Colombia’s financial sector posts big profits in 2012

Colombia’s financial sector posted profits of $10.7 billion between January and April.

According to a report by the Financial Superintendence, in the first four months of 2012 the Colombian financial industry made $10.7 billion, $8.5 billion of which came from administrated pension fund assets with the remaining $2.2 billion gained from monitored financial entities.

Profits that stood out were from Obligatory Pension Funds as 78% of their operating profits come from investments which greatly appreciated in value.

In April assets in the financial sector, including funds administered by supervised financial entities, reached $435.8 billion which translated into a real growth rate of 12.2% and a nominal growth rate of 16.1%.

The biggest contributor to the asset growth rate came from investments which registered a real growth rate of 8.2% and a nominal growth rate of 11.9% ascending to $209.5 billion.

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