AWARDS: Bank of the Year Chile

AWARDS: Bank of the Year Chile

Corporate & Sovereign Strategy Chile

Chile’s economy is growing around 2.5% per year, or merely half of its potential, according to Claudio Melandri Hinojosa, the country head of Grupo Santander in Chile. Banco Santander Chile is growing slightly faster than its competitors, but it is also positioning itself for when the economy picks up pace again by cutting costs and putting funding in place “There is a great opportunity to grow the pie,” Melandri says, pointing out that 4 million Chilean workers do not have checking accounts and 600,000 small businesses lack access to formal credit markets. Santander Chile recorded net income of 250 billion Chilean pesos ($377 million) in the first half of this year, up 6% on the same period

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