PA - Banco Security

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GROUP OWNERSHIP STRUCTURE The following shows the ownership structure and relationships between Grupo <strong>Security</strong> and its subsidiraies: GRUPO SECURITY BANCO SECURITY 99.9478% SECURITIZADORA SECURITY 99.98% INVERSIONES SEGUROS SECURITY 99.999965% INMOBILIARIA SECURITY 99.999 % INVERSIONES INVEST SECURUTY 99.995% VALORES SECURITY 99.76% ASESORIAS SECURITY 99.7818% VIDA SECURITY 99.37% GLOBAL SECURITY GESTIÓN Y SERVICIOS 99.77% ADM. GENERAL DE FONDOS SECURITY 99.99% GLOBAL ASSET ADIVISORS LTD 99.000% PENTA SECURITY SEGUROS GENERALES 29.35% MANDATOS SECURITY 99.77% FACTORING SECURITY 99.998% CIGNA ASISTENCIA 99.90% TRAVEL SECURITY 55.00% SERVICIOS SECURITY 99.99998% CORREDORA SECURITY 99.998% EUROP ASSISTENCE 49.00% COOPER GAY CHILE 49.999%
271 <strong>PA</strong>GE
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A N N U A L R E P O R T 2 0 1 0
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PAGE PAGE PAGE financial summary 14
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Grupo Security Summarized Unconsoli
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02 principal financial indicators n
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DEAR SHAREHOLDERS I have the pleasu
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oard and management 04
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04board and management SENIOR MANAG
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05 recognitions 17 COMPANIES WITH B
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06 activities 19 ENCUENTRO JUVENTUD
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06 activities 21 A SCHOOL FOR VILLA
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2003 Inversiones Seguros Security i
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ECONOMIC CONTEXT EXTERNAL ENVIRONME
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CHILE: GDP GROWTH (%) 7 6 5 4 3 2 1
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09strategic pillars
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09strategic pillars security, where
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09 strategic pillars RISK MANAGEMEN
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10business areas
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10 business areas 39 PAGE
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FINANCING BANKING INDUSTRY Banking
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The following graph shows the evolu
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EARNINGS AND ROE OF BANCO SECURITY
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RISK Banco Security has been charac
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10business areas I N V E S T M E N
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10 business areas 53 Administradora
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10 business areas 55 SECURITIZADORA
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INSURANCE INSURANCE INDUSTRY The Ch
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Compañía de Seguros Generales Pen
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10business areas S E R V I C E S
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It is important to recall that the
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INVESTMENT POLICY The bylaws of Gru
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The individual financial liabilitie
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BANK CREDITORS As of December 31, 2
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ASSOCIATED RISKS Local Financial Ri
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company information 12
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12company information In accordance
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12 company information 81 • Revis
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12 company information 83 In Seguro
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12 company information 85 STOCK MAR
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12 company information 87 SOCIEDAD
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12 company information 89 INMOBILIA
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Regulatory Framework Grupo Security
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financial statements 13
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financial statements 13 C o n s o l
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Consolidated Statement of Financial
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Consolidated statement of comprehen
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CONSOLIDATED STATEMENTS OF CASH FLO
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CONSOLIDATED STATEMENT OF CHANGES I
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The following companies are include
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) Description of Grupo Security’s
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- Fair value option As indicated in
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Disclosure of the Adoption of new a
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For financial assets, the amortized
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The recoverable amount is the highe
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Vida Security maintains current der
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f) Structured fixed income notes Vi
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CategorY Estimated range of loss Lo
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The main components of the cost of
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2.30 Foreign currency and indexatio
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The most significant areas of estim
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i. Pension insurances reserves This
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3.1 Main changes in the accounting
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Suspension of revenue recognition o
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) Summary of Consolidated Equity as
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3.3 Main adjustments made a) Invest
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NotE 5 - Income taxes Deferred tax
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Inmobiliaria Security S.A. measures
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NotE 8 - Investments in Associates
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NotE 9 - Property, Plant and Equipm
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) The amortization of intangible as
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NotE 13 - Other Financial Assets, C
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NotE 16 - Other Non-Financial Asset
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Detail of bank obligations as of De
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Detail of bank obligations as of Ja
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Detail of the bonds at December 31,
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NotE 19 - Other Non-Financial Liabi
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NotE 23 - Other Financial Liabiliti
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Note 24 - Non-Current Liabilities A
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) Cost of Sales The items includes
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NotE 26 - Administrative expenses T
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BALANCE 31.12.2010 31.12.2009 01.01
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Up to 1 year From 1 to 3 years From
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The management of Grupo Security S.
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c) Statement of Financial Position
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e) Statement of Financial Position
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2) Risk Management Structure Banco
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4º Credit Management Basically, th
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In the case of the Bank’s impaire
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These are the details of guarantees
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Loans that are classified individua
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Such limitations allow the Bank to
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Banco Security and its Subsidiaries
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Market risk trading ledger 31.12.20
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Regulatory Liquidity Mismatching as
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Regulatory Liquidity Mismatching as
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currency swaps). These derivatives
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Participants in the Credit Risk Com
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7) Regulatory Capital Requirement I
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6) Summary of the Policy for Invest
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d) Dividends The policy agreed by t
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The following table shows financial
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Valores Security S.A. Corredores de
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• The Board of Directors agreed t
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Note 37 - Subsequent Events On Janu
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MANAGEMENT’S ANALYSIS OF CONSOLID
Page 222 and 223: 2.2 Factoring Industry Factoring ha
Page 224 and 225: 5. Risk Factors 5.1 Dependence on d
Page 226 and 227: 6 PERFORMANCE INDECATORS OF THE CON
Page 228 and 229: $ Pesos Chilenos MM$ Millones de Pe
Page 230 and 231: BANCO SECURITY AND SUBSIDIARIES Typ
Page 232 and 233: Banco Security and Subsidiaries Con
Page 234 and 235: Banco Security and Subsidiaries Con
Page 236 and 237: Valores Security S.A. Corredores de
Page 238 and 239: Administradora General de Fondos Se
Page 240 and 241: Factoring Security S.A. Type of ent
Page 242 and 243: Asesorias Security S.A. AND SUBSIDI
Page 244 and 245: Securitizadora Security S.A. Type o
Page 246 and 247: Global Asset Advisors Type of entit
Page 248 and 249: Inversiones Seguros Security Ltda A
Page 250 and 251: Seguros Vida Security Previsión S.
Page 252 and 253: Compañía de Seguros Generales Pen
Page 254 and 255: Servicios Security S.A. AND SUBSIDI
Page 256 and 257: Corredores de Seguros Security Ltda
Page 258 and 259: Europ Assistance Chile s.A. Type of
Page 260 and 261: Cooper Gay Chile S.A. Corredores de
Page 262 and 263: Inmobiliaria Security S.A. AND SUBS
Page 264 and 265: INVERSIONES INVEST SECURITY LTDA. A
Page 266 and 267: Travel Security S.A. AND SUBSIDIARI
Page 268 and 269: Global Security Gestión y Servicio
Page 270 and 271: Mandatos Security Ltda. Type of ent
Page 274 and 275: D E C L A R A T I O N O F R E S P O
Page 276 and 277: ADDRESSES OF COMPANIES OF GRUPO SEC
Page 278 and 279: Santa Elena Branch Santa Elena 2400
Page 280 and 281: Santiago Nueva York 33, Office 1402
Page 282: “THIS PAPER COMES FROM FORESTS MA
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