Thank you for that. So we also assess that in your model.But I do believe there are still opportunities for us, especially in Colombia to revisit our footprint and adapt to the digital preferences from our clients. So in terms of the relative provisions that we did for the portfolio, I think there -- we are OK. Overall, our financial margins with clients grew 4.1% year-over-year.Our cost control remained quite strong as we had 0.5% lower non-interest expense year-over-year and an improvement of our efficiency ratio of 80 basis points, also on a year-over-year basis. So I think it's necessary for us to do additional provisions as well.But as we'd lost somehow one of the main variables that we had for this analysis with NPLs.

Returns as of 08/15/2020. I'm looking forward to meet you and working with you all in the future, and Claudia and I are available to answer any questions you might have. Ladies and gentlemen, thank you for standing by, and welcome to the Itau CorpBanca Second Quarter 2020 Financial Results Conference Call. details and a registrant ID used to track attendance on the We will compare the two companies based on the strength of their valuation, dividends, institutional ownership, profitability, earnings, analyst recommendations and risk. … Of course, the equity takes a part of impact for the families and the clients -- for the family and the companies, I'm sorry. Your line is open.Hi, good morning, everyone, and thanks for the presentation.

The NPL ratio fell 50 basis points in this quarter, driven by the fall of the NPLs of our commercial portfolio, due to the restructuring of credits of one specific client. Please go ahead.Good morning. And the second question is a bit different and is regarding branches and the presence in Colombia.

I'm happy to be with you today, and very happy to join Gabriel and the Itau CorpBanca team. webcast can be found at:

As you remember, for all the postponements of credit that the banking industry did in Chile, especially for the consumer and the mortgages cases, the CMF has issued specific regulations in how you were supposed to treat those postponements in terms of the credit provisions. in Colombia in terms of total loans and the eighth largest bank in Thank you for joining our conference call for our second quarter 2020 financial results.

We continue with our trend of growing expenses significantly below inflation, we expect that trend to continue in the future. In terms of the demand for postponement is increasingly lower, I think that in our case, we saw markets more interested in postponing, giving the level of uncertainty between the end of March and in the month of April. Asset mix has had a negative impact that stems from a more cautious approach we have been taking on credit risk.

Our total portfolio growth was in line with the market and concentrated in lower customer -- lower risk customers and products. We have disbursed over CLP600 billion of FOGAPE guaranteed credit lines focusing on relatively larger companies, which are more resilient and therefore, had lower credit risk.

So we have less visibility of the true NPL of the portfolio right now. Previously, he was a consultant for McKinsey & Company, specializing in corporate finance and risk management, as well as at the Central Bank of Brazil as a bank supervisor. In terms of our banking operations, we continue to be fully operational with higher-than-ever availability in our digital channels as well as 96% of our physical branches open.

So I think there are some part of that -- it's in addition to the normal provisions that we have due to the cycle that we're leaving. Following our expected loss approach to credit provisions, we have made CLP19.5 billion in additional provisions, despite falling commercial and mortgage NPLs and only a small 10 basis increase in our consumer NPLs.

The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. But when we take a look at the second part of your question regarding the additional provisions, what we did is, because as we take a look at the NPL ratios, of course, they are lower than we expected, especially because of all the negotiations of credits that went through the banking systems in Chile, the same happened in Colombia, Brazil and other countries.

As we show here, the macroeconomic outlook has deteriorated relative to what we expected at the end of the first quarter. Thank you so much for your questions.

In 2012, the bank initiated a In addition to taxes, the other negative impact of our earnings in this quarter was the increase in cost of credit, that was mainly driven by the additional provisions of CLP19.5 billion we made in Chile for the consumer and mortgages portfolios as well as the increasing provision for our wholesale clients impacted by the COVID-19 pandemic.Moving to the Slide 9, we show how we have been developing our credit portfolio growth strategy.

link:Participant registration: So it's a liquidity crisis somehow or the clients as they had to adapt for their cash flows.So in terms of the firm value of that, I think they're fine.