Banco Santander-Chile: Net income up 75.4% in 1Q14. ROAE reaches 23.9%

In the first quarter of 2014, Banco Santander Chile’s Net income attributable to shareholders
reached a record level for a quarter and totaled Ch$141,843 million (Ch$0.75 per share and
US$0.55/ADR), increasing 75.4% compared to 1Q13. The Bank’s ROAE reached 23.9% in 1Q14
compared to 15.0% in 1Q13.

The Bank’s Operating income, reached Ch$168,052 million in 1Q14, increasing 21.3% QoQ and 76.5% YoY. In this period, the Bank saw a favorable evolution of business volumes, margins, asset quality and costs that lead to a record level of quarterly Operating income. This result was due to positive evolution of loan growth, an improved funding mix, higher inflation, lower provisions, and cost control.

In 1Q14, Total loans increased 2.5% QoQ and 12.3% YoY. In the quarter, the Bank continued to focus on its strategy of expanding the loan book with a focus on increasing spreads, net of provisions, in an economic environment that remains healthy, but with growth decelerating.

Total deposits fell 0.3% QoQ and increased 8.0% YoY. Non-interest bearing demand deposits
decreased 0.2% QoQ and increased 13.0% YoY. Retail deposits expanded 2.3% QoQ and 13.5%
YoY. The Bank continued to focus on deposits from individuals, which increased 0.8% QoQ, and
14.9% YoY. Deposits from SME clients increased 1.5% QoQ and 13.5% YoY. In the middle-market,
deposits rose 4.7% QoQ and 11.8% YoY.