Citigroup to double company market share by 2006

Bnamericas Published: Wednesday, June 04, 2003
US-based financial services giant Citigroup (NYSE: C) aims to more than double its market share in the Chilean company loan segment in the next three years to 7%, compared to today's 3% participation, Citibank Chile's company lending manager Rodrigo Sprohnle was quoted by local financial daily El Diario as saying. Sprohnle said the bank expects to grow its Chilean corporate loan portfolio 30% this year if the economy continues to perform as it did in the first quarter. Citibank Chile has been able to increase its company lending during the last 18 months despite an overall slowdown in the local sector. The bank has also won new company clients following several large-scale bank mergers in Chile over the last couple of years, he said. Citigroup's global presence in more than 100 countries gives it an competitive advantage among Chilean companies dedicated to exporting, Sprohnle said, adding the upcoming free-trade agreement between Chile and the US should also have a positive effect on the Chilean economy and foreign trade financing in the medium-term.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

  • Project: Rajo Inca
  • Current stage: Blurred
  • Updated: 2 days ago

Other companies

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.

  • Company: General Water S.A.  (General Water)
  • General Water is a private Brazilian company aimed at the supply, treatment and reuse of water resources. General Water is specialized in the development, operation and maintena...
  • Company: Omdia
  • The English company Ovum Ltd., part of the Business Intelligence Division of Informa Group, is a consulting agency which helps its clients to evaluate opportunities, to measure ...
  • Company: Ritz Instrument Transformers Inc.  (RITZ USA)
  • RITZ is one of the world´s leading specialists for Instrument Transformers: Low and medium voltage insulated with epoxy resin, high voltage transformers insulated with oil/paper...
  • Company: One Communications Ltd.  (One Communications)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...