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Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of risk management strategy related to hedge accounting [abstract]

Schedule of High, Low and Average Levels

High, low and average levels for each component for 2024 and 2023 were as follows:

VaR			2024 USD millions						2023 USD millions
Consolidated
High			4.06						6.81
Low			1.47						2.61
Average			2.40						4.09
Fixed-income investments
High			3.33						5.06
Low			1.41						2.11
Average			2.23						3.15
Variable-income investments
High			-						-
Low			-						-
Average			-						-
Foreign currency investments
High			3.93						5.79
Low			0.18						0.23
Average			1.55						2.20

Schedule of Market Risk Financial Management Portfolio

Market risk – Financial management portfolio – December 31, 2024 and 2023

			2024												2023
			Effect on financial income						Effect on capital						Effect on financial income						Effect on capital
Financial management portfolio – local currency (MCh$)
Loss limit			138,957						373,566						124,904						353,718
High			49,174						170,622						79,657						173,389
Low			482						87,335						41,151						88,382
Average			20,482						136,617						62,740						133,464
Financial management portfolio – foreign currency (USD millions)
Loss limit			178,937						198,819						157,400						174,889
High			13,104						61,137						17,775						91,935
Low			442						47,615						227						53,436
Average			5,169						53,651						9,718						70,397
Financial management portfolio – consolidated (in MCh$)
Loss limit			138,957						373,566						124,904						353,718
High			46,970						357,867						75,816						283,550
Low			—						279,293						34,663						246,664
Average			19,678						311,333						64,477						268,776

Schedule of Market Risk Exposure

The following table illustrates the exposure to market risk. The maximum exposure to long-term interest rate risk is 35% of the regulatory capital and is approved by the Board of Directors. The maximum exposure to short-term interest rate risk is 55% of net interest income and readjustments plus interest rate sensitive commissions:

			As of december 31,
			2024						2023
			MCh$						MCh$
Market risk – trading protfolio
Exposure to rate risk			459,161						371,203
Exposure to currency risk			13,931						9,130
Interest rate option risk			-						-
Currency option risk			4,284						3,167
Total exposure of trading portfolio			477,376						383,500
10% of RWA			596,720						479,374
Subtotal			1,074,096						862,874
Limit = Regulatory capital			6,961,316						6,978,733
Available margin			5,887,220						6,115,859
Market risk – short-term financial management portfolio
Short Term Exposure to Interest Rate Risk			95,219						97,410
Exposure to Inflation Risk			149,306						161,222
Short-term exposure of financial management portfolio			244,525						258,632
Limit = 35% net (net income from interest and readjustments + interest rates sensitive commissions)			909,152						575,483
Available margin			664,627						316,851
Market risk – long-term financial management portfolio
Long Term Exposure to Interest Rate Risk			697,405						1,057,637
Limit = 35% Regulatory capital			2,436,461						2,442,556
Available margin			1,739,056						1,384,919

Schedule of Quality Assets and its Related Provision

The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2024 and 2023:

December 31, 2024
Corporate loans
Corporate Portfolio			Stage 1						Stage 2						Stage 3						Total Corporate						Percentage						Stage 1						Stage 2						Stage 3						Total ECL Allowance (*)						Percentage
			MCh$						MCh$						MCh$						MCh$						%						MCh$						MCh$						MCh$						MCh$						%
A1			29,920						-						-						29,920						0.07		%				1						-						-						1						0.00		%
A2			656,322						-						-						656,322						1.59		%				314						-						-						314						0.03		%
A3			2,264,646						53,680						-						2,318,326						5.61		%				1,901						307						-						2,208						0.19		%
A4			2,487,497						36,047						-						2,523,544						6.11		%				3,567						268						-						3,835						0.32		%
A5			2,749,203						41,239						777						2,791,219						6.75		%				6,645						1,046						63						7,754						0.65		%
A6			2,121,986						90,538						158						2,212,682						5.35		%				9,236						2,849						41						12,126						1.02		%
B1			613,063						192,023						-						805,086						1.95		%				4,458						9,526						-						13,984						1.17		%
B2			19,332						134,107						-						153,439						0.37		%				143						7,416						-						7,559						0.63		%
B3			-						136,901						2,500						139,401						0.34		%				-						7,545						696						8,241						0.69		%
B4			-						65,613						33,129						98,742						0.24		%				-						3,598						7,725						11,323						0.95		%
C1			-						29,632						185,235						214,867						0.52		%				-						2,771						60,382						63,153						5.30		%
C2			-						23,450						112,479						135,929						0.33		%				-						1,052						27,208						28,260						2.37		%
C3			-						1,785						66,545						68,330						0.17		%				-						237						28,343						28,580						2.40		%
C4			-						1,600						132,213						133,813						0.32		%				-						105						59,724						59,829						5.02		%
C5			-						1,710						97,139						98,849						0.24		%				-						302						67,170						67,472						5.66		%
C6			-						4,139						129,079						133,218						0.32		%				-						300						105,471						105,771						8.87		%
Subtotal			10,941,969						812,464						759,254						12,513,687						30.28		%				26,265						37,322						356,823						420,410						35.25		%
			Other loans
			Stage 1						Stage 2						Stage 3						Total Other loans						Percentage						Stage 1						Stage 2						Stage 3						Total ECL Allowance						Percentage
			MCh$						MCh$						MCh$						MCh$						%						MCh$						MCh$						MCh$						MCh$						%
Other Commercial			4,321,411						527,752						489,587						5,338,750						12.92		%				47,042						34,834						183,118						264,994						22.22		%
Mortgage			14,762,656						1,944,932						852,181						17,559,769						42.49		%				10,347						60,330						155,693						226,370						18.98		%
Consumer			4,928,084						679,756						303,798						5,911,638						14.31		%				58,679						87,609						134,628						280,916						23.55		%
Subtotal			24,012,151						3,152,440						1,645,566						28,810,157						69.72		%				116,068						182,773						473,439						772,280						64.75		%
Total			34,954,120						3,964,904						2,404,820						41,323,844						100.00		%				142,333						220,095						830,262						1,192,690						100.00		%

(*)Include MCh$165,935 of ECL allowance calculated on an Individual basis.

NOTE 37 - RISK MANAGEMENT, continued

December 31, 2023
Corporate loans
Corporate Portfolio			Stage 1						Stage 2						Stage 3						Total Corporate						Percentage						Stage 1						Stage 2						Stage 3						Total ECL Allowance (*)						Percentage
			MCh$						MCh$						MCh$						MCh$						%						MCh$						MCh$						MCh$						MCh$						%
A1			28,006						-						-						28,006						0.07		%				3						-						-						3						0.00		%
A2			785,654						-						-						785,654						1.93		%				452						-						-						452						0.04		%
A3			2,803,228						29,491						-						2,832,719						6.94		%				1,982						138						-						2,120						0.18		%
A4			2,482,922						12,265						-						2,495,187						6.11		%				2,474						60						-						2,534						0.22		%
A5			2,732,502						47,927						765						2,781,194						6.81		%				5,825						668						62						6,555						0.57		%
A6			2,055,756						106,770						-						2,162,526						5.30		%				8,905						2,227						-						11,132						0.97		%
B1			331,242						285,756						106						617,104						1.51		%				3,787						11,137						58						14,982						1.30		%
B2			23,222						165,717						1,201						190,140						0.47		%				242						7,717						289						8,248						0.72		%
B3			-						98,961						5,618						104,579						0.26		%				-						4,990						2,135						7,125						0.62		%
B4			-						64,864						32,177						97,041						0.24		%				-						3,682						8,656						12,338						1.07		%
C1			-						36,299						178,279						214,578						0.53		%				-						3,104						59,363						62,467						5.43		%
C2			-						8,595						77,832						86,427						0.21		%				-						733						25,793						26,526						2.31		%
C3			-						4,612						99,892						104,504						0.26		%				-						550						35,077						35,627						3.10		%
C4			-						2,385						104,054						106,439						0.26		%				-						311						45,025						45,336						3.94		%
C5			-						1,182						110,548						111,730						0.27		%				-						191						70,909						71,100						6.18		%
C6			-						1,940						112,428						114,368						0.28		%				-						206						95,689						95,895						8.34		%
Subtotal			11,242,532						866,764						722,900						12,832,196						31.44		%				23,670						35,714						343,056						402,440						35.00		%
			Other loans
			Stage 1						Stage 2						Stage 3						Total other loans						Percentage						Stage 1						Stage 2						Stage 3						Total ECL Allowance						Percentage
			MCh$						MCh$						MCh$						MCh$						%						MCh$						MCh$						MCh$						MCh$						%
Other Commercial			4,375,334						486,303						446,264						5,307,901						13.01		%				37,913						31,921						187,322						257,156						22.36		%
Mortgage			14,635,723						1,713,185						724,531						17,073,439						41.83		%				8,651						53,371						154,111						216,133						18.79		%
Consumer			4,512,156						790,276						295,918						5,598,350						13.72		%				57,429						83,897						132,936						274,262						23.85		%
Subtotal			23,523,213						2,989,764						1,466,713						27,979,690						68.56		%				103,993						169,189						474,369						747,551						65.00		%
Total			34,765,745						3,856,528						2,189,613						40,811,886						100.00		%				127,663						204,903						817,425						1,149,991						100.00		%

(*)Include MCh$155,903 of ECL allowance calculated on an Individual basis.

Schedule of Residual Maturity Over Measured that have not Expired

Other commercial																								Corporate loans
Mortgages						Other loans						Revolving (Credit cards)						SME						SME						Middle market						Corporate and  Investment Banking
28.19		%				49.32		%				16.91		%				49.32		%				18.50		%				16.36		%				Santander Group criteria

Other commercial																								Corporate loans
Mortgages						Other loans						Revolving (Credit cards)						SME						SME						Middle market						Corporate and  Investment Banking
17.61		%				30.53		%				12.28		%				30.53		%				14.20		%				15.41		%				Santander Group criteria

The qualitative criteria are based on the existence of evidence that leads to an automatic classification of financial instruments in stage 2, mainly 30 days overdue and restructured. Thresholds of SICR are calibrated based on the average ECL of exposures that exceed materiality threshold for 30 days or more consecutive days or with a level of credit risk considered to be “significant”.

Other commercial

Corporate loans

Mortgages

Other loans

Revolving (Credit cards)

SME

SME

Middle market

Corporate and Investment Banking

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Irregular portfolio > 30 days

Restructured marked for monitoring

Restructured marked for monitoring

Restructured marked for monitoring

Restructured marked for monitoring

Restructured marked for monitoring

Restructured marked for monitoring

Restructured marked for monitoring

Clients considered to be substandard or in incompliance (pre-legal action)

Clients considered to be substandard or in incompliance (pre-legal action)

Clients considered to be substandard or in incompliance (pre-legal action)

Schedule of Allowance and Exposure at Default (Ead) of the Loans

The following table shows the allowance and assets before allowance of the loans that meet the conditions:

			2024						2023
			MCh$						MCh$
Loans and account receivable			382,737						347,477
Allowance for ECL – discounted cash flow methodology			165,935						155,903

The estimation of the collective basis expected credit loss allowance considers qualitative and quantitative information that may affect changes in credit risk and the development of significant assumptions related to the probabilities of default and loss given default, related to forward looking information, multi-factor analysis such as type of portfolio or transaction and macroeconomic factors.

			2024						2023
			MCh$						MCh$
Loans and account receivable (commercial, mortgage and consumer loans)			40,941,107						40,464,409
Allowance for ECL – collective basis			1,026,755						994,088

Schedule of Modified Loans

The following table shows modification that results in deregonition and therefore and new operations:

			As of December 31, 2024																								As of December 31, 2023
			Stage 1						Stage 2						Stage 3						Total						Stage 1						Stage 2						Stage 3						Total
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Gross carrying amount			34,954,120						3,964,904						2,404,820						41,323,844						34,765,745						3,856,528						2,189,613						40,811,886
Modified loans			-						814,092						1,236,176						2,050,268						-						739,474						1,026,843						1,766,317
%			-						20.53		%				51.40		%				4.96		%				-						19.17		%				46.90		%				4.33		%
ECL allowance			142,333						220,095						830,262						1,192,690						127,663						204,903						817,425						1,149,991
Modified loans									52,474						403,125						455,599						-						48,419						360,975						409,394
%			-						23.84		%				48.55		%				38.20		%				-						23.63		%				44.16		%				35.60		%

Schedule of Macro Economical Forward

The annual growth forecasts for the most relevant macroeconomic variables for each of our scenarios mainly used during 2024 are the same used in 2023, and are as follows:

						Average estimates 2024
						Unfavorable scenario 2						Unfavorable  scenario 1						Base scenario						Favorable scenario 1						Favorable scenario 2
Chilean Central Bank interest rates						0.85		%				2.32		%				4.25		%				6.18		%				7.65		%
Unemployment rate						10.03		%				8.89		%				7.40		%				5.91		%				4.77		%
Housing Price growth						(1.02)		%				0.62%						2.78		%				4.94		%				6.59		%
GDP growth						(0.80)		%				1.10		%				3.58		%				6.06		%				7.97		%
Consumer Price Index						1.07		%				0.67		%				3.00		%				5.33		%				7.07		%

Schedule of Probabilities

Local scenario												Global scenario
						Probability weighting												Probability weighting
Favorable scenario 2						10		%				Favorable scenario 1						30		%
Favorable scenario 1						15		%				Base scenario						40		%
Base scenario						50		%				Unfavorable scenario 1						30		%
Unfavorable scenario 1						15		%
Unfavorable scenario 2						10		%

Schedule of Allowance Sensibility

The ECL allowance sensibility to future macro-economic conditions is as follows:

			As of December 31,
			2024						2023
			MCh$						MCh$
Reported ECL allowance			1,193,854						1,150,116
Gross carrying amount			41,399,911						40,917,268
Reported ECL Coverage			2.81		%				2.81		%
ECL amount by scenarios
Favorable scenarios 2			1,013,732						970,411
Favorable scenarios 1			1,082,296						1,032,708
Base scenarios			1,158,397						1,104,368
Unfavorable scenarios 2			1,234,421						1,176,477
Unfavorable scenarios 2			1,284,831						1,224,340
Coverage ratio by scenarios
Favorable scenarios 2			2.45		%				2.37		%
Favorable scenarios 1			2.61		%				2.52		%
Base scenarios			2.80		%				2.70		%
Unfavorable scenarios 2			2.98		%				2.88		%
Unfavorable scenarios 2			3.10		%				2.99		%

Schedule of Risk Concentration

The following table shows the risk concentration by industry, and by stage before ECL allowance of loans and account receivable from customers and Interbak loans at amortised cost:

			As of December 31,
			2024																								2023
			Stage 1						Stage 2						Stage 3						Total						Stage 1						Stage 2						Stage 3						Total
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Commercial loans
Agriculture and livestock			427,626						67,010						81,628						576,264						478,676						70,687						74,110						623,473
Fruit cultivation			404,013						93,737						114,766						612,516						444,600						107,445						94,564						646,609
Forest			122,759						10,480						19,542						152,781						108,232						10,901						20,390						139,523
Fishing			389,857						3,876						6,904						400,637						290,978						14,655						7,763						313,396
Mining			454,735						5,817						6,595						467,147						228,565						5,578						7,656						241,799
Oil and natural gas			11,040						277						208						11,525						3,146						199						191						3,536
Manufacturing Industry:
Food, beverages and tobacco			296,297						25,383						19,684						341,364						301,193						15,366						25,278						341,837
Textile, leather and footwear			64,297						6,236						9,262						79,795						64,068						5,679						7,345						77,092
Wood and furniture			83,304						1,827						6,656						91,787						78,856						2,438						6,894						88,188
Cellulose, paper and printing			51,886						7,925						4,773						64,584						61,702						9,035						4,995						75,732
Chemicals and petroleum derivatives			129,701						1,415						1,223						132,339						108,011						3,187						1,306						112,504
Metallic, non-metallic, machinery, or other			365,864						13,202						17,924						396,990						319,322						13,870						21,715						354,907
Other manufacturing industries			214,957						11,143						21,523						247,623						194,742						19,248						19,392						233,382
Electricity, gas, and wáter			747,969						52,240						5,025						805,234						910,813						10,497						5,032						926,342
Home building			206,906						12,840						28,582						248,328						164,118						29,377						23,118						216,613
Non-residential construction			512,234						20,843						29,644						562,721						472,579						28,395						48,231						549,205
Wholesale trade			1,560,877						104,488						171,345						1,836,710						1,420,083						105,396						163,872						1,689,351
Retail trade, restaurants and hotels			1,367,697						79,765						105,453						1,552,915						1,501,379						74,975						87,365						1,663,719
Transport and storage			693,354						50,741						55,381						799,476						600,729						56,933						54,860						712,522
Telecommunications			504,811						17,183						10,265						532,259						450,555						16,341						7,261						474,157
Financial services			610,158						33,019						1,135						644,312						575,666						2,656						912						579,234
Real estate services			2,010,898						205,007						153,315						2,369,220						2,237,404						231,680						154,694						2,623,778
Social services and other community services			4,032,140						515,762						378,008						4,925,910						4,602,449						518,529						332,220						5,453,198
Subtotal			15,263,380						1,340,216						1,248,841						17,852,437						15,617,866						1,353,067						1,169,164						18,140,097
Mortgage loans			14,762,656						1,944,932						852,181						17,559,769						14,635,723						1,713,185						724,531						17,073,439
Consumer loans			4,928,084						679,756						303,798						5,911,638						4,512,156						790,276						295,918						5,598,350
Total			34,954,120						3,964,904						2,404,820						41,323,844						34,765,745						3,856,528						2,189,613						40,811,886

Schedule of Loans and Account Receivable from Customers and Interbak Loans

The following table shows past due information related to loans and account receivable from customers and Interbak loans at amortised cost, and related ECL allowance:

			As of December 31, 2024
			Gross carrying amount																								ECL allowance
			Stage 1						Stage 2						Stage 3						TOTAL						Stage 1						Stage 2						Stage 3						TOTAL
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Interbank loans
Current			31,283						-						-						31,283						1						-						-						1
Commercial loans
Current			15,183,222						1,150,507						363,076						16,696,805						68,684						51,797						114,622						235,103
1-30 days past due			45,590						124,071						89,139						258,800						4,449						12,171						26,294						42,914
31-90 days past due			3,285						65,549						97,072						165,906						173						8,166						27,564						35,903
Over 90 days past due			-						89						699,554						699,643						-						22						371,461						371,483
Mortgage loans
Current			14,746,681						1,385,985						234,901						16,367,567						7,403						30,391						28,974						66,768
1-30 days past due			12,809						362,378						85,437						460,624						2,358						13,182						13,452						28,992
31-90 days past due			3,166						196,569						140,323						340,058						586						16,757						22,938						40,281
Over 90 days past due			-						-						391,520						391,520						-						-						90,329						90,329
Consumer loans
Current			4,903,711						455,722						69,745						5,429,178						52,683						34,770						29,390						116,843
1-30 days past due			21,323						135,203						29,654						186,180						5,638						27,780						12,065						45,483
31-90 days past due			3,050						88,115						81,657						172,822						358						24,865						35,037						60,260
Over 90 days past due			-						716						122,742						123,458						-						194						58,136						58,330
Total			34,954,120						3,964,904						2,404,820						41,323,844						142,333						220,095						830,262						1,192,690

			As of December 31, 2023
			Gross carrying amount																								ECL allowance
			Stage 1						Stage 2						Stage 3						TOTAL						Stage 1						Stage 2						Stage 3						TOTAL
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Interbank loans
Current			68,440																		68,440						2																		2
Commercial loans
Current			15,505,706						1,181,694						362,298						17,049,698						58,096						49,896						119,514						227,506
1-30 days past due			41,357						102,214						90,367						233,938						3,357						9,164						33,921						46,442
31-90 days past due			2,363						69,159						166,427						237,949						128						8,575						57,548						66,251
Over 90 days past due			-						-						550,072						550,072						-						-						319,395						319,395
Mortgage loans
Current			14,612,117						1,285,324						222,874						16,120,315						8,224						34,149						39,964						82,337
1-30 days past due			19,150						278,114						101,086						398,350						327						11,923						21,627						33,877
31-90 days past due			4,456						149,747						192,972						347,175						100						7,299						37,612						45,011
Over 90 days past due			-						-						207,599						207,599						-						-						54,908						54,908
Consumer loans
Current			4,492,189						561,846						61,444						5,115,479						54,038						32,294						26,654						112,986
1-30 days past due			18,497						133,011						26,198						177,706						3,150						25,139						10,968						39,257
31-90 days past due			1,470						95,419						94,189						191,078						241						26,464						39,259						65,964
Over 90 days past due			-						-						114,087						114,087						-						-						56,055						56,055
Total			34,765,745						3,856,528						2,189,613						40,811,886						127,663						204,903						817,425						1,149,991

Schedule of Financial Assets and Associated Collateral

The following table show the maximum exposure to credit risk by class of financial asset, associated collateral and the net exposure to credit risk:

			As of December 31,
			2024																								2023
			Maximum exposure to credit risk						Collateral						Net exposure						Associated ECL						Maximum exposure to  credit risk						Collateral						Net exposure						Associated ECL
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Interbank loans			31,283						11						31,272						1						68,440						3,677						64,763						2
Commercial loans			17,821,154						10,014,312						7,806,842						685,403						18,071,657						9,893,336						8,178,321						659,594
Mortgage loans			17,559,769						17,367,966						191,803						226,370						17,073,439						16,589,333						484,106						216,133
Consumer Loans			5,911,638						558,906						5,352,732						280,916						5,598,350						586,050						5,012,300						274,262
Contingent loans exposure			2,850,495						467,467						2,383,028						18,389						2,701,525						378,648						2,322,877						21,105
Total			44,174,339						28,408,662						15,765,677						1,211,079						43,513,411						27,451,044						16,062,367						1,171,096

Schedule of Maximum Exposure to Credit Risk

For financial assets recognised in the Consolidated Statements of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution by financial asset and off-balance sheet commitments of the Bank’s maximum exposure to credit risk as of December 31, 2024 and 2023, without deduction of collateral, security interests or credit improvements received:

									As of December 31,
									2024						2023
			Note						MCh$						MCh$
Deposits in banks			4						2,695,560						2,723,282
Cash items in process of collection			4						572,552						812,524
Financial assets for trading at FVTPL			5
Financial derivative contracts									12,309,770						10,119,486
Financial assets held for trading									329,327						98,308
Financial assets at FVOCI			6
Debt financial instruments									2,687,485						4,536,025
Other financial instruments									74,903						105,257
Financial derivative contracts for hedge accounting			7						843,628						605,529
Financial assets at amortised cost			8
Debt financial instruments									5,176,005						8,176,895
Interbank loans									31,282						68,438
Loans and account receivable at amortised cost /									40,099,872						39,593,457
Off-balance commitments:
Letters of credit issued									308,407						262,496
Foreign letters of credit confirmed									2,208,507						1,641,510
Performance guarantees									10,352,459						9,490,141
Available credit lines									365,932						494,104
Personal guarantees									406						813
Other irrevocable credit commitments									194,801						313,505
Total									78,250,896						79,041,770

Schedule of Fair Value of Derivative Instruments

Below, our foreign exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1. As of December 31, 2024, considering fair value of derivative instruments.

Counterpart			Country						Classification						Derivative instruments (market adjusted)						Deposits						Loans						Financial Investments						Total Exposure
															USD millions
Santander Bank Hong Kong			Hong Kong						2						-						1						7						-						8
Santander Bank Mexico			Mexico						3						2						-						-						-						2
Santander Bank EEUU *			EEUU						1						37						130						-						-						167
Santander UK PLC			UK						1						-						2						-						-						2

*Includes BSCH SA New York and Santander Investment Securites

Our exposure to Banco Santander Spain is as follows:

Counterpart

Country

Classification

Derivative instruments (market adjusted)

Deposits

Loans

Financial Investments

Total Exposure

Banco Santander España

Spain

1

1

5

-

-

6

Schedule of Security Interests, Collateral, or Credit Improvements

Below is the detail of security interests, collateral, or credit improvements provided to the Bank as of December 31, 2024 and 2023:

			As of December 31,
			2024						2023
			MCh$						MCh$
Non-impaired financial assets
Properties/mortgages			27,463,548						29,279,845
Investments and others			11,083,172						5,300,893
Impaired financial assets
Properties/ mortgages			3,162,938						2,444,084
Investments and others			354,348						293,347
Total			42,064,006						37,318,169

Schedule of Breakdown of Bank's Fixed Income by Levels

These assets are divided into three levels in accordance with Basel III standards, with Level 1 assets being the most liquid and Level 3 assets being the least liquid. Level 1 assets are bonds from Chilean Goverment entities, Central Bank bonds and United States Treasury bonds.

			As of December 31,
ALAC			2024						2023
			MCh$						MCh$
Level 1: cash and cash equivalent			2,416,812						1,969,547
Level 2: fixed income			7,241,318						6,072,282
Level 2: fixed income			4,517						6,240
Total			9,662,647						8,048,069

Schedule of Liquidity Coverage Ratio

			As of December 31,
Liquidity Coverage Ratio			2024						2023
			%						%
LCR			191						212

Schedule of Net Stable Funding Ratio

			As of December 31,
Net Stable Funding Ratio			2024						2023
			%						%
NSFR			106						106

Schedule of Breakdown by Maturity

In accordance with the provision of the BCCh, the liquidity position is measured and controlled through the difference between the cash outflows, related to liabilities and expense accounts, and cash inflows, which are related to asset and income accounts, for a certain term or time band, which is refered as term mismatch.

The liquidity policy on an Adjusted Base was presented and approved by the Board of Banco Santander Chile. Term mismatches are calculated severally for local currency and foreign currency.

Term mismatches will be made on the following time bands:

-First time band: up to 7 days, inclusive

-Second time band: from 8 days to 15 days, inclusive

-Third time band: from 16 days to 30 days, inclusive

-Fourth time band: from 31 days to 90 days, inclusive

NOTE 37 - RISK MANAGEMENT, continued

			As of December 31, 2024
			Individual																		Consolidated
			Up to 7 days						Up to 15 days						Up to 30 days						Up to 7 days						Up to 15 days						Up to 30 days
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Cash flow receivable (assets) and income			2,471,457						1,642,561						1,834,873						2,468,737						1,642,561						1,834,873
Cash flow payable (liabilities) and expenses			2,127,447						2,481,618						2,058,265						2,111,033						2,481,618						2,058,265
Mismatch			344,010						(839,057)						(223,392)						357,704						(839,057)						(223,392)
Mismatch affected by limits															(718,439)																		(704,745)
Limits:
1 time capital															4,292,440																		4,396,833
Margin available															3,574,001																		3,692,088
% used															17		%																16		%

			As of December 31, 2023
			Individual																		Consolidated
			Up to 7 days						Up to 15 days						Up to 30 days						Up to 7 days						Up to 15 days						Up to 30 days
			MCh$						MCh$						MCh$						MCh$						MCh$						MCh$
Cash flow receivable (assets) and income			2,298,917						1,113,501						1,112,052						2,296,445						1,113,501						1,112,052
Cash flow payable (liabilities) and expenses			1,840,243						835,978						1,250,098						1,818,643						835,978						1,250,098
Mismatch			458,674						277,523						(138,046)						477,802						277,523						(138,046)
Mismatch affected by limits															598,151																		617,279
Limits:
1 time capital															4,367,159																		4,491,893
Margin available															4,965,310																		5,109,172
% used															14		%																14		%

Schedule of Main Sources of Financing with Third Parties

The main sources of financing with third parties are the following:

			As of December 31,
Main sources of financing			2024						2023
			MCh$						MCh$
Deposits and other demand obligations			14,260,609						13,537,826
Time deposits			17,098,625						16,137,942
Bank obligations			4,337,947						10,366,499
Debt instruments issued and regulatory capital			10,737,354						10,423,704
Total			46,434,535						50,465,971

Schedule of Net Losses from Operational Risks

Exposure to net loss, gross loss and recovery of gross loss due to operational risk event

			As of December 31,
			2024						2023
			MCh$						MCh$
Expenses for the gross loss period due to operational risk events
Internal fraud			3,153						1,367
External fraud			33,786						7,202
Labor Practices and Business Safety			7,129						6,887
Clients, products and business practices			809						950
Damage to physical assets			347						267
Business interruption and system failures			290						964
Process execution, delivery and management			6,505						7,303
Subtotal			52,019						24,940
Recoveries of expenses in the period due to operational risk events
Internal fraud			(1,720)						-
External fraud			(27,586)						(5,810)
Labor Practices and Business Safety			(2,160)						(1,276)
Clients, products and business practices			(250)						(189)
Damage to physical assets			(2)						(12)
Business interruption and system failures			(112)						(800)
Process execution, delivery and management			(1,555)						(2,885)
Subtotal			(33,385)						(10,972)
Net loss from operational risk events			18,634						13,968

Summary of the Changes to the Minimum Capital Requirements

Below is a summary of the changes to the minimum capital requirements:

			As of December 31,
Capital requirements			2024						2023
			MCh$						MCh$
Pillar II charge			—		%				—		%
Systemic Charge			1.13		%				0.75		%
Counter-cyclical Capital buffer			0.50		%				—		%
Capital Conservation buffer			2.50		%				1.88		%
Tier T2			2.00		%				2.00		%
AT1			1.50		%				1.50		%
CET1			4.50		%				4.50		%
Total			12.13		%				10.63		%

Schedule of Total Assets, Risk-Weighted Assets, and Components of Effective Equity

Total assets, risk-weighted assets, and components of effective equity

						Total assets, risk-weighted assets and components of effective equity according to Basel III						Consolidated global 31-12-2024 MCh$						Consolidated global 31-12-2023 MCh$
1						Total assets according to the statement of financial position						68,458,932						70,857,886
2						Investment in subsidiaries that are not consolidated												-
3						Assets discounted from regulatory capital, other than item 2						13,243,643						10,823,906
4						Credit equivalents						3,402,423						3,446,909
5						Contingent credits						2,836,980						2,604,665
6						Assets generated by the intermediation of financial instruments						18,622						33,260
7						= (1-2-3+4+5-6) Total assets for regulatory purposes						61,436,070						66,052,294
8.a						Assets weighted for credit risk, estimated according to the standard methodology (RAW)						29,921,944						30,333,749
8.b						Assets weighted for credit risk, estimated according to internal methodologies (AWCR)						-						-
8						Market Risk Weighted Assets (MRWA)						5,967,201						4,793,740
10						Operational Risk Weighted Assets (OPWA)						4,923,679						4,424,739
11.a						= (8.a/8.b+9+10) Risk Weighted Assets (RWA)						40,812,824						39,552,228
11.b						= (8.a/8.b+9+10) Risk-weighted assets, after applying the output floor (RWA)						40,812,824						39,552,228
12						Shareholders equity						4,292,440						4,367,159
13						Non-controlling interest						104,394						124,735
14						Goodwill						-						-
15						Excess minority investment						-						-
16						= (12+13-14-15) Common Equity Equivalent Tier 1 Capital (CET1)						4,396,834						4,491,894
17						Additional deductions to common equity tier 1, other than item 2						128,425						94,013
18						= (16-17-2) Common Equity Tier 1 (CET1)						4,268,409						4,397,881
19						Voluntary (additional) provisions charged as additional capital tier 1 (AT1)						-						-
20						Subordinated bonds imputed as additional capital level 1 (AT1)						-						-
21						Preferred shares attributed to additional capital tier 1 (AT1)						-						-
22						Perpetual bonds attributed to additional capital level 1 (AT1)						693,382						608,721
23						Discounts applied to AT1						-						-
24						= (19+20+21+22-23) Additional Tier 1 Capital (AT1)						693,382						608,721
25						= (18+24) Equity Tier 1						4,961,791						5,006,602
26						Voluntary (additional) provisions allocated as Tier 2 (T2) capital						293,000						293,000
27						Subordinated bonds imputed as Tier 2 capital (T2)						1,706,525						1,679,130
28						= (26+27) Capital nivel 2 equivalente (T2)						1,999,525						1,972,130
29						Discounts applied to T2						-						-
30						= (28-29) Tier 2 Capital (T2)						1,999,525						1,972,130
31						= (25+30) Effective equity						6,961,316						6,978,732
32						Additional basic capital required for the constitution of the conservation buffer						1,020,321						741,604
33						Additional basic capital required to set up the countercyclical buffer						204,064						-
34						Additional core capital required for banks rated as systemic						459,144						296,642
35						Additional capital required for the evaluation of the adequacy of effective capital (Pillar 2)						-						-

Schedule of Solvency Indicators and Regulatory Compliance Indicators According to Basel III

Solvency indicators and regulatory compliance indicators according to Basel III

						Solvency indicators and regulatory compliance indicators according to Basel III						Consolidated global 31-12-2024 %						Consolidated global 31-12-2023 %
1						Leverage indicator (T1_I18/T1_I7)						6.95		%				6.66		%
1.a						Leverage indicator that the bank must meet, considering the minimum requirements						3.00		%				3.00		%
2						Basic capital indicator (T1_I18/T1_I11,b)						10.46		%				11.12		%
2.a						Basic capital indicator that the bank must meet, considering the minimum requirements						6.13		%				5.25		%
2.b						Capital buffer shortfall
3						Tier 1 capital indicator (T1_I25/T1_I11,b)						12.16		%				12.66		%
3.a						Tier 1 capital indicator that the bank must meet, considering the minimum requirements						7.63		%				6.75		%
4						Effective equity indicators (T1_I31/T1_I11,b)						17.06		%				17.64		%
4.a						Effective equity indicator that the bank must meet, considering the minimum requirements						9.63		%				8.75		%
4.b						Effective equity indicator that the bank must meet, considering the charge for article 35 bis, if applicable						8.00		%				8.00		%
4.c						Effective equity indicator that the bank must meet, considering the minimum requirements, conservation buffer and anti-cyclical buffer						12.13		%				10.63		%
5						Credit rating						A						A
						Regulatory compliance indicators for solvency
6						Voluntary (additional) provisions allocated to Tier 2 capital (T2) in relation to APRCs (T1_I26/ (T1_I8,a or I8,b)						0.98		%				0.97		%
7						Subordinated bonds allocated to Tier 2 (T2) capital in relation to Tier 2 capital						39.98		%				38.18		%
8						Additional Tier 1 capital (AT1) in relation to basic capital (T1_I24/T1_I18)						16.24		%				13.84		%
9						Voluntary provisions (additional) and subordinated bonds that are charged to additional capital level 1 (AT1) in relation to the RWAs (T1_I19+T1_I20 / T1_I11,b)						0.00		%				0.00		%

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Summary Of The Changes To The Minimum Banking Regulation Capital Requirements

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The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

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The disclosure of financial liabilities. [Refer: Financial liabilities]

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The explanation of the credit risk management practices and how they relate to the recognition and measurement of expected credit losses.

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The disclosure of information about the collateral held as security and other credit enhancements (for example, quantification of the extent to which collateral and other credit enhancements mitigate credit risk) for financial assets that are credit-impaired at the reporting date.

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The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]]

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