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News 2016

BancoEstado is renown as the most safest and solid bank in Latin America

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Washington, USA, Oct 08, 2016. 14:00

Global Finance Magazine published their annual study on the world’s most secure banks, highlighting leadership of our financial institution in the region.

BancoEstado received a new recognition for its work and role in society. Again, the Global Finance magazine highlighted the bank as the safest and solid entity in Latin America

Mr. Jorge Rodriguez Grossi, Chairman of BancoEstado and Mr. Carlos Martabit, Chief Financial Officer, received the award at a ceremony held on October 8 in Washington DC, United States, in the context of the IMF meetings with Chilean authorities.

Likewise prior year, the list was led by Chilean banks, which scored the top positions of the ranking. Overall, Mexican banks also increased their performance, reaching fifth place

"In the last year, Latin America has experienced political changes in a time of economic uncertainty. Our ranking of the safest banks in the region shows the banks that have built the foundations of a sound security and stability in this rapidly changing environment, providing a consistent basis to compare institutional strength within the region”, said Mr. Joseph D. Giarraputo, publishing editor of Global Finance.

Given this context, Mr. Jorge Rodriguez praised the result obtained by BancoEstado, which considers recognition of a professional and responsible management practice. He also stressed the fact that the ranking is led by Chilean entities. "This talks about the quality and soundness of our banking industry, which allows providing confidence to our customers, especially in decelerated economic cycles such as the one we live in today", he said.

Mr. Carlos Martabit, Chief Financial Officer, said "getting this recognition over several consecutive years fills us with pride, because it reflects serious work based on strict risk controls, good trade policies, excellent liquidity management and diversification of liabilities”.

The magazine will publish the full report in November and include the list of the 50 safest banks in the following categories: global business, emerging markets and continental level, among others.

The original publication is available at this link: https://www.gfmag.com/media/press-releases/press-release-safest-banks-latin-america-2016