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Chile's Banco Consorcio approves capital increase worth 17.7B pesos

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Chile's Banco Consorcio approves capital increase worth 17.7B pesos

shareholders approvedon April 4 a capital increase of 17.70 billion Chilean pesos through the capitalizationof 50% of the company's 2015 profits, the bank said in a securities filing April6.

The bankwill issue 8,566 shares without nominal value to existing shareholders at a rateof 0.05348 new shares per existing share.

Shareholdersalso agreed to realize a dividend payment totaling 17.70 billion pesos correspondingto the remaining 50% of the bank's 2015 profits.

BancoConsorcio is the banking unit of Chilean financial group Consorcio Financiero S.A.

As of April 6, US$1 was equivalentto 675.07 Chilean pesos.