Grupo Aval Acciones y Valores S.A. ADR (Each representing 20 preferred shares) (AVAL) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Grupo Eval's 4Q 2023 Consolidated Results Conference Call. My name is Mandeep, and I'll be your operator for today's call. Grupo Eval Accionis y Valores S.A. is an issuer of securities in Colombia and in the United States. As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. Grupo Aval is also subject to the inspection and supervision of the Superintendency of Finance as holding company of the Aval Financial Conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Details of the calculations of the non-IFRS measures, such as ROAA and ROAE, among others, are explained when required in this report. Banco de Bogota executed a spinoff of a 75% equity stake in BAC Holding International Corp. to its shareholders, and Grupo Aval subsequently spun off its equity interest to its shareholders on March 29, 2022. On December 19, 2022, Bianco de Bogota sold 20.89% of the outstanding investment of BHI through a tender offer. As of December 31, 2022, Banco de Bogota held a 4.11% of BHI. This investment is reflected as an investment at fair value through other comprehensive income. Following the sale, the equity method recognized under the share of profit of equity-accounted investees, net of tax, between April and November was reclassified to discontinued operations. For comparability purposes of this presentation, we have reclassified BHI's equity method for the second and third quarter of 2022 to net income from discontinued operations. Banco de Bogotá's remaining 4.11% interest in BHI was disposed of in March 2023. This report includes forward-looking statements. In some cases, you can identify these forward-look...