Chilean banking won US$ 1.318,38 million between January and April

Best Growth Stock – Chilean banking won between January and April of this year net income 619.643 million Chilean pesos (some US$ 1.318,38 million), 8.25% more than during the same period of 2010, they said official sources.

Compared to March, the gains scored in April, a decrease of 6.69%, said the Superintendency of banks and financial institutions (Sbif).

In the fourth month of the year the cost-effectiveness of the system on the heritage stood in the 21,19%, according to the report.

The results were led by the Santander Chile Bank, controlled by the group Spanish Santander Central Hispano (SCH), with a profit of 168.860 million Chilean pesos (some US$ 359,27 million) and a return on assets of 27,65%.

In second place was the Bank of Chile, controlled by the Luksic group, with benefits for 161.381 million Chilean pesos (some US$ 343,36 million) and a return of 31,11%.

Third place went to the Banco de Crédito e Inversiones (BCI), controlled by the Yarur family, with earnings per 85.114 million Chilean pesos (some US$ 181,09 million), while his return on the assets stood at 23,23 per cent.

Bank Bbva Chile, controlled by the Spanish group Bilbao Vizcaya Argentaria (Bbva), earned a profit of 30.773 million Chilean pesos (some US$ 65,47 million), while its profitability was 18.10%.

The BancoEstado, only State entity of the system, achieved a profit of 30.193 million Chilean pesos (some US$ 64,24 million), with a yield of 9,69% on heritage.

In relation to the appropriations, those of consumption grew in April, a 0.77 per cent over the previous month, 4,71% compared with December and 12.09 per cent over April last year.

Housing credits, meanwhile, climbed a 0.46% in the fourth month of the year to March, a 2.27% compared with December and 9,51% in April 2010.

Meanwhile, credits for businesses increased 1.22 per cent over the previous month, 4.80 per cent over December and an 8.74% compared with April of last year.