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Banco de Chile

SNSE:CHILE
Snowflake Description

Established dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHILE
SNSE
CLP9,380B
Market Cap
  1. Home
  2. CL
  3. Banks
Company description

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The last earnings update was 20 days ago. More info.


Add to Portfolio Compare Print
CHILE Share Price and Events
7 Day Returns
6.7%
SNSE:CHILE
6.3%
CL Banks
4.4%
CL Market
1 Year Returns
-4.7%
SNSE:CHILE
-7.8%
CL Banks
-10%
CL Market
CHILE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Banco de Chile (CHILE) 6.7% -9.6% -10.3% -4.7% 23.7% 36.8%
CL Banks 6.3% -7.8% -6.9% -7.8% 29.5% 48.3%
CL Market 4.4% -7.3% -1.8% -10% 5.4% 1.1%
1 Year Return vs Industry and Market
  • CHILE outperformed the Banks industry which returned -7.8% over the past year.
  • CHILE outperformed the Market in Chile which returned -10% over the past year.
Price Volatility
CHILE
Industry
5yr Volatility vs Market

Value

 Is Banco de Chile undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Banco de Chile to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Banco de Chile.

SNSE:CHILE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= CLP30.55 * 18.6%
CLP5.67
Book Value of Equity per Share Median Book Value from the past 5 years. CLP30.55
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year CL Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SNSE:CHILE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CL Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.616 (1 + (1- 26%) (143.42%))
1.266
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.266 * 5.96%)
10.28%

Discounted Cash Flow Calculation for SNSE:CHILE using Excess Returns Model Model

The calculations below outline how an intrinsic value for Banco de Chile is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SNSE:CHILE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.6% – 10.28%) * CLP30.55)
CLP2.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CLP2.53 / (10.28% - 2.73%)
CLP33.54
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CLP30.55 + CLP33.54
CLP64.08
SNSE:CHILE Discount to Share Price
Calculation Result
Value per share (CLP) From above. CLP64.08
Current discount Discount to share price of CLP92.86
= -1 x (CLP92.86 - CLP64.08) / CLP64.08
-44.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Banco de Chile is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Banco de Chile's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Banco de Chile's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SNSE:CHILE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CLP CLP6.01
SNSE:CHILE Share Price ** SNSE (2019-11-18) in CLP CLP92.86
Chile Banks Industry PE Ratio Median Figure of 7 Publicly-Listed Banks Companies 15.55x
Chile Market PE Ratio Median Figure of 133 Publicly-Listed Companies 13.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Banco de Chile.

SNSE:CHILE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SNSE:CHILE Share Price ÷ EPS (both in CLP)

= 92.86 ÷ 6.01

15.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco de Chile is good value based on earnings compared to the CL Banks industry average.
  • Banco de Chile is overvalued based on earnings compared to the Chile market.
Price based on expected Growth
Does Banco de Chile's expected growth come at a high price?
Raw Data
SNSE:CHILE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
11.4%per year
South America Banks Industry PEG Ratio Median Figure of 23 Publicly-Listed Banks Companies 0.95x
Chile Market PEG Ratio Median Figure of 29 Publicly-Listed Companies 1.07x

*Line of best fit is calculated by linear regression .

SNSE:CHILE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.44x ÷ 11.4%

1.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco de Chile is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Banco de Chile's assets?
Raw Data
SNSE:CHILE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CLP CLP33.89
SNSE:CHILE Share Price * SNSE (2019-11-18) in CLP CLP92.86
Chile Banks Industry PB Ratio Median Figure of 7 Publicly-Listed Banks Companies 1.71x
Chile Market PB Ratio Median Figure of 161 Publicly-Listed Companies 1.03x
SNSE:CHILE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SNSE:CHILE Share Price ÷ Book Value per Share (both in CLP)

= 92.86 ÷ 33.89

2.74x

* Primary Listing of Banco de Chile.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Banco de Chile is overvalued based on assets compared to the CL Banks industry average.
X
Value checks
We assess Banco de Chile's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Banco de Chile has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Banco de Chile expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Banco de Chile expected to grow at an attractive rate?
  • Banco de Chile's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Banco de Chile's earnings growth is positive but not above the Chile market average.
  • Banco de Chile's revenue growth is expected to exceed the Chile market average.
Annual Growth Rates Comparison
Raw Data
SNSE:CHILE Future Growth Rates Data Sources
Data Point Source Value (per year)
SNSE:CHILE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 11.4%
SNSE:CHILE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 11.7%
Chile Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.4%
South America Banks Industry Revenue Growth Rate Market Cap Weighted Average 12.7%
Chile Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Chile Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SNSE:CHILE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in CLP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SNSE:CHILE Future Estimates Data
Date (Data in CLP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,463,116 773,063 7
2020-12-31 2,250,194 690,609 7
2019-12-31 2,023,159 617,314 5
2019-11-19
SNSE:CHILE Past Financials Data
Date (Data in CLP Millions) Revenue Cash Flow Net Income *
2019-09-30 1,683,880 -828,223 607,385
2019-06-30 1,640,191 -1,119,512 583,321
2019-03-31 1,573,337 -1,703,180 553,758
2018-12-31 1,591,871 -2,184,741 594,872
2018-09-30 1,521,986 -1,455,736 575,702
2018-06-30 1,506,087 -501,178 581,415
2018-03-31 1,488,657 578,526 578,670
2017-12-31 1,474,287 914,347 576,012
2017-09-30 1,432,237 477,048 557,694
2017-06-30 1,442,062 243,820 568,548
2017-03-31 1,438,639 65,134 559,715
2016-12-31 1,425,057 -290,737 552,249

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Banco de Chile's earnings are expected to grow by 11.4% yearly, however this is not considered high growth (20% yearly).
  • Banco de Chile's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SNSE:CHILE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Banco de Chile Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SNSE:CHILE Future Estimates Data
Date (Data in CLP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 7.30 7.34 7.24 3.00
2020-12-31 6.78 7.40 5.95 6.00
2019-12-31 6.07 6.36 5.39 5.00
2019-11-19
SNSE:CHILE Past Financials Data
Date (Data in CLP Millions) EPS *
2019-09-30 6.01
2019-06-30 5.77
2019-03-31 5.48
2018-12-31 5.89
2018-09-30 5.70
2018-06-30 5.77
2018-03-31 5.74
2017-12-31 5.70
2017-09-30 5.51
2017-06-30 5.61
2017-03-31 5.52
2016-12-31 5.43

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Banco de Chile is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Banco de Chile's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Chile market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the South America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Banco de Chile has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Banco de Chile performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Banco de Chile's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Banco de Chile's year on year earnings growth rate has been positive over the past 5 years.
  • Banco de Chile's 1-year earnings growth exceeds its 5-year average (5.5% vs 0.5%)
  • Banco de Chile's earnings growth has not exceeded the CL Banks industry average in the past year (5.5% vs 14.8%).
Earnings and Revenue History
Banco de Chile's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Banco de Chile Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SNSE:CHILE Past Revenue, Cash Flow and Net Income Data
Date (Data in CLP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,683,880.00 607,385.00 815,626.00
2019-06-30 1,640,191.00 583,321.00 808,801.00
2019-03-31 1,573,337.00 553,758.00 785,301.00
2018-12-31 1,591,871.00 594,872.00 773,696.00
2018-09-30 1,521,986.00 575,702.00 747,697.00
2018-06-30 1,506,087.00 581,415.00 732,206.00
2018-03-31 1,488,657.00 578,670.00 727,645.00
2017-12-31 1,474,287.00 576,012.00 719,890.00
2017-09-30 1,432,237.00 557,694.00 714,895.00
2017-06-30 1,442,062.00 568,548.00 716,102.00
2017-03-31 1,438,639.00 559,715.00 717,676.00
2016-12-31 1,425,057.00 552,249.00 718,854.00
2016-09-30 1,432,496.00 568,313.00 719,108.00
2016-06-30 1,396,632.00 557,410.00 705,405.00
2016-03-31 1,373,264.00 574,807.00 684,589.00
2015-12-31 1,343,289.00 558,995.00 664,954.00
2015-09-30 1,370,302.00 547,030.00 720,947.00
2015-06-30 1,366,541.00 571,948.00 708,001.00
2015-03-31 1,346,857.00 557,045.00 699,326.00
2014-12-31 1,362,409.00 591,080.00 685,550.00
2014-09-30 1,320,341.00 595,829.00 612,297.00
2014-06-30 1,306,087.00 574,497.00 598,624.00
2014-03-31 1,257,077.00 542,882.00 585,242.00
2013-12-31 1,214,407.00 513,602.00 575,441.00
2013-09-30 1,205,866.00 520,420.00 567,653.00
2013-06-30 1,158,137.00 482,819.00 566,160.00
2013-03-31 1,131,465.00 467,919.00 562,759.00
2012-12-31 1,133,306.00 467,610.00 557,935.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Banco de Chile has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Banco de Chile used its assets more efficiently than the CL Banks industry average last year based on Return on Assets.
  • Unable to establish if Banco de Chile improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Banco de Chile's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Banco de Chile has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Banco de Chile's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Banco de Chile's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Banco de Chile Company Filings, last reported 1 month ago.

SNSE:CHILE Past Debt and Equity Data
Date (Data in CLP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,423,957.00 13,304,333.00 6,491,826.00
2019-06-30 3,392,651.00 11,294,203.00 5,164,130.00
2019-03-31 3,300,950.00 10,321,779.00 4,920,919.00
2018-12-31 3,304,153.00 10,824,488.00 3,476,530.00
2018-09-30 3,223,523.00 10,221,764.00 4,812,294.00
2018-06-30 3,167,694.00 9,911,277.00 3,529,521.00
2018-03-31 3,103,015.00 9,574,092.00 4,791,573.00
2017-12-31 3,105,715.00 9,293,632.00 2,985,044.00
2017-09-30 3,037,396.00 8,994,234.00 3,793,635.00
2017-06-30 2,983,832.00 8,886,033.00 4,502,164.00
2017-03-31 2,896,266.00 8,944,037.00 3,891,674.00
2016-12-31 2,887,411.00 8,436,857.00 2,519,659.00
2016-09-30 2,853,177.00 8,577,366.00 3,497,939.00
2016-06-30 2,791,000.00 8,387,856.00 3,691,596.00
2016-03-31 2,760,995.00 8,483,912.00 3,458,207.00
2015-12-31 2,740,087.00 8,943,893.00 3,351,137.00
2015-09-30 2,667,819.00 9,160,099.00 3,638,852.00
2015-06-30 2,609,503.00 8,113,978.00 3,315,289.00
2015-03-31 2,528,563.00 7,728,919.00 3,368,377.00
2014-12-31 2,535,156.00 7,265,906.00 2,783,035.00
2014-09-30 2,438,311.00 6,995,850.00 2,890,263.00
2014-06-30 2,380,703.00 6,384,241.00 2,712,962.00
2014-03-31 2,292,249.00 6,281,562.00 2,734,267.00
2013-12-31 2,284,316.00 6,058,323.00 2,175,355.00
2013-09-30 2,225,831.00 5,531,569.00 2,702,427.00
2013-06-30 2,167,197.00 5,848,648.00 3,004,505.00
2013-03-31 2,145,082.00 5,344,989.00 2,165,027.00
2012-12-31 2,007,059.00 4,989,332.00 1,731,165.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Banco de Chile has an acceptable proportion of non-loan assets held.
  • Banco de Chile's liabilities are made up of primarily low risk sources of funding.
  • Banco de Chile has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Banco de Chile's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Banco de Chile has a low allowance for bad loans.
  • Banco de Chile has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Banco de Chile's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Banco de Chile has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Banco de Chile's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.8%
Current annual income from Banco de Chile dividends. Estimated to be 4.12% next year.
If you bought CLP2,000 of Banco de Chile shares you are expected to receive CLP76 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Banco de Chile's pays a higher dividend yield than the bottom 25% of dividend payers in Chile (2.11%).
  • Banco de Chile's dividend is below the markets top 25% of dividend payers in Chile (5.31%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SNSE:CHILE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Chile Banks Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.1%
Chile Market Average Dividend Yield Market Cap Weighted Average of 133 Stocks 4%
Chile Minimum Threshold Dividend Yield 10th Percentile 0.9%
Chile Bottom 25% Dividend Yield 25th Percentile 2.1%
Chile Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SNSE:CHILE Future Dividends Estimate Data
Date (Data in CLP) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.19 2.00
2020-12-31 3.84 4.00
2019-12-31 3.56 3.00
2019-11-19
SNSE:CHILE Past Annualized Dividends Data
Date (Data in CLP) Dividend per share (annual) Avg. Yield (%)
2019-03-04 3.527 3.524
2018-03-23 3.078 3.098
2017-03-24 2.784 3.104
2016-03-28 3.146 4.450
2015-02-03 3.126 4.743
2014-02-07 3.103 4.772
2013-03-04 2.983 4.559
2013-01-29 2.983 4.330
2012-07-30 2.558 4.141
2012-03-22 2.558 4.118
2011-02-02 2.471 4.249
2011-01-27 2.471 4.300
2010-01-29 2.941 5.729
2009-06-30 1.921 5.372
2009-01-29 1.921 6.505
2009-01-02 1.921 6.673

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Banco de Chile's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Banco de Chile's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Banco de Chile afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Banco de Chile has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Banco de Chile's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eduardo Ebensperger Orrego
AGE 54
TENURE AS CEO 3.5 years
CEO Bio

Mr. Eduardo Ebensperger Orrego serves as Chief Executive Officer of Banco de Chile since May 1, 2016 and served as its General Manager of Commercial Division since December 30, 2015. Mr. Ebensperger Orrego served as a Manager of Commercial Division at Banco de Chile since December 1, 2014. Mr. Ebensperger Orrego served as General Manager of Wholesale, Large Corporations & Real Estate Division at Banco de Chile. Mr. Ebensperger Orrego served as a Wholesale Large Companies and Real Estate Division Manager at Banco de Chile since June 2005. Mr. Ebensperger Orrego served as a Manager of Wholesale, large corporations and real estate division of Banco de Chile since June 2005 and also served as its Manager of Large Companies Division. He served as Chief Executive Officer of Banchile Factoring S.A. from 2002 to 2005. He joined Banco de A. Edwards in 1989. Mr. Ebensperger Orrego served as Manager of the Medium Size Companies Division and Manager of the Regional Branches of Banco de A. Edwards from 1997 to 2001 and also its Manager Middle-Market Corporate Division. He serves as Chairman of the Board of Artikos S.A. He serves as a Member of the board of directors of Banchile Asesoria Financera S.A., Banchile Securitizadora S.A. and Banchile Factoring S.A. Mr. Ebensperger Orrego holds a degree in business and economics from the Universidad de Chile.

CEO Compensation
  • Insufficient data for Eduardo to compare compensation growth.
  • Insufficient data for Eduardo to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Banco de Chile management team in years:

5.3
Average Tenure
54
Average Age
  • The average tenure for the Banco de Chile management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Pablo Granifo Lavín

TITLE
Chairman & President
COMPENSATION
CLP999M
AGE
60

Andrés Fernando Ergas Heymann

TITLE
Director
COMPENSATION
CLP156M
AGE
53
TENURE
5.3 yrs

Eduardo Ebensperger Orrego

TITLE
Chief Executive Officer
AGE
54
TENURE
3.5 yrs

Rolando Arias Sánchez

TITLE
Chief Financial Officer
AGE
54
TENURE
5.4 yrs

Esteban Kemp De La Hoz

TITLE
Operations & Technology Division Manager
AGE
40
TENURE
1.3 yrs

Héctor Hernández González

TITLE
General Manager of Accounting

Pablo Mejia Ricci

TITLE
Head of Investor Relations
TENURE
9.8 yrs

Nelson Rojas Preter

TITLE
General Legal Counsel & Secretary of Board of Directors
AGE
65
TENURE
15.8 yrs

Felipe Echaiz Bornemann

TITLE
Manager of Global Compliance Division
AGE
52
TENURE
11.8 yrs

Claudia Marcela García

TITLE
Manager of Marketing & Digital Banking Division
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the Banco de Chile board of directors in years:

5.6
Average Tenure
57
Average Age
  • The tenure for the Banco de Chile board of directors is about average.
Board of Directors

Pablo Granifo Lavín

TITLE
Chairman & President
COMPENSATION
CLP999M
AGE
60
TENURE
12.7 yrs

Andrónico Mariano Luksic Craig

TITLE
Vice Chairman of the Board
COMPENSATION
CLP186M
AGE
65
TENURE
17.7 yrs

Alvaro Jaramillo Escallon

TITLE
Vice Chairman of the Board
AGE
54
TENURE
1.8 yrs

Jaime Estévez Valencia

TITLE
Independent Director
COMPENSATION
CLP222M
AGE
73
TENURE
12.7 yrs

José Francisco Pérez Mackenna

TITLE
Director
COMPENSATION
CLP137M
AGE
61
TENURE
18.7 yrs

Hernán Büchi Buc

TITLE
Director
COMPENSATION
CLP87M
AGE
70
TENURE
0.3 yrs

Jean-Paul Luksic Fontbona

TITLE
Director
COMPENSATION
CLP70M
AGE
54
TENURE
6.6 yrs

Samuel Libnic

TITLE
AGE
53
TENURE
4.6 yrs

Andrés Fernando Ergas Heymann

TITLE
Director
COMPENSATION
CLP156M
AGE
53
TENURE
2.7 yrs

Alfredo Cutiel Ergas Segal

TITLE
Independent Director
COMPENSATION
CLP157M
AGE
53
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CLP) Value (CLP)
X
Management checks
We assess Banco de Chile's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Banco de Chile has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits and accounts, saving accounts, and time deposits; credit and debit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing. The company also provides commercial loans, such as factoring and leasing; trade finance services; liquidity management services, debt instruments, foreign trade, and derivative contracts; capital markets services; and cash management and non-lending services that include payroll, payment, and collection services, as well as treasury, financial advisory, and risk management products. In addition, it offers securities brokerage, mutual funds management, investment banking, insurance brokerage, and securitization services. The company serves individuals; small and medium enterprises; and wholesale customers. As of December 31, 2018, it operated through 390 branches comprising 245 branches under the Banco de Chile brand name, 41 branches under the Banco Edwards Citi brand name, and 104 branches under the Banco CrediChile brand name, as well as 1,485 automatic teller machines. Banco de Chile was founded in 1855 and is headquartered in Santiago, Chile.

Details
Name: Banco de Chile
CHILE
Exchange: SNSE
Founded: 1855
CLP9,380,446,152,246
101,017,081,114
Website: http://www.bancochile.com
Address: Banco de Chile
Paseo Ahumada 251,
Santiago,
Region Metropolitana (Santiago), Chile
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SNSE CHILE Common Stock Santiago Stock Exchange CL CLP 21. Jan 1998
NYSE BCH SPON ADR REP 600 ORD NPV New York Stock Exchange US USD 02. Jan 2002
DB G4RA SPON ADR REP 600 ORD NPV Deutsche Boerse AG DE EUR 02. Jan 2002
BMV BCH N SPON ADR REP 600 ORD NPV Bolsa Mexicana de Valores MX MXN 02. Jan 2002
Number of employees
Current staff
Staff numbers
0
Banco de Chile employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 18:07
End of day share price update: 2019/11/18 00:00
Last estimates confirmation: 2019/11/15
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.