Aggregated News From Investment Management Regulators

Summary of the Performance of Banks and Cooperatives as of May


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June 27, 2019.- The Financial Market Commission (CMF) reports the monthly results of banks and cooperatives, a summary of the system’s performance to facilitate the understanding of the provided statistics.

Banking System

In terms of activity, placements grew by 9.43 percent in twelve months, down from 9.65 percent in April, but above the variation of 5.46 percent observed in May 2018. Compared to April 2019, the commercial portfolio expanded less while consumer and housing portfolios grew over the previous month.

Commercial placements rose 7.89 percent (8.27 percent on April ’19, and 4.78 percent on May ’18); consumer loans by 17.37 percent (17.06 percent on April ’19, and 4.79 percent May ’18); and housing loans by 8.42 percent (8.33 percent on April ’19, and 7.45 percent on May ’18).

On the other hand, the index of provisions for placements reached 2.43 percent, and the indices of arrears of 90 days or more and impaired portfolios reached 1.94 percent and 4.99 percent, respectively.

Profits for May were 251,183 million Chilean pesos (USD 355 million). They decreased 11.01 percent compared to the previous month. The lower monthly result was caused by higher expenses on taxes, although an increase in the interest margin and the result of financial operations (ROF) alleviated this effect.

Supervised Cooperatives

Placements increased by 4.53 percent in twelve months, down from 4.72 percent in April. The lower growth of the consumer portfolio (7.04 percent versus 7.40 percent on April ’19) explained this variation.

In terms of Credit Risk, the index of provisions over placements’ arrears of 90 days or more, and impaired portfolios increased compared to last April to 4.51 percent, 2.96 percent, and 7.28 percent, respectively.

Monthly profit fell by 47.65 percent, mainly attributable to an increase in net provision expenses. Meanwhile, the accumulated balance reached 35,982 million Chilean pesos, 1.13 percent lower than twelve months ago.

Performance Report

Along with this month’s financial information, the analysis published in the Performance Report includes a section about the quantification of operational risk. This section describes the characteristics, classification of operational risk events, and the evolution of indicators by events of operational loss of the Banking System, among other factors.

The reports are published on the CMF website:

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