Banco de Occidente S.A. (BVC: OCCIDENTE)

Banco de Occidente Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	7,439,163	7,215,219	4,371,074	2,564,823	2,820,605	2,934,321
Interest Income on Investments	523,241	523,241	325,807	180,273	155,733	188,411
Total Interest Income	7,962,404	7,738,460	4,696,881	2,745,096	2,976,338	3,122,732
Interest Paid on Deposits	4,407,919	4,346,644	1,912,314	494,151	725,483	829,422
Interest Paid on Borrowings	1,148,709	1,148,709	579,101	275,469	356,720	398,962
Total Interest Expense	5,556,628	5,495,353	2,491,415	769,620	1,082,203	1,228,384
Net Interest Income	2,405,776	2,243,107	2,205,466	1,975,476	1,894,135	1,894,348
Net Interest Income Growth (YoY)	9.29%	1.71%	11.64%	4.29%	-0.01%	-3.64%
Income From Trading Activities	508,267	629,469	19,343	-67,782	396,934	117,047
Gain (Loss) on Sale of Assets	13,324	25,198	15,968	16,971	50,653	7,387
Gain (Loss) on Sale of Investments	-7,214	-12,445	-28,970	1,345	70,778	180,330
Gain (Loss) on Sale of Equity Investments	199,418	218,882	122,041	245,863	256,635	250,848
Other Non-Interest Income	742,580	568,052	791,770	836,239	392,386	670,632
Total Non-Interest Income	1,456,375	1,429,156	920,152	1,032,636	1,167,386	1,226,244
Non-Interest Income Growth (YoY)	18.12%	55.32%	-10.89%	-11.54%	-4.80%	23.91%
Revenues Before Loan Losses	3,862,151	3,672,263	3,125,618	3,008,112	3,061,521	3,120,592
Provision for Loan Losses	1,417,048	1,195,579	745,219	723,644	1,137,337	867,086
Revenue	2,445,103	2,476,684	2,380,399	2,284,468	1,924,184	2,253,506
Revenue Growth (YoY)	-5.10%	4.04%	4.20%	18.72%	-14.61%	16.09%
Salaries and Employee Benefits	891,687	867,105	811,302	759,171	761,470	726,843
Occupancy Expenses	132,238	111,082	106,967	100,670	101,636	104,500
Amortization of Goodwill & Intangibles	79,345	74,763	55,988	45,312	33,508	21,162
Selling, General & Administrative	977,404	954,913	826,462	730,655	699,300	766,889
Other Non-Interest Expense	36,201	32,479	35,045	4,226	36,193	13,363
Total Non-Interest Expense	2,120,437	2,043,800	1,837,335	1,641,349	1,632,987	1,633,286
EBT Excluding Unusual Items	324,666	432,884	543,064	643,119	291,197	620,220
Asset Writedown	16,972	19,328	30,735	17,691	-16,098	8,938
Other Unusual Items	-1,834	-	-	-	-	-
Pretax Income	339,804	452,212	573,799	660,810	275,099	629,158
Income Tax Expense	-56,422	-27,345	117,456	74,903	-65,459	61,098
Earnings From Continuing Operations	396,226	479,557	456,343	585,907	340,558	568,060
Minority Interest in Earnings	-5,452	-6,010	-3,834	-5,685	-5,668	-4,704
Net Income	390,774	473,547	452,509	580,222	334,890	563,356
Net Income to Common	390,774	473,547	452,509	580,222	334,890	563,356
Net Income Growth	-26.63%	4.65%	-22.01%	73.26%	-40.55%	36.28%
Basic Shares Outstanding	156	156	156	156	156	156
Diluted Shares Outstanding	156	156	156	156	156	156
EPS (Basic)	2506.57	3037.51	2902.56	3721.76	2148.11	3613.58
EPS (Diluted)	2506.57	3037.51	2902.56	3721.76	2148.11	3613.58
EPS Growth	-26.63%	4.65%	-22.01%	73.26%	-40.55%	36.28%
Effective Tax Rate	-	-	20.47%	11.34%	-	9.71%

Source: S&P Capital IQ. Banks template. Financial Sources.