As European Banks Lend Less To Chile, Asian, US Banks Step In
06 Dicembre 2011 - 5:44PM
Dow Jones News
While European banks have reduced financing to Chile, Asian and
U.S. banks have stepped in to fill that void, said Arturo Tagle,
the chief executive of Banco de Chile (BCH, CHILE.SN), the
country's second largest bank in terms of lending.
European banks account for around a third of foreign financing
to Chilean banks.
"We aren't seeing liquidity problems...Asian and American banks
haven't stopped lending to Chile," Arturo Tagle told reporters on
the sidelines of a seminar Tuesday.
Chilean banks should see their loan portfolios grow next year
even as Europe's ongoing debt crisis will likely lead to a decline
in domestic demand for loans.
"We predict that [Chilean] banks will see their loan portfolios
grow at a real rate of some 8%," Tagle said.
Chilean holding company LQ Inversiones Financieras SA, owned in
equal parts by the local Luksic family and Citigroup Inc. (C),
controls Banco de Chile.
-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;
anthony.esposito@dowjones.com
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