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Corporate Presentation 2020 Disclaimer
Corporate Presentation 2020 Disclaimer Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) is an issuer of securities in Colombia and in the United States.. As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. Grupo Aval is also subject to the inspection and supervision of the Superintendency of Finance as holding company of the Aval financial conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Details of the calculations of non-GAAP measures such as ROAA and ROAE, among others, are explained when required in this report. This report includes forward-looking statements. In some cases, you can identify these forward-looking statements by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these and other comparable words. Actual results and events may differ materially from those anticipated herein as a consequence of changes in general, economic and business conditions, changes in interest and currency rates and other risk described from time to time in our filings with the Registro Nacional de Valores y Emisores and the SEC. Recipients of this document are responsible for the assessment and use of the information provided herein. Matters described in this presentation and our knowledge of them may change extensively and materially over time but we expressly disclaim any obligation to review, update or correct the information provided in this report, including any forward looking statements, and do not intend to provide any update for such material developments prior to our next earnings report. -
BAC International Bank Inc
BAC International Bank Inc. Primary Credit Analyst: Fernando Staines, Mexico City 52 (55) 50814411; [email protected] Secondary Contact: Jesus Sotomayor, Mexico City (52) 55-5081-4486; [email protected] Table Of Contents Major Rating Factors Outlook Rationale Related Criteria WWW.STANDARDANDPOORS.COM/RATINGSDIRECT NOVEMBER 4, 2020 1 BAC International Bank Inc. Additional SACP bbb- Support 0 -1 + + Factors Anchor bb+ Issuer Credit Rating ALAC 0 Business Support Strong Position +1 Capital and GRE Support Moderate 0 Earnings 0 Risk Position Adequate 0 Group BB+/Stable/B Support 0 Funding Average 0 Sovereign Liquidity Adequate Support 0 Major Rating Factors Strengths: Weaknesses: • BAC International Bank Inc.'s (BIB) main strengths • Recent economic struggles related to the COVID-19 stem from its funding structure that leans on a stable pandemic, coupled with the historical political and pulverized deposit base with manageable vulnerability within the region could represent a short-term financial obligations. challenge for the bank's profitability and asset • Lead player in consumer lending and the largest quality metrics. financial conglomerate in Central America; and • Large exposure to consumer segment could • Highly diversified by geography, economic sector, represent additional pressures on asset quality and client, allowing us to rate the bank above the metrics during the pandemic. sovereign rating on Costa Rica (B+/Negative/B), to • Our current moderate capital and earnings which it is highly exposed. assessment incorporates the region's high economic risks. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT NOVEMBER 4, 2020 2 BAC International Bank Inc. Outlook: Stable The stable outlook on BIB continues to reflect that on the parent Banco de Bogotá (BdeB; BB+/Stable/B). -
INCAE Identity
04 INCAE Identity 06 Message from the President 08 Change Agents INDEX 20 Our Faculty 24 Academic Alliances 28 Corporate Partners 38 INCAE’s Global Reach 42 50th Anniversary 52 Our Impact 56 Far-Reaching Initiatives Accounts 70 Governance Structure INCAE IDENTITY INCAE INCAE IDENTITY IDENTITY 4 5 50 years making history INCAE Business School, Today, INCAE focuses on three key ac- • Research, teaching, and the use of founded in 1964, was an tivities modern management concepts and te- chniques. initiative launched by the • Masters programs in areas key to La- • Strengthening analytical skills, and governments and business tin American development. mastery of complex economic, political community of Central America. • Executive Education programs and and social phenomena. seminars. The initiative received support • Facilitating dialogue, understanding, from the President of the • Research projects that foster compe- and collaboration between individuals, titiveness in the region, whose applied United States, John F. Kennedy, different sectors and nations. focus combines best practices and and advisors from the Harvard global knowledge with the reality of the Business School, in a process Latin American context. led by Harvard Business School VISION professor George Cabot Lodge Our goal for the next 50 years is to con- and Central American MISSION tinue to be recognised as a world-class businessman Francisco de Sola. business school, and the best in Latin For 50 years, INCAE Business School America: a leader in business adminis- has actively -
Memoria Anual 2016 Memoria Anual 2016 2 Memoria Anual 2016 | BAC|Credomatic Contenido
Memoria Anual 2016 Memoria Anual 2016 2 Memoria Anual 2016 | BAC|Credomatic Contenido Mensaje del Presidente 3 Historia 4 Resumen de las principales cifras 2016 6 BAC|Credomatic en un vistazo 8 Junta Directiva BAC International Bank, Inc. 10 Estructura de Gestión 11 Nuestra Organización en cifras 13 Entorno Económico y Sistema Bancario en Centroamérica 21 Crecimiento con innovación 31 Control Operativo 41 Control del Riesgo 45 Canales digitales 57 Compromiso organizacional y sostenibilidad 63 Memoria Anual 2016 | BAC|Credomatic 3 Mensaje del Presidente Estimados Clientes, Accionistas y Colaboradores: El Grupo siempre se ha caracterizado en ser pionero en el uso de la tecnología, este año hemos continuado con Somos un banco regional que opera con una presencia este proceso aprovechando las nuevas herramientas relevante en toda Centroamérica (incluyendo Panamá), para facilitar la vida de nuestros clientes, por ejemplo, lo cual nos da grandes ventajas en términos de diver- en nuestra Sucursal Electrónica ahora se pueden realizar sificación y escala, además de que nos permite ofrecer gran cantidad de gestiones sin tener que desplazarse a mejores herramientas a nuestros clientes que operan en nuestras sucursales físicas. Cada vez estamos más cerca esta región en la que creemos y apoyamos en su desa- de nuestros clientes que ya pueden realizar transaccio- rrollo. nes y gestiones a través de nuestras aplicaciones móvi- les siempre con los más altos estándares de seguridad. Facilitamos el intercambio de bienes y servicios y favore- cemos la canalización del crédito y el ahorro. Este 2017 se nos presenta como un año de cambios re- levantes para la organización, nuestras estructuras ad- Además de los ingresos que generamos, una porción im- ministrativas han variado sus liderazgos en Costa Rica, portante los pagamos a nuestros proveedores por bie- Guatemala y Panamá, bajo un proceso maduro y plani- nes y servicios. -
363 Part 238—Contracts With
Immigration and Naturalization Service, Justice § 238.3 (2) The country where the alien was mented on Form I±420. The contracts born; with transportation lines referred to in (3) The country where the alien has a section 238(c) of the Act shall be made residence; or by the Commissioner on behalf of the (4) Any country willing to accept the government and shall be documented alien. on Form I±426. The contracts with (c) Contiguous territory and adjacent transportation lines desiring their pas- islands. Any alien ordered excluded who sengers to be preinspected at places boarded an aircraft or vessel in foreign outside the United States shall be contiguous territory or in any adjacent made by the Commissioner on behalf of island shall be deported to such foreign the government and shall be docu- contiguous territory or adjacent island mented on Form I±425; except that con- if the alien is a native, citizen, subject, tracts for irregularly operated charter or national of such foreign contiguous flights may be entered into by the Ex- territory or adjacent island, or if the ecutive Associate Commissioner for alien has a residence in such foreign Operations or an Immigration Officer contiguous territory or adjacent is- designated by the Executive Associate land. Otherwise, the alien shall be de- Commissioner for Operations and hav- ported, in the first instance, to the ing jurisdiction over the location country in which is located the port at where the inspection will take place. which the alien embarked for such for- [57 FR 59907, Dec. 17, 1992] eign contiguous territory or adjacent island. -
Series Descriptions
[The records in this collection are arranged by theme and in some cases format. Themes were identified by analyzing folder titles. Topic modeling analysis of the folder titles in these themes confirmed that they logically reflect the data contained therein. Descriptions include information pertaining to: how the records were acquired by the company (i.e., natural accumulation, created by the company, targeted collection), subjects present, types of material, strengths and weaknesses, historical context, and cross references. When possible, terms from the Library of Congress Authorities Thesaurus and Art and Architecture Thesaurus were used. Not all series are described.] (I.) CORPORATE AND THIS SERIES CONSISTS OF RECORDS CREATED AND ACCUMULATED BY GENERAL EXECUTIVE LEVEL AND EXTRA-DIVISIONAL OFFICES, SUCH AS THE BOARD 1920-1994 OF DIRECTORS, AND RECORDS THAT ARE GENERAL IN SCOPE. (I.A.) Awards and Accolades This series consists of awards and accolades received by the company and its 1929-1983 officers from a variety of organizations. It includes certificates, commendatory letters, and correspondence (letters, memos, telexes, telegraphs, etc.). For photographs pertaining to this series, see “Photographs, Corporate and General”. (I.B.) Bankruptcy This series consists of records created and accumulated during the company's 1990-1994 bankruptcy, and includes records pertaining to the transfer of assets to Delta Airlines. (I.C.) ByLaws and Policies This series consists of corporate bylaws (by-laws) and policies and includes 1927-1987 correspondence (letters, memos, telexes, telegraphs, etc.), certificates of incorporation, and interlocking relationship agreements. See also "Records of the Executive Officers, Secretary" for early development of bylaws and policies; see "Divisions and Affiliates" for bylaws and policies pertaining to specific divisions and affiliates; and see “Personnel, Policies and Procedures” for 1 personnel policies. -
Bac Guatemala
CASE STUDY Bac Guatemala v.e.0221 CASE STUDY • CUSTOMER BAC • INDUSTRY GUATEMALA Banking BAC Credomatic is present in six countries: Panama, Costa • LOCATION Rica, Nicaragua, Honduras, El Salvador and Guatemala. With a Guatemala wide geographic presence, the group has also been able to • SOLUTION increase its client base. It currently serves more than 2.2 million Improving the banking customer people and more than 100,000 companies. In Guatemala it experience through queue occupies the first place in profits. management - www .acf t e chnolog i e s . c o m THE CHALLENGE BAC Credomatic is focused on moving forward with a digitalization pro- cess in order to respond more efficiently to the needs of its customers. The group has launched several processes in order to be more efficient, increa- se specialization, allow faster response times and maintain a leading posi- tion in technological advances with digital platforms that improve the user experience and offer greater security, as well as comfort. By May 2017, they were testing a demonstration pilot of Q-Flow in their offices to ensure that Q-Flow worked as expected. Then, in June 2017, when the bank acquired another 13 branches, they decided to start using a new business model to improve the customer experience: a self-mana- ged process that would give them a unique and differentiated experience for their clients, like no other. It is based on an innovative, modern, customer-centered design. THE SOLUTION In ten days, ACF Technologies was able to install a fully functional Q-Flow solution in the BAC Credomatic technology area. -
Corporate Presentation September 2019 Disclaimer
Corporate Presentation September 2019 Disclaimer Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) is an issuer of securities in Colombia and in the United States, registered with Colombia’s National Registry of Shares and Issuers (Registro Nacional de Valores y Emisores) and the United States Securities and Exchange Commission (“SEC”). As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. All of our banking subsidiaries (Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas), Porvenir and Corficolombiana, are subject to inspection and supervision as financial institutions by the Superintendency of Finance. Grupo Aval is now also subject to the inspection and supervision of the Superintendency of Finance as a result of Law 1870 of 2017, also known as Law of Financial Conglomerates, which came in effect on February 6, 2019. Grupo Aval, as the holding company of its financial conglomerate is responsible for the compliance with capital adequacy requirements, corporate governance standards, risk management and internal control and criteria for identifying, managing and revealing conflicts of interest, applicable to its financial conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Details of the calculations of non-GAAP measures such as ROAA and ROAE, among others, are explained when required in this report. Grupo Aval has adopted IFRS 16 retrospectively from January 1, 2019 but has not restated comparatives for the 2018 reporting period, as permitted under the specific transitional provisions in the standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recognized in the opening Condensed Consolidated Statement of Financial Position on January 1, 2019. -
Memoria Anual 2012
MEMORIA ANUAL 2012 MEMORIA ANUAL 2012 MEMORIA 2012 2 ÍNDICE IDENTIDAD INCAE ................................................................................................................... 5 MENSAJE DEL RECTOR .......................................................................................................... 7 AGENTES DE CAMBIO ............................................................................................................ 9 DESDE LA FACULTAD.............................................................................................................. 16 ALIANZAS ESTRATÉGICAS...................................................................................................... 19 SOCIOS CORPORATIVOS.......................................................................................................... 21 INCAE CON PRESENCIA GLOBAL............................................................................................ 25 NUESTRO IMPACTO ................................................................................................................ 28 INICIATIVAS TRASCENDENTALES........................................................................................... 30 RENDICIÓN DE CUENTAS........................................................................................................ 40 CUERPO DE GOBIERNO............................................................................................................ 55 CONTÁCTENOS........................................................................................................................ -
Financial Statements Of
BAC BAHAMAS BANK LIMITED Financial Statements Year ended December 31, 2019 Page Independent Auditors’ Report 1 - 2 Statement of Financial Position 3 Statement of Comprehensive Income 4 Statement of Changes in Equity 5 Statement of Cash Flows 6 Notes to Financial Statements 7 - 47 BAC BAHAMAS BANK LIMITED Statement of Comprehensive Income Year ended December 31, 2019, with corresponding figures for 2018 (Expressed in United States dollars) 2019 2018 Net interest income: Interest income calculated using the effective interest method on cash and cash equivalents (note 7) $ 2,694,218 2,870,986 Interest income calculated using the effective interest method on loans to customers (note 7) 119,562 173,354 Interest income on investments 374,250 0 Interest expense (note 7) (958,710) (796,871) Net interest income 2,229,320 2,247,469 Net commission income: Commission income 11,172 16,263 Commission expense (29,162) (18,945) Net commision expense (17,990) (2,682) Other operating (expense) income: Other income (note 7) 35,123 39,201 General and administrative expenses (notes 7 and 15) (699,668) (877,817) Reversal of impairment losses on loan (note 5) 25,328 20,434 (639,217) (818,182) Net income 1,572,113 1,426,605 Other comprehensive income: Net change in fair value of investments 7,389 0 Net income and total comprehensive income for the year $ 1,579,502 1,426,605 The accompanying notes are an integral part of these financial statements. 4 BAC BAHAMAS BANK LIMITED Statement of Changes in Equity Year ended December 31, 2019, with corresponding figures -
Costa Rica: Review of the Financial System
COSTA RICA: REVIEW OF THE FINANCIAL SYSTEM December 2020 1 This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of OECD member countries. 2 REVIEW OF COSTA RICA BY THE COMMITTEE ON FINANCIAL MARKETS This review of the financial system in Costa Rica was prepared by the OECD Committee on Financial Markets (CMF) as part of the process of Costa Rica’s accession to the OECD. The OECD Council decided to open accession discussions with Costa Rica on 9 April 2015. On 8 July 2015, the Council adopted a Roadmap for the Accession of Costa Rica to the OECD Convention [C(2015)93/FINAL] (hereafter “the Roadmap”) setting out the terms, conditions and process for accession. The Accession Roadmap provides that in order to allow the Council to take an informed decision, Costa Rica underwent in-depth reviews by the relevant OECD committees, including the Committee on Financial Markets (CMF), which provided the Council with a formal opinion. The CMF reviewed Costa Rica’s financial system, including its market and regulatory structure, to assess whether it is market-oriented and sufficiently open, efficient and sound, based on high standards of transparency, confidence and integrity. This review presents the results of that assessment and highlights the significant reforms undertaken by Costa Rica to further align its practices with these standards. This report was prepared by the Secretariat to support the examination of Costa Rica’s position, and was finalised on the basis of information available as of July 2020. -
Ita Survey of International
INTERNATIONAL TRADE ADMINISTRATION OFFICE OF TRAVEL AND TOURISM INDUSTRIES SURVEY OF INTERNATIONAL AIR TRAVELERS DATA TAPE DOCUMENTATION FOR 2009 Prepared by CIC Research, Inc. August 15, 2011 TABLE OF CONTENTS Page 1. General Introduction ................................................................................................... 1 2. Variable Names in Relationship to Questionnaire ...................................................... 2 3. Variable Names and Column Layout for ASCII Format .............................................. 9 4. Valid Ranges for Questionnaire Data ......................................................................... 15 5. Codebook with Question Numbers and Code Values ................................................ 23 ii TABLE OF FILES APPENDICES ON FILE A. APPEND_A.FIL - Airline Codes B. APPEND_B.FIL - Domestic Airport Codes C. APPEND_C.FIL - Foreign Airport Codes D. APPEND_D.FIL - Foreign City/Country Codes F. APPEND_F.FIL - Hotel Codes G. APPEND_G.FIL - Domestic Attraction Codes H. APPEND_H.FIL - Port of Entry Codes J. APPEND_J.FIL - Rental Car Codes M. APPEND_M.FIL - Language of Questionnaire Codes Q. APPEND_Q.FIL - Credit Card Companies iii DATA DOCUMENTATION FOR 2001 GENERAL INTRODUCTION Welcome to an explanation of the International Trade Administration, Office of Travel and Tourism Industries' (OTTI) Survey of International Air Travelers database that you have received in an electronic format. The documentation covered in this manual describes pertinent background information needed to use the OTTI database. Materials in this documentation refer to the 2009 version of the OTTI "In-Flight" Survey used by CIC Research, Inc. starting in January 2009. Specific information includes the following sections: a copy of the questionnaire with variable names the database column layout with variable names and size ranges for questionnaire data by variable name codebook In addition to the documentation included here on paper, much of the coding information is available in ASCII files.