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Contingencies and Commitments | 12 Months Ended
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Dec. 31, 2023
Contingencies and Commitments [Abstract] |
CONTINGENCIES AND COMMITMENTS | 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, 2023, the Bank and its subsidiaries have provisions for this item of Ch$4,504 million (Ch$5,533 million as of December 31, 2022) which is included in “Provisions” in the Consolidated Statements of Financial Position as provisions for contingencies.
| b. | Contingent loans
The following table shows the Bank’s contractual obligations to issue loans:
|  | As of December 31,
|  | 2023 |  | 2022
|  | MCh$ |  | MCh$
Personal guarantees |  |  | 494,104 |  |  |  | 924,173 |
Personal guarantees in local currency |  |  | 193,144 |  |  |  | 483,807 |
Personal guarantees in foreign currency |  |  | 300,960 |  |  |  | 440,366 |
Letter of credits of merchandise traffic operations |  |  | 262,496 |  |  |  | 255,522 |
Transactions related to contingent events |  |  | 1,641,510 |  |  |  | 1,476,599 |
Transactions related to contingent events in local currency |  |  | 1,179,242 |  |  |  | 1,216,117 |
Transactions related to contingent events in foreign currency |  |  | 462,268 |  |  |  | 260,482 |
Unrestricted prompt cancel credit lines |  |  | 9,490,141 |  |  |  | 8,974,077 |
Other credit commitments |  |  | 314,318 |  |  |  | 314,962 |
Credit for university studies |  |  | 813 |  |  |  | 1,617 |
Other irrevocable credit commitments |  |  | 313,505 |  |  |  | 313,345 |
Total |  |  | 12,202,569 |  |  |  | 11,945,333 |
| c. | Held securities
The Bank holds securities in the normal course of its business as follows:
|  | As of December 31,
|  | 2023 |  | 2022
|  | MCh$ |  | MCh$
Third party operations |  |  |  |
Collections |  |  | 80,597 |  |  |  | 104,972 |
Transferred financial assets managed by the Bank |  |  | 8,183 |  |  |  | 9,090 |
Assets from third parties managed by the Bank and its affiliates |  |  | 1,325,795 |  |  |  | 1,081,895 |
Subtotal |  |  | 1,414,575 |  |  |  | 1,195,957 |
Custody of securities |  |  |  |  |  |  |  |
Securities held in custody |  |  | 8,762,559 |  |  |  | 9,057,428 |
Securities held in custody deposited in other entity |  |  | 742,078 |  |  |  | 756,880 |
Issued securities held in custody |  |  | 18,151,391 |  |  |  | 12,397,099 |
Subtotal |  |  | 27,656,028 |  |  |  | 22,211,407 |
Total |  |  | 29,070,603 |  |  |  | 23,407,364 |
As of December 31, 2023, the Bank has classified the portfolios managed by private banking into “Assets from third parties managed by the Bank and its affiliates” (memo account), the balance is Ch$1,325,795 million (Ch$1,081,895 million as of December 31, 2022).
| d. | Guarantees
Banco Santander-Chile has an integral bank policy of coverage of Official Loyalty N°0030129 in force with the company Zurich Chile Seguros Generales 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, 2024.
| 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.

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