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
  • About us
  • Support us
  • Intelligence
  • Contact Us
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’s 2Q net profit rises 15% on year

by Adriaan Alsema August 4, 2010
Colombia Reports relies on your financial support. Please become our patron and support independent reporting from Colombia.
The future of Colombia Reports is under threat. The country's largest independent news website needs your help. Please become our patron.

Colombia news - Bancolombia logo

Colombia’s largest bank, Bancolombia SA, booked a second-quarter net profit of 291 billion Colombian pesos ($159 million), up 15% from the same period last year.

The Medellin-based bank attributed the increase to higher bank fees, which rose 4%, and lower provision for bad loans, which fell 85% to COP35 billion.

Bancolombia’s profit for the first quarter was lower than the COP306 billion median expectation of five analysts polled by Dow Jones Newswires.

The bank’s net loan portfolio at the end of June was 4.9% higher than at the end of March and 2% lower than at the end of June 2009.

Chief Executive Jorge Londono expects the loan portfolio to rise between 8% and 10% this year.

The bank had reported a net profit of COP1.23 trillion in 2009.

Bancolombia’s American depositary shares rose 0.1% to $58.95 Wednesday and were inactive in after-hours trading. (Inti Landauro / Dow Jones)

Colombia Reports relies on your financial support. Please become our patron and support independent reporting from Colombia.
The future of Colombia Reports is under threat. The country's largest independent news website needs your help. Please become our patron.
Bancolombiabankseconomy

Trending

  • Colombia’s state forces apparently involved in ‘orchestrated terror’ campaign against citizens

  • Who in Colombia is taking part in national strike and why

  • Colombia denies militarization as soldiers take Bogota ahead of anti-government protests

Weekly interviews and news updates

Related articles

  • OECD warns Colombia that despite progress, ‘courageous’ reform is needed

  • Colombia’s unemployment surges to 10.8%, highest since 2010

  • Colombia ranks lowest in OECD work-life balance report

  • Facebook
  • Twitter
  • Linkedin
  • RSS

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


Back To Top