Banco Santander-Chile Announces First Quarter 2026 Earnings

SANTIAGO, Chile, April 30, 2026 (GLOBE NEWSWIRE) -- Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its results¹ for the three-month period ended March 31, 2026, and first quarter 2026 (1Q26).

Solid financial performance with a ROAE² of 23.0% in 3M26³ and profit growth of 7.0% in the quarter, in an environment of lower inflation.

As of March 31, 2026, net income attributable to shareholders totalled $273 billion ($1.45 per share and US$0.63 per ADR). Compared to the prior quarter (4Q25), net income attributable to shareholders increased 7.0% QoQ⁴, primarily due to higher financial transaction and fee income, as well as lower other expenses, partially offset by a weaker margin due to a lower inflation environment. As a result, ROAE increased from 21.9% in 4Q25 to 23.0% in 1Q26⁵.

Compared to the same period of the previous year, net income attributable to shareholders showed a slight decrease of 1.7%, and ROAE was 25.7% in 3M25⁶ versus 23.0% in 3M26, mainly due to the impact of lower inflation on the readjustment income line (margin), as the UF variation was 0.3% in 3M26 compared to 1.2% in 3M25. This was offset by a 4.5% YoY⁷ in commissions, higher results from financial transactions, and good expense control.

Furthermore, at the shareholders' meeting in April 2026, it was agreed to distribute 60% of the 2025 profits as cash dividends. This represents a dividend of $3.35 per share with a yield of 4.5% (as of the date of approval). The Bank maintains a solid CET1 ratio⁸ of 10.9% with a BIS ratio⁹ of 16.4% as of the end of March 2026.

The expansion of the customer base continues, with total customers increasing by 9.7%YoY. Our strategy of strengthening digital products has led to continuous growth in our customer base, reaching almost 4.8 million customers, of which 2.7 million are active customers.

The Bank's market share in current accounts remains strong at 21.2% as of February 2026, driven by increased customer demand for US dollar current accounts, as customers can open these accounts digitally through our platform in just a few simple steps. This also demonstrates the success of Getnet's strategy to promote cross-selling of other products, such as current accounts for SMEs.

Net fees increased 4.5% in 3M26, reaching recurrence levels¹⁰ of 68.9%.

Net fee income increased by 4.5% in the three months ending March 31, 2026, compared to the same period in 2025, driven by an increase in customers and greater product usage. As a result, the recurrence ratio (total net fees divided by structural support expenses) increased from 61.8% YTD¹¹ to March 2025 to 68.9% YTD to March 2026, demonstrating that more than two-thirds of the Bank's expenses are financed by commissions generated by our customers.

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