Monday , November 30 2020

Bancolombia's net profit grew 20% compared to 2017



Bancolombia reported yesterday, through a publication in the Financial Superintendence of Colombia, that its net profit closed at 543,219 million pesos for the third quarter of 2018, representing 20% ​​growth compared to the same period last year when it reached 450.806 million pesos.

In that sense, the entity president, JCarlos Mora said, noted in a press release that this was "the result of positive behavior, which began to show a country with greater digital adoption and financial inclusion."

On the other hand, the agency achieved a 0.6% increase in net interest income compared to the third quarter of 2017, after reaching 2.57 trillion pesos.

These entities grew 10% in private clients and 15% in SMEs and thus managed to get 50% of their users to have their digital channels active, making 75% of monetary transactions through this facility (see Report).

Positive behavior of digital transactions is added to positive cost control figures. The organization exceeded the 1.2% reduction target and achieved savings in 2% operating costs.

In terms of the gross consolidation portfolio, the report stated that the entity had a growth of 4.0% compared to the third quarter of last year and only 0.9% at the end of September.

According to the entity, annual growth reflects moderate demand for credit in Colombia. The peso portfolio grew 5.8% in connection with the third quarter of 2017. Finally, assets reached 206.6 billion pesos, up 1.3% compared to 2017.


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