Bank of Credit and Investments

Bank of Credit and Investments, commonly known as BCI or Banco de Crédito e Inversiones, is a Chilean banking brand founded in 1937 by Juan Yarur Lolas. It was established with a focus on supporting small and medium-sized enterprises in Chile and has developed into one of the country’s principal privately owned banking groups. The institution remains associated with the Yarur family, which has maintained ownership and family leadership across multiple generations. BCI’s business covers a broad range of financial services. Its activities include deposits and savings products, lending, commercial banking, securities brokerage, asset management and insurance-related services. This scope allows the bank to serve retail customers, entrepreneurs, small and medium-sized companies, larger businesses and investors. The brand’s historical association with enterprise finance remains consistent with its broader contemporary position as a full-service financial institution. The bank’s leadership has included successive members of the Yarur family. Juan Yarur Lolas founded the institution, and his son Jorge Yarur Banna later served as its second president until his death in 1991. Luis Enrique Yarur Rey, a third-generation family member, is identified as the bank’s current president in the available reference material. The family connection is a defining feature of BCI’s ownership and governance identity. BCI has also developed an international presence. In Chile, it is described as one of the largest private banks by lending and among the leading banks by customer numbers, although it operates alongside much larger private competitors and the state-owned BancoEstado. Internationally, the bank has participated in cross-border financial relationships, including a Latin American partnership with Bear Stearns. In 2013, BCI expanded its United States presence by acquiring City National Bank of Florida, a Florida-based bank with branches in South Florida and Orlando, from the Spanish lender Bankia. The brand is also associated with the International Confederation of Popular Banks, an international organization based in Brussels that brings together cooperative and community-oriented banks. BCI’s combination of Chilean family ownership, universal banking services, business financing and selected international operations defines its market identity. The available source material does not provide enough information to characterize current marketing campaigns, detailed financial performance, public listing status or a complete current executive roster.

BCI was established in Chile in 1937 by Juan Yarur Lolas. Its original purpose was to support small and medium-sized enterprises, giving the institution an early commercial and entrepreneurial orientation rather than limiting it to traditional retail banking. The bank subsequently grew into a broader financial institution offering deposit-taking, lending and investment-related services. The Yarur family has remained central to BCI’s identity. Juan Yarur Lolas founded the bank, while his son Jorge Yarur Banna became its second president and held that position until his death in 1991. Luis Enrique Yarur Rey, identified in the available reference as the current president, represents a third generation of family involvement. This continuity of family ownership and leadership distinguishes BCI from many banking groups whose control is primarily dispersed among public shareholders or held by a larger financial conglomerate. The bank experienced at least one serious security incident during its history. In 1970, one of its Santiago branches was bombed. The available source records the event without supplying enough information to explain its political or social context, the extent of the damage, or any institutional response. BCI’s service model expanded beyond conventional deposits and loans. Its activities came to include savings and deposits, securities brokerage, asset management and insurance, alongside banking services for individuals and businesses. The bank also became associated with the International Confederation of Popular Banks, a Brussels-based international organization linking cooperative and community-oriented banking institutions. The available information additionally identifies BCI as a Latin American partner of Bear Stearns, reflecting its participation in international financial relationships. Within Chile, BCI is described as the third-largest private bank by loans and the fourth-largest bank by customer numbers in the cited reference. Its competitive environment includes Banco Santander Chile, Banco de Chile and the state-owned BancoEstado. These rankings are time-sensitive and are not treated here as current measurements because the source does not specify a reference date. A major international expansion occurred in 2013, when BCI acquired City National Bank of Florida from Bankia. The transaction gave BCI a United States banking platform with branches in South Florida and Orlando. The acquisition broadened the group’s geographic reach while preserving its core Chilean identity. Beyond this transaction, the available material does not establish a complete chronology of later acquisitions, product launches, leadership changes, financial results or strategic initiatives. BCI remains an active Chilean banking brand with a diversified financial-services offering and a continuing association with the Yarur family.

1. 2013Acquisition of City National Bank of Florida

   BCI acquired the Florida-based City National Bank of Florida from Bankia, extending its operations in the United States.

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2. 1991Death of second president Jorge Yarur Banna

   Jorge Yarur Banna, BCI’s second president and a member of the founding family, died.

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3. 1970Santiago branch bombing

   A BCI branch in Santiago was bombed; the available source does not provide additional details about the incident.

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4. 1937BCI is founded in Chile

   Juan Yarur Lolas founded the bank to support small and medium-sized enterprises in Chile.

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A Chilean full-service bank with long-standing family ownership, a historical focus on entrepreneurs and small and medium-sized enterprises, and capabilities spanning retail, commercial and investment-related financial services.

• Savings and depositsRetail banking

  BCI provides savings and deposit services as part of its core banking activity. These products support personal and business customers seeking transaction accounts, savings capacity and conventional deposit relationships. The available source identifies savings and deposits as a central area of the bank but does not list individual account names or current terms.

• SME and commercial bankingBusiness banking1937

  The bank was founded specifically to support small and medium-sized enterprises and has retained a business-banking orientation. Its commercial offering includes financing and banking relationships for companies, although the available reference does not provide a detailed breakdown of loan products, eligibility rules or service channels.

• Securities brokerageInvestment services

  BCI operates in securities brokerage, extending its services beyond deposits and lending to investment transactions and capital-markets access. Specific instruments, markets and customer segments are not detailed in the supplied reference.

• Asset managementInvestment services

  Asset management is one of BCI’s identified financial businesses. It complements the bank’s deposit, lending and brokerage activities by providing investment-management capabilities, but the available material does not identify particular funds, mandates or assets under management.

• Insurance servicesInsurance-related financial services

  The BCI financial-services portfolio includes insurance-related activities. The source does not specify whether individual offerings are distributed, underwritten or provided through separate group entities, so the description is limited to the documented insurance scope.

• City National Bank of FloridaUnited States banking subsidiary

  City National Bank of Florida became part of BCI’s international banking footprint through the 2013 acquisition from Bankia. The institution operated branches in South Florida and Orlando, giving BCI a direct presence in the United States.

• 2013Acquire City National Bank of FloridaM&A

  BCI sought to expand its international banking presence beyond Chile. City National Bank of Florida was available for sale by the Spanish lender Bankia.

  What changed. BCI purchased City National Bank of Florida, which had branches in South Florida and Orlando.

  Aftermath. The transaction established or expanded BCI’s operating presence in the United States. The available material does not document subsequent financial or organizational outcomes.

  Acquisition price. $882 million (2013)

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• 2013BCI acquires City National Bank of Florida

  BCI purchased City National Bank of Florida, expanding its banking operations into the United States. The acquired institution operated branches in South Florida and Orlando and was sold by Bankia.

  M&A
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• 1970A BCI branch in Santiago was bombed

  A BCI branch in Santiago was bombed. The available reference identifies the event but does not provide further details about responsibility, damage or its consequences.

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1. Banco de Crédito e Inversiones
2. BCI corporate website