Banco Santander Chile Announces Second Quarter 2012 Earnings

Banco Santander Chile Announces Second Quarter 2012 Earnings PR Newswire SANTIAGO, Chile, July 30, 2012 SANTIAGO, Chile, July 30, 2012 /PRNewswire/ -- Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its unaudited results for the second quarter and first half of 2012. These results are reported on a consolidated basis in accordance with Chilean GAAP in nominal Chilean pesos. 2Q12: Net income reaches Ch$105,695 million In 2Q12, Net income attributable to shareholders totaled Ch$105,695 million (Ch$0.56 per share and US$1.14 [1] /ADR). Compared to 1Q12 (from now on QoQ), net income decreased 10.7%. Compared to 2Q12 (from now on YoY), a record earnings quarter for the Bank, net income decreased 25.3%. This decline was mainly due to the lower inflation rate in the quarter that negatively affected net interest margins. Net income in the first half of 2012 totaled Ch$224,002 million (Ch$1.19 per share and US$2.42/ADR). Solid levels of capital: Core capital at 10.4%, BIS at 13.7% ROAE in 2Q12 reached 21.0% and 22.2% in 1H12. The Bank paid on April 25, 2012 its annual dividend equivalent to 60% of 2011 net income (Ch$1.39/share and US$2.95 [2] /ADR) equivalent to a dividend yield of 3.5% on the dividend record date in Chile. Our dividend payout ratio has remained unchanged for the past three years.