Andres Ergas of Heller Net Sud presents the latest analysis of the Chilean market
Andres Ergas, Chairman & CEO, Heller Net Sud Market Performance and Supply As in the rest of the economy, the factoring industry has shown signs of recovery during 2000, although the most noticeable effects of this only became clear in the second half of the year. Inertia from the problems of 1999 continued into the first half of 2000 and it was feared that new portfolio problems may arise. The period 1999 - 2000 also bore witness to the effects of the new banking legislation. Banco de Chile commenced its factoring operation in 1999 and Banco Edwards entered the market in the early months of 2000. It is likely that other banks will follow suit, perhaps even in parallel with currently established bank-owned factoring subsidiaries. The reason for this situation is that the law segmented the different types of services that banks are allowed to offer such as cheque issuing or international business.
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