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 March, 2004
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 x 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 ¨ No x
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 ¨ No x
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 ¨ No x
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 |
Sequential Page Number | |||
| 1. |
Translation of financial statements published in La Segunda newspaper on February 20, 2004 |
3 |
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Banco Santander - Chile and Subsidiaries
CONSOLIDATED FINANCIAL STATEMENTS AT December 31
ASSETS
| 2003 Ch$ (Millions) |
2002 Ch$ (Millions) |
|||||
| CASH AND DUE FROM BANKS |
984,068.2 | 987,553.7 | ||||
| LOANS: |
||||||
| Commercial loans |
2,512,358.7 | 2,928,237.9 | ||||
| Foreign trade loans |
432,598.5 | 538,217.3 | ||||
| Consumer loans |
777,190.7 | 716,281.7 | ||||
| Mortgage loans |
1,493,818.7 | 1,600,004.4 | ||||
| Lease contracts |
431,942.2 | 426,641.0 | ||||
| Contingent loans |
829,020.7 | 626,731.8 | ||||
| Other outstanding loans |
828,580.0 | 932,978.6 | ||||
| Past-due loans |
170,094.5 | 168,439.4 | ||||
| Total loans |
7,475,604.0 | 7,937,532.1 | ||||
| Reserves for loan losses |
(167,869.4 | ) | (156,466.8 | ) | ||
| Total loans, net |
7,307,734.6 | 7,781,065.3 | ||||
| OTHER LOANS OPERATIONS: |
||||||
| Interbank loans |
143,025.7 | 4,165.0 | ||||
| Investments purchased under agreements to resell |
43,575.1 | 335,497.0 | ||||
| Total other loans operations |
186,600.8 | 339,662.0 | ||||
| INVESTMENTS: |
||||||
| Government securities |
586,771.3 | 1,218,048.7 | ||||
| Other financial investments |
709,004.8 | 265,712.8 | ||||
| Investment collateral under agreements to repurchase |
574,265.9 | 703,931.2 | ||||
| Assets for leasing |
32,919.3 | 37,681.2 | ||||
| Assets received or awarded in lieu of payment |
39,347.2 | 25,141.4 | ||||
| Other not financial investments |
212.8 | 215.8 | ||||
| Total investments |
1,942,521.3 | 2,250,731.1 | ||||
| OTHER ASSETS: |
285,949.9 | 205,642.1 | ||||
| FIXED ASSETS: |
||||||
| Bank premises and equipment |
209,031.1 | 214,934.0 | ||||
| Investments in other companies |
4,878.9 | 4,752.6 | ||||
| Total fixed assets |
213,910.0 | 219,686.6 | ||||
| TOTAL ASSETS |
10,920,784.8 | 11,784,340.8 | ||||
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CONSOLIDATED FINANCIAL STATEMENTS AT December 31,
LIABILITIES AND SHAREHOLDERS’ EQUITY
| 2003 Ch$ (Millions) |
2002 Ch$ (Millions) | |||
| DEPOSITS AND OTHER LIABILITIES: |
||||
| Current accounts |
1,121,141.2 | 1,110,297.5 | ||
| Savings accounts and time deposits |
3,550,407.2 | 4,291,564.0 | ||
| Bankers drafts and other deposits |
855,140.9 | 740,008.3 | ||
| Investments sold under agreements to repurchase |
465,335.6 | 737,101.2 | ||
| Mortgage finance bonds |
1,283,396.5 | 1,576,891.3 | ||
| Contingent liabilities |
829,801.0 | 626,668.2 | ||
| Total deposits and other liabilities |
8,105,222.4 | 9,082,530.5 | ||
| BONDS: |
||||
| Bonds |
257,262.1 | 404,450.3 | ||
| Subordinated bonds |
388,382.3 | 459,296.8 | ||
| Total bonds |
645,644.4 | 863,747.1 | ||
| BORROWINGS FROM BANCO CENTRAL DE CHILE AND OTHER FINANCIAL INSTITUTIONS: |
||||
| Chilean Central Bank credit lines for renegotiations of loans |
12,465.8 | 15,903.6 | ||
| Other Central Bank borrowings |
342,482.3 | 14,092.6 | ||
| Borrowings from domestic financial institutions |
35,800.1 | 62,739.1 | ||
| Foreign borrowings |
540,756.1 | 610,456.6 | ||
| Other obligations |
64,850.6 | 77,633.1 | ||
| Total borrowings from financial institutions |
996,354.9 | 780,825.0 | ||
| OTHER LIABILITIES: |
154,747.5 | 71,278.8 | ||
| Total liabilities |
9,901,969.2 | 10,798,381.4 | ||
| VOLUNTARY PROVISIONS: |
356.9 | 12,784.5 | ||
| MINORITY INTEREST |
1,067.2 | 793.7 | ||
| SHAREHOLDERS’ EQUITY: |
||||
| Capital and reserves |
807,914.1 | 805,364.0 | ||
| Fluctuations of financial investments |
2,502.6 | 8,203.7 | ||
| Income for the period |
206,974.8 | 158,813.5 | ||
| Total shareholders’ equity, net |
1,017,391.5 | 972,381.2 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
10,920,784.8 | 11,784,340.8 | ||
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BANCO SANTANDER - CHILE AND SUBISIDIARIES
CONSOLIDATED INCOME STATEMENT
For the periods between January 1, and December 31,
| 2003 Ch$ |
2002 Ch$ |
|||||
| OPERATING INCOME |
||||||
| Interest income |
613,562.2 | 1,041,405.0 | ||||
| Gain from trading and brokerage activities |
101,147.3 | 96,941.4 | ||||
| Fees income |
137,009.7 | 125,908.5 | ||||
| Gains from foreign exchange transactions |
151,957.5 | — | ||||
| Other operating income |
13,407.6 | 8,265.6 | ||||
| Total operating income |
1,017,084.3 | 1,272,520.5 | ||||
| Less: |
||||||
| Interest expense |
(310,876.3 | ) | (517,009.5 | ) | ||
| Losses from trading and brokerage activities |
(74,482.5 | ) | (66,803.3 | ) | ||
| Fees expenses |
(25,170.7 | ) | (22,792.7 | ) | ||
| Losses from foreign exchange transactions |
— | (25,583.6 | ) | |||
| Other operating expenses |
(32,529.1 | ) | (26,588.9 | ) | ||
| Gross margin |
574,025.7 | 613,742.5 | ||||
| Personnel salaries and expenses |
(126,164.1 | ) | (148,922.7 | ) | ||
| Administrative expenses |
(83,933.4 | ) | (100,914.2 | ) | ||
| Depreciation and amortization |
(40,161.9 | ) | (39,727.8 | ) | ||
| Net margin |
323,766.3 | 324,177.8 | ||||
| Reserve for loan losses |
(113,009.4 | ) | (101,273.0 | ) | ||
| Recovery of loans previously written off |
33,921.5 | 25,373.0 | ||||
| Operating income |
244,678.4 | 248,277.8 | ||||
| OTHER INCOME AND EXPENSES: |
||||||
| Non-operating income |
19,728.1 | 20,939.2 | ||||
| Non-operating expenses |
(19,228.3 | ) | (79,019.3 | ) | ||
| Income attributable to investments in other companies |
1,669.4 | 445.8 | ||||
| Loss from price-level restatement |
(7,702.3 | ) | (13,147.6 | ) | ||
| Income before income taxes |
239,145.3 | 177,495.9 | ||||
| Income taxes |
(43,679.5 | ) | (27,695.3 | ) | ||
| Net income after taxes |
195,465.8 | 149,800.6 | ||||
| Minority interests |
(160.4 | ) | (183.4 | ) | ||
| Net income before voluntary provisions |
195,305.4 | 149,617.2 | ||||
| Voluntary provisions |
11,669.4 | 9,196.3 | ||||
| NET INCOME |
206,974.8 | 158,813.5 | ||||
| ROBERTO JARA CABELLO | OSCAR VON CHRISMAR CARVAJAL | |
| Accounting Manager | General Manager |
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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: March 3, 2004 |
By: | /s/ Gonzalo Romero | ||||
| Name: | Gonzalo Romero | |||||
| Title: | General Counsel | |||||
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