Banco de Crédito e Inversiones (BCI) Q2 2026 earnings summary

Executive summary

• Net income for 1H 2026 reached Ch$644,709 million, up 21.01% year-over-year, with ROAE at 14.80% (+153 bps YoY) and efficiency ratio improving to 45.57% (-452 bps YoY).

• Total loans grew 6.13% YoY, led by commercial and consumer segments, while demand deposits rose 10.21%.

• Asset quality improved: credit loss expense fell 14.05% YoY, NPLs ≥90 days dropped to 1.36%, and coverage ratio remained robust at 139.43%.

• International operations contributed significantly, with CNB posting USD182 million net income (Chilean GAAP) and Bci Perú net income up 63% YoY.

• Strategic milestones included the creation of Bci Group, launch of neuroscience-based financial products, AI assistants in retail banking, and opening of Chile’s first entrepreneurship hub.

Financial highlights

• Net interest and indexation margin rose 3.35% YoY, driven by higher inflation and indexation income.

• Net fee income increased 9.99% YoY, supported by card business growth and higher AUM in asset management.

• Net financial income surged 40.77% YoY, mainly from gains on sales of FVOCI instruments.

• Operating expenses decreased 2.49% YoY, reflecting cost containment and efficiency initiatives.

• Tax expense rose 63.37% YoY, driven by higher pre-tax income and exchange rate effects.

Outlook and guidance

• Chilean GDP growth forecast at 1.0% for 2026, with inflation at 3.7% and a likely 25 bps rate cut by year-end.

• U.S. GDP expected to grow 2.1% in 2026, with inflation at 3.4% and a 25 bps rate hike anticipated.

• Peru’s GDP projected to grow 3.0% in 2026, with inflation at 3.6% and a possible 25 bps rate hike.