SANTIAGO, Chile--(BUSINESS WIRE)--Link to Fitch Ratings' Report: Chilean Banking Sector: 2015 Performance
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=877545
Fitch Ratings has published its Chilean Banks Performance Dashboard report with Chilean banking sector year-end results.
Year-end results benefited from recurring operating income from costumers and good asset quality, counterbalancing the persistent economic slowdown, higher corporate taxes, local currency devaluation and lower inflation rate. However, the Chilean banking system's profitability has been resilient through the economic cycles, which is likely to continue. Fitch expects operating ROAA in 2016 could continue to be eroded by lower expected annual inflation (Fitch estimates 3.9%) and that loan growth will be even less dynamic than in 2015.
At the end of 2015, the banking system's gross loans (excluding cross-border lending) had increased 8.3% year over year. Fitch expects these trends will continue during 2016 based on the economic slowdown and a conservative credit risk appetite from the banks.
The full report, 'Chilean Banking Sector 2015 Performance,' is available on Fitch's website at www.fitchratings.com or by clicking on the link above.
Additional information is available at 'www.fitchratings.com'.
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