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Press release details

Press release details

Press release details

Press release details

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Grupo Security unveils strategic priorities for 2022-2023

With a focus on digital transformation initiatives designed to guarantee sustainable returns in the long term

April 26, 2022 at 1:30 PM EDT

In order to continue growing, consolidate its main businesses and remain faithful to its purpose of contributing to its customers’ financial wellbeing, Grupo Security unveiled its digital strategic priorities, which aim for sustained annual earnings growth of 15% for the next three-year period, as communicated by Grupo Security's CEO, Renato Peñafiel, at today's Annual General Meeting. At the event, the company discussed its performance and results from 2021, and released its strategic priorities and development plans.

Peñafiel explained that “all projects are focused on the sustainability of our businesses. These initiatives are framed within a three-part strategy aimed at consolidating current businesses, exploring opportunities for partnerships and investments in fintechs or startups and strengthening our teams by preserving the distinctive culture that has allowed us to have and retain the best talent.”

As for the Group's 2021 results, Peñafiel explained to shareholders that efforts focused on efficiency, digitalization, corporate culture, brand and sustainability over the last two years have enabled the company to obtain profit of CH$88,603 million, up 36% from the 2020 figure of CH$65,146 million, “the best results in our history.”

Meanwhile, the Chairman of Grupo Security, Francisco Silva, remarked, “Last year we not only dealt with year two of the pandemic but also a climate of uncertainty marked by political instability and weak local and international economic conditions. However, we knew how to adapt and attain pre-pandemic earnings levels.” He also emphasized that “our more than 30 years of experience and track record will help us adapt to the new cycle in the country, take on new challenges and continue to support our customers and contribute to our country.”

However, Silva added that “the political and economic uncertainty that is anticipated for the country, along with negative signs coming out of the constitutional constituent process, will make us tread with caution and restraint this year.

At the meeting, Francisco Silva expressed special recognition and thanks to outgoing directors Horacio Pavez García, Bruno Philippi Irarrázabal and Mario Weiffenbach Oyarzún for their successful involvement, commitment and ongoing support for the Group's development. These individuals were active founding shareholders and have contributed substantially to the Group’s growth since its founding.

Mr. Silva also introduced the Group’s three new directors: Ms. Consuelo Raby Guarda, an attorney with vast experience in corporate and contract law, Mr. Ramón Eluchans Olivares, the former CEO of Banco Security and a member of the Bank’s board, and Mr. Gonzalo Pavez Aro, a member of the boards of Vida Security and Factoring Security and chairman of the board of DEVISA, a property management company.