Firmly in the Black

Nov 7, 2003

Bancolombia became Colombia's largest bank when it was created in 1998 following the merger of BIC and the troubled Banco de Colombia. But Bancolombia has struggled to turn a decent profit for most of its short life, posting heavy losses during the recession of 1999-2000.

Bancolombia, led by Jorge Londoño, is now firmly in the black with first half net income of $49.5 million, 63% more in dollar terms as the...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial



LatinFinance Events

Poll

Are populist governments like Venezuela & Argentina turning pragmatic?

Vote    




“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management