Banco de Chile (BCH, CHILE.SN), the Andean nation's second-largest bank in terms of loans, completed its capital increase, raising nearly $450 million, the company said Tuesday.

The Chilean bank will use the proceeds to finance investments and to leverage loan growth over the next three years.

Banco de Chile, which sold 3.39 billion shares, equivalent to a 3.9% equity stake in the company, aims to gain 100,000 new retail clients and 20,000 new corporate clients.

Chilean holding company LQ Inversiones Financieras SA, owned in equal parts by the local Luksic family and Citigroup Inc. (C), controls Banco de Chile.

In addition to Banco de Chile, the Luksic family controls copper-mining company Antofagasta PLC (ANFGY, ANTO.LN) and beverage concern Compania Cervecerias Unidas SA (CCU, CCU.SN), among other assets.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

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