Banco Santiago - BSAC STOCK NEWS

Banco Santander Chile announced a proposed dividend of Ch$1.64751729 per share, representing 60% of its net income attributable to shareholders, during an extraordinary Board meeting on March 30, 2021. If approved, this dividend will yield 3.6% based on the current share price. The remaining 40% of net income will be allocated to bolster the Bank's capital reserves. As of December 31, 2020, the bank held total assets of US$78.3 billion and a BIS capital ratio of 15.4%, reflecting its solid financial position in the Chilean market.

Getnet has officially launched in Chile after regulatory approval from the Financial Markets Commission (CMF), expanding its payment solutions to the region. The new acquiring network aims to capture a 15% market share over the next three years, enhancing competition in the local payments sector. Getnet will allow businesses to receive funds up to five times a day, significantly faster than competitors, which require up to 72 hours. With partnerships and innovative offerings, Getnet expects to provide high security and agile transactions while benefiting thousands of businesses across Chile.

Banco Santander Chile (NYSE: BSAC) has submitted its Annual Report on Form 20-F for the fiscal year ending December 31, 2020, to the SEC. The report is accessible on the SEC's website and Santander Chile’s corporate site. Shareholders can request a hard copy of the report, which contains audited financial statements, free of charge by contacting their Investor Relations office. For more information, shareholders can reach out to Robert Moreno via phone or email.

On February 16, 2021, Santander Chile issued its first sustainable bond worth US$50 million at a 0.71% interest rate for a three-year term. This bond focuses on financing women-led SMEs, reinforcing the bank's commitment to financial inclusion and supporting the UN Sustainable Development Goals. The bond is part of a larger loan portfolio of approximately US$380 million dedicated to women entrepreneurs. Santander aims to promote growth among women-operated businesses while enhancing its position in global ESG sustainability indexes.

Banco Santander Chile (NYSE: BSAC) reported 4Q20 net income of Ch$183,435 million, up 57.2% YoY and 74.5% QoQ, achieving a ROAE of 20.4%. Full-year 2020 net income reached Ch$517,447 million, a 6.3% decrease vs. 2019. Total deposits rose 7.0% YoY, with non-interest bearing demand deposits increasing 41.4%. The bank's BIS ratio hit a 10-year high of 15.4%, leading to a 60% payout ratio on 2019 earnings. Net interest income also grew 18.0% YoY due to lower funding costs.

Banco Santander Chile (NYSE: BSAC) has announced a conference call-webcast on February 4, 2021, at 10:00 AM ET to discuss its 4Q 2020 financial results. The earnings report will be published before the market opens on the same day. The quiet period will begin on January 21. Key Bank officers including CFO Emiliano Muratore will participate. Interested parties can join via a webcast or by dialing in approximately 10 minutes prior to the start time. For inquiries, contact Investor Relations.

Banco Santander Chile (NYSE: BSAC) has launched Tienda Santander, a new virtual platform allowing credit card clients to purchase Apple products in up to 24 interest-free installments. This initiative is part of the bank's digital strategy and aims to expand product offerings, including essentials and leisure items. As a promotional launch, customers buying an iPhone 12 model will receive a 50% discount on AirPods. As of September 30, 2020, Banco Santander Chile reported total assets of US$ 72.9 billion.

Banco Santander Chile recently showcased its digital transformation efforts in a virtual investor talk. President Claudio Melandri highlighted a significant market share with over 35% of digital clients among private banks in Chile. The bank completed a US$360 million investment plan and announced an additional US$250 million for the 2021-2023 phase. Initiatives like Santander Life and WorkCafé are pivotal for customer engagement and cost reduction. As of September 30, 2020, total assets reached US$72.9 billion, with a BIS capital ratio of 15.1%.

Banco Santander Chile (NYSE: BSAC) reported a net income of Ch$105,139 million for 3Q20, a 23.9% increase QoQ, despite adding Ch$30,000 million in provisions for potential credit quality impacts from COVID-19. Year-to-date, net income dropped 23.3% YoY to Ch$334,012 million. Non-interest bearing demand deposits surged 47% YoY, while total loans rose 9.3% YoY. The Bank's BIS ratio hit a 10-year high at 15.1%, prompting a proposal for a 3% dividend payout of retained earnings. However, non-interest income declined by 29% QoQ due to lower economic activity.