Banco de Chile(US:BCH)2021-02-09 12:41Economic & Banking Industry Overview - Chile's GDP is projected to grow by 5.3% in 2021, following a -6.0% contraction in 2020 [9] - The unemployment rate is shown with monthly data points from Jan-20 to Dec-20 [4] Strategic Priorities and Advances - The company is ranked 1 in Demand Deposit Accounts (DDA) among peers, holding a 21% market share [18] - Banchile Mutual Funds holds the 1 position in Assets Under Management (AUM) with a 24% market share [18] - The company has the lowest delinquency rate among peers, registering at 0.97% [18] - The company's coverage ratio is the highest among peers, covering 356% of loans considering additional provisions [18] - The bank granted US$2.6 billion in Fogape COVID-19 loans to SMEs [18, 34] - Approximately 464,000 personal banking loans were rescheduled through the Customer Support Plan [19, 34] - Cuenta FAN, the digital account, acquired ~170,000 new users since its launch in Sep-20 [20, 23] Financial Performance - The bank's Tier 1 Capital Ratio is at 16% [18] - The Net Fees/Avg Interest Earnings Assets is 1.2% as of December 2020 [44] - The Efficiency Ratio (Cost to Income) is 45.5% [71]