Colombia
Banking sector profile — Americas
Data as of September 2026 • TGB Intelligence Unit
Banking sector at a glance
Structure and performance
Colombia's banking system comprises 31 banks supervised by the Superintendencia Financiera de Colombia (SFC), which held COP1,137tn (about US$363bn) of assets in July 2026, around 79% of GDP. Banks account for 93.9% of credit-institution assets. Three domestic groups dominate: Grupo Cibest (Bancolombia), Grupo Aval (Banco de Bogotá, Banco de Occidente, Banco Popular and AV Villas) and Davivienda. The five largest banks — Bancolombia, Davivienda, Banco de Bogotá, BBVA Colombia and Banco de Occidente — held 74% of net loans in 2025, with Bancolombia alone at 27.6%.
Balance sheets are traditional: at end-2025 loans made up 62.4% of credit-institution assets and deposits 76% of liabilities, while investments and derivatives accounted for 23.3% of assets. Loan growth recovered to 8.2% in 2025 from 3.4% in 2024, led by mortgages (14.6%) and small-business loans (12%). The large groups, which built sizeable Central American franchises, are rebalancing: Grupo Aval sold Panama's Multi Financial Group and Grupo Cibest sold Banistmo in 2026, while Davivienda absorbed Scotiabank's operations in Colombia, Costa Rica and Panama in December 2025.
Asset quality improved in 2025: the past-due ratio of credit institutions fell to 3.8% in December from 4.7% a year earlier, and coverage of past-due loans by allowances rose to 143.4%. The capital adequacy ratio of credit institutions was 17.8%, roughly twice the 9% legal minimum. Profitability recovered unevenly: on an unconsolidated basis Bancolombia's return on equity reached 24.7% in 2025, against 12.2% at Davivienda, 7.6% at Banco de Bogotá and 6.5% at BBVA Colombia, while the former Scotiabank Colpatria, now operating as DAVIbank, remained loss-making.
The policy rate is high: Banco de la República's intervention rate has stood at 12.0% since 1 July 2026 and was held at the July meeting, keeping funding costs elevated. Digital competition is intensifying through Nubank, Lulo Bank and Revolut, and Nequi was scheduled to begin operating as a separately licensed financing company within Grupo Cibest in September 2026. Bre-B, the central bank's interoperable instant payment system launched in 2025, is reshaping retail payments. Only 57% of adults had an account in 2024, leaving substantial scope for deepening.
Structural trends
The shifts shaping banking in Colombia.
Regional retrenchment: Grupo Aval completed the sale of Multi Financial Group in March 2026 and Grupo Cibest completed Banistmo's sale in June 2026, reducing Panamanian exposure.
Consolidation: Davivienda completed its acquisition of Scotiabank's Colombian, Costa Rican and Panamanian operations on 1 December 2025, running the Colombian bank under the DAVIbank brand.
Instant payments: Bre-B, launched by Banco de la República in 2025, is scaling fast; Grupo Cibest's customers held 51 million keys, 53% of the system, at end-2025.
Asset quality recovery: credit institutions' past-due ratio fell to 3.8% in December 2025 from 4.7% a year earlier, with allowance coverage rising to 143.4%.
Leading institutions
Largest banks in Colombia by total assets.
| # | Bank | Total assets (US$) | Type |
|---|---|---|---|
| 1 | Bancolombia (Grupo Cibest) | US$101.5bn | Universal |
| 2 | Grupo Aval | US$92.9bn | Universal |
| 3 | Banco Davivienda | US$59.8bn | Universal |
| 4 | BBVA Colombia | US$29.0bn | Commercial |
| 5 | Banco Agrario de Colombia | US$10.7bn | State-owned |
| 6 | Itaú Colombia | US$7.7bn | Commercial |
Total assets at 31 December 2025, converted at TRM COP3,757.08/US$: consolidated for Bancolombia, Grupo Aval and Banco Davivienda; separate-entity figures reported to the SFC for BBVA Colombia, Banco Agrario and Itaú Colombia
Supervision and capital rules
The SFC is an integrated supervisor of banks, insurers, pension funds and securities firms, while Banco de la República sets monetary policy, acts as lender of last resort and operates payment infrastructure including Bre-B. Prudential rules are consolidated in Decree 2555 of 2010; Decree 1477 of 2018 aligned capital definitions with Basel III and sets a 9% minimum total solvency ratio, with additional buffers. The SFC's net stable funding ratio (CFEN) requires 100% for Group 1 banks and 80% for Group 2 banks. Fogafín insures deposits up to COP50 million per depositor per institution, regardless of the number of accounts. Nubank and Nequi operate under financing-company licences rather than full banking licences.
What changed in 2026
- In March 2026 Grupo Aval completed the sale of Panama's Multi Financial Group to a BAC Holding subsidiary for US$464m.
- In June 2026 Grupo Cibest completed the sale of Banistmo to La Hipotecaria, a subsidiary of Inversiones Cuscatlán, agreed in December 2025 at US$1.418bn.
- In July 2026 Banco de la República's board held the intervention rate at 12.0%, the level in force since 1 July.
- In September 2026 Nequi was due to begin operating as a separately licensed financing company within Grupo Cibest, independent of Bancolombia.
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