NOTE 24 FEES AND INCOME FROM SERVICES
This item comprises the amount of all commissions accrued and paid in the period, except for those that form an integral part of the effective interest rate of the financial instruments, corresponds mainly to the following items:
a) Commissions income:
This item comprised of the financial income of the period corresponding to remunerations generated by the services rendered by the entity and its subsidiaries mainly with regard to the following items:
| 2017 | 2016 | 2015 | |||||
| MCh$ | MCh$ | MCh$ | |||||
| Lines of credit and overdrafts | 3,306 | 4,911 | 1,537 | ||||
| Letters of credit and guarantees | 14,776 | 13,562 | 5,228 | ||||
| Card services | 63,388 | 52,775 | 24,296 | ||||
| Account administration | 12,024 | 10,171 | 2,014 | ||||
| Collection, billings and payments | 25,359 | 24,813 | 2,271 | ||||
| Management and brokerage commisions for securities | 13,183 | 9,454 | 6,940 | ||||
| Invetsments in mutual funds and others | 25,965 | 23,614 | 11,760 | ||||
| Inssurance brokerage | 26,096 | 21,477 | 6,230 | ||||
| Financial advisory | 8,162 | 8,951 | 5,389 | ||||
| Commissions for student loan credits | 4,680 | 3,354 | 965 | ||||
| Commissions for credit operations | 2,560 | 2,572 | 56 | ||||
| Commissions for mortgage loans | 1,112 | 1,023 | 1,192 | ||||
| Other payments for services rendered | 12,088 | 12,768 | 4,319 | ||||
| Other fees earnes | 3,721 | 4,356 | 9,178 | ||||
| Total income from services fees | 216,420 | 193,801 | 81,375 |
b) Commissions expenses:
This item includes expenses for commissions accrued during the year for operations, with regard to the following items:
| 2017 | 2016 | 2015 | |||||
| MCh$ | MCh$ | MCh$ | |||||
| Credit card transactions | (23,439 | ) | (29,376 | ) | (8,021 | ) | |
| Securities transactions | (4,855 | ) | (3,328 | ) | — | ||
| Commision paid through Chilean clearing house (ACC) | (2,449 | ) | (1,348 | ) | — | ||
| Foreign trade transactions | (1,439 | ) | (1,309 | ) | — | ||
| Customer loyalty program benefits | (3,157 | ) | (3,232 | ) | — | ||
| Loan services to customers | (2,912 | ) | (4,385 | ) | — | ||
| Other paid commissions | (598 | ) | (27 | ) | (2,266 | ) | |
| Total expenses from services fees | (38,849 | ) | (43,005 | ) | (10,287 | ) |
Commissions earned on loans with letters of credit are recorded in the Statement of Income under “Interest income.”