Banco Santiago Stock Price, News & Analysis

Santander Chile (NYSE: BSAC) has successfully issued a bond worth CHF 190 million (approximately US $205 million) in the public market, demonstrating its strong creditworthiness despite local market uncertainties. The five-year bond, with a competitive coupon rate of 0.2975% and a spread of 60 basis points over the reference rate, reflects robust investor interest. With this issuance, Santander's total position in the Swiss franc market has risen to CHF 925 million (around US $1 billion), now comprising 30% of its total foreign debt. This marks the bank's second issuance in 2021.

Banco Santander Chile (NYSE: BSAC) reported a net income of Ch$185,478 million for 2Q21, up 118.6% year-over-year, with a ROAE of 21.6%. The net interest income grew 15.1% YoY, driven by asset growth and improved funding. The bank's total deposits increased 11.0% YoY, while non-interest bearing deposits rose 12.8% YoY. The bank's market share in checking accounts reached 27.8%. Despite a 1.7% YoY drop in total loans, retail loans saw a 4.8% YoY increase. The BIS ratio stands at 14.7%.

Banco Santander Chile (NYSE: BSAC) has scheduled a conference call-webcast for July 29, 2021, at 11:00 AM ET to discuss its 2Q 2021 financial results. The earnings report will be available prior to the market opening on the same day. Participants will include CFO Emiliano Muratore, Investor Relations Manager Robert Moreno, and Chief Economist Claudio Soto. A Q&A session will follow the presentation. The quiet period begins on July 14. For participation details, including a link to the webcast, please refer to the press release.

Santander Chile returns to the international debt market with a successful issuance of CHF 150 million Senior Notes, equivalent to US$167 million, due in 2027. This marks the bank's first operation in this segment since January 2020, reflecting strong investor demand despite market volatility. The issuance carried a competitive coupon of 0.33%, with a spread of 62 basis points above the Mid-Swap. With this issuance, the bank's total position in international markets reaches approximately CHF 737 million (US$822 million), enhancing its funding diversification strategy.

Banco Santander Chile (NYSE: BSAC) reported its 1Q21 results, showing a 26.2% YoY net income increase to Ch$183,970 million despite a 1.0% QoQ decline. This performance was driven by an 11.0% rise in net interest income and a 42.2% YoY growth in non-interest bearing demand deposits. The bank's ROAE reached 20.4%, and operating expenses increased only 1.5% YoY. However, additional provisions of Ch$24,000 million were made for potential credit quality impacts due to COVID-19.

Banco Santander Chile (BSAC) announced a dividend of Ch$ 1.64751729 per share to be approved at the Annual Shareholders’ Meeting on April 29, 2021. Shareholders will receive the dividend on April 30, 2021, with record dates set for April 23 for ADR holders and April 24 for local shareholders. The net dividend after a 23.9% withholding tax will be Ch$ 1.25369294. Foreign shareholders may have different withholding rates depending on their tax residency status. Banco Santander Chile is the largest bank in Chile, with total assets of US$ 78.3 billion.

Banco Santander Chile (NYSE: BSAC) invites participants to its conference call-webcast on April 30, 2021, at 11:00 AM ET to discuss the 1Q 2021 financial results. Officers, including Emiliano Muratore, CFO, will be involved in the presentation, followed by a Q&A session. The earnings report will be available on the same day before the market opens. The quiet period starts on April 15. Interested parties can join via webcast or by dialing in from various countries. For further inquiries, contact Robert Moreno in Investor Relations.

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.