Banco Santander-Chile (BSANTANDER) Q3 2025 earnings summary

Executive summary

• Net income reached CLP 798 billion in the first nine months of 2025, up 37.3% year-over-year, with ROE/ROAE at 24% and efficiency ratio at 35.9%.

• Digital transformation and client base expansion drove fee income growth and improved income mix, with 4.6 million clients, 2.3 million digital, and 59% active.

• Recognized as the most efficient bank in Chile, awarded for excellence and ESG performance, and included in major sustainability indices.

Financial highlights

• Net interest income rose 16.6% year-over-year to CLP 1,512 billion; NIM at 4.0% year-to-date.

• Fee income increased 8% YoY, financial transactions up 19%, and mutual funds grew 15% YoY.

• Operating costs grew below inflation, with core expenses down 3.4% in Q3 and overall expenses up 2.7% YoY.

• Efficiency ratio improved to 35.9%, best in the Chilean industry for 2025.

• Cost of risk/credit at 1.39% year-to-date, with NPL ratio stable at 3.1%.

Outlook and guidance

• 2025 guidance: low single-digit loan growth, NIM around 4%, efficiency in mid-30s, cost of risk/credit near 1.35%, and ROE/ROAE ~23%.

• 2026 guidance: mid-single-digit loan growth, NIM ~4%, efficiency in mid-30s, cost of risk/credit ~1.3%, ROE/ROAE 22–24%.

• Guidance does not include potential impact from further interchange fee reductions.