Camilo Atala Faraj, Chairman of Ficohsa Group
It is a time of great challenges and opportunities for the Central American
region, I am very pleased to share these thoughts with you. At Ficohsa Group, this year we have taken firm steps to continue acting and promoting
sustainability, contributing in a tangible way to the well-being and
development of all. These are the principles that guide us with determination towards a more just, resilient and prosperous future.
For more than 30 years we have worked inspired by the core values of our
parents, Juan and Toya Atala Faraj, who taught us that development only
makes sense when it is aligned with the wellbeing of all, especially through
access to education, inclusion and generation of opportunities.
Given the need for greater financial inclusion, we have also seen opportunities to adapt, innovate and move forward with greater determination. These challenges have driven the evolution of our strategy, strengthening our digital capabilities, promoting gender equity and directing investments to key productive sectors. As a result, this year we managed to double our digital placement and halve the cost per acquisition.
Our growth has been made possible by a clear vision and consistent
execution, always in line with the Sustainable Development Goals. In 2024,
after a multidisciplinary work of our teams and thanks to our good
transparency practices, we achieved a milestone in our history: we
consolidated a strategic alliance with the government of the United States,
through DFC (U.S. International Development Finance Corporation) and
CITI(*), giving us a $250 million loan, the largest in Central America and second largest in all of Latin America, which aims to empower small and mediumsized enterprises, especially those led by women.
We continue to expand the “Mujeres Adelante” program, which benefits more than 5,000 women entrepreneurs, and strengthen our “De Mi Tierra” program, with more than USD $8.35 million in agricultural financing. Through initiatives such as “Your Financial Awareness,” we have promoted financial inclusion and education in the region, reaching more than 100,000 people, while continuing to generate opportunities that drive entrepreneurship, equity and sustainable social development.
We have advanced our digital transformation, reaching 64% of digital
penetration in people banking and modernizing our operations with artificial intelligence, advanced analytics and predictive risk models. We also strengthen our governance with the ISO 37301 certification, which not only strengthens our position as a leader in the financial industry, but also sets a standard in the region for responsible and sustainable business practices; what connects with the recognition as the company with best reputation in Honduras by Merco ranking.
These achievements reflect our conviction that sustainability is not just a goal, but a permanent path. We see the Ficohsa Group as a key actor in the
economic consolidation of the region, guided by innovation, inclusion and
the creation of shared value among all parts of society, including the state. In this sense, we trust that our tax contribution, which in 2024 reached US$ 72.9 million, means not only the transparent fulfilment of formal duties in the field of taxes, but a contribution to the aspiration that the countries where we operate can go further and further.
With 6,650 employees and a presence in six countries, we are convinced that together we can transform lives, empower our communities and build a more sustainable future. I deeply thank each of them for being part of this journey. I invite you to continue joining e orts, from your spaces, to continue building a present with purpose and a tomorrow with hope. Because when we reach far, we all reach far.
Luis Atala Faraj,
Vice-Chairman
Ficohsa Group
Sometimes looking back helps us to reafirm our vision for the future.
This is the case of this 2024 Sustainability Report, with which we reach
15 consecutive years reporting with transparency our performance as
a financial group.
The satisfaction comes not only from doing our duty, but lso from
seeing that our sustainability management comprehensively addresses the economic, environmental, social and governance aspects that are fundamental for both Ficohsa Group and our stakeholders.
Our sustainability strategy is fully integrated into the usiness areas
and acts as a key pillar in the transformation that rives our Galileo
Mission, an initiative that projects us towards the future with vision
and commitment.
We are driven by the goal of strengthening environmental, social and
governance (ESG) sustainability in every imension of our operation,
promoting entrepreneurship, education and financial inclusion, in a
healthy work environment and with concrete actions to reduce our
environmental footprint. In this sense, as far as the environment is
concerned, work began on the zero carbon roadmap in 2024, which
will guide the organization´s objectives in the short term, medium and
long term to reduce our emissions in direct consumption of
operations related to fuels and/or refrigerants and indirect
consumption related to the supply of electricity.
Economically, we can proudly say that all the financial and strategic
decisions of the Ficohsa Group aspire to serve as an agent for change
and sustainable progress for everyone, be it partners, clients, allies, or
di erent communities, whom we continually listen to in order to
understand and address their priorities. In 2024, the update of the
materiality analysis began, a participatory process with the di erent
interest groups in the region, to identify priority themes that should
guide e orts in this area and ensure a sustainable future for all.
As an important social milestone, I can proudly say that we completed
the restoration of 25 Elementary Education centers located in
di erent parts of Honduras, under The Alliance for Education, an
initiative that transformed the future of Honduras through education,
Leaving as a result 300 renovated classrooms in various communities
of the country and benefiting 10,600 students, with significant
improvements in school infrastructure, helping to ensure adequate
spaces for learning and development.
In governance, reinforcing the ethical leadership that guides us, at
Grupo Ficohsa we reafirm our commitment to acting with ethical
conduct adhering to solid corporate values, as evidenced by
obtaining the ISO 37301:2021 Compliance Management System
certification. This commitment is complemented by the continuous
implementation of the Management and Bribery System, through
which we firmly maintain a position of zero tolerance for any form of
corruption.
These, and other achievements that are summarized in this 2024
Sustainability Report, are made possible primarily thanks to the talent
of more than 6,650 employees at regional level, who daily make our
aspiration to be one of the most important financial groups in Central
America a reality, and a generator of positive impact on people´s lives.