Bci parent Bci Group reports CLP 1,413 million pre-operating loss

Empresas Juan Yarur, which holds a 55% controlling stake in Banco de Crédito e Inversiones (Bci), called an extraordinary shareholders meeting for September 24, 2026. The meeting aims to approve the transfer of its Bci shares into Bci Group. This restructuring will establish Bci Group as a holding entity that controls both Bci and City National Bank of Florida (CNB) as mutually independent banks.

On August 26, 2026, the Financial Market Commission (CMF) registered Bci Group shares in the Securities Registry. Incorporated on April 2, 2026, the new holding entity reported its second-quarter financial statements. Because it remains in a pre-operating phase without operational revenue, Bci Group posted a net loss of CLP 1,413 million for the period ended June 30, 2026, driven entirely by administrative and regulatory setup expenses.

The company stated that 100% of its shares are subscribed but remain unpaid. Shareholders have three years from incorporation to fulfill this capital requirement through the contribution of Bci shares. Following the share transfer by Empresas Juan Yarur, Bci Group shares will be listed on the Santiago Stock Exchange, and all remaining Bci shareholders will be invited to exchange their shares.

Under the planned framework, Bci Group will oversee strategy and risk, while operational and legal compliance will remain within each bank. The bank explained that Chile's General Banking Act restricts a domestic bank from investing more than 40% of its unconsolidated effective equity abroad. Dividing Bci and CNB under the new holding company resolves this constraint and facilitates future expansion.