Operator

Ladies and gentlemen, thank you for standing by, and I would like to welcome you to Banco Santander-Chile's First Quarter 2026 Earnings Conference Call on the 6 of May 2026. [Operator Instructions]. So with this, I would now like to pass the line to Ms. Patricia Perez, Chief Financial Officer. Please go ahead, ma'am.

Patricia Pallacan
Chief Financial Officer

Good morning, everyone, and thank you for joining us today. I am Patricia Perez, CFO of Banco Santander-Chile. I'm joined today by Cristian Vicuna, Head of Strategy and Investor Relations, and Andres Sansone, Chief Economist. We will begin with Andres, who will provide another view of the economic and political environment, Cristian will then walk you through our strategic priorities and review our first quarter results in more detail. We will conclude with a Q&A session.

With that, I will now turn the call over to Andres.

Andrés Sansone

Thanks, Patricia. Let me start with the big picture, since our last webcast, the global backdrop has become more challenging and more uncertain. The main change has been the geopolitical shock in the Middle East and its effects on energy markets. Our baseline scenario assumes that the conflict gradually deescalates but leaves lasting damage, which means oil prices do not return to the levels prevailing before the conflict.

At the same time, risks remain purely due to