ATLÁNTIDA: fostering national progress
Source: Revista SUMMA https://revistasumma.com/atlantida-a-la-par-del-progreso-nacional/
By Alberto López
Honduras' economic development has had a strategic partner for more than a century. This is the opinion of Guillermo Bueso, CEO at Banco Atlántida, the leading bank in the Honduran market, which celebrates its 110th anniversary this February.
At the end of the 19th century, there was only one bank in Honduras, so visionary entrepreneurs decided to establish Banco Atlántida, which was born in the department of the same name, in the city of La Ceiba, on the atlantic coast of Honduras, an important development pole at that time. Since then, it has not stopped growing.
"We have been at the center of all the economic transformations in Honduras, from the banana economy at the beginning of the 20th century to other productive areas that the country has been entering. We finance all areas of the economy, although there are sectors in which we find greater novelty and economic promise, and there lies the formula for our success, in that we know how to adapt and even anticipate change," says Bueso.
To give further support to his words, he recalls the case when the Bank financed the first of four biogas production projects in the african palm industry, which was a success because a cooperative society acquired it for 10 years and paid it off in only six, Bueso also recalled other milestones such as being the first bank to introduce ATMs, 40 years ago, and one of the first to implement online banking in Honduras
A laudable purpose
Bueso highlights another differentiating contribution of the financial institution he manages: being the State's lender of last resource.
"When the government has had liquidity problems, our bank has always come to the support it. In our early days, we were much more comfortable doing so, considering that our market share was around 80%; however, we maintain a high capacity to meet specific requests and we recently became structuring agents, along with Oppenheimer Company, of the lastest international issue. I am very proud that it was the bond with the best conditions ever issued by Honduras".
Banco Atlántida has also accompanied the transformation of the Honduran economy towards the maquila, agro-industry and international commerce, which in the middle of the last century was with Europe and not with the United States, according to Bueso.
Vision
He emphasizes that Atlantida's strategy remains solid because it knows its territories and its customers, while offering attractive and differentiating products.
Through its expansion strategy, Grupo Financiero Atlántida seeks to be an important player in the region. It has also accelerated its digital transformation process in order to achieve greater efficiency and provide a better experience to all its customers in the different countries where it operates.
Main accomplishments during Bueso’s leadership
- First bank in the country to exceed 100 billion lempiras (US$4.06 million) in deposits and loans.
- Pioneer in the issuance of investment funds in El Salvador.
Figures
- 70% is the percentage of large clients served.
- US$600 millions reached through the latest international issuance that supports Honduras through a debt bond.
- +100 billion lempiras (US$4.06 million) in loans in Honduras.