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]

Core Insights - PagBank reported strong financial results for the third quarter of 2025, showcasing resilience in a high-interest-rate environment and economic slowdown [2][4] - The bank's recurring net income reached BRL 571 million, with net revenue growing by 14.4% year-over-year to BRL 3.4 billion [4] - Deposits increased to BRL 39.4 billion, reflecting a 15.3% year-over-year growth, while the loan portfolio expanded to BRL 4.2 billion, marking a 29.9% year-over-year increase [5] Financial Performance - Recurring net income for 3Q25 was BRL 571 million [4] - Net revenue grew 14.4% year-over-year, totaling BRL 3.4 billion [4] - Deposits reached BRL 39.4 billion, up 15.3% year-over-year and 6.1% quarter-over-quarter [5] - The loan portfolio amounted to BRL 4.2 billion, with a year-over-year growth of 29.9% and a quarter-over-quarter increase of 7.2% [5] Strategic Initiatives - The bank distributed over BRL 2 billion to shareholders through dividends and share repurchases in the last 12 months [3] - PagBank is focusing on higher-margin products and sustainable value creation while expanding its revenue and optimizing its capital structure [2] - The bank aims to deepen relationships with entrepreneurs and consumers, enhancing access to financial solutions for millions of Brazilians [6] Leadership Changes - Carlos Mauad will become the new CEO of PagBank starting January 1, 2026, as part of a planned succession process [7] - Gustavo Sechin will take over as the new CFO [7] - The transition is expected to ensure continuity and support for the bank's growth strategy [8][9]

Core Insights - Pagbank reported a net revenue of R$5.1 billion for 2Q25, marking an 18% growth excluding foreign exchange effects, driven by a 61% increase in the banking segment [1][2] - The company achieved a recurring net income of R$565 million (+4% y/y) and a reported net income of R$537 million (+7% y/y), with a return on equity (ROE) of 14.5% [1][3] - Total funding reached R$43 billion (+9% y/y), with deposits at R$37.2 billion (+9% y/y and +10% q/q) and an expanded loan portfolio of R$48 billion (+11% y/y) [3][4] Financial Performance - Gross profit totaled R$1.9 billion, reflecting a 7% year-over-year increase, within the guidance range [1] - Over the past 12 months, Pagbank allocated R$1.9 billion to dividends and share repurchases, with new dividend payments expected in the second half of the year [5] Strategic Outlook - The company maintains an optimistic outlook for the second half of the year, focusing on disciplined business execution and exploring new opportunities [4][6] - Pagbank serves 33 million clients and sees significant growth potential in transactional banking, particularly through Pix, deposits, and credit [6][9] Innovation and Technology - Pagbank is focused on building a comprehensive digital banking platform that simplifies financial management for clients through artificial intelligence and Open Finance [6][10]

Core Insights - PagBank announced its first dividend payment of approximately R$250 million (USD 0.14 per common share) and plans to distribute dividends annually, corresponding to about 10% of its net income, subject to market conditions and board approval [1][9] Financial Performance - In 1Q25, PagBank reported net revenue of R$4.9 billion, a 13% year-over-year increase, and gross margin of R$1.9 billion, reflecting a 7% rise [2] - Recurring net income for the quarter was R$554 million, a 6% year-over-year increase, with earnings per share (EPS) reaching R$1.72, a 14% increase year-over-year [2][6] - The credit portfolio expanded to R$3.7 billion, marking a 34% increase compared to the same quarter last year and a 6% increase quarter-over-quarter [3] Customer Engagement and Market Position - PagBank has a customer base of over 32 million, with 17.7 million actively engaged in its ecosystem, emphasizing its strategy of providing a comprehensive financial services platform [4] - Total deposits reached R$33.9 billion, a 10.9% year-over-year rise, indicating effective fundraising in a high-interest-rate environment [7] Operational Efficiency - The company maintained a stable delinquency rate over 90 days at 2.3%, significantly lower than the market average of 4.4% [3] - The total payment volume processed reached R$129 billion, growing 16% year-over-year, with cash in reaching R$83 billion, up 26% year-over-year [7] Shareholder Value Initiatives - PagBank executed a second share buyback program totaling over R$353 million, reflecting management's confidence in its growth strategy [8] - The gross margin increased from 38% to 39% quarter-over-quarter, and return on equity (ROE) reached 15% on an annualized basis, a 140 basis points increase year-over-year [6]