v3.25.4
Transactions With Related Parties
 12 Months Ended
Dec. 31, 2025
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,
 20252024
 Group
 entities 		Associates
entities		Key
personnel		Other Group
 entities 		Associates
entities		Key
personnel		Other
 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Loans and accounts receivable
Commercial loans954,031 7 2,360 752,827 922,232 23,570 2,557 875 
Mortgage loans- - 31,860 - - - 33,179 - 
Consumer loans- - 3,471 - - - 3,729 - 
Loans and accounts receivable954,031 7 37,691 752,827 922,232 23,570 39,465 875 
         
Allowance for loan losses(917)- (361)(1,539)(809)(28)(498)- 
Net loans953,114 7 37,330 751,288 921,423 23,542 38,967 875 
Guarantees- - - - 1,031 - 31,489 110 
Contingent loans        
Personal guarantees- - - - - - - - 
Letters of credit- - - - 9,787 - - - 
Guarantees30,295 - - 973 20,313 - - 394 
Contingent loans30,295 - - 973 30,100 - - 394 
Allowance for contingent loans(25)- - (25)(21)- - (8)
Net contingent loans30,270 - - 948 30,079 - - 386 
Loan activity to related parties during 2025, 2024 and 2023 is shown below:
As of December 31,
20252024
 Group
entities		Associates
entities		Key
Personnel		Other Group
entities (*) 		Associates
entities		Key
Personnel		Other
 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$
Opening balances as of January 1,952,332 23,570 39,465 1,269 752,817 49,284 39,469 1,321 
Loans granted75,748 7 10,209 769,292 274,130 4,025 13,638 90 
Loans payments(43,754)(23,570)(11,983)(16,761)(74,615)(29,739)(13,642)(142)
Total984,326 7 37,691 753,800 952,332 23,570 39,465 1,269 
(*)Loans with non-controlled companies (not-consolidated) amount MCh$234,331, MCh$209,358 and MCh$3,348 as of December 31, 2025, 2024 and 2023, respectively.
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
b.Assets and liabilities with related parties
As of December 31,
20252024
 Group
 entities		Associates
 entities		Key
 personnel		OtherGroup
 entities		Associates
 entities		Key
personnel		Other
 MCh$MCh$MCh$MCh$MCh$MCh$MCh$MCh$
Assets
Cash and deposits in banks92,598 - - - 162,452 - - - 
Repurchase agreements and securities lending112,976 - - - - - - - 
Financial assets at FVTPL        
Financial derivative contracts960,521 20,155 - - 1,120,543 11,134 - - 
Other assets664,461 812,210 - - 885,307 686,884 - - 
         
Liabilities        
Financial liabilities at FVTPL        
Financial derivative contracts1,282,113 16,830 - 15,043 1,757,184 13,143 - - 
Financial liabilities at amortised cost        
Deposits and other demand liabilities28,885 1,403 5,215 67,338 28,446 1,007 3,260 407 
Time deposits and other time liabilities200,929 - 5,139 12,760 140,475 - 4,996 69 
Obligations under repurchase agreements187,074 - 196,411 - 265,474 - - - 
Interbank borrowing119,089 - - - 85,325 - - - 
Issued debt instruments876,075 - - - 941,320 - - - 
Other financial liabilities108,084 684,448 - - 236,998 664,461 - - 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continue
c.Income (expense) recorded due to transactions with related parties
For the years ended December 31,
202520242023
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(21,891)119 1,854 507 (9,081)2,581 2,133 71 (45,542)1,471 1,717 (41)
Fee and commission income and expenses208,204 (40,746)181 8,623 170,996 (63,150)208 21 176,603 87,987 250 24 
Net income (expense) from financial operations and net foreign exchange gain (loss) (*)(253,437)(23,732)- - 329,701 134,224 - - 233,651 (162,980)- - 
Other operating income and expenses21,210 (383)- - 3,755 (588)- - 964 (734)- - 
Key personnel compensation and expenses- - (47,241)- - - (41,598)- - - (43,941)- 
Administrative and other expenses(109,924)(4,837)- - (123,221)(4,677)- - (95,561)(1,120)- - 
(*)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, 2025Description 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 ServicesMonthlyContractual5 19,095 - 656 
Santander Back-Offices Globales Mayoristas, S.A.SpainGroupConsulting ServicesMonthlyContractual- 3,496 - - 
Santander Chile Holding S.A.ChileGroup
Consulting Services
MonthlyContractual233 - 4 - 
Santander Factoring S.A.ChileGroup
Consulting Services
MonthlyContractual39 395 20 66 
Bansa Santander S.A.ChileGroupConsulting ServicesMonthlyContractual4 87 - - 
Gesban Santander Servicios Profesionales Contables LimitadaChileGroupConsulting ServicesMonthlyContractual60 (118)- 134 
Santander Global Services, S.L.SpainGroup
Consulting Services
MonthlyContractual- 609 - - 
Santander Investment Chile LimitadaChileGroupConsulting ServicesMonthlyContractual- 5,141 12 336 
Santander Global Technology and Operations Chile limitadaChileGroupConsulting ServicesMonthlyContractual178 7,637 2 9,088 
Universia Chile S.A.ChileGroupConsulting ServicesMonthlyContractual8 446 - - 
Aquanima Chile S.A.ChileGroup
Consulting Services
MonthlyContractual- 1,067 - - 
Santander Asset Management S.A. Administradora General de FondosChileGroupConsulting ServicesMonthlyContractual693 85 9,976 21 
Centro de Compensación Automatizado S.A.ChileAssociatedConsulting ServicesMonthlyContractual- 3,453 - - 
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.ChileAssociatedConsulting ServicesMonthlyContractual- 600 - - 
Zurich Santander Seguros Generales Chile S.A.ChileAssociatedConsulting ServicesMonthlyContractual122 - 1,452 - 
Santander Banca de Inversión Colombia, S.A.S.ColombiaGroupConsulting ServicesMonthlyContractual- 291 - - 
F1rst Tecnologia e Inovação Ltda.BrazilGroupConsulting ServicesMonthlyContractual- 8,783 - - 
Santander Global Technology and Operations, S.L. UnipersonalSpainGroupConsulting ServicesMonthlyContractual- 53,843 - - 
PagoNxt Payments Services, S.L.SpainGroupConsulting ServicesMonthlyContractual- 751 - - 
Santander Global Cards & Digital Solutions, S.L.SpainGroupConsulting ServicesMonthlyContractual- 2,316 - - 
Open Digital Services, S.L.SpainGroupConsulting ServicesMonthlyContractual- 4,141 - - 
Klare Corredora de Seguros S.A.ChileGroupConsulting ServicesMonthlyContractual9 274 1 - 
NOTE 34 - TRANSACTIONS WITH RELATED PARTIES, continued
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.SpainGroupConsulting ServicesMonthlyContractual- 21,898 - 1,264 
Santander Back-Offices Globales Mayoristas, S.A.SpainGroupBack Office servicesMonthlyContractual- 3,554 - - 
Santander Chile Holding S.A.ChileGroup
Leases
MonthlyContractual266 - 1 - 
Santander Factoring S.A.ChileGroup
Leases, Custody and Portal
MonthlyContractual44 412 20 103 
Bansa Santander S.A.ChileGroupLeases and OtherMonthlyContractual4 83 - - 
Gesban Santander Servicios Profesionales Contables LimitadaChileGroup
Accounting Services
MonthlyContractual57 762 - - 
Santander Global Services, S.L. UnipersonalSpainGroupConsulting servicesMonthlyContractual- 643 - - 
Santander Investment Chile LimitadaChileGroup
Leases
MonthlyContractual- 4,925 3 310 
Santander Global Technology and Operations Chile limitadaChileGroup
IT Services
MonthlyContractual- 372 - 14 
Universia Chile S.A.ChileGroupInstitutional ServicesMonthlyContractual7 435 - 84 
Aquanima Chile S.A.ChileGroupProcurement ServicesMonthlyContractual- 1,904 - 351 
Santander Asset Management S.A. Administradora General de FondosChileGroupLeases and OtherMonthlyContractual- 483 9,335 81 
Centro de Compensación Automatizado S.A.ChileAssociated
Derivatives clearing
MonthlyContractual- 3,501 - - 
Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A.ChileAssociatedCard operatorMonthlyContractual- 733 - - 
Zurich Santander Seguros Generales Chile S.A.ChileAssociatedChannel Usage ServicesMonthlyContractual187 - 1,883 - 
F1rst Tecnologia e Inovação Ltda.BrazilGroupIT Services and Service DeskMonthlyContractual- 26,816 - - 
Santander Global Technology and Operations, S.L. UnipersonalSpainGroupIT services and Ops,MonthlyContractual- 57,379 132 - 
PagoNxt Trade Services, S.L.SpainGroup
Digital payments
MonthlyContractual- 620 - - 
Klare Corredora de Seguros S.A.ChileGroupLeasesMonthlyContractual78 - 267 - 
Universia Holding, S.L.SpainGroupInstitutional ServicesMonthlyContractual- 77 - - 
Santander Global Cards & Digital Solutions, S.L.SpainGroupInstitutional ServicesMonthlyContractual- 515 - - 
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,
202520242023
MCh$MCh$MCh$
Personnel compensation21,894 21,652 21,409 
Board members’ salaries and expenses1,796 1,794 1,711 
Bonuses or gratifications19,938 17,814 16,402 
Stock-based benefits (*)1,805 (825)2,119 
Seniority compensation818 15 2,312 
Pension plans– – (1,251)
Training expenses– – 38 
Health funds411 393 374 
Other personnel expenses579 755 (386)
Total47,241 41,598 42,728 
(*)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, 2025, 2024 and 2023, the composition of the Bank’s key personnel is as follows:
N° of executives
PositionAs of December 31,
202520242023
Director111111
Manager124125122
Total key personnel135136133