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BCI board proposes 340B Chilean pesos capital hike

Chile's Banco de Credito e Inversiones SA will ask its shareholders to approve a proposed capital increase worth 340 billion pesos through the issuance of new shares, the bank said in a Feb. 27 filing.

The company has called a shareholder meeting for March 27 to vote on the move.

It will also propose a dividend of 1,050 Chilean pesos per share, corresponding to 35.32% of 2017 profits. The board plans to use the rest of the profits to increase the company's share capital.

As of Feb. 26, US$1 was equivalent to 587.28 Chilean pesos.