Banco Santiago - BSAC STOCK NEWS

Santander Chile (NYSE: BSAC) held its 2023 Ordinary Shareholders' Meeting, appointing María Olivia Recart and Blanca Bustamante as new directors, enhancing gender diversity with four women on the board. The bank reported a remarkable 390% increase in sustainable financing in 2022, totaling US$230 million in sustainable loans, underscoring its commitment to ESG criteria. During the meeting, a dividend of Ch$2.57 per share was approved, equating to 60% of 2022 profits, aimed at maintaining robust capital levels. The Chile First strategy, backed by a US$260 million investment plan over three years, aims to enhance customer experience through innovative products like “Más Lucas” and Work/Café Expresso. As of 2022, Santander Chile reported total assets of US$79.7 billion and is recognized as a leader in sustainable finance.

SANTAGO, Chile, March 28, 2023 - Banco Santander Chile (NYSE: BSAC) unveiled its "Chile First" initiatives led by CEO Roman Blanco, introducing significant plans for 2023 aimed at enhancing customer experience. Key offerings include "Más Lucas," a digital savings account with no fees, promoting financial inclusion amidst rising living costs. Additionally, the bank launched Work/Café Espresso centers for improved transaction experiences and engaged in specialized services for middle-market companies. As of December 31, 2022, Banco Santander Chile reported total assets of US$ 79.7 billion and a BIS capital ratio of 17.45%, solidifying its position as a leading financial institution in Latin America.

Banco Santander Chile (NYSE: BSAC) announced a proposed dividend of Ch$2.57469221 per share, which, if approved, represents a 7.3% dividend yield based on the current closing price. This proposal, equating to 60% of net income attributable to shareholders, will be brought before shareholders in a meeting scheduled for April 19, 2023. The remaining 40% of the net income will enhance the bank's reserves and profits. As of December 31, 2022, the bank reported total assets of US$ 79.7 billion and a BIS capital ratio of 17.45%, underscoring its strong market position and financial health.

Banco Santander Chile has filed its 2022 Annual Report with the U.S. Securities and Exchange Commission. This report covers the fiscal year ending December 31, 2022, and is accessible online at the SEC's website or directly through Santander Chile’s corporate site. Shareholders can request a free hard copy of the report, which includes the complete audited financial statements, by contacting the Investor Relations Office.

Banco Santander Chile (BSAC) reported strong financial results for the full year 2022, with net income rising 3.8% YoY to Ch$809 billion (Ch$4.29 per share). The return on average equity (ROAE) was 21.6%, supported by significant contributions from retail, middle market, and corporate banking segments. In contrast, net income for 4Q22 fell 56.2% YoY to Ch$102 billion due to declining net interest margins influenced by market conditions. Notably, the bank's total deposits decreased by 4.3% QoQ, while client acquisition via digital platforms showed promising growth, with current account market share reaching 28.4%.

Banco Santander Chile (NYSE: BSAC) announced a conference call-webcast for February 3, 2023, at 9:00 AM ET to discuss its 4Q 2022 financial results. The bank's executives, including CFO Emiliano Muratore, will lead the discussion followed by a Q&A session. The earnings report will be released before market opening on the same day, with a quiet period commencing on January 23. Participants can join via a designated link or by dialing in from various countries. Contact details for investor relations are also provided.

Banco Santander Chile (NYSE: BSAC) has been recognized for the third consecutive year in the Dow Jones Sustainability Index for Emerging Markets, scoring 78 points. This achievement makes it the only bank in Chile featured in this index. The bank improved its score from 91 to 96 percentile compared to 2021, showcasing enhanced practices in Sustainable Finance, Labor Practices, and Cybersecurity. As of September 30, 2022, it reported total assets of US$ 77.4 billion and a BIS capital ratio of 16.8%.