Colombia · Delayed Price · Currency is COP Grupo Cibest Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 net income fell 16% year-over-year due to a one-off wealth tax, but operational results were strong with higher NIM, fee income, and robust deposit growth. Guidance for 2026 was raised for NIM and ROE, with capital allocated to buybacks, digital investments, and Nequi's spin-off.
Fiscal Year 2025
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Net income reached COP 3.8 trillion, with ROE at 9.1% due to a one-off impairment; excluding this, net income would have been COP 7.3 trillion and ROE 17.2%. 2026 guidance targets 7–8% loan growth, NIM of 6.8–7%, and ROE of 18–18.5%, amid macro and tax uncertainties.
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Net income rose 20% quarter-over-quarter and 43% year-over-year, with ROE reaching 20.4% and strong asset quality improvements. Consumer loans and digital platforms like Nequi drove growth, while the share buyback program enhanced valuation. Guidance for 2026 includes 7% loan growth and 16%-17% ROE.
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Grupo Cibest reported strong Q2 2025 results, with ROE rising to 17.5% and net income up 24% year-over-year. Loan growth is led by consumer and mortgage segments, while Nequi nears break-even. 2025 guidance was revised upward, and the group remains well positioned amid macro and political uncertainties.
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Net income rose 4.5% year-over-year to COP 1.7 trillion, with ROE at 16.3% and NIM at 6.4%. Asset quality improved, and guidance for 2025 is cautious amid fiscal and political uncertainties, with a focus on digital growth and capital flexibility.
Fiscal Year 2024
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Q4 2024 net income rose 11% to COP 1.7T, with full-year net income up 2.5% to COP 6.3T and ROE at 15.8%. Dividend payout set at 60%, and 2025 guidance includes 5.6% loan growth and 6.2% NIM. Transition to Grupo Cibest aims to enhance capital efficiency and transparency.
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Q3 2024 net income rose to COP 1.5 trillion with 15% ROE, driven by investment gains and lower costs. Deposit growth outpaced loans, NIM compressed to 6.8%, and Nequi saw rapid expansion. 2025 guidance anticipates flat or slightly lower net income, with NIM and cost of risk as key variables.
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A new holding company, Grupo Cibest, will be created to optimize capital allocation, enable share buybacks, and enhance value distribution without operational changes. The structure is cost- and tax-neutral, improves capital efficiency, and targets completion in the first half of 2025.
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Q2 saw stable NIM at 7.1% and 3% loan growth, but net income fell 13.5% sequentially due to higher provisions and a one-off impairment. Guidance for 2024 includes 8% loan growth, NIM at 6.8%, and ROE between 14–15%.