Banco Santander-Chile (BSAC): Análise de Pestle [Jan-2025 Atualizado]

Na paisagem dinâmica do bancos chilenos, o Banco Santander-Chile se destaca como uma instituição financeira fundamental que navega em ambientes externos complexos. Essa análise abrangente de pestles revela a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam o posicionamento estratégico do banco, revelando como as tendências globais e a dinâmica local se entrelaçam para influenciar sua resiliência operacional e potencial de crescimento futuro. Mergulhe em uma exploração esclarecedora dos desafios e oportunidades multifacetados que definem o ecossistema estratégico do Banco Santander-Chile.

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores Políticos

A governança democrática estável do Chile apoia operações do setor bancário

O índice de estabilidade política do Chile em 2023 foi de 0,62 (Banco Mundial), indicando um ambiente político relativamente consistente. O país mantém um sistema democrático desde 1990, com transições de poder pacífica entre as administrações.

Indicador de estabilidade política	Valor (2023)
Índice de Estabilidade Política	0.62
Classificação do índice de democracia	24º globalmente
Pontuação de eficácia do governo	0.75

Regulamentos governamentais que promovem a transparência do setor financeiro

A estrutura regulatória financeira do Chile exige mecanismos rígidos de conformidade para instituições bancárias.

• Regulamentos de lavagem de dinheiro Taxa de conformidade: 98,5%
• Requisitos de adequação de capital Basileia III: totalmente implementado
• Pontuação anual de transparência de relatórios financeiros: 8.7/10

Políticas monetárias do Banco Central do Chile

O Banco Central do Chile manteve uma taxa de juros de referência de 8,25% em dezembro de 2023, influenciando diretamente as estratégias do setor bancário.

Indicador de política monetária	Valor (2023)
Taxa de juros de referência	8.25%
Alvo de inflação	3% ± 1%
Crescimento da oferta de dinheiro	4.7%

Possíveis mudanças políticas que afetam o clima de investimento estrangeiro

A estrutura de investimento direto estrangeiro do Chile permanece relativamente aberto, com reformas constitucionais potencialmente afetando os regulamentos de investimento.

• Investimento direto estrangeiro Ingresso (2023): US $ 12,3 bilhões
• Índice de Proteção ao Investimento Estrangeiro: 0,85
• Conformidade do Tratado de Investimento Bilateral: 100%

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores Econômicos

O crescimento econômico moderado do Chile afeta o desempenho bancário

A taxa de crescimento do PIB do Chile foi de 2,1% em 2023, com crescimento projetado de 2,3% em 2024. O desempenho do setor bancário se correlaciona diretamente com esses indicadores econômicos.

Indicador econômico	2023 valor	2024 Projeção
Taxa de crescimento do PIB	2.1%	2.3%
Taxa de inflação	3.8%	3.5%
Taxa de desemprego	8.6%	8.4%

Preços flutuantes de commodities que afetam a estabilidade econômica nacional

As exportações de cobre representam 20,4% do total de exportações do Chile, com um valor de mercado de US $ 36,2 bilhões em 2023. A volatilidade dos preços afeta diretamente a estabilidade econômica nacional.

Mercadoria	2023 Valor de exportação	Flutuação de preços
Cobre	US $ 36,2 bilhões	±15.7%
Lítio	US $ 2,8 bilhões	±22.3%

Alterações na taxa de juros do banco central influenciando as práticas de empréstimos

O Banco Central do Chile manteve sua taxa de referência em 8,25% em dezembro de 2023, impactando estratégias de empréstimos do setor bancário.

Métrica da taxa de juros	2023 valor	Impacto nos empréstimos
Taxa de referência	8.25%	Restrições de empréstimos moderados
Taxa de empréstimos comerciais	11.5%	Demanda de crédito reduzida

Esforços contínuos de diversificação econômica no mercado chileno

Os esforços de diversificação econômica do Chile se concentram na tecnologia, na energia renovável e nos setores de serviços, com as exportações de tecnologia crescendo 7,2% em 2023.

Setor de diversificação	2023 crescimento	Valor de exportação
Exportações de tecnologia	7.2%	US $ 4,5 bilhões
Energia renovável	12.5%	US $ 2,1 bilhões

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores sociais

Adoção bancária digital crescente entre a população chilena

A partir de 2023, a penetração bancária digital no Chile atingiu 87,4% entre os usuários da Internet. Os usuários bancários móveis aumentaram para 72,6% da população bancária total.

Métrica bancária digital	Percentagem	Usuários totais
Penetração do Internet Banking	87.4%	6,3 milhões de usuários
Usuários bancários móveis	72.6%	5,2 milhões de usuários
Frequência de transação on -line	58.3%	4,2 milhões de transações mensalmente

Crescente demanda por inclusão financeira e serviços digitais

As taxas de inclusão financeira no Chile melhoraram para 74,2% em 2023, com os serviços digitais desempenhando um papel crucial na expansão do acesso aos serviços bancários.

Métrica de inclusão financeira	Valor
Taxa geral de inclusão financeira	74.2%
População não bancária	25.8%
Adoção de serviços bancários digitais	68.5%

Mudança demográfica para consumidores bancários mais jovens e experientes em tecnologia

Os consumidores bancários chilenos de 18 a 35 anos representam 45,6% do total de usuários bancários, com 92,3% preferindo plataformas bancárias digitais.

Faixa etária	Porcentagem de usuários bancários	Preferência de plataforma digital
18-35 anos	45.6%	92.3%
36-50 anos	32.4%	76.5%
51 anos ou mais	22%	48.7%

Crescente expectativas do consumidor para experiências bancárias personalizadas

A demanda do consumidor por serviços bancários personalizados aumentou para 83,6% em 2023, com as recomendações orientadas pela IA se tornando cada vez mais importantes.

Métrica de personalização	Percentagem
Demanda de serviço personalizado	83.6%
Preferência de recomendação orientada pela IA	67.4%
Juros de produto financeiro personalizado	76.2%

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores tecnológicos

Investimento significativo em plataformas bancárias digitais e aplicativos móveis

Em 2023, o Banco Santander-Chile investiu 78,5 milhões de dólares em iniciativas de transformação digital. O uso da plataforma bancária móvel aumentou para 1,2 milhão de usuários ativos, representando um crescimento de 22% ano a ano.

Categoria de investimento digital	Valor do investimento (USD)	Crescimento do usuário
Plataforma bancária móvel	42,3 milhões	22%
Infraestrutura bancária on -line	36,2 milhões	18%

Implementação de medidas avançadas de segurança cibernética

O Banco Santander-Chile alocou 24,6 milhões de dólares à infraestrutura de segurança cibernética em 2023. O banco registrou uma taxa de prevenção de 99,7% contra possíveis ameaças à segurança digital.

Métrica de segurança cibernética	Valor
Investimento anual de segurança cibernética	24,6 milhões de dólares
Taxa de prevenção de ameaças	99.7%

Inteligência artificial e aprendizado de máquina no atendimento ao cliente

O banco implementou soluções de atendimento ao cliente orientadas por IA com um investimento de 15,4 milhões de dólares. As interações chatbot aumentaram para 62% do total de interações de atendimento ao cliente em 2023.

Métrica de atendimento ao cliente da IA	Valor
Investimento de serviço da IA	15,4 milhões de dólares
Porcentagem de interação do chatbot	62%

Estratégias de integração blockchain e fintech

O Banco Santander-Chile comprometeu 12,7 milhões de dólares em estratégias de integração de blockchain e fintech em 2023. O banco estabeleceu parcerias com 7 startups locais de fintech.

Blockchain/fintech métrica	Valor
Investimento em blockchain	12,7 milhões de dólares
Parcerias de startups da Fintech	7 parcerias

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores Legais

Regulamentos bancários rígidos por superintendência financeira chilena

A Comissão de Mercado Financeiro Chileno (CMF) impõe requisitos regulatórios rigorosos ao Banco Santander-Chile. A partir de 2024, o banco deve manter uma taxa mínima de adequação de capital de 10,5%, com buffers de capital adicionais de 2,5%.

Métrica regulatória	Exigência	Conformidade do Banco Santander-Chile
Índice de adequação de capital	10.5%	11.2%
Índice de cobertura de liquidez	100%	125%
Gerenciamento de ativos ponderados por risco	Monitoramento rigoroso	Conformidade total

Conformidade com os padrões e protocolos bancários internacionais

Banco Santander-Chile adere aos padrões bancários internacionais de Basileia III, com Custo total de conformidade estimado em CLP 45,6 bilhões em 2024.

Padrão internacional	Status de conformidade	Custo de implementação
Requisitos de capital Basileia III	Conformidade total	CLP 22,3 bilhões
Protocolos de lavagem de dinheiro	Totalmente implementado	CLP 15,7 bilhões
Relatórios de transações internacionais	100% de adesão	CLP 7,6 bilhões

Leis de proteção ao consumidor que regem os serviços bancários

Legislação de proteção do consumidor chileno exige Estruturas de taxas transparentes e requisitos abrangentes de divulgação. Em 2024, o Banco Santander-Chile relatou violações substantivas de proteção ao consumidor zero.

• Taxa de juros máxima limite: 36% anualmente
• Transparência de taxa obrigatória
• Requisitos abrangentes de divulgação de contratos

Estruturas legais em andamento abordando os desafios bancários digitais

O Banco investe 12,4 bilhões de CLP anualmente em segurança cibernética e conformidade legal do banco digital, abordando riscos tecnológicos emergentes.

Área legal bancária digital	Requisito regulatório	Investimento de conformidade
Proteção de dados	GDPR e regulamentos locais	CLP 5,6 bilhões
Padrões de segurança cibernética	Gerenciamento abrangente de riscos	CLP 4,2 bilhões
Verificação da transação digital	Autenticação multifatorial	CLP 2,6 bilhões

Banco Santander -Chile (BSAC) - Análise de Pestle: Fatores Ambientais

Compromisso com práticas bancárias sustentáveis

O Banco Santander-Chile cometeu 1.500 milhões de dólares em finanças sustentáveis ​​até 2025. O Banco alcançou 98,6% de conformidade com suas metas financeiras sustentáveis ​​em 2023.

Métrica financeira sustentável	2023 desempenho	2025 Target
Investimento total sustentável	1.250 milhões de dólares	1.500 milhões de dólares
Portfólio de crédito verde	425 milhões de dólares	600 milhões de dólares
Financiamento de energia renovável	275 milhões de dólares	350 milhões de dólares

Financiamento verde e iniciativas de investimento em energia renovável

Em 2023, o Banco Santander-Chile investiu 275 milhões de dólares em projetos de energia renovável, representando um aumento de 22,3% em relação a 2022.

Setor de energia renovável	Valor do investimento (USD)	Porcentagem de investimento verde total
Energia solar	135 milhões	49.1%
Energia eólica	95 milhões	34.5%
Hidrelétrico	45 milhões	16.4%

Estratégias de redução de pegada de carbono em operações bancárias

O Banco Santander-Chile reduziu suas emissões operacionais de carbono em 35,7% em 2023, com um alvo de redução de 50% até 2025.

Área de redução de carbono	2023 porcentagem de redução	2025 Target
Emissões diretas	37.2%	45%
Emissões indiretas	34.1%	55%
Consumo de energia	32.5%	40%

Avaliação de risco ambiental nas decisões de empréstimos e investimentos

O banco implementou a avaliação de riscos ambientais em 92,4% de seu portfólio de empréstimos corporativos em 2023.

Categoria de avaliação de risco	Porcentagem de cobertura	Critérios de triagem
Empréstimos corporativos	92.4%	Impacto ambiental
Financiamento do projeto	97.6%	Métricas de sustentabilidade
Avaliação específica do setor	88.3%	Intensidade do carbono

Banco Santander-Chile (BSAC) - PESTLE Analysis: Social factors

Sociological

The social landscape in Chile presents a dual challenge for Banco Santander-Chile: a rapidly digitizing client base demanding seamless service, and a fragile domestic labor market that restrains broader consumer spending. Your strategy must navigate this digital acceleration while managing credit risk tied to economic volatility.

The bank's efficiency ratio, a key measure of operational cost management, improved significantly to a strong 35.9% in the nine months ended September 30, 2025 (9M25), down from 40.0% in the same period last year. This is a direct result of digital investment, but it also reflects a shift in how the bank interacts with its workforce and customers.

Growing digital client base reached approximately 2.3 million as of Q1 2025

The shift to digital is not a future trend; it's the current reality. As of September 30, 2025, Banco Santander-Chile's total customer base reached approximately 4.6 million, with the digital client base-those actively using online platforms monthly-now standing at approximately 2.3 million. That's half your entire customer base logging in regularly. This growth is a huge opportunity for lower-cost service delivery and increased fee-based revenue.

To be fair, this digital migration means your physical footprint is shrinking. As of September 30, 2025, the bank employed 8,583 people and operated only 231 branches throughout Chile, a reduction from previous periods as digital channels take over routine transactions.

Metric (as of Sep 30, 2025)	Value	Context
Digital Client Base	Approximately 2.3 million	Represents half of the total customer base.
Total Employees	8,583	Reflects ongoing optimization and digital-led efficiency.
Branch Network	231 branches	Physical presence reduction due to digital adoption.
Efficiency Ratio (9M25)	35.9%	Improved from 40.0% in 9M24, showing strong cost control.

High unemployment and a fragile labor market still restrain consumer spending

Honesty compels us to look at the macro-social risk: the Chilean labor market remains fragile. The national unemployment rate increased to 9.2% during the third quarter of 2025. This persistent high unemployment, especially among women (rising to 9.4% in Q3 2025), directly impacts consumer confidence and credit quality.

When nearly one in ten people who want a job can't find one, you defintely see a slowdown in loan demand and a rise in credit risk. This is why the bank's focus on non-lending fee income, which now accounts for a significant portion of total revenue, is a smart defensive play against a weak consumer credit environment.

Focus on financial inclusion is mandated by the Fintech Law and is a core strategy

The Chilean government is pushing hard for financial inclusion, and the Fintech Law (Law No. 21,521), enacted in January 2023, is the primary vehicle. This isn't just a regulatory hurdle; it's a social mandate that opens new, previously underserved market segments-individuals and small and medium-sized enterprises (SMEs).

The law mandates the creation of the Open Finance System (SFA), which requires large financial institutions, including banks, to share customer data securely with consent. This regulatory push forces competition and innovation in services for the unbanked.

Your strategic actions in this area must include:

• Accelerate Open Finance integration to comply with the new law.
• Develop low-cost, digital-only products tailored for SMEs and low-income individuals.
• Use the digital platform to reduce the cost-to-serve for new, smaller clients.

The social pressure for inclusion is now backed by a legal framework, so your digital strategy is now a compliance and growth imperative.

Banco Santander-Chile (BSAC) - PESTLE Analysis: Technological factors

Core banking systems migrated fully to the cloud via the 'Gravity' project, boosting efficiency.

You want to know where the real cost savings and agility are coming from, and the answer is the cloud. Banco Santander-Chile's core technology upgrade, dubbed Project Gravity, completed its major milestone in the first quarter of 2025 (1Q25), migrating the legacy Mainframe systems entirely to the cloud. This wasn't just a technical move; it was a strategic one to slash operational redundancies and boost speed.

Here's the quick math on the impact: The bank's efficiency ratio-a key measure of how well a bank controls its operating expenses relative to its revenue-hit a 'Best in Class' level of 35.3% in the first half of 2025 (6M25). To be fair, this is a massive improvement from the 42.1% recorded in 6M24. This cloud-based overhaul is the engine driving that industry-leading efficiency, even with higher transitional technology expenses incurred in 1Q25 related to the change. That's a defintely a clear win on the cost front.

Strategic alliance with PagoNxt for Getnet Chile strengthens payment technology and scale.

The payments space is a constant battleground, so a clear strategic move here is critical. Banco Santander-Chile is doubling down on its merchant acquiring business, Getnet Chile, through a strategic alliance with PagoNxt, the global payments platform of Grupo Santander. This move, announced in November 2025, is designed to inject world-class technology and international scale directly into the local operation.

The alliance is structured as an incorporation of Getnet Payments, SL, a PagoNxt subsidiary, into Getnet Chile. Banco Santander-Chile will retain a controlling 50.01% ownership, ensuring local strategic control, but the partnership brings a cash payment of Ch$41.6 billion and a seven-year renewable distribution agreement with a Net Present Value (NPV) of Ch$45.2 billion. This is a smart way to get global tech without giving up majority control.

Getnet Chile holds an 18.9% market share in physical card transactions with over 316,000 POS terminals.

The investment in Getnet Chile is paying off, making it a significant player in the Chilean payments ecosystem. Getnet Chile has, in just four years, captured a substantial market position. This scale is a competitive moat against fintech disruptors and traditional rivals.

The latest figures show Getnet Chile's strong presence:

• Market Share in Physical Card Transactions: 18.9%
• Total Point-of-Sale (POS) Terminals in Operation: Over 316,000 nationwide

This high number of operational terminals creates a powerful network effect, making the platform more valuable for both merchants and consumers, and it's a direct result of their focus on payments technology.

The bank's Return on Average Equity (ROAE) hit 24.0% in 9M25, driven partly by digital transformation.

Ultimately, all this technology investment has to translate to shareholder value, and it has. The bank's Return on Average Equity (ROAE) for the first nine months of 2025 (9M25) reached a robust 24.0%. This is a clear signal that the digital transformation is a primary driver of superior profitability, especially when compared to the 9M24 ROAE of 18.2%.

The ROAE of 24.0% also significantly surpasses the Chilean banking sector average ROE of 15.48% in Q3 2025, according to regulators. This performance is a direct reflection of the lower cost-to-income ratio from the Gravity project and the increasing fee income generated by digital products and the Getnet platform. It shows that the strategic focus on a digital-first model is creating a sustainable competitive advantage.

Here is a summary of the key technological performance metrics for 2025:

Metric	Value (2025 Fiscal Year Data)	Context/Impact
Return on Average Equity (ROAE)	24.0% (9M25)	Significant increase from 18.2% (9M24), driven by digital transformation.
Efficiency Ratio (Cost-to-Income)	35.3% (6M25)	Best in Class in the Chilean industry; result of Project Gravity cloud migration.
Getnet Market Share (Physical Card Transactions)	18.9%	Strong position, enhanced by the PagoNxt strategic alliance.
Getnet POS Terminals in Operation	Over 316,000	Indicates significant scale and merchant network reach.

Next step: Operations team needs to draft a 90-day integration plan for the PagoNxt technology transfer by the end of the month.

Banco Santander-Chile (BSAC) - PESTLE Analysis: Legal factors

Full Basel III capital requirements, including Pillar 2, are being phased in by December 2025

You're seeing the final push on Basel III implementation, and for Banco Santander-Chile (BSAC), this means the full capital requirements must be met by December 2025. BSAC is designated a systemically important bank by the Comisión para el Mercado Financiero (CMF), so it carries an additional core capital requirement of 1.5% of its Risk-Weighted Assets (RWA).

The good news is that BSAC is defintely prepared. Their Common Equity Tier 1 (CET1) ratio reached 10.8% in September 2025, which is well above the bank's minimum regulatory requirement of 9.08% for December 2025. This strong capital buffer means the final phase-in of the systemic charge and the specific 25 basis point (0.25%) Pillar 2 charge-which was 50% fulfilled by June 2025-will not force the bank to raise new capital.

Here's the quick math on the core requirement for BSAC:

Core Capital Requirement Component	Requirement (as % of RWA)	Implementation Deadline
Minimum CET1 Ratio	4.5%	Fully Implemented
Capital Conservation Buffer	2.5%	Fully Implemented
Countercyclical Capital Buffer (CCyB)	0% to 2.5% (Currently 0%)	Ongoing
Systemic Importance Surcharge	1.5%	December 2025
Pillar 2 Charge (Specific to BSAC)	0.25%	December 2025

The Fintech Law implementation creates an Open Finance System (SFA), increasing competition

The Open Finance System (Sistema de Finanzas Abiertas or SFA), a key component of Chile's Fintech Law (Law No. 21,521), is the biggest near-term competitive shift. The regulation was published in July 2024, and the Open Finance System itself will enter into force 24 months later (July 2026). But the gradual rollout is already underway, forcing major banks to make significant technological and operational adjustments now.

As a regulated financial institution, Banco Santander-Chile is obligated to join the SFA. This means you must securely share customer data-with their explicit consent-with new market entrants like Information Based Service Providers (IBSP) and Payment Initiation Service Providers (PISP). This mandatory data sharing will lower the barrier to entry for fintechs, making it easier for them to offer hyper-personalized, lower-cost services. That's a direct threat to BSAC's market share, but it also pushes the bank to accelerate its own digital innovation.

A Consolidated Debt Registry is being enabled by the CMF in November 2025, improving credit risk data

The Comisión para el Mercado Financiero (CMF) issued the regulation for the Consolidated Debt Registry (REDEC) on July 14, 2025, and it is rapidly moving toward full operational status. This registry is a game-changer for credit risk, centralizing and consolidating all debtors' information-amounts, loan types, timeframes, and payment statuses-from a wider range of reporting entities.

For BSAC, this means two things: better risk assessment and more competition. The improved, complete, and up-to-date data will certainly help reduce the cost of risk, which BSAC anticipates will improve to 1.35% by year-end 2025. However, the CMF also incorporated credit advisory services, like credit bureaus, as reporting entities in August 2025. This allows them to access the REDEC data (with consent), enabling them to offer more accurate risk assessments and better loan offers, which directly challenges BSAC's lending business.

• REDEC provides more complete credit data.
• Better data helps reduce credit risk.
• New market entrants get access, increasing lending competition.

New customer service channel regulations are being finalized in July 2025 under the Fintech Act

The CMF finalized new customer service channel regulations by issuing General Rule No. 543 on August 1, 2025. This regulation, stemming from the Fintech Act, is all about modernizing how banks interact with customers, setting new standards for both physical and remote channels.

The new rules mandate minimum working hours for offices and define the mechanisms and minimum conditions for all customer service channels. This requires a review of BSAC's extensive branch network and digital service platforms to ensure compliance. Crucially, the new rule also repeals the banking holiday of December 31. This small change has a real operational impact, requiring banks to staff and operate on a day they previously did not, affecting year-end processes and employee scheduling.

Your next step is to have the Compliance team draft a detailed gap analysis between General Rule No. 543 and current BSAC operations by the end of the month.

Banco Santander-Chile (BSAC) - PESTLE Analysis: Environmental factors

The environmental landscape for Banco Santander-Chile (BSAC) in 2025 is defined by a clear shift from voluntary corporate social responsibility (CSR) to mandatory financial risk management and a surging green credit market. You can't just talk about sustainability anymore; you have to price it.

This dynamic creates both a compliance challenge and a massive growth opportunity, especially for a market leader. The bank's ability to map its loan book to the climate transition is now a core driver of its capital efficiency and revenue growth.

The bank committed $1.5 billion to sustainable finance for 2025, a clear ESG target

Banco Santander-Chile has made a substantial public commitment to sustainable finance, setting a goal to finance its own projects and those of its clients for at least US$1.5 billion through its ESG framework by the end of 2025. This isn't a vague aspiration; it's a hard, measurable target that directly impacts the bank's lending strategy and product development.

The focus areas for this capital mobilization are concrete, linking the bank's core business directly to the low-carbon transition in Chile. This is how you future-proof a balance sheet.

• Finance energy efficiency projects.
• Fund renewable energy generation.
• Support pollution reduction initiatives.
• Issue ESG-linked bonds with an official seal.

The parent company, Santander Group, has already demonstrated its execution capability by achieving its EUR 120 billion green finance target 18 months ahead of schedule, which sets a high bar for the Chilean subsidiary.

Climate-related risk is now explicitly considered in the CMF's Pillar 2 capital assessment for banks

The regulatory environment in Chile has hardened, translating climate risk into tangible capital requirements. The Comisión para el Mercado Financiero (CMF), Chile's financial regulator, issued regulatory amendments in July 2025 to perfect the Pillar 2 (supervisory review process) of Basel III standards.

The CMF explicitly lists climate-related risk as a non-traditional risk that banks must now account for in their internal capital adequacy assessment process (ICAAP). This means the bank's exposure to sectors vulnerable to climate change-like agriculture, mining, and coastal infrastructure-is now a factor in determining its additional capital buffer, which may not exceed 4 percent of its net risk-weighted assets.

Here's the quick math: if the CMF assesses a significant climate-related risk, it directly impacts the bank's required capital and, consequently, its return on equity (ROE). This is a defintely material risk. The CMF's roadmap includes the integration of climate risks into these prudential risk assessments.

The bank's parent, Santander Group, upholds a strong brand reputation for sustainability and community engagement

Banco Santander-Chile benefits significantly from the global reputation of its parent, Santander Group, which is a recognized leader in sustainable finance. This strong brand equity is a competitive advantage in attracting both capital and clients seeking green credentials.

The Group's commitment is quantifiable and impressive. In the global renewable energy finance market, the Group was among the top banks in 2024, closing 82 transactions and securing a 4.54% global market share. This expertise flows down to the Chilean operation, giving it a technical edge in structuring complex green deals.

Key 2025 targets for the parent Group that bolster the local brand include:

• Mobilize EUR 220 billion in green finance by 2030.
• Target EUR 100 billion in Socially Responsible Investments (SRI) Assets Under Management (AUM) by 2025.
• Achieve net-zero carbon emissions by 2050.

Increasing investor demand for green credit and renewable energy financing

Investor and corporate demand for green financial products in Chile is no longer nascent; it is exploding. This demand creates a clear opportunity for BSAC to grow its loan book in high-margin, forward-looking sectors.

The Latin American green investment market is projected to expand dramatically from USD 200 billion in 2024 to USD 980 billion by 2033. This growth is directly fueling the demand for green credit and bonds in the region, with sustainable bond issuance volumes projected to reach $40-45 billion in Latin America in 2025.

Domestically, the surge in demand is evident in Chile's carbon market, driven by the Green Tax Emissions Compensation System (SCE). In the second cycle, which concluded in April 2025, companies compensated for 4.4 million tonnes of CO₂ using carbon credits, a massive increase from the 260,000 tonnes compensated in the first cycle. This regulatory-driven demand for offsets directly translates into a need for financing for eligible green projects, which BSAC is well-positioned to provide.

The following table summarizes the key financial drivers for the green market opportunity:

Metric	Value/Target (2025 Fiscal Year)	Implication for BSAC
BSAC Sustainable Finance Goal	US$1.5 billion	Direct lending target for green/social projects.
Latin America Sustainable Bond Issuance (Projected)	$40-45 billion	Massive market for BSAC's Corporate & Investment Banking division.
Chilean Carbon Credit Compensation (April 2025 Cycle)	4.4 million tonnes of CO₂	Surging corporate demand for eligible green project financing.
CMF Pillar 2 Capital Requirement Cap	4 percent of net risk-weighted assets	Climate risk management directly impacts capital efficiency.