Banco De Chile was founded on October 28, 1893. The Bank is engaged in commercial banking in Chile, providing banking products and specialized financial services to its customer base of individuals and companies. The Bank, through its subsidiaries and affiliates, provides lending and non-lending products and services to all segments of the Chilean financial market. Its operations are organized in four business segments: retail banking, wholesale banking; treasury and money market operations and operations through subsidiaries. It provides retail customers with credit cards, residential mortgage loans and consumer loans, as well as traditional deposit services, such as current accounts, demand deposits, savings accounts and time deposits. The retail customers are composed of micro, small and medium sized companies and the Bank provides short and long term loans, as well as diverse deposit solution, in order to satisfy their needs. The banking services for wholesale customers include commercial loans, which include factoring and leasing, foreign trade, capital markets services, cash management and non-lending services, such as payroll and payment services, as well as treasury, financial advisory and risk management products. The Treasury segment is responsible for the management of the Bank's balance sheet, including currencies, maturities and interest rates and liquidity, as well as financial instrument and currency trading. The Bank competes with other Chilean private sector domestic and foreign banks, with Banco del Estado de Chile, which is government-owned, and with other banks and department stores that grants consumer loans to the Chilean population.