Aug 13, 2026 earnings call — High quarterly profit and tech transformation
Attributed net income reached COP 577 billion, up 17% and the highest quarterly result since March 2022.
Revenue $1.6B (est $1.5B) · EPS $0.13 (est $0.12)
Key quotes
"As Maria has already outlined it, technology innovation, data and artificial intelligence are key enablers of our long-term strategy."
"Loan growth continued to accelerate during the quarter, with both loans and deposits increasing 2.1% over the quarter to COP 198 million and deposits COP 222 million respectively."
"The transaction has more than 250,000 retail banking customers and reinforces Banco de Bogota's strategy to grow and strengthen its retail banking franchise, especially in the affluent segment."
Analyst Q&A 3
tax changes and affiliates' profit
Q (Brian Flores · Citibank): The analyst asked what to expect for the 2027 tax rate and the chance banks face higher taxes. He also asked whether Corficolombiana and Porvenir could add profit upside under the new government.
A: Management said they hope there will be no new national taxes but are worried about a Bogotá local tax (ICA) that could rise 30%. They also said Corficolombiana will start stadium construction soon and that they are positive the new administration can help Corficolombiana and Porvenir, with pension reform clarity and market performance important for Porvenir.
"Regarding Corficolombiana and Porvenir, we basically grow based on the country's growth." — Diego Saravia (CFO)
ROE outlook and asset quality
Q (Yuri Fernandes · JP Morgan): The analyst asked why the ROE guidance of 9.25% is below the first-half run rate and what headwinds drive that. He also asked about asset quality after a rise in 30-day delinquencies and risks from the earthquake and El Niño.
A: Management said they are maintaining a 9.25% ROE guidance and are being cautious because first-half fixed-income gains and derivatives offsets were extraordinary and are not being assumed for the second half. They built in around 2% NIM on investments, warned of possible further Central Bank rate moves and earthquake effects, and said asset quality is not a concern overall though short spikes and pressure in FX-sensitive sectors are possible; Stage 2 and 3 trends look fine.
"Part of that, it has an offset in derivatives because it's part of our trading with our customers and also our risk positions in our portfolios." — Diego Saravia (CFO)
margins and consumer loan growth
Q (Daniel Mora · Credicorp Capital): First, the analyst asked if margins will face pressure with trading gains unsustainable and interest expenses rising. Second, he asked why consumer loan growth slowed and whether they can regain market share, including the impact of the Itaú transaction.
A: Management said they are cautious for the rest of the year but see medium- and long-term upside once the rate cycle ends; they noted without derivatives NIM would be 4.6% and NIM investment 5.5%, and they are modeling 2% NIM for investments. On consumer loans, they said they were overweight payroll lending and underweight cards and personal loans, so as cards and personal loans grow faster they are reducing payroll share to lower rate sensitivity and improve NIM, and the Itaú deal should speed that shift by a couple of years.
"We are being able to reprice our loans." — Diego Saravia (CFO)