Grupo Security : profits rose by 14.6% in 2016 to total CH$74,522 Million

Among the highlights of the year, Grupo Security was chosen as one of the best companies to be employed by in Chile according to the Great Place to Work survey, and became part of the Dow Jones Sustainability Chile Index, the country's first stock market sustainability index.

Grupo Security generated net profit of CH$74,522 million during the 2016 financial year, representing annual growth of 14.6%. Furthermore, Grupo Security's shares posted a profit of 25.2% over the return of the accumulated Selective Stock Price Index (IPSA) as of December 2016, while the return on equity rose to 13.1% according to the FECU as reported today to the Superintendency of Securities and Insurance (SVS).

Grupo Security General Manager Renato Peñafiel noted that for the sixteenth consecutive year, the Group was identified as one of the best companies to work for in Chile according to the Great Place to Work survey, highlighting the success of its corporate culture, a point of reference in the effort to balance work, family and personal life in Chile.
With respect to the relationship with its clients, he also highlighted that the company won first place in the National Customer Satisfaction Award and the Customer Service Experience Award, both obtained by Banco Security, as well as the development of different cultural activities and community relationships. Grupo Security has focused on providing a particularly segmented value proposition with a high quality of service covering all of its clients' investment, financing and insurance needs throughout the different stages of their lives.

Also during 2016, Grupo Security became part of the Dow Jones Sustainability Index (DSJI Chile), Chile's first sustainability index. The DSJI Chile is made up of the leading companies in sustainability based on long-term environmental, social and corporate governance factors. Twenty-one companies are currently included in this index.
Renato Peñafiel also highlighted the results obtained and pointed out that 'taking into account the weakened economic context, our businesses showed solid commercial performance which exceeds the prevailing conditions and our own performance in recent years.' Regarding the outlook for the coming year, Peñafiel said that 'this result allows us to take full advantage of the opportunities and challenges of 2017.'

Among the highlights of 2016, he pointed out the sale of the minority stake in Penta Security, a P&C insurance company, which totaled CH$31,652 million, and which formed part of the sale of this company to Liberty International Holdings. This meant a net profit after tax for Grupo Security of CH$14,937 million.
Lastly, in February 2016 Banco Security successfully completed the acquisition of Penta Administradora General de Fondos S.A. and Penta Corredores de Bolsa S.A., along with its immediate merger with AGF Security and Valores Security, respectively. This placed Inversiones Security as one of the leaders in the third-party asset management business.

Translator's note: The FECU is a report based on financial statements in a standardized format required of all public companies in Chile
.