Chile

Coface unit sees premium growth slowing in 2005

The Chilean subsidiary of French insurer Coface has seen premium growth slowing down this year to

Surecomp relocates Latin American development centre

Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the wholesale banking industry, announced today the relocation of its Chilean-based Latin American development and support centre

US$5 million to support factoring services to small and medium enterprises

The International Finance Corporation, the private sector arm of the World Bank Group, will provide US$5 million to Factorline S.A. in Chile to support the company’s international factoring expansion and diversify its funding sources.

Mapfre credit insurance may see profits soar by 55% in 2005

Chilean credit insurance company, Mapfre Garantías y Créditos, is on track to increase its profits by 55 per cent to 700mn pesos (US$1.21m) this year, thanks to higher premiums and investment gains, the company's CEO Rodrigo Camper

Falabella eyes new niches, including factoring, around core business

Chilean retail bank Banco Falabella remains cautious over offering new products, but is reviewing a possible entry into

BCH consolidates small business and retail units

Chile's second-largest bank Banco de Chile recently merged its small business banking units and

Credit insurance to grow 15-17% in 2005

Chile's credit insurance market should grow in premiums by 15-17% this year compared to 2004

Growth in factoring reported as 182 per cent yearly

Within the competitive climate of the modern banking system, factoring has been growing at a staggering rate of 182 per cent a year.

Three banks control 95% of micro credit industry

Three Chilean banks - BancoEstado, Banco del Desarrollo and Santander Santiago dominate the local micro credit industry with some 95% of total loans issued.

HNS opts for BanComex Trade Finance solution

Surecomp, a leading provider of trade finance, factoring and reconciliation solutions for the banking and financial market, today announced that Santiago-based HNS Banco has licensed BanComex.