Banco Santander Chile's

In 2025, Banco BICE and Banco Security merged to form the seventh largest bank in Chile by loan portfolio. Tanner Digital Bank began operations in 2025, focusing on small and medium-sized enterprises, while the digital consumer bank Tenpo is expected to launch in 2026. Competition in the Chilean banking sector includes non-bank and non-financial entities such as department stores, credit unions, and cajas de compensación, which offer credit products including credit cards, consumer loans, and insurance brokerage. Additional non-bank financial competitors include leasing, factoring, and automobile finance companies for credit products, as well as mutual funds, pension funds, and insurance companies for savings products. The subsidiary Getnet competes in the acquiring market against non-bank entities like MercadoPago. Banks continue to be the primary providers of leasing, factoring, and mutual funds, with insurance sales experiencing rapid growth. As of December 31, 2025, the company holds leading market positions in consumer loans, total loans, and checking accounts, along with strong positions in commercial loans, residential mortgage loans, deposits, and branch networks relative to the six largest banks in Chile.