Banco de Chile Benefits From Significant Expansion in Net Interest Margins
Narrow-moat Banco de Chile produced a strong second quarter that exceeded our expectations. For the second quarter, Chile’s largest bank posted earnings of CLP 159.8 billion, a sequential increase of 14.9%. Net interest margins expanded to 6.4% and provided the biggest boost to Banco de Chile’s bottom line as the Chilean bank benefited from lower interest rates. However, we do not expect net interest margin to remain this high as we are expecting lower revenue from inflation-indexed loans for th...
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