Businessweek

Banco Santander-Chile provides a range of commercial and retail banking services to its customers, including Chilean peso and foreign currency denominated loans to finance various commercial transactions, trade, foreign currency forward contracts and credit lines and various retail banking services, including mortgage financing. The company also offers various financial services, including financial leasing, financial advisory services, mutual fund management, securities brokerage, insurance brokerage and investment management. The company has 499 total branches, 261 of which are operated under the Santander brand name, with the remaining branches under certain specialty brand names, including 98 under the Santander Banefe brand name, 46 under the SuperCaja brand name, 43 under the BancaPrime brand name and 51 as auxiliary and payment centers. Segments The company divides its clients into the following segments: Commercial Banking and Global Banking and Markets. Commercial Banking The Commercial Banking segment is comprised of the following sub–segments: Individuals (Santander Banefe): The company offers customers a range of products, including consumer loans, credit cards, auto loans, residential mortgage loans, debit card accounts, savings products, mutual funds and insurance brokerage. Individuals (Commercial Banking): The company offers a range of products, including consumer loans, credit cards, auto loans, commercial loans, foreign trade financing, residential mortgage loans, checking accounts, savings products, mutual funds and insurance brokerage. Small and Mid-sized Companies: The company offers a range of products, including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, savings products, mutual funds and insurance brokerage. Institutional: This area includes universities, government agencies, municipalities and regional governments. Customers in this sub-segment are also offered the same products that are offered to the customers in its small businesses segment. Companies: The company offers a range of products, including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, cash management, treasury services, financial advisory, savings products, mutual funds and insurance brokerage. Real estate: The company offers, in addition to traditional banking services, specialized services for financing, primarily residential projects, in order to increase the sale of residential mortgage loans. Large corporations: The company offers the same products that are offered to the customers in its mid–sized companies segment. Global Banking and Markets The Global Banking and Markets segment is comprised of the following sub–segments: Corporate: Customers in this segment are offered a range of products, including commercial loans, leasing, factoring, foreign trade, mortgage loans, checking accounts, cash management, treasury services, financial advisory, savings products, mutual funds and insurance brokerage. The Treasury Division provides financial products mainly to companies in the wholesale banking and the middle–market segments. This includes products, such as short–term financing and funding, securities brokerage, interest rate and foreign currency derivatives, securitization services and other tailor made financial products. The Treasury division also manages its trading positions. Regulations U.S. Anti-Money Laundering, Anti-Terrorist Financing, and Foreign Corrupt Practices Act Regulations: The company, as a foreign private issuer whose securities are registered under the U.S. Securities Exchange Act of 1934, is subject to the U.S. Foreign Corrupt Practices Act (the FCPA). The FCPA prohibits such issuers and their directors, officers, employees and agents from using any means or instrumentality of U.S. interstate commerce in furtherance of any offer or payment of money to any foreign official or political party for the purpose of influencing a decision of such person in order to obtain or retain business. Furthermore, the company is subject to a variety of U.S. anti-money laundering and anti-terrorist financing laws and regulations, such as the Bank Secrecy Act of 1970, as amended, and the USA PATRIOT ACT of 2001, as amended, and a violation of such laws and regulations may result in substantial penalties, fines and imprisonment of its officers and/or directors. Competition The company competes with Banco del Estado, the principal government-owned sector bank. History Banco Santander-Chile was founded in 1977.