CUSTOMER DEPOSITS

12 Months Ended

Dec. 31, 2021

Disclosure of customer deposits [abstract]

CUSTOMER DEPOSITS

NOTE 20 – CUSTOMER DEPOSITS

20.1   Detail of the composition of the deposits

The following is the detail of the balances of the deposits received from Grupo Aval´s customer and subsidiaries in development of their deposit collection operations:

Detail	December 31, 2021		December 31, 2020
Demand
Checking accounts	Ps.	59,225,849	Ps.	51,198,284
Savings accounts		89,097,128		76,551,465
Other funds on demand		617,201		532,660
		148,940,178		128,282,409
Term deposits
Fixed term deposit certificates (1)		85,530,244		83,559,188
Total deposits		234,470,422		211,841,597
Per currency
In Colombian Pesos		122,904,271		116,477,562
In foreign currency		111,566,151		95,364,035
Total per currency	Ps.	234,470,422	Ps.	211,841,597

(1) The amount of term deposits due over 12 months as December 31, 2021 is Ps. 26,380,487 and December 31, 2020 is Ps. 28,164,514.

20.2  Detail of the effective interest rates

The following is a summary of the effective interest rates which are accrued on customer deposits is as follows:

December 31, 2021
	Deposits
	In Colombian Pesos				In foreign currency
	Rate				Rate
	Minimum		Maximum		Minimum		Maximum
	%		%		%		%
Interest-bearing checking accounts	0.05	%	3.69	%	0.01	%	5.50	%
Saving accounts	0.01	%	6.03	%	0.01	%	8.00	%
Fixed term deposit certificates	0.05	%	10.15	%	0.01	%	10.35	%

December 31, 2020
	Deposits
	In Colombian Pesos				In foreign currency
	Rate				Rate
	Minimum		Maximum		Minimum		Maximum
	%		%		%		%
Interest-bearing checking accounts	0.07	%	3.20	%	0.03	%	5.85	%
Saving accounts	0.01	%	5.07	%	0.03	%	8.00	%
Fixed term deposit certificates	0.01	%	10.30	%	0.01	%	10.35	%

20.3  Detail of the concentration of deposits received from customers per economic sector

	December 31, 2021				December 31, 2020
	Amount		%		Amount		%
Individuals	Ps.	49,728,304	21.2	%	Ps.	44,766,208	21.1	%
Commerce		36,427,804	15.5	%		29,901,422	14.1	%
Financial		34,729,994	14.8	%		39,703,773	18.7	%
Services		26,808,490	11.4	%		17,637,128	8.3	%
Government and Colombian Government entities		19,302,161	8.2	%		18,260,125	8.6	%
Insurance		7,017,685	3.0	%		2,769,410	1.3	%
Manufacturing		5,761,688	2.5	%		4,072,883	1.9	%
Real Estate		4,410,650	1.9	%		3,422,308	1.6	%
Agriculture and livestock		2,588,497	1.1	%		2,494,422	1.2	%
Exploitation of mines and quarries		2,412,425	1.0	%		755,267	0.4	%
Transport		2,134,067	0.9	%		1,036,546	0.5	%
Telecommunications		2,126,723	0.9	%		282,717	0.1	%
Education		1,577,282	0.7	%		1,586,080	0.7	%
Foreign Governments		931,011	0.4	%		1,087,077	0.5	%
Artistic, entertainment and recreation activities		732,304	0.3	%		313,444	0.1	%
Colombian Municipalities		443,543	0.2	%		532,739	0.3	%
Tourism		558,777	0.2	%		473,756	0.2	%
Other		36,779,017	15.8	%		42,746,292	20.4	%
Total	Ps.	234,470,422	100	%	Ps.	211,841,597	100	%