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Banco de Chile

Relevant Information

  • As of December 31, 2019

  • LQIF's voting rights: 51.2%
  • LQIF’s economic rights: 51.2%
  • Book value of investment: Ch$1,247,642 million
  • Investment since: 1999
  • Employees: 13,555
  • Address

  • Ahumada 251, Santiago - Chile
  • Telephone: (56) 22653 1111

Quiñenco controls Banco de Chile through LQ Inversiones Financieras S.A. (LQIF), a company established in 2000 to shore up the Group’s financial activities and where it has partnered with Citigroup since 2008. Since April 2010, Quiñenco and Citigroup hold an equal stake in LQIF, which in turn holds 51.2% of the voting and economic rights of Banco de Chile, as of December 31, 2019.

Banco de Chile maintains a leading position in the Chilean banking industry, with a return on average capital and reserves of 18.0% in 2019 and a 23% share in industry profits, which is a consequence of the strength of its brand, business scale, advantageous financing structure, international connectivity through its strategic alliance with Citigroup, and risk management.

The Bank offers a wide range of financial products and services to all market segments, from individuals to large corporations, with over two million active clients and an extensive network of traditional channels as well as web platforms and mobile applications.

Banco de Chile’s shares are traded on the local stock exchanges and the New York Stock Exchange (NYSE), where it holds an ADS (American Depositary Shares) program.

Banco de Chile has more than 13,500 employees, a network of 353 branches and a representation office in Beijing.


in millions of Ch$ as of December 31 of each year
2018 2019
Operating revenue 1,873,283 2,014,520
Net income attributable to the owners of the controller 594,872 593,008
Total loans 27,914,322 30,019,470
Total assets 35,926,459 41,273,333
Shareholders' equity attributable to the owners of the controller 3,304,152 3,528,222
ROAA 1.7% 1.6%
ROAE 18.7% 17.5%
Net financial margin 4.8% 4.6%
Efficiency ratio 45.3% 45.2%

Contribution to Profits* by Business Area

Net income Ch$593,008 million as of December 31, 2019
*Before taxes

LQIF's Participation in Banco de Chile

as of December 31 of each year
2018 2019
Voting rights 51.2% 51.2%
Economic rights 34.1% 51.2%
SM Chile 58.2% -
Banco de Chile 27.5% 51,2%