BSAC - Banco Santander-Chile GAAP EPS of $0.70

2023-07-31 16:47:56 ET

• Banco Santander-Chile press release ( NYSE: BSAC ): Q2 GAAP EPS of $0.70.

• Net financial results recorded a gain of Ch$162,338 million in 6M23, an increase of 63.6% compared to 6M22, mainly due to higher gains from financial assets and liabilities to be traded. In 2Q23, net financial results increased 9.8% compared to 1Q23, mainly due to foreign exchange gains, readjustments, and foreign currency hedge accounting.

• The Bank's total deposits increased 0.3% QoQ and 4.1% since December 31, 2022. The increase was driven by time deposits that increased 4.4% QoQ and 14.7% YTD mainly in the CIB segment, due to the fact that the increase in rates led our clients to switch to more attractive deposits explaining the decrease of 3.9% QoQ and 5.8% YTD of demand deposits.

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