Santander Chile and LATAM Airlines renew historic alliance for 7 years

1/7/2019, 10:38 PM (Source: GlobeNewswire)

Santiago, January 7, 2019,

Banco Santander Chile has agreed with LATAM Airlines to renew and extend for 7 years the commercial and strategic alliance that they have maintained for 24 years and that will benefit more than one million customers included in the SANTANDER LATAM Pass program.

Claudio Melandri, President of Santander Chile, said: "We want to deliver a service of excellence, and that also includes our clients being able to access the best travel experience with LATAM, with whom we already have the best flight alliance in the market. We wanted to take it a step further by renovating for seven more years and with an even more attractive offer. "

Banco Santander Chile, the country's largest bank, strengthens its commercial alliance with LATAM Airlines, the largest airline in Chile and Latin America, forming the fourth largest loyalty program in the world. The agreement will continue to contribute to the consolidation of the Bank's leadership in the Chilean market.

For 2019, it is estimated that Banco Santander clients will take over one million trips free of charge thanks to the SANTANDER LATAM Pass Program.

About Banco Santander               
Banco Santander Chile is the largest Bank in the Chilean market in terms of assets, loans and equity. As of September 30, 2018, we had total assets of Ch$38,026 billion (U.S.$57.9 billion), outstanding loans net of allowances for loan losses of Ch$29,168 billion (U.S.$44.4 billion), total deposits of Ch$20,762 billion (U.S.$ 31.6 billion) and equity of Ch$3,129 billion (U.S.$4.8 billion). Our BIS ratio up to September 2018 was 13.0%, with a core capital ratio of 10.2%. Our long-term credit risk rating are A1 by Moody's, A Fitch and A Standard & Poor's.

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Source: Banco Santander-Chile via Globenewswire

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