HomeEquities ScoreWhy did Banco Santander-Chile (BSAC) stock plummet on Tuesday?

Why did Banco Santander-Chile (BSAC) stock plummet on Tuesday?

Banco Santander-Chile (BSAC) shares fell 0.20% in after-hours on Tuesday, October 12, 2021, and closed the daily trading at $17.875. Even in the regular trading session, BSAC’s stock lost 7.15%. BSAC shares have risen 30.44% over the last 12 months, and they have moved down 7.87% in the past week. Over the past three months, the stock has lost 1.81%, while over the past six months, it has declined 29.07%.

Let’s see what’s going on with the company?


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BSAC upcoming financial results announcement

On October 12, 2021, Banco Santander Chile’s ( BSAC) announced that it will release its third-quarter 2021, financial results on Friday, October 29, 2021, at 11.00 AM (Eastern Time). The Bank’s Officers participating in the conference call are Emiliano Muratore, CFO, Robert Moreno, Manager of Investor Relations, and Claudio Soto, Chief Economist. A question-and-answer session will follow the presentation.

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BSAC returns to the Swiss market

On October 12, 2021, Santander Chile (BSAC) returned to the international market and successfully issued a bond in Swiss francs for CHF 190 million (equivalent to the US $ 205 million) for a five-year term, achieving a spread of 60 basis points over the reference rate, which is equivalent to a coupon of 0.2975%.

Dividend declaration

On September 28, 2021, the board of Banco Santander announced an interim distribution from 2021 earnings through a cash dividend and share buyback amounting to a total value of c.€1.7 billion. The Board announced a cash dividend of 4.85-euro cents per share, payable from 2 November 2021.

BSAC reforestation plan

On October 7, 2021Santander Chile (BSAC) announced to invest 1.5 million euros investment in Spain’s biggest reforestation plan which will offset 82,000 tons of CO2 emissions and create jobs over the next three years. Santander is committing to plant 275,000 trees in three Spanish forests with the Motor Verde initiative

Conclusion

We were unable to find any recent news or development which could be linked with hits poor performance on Tuesday. Let’s see what financial results it release for Q3 2021 on October 29?

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About BSAC

Banco Santander Chile is the largest bank in the Chilean market, with total assets of $ 58,813 billion, net loans of provisions of $ 33,719 billion, deposits of $ 29,478 billion, and total equity of $3,418 billion. In addition, it has 344 branches, 1,257 ATMs, and 10,240 employees.

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