Banco BHD held its Annual Ordinary Shareholders’ Meeting, in which it reported that the results for the year 2022 exceeded the goals set for the year. Likewise, the meeting approved the appointment of Steven Puig as president of Banco BHD. Luis Molina Achécar remains as president of the BHD Financial Center.
As of December 31, 2022, Banco BHD’s net credit portfolio reached RD$254,499.3 million for a growth of 20.4%, which was reflected in an increase in participation in all segments of that market. Regarding deposits, these went from RD$321,149.3 million to RD$351,167.5 million, while assets amounted to RD$459,744.6 million.
The total income of Banco BHD went from RD$43,982.0 million to RD$49,804.7 million. With regard to profits net of income tax, these stood at RD$ 9,832.7 million, higher by 13.2% than the previous year.
When appearing before the assembly, Molina Achécar highlighted the prudent management and health of the portfolio. The delinquency and overdue portfolio indicator stood at 1.2%, with provision coverage of 3.6 times. On the other hand, the solvency index was 16.4%, 1.6 times higher than required.
He highlighted that “the year 2022 was of great importance for Banco BHD, celebrating the 50th Anniversary of our foundation, renewal and changes with the progress of our transformation plan towards digitized universal banking and notable achievements in financial execution. ”.
At the end of 2022, 80% of Banco BHD’s clients used the digital channels of the financial institution.
CHANGES IN THE ORGANIZATIONAL STRUCTURE
The Annual Ordinary Shareholders’ Meeting of Banco BHD approved the appointment of Steven Puig as president of the financial institution and, as such, president of the company and its Board of Directors. Puig was the executive president of Banco BHD.
“In the ten years he has been with the company, Steven has shown ample capacity and strong values, while he has led important initiatives, the most transcendental being the technological and digital transformation process that the institution is carrying out to respond to the present and future needs of our clients, and guarantee the sustainability of our institution”, commented Molina Achécar.
For his part, Puig thanked the appointment. “I assume with gratitude this great responsibility of giving continuity to the trajectory of successes and this new moment in the evolution of BHD, of which the engineer Molina has been a strategist and leader”, he expressed.
Luis Molina Achécar, president of the Bank to date and with a career spanning five decades in this institution, remains president of the BHD Financial Center, the entity that owns the different BHD companies. The executive presidents of the three business divisions of this conglomerate report to him: banking and means of payment, insurance and pensions, and stock market and trust. Likewise, he continues on the Board of Directors of Banco BHD and holds the presidency of its Strategy Committee.
“This reorganization has the characteristic that, although the roles of some of its members have changed, the corporate team remains intact, with coordinated work and under the same direction,” said Molina Achécar.
As part of the organizational changes, the Board of Directors of Banco BHD appointed Luis Lembert as Executive Vice President General Manager of this financial institution and Josefina González as Senior Vice President of Personal and Business Banking.
This evolution of the structure of Banco BHD and the BHD Financial Center corresponds to the plan that the organization has been implementing for ten years to give continuity to its business strategy and in coherence with the best corporate governance practices and with its vision of corporate responsibility.
RESULTS OF THE BHD FINANCIAL CENTER
Regarding the management of the BHD Financial Center, the consolidated net profits amounted to RD$ 11,067.6 million as a result of its participation in the profits of affiliated and investee companies, and other income, which represents an increase of 8.5%. Consolidated assets reached RD$ 507,286.6 million for an increase of RD$ 39,425.9 million, which represents 8.4% more than the previous year.
In 2022, the BHD Financial Center launched Billet, the brand of the first fintech company of this business group, which has the first electronic payment entity license approved by the Monetary Board to operate in the Dominican Republic.