Through a statement to the public, the Business Development Bank of Colombia (Bancóldex) announced important changes in its board of directors, with the departure of its current president, Javier Díaz, who took the reins of this institution for more than five years and leaves a positive balance.
As explained by the institution, “after six years at the head of the entity, on February 3, 2025, due to the end of the statutory and contractual period, Javier Díaz Fajardo will complete his management as president of the Bank.”
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Thus, from February 4 he will be in charge of the presidency of Bancóldex José Alberto Garzón Gaitán, legal vice president and general secretary, while due process is provided and a replacement for Díaz Fajardo is appointed.
“During his management, Díaz led the bank’s modernization process in terms of digitalization, innovation and business model, thus responding to new market needs. Within this process, the strengthening of activity as a first-tier bank stands out,” they added from Bancoldex.
This bank also highlighted that during this period, the Colombian business development bank mobilized historic financing for more than $34 billion to more than 700,000 entrepreneurs, in all regions of the country, thanks to the network. of 104 financial allies and the expansion of alliances with microfinance institutions and cooperatives.
Javier Díaz Fajardo – Bancoldex.
Courtesy – API
“Through direct credit, Bancóldex participated in the financing of large projects in the country, and incorporated more than 2,000 new clients, which allowed the construction of a direct credit portfolio of more than $1.3 trillion,” he said.
On the other hand, in the management balance of the outgoing president, It was reported that in terms of financial solidity, the bank reached historical maximum portfolio levels, even reaching $9 billion during this period, always maintaining positive profit, solvency and gross financial margin growth rates. With this, the highest risk ratings from Fitch Ratings and BRC-S&P Global were maintained.
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“Under Díaz’s leadership, Bancóldex acted as a public policy instrument in economic reactivation, mobilizing financing in complex situations such as the Covid-19 pandemic and natural disasters. Particularly, during the pandemic, more than $5.2 billion was mobilized to more than 182,000 companies,” they reported.
Bancóldex, under the leadership of Díaz, strengthened its position in the local market by leading three thematic bond issues for $1.6 billionconsolidating itself as one of the largest emitters of this type in Colombia.
In addition, the entity stood out in corporate governance, occupying first place nationally in 2023 according to KPMG’s Board Leadership Center, while in financial innovation, it developed solutions such as Neocrédito, a marketplace for microcredits, which benefited more than 22,406 microentrepreneurs, along with the Digital Leasing and Exchange Hedging platforms.
Jorge Alberto Garzón – Bancoldex.
Courtesy – API
ANDAt the international level, Díaz assumed the co-presidency of the International Club of Development Finance (IDFC) and led key events such as the World Summit of Public Development Banks.
Likewise, Bancóldex obtained accreditation from the Green Climate Fund, which will allow it to finance business projects focused on decarbonization. His role in the Green Coalition for the Amazon reinforces his environmental commitment. Meanwhile, José Alberto Garzón, who will be in charge of the presidency of the Bank, is a lawyer with specializations in Commercial, Financial and Insurance Law, and advanced training in Senior Management, Economy and Business.
“He has a professional career of more than 25 years in the financial sector; currently, he is the Legal Vice President and General Secretary of Bancóldex. He is also a member of important boards of directors such as the Latin American Bank of Foreign Trade, Bladex, Segurexpo of Colombia (CESCE of Colombia) and holds the presidency of the Board of Directors of Fiducoldex and the Colombian Institute of Corporate Governance,” they concluded.
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