Banco Santander - Chile ADS (BSAC) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Please hold. I would like to welcome you to Banco Santander Chile's fourth quarter 2025 earnings conference call on the 5th of February, 2026. Please note that at this point, all participant lines are in listen-only mode. After the call, there will 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, and welcome to San Carlos Santander City's Fourth Quarter 2025 Results Webcast and Conference Call. This is Patricia Perez, CFO, and I'm joined today by Cristian Micuña, Head of Strategy and Investor Relations, and Lorena Padomeque, our Economist. Thank you all for joining us today as we review our performance and results for the fourth quarter. Lorena will begin with an overview of the economic environment followed by Christiane, who will walk you through our strategic priorities and forward the results. We will then conclude with a Q&A session. Thank you. Throughout 2025, Chile's macroeconomic environment continued to improve gradually after several years of significant adjustment. Inflation maintained a clear downward trend and continued converging toward targets. which allows monetary policy to move away from a clearly restrictive stance. As a result, financial conditions became progressively more supportive, helping to stabilize economic activity. Here on slide four, we can see the regulatory and policy environment. A key development in 2025 was the implementation of the mortgage subsidy law aimed to lowering effective borrowing costs and supporting the recovery of housing demand. This measure is particularly relevant in a context where affordability constraints and higher interest rates have significantly affected mortgage origination i...