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Economy

Colombia’s financial sector reports COP8.5T profit in 2009

by Hannah Stone February 15, 2010

colombia, banks, financial sector

Colombia’s financial sector made profits of over COP8.5 trillion in 2009, according to a report released Monday by Colombia’s banking regulator.

The profits for 2009 represent a COP2 trillion increase from than the figure in 2008.

The regulator said that the major increase in profits last year was driven by positive performance of the investments made by financial intermediaries, particularly in government bonds (TES), reports La Republica.

Credit institutions accounted for COP5.5 trillion of the financial sector’s profits, 64% of the total, while the insurance industry made COP1.39 trillion, 16% of the total.

banksfinancial sectorprofit

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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