Itaú CorpbancaItaú Corpbanca

1st Quarter 2017 | Earnings ReviewConference Call

Gabriel Moura

Chief Financial Officer

Claudia Labbé

Head of Investor Relations

May 2nd, 2017

Itaú CorpBanca is the entity resulting from the merger of Banco Itaú Chile (Itaú Chile) with and into CorpBanca on April 1, 2016 (“the Merger”). After the Merger, the surviving entity’s name changed to “Itaú CorpBanca”. The legal acquisition of Itaú Chile by CorpBanca is deemed a reverse acquisition pursuant to standard N° 3 of the International Financial Reporting Standards (or IFRS). Itaú Chile (the legal acquiree) is considered the accounting acquirer and CorpBanca (the legal acquirer) is considered the accounting acquiree for accounting purposes. Therefore, in accordance with IFRS after the date of the Merger, Itaú CorpBanca's historical financial information (i) reflects Itaú Chile - and not CorpBanca - as the predecessor entity of Itaú CorpBan-ca, (ii) includes Itaú Chile's historical financial information, and (iii) does not include CorpBanca's historical financial information.

Additionally, after the Merger our investment in SMU Corp S.A. (“SMU Corp”) was no longer considered strategic. Therefore the status of the investment changed to “available for sale” for accounting purposes. In 2016, our management estimated that the sale of Itaú CorpBanca´s investment in SMU Corp was highly likely1. Therefore, in accordance with standard N° 5 of IFRS as of June 30, 2016 SMU Corp ceased to be consolidated in the Financial Statements of Itaú CorpBanca. SMU Corp was a joint venture with SMU S.A. ―SMU is a retail business holding company controlled by CorpGroup― whose sole an exclusive purpose was the issuance, operation and management of “Unimarc” credit cards to customers of supermarkets associated with SMU.

In order to allow for comparison with previous periods, historical pro forma data of the consolidated combined results of Itaú Chile and CorpBanca deconsolidating our subsidiary SMU Corp S.A. (which is no longer considered strategic as of June 30, 2016) and excluding non-recurring events for the periods prior to the second quarter of 2016 is presented in this Management Discussion & Analysis report. The pro forma income statement has been calculated as if the Merger occurred on January 1, 2015. The pro forma information presented here is based on (i) the combined consolidated historical unaudited Financial Statements of each of CorpBanca and Banco Itaú Chile as filed with the “Superintendencia de Bancos e Instituciones Financi-eras” (“SBIF”), (ii) the deconsolidation of SMU Corp unaudited Financial Statements as filed with the SBIF and (iii) the exclusion of non-recurring events.

The pro forma combined financial information included in the MD&A Report is provided for illustrative purposes only, and does not purport to represent what the actual combined results of Itaú Chile and CorpBanca could have been if the acquisition occurred as of January 1, 2015.

1 – On January 30, 2017 Itaú CorpBanca announced the transfer of all of its shares in SMU Corp. S.A.

Disclaimers

Itaú Corpbanca

Agenda

1. 1Q’17 Results

2. Next Steps

0,20

0,21

0,22

0,23

0,24

0,25

0,26

0,27

580

600

620

640

660

680

700

720

740

CLP/USD CLP/COP

Macroeconomic Backdrop

Source: Central Bank of Chile and Central Bank of Colombia. Itaú CorpBanca’s projections

5,8 5,8 5,5

4,0

1,9 2,3

1,6 1,8

2,5

4,0

6,6

4,0

4,9 4,4

3,1

1,8 2,3

2,8

2010 2011 2012 2013 2014 2015 2016 2017(e) 2018(e)

Chile Colombia

3,0

4,4

1,5

3,0

4,6 4,4

2,7 2,8 3,0 3,2 3,7

2,4 1,9

3,7

6,8

5,8

4,1 3,5

2010 2011 2012 2013 2014 2015 2016 2017(e) 2018(e)

Chile Colombia

3,3

5,3 5,0 4,5

3,0 3,5 3,5

2,5

3,3 3,0

4,8 4,3

3,3

4,5

5,8

7,5

5,5

4,5

2010 2011 2012 2013 2014 2015 2016 2017(e) 2018(e)

Chile Colombia

GDP Growth (%) Interest Rates (EOP) - %

Inflation (CPI) - % Exchange rates – CLP/USD & CLP/COP

4

Interest Rate Swap curve

Interest Rate Swap curve

5,0%

5,5%

6,0%

6,5%

7,0%

7,5%

8,0%

3M 6M 18M 2Y 3Y 5Y 7Y 10Y

31-03-2016 30-12-2016 31-03-2017

2,5%

3,5%

4,5%

5,5%

6,5%

7,5%

02

-01

-20

14

02

-03

-20

14

02

-05

-20

14

02

-07

-20

14

02

-09

-20

14

02

-11

-20

14

02

-01

-20

15

02

-03

-20

15

02

-05

-20

15

02

-07

-20

15

02

-09

-20

15

02

-11

-20

15

02

-01

-20

16

02

-03

-20

16

02

-05

-20

16

02

-07

-20

16

02

-09

-20

16

02

-11

-20

16

02

-01

-20

17

02

-03

-20

17

SWAP IBR 1D SWAP IBR 5Y SWAP IBR 10Y

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%

6.0%

1/2/

201

4

3/2/

201

4

5/2/

201

4

7/2/

201

4

9/2/

201

4

11/2

/201

4

1/2/

201

5

3/2/

201

5

5/2/

201

5

7/2/

201

5

9/2/

201

5

11/2

/201

5

1/2/

201

6

3/2/

201

6

5/2/

201

6

7/2/

201

6

9/2/

201

6

11/2

/201

6

1/2/

201

7

3/2/

201

7

Swap 1D Swap 5Y Swap 10 Y

2,5%

3,0%

3,5%

4,0%

4,5%

5,0%

3M 6M 18M 3Y 4Y 5Y 6Y 7Y 8Y 10Y

31-03-2016 30-12-2016 31-03-2017

Macroeconomic Backdrop

5

Managerial Recurring Net Income (Reconciliation)

Non-Recurring Events(a) Restructuring costs: One-time integration costs.

(b) Regulatory / merger effects on loan loss provisions: Effects of one-time provisions for loan losses due to new regulatory criteria in 2016 and additional provisions for overlapping customers between Itaú Chile and

CorpBanca.

(c) Loan loss provisions adjustments: Reversal of additional loan loss provisions to the regulatory minimum and provisions accounted through Price Purchase Alocation against Goodwill.

(d) Amortization of Intangibles from business combinations: Amortization of intangibles generated through business combination, such as costumer relationships.

(e) Accounting adjustments: Adjustments in light of new internal accounting estimates.

(f) Sale / revaluation of investments in companies: Refers to the sale of the participation in Sifin S.A. in 2015 and the revaluation of our stake in Credibanco after its conversion into a joint-stock company in 2016, both in

Colombia. In 2017 refers to the tax effect from the sale of SMU Corp S.A in Chile.

in million of Chilean Pesos 1Q'17 4Q'16 1Q'16 2017 2016

Net Income Attributable to Shareholders (Accounting) 24,414 -51,862 6,138 24,414 6,138

(+) Pro Forma consolidation effects - - -25,939 - -25,939

Pro Forma Net Income Attributable to Shareholders 24,414 -51,862 -19,801 24,414 -19,801

(-) Non-Recurring Events 1,925 2,351 23,139 1,925 23,139

(a) Restructuring costs 1,366 11,033 17,921 1,366 17,921

(b) Regulatory / merger effects on loan loss provisions - 6,321 8,598 - 8,598

(c) Loan loss provisions adjustments - -29,764 - - -

(d) Amortization of intangibles from business combinations 8,690 8,725 3,265 8,690 3,265

(e) Accounting adjustments -2,267 9,670 1,200 -2,267 1,200

(f) Sale / revaluation of investments in companies -3,145 -1,505 - -3,145 -

Tax effects -2,718 -2,129 -7,844 -2,718 -7,844

Recurring Net Income Attributable to Shareholders (Managerial) 26,339 -49,511 3,338 26,339 3,338

6

Managerial Recurring Net Income (Reconciliation) – Chile and Colombia

in million of Chilean Pesos 1Q'17 4Q'16 1Q'16 2017 2016

Net Income Attributable to Shareholders (Accounting) 29,094 -50,065 6,138 29,094 6,138

(+) Pro Forma consolidation effects - - -26,677 - -26,677

Pro Forma Net Income Attributable to Shareholders 29,094 -50,065 -20,539 29,094 -20,539

(-) Non-Recurring Events 3 17,936 22,322 3 22,322

(-) Costs of fiscal and economic hedges of the investment in Colombia 5,157 6,751 4,186 5,157 4,186

Recurring Net Income Attributable to Shareholders (Managerial) 34,254 -25,377 5,969 34,254 5,969

in million of Chilean Pesos 1Q'17 4Q'16 1Q'16 2017 2016

Net Income Attributable to Shareholders (Accounting) -4,680 -1,797 - -4,680 -

(+) Pro Forma consolidation effects - - 738 - 738

Pro Forma Net Income Attributable to Shareholders -4,680 -1,797 738 -4,680 738

(-) Non-Recurring Events 1,922 -15,585 817 1,922 817

(+) Costs of fiscal and economic hedges of the investment in Colombia -5,157 -6,751 -4,186 -5,157 -4,186

Recurring Net Income Attributable to Shareholders (Managerial) -7,915 -24,134 -2,631 -7,915 -2,631

Managerial reclassifications:(a) Cost of Investment Hedge: carry cost of the derivatives used for the economic hedge of the investment in Colombia booked in Chile.

(b) Cost of Fiscal Hedge: cost of the derivative structure used for the fiscal hedge of the investment in Colombia booked in Chile.

7

ROE / ROA – Consolidated

ROE / ROA – Chile

0.9%

12.9%

7.3%

-11.8%

6.4%

0.0%

0.7%0.4%

-0.7%

0.4%

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

2.7%

16.3%12.9%

-7.3%

10.2%

0.1%

1.0% 0.8%

-0.5%

0.7%

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

0.8%

10.7%6.0%

-9.7%

5.3%

0.0%

0.7%0.4%

-0.7%

0.4%

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Annualized Recurring Return on Average Equity (quarterly) Annualized Recurring Return on Average Assets (quarterly)

Recurring ROE / Recurring ROA1

1 – Excludes Goodwill and intangibles assets from business combination.8

Income Statement

in million of Chilean Pesos 1Q'17 4Q'16 % $ 1Q'16 % $

Net interest income 132,411 136,552 -3.0% -4,141 134,205 -1.3% -1,794

Net fee and commission income 32,117 31,637 1.5% 480 30,117 6.6% 2,000

Total financial transactions, net 12,120 -7,192 n.a. 19,312 919 1219.4% 11,202

Other operating income, net -4,497 -4,191 7.3% -306 -5,785 -22.3% 1,287

Net operating profit before loan losses 172,151 156,805 9.8% 15,346 159,457 8.0% 12,694

Provision for loan losses -38,336 -89,143 -57.0% 50,807 -68,391 -43.9% 30,056

Net operating profit 133,815 67,663 97.8% 66,153 91,065 46.9% 42,750

Operating expenses -97,185 -103,800 -6.4% 6,615 -95,992 1.2% -1,193

Operating income 36,630 -36,137 n.a. 72,767 -4,927 -843.4% 41,557

Income from investments in other companies 0 106 n.a. -106 2 n.a. -2

Income before taxes 36,630 -36,031 n.a. 72,661 -4,925 -843.7% 41,555

Income tax expense -2,322 10,678 n.a. -13,000 10,922 n.a. -13,244

Net income 34,308 -25,353 n.a. 59,661 5,997 472.1% 28,312

Net income attributable to shareholders 34,254 -25,377 n.a. 59,631 5,969 473.9% 28,285

Change Change

9

Loan Portfolio

Δ -2.4%

Market share Total Loans (CP$ Trn)

Δ -0.6%

12.1% 12.0% 11.8%11.4% 11.2%

14.7% 14.5% 14.4%13.8% 13.6%

8.8% 8.6% 8.5% 8.4% 8.3%

7.4% 7.2% 7.1% 7.1% 7.1%

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Total Commercial Mortgage Consumer

11.7 11.8 11.7 11.3 11.1

3.3 3.3 3.3 3.4 3.4

1.3 1.3 1.3 1.4 1.4

16.3 16.4 16.3 16.0 15.9

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Commercial Mortgage Consumer

10

Net Interest Margin

2.5%

3.5%3.3%

3.0%

2.8%3.0%

2.8%2.9% 3.0%

2.5% 2.6%2.4% 2.4% 2.3%

2.4% 2.4%2.6%

2.7%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

3,6%

4,2%4,0%

3,8%3,6% 3,7% 3,6% 3,6% 3,6%

3,5% 3,5%3,3% 3,3% 3,3% 3,3% 3,3% 3,3% 3,4%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

2.5%

3.5%3.3%

3.0%2.8%

3.0%2.8%

2.9% 3.0%

2.5% 2.6%2.4% 2.4% 2.3%

2.4% 2.4%2.6%

2.7%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Net Interest Margin Net Interest Margin (ex Indexation)

Chilean Financial SystemItaú CorpBanca

11

Provision for Loan Losses

Provision for Loan Losses ratios (annualized)

Provision for Loan Losses (CLP Bln)

0.6% 0.6% 0.6% 0.4%1.7% 0.7% 0.7% 2.2% 1.0%

13.1% 11.2% 11.1%8.1%

42.9%

16.3% 16.8%

56.8%

22.3%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Provision for Loan Losses / Average Loans Provision for Loans Losses / Net Operating Profit Before Loan Losses

22.8 23.5 24.8 16.8

68.4

28.8 29.4

89.1

38.3

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

12

Credit Quality

CommercialTotal Loans

ConsumerMortgage

1.3% 1.3% 1.4% 1.3% 1.4% 1.4% 1.4% 1.6% 1.8%

3.2% 3.4% 3.3% 3.2%3.9% 3.8% 4.3%

4.9% 4.7%

110% 115% 109% 109%125% 128% 133% 133%

121%

45% 44% 46% 45% 44% 48% 45% 42% 46%

46% 46% 46% 47% 50% 50% 50% 49% 48%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

1.2% 1.2% 1.3% 1.2% 1.2% 1.3% 1.2% 1.3% 1.5%

3.2% 3.4% 3.3% 3.2%4.1% 4.1% 4.5%

5.3% 5.0%

117% 126% 117% 120%141% 147%

162% 168%147%

44% 43% 45% 45% 43% 47% 44% 41% 45%

52% 52% 54% 54% 55% 54% 54% 52% 51%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

1.6% 1.6% 1.6% 1.6% 1.8% 1.8% 1.9% 2.2%2.4%2.5% 2.6% 2.7% 2.8% 3.0% 3.0% 3.2% 3.6% 3.6%

22% 22% 22% 21%

33% 31%28%

25% 25%

14% 13% 14% 13%

19% 18%17%

16%

17%

12% 12%10%

12%

18% 17% 17%

17%

16%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

1.7% 1.7% 1.7% 1.7% 1.8% 1.8% 1.8% 2.1% 2.1%

4.7% 4.9% 4.6% 4.3% 4.3%3.7%

4.5% 4.9% 5.2%

268% 263% 263% 252% 250% 249% 237% 231% 245%

96% 94% 97% 98% 103% 118%98% 99% 98%

85% 81%99% 84% 94% 94% 95% 94% 93%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

1.6% 1.6% 1.6% 1.6% 1.8% 1.8% 1.9%2.5% 2.6% 2.7% 2.8% 3.0% 3.0% 3.2%

22% 22% 22% 21%

33% 31% 28%

14% 13% 14% 13%

19% 18% 17%

12% 12% 10%12%

18% 17% 17%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16

NPL90 (%) Cartera deteriorada % NPL90 Coverage Ratio Cartera Deteriorada Coverage Ratio Cartera Deteriorada Coverage Ratio (Financial System)

13

14

Credit Quality – NPL Creation1

2.2 6.6

24.8

2.9

16.8 18.0

0.5

13.1

33.3

0.1% 0.2%

0.9%

0.1%0.6%

0.6%

0.0%0.4%

1.2%0.9%

0.6%

0.6%

0.5%1.0%

0.1%

0.5% 0.7%

1.2%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q17

12.5 13.7 14.1 14.8 15.6 14.9 15.5 21.0 19.1

3.9%4.3% 4.5% 4.6% 4.7% 4.5%

4.8%

6.5%

5.6%

6.1%5.8% 5.6%

6.8%

5.4%5.9% 5.8%

6.2%

6.8%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q17

17.3 22.2

40.5

20.3

37.4 33.8

22.1

45.8

60.4 0.5% 0.6%1.0%

0.5%0.9%

0.8%

0.5%1.1%

1.5%

1.5%1.2% 1.1% 1.1%

1.6%

0.7%

1.2% 1.3%1.9%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q17

2.7 1.9 1.5 2.6 5.0 0.9

6.1 11.7

8.1

0.3%

0.2%

0.2%

0.3%0.6%

0.1%

0.7%

1.4%1.0%

0.2%

0.5%

-0.2%

0.4%0.6%

0.0% 0.2%0.8% 0.6%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q17

17.3 22.2

40.5

20.3

37.4 33.8 22.1

45.8

60.4 0.5% 0.6%

1.0%0.5% 0.9%

0.8%

0.5%1.1% 1.5%

1.5% 1.2% 1.1% 1.1% 1.6%

0.7%

1.2% 1.3% 1.9%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q17

NPL Creation (Ch$ MM) NPL Creation / Loans (annualized) NPL Creation / Loans (annualized) - Chilean Financial System

1 – NPL Creation: NPL90 balance + write-offs.

CommercialTotal Loans

ConsumerMortgage

Operating Expenses

6,6146,215 6,195 6,153 5,931 5,930

Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17

# Branches# Employees

-684 (-10.3%)

127 127 127 12595 95

97 97 97 99129 129

Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17

CorpBanca / Banco Condell Branches Itaú Branches

in million of Chilean Pesos 1Q'17 4Q'16 1Q'16

Personnel Expenses (44,532) (45,237) 705 -1.6% (48,544) 4,012 -8.3%

Administrative Expenses (45,756) (51,292) 5,536 -10.8% (41,102) (4,654) 11.3%

Personnel and Administrative Expenses (90,288) (96,529) 6,241 -6.5% (89,647) (642) 0.7%

Depreciation, amortization and Impairment (6,897) (7,270) 374 -5.1% (6,346) (551) 8.7%

Total Operating Expenses (97,185) (103,800) 6,615 -6.4% (95,992) (1,193) 1.2%

change change

15

Income Statement

in million of Chilean Pesos - constant currency1 1Q'17 4Q'16 % $ 1Q'16 % $

Net interest income 54,893 56,346 -2.6% -1,453 61,903 -11.3% -7,010

Net fee and commission income 10,210 11,180 -8.7% -970 13,478 -24.3% -3,269

Total financial transactions, net 18,730 17,657 6.1% 1,073 17,186 9.0% 1,544

Other operating income, net -3,529 -2,898 21.8% -631 -643 n.a. -2,886

Net operating profit before loan losses 80,303 82,285 -2.4% -1,982 91,925 -12.6% -11,621

Provision for loan losses -38,469 -55,726 -31.0% 17,257 -42,624 -9.7% 4,154

Net operating profit 41,834 26,559 57.5% 15,275 49,301 -15.1% -7,467

Operating expenses -51,112 -52,349 -2.4% 1,238 -46,034 11.0% -5,077

Operating income -9,278 -25,790 -64.0% 16,512 3,267 -384.0% -12,544

Income from investments in other companies 189 3 n.a. 186 534 -64.6% -345

Income before taxes -9,089 -25,787 -64.8% 16,698 3,801 n.a. -12,889

Income tax expense 4,755 -1,609 n.a. 6,364 -1,369 n.a. 6,124

Net income -4,333 -27,396 -84.2% 23,062 2,432 n.a. -6,765

(-) Minority Interests 1,471 9,242 -84.1% -7,771 -806 n.a. 2,277

(-) Cost of hedge position for Colombia -5,157 -6,751 -23.6% 1,594 -4,186 23.2% -971

Net income attributable to shareholders -8,020 -24,905 -67.8% 16,885 -2,561 213.2% -5,459

Change Change

1 – Considers the elimination of foreign exchange variation, which is obtained by the application of the foreign exchange rate of March 31st, 2017 to all periods analyzed. 16

Loan Portfolio

Total Loans – in constant currency¹ (CP$ Trn)

6.0% 5.9% 5.8%

5.4% 5.4%

6.9% 6.8% 6.8%

6.2% 6.2%

4.9% 4.8% 4.7% 4.7% 4.7%

4.7%4.5%

4.4%4.2% 4.2%

1Q'16 2Q'16 3Q'16 4Q'16 Feb-17

Total Commercial Mortgage Consumer

1 – Considers the elimination of foreign exchange variation, which is obtained by the application of the foreign exchange rate of March 31st, 2017 to all periods analyzed.

3.6 3.6 3.6 3.5 3.5

0.5 0.5 0.50.5 0.6

1.1 1.2 1.2 1.2 1.2

5.3 5.3 5.3 5.2 5.2

5.1 5.2 5.35.0

5.2

1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Commercial Mortgage Consumer Total Loans (nominal currency)

Δ -2.4%

Δ +0.1%

Market share

17

Net Interest Margin¹ (NIM)

YoY

+119 bp

-1 bp

-87 bp

QoQ

-40 bp

+20 bp

+66 bp

3.7%4.4% 3.9% 3.5% 3.2% 3.2% 3.3% 3.5%

7.9%8.4% 8.2% 8.7% 9.1%

9.9% 10.3% 9.9%

-3.9% -3.8% -4.2%-4.9%

-5.6%-6.4% -6.5%

-5.8%

1Q15 2Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

Net Interest Margin (NIM) Interest Income / Avg.Interest Earning Assets Interest Expense / Avg. Interest Bearing Liabilities

1 – Considers the elimination of foreign exchange variation, which is obtained by the application of the foreign exchange rate of March 31st, 2017 to all periods analyzed. 18

Provision for Loan Losses1

2.1% 2.4% 2.3% 2.8% 3.2% 2.2% 2.8% 4.2% 3.0%

24.3%29.0% 29.0%

34.3%

46.4%

32.5%

44.3%

67.7%

47.9%

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

Provision for Loan Losses / Average Loans Provision for Loans Losses / Net Operating Profit Before Loan Losses

1 – Considers the elimination of foreign exchange variation, which is obtained by the application of the foreign exchange rate of March 31st, 2017 to all periods analyzed.

Provision for Loan Losses ratios (annualized)

Provision for Loan Losses (CLP Bln)

25.1 30.0 29.9

37.2 42.6

29.2 36.4

55.7

38.5

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17

19

Itaú Corpbanca

Agenda

1. 1Q’17 Results

2. Next Steps

Digital Banking

Digital Banking

# sales

$ sales

Share of sales on digital channels / total retail sales

3%

12%

3% 4% 5% 6%11%

14%

23% 25% 24%

8%

17%10% 12%

16% 15%19%

26%

38% 41% 42%

Use of Digital Channels

78%Clients that use

Internet Banking(min 1 access / month)

62% Clients that make

web Transactions

36%Clientes that use

Mobile App(min 1 access / month)

24% Clients that make

app Transactions

% of Individuals Clients

Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17

Clients that use the Itaú App

+45%

Itaú App Usage

21

Next Steps

Chile

• Completion of branch migration and client segmentation (dec.2017)

• Focus on topline and client satisfaction

• Focus on digital strategy

• Implementation of synergies

Colombia

• Introduction of the Itaú brand (may.2017)

• Completion of systems integration (jun.2018)

• Redefining business models for wholesale and retail

22

Itaú CorpbancaItaú Corpbanca

1st Quarter 2017 | Earnings ReviewConference Call

Gabriel Moura

Chief Financial Officer

Claudia Labbé

Head of Investor Relations

May 2nd, 2017