Roundup: Banco de Chile capital hike, SSF information sharing agreement, IM Trust

- Wednesday, July 20, 2011

Roundup: Banco de Chile capital hike, SSF information sharing agreement, IM Trust

Chile's second largest bank, Banco de Chile (NYSE: BCH), closed its capital hike by selling some 131mn new shares at 68.25 pesos apiece at local stock exchange BCS, a press release from the company reads.

Banco de Chile's shareholders approved a US$500mn capital increase on January 20. Some 3.39bn new shares were issued, representing 3.9% of the lender's shares.

The capital increase is aimed at bolstering Banco de Chile's balance sheet and providing the bank with enough resources to outpace the system's growth over the next three years, as BNamericas reported previously.

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Salvadorian financial services regulator SSF signed an information sharing agreement with Fedecrédito, the country's savings and loans and non-supervised financial institutions association, a press release from the agency reads.

The agreement will give the regulator access to Fedecrédito' debtors database, while in return the association will receive access to SSF's database with debtors in the regulated financial system.

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Chilean financial services firm IM Trust will launch operations in Peru, as part of the company's Andean region expansion plan, a statement reads.

The company will begin by establishing the proper legal vehicles to open branch in Peru's market, as well as strengthening business ties with its clients in the local market. IM Trust expects to launch operations on August 1.