Chilean bank Banco del Desarrollo expects to see a 20% profit increase in 2006, local daily La Tercera quoted bank president Vicente Caruz as saying. Banco del Desarrollo saw profits soar to 106bn pesos (US$199m) in 2005 compared to 20.1bn pesos in 2004, according to figures released by the local regulator. The profit increase will be obtained by increased efficiency, in part achieved by revamping the bank's technology and processes through an alliance with IT solutions provider i-flex, Caruz said. The alliance will be implemented together with fellow local banks Banco Security and Banco Internacional. On February 1, government state companies administrator manager Daniel Albarran will take the helm as Banco del Desarrollo's new CEO.
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