The 2023 fiscal year closed with positive figures for Bancoagrícola, as expressed by the financial vice president, Alexander Pinilla, "These positive results for the bank are a reflection of the loyalty and preference of our customers. It is thanks to all salvadorans who choose us every day that we are able to put our purpose into action".

Pinilla explained that US$1,344 million was disbursed in business with purpose during 2023, reaching 28% compliance with the goal of US$18,126 million from 2020 to 2030, whose objective is to promote projects in three lines of action: strengthening the country's productive fabric, building more sustainable cities and communities, and promoting financial inclusion.

In 2023, US$806.3 million was earmarked for the competitiveness of the country's productive fabric, US$233.6 million for agribusiness, US$522.9 million for exporters, and US$49.8 million for SMEs. For the financial institution it is essential to generate more conditions to support entrepreneurship to generate employment, innovation, and development.

In financial inclusion, the bank disbursed US$435.6 million, focusing US$350.5 million on consumer loans for women and US$85.1 million on inclusion. It is worth noting that US$6.6 million was disbursed for Mujer Futuro loans, a line of credit for financing companies led by women in the SME segment, which contributes to the formalization of the economy and the closing of social gaps.

The third item in this portfolio corresponds to building sustainable cities and communities, where the bank injected resources for US$102.1 million, mainly in climate finance such as renewable energy and energy efficiency, and housing projects. Financing for energy efficiency helped mitigate the emission of more than 98 thousand tons of CO2 during the year.

Alexander Pinilla emphasized that "Bancoagrícola's strategy is sustainability, which translates into our goal of promoting well-being for everyone in El Salvador, and as the country's leading bank, as the bank of the salvadoran people, we have that responsibility; we have a role as promoters of productive activity and facilitators of opportunities.

The gross interest-bearing loan portfolio closed the year with US$4,012 million, a year-on-year growth of US$79.1 million, close to 2%, and deposits with US$4,204 million, an increase of $72 million, equivalent to 1.7%.

"Our goal for 2024 is to double growth, we expect the loan portfolio to increase by more than 4.0% and deposits by 3.8%”, said Bancoagrícola's VP of Finance.

Bancoagrícola has the largest share of the salvadoran market with a 39% share in savings accounts, 25% in the loan portfolio and 24% in deposits.

In digital channels, it closed 2023 with more than 557 thousand active digital clients in Banca Móvil, e-Banca Personas, e-Banca Empresas and Bancoagrícola Empresas App, which represents a growth of more than 25% compared to 2022.

Translated by: A.M