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News 2014

President Bachelet appoints new BancoEstado Directors

Subgerencia de Comunicaciones

, May 26, 2014. 03:00

Andrea Repetto, Francisco Vidal, Sergio Páez and Pedro Neira are the new Directors of BancoEstado

Michelle Bachelet, the President of the Republic, appointed commercial engineer Andrea Repetto, history and geography teacher Francisco Vidal, general accountant Sergio Páez and attorney Pedro Neira as new directors of BancoEstado.

As from now, they are the members of the Bank’s Executive Committee, which also consists of the President and Vice-president of the banking institution, in addition to the staff representative and the alternative director

The Executive Committee is the body in charge of the senior management of the organization. It has seven members, six of which are appointed by the President of the Republic by  means of a supreme decree of the Ministry of Finance.

One of the members is the President of the Bank, and another its Vice-president. The seventh  member is a representative of the employees elected by themselves, in addition to an alternative director.

The following are the functions of the Committee:

To establish the general policy of the Bank, giving general operational guidelines.

To establish the internal by-laws that will rule the Bank.

To approve the staff remunerations system, open or close branches throughout the country and abroad and give its rulings regarding issues  submitted by the Committee.

Supervise and control top-level Bank activities

Approve the annual balance sheet and annual report, and inform the President of the Republic of operation and development of the corporation, in addition to propose the allocation of any profits at the end of the fiscal year.

Establish, with the approval of the Ministry of Finance,  the remunerations and other stipends paid to Bank personnel who do not take part in the collective bargaining process

Carry out the other functions established by law or by the Bank’s by-laws.