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Ficohsa’s 2022 Sustainability Report Highlights Increased Support for Environment

Carlos Zavala, vegetable grower & member of Ficohsa’s De Mi Tierra Program

Foundation has benefitted 150,600 children in 149 pre-schools in 25 years

We see our role as helping others to achieve their goals. This means meeting the needs of our employees and their families, customers, suppliers and communities, while taking care of the environment.”
— Camilo Atala, President of Ficohsa
TEGUCIGALPA, HONDURAS, June 27, 2023/ -- Grupo Financiero Ficohsa launched its 2022 Sustainability Report today, demonstrating the progress the Central American banking services group has made in financial inclusion, ethical banking, and investments in environmentally sustainable projects.

Commenting on the report, Camilo Atala, President of Ficohsa, said, “We see our role as helping others to achieve their goals. This means meeting the needs of our employees and their families, customers, suppliers and the communities where we operate, while ensuring that we take care of the environment.”

In line with Ficohsa’s efforts to act at all times with transparency and integrity, the 2022 Sustainability Report details progress in several areas:

● Ficohsa’s Environmental and Social Risk Analysis System (SARAS) evaluated 30% more credit applications in 2022, and 100% of our Board Members in Central America have been trained on our SARAS system. In 2022, Ficohsa dispersed over US$ 10 million to 15 renewable energy projects.

● We have improved our own environmental performance by reducing our annual energy consumption in Honduras by 20% and our environmental footprint by 4%, recycling nearly 308,000 lbs. of paper, and planting over 15,000 native trees.

● Ficohsa saw a 27% increase in our entrepreneurial banking portfolio, with Banco Ficohsa now supporting 21,000 SMEs in Central America, of which over 50% are women-led.

● Our expanding Mujeres Adelante program provided financial training to over 700 female entrepreneurs. Over 100 communities benefited from the US$ 6.9 million dispersed by our De Mi Tierra program that provides support tailored to the needs of SMEs in the farming sector.

● The Ficohsa Foundation for Early Childhood Education has now benefitted 150,600 children in 149 pre-schools since its inception 25 years ago. In 2022, we invested over US$ 1.4 million in projects to develop local communities in Central America, and 96% of our employees volunteered in the community, benefitting over 43,000 local people. 192 university students have benefited from our Study Abroad program.

● As we expand our financial inclusion program, over 8.6 million people have taken advantage of Ficohsa’s online financial training courses. And our employees have undertaken over 265,000 hours of training as part of their career development.

● Ficohsa’s investments in robust compliance and internal auditing systems are enabling us to grow transparently and with confidence. Our Code of Ethics and Conduct is backed by anonymous and private complaints channels and a robust Anti-Corruption and Bribery Management System.

● Ficohsa received numerous international awards in 2022, including Latin Finance Bank of the Year in Honduras 2022 and the Global Finance Award for Best Bank of the Year 2022 in Honduras.

Luis Atala, Vice President, commented, “Ficohsa has created a culture among its 5,470 employees - of whom over 57% are women - of caring deeply about how we do business. We have a responsibility that goes beyond financial services to drive positive change throughout Honduras and the Central American region.”

A full copy of the report is available here:

Ficohsa is a member of the United Nations Global Compact, and adheres to the recently-updated standards of the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB).

Michelle Zúniga
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