Welcome to our dedicated page for Banco Santander-Chile news (Ticker: BSAC), a resource for investors and traders seeking the latest updates and insights on Banco Santander-Chile stock.
Banco Santander-Chile (BSAC), founded in 1978, is a prominent financial institution and part of the globally recognized Santander Group. Majority controlled by Santander Spain, Banco Santander-Chile stands as the largest bank in Chile by loans and the second largest by deposits. The bank generates a significant portion of its net interest income—approximately 65%—from its mortgage, unsecured consumer credit lines, and commercial loans.
Banco Santander-Chile has a strong focus on small- to medium-sized enterprises, with companies generating over CLP 10,000 million in revenue comprising only around 5% of its outstanding loans. This strategy underscores its commitment to supporting the growth of smaller businesses within the Chilean economy.
In addition to its lending operations, Banco Santander-Chile is the leading card issuer in the country, commanding about 25% of the market share. It also enjoys a long-term strategic partnership with LATAM Chile, the largest airline in the country, which enhances its market position and customer reach.
Recent achievements include the issuance of the first green bond under its ESG Framework to finance green mortgages, demonstrating its commitment to sustainable finance. The construction of Campus Santander, a new corporate building, further highlights its long-term commitment to Chile and its strategic roadmap, Chile First.
Banco Santander-Chile consistently ranks top among its Chilean peers in Net Promoter Score (NPS), reflecting high customer satisfaction and loyalty.
For further information and updates, the bank’s performance and developments are regularly reported in its Annual Reports, which are accessible through the U.S. Securities and Exchange Commission’s website and Santander Chile’s corporate website.
For the latest news and insights, please dial in using any of the provided contact numbers across multiple countries or connect through email at irelations@santander.cl.
Banco Santander Chile (NYSE: BSAC) will host a webcast and conference call to discuss its 2Q 2024 financial results on August 2, 2024, at 10:00 AM New York Time. Key officers participating will include CFO Emiliano Muratore, Chief Strategy Officer & Head of IR Cristian Vicuña, and Economist Carmen Gloria Silva. The Management Commentary report will be available on July 31, 2024, ahead of the market opening. As of March 31, 2024, the bank has reported total assets of Ch$ 74,780,252 million (U.S.$ 76,187 million) and total deposits of Ch$ 30,416,891 million (U.S.$ 30,234 million). The BIS capital ratio stands at 17.0%, with a core capital ratio of 10.4%. Banco Santander Chile enjoys high-risk classifications in Latin America with stable ratings from leading agencies.
Banco Santander Chile announced its first-quarter 2024 earnings, reporting a net income decrease of 11.4% compared to the previous year. The bank showed a solid capital position with a CET1 ratio of 10.4% and a BIS ratio of 17.0%. Loan growth was driven by mortgages and commercial lending, while total deposits increased 2.5% QoQ. Interest income saw a recovery in 1Q24, and net income from fees increased 10.1% in the quarter. Support expenses grew 4.3% in line with guidance. The bank's efficiency ratio reached 47.4% as of March 31, 2024.
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