Santander: S&P upgrades outlook on Chilean unit
(CercleFinance.com) - S&P Global Ratings has upgraded its outlook on A-rated Banco Santander-Chile from "negative" to "stable," the Spanish banking giant said on Monday.
This change comes as a result of the agency's analysis on the Chilean banking industry risk and economic risk in general, showing that the trend has improved, Santander said.
This means that S&P expects Santander Chile to continue its good risk management while maintaining a leading competitive position in the Chilean banking system over the next 24 months.
S&P has also revised the outlook from negative to stable for nine other Chilean financial institutions.
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This change comes as a result of the agency's analysis on the Chilean banking industry risk and economic risk in general, showing that the trend has improved, Santander said.
This means that S&P expects Santander Chile to continue its good risk management while maintaining a leading competitive position in the Chilean banking system over the next 24 months.
S&P has also revised the outlook from negative to stable for nine other Chilean financial institutions.
Copyright (c) 2018 CercleFinance.com. All rights reserved.