Banco Santander Chile Posts Strong Q2 Growth

Banco Santander Chile (BSAC) has released an update.

Banco Santander Chile reported a robust second quarter in 2024, with net income attributable to shareholders surging by 81.1% from the previous quarter and achieving a remarkable Return on Average Equity (ROAE) of 20.7%. This performance is credited to a significant 54.5% increase in Net Interest and Readjustment Income (NII) compared to the same period last year, bolstered by lower funding costs and favorable interest margins. Additionally, the bank experienced a strong recovery in its Net Interest Margin (NIM), reaching 3.6% for the quarter.

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