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Banco De Chile (BCH)
NYSE:BCH
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Earnings Data
Report Date
Feb 03, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.6Last Year’s EPS
$0.82Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -5.65%
|Next Earnings Date:Feb 03, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Banco de Chile's strong profitability, efficiency improvements, and successful digital transformation initiatives. However, it also acknowledged challenges in the economic environment affecting loan growth and investment, as well as some concerns regarding credit risk and coverage levels. Despite these challenges, the bank's strong capitalization and market leadership suggest a positive outlook.Company Guidance
During the third quarter 2024 earnings call for Banco de Chile, the executives provided detailed guidance about the bank's financial performance and market outlook. Key metrics highlighted included a net income of CLP 288 billion, reflecting a 21.3% return on average equity for the quarter, and a strong year-to-date return of 22.8%. The bank's cost-to-income ratio stood at 56.5% year-to-date, outperforming peers. The Chilean economy showed signs of recovery with a GDP growth of 2.2% year-on-year, while inflation was at 4.1% in September. The Central Bank's interest rate was cut to 5.25%, following a reduction of 600 basis points since July 2023. Loan growth remained moderate at 3.9% year-on-year, with consumer loans growing by 4.1%. Banco de Chile maintained a coverage ratio of 2.6x for expected credit losses, supported by additional provisions totaling CLP 700 billion. The bank's CET1 ratio reached 14.3%, positioning it strongly in the market. The executives expressed cautious optimism for the future, with an ROE target of around 18% and a forecasted GDP growth of 2.3% for 2024.Strong Profitability Metrics
Banco de Chile posted a net income of CLP 288 billion, achieving a return on average equity of 21.3% for the quarter and 22.8% year-to-date, leading the industry in profitability.
Efficiency Improvements
Achieved a cost-to-income ratio of 56.5% year-to-date, outperforming main peers and long-term targets, driven by strong top-line growth and efficiency initiatives.
Revenue and Market Share Growth
Operating revenues grew 6% year-on-year, with customer income rising 8%. Banco de Chile gained market share in loans by growing faster than the market in all segments.
Digital Transformation Success
Digital client base increased by 36% year-on-year. New functionalities and digital tools were introduced, enhancing customer experience and operational efficiency.
High Capitalization Levels
The CET1 ratio reached 14.3%, consistently outperforming peers, indicating strong capitalization ahead of Basel III implementation.
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BCH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BCH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $24.24 | $23.67 | -2.35% |
| Jul 30, 2024 | $23.63 | $23.54 | -0.38% |
| Apr 30, 2024 | $22.48 | $22.08 | -1.78% |
| Jan 25, 2024 | $21.11 | $21.30 | +0.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Banco De Chile (BCH) report earnings?
Banco De Chile (BCH) is schdueled to report earning on Feb 03, 2025, Before Open Not Confirmed.
What is Banco De Chile (BCH) earnings time?
Banco De Chile (BCH) earnings time is at Feb 03, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BCH EPS forecast?
BCH EPS forecast for the fiscal quarter 2024 (Q4) is $0.6.
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