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Non-controlling Interest

12 Months Ended

Dec. 31, 2019

NOTE 25

NON-CONTROLLING INTEREST

The non-controlling interest included in the equity and the income from the subsidiaries is summarized as follows:

								Other comprehensive income
As of December 31, 2019	Non- controlling		Equity		Income			Debt instruments at FVOCI			Deferred tax		Total other comprehensive income			Comprehensive income
	%		MCh$		MCh$			MCh$			MCh$		MCh$			MCh$

Subsidiaries:
Santander Corredora de Seguros Limitada		0.25		178		6			1			-		1			7
Santander Corredores de Bolsa Limitada		49.41		22,301		625			(261	)		71		(190	)		435
Santander Asesorías Financieras Limitada(1)		0.97		498		9			-			-		-			9
Santander S.A. Sociedad Securitizadora		0.36		2		-			-			-		-			-
Klare Corredora de Seguros S.A.		49.90		3,782		(503	)		-			-		-			(503	)
Santander Consumer Chile S.A. (2)		49.00		24,564		1,544			-			-		-			1,544
Subtotal				51,325		1,681			(260	)		71		(189	)		1,492
Entities controlled through other considerations:
Santander Gestión de Recaudación y Cobranzas Limitada		100.00		3,777		1,031			-			-		-			1,031
Bansa Santander S.A.		100.00		20,051		(486	)		-			-		-			(486	)
Multiplica Spa		100.00		4,480		(4	)		-			-		-			(4	)
Subtotal				28,308		541			-			-		-			541

Total				79,633		2,222			(260	)		71		(189	)		2,033

(1) Ex Santander Agente de Valores Limitada

(2) On November27, 2019, the Bank acquired the 51% of Santander Consumer S.A., the remaining 49% is accounted as non-controlling interest.

							Other comprehensive income
As of December 31, 2018	Non-controlling		Equity		Income		Debt instruments at FVOCI			Deferred tax		Total other comprehensive income			Comprehensive income
	%		MCh$		MCh$		MCh$			MCh$		MCh$			MCh$

Subsidiaries:
Santander Corredora de Seguros Limitada		0.25		172		4		(2	)		-		(2	)		2
Santander Corredores de Bolsa Limitada		49.41		21,673		755		(84	)		2		(82	)		673
Santander Agente de Valores Limitada		0.97		488		99		-			-		-			99
Santander S.A. Sociedad Securitizadora		0.36		2		-		-			-		-			-
Subtotal				22,335		858		(86	)		2		(84	)		774
Entities controlled through other considerations:
Santander Gestión de Recaudación y Cobranzas Limitada		100.00		3,777		852		-			-		-			852
Bansa Santander S.A.		100.00		20,051		2,650		-			-		-			2,650
Subtotal				23,828		3,502		-			-		-			3,502

Total				46,163		4,360		(86	)		2		(84	)		4,276

							Other comprehensive income
As of December 31, 2017	Non-controlling		Equity		Income		Available for sale investments		Deferred tax			Total other comprehensive income		Comprehensive income
	%		MCh$		MCh$		MCh$		MCh$			MCh$		MCh$

Subsidiaries:
Santander Corredora de Seguros Limitada		0.25		167		4		-		-			-		4
Santander Corredores de Bolsa Limitada		49.41		21,000		702		470		(134	)		336		1,038
Santander Agente de Valores Limitada		0.97		389		132		-		-			-		132
Santander S.A. Sociedad Securitizadora		0.36		2		-		-		-			-		-
Subtotal				21,558		838		470		(134	)		336		1,174
Entities controlled through other considerations:
Santander Gestión de Recaudación y Cobranzas Limitada		100.00		2,925		741		-		-			-		741
Bansa Santander S.A.		100.00		17,401		10,869		-		-			-		10,869
Subtotals				20,326		11,610		-		-			-		11,610

Total				41,883		12,448		470		(134	)		336		12,784

The overview of the financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests is as follows, which does not include consolidation or conforming accounting policy adjustments:

	As of December 31,
	2019									2018									2017
							Net									Net									Net
	Assets		Liabilities		Capital		income			Assets		Liabilities		Capital		income			Assets		Liabilities		Capital		income
	MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$			MCh$		MCh$		MCh$		MCh$
Santander Corredora de Seguros Limitada		82,918		12,372		68,159		2,387			77,764		9,595		66,374		1,795			76,177		9,803		64,937		1,437
Santander Corredores de Bolsa Limitada		1,479,974		1,434,843		43,866		1,265			102,228		57,999		42,691		1,538			88,711		45,855		41,424		1,432
Santander Asesorias Financieras Limitada(*)		51,505		51		50,481		973			50,552		71		40,177		10,304			44,910		4,732		26,569		13,609
Santander S.A. Sociedad Securitizadora		636		88		639		(91	)		704		66		728		(90	)		400		50		432		(82	)
Klare Corredora de Seguros S.A.		8,303		724		8,586		(1,007	)		-		-		-		-			-		-		-		-
Santander Consumer Chile S.A.		505,059		452,528		39,951		12,580			-		-		-		-			-		-		-		-
Santander Gestión de Recaudación y Cobranzas Ltda.		8,200		3,392		3,777		1,031			6,932		3,155		2,925		852			10,826		7,901		2,184		741
Bansa Santander S.A.		87,607		68,042		20,051		(486	)		20,437		386		17,401		2,650			25,535		8,134		6,533		10,868
Multiplica Spa		4,480		4		4,480		(4	)		-		-		-		-			-		-		-		-
Total		2,228,682		1,972,044		239,990		16,648			258,617		71,272		170,296		17,049			246,559		76,475		142,079		28,005