Econoinvest always maintained high economic
Historically the company was to maintain high economic strategy to support growth and to make the institution less vulnerable the effects of financial crisis, banks and especially the volatility of financial assets in the last fifteen (15) years, which is why the policy of reinvestment of profits allowed not only sustained and balanced growth of the group but also adequate financial strength to handle high levels of liquidity and solvency.
Within the market system securities brokerage Econoinvest always been a leader in asset growth, which is why more than 70,000 investors gave us their trust through the years, sharing our vision of creating an institution to encourage savings and investment Country.
TABLE 1. HERITAGE GROWTH
, 2010 (*) ; 2009 2008
Patrimonio 355.005.869
136 194 293 269 518 063 (*) Figures Figures in Bs.F. April
shareholders reinvested profits every year as a way of demonstrating confidence in the country and the sustained development vision in the organization that created and consolidated.
The sustained soundness of our business over the past three years is also evident by the growth of earnings, as shown in the table below:
TABLE 2. DETAIL OF EVOLUTIONARY retained earnings (UND)
2008 2009 2010 (*)
U.N.D. 110.200.111
161 083 675 133 892 602 (*) Figures Figures in Bs.F.
April
As for the last Financial Statement dated April 30, 2010 filed with the Securities and Exchange Commission, which is attached below, it is important to make the following points: By April 30, 2010, the company maintained a relationship assets / equity of 2.64 and a ratio of Total liquid assets / total direct liabilities of 1.9, which, clearly denoted the solvency of the capacity to cope with the obligations of short and medium term, demonstrating once again its capital strength.
In essence the structure of assets Econoinvest was readily convertible into cash. Therefore liquidity levels Brokerage Econoinvest always been high, not only in the cash account, but in the structure of assets.
As a brokerage and do not have access to the money market, Econoinvest always had a policy of secondary reserves to maintain high liquidity in government securities, which is why during the removal of mutual ordered by the National Commission Securities as of 29/01/2010, to be executed within 90 days and in just two months, canceled a strong bolivars 3.258 million, made more than 780,000 accounting records checks issued 60,000 and 19,000 made bank transfers demonstrating at all times the liquidity, solvency, equity and managerial capacity of staff that worked at the institution, allowing the governing body meeting and their customers, efficiently and timely.
In terms of total leverage ratio direct financial liability / equity should be noted that it was 1.19 at the end of April 2010, still below the market average Venezuelan stock, proving to have a similar heritage to the level of liabilities, well above the Venezuelan financial institutions. The other non-financial assets, property and investment in technology and other, barely reached 22% of equity at time of surgery, which again demonstrates the company's solvency.
All these indicators show broadly, soundness and strength of the company, professionalism and high morale of all those working in it. With great business ethics Econoinvest Brokerage developed until the date of the intervention a successful business model, with respect to the rights of small investors and committed with economic development in the long run, convinced that "investing is growing, creating in Venezuela savings and investment securities, which are essential for growth of any state vision.
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