Highlights - BancoEstado

Highlights
FIRST HALF
Standard & Poor’s boosted BancoEstado’s rating in foreign
∑ Began a joint venture with Metlife Inc., which purchased 49.9%
∑ Celebrated along with thousands of customers and their families
currency from A- to A, leaving BancoEstado with the best risk
of BancoEstado Corredores de Seguros, a BancoEstado subsidiary.
the 100,000th micro-business customer in a mega-event in the
rating in Latin America.
The bank successfully issued UF1.7 million (US$ 53 million)
in securitized bonds.
Launched its new website portal, which is easy and quick to
use, with more services and better security.
Awarded the Pablo Neruda Ibero-American poetry prize to the
Mexican, José Emilio Pacheco, along with Chile’s National Council
for Culture and the Arts (Consejo Nacional de la Cultura y las
Artes), through the National Council for Books and Reading
(Consejo Nacional del Libro y la Lectura).
∑ Supported restoration of part of Valparaiso, declared a UNESCO
world heritage site, providing credit for remodeling and repairs
of buildings in its historic sector.
∑ Launched a new credit program for almost 10,000 members
of the Chilean association of open-air fairs and farmers’ markets
Annual Report BancoEstado 2004
(Asociación Chilena de Organizaciones de Ferias Libres, ASOF).
∑ Signed an agreement with the national women’s ministry
(Servicio Nacional de la Mujer, SERNAM) to provide credit to
women heading small and micro-businesses.
∑ Represented by its Chairman, Jaime Estévez, and its Manager
of Administration, Luis Alberto Soto, BancoEstado was
represented at the World Summit Pact, organized by the United
Nations in New York.
∑ Launched Creer, Crear y Crecer (To Believe, Create and Grow),
a book inspired by the visit from Muhammad Yunus in 2003,
along with the Caja de Compensación Los Andes and Revista
Desafío.
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SECOND HALF
∑ BancoEstado and D&S, owner of the Lider supermarket chain,
National Stadium.
formed a joint venture to work together and provide customers
∑ The guarantee fund for small businesses auctioned off UF3.2
with new opportunities.
million (US$ 99 million) in financial resources. In total, funds
∑ Started the process of opening a branch in New York.
∑ Started its major mortgage campaign “Hipotecazo”, offering
financing of up to 100% for mortgages starting at UF 800
(US$ 25 million), with historically low rates.
∑ Launched five new funds for investing in domestic debt
instruments through its subsidiary, BancoEstado S.A.
Administradora General de Fondos.
∑ To support micro- and small business customers, created a
telephone commercial platform that allows them to get preapproval and process credit in 72 hours.
∑ The President of Chile accepted the resignation of Marco Colodro
H. as Vice-Chairman and Director of BancoEstado’s Board of
Directors and appointed his replacement, Jorge Marshall R.
∑ Held the Fifth BancoEstado Seminar for Journalists, on trends
in modern banking, attended by more than 70 members of the
press.
∑ Sponsored the avant premiere of the film Machuca, the top
Chilean film by audience in 2004.
auctioned off in 2004 reached UF12.8 million (US$ 396 million),
the largest amount in the bank’s history.
∑ The newspaper El Mercurio identified the bank’s website as
“essential to companies” giving it the top score, along with two
other Chilean financial institutions.
∑ Started flexible investment financing, which makes it easier for
small businesses to purchase fixed assets.
∑ Organized a special Christmas credit campaign at low interest
rates, despite the increase in basic rate determined by the Central
Bank.
∑ More than 300 representatives of large businesses participated
in the 9th annual meeting on corporate banking, organized by
BancoEstado.
∑ Presented the ranching export credit, along with the agricultural
ministry.
In late December, the President of Chile appointed Jaime
Estévez V. as Minister of Public Works, Transportation and
Telecommunications, and the former minister, Javier Etcheberry
C., became BancoEstado Chairman. Etcheberry assumed his new
post on 13 January 2005.
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Annual Report BancoEstado 2004
BancoEstado
Management.
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A Bank at its Clients’
service
competitive
creating
future
services
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BANCOESTADO
Close to you we are a
AND
GROWTH
competitive
bank.
Bancoestado has an active participation in all of the markets and
it is characterized for being a modern institution having the most
efficient and confident financial instruments.
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