S&P: Chilean banking outlook positive

Standard & Poor's said the Chilean banking system remains the least risky in Latin America.

The well-built economic framework granted by a creditworthy sovereign, sound regulatory environment and supervision, good capitalization and favorable overall trends such as growing profitability, enhanced efficiency and improved asset quality summarize the system's main strengths and justify the fact that Chilean financial institutions remain the highest-rated among Latin American banks, the agency said.

The Chilean economy's positive outlook for 2006 suggests that eventual challenges to be faced by the banking system will remain manageable, as positive trends are likely to persist, the agency said.

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