Banco de Crédito e Inversiones (BCI) Q2 2025 earnings summary

Executive summary

• Net income for H1 2025 reached $571 million (Ch$532,763 million), up 27% year-over-year, reflecting strong core business growth, disciplined strategy, and robust international operations, especially at CNB.

• Commercial loan portfolio and total deposits grew over 6% and 5% respectively, reinforcing market share and prudent risk management.

• International operations, particularly CNB, delivered robust results with net income up over 81% year-over-year and deposit growth outpacing the industry.

• Recognized as Chile's most sustainable company by Merco ESG, highlighting commitment to responsible growth.

• The capital base is robust, with CET1 at 11.10%, supporting Basel III readiness and strategic flexibility.

Financial highlights

• Q2 2025 net income rose 21.5% year-over-year to $277.8 million; operating revenues up 9.2%, driven by 9.3% net interest income and 19.1% net fee income growth.

• Provision expenses decreased 5% year-over-year, reflecting improved asset quality and active risk management.

• Loans grew 6.3% year-over-year, with commercial portfolio up 6.45% and mortgage loans up 5.4%.

• Fee income rose 22.8% year-over-year, driven by funds management, corporate finance, and higher card transactionality.

• Net financial income surged 54.2% year-over-year, aided by better hedging and trading results.

Outlook and guidance

• GDP growth for Chile projected at 2.1%-2.3% for 2025, inflation at 3.8%, and monetary policy rate at 4.25%.

• Loan growth guidance adjusted to 5%-7% due to moderate credit demand; fee income growth revised to 13%-15%.

• Core expenses expected to rise around 6%; cost of risk to remain flat; CNB loan growth revised upward to high single digits.

• Full-year consolidated net income guidance raised to 20%-22% growth, with 2025 ROE expected at 13%-13.3% and medium-term target of 14% by 2026.

• Focus remains on sustainable growth, digital transformation, and risk management amid global volatility.