Banco Santander-Chile (BSANTANDER) Q4 2025 earnings summary

Executive summary

• Net income reached CLP 1,053 billion in 2025, up 23% year-over-year, with ROE/ROAE at 23.5% and efficiency ratio at 36%.

• Client base expanded to 4.6 million, with 58% active and 2.3 million digital clients monthly; digital transformation and client-centric strategy drove growth.

• Strategic focus on digital transformation, operational efficiency, and fee-based income growth.

• Recognized as best bank in Chile by multiple international publications and improved ESG ratings.

• Successful $500 million five-year bond issuance at 4.55% in early 2026.

Financial highlights

• Net interest income, including readjustment, rose 11% year-over-year; NIM improved to 4.0%.

• Fee income grew 9%, financial transactions up 8.5%, and mutual funds increased 7%.

• Recurrence ratio reached 63.7%, with fee income now 21% of total revenues.

• Operating expenses grew 1.6% for the year, with a temporary increase due to cloud migration; efficiency ratio improved by 299bp to 36%.

• CET1 capital ratio at 11%, with a 60% payout of 2025 income provisioned for dividends.

Outlook and guidance

• 2026 GDP growth expected at 2.4%, with loan growth guidance at mid-single digits (5-6%).

• ROE/ROAE guidance for 2026 set at 22%-24%.

• NIM expected to remain at 4%, with mid to high single-digit growth in fees and financial transactions.

• Cost of risk projected to improve to 1.3% for 2026.

• Efficiency ratio to remain in the mid-30s.