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Itaú CorpBanca changes Santiago stock exchange, NYSE tickers after merger


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Itaú CorpBanca changes Santiago stock exchange, NYSE tickers after merger

Chile'sItaú CorpBanca changed its ticker symbol on Santiago's stock exchange, ,to ITAUCORP from CORPBANCA and its NYSE ticker symbol to ITCB from BCA, the banksaid April 1.

The moveis the result of the name change of the bank after the merger of BancoItaú Chile with CorpBanca,which was completed April1.

Separately,Itaú CorpBanca CEO Milton Maluhy said the new bank's management was not involvedin the ongoing dispute between CorpBanca and banking regulator SBIF over a $30 millionfine related to loansto companies linked to Chilean firm SociedadQuimica y Minera de Chile SA, Pulsoreported April 1.

AlthoughCorpBanca acceded to a regulatory request to include the fine in its 2015 financialstatements, it is appealing the fine, which its board rejected in January citinga lack of due process in SBIF's decision.

Maluhysaid that the new bank would wait for the court's decision, but he added that ithas "not inherited" the relationship between CorpBanca and SBIF.

"SBIFhas made a very clear distinction between what happened with CorpBanca and whatwill happen with the new bank," Maluhy was quoted as saying.

Underthe terms of the merger,CorpBanca absorbed Banco Itaú Chile but the new entity is controlled by Itaú Chile'sparent, Brazil's Itaú Unibanco HoldingSA.