|BancoEstado headquarters in Santiago|
BancoEstado (Banco del Estado de Chile) is one of the largest banks in the country with total loans of Ch$14.786 trillion as of December 31, 2013. BancoEstado is the sole government-owned bank in Chile. Its primary mission is to promote home ownership, home finance and banking services to low and middle income individuals as well as to develop banking services for small and medium-sized enterprises. Accordingly, BancoEstado maintains a much higher proportion of residential mortgage portfolio than its private sector peers (39% versus average of 25%). As a universal bank, BancoEstado offers current, checking and savings accounts, consumer, commercial and mortgage loans, credit and debit cards, online banking, investments, treasury services, trade finance, asset management, securities brokerage, insurance, leasing and more. BancoEstado has an extensive network of more than 360 branches, including a branch in New York City. The Bank employs about 9,250 people and operates over 2,350 ATMs, complemented by another 5,550 private ATMs (Redbanc), 1,185 sources for balances and deposit boxes, more than 11,460 CajaVecina service points, and 100 branches of its ServiEstado subsidiary. BancoEstado was formed in 1953 as a result of the merger of Caja de Crédito Hipotecario (a mortgage bank), Caja Nacional de Ahorros (a savings bank), Caja de Crédito Agrario and Instituto de Crédito Industrial. As of December 31, 2014, BancoEstado had total assets of Ch$28.116 trillion (US$46.337 billion), current accounts and other demand deposits of Ch$6.653 trillion (US$10.965 billion) and customer loans of Ch$16.164 trillion (US$26.641 billion). Banco del Estado de Chile has been named as the safest financial institution in Latin America in 2014 by the US financial magazine Global Finance.
Credit Ratings (March 2015)
|Long Term||Short Term||Outlook|
|Standard & Poor's||AA-||A-1+||Stable|
BancoEstado Subsidiaries and Affiliates:
BancoEstado Centro de Servicios S.A.
BancoEstado Contacto 24 Horas S.A.
BancoEstado Corredores de Seguros S.A.
BancoEstado S.A. Administradora General de Fondos
BancoEstado S.A. Corredores de Bolsa
BancoEstado Servicios de Cobranzas S.A.
Sociedad de Servicios Transaccionales CajaVecina S.A.
BancoEstado Microempresas S.A. Asesorías Financieras
Avenida Libertador Bemardo O'Higgins No 1111
Phone number: +56 2 670 7000
Fax: +56 2 670 5711
Website: www.bancoestado.cl, www.corporativo.bancoestado.cl
New York branch:
400 Park Ave. New York
NY 10022, USA
Phone: (212) 920 3234
Fax: (212) 920 3299
SWIFT code: BECHUS33