INVESTMENTS, RESULTS AND SOLVENCY

INVESTMENTS 

Stock-market financial products saw a 43% increase compared to the previous year. 

Throughout 2017, we followed our investment policy. Given the volatile macroeconomic environment, GNP’s investment portfolio performed defensively. We continued to hedge term obligations (82% in long term and 18% in short term), currency (59% in dollars and 41% in pesos) and a low appetite for risk with a portfolio of government (84%) and corporate (16%) instruments with a high investment rating. 

Trade in financial products rose to $6.808 billion pesos, surpassing the $2.033 billion pesos (43%) obtained in 2016, a portfolio increase of 39% over the previous year. 

We maintained ISO 9001:20015 certification, as well as the operation of securities loans. 

RESULTS AND SOLVENCY 

Profitability at year end was 17.6%. Our solvency margin was $4.402 billion pesos, compared to $3.676 billion pesos the previous year, a nominal increase of 14.7%.