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| BancoEstado headquarters in Santiago |
Banco del Estado de Chile (Banco Estado) is the largest deposit taking institution in the country with a market share of over 19%. It is also the largest bank in Chile by number of customers and the largest mortgage lender in Chile by number of transactions. Banco Estado is fully owned by the Republic of Chile. The Bank’s primary mission is to promote home ownership, home finance and banking services to low and middle income individuals as well as to develop banking services for small and medium-sized enterprises. Accordingly, it maintains a much higher proportion of residential mortgage portfolio than its private sector peers (39% versus average of 25%). As a universal bank, it offers current and savings accounts, consumer and commercial loans, mortgage loans, credit and debit cards, online banking, investments, treasury services, trade finance, asset management, securities brokerage, insurance, leasing and more. BancoEstado has an extensive network of more than 380 branches including a branch in New York City. It employs about 14,000 people and operates over 2,400 ATMs, complemented by another 5,550 private ATMs (Redbanc), more than 16,500 CajaVecina outlets, and over 100 branches of its ServiEstado subsidiary. The company was formed in 1953 as a result of the merger of Caja de Crédito Hipotecario (a mortgage bank est. in 1855), Caja Nacional de Ahorros (a savings bank), Caja de Crédito Agrario and Instituto de Crédito Industrial. As of March 31, 2017, BancoEstado had total assets of CLP 34.761 trillion (US$52.4 billion) and customer loans of US$30.5 billion. Banco del Estado de Chile was named as the safest financial institution in Latin America by the Global Finance magazine, ahead of Banco de Chile, Banco Santander Chile and Banco de Credito e Inversiones.
Credit Ratings (June 2017)
| Long Term | Short Term | Outlook | |
| Standard & Poor's | AA- | A-1+ | Stable |
| Moody's | Aa3 | P-1 | Stable |
| Fitch | A+ | F1+ | Stable |
BancoEstado Subsidiaries and Affiliates:
BancoEstado Centro de Servicios S.A.
BancoEstado Contacto 24 Horas S.A.
BancoEstado Corredores de Seguros S.A.
BancoEstado S.A. Administradora General de Fondos
BancoEstado S.A. Corredores de Bolsa
BancoEstado Servicios de Cobranzas S.A.
Sociedad de Servicios Transaccionales CajaVecina S.A.
BancoEstado Microempresas S.A. Asesorías Financieras
Headquarters address:
Avenida Libertador
Bemardo O'Higgins No 1111
Santiago, Chile
Phone number: +56 2 670 7000
Fax: +56 2 670 5711
Website: www.bancoestado.cl
New York branch:
400 Park Ave. New York
NY 10022, USA
Phone: (212) 920 3200
SWIFT Code: BECHUS33