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Chile's Bci completes TotalBank purchase

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Chile's Bci completes TotalBank purchase

Banco de Credito e Inversiones SA completed the acquisition of Miami-based TotalBank for $528.9 million, the Chilean bank said in a filing.

Bci achieved all authorizations needed for the transaction after receiving approval from Chilean financial regulator SBIF early in June.

Banco Santander SA agreed to sell TotalBank to the Chilean lender in December 2017. Bci is purchasing TotalBank through its U.S.-based City National Bank of Florida unit.