Banco Santander-chile · BCS:BSANTANDER
Banco Santander-chile — Q1 2025 Earnings Presentation
30 slides from Banco Santander-chile's earnings presentation, May 8, 2025
Slide 1: Strategy & 1Q25 results
Banco Santander Chile Strategy & 1Q25 results May 2025
Slide 2: Important information
Important information Banco Santander Chile caution that this presentation contains forward looking statements Note: the information contained in this presentation is within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward not audited and is presented in Chilean
Slide 3: Agenda
Agenda 1| Macro environment 2| Strategy 2023-2026 3| Balance sheet and results 4| Conclusions 5| Annexes
Slide 4: Macro view
Macro environment Macro view GDP growth Inflation Annual growth % UF inflation, annual variation, % 13,3% 11,3% 2,1% 2,6% 2,1% 1,7% 6,6% 0,2% 4,8% 4,4% 3,4% 3,1% 2,7% -6,1% 2020 2021 2022 2023 2024 2025(f) 2026(f) 2020 2021 2022 2023 2024 2025(f) 2026(f) Monetary Policy Rate Unemployment %, eop % 11
Slide 5: Update on proposed and approved regulations
Macro environment Update on proposed and approved regulations The tax reform proposed by the Ministry of Finance—which included reducing the corporate Tax reform tax rate from 27% to 24% and increasing personal income taxes—has been officially removed from the legislative agenda. Meanwhile, the Sena
Slide 6: Agenda
Agenda 1| Macro environment 2| Strategy 2023-2026 3| Balance sheet and results 4| Conclusions 5| Annexes
Slide 7: Key messages
Strategy 2023-2026 Key messages Results 1Q25 financial highlights Strategy spotlights Net • Fees growth 16.8% YoY and 6.8% QoQ. • Our digital accounts reached over 2.3 mn Profit Financial transactions grow 40.0% YoY and customers and 4.3 mn total customers 6.5% QoQ CLP$ 278 billion • Top 1 for custo
Slide 8: Digital bank with Work/Café: Increasing our client base
Strategy 2023-2026 Digital bank with Work/Café: Increasing our client base 34% without TOTAL BRANCHES human PRODUCT SIMPLIFICATION tellers CLIENT SATISFACTION -4.0% Traditional 247 236 237 305 #1 Leading for 5 years Work/Café Total products 143 133 132 Work/Café decrease of 31% YoY in NPS 57 points
Slide 9: All this translates to higher fee generation and better efficiency
Strategy 2023-2026 All this translates to higher fee generation and better efficiency Fees Checking accounts (#) +10% YoY growing 17% YoY Business current accounts 485k +25% YoY Credit Card Transactions ($) +10% YoY Getnet clients 200k +25% YoY Mutual Funds AUMs ($) +20% YoY Market Share Getnet 20%
Slide 10: Agenda
Agenda 1| Macro environment 2| Strategy 2023-2026 3| Balance sheet and results 4| Conclusions 5| Annexes
Slide 11: ROAE of 25.7% in 1Q25 and showing positive trends
Balance sheet and results ROAE of 25.7% in 1Q25 and showing positive trends Quarterly ROAE Quarterly net income attributable to shareholders % April 2025 ROAE YTD Ch$ million 25.9% +131.0% +0.5% 26,0% 25,7% 276.514 277.797 23,1% 243.133 20,7% 217.724 11,2% 120.251 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24
Slide 12: 23.4% YoY growth in Fees + Financial Tx.
Balance sheet and results 23.4% YoY growth in Fees + Financial Tx. Fees and Financial Transactions Fees Ch$bn +23.4% Ch$ billion 3M25 YoY QoQ +6.7% Card fees 37.6 31.9% 9.4% 205.6 Getnet 24.4 69.8% 4.2% 218.4 219.5 177.8 192.6 Asset management 21.5 21.2% 6.4% 72,1 71,2 Checking accounts 19.1 11.2% 0
Slide 13: NIM of 4.1% in 1Q25 as cost of funds continues to fall
Balance sheet and results NIM of 4.1% in 1Q25 as cost of funds continues to fall Quarterly NIM1 Net interest income Ch$ billion 3M25 YoY QoQ 4,7% 4,2% 4,1% 3,9% Net interest income 424 36.4% 0.1% 3,6% Net readjustment income 90 73.6% (7.6%) 3,1% 2,7% Net income from interest and 514 41.7% (1.4%) rea
Slide 14: Relevant growth in mutual funds and strong liquidity
Balance sheet and results Relevant growth in mutual funds and strong liquidity Total deposits Ch$bn Ch$ billion 3M25 YoY QoQ +0.6% Demand deposits 13,302 (1.5%) (6.7%) -2.4% Time deposits 17,306 2.4% 1.2% 30.417 29.298 29.617 31.359 30.608 Total deposits 30,608 0.6% (2.4%) Mutual funds1 13,870 20.1%
Slide 15: Retail loans drive loan growth
Balance sheet and results Retail loans drive loan growth Total loans Total loans by product Ch$bn Ch$ billion 3M25 YoY QoQ -0.4% Consumer 5,861 4.0% (0.9%) -0.5% Auto loans1 1,037 13.6% 2.1% 41.253 40.527 40.325 41.324 41.099 Credit cards 1,972 10.8% (0.4%) Mortgages 17,546 1.6% (0.1%) Commercial 17
Slide 16: Efficiency ratio 35.0% in 1Q25, with recurrence of 62%
Balance sheet and results Efficiency ratio 35.0% in 1Q25, with recurrence of 62% Operating expenses Ch$ billion 3M25 YoY QoQ Ch$bn Personnel expenses 94.1 3.3% (6.3%) -1.8% -3.3% Administrative expenses 110.7 20.0% 22.5% 400,0 265 Investment amortization 35.2 (3.0%) (1.5%) 350,0 260 252 255 300,0 24
Slide 17: Cost of risk at 1.36% with NPLs showing early signs of stabilization
Balance sheet and results Cost of risk at 1.36% with NPLs showing early signs of stabilization and commercial portfolio improving. NPLs and NPL ratio 2 Ch$bn (%) Quarterly provision expense and quarterly cost of credit1 2.000 3,1% 3,2% 3,2% 3,5% 2,5% 2,7% 3,0% Ch$bn (%) 1.500 2,5% 200 1,60% 1.311 1.
Slide 18: Solid capital levels with a BIS ratio at 16.9%
Balance sheet and results Solid capital levels with a BIS ratio at 16.9%, including dividend of 70% for 2024 results. Core capital & BIS ratio Current Phase-in of Basel III 17.0% 16.9% Dec-25 +~600 bp under 4,9% 4,6% Minimum from Banking Law 4.5% 12.63% ECB regulation D- SIB 1.5% Including AT1 1,7%
Slide 19: Agenda
Agenda 1| Macro environment 2| Strategy 2023-2026 3| Balance sheet and results 4| Conclusions 5| Annexes
Slide 20: 2025 Outlook: updating ROAE target for 2025
Conclusions 2025 Outlook: updating ROAE target for 2025 with better non-NII prospects Initial Updated 2025 targets 2025 targets Mid single digit Mid single digit Loan Growth growth1 growth1 Macro Expectations for NIM c. 4% c. 4% 2025 Non-NII Mid Single Digit High Single Digit growth growth GDP 2.1%
Slide 21: Santander & Santander
& Santander
Slide 22: Agenda
Agenda 1| Macro environment 2| Strategy 2023-2026 3| Balance sheet and results 4| Conclusions 5| Annexes
Slide 23: Portfolio breakdown by product
Balance sheet and results Portfolio breakdown by product Mortgage loans Commercial loans Consumer loans NPL ratio1 NPLs NPL Ratio NPL ratio1 NPL ratio1 Coverage3 42% Coverage3 116% Coverage3 382% 2,6% 2,7% 2000 2,4% 3,0% 2000 3,8% 4,1% 4,1% 4,0% 5,0%2000 4,0% 1800 1800 3,5% 1800 1600 2,5% 1600 3,2%
Slide 24: Solid balance structure and liquidity levels
Balance sheet and results Solid balance structure and liquidity levels Structural balance sheet US$bn, March 2025 Consumer 5,7 Balance Sheet sensitivities Demand Deposits 13,9 Inflation: Commercial 17,8 • +100bp in inflation = +15 bp of NIM app. • Approx 58% of loans are linked to inflation. Time De
Slide 25: A diversified and universal bank
Balance sheet and results A diversified and universal bank Composition of our loan book %, March 2025 100% Interbank loans; 0,1% Social services and other communal services; 27.9% Consumer; 14,3% Trade ; 20.0% 90% Real estate services; 13.6% 80% Agriculture, livestock, fishing, forestry, etc.; 9.0%
Slide 26: Annexes- (Unaudited financial information)
Annexes- (Unaudited financial information) Mar-25 Dec-24 Mar-25/Dec-24 Assets Ch$ Million % Chg. Cash and deposits in banks 1.947.663 2.695.560 (27,7%) Cash items in process of collection 956.151 572.552 67,0% 11.329.759 12.639.097 (10,4%) Financial assets for trading at fair value through earnings
Slide 27: Annexes- (Unaudited financial information)
Annexes- (Unaudited financial information) Mar-25 Dec-24 Mar-25/Dec-24 LIABILITIES Ch$ Million % Chg. Cash items in process of being cleared 735.113 497.110 47,9% Financial liabilities for trading at fair value through earnings 10.873.073 12.155.024 (10,5%) Financial derivative contracts 10.873.073
Slide 28: Annexes-(Unaudited financial information)
Annexes-(Unaudited financial information) Mar-25 Mar-24 Mar-25/Mar-24 Ch$ Million % Chg. Interest income 838.017 980.875 (14,6%) Interest expense (414.179) (670.148) (38,2%) Net interest income 423.838 310.727 36,4% Readjustment income 131.884 63.041 109,2% Readjustment expense (42.088) (11.330) 271
Slide 29: Annexes –(Unaudited financial information)
Annexes –(Unaudited financial information) 1Q25 4Q24 1Q24 1Q25/1Q24 1Q25/4Q24 Ch$ Million % Chg. Interest income 838.017 872.542 980.875 (14,6%) (4,0%) Interest expense (414.179) (449.053) (670.148) (38,2%) (7,8%) Net interest income 423.838 423.489 310.727 36,4% 0,1% Readjustment income 131.884 154
Slide 30: Annexes- (Unaudited financial information)
Annexes- (Unaudited financial information) (Ch$ millions) Asset quality Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Impaired loans6 2.397.573 2.523.808 2.694.292 2.782.562 2.852.171 Non-performing loans (NPLs) 7 1.044.628 1.079.179 1.250.929 1.311.374 1.194.384 Past due loans8 564.280 576.686 613.851 640.821
Banco Santander Chile — Q1 2025 Earnings Presentation on 6ix