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.

To contact the reporter on this story: Eduardo Thomson Correa at ethomson1@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.