Colombia’s financial institutions posted a combined net profit of 3.85
trillion Colombian pesos ($1.61 billion) in the first nine months of
the year, up 26% from the same period in 2007, the country’s banking
regulator said Friday.
Locally owned private-sector banks reported COP2.57 trillion in profits
in the January-September period, up 27% from COP2.02 trillion in the
same period last year.
Net profit at Bancolombia, the
country’s largest bank, rose 44% to COP824 billion in the
January-September period on-year.
Banco de Bogota, the country’s second-largest bank, posted
a net profit of COP518 billion in the first nine months of the year, up
25% from the same period last year, when it booked a net profit of
The local unit of Spain’s BBVA reported the biggest profit among
foreign banks, posting a net profit of COP280 billion in the first nine
months of the year, up 2.8% from COP272 billion registered in the same
period last year.
The net profit of the Colombian unit of U.S.-based Citibank rose to
COP115 billion in the January-September period, up from a net profit of
COP78 billion in the same period last year. (Dow Jones)
The local unit of HSBC Holdings PLC reported a net loss. HSBC’s
loss totaled COP17 billion, which is lower than its net loss of COP27
billion in January-September period in 2007.