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Reporting Segments | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Entity's Operating Segments [Abstract] |
Reporting Segments | REPORTING SEGMENTS The Bank manages and measures the performance of its operations by business segments. The reporting is based on the Bank's internal information system for management of the segments established by the Bank. Inter-segment transactions are conducted under normal commercial terms and conditions. Each segment's assets, liabilities, and results include items directly attributable to the segment on which they can be allocated reasonably. A business segment comprises clients to whom a differentiated product offer is directed while being homogeneous in terms of their performance and measured similarly. To achieve the strategic objectives established by senior management and adapt to changing market conditions, the Bank periodically makes adjustments to its organization. These adjustments, in turn, have varying degrees of impact on how the Bank is managed or administered. During 2024, the Bank maintains the general criteria applied in 2023, with the addition of dividing the Retail segment (formerly Individuals and SMEs) between Retail and Wealth Management & Insurance segments. For comparative purposes, the 2023 data has been revised to include these modifications. The Bank has the reportable segments noted below: Retail It includes individuals and small to middle-sized companies (SMEs) with an annual income of less than UF400,000. This segment offers various services, including consumer loans, credit cards, commercial loans, foreign exchange, mortgage loans, debit cards, current accounts, savings products, and brokerage of mutual fund brokerage, securities and insurance. Additionally, SME clients are offered government-guaranteed loans, leasing and factoring. Wealth Management & Insurance This segment comprises the Insurance and Private Banking businesses, also coordinating the distribution of the different investment products and services to the rest of the Santander Group's Divisions in Chile. Santander Insurance's business offers both personal and business insurance products such as, health, life, travel, savings, personal protection, auto, unemployment, among others. Finally, to high-net-worth clients, Santander Private Banking offers everything from transactional products and services (credits, cards, foreign trade, purchase/sale of shares) to sophisticated products and services such as international investment accounts, structured funds, alternative investment funds, wealth management and open architecture. Middle-market This segment includes companies with annual sales exceeding 400,000 UF without a cap (for specialized industries in the Metropolitan Region, annual sales exceeding 100,000 UF without a cap). It also encompasses institutional organizations such as universities, government agencies, municipalities, regional governments, and real estate companies undertaking projects for third-party sales, as well as all construction companies with annual sales exceeding 100,000 UF without a cap. A wide range of products is offered to this segment, including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, transactional services, treasury services, financial consulting, savings products, mutual funds, and insurance brokerage. Additionally, specialized services are provided to real estate companies for financing primarily residential projects, aiming to increase the sale of mortgage loans. Corporate and Investment Banking (CIB) This segment offers a wide range of products, including commercial loans, leasing, factoring, foreign trade, credit cards, checking accounts, transactional services, treasury services, financial consulting, investment banking, savings products, mutual funds, and insurance brokerage. This segment services firms with annual sales exceeding EUR 500 million, EBITDA over EUR 150 million, and assets exceeding EUR 1 billion. For financial institutions, the requirement is assets greater than 10 trillion Chilean pesos. This segment incorporates the Treasury Division, which provides sophisticated financial products primarily to companies in the Wholesale Banking and Corporate Banking areas. It includes products such as short-term financing and funding, brokerage services, derivatives, and other solutions tailored to client needs. The Treasury area also manages position intermediation and the proprietary investment portfolio. NOTE 03 - REPORTING SEGMENTS, continued Corporate Activities and Other This segment includes Financial Management, which performs the global management of the structural exchange rate position, the structural interest rate risk, and liquidity levels. The latter is managed through the implementation of issuances and other institutional funding mechanisms. Likewise, it also manages capital levels, capital assignment to the different business segments, transfer prices and the cost of financing its own investment portfolio. This usually entails that this segment has a negative contribution to the results. Furthermore, this segment incorporates all intra-segment results and all activities not allocated to a segment or product with customers. This segment includes Financial Management, which is responsible for globally managing the structural foreign exchange position, the structural interest rate risk, the inflation gap, and liquidity levels and risk of the Bank. The latter is addressed through issuances and other funding mechanisms. Additionally, it manages capital levels, allocates capital to each business segment, determines transfer prices, and the cost of funding its own investment portfolio. These activities typically result in a negative contribution to overall results. Furthermore, this segment incorporates all intra-segment results and all activities that are not assigned to a specific segment or customer-related product. The accounting policies of the segments are the same as those described in the breakdown of accounting standards and are customized to meet the Bank's management needs. The Bank's earnings stem mostly from income from interest, commissions, and financial transactions. Accordingly, the highest decision-making authority for each segment relies primarily on interest income, fee income and provision expenses to assess segment performance and thus make decisions on the resource allocation to the segments. NOTE 03 - REPORTING SEGMENTS, continued The tables below show the Bank’s balances by reporting segment for the years ended December 31, 2024, 2023 and 2022:
| For the year ended December 31, 2024
| Loans and accounts receivable from customers (1) |  | Deposits and other demand deposits (2) |  | Net interest income |  | Net fee and commission income |  | Net income from financial operations (3) |  | Provision for loan losses |  | Support expenses (4) |  | Other operating income and expenses (5) |  | Net income before taxes |  | Income taxes |  | Net income
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Retail | 31,942,515 |  |  | 13,016,941 |  |  | 1,559,556 |  |  | 454,194 |  |  | 61,031 |  |  | (446,842) |  |  | (715,845) |  |  | (68,395) |  |  | 843,699 |  |  | (219,396) |  |  | 624,303 |
Wealth Management & Insurance | 818,155 |  |  | 2,773,286 |  |  | 57,773 |  |  | 23,183 |  |  | 2,661 |  |  | (2,430) |  |  | (33,494) |  |  | 471 |  |  | 48,164 |  |  | (12,681) |  |  | 35,483 |
Middle-market | 6,044,799 |  |  | 4,299,293 |  |  | 314,230 |  |  | 43,954 |  |  | 20,533 |  |  | (53,695) |  |  | (43,343) |  |  | (2,317) |  |  | 279,362 |  |  | (79,109) |  |  | 200,253 |
CIB | 2,301,491 |  |  | 8,357,393 |  |  | 235,140 |  |  | 54,901 |  |  | 176,705 |  |  | (2,995) |  |  | (97,420) |  |  | (2,653) |  |  | 363,678 |  |  | (97,559) |  |  | 266,119 |
Corporate activity and others | 216,884 |  |  | 2,912,321 |  |  | (379,913) |  |  | (29,166) |  |  | (10,411) |  |  | 1,372 |  |  | (17,878) |  |  | (19,312) |  |  | (455,308) |  |  | 189,000 |  |  | (266,308) |
Total | 41,323,844 |  |  | 31,359,234 |  |  | 1,786,786 |  |  | 547,066 |  |  | 250,519 |  |  | (504,590) |  |  | (907,980) |  |  | (92,206) |  |  | 1,079,595 |  |  | (219,745) |  |  | 859,850 |
(1)Loans receivable from clients at amortized cost plus the balance owed by banks, without deducting their respective provisions (2)Includes deposits, demand liabilities, and other time deposits. (3)Includes the sum of net income (loss) from financial operations and net foreign exchange gain (loss). (4)Includes the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. (5)Corresponds to the sum of other operating income and expenses, the result of non-current assets and groups that can be disposed of for sale not eligible as discontinued operations and profit or loss on investments in companies. NOTE 03 - REPORTING SEGMENTS, continued
| For the year ended December 31, 2023
| Loans and accounts receivable from customers (1) |  | Deposits and other demand deposits (2) |  | Net interest income |  | Net fee and commission income |  | Net income from financial operations |  | Provision for loan losses |  | Support expenses (3) |  | Other operating income and expenses (5) |  | Net income before taxes |  | Income taxes |  | Net income
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Retail | 31,072,731 |  |  | 13,487,482 |  |  | 1,476,793 |  |  | 384,415 |  |  | 53,012 |  |  | (295,144) |  |  | (701,820) |  |  | 29,561 |  |  | 946,817 |  |  | (250,222) |  |  | 696,595 |
Wealth Management & insurance | 729,012 |  |  | 2,095,310 |  |  | 53,882 |  |  | 20,462 |  |  | 2,992 |  |  | (77) |  |  | (30,724) |  |  | 2,398 |  |  | 48,933 |  |  | (12,719) |  |  | 36,214 |
Middle-market | 6,026,504 |  |  | 3,808,484 |  |  | 310,374 |  |  | 37,394 |  |  | 20,926 |  |  | (37,515) |  |  | (41,176) |  |  | 105 |  |  | 290,108 |  |  | (85,261) |  |  | 204,847 |
CIB | 3,089,036 |  |  | 8,275,044 |  |  | 246,636 |  |  | 49,793 |  |  | 183,871 |  |  | 10,418 |  |  | (90,944) |  |  | 2,519 |  |  | 402,293 |  |  | (105,017) |  |  | 297,276 |
Corporate Activity & others | (105,397) |  |  | 2,009,448 |  |  | (994,636) |  |  | 10,576 |  |  | 41,654 |  |  | (467) |  |  | (13,396) |  |  | (40,497) |  |  | (996,766) |  |  | 355,671 |  |  | (641,095) |
Total | 40,811,886 |  |  | 29,675,768 |  |  | 1,093,049 |  |  | 502,640 |  |  | 302,455 |  |  | (322,785) |  |  | (878,060) |  |  | (5,914) |  |  | 691,385 |  |  | (97,548) |  |  | 593,837 |
(1)Loans receivable from clients at amortized cost plus the balance owed by banks, without deducting their respective provisions (2)Includes deposits, demand liabilities, and other time deposits. (3)Includes the sum of net income (loss) from financial operations and net foreign exchange gain (loss). (4)Includes the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. (5)Corresponds to the sum of other operating income and expenses, the result of non-current assets and groups that can be disposed of for sale not eligible as discontinued operations and profit or loss on investments in companies. NOTE 03 - REPORTING SEGMENTS, continued
| For the year ended December 31, 2022
| Loans and accounts receivable from customers (1) |  | Deposits and other demand deposits (2) |  | Net interest income |  | Net fee and commission income |  | Net income from financial operations |  | Provision for loan losses |  | Support expenses (3) |  | Other operating income and expenses (5) |  | Net income before taxes |  | Income taxes |  | Net income
| MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  |  |  |  |  |  |  | MCh$
Retail | 30,357,086 |  |  | 15,562,879 |  |  | 1,277,436 |  |  | 329,849 |  |  | 44,208 |  |  | (289,841) |  |  | (683,944) |  |  | (62,219) |  |  | 615,489 |  |  | 171,927 |  |  | 787,416 |
Wealth Management & insurance | 363,202 |  |  | 891,933 |  |  | 25,943 |  |  | 33,010 |  |  | 1,339 |  |  | (243) |  |  | (17,376) |  |  | (471) |  |  | 42,202 |  |  | 11,699 |  |  | 53,901 |
Middle-market | 4,844,595 |  |  | 3,200,894 |  |  | 212,274 |  |  | 28,884 |  |  | 11,008 |  |  | (57,253) |  |  | (39,831) |  |  | (3,364) |  |  | 151,718 |  |  | 42,740 |  |  | 194,458 |
CIB | 3,137,086 |  |  | 6,644,834 |  |  | 146,773 |  |  | 37,804 |  |  | 158,937 |  |  | (8,082) |  |  | (91,926) |  |  | (2,184) |  |  | 241,322 |  |  | 66,117 |  |  | 307,439 |
Corporate Activity & others | 27,432 |  |  | 764,475 |  |  | (92,314) |  |  | (22,278) |  |  | 1,686 |  |  | (1,075) |  |  | (21,943) |  |  | (13,701) |  |  | (149,625) |  |  | (45,896) |  |  | (195,521) |
Total | 38,729,401 |  |  | 27,065,015 |  |  | 1,570,112 |  |  | 407,269 |  |  | 217,178 |  |  | (356,494) |  |  | (855,020) |  |  | (81,939) |  |  | 901,106 |  |  | 246,587 |  |  | 1,147,693 |
(1)Loans receivable from clients at amortized cost plus the balance owed by banks, without deducting their respective provisions (2)Includes deposits, demand liabilities, and other time deposits. (3)Includes the sum of net income (loss) from financial operations and net foreign exchange gain (loss). (4)Includes the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. (5)Corresponds to the sum of other operating income and expenses, the result of non-current assets and groups that can be disposed of for sale not eligible as discontinued operations and profit or loss on investments in companies

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