translated from Spanish: Bice and BancoEstado, the two banks with the worst performance in the delivery of COVID/Fogape credits

Although banking, in general, is already about to reach 70 thousand COVID/Fogape loans made to companies that urgently needed them for health quarantine, mainly SMEs, there are two banks that excel or stand out negatively compared to their peers, for the few loans made in relation to the applications received. This, according to the latest official information released – and updated as of 29 May – by the Financial Market Commission (CMF), a banking regulator.
Among the largest and most massive banks, the worst has been BancoEstado, since of the 96,406 credit applications it has received, it has only made 27,492 loans, or a short 28% of the total.
Meanwhile, among the smaller or “boutique” or “elite” banks, it highlights the poor performance of the bank Bice, which of the 211 loan applications it has received, has taken only 39 of them, that is, a lean 19% of the total.
The paradoxical thing is that BancoEstado is state-owned, founded and justifies its existence – according to connoisseurs – precisely in being able to support the Government’s public policies in the financial sphere, as is in these times the rapid, expeditious and efficient delivery of COVID/Fogape credits, with preferential rate and state guarantee, to companies that need it.
As for Bice, the incongruous thing is that it is a banking house owned by the Matte family, to which Bernardo Larraín Matte, the president of the business union Sofofa, composed, directly or indirectly, belongs by many companies that need credit.

Original source in Spanish