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Transactions With Related Parties | 12 Months Ended
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Dec. 31, 2022
Disclosure Of Related Party Text Block Abstract |
TRANSACTIONS WITH RELATED PARTIES | NOTE 34 - TRANSACTIONS WITH RELATED PARTIES In addition to affiliates and associated entities, the Bank’s “related parties” include its “key personnel” from the executive staff (members of the Bank’s Board of Directors and Managers of Banco Santander-Chile and its affiliates, together with their close relatives), as well as the entities over which the key personnel could exercise significant influence or control. The Bank also considers the companies that are part of the Santander Group worldwide as related parties, since all of them have a common parent, i.e., Banco Santander S.A. (located in Spain). Transactions between the Bank and its related parties are specified below. To facilitate comprehension, we have divided the information into four categories: Santander Group Companies This category includes all the companies that are controlled by the Santander Group around the world, and hence, it also includes the companies over which the Bank exercises any degree of control (affiliates and special-purpose entities). Associated companies This category includes the entities over which the Bank, in accordance with section b) of Note 1 to these Financial Statements, exercises a significant degree of influence and which generally belong to the group of entities known as “business support companies”. Key personnel This category includes members of the Bank’s Board of Directors and managers of Banco Santander-Chile and its affiliates, together with their close relatives. Other This category encompasses the related parties that are not included in the groups identified above and which are, in general, entities over which the key personnel could exercise significant influence or control. The terms for transactions with related parties are equivalent to those which prevail in transactions made under market conditions or to which the corresponding considerations in kind have been attributed.
| a. | Loans to related parties
Loans and accounts receivable as well as contingent loans that correspond to related entities are as follows:
|  | As of December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Loans and accounts receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  | 680,624 |  |  |  | 118 |  |  |  | 3,185 |  |  |  | 280 |  |  |  | 592,992 |  |  |  | 192 |  |  |  | 2,611 |  |  |  | 219 |  |  |  | 352,590 |  |  |  | 265 |  |  |  | 3,939 |  |  |  | 900 |
Mortgage loans |  |  | - |  |  |  | - |  |  |  | 30,479 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,716 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 22,428 |  |  |  | - |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 6,540 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,562 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,131 |  |  |  | - |
Loans and accounts receivable |  |  | 680,624 |  |  |  | 118 |  |  |  | 40,204 |  |  |  | 280 |  |  |  | 592,992 |  |  |  | 192 |  |  |  | 29,889 |  |  |  | 219 |  |  |  | 352,590 |  |  |  | 265 |  |  |  | 32,498 |  |  |  | 900 |
Allowance for loan losses |  |  | (2,213 | ) |  |  | (8 | ) |  |  | (164 | ) |  |  | (10 | ) |  |  | (2,586 | ) |  |  | (30 | ) |  |  | (138 | ) |  |  | (6 | ) |  |  | (1,138 | ) |  |  | (9 | ) |  |  | (137 | ) |  |  | (14 | )
Net loans |  |  | 678,411 |  |  |  | 100 |  |  |  | 40,040 |  |  |  | 270 |  |  |  | 590,406 |  |  |  | 162 |  |  |  | 29,751 |  |  |  | 213 |  |  |  | 351,452 |  |  |  | 256 |  |  |  | 32,361 |  |  |  | 886 |
Guarantees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,039 |  |  |  | - |  |  |  | 25,545 |  |  |  | 117 |  |  |  | 3,323 |  |  |  | - |  |  |  | 27,203 |  |  |  | 442 |
Contingent loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal guarantees |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Letters of credit |  |  | 19,162 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 13,848 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,447 |  |  |  | - |  |  |  | - |  |  |  | 93 |
Guarantees |  |  | 30,422 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 538 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 811 |  |  |  | - |  |  |  | - |  |  |  | - |
Contingent loans |  |  | 49,584 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 14,386 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,258 |  |  |  | - |  |  |  | - |  |  |  | 93 |
Allowance for contingent loans |  |  | (41 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (32 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net contingent loans |  |  | 49,543 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 14,354 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,252 |  |  |  | - |  |  |  | - |  |  |  | 93 |
Loan activity to related parties during 2022, 2021 and 2020 is shown below:
|  | As of December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Group entities |  |  | Associates entities |  |  | Key Personnel |  |  | Other |  |  | Group entities (*) |  |  | Associates entities |  |  | Key Personnel |  |  | Other |  |  | Group entities (*) |  |  | Associates entities |  |  | Key Personnel |  |  | Other |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Opening balances as of January 1, |  |  | 607,378 |  |  |  | 192 |  |  |  | 29,889 |  |  |  | 219 |  |  |  | 356,848 |  |  |  | 265 |  |  |  | 32,498 |  |  |  | 993 |  |  |  | 715,671 |  |  |  | 375 |  |  |  | 29,240 |  |  |  | 748 |
Loans granted |  |  | 179,540 |  |  |  | 29 |  |  |  | 18,115 |  |  |  | 156 |  |  |  | 373,006 |  |  |  | - |  |  |  | 5,738 |  |  |  | 53 |  |  |  | 388,896 |  |  |  | - |  |  |  | 8,080 |  |  |  | 727 |
Loans payments |  |  | (56,710 | ) |  |  | (103 | ) |  |  | (7,800 | ) |  |  | (95 | ) |  |  | (122,476 | ) |  |  | (73 | ) |  |  | (8,347 | ) |  |  | (827 | ) |  |  | (747,719 | ) |  |  | (110 | ) |  |  | (4,822 | ) |  |  | (482 | )
Total |  |  | 730,208 |  |  |  | 118 |  |  |  | 40,204 |  |  |  | 280 |  |  |  | 607,378 |  |  |  | 192 |  |  |  | 29,889 |  |  |  | 219 |  |  |  | 356,848 |  |  |  | 265 |  |  |  | 32,498 |  |  |  | 993 |
| (*) | Loans with non-controlled companies (not-consolidated) amount MCh$27,544, MCh$1,174 and MCh$2,286 as of December 31, 2022, 2021 and 2020, respectively.
| b. | Assets and liabilities with related parties
|  | As of December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and deposits in banks |  |  | 280,364 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,069,468 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 703,069 |  |  |  | - |  |  |  | - |  |  |  | - |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial derivative contracts |  |  | 1,190,683 |  |  |  | 386,494 |  |  |  | - |  |  |  | - |  |  |  | 1,164,660 |  |  |  | 298,997 |  |  |  | - |  |  |  | - |  |  |  | 978,696 |  |  |  | 186,038 |  |  |  | 33 |  |  |  | 7 |
Other assets |  |  | 676,850 |  |  |  | 287,053 |  |  |  | - |  |  |  | - |  |  |  | 1,042,852 |  |  |  | 437,227 |  |  |  | - |  |  |  | - |  |  |  | 445,609 |  |  |  | 412,277 |  |  |  | - |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial derivative contracts |  |  | 1,695,284 |  |  |  | 326,149 |  |  |  | - |  |  |  | - |  |  |  | 2,083,795 |  |  |  | 224,247 |  |  |  | - |  |  |  | - |  |  |  | 1,137,502 |  |  |  | 354,108 |  |  |  | - |  |  |  | - |
Financial liabilities at amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits and other demand liabilities |  |  | 73,193 |  |  |  | - |  |  |  | 4,398 |  |  |  | 833 |  |  |  | 16,190 |  |  |  | 2,486 |  |  |  | 4,760 |  |  |  | 1,003 |  |  |  | 17,118 |  |  |  | 4,484 |  |  |  | 5,997 |  |  |  | 3,242 |
Time deposits and other time liabilities |  |  | 10,376 |  |  |  | - |  |  |  | 9,442 |  |  |  | 1,102 |  |  |  | 900,830 |  |  |  | 1,677 |  |  |  | 3,066 |  |  |  | 948 |  |  |  | 1,409,404 |  |  |  | 100 |  |  |  | 4,706 |  |  |  | 864 |
Obligations under repurchase agreements |  |  | 64,547 |  |  |  | - |  |  |  | - |  |  |  | 18,135 |  |  |  | 57,771 |  |  |  | - |  |  |  | 181 |  |  |  | 5,807 |  |  |  | 961,718 |  |  |  | - |  |  |  | 101 |  |  |  | - |
Interbank borrowing |  |  | 224,798 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 640,860 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 544,291 |  |  |  | - |  |  |  | - |  |  |  | - |
Issued debt instruments |  |  | 1,001,310 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 584,244 |  |  |  | 592,468 |  |  |  | - |  |  |  | - |  |  |  | 349,002 |  |  |  | - |  |  |  | - |  |  |  | - |
Other financial liabilities |  |  | 267,130 |  |  |  | 325,070 |  |  |  | - |  |  |  | - |  |  |  | 16,259 |  |  |  | 233,630 |  |  |  | - |  |  |  | - |  |  |  | 1,210 |  |  |  | 4,484 |  |  |  | 5,997 |  |  |  | 3,242 |
| c. | Income (expense) recorded due to transactions with related parties
|  | For the years ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |  |  | Group entities |  |  | Associates entities |  |  | Key personnel |  |  | Other |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Interest income and inflation-indexation adjustments |  |  | (44,196 | ) |  |  | (13 | ) |  |  | 4,198 |  |  |  | 79 |  |  |  | (24,428 | ) |  |  | 51 |  |  |  | 1,905 |  |  |  | 9 |  |  |  | (30,586 | ) |  |  | 21 |  |  |  | 1,202 |  |  |  | 10 |
Fee and commission income and expenses |  |  | 157,236 |  |  |  | 86,581 |  |  |  | 261 |  |  |  | 15 |  |  |  | 134,404 |  |  |  | 25,445 |  |  |  | 202 |  |  |  | 11 |  |  |  | 46,823 |  |  |  | 22,596 |  |  |  | 152 |  |  |  | 24 |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) |  |  | (690,780 | ) |  |  | (47,993 | ) |  |  | (217 | ) |  |  | 27 |  |  |  | (751,605 | ) |  |  | 187,300 |  |  |  | - |  |  |  | - |  |  |  | (390,737 | ) |  |  | 240,565 |  |  |  | - |  |  |  | - |
Other operating income and expenses |  |  | 1,311 |  |  |  | (619 | ) |  |  | - |  |  |  | - |  |  |  | 552 |  |  |  | (525 | ) |  |  | - |  |  |  | - |  |  |  | 492 |  |  |  | (522 | ) |  |  | - |  |  |  | - |
Key personnel compensation and expenses |  |  | - |  |  |  | - |  |  |  | (32,739 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (36,579 | ) |  |  | - |  |  |  |  |  |  |  | - |  |  |  | (31,961 | ) |  |  | - |
Administrative and other expenses |  |  | (78,435 | ) |  |  | (82,771 | ) |  |  | - |  |  |  | - |  |  |  | (66,895 | ) |  |  | (54,953 | ) |  |  | - |  |  |  | - |  |  |  | (45,478 | ) |  |  | (16,763 | ) |  |  | - |  |  |  | - |
| (*) | Primarily relates to derivative contracts used to financial hedge of exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries.
| d. | Transactions with related parties
Single transaction in the period with related parties not legal persons, which are not usual business operations of the Bank with their clients, and that exceed UF2,000 (USD 82,654)
As of December 31, 2022 |  |  |  |  |  | Description of the transactions |  | Effect on income statements |  | Effect on balance sheet |
Business name |  | Country |  | Nature of relationship with the Bank |  | Type of service |  | Term |  | Renewal |  | Income MCh$ |  | Expenses MCh$ |  |  | Account receivable MCh$ |  |  | Account payable MCh$ |
Banco Santander, S.A. |  | Spain |  | Group |  | Advisory services |  | Monthly |  | Contractual |  | - |  |  | 15,999 |  |  |  | - |  |  |  | 1,642 |
Santander Back-Offices Globales Mayoristas, S.A. |  | Spain |  | Group |  | Back Office services |  | Monthly |  | Contractual |  | - |  |  | 3,059 |  |  |  | - |  |  |  | - |
Santander Chile Holding S.A. |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  | 234 |  |  | - |  |  |  | 234 |  |  |  | - |
Santander Factoring S.A. |  | Chile |  | Group |  | Leases, Custody and gateway |  | Monthly |  | Contractual |  | 39 |  |  | 423 |  |  |  | 39 |  |  |  | 133 |
Gesban Santander Servicios Profesionales Contables Limitada |  | Chile |  | Group |  | Accounting services |  | Monthly |  | Contractual |  | 60 |  |  | 1,019 |  |  |  | 60 |  |  |  | 523 |
Santander Gestión de Recaudación y Cobranzas, Ltda. |  | Chile |  | Group |  | Leases and collection |  | Monthly |  | Contractual |  | 408 |  |  | 180 |  |  |  | 408 |  |  |  | 14 |
Santander Global Facilities, S.L. |  | Spain |  | Group |  | Advisory services |  | Monthly |  | Contractual |  | - |  |  | 341 |  |  |  | - |  |  |  | - |
Santander Investment Chile Limitada |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  | - |  |  | 4,381 |  |  |  | - |  |  |  | 26 |
Santander Corredores de Bolsa Limitada |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  | 65 |  |  | 226 |  |  |  | 65 |  |  |  | 29 |
Santander Global Technology and Operations Chile limitada |  | Chile |  | Group |  | IT Services |  | Monthly |  | Contractual |  | - |  |  | 258 |  |  |  | - |  |  |  | - |
Universia Chile, S.A. |  | Chile |  | Group |  | Institucional services |  | Monthly |  | Contractual |  | 8 |  |  | 341 |  |  |  | 8 |  |  |  | - |
Aquanima Chile S.A. |  | Chile |  | Group |  | Procurement Services |  | Monthly |  | Contractual |  | - |  |  | 1,710 |  |  |  | - |  |  |  | - |
Santander Asset Management S.A. Administradora General de Fondos |  | Chile |  | Group |  | Leases and others |  | Monthly |  | Contractual |  | - |  |  | 626 |  |  |  | - |  |  |  | 78 |
Zurich Santander Seguros Generales Chile S.A. |  | Chile |  | Group |  | Commercial agreements |  | Monthly |  | Contractual |  | 187 |  |  | - |  |  |  | 187 |  |  |  | - |
Santander Consumer Finance Limitada |  | Chile |  | Group |  | Advisory services and others |  | Monthly |  | Contractual |  | 70 |  |  | - |  |  |  | 70 |  |  |  | - |
Santander Global Technology and Operations, S.L. Unipersonal |  | Spain |  | Group |  | IT Services |  | Monthly |  | Contractual |  | - |  |  | 49,744 |  |  |  | - |  |  |  | - |
Mercury Trade Finance Solutions, S.p.A. |  | Chile |  | Group |  | IT Services |  | Monthly |  | Contractual |  | - |  |  | 256 |  |  |  | - |  |  |  | - |
Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  | 415 |  |  | - |  |  |  | 415 |  |  |  | - |
Santander Corredora de Seguros Limitada |  | Chile |  | Group |  | Insurance broker |  | Monthly |  | Contractual |  | 87 |  |  | - |  |  |  | 87 |  |  |  | - |
Centro de Compensación Automatizado, S.A. |  | Chile |  | Group |  | Derivatives clearing |  | Monthly |  | Contractual |  | - |  |  | 2,184 |  |  |  | - |  |  |  | - |
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A. |  | Chile |  | Group |  | Card operator |  | Monthly |  | Contractual |  | - |  |  | 632 |  |  |  | - |  |  |  | - |
PagoNxt Trade Services, S.L. |  | Spain |  | Group |  | Digital payments |  | Monthly |  | Contractual |  | - |  |  | 284 |  |  |  | - |  |  |  | - |
As of December 31, 2021 |  |  |  |  |  | Description of the transactions |  | Effect on income statements |  |  | Effect on balance sheet |
Business name |  | Country |  | Nature of relationship with the Bank |  | Type of service |  | Term |  | Renewal |  | Income MCh$ |  |  | Expenses MCh$ |  |  | Account receivable MCh$ |  |  | Account payable MCh$ |
Banco Santander, S.A. |  | Spain |  | Group |  | Consulting services |  | Monthly |  | Contractual |  |  | - |  |  |  | 12,710 |  |  |  | - |  |  |  | 10,329 |
Santander Back-Offices Globales Mayoristas, S.A. |  | Spain |  | Group |  | BackOffice services |  | Monthly |  | Contractual |  |  | - |  |  |  | 2,005 |  |  |  | - |  |  |  | - |
Santander Chile Holding S.A. |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  |  | 211 |  |  |  | - |  |  |  | - |  |  |  | - |
Santander Factoring S.A. |  | Chile |  | Group |  | Leases,Custody, Gateway |  | Monthly |  | Contractual |  |  | 35 |  |  |  | 428 |  |  |  | 35 |  |  |  | 42 |
Gesban Santander Servicios Profesionales Contables Limitada |  | Chile |  | Group |  | Accounting services |  | Monthly |  | Contractual |  |  | 54 |  |  |  | 917 |  |  |  | - |  |  |  | 79 |
Santander Gestión de Recaudación y Cobranzas, Ltda. |  | Chile |  | Group |  | Leasing and collection services |  | Monthly |  | Contractual |  |  | 369 |  |  |  | 6,221 |  |  |  | - |  |  |  | 175 |
Santander Investment Chile Limitada |  | Chile |  | Group |  | Consulting services |  | Monthly |  | Contractual |  |  | - |  |  |  | 3,910 |  |  |  | - |  |  |  | 60 |
Santander Global Technology and Operations Chile limitada |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  |  | - |  |  |  | 231 |  |  |  | - |  |  |  | - |
Universia Chile, S.A. |  | Chile |  | Group |  | Leases |  | Monthly |  | Contractual |  |  | - |  |  |  | 274 |  |  |  | - |  |  |  | 65 |
Aquanima Chile S.A. |  | Chile |  | Group |  | IT services |  | Monthly |  | Contractual |  |  | - |  |  |  | 1,940 |  |  |  | - |  |  |  | - |
Santander Asset Management S.A. Administradora General de Fondos |  | Chile |  | Group |  | Institutional services |  | Monthly |  | Contractual |  |  | - |  |  |  | 495 |  |  |  | - |  |  |  | 65 |
Zurich Santander Seguros Generales Chile S.A. |  | Chile |  | Asociate |  | Procurement services |  | Monthly |  | Contractual |  |  | 188 |  |  |  | - |  |  |  | 188 |  |  |  | - |
Santander Consumer Finance Limitada |  | Chile |  | Group |  | Sales channel services |  | Monthly |  | Contractual |  |  | 911 |  |  |  | - |  |  |  | 71 |  |  |  | - |
Santander Global Technology and Operations, S.L. Unipersonal |  | España |  | Group |  | Leases and others |  | Monthly |  | Contractual |  |  | - |  |  |  | 41,683 |  |  |  | - |  |  |  | - |
Mercury Trade Finance Solutions, S.p.A. |  | Chile |  | Group |  | Sales channel services |  | Monthly |  | Contractual |  |  | - |  |  |  | 343 |  |  |  | - |  |  |  | - |
Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. |  | Chile |  | Group |  | Consulting services and others |  | Monthly |  | Contractual |  |  | 443 |  |  |  | - |  |  |  | - |  |  |  | - |
| e. | Payments to Board members and key management personnel
The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the “Personnel salaries and expenses” and/or “Administrative expenses” items of the Consolidated Statements of Income, corresponds to the following categories:
|  | For the years ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Personnel compensation |  |  | 20,280 |  |  |  | 16,067 |  |  |  | 16,220 |
Board members’ salaries and expenses |  |  | 1,692 |  |  |  | 1,539 |  |  |  | 1,452 |
Bonuses or gratifications |  |  | 17,794 |  |  |  | 18,458 |  |  |  | 12,583 |
Stock-based benefits (*) |  |  | (1,169 | ) |  |  | (315 | ) |  |  | (1,589 | )
Seniority compensation |  |  | 6 |  |  |  | 512 |  |  |  | 1,079 |
Pension plans |  |  | 849 |  |  |  | (873 | ) |  |  | 1,026 |
Training expenses |  |  | 50 |  |  |  | 113 |  |  |  | 87 |
Health funds |  |  | 357 |  |  |  | 271 |  |  |  | 276 |
Other personnel expenses |  |  | 791 |  |  |  | 807 |  |  |  | 827 |
Total |  |  | 40,650 |  |  |  | 36,579 |  |  |  | 31,961 |
| (*) | Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions.
| f. | Composition of key personnel
As of December 31, 2022, 2021 and 2020, the composition of the Bank’s key personnel is as follows:
Position |  | N° of executives |
|  | As of December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Director |  |  | 11 |  |  |  | 11 |  |  |  | 11 |
Manager |  |  | 124 |  |  |  | 100 |  |  |  | 109 |
Total key personnel |  |  | 135 |  |  |  | 111 |  |  |  | 120 |

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