Best bank 2025: Santander
Santander is Chile’s best bank thanks to its financial performance, digital innovation, and commitment to customer-centric banking. With a strong ROAE of 20.2% and net income of Ch$858 billion ($0.9 billion) in 2024, the bank demonstrated robust profitability and operational excellence.
Santander’s digital transformation has been pivotal to its success over the review period. The launch of the Gravity platform – Santander Group’s proprietary cloud-native core banking system – positions the bank as a global pioneer in digital banking.
The success of digital products like Más Lucas and Más Lucas Joven, which offer fee-free, interest-bearing accounts, has propelled digital customer growth to reach over 2.2 million, representing 88% of active clients.
The bank’s leadership in the SME segment is equally impressive, with 39% market share in SME checking accounts. Its acquiring business, Getnet, has significantly enhanced merchant services with real-time settlements and tailored solutions for SMEs and large enterprises alike.
Santander’s ESG credentials are equally strong. With $1.2 billion in green and sustainability-linked financing and top-tier rankings in the Dow Jones Sustainability Index, the bank is a benchmark for responsible banking in Chile.
Finally, its social impact initiatives have empowered over 3.5 million people and supported more than 500,000 through community programmes.
Best investment bank 2025: Scotiabank
Scotiabank firmly established itself as Chile’s premier investment bank over the review period, delivering a year of exceptional performance, innovation and leadership across capital markets, advisory and sustainable finance.
With a commanding 29% market share in local debt capital market transactions and a 78% year-on-year increase in volume, Scotiabank led landmark deals including green and sustainability-linked bonds for CMPC, AES Andes and ENGIE Energía Chile.
In M&A, Scotiabank advised on transformative transactions such as the sale of Esmax Distribución to Saudi Aramco and the acquisition of a 51% stake in the Caserones mine by Lundin Mining, reinforcing its position as a trusted adviser in high-impact cross-border deals.
The bank also demonstrated excellence in structured and syndicated lending, arranging over $9 billion in financings, including the award-winning $817 million Project Aconcagua desalination facility.
Scotiabank’s digital transformation efforts, including the launch of its corporate app and application programming interface-enabled payment solutions, have enhanced client experience and operational efficiency
With a full-service platform, deep local expertise and a forward-looking approach to client needs, Scotiabank continues to shape Chile’s financial landscape. Its consistent delivery of value, innovation and impact makes it Chile’s best investment bank.
Best investment bank for M&A 2025: Banchile Citi Global Markets
Banchile Citi Global Markets has been named Chile’s best investment bank for M&A, reaffirming its leadership in delivering strategic advisory and execution excellence in the country’s most transformative transactions.
Throughout the year, Banchile Citi demonstrated its deep sector expertise and cross-border capabilities by advising on several high-profile mergers and acquisitions across key industries. The firm’s ability to structure complex deals and provide tailored solutions positioned it as the go-to adviser for both domestic and international clients navigating Chile’s dynamic corporate landscape.
Its success in 2024 was underpinned by a strong local presence, a dedicated team of investment banking professionals and seamless integration with Citi’s global platform. This combination enabled Banchile Citi to offer clients unmatched market insight, execution strength and access to global capital.
By consistently delivering value in landmark transactions and maintaining a client-first approach, Banchile Citi Global Markets has solidified its reputation as Chile’s premier M&A adviser.
Best digital bank 2025: Santander
Santander has successfully positioned itself at the forefront of digital banking innovation in Chile.
With over 2.2 million digital customers – 88% of its active base – the bank continues to redefine banking experiences through cutting-edge technology and user-friendly platforms.
The launch of Más Lucas, Chile’s first 100% digital savings and checking account, marked a milestone in accessible banking. With over 288,000 clients and 20,000 new accounts opened monthly, Santander expanded this success with Más Lucas Joven, targeting youth aged 12–17 to foster early financial literacy.
Santander’s Getnet platform offers real-time sales deposits up to five times daily, even on holidays. With over 192,000 affiliated merchants and 278,000 point-of-sale terminals, Getnet has become a preferred solution for SMEs and large retailers alike.
In 2024, Santander Chile became the first Latin American subsidiary to implement Gravity, the Santander Group’s proprietary cloud-native core banking platform, enhancing speed, reliability and scalability.
Backed by a $450 million investment plan focused on digital initiatives and branch transformation, Santander Chile continues to lead at the digital banking frontier.
Best bank for ESG 2025: Scotiabank
Scotiabank has distinguished itself through remarkable strides in ESG practices, making it a deserving recipient of the title Chile’s best bank for ESG.
In 2024, the bank supported over 75 sustainable-labelled bond transactions and 126 sustainable-labelled loans, with loan volumes increasing 114% year-on-year.
Scotiabank played a pivotal role in landmark ESG transactions, including acting as green bond structuring agent for Engie Energía Chile’s debut $500 million green bond and as global coordinator for AES Andes’ $500 million green bond focused on energy storage and green hydrogen. The bank also led Empresas Copec’s first green bond issuance in Chile.
Aligned with its $350 billion climate finance commitment by 2030, Scotiabank provided $40 billion in climate-related finance in 2024 alone. It also expanded its ESG product suite with sustainability-linked derivatives, deposits and green bond total return swaps.
Beyond finance, Scotiabank advanced social impact through its ScotiaRISE initiative and Indigenous financial services team, while launching Canada’s first majority Indigenous-owned investment dealer, Cedar Leaf Capital.
Best bank for corporates 2025: Scotiabank
Scotiabank in Chile has demonstrated robust commitment and innovative strategies to align with the evolving needs of its corporate clients, making it a deserving recipient of the title Chile’s best for corporates.
The bank delivered a 5.7% year-on-year increase in corporate banking revenues, while improving return on risk-weighted assets by 80 basis points and reducing its loans-to-deposits ratio from 2.0x to 1.78x.
The bank’s corporate segment saw a 22.9% rise in primary clients and a 27.7% increase in clients naming Scotiabank as their main cash management bank. This growth was driven by over 70 digital initiatives, including the launch of a new corporate banking app, API-integrated services, and the ScotiaStore platform. These innovations enhanced payment, collection and reconciliation processes, significantly improving operational efficiency.
Scotiabank Chile also led in sustainable finance, offering ESG-linked products and advisory services, and played a pivotal role in landmark transactions such as Copec’s multibank cash pooling and Engie’s debut green bond.
