BancoEstado records 19-20% ROE
Bnamericas Published: Wednesday, November 12, 2003
Chilean state bank BancoEstado has reached an ROE before taxes of 19-20%, the bank's chairman Jaime Estevez was quoted by local financial daily Estrategia as saying. Estevez added the bank's after tax ROE is not comparable to the rest of the local banking system because of an additional 40% tax it pays to the Chilean treasury.
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