Steven Puig is the new president of the BHD

As part of a process that has been in progress for a decade, aimed at executing its succession plan and advancing in the governance of the financial institution, the Banco BHD Shareholders Meeting appointed Steven Puig as its new executive president.

When offering the information in a meeting-lunch, at the Hotel El Embajador, the now president of the “Holding”, Luis Molina Achécar, said that this is result of a process that has been worked on for ten yearscharacterized by the first change in governance issues and a succession plan.

The first thing Steven Puig said was that he “is ready” to take on a job other than the one he did at the banking institutionwhose process was explained step by step from the beginning of the plan until today by the engineer Molina Achécar, who remains as president of the “Holding”, of the BHD Financial Center.

The organization
Molina Achécar explained that the bank created a multidivisional division with three managements: Insurance and pensions, banking and means of payment and stock market and fiduciary. He also said that together with the other three executive presidents, the Corporate Committee has been formed. He maintained that it is a job carried out by the same team now in different positions.

He specified that the process was thought, developed and executed for 10 years and that the organizations that fail is because they do not do their job on time. governance plan.

“The year 2022 was of great importance for Banco BHD, celebrating the 50th anniversary of our foundation, of renewal and changes with the advances of our transformation plan towards digitized universal banking and notable achievements in financial execution”, he said.

Steven Puig, when explaining the favorable performance of the bank, indicated that 2022 was a challenging year due to the situation that has occurred, in which the BHD prioritized the future business transformation. Puig explained the growth achieved in the bank’s total portfolio last year, by 19.7%he said, whose figure is above 15% to 16% of the financial system,

This behavior generated significant profits for the bank, because the entity not only grew in its budget, but in all its portfolios, he said.

The bank grew last year in more than RD$43,435 million, gaining participation in all types of loans. Puig highlighted all the growth and pointed out that the challenge is to grow in financial contribution (sum of portfolio income minus financial income from bank funding).

In this regard, he said that only last year a contribution of RD$34,000 million and grew by more than RD$3,000 million in the budget and with which they faced investment spending.

Puig also said the bank carries out its internal projects successfully. Regarding the net profit, he said “we grew the results of the bank by more than one billion pesos. From 8.6 billion to 9.8 billion pesos, exceeding what we had in our budget”.

The new executive president of Banco BHD highlighted the importance of portfolio growth with high qualityciting equally the improvement achieved in terms of past due loans, which went from 1.60 to 1.22 between 2021 and 2022.

He also pointed out the increase in the balance of provisions, with which he assures that they are able to face any international uncertainty. Puig pointed out that the Banco BHD has excess provisionswhich allowed closing 2022 with 5.2 billion pesos, “simply for being prudent.”

The income of Banco BHD passed from RD$43,982.0 million to RD$49,804.7 million, It indicated. Net income from Income Tax was RD$9,832.7 million, 13.2% higher than the previous year. In 2022, the BHD Financial Center launched Billet, the brand of the group’s first fintech company.

The bank’s credit portfolio grew 20.4%, while the solvency index stood at 16.4%, exceeding the goals set for 2022.

credit grows
As of December 31, 2022, the net credit portfolio of Banco BHD 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.

assets rise
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.

Related News

Leave A Reply

Please enter your comment!
Please enter your name here