Grupo Cibest S.a. · BVC:CIBEST

Grupo Cibest — Q2 2025 Earnings Presentation

40 slides from Grupo Cibest's earnings presentation, Aug 8, 2025

  1. Slide 1: Financial Results 2Q25

    Grupo Cibest Financial Results 2Q25 ‘SEP Global

  2. Slide 2: Grupo Cibest Overview

    © Grupo Cibest Grupo Cibest Overview

  3. Slide 3: New Corporate Structure Under Grupo Cibest

    New Corporate Structure Under Grupo Cibest Key Metrics – 2Q25 Shareholders Clients: Employees: +33 millions 33,993 100.0% 100.0% 97.4% 99.7% 100.0% 100.0% 100.0% 98.8% 100.0% 100.0% 80.5% Fiduciaria Fondo Inmobiliario Panamá Puerto Rico Valores Banca de inversión Colombia Assets Liabilities Equity*

  4. Slide 4: Investment Thesis

    Investment Thesis Regional Scalable Value Financial Complementary Creation Group Business Model We are a regional financial group We operate a flexible corporate structure We are a systemic player with access to that offers client-centric that enables an efficient allocation of customer information

  5. Slide 5: Strategic Business Model

    Strategic Business Model Fully acquired in 2019, is the fourth largest Incorporated in 2019, Wompi is a payments financial institution in Guatemala, serving orchestrator that boosts online sales, in store Guatemala 617,819 retail and corporate clients with a sales and payouts enabling businesses to

  6. Slide 6: Equity Share and Return per Main Entities

    Equity Share and Return per Main Entities* % Assets Share % Equity Share 7% Net Income 7% Net Income Net Income Net Income COP 99 COP 139 COP 1,356 48% COP 33 ROE ROE ROE 11% 8% ROE 8.5% 20.0% 26.3% ** 66% 6.0% 7% 12% *** Figures in Billion as of 2Q25 Bam refers to Grupo Agromercantil Holding (GAH)

  7. Slide 7: 2Q25 Overview Highlights

    2Q25 Overview 1. Strong deposit growth at a competitive cost, heightened competition despite 3. ...which coupled with lower provisions drive Net Income and ROE growth. Highlights 2. 4. Growth in loans and Nequi´s exponential annual loan investments offset declining growth at 4.7 times fuels further

  8. Slide 8: Macro 2Q25

    © Grupo Cibest Macro 2Q25

  9. Slide 9: Colombia's Economic Outlook

    2025 Colombia’s Economic Outlook Economic Growth Inflation and Interest Rates Fiscal and External Imbalances Economic activity is on a more constructive Inflation has continued its downward trend, but Despite efforts to account for underperforming path with estimated GDP growth of 2.6% this at a slo

  10. Slide 10: Central America's Economic Outlook

    2025 Central America´s Economic Outlook El Salvador Guatemala Panamá Economic activity is expected to Economic activity is expected to remain Panama´s economy in 2024 was marked by converge toward a growth rate of 2,2%. supported by household consumption and the shutdown of copper production. This f

  11. Slide 11: Grupo Cibest's Consolidated Results 2Q25

    Grupo Cibest’s Consolidated Results 2Q25 11

  12. Slide 12: Financial intermediation drives growth and profitability

    Financial intermediation drives growth and profitability… Total Gross Loans 5% 14% 6% 268 270 279 279 280 Investment Assets* 14% 15% 15% 15% 15% Loans Total 21% 20% 20% 20% 20% Assets 2Q25/2Q24 4.4% Cash 2Q25/1Q25 0.4% 65% 65% 65% 65% 65% Other 75% 2Q24 3Q24 4Q24 1Q25 2Q25 *Investment Assets include

  13. Slide 13: Offering market and currency risk diversification

    …offering market and currency risk diversification… Commercial Loans per Entity Consumer Loans per Entity Mortgage Loans per Entity Bancolombia Banistmo Bancoagrícola* Bam* Others** Bancolombia Banistmo Bancoagrícola* Bam* Others** Bancolombia Banistmo Bancoagrícola* Bam* 184.0 12.2 12.9 14.1 12.0 1

  14. Slide 14: Strong deposit attraction capabilities across markets

    …with strong deposit attraction capabilities across markets 36.0 35.2 Total Deposits Time Deposits 111.4 2Q25/2Q24 9.6% 2Q25/2Q24 4.2% 106.9 2Q25/1Q25 2.4% 2Q25/1Q25 0.1% Total Deposits 2Q24 2Q25 111.2 Savings Accounts Checking Accounts 129.3 2Q25/2Q24 16.3% 2Q25/2Q24 2.2% 2Q25/1Q25 4.2% 2Q25/1Q25 1

  15. Slide 15: Unrivalled competitive funding

    …resulting on unrivalled competitive funding Funding Mix* Cost of Liabilities* 288 291 308 301 309 2Q24 1Q25 2Q25 12.0% 12.3% 11.5% 9.9% 10.5% Checking Accounts 0.33% 0.27% 0.34% 37.1% 37.4% 35.7% 37.0% 36.0% Savings Accounts 2.71% 2.23% 2.34% Time Deposits 8.81% 7.55% 7.61% 38.6% 38.5% 40.5% 41.3%

  16. Slide 16: Driving sound net interest margins

    …driving sound net interest margins Net Interest Income per Entity Net Interest Income 5,000 179 152 128 112 284 89 285 291 303 285 338 364 381 409 5,186 5,152 5,227 337 389 352 5,023 5,064 4,000 354 326 316 3,000 2Q25/2Q24 0.8% 2,000 4,048 3,991 3,876 3,969 4,092 4,946 4,708 4,635 4,861 4,763 2Q25/

  17. Slide 17: Business model fosters growth on other income sources

    Our business model fosters growth on other income sources and strengthens our value proposal and competitive advantage Net Fee Income evolution Net Fee Income per Entity 25.0% 20.3% 2,500 19.0% 17.7% 17.4% 17.1% 20.0% 1,200 2,000 15.0% 1,000 200 181 183 201 30 180 30 35 83 27 36 81 Net Fee Income 67

  18. Slide 18: Other income sources and competitive advantage (Cont.)

    Our business model fosters growth on other income sources and strengthens our value proposal and competitive advantage ( Cont.) 40.0 1,833 CAGR: 11% 1,900 35.0 1,427 1,440 1,700 1,255 1,500 30.0 1,075 1,300 25.0 20.2 CAGR: 5% 16.4 18.3 1,100 Active Users (Millions) 20.0 14.7 15.5 900 700 15.0 Transa

  19. Slide 19: Superior credit model built on transactional data and analytical tools

    Superior credit model built on transactional data and analytical tools... Asset Quality Evolution Loan Breakdown by Stages 50.0% 45.0% 40.0% 40.1% 41.0% 40.7% 4Q24 39.6% 40.0% 2Q24 3Q24 4Q24 1Q25 2Q25 35.0% 6.2% 6.5% 6.3% 5.9% 5.5% 6.3% 6.5% 6.0% 5.9% 5.9% Initial PDL 13,299 13,503 13,290 13,002 12,

  20. Slide 20: Preserving the balance sheet quality

    …preserving the balance sheet quality Provisions Breakdown per Entity Provisions Breakdown 1,800 1,600 46 125 90 64 76 1,400 133 54 1,200 140 2,500 2.5% 2.4% 3.0% 30 39 1,000 32 114 124 129 61 83 1.6% 1.6% 800 52 18 36 1,619 1.3% 2.0% 123 2,000 1,589 600 1,286 1,194 154 34 1.0% 400 877 813 364 659 9

  21. Slide 21: Effective operating expenses control to enhance profitability

    Effective operating expenses control to enhance profitability Operating Expenses Main Opex Contributor´s Quarterly Performance 5,000 48.8% 47.7% 53.0% 49.6% 50.7% 24% Total Operating Expenses 4,500 50.0% 3,796 4,000 3,492 3,691 3,300 3,347 12% 3,500 40.0% 2Q25/2Q24 11.8% 7% 9% 9% 9% 1,533 5% 3,000 1

  22. Slide 22: Sound earnings generation allow for dividend distribution

    Sound earnings generation allow for dividend distribution… Net Income Net Income Contribution Share per Entity 2,000 5.5% 1,738 1,791 3.0% 1,800 1,663 1,600 1,440 1,501 1,400 Net Income 7.6% 6.1% 1,200 2Q25/2Q24 24.4% 1,000 2Q25/1Q25 3.1% 800 600 77.8% 400 200 0 2Q24 3Q24 4Q24 1Q25 2Q25 Bancolombia*

  23. Slide 23: Preserving a strong capital position

    …while preserving a strong capital position Shareholders´ Equity Capital Adequacy 13.47% 13.38% 13.88% 13.21% 1.78% 2.48% Shareholders´ Equity 12% 5.78% 10% 11.5% 8% 2Q25/2Q24 5.3% 2Q25/1Q25 1.6% 13.38% 12.10% 43,542 6% 10.99% 4.5% 5% 41,294 7.43% 40,899 40,634 Double Leverage 39,220 105% Bancolombi

  24. Slide 24: Nequi: Users, Activity Ratio, Deposits and Loans

    Users and Activity Ratio Loans Deposits 40.0 85.0% 79.2% +370% +77% 78.0% 35.0 76.7% 80.0% 75.5% 1,400 1,178 6.0 5.6 30.0 72.9% 25.5 1,200 75.0% 23.5 5.0 4.4 4.4 25.0 20.1 20.5 21.4 1,000 70.0% 860 20.0 4.0 800 3.2 3.2 15.0 65.0% 595 3.0 600 60.0% 406 10.0 400 2.0 250 55.0% 5.0 200 1.0 0.0 50.0% - 0

  25. Slide 25: Sustainability

    Sustainability 2025 Businesses with purpose Sustainability framework** COP 716 Tn - *Our goal for 2030 Environmental Economic Social Climate Change FTSE MERCO 2020 COP 35.6 Tn 2021 COP 57.4 Tn - Colombians choose Bancolombia as FTSE Russell, a subsidiary of the the best company to work for in the Lo

  26. Slide 26: Final Remarks - Guidance 2Q25

    Final Remarks - Guidance 2Q25 26

  27. Slide 27: Our Guidance 2025

    Our Guidance 2025 Loan Growth Around 5.4% NIM Around 6.3% CoR 1.6%-1.8% Efficiency Around 51% ROE Around 16% GDP Growth: 2.6% 2025 Macroeconomic Inflation Rate: 5.1% Assumptions Central Bank Policy Rate: 8.25% 27

  28. Slide 28: Final Remarks

    The successful execution of our corporate evolution into Grupo Cibest reflects our strong commitment to enhancing shareholder value. Nequi is making substantial progress towards reaching breakeven in 1Q 2026. Improved asset quality supports expansion into higher-yielding consumer loan segments to fu

  29. Slide 29: Appendix

    © Grupo Cibest Appendix 29

  30. Slide 30: Corporate Evolution from an accounting perspective

    Corporate Evolution from an accounting perspective Bancolombia S.A. Standalone Statement of Financial Position (COP Million, stated under Colombian Banking GAAP) Statement of +/- Adjustments for merger with Sociedad PROFORMA Statement of Financial Position Beneficiaria BC Panamá Financial Position B

  31. Slide 31: Corporate Evolution from an accounting perspective (Cont.)

    Corporate Evolution from an accounting perspective ( Cont.) Bancolombia S.A. Standalone Statement of Financial Position (COP Million, stated under Colombian Banking GAAP) Statement of +/- Adjustments for merger with Sociedad PROFORMA Statement of Financial Position Beneficiaria BC Panamá Financial P

  32. Slide 32: Corporate Evolution from an accounting perspective (Cont.)

    Corporate Evolution from an accounting perspective ( Cont.) Bancolombia S.A. Standalone Income Statement (COP Million, stated under Colombian Banking GAAP) +/- Adjustments for merger with Sociedad Statement of Income PROFORMA Statement of Income Beneficiaria BC Panamá Bancolombia S.A. Bancolombia S.

  33. Slide 33: Corporate Evolution from an accounting perspective (Cont.)

    Statement of PROFORMA Statement of +/- Adjustments Financial Position Financial Position Grupo Cibest from Bancolombia Grupo Cibest S.A. S.A. after spin-off operation S.A. spin-off 30-04-2025 16-05-2025* ASSETS Cash and cash equivalents 4.0 1,527,432 1,527,436 Equity financial instruments 50.0 4,197

  34. Slide 34: Corporate Evolution from an accounting perspective (Cont.)

    Statement of Income +/- Adjustments from PROFORMA Statement of Income Grupo Cibest S.A. Bancolombia S.A. Grupo Cibest S.A. after spin-off 30-04-2025 spin-off operation 16-05-2025* Operating income - - - Equity method income - 2,357,726 2,357,726 Bancolombia S.A. - 2,042,792 2,042,792 Banistmo S.A. -

  35. Slide 35: Bancolombia Standalone Overview

    Bancolombia Standalone Overview Market Share Colombia Key Financial Metrics 28.0% 24.7% Bancolombia 26.5% 2Q24 1Q25 2Q25 24.8% 23.7% ▪ NIM 7.97% 7.30% 7.38% 15.5% ▪ NII 4,003 3,923 4,048 14.4% Davivienda 14.5% ▪ Net Fees Growth -3.90% -7.35% 5.2% 14.2% 15.8% ▪ ROAE 15.42% 16.24% 16.55% 12.4% ▪ Effic

  36. Slide 36: Banistmo Overview

    Banistmo Overview Market Share Panamá Key Financial Figure 13.1% 13.3% 2Q24 1Q25 2Q25 Banco General 14.5% 13.4% ▪ NIM 3.42% 3.11% 3.49% 12.0% ▪ NII 330.1 310.0 344.6 8.4% ▪ Net Fees Growth 7.4% 34.20% 2.01% 11.09% Banistmo 7.6% 7.4% ▪ ROAE 5.53% 7.39% 8.48% 7.0% ▪ Efficiency 54.01% 64.22% 59.40% 6.8

  37. Slide 37: Bancoagrícola Overview

    Bancoagrícola Overview Market Share El Salvador Key Financial Figures 24.6% 24.2% 2Q24 1Q25 2Q25 Banco Agrícola 25.0% ▪ NIM 6.89% 6.96% 7.47% 24.1% 22.2% ▪ NII 333.1 382.3 410.0 17.5% 16.7% ▪ Net Fees Growth -5.87% -8.83% 7.04% Cuscatlan (Citibank)* 17.1% 16.3% ▪ ROAE 21.72% 22.73% 19.98% 17.7% ▪ Ef

  38. Slide 38: BAM Overview

    BAM Overview Market Share Guatemala Key Financial Figures 29.1% 2Q24 1Q25 2Q25 28.3% Industrial 26.7% ▪ NIM 5.44% 4.58% 4.59% 22.8% 29.0% ▪ NII 267.2 259.9 260.6 17.4% ▪ Net Fees Growth -1.18% -14.77% 39.21% Rural 21.4% 23.1% ▪ ROAE 12.42% 3.82% 5.99% 21.1% 23.6% ▪ Efficiency 49.78% 57.17% 50.45% 11

  39. Slide 39: Disclaimer

    2025 Disclaimer This report corresponds to the interim unaudited consolidated financial information of GRUPO CIBEST S.A. and its subsidiaries (“CIBEST”) which CIBEST controls, amongst others, by owning directly or indirectly, more than 50% of the voting capital stock. This financial information has

  40. Slide 40: Financial Results 2Q25

    Grupo Cibest Financial Results 2Q25 ‘SEP Global

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