The president of Colombia’s second biggest bank predicts a 20% growth in assets for 2012, in an interview with financial magazine Dinero.
Bank president Alejandro Figueroa predicted that the Colombian economy would do well next year with a 20% increase in credit with the Consumer Price Index going up by 3%.
Regarding a possible mortgage bubble, Figueroa said, “Colombian banks are careful with giving credit. For this reason, we rule out that a situation like this presents itself in the country.”
The bank plans to focus on increasing business in Colombia and Central America, where it already has a presence.
“We are always looking at possibilities in several countries,” said Figueroa.
Monday Banco de Bogota issued bonds worth $500 million. In this case demand outstripped supply six times over.