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    Ernesto María Gabilondo Márquez • Unknown

    Ernesto María Gabilondo Márquez's questions to Banco Santander-Chile (BSAC) leadership

    Ernesto María Gabilondo Márquez's questions to Banco Santander-Chile (BSAC) leadership • Q1 2025

    Question

    Ernesto María Gabilondo Márquez inquired about Chile's economic and political outlook, the potential impact of US tariffs, the drivers behind the updated non-NII growth guidance, and the competitive threat from fintechs like Tenpo and Mercado Pago.

    Answer

    Andrés Sansone, Chief Economist, explained that while the direct impact of US tariffs is limited, indirect effects on business and consumer confidence are a concern. He also noted a political shift towards economic growth and stability. Cristian Vicuna, Head of Strategy and IR, attributed the higher non-NII guidance to a delay in interchange fee reductions. Regarding competition, he stated that Tenpo is not yet a significant competitor, while Mercado Pago is a relevant player to watch, particularly in the acquiring business.

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    Ernesto María Gabilondo Márquez's questions to Banco de Chile (BCH) leadership

    Ernesto María Gabilondo Márquez's questions to Banco de Chile (BCH) leadership • Q4 2024

    Question

    Ernesto María Gabilondo Márquez inquired about Chile's political outlook, including potential presidential candidates and key reforms needed for economic growth. He also asked for the non-interest income growth forecast for 2025, considering potential caps on merchant discount rates.

    Answer

    Executive Rodrigo Aravena addressed the political climate, noting that while candidates are not yet defined, Chile's strong institutional fundamentals support stability and there is broad consensus on reforms to reduce bureaucracy. Executive Pablo Ricci handled the income question, stating that customer growth is the primary driver for fees, and projected mid- to high-single-digit growth for 2025, adding that the proposed merchant fee cap reduction has been suspended.

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    Ernesto María Gabilondo Márquez's questions to Credicorp Ltd (BAP) leadership

    Ernesto María Gabilondo Márquez's questions to Credicorp Ltd (BAP) leadership • Q4 2024

    Question

    Ernesto Gabilondo Márquez inquired about the political outlook for Peru's upcoming presidential election, its potential impact on loan growth, and the company's sustainable Return on Equity (ROE) target for 2027.

    Answer

    CEO Gianfranco Ferrari stated it is too early to provide color on the election but acknowledged its importance. CFO Alejandro Perez-Reyes added that any election-related impact on loan growth would likely occur late in 2025, and the company expects to grow its loan book around 6%, ahead of the market. Gianfranco Ferrari also reaffirmed the company's target of achieving a sustainable ROE of around 18% by 2026, driven by the increasing profitability of its disruptive initiatives.

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