Chile, long considered one of Latin America's most developed and stable countries, is experiencing a post-crisis surge on the back of the high prices for the commodities it exports to Asia, in line with much of the rest of South America. However, the strong outlook for the banking sector has little to do with Chile's famous copper mining industry.
“Most of the large corporate producers are funded by the headquarters of mining groups,” says Raimundo Monge, CEO of Santander Chile. “They tend to borrow very little from local banks.”
