FICOHSA Denies Links with DESA or the Agua Zarca Project


Recent inaccurate public statements have been reported in the official Cuban press and elsewhere, that falsely suggest that FICOHSA or its owners have a financial interest in the Agua Zarca project or DESA, the developer of the project.

It is a matter of public record that neither FICOHSA nor its owners, the Atala Faraj family, have ever had any financial interest in either DESA or the Agua Zarca project. The position of the bank and its owners was that the potential political/social risk associated with the project placed it outside the credit policies of FICOHSA and that as a matter of compliance with internal policies and international best practices, the bank could not expose itself to any potential loss or gain regarding the Agua Zarca project. That position by FICOHSA and its owners was never modified.

FICOHSA and its owners have repeatedly demanded and received corrections for false claims made in that regard. FICOHSA and its owners have also taken legal action in various instances when false statements of that kind have been made maliciously and have not been corrected. Recently, one of the owners of FICOHSA won a legal judgment for defamation in this regard.

About Grupo Financiero Ficohsa

Grupo Financiero Ficohsa (GFF) is a regional financial group of Honduran capital, headquartered in Panama. It is comprised by nine companies carrying the same brand name: Banco Ficohsa Guatemala, Banco Ficohsa Honduras, Banco Ficohsa Nicaragua and Banco Ficohsa Panam¡; Ficohsa Seguros, Ficohsa Casa de Bolsa, Ficohsa Tarjetas de Crdito, Ficohsa Pensiones and Ficohsa Casa de Cambio. GFF is the largest financial group in Honduras and Ficohsa is one of the most important brands in the Central American region. It has more than 6,600 employees and has been recognized by Great Place to Work, and as a leader in Corporate Social Responsibility, both locally and internationally, by institutions like “FUNDAHRSE” y “CEMEFI. For more information, visit —Twitter: @ficohsa — Facebook:—Youtube: — Linkedin:

Rodrigo MembreƱo
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