Best Bank − Chile: Banco Santander

Nov 1, 2008

Outstripping the Population Chile’s Santander, the country’s biggest deposit-taking bank, has seen its client base jump to three million people, an increase of 40% during the past three years. It has a network of 2,016 ATMs and 468 branches, the biggest reach in the country, according to the bank. Its total deposits amounted to $22.3 billion at the end of June.

“Santander in Chile is the most important banking franchise in the country,” boasts Raimundo Monge, director of corporate and financial strategy at the bank. “It has the largest proportion of the market in terms of loans, deposits and capital; what’s more, it has the highest profitability and efficiency level in the industry.” As of June, deposits were up 16.6% and the loan base had expanded by 19.1% year-on-year, Monge adds.In 2007, the bank had an ROA of 1.9% and an ROE of 23.4%, against an ROA of 1.9%...

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