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May 06, 2015 2:44 PM ET

Banks

Company Overview of Banco Security

Company Overview

Banco Security, together with its subsidiaries, provides banking services to medium and large enterprises, and high-income individuals in Chile. The company operates through Corporate Banking, Private Banking, Treasury, Subsidiaries, and Other Services segments. The Corporate Banking segment offers financial services to medium and large enterprises, including commercial credit in domestic currency and foreign currency, operating leases, and foreign trade services, as well as current account and investment services. The Private Banking segment provides services to high-income individuals, including credit lines, current accounts, consumer credits, mortgage loans, investment services, and othe...

Apoquindo 3150

Comuna de Las Condes

Santiago,  

Chile

Key Executives for Banco Security

General Manager
Controller and Member of Audit Committee
Chief Economist
Chief Accountant
Legal Counsel and Member of Audit Committee
Compensation as of Fiscal Year 2014.

Banco Security Key Developments

Banco Security Reports Earnings Results for the Year 2014

Banco Security reported earnings results for the year 2014. For the year, the company's earnings jump 70.4% last year to CLP 55.9 billion on the back of the performance of its treasury, consumer and corporate banking operations.

Grupo Penta Reportedly Seeks To Sell Its Banco Penta

Grupo Penta is seeking to sell investment banking unit Banco Penta, which is immersed in an ongoing scandal involving suspected tax fraud and alleged illegal funding of political campaigns. The group's founding partners, Carlos Alberto Délano and Carlos Eugenio Lavín, who are also implicated in the scandal, have begun a sale process, and local lender Banco Security is the most likely buyer, according to Chilean news site El Mostrador. Banco Bradesco S.A. (BOVESPA:BBDC4) and Credicorp Capital Peru S.A.A. (BVL:CRECAPC1) which could make a move through its local unit IM Trust have also been named as a potential buyer. Market sources suggest Banco Penta would not be sold for much more than its book value of $255 million, given the reputational damage incurred in the past six months, said El Mostrador.

Banco Security to Open Representative Office in Hong Kong

Banco Security will open a representative office in Hong Kong over the next few months after receiving approval from the Hong Kong Monetary Authority in September. The move marks the bank's first expansion outside of its home market and aims at strengthening its trade finance business. The new office will allow the company to advise clients who wish to carry out business in Asia, particularly in China.

Similar Private Companies By Industry

Company Name Region
Banco Internacional S.A. Americas
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Deutsche Bank (Chile) S.A. Americas
Banco Ripley Americas
Banco Consorcio Americas

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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