Banco Santander - Chile ADS (BSAC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. I'd like to welcome you to the Banco Santander Chires second quarter 2025 earnings conference call on the 5th of August 2025. Please note that at this point all participants and lines are in listen-only mode. After the call there'll be an opportunity to ask questions. So with this I would now like to pass the line to Patricia Perez, the Chief Financial Officer. Please go ahead. Good morning everyone. Welcome to Banco Santander Chires second quarter 2025 results webcast and conference call. This is Patricia Perez, CFO, and I'm joined today by Cristian Vicuña, head of strategy and IR, and Andres Zanzone, our chief economist. Thank you everyone for joining us today to review of our second quarter performance and results. Today Andres will start with another view of economic environment and then Cristian will go through the key strategy points and the results of the bank in the second quarter of the year. After that we will have a Q&A session where we will be happy to answer your questions. So then hand over to Andres. Thanks Patricia. On slide four we have our current outlook. Since our last webcast, the Taurus Agenda has seen several developments. After postponing the implementation of new tarros from July 9 to August 1, the US reached trade agreements with multiple economies. This includes trade of around 20% on several Asian countries and 15% on the US. For Chile, the 10% trade will remain in place which corresponds to the new trade agreement. Although there were initial threats of a 50% trade on copper prices, the Trump administration ultimately decided not to apply it to good materials such as concentrate, cathode, anode, and copper scrap, all of which were excluded from the final decision. While market reaction has ...