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CONSOLIDATED STATEMENT OF INCOME - COP ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest on loans and financial leases      
Total interest income on loans and financial leases $ 32,613,551 $ 35,240,787 $ 24,783,493
Interest on debt instruments using the effective interest method 965,935 1,029,377 588,792
Total Interest on financial instruments using the effective interest method 33,579,486 36,270,164 25,372,285
Interest income on overnight and market funds 208,491 197,307 61,962
Interest and valuation on financial instruments 1,756,244 578,688 1,362,700
Total interest and valuation on financial instruments 35,544,221 37,046,159 26,796,947
Interest expenses (15,023,911) (16,668,295) (8,442,470)
Net interest margin and valuation on financial instruments before impairment on loans and financial leases, off balance sheet credit instruments and other financial instruments 20,520,310 20,377,864 18,354,477
Credit impairment charges on loans, advances and financial leases, net (5,413,652) (7,461,479) (3,721,353)
Credit impairment for other financial instruments (38,697) (107) (70,344)
Total credit impairment charges, net (5,452,349) (7,461,586) (3,791,697)
Net interest margin and valuation on financial instruments after impairment on loans and financial leases and off balance sheet credit instruments and other financial instruments 15,067,961 12,916,278 14,562,780
Fees and commissions income 7,688,838 7,080,878 6,370,526
Fees and commissions expenses (3,511,774) (3,097,280) (2,590,166)
Total fees and commissions, net 4,177,064 3,983,598 3,780,360
Other operating income 3,041,985 3,979,650 2,053,435
Dividends and net income on equity investments 104,573 210,185 235,854
Total operating income, net 22,391,583 21,089,711 20,632,429
Operating expenses      
Salaries and employee benefits (5,628,062) (5,350,234) (4,417,656)
Other administrative and general expenses (5,445,212) (5,033,944) (4,559,900)
Taxes other than income tax (1,442,511) (1,433,148) (929,512)
Impairment, depreciation and amortization (1,117,881) (1,124,859) (980,575)
Total operating expenses (13,633,666) (12,942,185) (10,887,643)
Profit before income tax 8,757,917 8,147,526 9,744,786
Income tax (2,392,336) (1,932,555) (2,748,421)
Net income 6,365,581 6,214,971 6,996,365
Net income attributable to equity holders of the Parent Company 6,267,744 6,116,936 6,783,490
Non-controlling interest $ 97,837 $ 98,035 $ 212,875
Basic earnings per share to common shareholders, stated in units of pesos $ 6,576 $ 6,420 $ 7,113
Diluted earnings per share to common shareholders, stated in units of pesos $ 6,576 $ 6,420 $ 7,113
Commercial      
Interest on loans and financial leases      
Total interest income on loans and financial leases $ 16,550,290 $ 17,277,481 $ 10,950,463
Consumer Services      
Interest on loans and financial leases      
Total interest income on loans and financial leases 8,502,467 10,062,092 7,821,758
Mortgage      
Interest on loans and financial leases      
Total interest income on loans and financial leases 3,790,158 3,852,725 3,377,432
Financial Leases      
Interest on loans and financial leases      
Total interest income on loans and financial leases 3,559,814 3,879,188 2,461,456
Small Business Loans      
Interest on loans and financial leases      
Total interest income on loans and financial leases $ 210,822 $ 169,301 $ 172,384