Santander Chile sees loan growth of $2.8 bln in 2016
SANTIAGO, April 26 (Reuters) - Banco Santander-Chile expects its loan portfolio to expand by $2.8 billion in 2016 and sees loan growth across Chile's banking industry of between 6 percent to 8 percent this year, the bank's Chief Executive Claudio Melandri said on Tuesday.
"If there is no significant deterioration in employment, the financial system could have another relatively good year, with loans that could grow around 6 to 8 percent at the industry level," Melandri said. He added that the Banco Santander-Chile's loan portfolio should grow in line with the overall industry.
Santander Chile's total loan portfolio for 2015 came to 25.3 trillion pesos ($37.9 billion).
Melandri said Banco Santander-Chile expects to make investments of $430 million between 2016-18 for technological improvements, programs to improve service, and expanding distribution networks. (Reporting by Gram Slattery; Editing by Anthony Esposito and Alan Crosby)
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