According to the results reported to the CMF, during the first half of 2022 Grupo Security recorded a net profit of 66,948 million pesos (75,225,451 USD), an increase of 65% over the same period in 2021. .
In this regard, Renato Pinavel, President of Grupo Security, which combines private banking, investments, insurance brokerage, factoring and real estate, explained that all subsidiaries achieved a positive result, backed by margin improvement in commercial areas and good treasury performance.
The results were explained mainly by the figures of Banco Security, whose profit amounted to 67,843 million pesos (76 million US dollars), as a result of the impact of growth in the financial margin of the commercial areas, an increase of 13.1% overall. placements.
In the case of Vida Security, despite the volatility in the financial markets, the company recorded a 3.4% increase in its results. Factoring Security also featured a 20.7% year-over-year growth in hires, and a strong recovery in travel security sales.
“We hope to continue to grow with a strong commitment to the corporate digitization process, with the goal of continuing to improve the service we provide to our clients,” Grupo Security General Manager Fernando Salinas noted.
On the other hand, Grupo Security is recognized as one of three Chilean companies and the only company in the national financial sector, in the ranking of the best places to work in Latin America, according to the Great Place to Work.
Added to this is the recognition of AGF, a subsidiary of Banco Security with four Salmón Awards.
In addition, the AGF has signed an agreement with Global Fund Manager PineBridge Investments Ireland Limited, through which it will participate as sub-investment manager of the Pareturn PineBridge Latin American Corporate Bond Fund, headquartered in Luxembourg. This fund has a five-year track record, with $166 million in assets under management.
Changes in routing
At the beginning of the month, in a board meeting, the group reshuffled its board of directors. Francisco Silva has tendered his resignation from the Board of Directors and President of Grupo Security, retiring after a successful 36-year career at the holding company, of which he was one of the founders, following the creation of Banco Security Pacific, which would become Grupo Security since 1991.
In his place, the Board of Directors appointed Renato Pinavel as President, who to this day has served as the General Commander of Grupo Security, and is also one of its founders.
During August, Francisco Silva will also leave the position of President of Banco Security and other subsidiaries of the group, positions that will be held by Renato Pinavel.
At the request of the Board of Directors, Silva will remain associated with the management of Grupo Security by advising on matters he knows, and participating on various credit, finance, investment and digital committees.
In place of Renato Peñafil, the Board of Directors decided to appoint Fernando Salinas as General Manager of Grupo Security. With an extensive path of over 19 years in the group, Fernando Salinas has to date worked as Director of Finance and Corporate Management at the holding.
said Renato, the new head of the security group Grupo Pinavel.
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