annual report grupo security - Banco Security

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B A N C O S E C U R I T YThe mission of Banco Security, the Group’s principal asset, is to meet the financial needs of medium and largecompanies and of high-income individuals, providing them with a service of excellence that permits maintaining andcultivating long-term relationships. For these purposes, the bank has a complete range of products and services, firstclasstechnological support for all its channels and the support necessary for providing a personalized and qualityattention to its customers.The excellent results of Banco Security in 2007 reflect a strategic alignment under certain business pillars includingexcellence of service, focus on its objective segment, offering a broad range of products and services, having attractiveloyalty programs for customers and efficiency in the use of resources.The net income of the bank and its subsidiaries in 2007 was Ch$27,250 million, with a return on capital and reservesof 19.5%, the highest in the last ten years and a 23.8% real increase over the year before.With loans totaling Ch$1,929 billion at the end of 2007, representing real growth of 11.9% compared to the previousyear, Banco Security was in ninth place among the banks operating in the country, with a market share of 3%. Of itstotal loans, 80% related to the corporate commercial areas and the remaining 20% to Retail Banking loans.Retail Banking continued to be promoted in 2007 and produced important achievements. The strong growth in thenumber of customers, loans and income from this business generated a real increase of close to 28% in its totalrevenues.Similarly, Corporate Banking placed special emphasis on the growth of the most profitable customers, with which themedium companies and regional branches increased their contribution to the bank’s total income by almost 2%.The subsidiaries Valores Security Corredores de Bolsa and Administradora General de Fondos Security, as in previousyears, made an important contribution to the bank’s results. The aggregate net income of these companies amountedto Ch$9,414 million, being 34.5% of the bank’s total net income for 2007 and more than double that of the yearbefore when the two subsidiaries contributed 16.7% of the consolidated result.Loan growth has been achieved while maintaining a strict control of credit risk in all the commercial units whichpermitted a reduction in the past-due loans to total loans ratio from 0.77:1 in December 2004 to 0.57:1 in 2007.Allowances for doubtful loans declined from 1.57:1 to 1.00:1 in the same period. Both ratios compare favorably withthe industry average of 0.75:1 and 1.58:1respectively at December 2007.
annual report 2007grupo securitypage 39n order to support the expansion process, a branch network expansion plan was begun two years ago. Two new officeswere opened last year (Los Cobres and Chicureo), making a total of 19 branches, 14 in Santiago and 5 in the regions.To maintain its leadership position and provide a service of excellence to its customers, Banco Security has organizedits activities around three business areas: Corporate Banking, Retail Banking and Foreign Trade.c o r p o r a t e b a n k i n gThree attention models were defined in 2007 in order to better adapt to the different customer profiles of theobjective corporate segment, as follows:• SPECIALIZED BANKINGCompanies that expect the bank to be an adviser that perfectly understands their business and therefore theirfinancial needs are attended by two specialist areas:· Real Estate Area: companies linked to the real-estate area, advising them and offering them products andservices that best meet their needs.· Multinational Area: with a broad knowledge of the problems of international funds flows, this area attendscompanies that carry out transactions with their parent or related companies abroad.• GLOBAL BANKINGThis area attends companies seeking the best service in the gobal solution of their financial requirements. Twoareas of attention were defined in order to provide the best service:· Large Companies: attends companies with annual sales of over Ch$15,000 million.· Companies: attends companies with annual sales of between Ch$1,500 million and Ch$15,000 million.• TRANSACTIONAL BANKINGThis area attends corporate and institutional customers requiring highly-sophisticated products and services.r e t a i l b a n k i n gThe Retail Banking area of Banco Security is focused on high-income (ABC1) individuals for whom different areasand sub-segments have been defined to achieve a greater specialization and efficiency in attending the differentcustomer profiles:
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Page 10 and 11: Security produced a 148% real incre
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Page 42 and 43: • PRIVATE BANKINGThis is focused
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Page 46 and 47: MUTUAL FUNDS SECURITYSHORT-TERM FIX
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Page 50 and 51: In terms of investment income, life
Page 52 and 53: 2.45%54.9432.71%2.04%44.1901.63%1.5
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