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News 2017

Once again, BancoEstado is recognized as the safest and strongest bank in Latin America

Subgerencia de Comunicaciones

Washington DC, Oct 24, 2017. 10:00

The Global Finance Magazine unveiled its annual study on the safest banks in the world, highlighting the leadership of BancoEstado in the region.

BancoEstado received a new recognition regarding the work and role it plays in the Chilean society. Once again, the magazine Global Finance highlighted BancoEstado in the "World's Best Bank Awards 2017" as the safest and strongest financial institution in Latin America (Safest Bank in Latam).

The award was received by Mr. Enrique Marshall, CEO of BancoEstado, and Mr. Carlos Martabit, CFO, in a ceremony that took place in Washington DC, USA, in the context of meetings of the International Monetary Fund (IMF) with Chilean authorities.

The same as in 2016, the list was led by Chilean banks, which occupy the top positions in the ranking and, overall, Scotiabank Peru also increased its performance, ranking fifth place.

"Banks in Latin America have faced renewed pressures this year because the economic slowdown in several countries has raised the level of economic uncertainty. Our ranking of the safest banks in the region shows institutions that have built solid foundations, offering security and stability in this rapidly changing environment and provide a consistent tool for comparing the institutional strength within the region”, said Mr. Joseph D. Giarraputo, editor of Global Finance.

Bearing in mind this context, Mr. Enrique Marshall, CEO of BancoEstado, valued the fact that the financial institution has received this distinction for the 6th consecutive time (since 2012) and stressed the fact that the ranking is led by Chilean entities.

Mr. Carlos Martabit, CFO, said that "this recognition confirms BancoEstado's position at the regional level (first) and within emerging markets. Our international ratings granted by the three most important agencies has permitted us to maintain this position over the years”, said the executive.

The full report will be published by the magazine in November and includes the list of the 50 safest banks in the following categories: global level, commercial, emerging markets and continental, among others.