Santander Chile enters the automotive financing business after acquisition agreement with SKBergé Financiera S.A

· The bank will buy 49% of the shares that SKBergé Financiera S.A. owns in Santander Consumer Chile S.A.

Wednesday March 27, 2018 (NYSE: BSAC). Banco Santander Chile informed this morning, through a material fact, that it has entered into an agreement with SKBergé Financiera S.A. to acquire its 49% share ownership in Santander Consumer Chile S.A., for Ch$59,063,470,000.

Currently, Banco Santander S.A. (Spain), parent company of the Bank owns 51% of the shares of Santander Consumer Chile S.A., and the remaining 49% was owned by SKBergé Financiera S.A.

The final outcome of the operation will depend on the conclusion of the contractual agreements and the time it takes to achieve the necessary regulatory authorizations.

At the end of 2018, Santander Consumer S.A. obtained a net profit of Ch$10,996 million, achieving a market share of 8.2% in new car financing, thus ranking second in the Chilean auto financing industry. Meanwhile, Return on Equity (ROE) reached 20% in 2018. As of December 31, 2018, the total loan book of Santander Consumer Chile was Ch$ 388,425 million.

Banco Santander Chile is the largest bank in the Chilean market in terms of loans and assets. As of December 31, 2018, the Bank had total assets of Ch$ 38,875 billion, net loans of provisions of Ch$ 29,807 billion, deposits of Ch$ 21,373 billion, and total equity of Ch$ 3,332 billion. The BIS capital ratio as of December 2018 was 13.4%, with a core capital ratio of 10.6%. Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A1 rating from Moody's, A from Fitch and A from Standard and Poor's.

Our webpage is www.santander.cl. For more information regarding Santander Consumer Chile visit: www.santanderconsumer.cl

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banco Santander-Chile via Globenewswire

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