Global InformationBanco del Estado de Chile information
 | This article appears to be slanted towards recent events. (September 2015) |
 | |
 Headquarters in Santiago, Chile | |
| Company type | State Owned Enterprise |
|---|---|
| Industry | Financial services |
| Predecessors |
|
| Founded | 1855 (as Caja Nacional de Ahorros) 1953 (as Banco del Estado de Chile) |
| Headquarters | Av. Libertador Bernardo O'Higgins nº 1111, Santiago, Chile |
Area served | Chile, United States |
Key people | Arturo Tagle Quiroz (Chairman) Juan Cooper Álvarez (CEO) |
| Products | Asset management, consumer banking, corporate banking, credit cards, investment banking, mortgage loans, private banking, wealth management |
| Website | https://www.bancoestado.cl |
Banco del Estado de Chile (In English: Bank of the State of Chile), commercially operating under the brand BancoEstado, is the only Public Bank in Chile and was created by government decree in 1953.[1] It provides financial services to consumers and companies, with a focus on national coverage in terms of geography and social sectors and a particular emphasis on the unbanked and small and medium enterprises,[2] although it serves all types of businesses. It is the country's largest mortgage lender and largest issuer of debit cards.[3] In addition, BancoEstado performs part of the Chilean government's financial activities through the accounts managed by the General Treasury of the Republic of Chile.
The bank was created by Decree no. 126 of 1953, which merged the National Savings Bank (Caja Nacional de Ahorros), Mortgage Credit Savings Bank (Caja de Crédito Hipotecario), Agrarian Credit Savings Bank (Caja de Crédito Agrario) and Industrial Credit Institution (Instituto de Crédito Industrial) into a single institution.[1]
By the end of 2009, BancoEstado was the third-largest bank in Chile, covering all areas of the country via branches or delegate banking contact points called CajaVecina (Spanish trade name roughly translatable as 'Neighbourhood Savings Bank'). As of 2018, the bank had 417 branches (including the New York office), 107 smaller offices (ServiEstado), 3,701 automated services (ATMs, dispensers and letter boxes) and 25,400 CajaVecina contact points. It is the only bank with presence in all the communes in the country (even in the Antarctic), reaching geographically isolated areas where no other bank is present. Until 2018, the bank reached 134 localities that had no other banking services[3] Since 2012, Global Finance magazine has ranked BancoEstado as the safest Bank in Latin America,[4] while in 2015 it was ranked as the 48th-safest bank in the world (6th-safest in the Southern Hemisphere).[5]
- ^ a b Ministerio de Hacienda (1 August 1953), DFL 126 Crea el Banco del Estado de Chile, formado por la fusión de las entidades que detalla
- ^ "Strategic Pillars". Archived from the original on 22 December 2015. Retrieved 13 December 2015.
- ^ a b Annual report 2014 bancoestado.cl [dead link]
- ^ "BancoEstado Empresas". Archived from the original on 1 March 2016. Retrieved 10 February 2016.
- ^ "Global Finance Magazine - World's Safest Banks 2015 Issue | Table of Contents".