Banco de Chile's Loan Growth Accelerates in Fourth Quarter Though Macro Risks Remain
Narrow-moat Banco de Chile reported a 3.3% increase in year-over-year net income, slightly below our expectations. Excluding the impact of accounting changes in the third quarter, credit provisions as a percentage of total loans increased slightly to 0.90%, from 0.85%. On a yearly basis, credit provisions remained stable at 0.93%. The Chilean economy experienced strong GDP growth of 4% in 2018 as the economy continued its rebound from the sub-2.0% growth in the two years prior. For now, we'll be...
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