P - Banco Security

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3 0 . P E R S O N N E L S A L A R I E S A N D E X P E N S E SRemunerations included in employee expenses correspond to expenses accrued in the period for employee salaries and compensationsand other expenses derived from the relationship between the Bank and subsidiaries as employer and their employees.a) Details of expenses in 2010 and 2009 for these concepts are as follows:At December 312010At December 312009MCh$ MCh$Employee salaries 15,447 14,024Bonuses 5,185 3,744Severance indemnities 2,413 716Training expenses 210 107Other benefits 2,335 1,916Total 25,590 20,507b) Details of other employee expenses recognized during the years ended December 31, 2010 and 2009 are as follows:No. of employees with benefitTotalOrigin of2010 2009 2010 2009benefitMCh$ MCh$BonusesProduction bonus 790 809 Voluntary 3,625 2,428Legal bonus and employer contributions 915 809 Contractual 1,123 867Other bonuses 802 809 Contractual 437 449Total bonuses 5,185 3,744Other benefitsHealth insurance 916 809 Contractual 642 597Life insurance 310 230 Contractual 26 37Contract-stipulated lunch allowance 916 809 Contractual 791 730Benefit through compansation societies 38 - 198 81Annual events 811 809 Voluntary 136 90Nursery assistant and nurseries 81 - By birth 88 48Length of service bonus 27 - Length of service 38 28Other benefits 895 - 416 305Total other benefits 2,335 1,916
115P A G E10 financial statements3 1 . A D M I N I S T R A T I V E E X P E N S E SDetails of this item at December 31, 2010 and 2009 are as follows:At December 312010At December 312009MCh$ MCh$General administrative expensesMaintenance and repair of property, plant and equipment (2,559) (2,142)Office leases (1,014) (1,027)Equipment leases (342) (234)Insurance premiums (326) (371)Office materials (439) (504)Computer and communications expenses (1,073) (3,609)Lighting, heating and other services (420) (504)Guard and security transportation services (144) (149)Hospitality and employee travel expenses (302) (282)Legal and notary expenses (498) (325)Fees for technical reports (7,822) (4,009)Fees for audit of financial statements (224) (157)Fees for classification of stock certificates (31) (51)Fines imposed by other agencies (26) (37)Banking expenses (289) (292)Advisory service expenses (2,242) (1,900)Ordinary expenses (584) (319)Mail and stamps (231) (249)Other administrative overheads (3,960) (3,692)Subtotal (22,526) (19,853)Subcontracted services:Data processing (385) (341)Others (1,400) (1,244)Subtotal (1,785) (1,585)Board of Director fees (638) (500)Publicity and advertising (1,125) (908)Taxes, duties and contributionsReal estate duties (252) (203)Licenses (493) (510)Other taxes (6) (1)Contribution to the Superintendency of Banks and Financial Institutions (907) (873)Subtotal (1,658) (1,587)Total (27,732) (24,433)
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A N N U A L R E P O R T 2 0 1 0
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C O N S O L I D A T E D F I N A N C
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l o a n c o m p o s i t i o nOTHERS
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chairman’s letter03
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03 chairman’s letter11P A G EFor
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04board and management 15LARGE CORP
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04board and management 17The perman
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04board and management 19• José
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04board and management 21OTHER COMM
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2004In June 2004, Grupo Security ac
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B U S I N E S S S T R A T E G YThe
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• PRIVATE BANKING AND PREMIER BAN
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anco security and its environment07
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07 banco security and its environme
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07banco security and its environmen
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07E V O L U T I O N T O TA L L O A
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IDENTIFIC ATION OF THE COMPANYNAMEB
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DIVIDEND POLICYBanco Security has n
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09subsidiaries
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5309 subsidiariesAmong the highligh
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5509 subsidiariesReflecting the con
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financial statements10
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financial statements10C O N S O L I
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C O N S O L I D A T E D S TAT E M E
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Page 88 and 89: ) Hedge Accounting:The fair value a
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Page 98 and 99: c.2) Effect of deferred taxes:At De
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Page 108 and 109: ) Contingent loansThe table below s
Page 110 and 111: ) At December 31, 2010 and 2009, ea
Page 112 and 113: ) Interest expenseDetails of intere
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Page 128 and 129: On the basis of the above, the Bank
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Page 132 and 133: D.6 Distribution of loan portfolio:
Page 134 and 135: IV. FINANCIAL RISKA. Financial Risk
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Page 150 and 151: Circular Nº 3,503 - In August, 201
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Page 160 and 161: Vitacura branchAv. Vitacura 3706 -
Page 162 and 163: “THIS PAPER COMES FROM FORESTS MA
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P - Banco Security

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