Best bank
Banco Santander Chile
Best local partner
Banco de Chile
Best debt house
JPMorgan
Best M&A house
JPMorgan
The year 2002 was one of leapfrogging bank mergers in Chile. First the Luksic family merged its two banks in the country, Banco Edwards and Banco de Chile, to create a merged Banco de Chile, Euromoney's best local partner in the country. It was the largest bank in the Chile at the time of the merger, and its assets are more than $10 billion. It's a major player, and is likely to see its income - $76 million in 2002 - rise as the merger's costs dissipate and benefits start to take hold.
Later in the year, however, Santander Central Hispano merged its two banks in Chile - Banco Santiago and Santander Chile - to create definitively the largest and best bank in the country, Banco Santander Chile.
Not only is it huge by Chilean standards - its assets of almost $15 billion account for a quarter of the total in the banking system - but it's also extremely well run.
Its profits of $276 million in 2002 were more than those of Banco de Crédito, Banco de Chile, Citibank and BBVA combined.