[1] It provides financial services to consumers and companies, with a focus on national coverage in terms of geography and social sectors and a particular emphasis on the unbanked and small and medium enterprises,[2] although it serves all types of businesses.

[3] In addition, BancoEstado performs part of the Chilean government's financial activities through the accounts managed by the General Treasury of the Republic of Chile.

[5] BancoEstado is regulated mainly by the provisions of the Organic Law of the Bank of the State of Chile (Ley Orgánica del Banco del Estado de Chile), which defines the bank as an autonomous state-owned company with separate legal personality and its own assets, supervised exclusively by the Bank and Financial Institution Board (Superintendencia de Bancos e Instituciones Financieras).

As a banking institution, BancoEstado is subject to the laws applicable to banks generally as well as those regulating the private sector as a whole, and thus is not governed by general laws and regulations aimed at the public sector.

Among these are the following:[6] The bank also has a program known as "BancoEstado Cine" which since 2004 has supported Chilean film production.