Grupo Ficohsa Sustainability Report
We celebrate 30 years of commitment together!
About this report
(GRI 2-1, 2-2, 2-3, 2-4)
Over fourteen years, the Ficohsa Group (FG) has published annual sustainability reports as part of the accountability to the different groups of stakeholders. The integrated annual report 2023 considers the most relevant issues for FG and its stakeholders, reflects the work of all those who contribute to the implementation of the business model and the new sustainability strategy, aligned to the criteria of Environment, Society and Governance (ESG), covering 4 pillars of action under which this document is built
Good Corporate
Governance Client-Centered
Collaborator Well-Beign
Promoters of Enviromental and Social Change
The contents of the following report have been validated in the first instance by the Corporate Social Responsibility Committee and Senior Management, with the support of all the areas involved. In addition, we have external verification by an independent third party,
such as the Honduran Foundation of Social Responsibility (FUNDAHRSE), who through the verification letter has established the declaration of compliance with GRI Universal Standard on the present contents of this report.
The information presented reports the main results obtained during the fiscal year, which runs from January 1 to December 31, 2023.
International Standards
of sustainability as the basis of this report
Qualitative and quantitative data of our extra-financial performance are presented, using the international standards of the Global Reporting Initiative (GRI), with special emphasis on general contents related to our organization, activities, governance, strategy, and interest groups
It incorporates for the fourth consecutive year the Sustainability Accounting Standards Board (SASB), for the sectors: Commercial Banks, Consumer Financing, Asset Custody Management activities, Mortgage Financing, Investment Banking, Brokerage House, and Insurance. This methodology responds to the information requirements of investors on ESG issues that affect the financial stability of the company.
Main contributions to the United Nations' objectives for the 2030 Agenda Goals are reported.
We remain committed to the Principles of the United Nations Global Compact of which Ficohsa Honduras has been a member since 2018. For the presentation of this report, new updates for the Communication of Progress (COP) were adopted.
How to read the contents of this report?
The contents of the GRI Standards and SASB metrics are referenced at the beginning of each section and below the titles.
In the annexes section of this report, you will find the list of GRI and SASB standards and Global Compact Principles.
Ficohsa Group keeps an eye on the evolution of the reporting ecosystem for early adoption of International Financial Reporting Standards (IFRS).
Camilo Atala Faraj Presidente de Grupo Ficohsa
I am honored to address you at this crucial time in the history of the Ficohsa Group as we reflect on our
commitment to sustainability.
Since our inception 30 years ago, we have been a company guided by the fundamental family values. The principles of solidarity, empathy, and responsibility towards our communities and collaborators have been the central focus of our mission. During this time, we have kept alive the legacy of our parents, Juan and Toya Atala Faraj, who instilled in us the importance of contributing to social welfare, particularly through inclusive and quality education.
These values are part of the essence of the Ficohsa Group, thus defining our identity as a company that goes beyond. Our business objectives are aligned with sustainability goals, adopting environmental, social and governance criteria that reflect global trends, where integrity and transparency are fundamental pillars in all our actions. So, when we go far, we all go far.
In this regard, we are proud to share with you the significant progress we have made in our path toward sustainability over the past year. Among these milestones, we highlight regional growth through the acquisition of America Insurance in Nicaragua and Asesuisa in El Salvador; we continue to promote banking and financial inclusion initiatives, entrepreneurship, gender, and transforming banking with innovative financial products to meet the needs of our clients in the new digital age. These achievements testify to our continued commitment to sustainable development and the positive impact on our communities.
In the coming years, we see the Group in the future consolidated as one of the most important groups in Central America and we assume it with the responsibility it carries of having a positive impact on the region. That is why this transformation that we are living in considers sustainable development as a basic and fundamental input.
We are confident that, with the support of our collaborators, clients, and partners, we will achieve these objectives and continue to grow with solidity and responsibility, strengthening our regional presence. I would like to express my sincere thanks to all our collaborators, whose tireless dedication is the driving force behind our shared achievements. Their commitment and passion to make the world a better place is inspiring and fundamental to our continued progress.
At Ficohsa Group, we firmly believe that when we move forward together, we achieve great things. Let us continue to work together on this path towards a more prosperous, supportive and sustainable future for all.
Thank you and let´s move forward!
Luis Atala Faraj Vicepresidente de Grupo Ficohsa
Dear colleagues and friends,
It is with great satisfaction that we present the sustainability report of the Ficohsa Group. Our vision is that people will go far, understanding success as something that not only benefits our organization but positively impacts all the people and communities we serve. We strongly believe that when a business grows sustainably, everyone can move forward together towards a prosperous future.
Education has been and will continue to be one of our fundamental pillars, through educational programs and projects implemented by the Ficohsa Foundation, which recently celebrated its 25th anniversary. We work tirelessly to provide children and young people with the necessary tools to build a promising future. We highlight this year the accompaniment with USAID and the Secretary of Education, through the Alliance for Education program, our the commitment to restore 25 basic educational centers with a reach of 10,500 students at the end of the project. We keep alive the legacy of our father, Juan Atala, who always believed that quality education builds prosperous societies, with opportunities for all.
In addition, we promote entrepreneurship as an engine of economic development and employment generation in the region. We believe in the power of effort and creativity to positively transform realities and build a better future. Paying special attention to women entrepreneurs who are an engine for the economy of our region. The promotion of banking through financial inclusion is another of our key commitments. One example is our recent addition to the Partnership for Central America (PCA), in which we are commited to support the economic and social development of the Northern Triangle through investment in digital banking fermenting financial inclusion, and support for entrepreneurship.
In the coming years, we will focus on environmental issues such as carbon 0, sustainable finance, social issues in worker welfare, and socio-economic empowerment, under governance with leadership and long-term growth vision always with integrity and transparency. All this will be achieved thanks to the excellent human talent that makes up the Ficohsa Group. Our more than 6,700 collaborators are the heart of our organization and represent the fundamental pillar for our success and sustainable growth.
Throughout our 30 years, we have upheld our values and principles, guided by an unwavering commitment to the development of Honduras and the region. Our pillars of sustainability are the basis of our management, allowing us to generate economic, social, and environmental value in the places where we operate.
We appreciate the continued support of all those who have been part of this journey, and we look forward to continuing to work together to build a more just, prosperous, and sustainable future for all.
Recognitions
