Item
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|
1.
|
2Q2010
Earnings Release
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2.
|
1H
2010 Financial Statements (Spanish)
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3.
|
Translated
Material Event
|
Investor
Relations Department
|
0
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
SECTION
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PAGE
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SECTION
1: SUMMARY OF RESULTS
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2
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SECTION
2: BALANCE SHEET ANALYSIS
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7
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SECTION
3: ANALYSIS OF QUARTERLY INCOME STATEMENT
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10
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SECTION
4: CREDIT RISK RATINGS
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17
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SECTION
5: SHARE PERFORMANCE
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18
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SECTION
6: INSTITUTIONAL BACKGROUND
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19
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ANNEX
1: BALANCE SHEET
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20
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ANNEX
2: YEAR TO DATE INCOME STATEMENT
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21
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ANNEX
3: QUARTERLY INCOME STATEMENTS
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22
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ANNEX
4: QUARTERLY EVOLUTION OF MAIN RATIOS AND OTHER
INFORMATION
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23
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CONTACT INFORMATION
Robert Moreno
Manager, Investor Relations Department
Banco Santander Chile
Bandera 140 Piso 19
|
Santiago, Chile
Tel: (562) 320-8284
Fax: (562) 671-6554
Email: rmorenoh@santander.cl
Website: www.santander.cl
|
Investor
Relations Department
|
1
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Investor
Relations Department
|
2
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Investor
Relations Department
|
3
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Investor
Relations Department
|
4
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
(Ch$ million)
|
2Q10
|
YoY Chg.
|
QoQ Chg.
|
|||||||||
Net
interest income
|
242,782 | 7.1 | % | 5.8 | % | |||||||
Fee
income
|
65,158 | 3.2 | % | 4.5 | % | |||||||
Financial
transactions
|
25,041 | -15.6 | % | -15.3 | % | |||||||
Provision
expense
|
(55,952 | ) | -41.7 | % | -20.3 | % | ||||||
Operating
expenses
|
(117,987 | ) | 13.3 | % | 13.5 | % | ||||||
Gross
income, net of provisions & costs
|
159,042 | 33.3 | % | 8.1 | % | |||||||
Other
operating and non-operating income, net*
|
(20,219 | ) | 70.1 | % | -27.9 | % | ||||||
Net
income attributable to shareholders
|
138,823 | 29.3 | % | 16.6 | % |
*
|
Includes
Other operating income, Other operating expenses, income attributable to
investments in other companies, income tax and net of minority
interest.
|
(Ch$ million)
|
1H10
|
YoY Chg.
|
||||||
Net
interest income
|
472,180 | 14.1 | % | |||||
Fee
income
|
127,509 | 2.2 | % | |||||
Financial
transactions
|
54,614 | -44.5 | % | |||||
Provision
expense
|
-126,139 | -32.5 | % | |||||
Operating
expenses
|
-221,986 | 9.7 | % | |||||
Gross
income, net of provisions & costs
|
306,178 | 23.6 | % | |||||
Other
operating and non-operating income, net*
|
-48,251 | -24.3 | % | |||||
Net
income attributable to shareholders
|
257,927 | 40.1 | % |
*
|
Includes
Other operating income, Other operating expenses, income attributable to
investments in other companies, income tax and net of minority
interest.
|
Investor
Relations Department
|
5
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Quarter
|
Change %
|
|||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Net
interest income
|
242,782 | 229,398 | 226,611 | 7.1 | % | 5.8 | % | |||||||||||||
Fee
income
|
65,158 | 62,351 | 63,145 | 3.2 | % | 4.5 | % | |||||||||||||
Core
revenues
|
307,940 | 291,749 | 289,756 | 6.3 | % | 5.5 | % | |||||||||||||
Financial
transactions, net
|
25,041 | 29,573 | 29,656 | (15.6 | )% | (15.3 | )% | |||||||||||||
Other
operating income, net
|
19,951 | 6,065 | 2,928 | 581.4 | % | 229.0 | % | |||||||||||||
Provision
expense
|
(55,952 | ) | (70,187 | ) | (96,037 | ) | (41.7 | )% | (20.3 | )% | ||||||||||
Operating
expenses
|
(117,987 | ) | (103,999 | ) | (104,099 | ) | 13.3 | % | 13.5 | % | ||||||||||
Gross
income, net of provisions & costs
|
159,042 | 147,136 | 119,276 | 33.3 | % | 8.1 | % | |||||||||||||
Other
operating & Non-op. Income 1
|
(20,219 | ) | (28,032 | ) | (11,885 | ) | 70.1 | % | (27.9 | )% | ||||||||||
Net
income attributable to shareholders
|
138,823 | 119,104 | 107,391 | 29.3 | % | 16.6 | % | |||||||||||||
Net
income/share (Ch$)
|
0.74 | 0.63 | 0.57 | 29.3 | % | 16.6 | % | |||||||||||||
Net
income/ADR (US$) 2
|
1.41 | 1.25 | 1.12 | 25.9 | % | 13.0 | % | |||||||||||||
Total
loans
|
14,582,467 | 14,043,570 | 13,401,486 | 8.8 | % | 3.8 | % | |||||||||||||
Customer
funds
|
14,874,748 | 14,344,713 | 14,769,070 | 0.7 | % | 3.7 | % | |||||||||||||
Shareholders’
equity
|
1,665,326 | 1,683,104 | 1,497,019 | 11.2 | % | (1.1 | )% | |||||||||||||
Net
interest margin
|
6.1 | % | 5.8 | % | 6.0 | % | ||||||||||||||
Efficiency
ratio
|
35.2 | % | 33.0 | % | 31.5 | % | ||||||||||||||
Return
on average equity 3
|
33.8 | % | 28.6 | % | 28.7 | % | ||||||||||||||
NPL
/ Total loans 4
|
2.8 | % | 2.7 | % | 3.1 | % | ||||||||||||||
Coverage
NPLs
|
93.3 | % | 97.1 | % | 75.7 | % | ||||||||||||||
PDL
/ Total loans 5
|
1.4 | % | 1.4 | % | 1.4 | % | ||||||||||||||
Coverage
ratio of PDLs
|
193.3 | % | 189.8 | % | 173.0 | % | ||||||||||||||
Risk
Index 6
|
2.7 | % | 2.7 | % | 2.3 | % | ||||||||||||||
BIS
ratio
|
14.1 | % | 14.7 | % | 15.0 | % | ||||||||||||||
Branches
|
499 | 498 | 501 | |||||||||||||||||
ATMs
|
1,871 | 1,856 | 1,929 | |||||||||||||||||
Employees
|
11,133 | 11,155 | 11,391 |
1.
|
Includes
Other operating income, Other operating expenses, income attributable to
investments in other companies, income tax and net of minority
interest.
|
2.
|
The
change in earnings per ADR may differ from the change in earnings per
share due to the exchange rate. Earnings per ADR was calculated using an
exchange rate of Ch$543.09 per US$.
|
3.
|
Annualized
quarterly Net income attributable to shareholders / Average equity
attributable to shareholders.
|
4.
|
NPL:
Non-performing loans, full balance of loans with one installment 90 days
or more overdue.
|
5.
|
PDL:
Past due loans, all installments and lines of credit more than 90 days
overdue.
|
6.
|
Risk
Index: Loan loss allowances over total loans, measures how much the Bank
expects to loose on its loan book, according to its internal models and
the Superintendency of Banks guidelines. Banks must have 100% coverage of
the Risk Index.
|
Investor
Relations Department
|
6
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Loans
|
Quarter ended,
|
% Change
|
||||||||||||||||||
(Ch$ million)
|
Jun-10
|
Mar-10
|
Jun-09
|
June 10/ 09
|
June 10 /
Mar. 10
|
|||||||||||||||
Total
loans to individuals1
|
7,715,031 | 7,411,686 | 6,815,737 | 13.2 | % | 4.1 | % | |||||||||||||
Consumer
loans
|
2,404,128 | 2,303,983 | 2,121,045 | 13.3 | % | 4.3 | % | |||||||||||||
Residential
mortgage loans
|
4,360,496 | 4,219,733 | 3,970,896 | 9.8 | % | 3.3 | % | |||||||||||||
SMEs
|
2,210,170 | 2,143,885 | 2,097,592 | 5.4 | % | 3.1 | % | |||||||||||||
Institutional
lending
|
330,980 | 313,079 | 291,867 | 13.4 | % | 5.7 | % | |||||||||||||
Total
retail lending
|
10,256,181 | 9,868,650 | 9,205,196 | 11.4 | % | 3.9 | % | |||||||||||||
Middle-Market
& Real estate
|
2,983,741 | 2,907,944 | 2,779,165 | 7.4 | % | 2.6 | % | |||||||||||||
Corporate
|
1,347,855 | 1,279,965 | 1,266,310 | 6.4 | % | 5.3 | % | |||||||||||||
Total
loans 2,3
|
14,582,467 | 14,043,570 | 13,401,486 | 8.8 | % | 3.8 | % |
1.
|
Includes
consumer loans, residential mortgage loans and other loans to
individuals
|
2.
|
Total
loans gross of loan loss allowances. Total loans include other
non-segmented loans and exclude interbank
loans.
|
Investor
Relations Department
|
7
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
(Ch$ million)
|
Jun-10
|
Mar-10
|
Jun-09
|
June 10/ 09
|
June 10 /
Mar. 10
|
|||||||||||||||
Demand
deposits
|
4,168,884 | 3,890,230 | 3,083,814 | 35.2 | % | 7.2 | % | |||||||||||||
Time
deposits
|
7,193,376 | 6,818,939 | 8,342,396 | (13.8 | )% | 5.5 | % | |||||||||||||
Total
customer deposits
|
11,362,260 | 10,709,169 | 11,426,210 | (0.6 | )% | 6.1 | % | |||||||||||||
Mutual
funds
|
3,512,488 | 3,635,544 | 3,342,860 | 5.1 | % | (3.4 | )% | |||||||||||||
Total
customer funds
|
14,874,748 | 14,344,713 | 14,769,070 | 0.7 | % | 3.7 | % | |||||||||||||
Loans
to deposits*
|
99.8 | % | 104.3 | % | 94.3 | % | ||||||||||||||
Bonds
|
3,245,162 | 2,872,100 | 2,622,275 | 23.8 | % | 13.0 | % |
*
|
(Loans
- marketable securities that fund mortgage portfolio) / (Time deposits +
demand deposits).
|
Investor
Relations Department
|
8
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Quarter
|
Change %
|
|||||||||||||||||||
(Ch$ million)
|
Jun-10
|
Mar-10
|
Jun-09
|
June 10/ 09
|
June 10 /
Mar. 10
|
|||||||||||||||
Capital
|
891,303 | 891,303 | 891,303 | 0.0 | % | 0.0 | % | |||||||||||||
Reserves
|
51,538 | 51,539 | (16,960 | ) | (403.9 | )% | (0.0 | )% | ||||||||||||
Unrealized
gain (loss) Available-for-sale financial assets
|
(18,193 | ) | (32,620 | ) | (14,199 | ) | 28.1 | % | (44.2 | )% | ||||||||||
Retained
Earnings:
|
740,678 | 772,882 | 636,875 | 16.3 | % | (4.2 | )% | |||||||||||||
Retained
earnings previous periods
|
560,129 | 818,885 | 508,045 | 10.3 | % | (31.6 | )% | |||||||||||||
Net
income
|
257,927 | 119,104 | 184,043 | 40.1 | % | 116.6 | % | |||||||||||||
Provision
for mandatory dividend
|
(77,378 | ) | (165,107 | ) | (55,213 | ) | 40.1 | % | (53.1 | )% | ||||||||||
Minority
Interest
|
28,460 | 29,942 | 30,920 | (8.0 | )% | (4.9 | )% | |||||||||||||
Total
Equity
|
1,693,786 | 1,713,046 | 1,527,939 | 10.9 | % | (1.1 | )% | |||||||||||||
Equity
attributable to shareholders
|
1,665,326 | 1,683,104 | 1,497,019 | 11.2 | % | (1.1 | )% | |||||||||||||
ROAE
|
33.8 | % | 28.1 | % | 28.7 | % |
Capital Adequacy
|
Quarter ended
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
Jun-10
|
Mar-10
|
Jun-09
|
June 10/ 09
|
June 10 /
Mar. 10
|
|||||||||||||||
Tier
I
|
1,665,326 | 1,683,103 | 1,497,019 | 11.2 | % | (1.1 | )% | |||||||||||||
Tier
II
|
627,608 | 599,353 | 535,978 | 17.1 | % | 4.7 | % | |||||||||||||
Regulatory
capital
|
2,292,934 | 2,282,455 | 2,032,997 | 12.8 | % | 0.5 | % | |||||||||||||
Risk
weighted assets
|
16,210,259 | 15,513,732 | 13,544,319 | 19.7 | % | 4.5 | % | |||||||||||||
Tier
I ratio
|
10.3 | % | 10.8 | % | 11.1 | % | ||||||||||||||
BIS
ratio
|
14.1 | % | 14.7 | % | 15.0 | % |
Investor
Relations Department
|
9
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Quarter
|
Change %
|
|||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Net
interest income
|
242,782 | 229,398 | 226,611 | 7.1 | % | 5.8 | % | |||||||||||||
Average
interest-earning assets
|
15,816,902 | 15,776,237 | 15,147,554 | 4.4 | % | 0.3 | % | |||||||||||||
Average
loans
|
14,291,144 | 13,879,173 | 13,733,919 | 4.1 | % | 3.0 | % | |||||||||||||
Net
interest margin (NIM) 1
|
6.1 | % | 5.8 | % | 6.0 | % | ||||||||||||||
Avg.
equity + non-interest bearing demand deposits / Avg. interest
earning assets
|
36.4 | % | 33.9 | % | 30.3 | % | ||||||||||||||
Quarterly
inflation rate 2
|
0.97 | % | 0.27 | % | (0.13 | )% | ||||||||||||||
Avg.
overnight interbank rate (nominal)
|
0.51 | % | 0.40 | % | 1.40 | % | ||||||||||||||
Avg.
10 year Central Bank yield (real)
|
3.04 | % | 3.14 | % | 2.86 | % |
1.
|
Annualized.
|
2.
|
Inflation
measured as the variation of the Unidad de Fomento in the
quarter.
|
Investor
Relations Department
|
10
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Quarter
|
Change %
|
|||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 /
2Q09
|
2Q / 1Q 10
|
|||||||||||||||
(14,012 | ) | (26,002 | ) | (19,402 | ) | (27.8 | )% | (46.1 | )% | |||||||||||
Charge-offs
|
(49,506 | ) | (52,158 | ) | (87,392 | ) | (43.4 | )% | (5.1 | )% | ||||||||||
Gross
provisions and charge-offs
|
(63,518 | ) | (78,160 | ) | (106,794 | ) | (40.5 | )% | (18.7 | )% | ||||||||||
Loan
loss recoveries
|
7,566 | 7,973 | 10,757 | (29.7 | )% | (5.1 | )% | |||||||||||||
Net
provisions for loan losses
|
(55,952 | ) | (70,187 | ) | (96,037 | ) | (41.7 | )% | (20.3 | )% | ||||||||||
Total
loans 1
|
14,582,467 | 14,043,570 | 13,401,486 | 8.8 | % | 3.8 | % | |||||||||||||
Total
reserves (RLL)
|
(387,624 | ) | (374,064 | ) | (314,191 | ) | 23.4 | % | 3.6 | % | ||||||||||
Past
due loans 2
(PDL)
|
200,524 | 197,060 | 181,645 | 10.4 | % | 1.8 | % | |||||||||||||
Non-performing
loans 3
(NPLs)
|
415,556 | 385,211 | 415,311 | 0.1 | % | 7.9 | % | |||||||||||||
Gross
provision expense / Loans
|
1.74 | % | 2.23 | % | 3.19 | % | ||||||||||||||
Cost
of credit 4
|
1.53 | % | 2.00 | % | 2.87 | % | ||||||||||||||
PDL
/ Total loans
|
1.38 | % | 1.40 | % | 1.36 | % | ||||||||||||||
Coverage
of past due loans 5
|
193.3 | % | 189.8 | % | 173.0 | % | ||||||||||||||
Risk
Index (RLL / Total loans)
|
2.66 | % | 2.66 | % | 2.34 | % | ||||||||||||||
NPL
/ Total loans
|
2.85 | % | 2.74 | % | 3.10 | % | ||||||||||||||
Coverage
of NPLs 6
|
93.3 | % | 97.1 | % | 75.7 | % |
1.
|
Excludes
interbank loans.
|
2.
|
PDLs:
All installments and lines of credit more than 90 days
overdue.
|
3.
|
NPL:
Non-performing loans: Full balance of loans with one installment 90 days
or more overdue.
|
4.
|
Cost
of credit: Net provision expense, annualized /
Loans.
|
5.
|
Coverage
PDLs:: RLL / PDLs.
|
6.
|
Coverage
NPL: RLL / NPLs.
|
Net provisions for loan losses by
segment
|
Quarter
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Commercial
loans*
|
(15,264 | ) | (23,231 | ) | (13,612 | ) | 12.1 | % | (34.3 | )% | ||||||||||
Residential
mortgage loans
|
(4,021 | ) | (5,197 | ) | (3,096 | ) | 29.9 | % | (22.6 | )% | ||||||||||
Consumer
loans
|
(36,667 | ) | (41,759 | ) | (79,329 | ) | (53.8 | )% | (12.2 | )% | ||||||||||
Net
provisions for loan losses
|
(55,952 | ) | (70,187 | ) | (96,037 | ) | (41.7 | )% | (20.3 | )% |
*
|
Includes
net provision expenses for interbank loans and off-balance sheet
contingent loans.
|
Investor
Relations Department
|
11
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Investor
Relations Department
|
12
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Fee Income
|
Quarter
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Collection
fees
|
14,236 | 13,812 | 16,552 | (14.0 | )% | 3.1 | % | |||||||||||||
Credit,
debit & ATM card fees
|
13,353 | 14,351 | 11,950 | 11.7 | % | (7.0 | )% | |||||||||||||
Checking
accounts & lines of credit
|
10,470 | 11,265 | 13,116 | (20.2 | )% | (7.1 | )% | |||||||||||||
Asset
management
|
9,657 | 9,391 | 7,495 | 28.8 | % | 2.8 | % | |||||||||||||
Insurance
brokerage
|
8,962 | 5,106 | 4,719 | 89.9 | % | 75.5 | % | |||||||||||||
Guarantees,
pledges and other contingent operations
|
5,954 | 5,829 | 5,923 | 0.5 | % | 2.1 | % | |||||||||||||
Fees
from brokerage of securities
|
2,098 | 1,906 | 1,766 | 18.8 | % | 10.1 | % | |||||||||||||
Other
Fees
|
428 | 691 | 1,624 | (73.6 | )% | (38.1 | )% | |||||||||||||
Total
fees
|
65,158 | 62,351 | 63,145 | 3.2 | % | 4.5 | % |
Investor
Relations Department
|
13
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Operating Expenses
|
Quarter
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Personnel
expenses
|
(66,002 | ) | (55,589 | ) | (57,701 | ) | 14.4 | % | 18.7 | % | ||||||||||
Administrative
expenses
|
(35,707 | ) | (36,053 | ) | (34,258 | ) | 4.2 | % | (1.0 | )% | ||||||||||
Depreciation
and amortization
|
(12,592 | ) | (12,341 | ) | (12,140 | ) | 3.7 | % | 2.0 | % | ||||||||||
Impairment
|
(3,686 | ) | (16 | ) | 0 | — | % | 22937.5 | % | |||||||||||
Operating
expenses
|
(117,987 | ) | (103,999 | ) | (104,099 | ) | 13.3 | % | 13.5 | % | ||||||||||
Efficiency
ratio*
|
35.2 | % | 33.0 | % | 31.5 | % |
*
|
Operating
expenses / Operating income. Operating income = Net interest
income + Net fee income+ Financial transactions net + other operating
income and expenses.
|
Investor
Relations Department
|
14
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Net Results from Financial Transactions*
|
Quarter
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Net
gains from mark-to-market and trading
|
44,922 | 52,092 | (18,863 | ) | (338.1 | )% | (13.8 | )% | ||||||||||||
Exchange
differences, net
|
(19,881 | ) | (22,519 | ) | 48,519 | (141.0 | )% | (11.7 | )% | |||||||||||
Net
results from financial transactions
|
25,041 | 29,573 | 29,656 | (15.6 | )% | (15.3 | )% |
*
|
These
results mainly include the mark-to-market of the available for sale
investment portfolio, realized and unrealized gains of financial
investments held for trading, the interest revenue generated by the held
for trading portfolio, gains or losses from the sale of charged-off loans
and the mark-to-market of derivatives. The results recorded as Exchange
differences, net mainly includes the translation gains or losses of assets
and a liability denominated in foreign
currency.
|
Net Results from Financial Transactions
|
Quarter
|
Change %
|
||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Santander
Global Connect 1
& Market making 2
|
26,169 | 19,290 | 18,374 | 42.4 | % | 35.7 | % | |||||||||||||
Financial
Management (ALCO) & Prop. trading
|
(1,128 | ) | 10,283 | 11,282 | — | % | — | % | ||||||||||||
Net
results from financial transactions
|
25,041 | 29,573 | 29,656 | (15.6 | )% | (15.3 | )% |
1.
|
Santander
Global Connect is the Bank’s commercial platform for selling treasury
products to our clients.
|
2.
|
This
line item also includes the gain or loss from the sale of charged-off
loans.
|
Investor
Relations Department
|
15
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Quarter
|
Change %
|
|||||||||||||||||||
(Ch$ million)
|
2Q10
|
1Q10
|
2Q09
|
2Q10 / 2Q09
|
2Q / 1Q 10
|
|||||||||||||||
Other
operating income
|
19,951 | 6,065 | 2,928 | 581.4 | % | 229.0 | % | |||||||||||||
Other
operating expenses
|
(17,648 | ) | (12,556 | ) | 7,821 | — | % | 40.6 | % | |||||||||||
Other
operating income, net
|
2,303 | (6,491 | ) | 10,749 | (78.6 | )% | — | % | ||||||||||||
Income
attributable to investments in other companies
|
223 | 120 | 440 | (49.3 | )% | 85.8 | % | |||||||||||||
Income
tax
|
(24,163 | ) | (21,760 | ) | (21,816 | ) | 10.8 | % | 11.0 | % | ||||||||||
Income
tax rate
|
15.0 | % | 15.5 | % | 16.7 | % |
Investor
Relations Department
|
16
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Moody’s
|
Rating
|
|
Foreign
currency bank deposits
|
Aa3
|
|
Senior
bonds
|
Aa3
|
|
Subordinated
debt
|
A1
|
|
Bank
Deposits in Local Currency
|
Aa3
|
|
Bank
financial strength
|
B-
|
|
Short-term
deposits
|
P-1
|
Standard
and Poor’s
|
Rating
|
|
Long-term
Foreign Issuer Credit
|
A+
|
|
Long-term
Local Issuer Credit
|
A+
|
|
Short-term
Foreign Issuer Credit
|
A-1
|
|
Short-term
Local Issuer Credit
|
A-1
|
Fitch
|
Rating
|
|
Foreign
Currency Long-term Debt
|
A+
|
|
Local
Currency Long-term Debt
|
A+
|
|
Foreign
Currency Short-term Debt
|
F1
|
|
Local
Currency Short-term Debt
|
F1
|
|
Individual
rating
|
B
|
Local ratings
|
Fitch
Ratings
|
Feller
Rate
|
||
Shares
|
Level
2
|
1CN1
|
||
Short-term
deposits
|
N1+
|
Level
1+
|
||
Long-term
deposits
|
AAA
|
AAA
|
||
Mortgage
finance bonds
|
AAA
|
AAA
|
||
Senior
bonds
|
AAA
|
AAA
|
||
Subordinated
bonds
|
AA
|
AA+
|
||
Outlook
|
Stable
|
Stable
|
Investor
Relations Department
|
17
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
06/30/10:
|
67.09 | |||
Maximum
(2010):
|
71.88 | |||
Minimum
(2010):
|
59.40 | |||
P/E
12 month trailing*:
|
12.5 | |||
P/BV
(06/30/10)**:
|
4.04 | |||
Dividend
yield***:
|
3.9 | % |
*
|
Price
as of June 30 / 12mth
Earnings
|
**
|
Price
as of June 30 / Book value as of
06/30/10
|
***
|
Based
on closing price on record date of last dividend
payment.
|
06/30/10:
|
35.67 | |||
Maximum
(2010):
|
36.36 | |||
Minimum
(2010):
|
30.74 |
Year paid
|
Ch$/share
|
% of previous year
earnings
|
||||||
2006:
|
0.83 | 65 | % | |||||
2007:
|
0.99 | 65 | % | |||||
2008:
|
1.06 | 65 | % | |||||
2009:
|
1.13 | 65 | % | |||||
2010:
|
1.37 | 60 | % |
Investor
Relations Department
|
18
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Investor
Relations Department
|
19
|
Bandera
140 19th
Floor, Santiago, Chile, Tel: 562-320-8284, fax:
562-671-6554,
|
|
email:
rmorenoh@santander.cl
|
Unaudited Balance Sheet
|
Jun-10
|
Jun-10
|
Mar-10
|
Jun-09
|
June 10/ 09
|
June / Mar. 10
|
||||||||||||||||||
US$ths
|
Ch$mn
|
% Chg.
|
||||||||||||||||||||||
Assets
|
||||||||||||||||||||||||
Cash
and balances from Central Bank
|
2,561,819 | 1,398,881 | 1,526,810 | 942,065 | 48.5 | % | (8.4 | )% | ||||||||||||||||
Funds
to be cleared
|
891,702 | 486,914 | 345,521 | 426,647 | 14.1 | % | 40.9 | % | ||||||||||||||||
Financial
assets held for trading
|
1,487,875 | 812,454 | 877,884 | 1,003,448 | (19.0 | )% | (7.5 | )% | ||||||||||||||||
Investment
collateral under agreements to repurchase
|
9,157 | 5,000 | 3,679 | 13,212 | (62.2 | )% | 35.9 | % | ||||||||||||||||
Derivatives
|
2,804,183 | 1,531,224 | 1,465,832 | 1,502,295 | 1.9 | % | 4.5 | % | ||||||||||||||||
Interbank
loans
|
75,885 | 41,437 | 47,738 | 57,800 | (28.3 | )% | (13.2 | )% | ||||||||||||||||
Loans,
net of reserves for loan losses
|
25,995,499 | 14,194,842 | 13,669,507 | 13,087,295 | 8.5 | % | 3.8 | % | ||||||||||||||||
Available-for-sale
financial assets
|
2,456,361 | 1,341,296 | 1,572,839 | 1,444,802 | (7.2 | )% | (14.7 | )% | ||||||||||||||||
Held-to-maturity
investments
|
- | - | - | - | — | % | — | % | ||||||||||||||||
Investments
in other companies
|
11,907 | 6,502 | 7,095 | 7,145 | (9.0 | )% | (8.4 | )% | ||||||||||||||||
Intangible
assets
|
130,160 | 71,074 | 72,290 | 69,356 | 2.5 | % | (1.7 | )% | ||||||||||||||||
Fixed
assets
|
298,844 | 163,184 | 179,981 | 190,997 | (14.6 | )% | (9.3 | )% | ||||||||||||||||
Current
tax assets
|
10,006 | 5,464 | 4,649 | 4,826 | 13.2 | % | 17.5 | % | ||||||||||||||||
Deferred
tax assets
|
204,996 | 111,938 | 103,186 | 94,369 | 18.6 | % | 8.5 | % | ||||||||||||||||
Other
assets
|
1,090,094 | 595,246 | 572,698 | 561,407 | 6.0 | % | 3.9 | % | ||||||||||||||||
Total
Assets
|
38,028,488 | 20,765,456 | 20,449,709 | 19,405,664 | 7.0 | % | 1.5 | % | ||||||||||||||||
Liabilities
and Equity
|
||||||||||||||||||||||||
Demand
deposits
|
7,634,620 | 4,168,884 | 3,890,230 | 3,083,814 | 35.2 | % | 7.2 | % | ||||||||||||||||
Funds
to be cleared
|
555,273 | 303,207 | 197,908 | 195,249 | 55.3 | % | 53.2 | % | ||||||||||||||||
Investments
sold under agreements to repurchase
|
267,554 | 146,098 | 762,703 | 512,279 | (71.5 | )% | (80.8 | )% | ||||||||||||||||
Time
deposits and savings accounts
|
13,173,475 | 7,193,376 | 6,818,939 | 8,342,396 | (13.8 | )% | 5.5 | % | ||||||||||||||||
Derivatives
|
2,290,169 | 1,250,547 | 1,358,323 | 1,462,558 | (14.5 | )% | (7.9 | )% | ||||||||||||||||
Deposits
from credit institutions
|
3,846,230 | 2,100,234 | 2,005,763 | 1,140,901 | 84.1 | % | 4.7 | % | ||||||||||||||||
Marketable
debt securities
|
5,942,976 | 3,245,162 | 2,872,100 | 2,622,275 | 23.8 | % | 13.0 | % | ||||||||||||||||
Other
obligations
|
289,514 | 158,089 | 174,497 | 149,046 | 6.1 | % | (9.4 | )% | ||||||||||||||||
Current
tax liabilities
|
39,659 | 21,656 | 74,440 | 34,786 | (37.7 | )% | (70.9 | )% | ||||||||||||||||
Deferred
tax liability
|
4,893 | 2,672 | 1,650 | 9,567 | (72.1 | )% | 61.9 | % | ||||||||||||||||
Provisions
|
349,787 | 191,001 | 266,699 | 122,990 | 55.3 | % | (28.4 | )% | ||||||||||||||||
Other
liabilities
|
532,449 | 290,744 | 313,411 | 201,864 | 44.0 | % | (7.2 | )% | ||||||||||||||||
Total
Liabilities
|
34,926,600 | 19,071,670 | 18,736,663 | 17,877,725 | 6.7 | % | 1.8 | % | ||||||||||||||||
Equity
|