Business Services Industry
Chile: Penta's subsidiaries provided it with positive results.
South American Business Information, November, 2000
The Penta group posted positive results between January and September 2000 due to the performance of its subsidiaries, mainly Banco de Chile (bank) and AFP Cuprum (pension funds). Banco de Chile, in which Pentaholds a 13.3% stake, made profits of Pesos$60.9bil between January and September 2000, a 20.8% increase in comparison with the same period of last year. The bank's return on equity reached 27.3%, lifting the institution from the 2nd to the 1st position in the market over the comparative period. AFP Cuprum, in which Penta holds 31.72% (Sun Life also holds a similar stake), posted profits of Pesos$11.745bil between January and September 2000, an 8% increase in comparison with the sameperiod of 1999. Sales at the company amounted to Pesos$34.914bil until last...
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