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CONSOLIDATED STATEMENT OF INCOME - COP ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest on loans and financial leases      
Commercial $ 10,950,463 $ 6,073,718 $ 6,814,749
Consumer 7,821,758 5,362,194 5,472,703
Small business loans 172,384 135,914 139,250
Mortgage 3,377,432 2,331,971 1,876,304
Financial leases 2,461,456 1,440,493 1,829,971
Total interest income on loans and financial leases 24,783,493 15,344,290 16,132,977
Interest on debt instruments using the effective interest method 588,792 311,488 308,453
Total Interest on financial instruments using the effective interest method 25,372,285 15,655,778 16,441,430
Interest income on overnight and market funds 61,962 9,413 32,362
Interest and valuation on financial instruments 1,362,700 470,554 214,858
Total interest and valuation on financial instruments 26,796,947 16,135,745 16,688,650
Interest expenses (8,442,470) (4,351,556) (5,863,008)
Net interest margin and valuation on financial instruments before impairment on loans and financial leases, off balance sheet credit instruments and other financial instruments 18,354,477 11,784,189 10,825,642
Credit impairment charges on loans, advances and financial leases, net (3,721,353) (2,521,178) (7,335,755)
Credit (impairment) recovery for other financial instruments (70,344) 100,648 (190,694)
Total credit impairment charges, net (3,791,697) (2,420,530) (7,526,449)
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 14,562,780 9,363,659 3,299,193
Fees and commissions income 6,370,526 5,293,804 4,598,413
Fees and commissions expenses (2,590,166) (1,860,683) (1,561,585)
Total fees and commissions, net 3,780,360 3,433,121 3,036,828
Other operating income 2,053,435 2,022,141 1,844,572
Dividends and net income on equity investments 235,854 328,344 123,325
Total operating income, net 20,632,429 15,147,265 8,303,918
Operating expenses      
Salaries and employee benefits (4,417,656) (3,782,596) (3,044,730)
Other administrative and general expenses (4,559,900) (3,740,506) (3,346,859)
Taxes other than income tax (929,512) (719,593) (765,766)
Impairment, depreciation and amortization (980,575) (920,558) (837,790)
Total operating expenses (10,887,643) (9,163,253) (7,995,145)
Profit before income tax 9,744,786 5,984,012 308,773
Income tax (2,748,421) (1,776,225) 6,586
Net income 6,996,365 4,207,787 315,359
Net income attributable to equity holders of the Parent Company 6,783,490 4,086,795 275,994
Non-controlling interest $ 212,875 $ 120,992 $ 39,365
Basic earnings per share to common shareholders, stated in units of pesos $ 7,113 $ 4,309 $ 347
Diluted earnings per share to common shareholders, stated in units of pesos $ 7,113 $ 4,309 $ 347