Bancamiga on its 16th Anniversary: ​​”Our balance sheet is extraordinarily positive”

The Executive President of Bancamiga, Ariel José Martínez Coujil, stated that, upon reaching its first 16 years, Bancamiga occupies the third position in foreign currency deposits in the ranking of private banks in the country and exceeded one million accounts

Being the fifth private bank in the country’s financial system, third in foreign currency deposits, fifth in total deposits and being the one that has achieved the highest year-on-year growth in its loan portfolio are elements that lead Bancamiga’s Executive President, Ariel José Martínez Coujil , to qualify as extraordinarily positive the balance of the institution in its first 16 years.

He expressed that, after becoming Banco Universal in 2017, the development of the institution has accelerated, which has been reinforced by technological innovation and by a young, trained, proactive human resource eager to launch products and services in a fast, easy and customer friendly.

“This has made customers trust the bank, which is evidenced by a 160 % increase in total deposits in the last four years to currently stand at 170 million dollars.”

He indicated that being the third bank in foreign currency deposits with 135 million dollars has been possible because its clients find in Bancamiga an innovative institution, with versatile and useful products to satisfy their needs, which can be used both in Venezuela and abroad. .

Martínez also made reference to the loan portfolio, which stands at 39 million dollars and has enjoyed the same good development of deposits, achieving the highest year-on-year growth compared to the last five years.

“Our credit portfolio is healthy, solid and with projection,” he stated, while adding that efforts will continue to focus on attracting new customers, opening new agencies and promoting different formulas from the traditional ones to offer services.

Strategic objectives of the institution

The Executive President of Bancamiga expressed that among the strategic objectives for this year, Financial Strength and Business Management stand out.

In this sense, it is expected to increase deposits from the public both in bolivars and in foreign currency, maintain credit intermediation at 80 % of deposits in bolivars and increase the volume of the credit portfolio business, as well as increase the participation quota in the market.

To achieve greater positioning, it is planned to launch 14 new products during 2023 and lead the bank with the largest number of points of sale, so that by the end of the year it will exceed 150,000 POS.

“We have already taken a fundamental step by being the first with Contactless technology (without contact) in our points of sale.”

He indicated that despite the strength that our digital banking maintains, Bancamiga needs a physical and structured position in regions where it is currently not present. The expansion strategy with new agencies will be maintained, estimating reaching all the states of the country, with the presence of 50 branches distributed throughout the national territory.

Ariel José Martínez Coujil highlighted that the average number of new account openings per month stands at an average of 35 thousand, which allowed for this first quarter to exceed one million accounts.

Public confidence in Bancamiga

A historic event for the institution was achieving registration with the National Securities Registry in 2021 and subsequent authorization, in order to be listed on the Caracas Stock Exchange in 2022. This year it plans to start operations in the capital ring.

He recalled that, in recent years, Bancamiga has promoted with strength and commitment different Corporate Social Responsibility programs that have innovation and entrepreneurship as strategic axes and education, health, sports and the environment as fields of action.

Within the framework of Bancamiga’s sixteenth anniversary, Martínez wanted to thank once again the effort and mysticism of a group of men and women who, with dedication, responsibility and professionalism, have given their best contribution to boost the bank’s growth.

“I am very repetitive in this. The productivity of the institution is only possible through the talent and effort of our collaborators. It is the passionate work of each one that has achieved that Bancamiga is positioned as the fifth private bank in the financial system and that we have an image of respect in the market. I will always have words of gratitude towards our people, and that must be highlighted”.

Finally, the Executive President stated that this Thursday Bancamiga will launch the campaign “Juntos hacemos equipo”, in which Venezuelans with unlimited talent such as Amanda Dudamel, Deyna Castellanos, Antonio Díaz, Federico Pisani and Henry González join the institution as their representatives.

With information from Bancamiga

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