BancoEstado - Huella Social

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OUR FOOTPRINT
Social Footprint Social Footprint

SOCIAL FOOTPRINT

As Chile’s only public bank, we aspire to improve our clients’ quality of life and that of the country’s citizens in general by fostering financial inclusion, expanding our geographical coverage, supporting smaller companies, developing a multichannel model with an emphasis on online channels and promoting financial education, responsible borrowing and saving as a tool for social mobility.

As part of our role in fostering the country’s development and social well-being, we have opted to expand our channels of communication to include information about our impact on society. In this context, Social Footprint allows us to measure the results of our initiatives, facilitating their monitoring and contributing to their effectiveness and the fulfillment of our objectives.

Why we measure? Why we measure?

IT MATTERS TO US.

We support our clients in their projects through a value proposition tailored to the needs of each one of them.

As a public bank and in line with our social role, we have sought to advance with transparency in the pursuit of our objectives. To this end, we have developed a methodology through which to build a quantitative base that both reflects our work and increases its effectiveness.

We seek:

1.- To increase the effectiveness and efficiency of what we do.

2.- To have a system that integrates our initiatives and products with each client and with each of our pillars of development.

3.- To be ever more transparent.

4.- To be a vehicle for the progress of financial education in Chile.

How we measure? How we measure?

METHODOLOGY

We have adopted a framework of evaluation based on the experience of the world’s leading development banks.

Our method consists in designing products and programs based on the results we want to obtain.

We seek:

1.- To identify clients’ needs and where we can act and how we should do so.

2.- To design solutions and monitoring using SMART indicators so that our initiatives can be evaluated.

3.- To monitor results and progress so as to identify what we are doing well and what not.

4.- To evaluate impacts in order to extract conclusions and gain knowledge.
Pillars of development
ACCOUNTABILITY
Indicators
Online library
Documents

Nueva Tarjeta CuentaRUT

2 millones de clientes (julio 2019) con la Nueva Tarjeta CuentaRUT, que cuenta con un chip de seguridad y permite realizar compras tanto en Chile como en el extranjero.

RukaVecina

The first CajaVecina service network branch in the Araucania Region was set up in a ruka, a traditional mapuche house type at Trovolhue, a small town located in Carahue. The Ruka belongs to the Francisco Lázaro Marivil people, a consumers’ cooperative whose aim is to work for the wetlands conservation in their lands, and to promote tourism through the Mapuche culture.

Awards

The Global Banking Alliance for Women (GBA) presented BancoEstado with the Emergent Leader Award, for the range of initiatives developed to foster female financial empowerment.

Indicators

We strive to achieve BancoEstado’s S.M.A.R.T development pillar indicators: specific, measurable, achievable, relevant, and time-bound

Financial Education

The program "Usa bien tu plata (Spend your money wisely) comprises a series of workshops and lectures at state and subsidized schools in Chile. More than 33,000 students in 750 schools have participated in these initiatives since 2015.

Coverage

Over 47,000 inhabitants live in Castro, a city on the Isla Grande de Chiloé. Since 2011 until now, the CajaVecina network has increased from 0.23 to 1.54 service channels per thousand inhabitants.

1 FINANCIAL INCLUSION AS A MEANS TO WELL-BEING

Financial inclusion means that everyone has access to high-quality financial services and products. Figures presented recently ...

Financial inclusion brings with it access to many socioeconomic benefits because it helps to reduce the vulnerability of low-income households, providing them with instruments through which to reduce the variability of their consumption, manage risks better and improve their quality of life through transactional products.

2 GEOGRAPHICAL COVERAGE AS A TOOL FOR FINANCIAL INCLUSION

BancoEstado is present in all of Chile’s municipal districts through branch offices or CajaVecina points of service. The coverag...

Our bank is present in all of Chile’s municipal districts through either branch offices or CajaVecina points of service. This broad geographical coverage allows us to offer all the Bank’s services to a large percentage of the population, even in the most remote parts of the country.

3 SUPPORT FOR SMALLER COMPANIES

BancoEstado has an important market share among smaller-sized companies. These are the backbone of job creation in Chile and cruci...

As a bank, we have an important market share among smaller-sized companies, which are the backbone of job creation in Chile and crucial for the country’s development and improving its inhabitants’ quality of life. At present, more than 600,000 companies around Chile are clients of BancoEstado.

4 SAVING AS A DRIVER OF DEVELOPMENT AND SOCIAL MOBILITY

Saving plays an important role in improving people’s quality of life, allowing them to acquire durable goods and better withstan...

Promoting the habit of saving among our clients is one way of supporting their development. Although the Bank is the main promoter of saving in Chile, both in terms of savings accounts and other products for saving of a specific type, we have pending challenges in this field.

5 IMPACT OF ELECTRONIC AND MOBILE MEANS OF PAYMENT

In recent years, electronic means of payment have shown very important growth and, for BancoEstado, its multichannel strategy and ...

In recent years, electronic means of payment have shown very important growth and, for BancoEstado, its multichannel strategy and the use of online channels have become a priority. These channels permit safe transactions and mean an important cost reduction for clients.

6 FINANCIAL EDUCATION, RESPONSIBLE BORROWING AND CONSUMER RIGHTS

BancoEstado views financial education as a tool to serve the country’s citizens who, with clear and transparent information, are...

We view financial education as a tool to serve the country’s citizens who, with clear and transparent information, are able to take better decisions and improve their quality of life and that of their families. We seek to help our clients in the correct management of their finances and the financial products to which they have access.

FINANCIAL INCLUSION AS A MEANS TO WELL-BEING

Financial inclusion means that everyone has access to high-quality financial services and products. Figures presented recently by the Superintendency of Banks and Financial Institutions (SBIF) demonstrate BancoEstado’s importance in this field: 87% of the country’s adults are clients of the Bank.

Financial Inclusion

Financial inclusion brings with it access to many socioeconomic benefits because it helps to reduce the vulnerability of low-income households, providing them with instruments through which, for example, to reduce the variability of their consumption and manage risks better.

13.1 million clients
6.6 million female clients
10.3 million CuentaRUT accounts
88% of immigrants in Chile are clients

GEOGRAPHICAL COVERAGE AS A TOOL FOR FINANCIAL INCLUSION

BancoEstado is present in all of Chile’s municipal districts through branch offices or CajaVecina points of service. The coverage of these two channels has shown sustained year-by-year growth.

Geographical Coverage

The Bank’s broad geographical coverage allows it to reach 87% of the population through branch offices and offer all its services even in the most remote parts of the country.

100% of municipal districts with CajaVecina
127 municipal districts with only a BancoEstado branch
26 new branches opened in 2014-2017
1.2 CajaVecina points per 1,000 inhabitants

SUPPORT FOR SMALLER COMPANIES

BancoEstado has an important market share among smaller-sized companies. These are the backbone of job creation in Chile and crucial for the country’s development and improving its inhabitants’ quality of life.

Smaller companies

At present, more than 600,000 companies around Chile are clients of BancoEstado. Out of this total, over 267,000 obtain financing from the Bank for their businesses.

4.4% growth of lending in 2017
720,000 clients among micro and small businesses
23,000 companies connected online
336,000 women entrepreneurs in the CreceMujer program

SAVING AS A DRIVER OF DEVELOPMENT AND SOCIAL MOBILITY

Saving plays an important role in improving people’s quality of life, allowing them to acquire durable goods and better withstand adverse situations for themselves and their families.

Saving and development

Promoting the habit of saving among clients is one way in which BancoEstado can support their development. Although it is the main promoter of saving in Chile, both in terms of savings accounts and other products for saving of a specific type, the Bank has pending challenges in this field.

93% of the system’s savings accounts
1,500UF average mortgage
63.5% of male clients save
75.5% of female clients save

IMPACT OF ELECTRONIC AND MOBILE MEANS OF PAYMENT

In recent years, electronic means of payment have shown very important growth and, for BancoEstado, its multichannel strategy and the use of online channels are a priority.

Digital Channels

Digital channels permit safe transactions and mean an important cost reduction for clients who can also receive government benefits through them. In line with this, BancoEstado is making important efforts to boost its digital channels.

75% of clients’ transactions are electronic
23% correspond to payments by card
3.5 million Internet clients
200 million transactions per month

FINANCIAL EDUCATION, RESPONSIBLE BORROWING AND CONSUMER RIGHTS

BancoEstado views financial education as a tool to serve the country’s citizens who, with clear and transparent information, are able to take better decisions. Better informed people can improve their quality of life and that of their families.

Financial Education

Household debt in Chile is high, with all the risks this implies, and the Bank is committed to helping clients manage their finances correctly.