Ficohsa Newsletter

FICOHSA QUARTERLY NEWSLETTER – SUMMER 2024

en julio 12, 2024

Welcome!

As we enjoy the summer, we are delighted to share the latest updates and achievements of Grupo Ficohsa. Our commitment to promoting sustainable development, ethical leadership, and social responsibility remains unwavering. This summer, we have made significant strides, from participating in influential conferences to receiving prestigious awards.

In this edition, you will discover how we continue to champion ethical business practices, support local communities, and drive innovation through our various programs and initiatives. We are proud to highlight our efforts in fostering a culture of integrity, transparency, and collaboration, which are essential for the prosperity of Central America.

Thank you for your continued support and engagement with Grupo Ficohsa. Together, we can create a brighter, more sustainable future for all Central Americans.

Shaping a Sustainable Future: Grupo Ficohsa Leads at ESG-focused Investment Conference

Ficohsa was proud to participate in the conference on the Social and Environmental Impact of Private Investment in Central America’s Northern Triangle, held in Guatemala City. This event gathered influential figures from government, the private sector, and civil society to discuss the transformative role of private investment in the region. The conference was honored by the presence of Guatemala’s President, Dr. Bernardo Arévalo, who underscored the importance of collaboration between sectors to achieve sustainable solutions.

Ficohsa stood out by presenting its forward-thinking sustainability strategy. Our VP of Sustainability, Karla Simón, said, “At Ficohsa, we are committed to a sustainability model grounded in ESG principles and resilience. Working alongside our stakeholders, we are dedicated to generating economic, social, and environmental value. We are convinced that the most effective path forward is one where we join forces for the collective well-being.” Karla’s message underlined Ficohsa’s strategy to foster sustainable development and place education at the cornerstone of social change.

Through initiatives like educational programs and supporting entrepreneurs, such as Ficohsa’s De Mi Tierra program which has already benefited over 100 communities, we are committed to being a catalyst for positive transformation throughout the countries we serve.

Ficohsa Hosts Table at WOLA’s 50th Anniversary Human Rights Awards and Gala

It was with great pleasure that Ficohsa participated in the Washington Office on Latin America (WOLA) 50th Anniversary Human Rights Awards Ceremony and Benefit Gala in Washington, DC.

Guests gathered to honor individuals and organizations that have demonstrated exceptional dedication to human rights in the Americas. The occasion also commemorated WOLA’s five decades of innovative advocacy for human rights and democracy across the region.

Ficohsa was delighted to host a table at the gala, which was not only a celebration but also a poignant reminder of the essential work WOLA continues to do in advocating for human rights and dignity.

Ficohsa is deeply honored to support WOLA and to have the opportunity to applaud the incredible efforts of individuals and organizations like Senator Patrick Leahy, PROVEA, and the Collectives of Family Members of the Disappeared in Guanajuato. Their courage and commitment to human rights serve as a beacon of hope and inspire us all. We look forward to continuing our relationship with WOLA and supporting its vital mission in the years to come.

Ficohsa Joins the Anti-Corruption Declaration Promoted by FUNDAHRSE

Ficohsa reaffirmed its commitment to ethics and transparency by signing the Anti-Corruption Declaration promoted by the Honduran Foundation for Corporate Social Responsibility (FUNDAHRSE). This declaration highlights the dedication of FUNDAHRSE member companies, such as Ficohsa, to strengthen good corporate governance practices.

FUNDAHRSE’s Anti-Corruption Declaration is an initiative that promotes transparency, integrity, and legality in the business sector. This action aligns with the fundamental principles of governance, which include accountability, participation, and responsiveness, key elements for the country’s sustainable development.

By adhering to this declaration, the Ficohsa undertakes to:

Work together to eliminate all forms of corruption.
Operate under a framework of legal compliance and applicable standards.
Conduct business activities in a fair, honest, and transparent manner.
Reject and not offer bribes, directly or indirectly, to obtain advantages in any area.
Not accept bribes, directly or indirectly, to grant commercial advantages.
Develop a program to implement and support these principles, identifying and mitigating corruption risks in its line of business.
Educate staff and those under its influence on anti-corruption issues.

By joining the FUNDAHRSE Anti-Corruption Declaration, Ficohsa reaffirms its firm commitment to ethics, transparency, and integrity in all its operations. This commitment not only strengthens the trust of its clients and partners but also contributes to the sustainable development of Honduras, demonstrating its leadership in promoting a fair and corruption-free business environment.

FUNDAHRSE is a business initiative that represents companies, individuals, academic institutions, and associations. The organization drives business sustainability and transformation through leadership and responsible business conduct.

Camilo Atala Recognized as One of the Most Ethical Business Leaders in Central America and the Caribbean; Banco Ficohsa Ranked #1 in Honduras

This award by Revista Summa is a testament to Mr. Atala’s integrity, visionary leadership, and commitment to the sustainable development of the region.

At Grupo Ficohsa, we are immensely proud of our President’s achievements and his relentless contribution to the social and economic growth of Central America. Mr. Atala’s leadership has consistently driven the organization toward greater transparency, ethical business practices, and impactful community engagement.

This recognition by Revista Summa underscores the importance of ethical leadership in fostering a culture of trust and accountability within the business sector. Grupo Ficohsa remains committed to upholding these values as we continue to contribute to the sustainable development and prosperity of the communities we serve.

Meanwhile, the National Banking and Insurance Commission (CNBS) published a report highlighting the strength and solidity of the Honduran financial system. CNBS ranked Banco Ficohsa as the number one Honduran bank in total assets, reaffirming Banco Ficohsa’s leadership position and sending a positive signal of confidence and solidity to the market.

Ficohsa Featured in Forbes for its Significant Contributions to the Agricultural Sector

As part of its De Mi Tierra program, Ficohsa has financed more than 200 million lempiras (over US 8 million), providing subsidies to more than 1,000 producers. USAID has now signed an agreement with the Agro-commercial Consortium of Honduras (Conagroh) to benefit thousands of small and medium-sized national producers through a project partially funded by Ficohsa.

Launched by Ficohsa in 2008, De Mi Tierra provides financing to the Rural Business Development Foundation for technical assistance, and the La Colonia Supermarket to ensure the purchase of farmers’ products. This program has been instrumental in supporting rural development and ensuring the sustainability of local agriculture.

Through this program and other strategic partnerships, Ficohsa continues to demonstrate its commitment to the economic and social development of Honduras. The feature in Forbes highlights the importance of these efforts and the positive impact they have on the communities we serve.

We want to hear from you…

alejandra.zelaya@ficohsa.com | www.ficohsa.com | Twitter @GrupoFicohsa

Ficohsa Foundation Completes Refurbishment of 17th Honduran School

por Ficohsa

en junio 21, 2024

en Uncategorized

7,800 Students Have Benefited From Partnership with USAID, Honduran Government

So far the Ficohsa Foundation’s school renovations have benefited 7,800 students and 280 teachers.

TEGUCIGALPA, HONDURAS, MAY 30, 2024: The Ficohsa Foundation, in collaboration with USAID and the Honduran Ministry of Education (SEDUC), has completed the refurbishment of the 16th and 17th schools under the Alliance for Education initiative to support education reform and improvements to school infrastructure in Honduras. This partnership has now benefited more than 7,800 students, renovated 185 classrooms, and impacted 280 teachers in Honduras.

Earlier this month, the Rafael Pineda Ponce Educational Center in Cerro Verde, Choloma, became the 16th school to complete extensive refurbishments, benefitting over 500 first through ninth grade students and 15 teachers spread over eight classrooms. Last week, the Ficohsa Foundation inaugurated the 17th school, República de Chile, in Puerto Cortés, with renovations benefitting nearly 700 students and over 30 teachers from 17 classrooms. Both schools received new or renovated roofs; refurbished floors, sidewalks, and access areas; updated electrical systems with LED lighting; the installation of water and sanitation systems; and redecorating throughout.

Commenting on the achievements, Ficohsa Group President Camilo Atala said, “The Ficohsa Foundation is focused on the education of our children. We know that, by improving the quality of education and restoring dignity to classrooms, we are contributing to the future of Honduras and the region. We are proud that we are fully achieving our goal of supporting the improvement of schools and classrooms to benefit thousands of children, teachers, and parents. But we must continue our work.”

Ken MacLean, Project Director at USAID, said: “The Alliance for Education is an example of how collaboration between different sectors can generate a positive and lasting impact on society. With the support of USAID, Ficohsa Foundation, and SEDUC, educational conditions are being created that allow students to develop their full potential, contributing to the progress and development of Honduras.”

To date, the Ficohsa Foundation has invested 17 million lempiras (around US$ 685 thousand) on the renovation of 17 schools. The Foundation’s goal is to renovate more than 250 classrooms in 25 schools, providing vastly improved learning environments for 10,500 students.

The Ficohsa Foundation for Children’s Education is committed to supporting underserved communities across Honduras and Central America. Since its establishment 25 years ago, the Foundation has transformed the lives of 150,000 pre-school children, trained over 300 teachers, delivered over 12 million meals, and created 29 technology centers equipped with over 500 computers in 150 schools in Honduras and Central America.

Grupo Financiero Ficohsa is the leading Honduran financial services group, offering banking, insurance, pensions, brokerage and money exchange. Ficohsa’s innovative online solutions enable customers to carry out their banking at any time or place, expanding financial inclusion across the region. Ficohsa is a member of the United Nations Global Compact. Ficohsa supports the goals of Central America Forward on strengthening governance, combating corruption, and improving security. Ficohsa’s 2022 Sustainability Report outlines the bank’s significant progress in financial inclusion, ethical banking, and investments in environmental sustainability.

FICOHSA QUARTERLY NEWSLETTER – SPRING 2024

por Ficohsa

en abril 30, 2024

en News

Ficohsa is at the forefront of promoting strong governance and ethical leadership throughout Central America. In a region where corruption presents a barrier to progress, distorting markets and undermining trust, our commitment to combating these challenges is unwavering.

As a dedicated member of the Partnership for Central America, established by U.S. Vice President Kamala Harris, Ficohsa passionately supports the Central America Forward initiative that seeks to strengthen governance, combat corruption, and improve security. Our significant investments in compliance systems and internal auditing, supported by a robust Anti-Corruption and Bribery Management System, ensure that our operations are transparent and our growth is conducted with integrity. And we’re encouraging our clients to adopt the same rigorous policies and procedures.

In this edition, discover how Ficohsa champions ethical business practices—from hosting compliance forums to launching awards that foster innovation among young entrepreneurs and educational programs that empower future generations. Our commitment to doing business the right way is evident in every action we take, helping to drive social and economic growth, increase foreign investment, and pave the way for a more stable, prosperous future.

Ficohsa’s Leadership in Promoting Compliance Culture

Ficohsa played a pivotal role in the recent forum on “Compliance Culture as a Country Vision,” organized by the newly inaugurated Honduras Chapter of the World Compliance Association (WCA). This event, held to promote business integrity, underscored Ficohsa’s commitment to high ethical standards and transparency, crucial for building a just and prosperous society.

The forum featured a panel discussion on “Realities and Challenges of Compliance in Honduras,” moderated by Rodolfo Dumas, Vice President of WCA Honduras, and attended by representatives from UNITEC and the Central American Bank for Economic Integration. Panelists exchanged insights on regulatory issues, ethical conduct, and the significance of ongoing training in compliance. The discussions highlighted how a robust compliance policy is not only a strategic asset for companies but also a key driver of investment and development.

Ficohsa’s comprehensive compliance programs go beyond legal mandates to include voluntary measures like our Anti-Corruption and Bribery Management System. These initiatives are designed to prevent and detect irregular practices, thereby mitigating risks, fostering a culture of business integrity, and contributing significantly to the progress and well-being of society.

Celebrating Innovation: 7th Technological Innovation Award (PIT)

In partnership with the Central American Technological University (UNITEC), Ficohsa was excited to launch the 7th Technological Innovation Award (PIT). This competition celebrates the creativity of young Central American tech entrepreneurs, aiming to drive societal transformation through technological development.

PIT recognizes and rewards projects that promise significant regional impact. This year’s focus areas include Health, Logistics, Digital Transformation, Financial Technology, and Education. The top projects will receive seed capital and UNITEC’s support to develop their business plans.

At the launch event, Angélica Ardila, Regional Vice President at Grupo Ficohsa, and Rosalpina Rodríguez, Rector of UNITEC, both emphasized the program’s role in fostering innovation and empowering young change-makers. “We invite all young entrepreneurs to join this venture and help transform our society through technology,” Ficohsa’s Ardila told an excited audience.

Empowering the Next Generation: Ficohsa Foundation and UJCV Launch New Mentoring Program

The Ficohsa Foundation has teamed up with José Cecilio Del Valle University (UJCV) to launch a mentoring program aimed at enhancing financial literacy among children and young adults. This initiative engages university students in creating educational materials for teachers and parents, significantly enhancing the financial literacy of young learners.

Juan Carlos Atala, President of the Ficohsa Foundation, highlighted the project’s potential: “This collaboration with UJCV embodies our commitment to the transformative power of financial education and aims to equip young minds for a prosperous future.” Julio Raudales, Rector of UJCV, added, “Our joint effort is vital for embedding financial education into everyday life, empowering our students to support national educational initiatives.”

Ficohsa Ranked Among the 5 Most Reliable Brands in Honduras

Ficohsa has been recognized as one of the most trustworthy brands in Honduras, according to a recent study showcased by Estrategia y Negocios magazine in partnership with Datos Group and Pizzolante. The research, which marks the magazine’s 25th anniversary, highlights the significance of business trust—crucial for consumer and investor confidence, and regulatory compliance.

Ficohsa has distinguished itself as a leader within the banking sector, earning the top spot as the most trustworthy financial group in the country. This accolade underscores Ficohsa’s role as a pillar of reliability and trust, and showcases its significant contribution to the economic and social development of the region.

In addition, Camilo Atala, President of Grupo Ficohsa, has been recognized as one of the most ethical business leaders in Central America and the Caribbean by Revista Summa. This award is a testament to Mr. Atala’s integrity, visionary leadership, and commitment to the sustainable development of the region. At Grupo Ficohsa, we are immensely proud of our President’s achievements and his relentless contribution to the social and economic growth of Central America.

Driving Growth: Ficohsa’s Commitment to Women-Led SMEs and Financial Inclusion

Addressing the PCA bi-annual Call to Action with United States Vice President Harris, Luis Atala, Executive Vice President of Banco Ficohsa, reaffirmed Ficohsa’s commitment to significantly expand its SME loan portfolio to $910M within the next five years, with a focus on empowering women-led businesses through preferential loans, tailored insurance options, and comprehensive financial education.

Ficohsa has successfully increased its small and medium enterprise loan portfolio by $60M since joining the Partnership for Central America (PCA) in July 2023, supporting 8,500 new businesses. The bank’s strategy includes investing $50 million in digital services to expand financial inclusion and ensure effective use of remittances in local economies.

Addressing the meeting, Luis Atala, emphasized the importance of these efforts, “Financial inclusion is critical for the long-term development of Central America, enabling entrepreneurs to start and expand businesses, creating jobs and driving development, particularly among women-owned SMEs.”

Mr. Atala further highlighted the bank’s aim to integrate 200,000 more people into the financial system over the next five years, while partnering with organizations like Glasswing International to provide essential banking services to underserved communities.

In 2023, Ficohsa helped launch the Anti-Corruption and Transparency Initiative for Central America Project (ACT Project), a joint initiative of the Partnership for Central America (PCA) and Transparency International (TI). The ACT Project encourages companies in El Salvador, Guatemala, and Honduras to use the OECD Due Diligence Guidance for Responsible Business Conduct as a reference framework to strengthen corporate integrity and investment conditions in the region.

Ficohsa is committed to the PCA Corporate Pledge on the Rule of Law to ensure its business operations in El Salvador, Guatemala, and Honduras do not adversely affect or violate the rights of stakeholders. The ACT Project strives to support members’ compliance with this Rule of Law Pledge; encourage companies to adopt, implement, and monitor transparent and legal business practices; and foster a vibrant and expanding network of corporate integrity in the region.