BancoEstado attended the last meeting of the General Assembly of the World Savings Banks Institute (WSBI), held in Bali, Indonesia. During the meeting, members of the group highlighted the efforts implemented by BancoEstado to deepen the country's bankarization - done through innovative projects like CajaVecina and CuentaRUT.

Both initiatives were presented as successful examples at global level for its effectiveness, efficiency and social impact. BancoEstado representatives used a video to show the progress of CajaVecina and its impact in the incorporation of people along the country - especially people in remote areas and out of urban radio - to the benefits of the financial system.

Grocers operating with this service, and customers from different places in Chile, showed how CajaVecina works, as well as the significant benefits in time and economy they have through this cash system that operates in small and micro businesses.

The WSBI international meeting confirmed the value of these international initiatives in the context of a progressive trend towards electronic banking, as per its significant advantages in cost and accessibility. These features make both systems a powerful tool for financial inclusion for large segments of the population.

Currently BancoEstado has 5,400 CajaVecina points and expects to have 6,500 by the end of the year.

Meanwhile, CuentaRUT already reached the 3 million customers goal. By the end of 2011, BancoEstado expects to have 4 million customers.

WSBI

BancoEstado plays an active role in this Organization and attended the international conference that brought together representatives of the entire financial world to discuss and analyze the various experiences in electronic banking, and how these advances enable the bankarization of low-income sectors and people living far from formal finance system.

The WSBI (World Savings Banks Institute) represents savings and retail banks from 92 countries worldwide (Asia / Pacific, Latin America, Africa and Europe through the European Savings Banks Group, ESBG-). In early 2008, the assets of all member financial institutions reached over 10 billion Euros. Together, the WSBI members offer their services through 380.000 offices.

The WSBI works with international financial institutions and multilateral institutions. Thus, they represent the interests of savings and retail banks worldwide and at the same time they promote access to financial services, for example through training, consulting services, etc.. in both developing and developed countries.

Over many decades, the WSBI member banks have done a responsible investment in their communities and today, they are key benchmarks for socially responsible business activities worldwide.