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Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Activity with Respect to Shares | The activity with respect to shares during 2023, 2023 and 2022 was as follows:
|  | SHARES As of December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Issued as of January 1 |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |
Issuance of paid shares |  |  | - |  |  |  | - |  |  |  | - |
Issuance of outstanding shares |  |  | - |  |  |  | - |  |  |  | - |
Stock options exercised |  |  | - |  |  |  | - |  |  |  | - |
Issued as of December 31, |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |
Schedule of Shareholder Composition | As of December 31, 2023, the shareholder composition was as follows:
Corporate Name or Shareholder’s Name |  | Shares |  |  | ADRs (*) |  |  | Total |  |  | % of equity holding |
Santander Chile Holding S.A. |  |  | 66,822,519,695 |  |  |  | - |  |  |  | 66,822,519,695 |  |  |  | 35,46 |
Teatinos Siglo XXI Inversiones S.A. |  |  | 59,770,481,573 |  |  |  | - |  |  |  | 59,770,481,573 |  |  |  | 31,72 |
The Bank of New York Mellon |  |  |  |  |  |  | 12,799,964,871 |  |  |  | 12,799,964,871 |  |  |  | 6,79 |
Bancos por cuenta de terceros |  |  | 19,416,795,808 |  |  |  | - |  |  |  | 19,416,795,808 |  |  |  | 10,30 |
AFP por cuentas de terceros |  |  | 18,392,349,767 |  |  |  | - |  |  |  | 18,392,349,767 |  |  |  | 9,76 |
Corredoras de bolsa por cuenta de terceros |  |  | 5,029,151,233 |  |  |  | - |  |  |  | 5,029,151,233 |  |  |  | 2,67 |
Otros accionistas minoritarios |  |  | 6,214,863,847 |  |  |  | - |  |  |  | 6,214,863,847 |  |  |  | 3,30 |
Total |  |  | 175,646,161,923 |  |  |  | 12,799,964,871 |  |  |  | 188,446,126,794 |  |  |  | 100,00 |
(*) | American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets.
Corporate Name or Shareholder’s Name |  | Shares |  |  | ADRs (*) |  |  | Total |  |  | % of equity holding |
Santander Chile Holding S.A. |  |  | 66,822,519,695 |  |  |  | - |  |  |  | 66,822,519,695 |  |  |  | 35.46 |
Teatinos Siglo XXI Inversiones S.A. |  |  | 59,770,481,573 |  |  |  | - |  |  |  | 59,770,481,573 |  |  |  | 31.72 |
The Bank New York Mellon |  |  | - |  |  |  | 19,845,850,871 |  |  |  | 19,845,850,871 |  |  |  | 10.53 |
Banks on behalf of third parties |  |  | 16,841,385,216 |  |  |  | - |  |  |  | 16,841,385,216 |  |  |  | 8.94 |
Pension funds (AFP) on behalf of third parties |  |  | 13,742,809,166 |  |  |  | - |  |  |  | 13,742,809,166 |  |  |  | 7.29 |
Stock brokers on behalf of third parties |  |  | 6,122,497,451 |  |  |  | - |  |  |  | 6,122,497,451 |  |  |  | 3.25 |
Other minority holders |  |  | 5,300,582,822 |  |  |  | - |  |  |  | 5,300,582,822 |  |  |  | 2.81 |
Total |  |  | 168,600,275,923 |  |  |  | 19,845,850,871 |  |  |  | 188,446,126,794 |  |  |  | 100.00 |
Corporate Name or Shareholder’s Name |  | Shares |  |  | ADRs (*) |  |  | Total |  |  | % of equity holding |
Santander Chile Holding S.A. |  |  | 66,822,519,695 |  |  |  | - |  |  |  | 66,822,519,695 |  |  |  | 35.46 |
Teatinos Siglo XXI Inversiones S.A. |  |  | 59,770,481,573 |  |  |  | - |  |  |  | 59,770,481,573 |  |  |  | 31.72 |
The Bank New York Mellon |  |  | - |  |  |  | 20,710,338,871 |  |  |  | 20,710,338,871 |  |  |  | 10.99 |
Banks on behalf of third parties |  |  | 17,318,500,798 |  |  |  | - |  |  |  | 17,318,500,798 |  |  |  | 9.19 |
Pension funds (AFP) on behalf of third parties |  |  | 11,949,134,854 |  |  |  | - |  |  |  | 11,949,134,854 |  |  |  | 6.34 |
Stock brokers on behalf of third parties |  |  | 5,870,596,720 |  |  |  | - |  |  |  | 5,870,596,720 |  |  |  | 3.12 |
Other minority holders |  |  | 6,004,554,283 |  |  |  | - |  |  |  | 6,004,554,283 |  |  |  | 3.18 |
Total |  |  | 167,735,787,923 |  |  |  | 20,710,338,871 |  |  |  | 188,446,126,794 |  |  |  | 100.00 |
Schedule of Basic and Diluted Earnings Per Share | As of December 31, 2023, 2022 and 2021 the basic and diluted earnings per share were as follows:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
a) Basic earnings per share |  |  |  |  |  |  |  |  |
Total attributable to the shareholders of the Bank |  |  | 579,427 |  |  |  | 792,276 |  |  |  | 842,467 |
Weighted average number of outstanding shares |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |
Basic earnings per share (in Ch$) |  |  | 3.075 |  |  |  | 4.204 |  |  |  | 4.471 |
Basic earnings per share from continuing operations (in Ch$) |  |  | 3.075 |  |  |  | 4.204 |  |  |  | 4.471 |
Basic earnings per share from discontinued operations (in Ch$) |  |  |  |  |  |  | - |  |  |  | - |
b) Diluted earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Total attributable to the shareholders of the Bank |  |  | 579,427 |  |  |  | 792,276 |  |  |  | 842,467 |
Weighted average number of outstanding shares |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |
Adjusted number of shares |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |  |  |  | 188,446,126,794 |
Diluted earnings per share (in Ch$) |  |  | 3.075 |  |  |  | 4.204 |  |  |  | 4.471 |
Diluted earnings per share from continuing operations (in Ch$) |  |  | 3.075 |  |  |  | 4.204 |  |  |  | 4.471 |
Diluted earnings per share from discontinued operations (in Ch$) |  |  | - |  |  |  | - |  |  |  | - |
Schedule of Other Comprehensive Income from Available for Sale Investments and Cash Flow Hedges | Other comprehensive income from available for sale investments and cash flow hedges:
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Debt instruments at FVOCI |  |  |  |  |  |  |  |  |
As of January 1, |  |  | (109,392 | ) |  |  | (112,223 | ) |  |  | 102,855 |
Gain (losses) on the re-measurement of debt instruments at FVOCI, before tax |  |  | 145,257 |  |  |  | 23,004 |  |  |  | (233,109 | )
Recycling from other comprehensive income to income for the year |  |  | - |  |  |  | - |  |  |  | - |
Net realized gains |  |  | (125,613 | ) |  |  | (20,173 | ) |  |  | 18,031 |
Subtotals |  |  | 19,644 |  |  |  | 2,831 |  |  |  | (215,078 | )
Total |  |  | (89,748 | ) |  |  | (109,392 | ) |  |  | (112,223 | )
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |
As of January 1, |  |  | (118,838 | ) |  |  | (373,581 | ) |  |  | (136,765 | )
Gains (losses) on the re-measurement of cash flow hedges, before tax |  |  | 243,366 |  |  |  | 298,029 |  |  |  | (211,122 | )
Recycling adjustments on cash flow hedges, before tax |  |  | (40,112 | ) |  |  | (43,286 | ) |  |  | (25,694 | )
Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction |  |  | - |  |  |  | - |  |  |  | - |
Subtotals |  |  | 203,254 |  |  |  | 254,743 |  |  |  | (236,816 | )
Total |  |  | 84,416 |  |  |  | (118,838 | ) |  |  | (373,581 | )
Other comprehensive income, before taxes |  |  | (5,332 | ) |  |  | (228,230 | ) |  |  | (485,804 | )
Income tax related to other comprehensive income components |  |  |  |  |  |  |  |  |  |  |  |
Income tax relating to debt instruments at FVOCI |  |  | 24,231 |  |  |  | 29,536 |  |  |  | 31,650 |
Income tax relating to cash flow hedges |  |  | (22,792 | ) |  |  | 32,086 |  |  |  | 100,867 |
Total |  |  | 1,439 |  |  |  | 61,622 |  |  |  | 132,517 |
Other comprehensive income, net of tax |  |  | (3,893 | ) |  |  | (166,608 | ) |  |  | (353,287 | )
Attributable to: |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of the Bank |  |  | (5,242 | ) |  |  | (167,147 | ) |  |  | (353,849 | )
Non-controlling interest |  |  | 1,349 |  |  |  | 539 |  |  |  | 562 |
Schedule of Perpetual Bonds | As of December 31, 2023 and 2022 the balance of the perpetual bonds was as follow:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | MCh$ |  |  | MCh$ |
Perpetual bond |  |  | 608,721 |  |  |  | 590,247 |
Totals |  |  | 608,721 |  |  |  | 590,247 |
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | MCh$ |  |  | MCh$ |
US$ Bonds |  |  | 608,721 |  |  |  | 590,247 |
Total |  |  | 608,721 |  |  |  | 590,247 |
Schedule of Bank’s Debts, both Current and Non-Current | Debts classified as current are either demand obligations or will mature in one year or less. All other debts are classified as non-current. The Bank’s debts, both current and non-current, are summarised below:
|  | As of December 31, 2023 |  |  | As of December 31, 2022 |
|  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Perpetual bonds |  |  | - |  |  |  | 608,721 |  |  |  | 608,721 |  |  |  | - |  |  |  | 590,247 |  |  |  | 590,247 |
Total |  |  | - |  |  |  | 608,721 |  |  |  | 608,721 |  |  |  | - |  |  |  | 590,247 |  |  |  | 590,247 |
Schedule of Placement of Perpetual Bond | The terms of the perpetual bonds were as follows:
Series |  | Currency |  | Amount |  |  | Terms (years) |  |  | Interest Rate (Annual) |  |  | Issuance date |  | Principal Amount USD |  |  | Maturity date |
AT1 Bond |  | USD |  |  | 700,000,000 |  |  |  | - |  |  |  | 4.63 |  |  | 10-21-2021 |  |  | 700,000,000 |  |  |  | - |
Total USD |  |  |  |  | 700,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |  | 700,000,000 |  |  |  |  |
Schedule of Regulatory Capital Financial Instruments | The movement of the balance of regulatory capital financial instruments issued as of December 31, 2023 and 2022, is as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Balances as of January 01, |  |  | 590,247 |  |  |  | 598,136 |  |  |  | - |
New issuances |  |  |  |  |  |  | - |  |  |  | 564,356 |
Interest rate and fx exchange |  |  | 18,474 |  |  |  | (7,889 | ) |  |  | 33,780 |
Balances as of December 31, |  |  | 608,721 |  |  |  | 590,247 |  |  |  | 598,136 |

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