“Corruption cost Colombia’s peace process $119M”
Colombia suggests top guerrilla leader killed in Venezuela
Renowned economist designated Colombia’s new finance minister
Truth Commission: Colombia needs radical policy changes to...
Colombia’s controversial moment of truth
At least 49 dead after ‘prison break attempt’...
Colombia’s incoming government begins “total peace” offensive
Colombia investigating bullfighting tragedy
Petro’s first moves to restructure Colombia’s government
Petro and Duque meet over transition of power...
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Bancolombia sees 2011 loans expanding 15% in Colombia

by Newswires March 8, 2011

Colombia news - Bancolombia

Bancolombia SA, Colombia’s largest bank, expects credit to continue expanding at a fast pace in 2011, a factor likely to drive the bank’s results this year.

Carlos Yepes, Bancolombia’s chief executive, said in a conference call Tuesday that credit would likely grow 15% this year, continuing a trend that started in the second half of 2010.

The higher demand for loans boosted Bancolombia’s results in the last quarter of 2010. The bank reported a consolidated net income of COP429 billion ($227 million), a 16% increase from the same period a year earlier. The results were boosted by a 16% increase in net loans. “This growth confirms the improvement in credit demand” that started in 2010, the bank said in a statement.

Bancolombia’s net income for 2010 was COP1.4 trillion, 14% higher than in 2009. Bancolombia’s shares decline 0.36% Tuesday to COP27,580 while the benchmark IGBC index retreats 0.87% to 15149.26 points.

After a 0.8% expansion in 2009, the government estimates the economy rebounded last year and grew at least 4%. The central bank has highlighted that consumer credit and domestic demand have been the main factors driving economic growth in recent months.

(Darcy Crowe, Dow Jones)

Bancolombiabankseconomyloans

Trending

  • At least 49 dead after ‘prison break attempt’ in west Colombia

  • Truth Commission: Colombia needs radical policy changes to end conflict

  • Renowned economist designated Colombia’s new finance minister

Related articles

  • Gross domestic product

  • Labor and unemployment

  • Scholars’ drastic solutions for Colombia | Part 1: renegotiating free trade

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top