SANTIAGO, Sept 13 (Reuters) - Banco de Chile, Chile’s second-largest bank, said on Thursday it would propose a capital increase of about $529 million to shareholders at a meeting on Oct. 17.
The bank, which is controlled by the local Luksic family and Citigroup Inc, will likely use the money raised to fund growth opportunities, a company source told Reuters.
Banco de Chile could issue up to $1.2 billion in bonds sold locally or abroad this year, the bank said earlier this year.
In April, it placed an inflation-indexed, peso-denominated bond worth the equivalent of $187 million on the local market.
Shares in Banco de Chile closed 1.2 percent lower on Thursday, ahead of the bank’s announcement.