A wide distance separates Chile’s financial sector from the rest of the country’s economy. In the World Financial Forum’s assessment of financial stability, its national banking industry has moved up four spots to take fifth place, trailing only Canada, New Zealand, Australia, and Finland.
The top banks for people wishing to open an individual or business bank account are listed below.
- Banco de Chile
It is a fund and fiscal solutions provider with its main offices in Santiago. It is a private bank that offers a variety of banking products. A countrywide chain of 434 offices, 1,915 Automatic tellers, as well as other digital means of delivery makes up Banco de Chile’s infrastructure.
Its activities are divided into six primary business segments: the financial sector, corporate customers, lines of credit, SMEs, and major enterprises. It also provides financial protection, leasing, joint investment and trading, refinancing, and other services.
- Banco de Crédito e Inversiones (BCI)
Juan Yarur Lolas established the Bank in 1937 intending to assist small and medium businesses. It focuses on investment handling, healthcare, stock broking, and interests and deposits. BCI is a component of the Global Council of Prominent Banks. BCI now ranks fourth concerning clients and third concerning lending among Chilean financial institutions.
- Banco del Estado de Chile
It was established by executive order in 1953 and is the sole Public Financial institution in Chile. With a concentration on the financially excluded and small and medium entities, it supports all types of businesses. It offers monetary solutions to individuals and corporations. It is the biggest supplier of bank cards and mortgage lenders in the nation.
Numerous divisions of the bank support its operations. Equity trading, insurance, collective investment schemes, monetary assistance, and collections are a few of these. The bank also runs a program called “BancoEstado Cine” that has been assisting Chilean filmmaking since 2004.
- Banco Santander – Chile
Based on savings and lending, this is Chile’s biggest bank. The institution has a chain of 504 units. It belongs to the Santander Corporation as a division.
It offers its clients both business and sales financial assistance, such as funds in Chilean pesos and other currencies to fund business deals and commerce. Consumer banking solutions also include housing loans. Along with standard credit activities, the organization also provides asset administration, monetary advice facilities, mutual fund management, and stock broking.
- The Central Bank
It was founded in 1925 and is recognized as a constitutionally ranked independent entity in the present Chilean Charter. It now uses an inflation-aiming framework to direct its financial strategy.
The National Charter of Chile grants the CBoC autonomy so that it can maintain its separation from the government and maintain legitimacy and consistency outside of political cycles. Its main goals are to protect the currency’s sustainability and the smooth operation of both domestic and foreign transactions. The CBoC is given the authority to employ measures for fiscal and global exchange policies to achieve these goals.
- Itaù Corpbanca
The fourth-largest financial institution in Chile is Itaù Corpbanca. The organization now has 398 lender units in Colombia and Chile. It has subsidiaries in Lima, Madrid, and New York City in addition to its headquarters in Santiago.
The Corporation offers a broad variety of consumer and business lending solutions to its clients. With its divisions, it additionally offers fiscal advising products, collective wealth management, insurance counseling, and stock broking. Corpbanca operated 68 offices across the country, comprising 28 Corpbanca offices, 20 Bancondell divisions, and 20 integrated departments that run under both the Corpbanca and Bancondell titles. The Bank controls and runs 108 payment terminals. As a result of its partnership with Redbanc S.A., its clients have access to more than 4,000 ATMs in the country.