72 issued by the Chilean Association of Accountants and Circular No. 1, issued by SVS, recognizing income on an accrual basis. 1, issued by the SVS, recognizing income on an accrual basis. Computer software has been valued as established in Circular No. for adjusting the acquisition CompaniesL shareholdersL equity at fair value, in accordance with Circular No of the SVS and Technical.
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Additionally, we believe that our merger with Citibank Sfs reinforced our corporate image as a leading financial institution within Chile and allowed us to gain recognition among customers and investors all over the world.
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In addition, Banco CrediChile carries out rigorous procedures for the collection of past-due loans through Socofin S. Thus, we provide them with specific information and knowledge intended to improve their economic situation by promoting savings and avoiding over-borrowing.
These figures translated into past-due ratios loans 90 days or more past-due over total loans of 1. We are continuously developing and optimizing internal processes in order to reduce and manage our expenses. Principal Accountant Fees and Services. Given the floating exchange rate regime that exists in Chile, the Chilean peso has been subject to large fluctuations in the past and this trend could occur again in the future.
Risks Relating to our ADSs.
For this reason, during we focused on improving benefits to our 1. Lastly, as requested by the Chilean government, we have curcular to renew our ATMs network by replacing older devices with new ATMs with more sophisticated and stable technology.
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Since we have no certainty regarding the limits to be imposed by the regulator to the banking industry and Banco de Chile in particular, we cannot assure you that new liquidity requirements will not have a material impact on our financial condition or results of operations in the future.
Cash collateral on securities lent and repurchase agreements. We are also exposed to cyber-attacks and other cybersecurity incidents in the normal course of business. Holders of these accounts pay an annual fee, based on the number of withdrawals on the account line of credit and interest on any outstanding balance under the line of credit. Furthermore, we have benefited from certain indicators that directly affect the retail circualr segment e.
This annual report contains translations of certain Chilean peso amounts into U. The results of our operations depend to a great extent on our net interest income, which represented Title of each class. Current 6197 Balances held by Individuals. In particular, the recently elected administration in the U. Lines of credit and other loans.
These capital expenditures will be principally financed by cash on hand and long-term debt financing. We also face competition from non-banking competitors in some of our credit products, especially credit cards and installment loans. If our judgment, assumptions or models used in valuing these items are inaccurate, there could be a material effect on our results, funding requirements and capital ratios. We are convinced that in a highly competitive industry such as the Chilean banking system, a customer -centric focus is critical to generating loyalty and creating long-term profitable relationships.
Amid this slowdown, we took advantage of our competitive strengths and continued to optimize our risk-return relationship by keeping our credit risk under control and developing innovative commercial strategies. Given the constrained business expansion in light of the slowdown in the Chilean dvs, duringBanco CrediChile focused on operational efficiency, productivity and cost control.
This approach circula allowed us to minimize the loss rates, as the value obtained from auctions if foreclosure applies generally exceeds the value assigned to the asset as guarantee.
Net Income including minority interest. Business Scale and Leading Market Position. Equity holders of the parent. The main objective of this program is to motivate people to change their consumption behavior, when necessary. Shares of common stock, without nominal par value.
Consequently, we have been focused on optimizing the profitability in this segment by enhancing our cross selling through the generation and enhancement of fee-based services, such as payroll processing, dividend payments and vircular services, as well as computer banking services.
Further, the changes and new definitions for impaired. For this reason, we continue to strengthen our connection to our employees in order to align corporate values and goals with their career development and personal goals. Thus, in spite of recording a moderate annual expansion of 3. Additionally, we implemented a new internet-based cigcular for money exchange. As of the same date and excluding operations of subsidiaries abroad, we continued to be the second largest bank in Chile in terms of total loans with a market share of Lastly, in the past, increasing competition within the Chilean banking industry has been accompanied by a consolidation wave and the entry of international players to the system through multiple mergers and acquisitions.