Edgar Filing: BANCO SANTANDER CHILE

Unassociated Document

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of Dec. 2007

Commission File Number: 001-14554

Banco Santander Chile

Santander Chile Bank

(Translation of Registrant’s Name into English)

Bandera 140

Santiago, Chile

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F

Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

Table of Contents

Item

1.	Quarterly Earnings Report published February 8, 2008 (English)	3

Banco Santander Chile Announces

Full-year and Fourth Quarter 2007 Earnings

·	In 4Q 2007 net income increased 16.3% YoY, totaling Ch$70,775 million (Ch$0.38 per share and US$0.79/ADR). Compared to 3Q 2007, net income was down 16.9% mainly as a result of lower inflation and trading gains.

·	High quality of earnings. Core revenues up 50.8% YoY in 4Q 2007:

Net interest income increases 59.9% YoY. Net interest margin reaches 5.9% as the better asset and liability mix and higher inflation enhances margins.

Fee income up 20.7% YoY driven by rise in client base and product usage.

·	Net operating income up 59.7% YoY in 4Q 2007. These results were partially offset by lower non-operating results in the quarter.

·	Solid growth of client base and distribution network. The total number of clients increased 14.1% YoY to 2.8 million. Market share in checking accounts reached 27.9%, increasing 80 basis points in the past 12 months.

·	Total loans increased 5.2% QoQ and 14.3% YoY. Loan growth accelerated to its fastest pace in 2007 in the 4Q 2007.

·	Customer funds increased 5.2% QoQ and 17.2% YoY. Time deposits increased 8.5% QoQ, reflecting the high liquidity of the Chilean deposit market. The balance of non-interest bearing liabilities increased 10.4% QoQ and 18.1% YoY.

·	The Bank’s local and foreign deposit rating were upgraded in 4Q 2007. Standard & Poor’s increased the Bank’s foreign currency rating from A to A+. The Bank’s local peso deposit ratings were increased to AAA by Feller Rate. We are the highest rated company in Latin America.

Net income increased 8.1% in 2007 and totaled Ch$308,647 million (Ch$1.64/share and US$3.43/ADR). Growth was led by a 28.1% increase in core revenues, reflecting the Bank’s effort on increasing its recurring profitability. The Bank’s ROAE in this period reached 23.5%. The efficiency ratio improved to a new record low of 36.5% in 2007.

Investor Relations Department

Bandera 140 19^th Floor, Santiago, Chile, Tel: 562-320-8284, fax: 562-671-6554,

email: rmorenoh@santander.cl

Santiago, Chile, February 7, 2008. Banco Santander Chile (NYSE: SAN; SSE: Bsantander) announced today its unaudited results for the fourth quarter and full-year 2007. These results are reported on a consolidated basis in accordance with Chilean GAAP ^{1,
2} in nominal Chilean pesos.

In 4Q 07, net income totaled Ch$70,775 million (Ch$0.38 per share and US$0.79/ADR), increasing 16.3% YoY. Core revenues (net interest income and fees) increased 50.8% YoY and net operating income increased 59.7% YoY as a consequence of strong results in the retail banking business. These solid results reflect the Bank’s continued focus on increasing the quality of its earnings and maximizing recurrent earnings growth. Net interest income (including the results of inflation hedging) increased 0.3% QoQ and 59.9% YoY. In 4Q 2007, the adjusted net interest margin reached 5.9%, increasing 180 basis points YoY driven by the positive evolution of the asset and liability mix and a higher quarterly inflation. Net fee income increased 2.4% QoQ and 20.7% YoY in 4Q 2007. Fee income continues to be driven by the expansion of the Bank’s client base, improvements in cross-selling and greater product usage. Compared to 3Q 2006, net income decreased 16.9% mainly as a result of the fall in quarterly inflation and lower trading gains.

Strong growth of core revenues

(Core revenues*, Ch$ million)

* Core revenues: Net interest income adjusted for inflation hedging + fees

In the quarter, loan growth expanded at its fastest pace in 2007. Total loans increased 5.2% QoQ (+20.8% on an annualized basis) and 14.3% YoY. Consumer loans expanded 4.6% QoQ (18.4% on an annualized basis) and 12.9% YoY. Market share in consumer lending increased 17 basis points between September and December 2007, reaching 26.3%. Residential mortgage lending increased 4.5% QoQ (18.0% on an annualized basis) and 18.5% YoY. Commercial loans increased 7.5% QoQ and 15.1% YoY led by an increase in lending to all company business segments as spreads improved across the board in these business segments.

¹ Safe harbor statement under the Private Securities Litigation Reform Act of 1995: All forward-looking statements made by Banco Santander Chile involve material risks and uncertainties and are subject to change based on various important factors which may be beyond the Bank's control. Accordingly, the Bank's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Bank's filings with the Securities and Exchange Commission. The Bank does not undertake to publicly update or revise the forward-looking statements even if experience or future changes make it clear that the projected results expressed or implied therein will not be realized.

² The exchange rate used for translating Ch$ to US$ was Ch$495.82 per US$ dollar. All figures presented are in nominal terms. Historical figures are not adjusted by inflation.

Total customer funds increased 5.2% QoQ and 17.2% YoY. In the quarter, the Bank’s local peso deposit ratings were increased to AAA, the only Bank with this rating in Chile. At the same time, the Bank’s foreign long-term ratings were increased to A+ by Standard & Poor’s in the quarter, along with Chile’s sovereign ratings. We view this as a positive event that reflects the stability of Chile’s economy, the strength of the local financial system and the strong market position of Santander Chile. The Bank has the best risk ratings for any issuer in Latin America.

In 4Q 2007, the Bank’s net provisions expenses increased 19.2% QoQ and 38.8% YoY. This rise was mainly due to an increase in net provision expense in retail banking, in line with loan growth in this business segment. The rise in provision expense was also due, in part, to a one-time provision expense of Ch$3,918 million recognized in the quarter as a result of the implementation of a more conservative credit model for consumer lending. The Bank finished 2007 with a coverage ratio of past due loans of 199.5%.

Net income increased 8.1% in 2007 and totaled Ch$308,647 million (Ch$1.64/share and US$3.43/ADR). Results were led by a 26.1% YoY increase in net interest income after provision expense and a 18.7% YoY rise in fee income. The efficiency ratio improved to 36.5% in 2007 compared to 39.0% in 2006. Santander has the best efficiency ratio among the top banks in Chile. The Bank’s ROAE in 2007 reached 23.5%.

High quality of results in 2007

(Net income and Core revenues* after Provision expense, Ch$ million)

*Core revenues: Net interest income adjusted for inflation hedge + fee income

Banco Santander Chile: summary of results

	YTD						Change %			Quarter									Change %
(Ch$ million)	12M 2007			12M 2006			2007 / 2006			4Q 2007			3Q 2007			4Q 2006			4Q 2007/2006			4Q / 3Q 2007
Net interest income		825,616			612,254			34.8	%		234,806			242,755			136,899			71.5	%		(3.3	%)
Inflation hedge		(42,465	)		(12,899	)		229.2	%		(11,020	)		(19,620	)		3,030			(463.7	%)		(43.8	%)
Adjusted net interest income		783,151			599,355			30.7	%		223,786			223,135			139,929			59.9	%		0.3	%
Fees and income from services		192,924			162,550			18.7	%		50,946			49,762			42,205			20.7	%		2.4	%
Core revenues		976,075			761,905			28.1	%		274,732			272,897			182,134			50.8	%		0.7	%
Total provisions, net of recoveries		(182,411	)		(123,022	)		48.3	%		(54,856	)		(46,010	)		(39,514	)		38.8	%		19.2	%
Core revenues net of provisions		793,664			638,883			24.2	%		219,876			226,887			142,620			54.2	%		(3.1	%)
Net financial transactions (excl. hedge)		8,153			64,506			(87.4	%)		(16,115	)		(2,326	)		15,282			(205.5	%)		592.8	%
Other operating results		(45,413	)		(32,960	)		37.8	%		(11,612	)		(11,966	)		(7,869	)		47.6	%		(3.0	%)
Operating expenses		(342,685	)		(309,284	)		10.8	%		(93,154	)		(89,612	)		(88,061	)		5.8	%		4.0	%
Net operating income		413,719			361,142			14.6	%		98,995			122,983			61,972			59.7	%		(19.5	%)
Non-operating income, net		6,424			(3,579	)		(279.5	%)		194			982			8,932			(97.8	%)		(80.2	%)
Net income		308,647			285,582			8.1	%		70,775			85,196			60,868			16.3	%		(16.9	%)
Net income/share (Ch$)		1.64			1.52			8.1	%		0.38			0.45			0.32			16.3	%		(16.9	%)
Net income/ADR (US$)¹		3.43			2.95			16.5	%		0.79			0.92			0.63			25.3	%		(14.3	%)
Total loans		13,468,981			11,788,959			14.3	%		13,468,981			12,800,321			11,788,959			14.3	%		5.2	%
Customer funds		13,455,817			11,484,525			17.2	%		13,455,817			12,796,548			11,484,525			17.2	%		5.2	%
Shareholders’ equito		1,438,042			1,245,339			15.5	%		1,438,042			1,348,162			1,245,339			15.5	%		6.7	%
Net interest margin		5.7	%		4.7	%					6.2	%		6.8	%		4.0	%
Adjusted net interest margin²		5.4	%		4.6	%					5.9	%		6.2	%		4.1	%
Efficiency ratio		36.5	%		39.0	%					37.7	%		34.7	%		46.5	%
Return on average equity³		23.5	%		24.8	%					19.9	%		26.1	%		18.3	%
PDL / Total loans		0.87	%		0.79	%					0.87	%		0.88	%		0.79	%
Coverage ratio of Pals		199.5	%		188.1	%					199.5	%		197.2	%		188.1	%
Expected loss⁴		1.73	%		1.48	%					1.73	%		1.73	%		1.48	%
BIS ratio		12.2	%		12.6	%					12.2	%		12.5	%		12.6	%
Branches⁵		467			413			13.1	%		467			439			413
ATMs		2,004			1,588			26.2	%		2,004			1,808			1,588
Employees		9,174			8,184			12.1	%		9,174			9,057			8,184

1. The change in earnings per ADR may differ from the change in earnings per share due to the exchange rate.

2. Net interest margin adjusted for the results of inflation hedging.

3. Annualized Quarterly Earnings / Average Equity.

4. Reserve for loan losses / Total loans on a consolidated basis.

5. Includes SuperCaja and mini payment centers.

DISTRIBUTION NETWORK, CLIENT BASE AND PRODUCTS

Client base expanding at a rapid pace

The total number of clients increased 14.1% YoY to 2.8 million. The amount of retail clients with a checking account increased 13.9% in 2007. However, only 20% of our retail clients have this product. As of November 2007, the latest market data available, market share in checking accounts reached 27.9% compared to 27.1% as of November 2006. In this twelve month period, the Bank opened 35% of all new checking accounts in the Chilean market.

A greater amount of clients with checking accounts coupled with continuous improvements in client service has led to higher cross selling ratios. The amount of middle/upper income individual clients that are cross-sold (a client with a checking account that uses at least three other products) increased 16.2% YoY as of December 2007. In Santander Banefe, the amount of cross-sold clients (clients that uses at least 2 or more products) rose 17.8% in the twelve month period. Despite this improvement, less than 30% of our clients have 2 or more products, reflecting the high cross-selling potential of the Bank’s client base.

More clients and cross-selling

(Number of clients, thousands)

Another area of strong growth in 2007 was credit cards. According to information published by Transbank, the industry’s credit card processor, as of December 2007 Santander Chile’s market share in bank credit cards reached 36.0% compared to 35.8% as of December 2006. This represents an increase of 16.2% YoY in the Bank’s number of credit card accounts. Purchases with Santander credit cards in monetary terms grew 16.4% in 2007 and market share in terms of purchases reached 35.4% at year-end 2007, 40 basis points higher than in 2006.

Credit cards: more cards and usage

(Accounts in thousands; Value of transactions in Ch$ billion)

Source: Transbank, Dec. 2007

The Bank continues to invest in expanding its distribution network. As of December 2007, the Bank’s distribution network totaled 467 branches and 2,004 ATMs, increasing 13.1% and 26.2% YoY, respectively. 1/3 of the Bank’s branches have been opened in the last three years. Branch opening have been focused on all different customer segments, reflecting the Bank’s segmentation strategy. In 2007, the Bank opened 12 full Santander brand branches, 6 Santander Banefe branches, 20 SuperCaja payment centers and 16 BancoPrime branches. Focus in 4Q 2007 was placed on the new BancoPrime network, an exclusive branch network for upper-income individuals. These new branches are located in the upper floors of wealthy neighborhoods and include wi-fi access to Internet, underground parking, a coffee-shop and personalized customer service. This new segmentation of the branch network should help improve our competitive stance in the upper-income market.

Investing to sustain growth momentum in retail banking

* Including Santander SuperCaja offices

INTEREST EARNING ASSETS

Loan growth accelerated in 4Q 2007

Interest Earning Assets	Quarter ended,						% Change
(Ch$ million)	Dec. 31, 2007		Sept. 30, 2007		Dec. 31, 2006		Dec. 2007/2006			Dec. / Sept. 2007
Consumer loans		2,033,125		1,944,579		1,800,507		12.9	%		4.6	%
Residential mortgage loans*		3,295,411		3,154,667		2,779,769		18.5	%		4.5	%
Commercial loans		4,657,869		4,333,120		4,048,221		15.1	%		7.5	%
Commercial mortgage loans**		116,553		146,566		181,628		(35.8	%)		(20.5	%)
Foreign trade loans		812,697		853,479		741,776		9.6	%		(4.8	%)
Leasing		879,731		836,268		764,408		15.1	%		5.2	%
Factoring		265,183		208,916		168,372		57.5	%		26.9	%
Contingent loans		1,191,280		996,156		1,022,687		16.5	%		19.6	%
Other outstanding loans		54,517		32,389		37,541		45.2	%		68.3	%
Interbank loans		45,961		182,051		151,491		(69.7	%)		(74.8	%)
Past due loans		116,654		112,130		92,559		26.0	%		4.0	%
Total loans		13,468,981		12,800,321		11,788,959		14.3	%		5.2	%
Total financial investments		1,819,266		1,653,462		1,015,376		79.2	%		10.0	%
Total interest-earning assets		15,288,247		14,453,783		12,804,335		19.4	%		5.8	%

* Includes residential mortgage loans backed by mortgage bonds (letras hipotecarias para la vivienda) and residential mortgage loans not funded with mortgage bonds (mutuos hipotecarios para la vivienda).

** Includes general purpose mortgage loans backed by mortgage bonds (letra de crédito fines generales) and other commercial mortgage loans (préstamos hipotecarios endosables para fines generales).

In 4Q 2007, loan growth accelerated in most of our business segments. Total loans increased 5.2% QoQ (+20.8% on an annualized basis) and 14.3% YoY. Consumer loans expanded 4.6% QoQ (18.4% on an annualized basis) and 12.9% YoY. The Bank’s market share in consumer lending increased 17 basis points between September and December 2007, reaching 26.3%. Residential mortgage lending increased 4.5% QoQ (18.0% on an annualized basis) and 18.5% YoY. Commercial loans increased 7.5% QoQ and 15.1% YoY led by an increase in lending to all company business segments as spreads improved across the board.

Loans by Business Segment*	Quarter ended,						% Change
(Ch$ million)	Dec. 31, 2007		Sept. 30, 2007		Dec. 31, 2006		Dec. 2007/2006			Dec. / Sept. 2007
Total loans to individuals		5,846,856		5,576,602		5,087,387		14.9	%		4.8	%
SMEs		2,126,952		2,013,521		1,784,876		19.2	%		5.6	%
Total retail lending		7,973,808		7,590,123		6,872,263		16.0	%		5.1	%
Institutional lending		209,916		198,446		200,173		4.9	%		5.8	%
Middle-Market & Real estate		2,491,702		2,355,899		2,296,384		8.5	%		5.8	%
Corporate		1,534,098		1,452,592		1,220,631		25.7	%		5.6	%

* Excludes contingent loans and interbank loans

Retail lending has been showing a positive growth momentum in the second half of 2007. In 4Q 07, retail lending expanded at its fastest pace in the year, growing 5.1% QoQ and 16.0% YoY. The acceleration in loan growth is also being achieved with a better spread profile. Thus, the Bank concluded 2007 with an increase in loan growth to higher yielding retail segments coupled with a positive evolution of margins (See Net Interest Income).

Positive retail lending growth momentum

(Retail loans: QoQ growth, %)

In the same period, loans to individuals increased 4.8% QoQ and 14.9% YoY. Loans to SMEs increased 5.6% QoQ and 19.2% YoY. The retail segment experienced strong growth in high yielding consumer, residential mortgage commercial loans, leasing and factoring operations. Spreads in these segments have also remained strong.

Lending to the middle market and the large corporations was also strong in the quarter. Loans to the middle-market increased 5.8% QoQ and 8.5% YoY. Lending to large corporations increased 5.6% QoQ and 25.7% YoY. The rising international borrowing costs have led many local companies to finance more of their projects locally at attractive spreads, pushing loan growth in these segments. Going forward we expect this loan trend in corporate banking to continue.

CUSTOMER FUNDS

Solid growth of customer deposits reflects a healthy liquidity scenario

Customer Funds	Quarter ended,						Change %
(Ch$ million)	Dec. 31, 2007		Sept. 30, 2007		Dec. 31, 2006		Dec. 2007/2006			Dec. / Sept. 2007
Non-interest bearing deposits		2,933,476		2,656,047		2,482,997		18.1	%		10.4	%
Time deposits		7,887,880		7,273,063		6,909,335		14.2	%		8.5	%
Total customer deposits		10,821,356		9,929,110		9,392,332		15.2	%		9.0	%
Mutual funds		2,634,461		2,867,438		2,092,193		25.9	%		(8.1	%)
Total customer funds		13,455,817		12,796,548		11,484,525		17.2	%		5.2	%

* Includes savings accounts

In 4Q 07, customer funds increased 5.2% QoQ and 17.2% YoY. In the quarter, the Bank’s local peso deposit ratings were increased to AAA, the only Bank, public or state-owned, with this rating. At the same time, the Bank’s foreign long-term ratings were increased to A+ by Standard & Poor’s in the quarter along with Chile’s sovereign ratings. We view this as a positive sign, especially given the fact that many financial markets were affected by the after shocks of the sub-prime crisis. This reflects the stability of Chile’s economy, the strength of the local financial system and the strong market position of Santander Chile. The Bank has the best risk ratings for any issuer in Latin America.

Time deposits increased 8.5% QoQ, reflecting the healthy liquidity of the Chilean market and the rising short-term rate environment. During the quarter, inflation continued to exceed market expectations fuelling further rises in short-term interest rates. The overnight reference rate set by the Central Bank is currently at 6.25%, 50 basis point higher than at the end of 3Q 2007.

The balance of non-interest bearing liabilities increased 10.4% QoQ and 18.1% YoY. The average balance of non-interest bearing checking accounts increased 1.0% QoQ and 17.5% YoY. The positive performance of checking account balances reflects our strong growth in checking account holders and the Bank’s solid positioning in the cash-management business. This also helps to reduce the negative impact of rising rates on funding costs, as the yield on checking accounts rises with rate hikes.

Average Non-interest bearing Demand Deposits

Quarter ended,

Change %

(Quarterly averages, Ch$ million)

Dec. 31,

2007

Sept. 30,

2007

Dec. 31,

2006

Dec.

2007/2006

Dec. / Sept. 2007

Total average non-interest bearing demand deposits

2,226,485

2,203,374

1,895,592

17.5

1.0

Assets under management in the Bank’s mutual fund subsidiary decreased 8.1% QoQ. The depressed equity market environment seen in 4Q 07 lowered stock fund values and this resulted in an outflow of money to other assets, lowering the volume of assets under management. However, funds grew 25.9% YoY in the same period.

The Bank also continued to issue long-term bonds in the market increasing the duration of liabilities. The balance of senior and subordinated bonds increased 21.3% QoQ and 63.2% YoY. Despite international liquidity concerns, the Chilean market remains very liquid, allowing the Bank to issue in the local market at attractive spreads. These bonds were used to increase the duration of liabilities in light of rising short-term rates and falling long-term rates. The Bank also issued subordinated bonds to strengthen its capitalization ratios. This reflects the Bank’s proactive management of its balance sheet in order to maximize margins and profitability.

Long-term Funding	Quarter ended,						Change %
(Ch$ million)	Dec. 31, 2007		Sept. 30, 2007		Dec. 31, 2006		Dec. 2007/2006			Dec. / Sept. 2007
Senior bonds		1,225,007		980,497		565,653		116.6	%		24.9	%
Subordinated bonds		498,216		440,598		490,416		1.6	%		13.1	%
Total long-term funding		1,723,223		1,421,095		1,056,069		63.2	%		21.3	%

NET INTEREST INCOME

Positive evolution of NIM driven by improved asset/funding mix and higher inflation

Net Interest Income / Margin	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Net interest income		234,806			242,755			136,899			71.5	%		(3.3	%)
Inflation hedge ¹		(11,020	)		(19,620	)		3,030			--	%		(43.8	%)
Adjusted net interest income¹		223,786			223,135			139,929			59.9	%		0.3	%
Average interest-earning assets		15,139,298			14,342,826			13,783,754			9.8	%		5.6	%
Average loans		12,797,589			12,213,946			11,357,344			12.7	%		4.8	%
Net interest margin (NIM) ²		6.2	%		6.8	%		4.0	%
Adjusted Net interest margin ^1,2		5.9	%		6.2	%		4.1	%
Avg. equity + non-interest bearing demand deposits / Avg. interest earning assets		24.1	%		24.5	%		23.4	%
Quarterly inflation rate ³		2.31	%		2.98	%		(0.35	%)
Avg. overnight interbank rate (nominal)		5.81	%		5.45	%		5.30	%
Avg. 10 year Central Bank yield (real)		2.97	%		3.08	%		2.78	%

The Bank hedges part of its UF gap (UF = Unidad de Fomento, an inflation indexed currency) with derivatives. The result of this hedge is included in the net gain from trading and mark-to-market. The UF gap results from the Bank’s assets denominated in UF funded through deposits denominated in nominal pesos and free funds. The adjusted net interest income and margin is net of the results of this hedge.

2.	Annualized.

3.	Inflation measured as the variation of the Unidad de Fomento in the quarter.

Net interest income in 4Q 2007 decreased 3.3% QoQ and increased 71.5% YoY. Adjusting for the results of inflation hedging, net interest income increased 0.3% QoQ and 59.9% YoY. The Bank maintains long-term assets (mainly medium and long-term financial investments and mortgage loans) that are denominated in Unidades de Fomento (UF, an inflation linked currency) which are partially funded with peso deposits that usually have a shorter duration. In order to keep interest rate risk in line with internal and regulatory limits, the Bank hedges part of this UF/peso gap with peso/UF derivatives. The results of these derivatives are recognized in the line Net Gains from Financial Transactions. In 4Q 2007, the net interest margin, NIM, adjusted for inflation hedge reached 5.9%, decreasing 30 basis points QoQ and increasing 180 basis YoY. Among the reasons for these movements in net interest margins, the following points are worth mentioning:

Improved asset mix and focus on spreads. In 4Q 2007 interest earning assets increased 9.8% YoY, while average loans increased 12.7% in the same period. This reflects the strategic focus on improving the asset and pricing mix of the loan portfolio. In 2007, the Bank remained steadily focused on profitability in order to balance growth and profitability. In 4Q 2007, loan growth accelerated as more loans complied with our risk return targets. Thus, the Bank concluded 2007 with an increase in loan growth coupled with a positive evolution of margins.

Higher loan growth at higher spreads

(QoQ total loan growth and Net interest margin*, %)

* Net interest margin adjusted for inflation hedging

Inflation. The difference in inflation rates in 4Q 2007 and 4Q 2006 partially explains the expansion of NIM between these two periods. Inflation reached 2.31% in 4Q 2007 compared to -0.35% in 4Q 2006. Despite inflation hedging, the Bank maintains a positive gap between assets and liabilities indexed to inflation. Therefore, the rise in inflation had a positive impact on margins on a YoY basis in 4Q 2007. On the other hand, the decline in inflation between 3Q and 4Q 2007 negatively affected margins in 4Q 07, coming from 3Q 07’s record high levels.

The positive effects of higher inflation over the Bank’s results are also partially offset by the loss from price level restatement. Going forward, if inflation decelerates, this should negatively affect net interest margins, but higher loan growth should offset this impact on net interest income.

Better funding mix. During the quarter, the rise in inflation expectations pushed short-term rates upward. The average overnight interbank rate increased to 5.81% in 4Q 2007 compared to 5.45% in 3Q 2007 and 5.31% 4Q 2006. This placed pressure on the Bank’s NIM by increasing funding costs. As mentioned above, the Bank issued long-term bonds in the local market to counterbalance the higher funding costs. At the same time, the ratio of average non-interest bearing liabilities to interest earning asset reached 24.1% in 4Q 2007, similar to the same ratio achieved in 3Q 2007 and 70 basis points higher than in 4Q 2006. As short-term rates rise, the yield obtained over non-interest bearing deposits and capital increases.

PROVISION FOR LOAN LOSSES

Coverage of past due loans reaches 199.5%

Provision for loan losses	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Gross provisions		(11,835	)		(11,143	)		(13,569	)		(12.8	%)		6.2	%
Charge-offs		(54,784	)		(49,465	)		(38,572	)		42.0	%		10.8	%
Gross provisions and charge-offs		(66,619	)		(60,608	)		(52,141	)		27.8	%		9.9	%
Loan loss recoveries		11,763			14,598			12,627			(6.8	%)		(19.4	%)
Net provisions for loan losses		(54,856	)		(46,010	)		(39,514	)		38.8	%		19.2	%
Total loans		13,468,982			12,800,321			11,788,959			14.3	%		5.2	%
Total reserves (RLL)		232,766			221,070			174,064			33.7	%		5.3	%
*Past due loans (PDL)**		116,654			112,130			92,559			26.0	%		4.0	%
Gross provision expense / Loans		1.98	%		1.89	%		1.77	%
Cost of credit**		1.63	%		1.44	%		1.34	%
PDL / Total loans		0.87	%		0.88	%		0.79	%
Expected loss (RLL / Total loans)		1.73	%		1.73	%		1.48	%
Coverage of past due loans***		199.5	%		197.2	%		188.1	%

* Past due loans: installments or credit lines more than 90 days overdue. ** Net provision expense / loans annualized. *** RLL / Past due loans.

In 4Q 2007, the Bank’s net provisions expenses increased 19.2% QoQ and 38.8% YoY. This rise was mainly due to an increase in net provisions in retail banking, in line with loan growth in this business segment. As mentioned in previous releases, provisions are expected to increase due to the growth of lending to higher yielding but relatively riskier retail segments. This is the main explanation for the rise in charge-offs in the period. In 2007, the net interest income after provisions expanded 26.1%, reflecting that despite the rise in provision expense the higher margins of the Bank’s retail activities have positively contributed to its profitability.

Positive net contribution of retail lending activities

(Net interest income* net of Provision expense, Ch$ million; PDL and Coverage ratios, %)

* Net interest income adjusted for inflation hedge

The 6.2% QoQ rise in gross provisions was due higher provisions recognized as a result of the implementation of a more conservative credit model for consumer lending. In 2006, the Bank commenced a process of improving its internal provisioning models by incorporating additional elements in the risk analysis used to determine a client’s risk profile and provision level. Additional innovations were implemented in 2007, the most important being the extension of the back-testing of a client’s credit behavior from 12 to 21 months. As a result, and as of September 2007, the Bank had recognized additional reserves of approximately Ch$10,526 million directly related to this change. In December 2007, this model was fully implemented and required further provisions of Ch$3,918 million. The total impact in 2007 as a result of this modification was Ch$14,444 million.

The growth in gross provisions was also due to the acceleration of loan growth. The Bank’s credit model requires every consumer loan and the majority of commercial loans disbursed by the Bank to be assigned a provision expense at the beginning of the loan term in accordance with the risk profile of the client. Therefore, as the loans book grows more provisions are recognized upfront.

The increase in net provision expense was also due to the 19.4% reduction in loan loss recoveries QoQ. In the quarter, the Bank was negotiating the sale of charged-off loans, therefore, the amounts assigned to collection agents did not include those charged-off loans that were being sold, temporarily reducing recoveries in the quarter. The focus of the collection departments in 2008 will be on incrementing the rate of recoverability in the first six months of non-performance as efforts to collect after this period tend to be less cost efficient.

Net provisions for loan losses by segment	Quarter								Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006		4Q 07/ 4Q 06			4Q / 3Q 2007
Retail banking*		54,100			45,324			37,032		46.1	%		19.4	%
Middle-market		663			(303	)		1,701		(61.0	%)		—	%
Corporate banking		55			(184	)		391		(85.9	%)		—	%
Leasing subsidiary		(100	)		(13	)		9		—	%		669.2	%
Total net provisions for loan losses**		54,718			44,824			39,133		39.8	%		22.1	%

* Includes individuals and SMEs.

** Excludes provisions over repossessed assets.

As a result of the proactive management of asset quality and the strengthening of credit policies, the Bank continues to display sound asset quality indicators. Coverage of past due loans (Reserves/Past due loans) reached 199.5% at December 2007 up from 188.1% as of December 2006. The past due loan ratio (Past due loans/Total loans) as of December 31, 2007 was 0.87% compared to 0.88% as of September 2007 and 0.79% as of December 2006. The Expected loss ratio (Reserves for loan losses/total loans) remained steady QoQ at 1.73% and increased 28 basis points compared to 4Q 2006. The cost of credit (Net provision for loan losses/Total loans) reached 1.63% in 4Q 2007 compared to 1.44% as of 3Q 2007 and 1.34% in 4Q 2006. Going forward, the Bank’s expects the cost of credit to rise in line with the shift in asset mix towards retail banking.

NET FEE INCOME

Growth in distribution network, client base and product usage boosts fee income

Net Fee Income	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Checking accounts*		14,562			16,011			14,446			0.8	%		(9.1	%)
Adm. & collection of insurance policies		7,910			6,492			6,249			26.6	%		21.8	%
Mutual fund services		8,202			8,162			5,710			43.6	%		0.5	%
Credit cards		7,301			5,727			4,808			51.9	%		27.5	%
Automatic teller cards		4,217			4,172			3,351			25.8	%		1.1	%
Insurance brokerage		3,158			2,891			3,597			(12.2	%)		9.2	%
Stock brokerage		1,670			1,888			416			301.4	%		(11.5	%)
Other product and services		3,926			4,419			3,628			8.2	%		(11.2	%)
Total net fee income		50,946			49,762			42,205			20.7	%		2.4	%
Fees / Operating expense		54.7	%		55.5	%		47.9	%

* Includes lines of credit

Net fee income increased 2.4% QoQ and 20.7% YoY in 4Q 2007. As mentioned above, the Bank continues to expand its client base, cross-selling and product usage, especially in retail banking and this is driving fee income growth. Credit card fees increased 27.5% QoQ and 51.9% YoY in 4Q 2007. In the quarter the Bank experienced record usage of its credit cards. ATM fees increased 1.1% QoQ and 25.8% YoY, in line with the expansion of the Bank’s ATM network. The positive evolution of credit card and ATM fees was partially offset by the lower growth of fee income from checking accounts. Despite the expansion in the number of checking account holders, fee income has been hampered by regulatory changes regarding certain collection fees that have been prohibited since the beginning of this year.

Asset management has been an important contributor to fee income in 2007. Fees from mutual fund management increased 0.5% QoQ and 43.6% YoY in 4Q 2007. Assets under management increased 25.9% YoY, but declined 8.1% QoQ as markets declined.

Insurance brokerage fees increased 9.2% QoQ and decreased 12.2% YoY in 4Q 2007. Fees from the administration and collection of insurance policies increased 21.8% QoQ and 26.6% YoY in the same period. The continued strength in distributing insurance products and collecting insurance premiums for third parties has continued to fuel insurance related fees.

Fees from stock brokerage decreased 11.5% QoQ, but increased 301.4% YoY in 4Q 2007. In 1Q 2007, the merger between Santiago Corredores de Bolsa Ltda, a subsidiary of the Bank, and Santander Investment S.A. Corredores de Bolsa was completed. The Bank now owns 50.5% of the merged entity. The stock brokerage business was also negatively affected by the downturn suffered by equity markets.

OPERATING EXPENSES AND EFFICIENCY

Efficiency ratio reaches 37.7% in 4Q 2007

Operating Expenses	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Personnel expenses		49,721			45,831			48,118			3.3	%		8.5	%
Administrative expenses		30,956			31,633			29,943			3.4	%		(2.1	%)
Depreciation and amortization		12,477			12,148			10,000			24.8	%		2.7	%
Operating expenses		93,154			89,612			88,061			5.8	%		4.0	%
Efficiency ratio*		37.7	%		34.7	%		46.5	%

* Operating expenses / Operating income. Operating income = Net financial income + Net fee income + Other operating income, net.

Efficiency continues to be a differentiating factor for Santander Chile. The efficiency ratio reached a record low of 36.5% for the full year 2007 compared to 39.0% in 2006.

In 4Q 2007, the efficiency ratio reached 37.7% compared to 46.5% in 4Q 2006. In the same period, operating expenses increased 4.0% QoQ and 5.8% YoY. Personnel expenses increased 8.5% QoQ and 3.3% YoY in the same period. Average headcount increased 16.6% in 2007 YoY. This rise is mainly focused in front office positions as the Bank expands its distribution network. Santander SuperCaja, BancaPrime and the merger of the stock brokerages also added approximately 200 new employees to headcount. Additionally in the quarter, the spurt in inflation boosted wage expenses. It is important to point out that 4Q 2006 personnel expenses included Ch$6,622 million in one time expenses resulting from the payment of an end of negotiation bonus. This was paid upon the signing in 4Q 2006 of the new collective bargaining agreement with unions.

Administrative expense remained controlled in the quarter despite the acceleration of commercial activity in the quarter. Administrative expenses fell 2.1% QoQ and increased 3.4% YoY in 4Q 2007.

The 2.7% QoQ and 24.8% YoY rise in depreciations and amortizations was directly linked to the higher commercial activities and the larger distribution network.

GAINS (LOSSES) ON FINANCIAL TRANSACTIONS

Net Result from Financial Transactions	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Net gain (loss) from trading and mark-to-market		(77,509	)		(64,091	)		22,772			—	%		20.9	%
Foreign exchange transactions, net		50,375			42,145			(4,460	)		—	%		19.5	%
Net results from financial transactions³		(27,134	)		(21,946	)		18,312			—	%		23.6	%
Inflation hedge *		(11,020	)		(19,620	)		3,030			—	%		(43.8	%)
Adjusted Gains (losses) on financial transactions*		(16,114	)		(2,326	)		15,282			—	%		592.8	%
Quarterly inflation rate**		2.31	%		2.98	%		(0.35	%)
Avg. overnight interbank rate (nominal)		5.81	%		5.45	%		5.30	%
Avg. 10 year Central Bank yield (real)		2.97	%		3.08	%		2.78	%

**	Quarterly variation of the Unidad de Fomento (UF).

In 4Q 2007, the Bank’s Net results from Financial Transactions totaled a loss of Ch$27,134 million. Of this loss, Ch$11,020 million are directly related to the results from the Bank’s peso/UF hedging produced by the high inflation rate in 4Q 2007 (+2.31%). The Bank maintains long-term assets (mainly financial investments and mortgage loans) that are denominated in UFs (an inflation linked currency) that are funded with nominal peso deposits that have a shorter duration. In order to keep interest rate risk in line with regulatory limits, the Bank partially hedges this UF gap with peso/UF derivatives. The results produced by this hedge are recognized in this line item and move inversely with inflation. All-in the Bank benefits from a higher inflation scenario due to the positive gap between assets and liabilities denominated in UFs.

Excluding this effect, the adjusted result from gains and losses from financial transactions totaled a one-time loss of Ch$16,114 million. This was mainly due to losses in our fixed income trading and market-making businesses.

³ For analysis purposes only, we have created the line item: Net results from financial transactions. This is the sum of the net gain (loss) from trading, the mark-to-market of financial investment and derivatives, and foreign exchange transactions. The results recorded in foreign exchange transactions mainly includes the translation gains or losses of assets and liabilities denominated in foreign currency, but does not include the mark-to-market of FX derivatives. As Santander Chile limits its foreign exchange gap, the results recorded in foreign exchange transactions are, for the most part, offset by the mark-to-market of foreign currency forwards. For this reason they are added to the net gains (loss) from trading and mark-to-market, which includes the mark-to-market of FX forwards.

OTHER OPERATING INCOME/EXPENSES, OTHER INCOME/EXPENSES, PRICE LEVEL RESTATEMENT AND INCOME TAX

Other Income and Expenses	Quarter									Change %
(Ch$ million)	4Q 2007			3Q 2007			4Q 2006			4Q 07/ 4Q 06			4Q / 3Q 2007
Sales force expense		(5,395	)		(7,168	)		(3,585	)		50.5	%		(24.7	%)
Other operating expenses, net		(6,217	)		(4,798	)		(4,284	)		45.1	%		29.6	%
Total other operating results, net		(11,612	)		(11,966	)		(7,869	)		47.6	%		(3.0	%)

Non-operating income, net		628			2,507			9,055			(93.1	%)		(75.0	%)
Income attributable to investments in other companies		(92	)		(635	)		(82	)		12.2	%		(85.5	%)
Losses attributable to minority interest		(342	)		(890	)		(41	)		734.1	%		(61.6	%)
Total non-operating results, net		194			982			8,932			(97.8	%)		(80.2	%)
Price level restatement		(16,641	)		(23,902	)		2,480			—	%		(30.4	%)
Quarterly inflation rate		2.31	%		2.98	%		(0.35	%)
Income tax		(11,773	)		(14,867	)		(12,516	)		(5.9	%)		(20.8	%)

In 4Q 07, Other operating results, net totaled a loss of Ch$11,612 million, increasing 47.6% QoQ and decreasing 3.0% QoQ. Total sales force expenses decreased 24.7% QoQ and increased 50.5% YoY. The YoY growth of sales forces expenses, which are almost entirely variable, reflects the greater amount of clients opening new products in the Bank. Other operating expenses, net increased 29.6% QoQ and 45.1% YoY. This was mainly due to higher customer service expenses, expenses relating to the promotion of our credit card business and higher insurance expenses assumed by the Bank on behalf of clients.

Non-operating income, net totaled a gain of Ch$194 million in 4Q 2007. The lower gain in the line item was mainly due to lower gains from the reversal of non-credit related contingencies. These contingencies are mainly related to non-credit risks, including non-specific contingencies, tax contingencies, legal contingencies and other impairments.

Price level restatement in the quarter totaled a loss of Ch$16,641 million. The Bank must adjust its capital and fixed assets for the variations in price levels. When inflation is positive, the Bank records a loss from price restatement, since the Bank's capital is larger than fixed assets. The inflation rate was 2.31% in 4Q 2007 compared to 2.98% in 3Q 2007 and -0.35% in 4Q 2006.

SHAREHOLDERS’ EQUITY AND REGULATORY CAPITAL

The Bank’s issues sub bonds in 4Q 2007 to maintain strong capitalization ratios in 2008

Shareholders’ equity	Quarter ended									Change %
(Ch$ million)	Dec. 31, 2007			Sept. 30, 2007			Dec. 31, 2006			Dec. 2007/2006			Dec. / Sept. 2007
Capital		1,138,870			1,114,163			961,661			18.4	%		2.2	%
Unrealized gain (loss) available for sale portfolio		(9,475	)		(3,873	)		(1,904	)		397.6	%		144.6	%
Total capital and reserves		1,129,395			1,110,290			959,757			17.7	%		1.7	%
Net Income		308,647			237,872			285,582			8.1	%		29.8	%
Total shareholders’ equity		1,438,042			1,348,162			1,245,339			15.5	%		6.7	%
Return on average equity (ROAE)		19.9	%		26.1	%		18.3	%

Shareholders’ equity totaled Ch$1,438,042 million (US$2,900 million) as of December 31, 2007. ROAE in 4Q 2007 reached 19.9% and 23.5% in 2007. The Bank’s BIS ratio as of December 31, 2007 007 was 12.2%, with a Tier I ratio of 8.6%. In the quarter the Bank issued subordinated bonds in order to maintain strong capitalization ratios, especially considering the positive outlook for loan growth in 2008.

Capital Adequacy	Quarter ended									Change %
(Ch$ million)	Dec. 31, 2007			Sept. 30, 2007			Dec. 31, 2006			Dec. 2007/2006			Dec. / Sept. 2007
Tier I		1,129,395			1,110,290			959,757			17.7	%		1.7	%
Tier II		473,037			440,432			458,546			3.2	%		7.4	%
Regulatory capital		1,602,432			1,550,722			1,418,303			13.0	%		3.3	%
Risk weighted assets		13,087,642			12,364,773			11,222,348			16.6	%		5.8	%
Tier I ratio		8.6	%		9.0	%		8.6	%
BIS ratio		12.2	%		12.5	%		12.6	%

INSTITUTIONAL BACKGROUND

As per latest public records published by the Superintendency of Banks of Chile for December 2007, Banco Santander Chile was the largest bank in terms of loans and deposits. The Bank has the highest credit ratings among all Latin American companies, with an A+ rating from Standard and Poor’s, A+ by Fitch and A2 by Moody’s, which are the same ratings assigned to the Republic of Chile. The stock is traded on the New York Stock Exchange (NYSE: SAN) and the Santiago Stock Exchange (SSE: Bsantander). The Bank’s main shareholder is Santander, which controls 76.71% of Banco Santander Chile.

Santander (SAN.MC, STD.N) is the largest bank in the euro zone by market capitalization and fifth in the world by profit. Founded in 1857, Santander has EUR 912,915 million in assets and EUR 1,063,892 million in managed funds, 65 million customers, 11,178 branches and a presence in 40 countries. It is the largest financial group in Spain and Latin America, and is the sixth largest bank in the United Kingdom, through its Abbey subsidiary, and is the third largest banking group in Portugal. Through Santander Consumer Finance, it also operates a leading in 12 European countries (Germany, Italy and Spain, among others) and the United States. In 2007, Santander registered €9,060 million in net attributable profits, an increase of 19% from the previous year.

In Latin America, Santander manages over US$200 billion in business volume (loans, deposits, mutual funds, pension funds and managed funds) through 4,498 offices. In 2007, Santander reported $3,648 million in net attributable income in Latin America, 27% higher than the previous year.

CONTACT INFORMATION

Robert Moreno

Manager

Investor Relations Department

Banco Santander Chile

Bandera 140 Piso 19,

Santiago,

Chile

Tel: (562) 320-8284

Fax: (562) 671-6554

New Email: rmorenoh@santander.cl

Website: www.santander.cl

BANCO SANTANDER - CHILE, AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In millions of nominal Chilean pesos)

	31-Dec			31-Dec			30-Sep			31-Dec			% Change			% Change
	2007			2007			2007			2006			Dic. 2007 / 2006			Dic. / Sept. 2007
	US$ thousands			Ch$ millions			Ch$ millions			Ch$ millions
ASSETS

Cash and due from banks
Noninterest bearing		1,192,201			591,117			647,437			947,741			(37.6	%)		(8.7	%)
Interbank deposits-interest bearing		1,412,845			700,517			225,446			144,666			384.2	%		210.7	%
Total cash and due from banks		2,605,046			1,291,634			872,883			1,092,407			18.2	%		48.0	%

Financial investments
Trading		2,028,218			1,005,631			806,778			639,461			57.3	%		24.6	%
Available for sale		1,572,415			779,635			807,492			345,108			125.9	%		(3.4	%)
Held to maturity		0			0			0			0			--	%		--	%
Investment collateral under agreements to repurchase		68,573			34,000			39,192			30,807			10.4	%		(13.2	%)
Total financial investments		3,669,206			1,819,266			1,653,462			1,015,376			79.2	%		10.0	%

Loans, net
Commercial loans		9,394,274			4,657,869			4,333,120			4,048,221			15.1	%		7.5	%
Consumer loans		4,100,530			2,033,125			1,944,579			1,800,507			12.9	%		4.6	%
Mortgage loans (Financed with mortgage bonds)		777,191			385,347			408,094			485,849			(20.7	%)		(5.6	%)
Foreign trade loans		1,639,097			812,697			853,479			741,776			9.6	%		(4.8	%)
Interbank loans		92,697			45,961			182,051			151,491			(69.7	%)		(74.8	%)
Leasing		1,774,295			879,731			836,268			764,408			15.1	%		5.2	%
Other outstanding loans		6,749,056			3,346,317			3,134,444			2,681,461			24.8	%		6.8	%
Past due loans		235,275			116,654			112,130			92,559			26.0	%		4.0	%
Contingent loans		2,402,646			1,191,280			996,156			1,022,687			16.5	%		19.6	%
Reserves		(469,457	)		(232,766	)		(221,070	)		(174,064	)		33.7	%		5.3	%
Total loans, net		26,695,604			13,236,215			12,579,251			11,614,895			14.0	%		5.2	%

Derivatives		1,574,715			780,775			584,999			372,688			109.5	%		33.5	%

Other assets
Bank premises and equipment		499,310			247,568			239,049			231,360			7.0	%		3.6	%
Foreclosed assets		25,953			12,868			13,667			15,775			(18.4	%)		(5.8	%)
Investments in other companies		13,586			6,736			5,847			6,654			1.2	%		15.2	%
Assets to be leased		117,825			58,420			49,140			30,293			92.9	%		18.9	%
Other		1,551,465			769,247			757,264			463,991			65.8	%		1.6	%
Total other assets		2,208,139			1,094,839			1,064,967			748,072			46.4	%		2.8	%

TOTAL ASSETS		36,752,710			18,222,729			16,755,562			14,843,439			22.8	%		8.8	%

BANCO SANTANDER - CHILE, AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In millions of nominal Chilean pesos)

	31-Dec		31-Dec		30-Sep		31-Dec		% Change			% Change
	2007		2007		2007		2006		Dic. 2007 / 2006			Dic. / Sept. 2007
	US$ thousands		Ch$ millions		Ch$ millions		Ch$ millions

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits

Current accounts		4,003,287		1,984,910		1,717,638		1,663,414		19.3	%		15.6	%
Bankers drafts and other deposits		1,913,126		948,566		938,409		819,583		15.7	%		1.1	%
Total non-interest bearing deposits		5,916,413		2,933,476		2,656,047		2,482,997		18.1	%		10.4	%

Savings accounts and time deposits		15,908,757		7,887,880		7,273,063		6,909,335		14.2	%		8.5	%
Total deposits		21,825,170		10,821,356		9,929,110		9,392,332		15.2	%		9.0	%

Other interest bearing liabilities
Banco Central de Chile borrowings
Credit lines for renegotiation of loans		8,011		3,972		4,151		5,080		(21.8	%)		(4.3	%)
Other Banco Central borrowings		287,140		142,370		269,096		134,417		5.9	%		(47.1	%)
Total Banco Central borrowings		295,151		146,342		273,247		139,497		4.9	%		(46.4	%)

Investments sold under agreements to repurchase		335,366		166,281		123,291		19,929		734.4	%		34.9	%

Mortgage finance bonds		875,872		434,275		473,283		530,206		(18.1	%)		(8.2	%)

Other borrowings
Bonds		2,470,669		1,225,007		980,497		565,653		116.6	%		24.9	%
Subordinated bonds		1,004,832		498,216		440,598		490,416		1.6	%		13.1	%
Borrowings from domestic financial institutions		0		0		4,822		0		--	%		--	%
Foreign borrowings		2,209,413		1,095,471		1,183,763		812,267		34.9	%		(7.5	%)
Other obligations		298,229		147,868		118,870		64,193		130.4	%		24.4	%
Total other borrowings		5,983,143		2,966,562		2,728,550		1,932,529		53.5	%		8.7	%
Total other interest bearing liabilities		7,489,532		3,713,460		3,598,371		2,622,161		41.6	%		3.2	%

Derivatives		1,569,555		778,217		568,581		355,922		118.6	%		36.9	%

Other liabilities
Contingent liabilities		2,400,776		1,190,353		997,259		1,024,048		16.2	%		19.4	%
Other		526,914		261,254		294,766		202,115		29.3	%		(11.4	%)
Minority interest		40,432		20,047		19,313		1,522		1217.1	%		3.8	%
Total other liabilities		2,968,122		1,471,654		1,311,338		1,227,685		19.9	%		12.2	%

Shareholders' equity
Capital and reserves		2,277,833		1,129,395		1,110,290		959,757		17.7	%		1.7	%
Income for the year		622,498		308,647		237,872		285,582		8.1	%		29.8	%
Total shareholders' equity		2,900,331		1,438,042		1,348,162		1,245,339		15.5	%		6.7	%

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY		36,752,710		18,222,729		16,755,562		14,843,439		22.8	%		8.8	%

BANCO SANTANDER CHILE

UNAUDITED QUARTERLY INCOME STATEMENTS

Million of nominal Chilean pesos

	IVQ 2007			IVQ 2007			IIIQ 2007			IVQ 2006			% Change			% Change
	US$ thousands			Ch$ millions			Ch$ millions			Ch$ millions			IVQ 2007/2006			IVQ / IIIQ 2007
Interest income and expense
Interest income		993,711			492,702			504,325			253,529			94.3	%		(2.3	%)
Interest expense		(520,140	)		(257,896	)		(261,570	)		(116,630	)		121.1	%		(1.4	%)
Net interest income		473,571			234,806			242,755			136,899			71.5	%		(3.3	%)
Provision for loan losses		(110,637	)		(54,856	)		(46,010	)		(39,514	)		38.8	%		19.2	%
Fees and income from services
Fees and other services income		129,200			64,060			60,856			51,910			23.4	%		5.3	%
Other services expense		(26,449	)		(13,114	)		(11,094	)		(9,705	)		35.1	%		18.2	%
Total fee income		102,751			50,946			49,762			42,205			20.7	%		2.4	%
Net results from financial transactions
Net gain (loss) from trading and mark-to-market		(156,327	)		(77,510	)		(64,091	)		22,772			(440.4	%)		20.9	%
Foreign exchange transactions,net		101,599			50,375			42,145			(4,460	)		(1229.5	%)		19.5	%
Net results from financial transactions		(54,728	)		(27,135	)		(21,946	)		18,312			(248.2	%)		23.6	%
Other operating results
Other operating income, net		(23,420	)		(11,612	)		(11,966	)		(7,869	)		47.6	%		(3.0	%)
Operating expenses
Personnel salaries and expenses		(100,280	)		(49,721	)		(45,831	)		(48,118	)		3.3	%		8.5	%
Administrative and other expenses		(62,434	)		(30,956	)		(31,633	)		(29,943	)		3.4	%		(2.1	%)
Depreciation and amortization		(25,164	)		(12,477	)		(12,148	)		(10,000	)		24.8	%		2.7	%
Total operating expenses		(187,879	)		(93,154	)		(89,612	)		(88,061	)		5.8	%		4.0	%
Other income and expenses
Nonoperating income, net		1,267			628			2,507			9,055			(93.1	%)		(75.0	%)
Income attributable to investments in other companies		(186	)		(92	)		(635	)		(82	)		12.2	%		(85.5	%)
Losses attributable to minority interest		(690	)		(342	)		(890	)		(41	)		734.1	%		(61.6	%)
Total other income and expenses		391			194			982			8,932			(97.8	%)		(80.2	%)
Gain (loss) from price-level restatement		(33,563	)		(16,641	)		(23,902	)		2,480			(771.0	%)		(30.4	%)
Income before income taxes		166,488			82,548			100,063			73,384			12.5	%		(17.5	%)
Income taxes		(23,745	)		(11,773	)		(14,867	)		(12,516	)		(5.9	%)		(20.8	%)
Net income		142,743			70,775			85,196			60,868			16.3	%		(16.9	%)

BANCO SANTANDER CHILE

UNAUDITED YTD INCOME STATEMENT

Million of nominal Chilean pesos

	12M 2007			12M 2007			12M 2006			% Change
	US$ thousands			Ch$ millions			Ch$ millions			2007/2006
Interest income and expense
Interest income		3,359,136			1,665,527			1,168,851			42.5	%
Interest expense		(1,693,984	)		(839,911	)		(556,597	)		50.9	%
Net interest income		1,665,153			825,616			612,254			34.8	%
Provision for loan losses		(367,898	)		(182,411	)		(123,022	)		48.3	%
Fees and income from services
Fees and other services income		479,866			237,927			198,326			20.0	%
Other services expense		(90,765	)		(45,003	)		(35,776	)		25.8	%
Total fee income		389,101			192,924			162,550			18.7	%
Net results from financial transactions
Net gain (loss) from trading and mark-to-market		(255,611	)		(126,737	)		100,312			(226.3	%)
Foreign exchange transactions,net		186,408			92,425			(48,708	)		(289.8	%)
Net result from financial transactions		(69,203	)		(34,312	)		51,604			(166.5	%)
Other operating income results
Other operating income, net		(91,592	)		(45,413	)		(32,960	)		37.8	%
Operating expenses
Personnel salaries and expenses		(355,159	)		(176,095	)		(159,723	)		10.3	%
Administrative and other expenses		(245,143	)		(121,547	)		(110,948	)		9.6	%
Depreciation and amortization		(90,845	)		(45,043	)		(38,613	)		16.7	%
Total operating expenses		(691,148	)		(342,685	)		(309,284	)		10.8	%
Other income and expenses
Nonoperating income, net		19,765			9,800			(4,214	)		(332.6	%)
Income attributable to investments in other companies		(2,664	)		(1,321	)		786			(268.1	%)
Losses attributable to minority interest		(4,145	)		(2,055	)		(151	)		1260.9	%
Total other income and expenses		12,956			6,424			(3,579	)		(279.5	%)
Gain (loss) from price-level restatement		(113,600	)		(56,325	)		(13,782	)		308.7	%
Income before income taxes		733,770			363,818			343,781			5.8	%
Income taxes		(111,272	)		(55,171	)		(58,199	)		(5.2	%)
Net income		622,498			308,647			285,582			8.1	%

BANCO SANTANDER CHILE AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS -2006-2007
	2006												2007
Ch$ million nomnal pesos	1Q06			2Q06			3Q06			4Q06			1Q07			2Q07			3Q07			4Q07
	Reclassified
ASSETS

CASH AND DUE FROM BANKS
Noninterest bearing		346,360			855,315			716,085			947,741			410,617			740,303			647,437			591,117
Interbank deposits-interest bearing		969,594			731,049			307,289			144,666			605,586			291,332			225,446			700,517
Total cash and due from banks		1,315,954			1,586,364			1,023,373			1,092,407			1,016,203			1,031,635			872,883			1,291,634

FINANCIAL INVESTMENTS
Trading		844,288			839,973			671,975			639,461			790,234			669,060			806,778			1,005,631
Available for sale		561,962			543,136			602,872			345,108			360,745			673,992			807,492			779,635
Held to maturity		0			0			0			0			0			0			0			0
Investment collateral under agreements to repurchase		33,036			181,925			14,422			30,807			46,692			31,112			39,192			34,000
Total financial investments		1,439,286			1,565,034			1,289,269			1,015,376			1,197,671			1,374,164			1,653,462			1,819,266

LOANS, NET
Commercial loans		3,958,263			4,006,219			4,082,361			4,048,221			4,172,835			4,221,007			4,333,120			4,657,869
Consumer loans		1,480,355			1,590,374			1,692,432			1,800,507			1,869,318			1,889,268			1,944,579			2,033,125
Mortgage loans (Financed with mortgage bonds)		585,309			555,077			525,963			485,849			456,482			429,819			408,094			385,347
Foreign trade loans		589,509			671,886			656,171			741,776			869,615			663,313			853,479			812,697
Interbank loans		195,798			146,725			134,609			151,491			168,554			350,393			182,051			45,961
Leasing		694,733			720,424			754,572			764,408			787,287			810,598			836,268			879,731
Other outstanding loans		2,199,034			2,343,218			2,519,305			2,681,461			2,775,762			2,955,955			3,134,444			3,346,317
Past due loans		100,382			88,559			88,863			92,559			97,937			105,668			112,130			116,654
Contingent loans		933,590			1,030,589			963,463			1,022,687			1,010,376			1,115,134			996,156			1,191,280
Reserves		(149,112	)		(147,582	)		(160,879	)		(174,064	)		(200,021	)		(211,113	)		(221,070	)		(232,766	)
Total loans, net		10,587,861			11,005,488			11,256,859			11,614,895			12,008,146			12,330,042			12,579,251			13,236,215

DERIVATIVES		305,712			325,163			305,641			372,688			377,628			419,417			584,999			780,775

OTHER ASSETS
Bank premises and equipment		219,510			221,255			222,441			231,360			222,228			226,927			239,049			247,568
Foreclosed assets		13,815			12,778			14,373			15,775			12,641			11,222			13,667			12,868
Investments in other companies		6,600			6,642			6,941			6,654			7,026			5,707			49,140			6,736
Assets to be leased		24,263			20,754			23,619			30,293			27,572			40,271			5,847			58,420
Other		557,395			463,448			483,377			463,991			664,310			773,696			757,264			769,247
Total other assets		821,582			724,877			750,751			748,072			933,777			1,057,823			1,064,967			1,094,839

TOTAL ASSETS		14,470,395			15,206,926			14,625,894			14,843,439			15,533,424			16,213,081			16,755,562			18,222,729

BANCO SANTANDER CHILE AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS -2006-2007
	2006								2007
Ch$ million nomnal pesos	1Q06		2Q06		3Q06		4Q06		1Q07		2Q07		3Q07		4Q07
	Reclassified

LIABILITIES AND SHAREHOLDERS' EQUITY

DEPOSITS
Noninterest bearing
Current accounts		1,481,426		1,572,712		1,487,518		1,663,414		1,676,370		1,721,326		1,717,638		1,984,910
Bankers´ drafts and other deposits		736,502		794,842		787,028		819,583		867,199		927,933		938,409		948,566
Total non-interest bearing deposits		2,217,928		2,367,553		2,274,546		2,482,997		2,543,569		2,649,259		2,656,047		2,933,476

Savings accounts and time deposits		6,264,072		6,645,164		6,816,812		6,909,335		7,280,989		7,343,069		7,273,063		7,887,880
Total deposits		8,482,000		9,012,717		9,091,358		9,392,332		9,824,557		9,992,328		9,929,110		10,821,356

OTHER INTEREST BEARING LIABILITIES
Chilean Central Bank borrowings
Credit lines for renegotiations of loans		6,120		5,752		5,487		5,080		4,605		4,307		4,151		3,972
Other Central Bank borrowings		124,311		166,067		184,147		134,417		237,241		102,145		269,096		142,370
Total Central Bank borrowings		130,431		171,819		189,634		139,497		241,846		106,452		273,247		146,342

Investments sold under agreements to repurchase		96,447		149,641		73,434		19,929		167,280		158,899		123,291		166,281

Mortgage finance bonds		621,469		592,837		560,334		530,206		509,697		484,368		473,283		434,275

Other borrowings
Bonds		448,214		562,778		559,165		565,653		562,285		747,098		980,497		1,225,007
Subordinated bonds		390,756		390,984		490,974		490,416		491,133		477,041		440,598		498,216
Borrowings from domestic financial institutions		0		3,590		3,777		0		0		0		4,822		0
Foreign borrowings		1,547,899		1,637,251		924,776		812,267		615,930		1,164,200		1,183,763		1,095,471
Other obligations		47,421		53,338		43,235		64,193		70,047		52,409		118,870		147,868
Total other borrowings		2,434,290		2,647,940		2,021,926		1,932,529		1,739,394		2,440,748		2,728,550		2,966,562
Total other interest bearing liabilities		3,282,637		3,562,237		2,845,328		2,622,161		2,658,217		3,190,467		3,598,371		3,713,460

DERIVATIVES		277,760		289,098		307,621		355,922		375,290		365,167		568,581		778,217

OTHER LIABILITIES
Contingent liabilities		934,634		1,031,766		964,924		1,024,048		1,012,880		1,116,959		997,259		1,190,353
Other		340,261		224,683		228,038		202,115		327,831		302,219		294,766		261,254
Minority interest		1,518		1,442		1,489		1,522		17,464		17,888		19,313		20,047
Total other liabilities		1,276,413		1,257,890		1,194,451		1,227,685		1,358,175		1,437,066		1,311,338		1,471,654

SHAREHOLDERS' EQUITY
Capital and reserves		1,087,152		940,206		962,424		959,757		1,244,996		1,075,377		1,110,290		1,129,395
Income for the period		64,434		144,779		224,713		285,582		72,189		152,676		237,872		308,647
Total shareholders' equity		1,151,586		1,084,985		1,187,137		1,245,339		1,317,185		1,228,053		1,348,162		1,438,042

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		14,470,395		15,206,926		14,625,894		14,843,439		15,533,424		16,213,081		16,755,562		18,222,729

SANTANDER CHILE AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS -2006-2007
	2006												2007
Ch$ million nomnal pesos	1Q06			2Q06			3Q06			4Q06			1Q07			2Q07			3Q07			4Q07
	Reclassified

CONSOLIDADTE INCOME STATEMENT

INTEREST REVENUE AND EXPENSE
Interest revenue		217,595			341,190			356,538			253,529			288,317			380,183			504,325			492,702
Interest expense		(91,706	)		(167,941	)		(180,320	)		(116,630	)		(132,425	)		(188,020	)		(261,570	)		(257,896	)
Net interest revenue		125,889			173,249			176,217			136,899			155,892			192,163			242,755			234,806
PROVISIONS FOR LOAN LOSSES		(25,471	)		(21,760	)		(36,277	)		(39,514	)		(36,331	)		(45,214	)		(46,010	)		(54,856	)
FEES AND INCOME FROM SERVICES
Fees and other services income		46,540			49,418			50,458			51,910			55,370			57,641			60,856			64,060
Other services expenses		(8,210	)		(9,651	)		(8,211	)		(9,705	)		(10,261	)		(10,534	)		(11,094	)		(13,114	)
Total fees and income from services, net.		38,330			39,767			42,247			42,205			45,109			47,107			49,762			50,946
NET RESULTS FROM FINANCIAL TRANSACTIONS
Net gains from trading and brokerage activities		43,308			39,291			(5,056	)		22,772			15,492			(628	)		(64,091	)		(77,510	)
Foreign exchange transactions, net		(19,997	)		(29,750	)		5,499			(4,460	)		(5,262	)		5,167			42,145			50,375
Net results from financial transactions		23,311			9,541			443			18,312			10,230			4,539			(21,946	)		(27,135	)
OTHER OPERATING RESULTS
Other operating income (loss), net		(7,770	)		(9,133	)		(8,188	)		(7,869	)		(10,537	)		(11,298	)		(11,966	)		(11,612	)
OPERATING EXPENSES
Personnel salaries and expenses		(34,005	)		(39,132	)		(38,468	)		(48,118	)		(37,664	)		(42,879	)		(45,831	)		(49,721	)
Administrative and other expenses		(25,836	)		(27,607	)		(27,563	)		(29,943	)		(28,604	)		(30,354	)		(31,633	)		(30,956	)
Depreciation and amortization		(9,076	)		(9,888	)		(9,650	)		(10,000	)		(9,833	)		(10,585	)		(12,148	)		(12,477	)
Total operating expenses		(68,917	)		(76,626	)		(75,680	)		(88,061	)		(76,101	)		(83,818	)		(89,612	)		(93,154	)
OTHER INCOME AND EXPENSES
Non-operating income (loss), net		(11,017	)		(8,522	)		6,270			9,055			1,052			5,613			2,507			628
Income attributable to investments in other companies		240			409			219			(82	)		134			(728	)		(635	)		(92	)
Losse s atributable to Minority interest		(65	)		(19	)		(28	)		(41	)		(541	)		(282	)		(890	)		(342	)
Total other income and expenses		(10,842	)		(8,132	)		6,460			8,932			645			4,603			982			194
LOSS FROM PRICE-LEVEL RESTATEMENT		2,781			(10,247	)		(8,796	)		2,480			(2,149	)		(13,633	)		(23,902	)		(16,641	)
INCOME BEFORE INCOME TAXES		77,311			96,659			96,427			73,384			86,758			94,449			100,063			82,548
Income taxes		(12,877	)		(16,314	)		(16,493	)		(12,516	)		(14,569	)		(13,962	)		(14,867	)		(11,773	)
NET INCOME		64,434			80,345			79,934			60,868			72,189			80,487			85,196			70,775

	2006												2007
Appendix	1Q06			2Q06			3Q06			4Q06			1Q07			2Q07			3Q07			4Q07

Net interest income		125,889			173,249			176,217			136,899			155,892			192,163			242,755			234,806
Inflation hedge		1,527			(7,488	)		(9,968	)		3,030			(1,445	)		(10,380	)		(19,620	)		(11,020	)
Adjusted net interest income		127,416			165,761			166,249			139,929			154,447			181,783			223,135			223,786
Fee income		38,330			39,767			42,247			42,205			45,109			47,107			49,762			50,946
Core revenues		165,746			205,528			208,496			182,134			199,556			228,890			272,897			274,732
Provisions for loan losses		(25,471	)		(21,760	)		(36,277	)		(39,514	)		(36,331	)		(45,214	)		(46,010	)		(54,856	)
Core revenues net of provision expense		140,275			183,768			172,220			142,620			163,225			183,676			226,887			219,876
Net financial transactions (excl. hedge)		21,784			17,029			10,411			15,282			11,675			14,919			(2,326	)		(16,115	)
Other operating results, net		(7,770	)		(9,133	)		(8,188	)		(7,869	)		(10,537	)		(11,298	)		(11,966	)		(11,612	)
Gross operating income		154,289			191,664			174,443			150,033			164,363			187,297			212,595			192,149
Operating expenses		(68,917	)		(76,626	)		(75,680	)		(88,061	)		(76,101	)		(83,818	)		(89,612	)		(93,154	)
Net operating income		85,373			115,038			98,763			61,972			88,262			103,479			122,983			98,995

Loans
Total Loans		10,736,973			11,153,070			11,417,738			11,788,959			12,208,167			12,541,155			12,800,321			13,468,981
Individuals		4,371,655			4,611,707			4,866,924			5,087,387			5,214,822			5,376,224			5,576,602			5,846,856
SMEs		1,494,802			1,604,724			1,681,803			1,784,876			1,864,258			1,905,480			2,013,521			2,126,952
Total Retail		5,866,457			6,216,431			6,548,727			6,872,263			7,079,080			7,281,704			7,590,123			7,973,808
Instituional		183,052			196,268			196,322			200,173			192,168			191,410			198,446			209,916
Middle-markets		2,125,214			2,249,668			2,324,796			2,296,384			2,348,975			2,302,678			2,355,899			2,491,702
Corporate		1,427,656			1,310,135			1,237,508			1,220,631			1,376,704			1,280,267			1,452,592			1,534,098

Customer funds
Demand deposits		2,217,928			2,367,553			2,274,546			2,482,997			2,543,569			2,649,259			2,656,047			2,933,476
Time deposits		6,264,072			6,645,164			6,816,812			6,909,335			7,280,989			7,343,069			7,273,063			7,887,880
Total deposits		8,482,000			9,012,717			9,091,358			9,392,332			9,824,557			9,992,328			9,929,110			10,821,356
Mutual funds		1,752,278			1,813,195			1,904,069			2,092,193			2,283,807			2,577,630			2,867,438			2,634,461
Customer funds		10,234,278			10,825,912			10,995,427			11,484,525			12,108,364			12,569,958			12,796,548			13,455,817

Avg. balances
Avg. interest earnings assets		12,919,760			13,928,060			14,162,135			13,783,754			14,204,463			14,001,833			14,342,826			15,139,298
Avg. assets		14,590,205			16,621,549			15,818,726			16,392,905			15,334,086			16,525,206			16,862,705			17,832,557
Avg. non-interest bearing liabilities		1,776,033			1,856,259			1,805,267			1,859,557			2,077,301			2,185,216			2,203,374			2,226,485
Avg. equity		1,130,728			1,758,693			1,162,391			1,332,315			1,287,034			1,246,390			1,305,862			1,420,607

Capitalization
Risk weighted assets		10,107,478			10,769,595			11,068,534			11,222,348			11,741,425			11,851,230			12,364,773			13,087,642
Tier I		1,087,152			940,206			962,424			959,757			1,244,996			1,075,377			1,110,290			1,129,395
Tier II		361,713			372,999			458,466			458,546			470,099			467,469			440,432			473,037
Regulatory capital		1,448,865			1,313,205			1,420,890			1,418,303			1,715,095			1,542,846			1,550,722			1,602,432
BIS ratio		14.3	%		12.2	%		12.8	%		12.6	%		14.6	%		13.0	%		12.5	%		12.2	%

	2006												2007
Appendix	1Q06			2Q06			3Q06			4Q06			1Q07			2Q07			3Q07			4Q07

Profitability & Efficiency
Net interest margin		3.9	%		5.0	%		5.0	%		4.0	%		4.4	%		5.5	%		6.8	%		6.2	%
Adjusted net interest margin		3.9	%		4.8	%		4.7	%		4.1	%		4.3	%		5.2	%		6.2	%		5.9	%
Efficiency ratio		38.3	%		35.9	%		35.9	%		46.5	%		37.9	%		36.0	%		34.7	%		37.7	%
Return on avg. equity		22.8	%		18.3	%		27.5	%		18.3	%		22.4	%		25.8	%		26.1	%		19.9	%
Return on avg. assets		1.8	%		1.9	%		2.0	%		1.5	%		1.9	%		1.9	%		2.0	%		1.6	%

Asset Quality
Cost of credit (prov. expense / loans)		0.95	%		0.78	%		1.27	%		1.34	%		1.19	%		1.44	%		1.44	%		1.63	%
PDL / total loans		0.93	%		0.79	%		0.78	%		0.79	%		0.80	%		0.84	%		0.88	%		0.87	%
Coverage ratio		148.5	%		166.6	%		181.0	%		188.1	%		204.2	%		199.8	%		197.2	%		199.5	%
Expected loss (Reserves / Loans)		1.39	%		1.32	%		1.41	%		1.48	%		1.64	%		1.68	%		1.73	%		1.73	%

Network
Branches		361			367			368			397			410			417			425			443
ATMS		1,395			1,443			1,479			1,588			1,635			1,744			1,808			2,004
Employees		7,583			7,782			8,029			8,184			8,691			8,913			9,057			9,174

Market information (period-end)
Net income per share (Ch$)		0.34			0.43			0.42			0.32			0.38			0.43			0.45			0.38
Net income per ADR (US$)		0.67			0.81			0.82			0.63			0.74			0.84			0.92			0.79
Stock price		22.1			20.8			23.5			24.8			25.9			25.2			24.8			24.5
ADR price		43.6			40.3			45.3			48.2			49.9			49.5			50.6			51.0
Market capitalization (US$mn)		7,908			7,317			8,207			8,735			9,045			8,985			9,172			9,248
Shares outstanding		188,446.1			188,446.1			188,446.1			188,446.1			188,446.1			188,446.1			188,446.1			188,446.1
ADRs (1 ADR = 1,039 shares)		181.4			181.4			181.4			181.4			181.4			181.4			181.4			181.4

Other Data
Quarterly inflation rate**		-0.33	%		1.00	%		1.38	%		-0.35	%		0.20	%		1.00	%		2.98	%		2.31	%
Exchange rate (Ch/US$) (period-end)		527.7			547.31			538.22			534.43			539.37			527.46			511.72			495.82

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	BANCO SANTANDER-CHILE

Date: Feb. 14, 2008	By:	/s/ Gonzalo Romero A.
		Name: Gonzalo Romero A.
		Title: General Counsel