Itau CorpBanca files Material Event Notice

Marketwire 15-Sep-2017 4:15 PM

SANTIAGO, CHILE -- (Marketwired) -- 09/15/17 -- ITA CORPBANCA (NYSE: ITCB) (SSE: ITAUCORP) announced that it filed today with the Chilean Superintendence of Securities and Insurance a Material Event Notice reporting that Ita Unibanco, its controlling shareholder, indirectly acquired 0.35% of the share capital of Ita CorpBanca from CorpGroup. The Material Event Notice is also available on the company's corporate website at itau.cl/investor-relations.

About Ita CorpBanca

ITA CORPBANCA (NYSE: ITCB) (SSE: ITAUCORP) is the entity resulting from the merger of Banco Ita Chile with and into Corpbanca on April 1, 2016. The current ownership structure is: 36.06% owned by Ita Unibanco, 30.65% owned by CorpGroup and 33.29% owned by minority shareholders. Ita Unibanco is the sole controlling shareholder of the merged bank. Within this context and without limiting the above, Ita 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 merged bank has become the fourth 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. Ita Corpbanca is a commercial bank based in Chile with operations also in Colombia and Panama. In addition, Ita Corpbanca has a branch in New York and a representative office in Madrid. Focused on large and medium companies and individuals, Ita 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 Ita Chile and the business combination of our two banks in Colombia, represent the continued success of our regionalization process.

As of July 31, 2017, according to the Chilean Superintendence of Banks, Ita Corpbanca was the fourth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 11.0% market share.

As of July 31, 2017, according to the Colombian Superintendence of Finance, Ita Corpbanca Colombia was the sixth largest bank in Colombia in terms of total loans and also the sixth largest bank in Colombia in terms of total deposits, as reported under local regulatory and accounting principles. As of the same date, its market share by loans reached 5.3%.

Investor Relations - Itau Corpbanca+56 (2) 2660-1701IR@corpbanca.cl

Source: Itau Corpbanca