Though Macro Risks Remain for Santander Chile, Central Bank Rate Hike Signals Tailwinds for 2019
Narrow-moat Santander Chile posted an adequate fourth quarter, with net income up 16.3% from last year’s fourth quarter and net interest income up 3.2%. Much of the improvement in the bottom line came from a decline in provision for loan losses. In the third quarter, the bank recognized a one-time CLP 20 billion accounting charge in anticipation of changes to the loss model. Excluding this charge, quarter-over-quarter numbers were moderately positive. The Chilean economy experienced strong GDP g...
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