Banco Santander-Chile (BSANTANDER) Q2 2025 earnings summary

Executive summary

• Net income reached CLP 550 billion in 1H25, up 62.8% YoY, with ROE/ROAE at 25.1% for 6M25 and 24.5% in Q2, marking five consecutive quarters above 20%.

• Efficiency ratio improved to 35.3% in 6M25, reflecting cost controls and digital transformation.

• Customer base expanded to 4.5 million, with digital clients up to 2.3 million and 87% of active clients now digital.

• Recognized for sustainability, ESG, and awarded Best Bank in Chile by Euromoney.

• Maintained a diversified banking model, with 57% of loans to individuals and 43% to companies.

Financial highlights

• Net interest income rose 26.0% YoY to CLP 1,033,547 million in 6M25, with NIM at 4.1%, up 101bp YoY.

• Fee income increased 13.2% YoY, and financial transaction results grew 23.8%.

• Operating expenses grew 2.3% YoY, supporting improved efficiency.

• Cost of risk at 1.39% YTD, with NPL ratio at 3.0% and coverage at 105.4%.

• Total loans grew 1.0% YoY, with consumer loans up 3.4% and credit cards up 10.4%.

Outlook and guidance

• Loan growth expected in low single digits for 2025 due to muted demand and election uncertainty.

• NIM projected around 4% for 2025 and into 2026.

• ROE/ROAE guidance for 2025 in the 21–23% range, with long-term ROE expected above 20%.

• Cost of risk expected to normalize toward 1.2–1.3% in the medium term.

• Commissions and financial transactions anticipated to grow at high single digits.