Banco de Chile Reports Consolidated Earnings Results for the Six Months Ended June 30, 2017
August 01, 2017 at 02:15 am EDT
Share
Banco de Chile reported consolidated earnings results for the six months ended June 30, 2017. For the quarter, the company reported net interest income of CLP 323,481 million compared to CLP 305,101 million a year ago. Total operating revenues were CLP 448,176 million compared to CLP 475,579 million a year ago. Net operating income was CLP 188,671 million compared to CLP 177,020 million a year ago. Income before income tax was CLP 190,203 million compared to CLP 178,184 million a year ago. Net income attributable to bank's owners was CLP 159,818 million or CLP 1.64 per basic and diluted share compared to CLP 150,985 million or CLP 1.57 per basic and diluted share a year ago. Book value per share was CLP 30.56 compared to CLP 29.03 a year ago. Return on average total assets was 1.99% compared to 1.96% a year ago. Return on average equity was 21.74% compared to 21.69% a year ago. Operating revenues registered a year on year decrease of 5.8% when compared to the second quarter of 2016. This drop was mainly explained by a reduction in non-customer income, due to a positive one-time effect in the previous year.
For the six months, the company reported net interest income of CLP 627,021 million compared to CLP 606,272 million a year ago. Total operating revenues were CLP 870,895 million compared to CLP 886,431 million a year ago. Net operating income was CLP 356,082 million compared to CLP 328,932 million a year ago. Income before income tax was CLP 358,605 million compared to CLP 330,763 million a year ago. Net income attributable to bank's owners was CLP 299,811 million or CLP 3.07 per basic and diluted share compared to CLP 283,512 million or CLP 2.95 per basic and diluted share a year ago. Return on average total assets was 1.88% compared to 1.83% a year ago. Return on average equity was 20.44% compared to 20.56% a year ago.
Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank's segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.
BANCO DE CHILE 
