The Ordinary General Assembly of Banco de Occidente convened today with a clear focus on financial transparency and future growth. During the session, the board approved the latest financial statements, underscoring a robust profitability profile with a consolidated net profit that surpassed 585,000 million. This milestone reflects steady performance across core segments and a disciplined approach to risk management, signaling resilience amid shifting market conditions.
Additionally, the assembly approved a shareholder distribution that totals more than 150,000 million US dollars. This translates to an effective dividend of 80.18 US dollars per share, scheduled to be paid in equal portions within the first ten days of every month from April 2022 through March 2023. The payout demonstrates a strong commitment to returning value to investors while maintaining capital buffers for strategic investments and ongoing liquidity.
César Prado Villegas, head of the financial institution, outlined the sustainability strategy driving the bank’s long-term decisions. He explained how the business model aligns with stakeholder interests, reinforcing governance practices and environmental, social, and governance (ESG) priorities. The focus remains on stability, responsible lending, and inclusive growth that benefits customers, employees, and communities alike.
The organization reported a notable 31% advancement in its digital transformation efforts, highlighting how technology continues to reshape product delivery. Digital channels now handle half of vehicle loan disbursements, just over half of credit card disbursements, more than a third of personal loan disbursements, and a substantial portion of savings account openings. The expansion also contributed to a significant uptake in collective fund participation, illustrating how digital access broadens financial inclusion for a wider segment of savers and investors.
Even after a sovereign rating change last year, Banco de Occidente and its affiliates maintained their ratings with major agencies, reflecting ongoing risk discipline and stable creditworthiness. The bank also reported advancements in its client portals, with upgrades designed to simplify transactions for individuals and businesses alike. In recognition of workplace excellence, the organization earned the Great Place to Work certification and continued to receive Icontec recognition for the third consecutive year, reflecting strong policies that foster trust, collaboration, and loyalty among staff.
New financial products were introduced as part of the bank’s social impact initiatives. An example is the UNICEF credit card, through which 0.5% of total purchases by customers is allocated to support UNICEF’s Water, Sanitation, and Hygiene programs, including efforts to provide access to potable water for vulnerable communities in the country. These initiatives illustrate how consumer choices can translate into tangible community benefits while maintaining a focus on sound financial management and sustainable growth.