Santander Chile Posts Flattish 4Q Results Relative to Last Quarter; No Change to Our Long-Term View
Narrow-moat-rated Banco Santander Chile posted relatively flat results in the fourth quarter, particularly with a tough comp from the third quarter. While year-over-year net income rose a resounding 24%, it was down 1.9% sequentially.ÂThe fourth quarter saw net interest income improve 9.4% year over year and 9.1% sequentially. Net fee and commission income increased 5.0% year over year but decreased 2.6% sequentially. The sequential decline in fees was mostly due to lower ATM fees. That said, t...
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