# BCI Banca Privada: Chile's bank with its own bank in Florida > BCI Banca Privada: no published minimum; Chile's #1 by consolidated assets; owns City National Bank of Florida; US deposits FDIC-insured up to $250,000. Author: Adam Ihsan — Venture Partner (https://wiki.private.law/en/authors/adam) Last modified: 2026-10-20T13:25:00.000Z Canonical: https://wiki.private.law/en/bci-private Publisher: wiki.private.law (https://wiki.private.law) Version: ec4ff13ff4feacc74c84813903a396eb5a3af392fb3dbf7a00a267c5b7dcd7c4 Cite as: BCI Banca Privada: Chile's bank with its own bank in Florida. wiki.private.law. https://wiki.private.law/en/bci-private. Version ec4ff13ff4feacc74c84813903a396eb5a3af392fb3dbf7a00a267c5b7dcd7c4. Topics: banking Jurisdictions: usa, global Functional tags: private-banking Product tags: bank, wealth-planning, investment, lombard-credit Semantic tags: private-banking, bank, wealth-planning, investment, lombard-credit --- ## Concept Bci Banca Privada is the private banking unit of Banco de Crédito e Inversiones (Bci), Chile's largest bank by consolidated assets. It sits within the group's wholesale and affluent structure, with dedicated offices in Las Condes, Santiago. The current head is Jorge Cristoffanini Olmedo (reported — LinkedIn only, not officially confirmed); the unit reports to Gerardo Spoerer Hurtado, head of the Wholesale & Investment Banking division. Group CEO (Gerente General) is Eugenio von Chrismar Carvajal (since 17 March 2015; in November 2025 he said succession work is ongoing, with no successor named). Chairman: Ignacio Yarur Arrasate (since 1 January 2025, succeeding his father Luis Enrique Yarur Rey). Ownership: Empresas Juan Yarur SpA holds 55.36%; the Yarur family shareholders' pact lifts the controlling group to 63.60% (2024 disclosure); free float ~ 26%. ## History and evolution - **1937** — founded by Juan Yarur Lolas and a group of largely immigrant entrepreneurs to serve SMEs (authorized 7 June, opened 10 June 1937). - **1959** — merged with Banco de Curicó. - **1971–1972** — intervened under the Allende nationalisation. - **1991** — on 17 October became the first bank to fully repay Central Bank subordinated debt from the 1980s crisis. - **1999** — Miami branch opened: the first Latin American bank licensed in Florida. - **2004** — Banco Conosur acquired. - **2013–2015** — City National Bank of Florida bought from Bankia: agreed 24 May 2013 (US$ 882.8m), closed 16 October 2015 at US$ 946.9m — the first Chilean bank to buy a US bank. - **2016** — Bci Securities Inc., a Miami broker-dealer, launched. - **2017** — CNB acquired TotalBank (~ US$ 528m). - **2022** — Banco BCI Perú started operations (15 July 2022). - **2025** — ten years of CNB; a holding reorganisation was announced: two independent banks (Bci in Chile and CNB in Florida) under one holding. > 🍓 Deposit protection. Chile: the state guarantee covers natural persons' term deposits and savings up to UF 200 per bank per calendar year (≈ US$ 8–9k) and UF 400 across the system, triggered on forced liquidation; sight deposits are covered 100% in liquidation. No premium-funded deposit-insurance scheme exists. US (CNB): standard FDIC insurance of US$ 250,000 per depositor per ownership category. ## Regulation The parent bank is supervised by the CMF (Comisión para el Mercado Financiero) and the Central Bank of Chile and is listed on the Bolsa de Santiago. City National Bank of Florida's primary regulator is the OCC; deposits are FDIC-insured; it is held via Bci Financial Group, Inc. Bci Securities Inc. is a FINRA member; Banco BCI Perú is supervised by the SBS. Compliance record: CMF fines — Bci Corredor de Bolsa UF 300 (Mar 2022) and UF 700 (Aug 2023, upheld on appeal); CEO von Chrismar was personally fined UF 100 (Dec 2022, a share purchase breaching the securities-market law — a personal measure, not the bank's); BCI bank — UF 300 (Sep 2023) and UF 250 (Nov 2024) for late delivery of information to prosecutors; UF 51.12 (Feb 2025, child-support-debtor registry). In the US, no public OCC enforcement against CNB under BCI ownership; CNB holds an "Outstanding" CRA rating for 20+ consecutive years, according to official information. ## Source of wealth The typical [source of funds](https://wiki.private.law/source-of-funds): Chilean business families and SME owners (the bank's founding mission), professionals, and Latin American HNW families using Miami and Florida as their offshore hub. > 💡 Entry thresholds. There is no official published minimum for Banca Privada membership. Official proxies: Plan Bci Preferencial (the affluent tier below) requires liquid monthly income above CLP 4,000,000; Bci mutual-fund "Serie Banca Privada" share classes carry minimums of CLP 100–250 million (~ US$ 105k–265k). ## Who it serves Chilean business owners and family capital; Latin American HNW clients needing access to the US banking system; clients combining Chilean and US assets. The group serves ~ 6 million clients. ## Services Discretionary advisory ("Servicio Advisory Discrecional") and non-discretionary advisory by asset class; a credit suite including commercial loans, project finance, leasing, mortgages, international financing and margin lending (lombard credit); exclusive cards and benefits. The 2025 relaunch of Banca Preferencial added "planificación patrimonial" (estate and wealth planning) and coordination with the US platform for affluent segments. No standalone family-office offer is publicly verified. ## Entities | Jurisdiction | Legal entity | Form and supervision | Role | | --- | --- | --- | --- | | Chile | Banco de Crédito e Inversiones | Bank; CMF and Central Bank of Chile; listed on the Bolsa de Santiago | Parent bank; private banking in Chile | | Chile | Bci Asset Management AGF | Fund manager; CMF; #3 of 22 Chilean managers, 12.40% share (Dec 2025) | Mutual funds, incl. Banca Privada series | | Chile | Bci Corredor de Bolsa | Broker; CMF | Brokerage services | | USA | City National Bank of Florida | Bank; primary regulator OCC; FDIC-insured; via Bci Financial Group, Inc. | The group's own Florida bank; hub for Latin American clients | | USA | Bci Miami | Bank branch (since 1999) | Corporate and private banking for Latin American families; over US$ 8bn in client assets | | USA | Bci Securities Inc. | Broker-dealer; FINRA | US brokerage | | Peru | Banco BCI Perú | Bank; SBS | Operations in Peru (since 2022) | Representative offices: Mexico City, São Paulo, Bogotá and Shanghai. ## Strengths - Its own US bank: CNB's assets have grown ~ 5x since the acquisition (to over US$ 28bn); the US business accounts for ≈ 40% of group assets; on 6 April 2026 CNB launched country-specific LatAm desks (Brazil, Mexico, Chile, Argentina, Dominican Republic). - Scale: group total assets CLP 81.57tn (≈ US$ 90.7bn) at 31 December 2025; record net income CLP 996bn (+ 24.3%); market cap surpassed US$ 10bn in 2025; ratings Moody's A2, S&P A−, Fitch A−. - Position in Chile: #1 by consolidated total assets including foreign operations (~ 21% system share); #4 by domestic loans; #3 by 2025 profit. - US-dollar deposits at CNB carry FDIC insurance; CNB has held an "Outstanding" CRA rating for over 20 consecutive years. ## Where it falls short - No official published entry threshold — transparency on client requirements is limited. - Banca Privada AUM and client counts have not been publicly disclosed since 2015 (over US$ 3bn then) — a public-data gap. - No standalone family-office offer is verified. - Clients focused solely on Chile's domestic market should note the bank ranks only #4 by domestic loans. Bci Banca Privada is private banking inside Chile's largest bank by consolidated assets, controlled by the Yarur family (63.60%), with its own US platform: a Florida bank, a Miami branch and a broker-dealer. For Latin American families it is a rare combination — a Chilean bank with its own bank in the United States. ## Q/A ### Is there an official entry minimum for Bci Banca Privada? No — the bank does not publish an official threshold. Official product proxies: Plan Bci Preferencial requires monthly income above CLP 4,000,000, and Serie Banca Privada fund share classes start at CLP 100–250 million. ### Are deposits insured? In Chile a state guarantee covers term deposits of natural persons up to UF 200 per bank per year and sight deposits at 100% in liquidation; there is no premium-funded insurance scheme. In the US, deposits at City National Bank of Florida are FDIC-insured up to US$ 250,000 per depositor per ownership category. ### Who controls the bank? The Yarur family: Empresas Juan Yarur SpA owns 55.36%, and the family shareholders' pact lifts the controlling group to 63.60% (2024 disclosure). The chairman is Ignacio Yarur Arrasate; the CEO is Eugenio von Chrismar Carvajal. ### How does Bci differ from other Chilean banks? Its own US bank: City National Bank of Florida, acquired in 2015 — the first purchase of a US bank by a Chilean bank. The platform is rounded out by the Miami branch (since 1999) and broker Bci Securities. ### How big is the Bci group? Total assets of CLP 81.57tn (≈ US$ 90.7bn) at 31 December 2025, #1 in Chile by consolidated assets; ~ 6 million clients; rated Moody's A2 / S&P A− / Fitch A−. --- ## Similar articles - [British Atlantic Bank (NodaBank): Accounts, Deposits and Lending](https://wiki.private.law/en/nodabank) - [Bancolombia Banca Privada: Colombia's largest bank and its offshore arc](https://wiki.private.law/en/bancolombia-private) - [Santander Private Banking: the Spanish leader with a transatlantic axis](https://wiki.private.law/en/santander-private-banking) - [Bradesco Global Private Bank: Brazil's number two private bank](https://wiki.private.law/en/bradesco-private) - [Itaú Private Bank: Latin America's first R$1 trillion franchise](https://wiki.private.law/en/itau-private-bank) - [Creand: Andorra's oldest bank with a Luxembourg depositary](https://wiki.private.law/en/creand-credit-andorra) --- Source: wiki.private.law — the private.law legal knowledge base. When quoting, cite the canonical page URL. 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