Confidence and security for savers through Banco Ficohsa, leader in assets

Ficohsa Seguros and CALI Foundation join forces to promote public health

According to the report of the National Banking and Insurance Commission (CNBS, in Spanish), released by the entity and based on data at the end of 2022, Honduran banking is in good health, solid and growing at a good pace. This gives greater security and confidence to savers and the general public.

In its latest report, the National Banking and Insurance Commission, released with indicators of the financial system, presents the list of the best banks in terms of assets. And in this last period, the Honduran banking system demonstrates its strength in the way banking assets grew 7.5%, with a total of 34,176 million US dollars, highlighting the confidence of savers and customers in general.

The information issued by the CNBS is a new example of the confidence and certainty that the Honduran population has deposited in the national banking system.

The level of assets indicates the size and credibility of a financial institution, based on the responsibility, professionalism and good management of the money of the people who choose its service. In turn, it is a virtuous circle, since a bank’s leadership in assets generates more benefits for its clients.

According to the report, Banco FICOHSA is the leading bank in Honduras, with assets of US$6.9 billion, followed by Atlántida, Occidente, BAC and Banpaís. Likewise, the ranking that the CNBS publishes on a trimester basis at the end of the year 2022, includes the list of the best-positioned banks in terms of investments. In this case, the number 1 position is also occupied by Banco FICOHSA, with investments of 1,087 million dollars. This also places this same bank among the top 10 at the regional level in asset ranking.

In Honduras, economic activity continues to improve. Investments increased by 8.8%. According to the Central Bank (BCH), despite the unfavorable international context, the Monthly Index of Economic Activity (IMAE) indicates that the country grew by 4.4% from January to November 2022. This improvement was driven by the increase in internal and external demand.

The IMAE measures the main sectors of economic activity and is used to make investment decisions. According to the BCH, in 2022 Honduras was above the average of the Central American region, placing it among the countries with the highest dynamism in its productive activity.

The latest World Bank (WB) report is also aligned with this vision of recovery. According to its economic outlook report, which uses the same parameters foreseen by the BHC, by 2023 economic growth is expected to be between 3.5% and 4.5%. Furthermore, this indicator would improve by 2024, with a projection of 3.7%.

The CNBS ranking shows a solid present and a promising future for the Honduran banking system. Additionally, just as in many countries with robust economies, the level of assets attracts investment and helps development, Honduran financial institutions need to continue to promote and feed back the growth of national economic activity as they have done so far.

As an area of attention in its commitment to responsible banking, the group continues to advance in the development of financial solutions with an environmental focus, in addition to providing financing for renewable energy projects (solar, wind, photovoltaic and hydroelectric), thus fostering development in the region.

In 2022, the institution launched the Mujeres Adelante (Women Forward) program, which promotes the economic growth of women in Honduras. This proposal is part of the strategy of inclusion and equality and provides a gateway to the financial system that is reliable and transparent for many professional women, entrepreneurs and heads of household.

Through this recognition, Grupo Financiero Ficohsa, with the encouragement of its Executive President Camilo Atala Faraj, strengthens its commitment to continue working responsibly and transparently to transform people’s lives. This year it presented the twelfth edition of its Sustainability Report, in which tangible results can be seen in the areas of Environment, Society and Governance.