BNY Mellon has been appointed by Banco Santander Chile as the successor depositary bank for its American depositary receipt (ADR) programme.
Each ADR represents 400 ordinary shares and trades on the New York Stock Exchange under the symbol ‘BSAC.’
Santander Chile’s ordinary shares trade on the Santiago Stock Exchange under the code ‘BSANTANDER.’
As of December 31, 2014, Banco Santander Chile was the largest bank in Chile in terms of total assets and equity, with total assets of $50.2bn (€46bn) and equity of $4.3bn (€4bn), employed more than 11,000 people, and had the largest private branch network in Chile, with 474 branches.
“The US is a key strategic market for Santander Chile in terms of our investor relations effort,” said Robert Moreno, managing director of Investor Relations at Banco Santander Chile.
“Santander Chile, one of Chile’s most liquid stocks, has a long history of working with US investors and is looking forward to taking this to the next level by continuing to build a successful ADR program in conjunction with BNY Mellon,” he concluded.