Banco de Chile
Last year was a success story for Banco de Chile, voted once again best bank in the country thanks to its good overall figures and increasing return on equity.
“2004 proved to be a very successful year and one of great achievements,” says CEO Pablo Granifo. “By adding new products, building up the country’s most modern technological and systems platform, at a state-of-the-art level, developing an enhanced business model focused on higher yielding markets and products, and amply incorporating the products of our subsidiaries into the bank’s distribution network, we strove to provide added value to our clients with above-market service quality. “These priorities, added to the consolidation of cost controls and a conservative credit approach, allowed us to obtain a record net income for Banco de Chile with a 2004 return on capital in excess of 29%, quite above the system’s 17% average. We were also able to reward our shareholders’ confidence through an almost 35% total return for the Banco de Chile share, a profit ratio larger than that of most of the local and international indices,” he adds.
“With a year-end market value of $2.4bn, and a value-driven, motivated and focused staff, I am confident of efficiently meeting our customers’ and shareholders’ expectations with enthusiasm and responsibility.”
