Banco De Chile (BCH)
NYSE:BCH
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Banco De Chile
(NYSE:BCH)
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Rating:58Neutral
Price Target:
$39.00
▼(-6.05% Downside)
Action:Reiterated
Date:05/03/26
The score is driven primarily by mixed financial performance: strong profitability is offset by higher leverage and notably weaker TTM cash flow. Earnings-call guidance and capital strength are supportive, valuation is reasonable with a solid dividend, but technical indicators point to near-term bearish momentum.
Positive Factors
High Profitability
Sustained top-quartile profitability and returns indicate a strong franchise and pricing power across retail and corporate businesses. High ROA/ROAC generates internal capital for dividends, provisioning and reinvestment, supporting resilience through industry cycles and enabling strategic optionality.
Negative Factors
Weak Cash Generation
The recent TTM reversal to negative operating and free cash flow raises medium-term funding and liquidity concerns. Weaker cash conversion limits internal financing for growth, increases reliance on market funding or capital actions, and reduces flexibility to smooth dividends or absorb shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained top-quartile profitability and returns indicate a strong franchise and pricing power across retail and corporate businesses. High ROA/ROAC generates internal capital for dividends, provisioning and reinvestment, supporting resilience through industry cycles and enabling strategic optionality.
Read all positive factors
Banco De Chile (BCH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$19.33B
Dividend Yield5.56%
Average Volume (3M)437.67K
Price to Earnings (P/E)15.6
Beta (1Y)0.53
Revenue Growth-7.31%
EPS Growth-7.03%
CountryUS
Employees11,614
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2260.00
Shares Outstanding505,085,420
10 Day Avg. Volume352,211
30 Day Avg. Volume437,669
Financial Highlights & Ratios
PEG Ratio-11.60
Price to Book (P/B)2.60
Price to Sales (P/S)5.74
P/FCF Ratio23.18
Enterprise Value/Market Cap1.53K
Enterprise Value/Revenue9.65
Enterprise Value/Gross Profit11.30
Enterprise Value/Ebitda19.12
Forecast
1Y Price Target
$42.00Price Target Upside1.18% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.74
Revenue Forecast (FY)$3.57B
Banco De Chile Business Overview & Revenue Model
Company Description
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail Banking, Wholesale Banking, and Treasury and Money Market segments. The company offers deposit p...
How the Company Makes Money
Banco de Chile primarily makes money through (1) net interest income and (2) fee and commission income, supplemented by treasury/market activities and other operating income. Net interest income is earned from the spread between interest collected...
Banco De Chile Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong franchise metrics — market leadership in profitability, robust capital and provisioning, high efficiency and healthy digital/customer traction — which are offset by continued weakness in commercial/wholesale loan demand, normalization of market‑driven income and some near‑term increases in cost of risk. Management provided constructive guidance (ROAC 19%–21%, efficiency ~39%, cost of risk 1.1%–1.2%) and signaled intent to deploy excess capital to grow, but noted macro and policy timing risks that could delay a fuller lending recovery.Positive Updates
Top Industry Profitability and Returns
Banco de Chile delivered record leadership in 2025 with net income of CLP 1.2 trillion for the year and CLP 266 billion in the quarter, a return on average assets of 2.2% versus the industry 1.3%, and return on average capital guidance of 19%–21% for 2026.
Negative Updates
Weak Commercial and Wholesale Loan Demand
Total loans grew only 0.8% YoY to CLP 39.2 trillion; commercial loans fell 3% YoY, wholesale loans declined 5.5% YoY and corporate banking loans dropped 8.8% YoY, driven by subdued private investment, prepayments and FX appreciation reducing foreign currency exposures.
Read all updates
Q4-2025 Updates
Positive
Negative
Top Industry Profitability and Returns
Banco de Chile delivered record leadership in 2025 with net income of CLP 1.2 trillion for the year and CLP 266 billion in the quarter, a return on average assets of 2.2% versus the industry 1.3%, and return on average capital guidance of 19%–21% for 2026.
Read all positive updates
Company Guidance
Banco de Chile's guidance centered on a 2026 baseline of Chile GDP ≈2.4%, inflation converging to ~3% and the policy rate normalizing toward a neutral 4.25% (with scope to reach 4.0% if the peso strengthens); industry forecasts cited ~4.5% nominal loan growth, NIM ≈3.5–3.7%, NPLs falling toward 2.2–2.3% and a credit‑loss expense ratio ~1.2–1.3%. Management expects Banco de Chile to outpace the industry (management referenced ~7% nominal loan growth for the bank, with consumer ~6%, mortgage ~5% and commercial ~8%), and gave 2026 targets of return on average capital 19–21%, efficiency around 39% and cost of risk 1.1–1.2%, noting it starts from a strong capital/coverage position (CET1 14.5%, coverage ~223%).Banco De Chile Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
60
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.07T | 3.03T | 4.65T | 5.09T | 5.31T | 3.03T |
| Gross Profit | 2.62T | 2.64T | 2.69T | 2.77T | 2.71T | 2.20T |
| EBITDA | 1.55T | 1.61T | 1.68T | 1.79T | 1.82T | 1.41T |
| Net Income | 1.14T | 1.19T | 1.25T | 1.37T | 1.45T | 1.06T |
Balance Sheet | ||||||
| Total Assets | 54.54T | 54.10T | 52.06T | 55.72T | 55.11T | 51.43T |
| Cash, Cash Equivalents and Short-Term Investments | 1.60T | 6.48T | 5.14T | 6.78T | 7.51T | 7.10T |
| Total Debt | 13.65T | 13.55T | 12.06T | 11.67T | 10.62T | 9.27T |
| Total Liabilities | 49.16T | 47.42T | 45.55T | 49.64T | 49.68T | 46.61T |
| Stockholders Equity | 5.38T | 6.69T | 6.50T | 6.08T | 5.43T | 4.82T |
Cash Flow | ||||||
| Free Cash Flow | -959.56B | 748.78B | 379.42B | 1.64T | 50.49B | 2.94T |
| Operating Cash Flow | -907.93B | 826.08B | 396.64B | 1.73T | 128.61B | 3.01T |
| Investing Cash Flow | -35.35B | -1.19T | -58.34B | -346.50B | -847.82B | -2.99T |
| Financing Cash Flow | -22.55B | 110.76B | -1.56T | -1.56T | -161.80B | 1.38T |
Banco De Chile Technical Analysis
Positive
41.51
Price Trends
37.39
Positive
38.82
Negative
35.27
Positive
Market Momentum
-0.42
Negative
54.56
Neutral
71.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCH, the sentiment is Positive. The current price of 41.51 is above the 20-day moving average (MA) of 36.78, above the 50-day MA of 37.39, and above the 200-day MA of 35.27, indicating a bullish trend. The MACD of -0.42 indicates Negative momentum. The RSI at 54.56 is Neutral, neither overbought nor oversold. The STOCH value of 71.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BCH.
Banco De Chile Risk Analysis
Banco De Chile disclosed 31 risk factors in its most recent earnings report. Banco De Chile reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco De Chile Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $26.51B | 11.42 | 19.66% | 4.82% | 22.61% | 34.04% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $14.70B | 13.38 | 20.90% | 4.29% | -3.09% | 2.72% | |
64 Neutral | $17.17B | 10.86 | 17.47% | 10.29% | -1.31% | -42.23% | |
62 Neutral | $14.60B | 10.15 | 9.33% | 3.71% | 7.90% | 8.29% | |
58 Neutral | $19.33B | 15.60 | 20.11% | 5.56% | -7.31% | -7.03% | |
58 Neutral | $20.53B | 17.87 | 11.11% | 4.98% | 17.17% | -1.33% |
* Financial Sector Average
BCH
Banco De Chile
37.95
7.84
26.03%
BSBR
Banco Santander Brasil
5.53
0.57
11.38%
BSAC
Banco Santander Chile
31.26
6.95
28.56%
CIB
Grupo Cibest
65.54
25.01
61.72%
BAP
Credicorp
333.27
141.98
74.22%
WF
Woori Finance Holdings Co
62.44
23.32
59.61%
Banco De Chile Corporate Events
Banco de Chile Files 2025 Form 20-F with U.S. SEC
Apr 30, 2026
Banco de Chile, a major Chilean commercial bank listed on the NYSE, operates across retail, corporate, and institutional segments, providing loans, deposits, payments, and other financial services primarily in its domestic market. The bank maintai...
Banco de Chile Posts Lower Profit and Higher Provisions in First-Quarter 2026 Results
Apr 30, 2026
Banco de Chile reported its financial results for the first quarter of 2026 on April 30, 2026, presenting a mixed performance in a detailed management commentary prepared under Chilean and international reporting standards. Net income fell 18.3% y...
Banco de Chile Files First-Quarter 2026 Consolidated Financial Statements With SEC
Apr 30, 2026
On April 30, 2026, Banco de Chile filed a Form 6-K with the U.S. Securities and Exchange Commission, providing its interim consolidated financial statements as of March 31, 2026. The filing delivers updated details on the bank’s balance shee...
Banco de Chile Renews Board and Appoints New Leadership on March 26, 2026
Mar 27, 2026
At its Ordinary Shareholders’ Meeting held on March 26, 2026, Banco de Chile fully renewed its Board of Directors following the expiration of the prior board’s three-year term, appointing a new slate of regular directors and two altern...
Banco de Chile Shareholders Approve 2025 Dividend Payout
Mar 26, 2026
At its Ordinary Shareholders’ Meeting held on March 26, 2026, Banco de Chile approved the payment of a cash dividend of CLP 9.99757030464 per share, drawn from net income for the 2025 financial year. The decision, to be formally communicated...
Banco de Chile Announces Board Resignation and Immediate Independent Director Appointment
Mar 12, 2026
On March 12, 2026, Banco de Chile announced that regular board member Andrés Ergas Heymann resigned from his position, with the board formally acknowledging and accepting the resignation at its ordinary meeting held the same day. In line with...
Banco de Chile Files English Translation of 2025 Annual Report with SEC
Mar 6, 2026
Banco de Chile, a major Chilean commercial bank serving retail and corporate clients, has provided an English translation of its local Annual Report for 2025 to international investors and regulators. This follows its earlier filing of Chilean GAA...
Banco de Chile Raises UF 1 Million in Local Senior Bond Placement Dated March 5, 2026
Mar 5, 2026
On March 5, 2026, Banco de Chile announced that it had completed a new bond placement in the local Chilean market, reinforcing its access to domestic capital funding. The transaction involved the issuance of senior, dematerialized, bearer bonds, s...
Banco de Chile Sets March 26, 2026 Shareholders’ Meeting and Proposes 84.7% Payout of 2025 Earnings
Mar 2, 2026
Banco de Chile has called an Ordinary Shareholders’ Meeting for March 26, 2026 in Santiago to review and approve its 2025 financial statements and related reports. The agenda underscores standard governance matters for a major listed bank, i...
Banco de Chile Raises Long-Term Local Funding with Serie FG Bond Placement
Feb 10, 2026
On February 10, 2026, Banco de Chile informed regulators and local stock exchanges that it completed a placement of senior, dematerialized, bearer bonds in the Chilean local market. The issuance involved Serie FG bonds registered with the Chilean ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.