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Article: Chile: Shareholders approved Banco de Chile and Banco Edwards merger.
- Article from:
- South American Business Information
- Article date:
- December 10, 2001
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Chile, Dec 7, 2001
With 82.504% of the votes favoring Banco de Chile and Banco Edwards merger, the Banco de Chile extraordinary shareholders meeting approved the motion. As a result, Banco de Chile will become the larger banking institution in the country with $525bil in assets, administering assets for $8.5bil, handling 20% of the market's placements, 19% of the market's deposits and more than 20% of the checking accounts and credit cards of the banking system. The meeting approved a capital increase of $218.08bil, paid by the Banco Edwards' assets and debts. With that purpose the Banco de Chile will issue 23.147.126.425 nominative shares without a nominal ...