Insurance Journal  Dec 19  Comment 
Boston Children’s Hospital (BCH) has agreed to pay $40,000 and take steps to prevent future security violations following allegations related to a data breach that affected patient information, Massachusetts Attorney General Martha Coakley...
SeekingAlpha  Aug 3  Comment 
Banco de Chile (NYSE:BCH) Q2 2014 Earnings Conference Call July 31, 2014 11:30 a.m. ET Executives Victoria Gabens – Investor Relations Pablo Mejia – Head of Investor Relations Analysts Chris Delgado – JP Morgan Jose...
Benzinga  Jan 31  Comment 
Below are the top large-cap foreign regional banks stocks on the NYSE and the NASDAQ in terms of dividend yield. Banco Santander (Brasil) SA (NYSE: BSBR) has a dividend yield of 5.90%. Banco Santander's shares closed at $4.71...
Reuters  Jan 29  Comment 
The majority shareholder of Chilean bank Banco de Chile on Wednesday sold about 6.7 billion shares, raking in roughly $820.5 million.
Reuters  Jan 9  Comment 
The majority shareholder of Chilean bank Banco de Chile has launched a process to sell up to 6.9 billion shares, which at current market value are equivalent to roughly...
Benzinga  Jul 31  Comment 
OfficeMax® Incorporated (NYSE: OMX), a leading provider of office and facility supplies, technology and services, announced that it received an approximately $72-million cash distribution yesterday related to its October 2004 investment in Boise...


Since its formation in 1893, Banco de Chile (BCH) has come a long way to position itself as one of the leading banks in Chile. The January 2001 merger with another Chilean commercial bank, Banco de A. Edwards, enabled Banco de Chile to establish itself as the second largest private bank in Chile, with an 18% market share and Ch$13,411 billion (US$25 billion) in total assets as of December 31, 2006. This comprehensive financial services provider, which is listed on the New York Stock Exchange (NYSE), the Madrid Stock Exchange, and the London Stock Exchange, primarily focuses on commercial banking.

Besides traditional banking functions, such as checking and savings accounts, commercial and mortgage lending, trade finance, working capital facilities, foreign exchange, and cash management, the bank also offers capital market and other non-credit services. These services include transactions relating to payroll and payment to the bank's individual, corporate, and institutional clients. In addition, Banco de Chile offers services in the international market through offices located in various parts of the globe. Its operations are classified into five broad divisions: retail market (accounting for 57% of 2006 net revenue), wholesale market (23%), subsidiary operations (13%), treasury and money market operations (4%), and international banking (3%). Banco de Chile's non-banking subsidiaries are engaged in securities brokerage, mutual funds, collections, retail sales, factoring, insurance, financial advisory, and securitization. Geographically, net revenue in 2006 divided 97% Chile and 3% other, primarily the United States.

BCH intends to expand its operations to cope with growth of the Chilean economy, recent trade agreements, and decreasing unemployment. Specifically, the company's strategic plans include: (1) expansion of branch and ATM networks to locations where BCH has little or no presence (2) strengthening of the sales force (3) strategically cross-selling products and services, such as mutual funds, lease financing, factoring, insurance and securities brokerage services (4) developing commercial agreements and strategic alliances with leading companies in other industries (such as retail businesses, insurance companies, pension management funds, and telecommunications companies) and (5) developing and improving credit scoring techniques.

In 2006, 70% of net revenue (total revenue less interest expense) of Ch$564 million (US$1.1 billion) was generated from interest-bearing sources, while the remaining 22% of net revenue came from fee-based and other non-interest sources. With 282 branches and 1,456 ATMs, Banco de Chile boasts of offering the best quality service in the banking industry. Banco de Chile enjoys long-term credit ratings of A2 by Moody's and A by both Standard & Poor's and Fitch.


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