Banco del Estado de Chile, or BancoEstado, opened its first branch in the Chilean coastal town of Tongoy, the bank said in a press release.

The new branch is part of the plan to open new branches aimed at widening territorial coverage and deepening financial inclusion in the country, BancoEstado noted.

Currently, BancoEstado holds 398 branches, 108 ServiEstado banking correspondents, 20,400 CajaVecina points of service and more than 2,300 ATMs across the country.