Santander unit's solvency rating affirmed

- Tuesday, November 8, 2011

Santander unit's solvency rating affirmed

Chilean ratings agency Feller Rate affirmed the AAA solvency rating of Santander Chile and kept the outlook stable, a press release reads.

The bank's rating is based on its solid financial profile, with high returns and adequate solvency levels, above the industry's average.

The reorientation of Santander's expansion focus toward more profitable sectors with higher growth potential, such as retail and SMEs, has given it a leading position within the local banking industry.

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The bank, the largest in Chile, is the local unit of Spanish giant Santander (NYSE: STD).

To read the full report in Spanish, go to this link