Welcome to our dedicated page for Banco Santiago news (Ticker: BSAC), a resource for investors and traders seeking the latest updates and insights on Banco Santiago stock.
Banco Santiago (BSAC) is a leading Chilean financial institution providing consumer banking, commercial loans, and card services since 1978. This page aggregates all verified news and official announcements related to BSAC's operations, financial performance, and market position.
Key features for stakeholders: Track earnings reports, regulatory updates, leadership changes, and strategic partnerships through primary-source documents and curated analysis. Content spans mortgage lending developments, SME financing initiatives, and innovations in Chile's retail banking sector.
Regular updates include: Quarterly earnings disclosures, merger/acquisition alerts, credit rating changes, and product launches. Investors gain insights into BSAC's net interest margin trends, risk management practices, and competitive positioning against regional banks.
Bookmark this page for streamlined access to BSAC's financial communications. Combine with our fundamental analysis tools to contextualize news within the company's long-term performance metrics.
Banco Santander Chile (NYSE: BSAC) reported strong Q3 2024 results with net income of $243,133 million ($0.58 per ADR), up 11.7% from Q2. The bank achieved a 23.1% ROAE in Q3 and 18.2% for the first nine months of 2024. Net interest and readjustment income increased 74.8% year-over-year, driven by improved cost of funds. Net fees grew 8.3% quarterly with 63.4% recurrence. The bank maintains strong market positions with 23.8% share in current accounts and 182,000 affiliated merchants on Getnet. The efficiency ratio improved to 36.3% in Q3, while maintaining a solid capital position with a 17.2% BIS ratio.
Banco Santander Chile (NYSE: BSAC) has announced its Third Quarter 2024 Analyst and Investor Webcast / Conference Call, scheduled for Wednesday, October 30, 2024, at 11.00 AM (EST). The event will feature key bank officers discussing the 3Q 2024 financial results, followed by a Q&A session. The Management Commentary report will be published on October 30, before market opening, with the quiet period beginning on October 16.
As of June 30, 2024, Banco Santander Chile reported:
- Total assets: $68,262,019 million (US$72,431 million)
- Outstanding gross loans: $40,565,553 million (US$43,043 million)
- Total deposits: $29,297,940 million (US$31,087 million)
- Shareholders' equity: $4,194,393 million (US$4,451 million)
- BIS capital ratio: 17.4%
- Core capital ratio: 10.6%
The bank employs 8,885 people and operates 244 branches throughout Chile.
Banco Santander Chile (NYSE: BSAC) reported strong Q2 2024 results, with net income attributable to shareholders reaching $217,724 million ($1.16 per share), an 81.1% increase from the previous quarter. The bank achieved an impressive ROAE of 20.7% in Q2 and 15.8% for the first half of 2024. Key highlights include:
- Net interest margin (NIM) recovery to 3.6% in Q2
- Net interest income up 54.5% year-over-year
- Net fees increased 6.5% quarter-over-quarter
- Cost of credit stable at 1.25%
- Solid capital levels with a BIS ratio of 17.4% and CET1 of 10.6%
- Upgraded 2024 guidance: ROAE 17%-18%, NIM 3.3%-3.5%
The bank's performance reflects strong income growth, improved efficiency, and stable asset quality despite economic challenges.
Banco Santander Chile (NYSE: BSAC) will host a webcast and conference call to discuss its 2Q 2024 financial results on August 2, 2024, at 10:00 AM New York Time. Key officers participating will include CFO Emiliano Muratore, Chief Strategy Officer & Head of IR Cristian Vicuña, and Economist Carmen Gloria Silva. The Management Commentary report will be available on July 31, 2024, ahead of the market opening. As of March 31, 2024, the bank has reported total assets of Ch$ 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.
FAQ
What is the current stock price of Banco Santiago (BSAC)?
What is the market cap of Banco Santiago (BSAC)?
