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$1,247,642 million
- Investment since: 1999
- Employees: 13,555
Address
- Ahumada 251, Santiago - Chile
- Telephone: (56) 22653 1111
- www.bancochile.cl
Quiñenco controls Banco de Chile through LQ Inversiones Financieras S.A. (LQIF), a company established in 2000 to shore up the Group’s financial activities and where it has partnered with Citigroup since 2008. Since April 2010, Quiñenco and Citigroup hold an equal stake in LQIF, which in turn holds 51.2% of the voting and economic rights of Banco de Chile, as of December 31, 2019.
Banco de Chile maintains a leading position in the Chilean banking industry, with a return on average capital and reserves of 18.0% in 2019 and a 23% share in industry profits, which is a consequence of the strength of its brand, business scale, advantageous financing structure, international connectivity through its strategic alliance with Citigroup, and risk management.
The Bank offers a wide range of financial products and services to all market segments, from individuals to large corporations, with over two million active clients and an extensive network of traditional channels as well as web platforms and mobile applications.
Banco de Chile’s shares are traded on the local stock exchanges and the New York Stock Exchange (NYSE), where it holds an ADS (American Depositary Shares) program.
Banco de Chile has more than 13,500 employees, a network of 353 branches and a representation office in Beijing.
Highlights
in millions of Ch$ 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%
|
Ownership
|
|
|
SM Chile
|
58.2%
|
-
|
Banco de Chile
|
27.5%
|
51,2%
|