changed to Corpbanca. In 1998, through the acquisition of Corfinsa (consumer loan division of Banco Sudamericano) and Financiera Condell, the bank formed Bancondell initiating its presence in the medium – lower income consumer business (massive banking). The defined strategy has helped Corpbanca achieve the financial sector's second strongest loan growth over the past seven years and, in addition, reversing the 1999 losses and achieve an adequate ROE since 2001. In November 2002, Itaú Corpbanca issued shares in the local market for a total of USD$250 million. The issuance was made in the Emerging Stock Market, being the first issuer to issue instruments in such market. Subsequently, in November 2004, Corpbanca took a major step towards internationalization when it completed the process of listing its American Depositary Receipts (ADRs) on the New York Stock Exchange. Operations The Bank provides a wide range of both commercial and retail banking services to its customers. In addition, Corpbanca provides financial advisory services, mutual fund management, insurance brokerage and securities brokerage services through its subsidiaries. The Bank was listed on the New York Stock Exchange for the first time on November 1, 2004. As of December 31, 2005, Corpbanca had a nationwide network of 68 branches in Chile, including 28 branches operating under the CorpBanca name, 20 branches operating under the Bancondell name and 20 integrated branches, which operate under both the Corpbanca and Bancondell names. As of December 31, 2005, the Bank owned and operated 108 automated teller machines (ATMs) in Chile. Itaú CorpBanca's customers have access to over 4,000 ATMs in Chile through its agreement with Redbanc S.A. (Redbanc). Notes External links Corpbanca website Itaú Unibanco Banks established in 1871 Companies listed on the Santiago Stock Exchange Companies listed on the New York Stock Exchange Banks of Chile 1871 establishments in Chile Companies based in Santiago