Banco Santander Chile reported its third‑quarter 2025 results, showing nine‑month net income of $798 billion, up 37.3 % year‑over‑year. Return on average equity rose to 24.0 % from 18.2 % in the same period last year, operating income grew 14.8 % YoY, and net interest income and readjustments increased 16.6 %. Net interest margin climbed to 4.0 % from 3.4 % in 9M24.
The bank’s customer base expanded 8.7 % YoY to roughly 4.6 million, including 2.3 million digital customers, supporting a 22.1 % market share in checking accounts. Net commissions grew 8.0 % to a 62.1 % recurrence ratio, and the efficiency ratio improved to 35.9 % from 40.0 % last year. Operating expenses rose 3.1 % YoY, largely due to technology investments and branch network restructuring.
Capital strength remained robust, with a Common Equity Tier 1 ratio of 10.8 % at the end of September 2025. Total assets were $68.2 billion, gross loans $40.99 billion, deposits $29.36 billion, and shareholders’ equity $4.59 billion. Asset quality continued to improve, with non‑performing loans stabilizing and the CET1 ratio well above regulatory minimums.
Management highlighted lower funding costs as the primary driver of the net interest margin improvement and emphasized continued focus on digital transformation, branch network optimization, and cost discipline. No new forward guidance was issued beyond reaffirming the 2025 outlook, and the dividend payout ratio was 60 % of earnings.
Prior period comparison shows that Q3 2024 net income was $259.3 million, earnings per share $0.50, and net interest margin 3.8 % slightly down from 3.9 % the previous year, underscoring the stronger performance in the nine‑month period of 2025.
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