Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g-3-2(b): 82- ____.)
BANCO DE CHILE
REPORT
ON FORM 6-K
Attached is an English translation of a press release published by Banco de Chile (“the Bank”) in local newspapers on October 29, 2004, regarding its Consolidated Financial Statements as of September 30, 2004 and 2003.
Banco de Chile and Subsidiaries
Consolidated Financial
Statements
as of September 30, 2004 and 2003
BANCO DE CHILE AND
SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30,
(Expressed in
million of Chilean pesos)
________________
| 2004 | 2003 | |
| ASSETS | ||
| MCh$ | MCh$ | |
| 718,299.2 | 744,353.2 | |
| CASH AND DUE FROM BANKS | ||
| LOANS: | ||
| Commercial loans | 2,681,307.4 | 2,671,110.8 |
| Foreign trade loans | 642,261.1 | 629,624.2 |
| Consumer loans | 676,868.9 | 557,536.3 |
| Mortgage loans | 937,144.1 | 1,172,596.4 |
| Leasing contracts | 328,943.0 | 272,007.0 |
| Contingent loans | 507,341.9 | 405,160.7 |
| Other outstanding loans | 734,343.6 | 383,422.7 |
| Past due loans | 97,335.1 | 126,116.2 |
| Total loans | 6,605,545.1 | 6,217,574.3 |
| Allowance for loan losses | (163,052.0) | (182,290.6) |
| Total loans, net | 6,442,493.1 | 6,035,283.7 |
| OTHER LOANS: | ||
| Interbank loans | 40,434.6 | 30,190.9 |
| Investments purchased under agreements to resell | 42,715.8 | 15,548.7 |
| Total other loans | 83,150.4 | 45,739.6 |
| INVESTMENTS: | ||
| Government securities | 1,036,495.0 | 1,134,518.0 |
| Other financial investments | 269,057.1 | 419,096.2 |
| Investment collateral under agreements to repurchase | 440,522.1 | 302,382.6 |
| Assets held for leasing | 25,748.5 | 16,304.8 |
| Assets received in lieu of payment | 16,353.0 | 17,373.7 |
| Other non financial investments | 2.2 | 2.2 |
| Total investments | 1,788,177.9 | 1,889,677.5 |
| OTHER ASSETS | 429,707.1 | 224,662.7 |
| FIXED ASSETS: | ||
| Bank premises and equipment, net | 131,610.6 | 131,680.8 |
| Investments in other companies | 5,497.8 | 3,575.3 |
| Total fixed assets | 137,108.4 | 135,256.1 |
| Total assets | 9,598,936.1 | 9,074,972.8 |
BANCO DE CHILE AND
SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30,
(Expressed in
million of Chilean pesos)
________________
| LIABILITIES AND SHAREHOLDERS´ EQUITY | 2004 | 2003 |
| MCh$ | MCh$ | |
| DEPOSITS AND OTHER LIABILITIES: | ||
| Current accounts | 1,299,125.5 | 1,132,103.0 |
| Time deposits | 3,744,120.4 | 3,736,797.4 |
| Other demand and time deposits | 707,569.9 | 644,176.6 |
| Securities sold under agreements to repurchase | 451,554.5 | 310,780.6 |
| Mortgage finance bonds | 906,987.5 | 1,047,010.4 |
| Contingent liabilities | 510,076.8 | 405,575.3 |
| Total deposits and other liabilities | 7,619,434.6 | 7,276,443.3 |
| BONDS ISSUED: | ||
| Bonds | 179,035.0 | 3,826.8 |
| Subordinated bonds | 267,178.0 | 278,592.8 |
| Total bonds issued | 446,213.0 | 282,419.6 |
| BORROWINGS FROM FINANCIAL INSTITUTIONS AND CENTRAL BANK: | ||
| Central Bank credit lines for renegotiation of loans | 2,125.3 | 3,186.0 |
| Other Central Bank borrowings | 501.9 | — |
| Borrowings from domestic financial institutions | 48,086.4 | 63,885.8 |
| Foreign borrowings | 445,646.9 | 591,758.3 |
| Other liabilities | 46,253.2 | 39,953.8 |
| Total borrowings from financial institutions and Central Bank | 542,613.7 | 698,783.9 |
| OTHER LIABILITIES | 347,656.3 | 135,532.2 |
| Total liabilities | 8,955,917.6 | 8,393,179.0 |
| MINORITY INTEREST | 1.0 | 4.5 |
| SHAREHOLDERS´ EQUITY: | ||
| Capital and reserves | 517,426.5 | 571,354,6 |
| Other equity accounts | 3,933.2 | 5,775.9 |
| Net income for the period | 121,657.8 | 104,658.8 |
| Total shareholders’ equity | 643,017.5 | 681,789.3 |
| Total liabilities and shareholders´ equity | 9,598,936.1 | 9,074,972.8 |
| 2004 | 2003 | |
| MCh$ | MCh$ | |
| OPERATING RESULTS: | ||
| Interest revenue | 416,337.2 | 373,631.9 |
| Gains from trading activities | 18,807.8 | 20,282.2 |
| Income from fees and other services | 105,621.9 | 89,337.9 |
| Gains from foreign exchange transactions | — | 33,619.2 |
| Other operating income | 15,444.1 | 9,683.1 |
| Total operating revenues | 556,211.0 | 526,554.3 |
| Less: | ||
| Interest expense | (157,322.9) | (166,797.8) |
| Losses from trading activities | (14,595.6) | (10,588.2) |
| Expenses from fees and other services | (20,159.4) | (17,826.3) |
| Losses from foreign exchange transactions | (6,471.4) | — |
| Other operating expenses | (9,196.7) | (10,731.4) |
| Gross margin | 348,465.0 | 320,610.6 |
| Personnel salaries and expenses | (96,467.0) | (90,395.3) |
| Administrative and other expenses | (62,165.0) | (61,928.3) |
| Depreciation and amortization | (12,623.4) | (14,750.7) |
| Net margin | (177,209.6) | 153,536.3 |
| Provision for loan losses | (28,597.4) | (27,576.4) |
| Total operating income | 148,612.2 | 125,959.9 |
| NON OPERATING RESULTS: | ||
| Non operating income | 4,122.2 | 3,958.3 |
| Non operating expenses | (9,995.5) | (7,603.4) |
| Equity participation in net income (loss) in investments in other companies | 538.3 | (2,092.5) |
| Net loss from price-level restatement | (5,572.1) | (4,721.5) |
| Income before income taxes | 137,705.1 | 115,500.8 |
| Income taxes | (16,046.5) | (10,840.7) |
| Income after income taxes | 121,658.6 | 104,660.1 |
| Minority interest | (0.8) | (1.3) |
| Net income for the period | 121,657.8 | 104,658.8 |
| Héctor Hernández G. | Pablo Granifo L. |
| General Accounting Manager | Chief Executive Officer |
|
Banco de Chile
| ||
| By: |
/S/
Pablo Granifo L.
| |
|
Pablo Granifo Lavín
Chief Executive Officer
| ||