XML 81 R54.htm IDEA: XBRL DOCUMENT v3.24.0.1

Financial Derivatives Contracts for Hedge Accounting (Tables)

12 Months Ended

Dec. 31, 2023

Financial Derivatives Contracts for Hedge Accounting [Abstract]

Schedule of Bank Holds Portfolio of Derivative Instruments

As of December 31, 2023 and 2022 the Bank holds the following portfolio of derivative instruments for hedging purposes:

		As of December 31, 2023
		Notional amount																																Fair value
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total				Assets				Liabilities
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Fair value hedge derivatives
Interest rate swaps			-				12,562				3,656,708				2,971,608				2,219,138				349,780				612,115				9,821,911				96,729				1,319,275
Cross currency swaps			-				87,445				216,904				902,332				4,075,196				497,502				1,764,227				7,543,606				251,810				174,041
Subtotal			-				100,007				3,873,612				3,873,940				6,294,334				847,282				2,376,342				17,365,517				348,539				1,493,316
Currency forwards			-				43,242				177,000				2,207,656				8,745				-				-				2,436,643				5,539				64,624
Cross currency swaps			-				459,517				1,144,579				5,286,020				6,210,538				1,205,343				1,676,266				15,982,263				251,451				908,827
Subtotal			-				502,759				1,321,579				7,493,676				6,219,283				1,205,343				1,676,266				18,418,906				256,990				973,451
Total			-				602,766				5,195,191				11,367,616				12,513,617				2,052,625				4,052,608				35,784,423				605,529				2,466,767

		As of December 31, 2022
		Notional amount																																Fair value
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total				Assets				Liabilities
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Fair value hedge derivatives
Interest rate swaps			-				206,630				447,773				722,845				7,300,878				608,013				1,728,916				11,015,055				213,478				1,166,339
Cross currency swaps			-				84,959				706,859				1,512,048				3,149,733				1,200,889				1,462,413				8,116,901				75,848				333,097
Subtotal			-				291,589				1,154,632				2,234,893				10,450,611				1,808,902				3,191,329				19,131,956				289,326				1,499,436
Cash flow hedge derivatives
Currency forwards			-				176,664				1,839,766				554,696				-				-				-				2,571,126				823				35,332
Cross currency swaps			-				486,032				932,204				2,019,072				6,703,372				2,077,260				2,261,958				14,479,898				187,613				1,254,026
Subtotal			-				662,696				2,771,970				2,573,768				6,703,372				2,077,260				2,261,958				17,051,024				188,436				1,289,358
Total			-				954,285				3,926,602				4,808,661				17,153,983				3,886,162				5,453,287				36,182,980				477,762				2,788,794

Schedule of Fair Value Hedges

Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2023 and 2022, classified by term to maturity:

		As of December 31, 2023
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Debt instruments at FVOCI
Chilean sovereign bonds			-				-				-				-				-				-				301,803				301,803
US Treasury bonds			-				-				-				-				655,838				349,780				262,335				1,267,953
Chilean Treasury bonds																											50,795				50,795
Time deposits and other time liabilities
Time deposits			-				12,562				27,708				92,160				-				-				-				132,430
Instrumentos de deuda emitidos
Senior bonds			-				-				91,973				882,779				2,262,976				497,502				696,941				4,432,171
Subordinated bonds			-				87,445				-				-				183,946								505,998				777,389
Interbank borrowing
Chilean Central Bank loans			-				-				3,329,001				2,849,001								-				-				6,178,002
Total			-				100,007				3,448,682				3,823,940				3,102,760				847,282				1,817,872				13,140,543
Hedging instrument
Cross currency swaps			-				87,445				91,973				902,331				2,433,621				497,502				1,205,760				5,218,632
Forwards			-				12,562				3,356,709				2,921,609				669,139				349,780				612,112				7,921,911
Total			-				100,007				3,448,682				3,823,940				3,102,760				847,282				1,817,872				13,140,543

		As of December 31, 2022
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Loans and account receivable at amortised cost
Commercial loans			-				-				-				180,963				-				-				-				180,963
Debt instruments at FVOCI
US Treasury bonds			-				-				-				-				-				594,713				1,389,080				1,983,793
Time deposits and other time liabilities
Time deposits			-				206,630				447,773				873,822				141,539				-				-				1,669,764
Instrumentos de deuda emitidos
Senior bonds			-				-				-				122,638				2,569,632				1,038,634				757,861				4,488,765
Subordinated bonds			-				-				-				-				84,959				175,555				485,917				746,431
Interbank borrowing
Interbank loans			-				84,959				706,859				1,057,470				-				-				-				1,849,288
Chilean Central Bank loans			-				-				-				-				6,178,000				-				-				6,178,000
Total			-				291,589				1,154,632				2,234,893				8,974,130				1,808,902				2,632,858				17,097,004
Hedging instrument
Cross currency swaps			-				84,959				706,859				1,512,048				2,573,252				1,200,890				903,942				6,981,950
Forwards			-				206,630				447,773				722,845				6,400,878				608,012				1,728,916				10,115,054
Total			-				291,589				1,154,632				2,234,893				8,974,130				1,808,902				2,632,858				17,097,004

Schedule of Notional Amount of the Hedged

Below is the notional amount of the hedged items as of December 31, 2023 and 2022, and the period when the cash flows will be generated:

		As of December 31, 2023
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Loans and accounts receivable at amortised cost
Mortgage loans			-				232,909				596,597				3,889,412				4,192,353				766,685				1,077,483				10,755,439
Debt instruments at FVOCI
Chilean Treasury bonds			-				-				-				-				492,370				-				191,905				684,275
Time deposits and other time liabilities
Time deposits			-				-				21,861				392,453				8,744				-				-				423,058
Issued debt instruments
Senior bonds			-				-				-				-				331,104				-				-				331,104
Subordinated bonds			-				269,850				124,236				549,555				893,024				263,768				406,878				2,507,311
Interbank borrowings
Interbank loans			-				-				578,885				2,662,256				301,688				174,890				-				3,717,719
Total			-				502,759				1,321,579				7,493,676				6,219,283				1,205,343				1,676,266				18,418,906
Hedging instrument
Cross currency swaps			-				459,518				1,144,579				5,286,018				6,210,539				1,205,343				1,676,266				15,982,263
Currency forward			-				43,241				177,000				2,207,658				8,744				-				-				2,436,643
Total			-				502,759				1,321,579				7,493,676				6,219,283				1,205,343				1,676,266				18,418,906

		As of December 31, 2022
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Loans and accounts receivable at amortised cost
Mortgage loans			-				545,747				2,563,558				1,999,451				5,568,862				1,026,081				1,577,002				13,280,701
Debt instruments at FVOCI
Chilean Treasury bonds			-				-				-				-				-				492,370				191,906				684,276
Issued debt instruments
Senior bonds			-				-				-				-				315,999				-				-				315,999
Subordinated bonds			-				70,222				140,444				245,526				818,511				558,809				493,051				2,326,563
Interbank borrowings
Interbank loans			-				46,727				67,967				328,791				-				-				-				443,485
Total			-				662,696				2,771,969				2,573,768				6,703,372				2,077,260				2,261,959				17,051,024
Hedging instrument
Cross currency swaps			-				486,032				932,203				2,019,072				6,703,372				2,077,260				2,261,959				14,479,898
Currency forward			-				176,664				1,839,766				554,696				-				-				-				2,571,126
Total			-				662,696				2,771,969				2,573,768				6,703,372				2,077,260				2,261,959				17,051,024

Schedule of Forecasted Cash Flows for Interest Rate Risk

Below is an estimate of the periods in which cash flows are expected to be produced:

		As of December 31, 2023
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				-				-				-				-				-				-				-
Outflows			-				(7,483	)			(13,555	)			(68,956	)			(39,724	)			(7,913	)			(2,980	)			(140,611	)
Net flows			-				(7,483	)			(13,555	)			(68,956	)			(39,724	)			(7,913	)			(2,980	)			(140,611	)
Hedging instrument
Inflows			-				-				-				-				-				-				-				-
Outflows (*)			-				7,483				13,555				68,956				39,724				7,913				2,980				140,611
Net flows			-				7,483				13,555				68,956				39,724				7,913				2,980				140,611

(*) Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk.

		As of December 31, 2022
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				-				4,267				4,627				-				-				-				8,894
Outflows			-				(288	)			(733	)			(5,993	)			(10,273	)			(5,063	)			(4,310	)			(26,660	)
Net flows			-				(288	)			3,534				(1,366	)			(10,273	)			(5,063	)			(4,310	)			(17,766	)
Hedging instrument
Inflows			-				-				(4,267	)			(4,627	)			-				-				-				(8,894	)
Outflows (*)			-				288				733				5,993				10,273				5,063				4,310				26,660
Net flows			-				288				(3,534	)			1,366				10,273				5,063				4,310				17,766

(*) Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk.

Schedule of Forecasted Cash Flows for Inflation Risk

Forecasted cash flows for inflation risk:

		As of December 31, 2023
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				23,515				91,152				302,604				72,206				19,206				33,221				541,904
Outflows			-				(78,300	)			(379,379	)			(784,238	)			(552,738	)			(49,350	)			(39,017	)			(1,883,022	)
Net flows			-				(54,785	)			(288,227	)			(481,634	)			(480,532	)			(30,144	)			(5,796	)			(1,341,118	)
Hedging instrument
Inflows			-				78,300				379,379				784,238				552,738				49,350				39,017				1,883,022
Outflows			-				(23,515	)			(91,152	)			(302,604	)			(72,206	)			(19,206	)			(33,221	)			(541,904	)
Net flows			-				54,785				288,227				481,634				480,532				30,144				5,796				1,341,118

		As of December 31, 2022
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				112,209				410,507				397,542				1,197,961				393,717				702,610				3,214,546
Outflows			-				(10,882	)			(24,505	)			(20,551	)			(98,565	)			(52,368	)			(52,297	)			(259,168	)
Net flows			-				101,327				386,002				376,991				1,099,396				341,349				650,313				2,955,378
Hedging instrument
Inflows			-				10,882				24,505				20,551				98,565				52,368				52,297				259,168
Outflows			-				(112,209	)			(410,507	)			(397,542	)			(1,197,961	)			(393,717	)			(702,610	)			(3,214,546	)
Net flows			-				(101,327	)			(386,002	)			(376,991	)			(1,099,396	)			(341,349	)			(650,313	)			(2,955,378	)

Schedule of Forecasted Cash Flows for Exchange Rate Risk

Forecasted cash flows for exchange rate risk

		As of December 31, 2023
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				-				-				-				-				-				-				-
Outflows			-				(30,629	)			(168,812	)			(1,992,343	)			(22,684	)			(3,212	)			-				(2,217,680	)
Net flows			-				(30,629	)			(168,812	)			(1,992,343	)			(22,684	)			(3,212	)			-				(2,217,680	)
Hedging instrument
Inflows			-				-				-				-				-				-				-				-
Outflows			-				30,629				168,812				1,992,343				22,684				3,212				-				2,217,680
Net flows			-				30,629				168,812				1,992,343				22,684				3,212				-				2,217,680

		As of December 31, 2022
		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedged item
Inflows			-				-				-				-				-				-				-				-
Outflows			-				(5,687	)			(4,281	)			(20,192	)			(6,784	)			(3,208	)			(1,606	)			(41,758	)
Net flows			-				(5,687	)			(4,281	)			(20,192	)			(6,784	)			(3,208	)			(1,606	)			(41,758	)
Hedging instrument
Inflows			-				-				-				-				-				-				-				-
Outflows			-				5,687				4,281				20,192				6,784				3,208				1,606				41,758
Net flows			-				5,687				4,281				20,192				6,784				3,208				1,606				41,758

Schedule of Market Adjustment of Cash Flow Hedges Generated by Hedge Instruments

The accumulated effect of the mark to market adjustment of cash flow hedges generated by hedge instruments used in hedged cash flow was recorded in the Consolidated Statements of Changes in Equity, within other comprehensive income, as of December 31, 2023 and 2022, is as follows:

		As of December 31,
Hedged item		2023				2022
		MCh$				MCh$
Interbank loans			(10,675	)			(2,343	)
Time deposits and other time liabilities			516				-
Issued debt instruments			(9,684	)			415
Debt instruments at FVOCI			(4,235	)			(22,571	)
Loans and accounts receivable at amortised cost			108,494				(94,339	)
Total			84,416				(118,838	)

Schedule of Other Comprehensive Income to Income

The amounts recycling from other comprehensive income to income for the year related to cash flow hedges are as follows:

		For the years ended December 31,
		2023				2022				2021
		MCh$				MCh$				MCh$
Bond hedging derivatives			817				(826	)			(3,248	)
Interbank loans hedging derivatives			(4,775	)			(4,762	)			(286	)
Mortgage loans hedging derivatives			(36,154	)			(37,698	)			(22,160	)
Cash flow hedge net gain (loss)			(40,112	)			(43,286	)			(25,694	)

Schedule of Macro-Hedges

		Notional amount
As of December 31, 2023		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedge item
Loans and account receivable at amortised cost
Mortgage loans			-				-				-				-				-				-				377,928				377,928
Commercial loans			-				-				424,930				50,000				3,191,574				-				180,542				3,847,046
Total			-				-				424,930				50,000				3,191,574				-				558,470				4,224,974
Hedging instrument
Cross currency swaps			-				-				124,930				-				1,641,574				-				558,470				2,324,974
Interest rate swaps			-				-				300,000				50,000				1,550,000				-				-				1,900,000
Total			-				-				424,930				50,000				3,191,574				-				558,470				4,224,974

		Notional amount
As of December 31, 2022		Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Hedge item
Loans and account receivable at amortised cost
Mortgage loans			-				-				-				-				576,481				-				558,470				1,134,951
Commercial loans			-				-				-				-				900,000				-				-				900,000
Total			-				-				-				-				1,476,481				-				558,470				2,034,951
Hedging instrument
Cross currency swaps			-				-				-				-				576,481				-				558,470				1,134,951
Interest rate swaps			-				-				-				-				900,000				-				-				900,000
Total			-				-				-				-				1,476,481				-				558,470				2,034,951

X

- References

No definition available.

+ Details

Name:	bsac_DisclosureOfBanksPortfolioOfDerivativeInstrumentsTableTextBlock
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	bsac_FinancialDerivativesContractsForHedgeAccountingAbstract
Namespace Prefix:	bsac_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure about cash flow hedged of notional amount.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfCashFlowHedgedOfNotionalAmountExplanatory
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure about cash flow hedges amount reclassified from other comprehensive income.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfCashFlowHedgesAmountReclassifiedFromOtherComprehensiveIncomeExplanatory
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	bsac_ScheduleOfForecastedCashFlowsForExchangeRateRiskTextBlock
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure about forecasted cash flows for inflation risk.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfForecastedCashFlowsForInflationRiskExplanatory
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure about forecasted cash flows for interest rate risk.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfForecastedCashFlowsForInterestRateRiskExplanatory
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure about hedged elements and hedge instruments under fair value hedges classified by term maturity.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfHedgedElementsAndHedgeInstrumentsUnderFairValueHedgesClassifiedByTermMaturityExplanatory
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of macrohedges.

+ References

No definition available.

+ Details

Name:	bsac_ScheduleOfMacrohedges
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	bsac_ScheduleOfMarketAdjustmentOfCashFlowHedgesGeneratedByHedgeInstrumentsTableTextBlock
Namespace Prefix:	bsac_
Data Type:	dtr:textBlockItemType
Balance Type:	na
Period Type:	duration