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Industry Research Report on the Banking in Colombia.

Value Chain outline

The banking industry value chain in Colombia is centered around the fundamental process of financial intermediation, connecting those with surplus funds (savers) to those who require funds (borrowers). This is facilitated through several interconnected steps and specialized services.

Identification and description of each step in the value chain

The primary steps constituting the banking value chain in Colombia are:

  1. Captación (Funding/Deposit Taking): This initial and crucial step involves the bank attracting and gathering financial resources from the public and other entities. These resources form the essential pool of capital that the bank utilizes for its lending, investment, and operational activities.
  2. Colocación (Lending/Credit Granting): In this core banking function, the accumulated funds from the captación phase are distributed in the form of various credit products to individuals, businesses, and governmental entities. This process of channeling funds into the economy is a primary driver of bank revenue.
  3. Gestión de Tesorería (Treasury Management): This internal but vital step focuses on the sophisticated management of the bank's financial assets and liabilities to ensure sufficient liquidity, manage interest rate fluctuations, and handle foreign exchange exposures. It involves strategic investment decisions and participation in financial markets.
  4. Servicios Financieros Especializados: This encompasses a diverse range of financial activities that go beyond the traditional scope of deposit-taking and lending. These services cater to specific customer needs and market demands, contributing to the bank's overall profitability and market position.

Identification and description of segments for each step of the value chain.

1. Captación (Funding/Deposit Taking):

  • Segments:
    • Retail Deposits: This segment focuses on attracting funds from individual customers. This is a large and crucial source of stable funding for banks.
    • Corporate/Business Deposits: This involves gathering deposits from companies of various sizes, from small businesses to large corporations. These deposits often have different characteristics and volumes compared to retail deposits.
    • Institutional Deposits: This segment deals with funds from large organizations such as other financial institutions, government bodies, pension funds, and mutual funds. These are typically high-volume, often short-term, deposits.
    • Market Funding: This refers to the bank obtaining funds directly from financial markets through the issuance of debt instruments like bonds or through interbank borrowing.
  • Types of Players:
    • Commercial Banks (Establecimientos Bancarios): These are the dominant players in the captación segment, authorized to accept a wide range of deposits.
    • Savings and Housing Corporations (Corporaciones de Ahorro y Vivienda): Historically significant in attracting savings, most have transitioned into commercial banks, but the regulatory framework still recognizes their function.
    • Finance Companies (Compañías de Financiamiento): These entities primarily raise funds through term deposits to finance credit operations, often focused on consumer goods and services.
    • Financial Corporations (Corporaciones Financieras): Their main function is to raise term resources through deposits and debt instruments to promote and finance companies in the real sector of the economy.
    • Specialized Electronic Deposit and Payment Companies (SEDPEs): A newer category focused on offering simplified deposit and electronic payment services, often targeting financial inclusion.
  • Detailed description of the main activities within each segment:
    • Retail Deposits: Offering and managing various deposit products such as checking accounts (cuenta corriente bancaria), savings accounts (cuenta de ahorros), and time deposits (Certificados de Depósito a Término - CDT and CDAT). Activities include account opening, transaction processing, interest calculation and payment, and customer service through various channels like branches, ATMs, online banking, and mobile apps.
    • Corporate/Business Deposits: Providing tailored deposit solutions and cash management services, including current accounts, savings accounts, and fixed-term deposits, often integrated with payment and collection services to manage business liquidity efficiently.
    • Institutional Deposits: Managing large-scale deposits from institutional clients, often involving negotiated terms and specialized services like liquidity management and short-term investments.
    • Market Funding: Issuing debt securities (e.g., bonds, commercial paper) to raise capital from institutional investors and the public. Engaging in short-term borrowing and lending in the interbank market and using repurchase agreements (repos) to manage short-term liquidity.
  • List examples of key players with detailed profiles:
    • Bancolombia S.A.: As the largest bank, it has a massive deposit base across all segments, offering a full range of deposit products to individuals and businesses through its extensive network and digital platforms. [Context]
    • Grupo Aval Acciones y Valores S.A.: Through its significant subsidiary banks (Banco de Bogota, Banco Popular, Banco de Occidente, Banco AV Villas), Grupo Aval commands a substantial portion of the deposit market, serving diverse customer needs. [Context]
    • Banco Davivienda S.A.: A major player in deposit-taking, particularly strong in the retail segment with a large customer base utilizing various account types and its popular digital wallet, Daviplata. [Context]

2. Colocación (Lending/Credit Granting):

  • Segments:
    • Retail Lending: Providing credit facilities to individual consumers for personal use.
    • Commercial Lending: Offering loans and credit lines to businesses, ranging from small and medium-sized enterprises (SMEs) to large corporations, to finance their operations, investments, and growth.
    • Mortgage Lending: Specializing in providing long-term loans specifically for the purchase, construction, or renovation of residential and commercial properties.
    • Microcredit: Extending small-value loans to microenterprises and individuals with limited or no access to traditional banking credit, often for productive activities in the popular economy.
  • Types of Players:
    • Commercial Banks (Establecimientos Bancarios): The principal providers of credit across all segments.
    • Finance Companies (Compañías de Financiamiento): Primarily focused on consumer and commercial lending, often for specific purposes like vehicle or equipment financing.
    • Financial Corporations (Corporaciones Financieras): Provide medium- and long-term credit to support the creation, expansion, and development of businesses.
    • Development Banks: State-owned or mixed-ownership entities focused on providing credit to specific sectors or for public policy objectives (e.g., Bancóldex for business development, Finagro for the agricultural sector).
    • Cooperative Financial Institutions (Cooperativas Financieras): Offer financial services, including credit, to their members.
  • Detailed description of the main activities within each segment:
    • Retail Lending: Evaluating individual creditworthiness, originating and disbursing personal loans, auto loans, student loans, and managing credit card accounts. This includes setting interest rates, managing repayment schedules, and handling collections.
    • Commercial Lending: Assessing the financial health and credit risk of businesses, structuring various types of loans (e.g., working capital loans, term loans, trade finance), negotiating terms and conditions, and managing ongoing credit relationships with corporate clients.
    • Mortgage Lending: Evaluating borrower eligibility and property value, originating mortgage loans with different terms and interest rate structures, managing loan servicing, and adhering to regulatory requirements regarding loan-to-value ratios.
    • Microcredit: Assessing the viability of small businesses and the repayment capacity of individuals in the popular economy, providing small loans with flexible terms, and often offering financial education and support.
  • List examples of key players with detailed profiles:
    • Bancolombia S.A.: Offers a wide array of lending products covering all segments, from individual consumer loans and mortgages to financing for large corporations and microenterprises. [Context]
    • Grupo Aval Acciones y Valores S.A.: A major force in the credit market through its subsidiary banks, providing substantial volumes of commercial, consumer, and mortgage credit. [Context]
    • Banco Davivienda S.A.: Active in consumer, commercial, and mortgage lending, utilizing both traditional and digital channels to reach customers seeking credit. [Context]
    • Banco de Bogotá S.A.: Holds a significant portion of the total loan portfolio in Colombia, serving various client segments with credit products. [Context]
    • Banco Agrario de Colombia: Dedicated to providing credit and financial services to the agricultural sector, playing a key role in financing rural economic activities. [Context]

3. Gestión de Tesorería (Treasury Management):

  • Segments:
    • Liquidity Management: The process of ensuring the bank has sufficient readily available funds to meet its short-term obligations, such as deposit withdrawals and loan disbursements.
    • Market Operations: Engaging in transactions in various financial markets to manage the bank's liquidity, invest surplus funds, and manage market risks.
    • Asset and Liability Management (ALM): A strategic function that involves managing the size, structure, and risk characteristics of the bank's balance sheet to maximize profitability while controlling interest rate risk, liquidity risk, and foreign exchange risk.
  • Types of Players:
    • Commercial Banks (Establecimientos Bancarios): All commercial banks have treasury departments that manage their own liquidity and market risks.
    • Financial Corporations (Corporaciones Financieras): Also engage in treasury activities related to managing their funding and investment operations.
    • The Central Bank (Banco de la República): Plays a central role in the money and foreign exchange markets through its open market operations and by setting monetary policy, influencing liquidity and interest rates for all financial institutions.
  • Detailed description of the main activities within each segment:
    • Liquidity Management: Monitoring cash inflows and outflows, managing reserve requirements set by the central bank, borrowing or lending in the interbank market, and investing in short-term, highly liquid securities.
    • Market Operations: Trading in government securities (like TES - Títulos de Tesorería), engaging in foreign exchange spot and forward transactions (including NDFs - Non-Deliverable Forwards), using interest rate swaps and other derivatives to hedge risks, and participating in money market operations.
    • Asset and Liability Management (ALM): Analyzing the sensitivity of the bank's net interest income and economic value of equity to changes in interest rates, managing the duration gap between assets and liabilities, and developing strategies to mitigate interest rate and liquidity risks.
  • List examples of key players with detailed profiles:
    • Bancolombia S.A.: Offers treasury management services to its corporate clients and has a sophisticated internal treasury function to manage its own financial risks and liquidity.
    • Grupo Aval Acciones y Valores S.A.: Oversees the treasury operations of its subsidiary banks, managing liquidity and market risk at a group level. [Context]
    • Banco de la República: The central bank is a key entity in treasury operations, managing the country's monetary policy, issuing government debt (TES) on behalf of the Ministry of Finance, and intervening in the foreign exchange market.

4. Servicios Financieros Especializados:

  • Segments:
    • Fiduciary Services (Negocios Fiduciarios): Providing services related to the administration and management of assets and resources under fiduciary contracts, acting on behalf of a trustee for the benefit of a beneficiary.
    • Investment Banking: Offering specialized financial services to corporations, governments, and institutions, including underwriting securities, advising on mergers and acquisitions (M&A), restructurings, and project finance.
    • Wealth Management: Providing comprehensive financial advisory, investment planning, and portfolio management services to high-net-worth individuals and families.
    • Brokerage Services: Facilitating the buying and selling of securities (stocks, bonds, etc.) on behalf of clients through stock exchanges and other trading platforms.
    • Pension Fund Management: Administering mandatory and voluntary pension funds, managing investments to ensure future retirement income for contributors.
    • Leasing and Factoring: Providing alternative financing solutions; leasing involves renting assets for a specified period, while factoring involves purchasing a company's accounts receivable at a discount.
    • Digital Banking/Fintech: Delivering financial products and services through digital channels like mobile apps and online platforms, often involving innovative technology for payments, lending, and other financial processes.
  • Types of Players:
    • Fiduciary Societies (Sociedades Fiduciarias): Entities specifically authorized to conduct fiduciary business.
    • Commercial Banks: Many large commercial banks have specialized divisions or subsidiary companies that offer investment banking, wealth management, brokerage, leasing, and factoring services.
    • Financial Corporations (Corporaciones Financieras): Can also engage in investment banking activities.
    • Brokerage Houses (Sociedades Comisionistas de Bolsa): Members of the stock exchange that execute trades for clients.
    • Pension Fund Administrators (Sociedades Administradoras de Fondos de Pensiones y de Cesantías - AFP): Manage pension and severance funds.
    • Leasing and Factoring Companies: Specialized companies providing these specific financing services.
    • Fintech Companies: Technology-driven companies offering a range of financial services, often specializing in areas like payments, lending, or wealth management through digital platforms.
  • Detailed description of the main activities within each segment:
    • Fiduciary Services: Managing various types of trusts (fiducia mercantil) and fiduciary mandates (encargo fiduciario), which can include administering investment portfolios (fiducia de inversión), managing real estate projects (fiducia inmobiliaria), acting as collateral agents (fiducia en garantía), and administering public resources or social security funds.
    • Investment Banking: Advising companies on capital structure, raising equity and debt financing through public offerings or private placements, facilitating mergers, acquisitions, and divestitures, and providing strategic financial advice.
    • Wealth Management: Developing personalized investment strategies based on client goals and risk tolerance, managing investment portfolios, providing retirement planning, tax planning, and estate planning services.
    • Brokerage Services: Executing buy and sell orders for stocks, bonds, and other securities on behalf of clients, providing market research and investment recommendations.
    • Pension Fund Management: Collecting contributions from employers and employees, investing these funds in a diversified portfolio of assets to generate returns, and processing pension payments to retirees.
    • Leasing and Factoring: In leasing, purchasing assets (like machinery or vehicles) and renting them to businesses. In factoring, buying a company's accounts receivable at a discount to provide immediate working capital.
    • Digital Banking/Fintech: Developing and maintaining mobile banking applications, online banking platforms, and digital wallets; offering online account opening, digital payments (including person-to-person transfers and bill payments), online loan applications, and other financial services accessible via digital channels.
  • List examples of key players with detailed profiles:
    • Sociedades Fiduciarias: While specific individual company profiles were not in depth in the search results, they are a distinct category of player. Examples include Fiduciaria Bancolombia (part of Bancolombia).
    • Bancolombia S.A.: Through its specialized subsidiaries like Fiduciaria Bancolombia and Valores Bancolombia (brokerage and investment banking), and its wealth management division, it is a significant player in this segment.
    • Grupo Aval Acciones y Valores S.A.: Involved through Corficolombiana (merchant banking and investment) and Porvenir (pension fund management). [Context]
    • Banco Davivienda S.A.: A major player in digital banking with its Daviplata platform. [Context] Also offers investment products.

Show estimates of volumes and sizes of each step in the value chain.

Providing precise, distinct volume and size figures for each specific step of the value chain across the entire Colombian banking industry for 2024-2025, based solely on the provided sources, is challenging due to data aggregation in the results. However, we can provide relevant figures that indicate the scale of activities within these steps:

  • Colocación (Lending):
    • Total Credit Portfolio (Industry-wide): As of March 2024, the total credit portfolio in Colombia reached COP 686 trillion. ANIF estimated the portfolio would reach COP 679 trillion by the end of 2024. Projections for 2025 anticipate a growth to COP 718 trillion, representing a 5.8% annual increase.
    • Growth Trends: The credit portfolio experienced negative real annual growth since mid-2022, but showed signs of recovery and acceleration between July 2024 and January 2025, though still negative in real terms as of February 2025.
    • Composition of Commercial Banking Credit (as of November 30, 2024): Commercial loans represented 46%, consumer loans 30%, mortgage loans 16%, and microcredit 8% of the total credit portfolio.
  • Captación (Deposits):
    • Grupo Aval Banks (Consolidated Deposits): Reached 201 trillion pesos as of November 2024. [Context] This provides a partial view of the significant volume of deposits held by a major banking group. Comprehensive industry-wide deposit figures by segment for 2024-2025 were not explicitly detailed in the sources.
  • Gestión de Tesorería and Servicios Financieros Especializados:
    • Specific volume and size data for treasury operations (like the value of securities traded or foreign exchange volumes) and most specialized financial services (like the total value of assets under fiduciary management or the size of the wealth management market) were not explicitly provided in the search results for 2024-2025.
    • Daviplata (Digital Banking): Reached 18.5 million customers by the end of 2024, with an average balance of low-amount deposits of COP 952 billion. [Context] This indicates the significant scale of digital deposit and transaction activity through this platform.
    • Sustainable Loan Portfolio (Davivienda): Reached COP 24.7 trillion by the end of 2024. [Context] This highlights the growing volume in specific niche areas.

The provided data on the total credit portfolio and the asset size of major banks offer the most direct indication of the overall scale of the banking industry in Colombia in terms of financial volumes.

Value Chain Summary Table

Value Chain Step Main Activities Segments Types of Players Examples of Main Players Estimated Volumes/Sizes (2024-2025)
Captación (Funding) Attracting funds through deposits (savings, checking, time deposits) and market instruments. Retail Deposits, Corporate/Business Deposits, Institutional Deposits, Market Funding. Commercial Banks, Savings & Housing Corporations (historically), Finance Companies, Financial Corporations, SEDPEs. Bancolombia, Grupo Aval (Banco de Bogota, Banco Popular, Banco de Occidente, Banco AV Villas), Davivienda. Consolidated deposits of Aval Banks reached COP 201 trillion (Nov 2024). Overall volumes are substantial but not fully detailed by segment in sources. [Context]
Colocación (Lending) Extending credit through various loan products (personal, commercial, mortgage, microcredit). Retail Lending, Commercial Lending, Mortgage Lending, Microcredit. Commercial Banks, Finance Companies, Financial Corporations, Development Banks, Cooperative Financial Institutions. Bancolombia, Grupo Aval (Banco de Bogota, Banco Popular, Banco de Occidente, Banco AV Villas), Davivienda, Banco de Bogotá, BBVA Colombia, Banco Agrario de Colombia. Total Credit Portfolio: COP 686 trillion (Mar 2024), estimated COP 679 trillion (end 2024), projected COP 718 trillion (2025). Composition (Nov 2024): Commercial 46%, Consumer 30%, Mortgage 16%, Microcredit 8%.
Gestión de Tesorería Managing liquidity, market operations (foreign exchange, money market, securities), Asset and Liability Management (ALM). Liquidity Management, Market Operations, Asset and Liability Management (ALM). Commercial Banks, Financial Corporations, Central Bank (Banco de la República). Bancolombia, Grupo Aval, Banco de la República. Specific volumes for treasury operations across the industry are not detailed in the provided sources for 2024-2025.
Servicios Financieros Especializados Managing trusts and mandates, investment banking, wealth management, brokerage, pension fund management, leasing, factoring, digital banking. Fiduciary Services, Investment Banking, Wealth Management, Brokerage Services, Pension Fund Management, Leasing and Factoring, Digital Banking. Fiduciary Societies, Commercial Banks (specialized divisions/subsidiaries), Financial Corporations, Brokerage Houses, Pension Fund Administrators, Leasing and Factoring Companies, Fintech Companies. Bancolombia (Fiduciaria Bancolombia, investment banking), Grupo Aval (Corficolombiana, Porvenir), Davivienda (Daviplata), Itaú Colombia. Volumes for specialized services vary widely by segment and player. Daviplata reached 18.5 million customers by end of 2024. [Context] Sustainable loan portfolio (Davivienda) reached COP 24.7 trillion (end 2024). [Context] Specific overall market sizes not detailed for 2024-2025 in sources.

Examples of Main Players

Based on the provided context and search results, here are profiles and relevant case studies for some of the most relevant players in the Colombian banking industry:

  • Bancolombia S.A.:

    • Profile: Holds the leading position in the Colombian banking sector by assets. With its headquarters in Medellin, Bancolombia serves a vast clientele exceeding 30 million across individual consumers, businesses, and large corporations. Its operations span Colombia and several other Latin American countries. The bank offers a comprehensive array of financial products and services, including various types of accounts, a diverse loan portfolio encompassing personal, auto, mortgage, and microcredits, as well as credit and debit cards, investment and offshore banking, brokerage services, pension and insurance products, and a strong digital banking presence. [Context]
    • Case Study Snippet: Bancolombia demonstrated strong financial performance in 2024, reporting profits of COP 5.5 trillion (equivalent to $1.34 billion). The bank's results showed growth in net income and maintained robust asset quality. Key to its success is its diverse customer base and extensive loan portfolio. [Context] Bancolombia's commitment to digital transformation has resulted in increased revenue generated through its digital channels. The bank also operates specialized subsidiaries like Fiduciaria Bancolombia, which is active in the fiduciary services market.

  • Grupo Aval Acciones y Valores S.A.:

    • Profile: This is a significant holding company in the Colombian financial sector, consolidating its influence through majority ownership and voting rights in several prominent banks: Banco de Bogota, Banco de Occidente, Banco Popular, and Banco AV Villas. Beyond traditional banking, Grupo Aval's operations include pension fund management through Porvenir and merchant banking via Corficolombiana. The group also has a notable international presence in Central America and Mexico through BAC Credomatic. [Context] Its structure makes it the largest and most influential financial group in the country. [Context]
    • Case Study Snippet: Grupo Aval's consolidated attributable net income for 2024 was reported at Ps 1,015.1 billion, marking a substantial increase compared to 2023. The group's subsidiary banks collectively increased their market share in gross loans in the period leading up to November 2024. Recent strategic moves include the acquisition of stakes in brokerage and fiduciaria firms, subsequently rebranded under the "Aval" name, to enhance its integrated financial service offerings. [Context]

  • Banco Davivienda S.A.:

    • Profile: Ranked as the third largest bank in Colombia by assets, Davivienda is also recognized as one of the country's most valuable brands. Established in 1972 and part of Grupo Bolívar, the bank serves a large customer base of approximately 24 million clients through a network of around 660 branches and 2,800 ATMs, complemented by strong digital capabilities. Davivienda's service offerings include consumer, commercial, and mortgage loans, a variety of investment and savings products, and transactional services. The bank has also expanded its operations into Panama, Costa Rica, El Salvador, and Honduras. [Context]
    • Case Study Snippet: Davivienda is actively pursuing a digital transformation strategy, with a significant portion of its customers categorized as digital users. Its digital platform, Daviplata, has achieved widespread adoption, reaching 18.5 million customers by the close of 2024 and facilitating low-amount deposits. [Context] The bank is also committed to sustainable finance, with a sustainable loan portfolio totaling COP 24.7 trillion by the end of 2024. Strategic acquisitions, such as EPAYCO.COM S.A.S. in late 2024, are aimed at strengthening its position in the payments ecosystem. [Context]

  • Banco de Bogotá S.A.:

    • Profile: As the second largest bank in Colombia by total assets and the oldest banking institution in the nation, Banco de Bogotá holds a significant place in the financial landscape. It operates as a key subsidiary of Grupo Aval Acciones y Valores and maintains a substantial presence both domestically and through subsidiaries in Panama and the Bahamas, as well as agencies in the United States. [Context]
    • Case Study Snippet: Banco de Bogotá saw growth in its assets and consolidated loan portfolio during 2023. While its results in the fourth quarter of 2024 were lower than the preceding quarter, and the bank has experienced a decline in earnings and revenues in recent years, it remains a critical component of Grupo Aval and a major participant in the Colombian banking market. [Context] The bank has received recognition as a top bank in Colombia. [Context]

  • Sociedades Fiduciarias:

    • Profile: These entities are specialized financial service companies in Colombia whose core business is the administration of assets and resources under the terms of a fiduciary contract. They act as fiduciaries, managing entrusted property or funds according to specific instructions provided by the fiduciante (settlor) for the benefit of a designated beneficiary. They can be independent or affiliated with larger financial groups.
    • Case Study Snippet: Fiduciary societies are integral to various financial and economic activities in Colombia. They manage investment trusts (fiducia de inversión) where funds are invested in securities, administration trusts (fiducia de administración) for managing assets or executing specific activities, real estate trusts (fiducia inmobiliaria) commonly used in construction projects for managing funds and assets, and guarantee trusts (fiducia en garantía) where assets are held to secure obligations. They also play a role in the administration of public resources and social security funds. While specific market share data for individual fiduciaries is not readily available in the provided sources, their collective activities represent a significant portion of the specialized financial services market, facilitating complex transactions and asset management for individuals, corporations, and the government. Fiduciaria Bancolombia, for instance, is a notable example tied to a major banking group.

Volumes and Sizes

Estimates of volumes and sizes within the Colombian banking industry for 2024 and projections for 2025, based on the available information:

  • Total Credit Portfolio:
    • As of March 2024, the aggregate credit portfolio across the Colombian financial system stood at COP 686 trillion.
    • An analysis by ANIF estimated that the total credit portfolio would reach approximately COP 679 trillion by the close of 2024.
    • Looking ahead to 2025, the credit portfolio is projected to grow to COP 718 trillion, indicating an anticipated annual increase of 5.8%.
    • While experiencing negative real annual growth since mid-2022, the total credit portfolio showed signs of recovery with accelerated growth between July 2024 and January 2025, although it remained negative in real terms as of February 2025.
  • Composition of Commercial Banking Credit (as of November 30, 2024):
    • Commercial loans constituted 46% of the total credit portfolio. Within this, 22% was directed towards large corporations, 7% to SMEs, and 12% to the construction sector.
    • Consumer loans represented 30% of the portfolio.
    • Mortgage loans accounted for 16%.
    • Microcredit made up 8% of the total credit.
  • Asset Size of Major Banks:
    • As of June 30, 2024, key players reported substantial asset bases: Bancolombia S.A. with $49.248 billion, Banco Davivienda S.A. with $44.072 billion, and Banco de Bogotá S.A. with $34.948 billion. [Context] BBVA Colombia's consolidated assets were COP 105 trillion (approximately US$25 billion) as of the same date. [Context]
    • Grupo Aval's subsidiary banks collectively held aggregated unconsolidated gross loans of 199.4 trillion pesos and consolidated deposits of 201 trillion pesos as of November 2024. [Context]
  • Customer Reach:
    • Bancolombia serves a significant customer base exceeding 30 million. [Context]
    • Banco Davivienda serves approximately 24 million clients, with its digital platform Daviplata reaching 18.5 million customers by the end of 2024. [Context]
    • Itaú Colombia serves 347,000 customers. [Context]
  • Market Share in Gross Loans:
    • The banks under Grupo Aval collectively increased their market share in gross loans by 75 basis points over the 12 months leading up to November 2024. [Context]
    • Banco Popular's market share has remained close to 3.5%, although it experienced a slight decrease in 2023.
    • Itaú Colombia holds a gross loans market share of 3.0%. [Context]
  • Profitability:
    • The annual profits of Credit Establishments in Colombia reached their lowest point in April 2024 at COP 6.5 trillion. Subsequently, they began a gradual recovery, reaching COP 8.7 trillion by the end of 2024 and further increasing to COP 9.0 trillion in January 2025.
    • Reported profits for some major banks in 2024 included COP 5.5 trillion for Bancolombia and COP 1,015.1 billion (attributable net income) for Grupo Aval. [Context] Some banks, such as BBVA Colombia and Scotiabank Colpatria, reported losses in 2024. [Context] Other reported profits for 2024 include Banco de Occidente ($0.12 billion), Banco GNB Sudameris ($67 million), Banco Agrario de Colombia ($94 million), and Itaú Colombia ($17 million). [Context]

References