Banking in Colombia Strategic Priorities and Investments Analysis¶
Strategic Priorities¶
Based on the analysis of the key players and the prevailing challenges in the Colombian banking sector during 2024 and early 2025, several strategic priorities can be identified for major industry participants. A primary focus is Digital Transformation and Innovation. Banks are actively strengthening their digital platforms and offerings to enhance customer experience, improve operational efficiency, and compete with the growing influence of Fintech companies. [Context] This includes investing in mobile banking, online services, and digital payment solutions. [Context, Context] Davivienda's emphasis on its Daviplata platform and digital customer base exemplifies this priority. [Context] BBVA Colombia has also been focusing on its digital offerings. [Context]
Another critical strategic priority is Strengthening Core Business and Improving Profitability. In a challenging macroeconomic environment marked by deteriorating credit quality and slow credit growth, banks are prioritizing sound risk management, particularly in their lending portfolios, and seeking to recover or maintain profitability. [Context, Context] While some banks reported losses in 2024, others like Bancolombia and Grupo Aval demonstrated strong performance or recovery, indicating a focus on asset quality and efficient operations within their core Captación and Colocación activities. [Context, Context]
Expansion and Consolidation of Market Position is also a key strategic theme. Major groups are undertaking strategic moves to grow their presence and enhance their service offerings. Grupo Aval's integration of acquired brokerage and fiduciaria businesses to create a more comprehensive financial services entity highlights this. [Context] Davivienda's reported consideration of acquiring Scotiabank's retail assets in Colombia and Central America further underscores the drive for market expansion and consolidation. [Context]
Furthermore, Focus on Specific Niches and Specialized Services is evident. Banks are leveraging their capabilities in areas like sustainable finance (Davivienda's growing portfolio) or focusing on particular customer segments (Banco Popular's focus on the senior segment and legal entities, Banco Agrario's role in the agricultural sector) to differentiate and capture specific market opportunities within the Servicios Financieros Especializados and Colocación steps. [Context, Context, Context]
Finally, Enhancing Customer Experience is highlighted as a top challenge and therefore a key strategic priority for 2025. [Context] This involves reengineering service models and integrating channels to meet evolving customer expectations for seamless and personalized interactions across the value chain. [Context]
Recent and Planned Investments¶
Based on the provided information, the following table outlines recent and planned investments by major players in the Colombian banking sector:
| Player Name | Investment Type/Area | Details | Timeline/Status | Alignment with Strategic Priorities |
|---|---|---|---|---|
| Davivienda | Digital Transformation/Fintech Acquisition | Acquired EPAYCO.COM S.A.S. to strengthen payments ecosystem. | Late 2024 | Aligns with Digital Transformation and Innovation, enhancing capabilities in digital payments (Servicios Financieros Especializados). [Context] |
| Davivienda | Potential Acquisition | Reportedly considering acquiring Scotiabank's retail business assets in Colombia and Central America. | Discussion/Planned (Reported) | Aligns with Expansion and Consolidation of Market Position, potentially growing customer base and loan portfolio (Captación and Colocación). [Context] |
| Davivienda | Sustainable Finance | Growth of sustainable loan portfolio, reaching COP 24.7 trillion. | By end of 2024 | Aligns with Focus on Specific Niches and Specialized Services, particularly in sustainable finance. [Context] |
| Grupo Aval | Acquisition/Consolidation | Acquired stakes in Casa de Bolsa and Fiduciaria Corficolombiana, renamed them Aval Casa de Bolsa and Aval Fiduciaria. | Recent | Aligns with Expansion and Consolidation of Market Position, enhancing comprehensive financial services (Servicios Financieros Especializados). [Context] |
| BBVA Colombia | Sustainable Finance/Bond Issuance | Issued a biodiversity bond. | May 2024 | Aligns with potential strategic focus on sustainable finance or tapping into specific investment markets (Gestión de Tesorería, Servicios Financieros Especializados). [Context] |
| Major Banks (General) | Digital Infrastructure & Platforms | Ongoing investment in digital channels, cybersecurity, and technology upgrades. | Ongoing | Aligns with Digital Transformation and Innovation, Enhancing Customer Experience. [Context, Context] |
| Major Banks (General) | Customer Service Technology | Investment in technology and processes for customer service reengineering. | Planned for 2025 | Aligns with Enhancing Customer Experience. [Context] |
| Government/Banks | Financial Inclusion/Credit Access | Initiative to promote 1 million credit operations for those without formal access. | Ongoing | Aligns with addressing Financial Inclusion Gaps, potentially involves bank investment and participation in targeted Colocación programs. [Context] |
References¶
- Asobancaria. (n.d.). Normatividad Decretos, Resoluciones y Leyes que rigen el sector. Retrieved from https://www.asobancaria.com/informacion-corporativa/marco-juridico-del-sector/normatividad/
- Banco de la República. (2025, April 23). Riesgo de crédito - Informe especial de Estabilidad Financiera - Abril 2025. Retrieved from https://www.banrep.gov.co/es/riesgo-credito-informe-especial-estabilidad-financiera-abril-2025
- BBVA. (2025, January 30). Earnings: BBVA reports net profit of €10.1 billion in 2024 (+25 percent). Retrieved from https://www.bbva.com/en/new-press-release/earnings-bbva-reports-net-profit-of-e10-1-billion-in-2024-25-percent/
- BBVA Colombia. (2024, September 18). Quarterly Periodic Report January - September 2024. Retrieved from https://file.accionistas.bbva.com/informes-corporativos/estados-financieros/colombia/bbva-colombia-quarterly-periodic-report-september-2024.pdf
- Deloitte Colombia. (n.d.). Tendencias sector bancario experiencia del usuario completamente digital | Deloitte Colombia. Retrieved from https://www2.deloitte.com/co/es/pages/financial-services/articles/tendencias-sector-bancario-experiencia-usuario-completamente-digital.html
- Forbes Colombia. (2024, June 11). En 2024 la banca sufre por morosos y menor solicitud de préstamos. Retrieved from https://forbes.co/2024/06/11/negocios/en-2024-la-banca-sufre-por-morosos-y-menor-solicitud-de-prestamos
- Foro Económico Mundial. (2024, August 13). La estrategia digital de Colombia contribuye a la inclusión financiera | Foro Económico Mundial. Retrieved from https://es.weforum.org/agenda/2024/08/estrategia-digital-colombia-inclusion-financiera/
- Global Finance Magazine. (2024, December 5). Davivienda Considers Assets Of Scotiabank In Colombia. Retrieved from https://www.gfmag.com/daily-news/december-2024/davivienda-considers-assets-of-scotiabank-in-colombia
- Grupo Aval. (2025, February 18). Report of 4Q2024 Consolidated results. Retrieved from https://www.grupoaval.com/wps/wcm/connect/grupo-aval/4f130b68-c125-41a3-bf45-f33cf31382d1/4Q24+Consolidated+Results.pdf?MOD=AJPERES&CVID=pX5d8L3
- Infobae. (2024, May 21). Los colombianos están ahogados en deudas, un informe indicó que aumentaron los morosos. Retrieved from https://www.infobae.com/colombia/2024/05/21/los-colombianos-estan-ahogados-en-deudas-un-informe-indico-que-aumentaron-los-morosos/
- Itsjack Blog. (2024, April 16). 5 Largest Banks in Colombia with Significant Assets. Retrieved from https://itsjack.com/largest-banks-in-colombia/
- Latinpyme. (2025, February 4). Reingeniería del Servicio al Cliente: El Reto Top para el Sector Bancario en 2025. Retrieved from https://latipyme.com/reingenieria-del-servicio-al-cliente-el-reto-top-para-el-sector-bancario-en-2025/
- Minhacienda. (2024, August 16). Gobierno promoverá colocación de un millón de operaciones de crédito para colombianos que no tienen acceso a financiación formal. Retrieved from https://www.minhacienda.gov.co/webcenter/portal/Prensa/Noticia?id=457
- Scotiabank. (2024, December 31). Investor Presentation. Retrieved from https://www.scotiabank.com/content/dam/hc/about-us/ir/documents/presentations/bns-investor-presentation-q4-2024.pdf
- Superintendencia Financiera de Colombia. (n.d.). Informe Establecimientos de Crédito corte enero 2025. Retrieved from https://www.superfinanciera.gov.co/inicio/analisis-y-estudios/sector-financiero/informe-establecimientos-de-credito-corte-enero-2025-10208323
- Superintendencia Financiera de Colombia. (2025, February 6). Superintendente presenta los principales retos del sistema financiero para 2025. Retrieved from https://www.superfinanciera.gov.co/inicio/sala-de-prensa/comunicados-de-prensa/superintendente-presenta-los-principales-retos-del-sistema-financiero-para-2025-10207982
- The Rio Times. (2025, February 20). Colombia's Banking Leaders Shine in Tough 2024. Retrieved from https://theriotimes.com/2025/02/20/colombias-banking-leaders-shine-in-tough-2024/