Grupo Cibest, the holding company of Bancolombia, reported net income attributable to shareholders of COP 1,457 billion (about US$398 million) for the first quarter of 2026, down 16.15% from a year earlier and compared with a net loss of COP 1,852 billion in the fourth quarter. The group published the results on 4 May.
Annualised return on equity for the quarter was 14.89%.
WEALTH TAX AND HIGHER COSTS
The main drag was a one-off provision of COP 374 billion for the temporary wealth tax introduced under Colombia’s emergency Legislative Decree 0173 of 24 February 2026, which lifted the effective tax rate to about 33%. Provision charges rose 13.66% year on year, although they fell 15.54% from the fourth quarter, with higher charges from updated macroeconomic models partly offsetting lower commercial-segment provisions; operating expenses increased 24.4% year on year.
LENDING AND MARGINS
Gross loans reached COP 261.8 trillion, up 6.5% year on year and 2.1% on the quarter. The net interest margin widened to 7.03% from 6.64% a year earlier and 6.76% in the fourth quarter, helped by higher loan yields. The cost of risk was 1.90%, compared with 1.71% a year earlier, and the efficiency ratio was 54.5%.
Sources: Grupo Cibest, Form 6-K, 1Q26 results, 4 May 2026; La República, May 2026.
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