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Grupo Security Posts Profit of CH $21,158 Million for First Quarter 2019

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Grupo Security Posts Profit of CH $21,158 Million for First Quarter 2019

Grupo Security’s CEO, Renato Peñafiel, highlighted the growth of the Group's businesses in Chile and Peru.

Grupo Security posted profit of CH $21,158 million for the first quarter of 2019, based on results filed today with the Financial Market Commission. From a 12-month perspective, the Bank's commercial performance (loans +8.9%) and its efficiency ratio (48.6%) are in line with its business plans.

During the period, both Vida Security and Protecta Security in Peru experienced a rise in annuity sales of 101.4% and 25.4% YoY, respectively, giving the latter market share of 20% in annuities.

The CEO of Grupo Security, Renao Peñafiel, commented that “our projections for the rest of 2019 call for continued returns for our shareholders, through sustained growth of our businesses in Chile and Peru, with conservative risk management and the seal of excellence that has characterized Grupo Security since its formation.”

Highlights

At a Grupo Security shareholders’ meeting on April 29th, the entire Board of Directors was reelected and is now comprised of Francisco Silva, Jorge Marín, Horacio Pavez, Mario Weiffenbach, Juan Cristóbal Pavez, Naoshi Matsumoto, Ana Sainz de Vicuña, Bruno Philippi and Hernán De Las Heras (independent director).