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CONSOLIDATED STATEMENT OF CASH FLOW - COP ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 6,996,365 $ 4,207,787 $ 315,359
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 949,448 855,167 736,367
Other assets impairment 31,127 65,391 101,423
Impairment of investments in associates and joint ventures [1] 9,633 1,733 4,399
Equity method (219,105) (199,652) (136,596)
Credit impairment charges on loans and advances and financial leases 3,721,353 2,521,178 7,335,755
Credit impairment (recovery) charges on off balance sheet credit and other financial instruments 70,344 (100,648) 190,694
Gain on sales of assets held for sale and inventories (171,482) (227,445) (65,932)
Valuation gain on investment securities (1,786,416) (790,063) (814,164)
Loss upon disposal of investment in subsidiary, associates, and joint ventures [2] 41,434    
Valuation (losses) gain on derivative financial instruments (68,055) (319,524) (629,258)
Income tax 2,748,421 1,776,225 (6,586)
Bonuses and short-term benefits 640,458 526,273 11,816
Dividends (59,072) (108,079) (14,217)
Investment property valuation (236,617) (67,762) 3,501
Other non-cash items 22,632 (29,076) (4,710)
Net interest (16,341,023) (10,992,734) (10,269,969)
Change in operating assets and liabilities:      
Decrease in derivative financial instruments 348,554 245,064 236,143
Decrease (Increase) in accounts receivable 515,052 (489,266) (408,015)
Increase in loans and advances to customers (37,593,875) (24,057,389) (7,440,568)
(Increase) Decrease in other assets (724,769) (278,776) 83,393
Increase (Decrease) in accounts payable 2,719,586 1,271,347 (10,507)
Decrease in other liabilities (127,044) (296,865) (120,429)
Increase in deposits by customers 23,214,318 19,290,140 21,007,104
(Decrease) Increase in estimated liabilities and provisions (31,945) 21,629 (6,098)
Net changes in investment securities recognized at fair value through profit or loss 6,321,440 1,834,085 (7,514,600)
Proceeds from sales of assets held for sale 778,328 735,788 382,139
Recovery of charged-off loans 674,966 565,436 436,908
Income tax paid (2,057,388) (1,441,413) (1,145,887)
Dividend received 81,899 90,822 90,737
Interest received 23,603,725 15,896,674 15,031,229
Interest paid (7,508,066) (4,410,742) (6,149,086)
Net cash provided by operating activities 6,564,226 6,095,305 11,230,345
Cash flows from investment activities:      
Purchases of debt instruments at amortized cost (4,915,717) (3,722,124) (3,670,705)
Proceeds from maturities of debt instruments at amortized cost 4,260,063 2,984,260 2,728,509
Purchases of debt instruments at fair value through OCI (6,562,334) (8,850,491) (11,377,756)
Proceeds from debt instruments at fair value through OCI 6,797,420 10,699,010 7,339,264
Purchases of equity instruments at fair value through OCI and interests in associates and joint ventures (255,129) (44,915) (111,349)
Proceeds from equity instruments at fair value through OCI and interests in associates and joint ventures 198,807 69,448 55,174
Consideration paid to non-controlling interests [3] (816,081)   (1,117,680)
Purchases of premises and equipment and investment properties (3,538,855) (2,185,800) (1,530,153)
Acquisition of subsidiaries 799 (9,178)  
Proceeds from sales of premises and equipment and investment properties 421,729 553,652 268,898
Purchase of other long-term assets (245,204) (144,348) (106,269)
Net cash used in investing activities (4,654,502) (650,486) (7,522,067)
Cash flows from financing activities:      
(Decrease) Increase in repurchase agreements and other similar secured borrowing (579,488) (1,457,203) 903,120
Proceeds from borrowings from other financial institutions 14,374,110 4,182,658 12,453,666
Repayment of borrowings from other financial institutions (5,874,833) (8,447,238) (14,919,903)
Payment of lease liability (157,402) (136,797) (139,559)
Placement of debt instruments in issue [4] 2,138,125 1,387,401 3,766,499
Payment of debt instruments in issue (6,699,219) (1,871,576) (5,382,248)
Dividends paid (2,310,666) (467,217) (1,555,821)
Transactions with non-controlling interests (37,191)   (41,194)
Net cash provided (used) in financing activities [5] 853,436 (6,809,972) (4,915,440)
Effect of exchange rate changes on cash and cash equivalents 3,552,285 2,993,850 1,170,269
Increase (Decrease) in cash and cash equivalents 2,763,160 (1,365,153) (1,207,162)
Cash and cash equivalents at beginning of year 25,329,846 23,701,149 23,738,042
Cash and cash equivalents at end of year $ 31,645,291 $ 25,329,846 $ 23,701,149
[1] For further information, see Note 8 investments in associates and joint ventures.
[2] On December 5, 2022, was registered the spin-off of Protección S.A. and the creation of Asulado Seguros de Vida S.A., were registered; the Bank sold its interest in Asulado Seguros de Vida S.A. to SURA Asset Management S.A., to comply with the authorized investment regime.
[3] During the third trimester of 2022, the Parent Company increased its participation percentage in FCP Fondo Inmobiliario Colombia. As of  December 31, 2022, the participation in said private equity fund increased to 80.47%. For further information see Note 1 Reporting Entity. On September 29, 2020, Bancolombia acquired 40% of the shareholdings of Grupo Agromercantil Holding (GAH).
[4] For further information, see Note 18 Debt instruments in issues.
[5] For further information about the reconciliation of the balances of liabilities from financing activities, see Note 29 Liabilities from financing activities.