OREANDA-NEWS. BNY Mellon, a global leader in investment management and investment services, has been appointed by Banco Santander Chile as the successor depositary bank for its American depositary receipt (ADR) program. 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 US$50.2 billion and equity of US$4.3 billion, employed more than 11,000 people, and had the largest private branch network in Chile, with 474 branches. Headquartered in Santiago, Santander Chile also had one of the best risk ratings in the region with an A+ by Fitch, A by Standard and Poor's, and Aa3 by Moody's as of 2014 year end.

"The U.S. 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 U.S. 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."

"As successor depositary, we look forward to working closely with Santander Chile to help them achieve their investor outreach goals," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "BNY Mellon has been in the Chilean market for over 25 years, having established the first ADR program there in 1990. Our deep roots in the Chilean market give us a strong foundation to help Santander Chile in making the transition to BNY Mellon as seamlessly as possible."

BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs as of June 30, 2015. Acting in partnership with leading companies from over 65 countries, BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services.