Chile January-October banking results fall 7.52 pct year on year

SANTIAGO Fri Nov 30, 2012 8:25am EST

SANTIAGO Nov 30 (Reuters) - Chile's banking sector profit fell 7.52 percent from a year earlier in the January-October period, due to higher costs linked to provisions, the banking regulator said on Friday.

But profits jumped 38.24 percent in October compared with the prior month, chiefly due to increases in interest margins.

The sector posted a 1.35 trillion peso ($2.82 billion) profit for the first 10 months of the year, the regulator said.

The regulator said total loans in the banking system grew 11.04 percent in the 12-month period to October, and a slim 0.09 percent in October from September.

Santander Chile earned 328.65 billion peso ($684.65 million) in the period, the regulator said.

Banco de Chile posted a 383.54 billion peso ($798.99 million) profit in the period.

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