Bice aims to double client base by 2005

Chilean bank Bice is aiming to double its individual client base by 2005, local daily La Tercera quoted the bank's CEO Rene Lehuede as saying. This year alone, Bice expects to grow its individual client base 30% to 20,000 and post a 22% rise in company clients to 2,500, Lehuede said. Recent large-scale mergers in the local banking sector have opened up opportunities for smaller banks to increase their client bases, Lehuede said, adding that Bice will seek to expand its traditional client base of high-income individuals, a segment where people usually have relationships with more than one bank and therefore it is not necessary to steal clients from other banks. Bice will remain a conservative bank in terms of risk despite embarking on an aggressive expansion project although it may modify its traditional image next year to reflect its new growth phase, Lehuede said. The bank is also planning to grow in the segment for medium-sized enterprises to take advantage of installed capacity and to obtain economies of scale, he added. Bice is controlled by local financial group Bicecorp, which is owned by one of Chile's largest economic groups, Matte.