It improved the operational effectiveness of its retail banking business; it achieved a similar objective in improving the processes of the main products and certifying those with ISO 9000 certification; and it continued its efforts to push for higher standards in operating efficiency across the entire group. In the retail segment, the group rolled out the first savings programme that allows customers to achieve specific objectives by setting aside a fixed monthly sum.
Last year, Banco Agrícola was involved in the process of becoming part of an international player, having been acquired by Bancolombia, the leading bank in Colombia and part of one of the most important economic groups in that country. The deal allowed Banco Agrícola to access funds at competitive rates, and continue growing and seeking new efficiencies, while also developing new products and segments.
Banco Agrícola achieved significant progress in terms of its financial progress last year. Tier 1 capital rose by 12.03%, assets grew by 4.48% and net profits were up 57% in the year.
“We are very proud to receive the award for Bank of the Year 2007 for El Salvador,” says chief executive Roberto Orellana Milla. “This recognition for our sustainable growth and financial results emphasises that our bank has developed key strategic issues in order to continue being the leader in El Salvador.”
