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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
Summary Of Significant Accounting Policies  
Schedule of subsidiaries

The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation:

 

i.Entities controlled by the Bank through participation in equity

 

Name of the Subsidiary     Percent ownership share
    As of December 31,
  Place of
Incorporation and
operation		 2018   2017   2016
  Direct Indirect Total   Direct Indirect Total   Direct Indirect Total
Main Activity % % % % % %   % % %
                           
Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76   99.75 0.01 99.76   99.75 0.01 99.76
Santander Corredores de Bolsa Limitada Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00   50.59 0.41 51.00   50.59 0.41 51.00
Santander Agente de Valores Limitada (*) Securities brokerage Santiago, Chile 99.03 - 99.03   99.03 - 99.03   99.03 - 99.03

Santander S.A. Sociedad Securitizadora

 

 Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64   99.64 - 99.64   99.64 - 99.64

  

(*) On July 25, 2018, the company has ceased conducting foreign currency purcharse and sale operations, hence forth this operation will be carried out directly by the Bank.
Schedule of associates

The following companies are considered “Associates” in which the Bank accounts for its participation using the equity method:

 

      Percentage of  ownership share
      As of December 31,
    Place of Incorporation and
operation		 2018   2017   2016
Associates Main activity %   %   %
Redbanc S.A. ATM services Santiago, Chile 33.43   33.43   33.43
Transbank S.A. (*) Debit and credit card services Santiago, Chile 25.00   25.00   25.00
Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33   33.33   33.33
Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29   29.29   29.29
Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00   15.00   14.93
Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00   20.00   20.00
Sociedad Nexus S.A. Credit card processor Santiago, Chile 12.90   12.90   12.90
Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.48   12.48   12.07

(*) The Bank has given a mandate to third party to exercise its rights as shareholder in Transbank.
Schedule of useful lives for the tangible assets

The Bank applies the following useful lives for the tangible assets that comprise its assets:

 

ITEM  

Useful life

(Months)

     
Land   -
Paintings and works of art   -
Carpets and curtains   36
Computers and hardware   36
Vehicles   36
IT systems and software   36
ATMs   60
Other machines and equipment   60
Office furniture   60
Telephone and communication systems   60
Security systems     60
Rights over telephone lines   60
Air conditioning systems   84
Other installations   120
Buildings   1,200
     
Schedule of loan and accounts receivable charge-offs

Loan and accounts receivable charge-offs were recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below:

 

Type of loan   Term
     
Consumer loans with or without collateral   6 months
Other transactions without collateral   24 months
Commercial loans with collateral   36 months
Mortgage loans   48 months
Consumer leasing   6 months
Other non-mortgage leasing transactions   12 months
Mortgage leasing (household and business)   36 months