Grupo Cibest S.a. · BVC:CIBEST
Grupo Cibest — Q1 2025 Earnings Presentation
26 slides from Grupo Cibest's earnings presentation, May 6, 2025
Slide 1: Earnings Results 1Q25
Earnings Results 1Q25 = Bancolombia a”
Slide 2: 1Q25 Overview
1Q25 Overview • Net income COP 1.7 trillion and NIM 6.4% • ROE 16.3% ; ROTE 20.4% Financial Highlights • Loan book down -0.3% QoQ and up 7.0% YoY • Deposits down -1.1% QoQ and up 12.8% YoY • Basel III CET1 Capital Ratio of 11.16% and Total Capital Ratio of 12.91% • Net provision charges amounted to
Slide 3: Colombia’s Economic Outlook
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, Despite government efforts to curb fiscal path with estimated GDP growth of 2.6% but at a slower pace, reach
Slide 4: Enhanced value proposal for financial inclusion
Enhanced value proposal for financial inclusion Nequi + Bancolombia a la Mano = ONLINE • Financial inclusion value proposal delivered under BANKING Enhanced value one single platform proposal • Robust digital ecosystem with new payment PHYSICAL features and access to credit CHANNELS • Cross selling
Slide 5: Strong franchise underpinned on a universal banking model
Strong franchise underpinned on a universal banking model Retail Deposits Market Share* Credit Cards Loans Market Share 15.4% 21.9% 25.1% 25.8% 4.1% 21.5% 21.7% 26.9% 24.7% 4.8% Dec-21 Bancolombia 0.7% 0.9% Dec-21 Feb-25 7.3% Feb-25 1.1% 13.6% Banco Davivienda 6.7% 4.1% 6.2% 14.5% 15.3% BBVA Colombi
Slide 6: Regional operation overview
Regional operation overview CoR ROE 3.5% 2.9% 21.6% 3.0% 21.8% 21.4% 2.5% 2.5% 22.7% 2.5% 2.3% 18.5% 2.3% 1.6% 2.2% 17.8% 16.2% 2.0% 1.7% 1.4% 15.4% 15.0% 16.2% 2.0% 1.4% 1.8% 1.7% 1.5% 1.5% 1.6% 1.3% 9.9% 12.3% 9.4% 1.2% 9.5% 1.0% 1.1% 5.5% 7.4% 0.8% 0.5% 3.2% 1.9% 3.8% 0.2% 0.2% 0.0% 1Q24 2Q24 3Q2
Slide 7: A well-balanced loan book
A well-balanced loan book * Commercial Consumer Mortgage Corporate SME Financial leases Credit cards Auto loans Payroll loans VIS* Non-VIS Average $39.8 Microloans Average $176.6 Personal loans Average $54.8 39.5 41.8 42.0 169.4 174.4 175.3 181.9 182.0 37.0 38.7 64.0 53.9 55.0 54.8 55.8 54.6 27.4 1.
Slide 8: Sustained funding cost reduction despite increased competition
Sustained funding cost reduction despite increased competition Time Deposits, Savings Accounts & Checking Accounts Funding Mix* 308 124.7 124.1 Savings Accounts 274 286 288 301 106.6 106.9 111.2 108.6 111.8 109.8 111.3 1Q25/1Q24 16.4% 5.3% 5.3% 4.7% 4.7% 5.3% 4.2% 100.2 5.6% 5.0% 3.7% 3.6% 1Q25/4Q24
Slide 9: Well positioned for the interest rate cycle
Well positioned for the interest rate cycle Net Interest Income Asset and liability management Colombia* 5,186 1.0 5,159 5,152 5,023 5,064 3.5 5.4 4.0 5.4 Net interest Income 32.4 1Q25/1Q24 -1.8% 26.2 24.4 23.8 4,819 4,708 1Q25/4Q24 0.8% 21.1 4,946 4,635 4,763 444 388 340 240 301 -24.4 -24.0 -27.1 -
Slide 10: Our business model fosters growth on other income sources
Our business model fosters growth on other income sources Net Fee Income evolution 2,500 25.0% 20.3% 18.0% 19.0% 17.4% 17.1% 20.0% 2,000 15.0% 1,500 10.0% Net Fee Income 1,948 2,086 1,921 5.0% 1Q25/1Q24 0.5% 1,903 1,000 1,752 0.0% 1Q25/4Q24 -6.1% 500 1,001 1,042 1,038 1,084 1,018 -5.0% 0 -10.0% 1Q24
Slide 11: Lower provisions on the back of lower loan deterioration
Lower provisions on the back of lower loan deterioration Asset Quality Evolution Provisions Breakdown 2.5% 2.4% 2,520 2.0% 3.0% 1.3% 1.6% 2.0% 2,020 1,619 1,589 1,315 154 34 1.0% 1Q24 2Q24 3Q24 4Q24 1Q25 Net Provision Charges 56 364 930 1,100 1,520 384 0.0% 12,357 13,299 13,503 13,290 13,002 275 182
Slide 12: Effective operating expenses control
Effective operating expenses control Operating expenses Main Opex contributors 3,796 24% 3,300 3,347 3,502 Total Operating Expenses 15% 12% 3,179 8% 1Q25/1Q24 9.8% 7% 7% 1,533 1% 2% 2% 1,348 1,412 1,531 1Q25/4Q24 -7.7% 1,335 Administrative Expenses 0% -1% -8% 2,263 1Q25/1Q24 6.3% -12% 1,844 1,952 1,
Slide 13: Sound earnings generation
Sound earnings generation Net Income 2,000 1,717 1,663 1,663 1,738 1,460 1,492 1,448 1,440 1,501 1,500 1,000 500 0 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 COP Billion ROA, ROE & ROTE 35% 34% 14% 33% 32% 31% 30% 29% 12% 28% 23.8% 27% 26% 22.2% 21.7% 21.8% 25% 24% 10% 20.5% 20.0% 20.0% 20.4% 23%
Slide 14: Strong capital position
Strong capital position Shareholders´ Equity Core Equity Tier I and Total Capital Evolution 14.35% 13.75% Shareholders´ Equity 12.91% 1Q25/1Q24 11.4% 12.60% 12.31% 1Q25/4Q24 -6.7% 11.89% 11.58% 43,542 10.98% 11.16% 40,899 40,634 10.45% 39,220 36,486 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25
Slide 15: Sustainability
Sustainability Businesses with purpose Sustainability framework** Environmental Economic Social Climate Financing MERCO En - Campo COP 500 Tn – *Our goal for 2030 2020 Bancolombia has been Rural Impact recognized for the sixth COP 24.8 Tn time by MERCO as the Businesses 2021 company with the highest
Slide 16: Our 2025 Guidance
Our 2025 Guidance 2025 Loan Growth Around 5% 2025 Macroeconomic assumptions NIM Around 6.2% GDP Growth: 2.6% Inflation Rate: 4.4% CoR 1.8%-2% Central Bank Policy Rate: 7.5% Efficiency Around 51% ROE 14.5%-15% CET1
Slide 17: 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 18: Earnings Results 1Q25
Earnings Results 1Q25 = Bancolombia a”
Slide 19: Colombia and Central America Overview
Colombia and Central America Overview 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 ▪ NIM 8.12% 7.23% 7.30% ▪ NIM 3.53% 3.04% 3.11% ▪ NII 4,047 3,820 3,923 ▪ NII 0,331 0,320 0,310 ▪ Net Fees Growth 0.15% 7.82% -7.35% ▪ Net Fees Growth -15.40% -20.59% 2.01% ▪ ROAE 18.46% 15.04% 16.24% ▪ ROAE 9.47% 0.19% 7.39% ▪ Effi
Slide 20: Consolidating a leading regional banking platform
Consolidating a leading regional banking platform Market Share Colombia Market Share Panamá 27.9% Banco General 13.2% Bancolombia 26.5% 14.5% 15.7% Banistmo 8.4% Davivienda 7.5% 14.7% 12.7% Global Bank 6.9% Banco de Bogotá 6.0% 12.9% 11.0% BAC 6.3% BBVA 7.1% 11.6% 7.1% Banesco 4.3% Banco de Occident
Slide 21: Acquiring-Colombia
Acquiring-Colombia Credit Cards Debit Cards 10.1 12 43.0 90 9.5 360 37.6 43.0 80 8.3 10 35.5 40.0 350 37.0 70 8 34.0 31.0 60 340 28.0 6 25.0 50 68 15.0 15.3 22.0 40 2.7 2.7 2.7 4 330 355 19.0 16.0 30 13.0 2 320 20 41 47 335 14.6 335 10.0 7.0 10 0 310 4.0 1.0 -2.0 0 -2 300 -5.0 1Q24 4Q24 1Q25 1Q24 4Q
Slide 22: Assets Breakdown
Assets Breakdown Total Assets Total Gross Loans 260 TN 279 TN 279 TN 14% 10% 14.2% 14.9% 15.1% Financial assets 1Q25/1Q24 9.1% 1Q25/4Q24 -2.2% 20.8% 20.0% 19.6% investment 1Q25/1Q24 7.0% Loans 1Q25/4Q24 -0.3% 64.6% 64.6% 64.8% Other 76% 1Q24 4Q24 1Q25 Commercial Consumer Mortgage Investment Portfoli
Slide 23: Nequi
Nequi Users Active Users +21% 23.5 75% 77% 78% Monetized Users 20 72% 73% 80 21.4 1.3 BALM 18.3 19.4 20.1 20.5 70 12.5 M 22.2 NEQUI 1.2 BALM 16.4 60 15.5 17.1 NEQUI 14.7 50 14.0 40 30 Churn Rate* 10 20 18.5% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Figures in Millions Activity Active Users
Slide 24: Nequi
Nequi Loans Disbursements +408% +512% 860 422 595 311 406 247 250 157 169 69 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Figures in Billions Figures in Billions Income ARPAC-CTS +67% 4,868 4,941 4,442 255 4,214 235 4,017 200 4,380 4,460 153 168 120 137 4,146 102 3,713 3,878 83 82 98 115 118 70
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 1Q25
Earnings Results 1Q25 = Bancolombia a”