July 15, 2022 |
The Chilean government said it approved a $500 million capital increase for BancoEstado to enable the state-owned lender to comply with Basel III rules and boost lending to micro and small businesses.
The government decided to bring forward the capital injection, which had been scheduled for 2023, to enable the bank to satisfy capitalization requirements that begin taking effect in Chile this year, according to a statement from the finance ministry.
"This decision will not only allow us to advan
Chilean government injects $500 mln into the state-owned lender to meet Basel III requirements