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Grupo Security reports a 65% increase in profits for the first half of the year

The results reflect the favorable execution of its strategy, which focuses on digitalization and sustainable returns.

August 17, 2022


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According to the results filed with the Financial Market Commission (CMF) today, Grupo Security posted profit of MCh$66,928 for the first half of 2022, up 65% with respect to the same period in 2021.

Grupo Security Chairman, Renato Peñafiel, explained that all subsidiaries posted favorable results with support from improved commercial area margins and strong treasury division performance.

The results are primarily attributable to Banco Security figures. Profit of MCh$67,843 reflects growth in the financial margins for commercial areas with a 13.1% increase in total loans. Meanwhile, despite financial market volatility, Vida Security recorded a 3.4% improvement in results. Factoring Security posted loan growth of 20.7% YoY, and Travel Security experienced strong recovery in sales.

Grupo Security Chief Executive Officer, Fernando Salinas, remarked, “We plan to continue growing with a strong commitment to digitalizing the companies and continuously improving the service we offer customers.”

Grupo Security was one of three Chilean companies and the only one in the Chilean financial sector to earn a place on Great Place to Work’s ranking of Best Workplaces in Latin America.

Additionally, Banco Security’s fund management subsidiary, AGF, won four Salmon Awards. AGF also signed an agreement with global fund manager PineBridge Investments Ireland Limited. Under the agreement, AGF participates as a Sub-Investment Manager of Pareturn PineBridge Latin America Corporate Bond Fund, domiciled in Luxembourg. The fund has a five-year track record and MUS$166 in Latin American assets under management.