November 8, 2017 |
After 2017 draws to a close, Banco de Bogotá will have finished a busy year, with growth in its loan portfolio and deposits.
According to the latest financial results, Banco de Bogotá recorded 482 billion Colombian pesos ($160 million) in net income in the second quarter this year. The bank’s closest rival, Banco Davivienda, reported 324 billion pesos in net income in June.
The country’s second-largest bank by total assets, Banco de Bogotá, part of the local conglomerate Grupo Aval, increased assets to 146 trillion pesos by the end of June this year from 133 trillion pesos at the same time last year.
The bank attributes the rise to growth in its loan portfolio, which rose 9.4% year-on-yea
Colombian lender pulls well ahead of its local rivals when it comes to profitability and closes the gap on the country’s largest bank in terms of assets.