Banco de Bogotá (BOGOTA) Q4 2025 earnings summary

Executive summary

• Net income attributable to shareholders for 2025 reached COP 1.3 trillion, with ROE at 7.5% and ROA at 0.8%, both improving year-over-year.

• Completed strategic transactions: sale of Multi Financial Group (MFG), acquisition of Itaú's retail banking business (pending approval), and spin-off of Fidubogotá's fiduciary business.

• Retail funding grew 21% (excluding Multibank), deposits rose 9.1% YoY, and sustainable loan portfolio increased by 11%.

• Digitalization advanced, with 2.5 million active digital customers and 1.6 billion digital transactions in 2025 (up 60% YoY).

• Sustainability initiatives recognized internationally, with green and social portfolios totaling COP 21.7 trillion and top ESG rankings.

Financial highlights

• Total assets reached COP 156.2 trillion, up 3.6% YoY; liabilities at COP 138.9 trillion.

• Gross loans at COP 95.5 trillion, up 5.5% YoY; deposits at COP 98.1 trillion, up 9.1% YoY, with time deposits as the largest component.

• NIM for 2025 was 4.5%, stable YoY; cost to income improved to 50.7% (down 111 bps YoY).

• Fee income ratio at 24.3%, down 2.8 ppts YoY; efficiency ratio improved.

• Net cost of risk was 2% for 2025; 30-day PDLs at 4.9%, 90-day PDLs at 3.7%.

Outlook and guidance

• 2026 guidance: loan growth ~14% (including 6-8% inorganic), NIM ~4.7%, net cost of risk ~2%, fee income ratio ~21%, cost to income ~51%, cost to assets ~2.5%, ROE 7.5%-8.5%.

• Long-term ROE target is 13-14% within 2-3 years, aiming for double-digit ROE by end of 2026.

• Equity tax will impact 2026 results by COP 140 billion.

• Loan growth focus on consumer and mortgage segments; deposit growth to maintain strong funding mix.

• Ongoing efficiency initiatives and prudent risk management highlighted.