Grupo Cibest S.a. · BVC:CIBEST
Grupo Cibest — Q3 2024 Earnings Presentation
26 slides from Grupo Cibest's earnings presentation, Nov 8, 2024
Slide 1: Earnings Results 3Q24
Earnings Results 3Q24 = Bancolombia a”
Slide 2: 3Q24 Overview
3Q24 Overview • Loan book up 0.5% QoQ and 4.6% YoY • Deposits up 0.7% QoQ and 6.7% YoY Financial Highlights • NIM 6.8% • Net income COP 1.5 trillion, ROE 15.0% and ROTE 20.0% • Basel III CET1 Capital Ratio of 11.58% and Total Capital Ratio of 14.35% • Net provision charges amounted to 1.6 trillion d
Slide 3: Colombia's Economic Outlook
Colombia’s Economic Outlook Economic Growth Inflation and Interest Rates Fiscal and External Imbalances Our GDP growth forecast was revised Inflation continued its downward trend The government presented a more realistic MTFO* upward to 1.8% this year and 2.6% for (5.8% as of September) but remains
Slide 4: Scalability to develop a low-cost advantage
Scalability to develop a low-cost advantage Users Active Users +16% Monetized 70% 72% 72% 73% 76% 20.1 20.5 20 80 Users* 18.6 19.4 17.6 14.7 15.5 10.5 M 13.4 14.0 60 12.4 10 40 20 0 0 Churn Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Rate*** Figures in millions Figures in millions Ac
Slide 5: Loan originations as a powerful source towards its path to profitability
Loan originations as a powerful source towards its path to profitability Loans Disbursements +187% +580% 406 247 250 157 154 169 141 66 69 36 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Cop Billion Cop Billion Pillar 2 Income ARPAC-CTS Interoperable multichannel +45% platform and dig
Slide 6: Our regional operation provides diversification
Our regional operation provides diversification Loan Share by Geography NIM *Excludes offshore operations *Excludes offshore operations CoR Net Income Contribution **Includes offshore operations ***Includes (Renting, Investment Banking, Brokerage) GAH as a holding refers to the operation of BAM in G
Slide 7: A well-balanced loan book with mortgages driving growth
A well-balanced loan book with mortgages driving growth... * 38.7 39.5 163.1 169.4 174.4 175.3 36.2 36.3 37.0 165.6 56.0 54.6 53.9 55.0 54.8 COP Trillion COP Trillion *VIS refers to low-income housing COP Trillion Loan Portfolio Growth
Slide 8: Ample access to deposits sources proving our low-cost competitive advantage
Ample access to deposits sources proving our low-cost competitive advantage Time Deposits, Saving Accounts & Checking Accounts Funding Mix* 277 280 274 286 288 COP Trillion COP Trillion *Share of each liability that represent a source of funding Funding Cost Cost of Deposits vs Interest Rates (Colom
Slide 9: Well positioned for the interest rate cycle
Well positioned for the interest rate cycle Net Interest Income Time Deposits Maturity 5,235 5,159 5,186 5,152 4,851 Net interest Income 3Q24/3Q23 6.2% 33% 3Q24/2Q24 -0.7% 67% > 1 year < 1 year COP Billion Net Interest Margin *NIM including FX is an internal performance ratio
Slide 10: Our business model fosters growth on other income sources
Our business model fosters growth on other income sources Net Fee Income evolution Net Fee Income 3Q24/3Q23 8.4% 3Q24/2Q24 -0.3% COP Billion *Fee Income Ratio= Net Fee Income/ Total Net Operating Income Total Net Operating Income = Net Interest Income (after impairment charges) + Net Fee Income + To
Slide 11: Provisions supporting allowances and coverage
Provisions supporting allowances and coverage Asset Quality Evolution Provisions Breakdown 3Q23 4Q23 1Q24 2Q24 3Q24 Net Provisions Charges Initial PDL 11,840 12,215 12,357 13,299 13,503 3Q24/3Q23 -1.3% New PDL* 1,921 1,832 2,420 1,780 1,469 3Q24/2Q24 -1.8% Charge-offs -1,546 -1,690 -1,478 -1,576 -1,
Slide 12: With a sustained reduction in loan deterioration
With a sustained reduction in loan deterioration Consumer Deterioration Evolution*- Colombia 90 days – PDL Consumer Loans - Colombia 8.7% 2.3% As % of Total Loans 2.6% 3.8% 18.6% in Colombia COP Billion *Quarterly Deterioration Indicator = (Quarterly PDLs Delta + Quarterly Charge-offs)/Previous Quar
Slide 13: Effective operating expenses control program
Effective operating expenses control program Operating expenses Main Opex contributors 3,242 3,457 3,179 3,300 3,347 Total Operating Expenses 3Q24/3Q23 3.2% Other taxes 3Q24/2Q24 1.4% Administrative Expenses 3Q24/3Q23 1.4% 3Q24/2Q24 -0.8% Personnel Expenses 3Q24/3Q23 5.8% 3Q24/2Q24 4.7% COP Billion
Slide 14: Sound earnings generation
Sound earnings generation Net Income COP Billion ROA, ROE & ROTE
Slide 15: Strong capital position
Strong capital position Shareholders´ Equity Core Equity Tier I and Total Capital Evolution COP Billion Core Equity Tier I Variation Components (QoQ) Capital Adequacy 19.95% 14.76% 14.35% 14.77% 14.41% 12% 10% 11.5% 8% 6% 4.5% 5% 60 bps increase QoQ Tier I Min Requirement Total Solvency Requirement
Slide 16: Sustainability
Sustainability Businesses with purpose Sustainability framework Environmental Economic Social Climate Week Emerging Rural System in COP 500 Tn – *Our goal for 2030 New York Latam Fintech Market Nariño 2020 Bancolombia participated Bancolombia, was COP 24.8 Tn in the Climate Week NY, present at the L
Slide 17: Our 2024 & preliminary 2025 Guidance
Our 2024 & preliminary 2025 Guidance Previous New 2025 Around 4.3% in COP Around 2.8% in COP Around 7.2% in COP 2024 Macroeconomic Loan Growth and 7.7% in USD and 6.8% in USD and 1.3% in USD assumptions NIM Around 6.8% Around 6 % GDP Growth: 1.8% CoR 2.2% - 2.4% Around 2.2% 1.9%-2.1% Inflation Rate:
Slide 18: Investment Thesis
Investment Thesis We deliver integrated solutions under a client centric Our continuous investment in leading edge technology approach that nourishes preference & loyalty on a rapid and innovative operational capabilities support our growing client base. business evolution and unlocks profitability.
Slide 19: Earnings Results 3Q24
Earnings Results 3Q24 = Bancolombia a”
Slide 20: Colombia and Central America Overview
Colombia and Central America Overview 3Q23 2Q24 3Q24 3Q23 2Q24 3Q24 ▪ NIM 7.90% 7.97% 7.67% ▪ NIM 3.54% 3.42% 3.44% ▪ NII 3,839 4,003 3,934 ▪ NII 0,344 0,330 0,348 ▪ Net Fees Growth -1.47% -3.9% 1.5% ▪ Net Fees Growth -0.44% 34.20% -20.22% ▪ ROAE 15.86% 15.42% 16.17% ▪ ROAE 8.59% 5.53% 3.21% ▪ Effic
Slide 21: Consolidating a leading regional banking platform
Consolidating a leading regional banking platform Market Share Colombia Market Share Panamá Bancolombia 27.5% 13.3% Banco General 25.5% 14.6% Davivienda 15.6% Banistmo 9.2% 14.6% 7.9% 12.8% Global Bank 7.3% Banco de Bogotá 13.1% 7.0% 11.3% BAC 6.2% BBVA 6.1% 11.8% 7.1% Banesco 4.4% Banco de Occident
Slide 22: Acquiring-Colombia
Acquiring-Colombia Credit Cards Debit Cards Market Share* Market Share* Outstanding Credit Cards Credit Cards Value of Transactions Outstanding Debit Cards Debit Card Value of Transactions *Market Share as of May 2024. Source: Superintendencia Financiera de Colombia.
Slide 23: Assets Breakdown
Assets Breakdown Total Assets Total Gross Loans Financial assets 260 TN 268 TN 270 TN investment 10% 3Q24/3Q23 4.5% Other 3Q24/2Q24 0.4% 14% 3Q24/3Q23 4.6% 3Q24/2Q24 0.5% Loans 76% Investment Portfolio Total Gross Loans by Currency Type of security Break Down 21% 25% 35% Investment Portfolio: 16% 10
Slide 24: Bancolombia a la Mano
Bancolombia a la Mano Deposits Pre-Approved Loans Balance A LA MANO COP 144k/User COP 121k/User COP 140k/User COP Billion COP Billion Loans Balance Users NPS 3Q24: +6 Million 3Q24: 56.5% Activity Indicator 3Q24: 45% (30 d) COP Billion
Slide 25: Disclaimer
Disclaimer This report corresponds to the interim unaudited consolidated financial statements of BANCOLOMBIA S.A. and its subsidiaries (“BANCOLOMBIA” or “The Bank”) which Bancolombia controls, amongst others, by owning directly or indirectly, more than 50% of the voting capital stock. These financia
Slide 26: Earnings Results 3Q24
Earnings Results 3Q24 = Bancolombia a”