SANTIAGO, Chile, April 29, 2020 (GLOBE NEWSWIRE) -- ITA CORPBANCA (: ITCB; SSE: ITAUCORP) announced that it filed today a Material Event Notice with the Chilean Commission for the Financial Market reporting that Mr. Andrs Bucher Cepeda resigned from his position as director of Ita Corpbanca. The board of directors appointed Mr. Rogrio Carvalho Braga as Mr. Buchers replacement effective immediately. Mr. Braga shall hold office until the next annual ordinary shareholders meeting. The full Material Event Notice is available on the companys investor relations website at ir.itau.cl.
About Ita Corpbanca
ITA CORPBANCA (: 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: 38.14% owned by Ita Unibanco, 28.57% owned by the Saieh Family 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 bank is the fifth largest private bank in Chile and as per its mandate is the banking platform for future expansion in Latin America, specifically in Chile, Colombia and Peru. Ita Corpbanca is a commercial bank based in Chile with additional operations in Colombia and Panama. In addition, Ita Corpbanca has a branch in New York and a representative office in Lima. Focused on large and medium sized 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 with 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 February 29, 2020, according to the Chilean Commission for the Financial Market (Comisin para el Mercado Financiero), Ita Corpbanca was the fifth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 10% market share. As of the same date, according to the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia), Ita Corpbanca Colombia was the seventh largest bank in Colombia in terms of total loans and the eighth largest bank in Colombia in terms of total deposits, as reported under local regulatory and accounting principles. Its market share by loans reached 4.1% as of February 29, 2020.
Investor Relations Ita Corpbanca