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Based on the financial statements (FECU format) filed today with the CMF:

Grupo Security reports 41% rise in profit for first quarter 2023 

Continuing with the strong performance achieved in 2022, Grupo Security reported profit of MCH$42,344 for the first quarter of this year, which represents an increase of 40.8% compared to the same period last year, as reported today by the company to the Financial Market Commission (CMF).

The results are due to the good performance of Banco Security, which had profit of MCH$43,544, 70.6% higher than the same period in 2022, associated with higher margins in the commercial and treasury areas. Vida Security obtained profit of MCH$10,067, with a 19.8% rise in premiums compared to the first quarter of the previous year, and a investment income on the proprietary trading portfolio of MCH$37,008 as of March, 10.1% higher than the same period in 2022. Factoring Security reported profit of MCH$3,345. In the case of Inversiones Security, profit reached MCH$2,388.

Regarding the results, the chairman of Grupo Security, Renato Peñafiel, pointed out that "the good management of the different business units, despite very restrictive financial conditions, made it possible to achieve profit of MCH$142,600 in the last twelve months, which represents earnings per share of CH$35.3, 48% higher than in March 2022."

Fernando Salinas, CEO of Grupo Security, said that "in 2023, although we are facing a context of economic uncertainty, complex financial conditions and ongoing regulatory changes, we believe that we have opportunities associated with open finance that we seek to make profitable."

Salinas added that "we are developing new business opportunities, enriching our value offering and deepening our participation in the Peruvian financial industry.

Grupo Security earned first place in the Great Place to Work Chile ranking among companies with more than 1,000 workers, an award that reflects its ongoing commitment to respect and care for people. Banco Security also won the Customer Confidence Index (ICC) Award in the Membership and Financial Industry categories.

In addition, in April Grupo Security published its Integrated Report for the 2022 fiscal year, which also includes its management and progress in environmental, social and corporate governance (ESG) factors. In environmental matters, its carbon footprint was reduced by 9% with respect to the 2021 measurement, a recycling program was implemented in the corporate buildings and a series of training sessions for senior management was carried out.