XML 55 R32.htm IDEA: XBRL DOCUMENT

Contingencies and Commitments

12 Months Ended

Dec. 31, 2022

Contingencies and Commitments [Abstract]

NOTE 24 - CONTINGENCIES AND COMMITMENTS

a.	Lawsuits and legal procedures

As of the issuance date of these financial statements, the Bank and its affiliates were subject to certain legal actions in the normal course of their business, As of December 31, 2022, the Bank and its subsidiaries have provisions for this item of Ch$5,533 million (Ch$3,035 million as of December 31, 2021) which is included in “Provisions” in the Consolidated Statements of Financial Position as provisions for contingencies.

b.	Contingent loans

The following table shows the Bank’s contractual obligations to issue loans:

	As of December 31,
	2022		2021
	MCh$		MCh$
Personal guarantees		924,173		579,051
Personal guarantees in local currency		483,807		349,906
Personal guarantees in foreign currency		440,366		229,145
Letter of credits of merchandise traffic operations		255,522		377,308
Transactions related to contingent events		1,476,599		1,390,410
Transactions related to contingent events in local currency		1,216,117		1,204,670
Transactions related to contingent events in foreign currency		260,482		185,740
Unrestricted prompt cancel credit lines		8,974,077		8,986,535
Other credit commitments		324,962		265,517
Credit for university studies		1,617		2,640
Other irrevocable credit commitments		323,345		262,877
Total		11,945,333		11,598,821

c.	Held securities

The Bank holds securities in the normal course of its business as follows:

	As of December 31,
	2022		2021
	MCh$		MCh$
Third party operations
Collections		104,972		109,465
Transferred financial assets managed by the Bank		9,090		16,987
Assets from third parties managed by the Bank and its affiliates		1,081,895		1,307,727
Subtotal		1,195,957		1,434,179
Custody of securities

Securities held in custody		9,057,428		7,022,067
Securities held in custody deposited in other entity		756,880		820,948
Issued securities held in custody		12,397,099		9,713,122
Subtotal		22,211,407		17,556,137
Total		23,407,364		18,990,316

As of December 31, 2022, the Bank has classified the portfolios managed by private banking into “Assets from third parties managed by the Bank and its affiliates” (memo account). At the end of December 2022, the balance for this was Ch$1,081,895 million (Ch$1,307,692 million as of December 31, 2021).

d.	Guarantees

Banco Santander-Chile has an integral bank policy of coverage of Official Loyalty N°5721202 in force with the company Compañía de Seguros Chilena Consolidada S.A., coverage for USD50,000,000 per claim with an annual limit of USD100,000,000, which covers both the Bank and its subsidiaries, with an expiration date of June 30, 2023.

e.	Contingent loans and liabilities

The Bank took on several contingent loans and liabilities, to satisfy its clients’ needs, that are not recognised in the Consolidated Financial Statements of Financial Position; these contain loan risks and are, therefore, part of the Bank’s global risk.