October 11, 2010
Fitch has upgraded Santander Chile to AA minus from A+. The outlook is stab
Fitch has upgraded Santander Chile to AA minus from A+. The outlook is stable. The ratings reflect the potential support from the Spain-based parent, the local bank's leading market share and its strong profitability, healthy asset quality and good capital adequacy. Fitch says loan loss provisions fell to 1.67% of total loans at August 30 from 2.35% as of December 31 2009. Santander Chile has a market share of 20.3% in total loans at June 30.