Exhibit 1.1



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BANCO DE CHILE

BY LAWS

TITLE I

NAME, DOMICILE AND DURATION OF THE COMPANY

Article One:

A company is hereby created which shall do business under the name of
BANCO DE CHILE, and shall be governed by these bylaws, by the General Banking Law, and by any other legal and statutory rules currently in effect or to be enacted in the future that may be applicable to it.

Article Two:

The company shall have its
corporate domicile in the city and commune of Santiago, without prejudice to any other branches or agencies that it may establish in Chile or abroad, pursuant to the Law. Its Board of Directors shall meet, and its General Management shall operate in
the city and commune of Santiago, where its Headquarters or Main Office shall be established.

Article Three:

The term of duration of the company shall be indefinite.

TITLE II

PURPOSE AND OPERATIONS OF THE COMPANY

Article Four:

The Bank shall be engaged
in performing any kind of acts, enter into any kind of contracts, carry out any kind of business, and transactions usually authorized to be performed and carried out by banking institutions under the General Banking Law , without prejudice to
expanding or restricting its scope of action consistent with legal rules currently in full force and effect or to be enacted in the future.

TITLE III

CAPITAL AND
STOCK

Article Five:

The Banks capital is CH$ 1,759,994,216,261 divided into 91,977,302,953 nominative shares with no par value, which are fully subscribed and paid-up
in accordance with the First Transitional Article, divided into 88,037,813,.511 common shares and 3,939,489,442 common shares series Banco de Chile-T.



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Article Six:

The company shall maintain a Shareholders Registry.

TITLE IV

MANAGEMENT

7thArticle:

Management of the Bank shall be exercised by a Board of
Directors, which shall represent it judicially and extra-judicially, for the achievement of the corporate purpose, a fact that shall not have to be proven to third parties. It is vested with all powers to manage and dispose which the law or these
bylaws do not establish as exclusive to the Shareholders Meeting, and it is also empowered to perform such acts and enter into any kind of agreements or contracts with respect to which the laws require a special power of attorney. The foregoing is
without prejudice to the powers of the General Manager. Directors shall be compensated for their services, and the amount of such compensation shall be set at the Shareholders Meeting.

Article Eight:

The Board of Directors shall consist of eleven regular directors
(Directores Titulares) and two alternate directors (Directores Suplentes), whether or not shareholders, elected by the respective Shareholders Meeting, all of whom shall hold offices for three years, and
may be reelected indefinitely. The election of directors shall be undertaken in a single vote, and those receiving the greatest number of votes shall be elected until the number of directors who must be elected is reached. Likewise, separately, in a
single vote, alternate directors shall be elected.

The Board of Directors elected by shareholders may only be removed in its entirety by the
resolution adopted at an Ordinary or Extraordinary Shareholders Meeting, and therefore individual removal is not allowed.

Alternate
directors may always participate at the meetings of the Board of Directors with right to speak, and they shall only have right to vote in case of a temporary absence of the director/s they replace. The person who received the greatest number of
votes among the alternates shall be the first alternate director, and the second alternate director shall be the one who received the second greatest number of votes. In the case of a temporary absence of one or more directors, they may be replaced
temporarily by the alternate directors in the order of precedence established in the bylaws.

In the case of a vacancy of one or more regular
directors (Directores Titulares), for any reason, vacancies shall be filled as follows:



|a) | Vacancies of directors shall be filled by alternate directors in the aforementioned
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| | order of precedence, except if the respective alternate director in a period of three business days calculated from the giving of notice thereof, states in writing his intention to continue
acting as an alternate director; and
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|b) | If vacancies occur among regular directors which were not filled in the manner established in letter a) above, the Board of Directors, at the first meeting it
holds, shall proceed to name the relevant successor or successors, who shall hold office until the next Ordinary Shareholders Meeting is held, at which time the final appointment shall be made. The director or directors so named by the Shareholders
Meeting shall remain in office only during the period of time remaining to complete the term of office of the replaced director or directors.
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In the case of a vacancy of one or more alternate director for any cause, the Board of Directors, at the first meeting it holds, shall proceed to name the replacement or replacements, who shall hold
office until the next Ordinary Shareholders Meeting, at which time the final appointment shall be made. The alternate director or directors so named by the Shareholders Meeting shall remain in office only during the period of time remaining to
complete the term of office of the replaced director or directors. In the event the Board of Directors names a replacement for an alternate Director, the designee shall have the same order of precedence as the replaced alternate director.

Article Nine:

Meetings of
the Board of Directors shall be held with the attendance of no fewer than six of its regular or alternate members, and resolutions shall be adopted by an absolute majority of directors attending with right to vote. In case of a tie, the chairman of
the meeting shall have a casting vote.

Article Ten:

Meetings of the Board of Directors shall be ordinary or extraordinary. Ordinary meetings shall be those that are held on the dates and at the times established in advance by the Board of Directors, at
least once per month. Extraordinary meetings shall be held when specially called by the President, himself, or at the direction of one or more directors. If the extraordinary meeting has been called by one or more Directors, the meeting shall be
held between the fifth and seventh business day thereafter. Notices of Extraordinary meetings shall be given by certified mail posted, at least, four business days in advance, or two business days if respective notice has been delivered through a
Notary Public or by the respective Chilean Consul if the Director is domiciled outside Chile. Likewise, for this type of Notices and together with the delivery of the aforesaid letter or by posting in the mail a copy of the Notice shall be forwarded
by electronic mail. A Notice of an Extraordinary meeting shall contain a reference to the matter to be dealt with, and the Notice may be omitted if all full members of the Board of Directors unanimously attend thereat

Article Eleven:

At
the first meeting held by the Board of Directors, after the Shareholders Meeting that appointed it, the Board of Directors shall choose its Chairman and two Vice Chairman, and these persons shall also serve in the same roles for the company.
The Secretary of the Board of Directors shall also be appointed at that same meeting.



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Article Twelve:

Directors who, with regards to a specific transaction, have an interest themselves or as representatives of another person, shall report such interest to the other directors and refrain from deliberating
and voting.

Article Thirteen:

All elections of directors shall be published in a newspaper in the Banks domicile and shall be reported to the Superintendency of Banks and
Financial Institutions, to which shall be sent an authorized copy of the public deed prepared from the Minutes of the Shareholders Meeting or the meeting of the Board of Directors where the appointments have been made. The appointment of a General
Manager shall likewise be reported to the aforementioned Superintendency and be documented in a public deed.

TITLE V

PRESIDENT

14thArticle:

The President of the Bank, beyond the other powers granted to him by these bylaws or by Law, shall have the following powers and
obligations, to wit:

One)shall preside over meetings of both the Board of Directors and Shareholders ;

Two)shall call meetings of the Board of Directors;

Three)shall propose to the Board of Directors measures aiming at furthering the business of the Bank and improving the organization and regime of all aspects of the offices.

Four)shall sign all reports and notes or resolutions adopted by the Board of Directors and the Shareholders at the relevant Meetings; and

Five)Unless otherwise agreed upon by the Shareholders Meeting or the Board of Directors, if applicable, he shall sign the public deed
containing the Minutes of the meetings of the former or the latter.

Article Fifteen:

In case of absence or incapacity of the President of the Bank, he shall be replaced in by the Vice President appointed, for this purpose, by the Board of
Directors. Likewise, in case of absence or incapacity of the appointed Vice President, he shall be replaced by the Director appointed by the Board of Directors, for such purpose. The replacement is an internal procedure of the company and shall not
require any formality and it shall not be necessary to prove its appropriateness to third parties for the validity of acts performed by the successor, the mere fact of the successors acting being sufficient for the effectiveness thereof.



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TITLE VI

GENERAL MANAGER

Article Sixteen:

The General Manager is responsible for:

One)Leading and performing the general transactions of the Bank, making its acts conform to the laws, regulations, bylaws, and resolutions of the
Board of Directors;

Two)Beyond the authorities corresponding to him as a business agent by reason of his position, he shall have
general agency ??? for the Bank at all its offices, with express authority to revoke such powers of attorney as may have been granted at any time. In the legal sphere, beyond the authorities granted to him by the first section of Article Seven of
the Civil Procedure Code, he shall have the special power to abandon actions filed in the first instance; accept counterclaims; answer interrogatories; waive appeals or legal terms; approve Agreements; settle; grant powers to arbitrators; and
receive money. Settlements and arbitration agreements made by the Board of Directors shall be signed by the General Manager, with no requirement beyond inserting the pertinent part of the Minutes authorized by the Secretary in the respective public
deed or private document. He may also, in any case, and without prejudice to the powers of the President, sign public deeds or contracts agreed by the General Shareholders Meeting or the Board of Directors, with no requirement beyond the
aforementioned, provided that they must be ?? or it is agreed that they shall be made public deeds;

Three)Appointing such Managers to
be named for the proper performance of the company business;

Four)Granting powers of attorney or delegate all or part of his
authorities to other persons for special cases or business;

Five)Reporting to the Board of Directors on the handling, management, and
financial condition of the Bank in the manner and at the time it and/or the Superintendency of Banks and Financial Institutions may determine;

Six)Attending meetings of the Board of Directors with a right to speak; and

Seven)Performing other functions decided by the Board of Directors and, in general, exercise any other functions which appertain to him pursuant to the Law and these bylaws. In case of temporary
absence or inability, the General Manager shall be replaced by the Manager designated by the Board of Directors.



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TITLE VII

SHAREHOLDERS MEETINGS

Article Seventeen:

Shareholders shall hold ordinary or extraordinary meetings. The former shall be held once a year, within the four-month period following the date of the
close of the fiscal year. At those meetings the shareholders shall review all matters that are proper for them to consider, without being limited to the matters described in the respective notice of the meeting. The latter may be held at any time,
to decide on any matters that the law or these Bylaws authorize the shareholders meetings to transact and provided that such matters are specified in the corresponding notices.

Article Eighteen:

The resolutions passed at properly called and convened Shareholders
Meetings pursuant to the law and the bylaws shall bind all shareholders. Shareholder Meetings shall be held in the city of Santiago.

Article Nineteen:

At the elections that are to be held at the Meetings, the votes will be
cast by means of ballots which will be distributed for such purpose. The shareholders should indicate their preference by writing down name and surname of the individual or individuals they vote for and indicate the number of shares they wish to
allocate to each of the nominees in their votes, for electing both regular and alternate directors, and they should sign them. When counting the votes, the President shall read the votes aloud in order for all attendees to be able to perform for
themselves the calculation of the voting and thus verify the results with such annotation and ballots. Likewise, the counting of the votes may also be carried out by a notary public as an officer certifying the authenticity of the results and the
calculation of the votes cast, all of which will be registered in the minutes of the meeting. In all cases, the Meeting of Shareholders at which elections take place, the President of the Corporation or the Superintendency of Banks and Financial
Institutions, as applicable, may alternatively or indistinctly hold or order a viva voce voting or through ballots or by means of any other procedure indicated for such a purpose.

Article Twenty:

If
any of the persons who must sign Minutes of the Shareholders Meeting should die, be absent, or unable for any reason to sign it, a note shall be made at the end of the Minutes stating the respective circumstances of the impediment.

Article Twenty-One:

The Minutes shall
contain an extract of the resolutions adopted at the meeting. Only upon unanimous consent of the attendees may the evidence of any event occurring at the meeting, and which is related to the interests of the company, be deleted.

TITLE VIII

ANNUAL REPORT
AND BALANCE SHEET

Article Twenty-Two:

The Bank shall prepare its General Balance Sheet annually as of December thirty-first.



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Article Twenty-Three:

The Board of Directors shall submit for consideration at the Ordinary Shareholders Meeting, a reasoned Report on the financial condition of the company over the last fiscal year, accompanied by the
General Balance Sheet, the Statement of Profit and Loss, and the Report of the External Auditors. Each of the shareholders registered in the Registry, who hold a minimum number of shares authorized by the Superintendency of Banks and Financial
Institutions shall be sent a copy of the Balance Sheet and the Management Report, including the opinion of the Auditors and their respective annotations, which documents shall be sent on a date not later than that of the first notice for the
respective Ordinary Meeting.

TITLE IX

DISSOLUTION AND LIQUIDATION

Article Twenty-Four:

The Company shall be dissolved by resolution adopted in that regard at an Extraordinary Shareholders Meeting, approved by the Superintendency of Banks and
Financial Institutions in the manner stipulated by law, and for any other legal causes. The aforesaid is without prejudice to that established in Title Fifteenth of the General Banking Law.

Article Twenty-Five:

Once the voluntary dissolution mentioned in the preceding article has
been agreed upon, the Shareholders Meeting shall elect a Liquidation Committee consisting of three members to proceed wind up the Company, who shall have the powers, obligations, and responsibilities stipulated in the law, and who shall comply with
the provisions of the Chilean Corporations Law and its Regulations. The Shareholders Meeting shall establish the duration of the functions of the Liquidation Committee, and shall determine the compensation to be paid to its members.

TITLE X

AUDITING THE
MANAGEMENT

Article Twenty-Six:

The Ordinary Shareholders Meeting shall annually appoint independent external auditors to examine the accounting, inventory, balance sheets, and financial statements of the company, and who shall have the
obligation to report in writing to the next Ordinary Shareholders Meeting on the performance of their duties.



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TITLE XI

JURISDICTION

Article Twenty-Seven:

Differences that arise among shareholders in their capacity as such, or between them and the Company or its managers, either during the life of the
Company or during its liquidation, shall be submitted for resolution to an arbitrator who shall have the ability to establish procedural rules for the proceeding and who shall be bound by the law as to decisions on the merits of the case, who must
be named by joint agreement of the parties or by the Ordinary Courts, alternatively, in case of a disagreement on his appointment. The award to be rendered by the arbitrator shall be subject to a motion for appeal and cassation on the merits. Such
arbitrator shall be, or have been, at the time of the appointment, an attorney who is or has served as an auxiliary judge on the Court of Appeals of Santiago or the Supreme Court, for no less than one year. The arbitration established in this clause
is without prejudice to, if a conflict occurs, the petitioners being able to remove the matter from the jurisdiction of the arbitrator and submit it for a decision by the ordinary courts.

TRANSITIONAL ARTICLES

First
Transitional Article:

The Banks capital is CH$1,759,994,216,261, divided into 91,977,302,953 nominative shares with no par value,
divided into 88,037,813,511 common shares and3,939,489.442 common shares series Banco de Chile-T, which are subscribed and paid-up as follows :

a) With the sum of $1,509,994,216,261 divided into 88,037,813,511 nominative shares with no par value, which corresponds to the subscribed and paid capital of Banco de Chile on March 22, 2012.

TRANSITIONAL ARTICLES

First Transitional Article:

The
Banks capital is CH$1,759,994,216,261, divided into 91,977,302,953 nominative shares with no par value, divided into 88,037,813,511 common shares and3,939,489.442 common shares series Banco de Chile-T, which are subscribed
and paid-up as follows :

a) With the sum of $1,509,994,216,261 divided into 88,037,813,511 nominative shares with no par value, which
corresponds to the subscribed and paid capital of Banco de Chile on March 22, 2012.

b) The sum of $ 250,000,000,00 corresponding to the
capital increase agreed upon at the Extraordinary Shareholders Meeting held on 17 October 2012, by the issuance of 3,939,489,442 cash common shares, without face value, which shall be firstly offered to the shareholders in proportion to
the shares registered in their names in the Register Book of Shareholders at 12.00 a.m. on the fifth business day prior to the initial date of the first refusal right period that may be relevant. Cash payment shares to be issued shall be common
shares series Banco de Chile-T and shall have the same rights as the other shares of Banco de Chile, except that they shall not entitle their holders to receive any dividends and/or released shares, as the case may be, corresponding to
liquid profits to be distributed corresponding to FY2012. Once such dividends and/or released shares have been distributed and paid Banco de Chile-T shares shall be automatically converted into Banco de Chile shares.



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OPTIONS FOR THE SUBSCRIPTION OF SHARES.

As provided for in Section 30 of Law No. 19,396 and the bylaws of the Parent Company of Banco de Chile SA, SM-Chile SA and the Management
Company of the Subordinated Obligation SAOS SA, the subscription rights for the shares issued by Banco de Chile owned by such companies are to be exercised as follows: a) Subscription options corresponding to SM-Chile SA by virtue of which the
shares in such company shall be preferably offered to the shareholders of such company as established in its bylaws.

b) subscription options
corresponding to the shares owned by the Managing Company of the Subordinated Obligation SAOS S.A., pledged in favor of Banco Central de Chile shall be sold by it within a special period and preferably offered to shareholders of SM-CHILE S.A. as
established in its bylaws.

PREFERRED OFFER PERIODS / RIGHTS OF FIRST REFUSAL PERIODS

Consequently, shareholders of Banco de Chile, including shareholders of SM-CHILE S.A. with regard to those shares not pledged in favor of Banco Central de
Chile, and/or its assignees, may exercise their right of first refusal by subscribing and paying-up for those shares corresponding to them within the term of 30 days from the date of publication of the relevant notice in the newspaper El
Mercurio of Santiago, according to the provisions set forth in section 26 of the Reglamento de Sociedades Anónimas (Stock Corporations Regulations) hereinafter referred to as the ordinary first refusal
period).

Once the ordinary first refusal period offer period has concluded and no later than 15 days following such expiration, Banco
Central de Chile in accordance with the provisions set forth in Section 30 of Law No. 19,396, shall set the price for the sale of the subscription options for the shares corresponding to those shares pledged by SAOS in favor of Banco
Central de Chile.

Then, in a special first refusal period which will run for a period of 30 days from the date of publication of
the relevant notice in the newspaper El Mercurio of Santiago, in accordance with the provisions set forth in Section 26 of the Reglamento de Sociedades Anónimas (Stock Corporations Regulations), shareholders of SM Chile
S.A. may exercise their first refusal right for those shares in SAOS pledged in favor of Banco Central de Chile, by paying the market price set by Banco Central de Chile, and therefore they may subscribe and pay-up for the respective shares within
such special period referred to above.

GENERAL SUBSCRIPTION CONDITIONS FOR CASH SHARES.

Each share in Banco de Chile shall be entitled to subscribe for 0.04474769744 new cash shares that the shareholder registers in its own name at midnight
on the fifth business day prior to the commencement of the first refusal period.

The shareholders omission to subscribe within the
applicable first refusal period shall be construed as a waiver of such first refusal right. Shares shall be subscribed for and paid-up in cash during the periods referred to above. Should such payment be made by check or vale vista (bank check), the
obligation to pay the subscription price for the shares shall be deemed extinguished upon the issuing Bank actually collecting the respective amounts.



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REMAINING SHARES OF THE ORDINARY FIRST REFUSAL PERIOD.

Should 100% of the new shares not be subscribed for during the ordinary first refusal period because the shareholders have failed to exercise or waived
their first refusal right, or as a consequence of the existence of fractional shares upon apportionment thereof among the shareholders, the Shareholders Meeting shall offer the remaining shares to third parties at market value, as and when
determined by the Board of Directors, as often as necessary, provided that the placement price not be lower than or other conditions be more favorable than those offered to the shareholders in the relevant first refusal period. The restrictions on
the price and conditions mentioned above shall be valid for the term of 30 days from the expiration of the ordinary first refusal period, so that after the expiration of such period, the aforementioned restrictions shall not apply.

REMAINING OPTIONS AND SHARES OF THE SPECIAL FIRST REFUSAL PERIOD.

Moreover, should 100% of the new shares not be subscribed for during the special first refusal period because the shareholders have failed to exercise or waived their first refusal right, or as a
consequence of the existence of fractional shares upon apportionment thereof among the shareholders, the Shareholders Meeting may offer the remaining shares to third parties at market value, as and when determined by the Board of Directors, as
often as necessary, provided that the placement price not be lower than or other conditions be more favorable than those offered to the shareholders in the relevant first refusal period.

In any case, the capital increase subscription options referred to in the preceding paragraph shall be sold within six months from the expiration of the special first refusal period.

Those shares corresponding to the remaining options of the special first refusal period in respect of which the first refusal right has been exercised
shall be subscribed and paid-up in cash within five trading days from the acquisition of the respective option.

Shares not subscribed for and
paid-up after the acquisition of the respective option may be sold by trading them on any stock exchange, as often as necessary, as long as the price is not lower placement or other conditions are more advantageous to those offered to the
shareholders at the special preferential offering period. The restrictions on the price and conditions mentioned above shall be valid for the term of 30 days from the expiration of the special first refusal period, so that after the expiration of
such period, the aforementioned restrictions shall not apply. Likewise, shares may be sold by trading them on any stock exchange provided that the respective options not be sold during the term of six months.

PLACEMENT PRICE.



|a) | The placement price of cash shares for first refusal periods shall be finally fixed by the Board of Directors within 180 days following the date of the Meeting, taking
into account the market value of the share in Banco de Chile and, in any case, it may not be lower or greater by 8% than the weighted average price as of the closing of business of the last 30 trading days, in compliance with the report prepared by
the Santiago Stock Exchange, less any distributable liquid profit per share accumulated as of the last day of the month prior to the determination date.
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|b) | Such price shall also be applied to the sale on the stock exchange of the remaining shares under the ordinary first refusal period and for the subscription of the
remaining shares under the special first refusal period, the options of which are traded on the stock exchanges for the term of 30 days following the expiration date of each of the first refusal periods.
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|c) | Shares not subscribed and paid during the special first refusal period, after having sold the respective options during the period of six months provided for in section
30 of Law No. 19,396, may be traded on the stock exchanges, at the market price fixed by the Board of Directors.
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|d) | Likewise, those shares the options of which have not been sold during the 6-month period referred to above, may be traded on the stock exchanges at the market price
fixed by the Board of Directors.
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The offer in both first refusal periods or in any others authorized by the Shareholders
Meeting shall abide by the rules enacted by the Superintendency of Banks and Financial Institutions and to the resolutions adopted by Banco Central de Chile in accordance with the provisions set forth in Law No. 19,396 and any other laws and
regulations applicable thereto.

The approved capital increase shall be totally subscribed and paid-up no later than three years after the
date of the Shareholders Meeting. Upon expiration of such term, it shall be understood that the capital stock shall be reduced to the amount actually paid-up, and the manager of the company shall place on record such capital abatement as a
matter of law evidenced by means of a public deed recorded on the margin of the corporate registration within 60 days thereafter.

The Board
of Directors was authorized, with power to delegate to any individuals and as often as necessary, to enter into any agreements, instruments and contracts, regardless of their denomination, with individuals or corporations, either domestic or
foreign, that may be appropriate or necessary to place the shares of the new issuance of Banco de Chile, in any of the ways indicated above.

The Board of Directors was authorized to determine the occasions, ways, conditions and other formalities and procedures required to implement the capital
increase approved by this Shareholders Meeting, through the issuance of cash shares, as well as the performance of any acts, execution of any agreements and/or contracts concerning first refusal rights according to the applicable law,
statutory rules and the bylaws of the company.

Second Transitional Article:

At the Extraordinary Meeting of Shareholders of the Banco de Chile, held on December 27, 2007, the merger through incorporation of Citibank Chile as an absorbed corporation into Banco de Chile as the
absorbing corporation was agreed and approved. Such Meeting resolved that such merger shall become in full force and effect as of January 1, 2008 and that Banco de Chile should be the legal successor of Citibank Chile to all effects. As a
consequence of the merger 100% of the shareholders and capital of Citibank Chile will form part of Banco de Chile. Consequently, by virtue of such merger , and once it has been implemented, Citibank Chile will be dissolved.

Third Transitional article:

The
Ordinary Meeting of Shareholders of the Bank should be held no later than March thirty-first of each year.

Forth Transitional article:

The distributable net income will be determined by subtracting or adding to net income, the correction of the value of the paid-in capital
and reserves according to the variation



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of the Consumer Price Index between November of the previous fiscal year to November of the corresponding fiscal year. The difference between the net income and the distributable net income shall
be registered in a reserve account since the first day of the following fiscal year. The reserve account that it is created by means of this transitional article cannot be distributed or capitalized. This transitional article shall be in force until
the obligation of Law N° 19.396 owed by Sociedad Matriz del Banco de Chile S.A. directly or through its subsidiary Sociedad Administradora de la Obligación Subordinada SAOS S.A. has been fully paid.