SANTIAGO, Chile, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Banco Santander Chile (NYSE:BSAC, SSE: Bsantander)) announced today its results1 for the nine-month period ended September 30, 2025, and third quarter 2025 (3Q25).
Solid financial performance with a ROAE2 of 24.0% in 9M253
As of September 30, 2025, the Bank's net income attributable to shareholders totaled $798 billion ($4.23 per share and $1.76 per ADR), representing a 37.3% increase YoY4, with an ROAE of 24.0% in 9M25 compared to a ROAE of 18.2% in 9M245. The increase in results is explained by growth in the Bank's main revenue lines. Operating income increased 14.8% YoY, driven by a better interest and readjustment margin and higher fees and results from financial transactions.
Strong recovery of NIM6, reaching 4.0% in 9M25
Net interest income and readjustments (NII) accrued as of September 30, 2025, increased 16.6% compared to the same period in 2024. This increase in NII was due to higher net interest income due to the impact of a lower monetary policy rate on our funding cost, which fell from 4.8% to 3.8% in 9M25. As a result, the NIM improved from 3.4% in 9M24 to 4.0% in 9M25.
The customer base continues to expand, with a 8.7% YoY increase in total customers..
Our strategy of strengthening digital products has led to continued growth in our customer base, reaching approximately 4.6 million customers, of which nearly 2.3 million are digital customers (87% of our active customers).
The Bank's market share in checking accounts remains strong at 22.1% as of August 2025, driven by increased customer demand for US dollar checking accounts, as customers can open this type of account digitally through our platform in a few easy steps. This also demonstrates the success of Getnet's strategy to encourage cross-selling of other products, such as checking accounts, to SMEs
Net commissions increased by 8.0% in 9M25, reaching recurrence levels7 of 62.1%.
Net commissions increased 8.0% in the nine months ended September 30, 2025, compared to the same period in 2024, driven by increased customer numbers and greater product usage. As a result, the recurrence ratio (total net commissions divided by structural support expenses) increased from 60.0% as of September 2024 to 62.1% as of September 2025, demonstrating that more than half of the Bank's expenses are funded by commissions generated by our customers.
Best in Class efficiency8 of 35.9% in 9M25.
The Bank's efficiency ratio reached 35.9% as of September 30, 2025, better than the 40.0% recorded in the same period last year. Total operating expenses (which include other expenses) increased 3.1% in 9M25 compared to 9M24, driven by administrative expenses primarily related to higher technology expenses in the first quarter, as well as other expenses related to the restructuring of our branch network and the transformation to Work/Cafés.
Solid CET1 ratio9 of 10.8%.
Our CET1 ratio remains at a solid 10.8% at the end of September 2025, and the overall Basel III ratio stands at 16.7%. The Bank's capital includes a dividend payout provision for 60% of 2025 earnings to date.
Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody's, A- from Standard & Poor's, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.
As of September 30, 2025, the Bank had total assets of $68,240,207 million (US$73,258 million), total gross loans (including interbank loans) at amortized cost of $40,988,278 million (US$44,002 million), total deposits of $29,356,420 million (US$31,515 million), and shareholders' equity of $4,592,379 million (US$4,930 million). The BIS capital ratio was 16.7%, with a core capital ratio of 10.8%. As of September 30, 2025, Santander Chile employed 8,583 people and had 231 branches throughout Chile.
CONTACT INFORMATION
Cristian Vicuña
Chief Strategy Officer and Head of Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Email: [email protected] Website: www.santander.cl
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1 The information contained in this report is presented in accordance with Chilean Bank GAAP as defined by the Financial Markets Commission (FMC).
2 Annualized net income attributable to owners of the Bank divided by the average equity attributable to equity holders.
3 The nine months ending September 2025.
4 Year over year.
5 The nine months ending September 30, 2024.
6 NIM: Net interest margin. Annualized net interest and readjustment income divided by average interest-earning assets.
7 Recurrence: net commissions divided by core support costs.
8 Operating expenses including impairment and other operating expenses/margin+fees+financial trx and other net operating income.
9 Common Equity Tier 1 divided by risk-weighted assets under Chilean regulation.
