Banco Santander Totters on Q1 Numbers

Banco Santander Chile (NYSE: BSAC) watched its shares lose ground Wednesday in early trading. The company announced today its results for the three-month period ended March 31, 2025.As of the reported date, the bank's net income attributable to shareholders totaled $278 billion ($1.47 per share and $0.62 per ADR), representing a 131.0% YoY increase and an ROAE of 25.7%, compared to an ROAE of 11.2% in 1Q24. The increase in results is explained by an increase in the bank's main revenue lines. Operating income increased 33.2% YoY, driven by better net interest and readjustment income.Compared to the previous quarter, 4Q24, the bank's net income attributable to shareholders increased by 0.5%. The UF variation in 1Q25 was slightly lower than in 4Q24, which reduced QoQ readjustment gains. This was offset by higher fees and results from financial transactions and improved expense control. This resulted in a ROAE of 25.7% in 1Q25, marking the fourth consecutive quarter with ROAEs above 20%.“At our Ordinary Shareholders' Meeting on April 22, 2025,” according to this morning’s news release, “the distribution of 70% of our 2024 earnings, amounting to $857,623 million, was approved. These earnings represent a dividend of $3.18571574 Chilean pesos per share, for a total of $600,336 million.”BSAC shares ditched 43 cents, or 1.8%, to $23.80.