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Superintendence for Banks and Financial Institutions (SBIF) approves merger between Banco de Chile and Citibank

The SBIF's decision approves the dissolution of Citibank Chile beginning on January 1st, 2008.

08 de Enero de 2008 | 13:55 | Economía y Negocios Online

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SANTIAGO.- The Superintendence for Banks and Financial Institutions (SBIF) has approved a merger agreement reached between Banco de Chile and Citibank Chile.


The SBIF's decision states: "The merger that has been agreed upon between Banco de Chile and Citibank is herby approved through the consignment of all assets of the latter to Banco de Chile, which assumes all of the company's liabilities".


The document approves the dissolution of Citibank-Chile as of January 1st, 2008.


Reforms presented to Banco de Chile's regulations have also been approved.