Bank of the Year – Chile 2017: Santander

Bank of the Year – Chile 2017: Santander

Chile’s financial services sector has faced a gradual deceleration over the past two years, and banks are adapting to an environment of diminishing credit demand. While its book value has declined over the past year, Santander Chile has managed to restructure its balance sheet. In October, the lender recorded the highest price-to-book ratio among Chilean banks at 3.403, on par with Banchile, according to data from YCharts. Santander Chile’s country head Claudio Melandri says the bank’s ability to tap ample liquidity has enabled it to stay efficient in a weaker operating environment. For example, in mitigating weakened credit demand, the bank allocated more funds to its asset management and i

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