Banco de Chile Lending May Grow 45%, Chairman Tells El Mercurio

Banco de Chile, which last week announced plans to sell $500 million in new shares, may expand its lending by 45 percent in the next three years, Chairman Pablo Granifo told El Mercurio.

Banco de Chile is set to open 50 new outlets this year and next year, the Santiago-based newspaper quoted him as saying.

The capital increase will allow the bank to raise an additional $250 million in bonds, El Mercurio reported. Banco de Chile is also negotiating a $150 million syndicated loan with Asian banks, it wrote.

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