Banco Santander-Chile Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter of 2016
January 31, 2017 at 04:28 am IST
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Banco Santander-Chile announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. The company reported net income attributable to shareholders totaled CLP 108,633 million or CLP 0.65 per share for the fourth quarter of 2016 against CLP 83,783 million or CLP 0.69 per share a year ago. Compared to fourth quarter 2015 net income increased 29.7% due to strong results from its business segments and the recognition of an additional provision in the fourth quarter 2015 of CLP 35,000 million due to new provisioning requirements. Net interest income, NII, decreased 2.1% quarter-on-quarter and 0.6% year-on-year. Net interest income was CLP 316,649 million against CLP 318,671 million a year ago. Operating income was CLP 135,595 million against CLP 83,452 million a year ago. Return on equity was 15.3% against 12.4% a year ago. Retained earnings was CLP 330,651 million against CLP 314,215 million a year ago. Net operating profit was CLP 334,076 million against CLP 265,684 million a year ago. Income before tax was CLP 136,359 million against CLP 84,062 million a year ago. Net income from ordinary activities was CLP 109,233 million against CLP 79,582 million a year ago.
The company reported net income attributable to equity holders, totaled CLP 472,351 million or CLP 2.51 per share for the full year of 2016 against CLP 448,878 million or CLP 2.38 per share a year ago. Net income per ADR was USD 1.51 against 1.35 a year ago. The bank's ROE reached 17.1% in the full year 2016, in line with initial guidance against 17.1% a year ago. Net interest income was CLP 1,281,366 million against CLP 1,255,206 million a year ago. Income before tax was CLP 581,836 million against CLP 527,442 million a year ago. Return on average assets was 1.3% against 1.4% a year ago. Net operating profit was CLP 1,351,161 million against CLP 1,240,280 million a year ago. Operating income was CLP 578,824 million against CLP 524,854 million a year ago.
For the fourth quarter of 2016, charge offs was CLP 46,071 million against CLP 52,239 million a year ago. Impaired loans was CLP 1,615,441 million against CLP 1,669,341 million a year ago. Impairment of property, plant and equipment was CLP 139 million against CLP 1 million a year ago.
Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank's segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations. The Global Corporate Banking segment consists of foreign and domestic multinational companies. The Corporate Activities segment includes its Financial Management Division, which develops global management functions. It provides a range of commercial and retail banking services to its customers, including Chilean peso and foreign currency denominated loans to finance a range of commercial transactions, trade, foreign currency forward contracts and credit lines and a range of retail banking services, including mortgage financing. In addition to its traditional banking operations, the Bank offers a range of financial services.
Banco Santander-Chile Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter of 2016
BANCO SANTANDER-CHILE 
