Chilean banks won CLP $380,422 millions during the first quarter

The consolidated results of the chilean banking system (incluiding Corpbanca's investment in Colombia) reached CLP $380,422 millions during the three first months of the year 2013, according to the information released today by the Banking and Financial Institutions' Superintendence (SBIF).

This result represents a 12.84% decrease from the same period of the last year and an increase of 25.06% compared against last february.

Banco de Chile obtained the best results, winning CLP $121,470 millions, followed by Banco Santander-Chile, with a results of CLP $81,445 milliones.  In the third place was Banco de Crédito e Inversiones (BCI), which won CLP $ 54,046 during the three-months period.

The largest monthly profit is mainly explained by an increase in net interest income, lower expenses in the total provisions and higher income Net Fees, however, it showed a lower income from financial operations results and higher costs support, compared with the previous month.

Total loans of the consolidated banking sistem reached CLP $103,566,913 which represents a 11.72% increase from march, 2012 and a raise of 0.54% compared with the results of the previous month.  In this business segment, Banco de Chile obtained CLP $ 19,518,527 millions, a 18.85% of market share.  In second place, there was Banco Santander-Chile, with CLP $ 19,240, 460 millions in loans and a 18.58% of market share.

Total assets of the banking industry totalized CLP $141,834,795 millions and the total equity reached CLP $11,754,675 millions.