Financial Data and Key Metrics Changes - The bank generated net income of CLP 1,053 billion, up 23% year-over-year, resulting in a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16] - Net interest income increased by 11% year-over-year, while net interest margins (NIMS) remained stable at 4% [16] - The capital CET1 ratio stands at 11%, with a 60% dividend payout provision for the upcoming year [16][20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, and financial transactions rose by 8%, with mutual funds increasing by 7% [16] - The recurrence ratio reached 63.7%, indicating that more than 60% of expenses are covered by fee generation [19] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] Market Data and Key Metrics Changes - Chile's economy is estimated to have expanded by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8] - The unemployment rate closed the year at 8%, with an average of 8.5% over the year [9] - Inflation closed the year at 3.5%, with expectations for 2026 to remain marginally below the 3% target [10] Company Strategy and Development Direction - The company aims to attract and activate over 5 million clients by 2026, focusing on digital banking and operational efficiency [12] - The strategy includes broadening transactional and non-credit fee-generating services, targeting double-digit fee growth [12][14] - The company is positioned to deliver attractive value creation with ROEs above 20% and a dividend payout ratio of 60%-70% [14] Management's Comments on Operating Environment and Future Outlook - The management expects a gradual improvement in the economic environment, with a focus on large-scale investment projects and regulatory simplification [5][10] - The new administration is anticipated to provide additional stimulus to economic activity, particularly in the second half of 2026 [5][10] - The company is optimistic about maintaining a strong profitability outlook, with an expected ROE range of 22%-24% for 2026 [22] Other Important Information - The company received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [27] - Loan growth is expected to be mid-single digits, with steady growth in auto lending and gradual improvements in commercial and mortgage lending [30] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [40] - Efficiency improvements are being made through technological advancements and reducing routine tasks [40] Question: Getnet sale implications - The sale of Getnet is expected to strengthen its market position and provide ongoing revenue through a service agreement [32] - The transaction was approved with significant support from shareholders, ensuring business continuity and strategic alignment [34] Question: Sensitivity to inflation and risk-weighted assets - The company expects a 2% growth in risk-weighted assets, maintaining density levels consistent with loan growth projections [63] - Sensitivity to inflation is around CLP 8.5 billion, translating to approximately 15 basis points per 100 basis points of inflation [63] Question: Future synergies and partnerships - Management highlighted existing synergies with Santander Group and potential for further partnerships, particularly in asset management and consumer finance [50]

Financial Data and Key Metrics Changes - The bank generated net income of CLP 1,053 billion, up 23% year-over-year, resulting in a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16] - Net interest income increased by 11% year-over-year, while net interest margins (NIMs) remained stable at 4% [16] - The capital CET1 ratio stands at 11%, with a 60% dividend payout provision for the upcoming year [16][20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, with mutual funds increasing by 7% and a recurrence ratio reaching 63.7% year-to-date [16][18] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] - Credit card transactions rose by 15%, indicating strong client activity and engagement [18] Market Data and Key Metrics Changes - Chile's economy is estimated to have expanded by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8][10] - The unemployment rate closed the year at 8%, with expectations for gradual improvement in labor market conditions [9][10] - Inflation closed the year at 3.5%, with expectations for it to remain marginally below the 3% target in 2026 [9][10] Company Strategy and Development Direction - The company aims to attract over 5 million clients by 2026 while enhancing engagement through a digital banking model [12][14] - The strategy includes broadening transactional and non-credit fee-generating services, targeting double-digit fee growth [12][14] - The focus remains on operational excellence and maintaining an efficiency ratio in the mid-30s [12][14] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism about the economic recovery, expecting a more favorable business environment in 2026 [10][21] - The new administration is anticipated to implement policies that could stimulate economic activity, including potential tax reductions [6][10] - Confidence among businesses has improved, which is expected to positively influence investment and credit demand [7][10] Other Important Information - The bank received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [27][29] - Loan growth is expected to be mid-single digits, with steady growth in consumer lending and a reactivation in commercial lending anticipated [30][31] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [40][41] Question: Getnet stake sale implications - The sale of Getnet is expected to strengthen its market position and enhance growth prospects, with minimal impact on the bank's P&L [32][33] Question: Sensitivity to inflation and risk-weighted assets - The bank expects a 2% growth in risk-weighted assets, with a sensitivity to inflation of around CLP 8.5 billion [63][66]

Financial Data and Key Metrics Changes - Banco Santander-Chile reported a net income of CLP 1,053 billion for Q4 2025, representing a 23% year-over-year increase, with a return on average equity (ROE) of 23.5% and an efficiency ratio of 36% [16][19] - Net interest income, including readjustment income, increased by 11% year-over-year, while net interest margins (NIMs) remained stable at 4% [16][17] - The capital CET1 ratio stood at 11%, well above the minimum requirement of 9.08% [20] Business Line Data and Key Metrics Changes - Fee income grew by 9%, and financial transactions rose by 8%, with mutual funds increasing by 7% [16][18] - The recurrence ratio reached 63.7%, indicating that over 60% of expenses are covered by fee generation [19] - Current accounts increased by 9% year-on-year, supporting a 5% growth in active clients and a 7% growth in total clients [18] Market Data and Key Metrics Changes - Chile's economy is projected to grow by 2.3% in 2025, driven by a recovery in domestic demand, particularly in investment [8][10] - Inflation closed the year at 3.5%, with expectations for it to remain marginally below the 3% target in 2026 [9][10] - The unemployment rate closed the year at 8%, with expectations for gradual improvement in labor market conditions [9][10] Company Strategy and Development Direction - The company aims to attract over 5 million clients by 2026 while enhancing engagement through a digital banking model [12] - A focus on operational excellence and efficiency is emphasized, with a target efficiency ratio in the mid-30s [12][13] - The strategy includes broadening transactional and non-credit fee-generating services to support double-digit fee growth [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic environment, expecting gradual improvements in investment and credit demand [10][11] - The new administration's focus on large-scale investment projects and potential corporate tax reductions could stimulate economic activity [5][6] - The company anticipates a more favorable business environment in 2026, supporting mid-single-digit loan growth [22][23] Other Important Information - The company received several recognitions, including being named the best bank in Chile by Euromoney and Latin Finance [16] - The MSCI ESG rating improved from A to AA, reflecting a strengthened sustainability profile [17] Q&A Session Summary Question: Economic and political outlook regarding tax rate reduction and loan growth expectations - Management indicated that tax reduction discussions may take time, with effects expected more in 2027 than in the short term [28][29] - Loan growth is expected to be mid-single digits, with steady growth in auto lending and gradual improvements in the mortgage segment [30][32] Question: Guidance on cost of risk and expense growth - Cost of risk is expected to improve slightly to around 1.3%, with a focus on controlling expense growth to inflation plus 1% [41][42] Question: Getnet stake sale implications - The sale of Getnet is expected to strengthen its market position and provide a stable revenue stream for Banco Santander-Chile, with minimal impact on P&L [34][46] Question: Sensitivity to inflation and risk-weighted assets - The company expects a 2% growth in risk-weighted assets, with a sensitivity to inflation of around CLP 8.5 billion [66][70]

Banco Santander Chile 4Q25 results February 5, 2025 Important information Banco Santander Chile caution that this presentation contains forward looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 . These forward looking statements are found in various places throughout this presentation and include, without limitation, statements concerning our future business development and economic performance . While these forward looking statements represent our judgment and ...

Core Insights - Banco Santander Chile reported a strong financial performance for the twelve-month period ending December 31, 2025, with a net income attributable to shareholders of Ch$ 1.053 billion, reflecting a 22.8% year-over-year increase and a return on average equity (ROAE) of 23.5% [2][3] Financial Performance - The bank's operating income increased by 10.2% year-over-year, driven by improved net interest margins, higher fees, and better financial transaction results [2] - Compared to the previous quarter, net income attributable to shareholders rose by 3.2% quarter-over-quarter, supported by improved margins and effective cost control [3] - The net interest margin (NIM) improved to 4.0% in 12M25, up from 3.6% in 12M24, due to a reduction in funding costs from 4.7% to 3.8% [4] Customer Growth - The total customer base expanded by 6.9% year-over-year, reaching approximately 4.6 million customers, with nearly 2.3 million being digital customers [6] - The bank maintained a strong market share in current accounts at 21.8% as of November 2025, driven by increased demand for US dollar accounts [7] Fee and Efficiency Metrics - Net commissions increased by 8.9% in 12M25, resulting in a recurrence ratio of 63.7%, indicating that over half of the bank's expenses are financed by customer-generated fees [8] - The efficiency ratio improved to 36.0% in 12M25, down from 39.0% in the previous year, despite a 1.8% increase in total operating expenses [9] Capital and Ratings - The Common Equity Tier 1 (CET1) ratio stood at 11.0%, with a capital generation of 50 basis points for the year, while the BIS ratio reached 16.9% [10] - Banco Santander Chile holds high credit ratings from various agencies, including A2 from Moody's and A- from Standard & Poor's, all with a stable outlook [11] Asset and Loan Metrics - As of December 31, 2025, the bank's total assets amounted to US$ 75.6 billion, with total gross loans at US$ 45.4 billion and total deposits at US$ 33.9 billion [12]

Core Viewpoint - Banco Santander-Chile (NYSE:BSAC) is a significant player in the Chilean banking sector, with a generally positive outlook despite individual analyst caution regarding macroeconomic challenges and regulatory changes [1][4]. Group 1: Stock Analysis - The consensus price target for BSAC has been raised to $29 from $26.5, indicating a positive shift in analyst expectations over the past year [2]. - Goldman Sachs analyst Tito Labarta has set a more conservative target of $21, reflecting concerns over BSAC's earnings and broader economic challenges [2]. Group 2: Economic and Regulatory Influences - The bank's performance is closely linked to Chile's economic conditions and regulatory environment, facing challenges such as weakening exports and regulatory changes that may impact future earnings [3]. - The stable consensus price target and recent upward adjustments suggest a generally positive outlook, but individual analyst caution highlights the need for a nuanced understanding of the potential for growth and volatility [4].

Group 1 - Banco Santander Chile will hold a conference call-webcast on February 5, 2026, at 9:00 AM NY time to discuss its 4Q 2025 financial results [1] - The Management Commentary report will be published on January 30, 2026, before the market opens, with a quiet period starting on January 16 [2] - The conference call will feature key officers including Patricia Pérez (CFO), Cristian Vicuña (Chief Strategy Officer & Head of IR), and Lorena Palomeque (Economist) [1][2] Group 2 - As of September 30, 2025, Banco Santander Chile had total assets of $68,240,207 million (US$73,258 million) and total gross loans of $40,988,278 million (US$44,002 million) [4] - The bank's total deposits were $29,356,420 million (US$31,515 million), and shareholders' equity stood at $4,592,379 million (US$4,930 million) [4] - The BIS capital ratio was reported at 16.7%, with a core capital ratio of 10.8% as of September 30, 2025 [4] - Banco Santander Chile has a workforce of 8,583 employees and operates 231 branches throughout Chile [4] Group 3 - Banco Santander Chile holds high credit ratings, including A2 from Moody's, A- from Standard & Poor's, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA, all with a stable outlook [3]

Core Viewpoint - Investors in the Banks - Foreign sector should consider Banco Santander-Chile (BSAC) and Banco De Chile (BCH) for potential investment opportunities, with a focus on which stock offers better value at present [1] Group 1: Zacks Rank and Earnings Outlook - Both BSAC and BCH currently hold a Zacks Rank of 2 (Buy), indicating a positive earnings outlook supported by favorable analyst estimate revisions [3] - The Zacks Rank strategy targets companies with improving earnings estimates, which is a positive sign for investors [2] Group 2: Value Metrics - Value investors utilize various traditional metrics to identify undervalued companies, including P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] - BSAC has a forward P/E ratio of 12.47, while BCH has a forward P/E of 14.17, suggesting BSAC may be more attractively priced [5] - BSAC's PEG ratio is 0.74, indicating better value relative to its expected earnings growth compared to BCH's PEG ratio of 2.66 [5] Group 3: Price-to-Book Ratio - BSAC has a P/B ratio of 3.25, while BCH's P/B ratio is 3.54, further supporting the argument that BSAC is the more favorable investment option based on valuation metrics [6] Group 4: Overall Value Assessment - Based on the analyzed metrics, BSAC holds a Value grade of B, whereas BCH has a Value grade of D, indicating that BSAC is currently the superior value option [7]

Core Viewpoint - The article compares Banco Santander-Chile (BSAC) and Banco De Chile (BCH) to determine which stock is more attractive for value investors [1] Group 1: Stock Ratings and Earnings Outlook - Both BSAC and BCH currently hold a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3] - The Zacks Rank system emphasizes stocks with strong earnings estimate revision trends, which is beneficial for investors [2] Group 2: Valuation Metrics - BSAC has a forward P/E ratio of 12.33, while BCH has a forward P/E of 13.97, suggesting BSAC is more attractively priced [5] - BSAC's PEG ratio is 0.73, indicating a better valuation relative to its expected earnings growth compared to BCH's PEG ratio of 2.62 [5] - BSAC has a P/B ratio of 3.21, compared to BCH's P/B of 3.49, further supporting BSAC's superior valuation metrics [6] - Based on these valuation figures, BSAC is rated as a superior value option with a Value grade of B, while BCH has a Value grade of D [6]

Core Insights - Banco Santander Chile is proposing a strategic alliance with PagoNxt, enhancing Getnet Chile's technological capabilities and international reach [1][3] - The transaction involves incorporating Getnet Payments, SL. into Getnet Chile, with Banco Santander Chile maintaining a controlling 50.01% stake [2] - This partnership aims to strengthen Getnet's market leadership and competitiveness in the payments sector [5][4] Financial Overview - As of September 30, 2025, Banco Santander Chile reported total assets of $73.258 billion, total gross loans of $44.002 billion, total deposits of $31.515 billion, and shareholders' equity of $4.930 billion [7] - The BIS capital ratio stood at 16.7%, with a core capital ratio of 10.8% [7] Market Position - Getnet Chile has achieved an 18.9% market share in physical card transactions within four years and operates over 316,000 POS nationwide [1] - PagoNxt processed payments worth €222 billion in 2024, handling 9.8 million transactions for 1.2 million merchants, indicating its significant scale in the payments market [4]