Chile's BankBoston, a wholly owned branch of US-based financial group FleetBoston, will turn its focus to the small- and medium-sized enterprise (SME) segment this year to broaden its client base, according to the bank's general manager Boris Buvinic. BankBoston Chile has traditionally been known for its strong focus on large corporations and high-income individuals.
The bank launched a specialised business unit a couple of months ago to cater to SMEs with annual billing of between US$100,000 and US$1m, said Buvinic.
In the past BankBoston only served SMEs in a "marginal" way at its traditional branches but the new unit shows the bank's new commitment to the segment.
Source: BN Americas
