Chilean Banking Profit Up 2.71% YoY to US $ 2,003 Million in First Half | AmericaEconomy



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Santiago . Chilean bank profit recorded an interannual increase of 2.71% in the first half, helped by an increase in interest income and readjustments that were added to an increase in loans in the face of a rebound in the first half of the year. economy, said Tuesday the local regulator.

In the first half of the year, the bank as a whole added a profit equivalent to US $ 2,003 million, informed the Superintendency of Banks and Financial Institutions (SBIF).

In its monthly reading, the benefits of the sector increased 2.83% in June compared to May, to 363 million US dollars.

"The higher monthly result is mainly explained by a decrease in the net provision cost and an increase in the result of investment in companies", the regulator said

Banco Santander Chile, the main entity by the country's badets, led profits with 306.946 million pesos ($ 471 million) in June. Banco de Chile, meanwhile, earned 305.214 million pesos (469 million dollars).

Total loans recorded an interannual advance of 6.56% over the last 12 months, as measured by loan increases. commercial (6.58%) and consumer (5.18%). Mortgage loans increased by 8.74%.

The Loan Provision, Delinquency 90-Day or More Indices and Impaired Portfolio Indices decreased compared to May, mainly influenced by the month's growth in activity, said L & # 39; audit entity.

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