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Non Current Assets Held for Sale
 12 Months Ended
Dec. 31, 2019
Non Current Assets Held for Sale [Abstract]  
NON CURRENT ASSETS HELD FOR SALE

NOTE 39

NON CURRENT ASSETS HELD FOR SALE

 

Banco Santander has decided to implement its own acquisition network, therefore the Bank is in process to disposing of the investment in the companies who provide such services. Accordingly, the Bank management is engaged in search plan for a buyer.

 

As required by IFRS 5, the Bank has reclassified to assets held for sale under the heading Other assets in the Consolidated Statement of Financial Position as of December 31, 2019 and in the same way it has presented in the income statements the effects associated with those investments as discontinued operations for all years presented.

 

The following investments in associates were classified to Other assets as assets held for sale:

 

       2019   2018   2017 
As of December 31,  Participation   Assets   Income   Income   Income 
   %   MCh$   MCh$   MCh$   MCh$ 
Transbank   25.00    19,093    1,442    3,118    2,024 
Nexus (*)   1.94    357    136    368    442 
Redbanc   33.43    2,944    121    285    353 
Total        22,394    1,699    3,771    2,819 
(*)

Remaining participation pending to sell at the end of the current year. See Note 40.