Scotiabank Chile
Office in Santiago  

Scotiabank Chile

Scotiabank Chile (formerly Scotiabank Sud Americano, SSA) was formed by a group of prominent Chilean businessmen in 1944 under the name of Banco Sud Americano. Canada's Scotiabank first purchased shares in the company in 1990. In 2000, by way of a public offering, Scotiabank was allowed to take control of 98% of Banco Sud Americano's equity. In November 2007, Scotiabank Sud Americano (SSA) took control of 99.5% of Banco del Desarrollo (BDD) through a public offering of shares. The banks merged in November 2009 changing the name to Scotiabank Chile. As a result of this, the combined SSA and BDD became the 6th largest bank in the country with a 6.7% market share. Scotiabank Chile provides retail and commercial banking services with focus on the commercial and corporate sectors and international trade. It offers current and savings accounts, consumer and business loans, mortgages, credit and debit cards, insurance products, foreign exchange, mutual funds, factoring, leasing, cash management, internet banking and other services. With over 4,000 employees, the company operates a network of more than 150 branches and 190 ATMs. About half of the branches are located in and around Santiago. In September, 2010, the Bank announced its agreement to acquire the Royal Bank of Scotland’s (RBS) corporate and commercial banking operations in Chile. The purchase will result in the Bank acquiring approximately US$900 million in total assets of RBS. As of December 31, 2014, Scotiabank Chile had total assets of CLP 8.431 trillion and total equity of CLP 723.457 billion.

 Financials

Total assets CLP 8.432 trillion (2014)
Revenue CLP 281.328 billion (2014)
Net Profit CLP 101.469 billion (2014)
Total Equity CLP 723.457 billion (2014)

Scotiabank Chile Subsidiaries:

Scotia Corredores de Bolsa SA
Scotia Administradora General de Fondos Chile
Scotia Sud Americano Asesorias Financieras Ltda
Scotia Corredores de Seguros Chile Ltda
Centro de Recuperacion y Cobranza Limitada

Head office address:
Morande 226
Santiago, Chile
Phone: +56 26926000
Fax: +56 26926065
Website: www.scotiabank.cl