Net Profit in Chile’s 1H Banking Sector Reaches CLP530.1 Billion
Chilean banks and fiscal establishments made a mixed net profit of 530.1 bn. Chilean pesos in the first bit of the year, banking regulator SBIF expounded Friday.
It did not provide comparative data for the first bit of 2008, or on-year p.c. changes, because it remains in the middle of moving to Global Finance Reporting Standards.
Total loans in the semester totaled CLP65.2 trillion, the SBIF asserted. Customer loans, which banks say have chiseled off on business doubt and slumping shopper confidence regardless of the lower IRs, totaled CLP8.4 trillion. So far this year, the Chilean central bank has cut the baseline rate a striking total of 775 basis points, bringing the key rate to its current record-low level at 0.5%.
The monetary system’s average net return on capital and reserves reached 14.7% for the 1st half, compared to the 13.4% return reported for quarter 1 of 2009, and 15.7% in the 1st half a year of 2008, the SBIF reported formerly.
Net profit at the nation’s biggest bank, Banco Santander-Chile ( SAN ), totaled CLP188.2 bln in the 1st half, while before tax profit reached CLP226.3 billion.
The SBIF did not provide comparative info from the year before for the individual banks. Santander-Chile’s net return on capital and reserves reached 28.1% in the period, noticeably higher than the monetary system’s average of 14.7%. At Banco de Chile ( BCH ), the state’s second-biggest bank, net profit reached CLP122.5 bill for the 1st half, while before tax profit was CLP142.6 bn. CorpBanca SA’s ( BCA ) net profit was CLP34.6 bill, with a gross profit of CLP41.3 bn.. CorpBanca’s net return on capital and reserves was 15.6%.
© 2009, admin. All rights reserved.