Although 12 banks reported losses in July, one more than in June, the results of the 30 banks of this type as a whole are improving.
According to the Financial Superintendence, until the seventh month of the year, bank profits amounted to $4.57 billion, that is, they were 10.9% lower than those registered a year ago.when the figure rose to $5.13 trillion.
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The five entities that presented the best results were Bancolombia with $3.31 billion, Banco de Bogotá with $682,423 million, Citibank with $427,437 million, Banco Davivienda with $342,222 million and Banco de Occidente with $302,217 million.
Credit institutions, which include banks, financial corporations, finance companies and financial cooperatives, had profits of $4.5 trillion.
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Financial corporations had profits of $249 billion and financial cooperatives $35.5 billion, while financing companies reported losses of $245.1 billion.
Bank results for July.
Portfolio
The gross credit balance amounted to $693.2 billion and the deepening indicator stood at 42.9% of GDP.
In accordance with the credit cycle, The portfolio completed 16 months with negative annual real variations and registered -4.6% in the gross balance in July, reflecting the negative annual real variation of the consumption and commercial modalities, which could not be neutralized by the positive variation of microcredit and housing; the correction of the inflation effect to the extent that the nominal growth rate (1.9%) is higher than the real variation; and, the dynamics of the write-offs that in July totaled $1.7 billion, influenced mainly by the consumption modalities with a share of 81.3% and commercial 10.5%.
Portfolio in default
The balance reporting arrears of more than 30 days reached $35.5 trillion, which meant a month-on-month increase in the balance of $75.9 billion. In particular, compared to July 2023, the balance varied at a real rate of -0.5%, driven by the fall in the annual real variation of the consumption modalities, which registered an annual real variation of -7.2%; commercial, which registered -2.4%; and microcredit, which decreased compared to the previous month with a record of 38.3%.
Banks
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The current portfolio was $657.7 billion, which represents 94.9% of the total balance.
The portfolio quality indicator for default for the total portfolio, calculated as the ratio between the overdue and gross balance, was 5.1%, that is, 0.2 percentage points above July 2023.
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By type, microcredit reported an indicator of 10.1%, followed by consumer credit, which stood at 7.8%, commercial credit, at 3.8%, and housing credit, at 3.5%.
Less profitability
In July, the net interest margin of credit institutions (EC, banks, financial corporations, financing companies and financial cooperatives) represented 51.7% of the gross financial margin, the valuation and investment income 24.5%, and commissions and
financial services 17.9%. The profitability
of the assets of these entities stood at 0.78%, compared to 0.96% in the same month of 2023.
HOLMAN RODRIGUEZ MARTINEZ
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