|Bid||5.65 x 800|
|Ask||5.66 x 1300|
|Day's Range||5.62 - 5.71|
|52 Week Range||3.69 - 12.68|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||7.16|
|Forward Dividend & Yield||0.70 (12.91%)|
|Ex-Dividend Date||May 08, 2020|
|1y Target Est||7.03|
Brazil's Senate approved on Thursday evening a bill to limit interest rates charged on credit card debt and overdraft lines, a move aimed at helping consumers suffering the fallout from the COVID-19 pandemic, but that could weigh on banks' 2020 profit. Lawmakers proposed a cap of 30% per year on debt rolled over on credit cards and overdraft lines for all loans extended by banks from March until the end of state of emergency declared by Brazil's government. The current average interest rate for overdraft lines is 110% and for rolled-over credit card debt it stands at 300%.
Brazil's top four listed lenders are giving months-long extensions for consumers and companies to repay 235 billion reais ($43.98 billion) in outstanding loans, a move to give financially squeezed borrowers breathing room. The loans subject to forbearance programs, which range from 13% of Banco Santander Brasil SA's portfolio to 10% of Itau Unibanco Holding SA's, are an indicator of potential defaults. Banco do Brasil SA has offered extensions on 11.6% of its portfolio, while Banco Bradesco SA has done so on 12.75%.
Ladies and gentlemen, thank you for standing by, and welcome to Banco Santander Chile Second Quarter 2020 Earnings Conference Call. This is Emiliano Muratore, CFO, and I'm joined today by Robert Moreno, Managing Director of Investor Relations; and our Chief Economist, Claudio Soto.