BANCO SANTANDER CHILE | CIK:0001027552 | 3

  • Filed: 3/28/2018
  • Entity registrant name: BANCO SANTANDER CHILE (CIK: 0001027552)
  • Generator: S2 Filings
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1027552/000095010318003835/0000950103-18-003835-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1027552/000095010318003835/bsac-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001027552
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory

    NOTE 11

    INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES

     

    a)Investments in associates and other, are shown in the following table:

     

              Investment

    Ownership interest

    As of December 31

    		  

    Investment value 

    As of December 31,

    		  

    Profit and loss

    As of December 31, 

     

    2017

    MCh$

    2016

    MCh$

     

    2015

    MCh$ 

    		  

    2017 

    MCh$

    2016

    MCh$

    		  

    2017

    MCh$ 

    2016

    MCh$

    2015 

    MCh$

    Company                    
    Redbanc S.A. 33.43 33.43 33.43   2,537          2,184            353 373          215
    Transbank S.A. 25.00 25.00 25.00   14,534        12,510   2,024        1,302 1,256
    Centro de Compensación Automatizado 33.33 33.33 33.33   1,589 1,353   236           248 212
    Sociedad Interbancaria de Depósito de Valores S.A. 29.29 29.29 29.29   1,087            938   235           195 213
    Cámara de Compensación de Alto Valor S.A. (1,2&3) 15.00 14.93 14.23   909             866   66             98          127
    Administrador Financiero del Transantiago S.A. 20.00 20.00 20.00   3,098 2,781   317           230          323
    Sociedad Nexus S.A. 12.90 12.90 12.90   1,911 1,469   442           247         225
    Servicios de Infraestructura de Mercado OTC S.A. (1&2) 12.07 12.07 11.11   1,489 1,378   115 132 (115)
    Subtotal         27,154 23,479   3,788 2,825       2,456
    Shares or rights in other companies (*)                    
    Bladex         136 136   25 26  25
    Stock Exchanges         287             157   150 161  107
    Others         8 8   - - -
    Total         27,585 23,780   3,963 3,012 2,5

     

    (*) Investments in associates and other companies do not have market prices.

     

    (1)During the third quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.84% and 11.93% respectively.

      

    (2)During the last quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.93% and 12.07% respectively.

     

    (3)In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA", the Bank's share increased to 15.00%

     

    (4)In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensación de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing our participation to 14.23%.

     

    b)  Summary of financial information of associates as of and for the years ended December 31, 2017, 2016 and 2015.

     

                                                                      As of December 31,  
      2017   2016   2015
            Net income         Net income         Net income
    Assets Liabilities Equity Assets Liabilities Equity   Assets Liabilities Equity
      MCh$ MCh$ MCh$ MCh$   MCh$ MCh$ MCh$ MCh$   MCh$ MCh$ MCh$ MCh$
                                 
    Centro de Compensación Automatizado 6,871 2,174 3,989 708   5,508 1,523 3,241 744   5,148 1,897 2,616 635
    Redbanc S.A. 21,235 13,751 6,428 1,056   19,927 13,505 5,307 1,115   20,296 14,877 4,777 642
    Transbank S.A. 822,487 765,683 48,709 8,095   710,475 660,957 44,309 5,209   601,627 561,325 35,278 5,024
    Sociedad Interbancaria de Depósito de Valores S.A. 3,720 60 2,858 802   3,204 103 2,435 666   2,714 58 2,093 563
    Sociedad Nexus S.A. 32,669 18,888 10,354 3,427   30,038 19,229 8,898 1,911   23,153 13,682 7,730 1,741
    Servicios de Infraestructura de Mercado OTC S.A. 17,913 6,414 10,963 536   29,258 18,258 9,906 1,094   17,631 7,800 10,869 (1,038)
    Administrador Financiero del Transantiago S.A. 51,304 35,814 13,907 1,583   54,253  40,345  12,758  1,150    42,518  29,760  11,145  1,613 
    Cámara de Compensación de Alto Valor S.A. 6,338 500 5,399 439   6,099 627 4,815 657   5,730 775 4,066 889
    Total 962,537 843,284 102,607 16,646   858,762 754,547 91,669 12,546   718,817 630,174 78,574 10,069

     

    c)Restrictions over the ability of associated companies to transfer funds to investors.

     

    There are no significant restrictions regarding the capacity of associates to transfer funds, whether in cash dividends, refund of loans, or advance payments to the Bank.

     

    d)Activity with respect to investments in other companies during 2017, 2016 and 2015 is as follows:

     

      As of December 31,
      2017            2016   2015
      MCh$           MCh$   MCh$
             
    Opening balance as of January 1, 23,780 20,309   17,914
    Acquisition of investments (*) 3 1,123   302
    Sale of investments - -   -
    Participation in income 3,962 3,012   2,588
    Dividends received (116) (217)   (278)
    Other equity adjustments (44) (447)   (217)
             
    Total 27,585 23,780   20,309

     

    (*) See reference, part a) of this note.