Grupo Aval will distribute dividends for 1 billion pesos

Endorsement Group held its general shareholders meeting on March 30. The company reported a separate net profit, for the year 2022, of $2.5 trillion, which represents earnings per share of $109.81 pesos.

Additionally, it approved to distribute dividends to its shareholders for $1.03 trillion pesos, which infers a dividend yield to be received on the share price at the close of March 29, 2022, of 8.0% percent. The dividend will be paid at the rate of $3.60 per share per month for the company’s common and preferred shares, payable during the first ten calendar days of the months between April 2023 and March 2024.

(Read: Grupo Aval had profits of $2.48 trillion in 2022).

Luis Carlos Sarmiento Gutiérrez, president of the company, stressed that, After growing 9.2% during the first 9 months, in the fourth quarter of 2022 the Colombian economy lost traction closing the year with GDP growth of 7.5%.

The acceleration of inflation to 13.2% caused the adoption of a contractive policy by the Banco de la República, reflected in the intervention rate, which increased 1,100 bps from September 2021 to reach 12.75% at the end of the year. 2022.

Read: Give him the wallet! launches the payment of services and mobile recharges

Aval said it expects inflation to be between 8% and 9% by 2023 and for rates to remain high until it begins to ease. Monetary policy, together with new liquidity requirements required by the Colombian Financial Superintendence, led to an accelerated and profound increase in the cost of bank funds and a marginal increase in placement rates.

During fiscal year 2022, Grupo Aval generated employment for more than 77,000 people.

(Read: Bancos Aval sign UN principles of responsible banking).

On March 30, 2022, Banco de Bogotá split 75% of the shares it had in BAC Holding International Corporation (BHI), in favor of its shareholders. At the same time, Grupo Aval divided to its shareholders the BHI shares received as a result of said division.

In December, Banco de Bogotá participated in a takeover bid (OPA) for common shares of BHI where it sold 20.89%, reducing its stake to 4.11%. On March 17, 2023, Banco de Bogotá sold the remaining 4.11%. These transactions marked the changes in the company’s financial statements, when compared to those of 2021.

In the Colombian market, adding the contribution of Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas, Grupo Aval achieved a participation of approximately 24% in both net portfolio and deposits.

(Read: They launch a new digital wallet for strata 1, 2 and 3: what it offers).

Bancos Aval continued to reflect a better portfolio quality indicator (overdue portfolio/total portfolio) than the average for other banks in Colombia.

Corficolombiana had a very good performance in 2022, transversally in the investment portfolio and especially in the infrastructure sector.

For its part, Porvenir faced challenges in its profits related to the behavior of capital markets and the increase in pension insurance premiums.

(Read: Banco de Bogotá, Deloitte and Universidad Javeriana open call).

Through its digitization strategy, close to 5 million digital customers were reachedsales that exceed 2.2 million products and approximately one million customers in the digital wallet, come on!…

During 2022, Aval made significant progress in its sustainability (ESG) strategy, including the inclusion of Banco de Bogotá and Corficolombiana in S&P Global’s 2023 sustainability yearbook. The Cancer Treatment and Research Center, CTIC, which has received important donations from the Aval entities, treated nearly 2,500 patients in 5 months. In addition, the accession to UNEP FI, ​​a partnership between the United Nations and the financial sector, was signed in order to draw up a roadmap that incorporates sustainable finance.

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