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    BSANTANDER   CLP1506A1070

BANCO SANTANDER-CHILE

(BSANTANDER)
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Banco Santander Chile : Financial Statements 45.4 KB

07/29/2021 | 08:29am EDT
Balance Sheet
Unaudited Balance Sheet
Jun/21 Jun/21 Jun/20 Jun-21/Jun-20
US$ Ths1 Ch$ Million % Chg.
Cash and deposits in banks 10,261,328 7,512,113 3,776,118 98.9%
Cash items in process of collection 1,421,179 1,040,417 375,238 177.3%
Trading investments 59,850 43,815 208,237 (79.0%)
Investments under resale agreements - - - --%
Financial derivative contracts 8,612,269 6,304,870 13,498,185 (53.3%)
Interbank loans, net 10,432 7,637 8,717 (12.4%)
Loans and account receivables from customers, net 46,049,253 33,711,737 34,300,657 (1.7%)
Available for sale investments 9,659,208 7,071,313 5,294,192 33.6%
Held-to-maturity investments - - - --%
Investments in associates and other companies 14,329 10,490 10,012 4.8%
Intangible assets 114,705 83,973 71,043 18.2%
Property, plant and equipment 252,236 184,657 189,569 (2.6%)
Right of use assets 258,205 189,027 200,890 (5.9%)
Current taxes 106,531 77,989 - --%
Deferred taxes 862,960 631,756 516,631 22.3%
Other assets 2,654,024 1,942,958 2,577,254 (24.6%)
Total Assets 80,336,510 58,812,752 61,026,743 (3.6%)
Deposits and other demand liabilities 24,208,081 17,722,252 12,411,024 42.8%
Cash items in process of being cleared 1,301,031 952,459 284,860 234.4%
Obligations under repurchase agreements 80,402 58,861 200,850 (70.7%)
Time deposits and other time liabilities 16,058,091 11,755,807 14,145,381 (16.9%)
Financial derivatives contracts 9,181,361 6,721,491 13,100,269 (48.7%)
Interbank borrowings 10,946,779 8,013,918 5,453,484 47.0%
Issued debt instruments 10,958,317 8,022,365 9,442,203 (15.0%)
Other financial liabilities 292,911 214,434 132,064 62.4%
Leasing contract obligations 197,728 144,753 149,983 (3.5%)
Current taxes - - 56,294 (100.0%)
Deferred taxes 293,192 214,640 106,393 101.7%
Provisions 612,829 448,640 264,702 69.5%
Other liabilities 1,536,527 1,124,861 1,584,418 (29.0%)
Total Liabilities 75,667,251 55,394,481 57,331,925 (3.4%)
Equity
Capital 1,217,494 891,303 891,303 0.0%
Reserves 3,481,812 2,548,965 2,341,986 8.8%
Valuation adjustments (501,690) (367,277) 54,695 (771.5%)
Retained Earnings:
Retained earnings from prior years - - 165,628 (100.0%)
Income for the period 501,572 367,191 228,873 60.4%
Minus: Provision for mandatory dividends (150,471) (110,157) (68,662) 60.4%
Total Shareholders' Equity 4,548,717 3,330,025 3,613,823 (7.9%)
Non-controlling interest 120,541 88,246 80,995 9.0%
Total Equity 4,669,259 3,418,271 3,694,818 (7.5%)
Total Liabilities and Equity 80,336,510 58,812,752 61,026,743 (3.6%)
1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
YTD income statement
Unaudited YTD Income Statement
Jun/21 Jun/21 Jun/20 Jun-21/Jun-20
US$ Ths1 Ch$ Million % Chg.
Interest income 1,663,433 1,217,766 1,153,152 5.6%
Interest expense -476,274 -348,671 -384,510 -9.3%
Net interest income 1,187,159 869,095 768,642 13.1%
Fee and commission income 351,274 257,161 226,967 13.3%
Fee and commission expense -143,658 -105,169 -90,302 16.5%
Net fee and commission income 207,617 151,992 136,665 11.2%
Net income (expense) from financial operations 12,650 9,261 216,071 -95.7%
Net foreign exchange gain 84,742 62,038 -116,001 -153.5%
Total financial transactions, net 97,392 71,299 100,070 -28.8%
Other operating income 14,091 10,316 11,939 -13.6%
Net operating profit before provisions for loan losses 1,506,259 1,102,702 1,017,316 8.4%
Provision for loan losses -251,397 -184,043 -293,933 -37.4%
Net operating profit 1,254,861 918,659 723,383 27.0%
Personnel salaries and expenses -274,094 -200,659 -202,582 -0.9%
Administrative expenses -185,343 -135,686 -127,804 6.2%
Depreciation and amortization -79,669 -58,324 -55,270 5.5%
Op. expenses excl. Impairment and Other operating expenses -539,106 -394,669 -385,656 2.3%
Impairment of property, plant and equipment - - -638 -100.0%
Other operating expenses -70,190 -51,385 -45,958 11.8%
Total operating expenses -609,297 -446,054 -432,252 3.2%
Operating income 645,565 472,605 291,131 62.3%
Income from investments in associates and other companies 1,212 887 596 48.8%
Income before tax 646,776 473,492 291,727 62.3%
Income tax expense -140,039 -102,520 -61,325 67.2%
Net income from ordinary activities 506,737 370,972 230,402 61.0%
Net income discontinued operations - - - --%
Net consolidated income 506,737 370,972 230,402 61.0%
Net income attributable to:
Non-controlling interest 5,165 3,781 1,529 147.3%
Net income attributable to equity holders of the Bank 501,572 367,191 228,873 60.4%
1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
Quarterly income statement
Unaudited Quarterly Income Statement
2Q21 2Q21 1Q21 2Q20 2Q21/2Q20 2Q21/1Q21
US$ Ths1 Ch$ Million % Chg.
Interest income 824,149 603,343 614,423 512,718 17.7% (1.8%)
Interest expense (225,993) (165,445) (183,226) (132,375) 25.0% (9.7%)
Net interest income 598,156 437,898 431,197 380,343 15.1% 1.6%
Fee and commission income 179,568 131,458 125,703 101,317 29.7% 4.6%
Fee and commission expense (75,016) (54,918) (50,251) (39,057) 40.6% 9.3%
Net fee and commission income 104,551 76,540 75,452 62,260 22.9% 1.4%
Net income (expense) from financial operations (21,106) (15,451) 24,712 60,377 (125.6%) (162.5%)
Net foreign exchange gain 78,207 57,254 4,784 16,846 239.9% 1096.8%
Total financial transactions, net 57,102 41,803 29,496 77,223 (45.9%) 41.7%
Other operating income 6,875 5,033 5,283 5,528 (9.0%) (4.7%)
Net operating profit before provisions for loan losses 766,684 561,274 541,428 525,354 6.8% 3.7%
Provision for loan losses (130,849) (95,792) (88,251) (191,063) (49.9%) 8.5%
Net operating profit 635,835 465,482 453,177 334,291 39.2% 2.7%
Personnel salaries and expenses (141,773) (103,789) (96,870) (102,748) 1.0% 7.1%
Administrative expenses (90,515) (66,264) (69,422) (64,180) 3.2% (4.5%)
Depreciation and amortization (41,792) (30,595) (27,729) (27,556) 11.0% 10.3%
Op. expenses excl. Impairment and Other operating expenses (274,079) (200,648) (194,021) (194,484) 3.2% 3.4%
Impairment of property, plant and equipment - - - - --% --%
Other operating expenses (34,690) (25,396) (25,989) (24,901) 2.0% (2.3%)
Total operating expenses (308,770) (226,044) (220,010) (219,385) 3.0% 2.7%
Operating income 327,065 239,438 233,167 114,906 108.4% 2.7%
Income from investments in associates and other companies 798 584 303 257 127.2% 92.7%
Income before tax 327,863 240,022 233,470 115,163 108.4% 2.8%
Income tax expense (72,424) (53,020) (49,500) (29,777) 78.1% 7.1%
Net income from ordinary activities 255,439 187,002 183,970 85,386 119.0% 1.6%
Net income discontinued operations - - - - --% --%
Net consolidated income 255,439 187,002 183,970 85,386 119.0% 1.6%
Net income attributable to:
Non-controlling interest 2,082 1,524 2,257 728 109.3% (32.5%)
Net income attributable to equity holders of the Bank 253,358 185,478 181,713 84,859 118.6% 2.1%
1. The exchange rate used to calculate the figures in dollars was Ch$732.08 / US$1
Main ratios and other info
Loans 2Q20 3Q20 4Q20 1Q21 2Q21
Consumer loans 5,067,641 4,927,492 4,940,879 4,827,217 4,771,958
Residential mortgage loans 11,930,763 12,103,546 12,411,825 12,676,074 12,971,106
Commercial loans 18,280,832 17,838,247 17,037,536 16,998,782 16,927,183
Interbank loans 8,727 10,813 18,930 5,033 7,643
Total loans (including interbank) 35,287,963 34,880,098 34,409,170 34,507,106 34,677,890
Allowance for loan losses (978,589) (1,002,094) (976,821) (987,652) (958,516)
Total loans, net of allowances 34,309,374 33,878,004 33,432,349 33,519,454 33,719,374
Deposits
Demand deposits 12,411,024 13,907,876 14,560,893 15,713,432 17,722,252
Time deposits 14,145,381 11,778,397 10,581,791 10,603,859 11,755,807
Total deposits 26,556,405 25,686,273 25,142,684 26,317,291 29,478,059
Mutual funds (Off balance sheet) 7,788,038 8,328,632 8,091,566 8,149,368 8,300,614
Total customer funds 34,344,443 34,014,905 33,234,250 34,466,659 37,778,673
Loans / Deposits1 93.6% 98.6% 100.3% 96.9% 87.2%
Average balances
Avg. interest earning assets 40,190,322 40,963,069 41,010,000 41,510,046 41,719,093
Avg. Loans 34,775,498 35,015,233 34,680,752 34,358,838 34,375,599
Avg. assets 60,430,179 58,923,964 55,857,850 54,949,433 56,883,770
Avg. demand deposits 11,814,412 13,154,324 14,028,347 14,844,587 16,794,519
Avg equity 3,587,937 3,643,009 3,596,092 3,567,645 3,433,826
Avg. free funds 15,402,349 16,797,333 17,624,439 18,412,232 20,228,346
Capitalization
Risk weighted assets 36,238,926 34,095,749 33,460,744 33,462,867 33,909,159
Tier I (Shareholders' equity) 3,613,823 3,646,910 3,567,916 3,651,387 3,418,271
Tier II 1,666,390 1,510,709 1,575,928 1,014,922 1,046,217
Regulatory capital 5,280,213 5,157,619 5,143,843 5,168,252 4,973,126
Tier I ratio 10.0% 10.7% 10.7% 10.9% 10.1%
BIS ratio 14.6% 15.1% 15.4% 15.4% 14.7%
Profitability & Efficiency
Net interest margin (NIM)2 3.8% 3.7% 4.3% 4.2% 4.2%
Efficiency ratio3 38.9% 41.5% 38.3% 37.6% 37.4%
Costs / assets4 1.3% 1.3% 1.4% 1.4% 1.4%
Avg. Demand deposits / interest earning assets 29.4% 32.1% 34.2% 35.8% 40.3%
Return on avg. equity 9.5% 11.5% 20.4% 20.4% 21.6%
Return on avg. assets 0.6% 0.7% 1.3% 1.3% 1.3%
Return on RWA 0.9% 1.2% 2.2% 2.2% 2.2%
(Ch$ millions)
Asset quality Jun/20 Sep/20 Dec/20 Mar/21 Jun/21
Impaired loans5 1,875,052 1,845,310 1,789,983 1,764,102 1,691,481
Non-performing loans (NPLs) 6 664,754 543,246 486,435 435,158 446,625
Past due loans7 381,012 354,105 325,044 297,984 284,999
Loan loss reserves (978,589) (1,002,094) (976,821) (987,652) (958,516)
Impaired loans / total loans 5.3% 5.3% 5.2% 5.1% 4.9%
NPLs / total loans 1.9% 1.6% 1.4% 1.3% 1.3%
PDL / total loans 1.1% 1.0% 0.9% 0.9% 0.8%
Coverage of NPLs (Loan loss allowance / NPLs) 147.2% 184.5% 200.8% 227.0% 214.6%
Coverage of PDLs (Loan loss allowance / PDLs) 256.8% 283.0% 300.5% 331.4% 336.3%
Risk index (Loan loss allowances / Loans) 8 2.8% 2.9% 2.8% 2.9% 2.8%
Cost of credit (prov expense annualized / avg. loans) 2.2% 1.5% 1.0% 1.0% 1.1%
Network
Total clients 3,461,403 3,509,957 3,607,609 3,762,790 3,893,309
Digital clients 1,339,361 1,488,902 1,546,524 1,723,240 1,867,167
Current account holders (including Superdigital and Life) 1,278,235 1,350,251 1,508,530 1,673,345 1,848,457
Branches 367 365 358 346 344
ATMs 1,104 1,176 1,199 1,222 1,257
Employees 11,028 10,792 10,470 10,391 10,240
Market information (period-end)
Net income per share (Ch$) 0.45 0.56 0.97 0.96 0.98
Net income per ADR (US$) 0.22 0.28 0.55 0.54 0.54
Stock price 33.6 27.3 34.1 45 36.31
ADR price 16.4 13.86 18.99 24.83 19.87
Market capitalization (US$mn) 8,386 6,478 8,946 11,651 9,361
Shares outstanding 188,446 188,446 188,446 188,446 188,446
ADRs (1 ADR = 400 shares) 471 471 471 471 471
Other Data
Quarterly inflation rate9 0.3% 0.0% 1.3% 1.1% 1.1%
Central Bank monetary policy reference rate (nominal) 0.50% 0.50% 0.50% 0.50% 0.50%
Observed Exchange rate (Ch$/US$) (period-end) 821.40 784.33 712.47 718.84 732.08
1. Ratio =(Net Loans - portion of mortgages funded with long-term bonds) / (Time deposits + Demand deposits)
2. NIM = Net interest income annualized divided by interest earning assets
3. Efficiency ratio =(Net interest income+ Net fee and commission income +Financial transactions net + Other operating income +Other operating expenses) divided by (Personnel expenses + Administrative expenses + Depreciation). Excludes impairment charges
4. Costs / assets = (Personnel expenses + Adm. Expenses + depreciation) / Total assets
5. Impaired loans include: (A) for loans individually evaluated for impairment, (i) the carrying amount of all loans to clients that are rated C1 through C6 and (ii) the carrying amount of loans to an individual client with a loan that is non-performing, regardless of category, excluding residential mortgage loans, if the past-due amount on the mortgage loan is less than 90 days; and (B) for loans collectively evaluated for impairment, (i) the carrying amount of total loans to a client, when a loan to that client is non-performing or has been renegotiated, excluding performing residential mortgage loans, and (ii) if the loan that is non-performing or renegotiated is a residential mortgage loan, all loans to that client.
6. Capital + future interest of all loans with one installment 90 days or more overdue.
7. Total installments plus lines of credit more than 90 days overdue.
8. Based on internal credit models and CMF guidelines. Banks must have a 100% coverage of risk index.
9. Calculated using the variation of the Unidad de Fomento (UF) in the period.

Disclaimer

Banco Santander-Chile published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 12:28:08 UTC.


© Publicnow 2021
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Net income 2021 664 B 814 M 814 M
Net Debt 2021 - - -
P/E ratio 2021 10,5x
Yield 2021 4,82%
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Nbr of Employees 10 470
Free-Float 32,5%
Chart BANCO SANTANDER-CHILE
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Banco Santander-Chile Technical Analysis Chart | BSANTANDER | CLP1506A1070 | MarketScreener
Technical analysis trends BANCO SANTANDER-CHILE
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 36,90 CLP
Average target price 46,44 CLP
Spread / Average Target 25,9%
EPS Revisions
Managers and Directors
Miguel Mata Huerta Chief Executive Officer
Emiliano Muratore Raccio Chief Financial Officer
Claudio Melandri Hinojosa Executive Chairman
Ricardo Bartel Director-Technology & Operations
Sergio Avila Director-Administration & Costs
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