XML 64 R45.htm IDEA: XBRL DOCUMENT v3.22.1
REPORTING ENTITY (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of subsidiaries [line items]  
Disclosure of macroeconomic variables used expected credit loss calculation

The following table presents one-year projections for Colombia made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

5.62%

​

2.26%

2.69%

3.08%

Interest rate

3.00%

​

1.75%

2.25%

2.75%

GDP Growth

10.60%

​

3.89%

4.86%

5.85%

Unemployment rate

11.00%

​

16.31%

14.43%

12.90%

​

​

The following table presents one-year projections for Guatemala made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

3.07%

​

5.31%

3.28%

2.52%

Nominal interest rate variation

(0.41%)

​

0.04%

(0.27%)

(0.50%)

GDP Growth

7.50%

​

1.67%

4.20%

5.84%

Devaluation

(0.96%)

​

1.16%

(0.25%)

(1.79%)

​

The following table presents one-year projections for Honduras made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

5.32%

​

3.34%

3.57%

2.54%

Nominal interest rate variation

(1.60%)

​

0.20%

(0.21%)

(0.50%)

GDP Growth

12.50%

​

2.03%

3.94%

4.71%

Devaluation

1.49%

​

1.91%

0.92%

(0.55%)

​

The following table presents one-year projections for El Salvador made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

6.11%

​

1.22%

0.23%

(0.23%)

Nominal interest rate variation

(0.14%)

​

1.10%

0.40%

(0.08%)

GDP Growth

10.30%

​

1.96%

3.60%

4.69%

​

​

The following table presents one-year projections for Nicaragua made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

7.21%

​

3.67%

2.78%

2.49%

Nominal interest rate variation

(0.86%)

​

1.05%

0.11%

(1.38%)

GDP Growth

10.30%

​

(2.28%)

0.14%

2.12%

​

The following table presents one-year projections for Costa Rica made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

3.30%

​

2.22%

0.98%

0.75%

Nominal interest rate variation

(1.01%)

​

2.28%

1.82%

(0.01%)

GDP Growth

7.60%

​

0.93%

2.98%

4.27%

Devaluation

4.53%

​

5.22%

3.67%

2.19%

​

The following table presents one-year projections for Panamá made in December 2020, compared to the official data for December 2021:

​

​

​

​

​

​

​

2021

​

2020

​

Real Scenario

​

Scenario A

Scenario B

Scenario C

Inflation

2.62%

​

1.89%

0.23%

(0.29%)

Nominal interest rate variation

(0.09%)

​

0.21%

0.02%

(0.13%)

GDP Growth

15.30%

​

2.37%

4.04%

6.34%

Loss allowance balances

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Commercial

Ps.

5,854,745

Ps.

5,280,406

Ps.

574,339

Consumer

​

4,581,004

​

4,938,971

​

(357,967)

Mortgage

​

732,407

​

560,904

​

171,503

Microcredit

​

105,070

​

124,039

​

(18,969)

Interbank and overnight funds

​

2,386

​

851

​

1,535

Total

Ps.

11,275,612

Ps.

10,905,171

Ps.

370,441

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Other receivables

Ps.

382,802

Ps.

343,057

Ps.

39,745

Loss allowance expense

Impairment losses per portfolio as of December 31, 2021, and 2020:

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Commercial

Ps.

1,468,180

Ps.

2,213,075

Ps.

(744,895)

Consumer

​

2,813,446

​

3,657,823

​

(844,377)

Mortgage

​

170,176

​

290,140

​

(119,964)

Microcredit

​

17,525

​

76,042

​

(58,517)

Interbank and overnight funds

​

1,535

​

(135)

​

1,670

Total

Ps.

4,470,862

Ps.

6,236,945

Ps.

(1,766,083)

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Other receivables

Ps.

80,298

Ps.

76,357

Ps.

3,941

​

Impairment losses per portfolio as of December 31, 2020, and 2019:

​

​

​

​

​

​

​

​

​

​

As of December 31, 2020

​

As of December 31, 2019

​

Change year-on-year
Variation
Increase (decrease)

Commercial

Ps.

2,213,075

Ps.

1,341,570

Ps.

871,505

Consumer

​

3,657,823

​

2,659,750

​

998,073

Mortgage

​

290,140

​

126,197

​

163,943

Microcredit

​

76,042

​

44,940

​

31,102

Interbank and overnight funds

​

(135)

​

284

​

(419)

Total

Ps.

6,236,945

Ps.

4,172,741

Ps.

2,064,204

​

​

​

​

​

​

​

​

​

​

As of December 31, 2020

​

As of December 31, 2019

​

Change year-on-year
Variation
Increase (decrease)

Other receivables

Ps.

76,357

Ps.

64,640

Ps.

11,717

​

​

Loan portfolio and other receivables as of December 31, 2021, and 2020:

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Commercial

Ps.

122,027,804

Ps.

110,986,938

Ps.

11,040,866

Consumer

​

76,889,145

​

65,835,457

​

11,053,688

Mortgage

​

29,120,316

​

24,558,771

​

4,561,545

Microcredit

​

317,739

​

372,321

​

(54,582)

Interbank and overnight funds

​

3,218,433

​

4,693,678

​

(1,475,245)

Total

Ps.

231,573,437

Ps.

206,447,165

Ps.

25,126,272

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

As of December 31, 2020

​

Change year-on-year
Variation
Increase (decrease)

Other receivables

Ps.

19,410,007

Ps.

15,339,394

Ps.

4,070,613

Summary of volume of reliefs granted per portfolio and their effects on the Group's results

Year ended on December 31, 2021

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Consumer

​

Mortgage

​

Microcredit

​

Total

Amortized cost before modification

Ps.

29,961,397

Ps.

16,834,900

Ps.

13,763,005

Ps.

8,670

Ps.

60,567,972

Net modification loss

​

(18,895)

​

(8,819)

​

(6,213)

​

(12)

​

(33,939)

​

Year ended on December 31, 2020

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Consumer

​

Mortgage

​

Microcredit

​

Total

Amortized cost before modification

Ps.

43,637,334

Ps.

24,776,794

Ps.

14,411,716

Ps.

357,892

Ps.

83,183,736

Net modification loss

​

(13,230)

​

(82,971)

​

(36,873)

​

(2,034)

​

(135,108)

Banco de Bogota S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

     

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

Main local direct subsidiaries (2)

 

  

 

  

 

  

​

Fiduciaria Bogotá S.A.

 

Management of trust funds.

 

Bogotá, Colombia

 

94.99

%  

65.29

%

Almaviva S.A.

​

Logistics services.

​

Bogotá, Colombia

​

95.81

%  

65.85

%

Megalínea S.A.

 

Technical and administrative services

 

Bogotá, Colombia

 

94.90

%  

65.23

%

Main international direct subsidiaries

 

  

 

​

 

​

​

Banco de Bogotá Panamá S.A.

 

Commercial banking services.

 

Panamá, Republic of Panamá

 

100

%  

68.74

%

BAC Holding International Corp. (BAC Holding) (1) (Before Leasing Bogotá S.A. Panamá (LB Panamá))

 

Holding company of BAC Credomatic Inc.

 

Panamá, Republic of Panamá

 

100

%  

68.74

%

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

     

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

Multi Financial Holding (1)

​

Holding company of Multi Financial Group Inc. (MFG)

​

Panamá, Republic of Panamá

​

100

%  

68.74

%

Main indirect subsidiaries

 

  

 

  

 

  

​

BAC Credomatic Inc.

 

Holding company in charge of managing the banking and related subsidiaries in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panamá, among others. (Subsidiary of BAC Holding International Corp).

 

Panamá, Republic of Panamá

 

100

%  

68.74

%

Multi Financial Group Inc. (MFG) (3)

​

It provides financial services mainly for corporate, investment, mortgage and consumer banking, as well as insurance, securities brokerage, factoring, leasing and real estate services.

​

Panamá, Republic of Panamá

​

99.57

%  

68.44

%

​

​

Relevant events

​

​

7.During September 2021, as part of the strategic reorganization that Banco de Bogotá and its subsidiaries have been carrying out, under the leadership of Grupo Aval, its subsidiary Leasing Bogotá S.A. Panamá (LB Panamá) changed its name to BAC Holding International Corp. (BAC Holding), and its 99.57% stake in Multi Financial Group, Inc. (MFG) was spun-off by transferring the control of MFG to Banco de Bogotá, through a new holding company established in Panama named Multi Financial Holding (MFH), whose only shareholder is Banco de Bogotá with a 100% stake. MFH received a 99.57% interest in MFG, becoming its direct parent. This transaction had no effect on the consolidated financial statements.

​

8.On July 28, 2021 Grupo Aval, subscribed a shareholders’ agreement between Grupo Aval, Banco de Bogotá, Banco de Occidente, Fiduciaria Bogotá and Fiduciaria de Occidente, as a result of which, Grupo Aval has acquired the direct control of the Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. (Porvenir). The execution of the agreement does not modify Grupo Aval’s ownership percentage or derives in any financial impact.

​

9.On May 22, 2020, Banco de Bogotá S.A., through its subsidiary BAC Holding International Corp. (BAC Holding), acquired 96.6% of the common shares of the Panamanian company Multi Financial Group Inc. (MFG), parent of the bank Multibank (Panama), for an amount of US$432 million. The acquisition was funded with BAC Holding International Corp's own resources. (See note 35).
Banco de Occidente S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

Banco de Occidente (Panamá). S.A.

 

Commercial banking services.

 

Panamá, Republic of Panamá

 

95.00

%  

68.66

%

Fiduciaria de Occidente S.A.

 

Management of trust funds.

 

Bogotá, Colombia

 

99.99

%  

70.84

%

Occidental Bank Barbados Ltd.

 

Commercial banking services.

 

Barbados

 

100

%  

72.27

%

Banco Popular S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

Alpopular S.A.

 

Conservation and custody of documents; transportation of products at national and international levels.

 

Bogotá, Colombia

 

71.10

%  

66.65

%

Fiduciaria Popular S.A.

 

Management of trust funds.

 

Bogotá, Colombia

 

94.85

%  

88.91

%

Banco Comercial AV Villas S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

A Toda Hora S.A. ATH

​

ATM network services and maintenance and software development

​

Bogotá, Colombia

 

100

%  

78.90

%

Corporacion Financiera Colombiana S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

Main Indirect Subsidiaries

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

 

by Grupo Aval

​

Promigas S.A. E.S.P.

​

Transportation and distribution of natural gas.

​

Barranquilla, Colombia

​

50.88

%  

20.34

%

Estudios y Proyectos del Sol S.A.S.

 

Infrastructure projects.

 

Bogotá, Colombia

 

100

%  

39.98

%

Colombiana de Licitaciones y Concesiones S.A.S.

 

Infrastructure projects.

 

Bogotá, Colombia

 

100

%  

39.98

%

Proyectos y Desarrollos Viales del Pacífico S.A.S.

​

Infrastructure projects.

​

Bogotá, Colombia

​

100

%  

39.98

%

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

Main Indirect Subsidiaries

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

 

by Grupo Aval

​

CFC Gas Holding S.A.S.

​

Investment Company

​

Bogotá, Colombia

​

100

%  

39.98

%

Concesionaria Vial Del Pacifico S.A.S.

 

Infrastructure projects.

 

Sabaneta Antioquia

 

100

%  

39.98

%

Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A.  
Disclosure of subsidiaries [line items]  
Disclosure of information about consolidated structured entities [text block]

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

​

    

Total

​

​

​

​

​

​

​

Total voting

​

ownership

​

​

​

​

​

​

​

rights held by

​

interest held

​

Subsidiary

​

Core business

​

Location

​

Grupo Aval

​

by Grupo Aval

​

Aportes en Línea S.A.

 

Technical and administrative services.

 

Bogotá, Colombia

 

100

%  

75.08

%