Chile banking profits jump in Jan.-Aug. on lower costs, more loans
SANTIAGO Oct 3 (Reuters) - Profits in Chile's banking sector rose 15.76 percent in the January-to-August period from a year earlier, due to falling costs related to provisions and on increased loans, the SBIF banking regulator said on Thursday.
The sector posted a 1.163 trillion peso ($2.272 billion) profit through August, the regulator said. Sector profit in August increased 0.35 percent from July, it added.
Total loans in the banking system expanded 12 percent in the January-to-August period from a year before, the regulator said. Loans grew 3.55 percent in August from July.
Banco de Chile posted a 348.567 billion peso ($681.3 million) profit for the period. Santander Chile, the country's largest bank in terms of assets, earned 243.721 billion pesos ($476.3 million), the regulator said.
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