Colombia Banks Jan-July Combined Net Profit Up 15% To COP3.58 Trillion
September 01 2010 - 4:52PM
Dow Jones News
Colombia's financial institutions posted a combined net profit
of 3.58 trillion Colombian pesos ($1.97 billion) during the first
seven months of the year, up 15% from the same period in 2009, the
country's banking regulator said Wednesday.
The increase was due to higher revenue from lending, the
regulator said.
Locally owned private-sector banks reported COP2.23 trillion in
profits in the first seven months of the year, up from COP1.96
trillion in the same period in 2009.
Net profit at Bancolombia SA (CIB, BCOLOMBIA.BO), the country's
largest bank by assets, rose 7.7% to COP667 billion. The net profit
figure includes only Bancolombia and not its subsidiaries in
Colombia and abroad.
Banco de Bogota (BOGOTA.BO), the country's second-largest bank,
posted a net profit of COP447 billion, up 11% from the same period
in 2009, when it booked a net profit of COP404 billion.
The country's third-largest bank, Banco Davivienda, booked a net
profit of COP301 billion in the period from January through July
this year, up 14% from COP263 billion in the period in 2009.
Davivienda is in the process of holding an initial public offering
on the local stock exchange.
Among foreign-owned banks, the local unit of Spain's Banco
Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) earned COP280 billion,
up from COP242 billion. The local unit of Spain's Banco Santander
SA (STD, SAN.MC) reported its net profit rose 11% to COP65 billion
from COP59 billion.
The local unit of U.K. bank HSBC PLC (HBC, HSBA.LN) posted a net
loss of COP23 billion. The loss compares with a net loss of COP7.7
billion in the first seven months of 2009.
The local unit of Citigroup Inc. (C) reported a profit of COP93
billion, 39% lower than in the same period a year ago.
-By Inti Landauro, Dow Jones Newswires; 57-1-694 00 76;
colombia@dowjones.com
Order free Annual Report for HSBC Holdings plc
Visit http://djnweurope.ar.wilink.com/?ticker=GB0005405286 or
call +44 (0)208 391 6028
BBVA Bilbao Vizcaya Arge... (NYSE:BBVA)
Historical Stock Chart
From May 2024 to Jun 2024
BBVA Bilbao Vizcaya Arge... (NYSE:BBVA)
Historical Stock Chart
From Jun 2023 to Jun 2024
