Banco del Desarrollo planning to buy factor – talks already underway
Chilean small business bank, Banco del Desarrollo, plans to buy a factoring agency during the first half of 2003.
Chilean small business bank, Banco del Desarrollo, plans to buy a factoring agency during the first half of 2003.
Chilean financial services group Grupo Security comprising a bank, a factoring unit, a stock brokerage, and a mutual fund announced first quarter profits up 152% to 2.55bn pesos due to restructuring, Silva said.
Chile's central bank has authorised credit unions to request loans from foreign and local financial institutions as part of a larger reform-package introduced to boost the capacity of credit unions to provide financial services to members, accordi
The Chilean unit of French credit insurance company Coface saw its premiums grow 34% during 2002 and booked net income for the year of 2.4bn pesos (US$3.3mn), said Coface Chile CEO, Louis des Cars.
Chile's Banco Progreso said that it would start operating as a niche bank in 2004, with a focus on small and medium-sized enterprises (SMEs). The bank will target companies in the machinery, transport, forestry and construction industries.
Chile's banking system had profits totaling 492bn pesos (US$594mn) for November, up 7.03% compared to the previous month, banking regulator SBIF said in a statement.
Chilean development bank Banco del Desarrollo aims to grow lending 8-10% next year, compared to this year's forecast 3.6% growth, chairman Vicente Caruz told local broadsheet El Mercurio.
Chilean banker Odde Rishmague, who is engaged in factoring, financial advisory, and real estate in his home country, is planning to buy a bank in the US next year to merge it with his Miami-based Union Credit Bank (UCB), Rishmague told Chilean fin
Factoring companies have increased their business by 8.2% from January to September to Pesos$1,228,287 million (US$1,820 million), according to estimates from the factoring industry association ACHEF.
Chilean financial group Inverlink plans to file for a banking license before year-end with a view to opening a bank in 2003.
The bank will focus on middle-class individuals and small-and medium-sized enterprises (SMEs).