INVATLAN held its 2019 Shareholder’s Annual General Meeting

The Board of Directors of Inversiones Atlántida, of the most prestigious financial group in the country, summoned their shareholders at the Convention Center of the Hotel Honduras Maya to present INVATLAN’s financial results to the end of 2018 and credit their annual dividends.

The INVATLAN annual general meeting was led by the President of the Board of Directors, Guillermo Bueso, who is also Banco Atlántida’s CEO. He highlighted the operations of each of the subsidiaries and the brand renewal of: Leasing Atlántida, Servicios Atlántida and Casa de Bolsa Atlántida.

Regional Expansion

During fiscal year 2018, Atlántida Financial Group has continued to make progress in achieving its goals in a satisfactory manner, continuing with its regional expansion process and developing its financial companies to grow its market share and improve its operating margins.

In El Salvador, they continue to strengthen the local financial conglomerate with AFP Confía; Banco Atlántida El Salvador; Atlántida Capital, Gestora de Fondos de Inversión; Atlántida Securities, Casa de Bolsa; Atlántida Vida, and People insurance. Additionally, the trust and acceptance that they have received from the authorities and from the public generates optimism in the promising future of these companies, who closed 2018 with positive results beyond the set expectations.

In Nicaragua, INVATLAN is finalizing with all the ordered legal prerequisites to be able to open operations to the public, conditioning the facilities and systems to its service scheme. They trust that the social and political problems faced by the Nicaraguan brothers will find the prompt peaceful solution that everyone longs for.

Administration and Results

In line with Corporate Governance best practices, the reforms to the Bylaws of the Atlántida Financial Group have begun, gathering both current regulations and best practices that allow it to define the essential role of the Board of Administration in the management of each company, setting its organizational structure, maximizing value in the interest of shareholders and promoting a culture of information transparency in relation with shareholders, investors, customers, employees, and other stakeholders.

The financial results for the Atlántida Financial Group in 2018 summarize as follows: a net profit of L915.1 million, growing by 7.7% in relation to the obtained in 2017 and which translates into earnings per share of L30.76. This meant a return on equity (ROE) of 10.5% and 7.3% on assets (ROA). INVATLAN assets in relation to the previous year, continued to grow and reached L12,487.3 million, which represents an increase of L915.1 million, equivalent to 7.9%. This growth is due to an adequate management of permanent investments and availabilities, which represent approximately 95.0% of total assets.

The evaluation of its results and administration is reflected in the B+ risk rating, with a stable outlook, granted by the international firms Standard & Poor’s and Fitch Ratings.