Banco Santander Chile BSAC

Banco Santander Chile is the largest bank in the Chilean market in terms of loans and the second largest in terms of total deposits, providing a broad range of commercial and retail banking services. As of December 31, 2025, the bank had total assets of Ch$68,147,280 million (U. S.$68.7 billion), outstanding loans at amortized cost, net of allowances for loan losses and including interbank loans of Ch$40,932,880 million (U. S.$41.3 billion), total deposits of Ch$30,569,373 million (U. S.$30.8 billion) and shareholders’ equity of Ch$5,616,359 million (U. S.$5.7 billion). It employs 8,526 people and operates through 229 branches and 2,055 ATMs nationwide, offering services such as Chilean peso and foreign currency denominated loans, trade finance, foreign currency forward contracts, credit lines, mortgage financing, financial leasing, financial advisory services, mutual fund management, securities brokerage, insurance brokerage and investment management.

Banco Santander Chile generates revenue primarily through interest income, fee and commission income, and income from financial operations. The bank earns most of its income from lending activities across its customer segments, including consumer loans, credit cards, auto loans, commercial loans, mortgage loans, and other banking products. Revenue is also derived from wealth management, insurance brokerage, securities services, and transactional services provided to retail, corporate and institutional clients.

The company operates through the following segments: Retail Banking, Wealth Management, Middle-market, Corporate Investment Banking and Corporate Activities (“Other”).

• Retail Banking: This segment consists of individuals, excluding high-net worth clients, and small to medium-sized entities (SMEs) with annual sales less than UF400,000 (U. S.$17.6 million). It provides consumer loans, credit cards, auto loans, commercial loans, foreign exchange, mortgage loans, debit cards, checking accounts, savings products, securities brokerage, and insurance brokerage. SME clients are additionally offered government-guaranteed loans, foreign trade services, leasing, factoring, and transactional services.
• Wealth Management: This segment comprises the Asset Management, Insurance and Private Banking businesses. The Santander Insurance business offers personal and corporate protection products, health insurance, life insurance, travel insurance, savings products, personal protection, automobile insurance, leasing, guarantees, unemployment insurance, among others. For high net worth clients, Santander Private Banking offers transactional products and services such as credits, cards, foreign trade, brokerage, as well as sophisticated products including international investment accounts, structured funds, alternative investment funds, wealth management and open architecture.
• Middle-market: This segment includes companies with annual sales exceeding UF400,000 (US$17.6 million) without a cap, and for specialized industries in the Santiago Metropolitan Region, annual sales exceeding 100,000 UF (US$4.4 million) without a cap. It also encompasses institutional organizations such as universities, government agencies, municipalities, regional governments, and real estate companies undertaking projects for third-party sales, as well as all construction companies with annual sales exceeding UF 100,000 (US$4.4 million) without a cap. A wide variety of products are offered, including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, current accounts, transactional services, treasury services, financial consulting, savings products, mutual funds and insurance.
• Corporate Investment Banking (“CIB”): This segment services multinational firms with annual sales exceeding EUR 500 million (USD 585 million), EBITDA over EUR 150 million (USD 175.5 million), and assets exceeding EUR 1 billion (USD 1.17 billion). For financial institutions, the requirement is assets greater than Ch$10 trillion (US$11.1 billion). It offers commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, current accounts, transactional services, treasury services, financial consulting, investment banking, savings products, mutual funds and insurance, and includes the Treasury Division which provides sophisticated financial products mainly to companies in the Retail Banking and Middle-market areas.
• Corporate Activities (“Other”): This segment mainly includes the Financial Management Division, which develops global management functions, including managing inflation rate risk, foreign currency gaps, interest rate risk and liquidity risk. Liquidity risk is managed mainly through wholesale deposits, debt issuances and the Bank’s available-for-sale portfolio. This segment also manages capital allocation by unit and encompasses all intra-segment income and activities not assigned to a given segment or product with customers.

Banco Santander Chile holds a leading position in the Chilean banking industry, ranking first in total loans and consumer loans, second in residential mortgage loans and total deposits, and first in checking accounts among its peers. The bank demonstrates strong efficiency, recording the lowest efficiency ratio in its peer group at 36.0% as of December 31, 2025, and achieves the highest return on period-end equity at 23.3%. Its relationship with Grupo Santander provides access to the group’s client base, multinational capabilities, product offerings and know-how in systems management, enhancing its competitive advantage in managing credit and market risks.

Banco Santander Chile serves a diverse customer base including individuals, small and medium-sized enterprises, high-net worth clients, multinational corporations, financial institutions, universities, government agencies, municipalities, regional governments, real estate companies and construction companies. The bank provides tailored financial solutions across these groups through its Retail Banking, Wealth Management, Middle-market, Corporate Investment Banking and Corporate Activities segments.