Banco de Chile (BCH) Short Idea
May 26, 2020 | 9:31 PM
BY: Fahad Khalid | fkhalid@jaguaranalytics.com
2.7% projected FY20 GDP decline in Andean Region equates to 25% decline in BCH earnings power. With rising covid-19 cases, falling interest margin, rising loan loss provisions and threat of leftist govt winning elections, we believe earnings deterioration could be far worse.