Slides
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November 2026 Banco Santander Chile 3Q26 results
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2 Banco Santander Chile caution that this presentation contains forward looking statements within the meaning of the US Private Se curities Litigation Reform Act of 1995. These forward looking statements are found in various places throughout this presentation and inc lude, without limitation, statements concerning our future business development and economic performance. While these forward looking state men ts represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties a nd other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but ar e n ot limited to: (1) general market, macro - economic, governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates, and interest rates; (3) competitive pressures; (4) technological developments; and (5) changes in the financi al position or credit worthiness of our customers, obligors and counterparties. The risk factors and other key factors that we have indicated in ou r p ast and future filings and reports, including those with the Securities and Exchange Commission of the United States of America, could adver sel y affect our business and financial performance. Note: the information contained in this presentation is not audited and is presented in Chilean Bank GAAP which is similar to IF RS, but there are some differences. Please refer to our 2025 20 - F filed with the SEC for an explanation of the differences between Chilean Bank GA AP and IFRS. Nevertheless, the consolidated accounts are prepared on the basis of generally accepted accounting principles. All figures pres ented are in nominal terms. Historical figures are not adjusted by inflation. Please note that this information is provided for comparativ e p urposes only and that this restatement may undergo further changes during the year and, therefore, historical figures, including financial ratios, pre sented in this report may not be entirely comparable to future figures presented by the Bank. Important information
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01 Macro environment
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4 Macro view Global uncertainty persists, while Chile’s macro outlook shows gradual normalization. Sources: Central Bank of Chile and Santander estimates. Monetary Policy Rate (%, eop ) GDP growth (annual growth %) Inflation (annual UF variation %) 11,3% 2,1% 0,2% 2,8% 2,5% 0,0% 3,5% 2021 2022 2023 2024 2025 2026(f) 2027(f) 6,6% 13,3% 4,8% 4,4% 3,4% 4,9% 3,1% 2021 2022 2023 2024 2025 2026(f) 2027(f) 4,00% 11,25% 8,25% 5,00% 4,50% 4,50% 4,50% 2021 2022 2023 2024 2025 2026(f) 2027(f)
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5 Pro - market initiatives to reactivate growth Regulatory environment Supportive backdrop for loan growth, housing activity and economic recovery Capital Markets Reform (MK4) Sent to Congress on 9 Sep 2026: 30+ measures across four pillars • FONAVI: state - backed housing fund run by Banco Estado , buying bank - originated mortgages of up to 6,000 UF • Voluntary housing savings: State adds 3% of home value for households saving 7% • Junior stock - exchange segment for emerging and mining exploration companies • Elimination of the 4 % withholding tax on interest to non - resident investors; stamp - tax exemption extended to foreign bank funding National Reconstruction Law (No. 21,850): published 17 Oct 2026, phased in Nov 2026 – 2029 • Corporate tax rate cut gradually : 25 . 5 % ( 2027 ), 24 % ( 2028 ), 23 % from 2029 • Property - tax exemption for seniors • Wildfire reconstruction fund • VAT exemption on first sale of new homes, for 12 months from 1 Dec 2026 (stock of > 100 , 000 new homes) • Mortgage rate subsidy of up to 60 bps (up to 100 bps with FOGAES guarantee) ; 80 , 000 subsidies and homes up to 6 , 000 UF Potential impacts : • Higher private investment and business confidence • Stronger economic activity • Recovery in commercial loan demand • Supportive environment for mortgage origination
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02 Strategy
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7 Our strategy, pillars & objectives Driving customer value, global scale and efficiency through global platforms. Think Customer Becoming the best value proposition for all our customers all Reaching over 3.5M active customers, including 400k SMEs, with best - in - class experience and increasing share of wallet in high - value segments. Attract more Customers Improving NPS Pillars & Objectives …serving more than 3.5 million active customers built on AI - first cutting - edge technology and customer - centric processes to achieve a sustainable shareholder return. Digital Bank with Work/Café… Think Global Accelerating our Digital Transformation to lead with our platform in an increasingly dynamic environment AI powered global operating model, delivering the best digital experience on global platforms and driving resource and capability optimization, enabling an agile, productive and efficient business. Deepen digital transformation High Fees Think Value Delivering strong returns through high - efficiency and sustainable model Increasing high - quality, revenues, with a stronger focus on fees, recurring income streams and trading results. High ROE’s - Above 20% LT Dividend Payout 60 - 70%
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8 Diversified platform supporting balanced revenue mix Five global business lines with complementary strengths and clear strategic focus Revenue and balance sheet mix by segment 65% 40% 56% 46% 24% 23% 24% 16% 5% 26% 11% 23% 3% 11% 3% 5% 3% 6% 2% 9% Loans Deposits Margin Non-NII Retail Commercial CIB WM & I Consumer Payments Our 5 global business lines Retail & Commercial Digital transformation and simplification of products and processes. Implement new, efficient operating model, building on the Work/Café brand. Corporate & Investment Banking Value added Client advisory and FX franchise Transactional banking and sustainable solution. Capital optimization Wealth Management & Insurance Private Banking: renewed value proposition. Strengthen our position in investment advisory and insurance. Market leader in mutual funds in Chile. Consumer Banking Market leader for financing of new and electric vehicles. Strengthen our position among used car sales. Payments (Getnet) Reach new segments of clients through value added services and open market strategy. Offer simple bundled solutions. AI - enabled global platforms enhancing scale, efficiency and revenue diversification $42,847 bn $33,308 bn $1,619 bn $ 644 bn
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9 Recognition of our strategy’s success We have been highly recognized for our market leadership Awards and recognitions • Euromoney : Best Bank in Chile, Best Bank for ESG and Best Bank for SMEs in 2026 • Latin Finance : Bank of the Year in Chile 2025 • The Banker : Best bank in Chile 2025 • Global Finance : Best bank for SMEs in 2025 • Best Annual Report among MSCI Nuam Index companies (Chile, Peru and Colombia) by Informe Corp . Report . • MSCI ESG rating : AAA • Dow Jones Best - in Class World Index : first Chilean bank to be included . • Sustainalytics rating : Low Risk Sustainability ratings & indices NEW MILESTONE — 2026 Santander Arena Naming rights to Chile’s 15,000 - seat arena at Parque O’Higgins — from September 2026.
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0 3 Balance sheet and results
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11 ROAE of 24.5% YTD and 19.1% in the quarter despite low inflation. ROAE: Annualized net income attributable to shareholders/ average shareholders’ equity. ROAE (quarterly %) Profitability and returns Quarterly net income attributable to shareholders (Ch$ million) 21,8% 21,9% 23,0% 31,5% 19,1% 0,56% 0,61% 0,29% 2,46% 0,58% -15,00% -10,00% -5,00% 0,00% 0,0% 10,0% 20,0% 30,0% 40,0% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 247.515 255.339 273.189 382.570 237.085 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 - 38 % QoQ - 4 % YoY 24,0% 24,5% 2,8% 3,3% -20,0% -10,0% 0,0% 18,0% 23,0% 28,0% Sep-25 Sep-26 ROAE UF Variation 797.869 892.844 Sep-25 Sep-26 1 2 % YoY ROAE (YTD%) YTD Net income attributable to shareholders (Ch$ million)
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12 Loans and Customer funds Commercial lending and auto loans accele rating while total customer funds increased 3.7 % QoQ and 11.1% YTD. 1. Santander Consumer Finance, auto loans. 2. Includes other interbank loans. 3. Mutual funds are brokered by Santander Chile an d managed by Santander Asset Management (a subsidiary of the Santander Group). 4. Liquidity Coverage Ratio and Net Stable Funding Ratio in compliance with Chilean regulation. Total loans at amortized cost and fair value by product (Ch$ billion) 9M26 YTD (%) QoQ (%) Consumer 6,039 (0.3%) (0.5%) Auto Loans 1 1,149 6.3% 1.3% Credit Cards 1,960 (4.9%) (3.5%) Installment Loans 2,929 0.5% 1.0% Mortgages 18,433 4.5% 1.8% Commercial 18,356 5.2% 4.0% Total 2 42,847 3.9% 2.3% Customer funding (Ch$ billion) 9M26 YTD (%) QoQ (%) Demand deposits 13,829 (1.8%) (0.8%) Time deposits 19,479 19.1% 5.6% Total deposits 33.308 9.0% 2.8% Mutual funds 3 16,818 15.5% 5.5% Total customer funds 50,126 11.1% 3.7% Bonds 9,849 (6.1%) (2.2%) LCR 4 172% NSFR 4 117%
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13 Net interest income, NIM and Inflation Strong YTD NIM of 4.1%, with Net Interest Income growing 7% YoY 1. Quarterly net interest income annualized divided by average interest earning assets for the quarter. 2. Annualized gross i nte rest income divided by average interest earning assets. 3. Annualized interest expense divided by sum of average interest bearing liabilities, including non - interest bearing demand deposits. 4. Annualized Net interest income divided by average interest earning assets Quarterly NIM 1 and UF Variation 3,8% 4,0% 3,8% 4,7% 3,8% 0,56% 0,61% 0,29% 2,46% 0,60% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Net interest income (NII) (Ch$ billion) 9M26 YoY (%) QoQ (%) Net interest income 1,352.3 4.5% (0.1%) Net readjustment income 266.6 21.8% (64.6%) Net income from interest and readjustments 1,618.9 7.0% (18.1%) Avg. Int. earning assets 52,407 4.4% 2.3% Average loans 41,223 0.5% 1.5% Int. earning asset yield 2 7.6% +6bp - 173bp Cost of funds 3 3.8% - 2bp - 84p NIM YTD 4 4.1% +10bp - 95bp 13,1 16,3 10,4 13,8 19,5 9,6 Demand deposits Time deposits Bonds Sept-25 Dec-25 Mar-26 Jun-26 Sept-26 +5.5%YoY +19.9%YoY - 7.6%YoY Improving funding mix (Ch$ trn )
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14 Clients, Fees, ROF Solid customer acquisition dynamics, while slower transactionality in this part of the cycle temporarily impacting fee growth. Checking accounts (#) +5% YoY Credit Card Transactions (#) +7% YoY Mutual Funds AUMs ($) +10.1 YoY Business current accounts in Ch$ 378 k 4.9 million clients Fees & Financial Transactions (Ch$ billion) 9M26 YoY (%) QoQ (%) Card fees 107.9 (1.8%) (4.5%) Payments 53.7 (22.7%) (15.3%) Asset mgt & Insurance 122.8 13.0% 4.1% Accounts & Collections 107.6 0.2% 1.2% Others 28.8 (24.3%) (88.2%) Total Fees 422.0 (3.3%) (7.7%) Results from financial transactions 216.8 0.6% (13.2%) Total Fees + Fin. Trxs . 643.5 (2.0%) (9.6%) 2.7 million active clients +7% YoY Total customers +2% YoY Active customers +55% Of total clients are active customers Credit card number of transactions and business current accounts based on information from the CMF as of July 2026 or latest inf ormation available.
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15 Operating Expenses & Efficiency Best in class: Efficiency ratio 33.0% YTD, with recurrence of 60.8%. Santander 3 3.0 % Operating expenses (Ch$ billion) 9M26 YoY (%) QoQ (%) Personnel expenses 318.6 3.4% (0.9%) Administrative expenses 284.6 (5.5%) 3.6% Investment amortization 98.3 (2.8%) (1.4%) Total Core expenses 701.5 (1.3%) 0.8% Other operating expenses 46.8 (31.0%) (28.8%) Operating expenses 3 748.4 (4.2%) (1.4%) Efficiency ratio 1 33.0% - 290bp +534p Recurrence 2 60.8% - 126bp - 506bp Costs/assets 1.4% - 14bp - 7bp 1. Efficiency ratio: operating expenses including impairment and other operating expenses/ financial margin + fees+ financial tr ansactions and net other operating income 2. Fees/ core expenses. 3. Operating expenses including impairment and other operating expenses. Industry figures are YTD as of August 2026. Competition is the system minus Santander. Source: CMF Chile. Efficiency 1 (%, Industry figures as of August 2026) Competition 45.2% Worst 69.4% Most efficient bank in Chile Santander 60.8% Recurrence 2 (%, Industry figures as of August 2026) Competition 40.6% Worst 27.6% Our fees generated from clients represent more than 60% of our core expenses. Branch Network 251 124 115 53 94 94 73 11 10 Dec-19 Dec-25 Sep-26 Traditional Work/Café Other 219 229 377
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16 Cost of Risk & NPLs Stable Cost of risk dynamics at 1.42% YTD 1. Cost of risk: Provision expense annualized divided by average loans. Includes additional provisions. 2. 90 days or more NP Ls, March 2026 data is from Note 13 of the financial statements. Ratio is NPLs/ total loans 3. NPLs + restructured loans. Ratio is impaired loans/ total loans Cost of Credit 1 (YTD) 1,39% 1,42% 9M25 9M26 1.258 1.333 1.352 1.436 1.499 3,1% 3,2% 3,3% 3,4% 3,5% -5,0% -3,0% -1,0% 1,0% 3,0% - 500 1.000 1.500 2.000 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 NPLs and NPL ratio 2 ( Ch$bn , %) Impaired loans and impaired ratio 3 ( Ch$bn , %) 2.813 2.942 3.039 3.121 3.178 6,8% 7,1% 7,4% 7,5% 7,4% 0,0% 2,0% 4,0% 6,0% 8,0% - 1.000 2.000 3.000 4.000 5.000 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Cost of Credit 1 ( Quarterly ) 1,39% 1,38% 1,55% 1,22% 1,48% Q3'25 Q4'25 Q1'26 Q2'26 Q3´26
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17 11,0% 10,9% 1,5% 1,5% 4,4% 3,9% Sept-25 Sept-26 CET1 AT1 Tier 2 Basel III Minimum Requirements 2026 CET1 9.08% Minimum CET1 regulatory 4.50% D - SIB 1.50% Conservation Buffer 2.50% Countercyclical Buffer 1 0.50% Pillar 2 charge 0.08% Tier I (CET1 + AT1) 10.58% Regulatory AT1 1.50% Capital adequacy (Tier I & II) 12.63% Regulatory Tier 2 2.00% Pillar 2 Charge 0.05% Capital & CET1 Dividend provision increased to 70%, stable CET1 and positive advances in regulations 1. Increases to 1.0% in May 2028. Capital Adequacy & CET1 ratio Risk weighted assets distribution ( Ch$bn ) 31.781 7.966 5.196 44.943 Credit Market Operational Total 100% 12% 18% 70% 58 % RWA density 16.3% 16.6% New regulatory model for Market risk weighted assets published in 3Q26 Banks can opt to use the duration model for interest rate risk. Estimated positive impact. Upcoming Regulatory Changes • Internal models for credit risk regulation under discussion. • Potential changes in MK4 reform for D - SIB charges. Includes provision of dividend distribution of 70% of 2026 earnings
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04 Conclusions
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19 Guidance 2027 Initial Guidance Loan Growth NIM Non - NII Efficiency CoR ROAE Macro Expectations for 2027 GDP 3.5% UF variation 3.1% MPR Average 4.5% 6% - 7% ~ 4.0% Mid to High Single Digit Low 30%s Stable 22% - 24%
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0 5 Annexes
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22 Evolution of asset quality 1. 90 days or more NPLs. 2. NPLs + restructured loans. 3. Loan loss reserves over NPLs, includes total additional provisions and regulatory requirements for Ch$162 bn. Consumer Loans Mortgage Loans Commercial Loans 422 453 473 471 503 543 563 597 599 2,4% 2,6% 2,7% 2,7% 2,9% 3,1% 3,2% 3,4% 3,4% 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% 3,5% 4,0% - 200 400 600 800 1.000 1.200 Impaired 2 (Ch$ bn, %) NPLs 1 (Ch$ bn, %) 870 943 1.012 1.018 1.051 1.100 1.126 1.163 1.195 4,9% 5,4% 5,8% 5,8% 6,0% 6,3% 6,5% 6,6% 6,7% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% - 200 400 600 800 1.000 1.200 1.400 1.600 1.800 2.000 Coverage 3 35% Coverage 3 114 % Coverage 3 360% 697 726 714 630 615 637 652 712 759 4,1% 4,1% 4,0% 3,6% 3,4% 3,6% 3,7% 3,9% 4,0% 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% 3,5% 4,0% 4,5% - 200 400 600 800 1.000 1.200 1.522 1.535 1.537 1.471 1.456 1.514 1.595 1.641 1.652 8,9% 8,6% 8,7% 8,3% 8,2% 8,6% 9,0% 9,1% 8,7% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% 9,0% 10,0% (200) 300 800 1.300 1.800 2.300 2.800 133 132 129 129 140 153 137 127 141 2,3% 2,2% 2,2% 2,2% 2,4% 2,5% 2,2% 2,1% 2,3% 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 3,0% - 50 100 150 200 250 300 350 400 303 305 303 301 307 327 319 317 330 5,3% 5,2% 5,2% 5,1% 5,2% 5,4% 5,2% 5,2% 5,5% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% - 100 200 300 400 500 600
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23 Equity 5,2 Cash 2,1 HTC 5,9 AFS 5,0 Bonds 9,9 Bilateral Lending 3,6 Term Deposits 20,0 Demand Deposits 14,2 Mortgages Loans 18,0 Commercial Loans 18,0 Consumer Loans 5,7 Assets Liabilities USD 55 bn Solid balance structure and liquidity levels Inflation: • +100bp in inflation = +15 bp of NIM app. • Approx 57% of loans are linked to inflation. • UF Gap is managed through some UF deposits bonds, and hedges. Interest rates: • - 100bp in interest rate = +5bp of NIM app. • Time deposits have an average maturity of 30 - 60 days. Balance Sheet sensitivities Structural balance sheet ( US$bn , September 2026)
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24 A diversified and universal bank • Loans: 57% Individuals / 43% companies • 42% of loans are mortgage loans. • 99% loans booked in Chile with Chilean companies • High diversification by sector. Loan book: Composition of our loan book ( %,September 2026) Commercial ; 43,4% Mortgages ; 42,2% Consumer ; 14,3% Interbank loans ; 0,0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Total loans Total commercial loans Social services and other communal services; 26.9% Trade; 20.2% Real estate services; 12.4% Agriculture, livestock, fishing, forestry, etc.; 8.5% Manufacturing; 9.1% Electricity, gas and water; 4.1% Construction; 4.7% Transport; 3.7% Financial services; 3.7% Telecommunications; 3.4% Mining; 3.2% Oil and natural gas; 0.2%
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25 Annexes Sept - 26 Dec - 25 Sept - 26/Dec - 25 Assets Ch$ Million % Chg . Cash and deposits in banks 2,025,407 1,975,644 2.5% Cash items in process of collection 1,896,670 1,185,633 60.0% Financial assets for trading at fair value through earnings 15,852,757 11,594,405 36.7% Financial derivative contracts 15,416,452 10,879,777 41.7% Financial debt instruments 436,306 714,628 (38.9%) Financial assets at fair value through other comprehensive income 5,554,180 3,889,952 42.8% Financial debt instruments 4,860,835 3,598,366 35.1% Other financial instruments 693,345 291,586 137.8% Financial derivative contracts for hedge accounting 554,797 261,192 112.4% Financial assets at amortized cost 47,656,372 45,544,898 4.6% Investments under resale agreements 1,183,589 427,983 176.6% Financial debt instruments 5,741,937 5,525,242 3.9% Interbank loans, net 19,686 68,070 (71.1%) Loans and account receivables from customers - Commercial 17,532,221 16,647,201 5.3% Loans and account receivables from customers - Mortgage 17,587,508 17,258,525 1.9% Loans and account receivables from customers - Consumer 5,591,432 5,617,878 (0.5%) Investments in associates and other companies 71,615 67,040 6.8% Intangible assets 89,490 91,475 (2.2%) Property, plant and equipment 170,642 178,955 (4.6%) Assets with leasing rights 113,937 93,481 21.9% Current taxes 4,871 113 4193.7% Deferred taxes 525,614 486,523 8.0% Other assets 3,546,095 2,644,044 34.1% Non - current assets and groups for sale 78,118 81,599 (4.3%) TOTAL ASSETS 78,140,567 68,094,956 14.8%
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26 Annexes Sept - 26 Dec - 25 Sept - 26/Dec - 25 LIABILITIES Ch$ Million % Chg. Cash items in process of being cleared 1,688,820 1,068,216 58.1% Financial liabilities for trading at fair value through earnings 15,012,359 10,587,308 41.8% Financial derivative contracts 15,012,359 10,587,308 41.8% Financial derivative contracts for hedge accounting 613,236 912,716 (32.8%) Financial liabilities at amortized cost 48,110,711 44,682,275 7.7% Deposits and other demand liabilities 13,829,127 14,075,590 (1.8%) Time deposits and other time liabilities 19,478,975 16,493,783 18.1% Obligations under repurchase agreements 3,910,145 2,755,243 41.9% Interbank borrowings 3,533,062 3,434,237 2.9% Issued debt instruments 7,157,402 7,699,100 (7.0%) Other financial liabilities 202,001 224,321 (10.0%) Obligations for leasing contracts 60,794 40,649 49.6% Financial instruments of issued regulatory capital 2,491,438 2,577,961 (3.4%) Provisions for contingencies 149,435 168,594 (11.4%) Provisions for dividend, payment of interest and re - appreciation of financial instruments of issued regulatory capital 638,489 637,190 0.2% Special provisions for credit risk 232,195 247,533 (6.2%) Current taxes 61,923 83,084 (25.5%) Deferred taxes 4,600 1,785 157.7% Other liabilities 3,961,642 2,248,006 76.2% TOTAL LIABILITIES 73,025,642 63,255,317 15.4% EQUITY Capital 891,303 891,303 0.0% Reserves 3,877,287 3,459,800 12.1% Accumulated other comprehensive income (118,670) (71,181) 66.7% Elements that will not be reclassified to earnings 2,767 1,716 61.3% Elements that can be reclassified to earnings (121,437) (72,897) 66.6% Retained earnings from prior years 39,011 23,757 64.2% Income from the period 892,844 1,053,209 (15.2%) Provisions for dividend, payment of interest and re - appreciation of financial instruments of issued regulatory capital (638,489) (637,190) 0.2% Total Shareholders' Equity 4,943,285 4,719,697 4.7% Non - controlling interest 171,640 119,942 43.1% EQUITY 5,114,925 4,839,639 5.7% TOTAL LIABILITIES AND EQUITY 78,140,567 68,094,956 14.8%
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27 Annexes Sept - 26 Sept - 25 Sept - 26/Sept - 25 Ch$ Million % Chg. Interest income 2,534,686 2,549,147 (0.6%) Interest expense (1,182,371) (1,255,475) (5.8%) Net interest income 1,352,316 1,293,672 4.5% Readjustment income 467,873 304,514 53.6% Readjustment expense (201,254) (85,699) 134.8% Net readjustment income 266,619 218,815 21.8% Net interest and readjustment income 1,618,934 1,512,488 7.0% Fee and commission income 796,211 787,060 1.2% Fee and commission expense (369,435) (345,918) 6.8% Net fee and commission income 426,775 441,142 (3.3%) Financial assets for trading at fair value through earnings 272,757 76,438 256.8% Result fromderecognition of financial assets and liabilities at amortized cost and of financial assets at fair value with changes in other comprehensive income 16,773 2,024 728.8% Changes, readjustments and hedge accounting in foreign currency (72,768) 136,905 (153.2%) Net financial result 216,763 215,367 0.6% Income from investments in associates and other companies 4,698 6,863 (31.6%) Results from non - current assets and non - continued operations (5,779) (795) 626.7% Other operating income 7,755 2,140 262.3% Total operating income 2,269,146 2,177,204 4.2% Employee benefit expenses (318,578) (307,995) 3.4% Administrative expenses (284,623) (301,308) (5.5%) Depreciation and amortization (98,346) (101,150) (2.8%) Impairment of non - financial assets (134) (2,924) (95.4%) Other operating expenses (46,757) (67,789) (31.0%) Total operating expenses (748,439) (781,166) (4.2%) Operating results before credit losses 1,520,707 1,396,039 8.9% Expense for provisions establised for credit risk of loans at amortized cost (604,867) (663,240) (8.8%) Expense for special provisions for credit risk 17,158 96,222 (82.2%) Recovery of written - off loans 145,353 136,721 6.3% Impairment for credit risk for other financial assets at amortized cost and financial assets at fair value through other comprehensive income (275) (92) 198.4% Credit loss expenses (442,631) (430,390) 2.8% Net income from ordinary activities before tax 1,078,076 965,649 11.6% Income tax (161,758) (156,229) 3.5% Net income 916,318 809,420 13.2% Income attributable to shareholders 892,844 797,869 11.9% Income for non - controlling interest 23,474 11,551 103.2%
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28 Annexes 3Q26 2Q26 3Q25 3Q26/3Q25 3Q26/2Q26 Ch$ Million % Chg. Interest income 860,218 842,165 857,429 0.3% 2.1% Interest expense (413,115) (394,461) (422,901) (2.3%) 4.7% Net interest income 447,103 447,704 434,528 2.9% (0.1%) Readjustment income 101,069 324,532 44,817 125.5% (68.9%) Readjustment expense (39,739) (151,261) (404) 9730.6% (73.7%) Net readjustment income 61,330 173,271 44,412 38.1% (64.6%) Net interest and readjustment income 508,433 620,975 478,940 6.2% (18.1%) Fee and commission income 260,705 265,170 264,085 (1.3%) (1.7%) Fee and commission expense (130,251) (123,780) (119,636) 8.9% 5.2% Net fee and commission income 130,454 141,390 144,448 (9.7%) (7.7%) Finncial assets not for trading at fair value through earnings 98,784 (80,565) 94,965 4.0% (222.6%) Result fromderecognition of financial assets and liabilities at amortized cost and of financial assets at fair value with changes in other comprehensive income 1,816 5,918 5,070 (64.2%) (69.3%) Changes, readjustments and hedge accounting in foreign currency (39,501) 21,871 (18,834) 109.7% (280.6%) Net financial result 61,098 70,407 81,201 (24.8%) (13.2%) Income from investments in associates and other companies 1,527 1,946 2,412 (36.7%) (21.5%) Results from non - current assets and non - continued operations (2,219) (757) 3,934 (156.4%) 193.2% Other operating income 1,713 753 865 98.0% 127.4% Total operating income 701,006 834,713 711,801 (1.5%) (16.0%) Employee benefit expenses (109,350) (110,379) (102,188) 7.0% (0.9%) Administrative expenses (98,204) (94,781) (95,845) 2.5% 3.6% Depreciation and amortization (31,693) (32,137) (33,124) (4.3%) (1.4%) Impairment of non - financial assets - - (1,826) (100.0%) -- % Other operating expenses (13,985) (19,646) (30,714) (54.5%) (28.8%) Total operating expenses (253,233) (256,943) (263,698) (4.0%) (1.4%) Operating results before credit losses 447,772 577,771 448,103 (0.1%) (22.5%) Expense for provisions establised for credit risk of loans at amortized cost (203,775) (170,603) (186,349) 9.4% 19.4% Expense for special provisions for credit risk 240 (4,145) (1,466) (116.4%) (105.8%) Recovery of written - off loans 45,365 48,968 43,446 4.4% (7.4%) Impairment for credit risk for other financial assets at amortized cost and financial assets at fair value through other comprehensive income 1,122 (1,026) 745 50.6% (209.4%) Credit loss expenses (157,048) (126,806) (143,625) 9.3% 23.8% Net income from ordinary activities before tax 290,725 450,965 304,478 (4.5%) (35.5%) Income tax (46,706) (59,143) (53,612) (12.9%) (21.0%) Net income 244,018 391,822 250,866 (2.7%) (37.7%) Income attributable to shareholders 237,085 382,570 247,515 (4.2%) (38.0%) Income for non - controlling interest 6,934 9,252 3,352 106.9% (25.1%)
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29 Annexes