Grupo Bolívar Cash Flow Statement

Financials in millions COP. Fiscal year is January - December.

Millions COP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	559,404	696,884	773,135	291,877	1,061,505	925,434
Depreciation & Amortization	412,563	398,990	392,302	352,698	332,620	314,897
Other Amortization	120,891	120,891	84,451	55,781	40,385	25,157
Gain (Loss) on Sale of Assets	25,916	-14,561	19,781	24,894	-4,603	8,723
Gain (Loss) on Sale of Investments	-2,506,317	-2,431,943	-3,751,941	-2,647,172	-2,407,161	-1,079,547
Total Asset Writedown	33,282	74,279	-122,198	79,628	35,806	78,865
Provision for Credit Losses	4,526,186	4,274,042	5,979,282	6,656,431	4,339,084	3,820,384
Net Decrease (Increase) in Loans Originated / Sold - Operating	3,429,851	3,450,761	699,883	353,871	247,120	-
Change in Trading Asset Securities	20,199,792	17,476,009	18,355,088	21,987,389	19,348,081	7,727,771
Change in Accounts Payable	850,626	935,221	208,140	960,557	2,033,867	921,578
Change in Income Taxes	-1,213,208	-1,563,089	758,857	814,399	-590,567	-323,922
Change in Other Net Operating Assets	-84,819,072	-73,859,330	-28,757,222	-28,207,258	-46,237,033	-25,297,799
Other Operating Activities	4,333,193	3,630,692	953,516	296,268	5,132,847	2,197,685
Operating Cash Flow	-53,608,799	-46,529,653	-4,649,465	924,996	-17,324,329	-10,387,765
Capital Expenditures	-229,204	-226,755	-207,411	-190,125	-195,079	-514,139
Sale of Property, Plant and Equipment	9,513	20,903	14,593	13,440	25,092	32,987
Cash Acquisitions	5,424,246	5,424,246	-	-	-	-
Investment in Securities	-7,167,891	-8,946,173	-2,101,495	-608,650	-2,933,288	-560,950
Income (Loss) Equity Investments	-547,876	-535,823	49,940	138,708	37,391	-70,507
Purchase / Sale of Intangibles	-183,038	-198,465	-188,990	-168,462	-190,466	-
Other Investing Activities	-470,041	-461,303	66,793	157,288	62,996	52,841
Investing Cash Flow	-2,584,588	-4,356,373	-2,397,146	-784,544	-3,220,906	-971,144
Long-Term Debt Issued	-	12,676,218	10,406,676	9,784,046	21,288,740	13,171,457
Long-Term Debt Repaid	-	-12,390,630	-15,031,233	-12,479,693	-18,789,746	-11,864,452
Net Debt Issued (Repaid)	804,343	285,588	-4,624,557	-2,695,647	2,498,994	1,307,005
Common Dividends Paid	-234,442	-227,707	-360,708	-392,210	-370,604	-112,033
Net Increase (Decrease) in Deposit Accounts	61,215,529	57,336,910	12,485,077	4,475,142	18,925,904	12,098,077
Other Financing Activities	561,665	561,665	-	-	-	-
Financing Cash Flow	62,347,095	57,956,456	7,499,812	1,387,285	21,054,294	13,293,049
Foreign Exchange Rate Adjustments	-166,843	-139,089	764,257	-874,494	871,567	427,756
Net Cash Flow	5,986,865	6,931,341	1,217,458	653,243	1,380,626	2,361,896
Free Cash Flow	-53,838,003	-46,756,408	-4,856,876	734,871	-17,519,408	-10,901,904
Free Cash Flow Margin	-543.79%	-499.73%	-64.83%	11.42%	-225.18%	-162.46%
Free Cash Flow Per Share	-	-572509.10	-60050.16	9290.47	-221520.86	-137888.59
Cash Interest Paid	11,312,961	11,312,961	11,607,043	12,161,672	6,511,952	2,650,904
Cash Income Tax Paid	-	-1,513,196	1,145,927	598,646	394,157	264,481

Source: S&P Global Market Intelligence. Banks template. Financial Sources.