The government of Chile has given Banco Santander Central Hispano until the end of March to reduce its market share from 28% to 20%.
The bank operates two separate banks in Chile, Banco Santiago and Banco Santander Chile. A drastic solution would be the sale of one of these. A report suggests that Citibank is anxious to help BSCH with 'its problem' through such a purchase. BSCH Chile stated that they were already in negotiations which would reduce their market share by 2-3% though would not give more details.
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