Colombia’s financial institutions posted a combined net profit of 2.72
trillion Colombian pesos ($1.35 billion) in the first half of the year,
up 13% from COP2.41 trillion in the same period in 2008, the country’s
banking regulator said on Thursday.
Locally owned private-sector banks reported COP1.72 trillion in
profits in the January-June period, up 5% from COP1.63 billion in the
same period last year.
Net profit at Bancolombia (CIB), the country’s largest bank, fell
to COP555 billion in the first six months of the year from COP584.8
billion during the same period a year ago.
Banco de Bogota (BOGOTA.BO), the country’s second-largest bank,
posted a net profit of COP353 billion in the first half, up 16% from
the same period last year when it booked a net profit of COP304
The local unit of Spain’s BBVA (BBV) reported the biggest profit
among foreign banks, posting a net profit of COP203.5 billion in the
first six months of the year, up 18% from COP172 billion registered in
the same period last year.
The net profit of the Colombian unit of U.S.-based Citigroup Inc.
(C) jumped to COP127 billion in the first six months from COP69.4
billion a year earlier.
The local unit of HSBC Holdings PLC (HBC) reported a first-half net
loss of COP7.4 billion, compared with a net loss of COP8.1 billion. (Dow Jones)