NOTE 26
FEES AND COMMISSIONS
This item includes the amount of fees earned and paid during the year, except for those which are an integral part of the financial instrument’s effective interest rate:
| For the years ended December 31, | |||||
| 2017 | 2016 | 2015 | |||
| MCh$ | MCh$ | MCh$ | |||
| Fee and commission income | |||||
| Fees and commissions for lines of credits and overdrafts | 7,413 | 5,754 | 6,597 | ||
| Fees and commissions for guarantees and letters of credit | 33,882 | 35,911 | 35,276 | ||
| Fees and commissions for card services | 201,791 | 195,566 | 175,262 | ||
| Fees and commissions for management of accounts | 31,901 | 31,540 | 30,291 | ||
| Fees and commissions for collections and payments | 44,312 | 31,376 | 30,399 | ||
| Fees and commissions for intermediation and management of securities | 10,090 | 9,304 | 10,000 | ||
| Insurance brokerage fees | 36,430 | 40,882 | 39,252 | ||
| Office banking | 15,669 | 14,145 | 15,224 | ||
| Fees for other services rendered | 43,123 | 38,038 | 35,978 | ||
| Other fees earned | 30,947 | 28,668 | 24,621 | ||
| Total | 455,558 | 431,184 | 402,900 | ||
| For the years ended December 31, | |||||
| 2017 | 2016 | 2015 | |||
| MCh$ | MCh$ | MCh$ | |||
| Fee and commission expense | |||||
| Compensation for card operation | (149,809) | (143,509) | (129,196) | ||
| Fees and commissions for securities transactions | (858) | (946) | (1,315) | ||
| Office banking | (15,283) | (14,671) | (15,320) | ||
| Other fees | (10,545) | (17,634) | (19,442) | ||
| Total | (176,495) | (176,760) | (165,273) | ||
| Net fees and commissions income | 279,063 | 254,424 | 237,627 | ||
The fees earned in transactions with letters of credit are presented in the Consolidated Statement of Income in the line item “Interest income”.