The King champions Spanish small businesses
King Juan Carlos of Spain championed small businesses during his official visit to Chile.
King Juan Carlos of Spain championed small businesses during his official visit to Chile.
Chile's factoring industry posted total profits of around 11bn pesos (almost US$20m) in 2003 with income set to increase this year backed by a publicity campaign and demand generated by foreign trade agreements, according to local daily El Mercuri
Chile's factoring industry expects to post total profits of around 11bn pesos (US$18.1m) in 2003, with income forecast to jump next year through increased demand generated by foreign trade agreements.
Niche bank Banco HNS has increased its capital base 24.3% to 13.4bn pesos (US$21.3m) following a capital injection of 2.63bn pesos, the bank said in a statement.
The Chamber of Deputies has approved a bill granting invoices executive status, which forces payment without the need for long court proceedings, and the Senate is expected to pass the legislation by the end of the year.
Chile's Banchile Factoring Internacional, part of the Banco de Chile group, expects to hold a loan portfolio of 80bn pesos (US$119m) by the end of this year, up 165% compared to 2002, placing the company among the top three factors operating in Ch
Chilean tax regulators will conclude a pilot electronic invoicing project on Tuesday, 2 September and will open up the service to all Chilean businesses, including the country's small- and mid-sized enterprises (SMES), local press reported.
Chile's factoring industry posted profits of 5.21bn pesos (US$7.45m) in the first half this year, up 27% compared to the same period last year, local daily El Mercurio reported.
Chile's Banco del Desarrollo saw first half net profits drop 5.85% year on year to 3.4bn pesos (US$4.9m), mainly due to severance payouts for laid off personnel, local financial daily Estrategia quoted Desarrollo chairman Vicente Caruz as saying.
The Chilean subsidiary of France-based trade insurance provider Coface accounted for 45.7% of the local export credit insurance market as of end-June this year, according to Santiago-based information service Fecu.