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    Paulo Gonzalez

    Research Analyst at Banchile Inversiones

    Paulo Gonzalez is an Analyst at Banchile Inversiones, specializing in equity research and investment analysis for the Chilean financial market. While detailed company coverage and precise performance statistics are not publicly available, Gonzalez is noted for contributing to the firm's research efforts, particularly in evaluating equities within key sectors such as financials, healthcare, and construction. His professional background and career timeline, including prior employers or notable milestones, are not detailed in accessible public records. Information regarding his professional credentials or securities licenses also could not be confirmed from available sources.

    Paulo Gonzalez's questions to BANCO SANTANDER CHILE (BSAC) leadership

    Paulo Gonzalez's questions to BANCO SANTANDER CHILE (BSAC) leadership • Q1 2024

    Question

    Paulo Gonzalez of Banchile sought clarity on the drivers for the Net Interest Margin (NIM) guidance of at least 3.2% and questioned if reaching the long-term ROE target of 17-19% would require a NIM in the high 3% range.

    Answer

    CFO Emiliano Muratore explained that the primary NIM driver is the normalization of monetary policy (falling rates), rather than the FCIC maturity, which has a more arithmetic effect. He confirmed the bank's higher sensitivity to interest rates and agreed that achieving the long-term ROE target would require high single-digit loan growth and a NIM in the 'high 3s', noting that historical NIMs above 4% are now harder to achieve due to a larger mortgage portfolio.

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