$BSAC

BANCO SANTANDER CHILE

CIK:0001027552|SEC Filings

Consolidated Statements of Income - CLP ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - CLP ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
OPERATING INCOME
Interest income and inflation	$ 3,795,609	$ 4,094,817	$ 4,403,991
Interest expense and inflation	(1,808,926)	(2,308,031)	(3,310,942)
Net interest income	1,986,683	1,786,786	1,093,049
Fee and commission income	1,040,644	960,168	848,513
Fee and commission expense	(444,813)	(413,102)	(345,873)
Net fee and commission income	595,831	547,066	502,640
Net income from financial operations:
Net income/(expense) from financial assets and liabilities for trading	(43,556)	85,013	91,761
Net income from derecognising financial assets and liabilities at amortised cost and financial assets at fair value through other comprehensive income	2,938	(37,068)	(120,934)
Net income from exchange, adjustment and hedge accounting of foreign exchange	296,400	202,574	331,628
Net income from financial operations	255,782	250,519	302,455
Income from investments in associates and other companies	9,289	10,436	8,763
Net income from non-current assets and groups available for sale not admissible as discontinued operations	7,243	4,049	13,154
Other operating income	7,016	8,048	3,807
TOTAL OPERATING INCOME	2,861,844	2,606,904	1,923,868
Personnel salaries and expenses	(412,902)	(398,819)	(412,275)
Administrative expenses	(387,605)	(366,431)	(320,111)
Depreciation and amortisation	(135,159)	(141,435)	(143,762)
Impairment of non-financial assets	(3,747)	(1,295)	(1,912)
Other operating expenses	(101,703)	(114,739)	(31,638)
TOTAL OPERATING EXPENSES	(1,041,116)	(1,022,719)	(909,698)
NET OPERATING INCOME BEFORE CREDIT LOSSES	1,820,728	1,584,185	1,014,170
Provisions for loan losses for interbank loans and account receivable from customers	(750,537)	(660,814)	(453,458)
Provisions for loan losses for contingent loans and others	(13,466)	2,902	24,363
Recovery of loans previously charged-off	192,640	153,944	107,069
Provision for loan losses for other financial assets at amortised cost and financial assets at fair value through OCI	(3,950)	(622)	(759)
Provision for loan losses	(575,313)	(504,590)	(322,785)
NET OPERATING INCOME BEFORE INCOME TAX	1,245,415	1,079,595	691,385
Income tax expense	(207,362)	(219,745)	(97,548)
Result of continuing operations	1,038,053	859,850	593,837
Result of discontinued operations	0	0	0
NET INCOME FOR THE YEAR	1,038,053	859,850	593,837
Attributable to:
Shareholders of the Bank	1,021,650	852,964	579,427
Non-controlling interest	$ 16,403	$ 6,886	$ 14,410
Earnings per share from continued operations attributable to shareholders of the Bank:
Basic earnings (in Pesos per share)	$ 5.421	$ 4.526	$ 3.075
Diluted earnings (in Pesos per share)	5.421	4.526	3.075
Earnings per share attributable to shareholders of the Bank:
Basic earnings (in Pesos per share)	5.421	4.526	3.075
Diluted earnings (in Pesos per share)	$ 5.421	$ 4.526	$ 3.075

Consolidated Statements of Cash Flows - CLP ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of cash flows [abstract]
NET INCOME FOR THE YEAR	$ 1,038,053	$ 859,850	$ 593,837
Adjustments for non-cash items included in net income	(1,828,308)	(1,573,032)	(1,306,901)
Depreciation and amortization	135,159	141,435	143,762
Impairment of property, plant, and equipment	3,747	1,295	1,912
Provision for loan losses	767,953	658,534	429,854
Mark to market of trading investments	(820)	(45,365)	(125,613)
Income from investments in associates and other companies	(9,289)	(8,533)	(8,763)
Net gain on sale of assets received in lieu of payment	(9,141)	(3,993)	(8,452)
Provision on assets received in lieu of payment	2,761	95	(858)
Net sale on sale of investment in associates and other companies	0	(1,903)	0
Net gain on sale of property, plant and equipment	(10,067)	(5,123)	(5,281)
Net interest income	(1,986,683)	(1,786,786)	(1,093,049)
Net fee and commission income	(595,831)	(547,066)	(502,640)
Changes in deferred taxes	(38,797)	12,659	(131,195)
Other non-cash items	(87,300)	11,719	(6,578)
Increase/decrease in operating assets and liabilities	845,662	1,195,570	2,028,822
(Increase)/decrease of loans and accounts receivables from customers, net	427,858	(549,114)	(2,047,036)
(Increase)/decrease of financial investments	(1,645,419)	4,618,410	(1,908,858)
Decrease/ (increase) of interbank loans	(36,812)	37,068	(35,372)
Decrease/(increase) of assets received or awarded in lieu of payment	(20,376)	(21,082)	(5,685)
Increase/(decrease) of debits in customers checking accounts	(224,140)	883,710	(697,222)
(Decrease)/increase of time deposits and other time liabilities	(604,843)	960,683	3,159,152
(Decrease)/increase of obligations with domestic banks	(22,260)	6,093	4,900
Increase/(decrease) of other demand liabilities or time obligations	50,704	61,322	(162,301)
Increase/(decrease) of obligations with foreign banks	(881,450)	14,222	1,032,051
Increase/(decrease) of obligations with Central Bank of Chile	0	(6,048,867)	464,784
(Decrease)/increase of obligations under repurchase agreements	2,478,656	(5,996)	(32,771)
(Decrease)/increase in other financial liabilities	23,780	(95,732)	3,278
(Decrease)/increase of other assets and liabilities	413,431	609,870	940,645
Redemption of letters of credit	(166)	(1,009)	(2,568)
Senior bond issuances	2,155,077	692,004	775,171
Redemption of senior bonds and payments of interest	(2,566,337)	(1,221,744)	(266,794)
Redemption of mortgage bonds and payments of interest	(10,365)	(8,647)	(7,545)
Redemption of perpetual bond and payments of interest	(30,560)	(30,818)	(28,243)
Payment of interest on lease obligations	(30,803)	(7,617)	(3,601)
Interest received	4,240,201	4,964,892	4,662,944
Interest paid	(3,189,844)	(4,076,146)	(4,135,540)
Dividends received from investments in other companies	3,385	966	2,944
Fees and commissions received	760,758	692,044	621,286
Fees and commissions paid	(444,813)	(278,942)	(304,797)
Total cash flow (used in) provided by operating activities	55,407	482,388	1,315,758
B - CASH FLOWS FROM INVESTMENT ACTIVITIES:
Purchases of property, plant, and equipment	(84,659)	(63,161)	(74,426)
Sales of property, plant, and equipment	32,582	1,140	1,643
Purchases of intangible assets	(52,868)	(44,559)	(45,067)
Total cash flow used in investment activities	(104,945)	(106,580)	(117,850)
C - CASH FLOW FROM FINANCING ACTIVITIES:
Dividends paid	(600,336)	(347,483)	(485,191)
Placement of subordinated bond	0	0	0
Lease obligations paid	(20,762)	(25,364)	(30,101)
Total cash flow used in financing activities	(621,098)	(372,847)	(515,292)
D – NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS DURING THE YEAR	(670,636)	2,961	682,616
E – EFFECTS OF FOREIGN EXCHANGE RATE FLUCTUATIONS	(7,305)	7,317	(1,778)
F - INITIAL BALANCE OF CASH AND CASH EQUIVALENTS	2,771,002	2,760,724	2,079,886
FINAL BALANCE OF CASH AND CASH EQUIVALENTS	2,093,061	2,771,002	2,760,724
Reconciliation of provisions for the Consolidated Statements of Cash Flow for the year ended
Provision for loan losses for cash flow purposes	(767,953)	(658,534)	(429,854)
Recovery of loans previously charged off	192,640	153,944	107,069
Provision for loan losses – net	$ (575,313)	$ (504,590)	$ (322,785)

Consolidated Statements of Financial Position $ in Millions, $ in Millions	Dec. 31, 2025 CLP ($)	Dec. 31, 2024 CLP ($)
ASSETS
Cash and deposits in banks	$ 1,975,644	$ 2,695,560
Cash items in process of collection	1,185,633	572,552
Financial assets for trading at fair value through profit and loss	11,594,405	12,639,097
Financial derivative contracts	10,879,777	12,309,770
Debt financial instruments	714,628	329,327
Financial assets at fair value through other comprehensive income	3,889,952	2,762,388
Debt financial instrument	3,598,366	2,687,485
Other financial instruments	291,586	74,903
Financial derivative contracts for hedge accounting	261,192	843,628
Financial assets at amortised cost	45,663,647	45,460,246
Rights under repurchase agreements	427,983	153,087
Debt financial instruments	5,525,242	5,176,005
Interbank loans	68,176	31,282
Loans and account receivable from customers	39,642,246	40,099,872
Investments in associates and other companies	67,040	59,785
Intangible assets	91,475	88,669
Property, plant, and equipment	242,522	251,846
Right of use assets	29,915	60,792
Current taxes	113	60
Deferred taxes	387,698	361,256
Other assets	2,644,044	2,535,775
Non-current assets and disposal groups for sale	114,000	71,629
TOTAL ASSETS	68,147,280	68,403,283
LIABILITIES
Cash items in process of being cleared	1,068,216	497,110
Financial liabilities for trading at fair value through profit and loss	10,587,308	12,155,024
Financial derivative contracts	10,587,308	12,155,024
Financial derivative contracts for accounting hedges	912,716	898,394
Financial liabilities at amortised cost	44,682,274	44,307,585
Deposits and other demand liabilities	14,075,590	14,260,609
Time deposits and other time liabilities	16,493,783	17,098,625
Obligations under repurchase agreements	2,755,243	276,588
Interbank borrowings	3,434,237	4,337,947
Issued debt instruments	7,699,100	8,133,275
Other financial liabilities	224,321	200,541
Lease liabilities	40,649	66,882
Regulatory capital financial instruments	1,948,493	1,910,697
Provisions	838,448	746,502
Current taxes	83,084	48,548
Deferred taxes	1,785	676
Other liabilities	2,248,006	2,412,910
TOTAL LIABILITIES	62,410,979	63,044,328
EQUITY
Attributable to the shareholders of the Bank:	5,616,359	5,254,561
Capital	891,303	891,303
Reserves	3,505,171	3,277,876
Valuation adjustments	(71,181)	(107,174)
Others equity instruments issued other than capital	629,468	693,382
Retained earnings	661,598	499,174
Retained earnings from prior years	271,873	246,540
Income for the year	1,021,650	852,964
Minus: Provision for mandatory dividends	(631,925)	(600,330)
Non-controlling interest	119,942	104,394
TOTAL EQUITY	5,736,301	5,358,955
TOTAL LIABILITIES AND EQUITY	$ 68,147,280	$ 68,403,283