Last year, BCI quadrupled its profits compared to 2024, following two years of annual losses in 2023 and 2022, its first two years of operation.
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In an exclusive interview with Gestión, BCI Group President Ignacio Yarur outlined the Chilean company’s ambitious plans and the corporate decision to create a new holding company.
¿Qué podría significar para Perú y Chile que la guerra en Irán se extienda por sus derivaciones en el precio del petróleo (siendo ambos países importadores netos de crudo)?
When BCI decided to invest in Peru, there were many questions. However, the company was confident that its proposal would resonate with many clients, and time has proven them right, according to Yarur.
¿Podrían ralentizarse las perspectivas que tienen?
The projections for growth in the coming years, which is to triple our business in Peru, remain fully in effect, regardless of the current global conflicts.
BCI Perú tiene US$ 1,500 millones en colocaciones de préstamos, ¿cómo pasará a US$ 4,500 millones?
To achieve this, investment is logically required, not only in the bank’s existing products, but also in corporate and structured finance, which originated credits totaling USD $600 million in the Peruvian market last year.
¿Qué otras inversiones realizarán?
The company will expand treasury capabilities abroad. All the technological platforms that position BCI within commercial banking in Chile are also arriving in Peru, including 360 Connect. All confirming platforms are also entering the Peruvian market. (The bank will invest) in technology, talent, new teams, and everything necessary to increase market share.
¿Prevé la contratación de más talento o fuerza laboral en estos días?
Yes.
¿De qué orden más o menos? ¿En qué porcentaje?
At a minimum, the bank will double its product offerings and workforce over the next three years. Currently, 90 employees work at the entity.
Decisiones. BCI espera contratar más personal estos días. (Foto: iStock)
Segmentos
El objetivo es ambicioso, ¿la empresa va a agregar algún otro segmento dentro de su cartera de clientes o reforzar algún nicho en el que ya opera?
As a bank, we are comfortable in the segment we entered (corporate). Nevertheless, we believe that many more products and services can be incorporated.
¿Ya están trabajando en ampliar su oferta?
We have not yet fully deployed that value proposition to incorporate our Peruvian clients more decisively into the international platform that BCI has built in the United States. But to the question of whether we will enter the retail segment, the answer is no.
BCI Perú atiende a clientes corporativos. (Imagen: Andina)
Nueva sociedad matriz
Planean crear una nueva entidad…
A new holding company, BCI Group, has been established. It will be a Chilean company listed on the stock exchange. It will have two main assets: BCI Chile and BCI Peru. City National Bank of Florida will be separated from BCI Chile and become a subsidiary of BCI Group. This structure will also free up capital that can be used for expansion in the Chilean and Peruvian markets.
¿A qué responde la operación?
We are doing this for several reasons. The first is that it will allow us to better utilize capital outside of Chile because every dollar lent in the United States is expensive in terms of capital in Chile.
¿Cuál es su participación en Estados Unidos?
Chilean regulations prevent investing more than 40% of effective equity in a single foreign country. Currently, BCI is not at the limit in the U.S., but closer to 30%, but given the growth of the bank in Florida, the company does not want to face a problem in three years that prevents further expansion.
¿Cómo será el proceso de constitución de Citi National Bank de Florida?
The next step is the establishment of the holding company. Then, authorization will be requested to list on the Santiago Stock Exchange and for the U.S. Regulator to allow BCI Group to become a banking holding company, which is a company subject to not only the Chilean regulator but also the U.S. Supervisor. We expect this to happen within the next three months.
¿Cuál sería el siguiente paso?
Subsequently, a tender offer (OPA) will be launched for the shares that may be held by all minority investors, so that BCI Group becomes the sole or virtually the sole shareholder of BCI Chile.
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Perspectiva
BCI believes the Peruvian economy has proven resilient to this type of uncertainty and affirms that its commitment to the country is long-term. The company highlighted the country’s potential, particularly in mining, food production, and clean energy.
