P - Banco Security

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• PRIVATE BANKING AND PREMIER BANKING: oriented to high-net-worth individuals, offeringthem tailor-made products and services that require complete attention in matters ofinvestment and specialized advice from their account executive.• PREFERENTIAL BANKING: oriented to customers requiring traditional financial products andservices and who demand a first-class personalized service. Because of differences in the profileand needs of these customers, sub-segments have been defined to provide a better attentionto each of them.The Bank, always focused on full attention of the customer, offers a broad variety of productsand services to these segments, which include checking accounts in local and foreign currency, awide range of credit products, mortgage finance, currency trading, means of payment (debit andcredit cards), payment services, insurance, investment instruments, etc.Banco Security’s customers have access to a latest-generation technological platform thatpermits a fast and easy access to products and services through its different electronic channels.F O R E I G N T R A D E A N D I N T E R N A T I O N A L S E R V I C E SForeign trade and international services is a strategic area in the development pf Banco Security’sbusiness model. The Bank therefore has a team of specialists in both traditional foreign trade andin structured business such as international guarantees or financing abroad, which has positionedit in the market as a bank of excellence and an international benchmark for doing business withChile and its companies.As Chile has one of the most open economies in the world, Banco Security has placed specialemphasis on developing this business area in order to accompany its customers in their businesswith the rest of the world. Banco Security has also become one of the pioneers in Chileanbanking in the direct financing of companies abroad.The market has responded positively to Banco Security’s business proposal. The Bank in fact hasfirmly and consistently increased its share of foreign trade flows in 2010, positioning itself againas the best foreign-trade service in the country, according to surveys carried out by reputablespecialist firms. Security’s foreign-trade service won first place in “Global Customer Satisfaction”.
06business strategy 29M O N E Y D E S KAlways considered as a fundamental complement to the traditional banking business, this areaattends directly a large part of the institutional customers and is concerned to offer a completerange of financial products to all customers, together with advice whenever required, and alsomanages the Bank’s own investment portfolio. This area is also responsible for the Bank’s matchesand liquidity, following the guidelines set by the Assets and Liabilities Committee.During 2010, the area was split into four different Desks in order to provide a greater specializationin each of its responsibilities:• DISTRIBUTION DESK: offers Bank customers all the financial products handled by the MoneyDesk, like currency trading, time deposits, exchange and inflation hedges, swaps and otherfinancial derivatives, plus the combination of these products in structures according to thespecific needs of the customer:• TRADING DESK: administers and manages the Bank’s own short-term investment portfolio.• INVESTMENTS DESK: administers and manages the Bank’s own medium and long-terminvestment portfolio• BALANCE SHEET DESK: responsible for managing the structural matches of currencies andmaturities in the balance sheet, and liquidity, following the guidelines set by the Assets andLiabilities Committee.I N V E S T M E N T SThrough its subsidiaries Valores Security S.A. Corredores de Bolsa and Administradora General deP A G EFondos Security S.A., the best products and services are offered to customers for asset management,through comprehensive advice of excellence directed to individuals and companies. The principalproducts offered include: share and domestic fixed-income securities brokerage, domestic andinternational mutual funds, pensions advice and APV (voluntary pension management).
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Page 6 and 7: C O N S O L I D A T E D F I N A N C
Page 8 and 9: l o a n c o m p o s i t i o nOTHERS
Page 11 and 12: chairman’s letter03
Page 13: 03 chairman’s letter11P A G EFor
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Page 19 and 20: 04board and management 17The perman
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Page 25: 2004In June 2004, Grupo Security ac
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Page 50 and 51: DIVIDEND POLICYBanco Security has n
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ac) Provisions and contingent liabi
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5 . B U S I N E S S S E G M E N T S
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) Income by business segmentCorpora
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7 . T R A D I N G S E C U R I T I E
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) Hedge Accounting:The fair value a
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) Movement of provisions for loan l
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1 2 . I N V E S T M E N T I N S T R
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) The movement of intangible assets
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1 6 . C U R R E N T A N D D E F E R
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c.2) Effect of deferred taxes:At De
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d.2) Provisions for past-due portfo
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) The movement of provisions for as
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) Time deposits and other time liab
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2 1 . P R O V I S I O N Sa) At Dece
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) Contingent loansThe table below s
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) At December 31, 2010 and 2009, ea
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) Interest expenseDetails of intere
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2 7 . I N C O M E F R O M F I N A N
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3 0 . P E R S O N N E L S A L A R I
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3 2 . D E P R E C I A T I O N , A M
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) Other assets and liabilities with
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3 5 . F A I R VA L U E O F F I N A
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3 6 . R I S K M A N A G E M E N TI.
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3. Credit Decision-making:The Credi
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On the basis of the above, the Bank
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Notwithstanding, for particular cas
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D.6 Distribution of loan portfolio:
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IV. FINANCIAL RISKA. Financial Risk
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The Internal Audit department regul
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Market risk according to the method
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Regulatory Liquidity Mismatch at De
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Regulatory Liquidity Mismatch at De
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The Fair Value recognized in equity
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Make-up of the Credit Risk Committe
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Assets are weighted according to th
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Circular Nº 3,503 - In August, 201
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Amendments to IFRSMandatoryapplicat
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$ Chilean PesoMCh$ Millions of Chil
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VA L O R E S S E C U R I T Y S . A
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A D D R E S S E S B A N C O S E C U
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Vitacura branchAv. Vitacura 3706 -
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“THIS PAPER COMES FROM FORESTS MA
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w w w . B A N C O s e c u r i t y .
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