Banco De Chile ADR
BCH: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| p&l | LOCK|$b&c | LOCK|k#WkC#X |
Increasing Our Valuation on Better Noninterest Income Growth and Foreign Exchange Rate Movements
Business Strategy and Outlook
Banco de Chile's reputation and long history in Chile have enabled it to attract a large pool of non-interest-bearing deposits, resulting in a lower cost of funds compared with most of its rivals. This funding advantage has contributed to the bank's impressive profitability, historically delivering returns on equity in the mid-to-high teens.
