1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
YTD income statement
Unaudited YTD Income Statement
Jun/21
Jun/21
Jun/20
Jun-21/Jun-20
US$ Ths1
Ch$ Million
% Chg.
Interest income
1,663,433
1,217,766
1,153,152
5.6%
Interest expense
-476,274
-348,671
-384,510
-9.3%
Net interest income
1,187,159
869,095
768,642
13.1%
Fee and commission income
351,274
257,161
226,967
13.3%
Fee and commission expense
-143,658
-105,169
-90,302
16.5%
Net fee and commission income
207,617
151,992
136,665
11.2%
Net income (expense) from financial operations
12,650
9,261
216,071
-95.7%
Net foreign exchange gain
84,742
62,038
-116,001
-153.5%
Total financial transactions, net
97,392
71,299
100,070
-28.8%
Other operating income
14,091
10,316
11,939
-13.6%
Net operating profit before provisions for loan losses
1,506,259
1,102,702
1,017,316
8.4%
Provision for loan losses
-251,397
-184,043
-293,933
-37.4%
Net operating profit
1,254,861
918,659
723,383
27.0%
Personnel salaries and expenses
-274,094
-200,659
-202,582
-0.9%
Administrative expenses
-185,343
-135,686
-127,804
6.2%
Depreciation and amortization
-79,669
-58,324
-55,270
5.5%
Op. expenses excl. Impairment and Other operating expenses
-539,106
-394,669
-385,656
2.3%
Impairment of property, plant and equipment
-
-
-638
-100.0%
Other operating expenses
-70,190
-51,385
-45,958
11.8%
Total operating expenses
-609,297
-446,054
-432,252
3.2%
Operating income
645,565
472,605
291,131
62.3%
Income from investments in associates and other companies
1,212
887
596
48.8%
Income before tax
646,776
473,492
291,727
62.3%
Income tax expense
-140,039
-102,520
-61,325
67.2%
Net income from ordinary activities
506,737
370,972
230,402
61.0%
Net income discontinued operations
-
-
-
--%
Net consolidated income
506,737
370,972
230,402
61.0%
Net income attributable to:
Non-controlling interest
5,165
3,781
1,529
147.3%
Net income attributable to equity holders of the Bank
501,572
367,191
228,873
60.4%
1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
Quarterly income statement
Unaudited Quarterly Income Statement
2Q21
2Q21
1Q21
2Q20
2Q21/2Q20
2Q21/1Q21
US$ Ths1
Ch$ Million
% Chg.
Interest income
824,149
603,343
614,423
512,718
17.7%
(1.8%)
Interest expense
(225,993)
(165,445)
(183,226)
(132,375)
25.0%
(9.7%)
Net interest income
598,156
437,898
431,197
380,343
15.1%
1.6%
Fee and commission income
179,568
131,458
125,703
101,317
29.7%
4.6%
Fee and commission expense
(75,016)
(54,918)
(50,251)
(39,057)
40.6%
9.3%
Net fee and commission income
104,551
76,540
75,452
62,260
22.9%
1.4%
Net income (expense) from financial operations
(21,106)
(15,451)
24,712
60,377
(125.6%)
(162.5%)
Net foreign exchange gain
78,207
57,254
4,784
16,846
239.9%
1096.8%
Total financial transactions, net
57,102
41,803
29,496
77,223
(45.9%)
41.7%
Other operating income
6,875
5,033
5,283
5,528
(9.0%)
(4.7%)
Net operating profit before provisions for loan losses
766,684
561,274
541,428
525,354
6.8%
3.7%
Provision for loan losses
(130,849)
(95,792)
(88,251)
(191,063)
(49.9%)
8.5%
Net operating profit
635,835
465,482
453,177
334,291
39.2%
2.7%
Personnel salaries and expenses
(141,773)
(103,789)
(96,870)
(102,748)
1.0%
7.1%
Administrative expenses
(90,515)
(66,264)
(69,422)
(64,180)
3.2%
(4.5%)
Depreciation and amortization
(41,792)
(30,595)
(27,729)
(27,556)
11.0%
10.3%
Op. expenses excl. Impairment and Other operating expenses
(274,079)
(200,648)
(194,021)
(194,484)
3.2%
3.4%
Impairment of property, plant and equipment
-
-
-
-
--%
--%
Other operating expenses
(34,690)
(25,396)
(25,989)
(24,901)
2.0%
(2.3%)
Total operating expenses
(308,770)
(226,044)
(220,010)
(219,385)
3.0%
2.7%
Operating income
327,065
239,438
233,167
114,906
108.4%
2.7%
Income from investments in associates and other companies
798
584
303
257
127.2%
92.7%
Income before tax
327,863
240,022
233,470
115,163
108.4%
2.8%
Income tax expense
(72,424)
(53,020)
(49,500)
(29,777)
78.1%
7.1%
Net income from ordinary activities
255,439
187,002
183,970
85,386
119.0%
1.6%
Net income discontinued operations
-
-
-
-
--%
--%
Net consolidated income
255,439
187,002
183,970
85,386
119.0%
1.6%
Net income attributable to:
Non-controlling interest
2,082
1,524
2,257
728
109.3%
(32.5%)
Net income attributable to equity holders of the Bank
253,358
185,478
181,713
84,859
118.6%
2.1%
1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
Main ratios and other info
Loans
2Q20
3Q20
4Q20
1Q21
2Q21
Consumer loans
5,067,641
4,927,492
4,940,879
4,827,217
4,771,958
Residential mortgage loans
11,930,763
12,103,546
12,411,825
12,676,074
12,971,106
Commercial loans
18,280,832
17,838,247
17,037,536
16,998,782
16,927,183
Interbank loans
8,727
10,813
18,930
5,033
7,643
Total loans (including interbank)
35,287,963
34,880,098
34,409,170
34,507,106
34,677,890
Allowance for loan losses
(978,589)
(1,002,094)
(976,821)
(987,652)
(958,516)
Total loans, net of allowances
34,309,374
33,878,004
33,432,349
33,519,454
33,719,374
Deposits
Demand deposits
12,411,024
13,907,876
14,560,893
15,713,432
17,722,252
Time deposits
14,145,381
11,778,397
10,581,791
10,603,859
11,755,807
Total deposits
26,556,405
25,686,273
25,142,684
26,317,291
29,478,059
Mutual funds (Off balance sheet)
7,788,038
8,328,632
8,091,566
8,149,368
8,300,614
Total customer funds
34,344,443
34,014,905
33,234,250
34,466,659
37,778,673
Loans / Deposits1
93.6%
98.6%
100.3%
96.9%
87.2%
Average balances
Avg. interest earning assets
40,190,322
40,963,069
41,010,000
41,510,046
41,719,093
Avg. Loans
34,775,498
35,015,233
34,680,752
34,358,838
34,375,599
Avg. assets
60,430,179
58,923,964
55,857,850
54,949,433
56,883,770
Avg. demand deposits
11,814,412
13,154,324
14,028,347
14,844,587
16,794,519
Avg equity
3,587,937
3,643,009
3,596,092
3,567,645
3,433,826
Avg. free funds
15,402,349
16,797,333
17,624,439
18,412,232
20,228,346
Capitalization
Risk weighted assets
36,238,926
34,095,749
33,460,744
33,462,867
33,909,159
Tier I (Shareholders' equity)
3,613,823
3,646,910
3,567,916
3,651,387
3,418,271
Tier II
1,666,390
1,510,709
1,575,928
1,014,922
1,046,217
Regulatory capital
5,280,213
5,157,619
5,143,843
5,168,252
4,973,126
Tier I ratio
10.0%
10.7%
10.7%
10.9%
10.1%
BIS ratio
14.6%
15.1%
15.4%
15.4%
14.7%
Profitability & Efficiency
Net interest margin (NIM)2
3.8%
3.7%
4.3%
4.2%
4.2%
Efficiency ratio3
38.9%
41.5%
38.3%
37.6%
37.4%
Costs / assets4
1.3%
1.3%
1.4%
1.4%
1.4%
Avg. Demand deposits / interest earning assets
29.4%
32.1%
34.2%
35.8%
40.3%
Return on avg. equity
9.5%
11.5%
20.4%
20.4%
21.6%
Return on avg. assets
0.6%
0.7%
1.3%
1.3%
1.3%
Return on RWA
0.9%
1.2%
2.2%
2.2%
2.2%
(Ch$ millions)
Asset quality
Jun/20
Sep/20
Dec/20
Mar/21
Jun/21
Impaired loans5
1,875,052
1,845,310
1,789,983
1,764,102
1,691,481
Non-performing loans (NPLs) 6
664,754
543,246
486,435
435,158
446,625
Past due loans7
381,012
354,105
325,044
297,984
284,999
Loan loss reserves
(978,589)
(1,002,094)
(976,821)
(987,652)
(958,516)
Impaired loans / total loans
5.3%
5.3%
5.2%
5.1%
4.9%
NPLs / total loans
1.9%
1.6%
1.4%
1.3%
1.3%
PDL / total loans
1.1%
1.0%
0.9%
0.9%
0.8%
Coverage of NPLs (Loan loss allowance / NPLs)
147.2%
184.5%
200.8%
227.0%
214.6%
Coverage of PDLs (Loan loss allowance / PDLs)
256.8%
283.0%
300.5%
331.4%
336.3%
Risk index (Loan loss allowances / Loans) 8
2.8%
2.9%
2.8%
2.9%
2.8%
Cost of credit (prov expense annualized / avg. loans)
2.2%
1.5%
1.0%
1.0%
1.1%
Network
Total clients
3,461,403
3,509,957
3,607,609
3,762,790
3,893,309
Digital clients
1,339,361
1,488,902
1,546,524
1,723,240
1,867,167
Current account holders (including Superdigital and Life)
1,278,235
1,350,251
1,508,530
1,673,345
1,848,457
Branches
367
365
358
346
344
ATMs
1,104
1,176
1,199
1,222
1,257
Employees
11,028
10,792
10,470
10,391
10,240
Market information (period-end)
Net income per share (Ch$)
0.45
0.56
0.97
0.96
0.98
Net income per ADR (US$)
0.22
0.28
0.55
0.54
0.54
Stock price
33.6
27.3
34.1
45
36.31
ADR price
16.4
13.86
18.99
24.83
19.87
Market capitalization (US$mn)
8,386
6,478
8,946
11,651
9,361
Shares outstanding
188,446
188,446
188,446
188,446
188,446
ADRs (1 ADR = 400 shares)
471
471
471
471
471
Other Data
Quarterly inflation rate9
0.3%
0.0%
1.3%
1.1%
1.1%
Central Bank monetary policy reference rate (nominal)
0.50%
0.50%
0.50%
0.50%
0.50%
Observed Exchange rate (Ch$/US$) (period-end)
821.40
784.33
712.47
718.84
732.08
1. Ratio =(Net Loans - portion of mortgages funded with long-term bonds) / (Time deposits + Demand deposits)
2. NIM = Net interest income annualized divided by interest earning assets
3. Efficiency ratio =(Net interest income+ Net fee and commission income +Financial transactions net + Other operating income +Other operating expenses) divided by (Personnel expenses + Administrative expenses + Depreciation). Excludes impairment charges
5. Impaired loans include: (A) for loans individually evaluated for impairment, (i) the carrying amount of all loans to clients that are rated C1 through C6 and (ii) the carrying amount of loans to an individual client with a loan that is non-performing, regardless of category, excluding residential mortgage loans, if the past-due amount on the mortgage loan is less than 90 days; and (B) for loans collectively evaluated for impairment, (i) the carrying amount of total loans to a client, when a loan to that client is non-performing or has been renegotiated, excluding performing residential mortgage loans, and (ii) if the loan that is non-performing or renegotiated is a residential mortgage loan, all loans to that client.
6. Capital + future interest of all loans with one installment 90 days or more overdue.
7. Total installments plus lines of credit more than 90 days overdue.
8. Based on internal credit models and CMF guidelines. Banks must have a 100% coverage of risk index.
9. Calculated using the variation of the Unidad de Fomento (UF) in the period.
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Banco Santander-Chile published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 12:28:08 UTC.
Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank's segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations. The Global Corporate Banking segment consists of foreign and domestic multinational companies. The Corporate Activities segment includes its Financial Management Division, which develops global management functions. It provides a range of commercial and retail banking services to its customers, including Chilean peso and foreign currency denominated loans to finance a range of commercial transactions, trade, foreign currency forward contracts and credit lines and a range of retail banking services, including mortgage financing. In addition to its traditional banking operations, the Bank offers a range of financial services.