Banco Santander Chile (BSAC)
NYSE:BSAC
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Banco Santander Chile
(NYSE:BSAC)
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Rating:56Neutral
Price Target:
$32.00
â–²(4.68% Upside)
Action:DowngradedDate:03/04/26
The score is primarily constrained by mixed fundamentals (volatile revenue, leverage risk, and inconsistent cash-flow conversion) and weak technical momentum. These are partially offset by reasonable valuation (P/E and dividend yield) and a positive earnings-call outlook featuring strong profitability/efficiency and steady 2026 guidance, albeit with credit and regulatory risks.
Positive Factors
Strong, Improving Profitability
Sustained high ROE and material net income growth reflect structural profitability improvements across NII and fees. Durable profitability enhances internal capital generation, funds dividends and transformation, and provides a longer-term buffer to absorb credit or macro shocks versus peers.
Negative Factors
Volatile Revenue & Weak Cash Conversion
Material swings in reported revenue and uneven free cash flow conversion reduce earnings quality and predictability. Lower FCF coverage means earnings do not consistently translate to cash, limiting self‑funding for growth or payouts and increasing reliance on external funding in stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong, Improving Profitability
Sustained high ROE and material net income growth reflect structural profitability improvements across NII and fees. Durable profitability enhances internal capital generation, funds dividends and transformation, and provides a longer-term buffer to absorb credit or macro shocks versus peers.
Read all positive factors
Banco Santander Chile (BSAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.49B
Dividend Yield4.29%
Average Volume (3M)284.61K
Price to Earnings (P/E)12.6
Beta (1Y)0.63
Revenue Growth12.43%
EPS Growth56.30%
CountryUS
Employees8,757
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.61
Shares Outstanding471,115,330
10 Day Avg. Volume272,457
30 Day Avg. Volume284,608
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)2.36
Price to Sales (P/S)5.75
P/FCF Ratio21.22
Enterprise Value/Market Cap1.69K
Enterprise Value/Revenue7.13
Enterprise Value/Gross Profit10.11
Enterprise Value/Ebitda20.17
Forecast
1Y Price Target
$35.75Price Target Upside16.94% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)2.72
Revenue Forecast (FY)$3.45B
Banco Santander Chile Business Overview & Revenue Model
Company Description
Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The c...
How the Company Makes Money
Banco Santander Chile generates revenue primarily through net interest income, which is derived from the interest earned on loans and advances to customers minus the interest paid on deposits. Key revenue streams include consumer loans, mortgages,...
Banco Santander Chile Earnings Call Summary
Earnings Call Date:Jan 30, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive performance picture: strong profitability (23% y/y net income growth), stable NIM (~4%), industry‑leading efficiency (36%) and robust fee growth, supported by a solid capital position (CET1 11%) and successful funding. Management provided clear 2026 guidance reflecting continued digital transformation, client growth and disciplined cost control. However, important challenges remain—elevated cost of credit and impaired loan metrics, slower mortgage recovery due to judicial processes, ongoing transformation costs, and policy/regulatory uncertainties (payments competition/interchange, interest‑rate caps, potential tax changes). The positives (profitability, efficiency, capital, client momentum and ESG upgrades) substantially outweigh the negatives, though execution and regulatory developments will be key to sustaining momentum.Positive Updates
Strong Profitability and Net Income Growth
Net income of CLP 1,053 billion, up 23% year‑on‑year; return on average equity ~23.5% (year‑to‑date) and quarterly ROE consistently above 21% (most recent 21.9%). Guidance for 2026 ROE of 22%–24%.
Negative Updates
Elevated Cost of Credit and Asset Quality Pressure
Cost of credit remained above historical averages (~1.4% in 2025) and impaired loan ratios have increased due to longer loan durations; bank guiding to a modest improvement to ~1.3% in 2026 but credit costs remain elevated versus historic norms.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Profitability and Net Income Growth
Net income of CLP 1,053 billion, up 23% year‑on‑year; return on average equity ~23.5% (year‑to‑date) and quarterly ROE consistently above 21% (most recent 21.9%). Guidance for 2026 ROE of 22%–24%.
Read all positive updates
Company Guidance
For 2026 the bank guided to a constructive but moderate macro and operating outlook: GDP growth around a low 2% (management previously cited a 2.1–2.4% range), UF variation just below 2.9% and an average monetary policy rate near 4.3% (with neutral around 4.25%); Santander Chile expects mid‑single‑digit loan growth (management noted 5–6% potential, stronger in H2), risk‑weighted assets up ~2%, NIMs sustained at ~4%, fees and financial‑transaction income to grow mid‑ to high‑single‑digits, an efficiency ratio in the mid‑30s, cost‑of‑credit improving to ~1.3% (from ~1.4% in 2025), and an ROE target of 22%–24%; capital remains solid with a fully‑loaded CET1 of 11% (vs. a 9.08% minimum), a Pillar‑2 charge of 13 bps (≈8% of which must be met with CET1), and RWA density broadly stable — guidance excludes any as‑yet‑undefined interchange‑fee cuts; management also noted inflation sensitivity of ~CLP 8.5 billion (≈15 bps effect per 100 bps CPI move) and confirmed a ~60% dividend payout provision for 2025.Banco Santander Chile Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.31T | 4.90T | 5.22T | 4.72T | 3.37T |
| Gross Profit | 2.28T | 2.09T | 1.59T | 1.85T | 1.97T |
| EBITDA | 1.26T | 1.22T | 835.15B | 1.03T | 1.20T |
| Net Income | 1.05T | 852.96B | 579.43B | 792.28B | 842.47B |
Balance Sheet | |||||
| Total Assets | 68.09T | 68.40T | 71.09T | 68.42T | 63.84T |
| Cash, Cash Equivalents and Short-Term Investments | 6.64T | 7.61T | 10.52T | 11.30T | 11.14T |
| Total Debt | 16.15T | 14.73T | 12.71T | 10.90T | 10.38T |
| Total Liabilities | 62.41T | 63.04T | 65.77T | 63.46T | 59.41T |
| Stockholders Equity | 5.62T | 5.25T | 5.19T | 4.85T | 4.33T |
Cash Flow | |||||
| Free Cash Flow | 624.40B | 374.67B | -2.22T | -472.28B | -3.24T |
| Operating Cash Flow | 704.90B | 482.39B | -2.17T | -358.99B | -3.19T |
| Investing Cash Flow | -1.29T | -106.58B | -100.08B | -94.60B | -84.27B |
| Financing Cash Flow | -50.06B | -372.85B | 2.95T | -384.32B | 2.83T |
Banco Santander Chile Technical Analysis
Positive
30.57
Price Trends
33.89
Positive
32.62
Positive
29.10
Positive
Market Momentum
0.26
Negative
61.84
Neutral
67.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BSAC, the sentiment is Positive. The current price of 30.57 is below the 20-day moving average (MA) of 32.32, below the 50-day MA of 33.89, and above the 200-day MA of 29.10, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 61.84 is Neutral, neither overbought nor oversold. The STOCH value of 67.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BSAC.
Banco Santander Chile Risk Analysis
Banco Santander Chile disclosed 23 risk factors in its most recent earnings report. Banco Santander Chile reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco Santander Chile Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $11.55B | 9.86 | 10.70% | 2.49% | 4.78% | 21.68% | |
74 Outperform | $9.92B | 11.37 | 11.71% | 1.40% | 3.58% | 13.93% | |
73 Outperform | $20.29B | 8.44 | 17.70% | 10.29% | -6.79% | 16.13% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $19.49B | 16.34 | 21.25% | 5.56% | -11.64% | -8.75% | |
57 Neutral | $23.52B | 9.97 | 11.15% | 4.98% | 1.13% | -11.93% | |
56 Neutral | $16.49B | 12.58 | 21.37% | 4.29% | 12.43% | 56.30% |
* Financial Sector Average
BSAC
Banco Santander Chile
34.85
14.06
67.63%
BCH
Banco De Chile
38.60
14.10
57.57%
BSBR
Banco Santander Brasil
6.32
2.07
48.57%
CIB
Grupo Cibest
73.86
38.28
107.59%
WBS
Webster Financial
71.69
30.65
74.70%
WTFC
Wintrust Financial
147.43
51.61
53.86%
Banco Santander Chile Corporate Events
Banco Santander-Chile Places UF-Denominated Series BA Bonds in Local Market
Feb 27, 2026
On February 26, 2026, Banco Santander-Chile reported a new local bond placement as a material fact to the Chilean Financial Markets Commission, highlighting its ongoing use of the domestic capital market to fund operations and manage its liabiliti...
Banco Santander-Chile Places UF-Denominated Series BA Bonds in Local Market
Feb 19, 2026
On February 18, 2026, Banco Santander-Chile issued dematerialized bearer bonds in the Chilean local market under an existing credit line registered with the Financial Markets Commission in April 2025. The placement involved Series BA bonds totalin...
Banco Santander-Chile Raises Long-Term Funding With New Local Bond Placement
Feb 17, 2026
On February 16, 2026, Banco Santander-Chile reported a material fact to the Chilean Financial Markets Commission, disclosing a new placement of dematerialized bearer bonds in the local market. The issuance was carried out under an existing credit ...
Banco Santander-Chile Reports Strong January 2026 Consolidated Financials in Form 6-K Filing
Feb 11, 2026
Banco Santander-Chile has filed a Form 6-K with the U.S. Securities and Exchange Commission dated February 11, 2026, disclosing summarized consolidated financial information as of January 31, 2026. The bank reported total assets of CLP 70.4 trilli...
Banco Santander Chile Posts 23.5% ROE on Strong 2025 Earnings and Digital Growth
Feb 9, 2026
Banco Santander Chile reported solid results for the twelve months ended December 31, 2025, with net income attributable to shareholders rising 22.8% year on year to Ch$1.053 billion and return on average equity improving to 23.5%. Operating incom...
Banco Santander-Chile Sells 49.99% Stake in Getnet Payments Subsidiary and Signs Service Deal
Feb 3, 2026
On February 2, 2026, Banco Santander-Chile signed a share purchase agreement to sell 49.99% of its subsidiary Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. to Getnet Payments, S.L., with Santander Asesorías Financieras Li...
Banco Santander Chile Shifts Shareholder Registry Administration to DCV Registros
Feb 2, 2026
On February 2, 2026, Banco Santander-Chile announced that the administration of its shareholder registry has been transferred to DCV Registros S.A., a subsidiary of the Depósito Central de Valores (DCV), with immediate effect. The change, pre...
Banco Santander Chile Shareholders Approve Sale of 49.99% Stake in Getnet Payments Subsidiary
Jan 28, 2026
On January 27, 2026, Banco Santander-Chile held an Extraordinary Shareholders’ Meeting at which shareholders approved an offer from Getnet Payments, S.L. to Banco Santander-Chile and its affiliate Santander Asesorías Financieras Limitad...
Banco Santander-Chile Updates Habituality Policy After Board Approval
Jan 28, 2026
On January 27, 2026, Banco Santander-Chile’s board of directors approved minor adjustments to the bank’s Habituality Policy, as disclosed in a material fact filed with regulators on January 28, 2026. The updated policy, which governs s...
Banco Santander-Chile Posts Strong 2025 Results With CLP 1.07 Trillion Net Income
Jan 15, 2026
Banco Santander-Chile reported consolidated financial information as of December 31, 2025, filed with the U.S. Securities and Exchange Commission on January 15, 2026, showing total assets of CLP 68.1 trillion, driven mainly by CLP 39.6 trillion in...
Banco Santander-Chile Reports Solid 2025 Results with Strong Profitability and Capital Base
Jan 13, 2026
On January 13, 2026, Banco Santander-Chile filed a Form 6-K with the U.S. Securities and Exchange Commission, reporting consolidated financial information for the period ended December 31, 2025. The bank disclosed total assets of approximately MCh...
Banco Santander-Chile Issues US$500 Million Global Bond Due 2030
Jan 8, 2026
On January 8, 2026, Banco Santander-Chile announced that it has issued a new international bond to strengthen its funding structure and support its banking operations. The bank placed a USD 500 million bond under Rule 144A and Regulation S of the ...
Banco Santander Chile Discloses Board Position on Proposed Sale of 49.99% Stake in Getnet Chile
Dec 30, 2025
On December 30, 2025, Banco Santander-Chile reported that, in connection with an extraordinary shareholders’ meeting convened for January 27, 2026, its board of directors has issued and published its formal decision regarding an offer from G...
Banco Santander Chile Calls January Extraordinary Meeting on Partial Sale of Getnet Payments Unit
Dec 29, 2025
On December 23, 2025, Banco Santander Chile’s board resolved to call an extraordinary shareholders’ meeting for January 27, 2026 to consider an offer from Getnet Payments S.L. to acquire 49.99% of the shares in its subsidiary Sociedad ...
Banco Santander-Chile Issues USD 10 Million EMTN Bond Maturing in 2030
Dec 19, 2025
On December 17, 2025, Banco Santander-Chile reported that it issued a US dollar-denominated bond for USD 10 million under its Euro Medium Term Note (EMTN) program, with settlement scheduled for December 29, 2025. The bond, which matures on Decembe...
Banco Santander-Chile Reports Strong Financial Performance for November 2025
Dec 11, 2025
Banco Santander-Chile released its consolidated financial information for the period ending November 2025, highlighting a net income of 976,927 million Chilean pesos. The report indicates strong operational results with a total operating income of...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.