English - Bancos Desarrollo
Transcripción
English - Bancos Desarrollo
Annual Report 2008 A Different kind of Bank with Rural development always in mind and in its actions El amigo que te ayuda a crecer. The Value of Living with Values Flexibility Promoting and adapting me to changes is the only way to progress. Ethics I am the same when somebody is looking at me and when nobody sees me. I am like clear water that hides nothing. National Identity We are made of the same mixture of sky and mud, a little bit of lake mixed with grass, we are covered by the same air, coated of incienso and flower aromas and together we make just one Guatemala. 00 Solidarity Customer Service To give for been able to receive, to deliver for been able to ask, to help to deserve support. The human nature finds its balance in the harmony with others. My best reward is the satisfaction of being useful to others. That is why it is not enough to do things right, I always have to make them better. Prudence Social Responsibility Social Responsibility: I do not work just for myself, I work for my fellow human being and together we work for our Guatemala. Mistakes are as humans as life itself. The only way of avoiding them is thinking more than once all my decisions. Teamwork Respect I begin by respecting others, knowing that it is the only way to deserve respect. The path is not so long, if we walk together, the load is not so heavy if I help you to carry it. All of us are one, searching the same objective. Annual Report 2008 Enthusiasm Only enjoying what I make everyday, loving my job and valuing its importance, I find a meaning for my life. Trust I harvest right what I seed, for that reason I do until the impossible thing by planting good seeds. Originality The paths will always be the same; the way we walk through them is what makes us different. CONTENTS ANNUAL REPORT 2008 Mission and Vision 4 Board of Directors Banrural Financial Group Regional Managers and Businesses Coordinators Executive President Report 5 6 7 11 Report of Corporative Social Responsibility A Big Trademark at Service of the Guatemalan Society 13 14 14 15 15 Environment Technology Access to College Education: a Bet for the Future of Banrural Group Re-insertion of gang members into the Productive Society through education, incubation and access to micro-loans Healthy schools Education Donation of computers Corporative voluntary work FHA Housing Trusts International Foreign commerce Money remittances Loans Agriculture and Livestock Construction, Redesign or Extension of houses Consumption Local governments Corporative Banking and Second-Tier Banking Credit Card Technology Merchandising Loan Portfolio Portfolio Management Collection Operations Taxes Collection E- Banking Another´s Account Collections 16 16 16 17 19 22 22 23 23 23 24 24 24 25 25 25 26 26 26 26 Medical and Funeral Services Deposits Growth of the Branches Network 29 30 30 30 UDEVIPO (Unit of Popular Housing.) Service to Exporters and Importers Expansion of presence at Universidad de San Carlos with services to studends and personnel Working with our Community 31 31 Non-interrumption service, 24 hours a day, 365 days a year. Medical Services. Medical Services Results. Medical Care at Community level. Coverage of Medical Care Events. Margarita Tejeda Foundation and National League Against Cancer. Alliance with Grameen Bank and Microloans to Women. 31 32 32 32 33 33 34 34 Payments of Conditional Money Remittances Coverage of Towns Support to Local Governments RENAP (National Persons Registry.) 35 35 36 36 Financial Management Economical and Financial Indicators Banrural in figures Corporative Balance Comparative Earning Statements External Audit Opinion General Balance Sheet Earnings Statement Coverage Map 36 37 39 40 41 42 43 44 45 27 27 28 28 29 29 Annual Report 2008 0 OURMISSION MISSION OUR We are a Guatemalan bank oriented to the rural complete development of the country, with private and multi-sectors capital, with universal banking services and national coverage, directed preferably to the micro, little and medium businessmen, farmer and craftsman. VISION VISION To occupy in the country the position of leader bank in the financing of the development, through its branches of banking services offering a group of products that satisfy the needs of its clients with fair profitability, always taking care of the social responsibility 04 Annual Report 2008 Board of Directors of Banrural Stand from Left to Right: Miss Rutilia Roquel, Lic. Antonio Zelaya, Lic. Julio Recinos, Lic. Fernando Farfán, Lic. Rodolfo Orozco, Lic. César Tocón, Lic. Samuel de la Cruz, Lic. Edín Barrientos and Lic. Donaldo Mejía. Seated from Left to Right: Lic. Julio Contreras, Miss Felipa Xico, Lic. Benjamin Son, Lic. José Angel López, Ing. Fernando Peña, Licda. Carmen Rosa de León, Mr. Leonardo Delgado and Mr. Ulrich Gutner. Annual Report 2008 05 Banrural Financial Group Stand from left to right: Mr. Sergei Walter, Lic. Abner Fonseca, Lic. Gustavo Molina, Lic. Roberto Quevedo, Lic. Juan José de la Roca, Ing. Héctor Ramírez, Mr. Efrain Herrera and Lic. Samuel Colocho. Seated from left to right: Lic. Edgar Guzmán, Licda. Vilma Córdova, Ing. Maxd Florián, Licda. Verónica Landaverry, Ing. Fernando Peña, Lic. Samuel de la Cruz, Licda. Erika Vargas, Lic. Rudy Ovalle. 06 Annual Report 2008 Regional Managers and Businesses Coordinators Metropolitan Region Macro-Regional Manager María Antonieta Ardón Regional Managers Debora Pineda Patricia Nájera Sergio Tello Nery Portillo Luis Gómez Carlos Ruano Marco Tulio Barrientos Herick Hernández Wilson Escobar Tomás Saquic Businesses Coordinators Edwin Pinto Juan Luna Miguel Castellanos Jose Quiñonez Annual Report 2008 07 Regional Managers and Businesses Coordinators Central Region Macro-Regional Manager Hugo Duarte Regional Managers Oscar Alfaro Fernando Zavala Guillermo Soberanis Helfego Girón Oscar Acevedo Marco Lemus Businesses Coordinators Daniel Morales 08 Julio Suarez Mario Lastor Eddy Tojín Carlos Aguilar Annual Report 2008 Edgar Aleman Eleazar Leal Regional Managers and Businesses Coordinators North-East Region Macro-Regional Manager Melvin Ramos Regional Managers Roxana Carranza Félix Bran Miguel Medrano Mynor Winter Víctor Tayún Maynor Recinos Walter Gasparico Businesses Coordinators Telma Franco Felix Reyes Francisco Trinidad Persy Godoy Eliseo Hernández Julio Galvez Annual Report 2008 Marco Tulio Salazar Marvin Cardona Juan García José Mayen 09 Regional Managers and Businesses Coordinators South-West Region Macro-Regional Manager Alirio López Regional Managers Yenny Valiente Héctor Castellanos Marlon Montejo René Orozco Bony Camas Businesses Coordinators Juan Molina Rigoberto Díaz 10 Byron Dominguez Ottoniel Pappa Marvin Castillo Annual Report 2008 Abilio Bravo Hipolito Ordoñez Oliver López Report from the Executive President of Banrural "Human kind does not walks just for the strong push of the big men, but by the modest boosts of every responsible man that gave to everybody who, direct or indirectly, was there. And they needed him, even if they would not know..." Graham Green. The Value of living with values I have the pleasure to introduce our Annual Report, which represents the job of almost six thousand collaborators, who now more than ever in a though economical and upheaval context, are taking into real life our vision of development banking of Banrural Financial Group, they intensified their job, defining more ambitious projects, because they have realized that this crisis is a big opportunity for this friend to help and support, helping other Guatemalan who is waiting for his aid. We would say that 2008 has been a year for the financial group Banrural, the year for the big choice, contained in the observance of the worst financial and economical practices models, this methodology teaches us the accurate way of how to break nations and companies, that have run over complete families and their dreams, who even when they were doing the right thing, lost their life equity. It seems that Fellini words suddenly have sense when he says: "There are moments in which everything has to change, to be the same again." We began the year betting to uncertainty, in front of the economical and financial disaster that hit the world economics and with a more vague horizon than the one of the thirties, we did not hear the financial logic and the defeat forecasts to hear the voice from our heart and to plan the growth and objective for this new challenge. Today, pleasantly we have the reward of having exceeded the objectives and expectations that we have planned this year. We pleasantly inform that we grew 11.5% the number of agencies and 15.9% the client's portfolio, for which we adapted new technology that allowed us to mitigate risks, implementing very important decentralized processes that are translated into agility and consumer service, with parameters of prudence, which assure us to remain in time. We activate the participation of our Managerial team in quality committees, processes management and services, that allowed us to keep fresh products and services, proper for our customers needs and the special context in the global economy. Annual Report 2008 11 The credit technology continued with the segregation of functions in all the commercial units that, working with the inter-related autonomies and the operative and managerial units went forward successfully. Sometimes we had problems; we came across tiredness and boredom. Even though, we got lessons from defeats and we are nourished from victories; we have never lost faith and courage to continue working. The main competitive market decisions were taken in committees that worked in a decentralized way in the different regions of the country. These decisions were more appropriate and agile in the granting of answers oriented to our customers' needs. I am very sure of something, the fuel for dreams, has been the love for Guatemala. The ingredient that makes us to find time and energy, when running is as necessary as eating, the same ingredient that made us to be willing to work without schedule limits and with no distance. We wish 2009 to be the new opportunity to write in the preface of progress and development of Guatemala, Latin America and the world, where we can continue writing the future we want for the new generations, where everybody can give their best for the end of poverty and its consequences. In the just finished year, we knew the deep pride of reporting profits in our Grameen project, which with the Credits for Trust methodology (Yunus, Nobel Prize), we touched the life of 10 thousand 500 rural women with a portfolio of 8 millions credits granted. Step by step we were attracted by others dreams, conquering the path. Everything was a symphony of spontaneous notes that built the melody called Banrural, the development business. Just like the bases of a construction, we built our minds everyday; with strength and energy to learn more about dedication, honest work, dignity, respect and the joy that have all the big changes generated by little actions and among all the learning's we forgot to write on the training plan, but they finally were the biggest and most valuable lessons of this ended year. 12 In the meantime, Banrural as a little piece of this giant gear will continue working and generating little achievements that get us closer to a future with new and best opportunities of life. Annual Report 2008 Fernando Peña Executive President of Banrural Financial Group Report of Corporative Social Corporative We include the Corporative Social Responsibility as a strategic element in our management, with a double objective: To cover all the commitments the Group has with interest sectors that is related to, and to strengthen our mission of Development Bank. Our commitment as a responsable company to Guatemalan society begins with the work oriented at making from the Banrural Financial Group, a company well-managed, efficient, that gets fair profitability, which allows the creation of quality jobs, satisfaction for our clients expectations, profits to our shareholders and the taxes payment that contributes to Guatemala development. The role of Corporative Social Responsibility is not just to reach all Guatemalans with financial quality services, but to support the growth and development of our community. Annual Report 2008 13 A Big Trademark at service of the Guatemalan Society Banrural is the Financial Group (Bank, Insurer, Financial Company and Credit Card) with the best coverage and presence in all the country. Our corporative culture is based upon values, such as ethics, innovation and leadership, all united by the soundness of our big trademark. The preference from our clients makes us to keep our vision of Development Bank with efficiency and to continue creating value for our shareholders, always taking the responsibility of making Guatemala a better country. During 2008, we focused our strategy of SOCIAL RESPONSIBILITY in several aspects, such as: We work together with the community, in the same way we work with our clients, because naturally, every client belongs to a community. The relationships we build when serving our clients, many times, give us the opportunity to help their community. Before deciding where to invest, we take into account first the persons who know it much better: the ones that live and work there, our team members. Listening carefully, asking the right questions and making the right connections, they discover where we can make an important difference. When we work together, we can make our community a better place to live and work. This is good for our clients. Good for our team members. Good for our community. Our Environment The environmental conservation and improvement is a consistent concern to Banrural Financial Group. We planned that the construction of our branches were a model in environmental concept, always taking care that our designs, materials and architectural development were in harmony with the commercial activity a n d e c o l o g i c a l f a c t o r s i n e v e r y c o m m u n i t y. 14 Annual Report 2008 Technology The Banrural Model has in technology one of its best strengths, which is a very important factor for our financial management, for the quality improvement and the growth of our business, besides the fulfillment of our commitments in RSC because it allows us important improvements in the relationship systems with our interest groups. Besides that, our Model optimizes the relationship with our suppliers and makes more clear and quick the participation for our shareholders. Access to College: A bet for the future of Banrural Financial Group This access to college represents an important effort on which Banrural Group has trusted in, with investments of social responsibility. As part of our program of Corporative Social Responsibility, we created the program Banrural-University, which is the biggest agreement at national scale between a private company and the superior education; during 2008 the program finished with 146 College Technicians in Banking and Businesses and more than 800 potential professionals with academic degree of Licenciatura for 2009. We believe that education is the key of sustained development of a country, because educating the citizens we work with, we improve their life conditions, while improving also, our services quality. In 2007-2008, seventy five percent of our collaborators have participated in our formation program and we have invested 1.3% of salaries; we are making our training center a base for increasing our intellectual capital. Annual Report 2008 15 Re-insertion of former gang members into productive society through education, incubation and access to micro-loan Banrural is aware of the commitment as a development bank and, as a company worried about the millennium goals to eradicate poverty, decided to address its efforts to serve a group of 114 young gang members to reinsert them into the productive society with a pilot project, which began at San Juan Sacatepéquez, managed through our CRECE Foundation (in formation), it first began getting closer to the community with an offer of psycologycal attention, alphabetization and then, training with the support of INTECAP; this program has been productive , because we found jobs for former gang members, who having an attitude committed and a more consistent one with the values and principles we are strenghtening, during most of the time since we began our program, they have the right to applicate for jobs in friendly companies that have opened their doors in the areas of bakery, carpentry and computers repairs technicians. For next year, we hope to have an office for the Foundation, where we can begin our silkscreen printing workshop, where 80 former gang members will be reinserted into society; this workshop will supply Banrural Group with supplies regarding this job. 16 Healthy Schools The actions of solidarity make silences, sights, pauses, images, feelings that exceed the descriptive word and in that, there is always a delicious game with the magic that makes us feel really lucky for the privilege of giving and to witness how we can increase in others, the opportunities and dignity. Also, we support the education through the program "Healthy Schools", granting a percentage from our budget of social responsibility, for the improvement of schools at the rural area, which is divided in financing for: Drinking water. Classrooms construction. Donation of desks. Toilets. Drainages and septic tanks. Floors and classrooms concrete. Education: A bet to the future The social role is not just to reach all Guatemalans with quality financial services, but repaying to community and to support its development from any initiative. For that, we made several activities: Annual Report 2008 Computers donation. Commitments with the community. Voluntary work. Computers Donation As a part of the social commitment in supporting education and culture, Banrural Financial Group is developing since two years ago, a systematic program for giving computers to different social help institutions and public schools. Commitment with the community: Savings and consciousness of rational use of energy and nonrenewable products: a commitment for all Guatemalans So far, Banrural Financial Group has distributed through this program more than 300 computers. Almost 80% of these computers, have been delivered to the Foundation Misionera Somascas; a prívate non-profit foundation, which is dependent on donations to support more than 500 orphans and abandoned children from 0 to 18 years old, whom it provides a home, food, dress, health and education; and Banrural has found in it, very similar objectives aimed to give Guatemalans new and best life opportunities. Commitments with Community: Savings and consciousness of rational use of energy and non-renewable products, a commitment for all Guatemalans. Doing so, Banrural Financial Group collaborates with the objective of the Foundation of the missionaries Daughters of San Jerónimo Emiliani, which is to decrease the digital gap in the country, giving to the poverty sectors, the possibility to access new information and communication technologies. During 2008 we made this work and several activities, among them, the delivering of computers in Zaragoza, Chimaltenango, helping with the digital alphabetization, through technological solutions for education and social enterprising, that give access opportunities and use of information technologies and communication to sectors that through other way, could not reach them. Banrural Financial Group has been a pioneer institution that began a campaign and took into practice several actions of responsible consumption. To be aware of the commitment is to listen to this entire crowd that invites us to discover coexistence much more respectful and in harmony with the planet; all this makes us responsible of taking actions. At Banrural we know that this is the time to choose because we do not want tomorrow to be an accident, but a part of civilized a proper actions today. ¡Let´s live the wonderful tickles of feeling! The treasure of being more than ever, fragile human beings! Let´s smile but with the eyes of soul. Hope is not what we lose at last, but the strength that opens the doors of the dreams to come true! Let´s have the wish to be better, the same wish that moves us not to feel fear to challenge; let´s remember that only the true wish defeats fear. Annual Report 2008 17 We think that if we can dream it, it is possible!. Chance is as big as our will. We know Guatemalans are not people who see things as they are and tell the reason why; we see things that still do not exist and ask ourselves why not? 18 This year, efforts were complemented with the construction of prototype branches, based on the main principles of energetic efficiency, which will be new models to be copied in the best saving practices within and outside Banrural Group. We are becoming ourselves into the strength of Guatemala, men and women building a nation day after day, based on development. As a little light of sunshine that can and must reach everybody. We live for today and tomorrow; this is our tender goodbye for an ending cycle. We know well that from January 2009 we will come back to the never-ending "see you later" with new challenges, new opportunities and as civilized being, we learned from experience and from the memory who grew without magnificence, we will manage with wisdom the future. We will not forget that we cannot buy fate; it is built with effort, honesty, God and common sense. Implemented Actions: We are pretty sure that the most incredible part about miracles is to believe in them and Banrural during its 11 years of life, has the annual file in this work memories of thousand of miracles of development and we only will thank for being a bridge and making ours the phrase of the British novelist Graham Greene, "human kind does not walks just for the strong push of the big men, but by the modest boosts of every responsible man that gave to everybody who, direct or indirectly, was there. And they needed him, even if they would not know." Re-programming of air-conditioning in the hours that it is needed most (between 8:00 and 17:00 hours). The initiatives that Banrural has implemented have become into the increase of energy savings, product of the group effort and specific actions, such as: Switchers to turn off the electrical signal (except the ones essential for security reasons) and illuminated facades in more than 500 branches. Decrease of schedule of elevators in low transit hours. Construction of spaces that take advantage of natural light. Changes of more than 400 incandescent lamps for fluorescent (high-efficiency lamps). Annual Report 2008 Technological renovation in all the equipment of energy distribution in Banrural Tower. Encouragement of turning off all the equipments that are not useful (photocopiers, printers and faxes). Promotion of efficient use of electrical energy and water through an internal campaign with savings posters common areas and electricity switchers. This activity is just a part of the historical commitment that Banrural has within its social role: That during more than 10 years has focused its corporative mission in the opening of access paths to financial services for all Guatemalans and from this year on, we serve in Maya language, promoting from the traditional family saving with the piggybank "Mingo" for children, to the shared dream of the intelligent money remittances, aimed for children studies, productive housing and so many other genuine desires that are at heart of all Guatemalan families. That is why, during 2006-2007 and 2008, Banrural joined to this initiative many other collaborators, who made teamworks willing to recollect toys and food and deliver them in a very personal way in homes and communities that are choosed by themselves and doing so, they enjoy this initiative. At Christimas 2008 we visited with toys and dinner: Orphanage San Jerónimo Emiliani Nursery for poor children of Priest González Pedraz The different communities of San Juan Sacatepéquez The oncological pediatric of Hospital San Juan de Dios Corporative Volunteer Work Christmas Campaign When Christmas, every year we promote iniciatives that allow us to share the highest human being values, such as solidarity. Annual Report 2008 19 El Petén and the nearest towns Zacapa and its towns Towns in Chiquimula Help in Natural Disasters The hurricans season which is from June to November in the Latin America region and the Caribbean has been especially destructive in 2008 for Guatemala. Several hurricanes, storms and tropical depressions, among them Fay, Gustav, Hanna, Ike and Paloma have damaged several countries in the region, among them Guatemala has been one of the most affected and the country is still suffering these consecquences. The country has been affected by at least 16 tropical depressions and just, during the last one of them, 180,000 persons were affected. The most affected towns are the poorest of the country. During the year the branches of Banrural make in an independent way, activities of helping homes, towns, villages and communities that need social help because of natural disasters, through which making help groups, the collaborators of Banrural have transported food, clothes and persons and in a very efficient way, health and medical aid teams, serving the communities with medical assistance and medicines, through our program "Salud a su Alcance." The communities that during 2008 were benefitted with this initiative are: 20 Support for the Food Bank of Iglesia Casa de Dios During 2008 we began the program to support the Food Bank of Iglesia Casa de Dios through which Banrural makes a determined discount from payroll to the collaborators interested in helping the program, and doing so, they help with the purchase of food that are recollected during a special Sunday in the church facilities to be distributed then, to several institutions. Annual Report 2008 Opportunity for everybody, program of social inclusion At Banrural we believe that all Guatemalans have the legitímate right to access to a decent life and because we know work is the seed of human dignity, since its birth, Banrural has hired persons regardless their gender and from all mayas races; but we wanted to expand the inclusion, so that is why we hired persons with different capacities, such as: Down syndrome Deafness Decrease of mental capacity or border intelligence Elderly Proudly, we can report that 50% of our porters are persons considered elder, who work responsibly and thanks to that chance, have coverage of Social Welfare and are economically independent; and also it has been equally satisfactory the experience with persons with different capacities, who have shown enthusiasm and responsibility doing their job and at their departments they have added a nice environment of solidarity and that is why we can say: All of us have won!!! Annual Report 2008 21 YEAR FHA Housing 2003 2004 2005 2006 2007 2008 At Banrural popular housing is a priority area, especially outside the capital city. This is because there is a big housing deficit and the limited offer at urban and rural areas in other parts of the country. To achieve this, we have created and streghtened our internal structure of housing loan and we have, also, created a strong Alliance with the Instituto de Fomento de Hipotecas Aseguradas* (FHA in Spanish); this system has demonstrated a big potential as a base for a construction boom outside the metropolitan area and being an adequate vehicule to channel investments. As a product of these efforts, during 2008 we deserved the Tikal de Oro Award, which is granted by the FHA, for reaching the biggest growth in assured ammount. Also, two of three finalists and the winner of the Avant-Garde of the Year are housing promoters supported and financed by Banrural. It is important to mention that the winner project is outside the Department of Guatemala. During the year 2008, we served 1,087 cases for 353.6 millions of quetzales in FHA portfolio. 46 344 449 703 2,265 3,251 BALANCE IN MILLIONS OF Q. 9.0 44.9 77.3 141.4 479.8 785.4 Trusts Banrural has always been a very dynamic and active bank at the trusts area, in which we are known as leaders. This year we aggregate 7 new trusts to make a total of 63. In the credit trusts we granted during the year 73,556 loans, from which 85.24% are for ammounts up to Q.5 thousand and an additional 8.38% up to Q.20 thousand. The most important amounts are: Amounts in Millions of Quetzales AMOUNT AMOUNT DIFFERENCES 2008 2007 263.7 Authorized Capital 3,741.5 4,005.2 279.7 New contributions 2008 2,954.2 3,233.9 18.3 Other Contributions 2008 113.9 132.2 199.3 Paid Capital 1,909.9 2,109.2 12.4 Temporary Investments 901.7 914.1 CONCEPT *Insured Mortgages Institute. 22 CASES Annual Report 2008 BALANCE OF LOANS DIVIDED BY USE WITH TRUSTS FUNDS On the contrary of what is happening at the financial international markets, the trust of foreign correspondents had a growth in loan lines of USD90.3 millions. Additionally, the Government of the United States gave us a loan line for USD60 millions for the program of Credit Commodity Corporation; this is the biggest line of that kind granted for Guatemala. Amounts in Millions of Quetzales DESCRIPTION 2007 Consumption, Transfers and other uses. Agriculture, Livestock, Forestry, Hunting and Fishing. Mining and open-cut mining. Manufacturers industries, foodstuffs and beverages. Electricity, gas and water. Construction. Commerce. Transportation and storage. Financial Commerces, real estate and profesional services. Community, social and personal services. 2008 963.6 1,133.1 348.7 365.2 0.8 0.8 24.3 22.5 16.0 102.8 60.8 15.2 95.8 55.7 2.0 1.4 27.1 35.4 0.8 Foreign Exchange Desk Thanks to the trust from our clients, in foreign exchange trading, we negotiated USD2,679 millions, that represent a growth of 29.4% compared to the previous year, serving the different economical sectors of the country, with the best exchanges rates. Money Remittances The Money remittances continue being an important base for the Guatemalan economy, and in this area Banrural has been the leader in remittances payment because of its big branches network at national level and strategic alliances with money remittances companies, which has allow us to have a market share of 51.8% and a growth compared to the previous year of 19.89%. 0.8 INTERNATIONAL Foreign Commerce During 2008 the bank has grown up in foreign commerce operations, which is a complement of the productive loan activity, which is our main businesses field. We grew 185.7% in operations of credit letters and 56.27% in financing operations. Another aspect to highlight is the acceptance and grown that we have had in remittances with credit into accounts, which is 48.23%compared to 2007; this gives us an indicator of the loyalty from our clients toward our institution. Annual Report 2008 23 Loans Continuing with a healthy politics of improvement and constant updating, this year we reinforced the Loans Committee for the previous analysis of the records for approval of the Board of Directors, which is formed by Internal Audit, Legal Consultancy, Loans Department and three (3) members of the Board of Directors. Also, we emphasize the area of field analysis, in charged of making evaluation visits to important clients at national level according to stablished regions. It is important to mention that the analysis and approval of corporative processes were modified to facilitate their decentralization and make that this kind of loan reaches directly our clients in their investment area, breaking paradigms of service and attention, taking the bank to the client. Agriculture and Livestock Loans to agriculture are made with emphasis in the vegetables worked by little and medium farmers; regarding livestock we emphasize the breeding, fattening up and production of milk. In these two sectors, we serve 10,959 loans with Q.455 millions. Construction, Redesign or Extension of Houses The need to have a decent house is felt terribly at the interior of the country, that is why there is a strong demand of economical resources to build houses, redesign them and extends them, so during 2008 we served 11,881 loans with Q.567 millions. 24 Annual Report 2008 Consumption We have client's requirements to satisfy personal needs such as medical expenses, purchase of vehicles, furniture, debts consolidation, etc. During 2008 we granted in this area 20,475 loans with Q.421 millions. mini-vegetables producers, ornamentals, grains, etc.), the construction and development of housing projects (through bridge loans), health sector (financing the buy of assets, pharmacies, hospitals and laboratories), the loans for the industrial sector continue its development to the textile, lithography and drinks. Also, we served important sectors, such as the Gremio Magisterial that had 16,562 loans with Q.611 millions. All previously described, is shown as follows: Local Governments The need of making projects of social benefit by the Local Governments (gobiernos municipales) allowed us to grant 139 loans for Q.827.0 millions, from which, during 2008 we granted 84 loans for Q.428 millions. This financing is for drinking water projects, the construction of roads and streets improvement; drainages and markets construction, etc. CORPORATIVE CREDITS IN US$ - YEAR 2008 GRANTED AMOUNTS 28,886,367.92 100 Total of Portfolio Loans Balance 160,147,679.06 515 CORPORATIVE AND SECOND TIER CREDITS IN QUETZALES - YEAR 2008 GRANTED AMOUNTS 788,375,980.82 Corporative Banking and Second-Tier Banking The participation of Banrural at the market of corporative banking has been consolidated during 2008. Among the specific activities made during this year, we can mention the import of consumption and productive products (electrical household appliances, technology, machinery and equipment, etc.), agricultural industry (sugar, oils, forest, etc.), agricultural and livestock (exporters and New Loans New Loans Portfolio Balance Total of Loans 295 2,231,433,172.54 876 During 2007 the total corporative portfolio up to December (US$, Q. and Second Tier) was Q.2,971 millions (serving 1,162 loans) and up to December 2008 the portfolio balance is Q.3,461 millions (serving 1,391 loans), showing a percentage growth of 16%, compared to 2007 balances and 20% related to the number of operations. Annual Report 2008 25 Through the second-tier banking program, during 2008, the portfolio with banking resources showed an increase of 18%, with a balance of Q.47 millions, increasing the financing through the sub-loans, supporting several activities such as commerce, agricultural production, livestock and crafts. Credit Card Technology In July 2008, we finished the process of migration to a new platform of control and management for the Credit Card, which makes us being in a better position of service and competence. Marketing In November we launched the points Exchange program that the Loyalty Program "The Crop" was accumulating during all year 2008. It can be money exchanges that are credited to the credit card (cashback type). The exchanged products are delivered to the client´s door and we have exchange points in all the country through our branches network. Portfolio During the last three years we have strongly increased our cards base, going from 3 thousand to 78 thousand, which has generated a portfolio that today is Q.338 millions. 26 Annual Report 2008 Volume of Credit Card Portfolio In Millions of Quetzales Everything described before, allows us to be in default levels under the industry averages, as we can see in the lateness behavior of the loans portfolio during 2008. 2008 2007 Percentage of Total Portfolio Lateness 2006 2005 1.20% 0 50 100 150 200 250 300 350 Portfolio Management 1.02% 1.00% 0.84% 1.05% 1.03% 1.00% 1.03% 1.02% 1.06% 1.12% 1.11% 0.97% 0.86% 0.80% 0.60% During 2008 we managed 421 thousand loans to benefit 5.5 millions of Guatemalans, with an amount of Q.15,259.8 millions. Their uses cover widely all the spectrum of economical classification. 0.40% 0.20% 0.00% January February March April May June July August September October November December Collections The main emphasis during the year was the processes modification and the automation to increase the control on the collection centralized and decentralized processes that allow us to be prepared before anypossibility around the environment. Annual Report 2008 27 Operations ATM, POS PURCHASES Debit Card 310 The debit card has become a technological element of essential convenience and service for our clients, especially outside the metropolitan area. During this year our cardholders grew in 35%, operations in 38%, the operations amount in 46% and the Banrural ATM´s in 16%. 300 290 280 270 260 250 240 230 2008 2007 Card holders Tax Collection 900,000 800,000 700,000 We continue being the bank that serves clients who do not use internet to pay taxes, that is why we made 2.97 millions of taxes collection operations (39% increase), that represent Q.3,065 millions. 600,000 500,000 400,000 300,000 200,000 100,000 0 2007 Tax Collection 2008 Operations with Debit Card In Millions of Quetzales 3,100 In Millions of Quetzales 5,000 3,000 4,500 2,900 4,000 3,500 2,800 3,000 2,500 2,000 1,500 2,700 ATM, POS PURCHASES 2,600 2,500 1,000 500 2,400 0 2007 28 ATM´s 2007 2008 Annual Report 2008 2008 E-Banking Another´s Account Collections In Millions of Quetzales 10,000 With the increase of communications and the easy internet access, our clients in the E-Banking grow and grow. This year the number of clients was increased in 30% and the Banca SAT users in 18%. 9,000 8,000 7,000 6,000 5,000 E-Banking 4,000 3,000 60,000 2,000 50,000 1,000 0 40,000 2007 2008 30,000 Medical and Funeral Services 20,000 10,000 From the big success of the medical and funeral services we created to serve our clients, we decided to market them, with good results. This year we increased the medical services selling in 50% and funeral services in 34%. Funeral and Medical Services 0 2007 Clients 2008 Banca SAT users Another's Account Collections 45,000 40,000 35,000 This year we have an important increase of 70% in the operations amount in another´s account collections, from a deeper analysis of the collection services by our group of clients, taking advantage from our infrastructure and economy of scale. 30,000 25,000 Funeral 15,000 10,000 5,000 0 Annual Report 2008 Medical 20,000 2007 2008 29 Deposits strategically in 28 points of service at the capital city; this growth allowed us to reach a total number of Branches of 582. These network confirms Banrural leadership withing the national banking systems as the bank with the best national coverage. Our clients trust is showed mainly in the constitution of deposits of any kind that means that they give us their money to take care of it. During 2008 we grew betwen 14% and 30% the number of deposit accounts (depending on the type of deposit) and between 10% and 29% in the deposit amounts, to make a general total of 22% and 23%, respectively. Non-Interrupted Service, 24 hours during 365 days a Year Monetary Portfolio, Saving and FT In Millions of Quetzales 1,600 1,400 1,200 1,000 800 2007 600 2008 400 Banrural supported the Judiciary in its project to serve Guatemalan citizens in special courts permanently in shift, located in Mixco and Escuintla. In our branches located within the courts, we receive the payment of judicial deposits that are derived from cases that took place at any hour of the day or night; this allows persons to resolve their legal situation immediately. This service allows us to say that we are the only bank in Guatemala that opens 24 hours/365 days a year. 200 0 Monetary Savings Fixed Term Growth of the Branches Network Banrural had a growth with no precedents in the Guatemalan banking system because we opened 88 new Branches, giving coverage in formal banking services to 59 communities at the interior of the country, and being 30 Also, this year we won the Public Bidding to grant financial services to the Dirección General de Aeronáutica Civil, specially at La Aurora Airport, which allows us to serve the airport services in non-interrupted schedule of 24 hours during the 365 days a year. This bidding also includes services at the Mundo Maya Airport in Santa Elena Petén and in the rest of airports where Aeronática Civil is in control and has the management. Annual Report 2008 UDEVIPO The Unidad de Vivienda Popular that among its functions, has the management of the housing portfolio related to the programs of exBanvi, hired Banrural services to take advantage from the use of the biggest network of banking branches in the country, this decision now benefits more than 17,000 users, who before that, they had to make their loan payments at the capital city and who today, can use 582 branches spreaded through the country. Services to Exporters and Importers Besides we are the only bank with presence in all customs in the country, we began the e-collection of the services that Portuaria Puerto Quetzal grants to users and we aggregate, in an exclusive way in the website of e-Banking, the service of e-payments for shipping companies; with that action, they can, from their offices and saving time and resources, pay and access to their information in an immediate way. This service is being implemented at the Portuaria Santo Tomás de Castilla . Extending the presence at Universidad de San Carlos, granting services to students and management personnel Banrural and the Universidad de San Carlos agreed the expansion of the services and that is why we opened a new branch at Ciudad Universitaria to grant the service to these university students and we began the online payments in our e-Banking. We help in the issuing of the ID card for the first admission students. Annual Report 2008 31 Working with our Community Since its creation, Banrural has had the vocation of being close to our communities. ¡Every client belongs to a community and so do we! That is why many of our products and activities are specially aimed at covering important needs for the economical and community life of all Guatemalans. This is a little summary of the main areas we serve in our community: Medical Services The access to high quality medical services is tough to get for Guatemalans, specially out the metropolitan area. For the micro-businessman is specially difficult because he depends on his daily job, and an health emergency can cause an important unbalance. So, Banrural and our EPSS allies have created a network with 1,185 physicians throughout the Republic, that provides preventive medical services (medical consulting) to our clients and their families. This service covers the medical consulting, in an unlimited way, with the pediatrician, the Gynecologist and the general physician. Besides that, it makes important discounts in the diagnosis procedures. It is important to emphasize that in the family health life, woman puts herself at the end of the line. She prefers to give priority to her children and husband, so she remains totally unprotected. The best part of this service is that it has allowed women to have access without decreasing their family protection. It has generated an important increase in women visits (who maybe have never gone to visit the gynecologist) and, of course, an important increase in the prevention of illnesses, such as women cancers. Results of the Medical Services YEAR Number of Members 2006 148,835 2007 204,880 2008 285,584 32 Annual Report 2008 Women Visits Children Visits Men Visits Medical Advisory by phone Total of Visits 62,595 87,633 126,551 44,858 61,007 89,426 24,865 36,055 51,149 6,354 9,213 12,517 138,672 193,908 279,643 Coverage of Medical Care Events -Consultings- In some cases, this service is complemented with diagnosis procedures, we granted 27,609 of them. It is important to mention that 809 families were benefitted with funeral services related to this service. 279,643 Medical Consultings 27,609 Diagnosis Procedures 809 Funeral Services Alta Verapaz Sololá Baja Verapaz Quetzaltenango El Petén Huehuetenango Izabal El Quiché Chiquimula Jutiapa Jalapa Suchitepéquez-Retalhuleu Guatemala (no Ciudad Capital) Totonicapán Sacatepéquez Zacapa 454 3,168 Medical care at community level 1,210 2,790 The bank keeps a permanent program of medical care events, which are aimed at the population of communities in general and that mainly are made at little town's level. In those events we provide with ophthalmologist and dental services, besides other services of preventive and diagnosis medicine. 12,728 8,140 During the year we have done 195 medical care events in which we served 56,929 medical consulting. 3,488 2,618 4,890 1,536 2,073 1,116 2,899 4,739 3,998 1,082 Guatemala (Not the Capital City) Annual Report 2008 33 Margarita Tejada Foundation and Liga Nacional Contra el Cáncer The Bank, worried about health problems of wide extent, has stablished alliances with organizations that fights against the affecting directly our communities. Among them, the Margarita Tejada Foundation, which is dedicated to work with children and young people who suffer Down´s syndrome. We began supporting activities of fundraising and are working in the design of products that generate a voluntary donation from our clients to their sustenance. Additionally, we have an employment program with young people with this and other sufferings. Because of the educational deficiencies in a big part of our rural population, cancer has become a catastrophe, especially among women, because they do not visit physicians regularly. Because of that, we have stablished an Alliance with the Liga Nacional Contra el Cancer, to generate educational and preventive campaigns, besides the financing for treatments. Alliance with Grameen Bank and Microloan for Women With the objective of achieve a better extent of microcredit and to serve segments in extreme poverty, specifically women, we have signed an agreement in December 2007 between Banrural and Dr. Muhammad Yunus, Nobel Peace Prize 2006 and his Grammen Bank. Through this agreement we have united the strengths of both institutions and we have been working in a very successful program limited to eight rural towns, previous to its generalization throughout the Republic. The program is oriented to the organization of women and their motivation to begin productive activities, making them subject of credit and being their company during the process. 34 Annual Report 2008 10,500 women users of loan with an investment of Q.8 millions Payment of Conditioned Money Remittances Coverage of Counties One of the most important activities in the fight against extreme poverty by the Government of Guatemala is the Program "Mi Familia Progresa."* Through this program, the Government has distributed assignations of cash money to poor and very poor families in exchange of their children attendance to schools and medical visits. Priority has been given to towns with the highest level of extreme poverty. This program has been enthusiastically supported by Banrural because we have the coverage and the resources to make it true. Our personnel is in charge of making the payments. Conditioned Money Remittances Total paid amount Events Delivered Payments Paid Beneficiaries Covered rural towns Consistent with the objective of covering all our country with the net of branches, Banrural has reached a 70% of counties covered with, at least, one office. It is important to highlight the opening of branches in little towns, because we are even closer to our clients, specially the most unprotected. Counties with Branches Alta Verapaz Escuintla Retalhuleu Baja Verapaz Guatemala Sacatepéquez Chimaltenango Huehuetenango San Marcos Chiquimula Izabal Santa Rosa El Petén Jalapa Sololá El Progreso Jutiapa Suchitepéquez El Quiché Quetzaltenango Totonicapán Q.91,724,550.00 119 300,618 249,397 91 Zacapa 6 10 3 16 7 13 14 11 9 16 10 6 9 17 5 *"My Family Progresses." 9 15 12 10 7 Annual Report 2008 5 22 35 Financial Management Support to Local Governments For most local governments in Guatemala, Banrural has been a strategic banking allied that supports its financial management in many cases, through a branch within the facilities of the city halls (including the City Hall of Guatemala City). This service adds value of control and transparency in the resources management that citizens give to every county. Besides that, we are the bank that grants financing for the local governments works to be finished on time. RENAP Banrural, with a very successful management of financial intermediation, has reached the first places at national banking system that allows it at the same time, to get profitability that makes it the first place within the most important Banks in the Guatemalan Banking System. Additionally, the obtained results have been favoured by a diversity of businesses and strategic alliances with very recognized companies at national and international level. Structure of the Gathering of Deposits Taking advantage of the distribution of our banking branches, both at the capital city and the interior of the country, we have put them to work with RENAP (Registro Nacional de Personas)* , so every payment for services such as the issue of birth and death certificates, birth registrations and in the future, the payment for the DPI (Documento Personal de Identificación) can be made in our more than 2,500 counters. With this service, Banrural confirms that it is the adequate banking support for people from all Guatemalan communities. The trust Guatemalans have given us, is demonstrated. The deposits increased during 2008 in the amount of Q.3,475.4 millions whichis the 20.95%; besides that the number of accounts was increased in 424,186 that is 23.50% Thanks to the trust from our clients, Banrural was the Bank that grew the most regarding to the total of gathering of deposits in the system, what commits ourselves to continue supporting, through the loan granting, the poorest communities and at fair prices. *National Persons Registry. 36 Annual Report 2008 Structure of the Gathering of Deposits during 2008 Number of Accounts Monetary Savings At Term Mortgage Bonds Total Average (Q.) 783,833 1,417,619 27,881 61 2,229,394 11,776.40 3,859.43 172,561.52 7,397,950.82 7,586,148.17 8,955.08 Total Average Economical and Financial Indicators Regarding the most important financial indicators, such as the Return on Assets and Return on Investment, Banrural is at first place, compared against the most important Banks of the Guatemalan banking system; besides that, in the return on investment for the shareholders, without forgetting its equity soundness, allowing with it, the possibility of continue growing in a consistent way. Financial Indicators 2007 ROE 2008 29.97% 28.02% ROA 2.95% 2.99% Lateness rate 0.87% 0.97% 5,374 5,686 495 582 Other Indicators Number of Collaborators Number of Branches Annual Report 2008 37 Distribution of Deposits Within the distribution of accounts at Banrural, we can see that 87%, that represents to 1,943,119 accounts, is related to clients whose maximum amount is Q.5,000.00, which represents a high volumen of attention to deposits clients and represents also, a low risk of volatility. Deposits by Amount In Quetzales 4% 2% 1% 1% 1% 1% 1% 1% 1% 0% 5,000 10,000 15,000 20,000 25,000 30,000 40,000 50,000 100,000 500,000 500,000 87% 38 Annual Report 2008 Banrural in Amounts DESCRIPTION Year 2004 Year 2005 Year 2006 Year 2007 495 Year 2008 582 413 305 323 Number of Branches 163,936 408,900 421,492 113,116 141,768 Number of Loans 4,349,876 4,795,419 5,558,282 3,916,440 Clients in Portfolio 2,280.820 1.19% 0.87% 0.97% 2.18% 1.34% Lateness Portfolio 1,700,399 1,805,208 2,229,394 977,528 1,178,989 Deposits (No. of Accounts) Amounts in Thousands of Quetzales (Q.) Total Assets 7,911,291.5 10,406,744.0 17,014,853.3 19,657,808.4 24,477,467.9 7,448,029.4 9,696,471.3 15,932,714.5 17,559,606.5 21,696,561.3 Liabilities 949,396.9 1,936,273.2 2,613,469.9 618,923.8 388,867.1 Net Equity 465,025.9 690,111.6 866,482.7 157,921.6 276,624.0 Profit Before Taxes Investments in Loans and Discounts 3,376,149.3 5,238,204.2 7,965,978.6 13,505,896.8 15,259,800.2 Amount in Granted Loans for Year 4,678,069.6 8,269,016.9 6,317,322.3 3,033,450.1 3,651,501.1 Gathering of Deposits Amounts in Quetzales (Q.) Average Value of Loans Average Value of Savings Accounts 7,101,362.8 9,301,073.7 15,337,322.0 16,585,300.6 20,060,666.7 26,819.90 3,094.60 25,756.90 7,834.34 28,535.90 8,885.44 30,652.10 4,510.76 34,873.62 3,859.43 Average Value of Certificates at Term 128,290.40 114,836.87 139,693.57 173,017.08 172,561.50 Annual Report 2008 39 Comparative Balance Amounts in Thousands of Quetzales (Q.) ASSETS 2005 2006 Cash assets 1,220,326.9 1,340,557.8 3,082,222.5 2,654,738.5 3,804,369.6 Investments 2,889,359.6 3,365,615.0 5,563,679.7 2,876,388.2 4,594,803.5 Loans and Discounts 3,376,149.3 5,238,204.2 7,965,978.6 13,505,896.8 15,259,800.2 40,295.3 111,949.1 220,891.7 247,521.4 284,683.6 3,335,854.1 5,126,255.2 7,745,086.9 13,258,375.4 14,975,116.6 Other Accounts Receivable 225,411.4 298,224.8 267,523.0 367,499.6 324,608.8 Fixed Assets 134,796.7 158,997.7 194,833.9 295,730.1 482,666.1 Other Assets 105,542.9 117,093.5 161,507.4 205,076.6 295,903.3 Total Assets 7,911,291.5 10,406,744.0 17,014,853.3 19,657,808.4 24,477,467.9 LIABILITIES 2004 2005 2006 2007 2008 7,209,868.2 9,393,362.7 15,459,190.6 16,585,300.6 20,060,666.7 238,161.2 303,108.5 473,523.9 974,305.9 1,635,894.6 7,448,029.4 9,696,471.2 15,932,714.5 17,559,606.5 21,696,561.3 74,395.0 91,349.0 132,741.8 161,928.8 167,436.6 Equity 388,867.1 618,923.8 949,396.9 1,936,273.2 2,613,469.9 Primary Capital 228,914.2 346,463.5 554,074.8 872,921.8 1,483,255.6 46,018.9 77,548.9 68,314.2 483,052.0 397,925.8 113,934.0 194,911.4 327,007.9 580,299.4 732,288.4 7,911,291.5 10,406,744.0 17,014,853.3 19,657,808.4 24,477,467.9 Reserves for Loans of Doubtful Recovery Net Loans and Discounts Deposits and Financial Obligations Other Accounts Payable Total Liabilities Other Credit Accounts Complementary Capital Result of the Period Total of Liabilities and Capital 40 2007 2004 Annual Report 2008 2008 Comparative Earnings Statement Amounts in Thousands of Quetzales (Q.) 2004 2005 2006 Financial Incomes 620,876.5 902,737.5 1,236,376.7 Financial Expenses 232,661.5 302,104.9 401,464.3 Financial Results 388,215.0 600,632.6 834,912.4 28,454.2 75,371.4 111,551.7 Net Financial Result 359,760.8 525,261.1 723,360.7 Other Incomes 114,175.4 163,318.7 228,566.4 390,857.3 337,520.6 82,987.2 113,955.5 127,677.2 135,030.4 146,068.1 238,379.7 303,017.3 385,793.2 726,782.3 917,874.3 5,352.3 5,016.9 26,569.2 23,205.0 (3,257.9) Profit Before Tax 157,921.6 276,624.0 465,025.9 690,111.6 866,482.7 Income tax -ISR- 43,987.6 81,712.6 138,018.0 109,812.2 134,194.3 113,934.0 194,911.4 327,007.9 580,299.4 732,288.4 Expenses by Accounts of Doubtful Recovery Expenses Executives and Employees Other Management Expenses Extraordinary Incomes Profit After Tax Annual Report 2008 2007 2008 1,809,729.0 2,401,713.1 561,494.3 749,850.8 1,248,234.6 1,651,862.3 110,372.7 55,699.9 1,137,861.9 1,596,162.4 41 Opinion from the External Audit REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS To the Shareholders of Banco de Desarrollo Rural, S. A. We have audited the accompanying balance sheets of Banco de Desarrollo Rural, S. A. ("The Bank") as of December 31, 2008 and 2007 and the related statements of income, changes in capital accounts and cash flows for the years then ended. These financial statements are the responsibility of the Bank's Management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits accordance with international audit standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and the significant estimates made by Management, as well as evaluating the overall financial statements presentation. We believe that our audits provide a reasonable basis for our opinion. As described in Note 3 to the financial statements, for the preparation and presentation of its financial statements the Bank used the provisions of the Monetary Board and 42 the accounting policies and practices contained in the Manual of Accounting Instructions for Entities Subject to Vigilance and Inspection of the Superintendence of Banks. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Banco de Desarrollo Rural, S. A. as of December 31, 2008 and 2007 and the results of its operations and its cash flows for the years then ended, in conformity with the basis of accounting described in Note 3 to the financial statements. Grant Thornton, Pineda, Tezó y Asociados Annual Report 2008 Guatemala, C.A. January 3, 2009. BALANCE SHEET Condensed to December 31, 2008 Exchange Rate U.S. $1.00 x 7.78159 (Amounts in Quetzales) ASSETS LIQUID ASSETS CAJA CENTRAL BANK COUNTRY BANKS FOREING BANKS CHECKS AND TRANSFERS OF MONEY TO CLEARING FOREING TRANSFERS INVESTMENTS SECURITIES FOR NEGOTIATION SECURITIES FOR SELL SECURITIES FOR MATURITY OPERATIONS OF REPORTO PARTICIPATION CERTIFICATES INTERESTS PAID IN PURCHASE OF VALUES SUM (-)ESTIMATIONS FOR VALUATION LOANS PORTFOLIO CURRENT LATE TOTAL 3,804,369,574.24 4,496,100,018.38 14,975,116,622.67 NATIONAL CURRENCY 3,582,800,963.07 766,540,613.60 2,583,972,569.98 2,160,241.13 0.00 230,127,538.36 0.00 4,191,975,993.59 0.00 2,961,347,979.89 1,106,885,213.04 129,000,000.00 0.00 1,628,013.70 4,198,861,206.63 6,885,213.04 13,358,699,497.70 13,468,337,107.59 142,328,843.65 13,610,665,951.24 251,966,453.54 SUM (-) ESTIMATIONS FOR VALUATION FINANCIAL PRODUCTS RECEIVABLE 218,137,654.25 198,694,987.30 ACCOUNTS RECEIVABLE (-) ESTIMATIONS FOR VALUATION 106,471,165.50 150,710,742.80 54,659,294.59 MARKETABLE GOODS (-) ESTIMATIONS FOR VALUATION 66,769,913.95 77,470,095.27 11,942,063.17 PERMANENT INVESTMENTS (-) ESTIMATIONS FOR VALUATION 98,703,488.39 98,703,488.39 0.00 OTHER INVESTMENTS (-) ESTIMATIONS FOR VALUATION 50,344,438.05 50,344,438.05 0.00 BRANCHES, HEADQUARTERS AND DEPARTMENTS ASSOCIATED 0.00 0.00 0.00 REAL ESTATE AND FURNITURE (-) ACCUMULATED DEPRECIATION 482,666,074.09 586,721,460.13 104,055,386.04 DEFERRED CHARGES (-) ACCUMULATED AMORTIZATION 178,788,907.87 233,939,882.99 55,150,975.12 SUM OF ASSETS 24,477,467,857.39 FOREIGN CURRENCY (IN QUETZALES) LIABILITIES OTHER CREDITOR ACCOUNTS AND CAPITAL 221,568,611.17 DEPOSIT OBLIGATIONS MONETARY DEPOSITS 85,566,157.12 87,404,227.43 SAVINGS DEPOSITS TERM DEPOSITS 0.00 32,440,433.22 ORDER DEPOSIT 6,581,793.72 DEPOSITS WITH RESTRICTIONS 9,575,999.68 OBTAINED LOANS FROM CENTRAL BANK 304,124,024.79 FROM NATIONAL FINANCIAL INSTITUTIONS 0.00 304,087,670.29 FROM FOREIGN FINANCIAL INSTITUTIONS FROM INTERNATIONAL BODIES 0.00 0.00 0.00 36,354.50 FINANCIAL INSTITUTIONS BONDS 304,124,024.79 FINANCIAL RPOMISSORY NOTES 0.00 FINANCIAL OBLIGATIONS AT ORDER 1,616,417,124.97 FINANCIAL OBLIGATIONS WITH RESTRICTIONS 1,644,152,998.51 4,981,252.78 PAYABLE FINANCIAL EXPENSES PAYABLE ACCOUNTS 1,649,134,251.29 PROVISIONS 32,717,126.32 BRANCHES, HEADQUARTERS AND DEPARTMENTS ASSOCIATED OTHER OBLIGATIONS DEFERRED CREDITS 19,442,666.95 SUM OF LIABILITIES 10,419,717.29 OTHER CREDITOR ACCOUNTS 0.00 SUM OF LIABILITIES AND OTHER CREDITOR ACCOUNTS 1,241,881.85 0.00 ACCOUNTING CAPITAL NATIONAL CURRENCY 18,954,940,827.06 8,935,150,028.42 5,349,636,712.72 4,574,402,377.06 49,695,911.89 46,055,796.97 FOREIGN CURRENCY (IN QUETZALES) 654,450,901.16 295,580,981.93 121,563,800.47 236,785,346.82 373,391.27 147,380.67 1,146,372,885.76 20,606,788.55 0.00 14,333,333.35 6,273,455.20 0.00 1,125,766,097.21 0.00 0.00 1,125,766,097.21 0.00 451,275,000.00 451,275,000.00 451,275,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 75,267,391.39 349,841,542.27 49,054,494.43 0.00 0.00 15,358,307.68 21,696,561,349.75 66,679,626.79 302,525,664.04 49,054,494.43 0.00 0.00 15,358,307.68 8,587,764.60 47,315,878.23 167,436,649.37 155,211,564.49 12,225,084.88 TOTAL 19,609,391,728.22 21,863,997,999.12 0.00 PAID CAPITAL 0.00 AUTHORIZED CAPITAL NON-PAID CAPITAL (-) 0.00 HEADQUARTERS, ASSIGNED CAPITAL 0.00 782,467,000.00 0.00 PERMANENT CONTRIBUTIONS 0.00 CAPITAL RESERVES RESERVE FOR EXTRAORDINARIES ASSETS 0.00 REVALUATION OF ASSETS 0.00 SUBORDINATED OBLIGATIONS EARNINGS AND LOSSES FOR FUSION (+) (-) 0.00 VALUATION OF ASSETS OF DOUBTFUL RECOVERY (-) 0.00 PROVISION OF BENEFITS TO EMPLOYEES (-) CONTRIBUTION TO IRS EARNINGS OR LOSSES FOR CHANGES IN THE VALUE OF INVESTMENTS MARKET (+) (-) RESULTS FROM PREVIOUS PERIODS (+) (-) RESULTS OF THE PERIOD (+) (-) SUM OF THE ACCOUNTING CAPITAL 26,932,760.00 673,855,844.68 3,000.00 32,204,068.82 392,863,600.00 26,932,760.00 673,855,844.68 3,000.00 32,204,068.82 392,863,600.00 0.00 0.00 0.00 0.00 0.00 0.00 -27,223,187.13 78,346.37 732,288,425.53 2,613,469,858.27 -27,223,187.13 78,346.37 732,288,425.53 SUM OF LIABILITIES, OTHER CREDITOR ACCOUNT S AND CAPITAL 1,500,000,000.00 717,533,000.00 0.00 24,477,467,857.39 The figures in foreign currency are expressed at the Exchange rate of reference of 7.78159 for US$1.00, published by the Banco de Guatemala to December 31, 2008. GUATEMALA,December 31st. 2008 General Accountant General Manager CONTINGENCIES, COMMITMENTS AND OTHER RESPONSIBILITIES CONTINGENCIES AND COMMITMENTS MERCHANDISE IN DEPOSIT ORDER ACCOUNTS VALUES AND GOODS GRANTES IN GUARANTEE GUARANTEE LOANS PORTFOLIO CLASSIFICATION OF INVESTMENTS, LOANS PORTFOLIO AND OTHERS MARGINS TO DRAW OTHER´S MANAGEMENTS OWN DOCUMENTS AND VALUES AUTHORIZED ISSUES OF FINANCIAL OBLIGATIONS FINANCIAL OBLIGATIONS AMORTIZED FINANCIAL OBLIGATIONS TITLES ON DEPOSIT MERCHANDISES INSURANCES AND BONDS POLICIES REPORTO OPERATIONS OTHER ORDER ACCOUNTS In our opinion, the Balance Sheet shows reasonably, in all important aspects, the financial situation of Banco de Desarrollo Rural, S. A. to December 31, 2008, according to the stablished accounting bases issued by the Superintendencia de Bancos de Guatemala. 983,186,787.57 0.00 0.00 21,007,164,473.69 15,025,053,564.36 517,575,130.88 2,701,179,364.76 15.00 451,275,000.00 0.00 0.00 0.00 0.00 8,602,662.60 1,073,790,949.40 0.00 0.00 0.00 Internal Auditor Grant Thornton, Pineda, Tezó y Asociados Chairman of the Board of Directors Guatemala, C.A. January 3rd. 2009. Annual Report 2008 43 EARNINGS STATEMENT Condensed from January 1st. to December 31st. 2008 (Figures in Quetzales) FINANCIAL PRODUCTS Interests Commissions Securities Negotiation Prices differences in Reporto Operations 2,393,265,153.18 8,447,955.65 0.00 0.00 FINANCIAL EXPENSES Interests Commissions Additional Benefits Securities Negotiation FOPA fee Non-collected products Prices differences in Reporto Operations 675,606,509.28 33,057,796.86 183,849.21 1,790,188.28 25,474,839.61 0.00 13,737,602.13 2,401,713,108.83 749,850,785.37 We have audited the Earnings Statements of Banco de Desarrollo Rural, S. A. of the year ended to December 31st., 2008. This financial statement has been prepared according to the established accounting bases issued by the Superintendencia de Bancos and they are responsibility of the Bank Management. Our responsibility is to express an opinion about the financial state based upon our audit. 1,651,862,323.46 INVESTMENTS MARGIN PRODUCTS FOR SERVICES Different Services Commissions Leasings Storage Appraisals and Inspections Account operation Others 218,459,275.17 95,594.55 231,500,040.65 5,580,355.04 7,364,275.89 540.00 EXPENSES FOR SERVICES Commissions for services 85,663,938.95 85,663,938.95 145,836,101.70 MARGIN FOR SERVICES OTHER PRODUCTS AND OPERATION EXPENSES PRODUCTS Earnings for Market Value of Securities Variations and Exchange Earnings in Foreign Currency Products for Shares Investments Products for Companies Promotion We made our audit according to the generally accepted auditing rules in Guatemala. These regulations need a planned audit to get reasonable certainty that the financial statement does not have important errors. An audit includes the exam, on a selective base, of the evidence that supports the quantities and revelations showed in the financial statement, the evaluation of the used principles of accounting and the important estimations made by the Management, and an evaluation of the general presentation of the financial statement. We consider that our audit gives a reasonable base for our opinion. 106,020,596.45 106,020,596.45 EXPENSES Loss for Value of Securities Market Variations and Exchange Losses in Foreign Currency Bad debt and doubtful recovery Expenses for Companies Promotion 35,829,314 .72 55,699,924.20 The Bank, for the preparation and presentation of its financial statement, used the regulations issued by the Junta Monetaria and the politics and accounting practices contained in the Manual de Instrucciones Contables para Entidades Sujetas a la Vigilancia e Inspección de la Superintendencia de Bancos. 91,529,238.92 14,491,357.53 MARGIN OF OTHER PRODUCTS AND OPERATION EXPENSES 1,812,189,782.69 GROSS OPERATIONAL MARGIN 942,449,225.96 MANAGEMENT EXPRENSES 869,740,556.73 NET OPERATIONAL MARGIN EXTRAORDINARY PRODUCTS AND EXPENSES Extraordinary Products Extraordinary Expenses 10,192,141.35 11,921,060.92 PRODUCTS AND EXPENSES OF PREVIOUS FISCAL YEARS Products of Previous Fiscal Years Expenses of Previous Fiscal Years 742,048.75 2,271,000.10 -1,728,919.57 -1,528,951.35 In our opinion, the financial statement previously mentioned shows reasonably, in all its important aspects, the results of the operations of Banco de Desarrollo Rural, S. A. to the year ended at December 31st, 2008, according to the accounting bases established by the Superintendencia de Bancos de Guatemala. Grant Thornton, Pineda, Tezó and Associates 866,482,685.81 GROOS EARNINGS (LOSS) 134,194,260.28 INCOME TAX 732,288,425.53 NET EARNING (LOSS) GUATEMALA, December 31, 2009 General Accountant General Manager 44 Internal Auditor Guatemala, C.A. January 3rd. 2009. Chairman of the Board of Directors Annual Report 2008 Coverage Map ALTA VERAPÁZ AUTOBANCO - COBAN FEDERACION DE COOPERATIVAS LAS VERAPACES - 6A CALLE 5-05, ZONA 11C.C. PLAZA MAGDALENA 1 CALLE 15-20 ZONA 2 COBAN CAHABONSANTA MARIA CAHABON / ALTA VERAPAZ BARRIO SAN SEBASTIANCARCHALOCAL 3Y4 C. COMERCIAL CHIXTUN, ZONA 5 CHAHAL FRENTE AL PARQUE CENTRAL, MUNICIPIO DE CHAHAL CHISEC BARRIO EL CENTRO EDIFICIO MUNICIPAL, CHISECCOBAN2 CALLE 1-02 ZONA 4 COBAN IMPERIAL2 CALLE 1-34 ZONA 2 EDIFICIO TORRE GRISFRAY BARTOLOME DE LAS CASASBARRIO EL CENTRO, CALLE PRINCIPAL FRAY BARTOLOME DE LAS CASASLA TINTABARRIO EL CENTRO, ZONA 1 LA TINTA, SOBRE CALLE PRINCIPAL LANQUIN BARRIO SAN VICENTE SAN AGUSTIN, MUNICIPIO DE LANQUIN PANZOSBARRIO EL CENTRO PANZOSRAXRUJACALLE PRINCIPAL DE RAXRUJA SAN CRISTOBAL VERAPAZ CANTON KAJKOJ, ZONA 01 SAN JUAN CHAMELCO 1A. CALLE "A" 1-08 ZONA 1, BARRIO SAN JUAN SAN PEDRO CARCHA 4 calle 7-70 zona 1 SANTA CRUZ VERAPAZ CALLE 3 DE MAYO Y 2A. AVENIDA ZONA 1,ENTRADAPRINCIPALSENAHUPRIMER NIVEL EDIFICIO DE HOTEL EL RECREO, FRENTE AL PARQUE CENTRAL DE SAN ANTONIO SENAHUTACTIC6A. AVENIDA 2A. CALLE "A", 2A-25 ZONA 1TELEMANCALLE PRINCIPAL TELEMANTUCURUPLANTA BAJA EDIFICIO MUNICIPAL TUCURU BAJA VERAPÁZ CUBULCOSALIDA COLONIA EL NARANJO, BARRIO MAGDALENA, EDIFICIO MUNICIPAL DE CUBULCOCUBULCO CENTROEDIFICIO MUNICIPAL BARRIO SANTIAGOEL CHOLBARRIO EL CENTRO, STA CRUZ EL CHOL, EDIFICIO MUNICIPALGRANADOSCALLE PRINCIPAL,EDIFICIO MUNICIPAL, GRANADOSPURULHABARRIO EL CENTRO PURULHA, EDIFICIO MUNICIPALRABINAL2DA. CALLE Y 2DA. AVENIDA ESQUINA ZONA 02SALAMA8A. AVENIDA 6-60 ZONA 1SALAMA 5A AVENIDA5AV. 6-21 ZONA 1SALAMA CENTROBARRIO EL CENTRO SALAMA CHIMALTENANGO CHIMALTENANGO 1 CALLE 4-88 ZONA 1COMALAPA 0 AVENIDA 2-09 ZONA 4 SAN JUAN COMALAPAEL TEJARKM 52.5 CARRETERA INTERAMERICANA, EL TEJAR MERCADO TECPANEDIF KATOKI 2AVE 2-07 ZONA 1 TECPANPARRAMOSCALLE DE LOSSANTOS INOCENTES 0-63, ZONA 4 PATZUN 5TA. CALLE 5-71 ZONA SAN ANDRES ITZAPA CANTON SANTISIMA TRINIDAD, A UN COSTADODE EDIFICIO MUNICIPAL DE SAN ANDRES ITZAPASAN JOSE POAQUIL1 AV. 2 CALLE ZONA 3EDIFICIO MUNICIPAL, SAN JOSE POAQUILSAN MARTIN JILOTEPEQUEBARRIO EL GUITE ZONA 04SAN MIGUEL POCHUTAEDIFICIO ANEXO MUNICIPALIDAD DE POCHUTASANTRA CRUZ BALANYAC.C. PARQUE CENTRALSAT - CHIMALTENANGO1 CALLE 1-34 ZONA 3 AGENCIA SAT -TECPAN 1 CALLE 1-47 ZONA 4 PLAZA TECPANZARAGOZA, CHIMALTENANGOEDIFICIO MUNICIPAL ZARAGOZA CHIQUIMULA ADUANA AGUA CALIENTE CALLE PRINCIPAL ALDEA AGUA CALIENTE ESQUIPULASADUANA EL FLORIDO FRONTERA EL FLORIDO, CAMOTAN ADUANA ERMITA ALDEA LA ERMITA CONCEPCION LAS MINASAUTOBANCO LAS MINAS ESQUIPULAS KM 222.5 RUTA A HONDURAS,GASOLINERA TEXACO AUTOBANCO TEXACO CHIQUIMULA KM 171.5 RUTA A ESQUIPULAS CAMOTAN BARRIO LA PARROQUIA, CAMOTÁN, CHIQUIMULA CHIQUIMULA 6 CALLE 6-51 ZONA 1 CHIQUIMULA 8A AVENIDA2 CALLE 9-99 ZONA 1 CHIQUIMULA CHIQUIMULA CENTRO 3A CALLE 6-51 ZONA 1 CONCEPCION LAS MINAS CALLE PRINCIPAL, A UN COSTADO DE LA IGLESIA CATOLICA ESQUIPULAS 4TA. AVENIDA 7-30 ZONA 1 IPALA PALACIO MUNICIPAL, IPALA CHIQUIMULA IPALA 3A CALLE 3 CALLE 3-66 ZONA 1 JOCOTAN BARRIO SAN SEBASTIAN, JOCOTAN OLOPA BARRIO EL CENTRO OLOPA FRENTE AL PARQUE QUETZALTEPEQUE 2A CALLE 2-16 ZONA 2 ESCUINTLA ESCUINTLA 4TA AVE 6-44 ZONA 1 ESCUINTLA 3A CALLE4 AVENIDA 3-19 ZONA 1ESCUINTLA CENTRO 9A CALLE 3-16 ZONA 1 EDIFICIO MUNICIPAL DE ESCUINTLA IGSS SANTA LUCIA COTZUMALGUAPA KM 91 CA-2 HOSPITAL IGSS SANTA LUCIA COTZ, AREA CONSULTA EXTERNA LA DEMOCRACIA ESCUINTLAEDIFICIO MUNICIPAL LA DEMOCRACIALA GOMERA4TA. CALLE ESQUINA ENTRE 4 AV Y 5 AV ZONA 1, CC COMERCIAL MUNICIPAL MUNICIPALIDAD SANTA LUCIA COTZUMALGUAPA5TA CALLE 3-39 Z1 SANTA LUCIA COTZUMALGUAPA /ESCUINTLANUEVA CONCEPCIONCENTRO CIVICO, CALLE EL SALVADORORGANISMO JUDICIAL ESCUINTLA KM. 53.5 ANTIGUA CARRETERA A ESCUINTLA, CENTRO REGIONAL DE JUSTICIA, MICROPARCELAMIENTO SAN ANTONIO EL CALVILLO PALIN2DA. CALLE 1-67 ZONA 4, 2DO. NIVEL EDIFICIO CODEPA PLAZA PALMERAS CC PLAZA PALMERAS LOCAL R-1PUERTO QUETZALAVENIDA EL COMERCIO CALLE PRINCIPAL FRENTE AL COLEGIO GENESIS PTO. SAN JOSE SANTA LUCIA COTZUMALGUAPA3A AVENIDA 3-05 ZONA 1SIQUINALA 1ER. NIVEL EDIFICIO MUNICIPAL TIQUISATE CENTRO COMERCIAL EL CASTILLO, TIQUISATE EL PROGRESOEL PROGRESO 2 0 CALLE 1-30 ZONA 3, FRENTE AL MERCADO MUNICIPAL GUASTATOYABARRIO LAS JOYAS MERCADO GUASTATOYA BARRIO EL PORVENIR, EDIFICIO MERCADO MUNICIPAL MORAZAN BARRIO EL CENTRO, A UN COSTADO DEL SALON MUNICIPAL PUERTA A LAS VERAPACES KM. 95 GASOLINERA Y AUTOMARKET, PUERTA A LAS VERAPACES, CARRETERA HACIA COBÁN, ENTRADA A MORAZAN SAN AGUSTIN ACASAGUASTLAN BARRIO EL CENTRO SAN AGUSTIN ACASAGUASTLAN SAN CRISTOBAL ACASAGUASTLAN PRIMER NIVEL EDIFICIO MUNICIPAL SANARATE AVENIDA ISMAEL 1-58 ZONA 3 SANSARE ANEXO DEL EDIFICIO MUNICIPAL DE SANSARE GUATEMALA 15 AVENIDA ZONA 6 015 AVE 10-67 ZONA 6 19 CALLE 1-29 ZONA 1 2 CALLE ZONA 9 2DA. CALLE 4-38 ZONA 9 AEROPUERTO ADUANA DEL AEROPUERTO INTERNACIONAL LA AURORA AG. ZONA11 32 CALLE 5-90 ZONA 11 LAS CHARCAS AGENCIA MIXCO4 CALLE 6-39 Z.1, MIXCO AGENCIA VILLA NUEVA5 AVENIDA 5-61 ZONA 1, VILLA NUEVA. AGENCIA ZONA 18 KM. 5.5 RUTA AL ATLANTICO ZONA 18,CENTRO COMERCIAL METRONORTE, LOCAL NO. 302 AGENCIA ZONA 19CALZ. SN JUAN 1-83 CC. PLAZA FLORIDA AGENCIA ZONA 5 27 CALLE 15-13 15-17, ZONA 5 AGENCIA ZONA 6 (MARTI)15 AV. 2-28, ZONA 6, CALLE MARTI AGENCIA ZONA 7CENTRO COMERCIAL LA QUINTA LOCALES 4,5 Y 6 CALZADA SAN JUAN ZONA 7AGENCIA, 18 CALLE ZONA 17 A. AVENIDA Y 18 CALLE ZONA 1, EDIFICIO TIPOGRAFIA NACIONAL ALPASA AVENIDA PETAPA 55-38 ZONA 12 AMATITLAN 5 AV. 6-37 AMATITLAN AUTOBANCO - CIUDAD VIEJA2A AVENIDA 3-52,ZONA 10 AUTOBANCO PETAPAAVENIDA PETAPA 34-11, 34-17 Y 34-23 ZONA 12 AUTOBANCO - ROOSEVELT CALZADA ROOSEVELT 43-53, ZONA 11 AUTOBANCO SAT ROOSEVELTCALZADA ROOSEVELT, PLAZA HELVETIA, 34-85 ZONA 11 AUTOBANCO - VILLA CLARITACENTRO COMERCIAL CONDADO VILLA CLARITA,KM. 17 CARR. A EL SALVADOR, LOCALES 44 Y 45 AUTOBANCO AGUILAR BATRESCALZADA AGUILAR 37-00 ZONA 11 AUTOBANCO CENTRO COMERCIAL EL NARANJOLOCAL COMERCIAL PLAZA EL NARANJO 24-53, ZONA 4 BOSQUES DESAN NICOLAS AVENIDA BOLIVARAVENIDA BOLIVAR 33-30 ZONA 3 AVENIDA PETAPAAVE PETAPA 47-00 ZONA 12 AVENIDA REFORMA AVENIDA REFORMA 9-30 ZONA 9 BANRURAL - FONAPAZ5A. AVENIDA 8-50, ZONA 9 BANRURAL - SAT8A. AV. Y 21 CALLE ZONA 1 PRIMER NIVELDENTRO DEL M.F.P. BOCA DEL MONTE 1 AVENIDA 1-52 ZONA 1 BOSQUES DE SAN NICOLAS 7MA CALLE 37-24 ZONA 4 MIXCO COL BOSQUES DE SAN NICOLAS BOULEVAR LIBERACION BOULEVAR LIBERACION 4-55 ZONA 9 CALZADA AGUILAR BATRES CALZADA AGUILAR BATRES 15-41 ZONA 12 CEMEX AMATITLAN KM. 30.5 CARRETERA AL PACÍFICO CENMA 2 51 CALLE FINAL EDIF. ADMINISTRACIÓN CENTRAL DE MAYOREO VILLA LOBOS ZONA 12 CENTRAL DE MAYOREO (CENMA) 51 CALLE FINAL VILLALOBOS 1 CENMA 1, ZONA 12 CENTRO CIVICO 21 CALLE 677, ZONA 1, CENTRO CIVICO-PALACIO MUNICIPAL EN EL SOTANO CENTRO COMERCIAL MONTUFAR 12 CALLE 0-29 ZONA 9, LOCAL 12B CENTRO COMERCIAL MONTUFAR CENTRO COMERCIAL PACIFIC CENTER CALZADA AGUILAR BATRES 32-10 ZONA 11, CENTRO COMERCIAL PACIFIC CENTER PASEO SUBTERRANEO,FRAIJANES1ERA AVE 1-28 ZONA 3 FRAIJANES / GUATEMALA GEMINIS 10 12 CALLE 1-25 ZONA 10 LOCAL 127 PRIMER NIVEL GEMINIS 10 NO. 2 12 CALLE 1-25 ZONA 10 GEMINIS 10 HOSPITAL ROOSEVELTCALZADA ROOSEVELT, ZONA 11, AREA DE TRABAJO SOCIAL, PRIMER NIVEL IGSS CENTRAL7A. AVENIDA 22-72 ZONA 1 IGSS MONTE REAL 13 AVE. 1-51 ZONA 4 DE MIXCO IGSS PAMPLONA 14 AVENIDA Y 4 CALLE IGSS PAMPLONA ZONA 12 IGSS ZONA 115A. AVENIDA 10-86 ZONA 11 IGSS ZONA 5 DIAGONAL 14 16-93 ZONA 5 IGSS ZONA 6 EDIFICIO DEL IGSS, ZONA 6 IGSS ZONA 99A. CALLE 7-65 ZONA 9 INFOM 8A. AVENIDA 1-66 ZONA 9, PRIMER NIVEL EDIFICIO INFOM INGUAT 7A AVENIDA 1-17 ZONA 4, PRIMER NIVEL EDIFICIO INGUAT INTECAP CALLE DEL ESTADIO MATEO FLORES 7-51 Z 5 IPM 5 AVENIDA 6-06ZONA 1, GUATEMALA KOREA CENTER CALZADA ROOSEVELT 13-46 ZONA 7, C.C. KOREA CENTER LA REFORMA AVENIDA LA REFORMA 256 ZONA 9 LA TORRE 7 AV. 2 CALLE ZONA 9, EDIFICIO INDE LLANO LARGO KM. 16.5 CARRETERA AL ATLANTICO, JARDINES DEL ROSARIO LOS PROCERES 18 CALLE 12-24 ZONA 10 BOULEVRAD LOS PROCERES MEGA PRIMMA CALZADA SAN JUAN 14-27 Y 14-60 ZONA 7 CENTRO COMERCIAL GALERÍAS PRIMMA MEGA TERMINAL ZONA 4 RUTA 8 3-29 ZONA 4 CENTRO COMERCIAL MEGA TERMINAL MERCADO BETHANIA 27 AVENIDA 11-00 ESQUINA ZONA 7 COLONIA BETHANIA INTERIOR ADMON. MERCADO BETHANIA MERCADO CANDELARIA15 AVENIDA 25 CALLE PROYECTO 4-3 ZONA 6, INTERIOR MERCADO CANDELARIA, FRENTE AL ESTADIO LA PEDRERA MERCADO CENTRAL ZONA 1 9A AVENIDA 7A Y 8A CALLE ZONA 1, INTERIOR ADMINISTRACION MERCADO COLON 14 AVENIDA Y 7A CALLE ZONA 1, INTERIOR MERCADO COLON LOCAL 21 MERCADO EL GRANERO28 CALLE FINAL, VIA 1, ZONA 4 MERCADO EL GUARDA 3 AVE. ENTRE 2 Y 3 CALLE, ZONA 11 MERCADO JUSTO RUFINO BARRIOS 34 AV. 10 CALLE ZONA 21 COLONIA JUSTO RUFINO BARRIOSMERCADO LA FLORIDA12 AVE Y 5A CALLE ZONA 19, INTERIOR ADMINISTRACION MERCADO LA PALMITA 16 AVE. ENTRE 26 Y 27 CALLE, ZONA 5 MERCADO LA PARROQUIA CALLE MARTI Y 11 AVE ZONA 6, INTERIOR ADMINISTRACION MERCADO LA PRESIDENTA 2A AVENIDA, ENTRE 21 Y 22 CALLE ZONA 1 INTERIOR ADMON. MERCADO LA PRESIDENTA MERCADO LA REFORMITA 22 CALLE Y 11 AVENIDA ZONA 12 COLONIA LA REFORMITA INTERIOR ADMON. MERCADO LA REFORMITA MERCADO ROOSEVELT 12 AVENIDA Y 12 CALLE ZONA 11 COLONIA ROOSEVELT, A UN COSTADO DE ADMINISTRACIÓN DE LA MUNICIPALIDADMERCADO SAN JOSE MERCANTIL 5A CALLE Y 12 AVENIDA DE LA ZONA 7 QUINTA SAMAYOA, INTERIOR ADMINISTRACION MERCADO SAN MARTIN 18 AVENIDA ENTRE 1A Y 1A CALLE 'A', ZONA 6, INTERIOR ADMINISTRACION MERCADO SUR 26A AVENIDA ENTRE 19 Y 21 CALLE, ZONA 1, INTERIOR ADMINISTRACION MERCADO TERMINAL ZONA 4 0 AVE. 7A Y 8A CALLE ZONA 4, INTERIOR ADMINISTRACION MERCADO VENEZUELA 16 AVENIDA 12-00 ZONA 21, COLONIA VENEZUELA COSTADO DEL MERCADO METAMERCADO SAN JUAN 10 AVE CALZADA SAN JUAN ZONA 7, CENTRO COMERCIAL META MERCADO SAN JUAN METATERMINAL DEL NORTE 11 AVE 4-78 ZONA 18 COL. ATLANTIDA CENTRO COMERCIAL METATERMINAL DEL NORTE MIGRACION6A AVENIDA 3-11 ZONA 4 MINI MUNI CALZADA SAN JUANCALZADA SAN JUAN 35-39 ZONA 07 COL. EL RODEO MINI MUNI GALERIAS DEL SUR CALZADA AGUILAR BATRES 34-39 ZONA 11 MINI MUNI METRONORTE CC. METRONORTE LOCAL 253 MINI MUNI PLAZA ATNASIO TZUL ZONA 12, CALZADA ATANASIO TZUL 51-57, C.C. PLAZA ATANASIO TZUL LOCAL 36 MINI MUNI PLAZUELA ESPAÑA 7 AV. 12-39 ED. ETIZA,PLAZUELA ESPAÑA ZONA 9 MINISTERIO DE RELACIONES EXTERIORES 2A. AV. 4-17 ZONA 10 2DO. NIVEL EDIFICIO DE MINISTERIO DE RELACIONES EXTERIORES MINISTERIO PUBLICOEDIFICIO MINISTERIO PUBLICO, 8A. AVENIDA 10-67 ZONA 1 MINISTERIO PUBLICO FISCALIAS 15 CALLE Y 15 AVENIDA 15-16 ZONA 1, BARRIO GERONA MIRAFLORES 21 AVE 4-32 ZONA 11 CENTRO COMERCIAL GALERIAS MIRAFLORES 2DO NIVEL PLAZA FINANCIERA LOCAL PF-05 MONJA BLANCA 7A. AVENIDA 12-90 ZONA 13, INTERIOR MAGA NOVICENTRO 17 AVE 27-75 ZONA 11 ANILLO PERIFERICO CENTRO COMERCIAL NOVICENTRO OFICINA ZONA 1 (CENTRO) 9 CALLE 9-47 ZONA 1 ORGANISMO JUDICIAL ZONA 9 7AV. 9-20 ZONA 9 EDIF. JADE ORGANISMO JUDICIAL ORGANISMO JUDICIAL 21 CALLE 7-70 Z.1 CENTRO CIVICO,EDIFICIO DEL ORGANISMO JUDICIAL ORGRANISMO JUDICIAL MIXCO 5A, AVENIDA 4-95 ZONA 1 PALENCIACENTRO CIVICO PALENCIA PERIROOSEVELTCALZADAROOSEVELT 25-50, ZONA7, CENTRO COMERCIAL PERIROOSEVELT LOCAL 43 PLAZA ATANAZIO TZUL CALZADA ATANAZIO TZUL 51-57 ZONA 12 CENTRO COMERCIAL PLAZA ATANAZIO TZUL LOCALES 165, 166 Y 167 PLAZA INTERCONTINENTAL 3ERA AVE 13-78 ZONA 10 EDIF CITIGROUP 5TO NIVEL PRISA CENTRO COMERCIAL PRISA, BOULEVARD LOS PROCERES PUERTA PARADA KM 14.5 CARRET AL SALVADOR PUERTA PARADA Z2 SANTA CATARINA PINULA REGISTRO MERCANTIL 7A. AVENIDA 7-61 ZONA 4 ROOSEVELT 2 CALZADA ROOSEVETLH 24-58 ZONA 7 ROOSEVELTH CALZADA ROOSEVELTH 38-39 ZONA 11 A UN COSTADO DE PIZZA MIA SALA DE CONTEO AVENIDA PETAPA 42-51 ZONA 12 FRENTE AL IRTRA DE LA AVENIDA PETAPA SAN CRISTOBAL 19 AV. 3-60 SECTOR B-6 ZONA 8 MIXCO, SAN CRISTOBAL SAN JOSE PINULA 1ERA CALLE 1-35 ZONA 1 SAN JOSE PINULA SAN JUAN SACATEPEQUEZ 6A AVENIDA 8-14 ZONA 1, SAN JUAN SACATEPEQUEZ SAN MIGUEL PETAPA LOTE 23, LOTIFICACION EL CORTIJO, MUNICIPIO DE SAN MIGUEL PETAPA SAN RAFAEL 12 CALLE 7-68 ZONA 18 SAN RAFAEL SAN RAYMUNDO 4A. CALLE Y 5A. AVENIDA, ZONA 1, MUNICIPIO DE SAN RAYMUNDO SANTA FE 28 CALLE A 12-56 ZONA 13 COL SANTA FE SAT - AGUILAR BATRES CALZADA AGUILAR BATRES 15-43, ZONA 12 SAT - MONSERRAT CALZADA SAN JUAN 14-06 ZONA 4 DE MIXCO, CENTRO COMERCIAL MONSERRAT 2DO NIVEL SAT - VILLA NUEVA 5TA AV. 445 ZONA 1 EDIFICIO MUNICIPALIDAD DE VILLA NUEVA SAT ZONA 9 7A AVENIDA 3-73 ZONA 9, EDIFICIO SAT SEGUROS UNIVERSALES4 CALLE 7-73 ZONA 9 SUZUKIAVENIDA LA CASTELLANA 39-48 ZONA 8 TERMINAL BAZARES VILLA 4, 7-50 ZONA 4 TRANSITO GALERIAS DEL SUR CC.GALERÍAS DEL SUR, 34-70 LOCAL I-6/7 EN EL DEPTO DE TRÁNSITO, Z.11, CALZ. AGUILAR BATRES CENTRO COMERCIAL GALERIAS DEL SUR, CALZADA AGUILAR BATRES USAC1ER. NIVEL EDIF. CAJA, UNIV. SAN CARLOS DE GUATEMALA ZONA 12 VAGUSA KILOMETRO 20.5 CARRETERA AL ATLANTICOVILLA CANALES2A AVENIDA 4-99 ZONA 1 VILLA DE GUADALUPE 20 CALLE 14 AVE. ESQUINA ZONA 10VILLA HERMOSA 35 AVENIDA 19-98 ZONA 7 VILLA HERMOSA I VILLA NUEVA 2 1 CALLE 2-13 ZONA 1 VISTA HERMOSA 2 2DA CALLE 18-28 ZONA 15 VISTA HERMOSA II WAY AMATITLAN 3A. AVENIDA 4-28 LA CRUZ WAY VILLA NUEVA 3A. AVENIDA 5-69 ZONA 1 ZONA FRANCA KILOMETRO 30.5, CARRETERA CA-9 SUR AMATITLAN, INTERIOR ZONA FRANCA GRUPO ZETA HUEHUETENANGO ADUANA LA MESILLA LA MESILLA, LA DEMOCRACIA AGUACATAN INTERIOR CENTRO COMERCIAL FLORISMA ZONA 1 BARILLAS 2A AVENIDA 2 AVENIDA 3-28 ZONA 1 CAMOJA INSTALACIONES DE HOTEL LA BENDICIÓN DE DIOS ALDEA CAMOJA GRANDE CHIANTLA 7A CALLE Y 6A AVENIDA 5-97 ZONA 1 CONCEPCION HUISTA CANTON CIPRES, EDIFICIO MUNICIPAL CUILCO CALLE LA UNION CUILCO, HUEHUETENANGO HUEHUETENANGO 5 CALLE 7-48 ZONA 1 HUEHUETENANGO AGENCIA TRIBUTARIA 4TA AVE A 2-25 ZONA 1 HUEHUETENANGO HUEHUETENANGO TORRE 3A CALLE 6-16 ZONA 1 JACALTENANGO 2DA CALLE 2-110 Z . 2 CANTON PILA JACATENANGO JACALTENANGO 2 CANTON PILA JACALTENANGO LA DEMOCRACIA EDIFICIO MUNICIPAL, LA DEMOCRACIA LA LIBERTAD HUEHUETENANGO LIBERTAD HUEHUETENANGO LA MESILLA ALDEA LA MESILLA, LA DEMOCRACIA LA MESILLA CARRETERA INTERAMERICANA KM. 339 CARRETERA INTERAMERICANA MERCADO BARILLAS7A. AV. 12-39 ZONA 01 NENTONFRENTE AL CENTRO DE SALUD NENTON ORGANISMO JUDICIAL HUEHUETENANGO 1 CALLE B 5-34 ZONA 8 SAN ANTONIO HUISTA CANTON CENTRAL EDIFICIO MUNICIPAL, SAN ANTONIO HUISTA SAN IDELFONSO IXTAHUACAN CALLE PRINCIPAL, CONTIGUO A LA MUNICIPALIDAD DE SAN IDELFONSO IXTAHUACAN SAN MARCOS HUISTA ALDEA SAN MARCOS HUISTA, FRENTE AL PARQUE CENTRAL SAN MATEO IXTATAN CANTON CENTRO, EDIFICIO MUNICIPAL SAN MIGUEL ACATANSAN MIGUEL ACATAN SAN PEDRO NECTAPRIMER NIVEL, EDIFICIO MUNICIPAL SANTA ANA HUISTA CANTON SAN JOSE, SANTA ANA HUISTA SANTA CRUZ BARILLAS3A. AVENIDA 2-28, ZONA 1, BARILLAS SANTA EULALIACANTON CENTRAL, SANTA EULALIA SOLOMA7MA. AVENIDA 7-22 ZONA5 OLOMA ZONA 14 CALLE Y 4 AVENIDA ZONA 1 TERMINAL HUEHUETENANGO 9A. CALLE Y 8A. AVENIDA A CALZADA KAIBIL ZONA 5 TODOS SANTOS HUEHUETENANGOEDIFICIO MUNICIPAL TODOS SANTOS CUCHUMATAN IZABAL ADUANA PUERTO BARRIOS 9A CALLE Y 1ERA AVE LAS CHAMPAS PUERTO BARRIOS ADUANA SANTO TOMAS DE CASTILLAADUANA SANTO TOMAS DE CASTILLA EL ESTOR 5TA. AVENIDA 2-65 ZONA 1 LIVINGSTON CALLE PRINCIPAL 2DO. NIVEL EDIFICIO MUNICIPAL LOS AMATES CALLE 15 DE SEPTIEMBRE, LOS AMATES MORALESCALLE PRINCIPAL, BARRIO MICHAL PUERTO BARRIOS9A. CALLE ENTRE 7A. Y 8A. AVENIDA RIO DULCECALLE PRINCIPAL ALDEA FRONTERAS, RIO DULCE SANTO TOMAS DE CASTILLA CALLE PRINCIPAL, FRENTE A BARRIO EL PUEBLITO, MUNICIPIO DE PTO. BARRIOS SIMON BOLIVAR MORALESAVENIDA SIMON BOLIVAR JALAPAAUTOBANCO JALAPA 2A. CALLE 1-52 ZONA 1, BARRIO LA ESPERANZA, JALAPA JALAPA AVENIDA CHIPILAPA A 0-33 ZONA 2 MATAQUESCUINTLA 1ERA. CALLLE 2-07 ZONA 02 FRENTE AL PARQUE CANTON CALVARIO MONJAS A LA PAR DE LA COOPERATIVA GUAYACAN; A UNA CUADRA DEL PARQUE SAN CARLOS ALZATATE EDIFICIO MUNICIPAL BARRIO CAMELIAS SAN LUIS JILOTEPEQUE BARRIO EL CENTRO, SAN LUIS JILOTEPEQUE SAN MANUEL CHAPARRON EDIFICIO MUNICIPAL 1ER. NIVEL, SAN MANUEL CHAPARRON SAN PEDRO PINULA EDIFICIO MUNICIPAL, MUNICIPIO DE SAN PEDRO PINULA SAT - JALAPA 6 AV. 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