firm and vital

Commitment
firm and vital
With our shareholders who place their
trust in the conviction of being in good
hands.
Shareholders
41
Shareholders
The ordinary shareholders meeting held
on 12 April 2004 resolved to appropriate
Ch$40,087.6 million to the reserve for future
capitalizations, an amount representing
54.4% of the net income for 2003.
42
Tax position of the dividend
The ordinary shareholders' meeting held on 12 April 2004
approved the distribution of a dividend for Ch$340 per
share against the net income for 2003.
Equity resources
The ordinary shareholders' meeting held on 12 April 2004
resolved to appropriate Ch$40,087.6 million to the reserve
for future capitalization, a sum representing 54.4% of the
net income for 2003. With these funds, necessary for
sustaining the Bank's operating growth, and following
the distribution of the restatement of capital among the
equity accounts, Bci's basic capital at 31 December
2004 comprises the following:
Paid-in capital (98,814,522 shares)
$ 234,483,985,011
Reserve for future capitalization
101,046,209,661
Share premium
256,163,245
Exchange rate fluctuation investment in Miami
1,364,244,942
Fluctuation in value of permanent investment portfolio
39,035,018
Total
$ 337,189,637,877
Effective equity, that acts as a regulator for the different
operating limits set by the General Banking Law,
comprises the following:
Basic capital
Additional and voluntary provisions
Subordinated bonds
Share premium
Total
$ 337,189,637,877
20,630,055,313
138,957,240,243
(12,985,651,620)
$ 483,791,281,813-
For tax purposes, this dividend was distributed against
income taxed at the First Category rate of 15%. This charge
constitutes a credit against the income tax that shareholders
have to declare in April 2005. To calculate this, the credit
is considered subject to 1st Category income tax and
should legally be added to taxable income, as explained
in the following example relating to the dividend received
per share.
Dividend
Ch
$340
Restatement at December 2004 (340 x 1.026) Ch$ 348.84
Increase in 1st Category income tax
(0.15: 0.85) x 348,84
Ch$
Taxable income
Ch$ 410.40
Credit against tax (410.40x0.15
Ch$
61.56
61.56
Regarding the dividend distributed, Bci sends to its
shareholders a certificate showing the result of this
calculation and other information necessary for completing
their annual tax declaration.
Corporate shareholders in the Bank, obliged to maintain
the Taxed Earnings Register (FUT), should consider that
the dividend distributed in April 2004 comes from taxed
earnings with rights to an income tax credit of 15%,
originated in 1998.
43
Shareholders
Principal Shareholders
The following were the 25 principal shareholders in Banco de Crédito e Inversiones at 31 December 2004:
Name
Shares
% Holding
Empresas Juan Yarur S.A.C.
Jorge Juan Yarur Bascuñán
Soc. Financiera del Rimac S.A.
AFP Provida S.A.for the pension fund
Inversiones BCP Ltda.
AFP Habitat S.A. for the pension fund
AFP Cuprum S.A. for the pension fund
Inversiones Jordan Dos S.A.
Genesis Chile Fund Limited
AFP Santa María S.A. for the pension fund
Tarascona Corporation
AFP Summa Bansander S.A. for the pension fund
Inversiones Millaray S.A.
Inmobiliaria e Inversiones Cerro Sombrero S.A.
Luis Enrique Yarur Rey
Bci Corredor de Bolsa S.A.
Larraín Vial S.A. Corredores de Bolsa
Moneda S.A. Administradora de Fondos de Inversion
AFP Planvital S.A. for the pension fund
Inmobiliaria y Comercial Recoleta Sur Limitada
Modesto Collados Núñez
California Public Employees Retirement System
Inversiones VYR Ltda.
Banchile Corredores de Bolsa S.A.
Inmobiliaria e Inversiones Chosica S.A.
Others (includung staff)
52,772,147
4,177,884
3,434,892
2,835,474
2,504,317
2,464,808
1,992,098
1,974,790
1,737,768
1,529,514
1,456,528
1,448,316
1,182,245
1,084,691
960,652
792,019
735,898
666,000
650,554
585,074
571,416
536,312
526,123
347,953
332,341
11,514,708
53.41
4.23
3.48
2.87
2.53
2.49
2.02
2.00
1.76
1.55
1.48
1.46
1.20
1.10
0.97
0.80
0.74
0.67
0.66
0.59
0.58
0.54
0.53
0.35
0.34
11.65
Subscribed and paid shares
98,814,522
100.00
Shares pending subscription
44
45,788
AUTHORIZED SHARE CAPITAL
98,860,310
Shares in custody with Depósito Central de Valores
18,971,785
19.20
Shares reserved for staff of Bci companies:
Subscribed and paid shares
Shares pending subscription
1,751,205
45,788
1.77
0.05
Total options
1,796,993
1.82
Shareholders' Agreements
Shareholders related to the Yarur family, who at 31
December 2004 held 63.22% of the subscribed and
paid shares, signed a shareholders' agreement dated
30 December 2004 that reaffirms their willingness to
maintain the traditional unity and control of the Bank in
the hands of the Yarur family, reiterating their intention
to preserve the principles on which the management
of the company have been based.
Shareholders related to the Yarur
family signed a shareholders
agreement on 30 December
2004, reaffirming their
willingness to maintain the
traditional unity and control of
the Bank in the hands of the
family.
45