Banco de Chile (NYSE:BCH) Q3 2024 Earnings Conference Call November 8, 2024 10:30 AM ET
Company Participants
Rodrigo Aravena – Chief Economist and Institutional Relations Officer
Pablo Mejia – Head-Investor Relations
Daniel Galarce – Head-Financial Control and Capital
Conference Call Participants
Yuri Fernandes – JPMorgan
Andres Soto – Santander
Operator
Good afternoon and welcome to Banco de Chile’s Third Quarter 2024 Results Conference Call. If you need a copy of the management financial review, it is available on the company’s website. With us today we have Mr. Rodrigo Aravena, Chief Economist and Institutional Relations Officer; Mr. Pablo Mejia, Head of Investor Relations; and Daniel Galarce, Head of Financial Control and Capital.
Before we begin, I would like to remind you that this call is being recorded and the information discussed today may include forward-looking statements regarding the company’s financial and operating performance. All projections are subject to risks and uncertainties and actual results may differ materially. Please refer to the detailed note in the company’s press release regarding forward-looking statements.
I will now pass the call over to Mr. Rodrigo Aravena. Please go ahead, sir.
Rodrigo Aravena
Good afternoon everyone. Thanks for joining this conference call today. We are pleased to present the performance of Banco de Chile during the third quarter of this year. Once again, our bank demonstrated its unquestionable leadership and consistency over the time. Some of the main achievements of this period includes: we continue leading the industry in profitability after posting a net income of CLP288 billion equivalent to 21.3% return on average equity in the quarter and 22.8% year-to-date. We also outperform our peers in terms of NIM, fees and operating margins.
In addition, our customer income continues to grow on an annual basis, primarily stirred by income from loans on the ground of improved lending
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