Bank profits in Colombia reached $3.08 trillion and registered a 37.7% drop at the end of the first quarter of the yearcompared to the same period of 2022 when they were $4.95 trillion, according to the statistics consolidated by the Financial Superintendence.
For their part, credit establishments as a whole, which include banks, financial corporations, financing companies and financial cooperatives, saw their profits fall by 35.4%.
(Read: Law ‘stop scrubbing’: what time can the banks call you).
According to the Financial Superintendence, with the exception of the Companies Specialized in Electronic Payments (Sedpes), increases in profits were observed in all
industries during March.
The profits of the Special Official Institutions (IOEs) reached $1.8 trillion, followed by the insurance industry with $1.5 trillion, Pension Fund Administrators with $380.6 billion, trust companies with $284.000 million, infrastructure providers with $114,200 and the intermediaries of
values with $68.900 million. In contrast, the Sedpes posted losses of $4.6 billion.
(Read: Savings accounts fall before the advance of the CDT).
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