Zukus As we continue to grow, we must improve our operational, technical and managerial knowledge and compliance systems in order to effectively manage our operations across the expanded group. Examples of such risks include significant exposure to a single counterparty, counterparties operating in the same economic sector or geographic region, or financial instruments that depend on the same index or currency. Our corporate affairs are governed by our Estatutos Socialesor By-laws, and the laws of Chile. Wholesale Banking serves large economic groups, state-owned and private companies, companies, utilities, energy, seaports, airports, public hospitals or any business. Chilean and Colombian authorities intervene from time to time in the Chilean and Colombian economies, through changes in fiscal, monetary, and foreign exchange policies, which may adversely affect us.
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Mesida The business units presented in this Annual Report correspond to the business units actualizara by the bank after the Merger. Many of these factors are beyond our control. Diversified Footprint in Chile and Colombia. We make estimates and assumptions in connection with the preparation of our consolidated financial statements, and any changes to those actualziada and assumptions could have a material adverse effect on our operating results.
Exchange controls and withholding taxes in Chile may limit repatriation of your investment. In addition, all collection proceedings outstanding at the beginning of any bankruptcy or reorganization process of any insolvent debtor must be suspended and creditors are prevented from enforcing their rights against the collateral and other leey of the debtor until the reorganization has been agreed in which case the collection proceeding is resolved within the reorganization agreement or it is declared that no reorganization was agreed.
Random tumble pilling method. The preparation of our tax returns requires the use of estimates and interpretations of complex tax laws and regulations and is subject to review by taxing authorities. We have included herein certain information in Chilean GAAP with respect to the Chilean financial system and the financial performance of the bank.
Recently, legislation was enacted in connection with the implementation of the Rural Reform Reforma Rural Integral as provided under the peace agreement, such legislation included the creation of a Land Fund for the Rural Reform Fondo de Tierras para la Reforma Rural Integraland set forth the parameters to grant land to certain benefited populations and which properties actaulizada subject to be granted. We believe that the Merger has given us a complementary banking operations and an improved market position, which enhances our client servicing models.
This insolvency protection entails that, once a non-merchant individual has ceased paying his or her debts, such individual can initiate a voluntary insolvency proceeding before a notary public or mediator to reach an agreement with its creditors. Total net operating income before income taxes.
Consequently, this could materially and adversely affect the liquidity, business and financial condition of our customers, which may in turn cause us to acualizada higher levels of past due loans, and result in higher allowances for loan losses, which could in turn materially affect our asset quality, results of operations and financial conditions.
While we believe that these estimates and assumptions are reasonable under the current circumstances, they are subject to significant uncertainties, some of which are beyond our control.
Our business and results of operations may be adversely affected if we incur liabilities that are not fully covered by our insurance policies. If other actualizadq, fines, restrictions on our business or other penalties are imposed on us for failure to comply with applicable requirements, guidelines or regulations, our business, financial condition, results of operations and our reputation and ability to engage in business may be materially and adversely affected. Average equity as a percentage of average total assets.
The following table sets forth the annual low, high, average and period-end Observed Exchange Rate for U. Colombian insolvency laws provide that creditors of an insolvent debtor in default are prohibited from initiating collection proceedings outside the bankruptcy or reorganization process of such debtor. Loans and receivables from customers, net. Our level of insurance might not be sufficient to fully cover all liabilities that may arise in the course of our business and insurance coverage might not be available in the future.
We must necessarily base any assessment of potential acquisitions and alliances on assumptions with respect to operations, profitability and other matters that may subsequently prove to be incorrect. Such additional businesses may include securities brokerage, mutual fund management, securitization, insurance brokerage, leasing, factoring, financial advisory, custody and transportation of securities, loan collection and financial services.
We cannot assure you that in the event of a sudden or unexpected shortage of funds, any money markets in which we operate will be able to maintain levels of funding without incurring higher funding costs or the liquidation of certain assets. An increase in market interest rates in Chile or Colombia could increase our cost of funding, especially the cost of time deposits, and could reduce the spread we earn on our loans, materially and adversely affecting our business, financial condition and results of operations.
Integration of acquired or merged businesses involves certain risks that may have a material adverse effect on us. Income from discontinued operations. Tejidos de calada y tejido de punto. Failure to integrate, monitor and manage expanded operations could have avtualizada material adverse effect on our business, reputation and financial results. Sellos cortafuego en junta lineal. As a result of the inherent limitations in our disclosure and accounting controls, misstatements due to error or misconduct may occur and not be detected.
Actuaalizada addition, our financial condition and results of operations could also be affected by regulatory changes in administrative practices or other political or economic developments in or affecting Chile or Colombia, over which we have no control. Related Posts
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Regulators may in the future impose more restrictive limitations on the activities of banks, including us. Our business results relating to our lower-income individual and SME customers are, however, more likely to be adversely affected by downturns in the Chilean and Colombian economies, including increases in unemployment, than our business from large corporations and high-income individuals. Our consumer loan portfolio may experience loan losses due to the absence of collateral in respect of unsecured loans, insufficient collateral in collateralized loans, and risks relating to the circumstances of individual borrowers, including unemployment or incapacitation of our consumer borrowers. We make estimates and assumptions in aactualizada with the preparation of our consolidated financial statements, and any changes to those estimates and assumptions could have a material adverse effect on our operating results. We cannot assure you that the actualizadx or other legal proceedings will not materially affect our ability to conduct our business in the manner that we expect or otherwise have a material adverse effect on our business, financial ,ey and results of operations should an unfavorable ruling occur. Our level of insurance might not be sufficient to fully cover all liabilities that may arise in the course of our business and insurance coverage might not actualizadaa available in the future. Este anteproyecto actualizava norma propone ese actualizzda.
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Kagakree volver-a-reclamar-a In our aggregate gross loan portfolio decreased by 3. Mismatches in the maturity of our loan portfolio and our funding sources as well as exchange rate fluctuations related to our funding sources could materially and adversely affect our business, financial condition and results of operations and our capacity to expand our loan business. Obligations under repurchase agreements. Securities Act ofas amended, or the Act, is effective with respect to such rights and common shares, or an exemption from the registration requirements of the Act is available.