BancoEstado, Banco del Estado de Chile
BancoEstado (Banco del Estado de Chile) is one of the largest banks in the country with total assets of US$48.323 billion as of March 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 350 branches, including a branch in New York City. The Bank employs about 12,250 people and operates over 2,000 ATMs, complemented by another 5,550 private ATMs (Redbanc), 1,184 sources for balances and deposit boxes, more than 3,000 CajaVecinas, and 68 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. Banco del Estado de Chile has been named as the safest financial institution in Latin America in 2011 by the US financial magazine Global Finance. As of December 31, 2012, BancoEstado had total assets of US$48.240 billion, current accounts and other demand deposits of US$12.403 billion and customer loans of US$28.185 billion.
Subsidiaries and Affiliates:
BancoEstado Centro de Servicios S.A.
New York branch: