Grupo Aval Acciones y Valores S.A. (AVAL)

AVAL 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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	26,385,632	26,534,115	17,559,516	11,882,144	12,458,065	18,491,167
Interest Income on Investments	2,385,289	2,385,289	1,843,516	909,265	758,033	1,061,568
Total Interest Income	28,770,921	28,919,404	19,403,032	12,791,409	13,216,098	19,552,735
Interest Paid on Deposits	15,552,851	16,214,226	7,756,432	2,637,945	3,577,750	5,512,827
Interest Paid on Borrowings	6,418,204	6,418,204	3,907,963	2,022,885	2,223,895	2,754,390
Total Interest Expense	21,971,055	22,632,430	11,664,395	4,660,830	5,801,645	8,267,217
Net Interest Income	6,799,866	6,286,974	7,738,637	8,130,579	7,414,453	11,285,518
Net Interest Income Growth (YoY)	4.26%	-18.76%	-4.82%	9.66%	-34.30%	3.81%
Income From Trading Activities	1,280,855	-916,049	1,559,626	922,281	1,288,142	761,911
Gain (Loss) on Sale of Assets	166,191	364,323	125,449	19,387	102,286	10,154
Gain (Loss) on Sale of Investments	219,275	121,644	-151,422	82,980	457,017	258,577
Gain (Loss) on Sale of Equity Investments	365,933	371,397	372,777	300,217	219,918	229,626
Other Non-Interest Income	7,147,362	9,681,100	6,437,862	6,383,784	5,976,568	8,864,014
Total Non-Interest Income	9,179,616	9,622,415	8,344,292	7,708,649	8,043,931	10,124,282
Non-Interest Income Growth (YoY)	2.27%	15.32%	8.25%	-4.17%	-20.55%	4.95%
Revenues Before Loan Losses	15,979,482	15,909,389	16,082,929	15,839,228	15,458,384	21,409,800
Provision for Loan Losses	4,533,066	4,195,265	2,476,425	2,720,423	4,264,031	3,815,118
Revenue	11,446,416	11,714,124	13,606,504	13,118,805	11,194,353	17,594,682
Revenue Growth (YoY)	-3.93%	-13.91%	3.72%	17.19%	-36.38%	5.43%
Salaries and Employee Benefits	3,123,136	3,055,168	2,833,794	2,634,187	2,481,563	4,085,396
Occupancy Expenses	993,015	968,487	913,090	841,996	803,539	1,343,241
Amortization of Goodwill & Intangibles	244,464	240,804	225,137	206,688	181,448	191,768
Selling, General & Administrative	1,378,834	1,342,866	1,252,006	1,136,988	1,176,541	2,066,257
Other Non-Interest Expense	2,525,691	2,493,840	1,869,608	1,738,577	1,461,227	1,798,369
Total Non-Interest Expense	8,417,595	8,301,460	7,382,596	6,775,161	6,302,156	10,157,122
EBT Excluding Unusual Items	3,028,821	3,412,664	6,223,908	6,343,644	4,892,197	7,437,560
Asset Writedown	125,217	74,886	50,463	20,974	-50,326	14,151
Pretax Income	3,154,038	3,487,550	6,274,371	6,364,618	4,841,871	7,451,711
Income Tax Expense	1,134,382	1,310,434	2,271,404	2,323,428	1,360,067	2,086,257
Earnings From Continuing Operations	2,019,656	2,177,116	4,002,967	4,041,190	3,481,804	5,365,454
Earnings From Discontinued Operations	-	-	593,990	1,118,556	790,340	-
Minority Interest in Earnings	-1,203,022	-1,438,113	-2,114,072	-1,862,010	-1,922,623	-2,331,045
Net Income	816,634	739,003	2,482,885	3,297,736	2,349,521	3,034,409
Net Income to Common	816,634	739,003	2,482,885	3,297,736	2,349,521	3,034,409
Net Income Growth	150.74%	-70.24%	-24.71%	40.36%	-22.57%	4.18%
Basic Shares Outstanding	23,743	23,743	23,142	22,281	22,281	22,281
Diluted Shares Outstanding	23,743	23,743	23,142	22,281	22,281	22,281
Shares Change (YoY)	-0.01%	2.60%	3.87%	-	-0.00%	0.00%
EPS (Basic)	34.39	31.12	107.29	148.01	105.45	136.19
EPS (Diluted)	34.39	31.12	107.29	148.01	105.45	136.19
EPS Growth	150.80%	-70.99%	-27.51%	40.36%	-22.57%	4.18%
Dividend Per Share	24.000	24.000	43.200	54.000	54.000	60.000
Dividend Growth	-44.44%	-44.44%	-20.00%	0%	-10.00%	0%
Effective Tax Rate	35.97%	37.57%	36.20%	36.51%	28.09%	28.00%

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