Banco de Bogotá (BOGOTA) Q3 2025 earnings summary

Executive summary

• Net income attributable to shareholders for Q3-2025 was COP 390.3 billion, up 3.3% year-over-year, with ROA at 1.0% and ROE at 9.1%.

• NIM held steady at 4.3% quarter-over-quarter; fee income ratio was 24.9%.

• Loan quality improved, with 30-day PDLs at 5.1% and 90-day PDLs at 3.6%, both decreasing sequentially.

• Major divestment of Multifinancial Group (MFG) to BAC International for $459 million at 1.03x book value, expected to close by February 2026.

• Digital strategy advanced, with nearly 400 million digital transactions in the quarter and 3.9 million active digital keys.

Financial highlights

• Total assets reached COP 156 trillion, up 6% year-over-year and 1.8% quarter-over-quarter.

• Gross loans at COP 109.4 trillion, up 2.5% quarter-over-quarter and 4.8% year-over-year.

• Deposits at COP 106.1 trillion, down 0.8% quarter-over-quarter but up 9.8% year-over-year.

• Net interest income for Q3-2025 was COP 1,331.4 billion, up 7.1% year-over-year.

• Operating expenses at COP 991 billion, down 5.4% quarter-over-quarter.

Outlook and guidance

• Loan growth expected at 4%-5% for 2025 (7% excluding FX), and 9%-10% for 2026.

• NIM guidance: 4.2% for 2025, 4.6% for 2026.

• Net cost of risk: 1.9% for 2025, 2.1% for 2026.

• ROE guidance: ~8% for 2025, 9%-10% for 2026; long-term sustainable ROE targeted at 13% within 2-3 years.

• Cost to income ratio expected at 51%-52% for 2025 and 2026.