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Transactions With Related Parties
 12 Months Ended
Dec. 31, 2024
Related party transactions [abstract]  
Transactions With Related Parties TRANSACTIONS WITH RELATED PARTIES
In addition to affiliates and associated entities, the Bank’s “related parties” include its “key personnel” from the executive staff (members of the Bank’s Board of Directors and Managers of Banco Santander-Chile and its affiliates, together with their close relatives), as well as the entities over which the key personnel could exercise significant influence or control.
The Bank also considers the companies that are part of the Santander Group worldwide as related parties, since all of them have a common parent, i.e., Banco Santander S.A. (located in Spain).
Transactions between the Bank and its related parties are specified below, facilitate comprehension purposes, we have divided the information into four categories:
Santander Group Companies
This category includes all the companies that are controlled by the Santander Group around the world, and hence, it also includes the companies over which the Bank exercises any degree of control (affiliates and special-purpose entities).
Associated companies
This category includes the entities over which the Bank, in accordance with section b) of Note 1 to these Financial Statements, exercises a significant degree of influence and which generally belong to the group of entities known as “business support companies”.
Key personnel
This category includes members of the Bank’s Board of Directors and managers of Banco Santander-Chile and its affiliates, together with their close relatives.
Other
This category encompasses the related parties that are not included in the groups identified above and which are, in general, entities over which the key personnel could exercise significant influence or control.
The terms for transactions with related parties are equivalent to those which prevail in transactions made under market conditions or to which the corresponding considerations in kind have been attributed.
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
a.Loans to related parties
Loans and accounts receivable as well as contingent loans that correspond to related entities are as follows:
 As of December 31,
 202420232022
 Group
 entities 		Associates
entities		Key
personnel		Other Group
 entities 		Associates
entities		Key
personnel		Other Group
 entities 		Associates
 entities 		Key
personnel		Other
 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Loans and accounts receivable
Commercial loans922,232 23,570 2,557 - 750,419 49,284 3,272 978 680,624 118 3,185 280 
Mortgage loans- - 33,179 - - - 29,809 - - - 30,479 - 
Consumer loans- - 3,729 875 - - 6,388 - - - 6,540 - 
Loans and accounts receivable922,232 23,570 39,465 875 750,419 49,284 39,469 978 680,624 118 40,204 280 
             
Allowance for loan losses(809)(28)(498)- (1,037)(50)(361)(19)(2,213)(8)(164)(10)
Net loans921,423 23,542 38,967 875 749,382 49,234 39,108 959 678,411 110 40,040 270 
Guarantees1,031 - 31,590 110 1,032 - 31,489 115 - - - - 
Contingent loans            
Personal guarantees- - - - - - - - - - - - 
Letters of credit9,787 - - - 1,960 - - - 19,162 - - - 
Guarantees20,313 - - 394 438 - - 343 30,422 - - - 
Contingent loans30,100 - - 394 2,398 - - 343 49,584 - - - 
Allowance for contingent loans(21)- - (8)(4)- - - (41)- - - 
Net contingent loans30,079 - - 386 2,394 - - 343 49,543 - - - 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
Loan activity to related parties during 2024, 2023 and 2022 is shown below:
As of December 31,
202420232022
 Group
entities		Associates
entities		Key
Personnel		Other Group
entities (*) 		Associates
entities		Key
Personnel		Other Group
 entities (*) 		Associates
entities		Key
Personnel		Other
 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Opening balances as of January 1,752,817 49,284 39,469 1,321 730,208 118 40,204 280 607,378 192 29,889 219 
Loans granted274,130 4,025 13,638 90 101,819 65,320 13,177 5,389 179,540 29 18,115 156 
Loans payments(74,615)(29,739)(13,642)(142)(79,210)(16,154)(13,912)(4,348)(56,710)(103)(7,800)(95)
Total952,332 23,570 39,465 1,269 752,817 49,284 39,469 1,321 730,208 118 40,204 280 
(*)Loans with non-controlled companies (not-consolidated) amount MCh$3,348, MCh$27,544 and MCh$1,174 as of December 31, 2024, 2023 and 2022, respectively.
b.Assets and liabilities with related parties
As of December 31,
202420232022
 Group
 entities		Associates
 entities		Key
 personnel		OtherGroup
 entities		Associates
 entities		Key
personnel		OtherGroup
 entities		Associates
 entities		Key
personnel		Other
 MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$
Assets
Cash and deposits in banks162,452 - - - 666,062 - - - 280,364 - - - 
Financial assets at FVTPL            
Financial derivative contracts1,120,543 11,134 - - 967,020 267,679 - - 1,190,683 386,494 - - 
Other assets885,307 686,884 - - 686,950 550,400 - - 676,850 287,053 - - 
             
Liabilities            
Financial liabilities at FVTPL            
Financial derivative contracts1,757,184 13,143 - - 1,255,740 370,314 - - 1,695,284 326,149 - - 
Financial liabilities at amortised cost            
Deposits and other demand liabilities28,446 1,007 3,260 407 54,033 1,272 3,833 502 73,193 - 4,398 833 
Time deposits and other time liabilities140,475 - 4,996 69 145,649 - 9,894 1,589 10,376 - 9,442 1,102 
Obligations under repurchase agreements265,474 - - - 129,321 - - - 64,547 - - 18,135 
Interbank borrowing85,325 - - - 33,693 - - - 224,798 - - - 
Issued debt instruments941,320 - - - 1,081,123 - - - 1,001,310 - - - 
Other financial liabilities236,998 664,461 - - 257,915 435,093 - - 267,130 325,070 - - 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
c.Income (expense) recorded due to transactions with related parties
For the years ended December 31,
202420232022
Group
 entities 		Associates
 entities 		Key
 personnel 		Other Group
 entities 		Associates
 entities 		Key
 personnel 		OtherGroup
 entities 		Associates
 entities 		Key
 personnel 		Other
MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$MCh$ MCh$ MCh$ MCh$
Interest income and inflation-indexation adjustments(9,081)2,581 2,133 71 (45,542)1,471 1,717 (41)(44,196)(13)4,198 79 
Fee and commission income and expenses170,996 (63,150)208 21 176,603 87,987 250 24 157,236 86,581 261 15 
Net income (expense) from financial operations and net foreign exchange gain (loss) (*)329,701 134,224 - - 233,651 (162,980)- - (690,780)(47,993)(217)27 
Other operating income and expenses3,755 (588)- - 964 (734)- - 1,311 (619)- - 
Key personnel compensation and expenses- - (41,598)- - - (43,941)- - - (32,739)- 
Administrative and other expenses(123,221)(4,677)- - (95,561)(1,120)- - (78,435)(82,771)- - 
(*)Primarily relates to derivative contracts used to financial hedge of exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries.
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
d.Transactions with related parties
Single transaction in the period with related parties not legal persons, which are not usual business operations of the Bank with their clients, and that exceed UF 2,000 (USD 77,289)
As of December 31, 2024Description of the transactionsEffect on income statementsEffect on balance sheet
Business nameCountryNature of
relationship
with the Bank		Type of
 service		TermRenewalIncome
MCh$		Expenses
MCh$		Account
receivable
MCh$		Account
payable
MCh$
Banco Santander, S.A.SpainGroupAdvisory servicesMonthlyContractual- 21,898 - 1,264 
Santander Back-Offices Globales Mayoristas, S.A.SpainGroupServicios de BackOfficeMonthlyContractual- 3,554 - - 
Santander Chile Holding S.A.ChileGroup
Leases
MonthlyContractual266 - 1 - 
Santander Factoring S.A.ChileGroup
Leases, Custody and gateway
MonthlyContractual44 412 20 103 
Bansa Santander S.A.ChileGroupAccounting servicesMonthlyContractual4 83 - - 
Gesban Santander Servicios Profesionales Contables LimitadaChileGroupAdvisory servicesMonthlyContractual57 762 - - 
Santander Global Services, S.L. UnipersonalSpainGroup
Leases
MonthlyContractual- 643 - - 
Santander Investment Chile LimitadaChileGroupIT ServicesMonthlyContractual- 4,925 3 310 
Santander Global Technology and Operations Chile limitadaChileGroupInstitucional servicesMonthlyContractual- 372 - 14 
Universia Chile S.A.ChileGroupProcurement ServicesMonthlyContractual7 435 - 84 
Aquanima Chile S.A.ChileGroup
Leases and others
MonthlyContractual- 1,904 - 351 
Santander Asset Management S.A. Administradora General de FondosChileGroupDerivatives clearingMonthlyContractual- 483 9,335 81 
Centro de Compensación Automatizado S.A.ChileAssociatedCard operatorMonthlyContractual- 3,501 - - 
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.ChileAssociatedSale channel serviceMonthlyContractual- 733 - - 
Zurich Santander Seguros Generales Chile S.A.ChileAssociatedIT Services and Service deskMonthlyContractual187 - 1,883 - 
F1rst Tecnologia e Inovação Ltda.BrazilGroupIT Services and OperationsMonthlyContractual- 26,816 - - 
Santander Global Technology and Operations, S.L. UnipersonalSpainGroupDigital paymentsMonthlyContractual- 57,379 132 - 
PagoNxt Trade Services, S.L.SpainGroupIT ServicesMonthlyContractual- 620 - - 
Klare Corredora de Seguros S.A.ChileGroupData processing and transmissionMonthlyContractual78 - 267 - 
Universia Holding, S.L.SpainGroupAdvisory servicesMonthlyContractual- 77 - - 
Santander Global Cards & Digital Solutions, S.L.SpainGroupAdvisory servicesMonthlyContractual- 515 - - 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
As of December 31, 2023Description of the transactionsEffect on income statementsEffect on balance sheet
Business nameCountryNature of
relationship
with the Bank		Type of
 service		TermRenewalIncome
 MCh$		Expenses
 MCh$		Account
 receivable
 MCh$		Account payable
 MCh$
Banco Santander, S.A.SpainGroupConsulting ServicesMonthlyContractual- 18,929 - 18,715 
Santander Back-Offices Globales Mayoristas, S.A.SpainGroupBack Office servicesMonthlyContractual- 3,216 - - 
Santander Chile Holding S.A.ChileGroup
Leases
MonthlyContractual255 - 2 - 
Santander Factoring S.A.ChileGroup
Leases, Custody and Portal
MonthlyContractual42 418 20 51 
Gesban Santander Servicios Profesionales Contables LimitadaChileGroupAccounting ServicesMonthlyContractual60 1,104 - - 
Santander Global Services, S.L.SpainGroup
Consulting services
MonthlyContractual- 639 - - 
Santander Investment Chile LimitadaChileGroupLeasesMonthlyContractual- 4,725 - 29 
Santander Global Technology and Operations Chile limitadaChileGroup
IT Services
MonthlyContractual- 306 - 9 
Universia Chile S.A.ChileGroup
Institutional Services
MonthlyContractual4 377 - - 
Aquanima Chile S.A.ChileGroupProcurement ServicesMonthlyContractual- 1,943 - 112 
Santander Asset Management S.A. Administradora General de FondosChileGroupLeases and OtherMonthlyContractual- 676 747 78 
Centro de Compensación Automatizado S.A.ChileAssociatedDerivatives clearingMonthlyContractual- 3,615 - - 
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.ChileAssociated
Card operator
MonthlyContractual- 646 - - 
Zurich Santander Seguros Generales Chile S.A.ChileAssociatedChannel Usage ServicesMonthlyContractual205 - 1,667 - 
F1rst Tecnologia e Inovação Ltda.BrazilGroupIT Services and Service DeskMonthlyContractual- 8,723 - - 
Santander Global Technology and Operations, S.L. UnipersonalSpainGroupIT services and Ops,MonthlyContractual- 52,948 - - 
PagoNxt Trade Services, S.L.SpainGroupDigital paymentsMonthlyContractual- 400 - - 
Mercury Trade Finance Solutions, S.p.A.ChileGroup
IT Services
MonthlyContractual- 183 - - 
Banco Santander, S.A.SpainGroupAdvisory servicesMonthlyContractual- 18,929 - 18,715 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
e.Payments to Board members and key management personnel
The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the “Personnel salaries and expenses” and/or “Administrative expenses” items of the Consolidated Statements of Income, corresponds to the following categories:
For the years ended December 31,
202420232022
MCh$MCh$MCh$
Personnel compensation21,652 21,409 20,280 
Board members’ salaries and expenses1,794 1,711 1,692 
Bonuses or gratifications17,814 16,402 17,794 
Stock-based benefits (*)(825)2,119 (1,169)
Seniority compensation15 2,312 6 
Pension plans– (1,251)849 
Training expenses– 38 50 
Health funds393 374 357 
Other personnel expenses755 (386)791 
Total41,598 42,728 40,650 
(*)Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions.
f.Composition of key personnel
As of December 31, 2024, 2023 and 2022, the composition of the Bank’s key personnel is as follows:
N° of executives
PositionAs of December 31,
202420232022
Director111111
Manager125122124
Total key personnel136133135