ANNUAL REPORT 2017
EXPLORE OUR PERSPECTIVES

NOTE 2. INVESTMENTS AND LOANS DUE FROM SUBSIDIARIES

Investments in subsidiariesLoans due from subsidiariesTotal
Balance January 1, 20161,669,91053,2701,723,180
Net result of subsidiaries134,178134,178
Other comprehensive income investments(1,344)(1,344)
Dividend received(45,982)(45,982)
Capitalizations3,4003,400
Dilution2,8142,814
Foreign currency translation effect38,5241,60740,131
Balance December 31, 20161,801,50054,8771,856,377
Net result of subsidiaries453,309453,309
Other comprehensive income investments(2,844)(2,844)
Dividend received(728,997)(728,997)
Capitalizations422422
Disposal of investments(80)(80)
Reclassification to current assets(1,892)(1,892)
Dilution606606
Foreign currency translation effect(150,846)(6,122)(156,968)
Balance December 31, 20171,373,07046,8631,419,933

Interest relates mainly to a subsidiary and is based on the Bank of America's prime rate with a rise of two percent points. The repayment schedule of the loan is as follows: 24 annual installments of US$2 million, starting December 31, 2018, followed by a final installment of US$5.3 million on December 31, 2043.