NEW YORK, Aug. 5, 2015 /PRNewswire/ -- 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. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2015, BNY Mellon had $28.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
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SOURCE BNY Mellon