APAP Financial Results Drive New Business Strategy

The executive president of the Popular Association of Savings and Loans (APAP), Gustavo Ariza, said that the excellent financial results for the fiscal year at the end of 2022 promote the new business strategy and strengthen its presence in the financial system.

“As a result of the search for new challenges, this strategy, which is based on the vision of our board of directors, points to a greater growth of APAP in the next five years, with a strong focus on our clients and their needs,” he stressed. Ariza in a meeting with media executives.

He explained that in the transformation process of the new strategic plan, a change in the organizational structure was approved that strengthens the first level areas, in line with market trends and best sustainability practices.

Within this framework, in addition to his appointment as executive president, the executive vice presidencies of Personal Banking, Corporate Banking, Treasury, and Digital and Experience were created, strengthening the business structure with a view to optimizing the comprehensive customer experience and adapting the offers to the segment needs and preferences.

Likewise, and with the purpose of improving the agility of the service, internal capacities were strengthened with the creation of the senior vice-presidencies of Finance, Strategy and Administration; Operations and Technology; and Talent, Transformation and Sustainability.

In the same way, the control and compliance functions were strengthened, with the creation of the senior vice-presidency of Risks, Legal and Compliance and the Executive Vice-presidency of Audit.

“This organizational transformation process has become the main driver of the business with an extraordinary impact on its main financial indicators,” said the APAP executive.

“The transformation has involved developing a new organizational mentality with room for controlled risk where you can undertake, be disruptive and reach your maximum potential, positively impacting financial results and customer experience,” Ariza stressed.

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He indicated that the process of transforming the business into APAP accelerated support for the SME and commercial segment with a business line of more than one billion additional pesos in the portfolio.

He highlighted the digital component as a transversal aspect of business transformation, leading the entity to be recognized for its experience and innovation in the way it reaches the customer.

He highlighted other efficiency initiatives with a significant impact on collection, supply and other key business processes. Financial Results Gustavo Ariza reported that during fiscal year 2022 the entity showed favorable results in its financial indicators with net profits of 3 thousand 40 million pesos and assets in the order of 127 thousand 45 million pesos.

As part of the assets, the credit portfolio grew by 23.7%, amounting to 75 thousand 814 million, with a delinquency rate of 1.3% and a past-due portfolio coverage of more than 90 days of 290.2%.

APAP’s solvency index was 28.0%, surpassing the indicator of the financial system (22.9%). In turn, the commercial credit portfolio reached 9 thousand 978 million and within the products with the highest growth, SMEs reached 51.8%, followed by 46.1% credit card, 37.8% consumption and 23.0% in the portfolio. mortgage.

The executive president of APAP reported that the investment portfolio reached 29 thousand 971 million, with a growth of 24.2% compared to December 2021. The total deposits reached 82 thousand 594 million, of which the savings portfolio achieved a amount of 28 thousand 28 million. “The efficiency index was 60.6%, being one of the best among the entities of the financial system, evidencing optimal control of expenses during the organizational transformation process initiated during this period,” concluded Ariza.

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