Grupo Cibest, the newly organised holding company that houses Colombia's largest bank Bancolombia, reported net income of COP 2.7 trillion for the second quarter of 2026, an increase of 52% on the same period a year earlier.
The result was up 87% on a quarter-on-quarter basis, according to the group's second-quarter earnings release. Gross loans reached COP 262 trillion at end-June, up 5.7% year on year but broadly flat on the quarter, with growth dampened by the peso's appreciation.
NIM EXPANSION AND DIGITAL SCALE
The group highlighted its digital franchises, with 9.5 million active digital users of the Mi Bancolombia app and 28.8 million Nequi accounts at the end of June. The net interest margin rose 91 basis points from the first quarter to 7.94%, and net interest income increased 23.84% year on year to COP 6.04 trillion.
Net loan loss provisions fell 16.75% from the first quarter to COP 1.02 trillion, which the group attributed mainly to recoveries from significant clients and lower expenses related to macroeconomic expectations. The group's 2025 net income was COP 3.8 trillion, after a COP 3.4 trillion goodwill impairment linked to the agreed sale of Banistmo.
Colombia's banking sector has been operating against a backdrop of high interest rates, with Banco de la República holding its policy rate at 12% at its July 2026 meeting. Grupo Cibest said the central bank had resumed its tightening cycle by raising the rate to 12.00%, and could raise it to 12.75% in the coming months.
NEW HOLDING STRUCTURE HOUSES BANCOLOMBIA
Grupo Cibest was set up as the new holding vehicle for Bancolombia and its affiliated financial businesses, including Nequi, Wenia and Wompi.
Bancolombia remains the largest bank in the country by assets. The group also operates in Central America through Banco Agrícola in El Salvador and BAM in Guatemala, and in Panama through Bancolombia Panamá, having completed the sale of Banistmo to Inversiones Cuscatlán at the end of June 2026.
Annualised return on equity for the quarter was 28.73%.
The group is regulated in Colombia by the Superintendencia Financiera and its shares trade on the Colombian Stock Exchange, with Grupo Cibest's American Depositary Receipts listed on the New York Stock Exchange. Full quarterly financial statements and the earnings presentation were published on the group's investor relations website alongside management's commentary. Grupo Cibest says it serves more than 32 million clients.