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

Executive summary

• Net income for 1H 2026 rose 21% year-over-year to $699 million (Ch$644,709 million), driven by diversified business lines, prudent risk management, and robust capital and liquidity positions, with ROAE at 14.80% and efficiency ratio improving to 45.57%.

• City National Bank delivered 47% bottom-line growth, while Chile operations maintained leadership in commercial and consumer lending; international operations, including Bci Perú and Bci Miami, contributed significantly.

• Efficiency ratio improved by 452 basis points year-over-year, reaching 45.6% as of June, with operating expenses down 2.5% year-over-year.

• Total loans expanded 6.13% year-over-year, led by commercial and consumer segments, and demand deposits rose 10.21%.

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

Financial highlights

• Q2 2026 net income reached $386.8 million, up 37.5% year-over-year; total operating income rose 19.7% year-over-year to $985.6 million, with net interest income up 14.8%.

• Fee income increased 10% year-over-year, supported by growth in both retail and wholesale banking, with net fee income up 9.99% year-over-year.

• Loan loss expenses decreased by 14% year-over-year to $160.9 million, reflecting strong asset quality.

• Deposits grew 2.9% year-over-year, with demand deposits up 10.21% year-over-year.

• International operations: Peru assets up 43.7% year-over-year, Miami net income up 69.4% year-over-year.

Outlook and guidance

• Full-year 2026 guidance raised: consolidated net income expected to grow 17–19%, with ROAE improving to ~15%.

• Chile loan growth projected at 6–7%, double-digit fee income growth, and 1% decrease in core operating expenses.

• City National Bank expects 8–10% loan growth, NIM at 3%, and a 35% net income increase.

• Cost of risk projected to remain flat at current levels.

• Macroeconomic forecasts: Chilean GDP growth at 1.0%, U.S. at 2.1%, and Peru at 3.0% for 2026.