Banco Santander Chile (FRA:BSA)

Q4 2024 Banco Santander-Chile Earnings Call Transcript

Feb 7, 2025 / 04:00 PM GMT

Release Date Price: €21 (+3.96%)

Transcript

Key Points

Positve

Banco Santander Chile (BSAC) reported a net profit of 865 billion Pesos for 2024, a 73% increase compared to 2023.
The bank's return on average equity improved to 20.2% for the year, with the fourth quarter reaching 26%.
Total deposits increased by 5.9% in the fourth quarter, improving the loan to deposit ratio by over 10 percentage points in two years.
The bank received significant recognition in 2024, being named Best Bank in Chile by Latin Finance and Euromoney.
Banco Santander Chile (BSAC) successfully migrated its legacy system to the cloud, enhancing digital transformation and platform performance.

Negative

Non-performing loans have been increasing over the year, particularly in mortgage and commercial loan books.
The bank's cost of risk was 1.3%, with asset quality ratios affected by weaker loan growth.
Fee income decreased by 5.2% quarter on quarter due to lower collection fees and insurance brokerage.
The bank set aside provisions for restructuring its branch network and operational risks, impacting total operating expenses.
The effective tax rate may increase as inflation realigns to the central bank's target.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BSANTANDER.SN - Banco Santander-Chile
Q4 2024 Banco Santander-Chile Earnings Call
Feb 07, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by and I'd like to welcome you to Banco. Santander Chile's fourth quarter, 2024 earnings conference call on the 7th of February 2025. Please note that this point, all participant lines are in mute only mode after the call, there'll be a, be an opportunity to ask questions. So with this, I would now like to pass the line to Mr Christian Vicuna, the Chief of Strategic Planning and Investor Relations. Please go ahead, sir.

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Unidentified_2 [2]
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Good morning, everyone. Welcome to Bank of Santander Chile,

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