Based on financial statements (FECU format) filed with CMF today:
Grupo Security reports 43% increase in profit for first half of 2023
As of June, the holding comapny reported earnings per share of CH$39.3, on increase of 36% compared to the same period last year.
August 17th, 2023
Grupo Security reported positive results for the first half of this year, with profit of MCH$95,513, up 43% from the same period last year. For the last twelve months, profit reached MCH$158,887, or 36% above the same period in 2022, and earnings per share was CH$39.3, based on information disclosed to the Financial Market Commission (CMF).
During the period, subsidiary Banco Security reported profit of MCH$93,870, up 38.4% compared to the previous year, explained by higher margins in the commercial and treasury areas.
The chairman of Grupo Security, Renato Peñafiel, noted that "we are in the midst of a complex economic scenario. However, as a company we continue to work hard to consolidate our business with a long-term outlook, always keeping our customers at the center of what we do, as the driving force to continue moving towards a future of increasingly digitized and customized solutions for each of them."
As for other subsidiaries, Vida Security recorded profit of MCH$15,047, with premiums up 30.4% from the same period last year. Meanwhile, Factoring Security reported profit of MCH$7,216, stable in comparison to the first half of 2022.
Travel Security obtained profit of MCH$2,905, an increase of 74.9% compared to the same period of the previous year, driven by recovering sales levels. As for Protecta Security Peru, the subsidiary boosted its profits by 86.2% compared to the first half of 2022.
Grupo Security CEO Fernando Salinas explained that "we have continued to make strides on the digital development plan for our businesses in Chile, preparing ourselves for a world of open finance that will allow us to offer better and innovative products and services in a personalized way. We also continue to evaluate different alternatives to expand our participation in the Peruvian financial industry.
As part of its digital transformation strategy, the company has developed several new products. During August, Banco Security launched Security up!, the first 100% digital checking account in Chile that includes lending products from day one. The company also launched Security Hub, a secure platform for commercial customers to carry out transactions with heightened agility.