul-16 aug-16 sep-16 oct-16 nov-16 dec Source: Superintendencia & CorpBanca Colombia 1. NIM Loans Interest Deposits Interest expenses / Gross Loans includes the cost of bonds rediscounted loans and foreign currency loans. Annualized monthly NIM months net Income over 12 months average of equity and assets for Dec.14 Colgaap Accounting standards 3. Numbers as of november 2016

31 CorpBanca Colombia Capital Ratios Since 2012 CorpBanca has reinvested its net profits. The bank shows a Non-consolidated regulatory capital ratio of 13,1% as of december, and a Consolidated regulatory capital ratio close to its peers on september Non-consolidated regulatory capital ratio Dec. 16 (USD MM, %) Consolidated regulatory capital ratio Sep.16 1 (%) 13,1% 21.75% 1, ,7% ,100 Non- Consolidated 16.86% 13,47% 14,40% 13.18% 12.68% 14.30% Tier1+Tier2 Consolidated 12,38% 12,24% 11,50% Tier 1/Deductions Good will Tier 1 Subordinated Debt Other Regulatory Capital Tier 1 Consolidated 9.05% 9.50% 9.82% 9.29% 6.90% Bancolombia Bogotá Occidente 2 CorpBanca Davivienda 32 Source: Superintendencia & CorpBanca Colombia Numbers as of december : Source: Annual reports of each bank. 2: Consolidated numbers as of june 2016

32 Itaú CorpBanca Institutional Presentation January 2017