Banco de Chile's performance is increasingly tied to China's economy and a heated housing market.
Narrow-moat-rated Banco de Chile exhibited stable performance during the first quarter. Net income was CLP 140 billion, a sequential increase of nearly 13% and a year-over-year increase of 5%. Much of this quarter’s improvement from the fourth quarter was the bank’s sharp sequential decrease in credit losses. Provisions for loan losses fell 27.7% quarter over quarter. Provisions accounted for 1% of average loans, a 39-basis-point improvement from the previous quarter. Management reaffirmed that ...
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