Profile: CorpBanca (BCA)
27 Aug 2015
Corpbanca (the Bank), incorporated on February 20, 1871, is a Chile-based bank. The Bank offers a range of commercial and retail banking services to its customers. The Bank operates through seven segments: Large, Corporate and Real Estate Companies; Companies; Traditional and Private Banking; Lower Income Retail Banking; Treasury and International; Financial Services Offered Through Subsidiaries, and Colombia.
The Large, Corporate and Real Estate Companies segment includes companies that belong to different economic groups, specific industries and companies with sales around $60 million. It also includes real estate companies and financial institutions.
The Companies segment offers a range of financial products and services. The segment offers financial products and services to companies with annual sales under $60 million.
The Traditional and Private Banking segment offers checking accounts, consumer loans, credit cards and mortgage loans. The segment offers its products to middle and upper income customers.
The Lower Income Retail Banking segment includes Banco Condell. The Bank under the Banco Condell brand offers consumer lending, credit card services, mortgage loans, insurance and time deposits to the underserved low-to-middle income segments of the Chilean population. The Bank offers personal loans, such as personal debt consolidation loans, and MasterCard credit cards. As of December 31, 2014, the Bank had issued 1,889 credit cards under the brand name Banco Condell.
The Treasury and International segment includes treasury activities and international businesses.Its treasury activities include financial management, funding and liquidity. Through its Treasury and International segment, the Bank manages its trading functions, market making, and distribution and sales of flow and non-flow instruments for its corporate clients.
The Financial Services Offered Through Subsidiaries segment includes services provided by its subsidiaries. The services include insurance brokerage, financial advisory service, asset management and securities brokerage.
The Colombia segment includes services provided by CorpBanca Colombia, Helm Bank and their subsidiaries. The segment offers commercial and retail banking services.
The Bank competes with Banco del Estado de Chile, BCI, Banco de Chile, Banco Santander-Chile, JPMorgan Chase, Deutsche Bank, BNP Paribas, Banefe, CrediChile and Ripley Compania de Financiamiento S.A.
Huerfanos 1072, Casilla 80 D