Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Document Information [Line Items] | |
Entity Central Index Key | 0001504764 |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2023 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-36631 |
Entity Registrant Name | GRUPO AVAL ACCIONES Y VALORES S.A. |
Entity Incorporation, State or Country Code | F8 |
Entity Address, Address Line One | Carrera 13 No. 26A - 47 |
Entity Address, City or Town | Bogotá D.C. |
Entity Address, Country | CO |
Entity Common Stock, Shares Outstanding | shares | 7,541,763,255 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Address, Postal Zip Code | 110311 |
Auditor Name | KPMG S.A.S |
Auditor Firm ID | 5070 |
Auditor Location | Bogotá Colombia |
Preference shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Preferred Shares, par value Ps 1.00 per preferred share |
Entity Listing, Par Value Per Share | $ 1 |
Security Exchange Name | NYSE |
Trading Symbol | True |
Preference shares [member] | ADR [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares, each representing 20 preferred shares, |
Entity Listing, Depository Receipt Ratio | 20 |
Entity Listing, Par Value Per Share | $ 1 |
Security Exchange Name | NYSE |
Trading Symbol | AVAL |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Jorge Adrián Rincón |
Entity Address, Address Line One | Carrera 13 No. 26A – 47 |
Entity Address, City or Town | Bogotá D.C. |
Entity Address, Country | CO |
Country Region | +57 |
City Area Code | 601 |
Local Phone Number | 743-3222 |
Contact Personnel Email Address | jrincon@grupoaval.com |
Entity Address, Postal Zip Code | 110311 |
Other Address [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Manuel Garciadiaz |
Entity Address, Address Line One | Davis Polk & Wardwell LLP |
Entity Address, Address Line Two | 450 Lexington Avenue |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
City Area Code | 212 |
Local Phone Number | 450-4000 |
Entity Address, Postal Zip Code | 10017 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | $ 18,597,861 | $ 17,032,857 |
Trading assets | 15,451,121 | 11,841,407 |
Investment securities | 34,425,693 | 33,674,477 |
Hedging derivative assets | 48,662 | 20,854 |
Loans: | ||
Commercial | 107,440,424 | 110,742,842 |
Consumer | 59,999,611 | 59,419,444 |
Mortgages | 18,486,206 | 17,883,355 |
Microcredit | 277,529 | 267,720 |
Loans | 186,203,770 | 188,313,361 |
Loss allowance | (10,035,715) | (9,197,514) |
Total loans, net | 176,168,055 | 179,115,847 |
Other accounts receivable, net | 25,617,225 | 23,380,573 |
Non-current assets held for sale | 101,184 | 92,830 |
Investments in associates and joint ventures | 1,290,683 | 1,423,343 |
Tangible assets: | ||
Property, plant and equipment for own-use and given in operating lease, net | 4,521,792 | 4,812,254 |
Right-of-use assets | 1,336,957 | 1,329,594 |
Investment properties | 906,469 | 880,963 |
Biological assets | 230,672 | 212,630 |
Total Tangible assets | 6,995,890 | 7,235,441 |
Intangibles | ||
Concession arrangement rights | 13,557,267 | 13,242,706 |
Goodwill | 2,202,222 | 2,248,217 |
Other intangible assets | 2,382,427 | 2,040,158 |
Total Intangibles | 18,141,916 | 17,531,081 |
Income tax assets: | ||
Current | 2,596,837 | 1,782,658 |
Deferred | 1,280,912 | 1,851,218 |
Total Income tax assets, net | 3,877,749 | 3,633,876 |
Other assets | 465,557 | 608,650 |
Total assets | 301,181,596 | 295,591,236 |
Liabilities | ||
Trading liabilities | 2,154,361 | 1,757,606 |
Hedging derivative liabilities | 217,566 | 3,568 |
Customer deposits: | ||
Checking accounts | 23,809,859 | 25,932,053 |
Savings accounts | 71,149,883 | 74,293,894 |
Time deposits | 86,597,460 | 72,273,697 |
Other | 430,194 | 841,505 |
Total deposits from customers | 181,987,396 | 173,341,149 |
Financial obligations: | ||
Interbank borrowings and overnight funds | 15,081,920 | 9,087,921 |
Borrowings from banks and others | 22,218,460 | 30,309,358 |
Bonds issued | 23,427,826 | 28,362,221 |
Borrowings from development entities | 4,813,133 | 4,357,275 |
Total borrowings | 65,541,339 | 72,116,775 |
Provisions: | ||
Legal related | 217,689 | 229,193 |
Non legal related | 865,594 | 997,978 |
Total Provisions | 1,083,283 | 1,227,171 |
Income tax liabilities: | ||
Current | 268,347 | 228,817 |
Deferred | 5,546,640 | 5,062,670 |
Total Income tax liabilities | 5,814,987 | 5,291,487 |
Employee benefits | 907,808 | 890,019 |
Other liabilities | 11,954,440 | 10,141,802 |
Total liabilities | 269,661,180 | 264,769,577 |
Equity | ||
Subscribed and paid-in capital | 23,744 | 23,744 |
Additional paid-in capital | 9,571,374 | 9,571,374 |
Retained earnings | 7,731,773 | 8,018,417 |
Other comprehensive income | (544,219) | (1,146,565) |
Equity attributable to owners of the parent | 16,782,672 | 16,466,970 |
Non-controlling interests | 14,737,744 | 14,354,689 |
Total equity | 31,520,416 | 30,821,659 |
Total liabilities and equity | $ 301,181,596 | $ 295,591,236 |
Consolidated Statement of Incom
Consolidated Statement of Income - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest income calculated using the effective interest method | |||
Loan portfolio | $ 26,534,115 | $ 17,559,516 | $ 11,882,144 |
Investments in debt securities | 2,385,289 | 1,843,516 | 909,265 |
Total interest income | 28,919,404 | 19,403,032 | 12,791,409 |
Interest expense | |||
Deposits | (16,214,226) | (7,756,432) | (2,637,945) |
Financial obligations | (6,418,204) | (3,907,963) | (2,022,885) |
Total interest expense | (22,632,430) | (11,664,395) | (4,660,830) |
Net interest income | 6,286,974 | 7,738,637 | 8,130,579 |
Impairment (losses) recoveries on financial assets | |||
Loans and other accounts receivable | (4,751,039) | (3,120,403) | (3,192,335) |
Other financial assets | 12,871 | (16,723) | (660) |
Recovery of charged-off financial assets | 555,774 | 643,978 | 471,912 |
Net impairment loss on financial assets | (4,182,394) | (2,493,148) | (2,721,083) |
Net interest income, after impairment losses | 2,104,580 | 5,245,489 | 5,409,496 |
Income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 |
Expenses from commissions and fees | (1,003,813) | (970,676) | (731,742) |
Net income from commissions and fees | 3,352,523 | 2,903,763 | 3,064,187 |
Income from sales of goods and services | 11,223,556 | 12,141,327 | 10,450,914 |
Costs and expenses of sales goods and services | (8,005,597) | (7,596,231) | (7,351,979) |
Gross profit from sales of goods and services | 3,217,959 | 4,545,096 | 3,098,935 |
Net trading (loss) income | (916,049) | 1,559,626 | 922,281 |
Net income from other financial instruments mandatorily at FVTPL | 323,685 | 278,751 | 270,095 |
Other income | 3,751,306 | (848,571) | 389,680 |
Other expenses | (8,346,454) | (7,409,783) | (6,790,056) |
Net income before tax expense | 3,487,550 | 6,274,371 | 6,364,618 |
Income tax expense | (1,310,434) | (2,271,404) | (2,323,428) |
Net income from continuing operations | 2,177,116 | 4,002,967 | 4,041,190 |
Net income from discontinued operations, net of tax | 866,166 | 1,627,312 | |
Net income for the year | 2,177,116 | 4,869,133 | 5,668,502 |
Net income for the year attributable to: | |||
Net income attributable to owners of the parent - Net income for the period from continuing operations | 739,003 | 1,888,895 | 2,179,180 |
Net income attributable to owners of the parent - Net income for the period from discontinued operations, net of tax | 593,990 | 1,118,556 | |
Net income attributable to owners of the parent - Owners of the parent | 739,003 | 2,482,885 | 3,297,736 |
Net income attributable to non-controlling interests - Net income for the period from continuing operations | 1,438,113 | 2,114,072 | 1,862,010 |
Net income attributable to non-controlling interests - Net income for the period from discontinued operations, net of tax | 272,176 | 508,756 | |
Net income attributable to non-controlling interests - Non-controlling interests | 1,438,113 | 2,386,248 | 2,370,766 |
Net income for the year | $ 2,177,116 | $ 4,869,133 | $ 5,668,502 |
Net income per share basic (in Colombian pesos, see note 25) | $ 31.12 | $ 107.29 | $ 148.01 |
Net income per share diluted (in Colombian pesos, see note 25) | $ 31.12 | $ 107.29 | $ 148.01 |
Consolidated Statement of Other
Consolidated Statement of Other Comprehensive Income - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net income for the year | $ 2,177,116 | $ 4,869,133 | $ 5,668,502 |
Items that will be reclassified to profit or loss | |||
Net gain (loss) on hedges of net investments in foreign operations - Hedged items | (797,514) | (6,675,329) | 2,565,637 |
Net gain (loss) on hedges of net investments in foreign operations - Hedging derivative instrument | 4,051,499 | (403,983) | |
Net gain (loss) on hedges of net investments in foreign operations - Hedging non-derivative instrument | 760,997 | 2,549,821 | (1,198,919) |
Cash flow hedges | (35,923) | (2,396) | 7,980 |
Foreign currency translation differences from unhedged foreign operations | (409,671) | 1,356,213 | (180,798) |
Unrealized gains (losses) on securities at FVOCI - Debt financial instruments | 1,795,666 | (2,187,495) | (1,346,315) |
Investments in associates and joint ventures | (35,892) | 81,730 | (846) |
Income tax expense | (818,733) | (1,926,071) | 1,089,263 |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 458,930 | (2,752,028) | 532,019 |
Items that will not be reclassified to profit or loss | |||
Transfer from owner-occupied property to investment property | (1,963) | 461 | 4,718 |
Unrealized gains (losses) on equity securities at FVOCI | 156,383 | (439,150) | (110,397) |
Actuarial (losses) gains from defined benefit pension plans | (56,324) | 95,819 | 61,665 |
Income tax expense | 5,501 | (67,977) | (35,246) |
Total other comprehensive income that will not be reclassified to profit or loss, net of tax | 103,597 | (410,847) | (79,260) |
Other comprehensive income, net of taxes | 562,527 | (3,162,875) | 452,759 |
Total comprehensive income, net of taxes | 2,739,643 | 1,706,258 | 6,121,261 |
Total comprehensive income for the year attributable to: | |||
Owners of the parent | 1,341,349 | 219,138 | 3,552,905 |
Non-controlling interests | 1,398,294 | 1,487,120 | 2,568,356 |
Total comprehensive income, net of taxes | $ 2,739,643 | $ 1,706,258 | $ 6,121,261 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - COP ($) $ in Millions | Equity attributable to owners of parent [member] | Subscribed and paid-in capital | Additional paid - in capital | Retained earnings [member] | Accumulated other comprehensive income [member] | Non-controlling interest | Total |
Balance at Dec. 31, 2020 | $ 20,657,298 | $ 22,281 | $ 8,470,870 | $ 11,302,134 | $ 862,013 | $ 14,782,259 | $ 35,439,557 |
Issuance of shares | 120 | 120 | |||||
Dividends declared in cash | (1,203,175) | (1,203,175) | (870,500) | (2,073,675) | |||
Equity transactions | 19,929 | 19,929 | (19,929) | ||||
Preferred shares | (14,302) | (14,302) | (310) | (14,612) | |||
Effect of realization | 6,738 | 6,738 | 3,567 | 10,305 | |||
Other comprehensive income | 255,169 | 255,169 | 197,590 | 452,759 | |||
Withholding Tax over dividends | (5,740) | (5,740) | (5,569) | (11,309) | |||
Net income | 3,297,736 | 3,297,736 | 2,370,766 | 5,668,502 | |||
Balance at Dec. 31, 2021 | 23,013,653 | 22,281 | 8,490,799 | 13,383,391 | 1,117,182 | 16,457,994 | 39,471,647 |
Issuance of shares | 1,083,770 | 1,463 | 1,082,307 | 572,085 | 1,655,855 | ||
Declared dividends in shares | (1,083,770) | (1,083,770) | (572,008) | (1,655,778) | |||
Dividends declared in cash | (119,405) | (119,405) | (550,390) | (669,795) | |||
Equity transactions | (1,732) | (1,732) | (13,359) | (15,091) | |||
Spin Off | (6,638,961) | (6,638,961) | (3,019,613) | (9,658,574) | |||
Effect of realization | (5,188) | (5,188) | (2,312) | (7,500) | |||
Other comprehensive income | (2,263,747) | (2,263,747) | (899,128) | (3,162,875) | |||
Withholding Tax over dividends | (535) | (535) | (4,828) | (5,363) | |||
Net income | 2,482,885 | 2,482,885 | 2,386,248 | 4,869,133 | |||
Balance at Dec. 31, 2022 | 16,466,970 | 23,744 | 9,571,374 | 8,018,417 | (1,146,565) | 14,354,689 | 30,821,659 |
Dividends declared in cash | (1,025,718) | (1,025,718) | (1,014,789) | (2,040,507) | |||
Effect of realization | 1,423 | 1,423 | 317 | 1,740 | |||
Other comprehensive income | 602,346 | 602,346 | (39,819) | 562,527 | |||
Deconsolidation of entities | (1,041) | (1,041) | (914) | (1,955) | |||
Withholding Tax over dividends | (311) | (311) | 147 | (164) | |||
Net income | 739,003 | 739,003 | 1,438,113 | 2,177,116 | |||
Balance at Dec. 31, 2023 | $ 16,782,672 | $ 23,744 | $ 9,571,374 | $ 7,731,773 | $ (544,219) | $ 14,737,744 | $ 31,520,416 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | |||
Net income before income tax | $ 3,487,550 | $ 6,274,371 | $ 8,520,297 |
Reconciliation of net income before taxes and net cash (used) provided by operating activities: | |||
Depreciation of tangible assets and right-of-use assets | 557,062 | 559,875 | 886,949 |
Amortization of intangible assets | 594,109 | 530,625 | 559,403 |
Impairment losses on loans and other accounts receivable | 4,802,074 | 3,179,476 | 4,551,160 |
Net interest income | (6,286,974) | (7,738,637) | (12,728,861) |
Accrued dividends | (126,274) | (119,888) | (159,122) |
Net gains on sales of non-current assets held for sale | (47,994) | (9,687) | (33,046) |
Gain on sale of property plant and equipment for own-use | (344,742) | (140,229) | (23,436) |
Loss on sale of investment property | 22,177 | 17,305 | 9,964 |
Gain on biological assets | (10,467) | (13,041) | (34,635) |
Valuations and interest from concession agreements | (3,916,465) | (5,136,704) | (4,158,048) |
Foreign exchange losses (gains) | (2,253,925) | 1,825,718 | (87,235) |
Profit of equity accounted on investments in associates and joint ventures | (371,397) | (372,777) | (300,217) |
Net (gains) or losses on fair value adjustments of: | |||
Derivatives | 2,581,132 | (1,529,855) | (798,187) |
Non-current assets held for sale | 268 | 76 | 3,874 |
Investment properties | (84,958) | (55,930) | (22,775) |
Biological assets | (18,601) | (56,859) | (28,546) |
Changes in operating assets and liabilities: | |||
Trading assets | (2,764,761) | 545,497 | 696,846 |
Other accounts receivable | (975,734) | (2,376,815) | (617,745) |
Derivatives | (2,091,326) | 1,379,945 | 43,979 |
Other assets | (78,251) | 121,837 | (316,886) |
Other liabilities and provisions | 1,434,088 | 462,871 | 1,912,622 |
Employee benefits | (27,517) | 7,928 | (8,388) |
Loans | (7,600,446) | (27,840,725) | (16,024,938) |
Customer deposits | 15,352,172 | 17,835,153 | 6,916,177 |
Interbank borrowings and overnight funds | 5,881,960 | (1,352,653) | 3,218,258 |
Borrowings from development entities | (240,498) | 408,018 | (1,898) |
Borrowings from banks and others | (3,864,609) | 8,719,782 | 3,509,251 |
Interest received | 26,104,288 | 16,944,928 | 19,423,325 |
Interest paid | (21,529,719) | (10,608,415) | (7,091,527) |
Interest paid on leases | (202,362) | (146,275) | (168,966) |
Income tax paid | (1,974,359) | (1,537,039) | (1,746,019) |
Net cash provided (used in) operating activities | 6,005,501 | (222,124) | 5,901,630 |
Cash flows from investing activities: | |||
Acquisition of property, plant and equipment for own use and operating lease | (589,071) | (519,368) | (664,506) |
Acquisition of investment property | (163) | (2,266) | (876) |
Additions of cost of biological assets | (26,118) | (28,368) | (27,213) |
Capitalization and payments in concession contracts | 853,778 | 452,612 | (994,639) |
Additions of others intangibles assets | (683,457) | (598,177) | (569,920) |
Acquisition of investments at FVOCI | (24,353,596) | (21,008,926) | (41,292,437) |
Proceeds from sale of investments at FVOCI | 25,675,840 | 23,492,758 | 35,457,164 |
Proceeds from sale of own property and equipment | 76,699 | 72,991 | 76,726 |
Proceeds from sale of investment properties | 111,542 | 76,306 | 67,463 |
Proceeds from sale of biological assets | 37,144 | 40,624 | 58,083 |
Proceeds from sale of non-current assets held for sale | 61,652 | 41,635 | 76,846 |
Purchases of financial assets at amortized cost | (8,016,108) | (6,914,604) | (5,743,019) |
Redemptions of financial assets at amortized cost | 8,219,792 | 6,403,372 | 6,589,962 |
Dividends received from investments | 477,568 | 411,369 | 368,964 |
Acquisition of investments in associates | (2,433) | (7,267) | (4,539) |
Capitalized leasing cost | (132) | (690) | |
Proceeds from sale of investments in associates | 2,645,914 | ||
Deconsolidation of entities | (2,290) | ||
Discontinued operation | (17,570,390) | ||
Net cash Provided (used) in investing activities | 1,840,647 | (13,012,475) | (6,601,941) |
Cash flows from financing activities: | |||
Dividends paid to shareholders | (766,537) | (414,267) | (1,230,841) |
Dividends paid to non-controlling interest | (915,933) | (615,177) | (913,356) |
Issuance of debt securities | 2,609,994 | 695,136 | 2,931,280 |
Payment of outstanding debt securities | (4,072,742) | (7,837,898) | (1,631,318) |
Leases | (391,667) | (383,472) | (472,084) |
Redemption of preferred shares | (29,751) | ||
Equity transaction | (15,014) | 120 | |
Net cash used in financing activities | (3,536,885) | (8,570,692) | (1,345,950) |
Effect of foreign currency changes on cash and cash equivalents | (2,744,259) | 3,588,921 | 4,663,555 |
Decrease in cash and cash equivalents from discontinued operations | (1,393,602) | ||
Increase (decrease) in cash and cash equivalents | 1,565,004 | (19,609,972) | 2,617,294 |
Cash and cash equivalents at beginning of year | 17,032,857 | 36,642,829 | 34,025,535 |
Cash and cash equivalents at end of year | $ 18,597,861 | $ 17,032,857 | $ 36,642,829 |
REPORTING ENTITY
REPORTING ENTITY | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of consolidated and separate financial statements explanatory [abstract] | |
REPORTING ENTITY | NOTE 1 – REPORTING ENTITY Grupo Aval Acciones y Valores S.A. (hereinafter the “The Group” or “Grupo Aval”) was established under Colombian law in January 7, 1994, with its main offices and business address registered in Bogotá, D.C., Colombia. The corporate purpose of Grupo Aval is the purchase and sale of securities issued by financial and commercial entities. Grupo Aval is the majority shareholder of Banco de Bogotá S.A., Banco de Occidente S.A., Banco Popular S.A. Banco Comercial AV Villas S.A. Corporación Financiera Colombiana S.A. Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. In performing its activities and pursuant to the corporate bylaws, Grupo Aval may (i) promote the creation of all types of companies relating to its corporate purpose; (ii) represent individuals and companies involved in similar or complementary activities; (iii) grant or receive loans with or without interest; (iv) submit its properties as collateral; (v) issue, endorse, acquire, protest, cancel, or pay bills of exchange, checks, promissory notes or any other type of financial instruments, accept or submit them as payment; (vi) acquire, sell, tax, lease or manage any kind of assets; (vii) subscribe or acquire any kind of investments and sell or otherwise dispose of them; (viii) acquire and sell shares in companies that purse similar or complementary corporate interests ; (ix) render services in areas relating to its activities, experience and knowledge; and (x) carry out or participate, in acts and contracts relating to the aforementioned activities, enabling the exercise of rights and compliance of the obligations of The Group. The duration of Grupo Aval set forth under the bylaws is until May 24, 2044, but the Company may be dissolved before such term expires, or it may be extended by free decision of Grupo Aval shareholders meeting. When preparing its consolidated financial statements, Grupo Aval Acciones y Valores S.A., directly consolidates the following entities: Banco de Bogotá S.A. Banco de Bogotá S.A., in which Grupo Aval holds 68.93% of the voting rights and 68.93% of the ownership interest as of December 31, 2023; was established as a bank on November 15, 1870. It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. The commercial purpose of Banco de Bogotá is to participate and perform all operations and contracts legally authorized to commercial banking, subject to the limitations and requirements set forth under Colombian laws and regulations. The following table presents details of Banco de Bogotá’s most significant subsidiaries which are indirectly consolidated by Grupo Aval as of December 31, 2023: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Main local direct subsidiaries Fiduciaria Bogotá S.A. Management of trust funds. Bogotá, Colombia 94.99% 65.47% Almaviva S.A. Logistics services. Bogotá, Colombia 95.81% 66.04% Megalínea S.A. Technical and administrative services Bogotá, Colombia 94.90% 65.41% Main international direct subsidiaries (*) Banco de Bogotá Panamá S.A. Commercial banking services. Panamá, Republic of Panamá 100% 68.93% Multi Financial Holding (**) Holding company of Multi Financial Group Inc. (MFG) Panamá, Republic of Panamá 100% 68.93% (*) (**) Banco de Occidente S.A. Banco de Occidente S.A., in which Grupo Aval holds 72.27% of the voting rights and 72.27% of the ownership interest as of December 31, 2023; was established as a banking entity on April 30, 1965. It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. The commercial purpose of Banco de Occidente is to participate and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements set forth under Colombian laws and regulations. The following table presents the details of Banco de Occidente’s most significant subsidiaries, which are indirectly consolidated by Grupo Aval, as of December 31, 2023: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Fiduciaria de Occidente S.A. Management of trust funds. Bogotá, Colombia 94.98% 70.86% Banco de Occidente (Panamá). S.A. Commercial banking services. Panamá, Republic of Panamá 95.00% 68.66% Occidental Bank Barbados Ltd. Commercial banking services. Barbados 100% 72.27% Banco Popular S. A. Banco Popular S. A., in which Grupo Aval holds 93.74% of the voting rights and 93.74% of the ownership interest as of December 31, 2023; was established as a banking entity on July 5, 1950. It was authorized to operate under the terms of the renewal resolution No. 3140 dated September 24, 1993 issued by the Superintendency of Finance. Its commercial purpose is to participate in and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements set forth under Colombian laws and regulations. On November 22, 2023, Grupo Aval, Banco de Bogotá S.A., Banco de Occidente S.A. and Banco Popular S.A., entered into a shareholders’ agreement pursuant to which Banco Popular S.A. will act as the controlling entity of Corporación Financiera Colombiana S.A. ("Corficolombiana S.A.") according to the terms of articles 260 and 261 of the Colombian Code of Commerce, as well as the requirements established in IFRS 10. The execution of the aforementioned agreement does not entail any change in the share ownership of Corficolombiana currently held by the parties to the agreement, nor any modification of the beneficial owner of Corficolombiana The following table presents the details of Banco Popular’s most significant subsidiaries which are indirectly consolidated by Grupo Aval, as of December 31, 2023: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Alpopular S.A. Conservation and custody of documents; transportation of products at national and international levels. Bogotá, Colombia 71.10% 66.65% Fiduciaria Popular S.A. Management of trust funds. Bogotá, Colombia 94.85% 88.91% Corporación Financiera Colombiana – Corficolombiana S.A. (1) Active management of a stock pipeline through controlled and uncontrolled investments in strategic sectors including infrastructure, energy and gas, agribusiness and hotels. Bogotá, Colombia 55.73% 40.53% (1) Corficolombiana S.A. (in which Grupo Aval and its subsidiaries own 55.73% of the aggregate voting rights and Grupo Aval has 40.53% of the ownership interest as of December 31, 2023.) Corficolombiana is a merchant bank authorized to operate by the Superintendency of Finance by the resolution of October 18, 1961. Corficolombiana´s core business is the active management of an equity portfolio through controlling and non-controlling investments in key strategic sectors that including infrastructure, energy and gas, agribusiness and hotels. The following table presents the details of Corficolombiana´s most significant subsidiaries which are indirectly consolidated by Grupo Aval, as of December 31, 2023: Total Total voting ownership Main Indirect Subsidiaries rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Promigas S.A. E.S.P. Transportation and distribution of natural gas. Barranquilla, Colombia 50.88% 20.62% Colombiana de Licitaciones y Concesiones S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Estudios y Proyectos del Sol S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Proyectos y Desarrollos Viales del Pacífico S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Concesionaria Vial Del Oriente S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Concesionaria Vial Del Pacifico S.A.S. Infrastructure projects. Sabaneta Antioquia 100% 40.53% Estudios, Proyectos e Inversiones de los Andes S.A.S. y subsidiarias Infrastructure projects. Bogotá, Colombia 100% 40.52% CFC Gas Holding S.A.S. Investment Company Bogotá, Colombia 100% 40.53% Banco Comercial AV Villas S. A. Banco Comercial AV Villas S. A., in which Grupo Aval holds 80.39% of the voting rights and 79.87% of the ownership interest as of December 31, 2023; was incorporated as a banking entity on October 24, 1972. It was authorized to operate under the terms of the renewal resolution No. 3352 dated August 21, 1992 issued by the Superintendency of Finance. The commercial purpose of Banco AV Villas is to participate and perform all operations and contracts legally authorized to commercial banks, subject to the limitations and requirements imposed by Colombian laws and regulations. The following table presents the details of Banco AV Villas’ subsidiary which is indirectly consolidated by Grupo Aval, as of December 31, 2023: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval A Toda Hora S.A. ATH ATM network services and maintenance Bogotá, Colombia 100% 78.93% Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Porvenir S.A., in which Grupo Aval and its subsidiaries own 100% of the aggregate voting rights and Grupo Aval has an economic interest of 75.76% as of December 31, 2023, was established by Public Deed No. 5307 of Notary 23 of Bogotá on October 23 of 1991, it has an operating permit granted by the Financial Superintendence of Colombia through Resolution number 3970 of October 30, 1991; Porvenir is an administrator of pension and severance funds authorized by law. The following table presents the details of Porvenir’ subsidiary which is indirectly consolidated by Grupo Aval, as of December 31, 2023: Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Aportes en Línea S.A. Technical and administrative services. Bogotá, Colombia 100% 75.18% Grupo Aval Limited Grupo Aval Limited is a 100% owned subsidiary of Grupo Aval in Cayman Islands. It was established on December 29, 2011. Grupo Aval Limited is a limited liability company registered with the Assistant of the Registrar of Companies of Cayman Islands under registry number MC-265169, with its Main Office located in Ugland House, South Church Street, George Town, Grand Cayman KY1-1104. It was constituted as a special purpose vehicle for issuing foreign debt. Likewise, the company may, as part of its corporate purpose, develop any business activity within the framework of the law. Legal and regulatory restrictions Grupo Aval and its Colombian subsidiaries are subject to the following restrictions to transfer profits or perform transactions, in accordance with the legal requirements in Colombia: ● Before distributing any dividends to their shareholders, the companies should assign 10% of their profits to a legal reserve until the reserve equals 50% of paid-in capital. ● The subsidiaries of Grupo Aval that operate in the financial sector in Colombia may not grant loans to a counterpart that exceed 10% of their regulatory capital if the loan is unsecured or 25% if it is granted with an acceptable security or third-party guarantee, as per Superintendency of Finance rules. There is an exception to this rule that extends the maximum quota up to 25% (without guarantee) when it comes to loans to fourth generation roads “4G” infrastructure projects. These same limits apply to companies which are not part of Grupo Aval. ● Pursuant to article 2.1.2.1.8 of Decree 2555 of 2010, banks in Colombia have a lending limit of 30% of their regulatory capital with respect to loans granted to financial entities. These same limits apply all financial entities. Foreign subsidiaries of Grupo Aval do not have any restriction to transfer dividends to the parent company. Lending operations in general have restrictions similar to those of banks in Colombia, as described above. Grupo Aval and its subsidiaries do not have significant restrictions on their ability to access or use their assets and settle their liabilities other than those resulting from the supervisory frameworks within which subsidiaries of the financial sector operate. The supervisory frameworks require subsidiaries of the financial sector to keep certain levels of regulatory capital (see note 4.4) and liquid assets (see note 4.3), limit their exposure to other parts of Grupo Aval and its subsidiaries and comply with other ratios. NOTE 1.1 DISCONTINUED OPERATIONS OF BAC HOLDING On March 31, 2022, a 75% equity interest in BAC Holding was spun off. As a result of the spin-off, Banco de Bogotá lost control of BAC Holding, retaining a 25% equity interest recognized as an investment in associates. On December 6, 2022, Banco de Bogotá agreed to sell its 25% equity interest in the outstanding shares of BAC Holding, under a tender offer extended by a related party on October 18, 2022. Afterwards, the Tender Offer was oversubscribed 1.20x, and as a result, Banco de Bogotá sold and transferred 20.89% of its equity interests to the related party on December 19, 2022. The remaining 4.11% ceased to be an investment in associate and was recognized as a financial asset at fair value with changes in OCI (FVOCI) (see note 9). A) SPIN-OFF BAC Holding International Corp. (BAC Holding) In March 2022, Grupo Aval completed the spin-off process that resulted in the loss of control of BAC Holding, through the subsidiary Banco de Bogotá, which at the time had a 100% of the ownership interest in BAC Holding, spinning off 75% of its shares in favor of Banco de Bogota´s shareholders and subsequently to Grupo Aval´s shareholders. The following are the impacts on assets, liabilities and equity recognized in the Consolidated Financial Statements as a result of BAC Holding´s spin-off as of March 31, 2022: Spin-off Value Total assets Ps. 111,185,832 Total liabilities 98,305,772 Non-controlling interest 1,961 BAC Holding´s equity as of March 31, 2022 Ps. 12,878,099 Spin-off percentage 75.00% Spin-off amount Ps. 9,658,574 Percentage of Grupo Aval over BAC Holding 68.74% Effect of the spin-off on owners of the parent Ps. (6,638,961) Effect of the spin-off on non-controlling interest Ps. (3,019,613) The following is the effect of the realization of Other Comprehensive Income a result of the loss of control of the subsidiary BAC Holding as of March 31, 2022: Other Comprehensive Income items which were reclassified to profit or loss Value Hedged items Ps. 6,551,200 Hedging derivative instruments (4,013,210) Hedging non-derivative instruments (2,761,143) Foreign currency translation differences from unhedged foreign operations (1,267,033) Unrealized gains on debt securities at FVOCI 98,947 Income tax expense 2,443,861 Total reclassifications of Other Comprehensive Income to profit or loss Ps. 1,052,622 Grupo Aval´s ownership over BAC Holding 68.74% Attributable to owners of the parent Ps. 723,535 Attributable to non-controlling interest Ps. 329,087 Total reclassifications of Other Comprehensive Income to retained earnings Ps. (7,735) Grupo Aval´s ownership over BAC Holding 68.74% Attributable to owners of the parent Ps. (5,317) Attributable to non-controlling interest Ps. (2,418) The following are BAC Holding´s assets and liabilities which were derecognized at their carrying values as a result of the spin off as of March 31, 2022: Assets Cash and cash equivalents Ps. 17,570,390 Trading assets 158,850 Investment securities 14,286,296 Loans, net 69,778,334 Other accounts receivable, net 915,840 Non-current assets held for sale 63,957 Tangible assets 1,899,743 Goodwill 5,902,410 Other Intangibles 196,106 Income tax assets 227,872 Other assets 186,034 Total assets Ps. 111,185,832 Liabilities and equity Liabilities Trading liabilities Ps. 904 Customer deposits 83,778,961 Financial obligations 10,938,587 Provisions 39,670 Income tax liabilities 481,239 Employee benefits 246,186 Other liabilities 2,820,225 Total liabilities Ps. 98,305,772 Owners of the parent: Equity attributable to owners of the parent 12,878,099 Non-controlling interest 1,961 Total equity 12,880,060 Total liabilities and equity Ps. 111,185,832 Income Statement of discontinued operations The following is discontinued operations Income Statement for the three-month period ended March 31 2022: From January 1, to March 31, 2022 Interest income calculated using the effective interest method Loan portfolio Ps. 1,684,995 Investments in debt securities 164,424 Total interest income 1,849,419 Interest expense Deposits Checking accounts (47,739) Savings accounts (53,608) Time deposits (324,670) (426,017) Financial obligations Interbank borrowings and overnight funds (253) Borrowings from banks and others (66,621) Bonds issued (61,195) (128,069) Net interest income 1,295,333 Impairment losses on financial assets Loans and other accounts receivable (264,926) Other financial assets (2,850) Net impairment loss on financial assets (267,776) Net interest income, after impairment losses 1,027,557 From January 1, to March 31, 2022 Income from commissions and fees 753,523 Expenses from commissions and fees (30,396) Net income from commissions and fees 723,127 Net trading income 953 Other income 291,413 Other expenses (1,274,056) Net income before tax expense 768,994 Income tax expense (224,104) Net income from discontinued operations Ps. 544,890 Net reclassifications of Other Comprehensive Income Ps. 1,052,622 Net income from discontinued operations, net of tax Ps. 1,597,512 Net income for the year attributable to: Owners of the parent Ps. 1,098,073 Non-controlling interests 499,439 Net income from discontinued operations, net of tax Ps. 1,597,512 Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). Ps. 47.45 Cash Flows of spin-off The following is the detail of the Cash Flow of discontinued operations from January 1 to March 31, 2022: March 31, 2022 Net gain discontinued operations, net of taxes Ps. (1,597,512) Reconciliation of net income before taxes and net cash provided by operating activities: Effect of realization OCI to income Ps. 1,052,622 BAC Holding Corp's participation in results 544,890 Net cash provided by operating activities Ps. - Cash flows from investing activities: Loss of control in subsidiary Ps. (17,570,390) Net cash by investing activities Ps. (17,570,390) Decrease in cash and cash equivalents Ps. (1,393,602) Decrease in cash and cash equivalents (18,963,992) Cash and cash equivalents at beginning of year Ps. 18,963,992 Cash and cash equivalents at end of year Ps. - B) SALE OF BAC HOLDING Upon completion of the 75% spin-off, BAC Holding was recognized as an investment in associates with a 25% interest and it continued to represent a geographical segment that generated significant income for the Bank through its equity participation, in the geographic area of Central America, in which said entity operates. On December 14, 2022, the Colombian Stock Exchange communicated to the market the results of the Public Offer for Acquisition (OPA was carried out by a related party controlled by the ultimate beneficial owner of the Group - see note 34) – BAC Holding´s of ordinary shares, stating the acceptance of shares at a price per share of Ps. 293 pesos. As a result of this transaction, Banco de Bogotá sold 9,030,424,454 shares for a value of Ps. 2,645,914, maintaining a 4.11% stake in BAC Holding (see note 9). The aforementioned transaction was partially financed by the Group through a loan to the acquiring entity (see note 34). The following are the details of the transaction: Disposal of BAC Holding Value BAC shares before the sale 10,805,047,272 Investment carrying amount as of April 1, (The fair value of the retained interest). Ps. 3,356,952 Equity method Share of profit of equity accounted investees, net of tax 251,660 Other Comprehensive Income, investments in associates (15,364) Other Comprehensive Income, foreign currency translation differences from hedged 930,900 Other Comprehensive Income, cumulative translation adjustment of the investments 1,439 Derecognition of BAC Holding as an investment in associate Ps. 4,525,587 Effects on the Income Statement for the period Value Derecognition of BAC Holding as an investment in associate Ps. (4,525,587) Recognition of retained interest 519,964 Consideration received 2,645,914 Amount reclassified to discontinued operations as a Share of profit of equity accounted investees, net of tax Ps. 251,660 Other Comprehensive Income items are reclassified to the Income Statement Net gain (loss) on hedges of net investments in foreign operations: Foreign currency translation differences from hedged 930,900 Non-derivative hedging instrument (900,454) Foreign currency translation differences from unhedged foreign operations 30,446 Equity method (15,364) Cumulative translation adjustment of the investments 1,439 Deferred tax 360,182 Total Other Comprehensive Income reclassifications to the Income Statement Ps. 376,703 Grupo Aval´s ownership over BAC Holding 68.93% Attributable to owners of the parent Ps. 259,644 Attributable to non-controlling interest Ps. 117,059 Total Other Comprehensive Income reclassifications to the Income Statement 376,703 Loss from discontinued operations Ps. (731,346) Cash Flows of sale December 31, 2022 Net income from discontinued operations Ps. (731,346) Effect of realization OCI to income (376,703) Net income net, tax expense Ps. (1,108,049) Changes in operating assets and liabilities 1,108,049 Net cash provided by operating activities - Net cash provided by investing activities 2,645,914 Net cash used by financing activities - Effect of foreign currency changes on cash and equivalents - Increase in cash and cash equivalents 2,645,914 Cash and cash equivalents at beginning of period Ps. - Cash and cash equivalents at end of period Ps. 2,645,914 Summary discontinued operations during the year 2022 BAC Holding Corp. (BAC Holding) Spin-off Sale Net From January 1, to March 31, December December 2022 2022 2022 Interest income calculated using the effective interest method Loan portfolio Ps. 1,684,995 Ps. — Ps. 1,684,995 Investments in debt securities 164,424 — 164,424 Total interest income 1,849,419 — 1,849,419 Interest expense Deposits Checking accounts (47,739) — (47,739) Savings accounts (53,608) — (53,608) Time deposits (324,670) — (324,670) (426,017) — (426,017) Financial obligations Interbank borrowings and overnight funds (253) — (253) Borrowings from banks and others (66,621) — (66,621) Bonds issued (61,195) — (61,195) (128,069) — (128,069) Net interest income 1,295,333 — 1,295,333 Impairment (losses) recoveries on financial assets Loans and other accounts receivable (264,926) — (264,926) Other financial assets (2,850) — (2,850) Net impairment loss on financial assets (267,776) — (267,776) Net interest income, after impairment losses 1,027,557 — 1,027,557 Income from commissions and fees 753,523 — 753,523 Expenses from commissions and fees (30,396) — (30,396) Net income from commissions and fees 723,127 — 723,127 Net trading income 953 — 953 Other income 291,413 251,660 543,073 Other expenses (1,274,056) (1,359,709) (2,633,765) Net income (loss) before tax expense 768,994 (1,108,049) (339,055) Income tax expense (224,104) — (224,104) Net income (loss) from discontinued operations Ps. 544,890 Ps. (1,108,049) Ps. (563,159) Net reclassifications of Other Comprehensive Income Ps. 1,052,622 Ps. 376,703 Ps. 1,429,325 Net income (loss) from discontinued operations, net of tax Ps. 1,597,512 Ps. (731,346) Ps. 866,166 Net income (loss) for the year attributable to: Owners of the parent Ps. 1,098,073 Ps. (504,083) Ps. 593,990 Non-controlling interests 499,439 (227,262) 272,177 Net income (loss) from discontinued operations, net of tax Ps. 1,597,512 Ps. (731,346) Ps. 866,166 Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). Ps. 47.45 Ps. (21.78) Ps. 25.67 Impact on the cash flow report: The impacts on cash flow for the periods ended are detailed below: December 31, December 31, 2022 2021 Net gain discontinued operations, net of taxes Ps. (866,166) Ps. (1,118,556) Reconciliation of net income before taxes and net cash provided by operating activities: Effect of realization OCI to income Ps. 1,429,325 - BAC Holding Corp's participation in results 796,550 1,118,556 Loss on sale of investment and recognition of retained interest (1,359,709) - Net cash provided by operating activities Ps. - Ps. - Cash flows from investing activities: Loss of control in subsidiary Ps. (17,570,390) Ps. (18,963,992) Proceeds from sale of investments in associates 2,645,914 - Net cash by investing activities Ps. (14,924,476) Ps. (18,963,992) Decrease in cash and cash equivalents Ps. (1,393,602) Ps. 838,598 Decrease in cash and cash equivalents (16,318,078) (18,125,394) Cash and cash equivalents at beginning of year Ps. 18,963,992 Ps. 18,125,394 Cash and cash equivalents at end of year Ps. 2,645,914 Ps. - |
BASIS OF PREPARATION OF THE CON
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of voluntary change in accounting policy [abstract] | |
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES | NOTE 2 – BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES The Consolidated Financial Statements of Grupo Aval have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The Consolidated Financial Statements have been prepared on the basis of historical cost, except for financial assets at Fair Value Through Profit or Loss (“FVTPL”), at Fair Value Through Other Comprehensive Income (“FVOCI”), derivative financial instruments, investment properties, non-current assets held for sale and biological assets which are measured at fair value. Additionally, non-current assets held for sale are measured at the lower value of their carrying value at the time of transfer and fair value, minus estimated costs of disposal and employee benefits which are measured at the present value of the defined benefit obligation (see note 2.22). The Consolidated Financial Statements were authorized for issuance by the Audit Committee on April 16, 2024. The following are the main accounting policies applied in preparing the Consolidated Financial Statements of Grupo Aval as of December 31, 2023, 2022 and 2021. 2.1 Basis of preparation a) The Consolidated Financial Statements are prepared as follows: ● The Consolidated Statement of Financial position presents the company´s assets and liabilities based on liquidity since it provides reliable and more relevant information than separate current and non-current classifications. ● The Consolidated Statements of Income and Other Comprehensive Income are presented separately. The Consolidated Statement of Income is presented according to the function of expenses, as this method provides reliable and more relevant information. ● The Consolidated Statement of Cash Flows is presented using the indirect method. Accordingly, net cash flows from operating activities are determined by reconciling net income before tax expense, with the effects of non-cash items, net changes in assets and liabilities from operating activities, and for any other effects that are not classified as investing or financing activities. Revenues and expenses due to interest received and paid are part of operating activities. b) Consolidated Financial Statements Grupo Aval prepares its Consolidated Financial Statements incorporating its controlled entities. Grupo Aval controls an investee if and only if it complies with the following elements: ● Power over the investee entitling Grupo Aval to direct any relevant activities that significantly affect the investee's performance. ● Exposure, or rights to variable returns from its involvement with the investee. ● Ability to affect those returns through its power over the investee. Grupo Aval carries out an annual assessment of all its contractual relationships in order to identify new controlled entities or entities where control has been lost. For the year 2023 and 2022, no new entities were identified which had to be consolidated. The financial statements for Grupo Aval´s subsidiaries are included in the consolidated financial statements since the date on which Grupo Aval acquires control or following control until the date on which control is lost. During the consolidation process, Grupo Aval combines the assets, liabilities and profits or losses of those entities under control, previously aligning the accounting policies in all the subsidiaries and translating its financial statements to Colombian Pesos. This process includes eliminating intra-group balances and transactions and any unrealized and realized income and expense (except for foreign currency translation gains or losses and those taxes which are not subject to elimination) arising from intra-group transactions. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. Non-controlling interests are presented under total equity in the Consolidated Statement of Financial Position of Grupo Aval separately from equity attributable to owners of the parent company. For consolidation purposes, the Consolidated Statements of Financial Position and Income of entities with a functional currency different form Grupo Aval are translated to Colombian pesos as follows: ● Assets and liabilities are translated at the closing exchange rate at the reporting date; ● Income, expense and cash flows are translated at the corresponding month’s average exchange rate since they approximate the exchange rates of each specific transaction; ● All resulting exchange differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve, except to the extent that the translation difference is allocated to non-controlling interests. When Grupo Aval ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. c) Investments in associates Associates are companies in which Grupo Aval has significant influence but not control and are accounted for under the equity method. They are presented in the Consolidated Statement of Financial Position as “Investments in associates and joint ventures” (see Note 2.1.(d) “Joint arrangements”). Grupo Aval exercises significant influence over another entity if it owns, directly or indirectly, 20% or more of the voting power of the investee, unless it is clearly evidenced that such influence does not exist. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the Consolidated Financial Statements include the Grupo Aval’s share of the profit or loss and OCI of equity accounted investees, until the date on which significant influence or joint control ceases. Dividends received from associates and joint ventures are recognized as a lower value in the carrying amount of the investment. In the case that Grupo Aval´s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, Grupo Aval does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between Grupo Aval and its associates are eliminated to the extent of Grupo Aval’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by Grupo Aval. The carrying amount of associates are tested for impairment. d) A joint arrangement is one in which two or more parties have joint control of the arrangement. Joint arrangements are divided into joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement, under joint operations the parties having joint control of the agreement have rights to the assets and obligations to the liabilities relating to the agreement. Under joint ventures, the parties having joint control, are entitled to the net assets of the agreement. Grupo Aval recognizes joint operations in the Consolidated Financial Statements based on their proportional and contractual participation in each of the assets, liabilities and profit or loss of the contract or entity wherein the agreement is held. Grupo Aval recognizes joint ventures through the equity method, in the same manner as investments in associates. 2.2 Functional and presentation currency Considering that the majority of the Group´s business activities as well as the generation and use of cash is in Colombian pesos, the Colombian peso is the currency that most accurately represents the economic environment of Grupo Aval’s operations, both for the Consolidated Financial Statements and for the parent company. Foreign entities have functional currencies different from the Colombian peso, which are translated to Colombian pesos for presentation purposes. The main functional currency these foreign entities is the US dollar. 2.3 Transactions in foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies in terms of historical costs are measured using the exchange rate at the transaction date. Financial instruments measured at fair value are converted using the exchange rate at the date the fair value was determined. Profits or losses resulting from the translation process are recognized in profit or loss, except for financial instruments designated as hedging instruments. As of December 31, 2023 and 2022, the representative market rates as computed and certified by the Superintendency of Finance (for the U.S. dollar which is the most representative foreign currency for Grupo Aval´s transactions) were Ps 3,822.05 and Ps. 4,810.20 per U.S. $1, respectively. 2.4 Operating segments An operating segment is a component of an entity which: a) Engages in business activities from which it can earn revenue and incur expenses (including revenue and expenses from transactions with other components of the same entity); b) Operating profit or losses are regularly reviewed by the chief operating decision maker, who decides on the resources allocation to the segment and assesses its performance and. c) Discrete financial information is available, Segment results that are reported to the Chief Operating Decision Maker (CODM) include items that are directly attributable to a segment as well as those that can be allocated on a reasonable basis. Management regularly evaluates the performance for each segment; Grupo Aval discloses information separately for each identified operating segment, meeting any of the following quantitative thresholds: a) The segment´s reported revenue from the ordinary activities, including revenue from external customers as well as revenue from intersegment transfers, is equal or greater than 10% of the revenue of combined ordinary activities, internal and external, of all operating segments. b) The amount of the segment´s reported net income is, in absolute terms, equal or greater than 10% of the amount greater of: (i) the combined reported net income of all the segments not reporting a loss; and (ii) the reported combined loss of all segments of the operations with incurred losses. c) The segment´s assets are equal to or greater than 10% of the combined assets of all segments of the operation. The information regarding other activities of the business of operating segments that do not have to be reported is combined and disclosed within the category of “Others”. 2.5 Financial assets and financial liabilities i. Recognition and initial measurement Grupo Aval initially recognizes loans and advances, deposits, debt securities issued and subordinated liabilities on the date on which they are originated. All other financial instruments (including regular-purchases and sales of financial assets) are recognized on the trade date, which is the date in which Grupo Aval becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is initially measured at fair value. Additionally, for instruments measured at amortized cost or FVOCI, transaction costs are added if directly attributable to its acquisition or issuance. ii. Classification Financial assets On initial recognition, a financial asset is classified as: amortized cost, FVOCI or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: ● The asset is held within a business model in which the objective is to hold assets to collect contractual cash flows; and ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt instrument is measured at FVOCI only if it meets both of the following conditions and is not designated as at FVTPL: ● The asset is held within a business model whose objective is achieved both by collecting contractual cash flows and selling the financial asset; and ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, Grupo Aval may irrevocably elect to present subsequent changes in fair value in Other Comprehensive Income (“OCI”). This election is made on an investment-by-investment basis. All other financial assets are classified and measured at FVTPL. Business model assessment Grupo Aval makes an assessment of the objective of a business model in which an asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: ● The established policies and objectives for the portfolio and their actual application. In particular, whether management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets; ● How the performance of the portfolio is evaluated and reported to Grupo Aval’s management; ● The risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and ● The frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and its expectations about future sale activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how Grupo Aval’s stated objective for managing the financial assets is achieved and how cash flows are realized. Financial assets that are held for trading, for which performance is evaluated on a fair value basis are measured at FVTPL because their objective is neither to collect contractual cash flows nor to collect contractual cash flows and sell the financial assets. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, “principal” is defined as the fair value of the financial asset on initial recognition. “Interest” is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks (e.g. liquidity risk and administrative costs), as well as profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest (SPPI), Grupo Aval considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. Upon assessment Group Aval considers: ● Contingent events that would change the amount and timing of cash flows; ● Leverage covenants; ● Prepayment and extension terms; ● Terms that limit Grupo Aval’s claim to cash flows from specified assets; and ● Features that modify consideration of the time value of money. Interest rates on certain commercial and consumer loans originated by Grupo Aval are pegged to standard variable rates generally used in each country where Grupo Aval operates and includes a spread. In Colombia, the standard variable rates are based on the DTF (rate interest calculated as the average for time deposits)s or the interbank rate (in Spanish Interés Bancario de Referencia), or “IBR” rates, both of which are calculated weekly by the Central Bank based on information collected from the Colombian financial system, plus a spread, and in the case of loans in foreign currency issued in Colombian entities and in other countries Grupo Aval uses SORF interest rates plus a spread. In these cases, Grupo Aval assesses whether the discretionary feature is consistent with the SPPI criteria by considering a number of factors, including whether: ● Borrowers are able to prepay the loans without significant penalties, ● Market competition ensures that interest rates are consistent between banks, and ● Any regulatory or customer protection framework is in place that requires banks to treat customers fairly. A prepayment feature is consistent with the SPPI criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable compensation for early termination of the contract. In addition, a prepayment feature is treated as consistent with this criterion if a financial asset is acquired or originated at a premium or discount to its contractual par amount, and the prepayment amount substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable compensation for early termination), and the fair value of the prepayment feature is insignificant upon initial recognition. Financial liabilities Grupo Aval classifies its financial liabilities, other than derivatives, financial guarantees and loan commitments, as measured at amortized cost. iii. Reclassifications Financial assets Financial assets are not reclassified subsequent to their initial recognition, except in the period after Grupo Aval’s entities changes their business model for managing financial assets. iv. Derecognition Financial assets Grupo Aval derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire (see also (v)), or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which Grupo Aval neither transfers nor retains substantially all of the risks and rewards of ownership but it does not retain control of the financial asset. At derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognized) and the sum of (i) the consideration received (including any new asset obtained less any new liability assumed) and (ii) any cumulative gain or loss that had been recognized in OCI is recognized in profit or loss. Any cumulative gain/loss recognized in OCI in respect of equity investment securities designated as at FVOCI is not recognized in profit or loss on derecognition of such securities, as explained in (2.10). Any interest in transferred financial assets that qualify for derecognition that is created or retained by Group Aval is recognized as a separate asset or liability. Grupo Aval enters into transactions whereby it transfers assets recognized on its Consolidated Statement of Financial Position but retains either all or substantially all of the risks and rewards of the transferred assets or a portion of them. In such cases, the transferred assets are not derecognized. Examples of such transactions are securities lending and sale-and-repurchase transactions. When assets are sold to a third party with a concurrent total rate of return swap on the transferred assets, the transaction is accounted for as a secured financing transaction similar to sale-and repurchase transactions, given that Grupo Aval retains all or substantially all of the risks and rewards of ownership of such assets. In transactions in which it neither retains nor transfers substantially all of the risks and rewards of ownership of a financial asset and it retains control over the asset, Grupo Aval continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset. Financial liabilities Grupo Aval derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. v. Modifications of financial assets and financial liabilities Financial assets If the terms of a financial asset are modified, then Grupo Aval assesses whether the cash flows of the modified asset are substantially different. If the cash flows are substantially different, the contractual rights to cash flows from the original financial asset are deemed to have expired. In that case, the original financial asset is derecognized (see (iv)) and a new financial asset is recognized at fair value plus any eligible transaction costs. Any fees received as part of the modification are accounted for as follows: ● Fees that are considered in determining the fair value of the new asset and fees that represent reimbursement of eligible transaction costs are included in the initial measurement of the asset; and ● Other fees are included in profit or loss as part of the gain or loss on derecognition. If cash flows are modified when the borrower is in financial distress, the objective of the modification is usually to maximize recovery of the original contractual terms rather than to originate a new asset with substantially different terms. If Group Aval plans to modify a financial asset in a way that would result in foregoing of cash flows, it considers whether a portion of the asset should be written off before the modification takes place (see below for write ‑ If the modification of a financial asset measured at amortized cost or FVOCI does not result in derecognition of the financial asset, then Grupo Aval recalculates the gross carrying amount of the financial asset using the original effective interest rate of the asset and recognizes the resulting adjustment as a recovery or impairment in the Consolidated Statement of Income. For variable-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification are incorporated into the gross carrying amount of the modified financial asset and are amortized over the remaining term of the modified financial asset. Financial liabilities Grupo Aval derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognized in the Consolidated Statement of Income. If the modification of a financial liability measured at amortized cost does not result in derecognition of the financial liability, then Grupo Aval first recalculates the gross carrying amount of the financial liability using the original effective interest rate of the liability and recognizes the resulting adjustment as interest expense in the Consolidated Statement of Income. For variable-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification are incorporated into the gross carrying amount of the modified financial liability and are amortized over the remaining term of the modified financial liability. vi. Offsetting of financial assets and liabilities Financial assets and liabilities are offset, and the net amount is recognized in the Consolidated Statement of Financial Position, when there is a legally enforceable right to offset recognized amounts and management intends to settle them on a net basis or to realize the asset and settle the liability simultaneously. Income and expenses are presented on a net basis only when permitted under IFRS, or for gains and losses arising from a group of similar transactions such as Grupo Aval’s trading activity. vii. Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which Grupo Aval has access at that date. Grupo Aval measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, Grupo Aval uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price – i.e. the fair value of the consideration given or received. If Grupo Aval determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any unobservable inputs are deemed to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized in the Consolidated Statement of Income on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out. Portfolios of financial assets and financial liabilities that are exposed to market risk and credit risk, managed by Grupo Aval on the basis of the net exposure to either market or credit risk are measured on the basis of a price that would be received to sell a net long position (or paid to transfer a net short position) for the particular risk exposure. Portfolio-level adjustments – e.g. bid-ask adjustment or credit risk adjustments that reflect the measurement on the basis of the net exposure – are allocated to the individual assets and liabilities on the basis of the relative risk adjustment of each of the individual instruments in the portfolio. The fair value of a financial liability with a demand feature (e.g. a demand deposit) is no less than the amount payable on demand, discounted from the first date on which the amount could be required to be paid. Grupo Aval recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. See Note 5. viii. Repurchase agreements and reverse repurchase agreements Purchases of financial instruments under a non-optional resale agreement are measured at fair value and recognized as financial assets in the Consolidated Statement of Financial Position under interbank and overnight funds. The excess of the purchase prices over the resale prices is recognized as interest income over the contractual term. Sales of financial instruments under a non-optional repurchase agreement are measured at fair value and recognized as liabilities in the Consolidated Statement of Financial Position under Interbank borrowings, overnight funds and borrowings from banks and others. The excess of the sales prices over the repurchase prices is recognized as interest expense over the contractual term. Retained interests (i.e. the assets that collateralize the repurchase agreements) are primarily classified as fair value through OCI and measured at fair value. ix. Impairment of financial assets Grupo Aval recognizes loss allowances for Expected Credit Losses – (“ECL”) on the following financial instruments that are not measured at FVTPL: ● Debt investment instruments; ● Loans and receivables; ● Financial guarantee contracts issued; ● Loan commitments issued, and ● Other accounts receivable No credit impairment loss is recognized on equity investments. Grupo Aval measures loss allowances at an amount equal to lifetime ECL (Stage 2 and stage 3), except the following cases, for which they are measured as 12-month ECL (Stage 1): ● Debt investment securities that are determined to have low credit risk at the reporting date; and ● Other financial instruments (other than loans and lease receivables) on which credit risk has not increased significantly – (“SICR”) since their initial recognition. Grupo Aval considers a financial asset is classified as a low credit risk asset if the issuer is related to an investment grade credit rating. 12-month ECL is the portion of ECL that results from default events on a financial instrument that are possible within the 12 months after the reporting date. Measurement of ECL Measurement of ECL is described in Note 4(4.1.5 Amounts arising from Expected Credit Loss (ECL)). Modified Financial Assets If the terms of a financial asset are renegotiated or modified or an existing financial asset is replaced with a new one due to financial distress of the borrower, an assessment is made of whether the financial asset should be derecognized (see (iv)) and ECL are measured as follows: ● If the restructuring is not expected to result in derecognition of the existing asset, then the expected cash flows arising from the modified financial asset are included in calculating the cash shortfalls from the existing asset (see Note 4(4.1.1)). ● If the restructuring is expected to result in derecognition of the existing asset, then the expected fair value of the new asset is treated as the final cash flow from the existing financial asset at the time of its derecognition. This amount is included in calculating the cash shortfalls from the existing financial asset that are discounted from the expected date of derecognition to the reporting date using the original effective interest rate of the existing financial asset. Credit-impaired financial assets At each reporting date, Grupo Aval assesses whether financial assets carried at amortized cost and at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: ● Significant financial difficulty of the borrower or issuer; ● A breach of contract such as a default or past due event; ● The restructuring of a loan or advance by Grupo Aval on terms that Grupo Aval’ entities would not consider otherwise; ● It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or ● The disappearance of an active market for a security because of financial difficulties. A loan that has been renegotiated due to a deterioration in the borrower’s condition is usually considered to be credit-impaired unless there is evidence that the risk of not receiving contractual cash flows has decreased significantly and there are no other indicators of impairment. In addition, a loan different to a mortgage that is overdue for 90 days or more is considered impaired. In making an assessment of whether an investment in sovereign debt is credit-impaired, Grupo |
JUDGMENTS AND CRITICAL ACCOUNTI
JUDGMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of accounting judgements and estimates explanatory [abstract] | |
JUDGMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES | NOTE 3 – JUDGMENTS AND CRITICAL ACCOUNTING ESTIMATES IN APPLYING ACCOUNTING POLICIES Grupo Aval’s management makes estimates and assumptions that affect the amounts recognized in the consolidated financial statements and the carrying value of the assets and liabilities within the fiscal year. The judgments and estimates are continuously evaluated and are based on the experience of management and other factors, including the occurrence of future events that are believed to be reasonable under the current circumstances. Management also makes certain judgments besides those which involve estimates during the process of applying accounting policies. The judgments that have the most significant effects on the amounts recognized in the consolidated financial statements and the estimates that may cause an important adjustment to the book value of assets and liabilities in the following year include the following: A. Judgments Information about judgments made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included in the following notes. – Note 2 (2.1) – determination of control over investees. – Note 2 (2.5) (ii) – classification of financial assets: assessment of the business model within which the assets are held and assessment of whether the contractual terms of the financial asset are solely payments of principal and interest on the principal amount outstanding. – Note 4 (4.1.5) – establishing the criteria for determining whether credit risk on the financial asset has increased significantly since initial recognition, determining the methodology for incorporating forward-looking information into the measurement of ECL and selection and approval of models used to measure ECL. B. Assumptions and estimation uncertainties Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment in the year ended is included in the following notes. – Note 4 (4.1.5) – impairment of financial instruments: assessment of whether credit risk on the financial asset has increased significantly since initial recognition and incorporation of forward-looking information in the measurement of ECL. – Note 4 (4.1.5) – impairment of financial instruments: key assumptions used in estimating recoverable cash flows. – Note 5 – determination of the fair value of financial instruments with significant unobservable inputs. – Note 16 – measurement and revenue recognition of concession arrangements. – Note 17 – impairment testing for CGUs containing goodwill: key assumptions underlying recoverable amounts. – Note 19 – recognition of deferred tax assets: availability of future taxable profit against which carry-forward tax losses can be used. – Note 22 – measurement of defined benefit obligations: key actuarial assumptions. – Notes 23 – recognition and measurement of provisions and contingencies: key assumptions about the likelihood and magnitude of an outflow of resources. |
RISK MANAGEMENT
RISK MANAGEMENT | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of risk management [abstract] | |
Disclosure of risk management [text block] | NOTE 4 – RISK MANAGEMENT Grupo Aval and its subsidiaries in the financial sector, Banco de Bogotá, Banco de Occidente, Banco AV Villas, Banco Popular, Corficolombiana and Porvenir manage risk pursuant to the applicable regulations in each country where they operate and according to Grupo Aval’s policies. The risk framework requires that strong risk management practices are integrated in the key processes across Grupo Aval with a goal of ensuring risks are appropriately considered, evaluated and responded to in a timely manner. Grupo Aval employs a risk management process that aims to identify, measure, monitor and control, as part of the daily activities, all the risks that Grupo Aval is exposed to. Lines of Defense: in addition to the roles of Executive Officers in managing risk, management has ownership and accountability across the three lines of defense: (1) First Line: Business Units, (2) Second Line: mainly concentrated in the Independent Risk Management units and (3) Third line: Corporate Audit. ● Business Units: Include the business lines as well as the Technology and Operations areas which are responsible for appropriate assessment and effective management of all risks associated with their processes. ● Independent Risk Management Units: Risk management areas include risk management and compliance departments. Grupo Aval has other control functions that are not part of these areas but are also key in risk mitigation of non-financial risks, including legal, human resources and certain activities within the financial and administrative processes. ● Corporate Audit: Corporate audit maintains its independence from the first and second lines by reporting directly to the Audit Committee or the Board. Corporate Audit provides independent assessment and validation through testing of key processes and controls across Grupo Aval. The following sections outline the key financial risks that are inherent to the business activities of the subsidiaries: Financial risks i) Credit risk: the risk of financial loss if a debtor fails to meet their contractual obligations. ii) Market risk: the risk of loss arising from potential adverse movements in the value of the subsidiaries in the financial sector assets and liabilities or future results, arising as a result of changes in market variables such as interest rates, foreign exchange rates, equity prices, commodity prices, implied volatilities or credit spreads; this includes the structural interest rate and foreign exchange risks. iii) Liquidity risk: the risk of being unable to meet contractual and contingent obligations or that the subsidiaries in the financial sector do not have the appropriate amount, composition and tenor of funding and liquidity to support the financial assets and liabilities requirements (funding liquidity risk). Also includes the capability to manage its investment portfolio in terms of liquidity, duration and currency (market liquidity risk). iv) Interest rate risk: it is the current or potential risk to equity and profits that arise from adverse movements in interest rates, which affect the positions of the banking book. Additionally, the risk areas are responsible for supporting capital management by determining risk levels of the calculation of capital adequacy requirements, impact assessment of the risk materialization on compliance with capital levels and determining the levels of risk appetite. Objective and general guidelines of financial risk management Grupo Aval’s and its subsidiaries of the financial sector objective is to maximize returns for its investors through strong risk management. The guiding principles of risk management at Grupo Aval are as follows: a) Make risk management a part of every institutional process. b) Collective decision making for the approval of commercial lending of significant amounts. c) Extensive and in-depth industry and market knowledge, as a result of sound leadership and experienced, stable and seasoned senior management. d) Clear risk management policies based on a top-down approach with respect to: ● Compliance with know-your-customer policies. ● Commercial loans credit structure based on clear identification of sources of repayment as well as cash flow generation capacity of the borrower. e) Use of similar credit analysis tools for analysis across Grupo Aval’s subsidiaries of financial sector. f) Diversification of the commercial loan portfolio with respect to industries and economic groups. g) Specialization in consumer product niches. h) Extensive use of continuously updated scoring models and up-to-date credit ratings to ensure quality growth of loans with high credit quality. i) Conservative policies in terms of: ● trading portfolio composition with bias towards lower volatility instruments, ● proprietary trading position, and ● variable compensation for the trading staff. j) Control the position-level exposures based on market risk sensitivities (such as VaR, DV01, Delta, Rho and Vega) and credit risk exposures by counterparties. k) Concentration and diversification limits which are based on market liquidity and volatility, operational capacity, valuation and credit quality of counterparties. l) Control and follow up on the funding and liquidity risk with independent oversight. This includes setting limits related to high quality liquid assets and maturity concentration of financial liabilities among others. m) Ensuring compliance with regulatory limits and reviewing how the current and projected strategy can affect those limits. n) Use of our market experience in the identification and implementation of best practices for risk management. Main premises for risk management Grupo Aval´s risk culture is based on the principles indicated in the section above, which are transmitted to all subsidiaries of the financial sector and business units. The strategy related to risk management is supported by the following guidelines: a) In the financial sector subsidiaries of Grupo Aval, the risk function is independent of the business units. The segregation of functions between the business areas and the risk areas in charge of risk measurement analysis, control and reporting, provide enough independence and autonomy for proper risk control. b) The decision-making process at the subsidiaries of the financial sector requires that transactions of significant amounts are sent to decision centers such as risk committees. The frequency of meetings of these committees ensures a high degree of agility regarding proposal resolution, and continuous participation of senior management in management of various risks. c) Grupo Aval has corporate policies for the risks to which it is exposed. The business and risk units of Grupo Aval and its subsidiaries of the financial sector hold orientation meetings based on approaches to risk that are consistent with Grupo Aval´s risk culture. d) Grupo Aval has implemented a risk system that is updated on a regular basis to address new conditions in the markets and the risks to which Grupo Aval is exposed. e) There are adequate information systems to monitor risk exposure, ensure compliance with the approved policies and implement appropriate corrective actions as and when necessary. f) Key risks are analyzed on a regular basis, not only when risks materialize or problems occur during the normal course of business but in a continuous process of risk management. g) Grupo Aval and its subsidiaries of the financial sector have training courses on risk culture for all hierarchy levels in the organization. h) A risk culture has been integrated throughout the organization, consisting of a series of attitudes, values, skills and guidelines to action. |
Disclosure of risk management, credit risk [text block] | Financial Risk Review 4.1 Credit Risk 4.1.1 Consolidated Credit Risk Exposure Grupo Aval´s subsidiaries are exposed to credit risk, consisting of the risk of financial loss as a result of a failure of a debtor to meet their contractual obligations in financial transactions on a timely and complete manner. Exposure to credit risk for Grupo Aval and its subsidiaries is a result of credit activities and transactions with counterparties. The maximum exposure to credit risk of Grupo Aval, at a consolidated level is reflected in the carrying value of financial assets in the consolidated statement of financial position of Grupo Aval as of December 31, 2023 and 2022 as follows: Assets December 31, 2023 December 31, 2022 Cash and cash equivalents (*) Ps. 14,788,750 Ps. 13,234,832 Trading investments in debt securities 7,113,380 3,760,887 Investments in debt securities mandatorily at FVTPL 1,889 1,378 Investments in debt securities at FVOCI 23,326,776 22,461,805 Investments in debt securities at amortized cost 9,996,561 9,771,492 Derivatives instruments 2,077,567 2,041,405 Hedging derivatives 48,662 20,854 Loans Commercial 107,047,817 104,775,099 Consumer 59,999,611 59,419,444 Mortgage 18,486,206 17,883,355 Microcredit 277,529 267,720 Interbank and overnight funds 392,607 5,967,743 Other accounts receivable FVTPL 3,830,916 3,507,231 Other accounts receivable at amortized cost 22,171,973 20,255,758 Total financial assets with credit risk Ps. 269,560,244 Ps. 263,369,003 Financial instruments with credit risk outside of the statement of financial position at its nominal value Financial guarantees and letters of credit 3,052,607 4,679,653 Credit commitments 26,745,937 26,328,516 Total exposure to credit risk outside of the statement of financial position (**) Ps. 29,798,544 Ps. 31,008,169 Total maximum exposure to credit risk Ps. 299,358,788 Ps. 294,377,172 (*) (**) With regard to guarantees and commitments to extend credit amounts, the maximum credit risk exposure is the amount of a commitment. Credit risk is mitigated by guarantees and collaterals as described in note 4.1.4 Mitigation of Credit Risk, Collateral and Other Credit Risk Enhancements. Each of Grupo Aval´s financial subsidiaries assume the credit risk for both the credit activities, which includes commercial, consumer, mortgage and microcredit credit lending, and treasury activities including interbank loans, investment portfolio management, derivatives and foreign currency trading activities among others. Despite being independent businesses, the nature of insolvency risk of a borrower or counterparty is similar and therefore the criteria in which they are evaluated is similar. 4.1.1.A. Loan portfolio disclosure Loans are recorded at amortized cost in the statement of financial position, and are classified as commercial, consumer, residential mortgage, microcredit, interbank and overnight funds. The following table presents the portfolio balances, provision balances and net value portfolio by segment: December 31, 2023 Total loan Portfolio segment Loan Portfolio Loss allowance Portfolio, net Commercial Ps. 107,440,424 Ps. 5,294,622 Ps. 102,145,802 Interbank and overnight funds 392,607 22 392,585 Client portfolio 107,047,817 5,294,600 101,753,217 Consumer 59,999,611 4,307,446 55,692,165 Residential mortgage 18,486,206 379,987 18,106,219 Microcredit 277,529 53,660 223,869 Total portfolio Ps. 186,203,770 Ps. 10,035,715 Ps. 176,168,055 December 31, 2022 Total loan Portfolio segment Loan Portfolio Loss allowance Portfolio, net Commercial Ps. 110,742,842 Ps. 5,494,190 Ps. 105,248,652 Interbank and overnight funds 5,967,743 1,444 5,966,299 Client portfolio 104,775,099 5,492,746 99,282,353 Consumer 59,419,444 3,311,912 56,107,532 Residential mortgage 17,883,355 352,441 17,530,914 Microcredit 267,720 38,971 228,749 Total portfolio Ps. 188,313,361 Ps. 9,197,514 Ps. 179,115,847 4.1.1.B Loan portfolio given as collateral In 2023 and 2022, there were no portfolio operations delivered as collateral in resource auction operations with Banco República. 4.1.2 Loan and Counterparty Approval Process for subsidiaries in the financial sector The principles and rules for credit management and credit risk for each financial subsidiary are contained in the credit manual, both for commercial banking activities and treasury activities. Evaluation criteria to measure credit risk follows the principal instructions set forth by the Treasury and Credit Risk Committees. The maximum authority regarding lending is the Board of Directors for each bank, which approves the general policy and has the capacity to approve large size transactions. In the normal banking operation, authorizations for approval of loans and lines of credit depend on the amounts, credit quality, tenor and security collateral or guarantees offered by the client. The Board of Directors of each bank has delegated part of its lending authorities to different committees and executives who process the credit requests and are responsible for the analysis and credit review. Additionally, for the approval of credits, certain considerations are taken into account including but not limited to, the probability of default, the recovery percentage of guarantees received, current customer exposure and tenor & concentration by economic sector. Regarding treasury operations, the Boards of Directors of the financial subsidiaries approve lines of credit for counterparties. Risk control is essentially carried out through three mechanisms: periodic approval of lines of credit, evaluation of the conditions of the issuers at least annually and a report on concentrations for each client or economic group. Although each financial subsidiary is responsible for its credit decisions and risk management, Grupo Aval as the holding entity, oversees the implementation of appropriate risk management controls at the financial subsidiaries through the Corporate Risk Unit and has established upward loan reporting processes. The holding’s risk management staff meets on a periodically basis to discuss Grupo Aval subsidiaries’ loan portfolio, developments in industry, risks and opportunities. Additionally, Grupo Aval through the Credit Projects Unit reviews credit exposures approved by the Group's financial entities, in accordance with guidelines established based on financial indicators, group exposure, economic sectors, among others. This process was developed to effectively leverage the combined equity of its Banks and manage any risk issues. Each subsidiary of the financial sector has a Credit Risk Management System, which is managed by the credit vice-presidency or its equivalent, and includes, among others, the design, implementation and evaluation of policies and risk mechanisms defined by the Credit and Treasury Risk Committee and the Board of Directors of each entity. The operation of the Credit Risk Management System has resulted in the integration of risk measurement tools into the credit approval process in each of the financial subsidiaries. Each subsidiary of the financial sector in Colombia has two models for evaluating credit risk for the approval of commercial loans. The first is the financial ratings model, which consists of statistical models based on the client´s financial information, which are used in the approval process and for portfolio management and monitoring. The second model is based on the client´s financial ratings and their historical payment behavior with the bank. For retail loans (including mortgage loans and auto loans) models are based on product line characteristic, sociodemographic variables and the historical payment behavior of the clients with the bank and the financial sector. As a result of the changes caused by the national and international economic and political situation, periodically review and analyze whether it is necessary to adjust origination strategies, along with approved debt limits in accordance with individual risk analysis, especially for customers identified in high-risk sectors, segments, credit lines and among others. 4.1.3 The Credit-risk Monitoring Process and Credit rating of the loan portfolio The monitoring process and credit risk review of each financial subsidiary is carried out in several steps including portfolio analysis by vintages, risk level rating, permanent high-risk clients’ review, restructuring processes of operations and the receipt of foreclosed assets as payment. Periodically the financial subsidiaries classify each client in one of these risk categories: Category Normal, Acceptable, Appreciable, Significant and Non - recoverability, based on the statistical models that each subsidiary has. In addition, each financial subsidiary evaluates the commercial portfolio by economic sectors, where macro-sectors are evaluated with the purpose of monitoring the concentration per economic sector and the risk level of each one. At least once a year, each financial subsidiary carries out an individual analysis of credit risk based on updated financial information of the client, payment record, collateral security/guarantees received, credit bureau reports and other qualitative information available; based on the information, clients are classified by risk level as mentioned above. Each risk category is explained as follows: Category PD* Risk Description 1 0%- 7.5% Normal Appropriately serviced. The debtor’s financial statements or their projected cash flows, as well as all other credit information available to us, reflect adequate paying capacity 2 7.5% - 15% Acceptable above normal Adequately serviced and protected, but there are weaknesses which may potentially affect, on a temporary or permanent basis, the debtor’s paying capacity or their projected cash flows to the extent that, if not timely corrected, would affect the collection of the credits as contracted 3 15% - 22.5% 4 22.5% - 30% Appreciable Have debtors with insufficient paying capacity or relate to projects with insufficient cash flow, which may compromise the normal collection of the obligations 5 30% - 45% 6 45% - 60% Significant Have the same deficiencies as loans in category 4-5, but to a larger extent; consequently, the probability of collection is highly doubtful 7 60% - 90% 8 > 90% Non-recoverability Deemed uncollectible. (*) For mortgage loans and microcredits, the previous classification by risk levels is carried out monthly considering the number of days past due. In addition, the credit risk exposure is managed through a periodic analysis of the borrowers (or potential borrowers) to determine the repayment capacity of capital and interest. The credit risk exposure is also mitigated partly by obtaining collateral security, corporate and personal guarantees. The following table sets out information about the credit quality of financial assets measured at amortized cost. Unless specifically indicated, for financial assets, the amounts in the table represent gross carrying amounts. For loan commitments and financial guarantee contracts, the amounts in the table represent the amounts committed or guaranteed, respectively. Based on the foregoing classifications, each financial subsidiary establishes and executes collection strategies directed at maximizing the collection of the loan portfolio. As of December 31, 2023 and 2022, the following is a summary of the credit portfolio by probability of default. Explanation of the terms: Stage 1, Stage 2 and Stage 3 are included in Note 2 (2.5) (ix) and explained in detail in Note 4.1.5 (Measurement of Expected Credit Loss). Total Portfolio December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 155,352,194 Ps. 2,123,462 Ps. 1,662 Ps. 157,477,318 7.5% - 15% 8,001,193 1,491,965 18 9,493,176 15% - 22.5% 635,366 454,652 13 1,090,031 22.5% - 30% 372,476 657,258 17 1,029,751 30% - 45% 122,410 2,115,980 48 2,238,438 45% - 60% 10,436 594,121 382 604,939 60% - 90% 30,479 1,640,781 3,085 1,674,345 > 90% 7 35,828 12,559,937 12,595,772 TOTAL Ps. 164,524,561 Ps. 9,114,047 Ps. 12,565,162 Ps. 186,203,770 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 157,604,135 Ps. 1,939,187 Ps. 1,204 Ps. 159,544,526 7.5% - 15% 6,335,608 2,344,810 4 8,680,422 15% - 22.5% 714,742 613,626 16 1,328,384 22.5% - 30% 82,591 804,305 26 886,922 30% - 45% 105,034 3,643,179 80 3,748,293 45% - 60% 59,209 843,511 43 902,763 60% - 90% 2,306 1,545,507 3,602 1,551,415 > 90% 2,398 40,783 11,627,455 11,670,636 TOTAL Ps. 164,906,023 Ps. 11,774,908 Ps. 11,632,430 Ps. 188,313,361 Commercial – Client portfolio December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 89,446,752 Ps. 922,338 Ps. 30 Ps. 90,369,120 7.5% - 15% 4,619,984 672,515 14 5,292,513 15% - 22.5% 149,734 141,027 — 290,761 22.5% - 30% 75,014 296,926 — 371,940 30% - 45% 35,159 1,384,320 — 1,419,479 45% - 60% — 29,600 44 29,644 60% - 90% 1,652 79,911 249 81,812 > 90% 5 3,897 9,188,646 9,192,548 TOTAL Ps. 94,328,300 Ps. 3,530,534 Ps. 9,188,983 Ps. 107,047,817 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 86,598,568 Ps. 779,368 Ps. 9 Ps. 87,377,945 7.5% - 15% 3,221,994 1,381,026 — 4,603,020 15% - 22.5% 72,734 156,062 — 228,796 22.5% - 30% 6,479 299,999 6 306,484 30% - 45% 44,889 2,716,387 — 2,761,276 45% - 60% 12,023 263,181 6 275,210 60% - 90% 1,446 70,843 683 72,972 > 90% 101 5,228 9,144,067 9,149,396 TOTAL Ps. 89,958,234 Ps. 5,672,094 Ps. 9,144,771 Ps. 104,775,099 Consumer December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 48,882,951 Ps. 959,967 Ps. 1,624 Ps. 49,844,542 7.5% - 15% 3,162,195 630,148 3 3,792,346 15% - 22.5% 407,118 221,512 13 628,643 22.5% - 30% 287,632 303,389 17 591,038 30% - 45% 83,212 511,700 46 594,958 45% - 60% 5,394 403,500 335 409,229 60% - 90% 27,605 1,347,432 2,836 1,377,873 > 90% 2 31,127 2,729,853 2,760,982 TOTAL Ps. 52,856,109 Ps. 4,408,775 Ps. 2,734,727 Ps. 59,999,611 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 49,264,495 Ps. 1,077,991 Ps. 1,193 Ps. 50,343,679 7.5% - 15% 2,552,075 475,589 4 3,027,668 15% - 22.5% 551,430 380,837 16 932,283 22.5% - 30% 61,468 311,962 19 373,449 30% - 45% 55,980 870,976 78 927,034 45% - 60% 42,850 463,902 34 506,786 60% - 90% 578 1,312,625 2,915 1,316,118 > 90% 252 35,081 1,957,094 1,992,427 TOTAL Ps. 52,529,128 Ps. 4,928,963 Ps. 1,961,353 Ps. 59,419,444 Mortgage December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 16,462,013 Ps. 241,157 Ps. 8 Ps. 16,703,178 7.5% - 15% 192,612 189,280 1 381,893 15% - 22.5% 64,124 92,026 — 156,150 22.5% - 30% 1,654 56,932 — 58,586 30% - 45% 594 219,707 2 220,303 45% - 60% — 160,222 3 160,225 60% - 90% — 200,657 — 200,657 > 90% — 804 604,410 605,214 TOTAL Ps. 16,720,997 Ps. 1,160,785 Ps. 604,424 Ps. 18,486,206 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 15,619,231 Ps. 81,828 Ps. 2 Ps. 15,701,061 7.5% - 15% 520,960 488,195 — 1,009,155 15% - 22.5% 83,260 76,727 — 159,987 22.5% - 30% 2,201 192,344 1 194,546 30% - 45% 776 55,449 2 56,227 45% - 60% — 115,989 3 115,992 60% - 90% — 148,789 4 148,793 > 90% — 474 497,120 497,594 TOTAL Ps. 16,226,428 Ps. 1,159,795 Ps. 497,132 Ps. 17,883,355 Microcredit December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 167,871 Ps. — Ps. — Ps. 167,871 7.5% - 15% 26,402 22 — 26,424 15% - 22.5% 14,390 87 — 14,477 22.5% - 30% 8,176 11 — 8,187 30% - 45% 3,445 253 — 3,698 45% - 60% 5,042 799 — 5,841 60% - 90% 1,222 12,781 — 14,003 > 90% — — 37,028 37,028 TOTAL Ps. 226,548 Ps. 13,953 Ps. 37,028 Ps. 277,529 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 154,099 Ps. — Ps. — Ps. 154,099 7.5% - 15% 40,579 — — 40,579 15% - 22.5% 7,318 — — 7,318 22.5% - 30% 12,443 — — 12,443 30% - 45% 3,389 367 — 3,756 45% - 60% 4,336 439 — 4,775 60% - 90% 282 13,250 — 13,532 > 90% 2,045 — 29,173 31,218 TOTAL Ps. 224,491 Ps. 14,056 Ps. 29,173 Ps. 267,720 Interbank and overnight funds December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 392,607 Ps. — Ps. — Ps. 392,607 7.5% - 15% — — — — 15% - 22.5% — — — — 22.5% - 30% — — — — 30% - 45% — — — — 45% - 60% — — — — 60% - 90% — — — — > 90% — — — — TOTAL Ps. 392,607 Ps. — Ps. — Ps. 392,607 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 5,967,742 Ps. — Ps. — Ps. 5,967,742 7.5% - 15% — — — — 15% - 22.5% — — — — 22.5% - 30% — — — — 30% - 45% — — — — 45% - 60% — — — — 60% - 90% — — — — > 90% — — 1 1 TOTAL Ps. 5,967,742 Ps. — Ps. 1 Ps. 5,967,743 Loan commitments and financial guarantee contracts December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 26,560,070 Ps. 74,846 Ps. 205 Ps. 26,635,121 7.5% - 15% 217,078 901,543 14 1,118,635 15% - 22.5% 30,108 1,684,982 17 1,715,107 22.5% - 30% 8,822 4,715 74 13,611 30% - 45% 1,059 145,865 138 147,062 45% - 60% 2 2,821 252 3,075 60% - 90% 9 1,050 426 1,485 > 90% 1 301 164,146 164,448 TOTAL Ps. 26,817,149 Ps. 2,816,123 Ps. 165,272 Ps. 29,798,544 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 26,786,851 Ps. 249,902 Ps. 69 Ps. 27,036,822 7.5% - 15% 286,943 1,053,719 10 1,340,672 15% - 22.5% 10,450 1,865,391 98 1,875,939 22.5% - 30% 2,033 232,787 180 235,000 30% - 45% 1,469 303,823 777 306,069 45% - 60% 83 79,811 700 80,594 60% - 90% 532 47,631 728 48,891 > 90% — 13 84,169 84,182 TOTAL Ps. 27,088,361 Ps. 3,833,077 Ps. 86,731 Ps. 31,008,169 Credit quality of financial assets (excluding loan portfolio) The following is the breakdown of the different financial assets excluding loan portfolio, by credit risk level and type of issuer based on the rating issued by the independent credit ratings agency. A financial asset is considered investment grade if its credit rating is BBB- or higher by Standard & Poor's or Fitch Ratings scale, Baa3 or higher by Moody's scale, F3 or higher by Fitch Ratings Colombia S.A or BRC3 or higher by BRC of Colombia. Otherwise, the financial asset is considered speculative. a) Trading investment in debt securities December 31, 2023 December 31, 2022 Investment grade Sovereign (*) Ps. 5,764,699 Ps. 2,721,755 Other public entities (**) 18,886 12,202 Corporate 3,412 112 Financial entities 349,273 178,584 Total investment grade Ps. 6,136,270 Ps. 2,912,653 Speculative grade Sovereign (*) Ps. 62,213 Ps. 157,246 Other public entities (**) 136,851 181,948 Corporate 42,581 33,880 Financial entities 735,187 473,223 Multilaterals — 1,873 Total Speculative grade Ps. 976,832 Ps. 848,170 Without grade or not available Corporate Ps. 278 Ps. 64 Total without grade or not available Ps. 278 Ps. 64 Ps. 7,113,380 Ps. 3,760,887 (*) (**) b) Investments in debt securities mandatorily at FVTPL December 31, 2023 December 31, 2022 Speculative grade Corporate Ps. 1,889 Ps. 1,378 Total Speculative grade Ps. 1,889 Ps. 1,378 c) Investments in debt securities at FVOCI December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 16,879,453 Ps. — Ps. — Ps. 16,879,453 Other public entities (**) 123,996 — — 123,996 Central banks 145,489 — — 145,489 Corporate 93,637 — — 93,637 Financial entities 1,085,737 — — 1,085,737 Multilaterals 330,748 — — 330,748 Total investment grade Ps. 18,659,060 Ps. — Ps. — Ps. 18,659,060 Speculative grade Sovereign (*) Ps. 2,418,378 Ps. — Ps. — Ps. 2,418,378 Other public entities (**) 739,792 — — 739,792 Corporate 273,144 — — 273,144 Financial entities 1,056,910 — — 1,056,910 Multilaterals 3,549 — — 3,549 Total speculative grade Ps. 4,491,773 Ps. — Ps. — Ps. 4,491,773 Without Grade or Not available Corporate Ps. 175,943 Ps. — Ps. — Ps. 175,943 Total Without Grade or Not available Ps. 175,943 Ps. — Ps. — Ps. 175,943 Ps. 23,326,776 Ps. — Ps. — Ps. 23,326,776 (*) (**) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 16,247,220 Ps. — Ps. — Ps. 16,247,220 Other public entities (**) 109,246 — — 109,246 Central banks 194,098 — — 194,098 Corporate 124,587 — — 124,587 Financial entities 840,545 — — 840,545 Multilaterals 477,890 — — 477,890 Total investment grade Ps. 17,993,586 Ps. — Ps. — Ps. 17,993,586 Speculative grade Sovereign (*) Ps. 2,702,107 Ps. — Ps. — Ps. 2,702,107 Other public entities (**) 680,002 — — 680,002 Corporate 245,734 — — 245,734 Financial entities 782,359 — — 782,359 Multilaterals 25,062 — — 25,062 Total speculative grade Ps. 4,435,264 Ps. — Ps. — Ps. 4,435,264 Without Grade or Not available Financial entities 32,955 — — 32,955 Total Without Grade or Not available Ps. 32,955 Ps. — Ps. — Ps. 32,955 Ps. 22,461,805 Ps. — Ps. — Ps. 22,461,805 (*) (**) d) Investments in debt securities at amortized cost December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 2,593,978 Ps. — Ps. — Ps. 2,593,978 Financial entities 2,016,078 — — 2,016,078 Total investment grade Ps. 4,610,056 Ps. — Ps. — Ps. 4,610,056 Speculative grade Other public entities (**) Ps. 5,112,355 Ps. — Ps. — Ps. 5,112,355 Corporate 63,824 — — 63,824 Financial Entities 5,761 — — 5,761 Total speculative grade Ps. 5,181,940 Ps. — Ps. — Ps. 5,181,940 Without Grade or Not available Corporate Ps. 83,066 Ps. 60,344 Ps. — Ps. 143,410 Financial Entities 61,155 — — 61,155 Total Without Grade or Not available Ps. 144,221 Ps. 60,344 Ps. — Ps. 204,565 Ps. 9,936,217 Ps. 60,344 Ps. — Ps. 9,996,561 (*) (**) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 2,333,070 Ps. — Ps. — Ps. 2,333,070 Financial entities 29,026 — — 29,026 Total investment grade Ps. 2,362,096 Ps. — Ps. — Ps. 2,362,096 Speculative grade Other public entities (**) Ps. 4,509,839 Ps. — Ps. — Ps. 4,509,839 Corporate 72,390 — — 72,390 Financial entities 2,520,330 — — 2,520,330 Total speculative grade Ps. 7,102,559 Ps. — Ps. — Ps. 7,102,559 Without Grade or Not available Corporate Ps. 157,338 Ps. 80,199 Ps. — Ps. 237,537 Financial Entities 43,851 25,449 — 69,300 Total Without Grade or Not available Ps. 201,189 Ps. 105,648 Ps. — Ps. 306,837 Ps. 9,665,844 Ps. 105,648 Ps. — Ps. 9,771,492 (*) (**) e) Other accounts receivable at FVTPL December 31, 2023 December 31, 2022 Investment grade Sovereign (*) Ps. 3,830,916 Ps. 3,507,231 Total investment grade Ps. 3,830,916 Ps. 3,507,231 (*) f) other accounts receivable at amortized cost December 31, 2023 Stage 1 Stage 2 Stage 3 Simplified Approach Total Other receivables using general approach Other accounts receivable and contract assets for government and corporate customers Ps. 14,569,999 Ps. — Ps. 1,535 Ps. — Ps. 14,571,534 Other accounts receivable related to gas, energy services, contributions, and others 1,143,548 119,607 184,829 — 1,447,984 Other receivables using simplified approach Other accounts receivable from individual customers — — — 6,152,455 6,152,455 Total other receivables Ps. 15,713,547 Ps. 119,607 Ps. 186,364 Ps. 6,152,455 Ps. 22,171,973 December 31, 2022 Stage 1 Stage 2 Stage 3 Simplified Approach Total Other receivables using general approach Other accounts receivable and contract assets for government and corporate customers Ps. 13,231,073 Ps. — Ps. — Ps. — Ps. 13,231,073 Other accounts receivable related to gas, energy services, contributions, and others 1,084,093 145,724 181,992 — 1,411,809 Other receivables using simplified approach Other accounts receivable from individual customers — — — 5,612,876 5,612,876 Total other receivables Ps. 14,315,166 Ps. 145,724 Ps. 181,992 Ps. 5,612,876 Ps. 20,255,758 Evaluated using general approach The following table provides information about the exposure to credit risk for other accounts receivable and contract assets for corporate customers as of December 31, 2023, and 2022. The credit quality of these financial assets follows the methodology of the probability of default of debt securities and other liquid financial assets (See note 4.1.5). December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 13,990,298 Ps. — Ps. — Ps. 13,990,298 Corporate — — 1,535 1,535 Financial entities 579,701 — — 579,701 Total investment grade Ps. 14,569,999 Ps. — Ps. 1,535 Ps. 14,571,534 (*) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 12,653,956 Ps. — Ps. — Ps. 12,653,956 Financial entities 577,117 — — 577,117 Total investment grade Ps. 13,231,073 Ps. — Ps. — Ps. 13,231,073 (*) The following table provides information about the exposure to credit risk by segment for accounts receivable related to gas and energy services, the methodology used to estimate the ECLs is the same used for Loan and Receivable (See note 4.1.5): December 31, 2023 Stage 1 Stage 2 Stage 3 Total Segmentation Contributions Ps. 88,148 Ps. — Ps. — Ps. 88,148 Gas 709,422 111,786 102,077 923,285 Energy 84,960 7,821 82,752 175,533 Other accounts receivable 261,018 — — 261,018 Total segmentation Ps. 1,143,548 Ps. 119,607 Ps. 184,829 Ps. 1,447,984 December 31, 2022 Stage 1 Stage 2 Stage 3 Total Segmentation Contributions Ps. 151,923 Ps. — Ps. — Ps. 151,923 Gas 692,169 141,218 89,833 923,220 Energy 78,617 4,506 92,159 175,282 Other accounts receivable 161,384 — — 161,384 Total segmentation Ps. 1,084,093 Ps. 145,724 Ps. 181,992 Ps. 1,411,809 Evaluated using simplified approach Grupo Aval uses a probability matrix to measure the ECL for other receivables from individual customers, which have small balances. The weighted-average loss rate is calculated using a “rolling rate” method based on the probability that a receivable will progress through successive stages of default until write off. The rolling rate is calculated for exposures in different segments and separately in accordance with the following common features of credit risk. The following table provides information about the exposure to credit risk and ECLs for trade receivables and contract assets from individual customers as of December 31, 2023 and 2022. Weighted- Gross average loss carrying Loss Credit- December 31, 2023 rate amount allowance impaired 0–30 days past due 0.18 % Ps. 4,949,057 Ps. 8,889 Ps. — 31–60 days past due 0.36 % 173,165 621 — 61–90 days past due 1.89 % 106,196 2,007 — More than 90 days past due 19.26 % 924,037 177,968 924,037 Ps. 6,152,455 Ps. 189,485 Ps. 924,037 Weighted- Gross average loss carrying Loss Credit- December 31, 2022 rate amount allowance impaired 0–30 days past due 0.03 % Ps. 4,884,653 Ps. 1,269 Ps. — 31–60 days past due 0.87 % 94,105 821 — 61–90 days past due 0.71 % 66,299 470 — More than 90 days past due 30.08 % 567,819 170,772 567,819 Ps. 5,612,876 Ps. 173,332 Ps. 567,819 The loss rates are based on the experience of real credit loss during a year and the balance of accounts receivable at the cut-off date for previously defined homogeneous segments. It takes into consideration elements such as: segmentation by type of receivable account, date of analysis, definition of loss, among others. Based on the characteristics of the short-term receivable accounts, these portfolios result from operations where there are no non-linear impacts, therefore, the application of macroeconomic scenarios is not considered. g) Derivative instruments The details of credit rating determined by independent credit rating agents of counterparties in trading derivatives and hedge derivatives are as follows. Credit worthiness December 31, 2023 December 31, 2022 Investment grade Ps. 1,398,093 Ps. 1,257,143 Speculative 22,274 4,165 Without grade or not available 705,862 800,951 Total Ps. 2,126,229 Ps. 2,062,259 The following table shows an analysis of counterparty credit exposures that arise from derivative transactions. Transactions derived from Grupo Aval are generally fully guaranteed with cash: Trading derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2023 Derivative assets Ps. 77,206,096 Ps. 2,077,567 Ps. 30,658,137 Ps. 4,272 Derivative liabilities 64,716,179 2,154,361 15,739,527 10,399 2022 Derivative assets Ps. 72,500,745 Ps. 2,041,405 Ps. 29,203,700 Ps. 12,991 Derivative liabilities 62,639,638 1,757,606 20,116,392 11,213 Hedging derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2023 Derivative assets Ps. 3,765,455 Ps. 48,662 Ps. — Ps. — Derivative liabilities 5,109,351 217,566 — — 2022 Derivative assets Ps. 829,105 Ps. 20,854 Ps. — Ps. — Derivative liabilities 533,829 3,568 — — Derivative transactions of Grupo Aval are collateralized by cash of Ps (1,035,846) as of December 31, 2 |
Disclosure of risk management, market risk [text block] | 4.2 Market Risk Market risk refers to the risk that a change in the level of one or more market prices, rates, indices, volatilities, correlations or other market factors, such as liquidity, will result in losses in a position or in the portfolio. Grupo Aval´s financial subsidiaries (namely Banco de Bogotá, Banco de Occidente, Banco Popular, Banco AV Villas, Corficolombiana, Porvenir and the trust companies of the financial subsidiaries) actively participate in money markets, foreign exchange markets and capital markets, for both of their books (for balance sheet risk management and trading book) and to provide financial services to their customers. This is done subject to established policies and risk limits. In that regard, they hold financial asset portfolios within the allowed limits and risk levels. Market risk arises from the positions of Grupo Aval´s financial subsidiaries in debt securities investment portfolios, derivatives and equity instruments. These risks are created by changes in factors such as interest rates, inflation, foreign currency exchange rates, share prices, credit margins of instruments and their volatility, as well as the liquidity in the markets where Grupo Aval operates. Our business units and trading desks are responsible for ensuring that market risk exposures are well-managed and prudent. The risk management groups and our business unit management ensure that these risks are measured and closely monitored. A variety of limits and controls are designed to manage price and liquidity risk. Market risk is monitored through various mechanisms such as: statistically analysis (using Value-at-Risk models and related analytical measures), risk factor sensitivity analysis, and routine stress testing, conducted in collaboration with the business units by the Market Risk Unit. The material risks identified by these processes are summarized in reports produced by the Market Risk Unit that are circulated to, and discussed with, senior management. 4.2.1 Trading Book Risk Grupo Aval´s financial subsidiaries trade financial instruments for various reasons, mainly: ● To offer products tailored to specific customer needs. Some of these products are designed to hedge the financial risks of customers. ● To take advantage of arbitrage opportunities among different yield curves, assets and markets, obtaining returns with an adequate use of capital. ● To hedge asset and liability risk positions on proprietary positions, to act on behalf of customers or to take advantage of arbitrage opportunities mainly in foreign exchange and interest rates in both local and foreign markets. In carrying out these operations, Grupo Aval´s financial subsidiaries take risks, within predetermined limits. These risks are mitigated with the use of derivative products and other financial instruments within limits that are permanently monitored by risk. The following is a breakdown of Grupo Aval’s financial assets and liabilities exposed to trading risk held at December 31, 2023 and 2022. Account December 31, 2023 December 31, 2022 Financial assets Debt financial assets Trading investments in debt securities Ps. 7,113,380 Ps. 3,760,887 Investments in debt securities mandatorily at FVTPL 1,889 1,378 Investments in debt securities at FVOCI 23,326,776 22,461,805 Total debt securities Ps. 30,442,045 Ps. 26,224,070 Derivative assets instruments Ps. 2,077,567 Ps. 2,041,405 Hedging derivatives assets 48,662 20,854 2,126,229 2,062,259 Total financial assets Ps. 32,568,274 Ps. 28,286,329 Liabilities Derivative liabilities instruments 2,154,361 1,757,606 Hedging derivatives liabilities 217,566 3,568 Total financial liabilities 2,371,927 1,761,174 Net position Ps. 30,196,347 Ps. 26,525,155 4.2.2 Description of Objectives, Policies and Processes to Manage Trading Risk Our financial subsidiaries participate in money markets, foreign exchange markets and capital markets to meet their needs and those of their customers, subject to established policies and risk levels. In this respect, they manage different portfolios of financial assets within the limits and risk levels allowed. The risks assumed by Grupo Aval´s financial subsidiaries in transactions related to the trading or treasury book are consistent with the overall trading strategy, considering the market depth for each instrument, its impact on risk-weighted assets and regulatory capital, the profit budget established for each business unit, and the balance sheet structure. Trading strategies are established on the basis of approved limits, in an effort to balance the risk / return relationship. Moreover, there is a structure of limits consistent with Grupo Aval’s general philosophy and is based on capital levels, earnings performance and risk appetite. The Market Risk Management System (SARM in Spanish) allows Grupo Aval´s financial subsidiaries to identify, measure, control and monitor the market risk they are exposed to in carrying out their operations. There are several scenarios in which Grupo Aval´s financial subsidiaries are exposed to trading risks. ● Interest Rate Risk Grupo Aval’s financial subsidiaries are exposed to interest rate risk as a result of its market-making activities and proprietary trading in interest rate sensitive financial instruments (e.g., risk arising from changes in the level or implied volatility of interest rates, the timing of mortgage prepayments, the shape of the yield curve and credit spreads for credit sensitive instruments). This risk includes the risk of repricing of floating rates. Additionally, as part of the interest rate risk management, asset and liability management committees have been established to monitor the execution of these strategies. ● Foreign Exchange Risk Grupo Aval’s financial subsidiary’s portfolios are exposed to foreign exchange rate and implied volatility risk as a result of market making negotiation in foreign currencies and from maintaining foreign exchange positions. ● Equity Price Risk and Mutual Fund Risk Grupo Aval´s financial subsidiaries are exposed to equity price risk in specific investments and are exposed to mutual fund risk. 4.2.2.1 Risk Management Grupo Aval financial subsidiaries manage their trading positions by employing a variety of risk mitigation strategies. These strategies include diversification of risk exposures and hedging through the purchase or sale of positions in related securities and financial instruments, including a variety of derivative products (e.g., futures, forwards, swaps and options). The financial subsidiaries manage their market risk associated with its trading activities on a decentralized basis. Our corporate risk unit supervises the level of risk taken in order to ensure that its global exposure limits are observed. Senior management and the Boards of Directors of our banks and their financial subsidiaries play an active role in managing and controlling market risk. They do so by analyzing established reports and through committees that comprehensively monitor - both technically and fundamentally - the different variables that influence domestic and foreign markets. This process is intended to support strategic trading and portfolio decisions. Analyzing and monitoring the market risks that Grupo Aval´s financial subsidiaries take in their operations is essential for decision making and to assess potential effects on their financial position. An ongoing analysis of macroeconomic conditions is necessary in order to achieve an ideal combination of market risk, return and liquidity. The risks assumed in financial operations are reflected in a limit structure that includes different types of instruments, specific trading strategies, the market depth in which Grupo Aval´s financial subsidiaries operate, the impact on risk-weighted assets and regulatory capital, as well as the balance sheet structure. These limits are monitored daily and reported regularly to the Board of Directors of Grupo Aval´s financial subsidiaries. In order to minimize interest rate and exchange rate risks in specific positions and transactions, Grupo Aval´s financial subsidiaries manage hedging strategies by taking positions in derivative instruments such as non-deliverable forwards (NDF) related to securities, money market transactions and foreign exchange forwards. 4.2.2.2 Methods Used to Measure Market Risk The Market Risk areas independently reviews the Company’s trading portfolios on a regular basis from a market risk perspective utilizing Value at Risk (VaR) internal and regulatory models, and other quantitative and qualitative risk measures and analyses. Each trading business and the market risk areas also use, as appropriate, measures such as sensitivity to changes in interest rates, prices, and implied volatilities to monitor and report market risk exposures. Stress testing, which measures the impact on the value of existing portfolios of specified changes in market factors for certain products, is performed periodically and reviewed by our risk and trading areas. Reports summarizing material risk exposures are produced by the market risk areas and are provided to senior management for their review and challenge. The Boards of Directors and the Risk Committees of Grupo Aval´s financial subsidiaries approve a framework of limits based on the value-at-risk related to the annual budget. Regulatory VaR (regulatory calculation) The Regulatory VaR calculation is primarily used for the Superintendency of Finance’s solvency ratio calculations. Each bank has standard models for capital purposes; however, they also maintain internal models in order to manage their day-to- day risk and profit decisions. The Superintendency of Finance methodology is based on the Basel II model. This model applies only to the financial subsidiaries’ investment portfolio and excludes investments not classified as trading. Total market risk is calculated on a daily basis by aggregating the VaR for each risk exposure category on a ten-day horizon, based on risk factors calculated under extreme market stress scenarios. VaR at month-end is part of the capital adequacy ratio calculation (as set forth in Decree 2555 of 2010). The Superintendency of Finance’s rules require the financial subsidiaries to calculate VaR for the following risk factors: interest rate risk, foreign exchange rate risk, equity price risk and fund risk. Correlations between risk factors are not considered. The fluctuations in the portfolio’s VaR depend on sensitivity factors determined by the Superintendency of Finance, modified duration and changes in balances outstanding. The ten-day horizon is defined as the average time in which an entity could sell a trading position in the market. The VaR calculation includes all the portfolios of the entities and their financial subsidiaries and is estimated under the methodology defined by the Superintendency of Finance of Colombia. These VaR calculation models are used to determine the occurrence of potential losses among the different business units. The methods also allow comparisons of activities in different markets and identification of the riskiest positions in treasury activities. These tools are also used to determine limits on traders’ positions and to promptly review positions and trading strategies in response to changes in market conditions. VaR models have inherent limitations, partially because they rely on historical data, which may not be an indicative of future market conditions. VaR models could overestimate or underestimate the value at risk if market conditions vary significantly and they do not calculate the greatest possible loss. That’s why each company uses additional measurement tools in order to compensate for the VaR limitations. Expected Shortfall analysis, stress test and back tests are part of the risk measurement tools in the financial subsidiaries. The methods used to measure VaR are assessed regularly and backtested to check their efficiency. Grupo Aval´s financial subsidiaries have tools to carry out portfolio stress and/or sensitivity tests, using extreme scenario simulations. Additionally, there are limits according to the "risk type" associated with each of the instruments comprising the different portfolios. These limits are related to sensitivity or impact on the value of the portfolio as a result of fluctuations of specific risk factors such as: interest rate (Rho), exchange rate (Delta) and volatility (Vega). Grupo Aval´s financial subsidiaries have counterparty and trading limits for each trader in the trading platforms for the markets where they operate. Trading limits are controlled daily by the back and middle offices of each entity. Trading limits for individual traders are assigned based upon the individual´s level in the organization, market and trading experience and product and portfolio management knowledge. There is also a process to monitor the prices of fixed-income securities traded in foreign markets published by investment price providers for those jurisdictions. In addition, fixed income securities are subject to a qualitative liquidity analysis to determine the market depth for those instruments. Finally, the daily transaction monitoring process includes controlling different aspects of trading, such as terms of negotiation, non-conventional or off-market transactions, and related party transactions. According to the standard model, the market value-at-risk (VaR) for Grupo Aval´s financial subsidiaries consolidated at their level of December 31, 2023 and 2022 was as follows: December 31, 2023 December 31, 2022 Basis points of Basis points of Entity Value at Risk regulatory capital Value at Risk regulatory capital Banco Bogotá S.A. Ps. 639,228 111 Ps. 759,624 116 Banco de Occidente S.A. 218,355 67 272,515 90 Banco AV Villas S.A. 47,004 55 96,711 105 Banco Popular S.A. (1) 336,718 185 147,685 116 Corficolombiana S.A. (1) 240,068 519 190,534 484 Porvenir S.A. 10,927 92 13,808 148 (1) The following tables show the VaR calculation relating to each of the risk factors described above and based on the Superintendency of Finance Methodology (Regulatory VaR) for the years ended December 31, 2023 and 2022, for a ten-day horizon for each of our Colombian banking subsidiaries. The minimum, maximum and average levels are determined based on end-of-month calculations, using 12 data points between January and December. Banco de Bogotá S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 423,347 428,765 440,804 440,804 Exchange rate 105,390 138,671 175,945 160,165 Shares 3,891 12,573 37,830 37,830 Mutual funds 106 3,860 13,085 429 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 426,736 441,281 460,435 440,531 Exchange rate 87,497 133,241 179,646 171,517 Shares 3,759 4,182 4,650 3,870 Mutual funds 108,165 118,107 143,705 143,705 Banco de Bogota´s market risk weighted assets remained on average 6.7% of the total risk-weighted assets during the year ended December 31, 2023 and 8.1% in the year ended December 31, 2022. Banco de Occidente S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 179,858 205,998 251,416 217,031 Exchange rate 717 3,662 11,894 717 Mutual funds 569 15,259 85,455 607 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 173,355 196,810 243,326 173,355 Exchange rate 99 3,354 15,681 15,681 Mutual funds 75,869 80,639 83,479 83,479 Banco de Occidente´s market risk weighted assets remained on average 5.2% of the total risk-weighted assets during the year ended December 31, 2023 and 7.0% for the year ended December 31, 2022. Banco Comercial AV Villas S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 46,209 65,592 86,967 46,209 Exchange rate 1 46 153 10 Mutual funds 221 6,930 14,175 785 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 82,312 99,727 120,545 84,749 Exchange rate 9 48 106 98 Mutual funds 158 2,090 11,864 11,864 Banco AV Villas’ market risk weighted assets remained on average 4.5% of the total risk-weighted assets during the year ended December 31, 2023 and 8.7% in the year ended December 31, 2022. Banco Popular S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 82,783 114,642 299,985 299,985 Exchange rate 5,050 6,783 7,759 7,221 Shares 148 687 6,586 6,586 Mutual funds 7,255 16,714 22,926 22,926 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 121,194 130,739 144,932 121,194 Exchange rate 4,290 5,618 6,711 5,796 Shares 140 143 148 147 Mutual funds 12,209 15,952 20,548 20,548 Banco Popular´s market risk weighted assets remained on average 8.8% of the total risk-weighted assets during the year ended December 31, 2023 and 7.7% in the year ended December 31, 2022. Corficolombiana S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 190,139 209,769 227,913 221,409 Exchange rate 4,381 16,757 24,799 4,381 Shares 7,086 7,501 8,007 7,221 Mutual funds 7,057 8,187 9,856 7,057 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 148,170 172,466 185,935 160,195 Exchange rate 3,828 15,882 40,422 23,090 Shares 6,017 9,308 13,350 6,557 Mutual funds 692 1,087 1,609 692 Corficolombiana’s market risk weighted assets remained on average 10.2% of the total risk-weighted assets during the year ended December 31, 2023 and 8.9% on the year ended December 31, 2022. As Corficolombiana does not have a relevant number of loans or other significant risk weighted assets, the ratio of the market risk weighted assets to total risk weighted assets is higher than in the banks. As a pension fund, Porvenir has a value-at-risk measurement methodology that differs from credit establishments and is established by the Superintendency of Finance. The following tables show the VaR calculation relating to each of the risk factors described above and based on that Methodology (Regulatory VaR) for the years ended December 31, 2023, and 2022, for a ten-day horizon. Porvenir S.A Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 12,190 24,500 38,914 18,822 Exchange rate 115 978 2,900 597 Shares 1,710 2,347 3,091 1,973 Mutual funds 457 2,650 5,829 3,094 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 25,698 40,927 61,686 29,363 Exchange rate 93 577 1,682 976 Shares 1,404 2,579 3,379 2,541 Mutual funds 788 5,504 15,922 788 Porvenir’ market risk weighted assets remained on average 13.7% of the total risk-weighted assets during the year ended December 31, 2023 and 16.9% in the year ended December 31, 2022. Investment Price Risk in Equity Instruments Equity Investments Variations in equity price risk measured based on the regulatory VaR methodology include both equity securities held for trading through profit or losses and non-strategic holdings. In addition, it does not discriminate between listed and unlisted equity investments or between those which consolidate and those which do not. It includes investments in non-financial institutions. Holding periods for many of Corficolombiana’s equity investments exceed ten years. Its largest investments have remained in the portfolio for several years and are intended to remain as permanent investments. Therefore, no value at risk is estimated. At December 31, 2023 and 2022, the only investments subject to regulatory VaR were holdings in Mineros S.A. The following table breaks down our investments subject to regulatory VaR by time since initial investments at December 31, 2023 and 2022. At December 31, 2023 2022 Investment Investment subject to Percentage subject to Regulatory Regulatory of Regulatory Regulatory Percentage of VaR VaR portfolio VaR VaR portfolio More than 36 months Ps. 43,765 Ps. 6,433 100 % Ps. 44,122 Ps. 6,486 100 % Total Ps. 43,765 Ps. 6,433 100 % Ps. 44,122 Ps. 6,486 100 % 4.2.3 Structural foreign exchange risk Grupo Aval´s financial subsidiaries have agencies and subsidiaries offshore and have assets and liabilities in foreign currencies and are thus exposed to changes in the exchange rates, primarily the United States Dollar. Foreign exchange risk is present when there are assets and liabilities denominated in foreign currency, when investments are made in foreign subsidiaries and branches and when we extend loans or take funds in foreign currency. Foreign exchange risk is also present in foreign currency off- balance sheet transactions. Subsidiaries of the financial sector in Colombia are authorized by the country’s central bank (Banco de la República) to trade currencies and maintain balances in foreign currency in accounts abroad. Colombian law allows banks to maintain a net daily asset or liability position in foreign currency, determined as the difference in foreign currency denominated rights and foreign currency denominated obligations, including both on and off-balance sheet positions. On an entity individual basis, the average of this difference over three business days cannot exceed twenty percent (20%) of the entity’s regulatory capital. On a consolidated basis, the average of this difference over three business days (positive or negative) cannot exceed forty percent (40%) of the consolidated entity´s regulatory capital. The maximum and minimum total foreign currency position and the spot foreign currency position are determined according to each entity´s regulatory capital. The regulatory capital that is used in the calculations, corresponds to the regulatory capital of the last business day of the previous two-months. The exchange rate used in the calculation is the average of the exchange rate of the previous month set by the Superintendency of Finance. A substantial amount of Grupo Aval’s foreign currency assets and liabilities are in U.S. dollars. Details of the assets and liabilities in foreign currency held by Grupo Aval as of December 31, 2023 and 2022 are shown below: December 31,2023 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 1,248 60 Ps. 4,996,706 Trading investments in debt securities 78 — 298,792 Investments in debt securities at FVOCI 1,930 — 7,376,923 Investments in debt securities at amortized cost 597 — 2,280,108 Loan portfolio financial assets at amortized cost 8,043 — 30,739,665 Derivative financial assets held for trading 544 — 2,077,567 Derivative financial assets held for hedging — — 687 Trade receivable 719 — 2,748,599 Total financial assets 13,159 60 Ps. 50,519,047 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Derivative financial liabilities held for trading 564 — Ps. 2,154,361 Derivative financial liabilities held for hedging 53 — 204,202 Customer deposits 7,048 34 27,070,411 Financial obligations 8,072 1 30,857,352 Accounts payable 242 — 921,552 Total financial liabilities 15,979 35 61,207,878 Net financial asset (liability) position (2,820) 25 Ps. (10,688,831) December 31,2022 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 1,208 34 Ps. 5,972,792 Trading investments in debt securities 37 — 180,032 Investments in debt securities at FVOCI 1,691 — 8,135,015 Investments in debt securities at amortized cost 608 — 2,923,279 Loan portfolio financial assets at amortized cost 7,421 1 35,699,330 Derivative financial assets held for trading 314 — 1,512,459 Derivative financial assets held for hedging 1 — 4,829 Trade receivable 705 63 3,694,659 Total financial assets 11,985 98 Ps. 58,122,395 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Derivative financial liabilities held for trading 237 — Ps. 1,141,963 Derivative financial liabilities held for hedging — — 1,553 Customer deposits 6,482 19 31,269,619 Financial obligations 9,097 5 43,779,895 Accounts payable 122 — 587,589 Total financial liabilities 15,938 24 76,780,619 Net financial asset (liability) position (3,953) 74 Ps. (18,658,224) Grupo Aval’s financial subsidiaries hedge their foreign exchange exposure using derivatives instruments, especially forwards. The net foreign currency position of each subsidiary is monitored on a daily basis. Grupo Aval has a number of investments in foreign subsidiaries and branches whose net assets are exposed to foreign exchange risk because of the translation of gains or losses for the purpose of consolidating their financial statements. The exposure arising from net assets in foreign operations is hedged primarily with financial obligations, bonds and foreign exchange derivative instruments. The following table presents sensitivities of profit or loss before taxes and equity (OCI) to reasonably possible changes in exchange rates applied at the end of the reporting period relative to the functional currency of the respective Group entities, with all other variables held constant: December 31,2023 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity (mainly OCI) Ps. 2,840 Ps. (2,840) Profit and loss before taxes (174,869) 174,869 December 31,2022 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity (mainly OCI) Ps. 13,538 Ps. (13,538) Profit and loss before taxes (156,263) 156,263 The sensitivity in equity considers mainly assets and liabilities of entities with functional currencies different from the Group’s presentation currency compensated with derivatives and financial labilities designated to hedge net investments in foreign operations. The sensitivity in profit or loss was calculated for monetary assets and liabilities denominated in currencies other than the functional currency of the respective entities of the Group, including intercompany balances which are not hedged. The Group’s exposure to currency risk at the end of the reporting period is not representative of the typical exposure during the year. 4.2.4 Structural Interest Rate Risk Non-trading instruments consist primarily of loans and deposits. The net interest margin of our financial subsidiaries may be affected by changes in interest rates. Losses can result from unexpected movements in interest rates. For this reason, our financial subsidiaries monitor the interest rate risk daily and set limits on asset and liability mismatches. Grupo Aval´s financial subsidiaries monitor their interest rate risk daily and set limits to repricing mismatches between assets and liabilities. They analyze their interest rate exposure in a dynamic way. Scenario modelling considers renewal of existing positions, financing alternatives, and hedges. Considering these scenarios, the financial subsidiaries calculate the profit and loss impact of changes in interest rates. The following table shows interest rates exposure for assets and liabilities at December 31, 2023 and 2022. In this table, fixed rate instruments are classified according to their maturity date and floating rate instruments are classified according to their repricing date. The following analysis includes the interest rate exposure of non-interest-bearing and interest-bearing assets and liabilities by maturity bucket for our financial subsidiaries: December 31, 2023 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 5,563,358 Ps. 854 Ps. 1,684 Ps. — Ps. 13,031,965 Ps. 18,597,861 Trading investments in debt securities 41,179 251,925 539,012 6,281,264 — 7,113,380 Investments in debt securities mandatorily at FVTPL — — 439 1,450 — 1,889 Investments in debt securities at FVOCI 110,939 720,636 3,727,517 18,767,684 — 23,326,776 Investments in debt securities at amortized cost 927,454 3,402,597 3,389,804 2,276,706 — 9,996,561 Trade receivable at FVTPL — — — 3,830,916 — 3,830,916 Commercial loans 12,496,990 48,530,829 11,530,367 34,489,631 — 107,047,817 Consumer loans 4,014,604 3,485,355 1,627,002 50,872,650 — 59,999,611 Mortgages loans 3,369,639 218,540 6,817 14,891,210 — 18,486,206 Microcredit loans 23,946 11,431 33,079 209,073 — 277,529 Interbank and overnight founds 247,668 144,939 — — — 392,607 Trade receivable 12,346 4,380 3,207 1,704,180 20,447,860 22,171,973 Total Assets Ps. 26,808,123 Ps. 56,771,486 Ps. 20,858,928 Ps. 133,324,764 Ps. 33,479,825 Ps. 271,243,126 — Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 4,746,654 Ps. — 11,904,157 — 7,159,048 Ps. 23,809,859 Time deposits 8,037,475 39,999,744 21,559,845 17,000,396 — 86,597,460 Saving deposits 71,149,883 — — — — 71,149,883 Other deposits 12,379 15,455 — — 402,360 430,194 Interbank and overnight funds 13,298,927 1,762,116 — 20,877 — 15,081,920 Leases contracts 3,962 55,871 77,762 2,654,153 — 2,791,748 Borrowing from banks and similar 2,001,170 6,011,525 2,710,163 8,703,854 — 19,426,712 Long-term debt 58,142 4,053,694 565,465 18,750,525 — 23,427,826 Borrowing from development entities 2,441,548 1,082,184 165,940 1,123,461 — 4,813,133 Total Liabilities Ps. 101,750,140 Ps. 52,980,589 Ps. 36,983,332 Ps. 48,253,266 Ps. 7,561,408 Ps. 247,528,735 December 31, 2022 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 6,066,944 Ps. — Ps. — Ps. — Ps. 10,965,913 Ps. 17,032,857 Trading investments in debt securities 75,943 715,117 107,442 2,862,385 — 3,760,887 Investments in debt securities mandatorily at FVTPL — — — 1,378 — 1,378 Investments in debt securities at FVOCI 280,301 2,912,007 700,112 18,569,385 — 22,461,805 Investments in debt securities at amortized cost 967,123 5,543,804 294,035 2,966,530 — 9,771,492 Trade receivable at FVTPL — — — 3,507,231 — 3,507,231 Commercial loans 14,928,623 43,243,207 9,111,072 37,492,197 — 104,775,099 Consumer loans 4,310,303 3,698,330 1,321,030 50,089,781 — 59,419,444 Mortgages loans 4,124,08 |
Disclosure of risk management, liquidity risk [text block] | 4.3 Liquidity Risk Liquidity risk management has always been a basic element of Grupo Aval’s business strategy and a fundamental cornerstone, together with capital, on which the strength of its balance sheet rests. Liquidity risk is related to the inability of Grupo Aval´s subsidiaries to fulfill their obligations with customers, financial market counterparties, lenders, suppliers, authorities or other stakeholders at any given moment, in any currency and in any location. Structural liquidity management aims to finance the recurring nature of a company’s activities under optimal terms of time and cost, avoiding taking unwanted liquidity risks. At Grupo Aval, the financing and liquidity model is decentralized and based on autonomous subsidiaries that are responsible for covering their own liquidity needs. Therefore, each entity reviews its available resources on a daily basis in order to control its liquidity risk. The financial subsidiaries of Grupo Aval are responsible for complying with the regulatory liquidity requirements, as well as meeting the obligations arising from their current and future activity. In consequence, they will either take deposits from their customers, or by resorting to the wholesale markets where they operate. Grupo Aval’s financial subsidiaries have a strong capacity as well as to raise funds in the wholesale markets. Financial subsidiaries comply with the requirements for liquidity risk management of the jurisdictions in which they operate. They define policies that govern the functions of identification, measurement, control and monitoring required to manage daily liquidity requirements, comply with minimum liquidity buffers and establish liquidity contingency plans to deal with any unexpected situation. Financial subsidiaries controlled by Grupo Aval, in Colombia, are required to maintain adequate liquidity positions based on the Superintendency of Finance’s liquidity parameters, using a short-term liquidity index (Indicador de Riesgo de Liquidez), or “IRL,” that measures liquidity for different time horizons from 1 to 90 days. This index is defined as the difference between adjusted liquid assets and net liquidity requirements. • Liquid assets include total debt securities adjusted by market liquidity and exchange rate, excluding investment securities at amortized cost different from mandatory investments, Central Bank deposits and available cash. • Net liquidity requirements are the difference between expected contractual asset and contractual and non-contractual liability cash flows. Cash flows from past due loans are not included in this calculation. During 2020, as part of its convergence towards Basel III standards, the Superintendency of Finance incorporates the segmentation by type of deposits in the calculation of non-contractual liability cash flows. The methodology segments saving deposits in eight categories, according with their balance and the type of customer, then calculates the run-off rate for each category and finally multiplies both to determine the non-contractual reserve. Grupo Aval´s financial subsidiaries assess the volatility of deposits, debt levels, the asset and liability structure, the liquidity of different asset types, the availability of lines of credit and the effectiveness of asset and liability management. The objective is to have adequate liquidity to manage possible stress scenarios. The quantification of appropriate money market funding levels is an integral part of the liquidity measurement carried out by each entity. Based on statistical analysis, primary and secondary sources of liquidity are identified in order to ensure funding stability and diversification, and to minimize concentration. Financial subsidiaries in Colombia must maintain cash on hand and in Central Banks deposits in order to comply with reserve requirements. The calculation of the reserve requirement is based on the daily average of the different types of deposits every two weeks. This requirement is 8% for sight and savings deposits, and 3.5% for term deposits of up to 18 months. For term deposits with terms greater than 18 months, the legal reserve was kept at 0%. As of December 31, 2023, and 2022, all of Grupo Aval´s financial subsidiaries comply with reserve requirements. There are no reserve requirements for our subsidiaries located in Panamá because there is no Central Bank to regulate such requirements. The following table presents liquid assets as of the cut-off date and their depletion for each of the time horizons established in the regulatory liquidity risk methodology (1 to 7 days, 1 to 30 days and 31 to 90 days), based on separate figures of our financial subsidiaries in Colombia at December 31, 2023 and 2022: December 31, 2023 Liquid assets available at the end From 31 to 90 Bank of the year (1) From 1 to 7 days (2) From 1 to 30 days (2) days (2) Banco de Bogota Ps. 11,924,823 Ps. 9,811,253 Ps. 2,568,828 Ps. (15,278,208) Banco Occidente 8,638,565 6,727,345 2,531,186 (8,473,508) Banco Popular 4,896,134 4,641,802 1,525,529 (5,458,950) Banco AV Villas 2,328,186 2,027,630 992,892 (2,408,230) Corficolombiana 2,073,055 1,138,855 222,748 (893,740) December 31, 2022 Liquid assets available at the end From 31 to 90 Bank of the year (1) From 1 to 7 days (2) From 1 to 30 days (2) days (2) Banco de Bogota Ps. 11,749,890 Ps. 10,865,287 Ps. 6,445,745 Ps. (15,602,231) Banco Occidente 7,858,675 6,955,066 3,243,471 (5,830,252) Banco Popular 5,283,312 4,141,163 1,588,642 (5,038,168) Banco AV Villas 2,299,072 1,828,016 487,831 (3,202,904) Corficolombiana 2,204,574 1,595,742 729,790 (358,231) (1) Liquid assets are the sum of assets that are easily convertible into cash. Fixed income investments at amortized cost and financial investments pledged as collateral or subject to any other type of encumbrance, preventive measure or of any nature, that prevent their free assignment or transfer, as well as those that have been transferred under repurchase agreements, simultaneous or temporary transfer of securities are excluded. Liquid assets are measured at fair value (market prices on the evaluation date). (2) This amount is the remaining value of the liquid assets in the specified time period, or the IRL, that is calculated as the difference between liquid assets and liquid assets requirement, according to the IRL methodology, the liquidity requirement is the difference of contractual cash inflows and contractual and non-contractual cash outflows during a given period. The following tables show the individual IRL Ratio as of December 31, 2023 and 2022 for each of our banks in Colombia and Corficolombiana, expressed in Ps billions and as a percentage: At December 31, Banco de Bogotá Banco de Occidente Banco Popular Banco AV Villas Corficolombiana 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 (in Ps) IRL – 7 days 9,811 10,865 5,610 5,338 4,642 4,141 2,028 1,828 1,207 1,542 IRL – 30 days 2,569 6,446 1,816 1,921 1,526 1,589 993 488 661 866 At December 31, Banco de Bogotá Banco de Occidente Banco Popular Banco AV Villas Corficolombiana 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 (in percentages) IRL – 7 days 564 1,328 419 744 1,925 463 775 488 255 358 IRL – 30 days 127 222 133 145 145 143 174 127 150 168 Supervised entities are required to calculate and report to the SFC on a weekly basis an indicator of short-term liquidity risk. The IRL is calculated in periods of 7 and 30 days and must be at least 100 percent. During 2023, Grupo Aval's Colombian banks met the minimum regulatory requirement. The liquidity calculations described above assume normal liquidity conditions, according to the contractual flows and historical experience of each of the financial subsidiaries. for extreme liquidity events caused by unusual deposit withdrawals, the financial subsidiaries have contingency plans that include available credit lines with other financial institutions and access to special lines of credit with Colombia´s Central Bank, in accordance with current regulations. These lines of credit are granted when required, and are collateralized by Colombian government securities or by a portfolio of high-quality loans, as specified in the Central Bank regulations. Grupo Aval´s financial subsidiaries did not access the Central Bank special lines of credit during the years ended at December 31, 2023 and 2022. The banks in each country are responsible for their liquidity position on a stand-alone basis. They have access to funding mechanisms with their central banks, and to funding through credit lines. Short-term credits are offered by correspondent banks and financing is granted by multilateral organizations, among others. The following is a breakdown shows the contractual undiscounted cash flows of the financial assets and liabilities including contractual interest receivable and payable at December 31, 2023 and 2022. December 31, 2023 Less than From one to six From six to twelve More than Assets one month months months a year Total Cash and cash equivalents Ps. 18,602,500 Ps. 857 Ps. 1,684 Ps. — Ps. 18,605,041 Trading investments in debt securities 280,749 291,449 702,337 7,344,266 8,618,801 Investments in debt securities at FVOCI 142,920 1,192,286 3,861,978 20,682,574 25,879,758 Investments in debt securities at amortized cost 693,748 2,693,803 2,947,927 2,434,713 8,770,191 Commercial loans 11,914,475 30,973,505 21,141,485 64,172,735 128,202,200 Consumer loans 2,158,202 7,770,536 8,209,258 63,814,118 81,952,114 Mortgages loans 343,857 978,325 1,013,632 33,229,142 35,564,956 Microcredit loans 38,412 87,318 86,420 146,971 359,121 Interbank and overnight funds 392,679 — — — 392,679 Trading derivatives 1,172,036 640,291 111,538 110,978 2,034,843 Hedging derivatives 47,977 — 685 — 48,662 Trade receivable 3,127,198 113,763 29,350 22,733,228 26,003,539 Other assets 156,961 — 5 720,429 877,395 Total Assets Ps. 39,071,714 Ps. 44,742,133 Ps. 38,106,299 Ps. 215,389,154 Ps. 337,309,300 Less than From one to six From six to twelve More than Liabilities one month months months a year Total Checking accounts Ps. 23,809,859 Ps. — Ps. — Ps. — Ps. 23,809,859 Time Deposits 14,800,170 35,683,285 24,156,548 21,322,829 95,962,832 Saving deposits 71,149,882 — — — 71,149,882 Other deposits 374,711 54,195 — 1,287 430,193 Interbank and overnight funds 13,305,891 1,788,786 — 20,877 15,115,554 Leases contracts 13,938 106,429 120,495 3,078,016 3,318,878 Borrowing from banks and other 1,663,276 6,250,680 3,090,588 11,827,108 22,831,652 Long-term debt 121,155 1,272,012 1,344,746 26,135,181 28,873,094 Borrowing from development entities 837,304 657,920 689,454 10,664,762 12,849,440 Trading derivatives 1,263,315 522,915 155,907 176,630 2,118,767 Hedging derivatives 204,251 305 5,252 6,722 216,530 Other liabilities 5,278,275 330,995 189,229 1,951,625 7,750,124 Total Liabilities Ps. 132,822,027 Ps. 46,667,522 Ps. 29,752,219 Ps. 75,185,037 Ps. 284,426,805 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 1,813,970 Ps. 80,012 Ps. 30,320 Ps. 497,844 Ps. 2,422,146 Standby letters of credit 606,747 89,801 925 39,000 736,473 Overdraft facility 2,264,226 — — — 2,264,226 Standby credit card facility 11,917,268 112,006 84,005 336,019 12,449,298 Undrawn approved loans 4,002,210 218,112 — — 4,220,322 Others 2,686,426 70,360 — — 2,756,786 Total Commitments Loans Ps. 23,290,847 Ps. 570,291 Ps. 115,250 Ps. 872,863 Ps. 24,849,251 December 31, 2022 Less than one From one to From six to More than a Assets month six months twelve months year Total Cash and cash equivalents Ps. 17,032,854 Ps. 3 Ps. — Ps. — Ps. 17,032,857 Trading investments in debt securities 418,517 342,829 543,610 3,327,753 4,632,709 Investments in debt securities at FVOCI 2,019,842 2,008,753 5,356,480 18,078,127 27,463,202 Investments in debt securities at amortized cost 837,574 3,332,038 3,352,039 3,060,353 10,582,004 Commercial loans 10,636,895 29,541,405 18,415,847 63,675,959 122,270,106 Consumer loans 2,189,168 7,398,698 7,879,319 64,072,652 81,539,837 Mortgages loans 272,343 857,162 867,775 29,404,640 31,401,920 Microcredit loans 33,737 83,934 82,723 140,790 341,184 Interbank and overnight funds 5,966,991 68 — — 5,967,059 Trading derivatives 1,242,228 367,115 199,530 254,096 2,062,969 Hedging derivatives 15,335 1,886 2,387 1,246 20,854 Trade receivable 2,510,396 161 15,517 21,234,935 23,761,009 Other assets 298,780 — 50,200 1,524,369 1,873,349 Total Assets Ps. 43,474,660 Ps. 43,934,052 Ps. 36,765,427 Ps. 204,774,920 Ps. 328,949,059 Less than one From one to From six to More than a Liabilities month six months twelve months year Total Checking accounts Ps. 25,932,054 Ps. — Ps. — Ps. — Ps. 25,932,054 Time Deposits 9,555,229 31,700,316 20,831,413 17,911,277 79,998,235 Saving deposits 74,293,894 — — — 74,293,894 Other deposits 538,387 301,996 — 1,124 841,507 Interbank and overnight funds 6,179,455 771,719 77,350 2,182,987 9,211,511 Leases contracts 12,387 90,521 140,578 2,200,644 2,444,130 Borrowing from banks and other 2,118,373 11,036,815 6,878,016 10,172,835 30,206,039 Long-term debt 356,759 3,550,122 1,144,997 31,041,844 36,093,722 Borrowing from development entities 178,136 1,439,502 485,447 6,426,663 8,529,748 Trading derivatives 860,852 579,886 230,643 278,889 1,950,270 Hedging derivatives 1,531 516 — 3,352 5,399 Other liabilities 4,155,257 145,183 — 1,993,490 6,293,930 Total Liabilities Ps. 124,182,314 Ps. 49,616,576 Ps. 29,788,444 Ps. 72,213,105 Ps. 275,800,439 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,129,962 Ps. 142,987 Ps. 61,140 Ps. 1,218,215 Ps. 3,552,304 Standby letters of credit 947,723 714 — 18 948,455 Overdraft facility 2,491,299 — — — 2,491,299 Standby credit card facility 11,263,240 125,933 94,450 377,799 11,861,422 Undrawn approved loans 3,133,043 98,505 — — 3,231,548 Others 1,023,527 — — — 1,023,527 Total Commitments Loans Ps. 20,988,794 Ps. 368,139 Ps. 155,590 Ps. 1,596,032 Ps. 23,108,555 |
Disclosure of risk management, regulatory capital management [text block] | 4.4 Regulatory capital management Grupo Aval Financial Conglomerate As a result of Colombian Law 1870 of 2017 (also known as the Financial Conglomerates Law), that came in effect on February 6, 2019, Grupo Aval has become subject to the inspection and supervision of the Superintendency of Finance (SFC, for its acronym in Spanish). This law created the legal categories of financial holding companies and of financial conglomerates, and gives the Colombian Finance minister the power, to impose capital adequacy requirements on the financial conglomerates on an aggregate/consolidated basis, among others. In compliance with Decree 774 issued on May 8th, 2018 by the Colombian Government that came in effect on 8th of November 2019 and the External Circular 012 of June 5, 2019 (in Spanish Circular Externa 012 del 5 de junio de 2019 Grupo Aval’s financial subsidiaries Decree 2555 of 2010 (as modified by Decree 1771 of 2012, Decree 1648 of 2014, Decree 2392 of 2015, Decrees 1477 of 2018 and 1421 of 2019) sets forth capital adequacy requirements for Colombian credit institutions. Starting on January 1, 2021, technical capital for Colombian credit institutions consisted of the sum of total Core Equity Tier I (CET1 or patrimonio básico ordinario), Additional Tier I capital (AT1 or patrimonio básico adicional), and Tier II capital (Tier II or patrimonio adicional). Tier I capital consist of the sum of CET1 (patrimonio básico ordinario) and AT1 (patrimonio básico adicional). Tier I and Tier II, as defined herein, may differ to the manner in which these terms are used in other jurisdictions. Pursuant to Decrees 1477 of 2018 and 1421 of 2019 Basel III principles were introduced to estimate adequate capital in credit institutions as follows: ● Total solvency ratio is defined as the value of the technical capital (CET1, AT1 and T2) calculated under the terms of the Decree 1477 of 2018 and the Decree 1421 of 2019, divided by risk-weighted assets by level of credit, market and operational risk, at a minimum of 9% . Pursuant to Decree 2555 of 2010 (as amended), the Superintendency of Finance must grant prior approval of the eligibility of a debt, equity or hybrid instrument in order to be classified as AT1; ● A minimum CET1 of 4.5% ; ● A minimum Tier I of 6% ; ● A capital conservation buffer of 1.5% consisting of CET1; ● A systemic risk buffer of 1.0% for systemically important financial institutions (SIFIS) consisting of CET1; and ● In addition, these Decrees established a minimum leverage ratio of 3% . These indicators (with the exception of the leverage ratio) must be achieved gradually from January 2021 to January 2024, in accordance with the transition plan established in the regulation. Banco de Bogotá is considered one of the systemically important financial institutions, according to Carta Circular 75 of November 30, 2023 and Carta Circular 72 of November 30, 2021 issued by the Superintendency of Finance, and therefore had to comply with the systemic buffer (explained above) during 2023 and 2022. The following chart presents the statutory transition period as set forth in the Decrees 1477 of 2018 and 1421 of 2019: (1) Requires highest quality of capital. (2) Only apply to SIFIs as defined by the Superintendency of Finance. Banco de Bogotá is the only systemic bank among our Colombian banking subsidiaries, in accordance with the methodology defined for the identification of entities with systemic importance (External Circular 030 of 2019 issued by the same Superintendency). In addition to compliance with minimum regulatory capital requirements, Grupo Aval’s entities aim to maintain capital positions that foster investor, creditor, and market confidence and to sustain future growth of their respective businesses. The capital allocation decision guards that there is balance between a more aggressive structure that can deliver higher returns on equity and a more conservative approach that encourages excess capitalization. Capital allocation decisions also considers each subsidiary’s long-term strategic objectives. The agreement detailed on Note 1 “Reporting Entity” Banco Popular S.A section, combined with the application of the provisions of Article 2.1.1.1.11 (“Deducciones del Patrimonio Básico Ordinario” or Deductions from Core Equity Tier 1) of the Colombian Decree 2555 of 2010, had a positive effect on the technical capital and capital adequacy of Banco de Bogotá S.A., Banco de Occidente S.A., and Banco Popular S.A. As of December 31 2023, and 2022, all of Grupo Aval´s individually regulated operations have complied with the minimum regulatory capital requirements. The following tables show the separate and consolidated (where applicable) capitalization information of our main direct and indirect subsidiaries: Banco de Bogotá S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 3,553 Ps. 3,553 Ps. 3,553 Ps. 3,553 Reserves and retained earnings 14,635,826 13,507,497 14,988,657 13,301,448 Other comprehensive income 8,114 51,008 (122,944) 41,828 Net income for the period 1,024,884 2,251,716 954,173 2,804,925 Non-controlling interests — — — — Deductions: Unconsolidated financial sector investments — (3,364,280) — (3,261,888) Goodwill and other intangibles (1,220,146) (1,054,448) (1,504,225) (1,416,196) Deferred tax assets (815,194) (1,306,888) (672,813) (1,035,857) Other — — (1,431) (111) Common Equity Tier One Capital - CET1 Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Subordinated instruments 2,573,696 3,135,871 2,573,696 3,135,871 Plus/minus others 160,637 424,829 — — Tier II capital 2,734,333 3,560,700 2,573,696 3,135,871 Other deductions from technical capital — — — — Technical capital Ps. 16,371,370 Ps. 13,648,858 Ps. 16,218,665 Ps. 13,573,572 Risk-weighted assets 76,811,668 68,771,856 91,625,712 88,898,130 Market risk 491,571 495,392 639,228 759,624 Market risk exposure (1) 5,461,900 5,504,360 7,102,531 8,440,262 Operational risk 521,135 527,420 612,546 577,099 Operational risk exposure (1) 5,790,384 5,860,219 6,806,068 6,412,206 Risk-weighted assets including regulatory market risk and operational risk Ps. 88,063,952 Ps. 80,136,435 Ps. 105,534,310 Ps. 103,750,598 CET1 solvency ratio 15.49% 12.59% 12.93% 10.06% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 15.49% 12.59% 12.93% 10.06% Tier II contribution to solvency ratio 3.10% 4.44% 2.44% 3.02% Total solvency ratio (2) 18.59% 17.03% 15.37% 13.08% Capital measure Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Exposure measure 120,114,582 106,717,652 141,766,918 136,096,623 Leverage ratio 11.35% 9.45% 9.62% 7.67% (1) (2) Banco de Occidente S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 4,677 Ps. 4,677 Ps. 4,677 Ps. 4,677 Reserves and retained earnings 4,782,349 4,525,930 4,996,111 4,791,295 Other comprehensive income 28,731 (124,708) 176,033 (65,254) Net income for the period 430,603 502,643 473,554 452,493 Non-controlling interests — — 11,843 — Deductions: Unconsolidated financial sector investments — (224,184) — (226,950) Goodwill and other intangibles (643,350) (586,129) (594,581) (533,300) Deferred tax assets (251,878) (144,581) — — Other (2,867) (4,190) (2,867) (4,190) CET1 Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Subordinated instruments 649,305 834,895 649,305 834,895 Plus/minus others 26,190 85,332 — — Tier II capital 675,495 920,227 649,305 834,895 Other deductions from technical capital — — — — Technical capital Ps. 5,023,760 Ps. 4,869,684 Ps. 5,714,075 Ps. 5,253,666 Risk-weighted assets 38,073,928 34,616,008 41,324,390 37,591,858 Market risk 184,778 229,199 218,356 272,515 Market risk exposure (1) 2,053,092 2,546,656 2,426,174 3,027,946 Operational risk 235,639 203,225 236,239 227,231 Operational risk exposure (1) 2,618,213 2,258,057 2,624,877 2,524,786 Risk-weighted assets including regulatory market risk and operational risk Ps. 42,745,234 Ps. 39,420,721 Ps. 46,375,441 Ps. 43,144,590 CET1 solvency ratio 10.17% 10.02% 10.92% 10.24% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 10.17% 10.02% 10.92% 10.24% Tier II contribution to solvency ratio 1.58% 2.33% 1.40% 1.94% Total solvency ratio (2) 11.75% 12.35% 12.32% 12.18% Capital measure Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Exposure measure 65,855,871 56,629,015 70,759,147 62,211,737 Leverage ratio 6.60% 6.97% 7.16% 7.10% (1) (2) Banco Comercial AV Villas S.A. Separate basis At December 31, 2023 2022 Subscribed and paid-in capital Ps. 22,297 Ps. 22,297 Reserves and retained earnings 1,658,248 1,524,474 Other comprehensive income 57,285 (30,491) Net income for the period (117,126) 112,035 Non-controlling interests — — Deductions: Unconsolidated financial sector investments — — Goodwill and other intangibles (159,586) (124,474) Deferred tax assets (10,239) — Other (123,976) (153,441) CET1 Ps. 1,326,904 Ps. 1,350,401 Hybrid instruments recognized as additional primary capital — — Other 176 176 AT1 176 176 Tier I Ps. 1,327,079 Ps. 1,350,576 Subordinated instruments — — Plus/minus others 24,471 25,317 Tier II capital 24,471 25,317 Other deductions from technical capital — — Technical capital Ps. 1,351,551 Ps. 1,375,893 Risk-weighted assets 10,054,415 10,419,661 Market risk 47,003 96,711 Market risk exposure (1) 522,254 1,074,571 Operational risk 95,732 81,824 Operational risk exposure (1) 1,063,689 909,158 Risk-weighted assets including regulatory market risk and operational risk Ps. 11,640,358 Ps. 12,403,391 CET1 solvency ratio 11.40% 10.89% AT1 contribution to solvency ratio 0.00% 0.00% Tier 1 capital solvency ratio 11.40% 10.89% Tier II contribution to solvency ratio 0.21% 0.20% Total solvency ratio (2) 11.61% 11.09% Capital measure Ps. 1,327,079 Ps. 1,350,576 Exposure measure 18,873,410 19,487,267 Leverage ratio 7.03% 6.93% (1) (2) Banco Popular S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 77,253 Ps. 77,253 Ps. 77,253 Ps. 77,253 Reserves and retained earnings 2,839,567 2,751,656 2,981,939 2,876,025 Other comprehensive income 79,481 68,673 222,322 198,193 Net income for the period (347,409) 73,035 (402,676) 80,210 Non-controlling interests — — 6,794,087 29,714 Deductions: Unconsolidated financial sector investments — (355,124) — (355,124) Goodwill and other intangibles (361,170) (288,139) (446,032) (293,825) Deferred tax assets — — — — Other (87,539) (157,747) (89,253) (157,747) CET1 Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Subordinated instruments 327,018 177,147 77,018 177,147 Plus/minus others 20,775 25,697 — — Tier II capital 347,793 202,844 77,018 177,147 Other deductions from technical capital — — (36,876) — Technical capital Ps. 2,547,976 Ps. 2,372,452 Ps. 9,177,782 Ps. 2,631,847 Risk-weighted assets 16,670,146 18,453,236 36,166,365 18,473,302 Market risk 83,118 136,503 336,718 147,685 Market risk exposure (1) 923,539 1,516,695 3,741,309 1,640,943 Operational risk 136,419 112,786 462,427 115,899 Operational risk exposure (1) 1,515,762 1,253,181 5,138,073 1,287,767 Risk-weighted assets including regulatory market risk and operational risk Ps. 19,109,447 Ps. 21,223,112 Ps. 45,045,747 Ps. 21,402,012 CET1 solvency ratio 11.51% 10.22% 20.29% 11.47% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 11.51% 10.22% 20.29% 11.47% Tier II contribution to solvency ratio 1.82% 0.96% 0.17% 0.83% Total solvency ratio (2) 13.33% 11.18% 20.37% 12.30% Capital measure Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Exposure measure 29,393,566 32,226,919 56,066,107 32,249,192 Leverage ratio 7.49% 6.73% 16.30% 7.61% (1) (2) Corficolombiana S.A. Starting November 22, 2023, Corficolombiana is consolidated under Banco Popular as a result of the shareholders’ agreement mentioned above. Notwithstanding the above, Corficolombiana has to comply with minimum capital requirements on a separate and consolidated basis. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 3,464 Ps. 3,464 Ps. 3,464 Ps. 3,464 Reserves and retained earnings 11,233,257 9,929,403 10,829,636 9,587,611 Other comprehensive income (76,643) (383,161) 366,032 47,709 Net income for the period 808,982 1,774,040 886,012 1,713,807 Non-controlling interests — — 1,380 1,210 Deductions: Unconsolidated financial sector investments — — — — Goodwill and other intangibles (99,130) (90,578) (78,011) (66,553) Deferred tax assets — — — (5,191) Other (1,480) (1,350) (5,964) (5,847) CET1 Ps. 11,868,451 Ps. 11,231,819 Ps. 12,002,549 Ps. 11,276,209 Hybrid instruments recognized as additional primary capital — — — — Other 192 192 192 192 AT1 192 192 192 192 Tier I Ps. 11,868,643 Ps. 11,232,011 Ps. 12,002,741 Ps. 11,276,401 Subordinated instruments — — — — Plus/minus others — — — — Tier II capital — — — — Other deductions from technical capital (36,876) (44,131) (36,876) (44,131) Technical capital Ps. 11,831,767 Ps. 11,187,880 Ps. 11,965,865 Ps. 11,232,270 Risk-weighted assets 19,894,398 18,323,118 20,189,704 18,238,986 Market risk 235,605 185,978 240,068 190,534 Market risk exposure (1) 2,617,835 2,066,426 2,667,427 2,117,047 Operational risk 290,604 259,287 298,733 303,453 Operational risk exposure (1) 3,228,933 2,880,964 3,319,258 3,371,697 Risk-weighted assets including regulatory market risk and operational risk Ps. 25,741,166 Ps. 23,270,508 Ps. 26,176,390 Ps. 23,727,731 CET1 solvency ratio 46.11% 48.27% 45.85% 47.52% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 46.11% 48.27% 45.85% 47.52% Tier II contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Total solvency ratio (2) 45.96% 48.08% 45.71% 47.34% Capital measure Ps. 11,868,643 Ps. 11,232,011 Ps. 12,002,741 Ps. 11,276,401 Exposure measure 27,068,698 24,099,107 27,699,079 24,589,959 Leverage ratio 43.85% 46.61% 43.33% 45.86% (1) (2) Porvenir S.A. Likewise, Porvenir has adequately complied with the capital requirements established for pensions fund administrators in Colombia. The following is the detail of the capital requirements defined for this type of financial institution: Separate basis At December 31, 2023 2022 Subscribed and paid-in capital Ps. 109,211 Ps. 109,211 Reserves and retained earnings 2,265,587 2,312,131 Deductions: Others (50,626) (50,626) Primary capital Ps. 2,324,172 Ps. 2,370,715 Unrealized gains/losses on securities available for sale(1) (8,474) (31,628) Secondary capital (Tier II) Ps. (8,474) Ps. (31,628) Deductions: Value of the stabilization reserve (1,911,568) (1,781,676) Technical capital Ps. 404,130 Ps. 557,412 Risk-weighted assets 886,689 907,164 Market risk 10,927 13,808 Market risk exposure (1) 121,408 153,419 Operational risk 122,398 127,819 Operational risk exposure (1) 1,359,975 1,420,213 Risk-weighted assets including regulatory market risk and operational risk Ps. 2,368,072 Ps. 2,480,795 Solvency ratio (3) 17.07% 22.47% (1) (2) (3) |
ESTIMATION OF FAIR VALUE
ESTIMATION OF FAIR VALUE | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of estimations of fair value [abstract] | |
ESTIMATION OF FAIR VALUE | NOTE 5 – ESTIMATION OF FAIR VALUE The fair value of the financial assets and liabilities traded in active markets (such as financial assets in debt securities, equity securities and derivatives actively listed in stock exchanges or interbank markets) is based on dirty prices supplied by a price vendor. A dirty price includes accrued unpaid interest on the security, from the date of issuance or last payment of interest, up the date at which the security is valued. An active market is a market where transactions for assets or liabilities are carried out with sufficient frequency and volume in order to provide price information on an ongoing basis. The fair value of financial assets and liabilities that are not traded in an active market is determined through appraisal techniques determined by the price supplier or by the management of Grupo Aval’s entities. Appraisal techniques used for non-standardized financial instruments such as options, foreign exchange swaps and derivatives of the over-the-counter market, which include the use of interest rate or currency assessment curves built by providers and extrapolated to the specific conditions of the instrument being appraised, discounted cash flow analysis, options pricing models and other valuation techniques commonly used by market participants who rely mostly on market data and the least possible on specific data of entities. Grupo Aval may use models developed internally for financial instruments with no active markets. These models are usually based on valuation techniques and methods generally standardized in the financial sector. The valuation models are mainly used for appraising financial equity instruments not listed on the stock exchange, debt certificates and other debt instruments for which the markets were or have been inactive during the financial period. Some inputs of these models may not be observable in the market and are therefore estimated based on assumptions. The output of a model is always an estimate or approximation of a value that cannot be determined with certainty, and the valuation techniques used may not fully reflect all the factors relevant to the positions of Grupo Aval. Therefore, the appraisals are adjusted, if necessary, to allow for additional factors, including country risk, liquidity risks and counterparty risks. The fair value hierarchy has the following levels: ● Level 1 inputs are quoted prices (unadjusted) in active markets for assets or liabilities identical to those which the entity can access as of the date of measurement. ● Level 2 inputs are inputs different than quoted prices included in Level 1 that are observable for the asset or liability, whether directly or indirectly in non-active markets. ● Level 3 inputs are unobservable inputs for the asset or liability. The level in the fair value hierarchy within which fair value measurement is classified in whole is determined based on the input of the lowest level that is most significant for measuring its total fair value. For such purpose, the relevance of an input is assessed in connection with the measurement of the total fair value. Financial instruments that are listed in markets that are not deemed active, but which are valued based in accordance with quoted market prices, quotes from price vendors or alternative price sources supported by observable inputs, are classified in Level 2. If a fair value measurement uses observable inputs that require significant adjustments based on unobservable inputs, this measurement is classified as Level 3. The assessment of the importance of a particular input to the measurement of fair value in whole requires judgment, taking into account specific factors of the asset or liability. Determining what is deemed as ‘observable’ requires a significant judgment by Grupo Aval. Grupo Aval considers as observable data the market data which is already available, distributed or updated by the price suppliers, and it is reliable and verifiable, with no property rights, and provided by independent sources which are actively involved in the reference market. 5.1 Measurements of Fair Value on a Recurring Basis Measurements of fair value on a recurring basis are those required or allowed in statement of financial position at the end of each accounting period. The following table presents an analysis, within the hierarchy of fair value, of Grupo Aval´s assets and liabilities (by class), measured at fair value as of December 31, 2023 and 2022, on a recurring basis. December 31, 2023 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 5,692,937 Ps. 101,895 Ps. — Ps. 5,794,832 Securities issued or secured by other Colombian Government entities — 155,737 — 155,737 Securities issued or secured by foreign Governments 382 31,697 — 32,079 Securities issued or secured by other financial entities — 1,084,461 — 1,084,461 Securities issued or secured by non-financial sector entities — 6,406 — 6,406 Others — 39,865 — 39,865 Total trading investments Ps. 5,693,319 Ps. 1,420,061 Ps. — Ps. 7,113,380 Investments in debt securities at fair value through profit or loss Others — — 1,889 1,889 Total investments in debt securities at fair value through profit or loss Ps. 5,693,319 Ps. 1,420,061 Ps. 1,889 Ps. 7,115,269 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government Ps. 14,223,066 Ps. 2,567,727 Ps. — Ps. 16,790,793 Securities issued or secured by other Colombian Government entities 538,200 325,588 — 863,788 Securities issued or secured by foreign Governments 1,141,875 1,365,163 — 2,507,038 Level 1 Level 2 Level 3 Total Securities issued or secured by central banks — 145,489 — 145,489 Securities issued or secured by other financial entities — 2,142,647 — 2,142,647 Securities issued or secured by non-financial sector entities — 214,571 — 214,571 Others 1,457 660,993 — 662,450 Total investments in debt securities at fair value through OCI Ps. 15,904,598 Ps. 7,422,178 Ps. — Ps. 23,326,776 Total investments in debt securities Ps. 21,597,917 Ps. 8,842,239 Ps. 1,889 Ps. 30,442,045 Equity securities Trading equity securities Ps. 8,949 Ps. 3,605,832 Ps. 2,645,393 Ps. 6,260,174 Investments in equity through OCI 992,136 380 124,833 1,117,349 Total equity securities Ps. 1,001,085 Ps. 3,606,212 Ps. 2,770,226 Ps. 7,377,523 Held for trading derivatives Currency forward Ps. — Ps. 1,666,852 Ps. — Ps. 1,666,852 Debt securities forward — 19,258 — 19,258 Interest rate swap 212 308,156 — 308,368 Currency swap — 20,195 — 20,195 Currency options — 62,894 — 62,894 Total held for trading derivatives Ps. 212 Ps. 2,077,355 Ps. — Ps. 2,077,567 Hedging derivatives Currency forward — 687 — 687 Interest rate swap — 47,975 — 47,975 Total hedging derivatives Ps. — Ps. 48,662 Ps. — Ps. 48,662 Other account receivables Financial assets in concession contracts — — 3,830,916 3,830,916 Total other account receivables designated at fair value Ps. — Ps. — Ps. 3,830,916 Ps. 3,830,916 Non- financial assets Biological assets — — 230,672 230,672 Investment properties — — 906,469 906,469 Total non- financial assets Ps. — Ps. — Ps. 1,137,141 Ps. 1,137,141 Total assets at fair value on recurring basis Ps. 22,599,214 Ps. 14,574,468 Ps. 7,740,172 Ps. 44,913,854 Liabilities Trading derivatives Currency forward Ps. — Ps. 1,546,577 Ps. — Ps. 1,546,577 Debt securities forward — 129,345 — 129,345 Interest rate futures 3,752 — — 3,752 Interest rate swap 396 329,358 — 329,754 Currency swap — 60,846 — 60,846 Currency options — 84,087 — 84,087 Total trading derivatives Ps. 4,148 Ps. 2,150,213 Ps. — Ps. 2,154,361 Hedging derivatives Currency forward Ps. — Ps. 204,202 Ps. — Ps. 204,202 Interest rate swap — 13,364 — 13,364 Total hedging derivatives Ps. — Ps. 217,566 Ps. — Ps. 217,566 Total liabilities at fair value on recurring basis Ps. 4,148 Ps. 2,367,779 Ps. — Ps. 2,371,927 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 2,536,952 Ps. 284,449 Ps. — Ps. 2,821,401 Securities issued or secured by other Colombian Government entities — 194,150 — 194,150 Securities issued or secured by foreign Governments — 57,600 — 57,600 Securities issued or secured by other financial entities — 651,807 — 651,807 Securities issued or secured by non-financial sector entities — 11,349 — 11,349 Others — 24,580 — 24,580 Total trading investments Ps. 2,536,952 Ps. 1,223,935 Ps. — Ps. 3,760,887 Investments in debt securities at fair value through profit or loss Others — — 1,378 1,378 Level 1 Level 2 Level 3 Total Total investments in debt securities at fair value through profit or loss Ps. 2,536,952 Ps. 1,223,935 Ps. 1,378 Ps. 3,762,265 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government Ps. 12,592,025 Ps. 2,960,847 Ps. — Ps. 15,552,872 Securities issued or secured by other Colombian Government entities 510,913 278,335 — 789,248 Securities issued or secured by foreign Governments 1,622,089 1,774,366 — 3,396,455 Securities issued or secured by central banks — 194,098 — 194,098 Securities issued or secured by other financial entities — 1,622,899 5 1,622,904 Securities issued or secured by non-financial sector entities — 53,807 — 53,807 Others 1,796 850,625 — 852,421 Total investments in debt securities at fair value through OCI Ps. 14,726,823 Ps. 7,734,977 Ps. 5 Ps. 22,461,805 Total investments in debt securities Ps. 17,263,775 Ps. 8,958,912 Ps. 1,383 Ps. 26,224,070 Equity securities Trading equity securities Ps. 4,040 Ps. 4,338,026 Ps. 1,697,049 Ps. 6,039,115 Investments in equity through OCI 871,149 352 605,231 1,476,732 Total equity securities Ps. 875,189 Ps. 4,338,378 Ps. 2,302,280 Ps. 7,515,847 Held for trading derivatives Currency forward Ps. — Ps. 1,227,660 Ps. — Ps. 1,227,660 Debt securities forward — 4,418 — 4,418 Interest rate swap — 524,528 — 524,528 Currency swap — 157,747 — 157,747 Currency options — 127,052 — 127,052 Total held for trading derivatives Ps. — Ps. 2,041,405 Ps. — Ps. 2,041,405 Hedging derivatives Currency forward — 4,830 — 4,830 Interest rate swap — 16,024 — 16,024 Total hedging derivatives Ps. — Ps. 20,854 Ps. — Ps. 20,854 Other account receivables Financial assets in concession contracts — — 3,507,231 3,507,231 Total other account receivables designated at fair value Ps. — Ps. — Ps. 3,507,231 Ps. 3,507,231 Non- financial assets Biological assets — — 212,630 212,630 Investment properties — — 880,963 880,963 Total non- financial assets Ps. — Ps. — Ps. 1,093,593 Ps. 1,093,593 Total assets at fair value on recurring basis Ps. 18,138,964 Ps. 15,359,549 Ps. 6,904,487 Ps. 40,403,000 Liabilities Trading derivatives Currency forward Ps. — Ps. 885,933 Ps. — Ps. 885,933 Debt securities forward — 5,248 — 5,248 Interest rate futures 2,107 — — 2,107 Interest rate swap — 608,288 — 608,288 Currency swap — 112,600 — 112,600 Currency options — 143,430 — 143,430 Total trading derivatives Ps. 2,107 Ps. 1,755,499 Ps. — Ps. 1,757,606 Hedging derivatives Currency forward Ps. — Ps. 1,553 Ps. — Ps. 1,553 Interest rate swap — 2,015 — 2,015 Total hedging derivatives Ps. — Ps. 3,568 Ps. — Ps. 3,568 Total liabilities at fair value on recurring basis Ps. 2,107 Ps. 1,759,067 Ps. — Ps. 1,761,174 5.1.1. Trading assets in debt securities pledged as collateral The following is a list of held-for-trading financial assets that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks. December 31, 2023 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 2,702,953 Ps. — Ps. — Ps. 2,702,953 Securities issued or secured by other financial entities — 71,343 — 71,343 Ps. 2,702,953 Ps. 71,343 Ps. — Ps. 2,774,296 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 78,990 Ps. — Ps. — Ps. 78,990 Ps. 78,990 Ps. — Ps. — Ps. 78,990 Ps. 2,781,943 Ps. 71,343 Ps. — Ps. 2,853,286 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) December 31, 2022 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 1,803,296 Ps. 137,298 Ps. — Ps. 1,940,594 Securities issued or secured by other Colombian Government entities — 1,006 — 1,006 Securities issued or secured by other financial entities — 4,980 — 4,980 Ps. 1,803,296 Ps. 143,284 Ps. — Ps. 1,946,580 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 52,153 Ps. — Ps. — Ps. 52,153 Ps. 52,153 Ps. — Ps. — Ps. 52,153 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 1,292 Ps. — Ps. — Ps. 1,292 Ps. 1,292 Ps. — Ps. — Ps. 1,292 Ps. 1,856,741 Ps. 143,284 Ps. — Ps. 2,000,025 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) 5.1.2 Investment in debt at FVOCI securities pledged as collateral The following is a list of debt securities at FVOCI that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks. December 31, 2023 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 8,571,208 Ps. 72,819 Ps. — Ps. 8,644,027 Securities issued or secured by other Colombian Government entities 15,464 39,785 — 55,249 Securities issued or secured by other financial entities — 18,479 — 18,479 Securities issued or secured by non-financial sector entities — 118,865 — 118,865 Securities issued or secured by foreign Governments 662,623 40,262 — 702,885 Securities issued or secured by central banks — 15,185 — 15,185 Others — 155,713 — 155,713 Ps. 9,249,295 Ps. 461,108 Ps. — Ps. 9,710,403 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 3,650 Ps. — Ps. — Ps. 3,650 Ps. 3,650 Ps. — Ps. — Ps. 3,650 Pledged as collateral to special entities such as CRCC, BR and BVC (*) December 31, 2023 Level 1 Level 2 Level 3 Total Securities issued or secured by Colombian Government Ps. 1,075,909 Ps. — Ps. — Ps. 1,075,909 Ps. 1,075,909 Ps. — Ps. — Ps. 1,075,909 Ps. 10,328,854 Ps. 461,108 Ps. — Ps. 10,789,962 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) December 31, 2022 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 3,718,431 Ps. 696,435 Ps. — Ps. 4,414,866 Securities issued or secured by other Colombian Government entities 138,474 37,047 — 175,521 Securities issued or secured by other financial entities — 89,982 — 89,982 Securities issued or secured by non-financial sector entities — 32,955 — 32,955 Securities issued or secured by foreign Governments 1,376,551 275,245 — 1,651,796 Securities issued or secured by central banks — 39,212 — 39,212 Others — 163,156 — 163,156 Ps. 5,233,456 Ps. 1,334,032 Ps. — Ps. 6,567,488 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 10,177 Ps. — Ps. — Ps. 10,177 Ps. 10,177 Ps. — Ps. — Ps. 10,177 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 1,145,747 Ps. — Ps. — Ps. 1,145,747 Ps. 1,145,747 Ps. — Ps. — Ps. 1,145,747 Ps. 6,389,380 Ps. 1,334,032 Ps. — Ps. 7,723,412 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) 5.2 Items Measured at Fair Value on a Non-Recurring Basis Grupo Aval is required on a nonrecurring basis to adjust the carrying value of certain assets and liabilities or provide valuation allowances. These assets or liabilities primarily include impaired collateralized loans and non-current assets held for sale. The fair value of these assets which are classified as Level 3 are determined using pricing models, discounted cash flow methodologies, current replacement cost or similar techniques, using internal models or external experts with sufficient experience and knowledge of the real estate market or of assets being appraised. Generally, these appraisals are carried out by references to market data or based on the replacement cost when sufficient market data is not available. The following table presents Grupo Aval’s assets and liabilities, classified within the fair value hierarchy, which are measured on a nonrecurring basis as of December 31, 2023 and 2022 at fair value less cost of sale: Level 1 Level 2 Level 3 Total December 31, 2023 Impaired collateralized loans Ps. — Ps. — Ps. 1,494,862 Ps. 1,494,862 Non- current assets held for sale — — 101,184 101,184 Ps. — Ps. — Ps. 1,596,046 Ps. 1,596,046 Level 1 Level 2 Level 3 Total December 31, 2022 Impaired collateralized loans Ps. — Ps. — Ps. 1,740,705 Ps. 1,740,705 Non- current assets held for sale — — 92,830 92,830 Ps. — Ps. — Ps. 1,833,535 Ps. 1,833,535 5.3 Fair Value determination The following tables provide information about valuation techniques and significant inputs when measuring fair value on a recurring basis for assets and liabilities, with fair value hierarchy classification of level 2 or level 3. Level 2 instruments are those which are valued using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly. The following table provides information about valuation techniques and significant inputs when measuring fair value on a recurring basis for assets and liabilities classified as level 2. ASSETS AND LIABILITIES Valuation technique Level 2 Significant inputs Investments in debt securities at fair value In Colombian Pesos Securities issued or secured by the Colombian Government (1) (2) Securities issued or secured by other Colombian Government entities (1) (2) In Foreign Currency Securities issued or secured by the Colombian Government Income approach Theoretical price / estimated price (1) (2) Securities issued or secured by foreign Governments (2) Securities issued or secured by central banks Market approach Bloomberg Generic Securities issued or secured by other financial entities (1) (2) Securities issued or secured by non-financial sector entities (1) (2) Equity securities Corporate stock Market approach Estimated prices (1) Investment funds (2) Market approach Market value of underlying assets, less management and administrative fees Trading derivatives Foreign currency forward Discounted cash flow (2) Debt securities forward Income approach Discounted cash flow Interest rate swap Discounted cash flow ASSETS AND LIABILITIES Valuation technique Level 2 Significant inputs Currency options Hedging derivatives Currency forward Discounted cash flow Interest rate swap Income approach Discounted cash flow (1) Estimated Price: A valuation model based on information obtained from a price vendor when it is not able to supply quoted prices (unadjusted) for each security. This model is the basis for the construction of the valuation margin of the securities that is represented on the assigned curve or reference rate. This margin remains constant on the assigned curve or reference rate when calculating the theoretical valuation price. (2) Quoted market prices (i.e. obtained from price vendors). The subsidiary Porvenir S. A. according to Colombian rules is required to invest to 1% of its total assets under management from severance and mandatory pension funds. The following table provides information about valuation techniques and significant unobservable inputs when measuring Level 3 assets and liabilities at recurring fair value. ASSETS Valuation technique Level 3 Significant inputs Investments in debt securities at fair value In Colombian Pesos Others Income approach Yield and margin In Foreign Currency Securities issued or secured by other financial entities Income approach Equity securities Investments in equity securities (1.1) - Growth in values after 5 years Investments in equity instruments through profit or loss - Nexus (1.2) Market Comparison Market Comparison Other financial assets Assets under concession contracts Discounted cash flow - Free-cash flow from concession contracts Non-financial assets Biological assets Discounted cash flow The processes used to collect data and determine the fair value of biological assets are described in (3) Investment properties Discounted cash flow The processes used to collect data and determine the fair value of investment properties are described in (4) (1.1) Valuation of equity securities and investment funds Level 3 Investments with fair value hierarchy level 3 have significant unobservable inputs. Level 3 instruments include equity instruments and investments in real estate, the private equity funds, which are not quoted on any stock exchange. Given that observable prices are not available for these securities, Grupo Aval has used valuation techniques as discounted cash flows and comparable multiples to obtain fair value. The following table includes a sensitivity analysis of main equity securities amounting to Ps. 81,925 as of December 31, 2023 classified at FVOCI level 3. Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times + /-1 x Ps. 557 Ps. (556) Adjusted discounted cash flow Growth in residual values after 5 years + /- 1 % 281 (240) Income + /- 1 % 1,035 (1,046) Discount interest rates + /- 50 pb 1,066 (988) Gradient + /- 30 pb 257 (263) Ps. 3,196 Ps. (3,093) The following table includes a sensitivity analysis of main equity securities amounting to Ps. 55,027 as of December 31, 2022 classified at FVOCI level 3. Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times + /- 1 x Ps. 5,039 Ps. (5,043) Adjusted discounted cash flow Growth in residual values after 5 years + /- 1 % 250 (217) + /- 30 pb 305 (267) Income + /- 1 % 1,790 (1,680) Discount interest rates + /- 50 pb 1,078 (976) Ps. 8,462 Ps. (8,183) (1.2) Valuation of equity instruments through profit or loss The fair value of real state capital funds’ investments classified in level 3 have significant unobservable inputs. These Level 3 instruments include primarily investments in equity instruments, which are not publicly traded. In other cases, such as the Nexus Real Estate Capital Funds, the investments are valued using their unit value (Commercial appraisal). Given that observable prices are not available for these investments, Grupo Aval uses valuation techniques to obtain the fair value. The following table includes a sensitivity analysis of main equity securities amounting Ps. 2,567,099 Includes investments in the Nexus Real Estate Capital Funds as of December 31, 2023, classified at FVTPL level 3: Scenario 1 Scenario 2 Sensitivity impacts Ps. 38,209 Ps. (75,156) Ps. 38,209 Ps. (75,156) The following table includes a sensitivity analysis of main equity securities amounting Ps. 1,602,297 Includes investments in the Nexus Real Estate Capital Funds as of December 31, 2022, classified at FVTPL level 3: Scenario 1 Scenario 2 Sensitivity impacts Ps. 17,951 Ps. (29,162) Ps. 17,951 Ps. (29,162) Scenario 1 Increases in the sensitivity of: Market value (square meter) +10% Market income +10% Initial capitalization rate +50 bp Cash flow discount rate +50 bp Scenario 2 Decreases in the sensitivity of: Market value (square meter) -10% Market income -10% Initial capitalization rate -50 bp Cash flow discount rate -50 bp (2) Valuation of financial assets under Gas and Energy concession arrangement rights Promigas and subsidiaries, designated the financial assets under concession contracts at fair value, the method used to estimate it is discounted cash flows. The assumptions and inputs used in the calculation of the financial asset estimate were: ● The expiration date of each concession contract. ● The proportion of the expiry period left of each of the concession contracts in force. ● Operational cash flows (only) of the assets under concession. The components of the calculations are the following: ● Free cash flow generated solely by assets under concession. ● Expiry period of the concession. ● Amount in - perpetuity of the Free Cash Flow (FCF) of the year, estimated factoring in a growth in the residual amount between 1% and 3% each year. ● Current amount of the residual amount Weighted Average Cost of Capital (WACC), between 8.66% and 8.90% each year. ● Financial income: annual adjustment of financial asset balance to WACC (*). (*) Nominal WACC calculated under the Capital Asset Pricing Model (CAPM) methodology for each entity, updated annually. The following variables were used for determining the WACC: ● Beta unlevered USA (Oil/Gas Distribution): Damodaran. (Unlevered Beta 0.66, 2022) ● Risk Free Rate, Source: Geometric Average 1998-2022 of American bonds “T-Bonds”. ● Market Return, Source: Geometric Average 1998-2022 Damodaran “Stocks” USA. ● Market Premium: Market Return – Risk Free Rate. ● Country Risk Premium: Average last 5 years EMBI (Difference between 10-year Colombian sovereign bonds and 10 years “T-Bonds”). Damodaran. ● Emerging Market: Equity Premium Emerging countries (Lambda - Damodaran) Sensitivity analysis The following table includes a sensitivity analysis of the assumptions used by Promigas and its subsidiaries in the calculation of fair value of unconditional transfer rights of gas pipelines to Government entities at the expiration date of the contracts. The value of the financial asset at December 31, 2023 is Ps. 3,830,916 and Ps. 3,507,231 at 2022, the sensitivity analysis shows their increase or decrease. December 31, 2023 December 31, 2022 Variable +100 bps -100 bps +100 bps -100 bps WACC Ps. (864,845) Ps. 1,316,441 Ps. (827,154) Ps. 1,279,273 Perpetuity growth rate 785,847 (552,066) 746,633 (518,685) (*) (3) Biological Assets Fair value of Grupo Aval subsidiaries “biological assets”, which correspond to agricultural activities related to biological assets (animals or plants), is estimated based on internal reports prepared by the companies who own such assets. Fair value of biological assets is determined using valuations performed by experienced internal professionals, using discounted cash flow models. Since no comparable market exist for the biological assets, given their nature, their fair value is determined using discounted cash flows models for each biological asset, based on estimated future quantities of crops, prices, harvesting costs, and maintenance and crop yields, among others, discounted using a risk-free rate adjusted by an appropriate risk premium. See note 15. The main assumptions used for determining the fair value of the principal biological assets are as follows: 1. Biological assets growing in rubber crops: The price of natural rubber used to calculate the 2024-2026 cash flows was forecasted based on the average of the last 3 years of the Technically Specified Rubber (TSR20) per ton January 2021 Ps. 0.44 (US$ 1,690/Ton), in order to reflect the behavior of the commodity for an entire economic cycle. Forecasted prices are adjusted annually based on the expected US inflation rate. 2. Biological assets growing in African palm crops: The price of African palm oil (US$ per ton) used to calculate the 2024-2025 cash flows was forecasted based on the average price of palm oil since January 2022 Ps. 0.31 (US$ 1,165.9/Ton), in order to reflect the behavior of the commodity for an entire economic cycle. Forecasted prices are adjusted annually with the expected US inflation rate. (4) Investment properties Investment properties are recognized at fair value, based on a valuation made at each year-end period using, as a basis, independent appraisal expert whose report is obtained and reviewed by management. While in the countries in which we operate, the frequency of transactions in the real state sector is low compared to other more developed markets, management believes there are enough references to assess the fair value of investment properties owned by Grupo Aval and its subsidiaries based on comparable market transactions (See note 15.3). Fire-sales are excluded from the comparable transactions used to estimate the fair-value of investment properties. Management has reviewed the main assumptions used by the independent external appraisers (such as inflation, interest rates, etc.) and believes they are consistent with market conditions at each end of period. However, management believes that the estimation of the fair value of investment properties depends on significant judgment from the independent expert appraisers, and as such, there could be a significant probability that the actual price of sale of a prop |
CLASSIFICATION OF FINANCIAL ASS
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES | 12 Months Ended |
Dec. 31, 2023 | |
Classification of financial assets and financial liabilities [abstract] | |
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES | NOTE 6 – CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES See accounting policies in Notes 2(2.5). The following table provides a reconciliation of gross amount between line items in the consolidated statement of financial position and categories of financial instruments as of December 31, 2023 and 2022. Mandatorily FVOCI – FVOCI – Total December 31, 2023 at debt equity Amortized gross carrying Assets Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 18,597,861 Ps. 18,597,861 Trading assets 8 15,451,121 — — — 15,451,121 Debt securities 7,113,380 — — — 7,113,380 Equity securities 6,260,174 — — — 6,260,174 Derivative assets 2,077,567 — — — 2,077,567 Investment securities 9 1,889 23,326,776 1,117,349 9,996,561 34,442,575 Measured at fair value 1,889 23,326,776 1,117,349 — 24,446,014 Measured at amortized cost — — — 9,996,561 9,996,561 Loans 11 — — — 186,203,770 186,203,770 Other accounts receivable 12 3,830,916 — — 22,171,973 26,002,889 Measured at fair value 3,830,916 — — — 3,830,916 Measured at amortized cost — — — 22,171,973 22,171,973 Hedging derivative assets 10 48,662 — — — 48,662 Total financial assets Ps. 19,332,588 Ps. 23,326,776 Ps. 1,117,349 Ps. 236,970,165 Ps. 280,746,878 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized gross carrying Liabilities Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 2,154,361 Ps. — Ps. — Ps. — Ps. 2,154,361 Hedging derivative liabilities 10 217,566 — — — 217,566 Customer deposits 20 — — — 181,987,396 181,987,396 Financial obligations 21 — — — 65,541,339 65,541,339 Total financial liabilities Ps. 2,371,927 Ps. — Ps. — Ps. 247,528,735 Ps. 249,900,662 Mandatorily FVOCI – FVOCI – Total December 31, 2022 at debt equity Amortized gross carrying Assets Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 17,032,857 Ps. 17,032,857 Trading assets 8 11,841,407 — — — 11,841,407 Debt securities 3,760,887 — — — 3,760,887 Equity securities 6,039,115 — — — 6,039,115 Derivative assets 2,041,405 — — — 2,041,405 Investment securities 9 1,378 22,461,805 1,476,732 9,771,492 33,711,407 Measured at fair value 1,378 22,461,805 1,476,732 — 23,939,915 Measured at amortized cost — — — 9,771,492 9,771,492 Loans 11 — — — 188,313,361 188,313,361 Other accounts receivable 12 3,507,231 — — 20,255,758 23,762,989 Measured at fair value 3,507,231 — — — 3,507,231 Measured at amortized cost — — — 20,255,758 20,255,758 Hedging derivative assets 10 20,854 — — — 20,854 Total financial assets Ps. 15,370,870 Ps. 22,461,805 Ps. 1,476,732 Ps. 235,373,468 Ps. 274,682,875 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized gross carrying Liabilities Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 1,757,606 Ps. — Ps. — Ps. — Ps. 1,757,606 Hedging derivative liabilities 10 3,568 — — — 3,568 Customer deposits 20 — — — 173,341,149 173,341,149 Financial obligations 21 — — — 72,116,775 72,116,775 Total financial liabilities Ps. 1,761,174 Ps. — Ps. — Ps. 245,457,924 Ps. 247,219,098 As of December 31, 2023, and 2022 there are not any reclassifications of financial assets and liabilities. |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 7 – CASH AND CASH EQUIVALENTS Balances of cash and cash equivalents comprise the following as of December 31, 2023 and 2022: December 31, 2023 December 31, 2022 In Colombian Pesos Cash Ps. 3,723,337 Ps. 3,663,165 Deposits in the Colombian central bank 6,795,015 4,541,687 Demand deposits in banks and other financial entities 549,084 1,712,116 Clearing houses 488 2,109 Liquidity management 1,312,622 4,013 Cash held for specific purposes (1) 1,220,609 1,136,975 Ps. 13,601,155 Ps. 11,060,065 In foreign currency Cash Ps. 85,775 Ps. 103,696 Demand deposits in banks and other financial entities 4,600,966 5,245,531 Liquidity management 309,965 623,565 Ps. 4,996,706 Ps. 5,972,792 Total cash and cash equivalents Ps. 18,597,861 Ps. 17,032,857 (1) Grupo Aval´s banking subsidiaries had cash reserves to comply with the mandatory (see note 4.3) amount for time deposits, checking accounts and savings accounts for Ps. 8,964,594 and Ps. 8,694,583 as of December 31, 2023 and 2022, respectively. |
TRADING ASSETS AND LIABILITIES
TRADING ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2023 | |
Trading assets and liabilities [abstract] | |
TRADING ASSETS AND LIABILITIES | NOTE 8 – TRADING ASSETS AND LIABILITIES Balances of trading asset and liabilities comprise the following as of December 31, 2023 and 2022: December 31, December 31, Note 2023 2022 Trading assets Debt securities 8.1 Ps. 7,113,380 Ps. 3,760,887 Equity securities 8.2 6,260,174 6,039,115 Derivative assets 8.3 2,077,567 2,041,405 Ps. 15,451,121 Ps. 11,841,407 Trading liabilities Derivative liabilities 8.3 2,154,361 1,757,606 Ps. 2,154,361 Ps. 1,757,606 Total trading assets and liabilities net Ps. 13,296,760 Ps. 10,083,801 8.1 Trading investments in debt securities The following is the balance at December 31, 2023 and 2022. December 31, December 31, 2023 2022 Securities issued or secured by the Colombian Government Ps. 5,794,832 Ps. 2,821,401 Securities issued or secured by other Colombian Government entities 155,737 194,150 Securities issued or secured by foreign Governments 32,079 57,600 Securities issued or secured by other financial entities 1,084,461 651,807 Securities issued or secured by non-financial sector entities 6,406 11,349 Others 39,865 24,580 Total trading debt securities Ps. 7,113,380 Ps. 3,760,887 8.2 Trading investments in equity securities The following is the balance at December 31, 2023 and 2022. December 31, December 31, 2023 2022 In Colombian Pesos Corporate stock Ps. 8,949 Ps. 4,040 Investment funds (1) 4,079,070 3,855,604 Pension and severance funds (2) 2,084,955 2,072,765 Ps. 6,172,974 Ps. 5,932,409 In foreign currency Corporate stock Ps. 4,100 Ps. 5,490 Investment funds 83,100 101,216 Ps. 87,200 Ps. 106,706 Total equity securities Ps. 6,260,174 Ps. 6,039,115 (1) (2) 8.3 Trading derivatives assets and liabilities Trading derivative assets and liabilities comprise the following as of December 31, 2023 and 2022. December 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 2,805 Ps. 1,543,886 Ps. 928,797 Ps. 261,614 Foreign currency to sell 1,664,047 2,691 298,863 624,319 Debt securities to buy 18,895 589 104 996 Debt securities to sell 363 128,757 4,314 4,252 Subtotal Ps. 1,686,110 Ps. 1,675,923 Ps. 1,232,078 Ps. 891,181 Swap Cross currency 20,195 60,845 157,747 112,600 Interest rate 308,368 329,754 524,528 608,288 Subtotal Ps. 328,563 Ps. 390,599 Ps. 682,275 Ps. 720,888 Futures contracts Interest rate to sell — 3,752 — 2,107 Subtotal Ps. — Ps. 3,752 Ps. — Ps. 2,107 Options contracts Foreign currency to buy 62,894 — 108,334 127,692 Foreign currency to sell — 84,087 18,718 15,738 Subtotal 62,894 84,087 127,052 143,430 Total derivative assets and liabilities trading Ps. 2,077,567 Ps. 2,154,361 Ps. 2,041,405 Ps. 1,757,606 Derivative instruments contracted by Grupo Aval or its subsidiaries are generally traded in either domestic financial markets or in over-the-counter international markets. Derivative instruments have a net favorable position (asset) or a net unfavorable position (liability) as a result of fluctuations in exchange rates, in interest rates or other variables relating to market conditions. As a result, the aggregate amount of fair values of the assets and liabilities in derivative instruments may vary significantly from time to time. |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of investment securities [abstract] | |
INVESTMENT SECURITIES | NOTE 9 – INVESTMENT SECURITIES Balances of investment securities comprise the following as of December 31, 2023 and 2022: Note December 31, 2023 December 31, 2022 Investments in debt securities mandatorily at FVTPL 9.1 Ps. 1,889 Ps. 1,378 Investments in debt securities at FVOCI 9.2 23,326,776 22,461,805 Investments in debt securities at amortized cost 9.3 9,996,561 9,771,492 Investments in equity securities at FVOCI 9.4 1,117,349 1,476,732 Ps. 34,442,575 Ps. 33,711,407 Loss impairment Investments in debt securities at amortized cost 4.1.5 Ps. (16,882) Ps. (36,930) Ps. (16,882) Ps. (36,930) Total investment securities net Ps. 34,425,693 Ps. 33,674,477 9.1 Investments in debt securities mandatorily at FVTPL The following table includes investments on asset-backed securities mandatorily at FVTPL because the contractual cash flows of these securities are not SPPI on the principal outstanding. December 31, 2023 December 31, 2022 Others 1,889 1,378 Total investments in debt securities mandatorily at FVTPL Ps. 1,889 Ps. 1,378 9.2 Investments in debt securities at FVOCI The following table includes investments in debt securities at FVOCI as of December 31, 2023 and 2022: December 31, 2023 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value ECL Securities issued or secured by Colombian Government Ps. 17,626,642 Ps. 146,608 Ps. (982,457) Ps. 16,790,793 Ps. 7,204 Securities issued or secured by other Colombian Government entities 898,373 6,213 (40,798) 863,788 1,183 Securities issued or secured by foreign Governments 2,717,651 6,385 (216,998) 2,507,038 611 Securities issued or secured by central banks 194,480 — (48,991) 145,489 56 Securities issued or secured by other financial entities 2,159,892 19,370 (36,615) 2,142,647 2,398 Securities issued or secured by non-financial sector entities 215,877 156 (1,462) 214,571 822 Others 704,393 253 (42,196) 662,450 698 Total debt securities at FVOCI Ps. 24,517,308 Ps. 178,985 Ps. (1,369,517) Ps. 23,326,776 Ps. 12,972 December 31, 2022 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value ECL Securities issued or secured by Colombian Government Ps. 17,891,099 Ps. 15,293 Ps. (2,353,520) Ps. 15,552,872 Ps. 6,845 Securities issued or secured by other Colombian Government entities 885,106 28 (95,886) 789,248 1,059 Securities issued or secured by foreign Governments 3,734,594 17,215 (355,354) 3,396,455 1,210 Securities issued or secured by central banks 242,047 — (47,949) 194,098 27 Securities issued or secured by other financial entities 1,718,512 304 (95,912) 1,622,904 2,316 Securities issued or secured by non-financial sector entities 57,252 — (3,445) 53,807 257 Others 919,107 16,817 (83,503) 852,421 972 Total debt securities at FVOCI Ps. 25,447,717 Ps. 49,657 Ps. (3,035,569) Ps. 22,461,805 Ps. 12,686 The following table shows amounts reclassified to profit or loss from OCI before taxes, related to fixed income investments debt securities measured at FVOCI: December 31, 2023 December 31, 2022 Redemptions or sales (104,012) (135,465) ECL allowance 1,236 3,678 Total reclassified to profit or loss Ps. (102,775) Ps. (131,787) 9.3 Investments in debt securities at amortized cost The following table includes investments in debt securities at amortized cost as of December 31, 2023 and 2022 Debt securities December 31, 2023 December 31, 2022 Securities issued or secured by Colombian Government Ps. 2,567,463 Ps. 2,299,618 Securities issued or secured by other Colombian Government entities 5,112,355 4,509,839 Securities issued or secured by foreign Governments 26,515 33,453 Securities issued or secured by other financial entities 2,082,993 2,618,656 Securities issued or secured by non-financial sector entities 143,410 237,537 Others 63,825 72,389 Total debt securities at amortized cost Ps. 9,996,561 Ps. 9,771,492 The following is a summary of investments in debt securities at amortized cost by maturity dates: December 31, 2023 December 31, 2022 Up to 1 month Ps. 927,454 Ps. 768,921 More than 1 month and no more than 3 months 26,515 80,379 More than 3 months and no more than 1 year 6,765,886 6,032,434 More than 1 year and no more than 5 years 151,217 187,795 More than 5 years and no more than 10 years 2,098,299 2,668,331 More than 10 years 27,190 33,632 Total Ps. 9,996,561 Ps. 9,771,492 9.3.1 Investment in debt at amortized cost securities pledged as collateral The following is a list of debt securities at amortized cost that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks (See note 33). December 31, December 31, 2023 2022 Pledged as collateral in money market operations Securities issued or secured by other Colombian Government entities Ps. 1,667,922 Ps. 118,536 Securities issued or secured by Colombian Government 489,631 — Securities issued or secured by other financial entities — 25,449 Securities issued or secured by non-financial sector entities 118,364 236,212 Ps. 2,275,917 Ps. 380,197 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 539,339 Ps. — Securities issued or secured by other Colombian Government entities 393,634 999,561 Ps. 932,973 Ps. 999,561 Ps. 3,208,890 Ps. 1,379,758 (*) 9.4 Investments in equity securities at fair value through OCI The following is the balance at December 31, 2023 and 2022. December 31, 202 3 Cost Unrealized Gain Unrealized Losses Fair Value In Colombian Pesos Corporate stock Ps. 585,352 Ps. 121,017 Ps. (33,137) Ps. 673,232 In foreign currency Corporate stock 9,227 440,562 (5,672) 444,117 Total equity securities Ps. 594,579 Ps. 561,579 Ps. (38,809) Ps. 1,117,349 December 31, 2022 ok Cost Unrealized Gain Unrealized Losses Fair Value In Colombian Pesos Corporate Stock Ps. 1,109,648 Ps. 385,712 Ps. (20,159) Ps. 1,475,201 In foreign currency Corporate Stock 697 859 (25) 1,531 Total equity securities Ps. 1,110,345 Ps. 386,571 Ps. (20,184) Ps. 1,476,732 Variations in fair values fundamentally reflect variations in the performance of companies and market conditions mainly due to changes in interest rates and other economic trends in the country where the investment is held. At December 31, 2023 and 2022 Grupo Aval considers that there is no evidence of deterioration. The details of equity instruments through OCI as of December 31, 2023 and 2022 are as follows. Entity (*) December 31, 2023 December 31, 2022 Empresa de Energía de Bogotá S.A. E.S.P. Ps. 903,068 Ps. 799,928 BAC Holding International Corp (1) — 519,964 Mineros S.A. 43,765 44,123 Port operating companies 58,355 36,010 Bolsa de Valores de Colombia S.A. (2) — 26,920 Holding Bursátil Regional S.A. (2) 45,085 — Others 67,076 49,787 Total Ps. 1,117,349 Ps. 1,476,732 (*) (1) . (2) For the years ended December 31, 2023 and 2022, dividends from these equity investments in the amount of Ps. 126,274 and Ps. 119,888 respectively, were recognized in profit or loss in the “Other Income” line (see note 30). |
HEDGE ACCOUNTING
HEDGE ACCOUNTING | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about hedges [abstract] | |
HEDGE ACCOUNTING | NOTE 10 – HEDGE ACCOUNTING In accordance with its risk management policies, Grupo Aval uses hedge accounting to manage foreign exchange risk relating to investments in foreign operations and in forecasted transactions; and manage interest risk relating to time deposits issued, as follows: 10.1 Hedges of net investment in foreign operations Banco de Bogotá, Banco de Occidente and Promigas are exposed to foreign exchange risk related to their investments in foreign subsidiaries, that have the US Dollar as functional currency. The purpose of hedge accounting is to mitigate and offset any adverse changes resulting from the fluctuation in exchange rate of the Colombian Peso and the functional currency of such investments. The impacts of those movements are reflected in the cumulative translation adjustment in other comprehensive income of the consolidated financial statements. To cover this risk, Grupo Aval hedges its exposure through foreign currency financial liabilities expressed in U.S. dollars and forward contracts for the sale of U.S. dollars. Changes in the Colombian peso against the U.S. dollar have been as follows: Date Value of US$ 1 Variation in pesos December 31, 2021 3,981.16 548.66 December 31, 2022 4,810.20 829.04 December 31, 2023 3,822.05 (988.15) According to the information described above, the following table shows movements of OCI gross of taxes, related to hedges of net investment in foreign operations: December 31, 2023 Hedging Hedging Hedged non-derivative derivative Net OCI Investment Item instrument instrument account Multi Financial Holding Ps. (393,836) Ps. 385,379 Ps. — Ps. (8,457) Other subsidiaries and branches Banco de Bogotá (137,731) 118,577 — (19,154) Occidental Bank Barbados Ltd. (30,956) 30,956 — — Banco de Occidente (Panamá) S.A. (42,091) 42,091 — — Sociedad Portuaria El Cayao S.A. E.S.P. (25,513) 25,513 — — Gases del Pacífico S.A.C. (32,050) 23,144 — (8,906) Gas Natural de Lima y Callao S.A.C. – Calidda (106,851) 106,851 — — Promigas Perú S.A.C. (4,763) 4,763 — — Gases del Norte del Perú S.A.C. (23,718) 23,718 — — Promigas Panamá Corporation (5) 5 — — Total Ps. (797,514) Ps. 760,997 Ps. — Ps. (36,517) December 31, 2022 Hedging Hedging Hedged non-derivative derivative Net OCI Investment Item instrument instrument account Multi Financial Holding and BAC Holding Ps. (6,991,093) Ps. 2,756,328 Ps. 4,048,523 Ps. (186,242) Other subsidiaries and branches Banco de Bogotá 105,255 (3,470) 2,976 104,761 Occidental Bank Barbados Ltd. 23,104 (23,104) — — Banco de Occidente (Panamá) S.A. 26,838 (26,838) — — Sociedad Portuaria El Cayao S.A. E.S.P. 21,903 (21,903) — — Gases del Pacífico S.A.C. 26,391 (18,919) — 7,472 Gas Natural de Lima y Callao S.A.C. 90,633 (90,633) — — Promigas Perú S.A.C. 3,996 (3,996) — — Gases del Norte del Perú S.A.C. 17,639 (17,639) — — Promigas Panamá Corporation 5 (5) — — Total Ps. (6,675,329) Ps. 2,549,821 Ps. 4,051,499 Ps. (74,009) According to information described above, the following table contains details of hedging operations carried out to cover foreign denominated equity investments. The analysis shows current amount of OCI gross of taxes: December 31, 2023 Thousands of US$ Ps. millions Hedge amount in Current Current foreign Hedge Current amount amount Current Hedged currency in amount in amount Hedging Hedging amount investment financial forward Hedged non-derivative derivative Net OCI Investment amount liabilities contracts Item instrument instrument account Multi Financial Holding 405,867 (390,000) — Ps. 6,974 Ps. 46,021 Ps. (435) Ps. 52,560 Other subsidiaries and branches Banco de Bogotá (1) 152,882 (120,000) — 202,519 115,107 (230,412) 87,214 Occidental Bank Barbados Ltd. 37,341 (37,341) — 43,626 (43,626) — — Banco de Occidente (Panamá) S.A. 58,877 (58,877) — 57,337 (57,337) — — Sociedad Portuaria El Cayao S.A. E.S.P. 26,365 (26,365) — 26,410 (26,410) — — Gases del Pacífico S.A.C. 31,888 (31,888) — 6,068 (21,331) — (15,263) Gas Natural de Lima y Callao S.A.C. – Calidda 114,887 (114,887) — 67,050 (67,050) — — Promigas Perú S.A.C. 4,820 (4,820) — 741 (741) — — Gases del Norte del Perú S.A.C. 24,006 (24,006) — (3,578) 3,578 — — Promigas Panamá Corporation 1 (1) — 2 (2) — — Total 856,934 (808,185) — Ps. 407,149 Ps. (51,791) Ps. (230,847) Ps. 124,511 (1) December 31, 2022 Thousands of US$ Ps. millions Hedge amount in Current Current foreign Hedge Current amount amount Current Hedged currency in amount in amount Hedging Hedging amount investment financial forward Hedged non-derivative derivative Net OCI Investment amount liabilities contracts Item instrument instrument account Multi Financial Holding 394,372 (390,000) — Ps. 400,810 Ps. (339,358) Ps. (435) Ps. 61,017 Other subsidiaries and branches Banco de Bogotá (1) 131,923 (120,000) (281) 340,250 (3,470) (230,412) 106,368 Occidental Bank Barbados Ltd. 28,755 (28,755) — 74,582 (74,582) — — Banco de Occidente (Panamá) S.A. 35,151 (35,151) — 99,428 (99,428) — — Sociedad Portuaria El Cayao S.A. E.S.P. 562,151 (562,151) — 51,923 (51,923) — — Gases del Pacífico S.A.C. 216,876 (216,876) — 38,118 (44,475) — (6,357) Gas Natural de Lima y Callao S.A.C. – Calidda 97,109 (97,109) — 173,901 (173,901) — — Promigas Perú S.A.C. 25,978 (25,978) — 5,504 (5,504) — — Gases del Norte del Perú S.A.C. 129,382 (129,382) — 20,140 (20,140) — — Promigas Panamá Corporation 16 (16) — 7 (7) — — Total 1,621,713 (1,605,418) (281) Ps. 1,204,663 Ps. (812,788) Ps. (230,847) Ps. 161,028 (1) Hedging with Debt in Foreign Currency in U.S. dollars Debt financial instruments that are not derivatives can be designated as hedging instruments for changes in foreign currency exchange rates. According to this rule, Banco de Bogotá, Banco de Occidente and Promigas designed debt denominated in U.S. dollar as hedging instruments of their foreign subsidiaries as follows: (1) Bonds issued by Banco de Bogotá in the international market were designated as hedging instruments of its investment in MFH and other subsidiaries and branches amounting U.S. 510 million in 2023 and U.S. 510 dollar million in 2022. (2) Other financial liabilities in the amount of U.S. 298 million as of December 31, 2023 (U.S. dollar 1,095 million as of December 31, 2022) were used to hedge part of the net foreign investment that Banco de Occidente and Promigas have in foreign subsidiaries as part of a hedging strategy, by which new obligations are continuously designated as hedging instruments to replace the previous ones as they expire over time. 10.2 Hedging Cash Flow The movement of the accumulated OCI account related to cash flow hedges in Colombian pesos during the years ended on December 31, 2023, 2022 and 2021 is as follows: December 31, 2023 December 31, 2022 December 31, 2021 Balance at the beginning of the year Ps. 5,542 Ps. 7,938 Ps. (42) Changes in the fair value FwD - Future transactions (26,203) 6,995 (8,879) Changes in the fair value FwD - financial obligations (32,672) — — Changes in the fair value bonds 270,064 — — Changes in the fair value other accounts receivable (258,982) — — Reclassified to profit or loss 11,870 (9,391) 16,859 Balance at the end of the year Ps. (30,381) Ps. 5,542 Ps. 7,938 During the years ended December 31, 2023, 2022 and 2021, an exchange difference recognized under “Other Comprehensive Income” as a result of cash flow hedge accounting of income (loss) from these highly probable transactions, was reclassified to profit or loss in the amounts of Ps. 11,870, Ps. (9,391) and Ps. 16,859 respectively. Hedging of Future Transactions In the ordinary course of its operations Promigas S.A. and its subsidiaries receive income in U.S. Dollars derived from the transportation of gas. Promigas and its subsidiaries hedge the exchange risk arising in future transactions of highly probable gas transportation income, entering into forward contracts for the sale of U.S. dollars with financial entities different from the ones consolidated into Grupo Aval. The following is the summary of Promigas and its subsidiaries open cash flow hedges: December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 643,670 127,695 Notional amount contracts FWDThousands of U.S. dollar 420,670 126,921 % hedged 86 % 88 % Fair value in Colombian pesos (59,715) 61,142 # of contracts 46 161 Hedging of exchange rate risk During the year ended December 31, 2023, Banco de Bogotá hedge the exchange risk arising in other accounts receivable: December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 309,788 — Notional amount bond Thousands of U.S. dollar 309,788 — % hedged 100 % — % Fair value in Colombian pesos 1,184,025 — # of contracts 1 — During the year ended December 31, 2023, Corficolombiana hedge the exchange risk arising in other accounts receivable: December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 7,610 — Notional amount contracts FWD Thousands of U.S. dollar 7,610 — % hedged 100 % — % # of contracts 17 — During the year ended December 31, 2023, Banco de Bogotá hedge the exchange risk arising in financial obligations: December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 1,097,038 — Notional amount contracts FWD Thousands of U.S. dollar 1,098,950 — % hedged 100 % — % Fair value in Colombian pesos 4,152,626 — # of contracts 74 — 10.3 Fair value hedges of interest rate risk As of December 31, 2023 and 2022, Banco de Bogotá uses interest rate swaps to reduce the risk of interest rates on financial liabilities. December 31, 2023 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 6,539,684 Ps. 47,975 Ps. 10,871 Items designated hedged Time Deposits issued 6,539,684 — 40,289 December 31, 2022 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 235,000 Ps. 1,228 Ps. — Items designated hedged Time Deposits issued 235,000 — 1,242 As of December 31, 2023, Banco de Occidente uses interest rate swaps to reduce the risk of interest rates on financial liabilities. December 31, 2023 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 435,000 Ps. 850 Ps. — Items designated hedged Time Deposits issued 435,000 — 734 As of December 31, 2022, the Multi Financial Holding uses interest rate swaps to reduce the risk of interest rates on financial assets and financial liabilities. Said contracts are recorded at fair value in the consolidated statement of financial position, under the line of derivatives for hedging assets or liabilities, as appropriate. As of December 31, 2023, this hedge is no longer applied. December 31, 2022 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 98,609 Ps. 107 Ps. 786 Items designated hedged Securities issued or secured by Government and Corporate issuers 98,609 969 — Changes in fair value and interest expense during the years ended on December 31, 2023 and 2022 is as follows: December 31, 2023 Change in fair Interest value expense (1) Banco de Bogotá Ps. 79,864 Ps. (61,905) Banco de Occidente 116 (1,428) Total Ps. 79,980 Ps. (63,333) (1) December 31, 2022 Change in fair Interest value expense (1) Banco de Bogotá Ps. (14) Ps. (1,242) Multi Financial Holding 168 — Total Ps. 154 Ps. (1,242) (1) 10.4 Testing of Hedge Effectiveness Grupo Aval’s subsidiaries consider hedging as highly effective if at the beginning and in subsequent periods, the hedging instrument highly offsets changes in fair value or in cash flows attributable to the risk hedged during the period for which the hedging has been designated. The hedging is considered as such if the effectiveness of the hedging is in a range between 80% and 125%. Such effectiveness is assessed by Grupo Aval’s entities at least quarterly and at the end of each accounting period. During year 2023, 2022 and 2021 each hedging relationship has been effective. Grupo Aval’s subsidiaries have documented the hedging effectiveness of its foreign currency denominated investments based on the portion of the net investment hedged at the beginning of the hedging relationship. Since the net balance of these investments fluctuates during the year, Grupo Aval’s subsidiaries evaluate the hedging relationship on a daily basis as well as the result of the testing of hedge effectiveness. Hedge Effectiveness with Forward Contracts Grupo Aval’s subsidiaries applies the method of the forward rate used in forward contracts to evaluate the hedge effectiveness; for such purpose, Grupo Aval measures the hedge ineffectiveness comparing the value of current forward contracts, which serve as hedge, with the change in the value of a hypothetical derivative with the same maturity. Hedge Effectiveness with Debt Instruments in Foreign Currency For debt instruments in foreign currency designated as a hedging instrument, the gain or loss arising from the conversion of the debt to Colombian Pesos is based on the current exchange rate between the U.S. dollar and the Colombian Peso, which is the functional currency of Grupo Aval. If the notional amount of the hedging instrument exactly matches with the portion of the hedged investment in foreign operations, no ineffectiveness is registered in the statement of income. 10.5 Derivative Financial Instruments for hedging purposes comprise the following: According to information described above, the following table contains the fair value of derivative financial instruments used for hedging: December 31, 2023 December 31, 2022 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 687 Ps. 204,202 Ps. 4,630 Ps. 1,416 Foreign currency to sale — — 200 137 Subtotal Ps. 687 Ps. 204,202 Ps. 4,830 Ps. 1,553 Swap Cross currency — — — — Interest rate 47,975 13,364 16,024 2,015 Subtotal Ps. 47,975 Ps. 13,364 Ps. 16,024 Ps. 2,015 Total hedge derivatives Ps. 48,662 Ps. 217,566 Ps. 20,854 Ps. 3,568 |
LOANS
LOANS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of loans and receivables [abstract] | |
LOANS | NOTE 11 – LOANS 11.1 Loan Portfolio by Product The distribution of the loan portfolio of Grupo Aval by product is shown as follows: December 31, 2023 December 31, 2022 General purpose loans Ps. 73,738,900 Ps. 74,621,729 Payroll loans 32,619,563 33,306,684 Working capital loans 16,413,196 14,631,609 Mortgages 16,294,206 15,488,044 Personal loans 14,232,850 13,425,625 Credit Cards 7,937,759 7,341,533 Automobile and vehicle loans 5,332,355 5,421,073 Loans funded by development banks 4,464,785 4,053,300 Commercial financial leases 11,706,825 10,861,995 Housing leases 2,192,000 2,395,311 Consumer financial leases 15,509 18,491 Overdrafts 585,686 512,504 Interbank & overnight funds 392,607 5,967,743 Microcredit 277,529 267,720 Gross balance of loan portfolio Ps. 186,203,770 Ps. 188,313,361 Loss allowance loan portfolio (1) (10,035,715) (9,197,514) Net balance of loan portfolio Ps. 176,168,055 Ps. 179,115,847 (1) 11.2 Loan portfolio by maturity The distribution of Grupo Aval´s loan portfolio by contractual maturity period is as follows: December 31, 2023 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial – Client portfolio Ps. 57,018,945 Ps. 27,895,921 Ps. 12,044,149 Ps. 10,088,802 Ps. 107,047,817 Consumer 10,679,728 13,325,877 11,496,786 24,497,220 59,999,611 Mortgage 865,216 1,187,222 1,317,412 15,116,356 18,486,206 Microcredit 162,667 108,095 5,266 1,501 277,529 Interbank and overnight funds 392,607 — — — 392,607 Total gross loan portfolio Ps. 69,119,163 Ps. 42,517,115 Ps. 24,863,613 Ps. 49,703,879 Ps. 186,203,770 December 31, 2022 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial – Client portfolio Ps. 52,035,331 Ps. 29,192,573 Ps. 13,784,223 Ps. 9,762,972 Ps. 104,775,099 Consumer 9,387,125 12,229,155 10,996,682 26,806,482 59,419,444 Mortgage 752,955 1,078,137 1,190,998 14,861,265 17,883,355 Microcredit 155,351 105,603 5,692 1,074 267,720 Interbank and overnight funds 5,967,743 — — — 5,967,743 Total gross loan portfolio Ps. 68,298,505 Ps. 42,605,468 Ps. 25,977,595 Ps. 51,431,793 Ps. 188,313,361 11.3 Interest income by portfolio The interest income of the loan portfolio of Grupo Aval by portfolio is shown as follows: December 31, 2023 December 31, 2022 December 31, 2021 (1) Commercial – Client portfolio Ps. 14,497,926 Ps. 8,608,592 Ps. 4,698,563 Consumer 9,208,508 7,048,747 5,890,691 Mortgage 1,687,962 1,349,898 1,080,022 Microcredit 71,352 64,582 77,880 Repos, interbank loans portfolio 1,068,367 487,697 134,988 Total interest income Ps. 26,534,115 Ps. 17,559,516 Ps. 11,882,144 (1) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. 11.4 Financial Leasing portfolio As of December 31, 2023, and 2022 the following table shows the reconciliation between gross investment in financial leasing and the present value of minimum payments to be received in these dates: December 31, 2023 December 31, 2022 Total gross rent payments receivable Ps. 29,491,587 Ps. 21,766,425 Less (495) (544) Plus, 32,657 36,559 Gross investment in contracts of financial leasing 29,523,749 21,802,440 Less (15,609,415) (8,526,643) Net investment in contracts of financial leasing Ps. 13,914,334 Ps. 13,275,797 Loss allowance of net investment in financial leasing Ps. (460,528) Ps. (678,367) The detailed information of gross investment and net investment in financial leasing contracts receivable as of December 31, 2023 and 2022 in each period is as follows: December 31, 2023 Gross investment Net investment Up to 1 year Ps. 13,480,780 Ps. 6,398,382 From 1 to 5 years 6,560,824 2,532,708 More than 5 years 9,482,145 4,983,244 Total Ps. 29,523,749 Ps. 13,914,334 December 31, 2022 Gross investment Net investment Up to 1 year Ps. 4,378,980 Ps. 1,962,546 From 1 to 5 years 8,502,594 5,585,560 More than 5 years 8,920,866 5,727,691 Total Ps. 21,802,440 Ps. 13,275,797 The banks of Grupo Aval grant loans through financial leasing mainly for acquisition of vehicles and computer equipment, generally with terms between 36 and 60 months, with a purchase option at the end of the contract, for acquisition machinery and equipment with terms between 60 to 120 months, with a purchase option, and for housing leasing with terms between 120 to 240 months, transferring the asset at the end of the contract. These leasing contracts are granted at current market interest rates at inception. |
OTHER ACCOUNTS RECEIVABLE, NET
OTHER ACCOUNTS RECEIVABLE, NET | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other accounts receivables [abstract] | |
OTHER ACCOUNTS RECEIVABLE, NET | NOTE 12 – OTHER ACCOUNTS RECEIVABLE, NET Balances of other accounts receivable, net of impairment losses, comprise the following as of December 31, 2023 and 2022: December 31, December 31, Note 2023 2022 Contract assets 12.1 Ps. 17,821,214 Ps. 16,161,187 Other accounts receivable 12.2 8,181,675 7,601,802 Total other accounts receivable 26,002,889 23,762,989 Loss allowance 4.1.5 (385,664) (382,416) Total other accounts receivable, net Ps. 25,617,225 Ps. 23,380,573 12.1 Financial assets in concession arrangements The following table provides information about assets from contracts with customers as of December 31, 2023 and 2022: Contract assets December 31, 2023 December 31, 2022 Financial assets in concession arrangements rights at fair value (1) Ps. 3,830,916 Ps. 3,507,231 Financial assets in concession arrangements rights at amortized cost (1) 13,990,298 12,653,956 Gross balance of other accounts receivable Ps. 17,821,214 Ps. 16,161,187 Loss allowance (2) (8,394) (8,171) Total contract assets Ps. 17,812,820 Ps. 16,153,016 (1) See note 16 details regarding concession arrangements rights. (2) See reconciliations simplified approach and general approach loss allowance on note 4.1.5 . 12.2 Other accounts receivable The detailed information of other accounts receivable measured at amortized cost, except for prepaid expenses, as of December 31, 2023 and 2022 is as follows: Other accounts receivable December 31, 2023 December 31, 2022 Accounts receivable for goods and services sales in Non-financial sector companies Ps. 1,469,899 Ps. 1,455,555 Debtors 1,889,732 2,061,364 Credit card compensations and network compensations 1,348,140 658,721 Payment in advance 760,877 633,358 Government 579,701 577,117 Conditional contributions 712,135 694,018 Taxes 35,667 30,862 Others 1,385,524 1,490,807 Gross balance of other accounts receivable Ps. 8,181,675 Ps. 7,601,802 Loss allowance (377,270) (374,245) Other accounts receivable, net Ps. 7,804,405 Ps. 7,227,557 |
NON-CURRENT ASSETS HELD FOR SAL
NON-CURRENT ASSETS HELD FOR SALE | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of noncurrent assets held-for-sale [abstract] | |
NON-CURRENT ASSETS HELD FOR SALE | NOTE 13 – NON-CURRENT ASSETS HELD FOR SALE The movement of the non-current assets held for sale during the years ended December 31, 2023, 2022 and 2021 is as follows: December 31, 2023 December 31, 2022 December 31, 2021 Balance at the beginning of the year Ps. 92,830 Ps. 208,426 Ps. 240,412 Additions 72,466 74,812 137,710 Assets sold, net (1) (118,808) (51,863) (60,747) Increase / decrease by changes in fair value (268) (76) (3,780) Reclassifications (2) 62,058 (88,609) (135,643) Effect of movements in exchange rates (7,094) 13,960 (8,310) Loss of control in subsidiary (3) — (72,014) — Discontinued operations (3)(4) — 8,194 (94) Balance at year end Ps. 101,184 Ps. 92,830 Ps. 208,426 (1) From the leaseback operation with the NEXUS Real Estate Capital Funds includes withdrawals for December 31, 2023 by Ps. (79,546) , for December 31, 2022 by Ps. (15,179) and for December 31, 2021 by Ps. (32,365) . (2) Includes for December 31, 2023 reclassifications to i) to investment properties by Ps. (95,593) ii) from other assets by Ps. 25,654 and iii) from Properties, plant and equipment for Ps. 131,997 for December 31, 2022 reclassifications to i) to investment properties by Ps. (31,184) ii) to other assets by Ps. (62,943 ) and iii) from Properties, plant and equipment for Ps. 5,536 and for December 31, 2021 reclassifications to: i) to investment properties by Ps. (22,847) , ii) to other assets by Ps. (111,442) ; iii) from Properties, plant and equipment for own use Ps. 1,074 ; iv) to concession arrangements by Ps. (2,516) and v) from Right-of-use assets by Ps. 102 . (3) See note 1.1 “Discontinued operations of BAC Holding” (4) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022 The following is the detail of the non-current assets held for sale: December 31, 2023 December 31, 2022 Foreclosed assets Movable property Ps. 3,421 Ps. 2,245 Residential real estate 15,070 23,802 Other real estate 35,024 36,929 Ps. 53,515 Ps. 62,976 Assets received from leasing agreements Vehicles 559 134 Real estate 10,373 4,891 Ps. 10,932 Ps. 5,025 Other non-current assets held for sale Land Ps. 15,534 Ps. 3,023 Real estate 20,925 19,911 Other 278 1,895 Ps. 36,737 Ps. 24,829 Total non-current assets held for sale Ps. 101,184 Ps. 92,830 Following is the detail of the associated liabilities to assets held for sale: December 31, 2023 December 31, 2022 Other accounts payable Ps. 4,338 Ps. 12,646 Provisions 532 — Total Ps. 4,870 Ps. 12,646 Non-current assets held for sale are primarily assets received through foreclosure of assets pledged as loan collateral. Accordingly, the banks of Grupo Aval has the intention to sell them immediately, our subsidiaries have departments, processes and special sales programs for this purpose. Foreclosed assets are either sold for cash or financing for their sale is provided to potential buyers under normal market conditions. These are expected to be sold within a period of 12 months subsequent to their classification as assets held for sale. There are option contracts in place for some of these assets. Note (4.1.8) on credit risk contains information on assets received through foreclosure and sold during the period. |
INVESTMENTS IN ASSOCIATES AND J
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of investments in associates and joint ventures [Abstract] | |
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES | NOTE 14 – INVESTMENTS IN ASSOCIATES AND JOINT VENTURES The detail of the investments in associates and joint ventures for the years ended December 31, 2023, and 2022 is as follows: December 31, 2023 December 31, 2022 Associates Ps. 1,288,641 Ps. 1,419,296 Joint ventures 2,042 4,047 Total Ps. 1,290,683 Ps. 1,423,343 The following table shows the balances of each investment in associates and joint ventures as of December 31, 2023 and 2022, and Grupo Aval’s ownership interest percentage in those entities: December 31, 2023 December 31, 2022 Ownership Book Ownership Book interest value interest value Associates Gas Natural de Lima y Callao S.A. - Cálidda 40 % Ps. 614,577 40 % Ps. 768,953 Gases del Caribe S.A. E.S.P. 31 % 328,661 31 % 313,968 Credibanco S.A. 25 % 210,399 25 % 205,604 Redeban Multicolor S.A. 20 % 41,562 20 % 33,183 A.C.H Colombia S.A. 34 % 32,580 34 % 32,134 Aerocali S.A. 50 % 24,389 50 % 30,499 Colombiana de Extrusión S.A. - Extrucol 30 % 14,507 30 % 12,321 ADL Digital Lab S.A.S. 34 % 12,231 34 % 8,439 Servicios de Identidad Digital S.A.S. 33 % 4,039 33 % 7,050 Energía Eficiente S.A. 33 % 3,485 33 % 4,136 Metrex S.A. 18 % 2,211 18 % 2,596 Concentra Inteligencia en Energía S.A.S. (1) — % — 24 % 413 Ps. 1,288,641 Ps. 1,419,296 . (1) The investment in associated was liquidated on November 29th, 2023. December 31, 2023 December 31, 2022 Ownership Book Ownership Book Book interest value interest value value Joint ventures Renting Automayor S.A.S. (1) 50 % Ps. 2,042 50 % Ps. 4,047 (1) Joint businesses executed by Grupo Aval’s subsidiaries with specific purposes wherein the joint business assumes no responsibilities for business results, not requiring significant equity resources from Grupo Aval. All of our associates and joint ventures are domiciled in Colombia, with the exception of Gas Natural de Lima y Callao S.A. – Cálidda which resides in Perú. The main corporate purpose of Grupo Aval´s associates is described as follows: Associate Corporate purpose 1 Gas Natural de Lima y Callao S.A. - Cálidda Gas distribution 2 Gases del Caribe S.A. E.S.P. Gas distribution 3 Credibanco S.A. Payment processing 4 Redeban Multicolor S.A. Payment processing 5 A.C.H Colombia S.A. Automated clearing house 6 Aerocali S.A. Projects in airport infrastructure 7 Colombiana de Extrusión S.A. - Extrucol Networks and infrastructure 8 ADL Digital Lab S.A.S. Tecnology or digital services 9 Servicios de Identidad Digital S.A.S. Digital services 10 Energía Eficiente S.A. Gas distribution 11 Metrex S.A. Manufacturing and commercialization of industrial equipment 12 Concentra Inteligencia en Energía S.A.S. Gas distribution As of December 31, 2023, and 2022, Grupo Aval did not have contingent assets as income receivable that arose from any contractual difference with any concession, other than a tariff recognition. There were also no contingent liabilities for fines or sanctions imposed by the Government in the development of concession contracts for possible contractual breaches. A roll-forward of investments in associates and joint ventures accounts is shown below for the years ended December 31, 2023, 2022 and 2021: Associates December 31, December 31, December 31, 2023 2022 2021 Balance at the beginning of the year Ps. 1,419,296 Ps. 1,170,435 Ps. 1,029,243 Acquisitions 2,433 7,267 4,539 Participation in the profit or loss of the period 373,402 371,127 298,705 Participation in Other Comprehensive Income (35,892) 81,730 (846) Dividends declared (363,466) (301,895) (225,844) Liquidated entity (282) — — Exchange difference (106,850) 90,632 63,654 Realization of Other Comprehensive Income — — 1,059 Dilution effect — — (75) Year-end balance Ps. 1,288,641 Ps. 1,419,296 Ps. 1,170,435 Joint ventures December 31, December 31, December 31, 2023 2022 2021 Balance at the beginning of the year Ps. 4,047 Ps. 2,394 Ps. 79 Participation in the period profit or loss (2,005) 1,650 1,512 Dividends received — — (70) Acquisitions — 3 — Exchange difference — — 873 Year-end balance Ps. 2,042 Ps. 4,047 Ps. 2,394 The condensed financial information of the associates and joint ventures accounted for under the equity method is as follows: Associates At the time calculating the equity method, the year-end financial information of associates was not available. Therefore, the financial information of the immediately preceding month for the years 2023 and 2022 was used, this information corresponds to 100% after homogenizations. December 31, 2023 Assets Liabilities Equity Income Expenses Net income LTM Gas Natural de Lima y Callao S.A. - Cálidda Ps. 6,116,364 Ps. 4,521,154 Ps. 1,595,210 Ps. 3,832,676 Ps. 3,378,051 Ps. 454,625 Gases del Caribe S.A. E.S.P. 4,066,193 2,974,633 1,091,560 3,104,261 2,730,690 373,571 Redeban Multicolor S.A. 2,101,985 1,918,782 183,203 443,196 423,438 19,758 Credibanco S.A. 431,534 180,505 251,029 329,109 293,021 36,088 A.C.H Colombia S.A. 342,153 232,328 109,825 292,592 184,168 108,424 Energía Eficiente S.A. 124,797 100,424 24,373 328,840 325,794 3,046 Colombiana de Extrusión S.A. - Extrucol 112,151 63,795 48,356 183,121 167,562 15,559 Aerocali S.A. 92,950 44,172 48,778 254,751 209,945 44,806 ADL Digital Lab S.A.S. 71,577 35,602 35,975 74,645 63,492 11,153 Servicios de Identidad Digital S.A.S. 50,428 22,812 27,616 857 19,694 (18,837) Metrex S.A. 41,458 29,170 12,288 80,944 78,229 2,715 Ps. 13,551,590 Ps. 10,123,377 Ps. 3,428,213 Ps. 8,924,992 Ps. 7,874,084 Ps. 1,050,908 December 31, 2022 Assets Liabilities Equity Income Expenses Net income LTM Gas Natural de Lima y Callao S.A. - Cálidda Ps. 6,733,310 Ps. 4,832,852 Ps. 1,900,458 Ps. 3,459,381 Ps. 3,016,832 Ps. 442,549 Gases del Caribe S.A. E.S.P. 3,608,541 2,547,812 1,060,729 3,049,998 2,678,762 371,236 Credibanco S.A. 416,819 189,622 227,197 283,294 258,230 25,064 Redeban Multicolor S.A. 981,505 817,262 164,243 363,785 331,105 32,680 A.C.H Colombia S.A. 215,653 120,605 95,048 245,030 148,782 96,248 Aerocali S.A. 106,967 45,969 60,998 247,929 188,515 59,414 Colombiana de Extrusión S.A. - Extrucol 100,728 59,658 41,070 160,587 151,815 8,772 ADL Digital Lab S.A.S. 63,442 38,620 24,822 57,360 44,344 13,016 Servicios de Identidad Digital S.A.S. 25,995 4,846 21,149 754 22,101 (21,347) Energía Eficiente S.A. 106,493 80,168 26,325 271,988 267,999 3,989 Metrex S.A. 54,170 39,743 14,427 79,880 74,959 4,921 Concentra Inteligencia en Energía S.A.S. 1,987 253 1,734 1,138 1,912 (774) Ps. 12,415,610 Ps. 8,777,410 Ps. 3,638,200 Ps. 8,221,124 Ps. 7,185,356 Ps. 1,035,768 Joint Ventures At the time calculating the equity method, the year-end financial information of joint ventures was not available. Therefore, the information of the immediately preceding month for the years 2023 and 2022 was used, is presented below. December 31, 2023 Assets Liabilities Equity Income Expenses Net income LTM Renting Automayor S.A. Ps. 120,113 Ps. 115,786 Ps. 4,327 Ps. 34,762 Ps. 38,774 Ps. (4,012) Ps. 120,113 Ps. 115,786 Ps. 4,327 Ps. 34,762 Ps. 38,774 Ps (4,012) December 31, 2022 Assets Liabilities Equity Income Expenses Net income LTM Renting Automayor S.A. Ps. 104,729 Ps. 96,345 Ps. 8,384 Ps. 8,473 Ps. 5,168 Ps. 3,305 Ps. 104,729 Ps. 96,345 Ps. 8,384 Ps. 8,473 Ps. 5,168 Ps 3,305 |
TANGIBLE ASSETS
TANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
TANGIBLE ASSETS | NOTE 15 – TANGIBLE ASSETS The movement of the carrying value amounts of tangible assets for the years ended on December 31, 2023, 2022 and 2021 is as follows: Given in Right-of-use Investment operating Biological For own use (1) assets properties (2) leases assets Total Cost Balance as of January 1, 2021 Ps. 9,718,210 Ps. 2,721,904 Ps. 808,556 Ps. 16,105 Ps. 122,675 Ps. 13,387,450 Increase / (decrease) due to changes in the lease variables — 45,650 — — — 45,650 Purchases or capitalized expenses (3) 368,570 173,793 77,157 34,306 27,213 681,039 Withdrawals / Sales (224,241) (175,139) (93,845) — (23,448) (516,673) Changes in fair value — — 22,775 — 28,546 51,321 Revaluation of investment properties — — 7,991 — — 7,991 Transfers to/from non-current assets held for sale (1,861) — 22,847 — — 20,986 Reclassification BAC (4)(5) 503,724 44,454 — — — 548,178 Discontinued operations (4) (16,779) — — — — (16,779) Effect of movements in exchange rates 74,598 17,978 2,964 — — 95,540 Reclassifications (36,864) 11,162 4,490 (2,208) — (23,420) Given in Right-of-use Investment operating Biological For own use (1) assets properties (2) leases assets Total Balance as of December 31, 2021 Ps. 10,385,357 Ps. 2,839,802 Ps. 852,935 Ps. 48,203 Ps. 154,986 Ps. 14,281,283 Increase / (decrease) due to changes in the lease variables — 89,087 — — — 89,087 Purchases or capitalized expenses (3) 477,795 205,587 70,081 58,884 28,368 840,715 Withdrawals / Sales (6) (413,817) (152,284) (127,753) — (27,583) (721,437) Changes in fair value — — 55,930 — 56,859 112,789 Revaluation of investment properties — — 797 — — 797 Transfers to/from non-current assets held for sale (9,174) — 31,184 — — 22,010 Loss of control in subsidiary (4) (3,071,270) (928,279) — — — (3,999,549) Discontinued operations (4) (26,314) — — — — (26,314) Effect of movements in exchange rates 118,393 38,353 2,282 — — 159,028 Reclassifications (4,467) 3,573 (4,493) (6,287) — (11,674) Balance as of December 31, 2022 Ps. 7,456,503 Ps. 2,095,839 Ps. 880,963 Ps. 100,800 Ps. 212,630 Ps. 10,746,735 Increase / (decrease) due to changes in the lease variables — 636,227 — — — 636,227 Purchases or capitalized expenses (3) 561,009 236,652 56,307 30,587 26,118 910,673 Withdrawals / Sales (6) (544,864) (174,060) (200,670) (16) (26,677) (946,287) Changes in fair value — — 84,958 — 18,601 103,559 Revaluation of investment properties — — 557 — — 557 Transfers to/from non-current assets held for sale (189,295) — 95,593 — — (93,702) Loss of control in subsidiary (565) — — — — (565) Effect of movements in exchange rates (151,520) (39,001) (7,079) — — (197,600) Reclassifications (17,712) (504,889) (4,160) (2,290) — (529,051) Balance as of December 31, 2023 Ps. 7,113,556 Ps. 2,250,768 Ps. 906,469 Ps. 129,081 Ps. 230,672 Ps. 10,630,546 Given in Right-of-use Investment operating Biological Accumulated Depreciation: For own use (1) assets properties (2) leases assets Total Balance January 1, 2021 Ps. (3,715,017) Ps. (686,385) Ps. — Ps. (7,110) Ps. — (4,408,512) Depreciation of the year charged against profit or loss (321,527) (225,195) — (5,077) — (551,799) Withdrawals / Sales 117,844 107,225 — — — 225,069 Transfers to/from non-current assets held for sale 733 — — — — 733 Reclassification BAC (4)(5) (91,640) (4,635) — — — (96,275) Discontinued operations (4) (203,847) (116,023) — — — (319,870) Effect of movements in exchange rates (10,488) (1,120) — — — (11,608) Reclassification (1,667) (13,273) — 2,208 — (12,732) Balance December 31, 2021 Ps. (4,225,609) Ps. (939,406) Ps. — Ps. (9,979) Ps. — (5,174,994) Depreciation of the year charged against profit or loss (308,642) (236,587) — (14,646) — (559,875) Withdrawals / Sales (6) 183,180 84,643 — — — 267,823 Transfers to/from non-current assets held for sale 3,638 — — — — 3,638 Loss of control in subsidiary (4) 1,679,433 370,917 — — — 2,050,350 Discontinued operations (4) (29,380) (29,625) — — — (59,005) Effect of movements in exchange rates (18,418) (10,274) — — — (28,692) Reclassification (5,091) (5,913) — 6,212 — (4,792) Balance December 31, 2022 Ps. (2,720,889) Ps. (766,245) Ps. — Ps. (18,413) Ps. — (3,505,547) Depreciation of the year charged against profit or loss (289,999) (248,488) — (18,575) — (557,062) Withdrawals / Sales (6) 246,794 90,904 — 16 — 337,714 Transfers to/from non-current assets held for sale 57,298 — — — — 57,298 Loss of control in subsidiary 476 — — — — 476 Effect of movements in exchange rates 29,602 11,611 — — — 41,213 Reclassification (3,694) (1,593) — 2,290 — (2,997) Balance December 31, 2023 Ps. (2,680,412) Ps. (913,811) Ps. — Ps. (34,682) Ps. — Ps. (3,628,905) Given in Right-of-use Investment operating Biological Impairment losses: For own use (1) assets properties (2) leases assets Total Balance as of January 1, 2021 Ps. (4,902) Ps. — Ps. — Ps. (84) Ps. — Ps. (4,986) Year impairment charge (674) — — (72) — (746) Transfers to/from non-current assets held for sale 54 — — — — 54 Reclassification (58) — — — — (58) Balance as of December 31, 2021 Ps. (5,580) Ps. — Ps. — Ps. (156) Ps. — Ps. (5,736) Year impairment charge (997) — — (219) — (1,216) Withdrawals 1,205 — — — — 1,205 Balance as of December 31, 2022 Ps. (5,372) Ps. — Ps. — Ps. (375) Ps. — Ps. (5,747) Year impairment charge 31 — — (35) — (4) Balance as of December 31, 2023 Ps. (5,341) Ps. — Ps. — Ps. (410) Ps. — Ps. (5,751) Given in Right-of-use Investment operating Biological Tangible assets, net: For own use (1) assets properties (2) leases assets Total Balance as of December 31, 2021 Ps. 6,154,168 Ps. 1,900,396 Ps. 852,935 Ps. 38,068 Ps. 154,986 Ps. 9,100,553 Balance as of December 31, 2022 Ps. 4,730,242 Ps. 1,329,594 Ps. 880,963 Ps. 82,012 Ps. 212,630 Ps. 7,235,441 Balance as of December 31, 2023 Ps. 4,427,803 Ps. 1,336,957 Ps. 906,469 Ps. 93,989 Ps. 230,672 Ps. 6,995,890 (1) Only assets for own use different than assets given in operating lease are included. See note 15.4. (2) Cost is included at fair value. The total of purchases of investment properties, includes assets received in total or partial settlement of the payment obligations of debtors, at December 31, 2023 Ps. 56,144 ; Ps. 64,429 at December 31, 2022 and Ps. 75,788 at December 31, 2021. Includes at December 31, 2022 Ps. 5,652 by the recognition a new investment property in Corficolombiana and Ps. 493 at December 31, 2021 in Banco de Occidente. (3) The amount of purchases for own use assets include: (i) Capitalized expenses at December 31, 2023 for Ps. 802 , at December 31, 2022 for Ps. 2,113 and at December 31, 2021 for Ps. 6,152 ; (ii) Dismantling cost at December 31, 2023 for Ps. 1,723 , at December 31, 2022 for Ps. 666 , and at December 2021 for Ps. 1,189 ; and (iii) at December 31, 2022 an amount transferred from concessions arrangements as a result of the change in the conditions of the contracts by the grantor for Ps. 14,532 . (4) For 2021 and 2022, see note 1.1. "Discontinued operations of BAC Holding" for Ps. (1,899,743) , allocated as follows: Property, plant and equipment for Ps. (1,361,821) and assets for rights of use for Ps. (537,922) . (5) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. (6) Withdrawals or sales includes the de-recognition of the assets transferred to NEXUS Real Estate Capital Funds. For December 31, 2023 for own use assets the net values of the most significant disposals are: Banco de Bogotá by Ps. ( 25,400 ), Banco Popular by Ps. ( 114,771 ) and Banco Av Villas by Ps. ( 33,053 ); and for investments properties the net values of withdrawals correspond to: at December 31, 2023 Banco de Bogotá Ps. ( 41,412 ), Banco Popular Ps. ( 21,459 ) and Banco de Occidente Ps. ( 6,704 ). For December 31, 2022 for own use assets are: Banco de Bogotá by Ps. ( 68,530 ), Banco Av Villas by Ps. ( 36,319 ) and Banco Popular by Ps. ( 11,303 ) and for investments properties the net values of withdrawals correspond to: Banco de Bogotá Ps. ( 10,500 ), Banco Av. Villas Ps. ( 11,510 ) and Banco Popular Ps. ( 6,398 ). 15.1. Tangible assets for own use The following tables shows the balance as of December 31, 2023 and 2022, by type of asset: Accumulated Impairment Carrying December 31, 2023 Cost depreciation loss amount Land Ps. 766,013 Ps. — Ps. (1,865) Ps. 764,148 Buildings 1,703,700 (411,582) (3,151) 1,288,967 Office equipment and accessories 628,991 (480,429) (49) 148,513 Information technology equipment 1,465,341 (1,021,448) (58) 443,835 Vehicles 100,840 (80,863) — 19,977 Equipment and machinery 1,786,790 (526,930) (218) 1,259,642 Warehouses 17,769 (6,700) — 11,069 Improvements in leaseholds properties 202,886 (113,614) — 89,272 Construction in progress 149,480 — — 149,480 Bearer plants 291,746 (38,846) — 252,900 Balance as of December 31, 2023 Ps. 7,113,556 Ps. (2,680,412) Ps. (5,341) Ps. 4,427,803 Accumulated Impairment Carrying December 31, 2022 Cost depreciation loss amount Land Ps. 884,828 Ps. — Ps. (1,786) Ps. 883,042 Buildings 2,035,987 (468,445) (3,142) 1,564,400 Office equipment and accessories 632,318 (477,584) (29) 154,705 Information technology equipment 1,425,844 (1,033,280) (198) 392,366 Vehicles 99,156 (80,156) — 19,000 Equipment and machinery 1,690,012 (487,558) (217) 1,202,237 Silos 8,613 (6,827) — 1,786 Warehouses 64,091 (36,764) — 27,327 Improvements in leaseholds properties 198,725 (100,047) — 98,678 Construction in progress 143,250 — — 143,250 Bearer plants 273,679 (30,228) — 243,451 Balance as of December 31, 2022 Ps. 7,456,503 Ps. (2,720,889) Ps. (5,372) Ps. 4,730,242 The cost of the tangible assets for own use includes borrowing costs capitalized for Ps. 9,769, at December 31, 2023 and for Ps. 1,921, at December 31, 2022 with a capitalized interest rate (weighted average) of 11.82% and 10.10% respectively. 15.2 Right-of-use assets: The following tables shows the balance at December 31, 2023 and 2022, by type of asset: Accumulated Carrying December 31, 2023 Cost depreciation amount Land Ps. 41,973 Ps. (8,473) Ps. 33,500 Buildings 1,627,781 (600,942) 1,026,839 Office equipment and accessories 5,322 (2,400) 2,922 Information technology equipment 126,714 (81,493) 45,221 Vehicles 66,123 (35,235) 30,888 Equipment and machinery 223,434 (102,795) 120,639 Warehouses 159,421 (82,473) 76,948 Balance as of December 31, 2023 Ps. 2,250,768 Ps. (913,811) Ps. 1,336,957 Accumulated Carrying December 31, 2022 Cost depreciation amount Land Ps. 38,876 Ps. (6,880) Ps. 31,996 Buildings 1,526,488 (508,092) 1,018,396 Office equipment and accessories 1,882 (745) 1,137 Information technology equipment 122,098 (60,526) 61,572 Vehicles 57,038 (31,484) 25,554 Equipment and machinery 204,044 (91,097) 112,947 Warehouses 145,413 (67,421) 77,992 Balance as of December 31, 2022 Ps. 2,095,839 Ps. (766,245) Ps. 1,329,594 15.3 Investment properties The following table summarizes investment properties as of December 31, 2023 and 2022: Accumulated adjustments Carrying December 31, 2023 Cost to fair value amount Land Ps. 301,519 Ps. 184,715 Ps. 486,234 Buildings 335,770 84,465 420,235 Balance as of December 31, 2023 Ps. 637,289 Ps. 269,180 Ps. 906,469 Accumulated adjustments Carrying December 31, 2022 Cost to fair value amount Land Ps. 346,398 Ps. 175,866 Ps. 522,264 Buildings 283,155 75,544 358,699 Balance as of December 31, 2022 Ps. 629,553 Ps. 251,410 Ps. 880,963 The following amounts have been recognized in the Consolidated Statement of Income during the years ended on December 31, 2023, 2022 and 2021 in relation to investments properties: December 31, December 31, December 31, 2023 2022 2021 Income from rents Ps. 9,618 Ps. 11,930 Ps. 7,862 Direct operating expenses deriving from property investments which create income from rent (1,294) (919) (1,793) Direct operating expenses deriving from property investments which do not create income from rent (13,733) (6,852) (5,292) Ps. (5,409) Ps. 4,159 Ps. 777 15.4 Tangible assets given in operating leases: The following tables shows the balance at December 31, 2023 and 2022, by type of asset: Accumulated Impairment Carrying December 31, 2023 Cost depreciation loss amount Computing equipment Ps. 45,873 Ps. (19,959) Ps. — Ps. 25,914 Vehicles 55,009 (9,335) — 45,674 Machinery and equipment 28,199 (5,388) (410) 22,401 Balance as of December 31, 2023 Ps. 129,081 Ps. (34,682) Ps. (410) Ps. 93,989 Accumulated Impairment Carrying December 31, 2022 Cost depreciation loss amount Computing equipment Ps. 47,094 Ps. (11,807) Ps. — Ps. 35,287 Vehicles 48,210 (4,240) — 43,970 Machinery and equipment 5,496 (2,366) (375) 2,755 Balance as of December 31, 2022 Ps. 100,800 Ps. (18,413) Ps. (375) Ps. 82,012 |
CONCESSION ARRANGEMENTS RIGHTS
CONCESSION ARRANGEMENTS RIGHTS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about service concession arrangements [abstract] | |
CONCESSION ARRANGEMENTS RIGHTS | NOTE 16 – CONCESSION ARRANGEMENTS RIGHTS The following is the balance of the assets in concession arrangements registered in the Group as of December 31, 2023 and 2022: December 31, 2023 December 31, 2022 Financial assets at fair value Ps. 3,830,916 Ps. 3,507,231 Financial asset at amortized cost net (1) 13,981,904 12,645,785 Total financial assets in concession arrangements rights (2) Ps. 17,812,820 Ps. 16,153,016 Intangible assets 13,557,267 13,242,706 Total assets in concession arrangements rights Ps 31,370,087 Ps. 29,395,722 (1) As of December 31, 2023 and 2022, the balance of the financial asset at amortized cost includes an impairment expense of Ps. ( 223 ); Ps. ( 1,220 ) and Ps. ( 3,050 ) respectively, see note 16.1. (2) See note 12.1, “Contract assets”. 16.1 Financial Assets in Concession Arrangements The following table shows the changes in financial assets in concession arrangements registered in Grupo Aval’s subsidiaries for the years ended on December 31, 2023, 2022 and 2021: Gas and Energy Infrastructure At fair value At amortized cost Total At amortized cost Total Balance as of January 1, 2021 Ps. 2,958,385 Ps. — Ps. 2,958,385 Ps. 6,769,123 Ps. 9,727,508 Additions or new concession arrangements (1) — — — 2,613,987 2,613,987 Collections during the year — — — (273,665) (273,665) Adjustment to fair value 270,095 — 270,095 — 270,095 Accrued interest — — — 746,657 746,657 Impairment expense — — — (3,050) (3,050) Balance as of December 31, 2021 Ps. 3,228,480 Ps. — Ps. 3,228,480 Ps. 9,853,052 Ps. 13,081,532 Additions or new concession arrangements (1) — 4,575 4,575 1,690,450 1,695,025 Collections during the year — — — (732,647) (732,647) Adjustment to fair value 278,751 — 278,751 — 278,751 Accrued interest — — — 1,831,326 1,831,326 Impairment expense — — — (1,220) (1,220) Effect of movements in exchange rates — 249 249 — 249 Balance as of December 31, 2022 Ps. 3,507,231 Ps. 4,824 Ps. 3,512,055 Ps. 12,640,961 Ps. 16,153,016 Additions or new concession arrangements (1) — 118,109 118,109 877,884 995,993 Collections during the year — — — (1,144,396) (1,144,396) Adjustment to fair value 323,685 — 323,685 — 323,685 Accrued interest — — — 1,493,115 1,493,115 Impairment expense — — — (223) (223) Effect of movements in exchange rates — (8,370) (8,370) — (8,370) Balance as of December 31, 2023 Ps. 3,830,916 Ps. 114,563 Ps. 3,945,479 Ps. 13,867,341 Ps. 17,812,820 (1) Includes work progress on the Covioriente and Covipacífico concessions; as of December 31, 2023 Ps. 715,573 and Ps. 130,105 respectively; as of December 31, 2022 Ps. 1,043,138 and Ps. 621,988 respectively and as of December 31, 2021 Ps. 1,264,543 and Ps. 1,306,580 respectively. 16.2 Intangible Assets in Concession Arrangements The following table shows the movements of the main concession arrangements in Grupo Aval’s subsidiaries under intangible assets during years ended at December 31, 2023, 2022 and 2021: Cost Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. 4,654,890 Ps. 5,495,855 Ps. 10,150,745 Additions (1) 982,508 922,203 1,904,711 Reclassification to / from PPE 20,301 — 20,301 Transfer to non-current assets held for sale 2,516 — 2,516 Withdrawals (5,104) — (5,104) Effect of movements in exchange rates 238,721 — 238,721 Balance as of December 31, 2021 Ps. 5,893,832 Ps. 6,418,058 Ps. 12,311,890 Additions (1) 809,085 1,103,283 1,912,368 Reclassification to / from PPE 113 — 113 Withdrawals (11,724) — (11,724) Effect of movements in exchange rates 547,529 — 547,529 Balance as of December 31, 2022 Ps. 7,238,835 Ps. 7,521,341 Ps. 14,760,176 Additions (1) 588,454 714,489 1,302,943 Reclassification to / from PPE 229 4,041 4,270 Withdrawals (6,489) — (6,489) Effect of movements in exchange rates (712,856) — (712,856) Balance as of December 31, 2023 Ps. 7,108,173 Ps. 8,239,871 Ps. 15,348,044 Accumulated Amortization Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. (821,017) Ps. (136,926) Ps. (957,943) Amortization of the year (222,894) (9,921) (232,815) Reclassification to / from PPE 45 — 45 Withdrawals 1,236 — 1,236 Effect of movements in exchange rates (12,895) — (12,895) Balance as of December 31, 2021 Ps. (1,055,525) Ps. (146,847) Ps. (1,202,372) Amortization of the year (253,692) (19,016) (272,708) Withdrawals 835 — 835 Effect of movements in exchange rates (30,801) — (30,801) Balance as of December 31, 2022 Ps. (1,339,183) Ps. (165,863) Ps. (1,505,046) Amortization of the year (277,702) (39,385) (317,087) Reclassification to / from PPE — (2,184) (2,184) Withdrawals 289 — 289 Effect of movements in exchange rates 41,062 — 41,062 Balance as of December 31, 2023 Ps. (1,575,534) Ps. (207,432) Ps. (1,782,966) Impairment loss Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. (2,296) Ps. (2,942) Ps. (5,238) Period impairment charge (4,850) (1,314) (6,164) Balance as of December 31, 2021 Ps. (7,146) Ps. (4,256) Ps. (11,402) Period impairment charge (665) (357) (1,022) Balance as of December 31, 2022 Ps. (7,811) Ps. (4,613) Ps. (12,424) Period impairment charge — 4,613 4,613 Balance as of December 31, 2023 Ps. (7,811) Ps. — Ps. (7,811) Total Intangible Assets Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. 3,831,577 Ps. 5,355,987 Ps. 9,187,564 Cost 1,238,942 922,203 2,161,145 Amortization (234,508) (9,921) (244,429) Impairment loss (4,850) (1,314) (6,164) Balance as of December 31, 2021 (2) Ps. 4,831,161 Ps. 6,266,955 Ps. 11,098,116 Cost 1,345,003 1,103,283 2,448,286 Amortization (283,658) (19,016) (302,674) Impairment loss (665) (357) (1,022) Balance as of December 31, 2022 (2) Ps. 5,891,841 Ps. 7,350,865 Ps. 13,242,706 Cost (130,662) 718,530 587,868 Amortization (236,351) (41,569) (277,920) Impairment loss — 4,613 4,613 Balance as of December 31, 2023 (2) Ps. 5,524,828 Ps. 8,032,439 Ps. 13,557,267 (1) Gas and Energy, includes borrowing costs capitalized for Ps. 31,672 as of December 31, 2023; Ps. 26,134 as of December 31, 2022 and Ps. 13,856 as of December 31, 2021 with a capitalized interest rate (weighted average) of 12.17% , 8.98% and 5.39% respectively. (2) Includes intangible assets derived from concession contracts in construction phase for Infrastructure and Gas and Energy by Ps. 7,833,886 and Ps. 130,936 as of December 31, 2023 respectively; Ps. 7,136,073 and Ps. 193,627 as of December 31, 2022 respectively; and Ps. 6,266,955 and Ps. 669,540 as of December 31, 2021 respectively. The following is a summary of the main concession contracts granted to Grupo Aval’s subsidiaries as of December 31, 2023: Year of Concession Contract construction % progress Concession Owner Recognition Business and country Objective Current stage date start of construction end date Gas and Energy Surtigas S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Purchase, storage, packaging and distribution of gases derived from hydrocarbons. Operation 03/1984 to 04/1994 1984 100 % 2034 to 2045 Transmetano E.S.P. S.A. Fair value / Intangible assets Gas and Energy Colombia Construction, operation and maintenance of gas transportation systems. Operation 08/1994 1996 100 % 2044 Promigas S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Purchase, sale, transportation, distribution, exploitation and exploration of natural gas, oil and hydrocarbons in general. Operation 05/1976 to 11/1994 1976 100 % 2026 to 2044 Promioriente S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Construction, operation and maintenance of gas pipelines. Operation 09/1995 1995 100 % 2045 Gases de Occidente S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Transportation and distribution of liquefied petroleum gas and natural gas. Operation 08/1998 1998 100 % 2047 Compañía Energética de Occidente S.A. E.S.P. (1) Intangible assets Gas and Energy Colombia Administrative, operational, technical and commercial management for the provision of electrical energy. Operation and maintenance 01/2010 2010 100 % 2035 Sociedad Portuaria El Cayao S.A. E.S.P. Intangible assets Gas and Energy Colombia Construction, maintenance and administration of ports. Operation 07/2015 2015 100 % 2035 Gases del Pacífico S.A.C. Amortized cost / Intangible assets Gas and Energy Perú Purchase, sale, production, commercialization of energy in any of its forms. Operation 10/2013 2015 100 % 2034 Gases del Norte del Perú S.A.C. Amortized cost / Intangible assets Gas and Energy Perú Construction and distribution service of natural gas. Construction and Operation 11/2019 2020 85.84 % 2051 Infrastructure Proyectos de Infraestructura S.A. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 12/1993 1994 100 % 2033 Concesiones CCFC S.A.S. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 06/1995 2001 100 % 2024 Concesionaria Panamericana S.A.S. Amortized cost / Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 12/1997 2009 100 % 2035 Year of Concession Contract construction % progress Concession Owner Recognition Business and country Objective Current stage date start of construction end date Concesionaria Vial del Pacífico S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 09/2014 2018 95.93 % 2043 Concesionaria Nueva Vía del Mar S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Preconstruction 01/2015 2024 4.11 % 2044 Concesionaria Vial Andina S.A.S. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 06/2015 2016 100 % 2054 Concesionaria Vial Del Oriente S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 07/2015 2018 92.41 % 2043 (1) The concession has an investment commitment for the expansion, replacement and improvement of the infrastructure which as of December 2023 has an advance of 54.33%. |
GOODWILL
GOODWILL | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |
GOODWILL | NOTE 17 – GOODWILL The following table shows the movement of the goodwill balance during the years ended December 31, 2023 and 2022: December 31, 2023 December 31, 2022 Balance at the beginning of the year Ps. 2,248,217 Ps. 8,486,560 Impairment charge (10,000) (12,257) Loss of control in subsidiary (1) — (5,902,410) Effect of movements in exchange rates (2)(3) (35,995) (323,676) Balance at the end of the year Ps. 2,202,222 Ps. 2,248,217 (1) See note 1.1. (A), "Discontinued operations of BAC Holding". (2) The foreign exchange adjustment is attributable to Multifinancial Group Inc. for Ps. (35,995) in 2023 and Ps. 30,200 in 2022. (3) Includes the effect of exchange rates for the discontinued operation of BAC Holding International Corp. for Ps. (353,876) in 2022. The following is the detail of goodwill assigned per Cash Generating Units (CGU), representing the smallest identifiable levels which are monitored by Grupo Aval’s management and which are not greater than the business’ segments: Goodwill carrying amount December 31, December 31, CGU 2023 2022 Sociedad Administradora de Pensiones y Cesantías Porvenir S.A. Ps. 538,231 Ps. 538,231 Banco de Bogotá S.A. over Megabanco (1) 465,905 465,905 Banco Popular S.A. 358,401 358,401 Banco de Bogotá S.A. 301,222 301,222 Banco de Bogotá S.A. over Multi Financial Group Inc. (2) 139,226 175,221 Promigas S.A. and Subsidiaries 169,687 169,687 Banco de Occidente S.A. 127,571 127,571 Concesionaria Panamericana S.A.S. 72,594 82,594 Banco de Occidente S.A. over Banco Unión (1) 22,724 22,724 Hoteles Estelar S.A. 6,661 6,661 Ps. 2,202,222 Ps. 2,248,217 (1) G ood will recognized as a result of mergers between Banco de Bogotá with Megabanco and Banco de Occidente with Banco Unión. (2) The variation presented corresponds to the foreign exchange adjustment attributable to Multi Financial Group Inc. The recoverable amount of each cash generating unit was determined based on a valuation carried out by an appropriate expert. Such calculations used cash flow projections, covering periods from 5 to 20 years. Cash flows subsequent to these periods were extrapolated using estimated growth rates for such flows, not exceeding the average of the economic sector where the cash generating unit operates. Below is the detail of the most significant values that comprise Goodwill: A. Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Porvenir absorbed AFP Horizonte Pensiones y Cesantías S.A. and the goodwill in question was allocated to the groups of cash-generating units that together made up Porvenir later that same year. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was done by an external adviser and reviewed by management. This valuation was conducted in February, 2024 and is based on financial statements of Porvenir on September 30, 2023. The conclusion was that there are no situations that imply a possible impairment, given that the value in use of the groups of cash generating units associated with goodwill was Ps. 9,666,524, exceeding the book value by Ps. 6,618,375. The following are the main assumptions used in the impairment test reports taken as the basis for impairment testing on the dates listed, even though the valuation exercise includes a 13-years projection, the following tables only shows the first 5 years as rates, following the first year of projection, are generally stable with no significant variations. December 31, 2023 2024 2025 2026 2027 2028 Interest rate on investments 8.3 % 6.4 % 6.2 % 6.1 % 6.0 % Borrowing rate 5.8 % 5.8 % 5.8 % 5.8 % 5.8 % Growth in income from commissions 0.8 % 48.5 % 3.3 % 4.9 % 6.1 % Growth in expenses 7.7 % 12.4 % 7.1 % 5.4 % 5.0 % Inflation 5.8 % 3.5 % 3.2 % 3.1 % 3.1 % Discount interest rate after taxes 14.2 % 11.5 % 10.2 % 9.1 % 9.1 % Growth rate after thirteen years 3.1 % December 31, 2022 2023 2024 2025 2026 2027 Interest rate on investments 7.7 % 4.5 % 4.9 % 4.9 % 4.9 % Borrowing rate 5.8 % 5.8 % 5.8 % 5.8 % 5.8 % Growth in income from commissions (6.4) % 55.6 % 2.5 % 2.3 % 4.6 % Growth in expenses (5.3) % 11.4 % 7.2 % 4.9 % 4.5 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount interest rate after taxes 14.4 % 9.5 % 9.0 % 8.2 % 8.1 % Growth rate after thirteen years 2.9 % A 13-years projection was made to estimate goodwill based on macroeconomic assumptions and those related to the business of Porvenir, as indicated in the foregoing tables. The following is a description of that process. ● Investments and borrowing rates were projected using historical data and data provided by the Company on the business. ● The estimated increases in commissions and expenses are based on business growth and other transactions estimated by the Company. ● The inflation rate used in the projections is based on reports from outside sources, such as Oxford Economist. ● The growth rate used for the terminal value was 3.1% , which is the average projected inflation provided by the independent specialists. The after-tax discount interest rate that was used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate had been 0.5% higher than the estimated rate in the valuation done by external experts, there would be no need to reduce the book value of goodwill, since the value in use of the groups of cash-generating units associated with goodwill would be Ps. 8,958,407 and still exceeding book value as of December, 2023 of Ps. 3,048,149. B. Cash-generating units inside Banco de Bogotá Goodwill was generated in 2006 with the acquisition of 94.99% of the shares of Banco de Crédito y Desarrollo Social – MEGABANCO S.A. and later merged with Banco de Bogotá. This operation was authorized by the Office of the Superintendency of Finance in Resolution No. 917 dated June 2, 2006. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was performed by an independent adviser and reviewed by management. This valuation was conducted in January, 2024 and is based on Banco de Bogotá´s financial statements as of September 30, 2023. It was concluded that there are no situations that imply a possible impairment, given that the value in use of the groups of cash generating units associated with goodwill was Ps. 12,391,866 exceeds the book value by Ps. 6,039,628. The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.1 % 10.8 % 10.2 % 10.0 % 9.8 % Borrowing rate 7.1 % 5.5 % 4.9 % 4.7 % 4.5 % Growth in income from commissions 16.0 % 14.7 % 14.1 % 11.3 % 11.2 % Growth in expenses 11.7 % 8.3 % 7.9 % 6.2 % 5.6 % Inflation 5.8 % 3.5 % 3.2 % 3.1 % 3.1 % Discount rate after taxes 16.5 % 13.7 % 12.4 % 11.3 % 11.6 % Growth rate after five years 6.5 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.3 % 11.2 % 10.5 % 10.4 % 10.2 % Borrowing rate 6.9 % 5.4 % 4.6 % 4.5 % 4.5 % Growth in income from commissions 15.4 % 10.8 % 14.9 % 15.3 % 15.3 % Growth in expenses 14.6 % 8.2 % 8.2 % 8.2 % 8.2 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % A 5-years projection was made to estimate goodwill, based on macroeconomic assumptions and those related to the businesses listed in the foregoing tables. The following is a description of that process: ● The lending rates on loans and investments were projected based on the company and independent specialist expectations. ● The borrowing rates were projected based on the company and independent specialist expectations. ● Estimated growths for commissions are based on historical percentages. The commission income was estimated as a percentage of net portfolio and the commission expense was calculated as a percentage of deposits. ● Estimated growth for expenses are based on the growth expectations of the company to support the growth of assets and the development of its operation. ● The inflation used in the projections is based on reports from external sources such as Oxford Economics. ● The growth rate used for the terminal value was 6.5% , which corresponds to the growth company expectation for the long term. The discount rate after taxes used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate had been 0.5% higher than the rate estimated in the models, the book value of goodwill would not have to be impaired, since the value in use of the groups of cash-generating units associated with goodwill would have been Ps. 11,213,891, still exceeding book value as of December, 2023 of Ps. 6,352,238. C. Banco Popular S.A. The acquisition process of Grupo Aval's stake in Banco Popular S.A. began in December 2006 and ended in September 2011, where Grupo Aval closed with a direct participation of 93.74%. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was performed by an independent adviser and reviewed by management. This valuation was conducted in February, 2024 and is based on Banco Popular´s financial statements as of December 31, 2023. It was concluded that there are no situations that imply a possible impairment, given that the value in use of the groups of cash generating units associated with goodwill was Ps. 3,776,691 exceeds the book value by Ps. 838,149. The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.5 % 12.3 % 12.0 % 11.6 % 10.9 % Borrowing rate 8.2 % 6.1 % 5.2 % 4.7 % 4.1 % Growth in income from commissions 6.8 % 3.4 % 16.5 % 6.8 % 6.5 % Growth in expenses 8.3 % (13.2) % 1.5 % 7.7 % 7.5 % Inflation 7.2 % 3.8 % 3.0 % 3.0 % 3.0 % Discount rate after taxes 17.3 % 13.6 % 12.0 % 11.4 % 11.6 % Growth rate after five years 6.0 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.9 % 12.6 % 10.9 % 10.9 % 10.9 % Borrowing rate 9.2 % 7.4 % 5.8 % 5.2 % 4.8 % Growth in income from commissions 6.1 % 11.4 % 16.7 % 11.3 % 8.4 % Growth in expenses 13.2 % 6.6 % 7.5 % 7.6 % 6.8 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % A 5-years projection was made to estimate goodwill, based on macroeconomic assumptions and those related to the businesses listed in the foregoing tables. The following is a description of that process: ● The lending rates on loans and investments were projected based on the company and independent specialist expectations. ● The borrowing rates were projected based on the company and independent specialist expectations. ● Estimated growths for commissions are based on historical percentages. The commission income was estimated as a percentage of net portfolio and the commission expense was calculated as a percentage of deposits. ● Estimated growth for expenses are based on the growth expectations of the company to support the growth of assets and the development of its operation. ● The inflation used in the projections is based on reports from external sources such as Oxford Economics. ● The growth rate used for the terminal value was 6.0% , which corresponds to the growth company expectation for the long term. The discount rate after taxes used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate had been 0.5% higher than the rate estimated in the models, the book value of goodwill would not have to be impaired, since the value in use of the groups of cash-generating units associated with goodwill would have been Ps. 3,442,796, still exceeding book value as of December, 2023 of Ps. 2,938,542. D. Banco de Bogotá S.A. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was performed by an independent adviser and reviewed by management. This valuation was conducted in February, 2024 and is based on Banco de Bogotá´s financial statements as of December 31,2023. It was concluded that there are no situations that imply a possible impairment, given that the value in use of the groups of cash generating units associated with goodwill was Ps. 14,060,477 exceeds the book value by Ps. 5,054,718. The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.9 % 11.2 % 10.5 % 10.3 % 10.1 % Borrowing rate 7.2 % 5.6 % 4.9 % 4.7 % 4.6 % Growth in income from commissions (3.4) % 14.2 % 14.3 % 11.7 % 11.0 % Growth in expenses 9.5 % 8.7 % 8.4 % 6.9 % 5.1 % Inflation 7.2 % 3.8 % 3.0 % 3.0 % 3.0 % Discount rate after taxes 17.3 % 13.6 % 12.1 % 11.4 % 11.7 % Growth rate after five years 6.0 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.9 % 11.7 % 11.0 % 10.8 % 10.6 % Borrowing rate 6.9 % 5.3 % 4.6 % 4.6 % 4.5 % Growth in income from commissions 16.7 % 11.5 % 13.8 % 14.4 % 13.7 % Growth in expenses 15.9 % 9.8 % 9.8 % 9.7 % 6.0 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % A 5-years projection was made to estimate goodwill, based on macroeconomic assumptions and those related to the businesses listed in the foregoing tables. The following is a description of that process: ● The lending rates on loans and investments were projected based on the company and independent specialist expectations. ● The borrowing rates were projected based on the company and independent specialist expectations. ● Estimated growths for commissions are based on historical percentages. The commission income was estimated as a percentage of net portfolio and the commission expense was calculated as a percentage of deposits. ● Estimated growth for expenses are based on the growth expectations of the company to support the growth of assets and the development of its operation. ● The inflation used in the projections is based on reports from external sources such as Oxford Economics. ● The growth rate used for the terminal value was 6.0% , which corresponds to the growth company expectation for the long term. The discount rate after taxes used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate had been 0.5% higher than the rate estimated in the models, the book value of goodwill would not have to be impaired, since the value in use of the groups of cash-generating units associated with goodwill would have been Ps. 12,865,943, still exceeding book value as of December, 2023 of Ps. 9,005,759. E. Multi Financial Group Inc. On May 22, 2020, Banco de Bogotá acquired 96.6% of the shares of Multi Financial Group (MFG) through its subsidiary Leasing Bogotá S.A. Panama (LBP), and subsequently between the months of June and December 2020, acquired the additional 2.97%, for a 99.6% total. As of December 31, 2020 the Purchase Price Allocation process (PPA) was finished, and the final goodwill value was determined. As of September 2021, Leasing Bogotá Panama changed its business name to BAC Holding International (BAC Holding) and spun-off Multi Financial Group. As a result, Banco de Bogotá took control of the company through Multi Financial Holding, therefore the goodwill of Bac Credomatic and its subsequent acquisitions belong to BAC Holding International, and the goodwill of Multi Financial Group belongs to Multi Financial Holding. The latest valuation update for the business lines of the groups of cash-generating units to which this goodwill was allocated, was performed by an independent adviser and reviewed by management. This valuation was conducted in January, 2024 and is based on Multi Financial Group´s financial statements as of September 30, 2023. It was concluded that there are no situations that imply a possible impairment, given that the value in use of the groups of cash generating units associated with goodwill was Ps. 2,503,432 exceeds the book value by Ps. 829,630. The following table shows the main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill. December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 6.9 % 6.9 % 6.9 % 6.9 % 6.9 % Borrowing rate 4.8 % 4.4 % 4.3 % 4.2 % 4.2 % Growth in income from commissions (22.0) % 8.6 % 12.6 % 11.7 % 11.9 % Growth in expenses (1.6) % 2.1 % 1.4 % 2.6 % 3.0 % Discount rate after taxes 11.3 % Growth rate after ten years 5.6 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 6.4 % 6.6 % 6.8 % 6.9 % 7.0 % Borrowing rate 4.0 % 4.0 % 4.0 % 4.1 % 4.1 % Growth in income from commissions 9.4 % 7.2 % 8.9 % 9.4 % 8.7 % Growth in expenses 4.5 % 3.0 % 2.8 % 1.9 % 3.1 % Discount rate after taxes 10.6 % Growth rate after ten years 4.0 % The averages of the main premises used are listed in the foregoing tables. The following is a description of that process. ● Lending rates on loans and investments were projected based on historical data and on the management expectations, considering the competitiveness of the different services in their respective markets and the growth strategies for each segment. ● For its part, for the growth in commissions was projected considering the increase in loan portfolios; this allows promoting greater income collection through products and services such as insurance, memberships, exchange commissions, among others, as well as the implementation of new services. As well as more competitive markets over the projected timeline. ● The future flows of funds are denominated in US dollars and are discounted at a nominal rate in US dollars, estimated as "Ke". ● The discount rate has been estimated considering the risk profile of the market where MFG operates. ● To estimate the terminal value, a perpetuity has been projected based on the normalized cash flow, adjusted according to the expectations of stabilized long-term growth. This evolution is in line with the long-term average growth rate for the country's economy. In this case, an annual long-term average nominal growth rate in dollars of 5.6% was considered. The discount rate after taxes used to discount dividend flows reflects the specific risks relative to each cash-generating unit. If the estimated discount rate had been 0.5% higher than the rate estimated in the models, the book value of goodwill would not have to be impaired, since the value in use of the groups of cash-generating units associated with goodwill would have been Ps. 2,273,792, still exceeding book value as of December, 2023 of Ps. 1,673,802. |
OTHER INTANGIBLE ASSETS
OTHER INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets other than goodwill [abstract] | |
OTHER INTANGIBLE ASSETS | NOTE 18 – OTHER INTANGIBLE ASSETS The following table shows the movements of the other intangible assets during years ended on December 31, 2023, 2022 and 2021: Internally generated Separate Developing In use acquisition Total Balance as of January 1, 2021 Ps. 473,204 Ps. 227,555 Ps. 922,911 Ps. 1,623,670 Capitalizations / Acquisitions / Purchases 376,344 — 106,184 482,528 Amortization — (44,916) (192,712) (237,628) Impairment loss — — (3,000) (3,000) Transfers (290,425) 197,235 93,190 — Withdrawals (9,962) (918) (7,826) (18,706) Discontinued operations (1) 13,538 — (90,873) (77,335) Reclassification BAC (2) — — 93,639 93,639 Effect of movements in exchange rates 562 — 22,312 22,874 Balance as of December 31, 2021 Ps. 563,261 Ps. 378,956 Ps. 943,825 Ps. 1,886,042 Capitalizations / Acquisitions / Purchases 494,055 — 105,623 599,678 Amortization — (70,538) (187,379) (257,917) Transfers (252,193) 155,588 96,605 — Withdrawals (3,619) (46) (1,335) (5,000) Discontinued operations (1) — — (23,239) (23,239) Reclassification BAC (2) (13,538) — (177,432) (190,970) Effect of movements in exchange rates 1,720 — 29,844 31,564 Balance as of December 31, 2022 Ps. 789,686 Ps. 463,960 Ps. 786,512 Ps. 2,040,158 Capitalizations / Acquisitions / Purchases 629,807 — 52,889 682,696 Amortization — (89,949) (187,073) (277,022) Transfers (191,381) 111,365 80,016 — Withdrawals (11,244) — (1,962) (13,206) Arrangement of entities (3) (14,333) — (459) (14,792) Effect of movements in exchange rates (1,092) — (34,315) (35,407) Balance as of December 31, 2023 Ps. 1,201,443 Ps. 485,376 Ps. 695,608 Ps. 2,382,427 (1) See note 1.1 “Discontinued operations of BAC Holding”. (2) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. (3) Includes the sale of Peajes Electrónicos . |
INCOME TAX
INCOME TAX | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of income tax [abstract] | |
INCOME TAX | NOTE 19 – INCOME TAX 19.1 Components of the income tax expense: The income tax expense for the years ended on December 31, 2023, 2022 and 2021 comprises the following: December 31, December 31, December 31, 2023 2022 2021 Current period income tax Ps. 1,017,411 Ps. 822,758 Ps. 1,075,407 Income tax surcharge 27,627 15,625 60,730 Subtotal current period taxes Ps. 1,045,038 Ps. 838,383 Ps. 1,136,137 Prior years adjustments (20,491) (35,553) (102,937) Adjustment due to settlement of uncertain tax positions from prior years (772) (6,802) (933) Deferred taxes Deferred taxes current period 286,824 1,467,519 1,256,588 Deferred taxes - Prior years adjustments (165) 7,857 34,573 Subtotal deferred taxes Ps. 286,659 Ps. 1,475,376 Ps. 1,291,161 Total continued operations Ps. 1,310,434 Ps. 2,271,404 Ps. 2,323,428 19.2 Reconciliation of the Nominal Tax Rate and the Effective tax Rate: The tax rules in relation to the income tax applicable during the years 2023, 2022 and 2021, among other things, establish the following: In Colombia ● The income tax rate to be 35% plus an income tax surcharge of 5% applicable to financial institutions in 2023, 35% plus an income tax surcharge of 3% applicable to financial institutions in 2022 and 31% plus an income tax surcharge of 3% applicable to financial institutions in 2021. ● The income tax rate applicable to corporations is 35% for the year 2024 and subsequent years and the income surtax applicable to financial institutions with taxable income equal to or greater than 120,000 UVT in the period is 5% for the years 2024, 2025, 2026 and 2027. ● Gains on the sale or disposal of non-current assets held for more than two years is taxed at 15% in 2023 and 10% in 2022 and 2021. ● Gains of the entities that belong to the special free zone regime in Colombia is taxed at 20% . ● In 2023, there is the possibility of taking as a deduction in income tax 100% of the industry and commerce tax (ICA) paid in the taxable period. For the years 2022 and 2021, the tax rule allows, that the ICA can be treated as a deduction or as a tax discount at the convenience of each company. ● The withholding rate at source for dividends received by national companies that do not constitute income or occasional profit is 10% in 2023 and 7.5% for 2022. This withholding will be transferable. to the resident natural person or the foreign investor. ● Tax loss carry-forwards incurred since 2017 may be offset against company taxable income over the following twelve years. Tax loss-carry forwards incurred prior to 2017 may be offset on the same terms applicable for 2016, but they may not be fiscally readjusted. ● The “presumptive income” incurred since 2017 may be offset by taxable income over the following five years. Considering that presumptive income only existed in Colombia until 2020, the excess presumptive income generated in 2020 will be the last subject to compensation in subsequent years. ● For the determination of income current tax as from January 1, 2017 the value of assets, liabilities, equity, income, costs and expenses, will apply the recognition and measurement systems, in accordance with the technical accounting regulatory frameworks in Colombia when the tax law expressly refers to them and in the cases in which it does not regulate the matter. The tax law may expressly provide for a different treatment. ● Social Investment Law extended the audit benefit for the years 2022 and 2023 for taxpayers who increase the net income tax for the taxable year in relation to the net income tax of the prior year by at least 35% and 25% , with which the tax return will be firm within 6 or 12 months following the date of its presentation, respectively. ● The statute of limitations of the tax return taxpayers who determine or compensate for tax losses or are subject to the transfer pricing regime will be 5 years since Law 2010 of 2019. In other countries After the spin-off of BAC Holding, the international presence of Grupo Aval includes participation in jurisdictions such as Panama, Peru and Barbados. Subsidiaries with a local license in Panama are taxed at a rate of 25%, while companies responsible for income tax in Peru are taxed at a rate of 29.5% as of 2017. Barbados is taxed at a rate of 4.25%. from the year 2022. Previously, BAC Holding through its subsidiaries had a presence in Central America as well: BAC Holding had an international license in Panamá it is subject to a tax rate of 0%. The subsidiaries in Guatemala were taxed at a rate of 25%; the subsidiaries in El Salvador, Honduras Costa Rica Nicaragua Below is the detailed reconciliation between total expenses of the income tax of Grupo Aval calculated at the applicable enacted tax rate and the tax expense recognized in the statement of income for the years ended on December 31, 2023, 2022 and 2021: Years ended on: December 31, December 31, December 31, 2023 2022 2021 Profit before income tax Ps. 3,487,550 Ps. 6,274,371 Ps. 6,364,618 Enacted tax rate in Colombia 40 % 38 % 34 % Theoretical income tax expense 1,395,020 2,384,261 2,163,970 Nondeductible expenses 872,723 465,986 378,301 Tax losses considered non recoverable for income tax purpose (1) 71,741 192,470 9,480 Presumptive income considered non recoverable for income tax purpose (23) (7,666) (7,845) Nontaxable dividends (47,242) (40,420) (51,334) Nontaxable income under equity method in associates (150,626) (141,655) (111,736) Profit (loss) on sales or appraisal of investment (5,009) (439) (695) Nontaxable interest income and other income (274,758) (281,715) (133,711) Other nontaxable income (182,121) (578,592) (283,755) Non-accountable tax revenues in Sale of BHI 114,201 543,879 — Revenues taxable at different tax rate 47,139 9,218 1,453 Tax benefits in the acquisition of property and equipment (32,493) (34,018) (22,431) Tax Discounts (25,086) (80,804) (91,829) Profits (losses) in Subsidiaries in tax free countries or with different tax rate (246,999) (188,701) (55,366) Effect on the deferred income tax due to changes in tax rates (2) (176,764) 56,129 587,939 Prior year adjustments (20,491) (35,553) (102,937) Adjustments due to uncertain tax positions in previous year (772) (6,802) (933) Deferred taxes - Prior years adjustments (165) 7,857 34,573 With holding tax 9,479 654 4,399 Other (37,320) 7,315 5,885 Total tax expense of the year Ps. 1,310,434 Ps. 2,271,404 Ps. 2,323,428 Effective income tax rate 37.57 % 36.20 % 36.51 % (1) Corficolombiana and its subsidiaries recorded tax losses on which no deferred tax asset was recorded for Ps. 71,741 in 2023, Ps. 192,470 in 2022 and 9,480 in 2021, because there is no certainty of their recoverability in the future. (2) In 2023 corresponds to the effect of the difference between the rate applied in the calculation of the deferred tax and the statutory rate for the period. The greatest impact is mainly recorded by Corficolombiana with Ps. 87,085 , explained by the recalculation of the deferred tax liability of the concessions, Banco Popular for Ps. 57,700 , explained by the calculation of the deferred tax at the 35% rate, Banco Occidente for Ps. 36,523 , explained by the differences in rates of its subsidiaries Nexa and Barbados and other entities for Ps (4,544) . In 2021 corresponds to the effect of the difference in rate applied by entities with respect to the statutory rate of 36% . Banco Bogotá records an effect of Ps. 262,901 explained by the differential rates of BAC Holding and subsidiaries. Corficolombiana records an effect of Ps. 133,329 explained by their subsidiaries that are not subject to the 4% income tax surcharge rate. Other entities contribute Ps. 7,611 . 19.3 Tax Losses and excess of Presumptive Income: The following table shows the detail of the tax loss carry forward and excess of presumptive income over taxable income of the entities of Grupo Aval which are not recognized as deferred tax assets, as of December 31, 2023 and 2022. December 31, December 31, 2023 2022 Tax loss carry forwards expiring on: December 31, 2023 Ps. — Ps. 1,323 December 31, 2024 4,902 4,846 December 31, 2025 2,179 2,748 December 31, 2026 5,908 40 December 31, 2029 173,448 170,835 December 31, 2030 289,982 279,605 December 31, 2031 248,444 215,970 December 31, 2032 169,572 15,799 December 31, 2033 37,969 6,931 December 31, 2034 262,578 516,801 December 31, 2035 383,897 122 Without expiration date 414,318 414,234 Subtotal Ps. 1,993,196 Ps. 1,629,254 Excess of presumptive income expiring on: December 31, 2023 Ps. — Ps. 44,246 December 31, 2024 26,883 24,492 December 31, 2025 7,642 6,791 Subtotal Ps. 34,525 Ps. 75,529 Total Ps. 2,027,721 Ps. 1,704,783 19.4 Deferred Taxes from Investments in Subsidiaries: According with IAS 12, Grupo Aval did not record deferred income tax liabilities related to temporary differences of investments in subsidiaries because: i) Grupo Aval has control over the subsidiaries and the dividend policy of its subsidiaries and it can decide about the reversal of such temporary differences; and ii) Grupo Aval does not expect their realization in the short term; therefore, it is probable that such temporary differences will not be reversed in the foreseeable future. As of December 31, 2023 and 2022, Grupo Aval did not record deferred tax liabilities related to taxable temporary differences of investments in subsidiaries of Ps. 8,955,318 and Ps. 8,981,905, respectively. 19.5 Deferred taxes by Type of Temporary Difference: The differences between the carrying value of the assets and liabilities and their tax bases give rise to the following temporary differences which result in deferred taxes, calculated and recorded in the years ended on December 31, 2023, 2022 and 2021, based on current tax regulations as references for the years wherein such temporary differences will be reverted. Year ended on December 31, 2023 Balance as of Credited Credited Foreign exchange Balance as of January 1, (charged) to (charged) to adjustments December 31, 2023 profit or loss OCI 2023 Deferred tax assets Debt securities at fair value Ps. 857,505 Ps. (64,839) Ps. (520,770) Ps. (252) Ps. 271,644 Equity securities at fair value 165 1,245 — — 1,410 Derivative instruments 452,394 674,733 9,793 3,001 1,139,921 Allowance of investments securities 1,468 (1,468) — — — Accounts receivable 258,765 (168,647) — (52) 90,066 Allowance for accounts receivable 80,839 (71,334) — 342 9,847 Loans and receivables 905 3,674 — (9) 4,570 Allowance for impairment on loans and receivables 292,841 (33,103) — (40,463) 219,275 Allowance for foreclosed assets 8,750 (3,216) — (1,054) 4,480 Property, plant and equipment costs 349,485 121,098 — (96) 470,487 Depreciation of property, plant and equipment 18,018 (39,387) — 44,879 23,510 Investment property 31,061 (31,061) — — — Deferred charges and of intangible assets 237,436 61,968 — 29 299,433 Tax losses carry forward 272,020 778,311 — 5,049 1,055,380 Surplus of presumptive income 18,350 (16,044) — — 2,306 Provisions 326,889 23,237 — (14,532) 335,594 Employee benefits 73,732 (25,676) 14,386 (737) 61,705 Financial assets in concession contracts 1,585,925 (333,025) — (10,059) 1,242,841 Biological assets 167 (17) — — 150 Lease agreements 619,032 16,044 — (15,625) 619,451 Foreign currency bonds 1,421,540 (620,538) (273,608) — 527,394 Foreign currency financial liabilities 365,565 (365,565) — — — Other 396,367 (71,664) (89,171) 27,825 263,357 Subtotal Ps. 7,669,219 Ps. (165,274) Ps. (859,370) Ps. (1,754) Ps. 6,642,821 Deferred tax liabilities Debt securities at fair value Ps. (3,568) Ps. (5,673) Ps. (5,346) Ps. 77 Ps. (14,510) Equity securities at fair value (172,559) (32,989) 3,542 (175) (202,181) Derivative instruments (663,726) 8,847 — (438) (655,317) Accounts receivable (257,754) 225,450 — (25) (32,329) Allowance of investments securities (2,577) 2,155 — — (422) Loans and receivables (37,469) 12,636 — — (24,833) Allowance for impairment on loans and receivables (700,024) 29,937 — 13,931 (656,156) Foreclosed assets (75,396) 25,870 — — (49,526) Property plant and equipment costs (234,385) 4,968 1,051 1,748 (226,618) Depreciation of property, plant and equipment (462,695) (27,481) — 1,080 (489,096) Investment property (97,608) 51,362 — 112 (46,134) Right-of-use (314,062) 35,513 — 2,125 (276,424) Deferred charges and of intangible assets (326,052) (94,613) — 2,885 (417,780) Provisions (3,474) (619) — 433 (3,660) Employee benefits (24,321) 23,050 710 114 (447) Goodwill (326,661) — — — (326,661) Deferred Income (1,027,577) (281,375) — — (1,308,952) Financial assets in concession arrangements (197,679) (6,957) — — (204,636) Intangible assets in concession arrangements (5,348,922) 140,818 — 32,807 (5,175,297) Biological assets (63,378) (5,373) — — (68,751) Lease agreements (346,541) (35,077) — — (381,618) Foreign currency financial liabilities — (312,319) 45,229 — (267,090) Other (194,243) 120,485 33 (6,386) (80,111) Subtotal Ps. (10,880,671) Ps. (121,385) Ps. 45,219 Ps. 48,288 Ps. (10,908,549) Total Ps. (3,211,452) Ps. (286,659) Ps. (814,151) Ps. 46,534 Ps. (4,265,728) Year ended on December 31, 2022 Balance as of Credited Credited Foreign Balance as of January 1, Loss of control Discontinued (charged) to (charged) to exchange December 31, 2022 in a Subsidiary (1) operations (1) profit or loss OCI adjustments 2022 Deferred tax assets Debt securities at fair value Ps. 385,338 Ps. (73,729) Ps. 6,567 Ps. 4,195 Ps. 537,052 Ps. (1,918) Ps. 857,505 Equity securities at fair value 1,028 — — (4,371) 3,508 — 165 Derivative instruments 699,311 818,130 — (296,033) (768,615) (399) 452,394 Allowance of investments securities 1,155 — — 313 — — 1,468 Accounts receivable 146,496 — — 111,687 — 582 258,765 Allowance for accounts receivable 59,604 — — 20,489 — 746 80,839 Loans and receivables 1,157 — — (252) — — 905 Allowance for impairment on loans and receivables 562,730 (303,273) 2,425 (3,091) 18,952 15,098 292,841 Allowance for foreclosed assets 21,082 (13,173) 556 (170) — 455 8,750 Property, plant and equipment costs 339,049 — — (30,500) — 40,936 349,485 Depreciation of property, plant and equipment 34,614 — — (16,022) — (574) 18,018 Investment property 30,021 — — 1,323 (283) — 31,061 Deferred charges and of intangible assets 243,170 — — (5,734) — — 237,436 Tax losses carry forward 117,025 — — 142,435 — 12,560 272,020 Surplus of presumptive income 4,351 — — 13,876 — 123 18,350 Provisions 324,063 (28,108) (1,779) 32,570 — 143 326,889 Employee benefits 102,662 (11,440) (1,736) 15,523 (29,818) (1,459) 73,732 Financial assets in concession contracts 1,368,490 — — 217,435 — — 1,585,925 Biological assets 101 — — 66 — — 167 Lease agreements 693,388 (151,767) (2,301) 83,544 — (3,832) 619,032 Foreign currency bonds 720,109 1,005,896 — 378,971 (683,436) — 1,421,540 Foreign currency financial liabilities 83,072 — — 282,493 — — 365,565 Other 233,775 — — 137,533 21,482 3,577 396,367 Subtotal Ps. 6,171,791 Ps. 1,242,536 Ps. 3,732 Ps. 1,086,280 Ps. (901,158) Ps. 66,038 Ps. 7,669,219 Deferred tax liabilities Debt securities at fair value Ps. (73,895) Ps. 103,081 Ps. (7,060) Ps. (24,749) Ps. 22 Ps. (967) Ps. (3,568) Equity securities at fair value (253,422) 135,876 5,910 (26,573) (42,746) 8,396 (172,559) Derivative instruments (32,668) — — (631,300) 286 (44) (663,726) Accounts receivable (177,642) — — (80,114) — 2 (257,754) Allowance of investments securities (1,421) — (7,772) 6,616 — — (2,577) Loans and receivables (29,531) — — (7,938) — — (37,469) Allowance for impairment on loans and receivables (612,925) 112,665 — (199,764) — — (700,024) Foreclosed assets (65,167) — — (10,229) — — (75,396) Provision for foreclosed assets (16,521) 12,817 2,619 1 — 1,084 — Property plant and equipment costs (283,593) 60,039 1,942 (10,472) — (2,301) (234,385) Depreciation of property, plant and equipment (410,226) — — (49,811) — (2,658) (462,695) Investment property (96,342) — — (330) (863) (73) (97,608) Right-of-use (437,169) 133,232 1,586 (19,367) — 7,656 (314,062) Deferred charges and of intangible assets (320,906) 315 (3) (1,838) — (3,620) (326,052) Provisions (16,542) 11,252 1,231 1,315 — (730) (3,474) Employee benefits (41,367) 39,124 (1,578) (22,395) (550) 2,445 (24,321) Goodwill (327,070) — — 409 — — (326,661) Deferred Income (917,159) — — (110,418) — — (1,027,577) Financial assets in concession arrangements (175,332) — — 31,036 — (53,383) (197,679) Intangible assets in concession arrangements (3,994,977) — — (1,292,165) — (61,780) (5,348,922) Biological assets (45,827) — — (17,551) — — (63,378) Lease agreements (317,539) — — (28,992) — (10) (346,541) Other (91,651) (26,045) (3,680) (67,027) (10,521) 4,681 (194,243) Subtotal Ps. (8,738,892) Ps. 582,356 Ps. (6,805) Ps. (2,561,656) Ps. (54,372) Ps. (101,302) Ps. (10,880,671) Total Ps. (2,567,101) Ps. 1,824,892 Ps. (3,073) Ps. (1,475,376) Ps. (955,530) Ps. (35,264) Ps. (3,211,452) Year ended on December 31, 2021 Balance as of Credited Credited Balance as of January 1, Business (charged) to (charged) to Foreign exchange December 31, 2021 combination (1) profit or loss OCI adjustments 2021 Deferred tax assets Debt securities at fair value Ps. 28,230 Ps. (9,022) Ps. 30,408 Ps. 350,014 Ps. (14,292) Ps. 385,338 Equity securities at fair value 275 — 753 — — 1,028 Derivative instruments 609,930 — (216,846) 308,831 (2,604) 699,311 Allowance of investments securities 562 — 593 — — 1,155 Accounts receivable 45,324 — 101,221 — (49) 146,496 Allowance for accounts receivable 47,181 — 12,423 — — 59,604 Loans and receivables 3,623 — (29) — (2,437) 1,157 Allowance for impairment on loans and receivables 448,793 (22,037) 76,976 — 58,998 562,730 Allowance for foreclosed assets 10,169 9,977 (1,219) — 2,155 21,082 Property, plant and equipment costs 323,544 — 15,505 — — 339,049 Depreciation of property, plant and equipment 32,154 — 2,401 — 59 34,614 Investment property 25,461 — 4,481 79 — 30,021 Deferred charges and of intangible assets 214,669 — 28,501 — — 243,170 Tax losses carry forward 86,558 (52) 39,001 — (8,482) 117,025 Surplus of presumptive income 6,071 — (1,720) — — 4,351 Provisions 220,822 2,465 96,428 — 4,348 324,063 Employee benefits 123,700 2,509 (6,884) (19,635) 2,972 102,662 Goodwill 423 — (423) — — — Financial assets in concession contracts 884,158 — 484,332 — — 1,368,490 Biological assets 104 — (3) — — 101 Lease agreements 609,701 (58,498) 114,505 — 27,680 693,388 Foreign currency bonds 267,668 — 29,792 422,649 — 720,109 Foreign currency financial liabilities — — 83,072 — — 83,072 Other 177,040 (5,559) 79,690 18,608 (36,004) 233,775 Subtotal Ps. 4,166,160 Ps. (80,217) Ps. 972,958 Ps. 1,080,546 Ps. 32,344 Ps. 6,171,791 Deferred tax liabilities Debt securities at fair value Ps. (111,742) Ps. 11,417 Ps. (2,155) Ps. (3,767) Ps. 32,352 Ps. (73,895) Equity securities at fair value (203,826) (30,213) 12,776 (20,075) (12,084) (253,422) Derivative instruments (13,194) — (15,724) (3,722) (28) (32,668) Accounts receivable (115,071) — (62,571) — — (177,642) Allowance of investments securities (1,805) — 384 — — (1,421) Loans and receivables (27,042) — (2,489) — — (29,531) Allowance for impairment on loans and receivables (399,561) 39,495 (233,328) — (19,531) (612,925) Foreclosed assets (60,161) — (5,006) — — (65,167) Provision for foreclosed assets (10,388) (4,206) — — (1,927) (16,521) Property plant and equipment costs (270,327) 1,287 (4,747) — (9,806) (283,593) Depreciation of property, plant and equipment (338,964) — (71,262) — — (410,226) Investment property (79,571) — (16,694) — (77) (96,342) Right-of-use (422,659) 55,215 (53,689) — (16,036) (437,169) Deferred charges and of intangible assets (263,802) (1,689) (51,826) — (3,589) (320,906) Provisions (21,766) 6,059 1,503 — (2,338) (16,542) Employee benefits (30,851) (9,143) 200 3,686 (5,259) (41,367) Goodwill (253,223) — (73,847) — — (327,070) Deferred Income (638,438) — (278,721) — — (917,159) Financial assets in concession arrangements (149,928) — (25,404) — — (175,332) Intangible assets in concession arrangements (2,537,348) — (1,451,262) — (6,367) (3,994,977) Biological assets (31,194) — (14,633) — — (45,827) Lease agreements (279,347) — (29,017) — (9,175) (317,539) Foreign currency financial liabilities (39,573) — 39,573 — — — Other (186,651) — 73,820 (2,651) 23,831 (91,651) Subtotal Ps. (6,486,432) Ps. 68,222 Ps. (2,264,119) Ps. (26,529) Ps. (30,034) Ps. (8,738,892) Total Ps. (2,320,272) Ps. (11,995) Ps. (1,291,161) Ps. 1,054,017 Ps. 2,310 Ps. (2,567,101) Grupo Aval offsets deferred tax assets and liabilities by entity and tax authority, considering the application of the tax provisions in Colombia and other countries in which the legal right to offset tax assets and liabilities and other requirements in IAS 12, according to the following breakdown: Gross Deferred tax Balances on Statement December 31, 2023 amounts Offset of financial position Deferred tax asset Ps. 6,642,821 Ps. (5,361,909) Ps. 1,280,912 Deferred tax liability (10,908,549) 5,361,909 (5,546,640) Net Ps. (4,265,728) Ps. — Ps. (4,265,728) Gross Deferred tax Balances on Statement December 31, 2022 amounts Offset of financial position Deferred tax asset Ps. 7,669,219 Ps. (5,818,001) Ps. 1,851,218 Deferred tax liability (10,880,671) 5,818,001 (5,062,670) Net Ps. (3,211,452) Ps. — Ps. (3,211,452) Grupo Aval estimates to recover its income tax assets and settle its income tax liabilities as shown below: Deferred tax December 31, 2023 December 31, 2022 Deferred tax asset recoverable before 12 months Ps. 1,720,235 Ps. 2,012,448 Deferred tax asset recoverable after 12 months 4,922,586 5,656,771 Total Deferred tax asset Ps. 6,642,821 Ps. 7,669,219 Deferred tax liability to settle before 12 months Ps. (999,487) Ps. (1,320,594) Deferred tax liability to settle after 12 months (9,909,062) (9,560,077) Total Deferred tax liability Ps. (10,908,549) Ps. (10,880,671) Total Deferred tax Net Ps. (4,265,728) Ps. (3,211,452) Grupo Aval estimates to recover current tax assets and current tax liabilities as follows: Current tax December 31, 2023 December 31, 2022 Current tax asset recoverable before 12 months Ps. 2,388,441 Ps. 1,192,330 Current tax asset recoverable after 12 months 208,396 590,328 Total Current tax asset Ps. 2,596,837 Ps. 1,782,658 Current tax liability to settle before 12 months Ps. (268,347) Ps. (225,380) Current tax liability to settle after 12 months — (3,437) Total Current tax liability Ps. (268,347) Ps. (228,817) 19.6 Effect of the current and deferred taxes in each component of other comprehensive income in equity: The effects of the current and deferred taxes in each component of other comprehensive income are detailed below during the years ended on December 31, 2023, 2022 and 2021: December 31, 2023 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items (2) Ps. (797,514) Ps. — Ps. 3,972 Ps. (793,542) Hedging derivatives in foreign currency — 919 (2,930) (2,011) Hedging financial liabilities in foreign currency 760,997 — (266,321) 494,676 Cash Flow hedging (3) (35,923) — (83,357) (119,280) Foreign currency translation differences for foreign operations (409,671) — 44,884 (364,787) Investment in associates and join ventures (35,892) — 1,660 (34,232) Debt financial instruments 1,795,666 — (517,560) 1,278,106 Subtotal Items that will be reclassified to profit or loss Ps. 1,277,663 Ps. 919 Ps. (819,652) Ps. 458,930 Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. (1,963) Ps. — Ps. 1,051 Ps. (912) Equity financial instruments 156,383 — (10,646) 145,737 Actuarial gains (losses) from defined benefit pension plans (56,324) — 15,096 (41,228) Subtotal Items that will not be reclassified to profit or loss Ps. 98,096 Ps. — Ps. 5,501 Ps. 103,597 Total “other comprehensive income” during the period Ps. 1,375,759 Ps. 919 Ps. (814,151) Ps. 562,527 (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference (3) See note 10.2 "Cash flow hedges". The effect of changes in the fair value of the account receivable of Ps. (258,982) which is part of the tax basis is not deferred tax. December 31, 2022 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items Ps. (6,675,329) Ps. — Ps. (3,264) Ps. (6,678,593) Hedging derivatives in foreign currency 4,051,499 (700,522) (818,130) 2,532,847 Hedging financial liabilities in foreign currency 2,549,821 (337,996) (586,846) 1,624,979 Cash Flow hedging (2,396) — 2,543 147 Foreign currency translation differences for foreign operations 1,356,213 — (24,593) 1,331,620 Investment in associates and joint ventures 81,730 — (3,054) 78,676 Debt financial instruments (2,187,495) — 545,791 (1,641,704) Subtotal Items that will be reclassified to profit or loss Ps. (825,957) Ps. (1,038,518) Ps. (887,553) Ps. (2,752,028) Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. 461 Ps. — Ps. (1,146) Ps. (685) Equity financial instruments (439,150) — (36,462) (475,612) Actuarial gains (losses) from defined benefit pension plans 95,819 — (30,369) 65,450 Subtotal Items that will not be reclassified to profit or loss Ps. (342,870) Ps. — Ps. (67,977) Ps. (410,847) Total “other comprehensive income” during the period Ps. (1,168,827) Ps. (1,038,518) Ps. (955,530) Ps. (3,162,875) (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference December 31, 2021 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items Ps. 2,565,637 Ps. — Ps. (2,292) Ps. 2,563,345 Hedging derivatives in foreign currency (403,983) — 275,834 (128,149) Hedging financial liabilities in foreign currency (1,198,919) — 476,463 (722,456) Cash Flow hedging 7,980 — (3,382) 4,598 Foreign currency translation differences for foreign operations (180,798) — (14,946) (195,744) Investment in associates and joint ventures (846) — (228) (1,074) Debt financial instruments (1,346,315) — 357,814 (988,501) Subtotal Items that will be reclassified to profit or loss Ps. (557,244) Ps. — Ps. 1,089,263 Ps. 532,019 Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. 4,718 Ps. — Ps. 79 Ps. 4,797 Equity financial instruments (110,397) — (19,376) (129,773) Actuarial gains (losses) from defined benefit pension plans 61,665 — (15,949) 45,716 Subtotal Items that will not be reclassified to profit or loss Ps. (44,014) Ps. — Ps. (35,246) Ps. (79,260) Total “other comprehensive income” during the period Ps. (601,258) Ps. — Ps. 1,054,017 Ps. 452,759 (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference 19.7 Uncertainties in Open Tax Positions As of December 31, 2023, and 2022, Grupo Aval recognized tax uncertainty liabilities for Ps. 3,535 and Ps. 4,307 respectively. Uncertain tax positions corresponding to expenses, considered deductible, and which, according to decisions of the tax authorities, could be considered as non-deductible. The balance as of December 31, 2023 is expected to be used fully or released when the inspection rights of the tax authorities with respect to the open tax returns expire. 19.8 Withholdings tax on dividends paid between entities Decree 1457 of November 12, 2020, regulates the articles 242, 242-1, 245, 26-1 y 895 of Colombian Tax Code. This Decree specifies the rules for the application of the special rate for dividends and participations, together with the procedures for the application of withholding tax (¨WHT"). This WHT at the source is paid by the withholding agent in the period in which it is applied. The WHT on distributions made to entities, which is treated as a tax credit deducted at source when a subsequent |
CUSTOMER DEPOSITS
CUSTOMER DEPOSITS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of customer deposits [abstract] | |
CUSTOMER DEPOSITS | NOTE 20 – CUSTOMER DEPOSITS 20.1 Detail of the composition of the deposits The following is the detail of the balances of the deposits received from Grupo Aval´s customer and subsidiaries in development of their deposit collection operations as of December 31, 2023 and 2022: Detail December 31, 2023 December 31, 2022 Demand Checking accounts Ps. 23,809,859 Ps. 25,932,053 Savings accounts 71,149,883 74,293,894 Other funds on demand 430,194 841,505 95,389,936 101,067,452 Term deposits Fixed term deposit certificates (1) 86,597,460 72,273,697 Total deposits Ps. 181,987,396 Ps. 173,341,149 Per currency In Colombian Pesos Ps. 154,916,985 Ps. 142,071,530 In foreign currency 27,070,411 31,269,619 Total per currency Ps. 181,987,396 Ps. 173,341,149 (1) The amount of term deposits due over 12 months as December 31, 2023 is Ps. 19,732,877 and December 31, 2022 is Ps. 14,702,118 . 20.2 Detail of the effective interest rates The following is a summary of the effective interest rates which are accrued on customer deposits is as follows: December 31, 2023 Deposits In Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.11 % 13.40 % 0.25 % 5.30 % Saving accounts 0.01 % 16.13 % 0.25 % 5.30 % Fixed term deposit certificates 0.05 % 23.52 % 0.45 % 8.46 % December 31, 2022 Deposits In Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.01 % 13.20 % 0.02 % 4.40 % Saving accounts 0.01 % 17.20 % 0.01 % 4.00 % Fixed term deposit certificates 0.05 % 19.54 % 0.15 % 8.05 % 20.3 Detail of the concentration of deposits received from customers per economic sector December 31, 2023 December 31, 2022 Amount % Amount % Financial Ps. 33,873,473 18.6 % Ps. 29,871,901 17.2 % Individuals 32,755,163 18.0 % 36,618,776 21.1 % Government and Colombian Government entities 20,927,670 11.5 % 19,655,737 11.3 % Services 17,303,980 9.5 % 16,143,899 9.3 % Insurance 10,619,085 5.8 % 10,206,023 5.9 % Commerce 10,390,440 5.7 % 10,030,824 5.8 % Real Estate 9,252,682 5.1 % 3,109,595 1.8 % Manufacturing 3,753,556 2.1 % 3,689,037 2.1 % Agriculture and livestock 2,210,914 1.2 % 2,314,989 1.3 % Education 1,794,592 1.0 % 1,438,654 0.8 % Transport 1,523,858 0.8 % 1,849,662 1.1 % Exploitation of mines and quarries 1,071,957 0.6 % 1,700,628 1.0 % Colombian Municipalities 635,410 0.3 % 433,063 0.2 % Artistic, entertainment and recreation activities 316,956 0.2 % 1,035,984 0.6 % Foreign Governments 269,659 0.1 % 425,450 0.2 % Telecommunications 234,786 0.1 % 895,281 0.5 % Tourism 86,661 0.1 % 25 0.1 % Other 34,966,554 19.3 % 33,921,621 19.7 % Total Ps. 181,987,396 100 % Ps. 173,341,149 100 % |
FINANCIAL OBLIGATIONS
FINANCIAL OBLIGATIONS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of deposits from financial obligations [abstract] | |
FINANCIAL OBLIGATIONS | NOTE 21 – FINANCIAL OBLIGATIONS 21.1 Financial obligations other than issued bonds a) Interbank borrowings, overnight funds and borrowings from banks and others The following is a summary of the financial obligations of Grupo Aval as of December 31, 2023 and 2022: December December 31, 2023 31, 2022 Local Currency Interbank funds Overnight funds Ps. 24,539 Ps. 10,049 Interbank funds purchased 671,542 271,843 Commitments to transfer open and closed repo operations 3,746,752 2,221,471 Commitments to transfer simultaneous operations 9,158,585 4,106,145 Commitments originated in short positions simultaneous operations 1,093,314 784,651 Total interbank funds Ps. 14,694,732 Ps. 7,394,159 Borrowings from banks and others Borrowings 3,605,693 3,986,088 Leases contracts 1,793,568 1,566,279 Overdrafts in bank checking account 13 52 Other financial obligations 237,129 237,993 Total borrowings from banks and others Ps. 5,636,403 Ps. 5,790,412 Foreign currency Interbank funds Overnight funds 14,241 7,199 Interbank funds purchased — 450,762 Commitments to transfer open and closed repo operations 372,947 1,162,612 Commitments to transfer simultaneous operations — 73,189 Total interbank funds Ps. 387,188 Ps. 1,693,762 Borrowings from banks and others Borrowings 12,077,906 18,699,150 Leases contracts 998,180 769,665 Letters of credit 1,026,404 1,256,283 Bankers acceptances 2,479,567 3,793,848 Total borrowings from banks and others Ps. 16,582,057 Ps. 24,518,946 Total interbank borrowings, overnight funds and borrowings from banks and others Ps. 37,300,380 Ps. 39,397,279 The amount of interbank borrowings, overnight funds and borrowings from banks and others due over 12 months as of December 31, 2023 was Ps. 11,586,737 and as of December 31, 2022 was Ps. 10,952,395. The amount of obligations under money market transactions, associated with simultaneous and repo operations as of December 31, 2023 is Ps. 9,158,585, which are guaranteed by investments of Ps. 16,874,942; and as of December 31, 2022 is Ps. 4,179,334, which are guaranteed by investments of Ps. 11,091,726. Borrowings from development entities The Colombian Government has established certain credit programs for promoting the development of specific sectors of the economy, including foreign trade, agriculture, tourism, housing construction and other industries. The programs are managed by many entities of the Government such as Banco de Comercio Exterior (“Bancoldex”), Fondo para el Financiamiento del Sector Agropecuario (“Finagro”) and Financiera de Desarrollo Territorial (“Findeter”). The details of the borrowings from these entities as of December 31, 2023, and 2022 and are as follows: Interest rates in force at cut off December 31, 2023 December 31, 2022 Banco de Comercio Exterior - “BANCOLDEX” Fix between 2.19% and 20.96% , DTF + , IBR + Ps. 1,136,527 Ps. 1,632,763 Fondo para el Financiamiento del Sector Agropecuario - “FINAGRO” Fix between 7.30% and 15.69% , DTF + 1,482,091 722,857 Financiera de Desarrollo Territorial “FINDETER” Fix between 9.47% and 19.57%, DTF + 1.00% to 7.92%, IBR + 0.40% to 19.12%, CPI + 0.50% and 7.92% 2,194,515 2,001,655 Total Ps. 4,813,133 Ps. 4,357,275 The amount of borrowings from development entities due over 12 months as of December 31, 2023 was Ps. 4,083,085, and as of December 31, 2022 was Ps. 3,854,907. The amount of financial obligations with development entities in Colombian pesos as of December 31, 2023 is Ps.4,798,022 and as of December 31, 2022 is Ps. 4,241,367; in foreign currency, as of December 31, 2023 is Ps.15,111 and as of December 31, 2022 is Ps.115,908. 21.2 Financial obligations from issued bonds Grupo Aval and some of its subsidiaries have been authorized by the Superintendency of Finance and by the applicable regulatory entities in other jurisdictions to issue either bonds or general guarantee bonds. The bonds issued by Grupo Aval and subsidiaries are non-guaranteed and represent exclusively the obligations of each of the issuers. The detail of issued bonds as of December 31, 2023 and 2022, by issuance date and maturity date was as follows: December December Issuer Issue Date (*) 31, 2023 31, 2022 Maturity Date (*) Interest Rate (*) Local Currency Banco Av. Villas S.A. 23/02/2021 Ps. 296,689 Ps. 361,268 Between 23/02/2024 and 23/02/2026 CPI + 0.71% to 1.36% Banco de Bogotá S.A. Between 24/09/2020 and 10/02/2021 791,579 906,568 Between 10/02/2024 and 10/02/2026 CPI + 1.16%; and Fix Between 3.40% and 4.75% Banco de Occidente S.A Between 09/08/2012 and 20/08/2020 2,121,344 2,269,916 Between 27/04/2024 and 14/12/2032 CPI + 2.37% to 4.65%; and Fix 5.83% Corporación Financiera Colombiana S.A. Between 27/08/2009 and 20/10/2021 3,205,530 3,509,805 Between 27/08/2024 and 19/11/2045 CPI + 1.58% to 5.99%; and Fix Between 3.77% Banco Popular S.A Between 12/10/2016 and 10/03/2022 2,002,987 2,725,242 Between 13/02/2024 and 10/03/2027 CPI + 2.58% to 4.13%; IBR + 1.59% to 2.68% and Fix Between 6.12% and 10.20% Grupo Aval Acciones y Valores S.A. Between 03/12/2009 and 14/11/2019 1,136,702 1,138,143 Between 14/11/2024 and 28/06/2042 CPI + 3.69% to 5.20% and Fix 6.42% Peso denominated Total Ps. 9,554,831 Ps. 10,910,942 Foreign Currency Banco de Bogotá S.A. Under rule 144A. Between 12/05/2016 and 24/03/2023 Ps. 6,750,155 Ps. 9,897,818 Between 12/05/2026 and 24/03/2033 Fix Between 4.38% to 6.25% and SOFR6 3.75% MFH Between 04/02/2020 and 28/12/2023 1,377,782 331,209 Between 12/01/2024 and 28/12/2033 Fix Between 2.50% to 7.25% Banco Bogotá and MFH Total Ps. 8,127,937 Ps. 10,229,027 Grupo Aval Limited 04/02/2020 Ps. 3,834,985 Ps. 4,822,146 04/02/2030 Fix 4.38% December December Issuer Issue Date (*) 31, 2023 31, 2022 Maturity Date (*) Interest Rate (*) Promigas S.A. and Gases del Pacífico S.A.C. Under rule 144A. Between 16/10/2019 and 22/10/2020 1,910,073 2,400,106 Between 16/10/2029 and 22/10/2029 Fix 3.75% Foreign Currency Total Ps. 13,872,995 Ps. 17,451,279 Total of Bonds Ps. 23,427,826 Ps. 28,362,221 (*) The amount of issued bonds due over 12 months as of December 31, 2023 was Ps. 21,664,811 and as of December 31, 2022 was Ps. 24,405,886. Grupo Aval had no defaults on principal or interest payments or other breaches with respect to its liabilities during the years ended December 31, 2023 and 2022, and Grupo Aval is complying with the related covenants agreed with investors and debtors. 21.3 Interest expense The interest expense information as of December 31, 2023, 2022 and 2021 corresponds to: For the twelve-months periods ended December 31, 2023 2022 2021 Interest expense Deposits Checking accounts Ps. (253,043) Ps. (159,114) Ps. (62,378) Savings accounts (5,953,426) (3,555,844) (875,439) Time deposits (9,944,424) (4,040,232) (1,700,128) Interest of the derivative designated as the hedging instrument (*) (63,333) (1,242) — Total (16,214,226) (7,756,432) (2,637,945) Financial obligations Interbank borrowings and overnight funds Ps. (1,856,263) Ps. (678,114) Ps. (162,455) Borrowings from banks and similar (1,601,927) (739,803) (401,742) Leases contracts (208,781) (147,330) — Bonds issued (2,159,948) (2,092,843) (1,368,660) Borrowing from development entities (591,285) (249,873) (90,028) Total (6,418,204) (3,907,963) (2,022,885) Total interest expense Ps. (22,632,430) Ps. (11,664,395) Ps. (4,660,830) (*) Corresponds to the coverage of interest expense for Term Certificates of Deposit "CDTs" over 12 months. 21.4 Analysis of changes in financing during the year Reconciliation of movements of liabilities to cash flows arising from financing activities: Liabilities Equity Total Notes Dividends payable Bonds issued Leases contracts Subscribed and paid-in capital Additional paid-in capital Appropriated retained earnings Non-controlling interest Balance at December 31, 2020 Ps. 648,874 Ps. 27,760,797 Ps. 3,025,733 Ps. 22,281 Ps. 8,470,870 Ps. 11,302,134 Ps. 14,782,259 Ps. 66,012,948 Cash flows from financing activities: Dividends paid to shareholders (1,230,841) — — — — — - (1,230,841) Dividends paid to non-controlling interest 26 (913,356) — — — — — - (913,356) Issuance of debt securities — 2,932,471 — — — — - 2,932,471 Interest issuance of debt securities — (1,191) — — — — - (1,191) Payment of outstanding debt securities — (1,631,318) — — — — - (1,631,318) Leases contracts — — (472,084) — — — - (472,084) Redemption of preferred shares — — — — — — (29,751) (29,751) Equity transaction — — — — — — 120 120 Net cash used in financing activities (2,144,197) 1,299,962 (472,084) — — — (29,631) (1,345,950) Cash flows from operating activities: Accrued interest — 1,631,055 173,214 — — — - 1,804,269 Interest paid — (1,590,137) (168,966) — — — - (1,759,103) Other Changes 2,093,857 3,156,256 324,260 — — (1,203,000) (823,551) 3,547,822 Total liabilities related to other changes 2,093,857 3,197,174 328,508 — — (1,203,000) (823,551) 3,592,988 Total equity related to other changes — — — — 19,929 3,284,253 2,528,917 5,833,099 Balance at December 31, 2021 Ps. 598,534 Ps. 32,257,933 Ps. 2,882,157 Ps. 22,281 Ps. 8,490,799 Ps. 13,383,387 Ps. 16,457,994 Ps. 74,093,085 Cash flows from financing activities: Dividends paid to shareholders (414,267) — — — — — - (414,267) Dividends paid to non-controlling interest 26 (615,177) — — — — — - (615,177) Issuance of debt securities — 695,136 — — — — - 695,136 Payment of outstanding debt securities — (7,837,898) — — — — - (7,837,898) Leases contracts — — (383,472) — — — - (383,472) Equity transaction — — — — 7,280 — (22,294) (15,014) Net cash used in financing activities (1,029,444) (7,142,762) (383,472) — 7,280 — (22,294) (8,570,692) Cash flows from operating activities: Accrued interest — 2,147,935 148,806 — — — - 2,296,741 Interest paid — (2,109,636) (146,275) — — — - (2,255,911) Other Changes 651,725 3,208,751 (165,272) 1,463 1,082,307 (1,193,728) (542,353) 3,042,893 Total liabilities related to other changes 651,725 3,247,050 (162,741) 1,463 1,082,307 (1,193,728) (542,353) 3,083,723 Total equity related to other changes — — — — (9,012) (4,171,242) (1,538,658) (5,718,912) Balance at December 31, 2022 Ps. 220,815 Ps. 28,362,221 Ps. 2,335,944 Ps. 23,744 Ps. 9,571,374 Ps. 8,018,417 Ps. 14,354,689 Ps. 62,887,204 Cash flows from financing activities: Dividends paid to shareholders (766,537) — — — — — - (766,537) Dividends paid to non-controlling interest 26 (915,933) — — — — — - (915,933) Issuance of debt securities — 2,609,994 — — — — - 2,609,994 Payment of outstanding debt securities — (4,072,742) — — — — - (4,072,742) Leases contracts — — (391,667) — — — - (391,667) Net cash used in financing activities (1,682,470) (1,462,748) (391,667) — — — - (3,536,885) Cash flows from operating activities: Accrued interest — 2,212,345 210,041 — — — - 2,422,386 Interest paid — (2,171,231) (202,551) — — — - (2,373,782) Other Changes 1,989,639 (3,512,761) 839,981 — — (982,868) (1,006,721) (2,672,730) Total liabilities related to other changes 1,989,639 (3,471,647) 847,471 — — (982,868) (1,006,721) (2,624,126) Total equity related to other changes — — — — — 696,224 1,389,776 2,086,000 Balance at December 31, 2023 Ps. 527,984 Ps. 23,427,826 Ps. 2,791,748 Ps. 23,744 Ps. 9,571,374 Ps. 7,731,773 Ps. 14,737,744 Ps. 58,812,193 |
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of defined benefit plans [abstract] | |
EMPLOYEE BENEFITS | NOTE 22 – EMPLOYEE BENEFITS In accordance with labor legislation in the countries in which Grupo Aval operates, and based on labor conventions and collective bargaining agreements signed between Grupo Aval’s subsidiaries and their employees, employees have short term benefits (including but not limited to salaries, holidays, legal and extralegal premiums, interests on severances and defined contribution plans such as severances), long-term benefits (including but not limited to seniority bonuses), post-employment benefits (including but not limited to medical aids) and retirement benefits (including but not limited to severance payments to employees in Colombia who continue with labor regime before Law 50 of 1990 and legal and extralegal retirement pensions). Compensation of key management personnel (see note 34) includes salaries. Through personnel benefits plans, Grupo Aval is exposed to several risks (interest rates), which are intended to be minimized by applying the risk management policies and procedures defined under Note 4. The detail of the balance of liabilities for employee benefits as of December 31, 2023, and 2022 is as follows: December 31, 2023 December 31, 2022 Short term Ps. 385,296 Ps. 425,523 Post-employment 380,207 349,587 Long term 159,329 133,085 Total Ps. 924,832 Ps. 908,195 Plan Asset Ps. (17,024) Ps. (18,176) Net employee benefits Ps. 907,808 Ps. 890,019 22.1 Post-employment benefits In Colombia, when employees retire after completing certain thresholds of years and time of service, retirement pensions are assumed by public or private pension funds based on defined contribution plans. Entities and employees contribute monthly defined amounts by law to gain entitlement to a pension at the time of retirement. Unlike in Central America, in Colombia according to prior labor regimes, post-employment benefits for employees hired before (i) 1968 require pensions to be directly assumed the company for those employees that have fulfilled the requirements of age and years of service and (ii) 1990 entitle employees to receive a compensation equivalent to the last month of salary multiplied by each year of service. Some subsidiaries have labor conventions or pay extra-legal premiums to employees retiring in compliance with the required age and time of service, when they start enjoying the pension granted by the pension funds. Some retirees of Grupo Aval and its subsidiaries receive benefits including coverage of medical treatments. As of December 31, 2023 and 2022, the post-employment benefit expense is composed of: December 31, 2023 December 31, 2022 Defined contribution plan Ps. 108,059 Ps. 101,862 Defined benefit plan 44,426 34,623 Total Ps. 152,485 Ps. 136,485 22.2 Long Term Employee Benefits Some Grupo Aval subsidiaries grant their employees extra-legal long-term premiums during their working lives per every five years of service that they complete, calculated as days of salary per year of work. Grupo Aval has recognized the liabilities corresponding to these benefits, based on the same actuarial calculations and using the same parameters as in retirement benefits. The following table shows the Post-employment and long-term benefits movements during the years ended on December 31, 2023, 2022 and 2021 are as follows: Post-employment benefits Long-term benefits December December December December December December 31, 2023 31, 2022 31, 2021 31, 2023 31, 2022 31, 2021 Balance at the beginning of the year Ps. 349,587 Ps. 522,196 Ps. 597,936 Ps. 133,085 Ps. 134,831 Ps. 180,090 Service costs 2,690 3,845 2,749 14,765 14,815 18,454 Interests cost 41,736 30,778 30,705 16,699 8,949 7,982 Gain on settlements — — 278 — — — Past Service Costs (1) (2,079) — — 10,063 — (28,009) Ps. 391,934 Ps. 556,819 Ps. 631,668 Ps. 174,612 Ps. 158,595 Ps. 178,517 Changes in actuarial assumptions from changes in demographic assumptions (753) — (15) (7,342) — (86) Changes in actuarial assumptions from changes in financial assumptions 26,832 (69,967) (54,996) 473 (14,149) (19,976) Changes in actuarial assumptions from changes in the experience 27,472 2,167 (21,264) 17,313 10,456 (2,893) Ps. 53,551 Ps. (67,800) Ps. (76,275) Ps. 10,444 Ps. (3,693) Ps. (22,955) Payments to employees (61,589) (51,306) (51,591) (25,727) (21,817) (20,731) Liquidation of entities — (432) — — — — Reclassification BAC (2)(3) — — (1,002) — — — Loss of control in subsidiary (2) — (98,024) — — — — Discontinued operations (2) — 6,251 15,125 — — — Effect of movements in exchange rates (3,689) 4,079 4,271 — — — Liability balance at the end of the year Ps. 380,207 Ps. 349,587 Ps. 522,196 Ps. 159,329 Ps. 133,085 Ps. 134,831 Plan Assets Balance at the beginning of the year plan assets Ps. (18,176) Ps. (46,840) Ps. (38,241) Ps. — Ps. — Ps. — Interests income (794) (427) (522) — — — Remeasurements on plan assets (1,788) 5,885 (1,676) — — — Reclassification BAC (2)(3) — — (3,189) — — — Loss of control in subsidiary (2) — 27,269 — — — — Discontinued operations (2) — — (798) — — — Effect of movements in exchange rates 3,734 (4,063) (2,414) — — — Balance at the end of the year plan assets Ps. (17,024) Ps. (18,176) Ps. (46,840) Ps. — Ps. — Ps. — Net Balance at the end of the year Ps. 363,183 Ps. 331,411 Ps. 475,356 Ps. 159,329 Ps. 133,085 Ps. 134,831 (1) For 2023, in post-employment, the variation includes of a change in the institutional retirement bonus plan for Banco de Occidente and in the long term includes the update of the convention for in a long-term institutional benefit plan at Banco de Bogotá. For 2021, includes the effect of a change in a long-term institutional benefit plan at Banco de Occidente and Fiduciaria de Occidente. (2) See note 1.1., "Discontinued operation of BAC Holding". (3) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. The assumptions used to calculate the obligation projected for different post-employment benefits employees are as follows: December 31, December 31, Post-employment benefits * 2023 2022 Discount interest rate 11.34 % 13.27 % Inflation rate 2.96 % 3.00 % Salary growth rate 3.80 % 3.58 % Pension growth rate 3.00 % 3.00 % * Entities in Colombia and subsidiaries abroad participate. December 31, December 31, Long-term benefits * 2023 2022 Discount interest rate 11.40 % 13.72 % Inflation rate 3.00 % 3.00 % Salary growth rate 4.27 % 4.00 % * Only entities from Colombia participate. Employee turnover is calculated based on the experience of each entity. For those entities where a sufficiently long statistic history is not yet available to support the actuarial bases, the SoA2003 table is used as a reference. With this table, the probability of permanence of personnel in the entity is established, modified according to the population factor of each benefit. Employee´s life expectancy is calculated based on the mortality tables RV08 (Colombia) and GA83 (Central America). The sensitivity analysis for post-employment and long-term benefits liabilities due to defined benefits plans to different actuarial and financial variables is shown below, maintaining other variables at constant values (increase or decrease 50 basis points): -0.50 basic points +0.50 basic points At December 31, 2023 Post-employment benefits Long-term benefits Post-employment benefits Long-term benefits Discount interest rate Ps. 10,764 Ps. 3,050 Ps. (10,227) Ps. (2,919) Salaries growth rate (1,756) (3,819) 2,353 3,589 Retirement growth rate (10,443) N/A 10,979 N/A -0.50 basic points +0.50 basic points At December 31, 2022 Post-employment benefits Long-term benefits Post-employment benefits Long-term benefits Discount interest rate Ps. 8,242 Ps. 2,414 Ps. (7,920) Ps. (2,317) Salaries growth rate (1,621) (2,991) 1,671 3,101 Retirement growth rate (7,191) N/A 3,589 N/A The following table reveals he cash flows required for payment of post–employment and long-term benefits: Payments for post- Payments for long- Year employment term benefits 2024 Ps. 57,922 Ps. 31,798 2025 58,572 27,668 2026 57,227 22,014 2027 54,944 22,121 2028 53,979 19,934 Years 2029 – 2033 243,179 79,389 Total Ps. 525,823 Ps. 202,924 As of December 31, 2023, the average duration of post-employment benefit plans is 5.52 years ( 4.62 years for 2022) and for the long-term it is 3.75 years ( 3.56 years for 2022). |
LEGAL RELATED AND NON LEGAL REL
LEGAL RELATED AND NON LEGAL RELATED PROVISIONS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of legal-related and non legal-related provision [abstract] | |
LEGAL RELATED AND NON LEGAL RELATED PROVISIONS | NOTE 23 – LEGAL RELATED AND NON-LEGAL RELATED PROVISIONS The movement and balances of legal and non-legal related provisions during the periods ended on December 31, 2023, 2022 and 2021 are described below: For legal Non-legal Total provisions Balance as of January 1, 2021 Ps. 241,774 Ps. 671,076 Ps. 912,850 Provisions made during the year 196,452 410,810 607,262 Provisions used during the year (72,892) (47,426) (120,318) Provisions reversed during the year (118,865) (146,599) (265,464) Effect of movements in exchange rates 503 7,649 8,152 Reclassification BAC (9,749) 3,382 (6,367) Discontinued operations 10,306 3,840 14,146 Balance as of December 31, 2021 Ps. 247,529 Ps. 902,732 Ps. 1,150,261 Provisions made during the year 183,294 380,005 563,299 Provisions used during the year (44,895) (200,406) (245,301) Provisions reversed during the year (1) (155,475) (62,180) (217,655) Effect of movements in exchange rates 370 17,810 18,180 Reclassification BAC (2,047) (40,193) (42,240) Discontinued operations 417 210 627 Balance as of December 31, 2022 Ps. 229,193 Ps. 997,978 Ps. 1,227,171 Provisions made during the year 298,719 334,974 633,693 Provisions used during the year (51,160) (338,536) (389,696) Provisions reversed during the year (1) (258,421) (110,419) (368,840) Effect of movements in exchange rates (642) (18,403) (19,045) Balance as of December 31, 2023 Ps. 217,689 Ps. 865,594 Ps. 1,083,283 (1) For legal related, recovery of provisions by Porvenir as of December 31, 2023 and 2022 by Ps. 241,431 and Ps. 149,598 respectively for claims for nullity of affiliations that were in progress. The estimated period for the cancellation of the provisions recorded as of December 31,2023 and 2022 is a follows. Estimated period to be canceled Legal provisions Non-legal Total provisions Within twelve months Ps. 8,283 Ps. 173,692 Ps. 181,975 After twelve months 209,406 691,902 901,308 Balance as of December 31, 2023 Ps. 217,689 Ps. 865,594 Ps. 1,083,283 Estimated period to be canceled Legal provisions Non-legal Total provisions Within twelve months Ps. 9,449 Ps. 363,888 Ps. 373,337 After twelve months 219,744 634,090 853,834 Balance as of December 31, 2022 Ps. 229,193 Ps. 997,978 Ps. 1,227,171 Legal related: Administrative proceedings At December 31, 2023 and 2022, the outstanding balance of provisions recorded for administrative proceedings were Ps. 29,207 and Ps. 26,476 respectively, by way of claims for administrative or judicial processes of a tax nature other than income tax and other processes, initiated by national and local authorities that establish, in some cases sanctions in which the subsidiaries of Grupo Aval would incur. Labor proceedings At December 31, 2023 and 2022, the outstanding balance of provisions recorded for labor proceedings were Ps. 28,138 and Ps. 29,592 respectively. Labor proceedings include labor pursuits, indemnities for former employees against some subsidiaries of Grupo Aval. The time expected for resolution is uncertain since each proceeding is based on different instances. Other proceedings At December 31, 2023 and 2022, the outstanding balance of other legal provisions recorded were Ps. 160,344 and Ps. 173,125, respectively, being the most representative: ● Provisions made to cover claims for cancellation of affiliations and transfer of regime, old-age pensions, requests to Porvenir, old age disability and survival pensions which amounted to Ps. 152,017 and Ps. 144,038 , respectively. Non-legal related: At December 31, 2023 and 2022 the outstanding balance of non-legal related provisions recorded amounting were Ps. 865,594 and Ps. 997,978, respectively, are mainly comprised by: ● Provisions in Corficolombiana´s affiliates as of December 31, 2023 and 2022, associated with the maintenance, restoration and rehabilitation relating to development of concession contracts of Ps. 310,044 and Ps. 339,191 respectively. ● Provisions in Porvenir´s subsidiary as of December 31, 2023, and 2022, where the main balance corresponds to undercapitalized accounts, these are individual pension accounts called "Fondo de Pensiones Obligatorias Especial Porvenir de Retiro Programado", which according to actuarial projections do not have the required balance to achieve minimum pension payment, and thus have to be provisioned for the expected difference of Ps. 283,568 and Ps. 289,381 respectively. ● Provisions for losses on loan commitments as of December 31 2023 and 2022, of Ps. 70,268 and Ps. 64,910 respectively. (See note 4.1.5) Loan commitments and financial guarantee contracts. ● Provision in Proinvipacífico, a Corficolombiana´s subsidiary as of December 31, 2023 and 2022 for the recognition of additional costs on the Pacífico 1 project of Ps. 42,358 and Ps. 55,933 respectively. ● Provisions of several subsidiaries of Grupo Aval as of December 31,2023 and 2022, corresponding to the dismantling of ATMs and offices of Ps. 75,808 and Ps. 59,002 , respectively. |
OTHER LIABILITIES
OTHER LIABILITIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of accounts payable and other liabilities [abstract] | |
OTHER LIABILITIES | NOTE 24 – OTHER LIABILITIES Other liabilities of December 31, 2023 and 2022 comprise the following: Other liabilities December 31, 2023 December 31, 2022 Suppliers and services payable Ps. 3,474,177 Ps. 2,803,736 Income received for third parties 3,399,759 3,039,484 Transactions ATH and ACH (1) 939,341 749,578 Withholdings taxes and labor contributions 703,380 611,951 Cashier checks 655,854 646,688 Contract liability related to concessions 530,300 515,688 Dividends payable 527,984 220,815 Commissions and fees 411,478 399,895 Collection on behalf of third parties 334,963 266,462 Cash surplus 133,774 69,291 Insurance payables 117,371 111,081 Collection service 106,089 101,615 Value added tax - VAT 75,098 59,599 Checks drawn and not paid 70,791 88,128 Financial transactions tax 52,106 52,787 Canceled accounts 34,782 34,645 Anticipated income 17,566 18,001 Customer loyalty programs 14,784 14,009 Other liabilities 354,843 338,349 Total other liabilities Ps. 11,954,440 Ps. 10,141,802 (1) A Toda Hora S.A. – ATH y ACH Colombia S.A. are entities that administer low-value payment systems that are in charge of supporting entities for clearing transactions that are carried out through electronic channels. Other liabilities December 31, 2023 December 31, 2022 Liabilities to be canceled within twelve months 8,800,905 8,043,321 Liabilities to be canceled after twelve months 3,153,535 2,098,481 Total Ps. 11,954,440 Ps. 10,141,802 |
EQUITY ATTRIBUTABLE TO OWNERS O
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT | NOTE 25 – EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT Authorized, issued and outstanding shares as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 December 31, 2022 Authorized shares 120,000,000,000 120,000,000,000 Subscribed fully paid shares 23,743,475,754 22,281,017,159 Total outstanding shares 23,743,475,754 22,281,017,159 Issuance of shares (1) - 1,462,458,595 Total outstanding shares 23,743,475,754 23,743,475,754 Issuance of shares — 1,462,458,595 Subscribed and paid-in capital Ps. — Ps. 1,463 Additional paid-in capital — 1,082,307 Issuance of shares (2) Ps. — Ps. 1,083,770 The outstanding shares are as follows: December 31, 2023 December 31, 2022 Common voting shares (3) 16,201,712,499 16,204,145,980 Preferred non-voting shares (4) 7,541,763,255 7,539,329,774 (1) Issuance of shares for dividend distribution. (2) These shares were issued at Ps. 741.06 pesos per share, recognizing Ps. 1 peso in capital stock and Ps. 740.06 pesos in Additional paid-in capital. (3) Common Voting shares with a nominal value of (Ps. 1 ) Colombian peso. (4) Since 2011, Grupo Aval allows its shareholders to convert their common shares into preferred shares. For the years ended December 31, 2023 and 2022, 2,433,481 and 2,515,570 common shares were converted into preferred shares, respectively. Preferred shares have the right to receive a preferential minimum dividend of one Colombian peso (Ps. 1 ) per semester per share. This preferential minimum dividend is only applicable when dividends declared for common shares are less than one Colombian peso (Ps. 1 ). Preferential minimum dividends are not cumulative. 25.1 Appropriated retained earnings As of December 31, 2023, and 2022 the appropriation of retained earnings is as follows: December 31, 2023 December 31, 2022 Retained earnings (1) Ps. 525,153 Ps. (4,784,817) Accumulated withholding tax over dividends (26,135) (25,824) Legal reserve 11,872 11,872 Statutory and voluntary reserves 7,220,883 12,817,186 Ps. 7,731,773 Ps. 8,018,417 (1) See note 1.1., "Discontinued operation of BAC Holding". 25.1.1 Legal Reserve In accordance with current legal regulations, Grupo Aval and its subsidiaries in Colombia shall create a legal reserve through the appropriation of (10%) of the net profits of each year up to an amount equal to (50%) of the subscribed capital stock. This reserve may be reduced below (50%) of the subscribed capital stock to stem losses in excess of retained earnings. The legal reserve cannot be less than the percentage aforementioned except to cover losses in excess of retained earnings. 25.1.2 Statutory and Voluntary Reserves The statutory and voluntary reserves are determined during the Shareholders Meetings. 25.2 Declared Dividends The dividends are declared and paid to shareholders based on unconsolidated net income under Colombian IFRS (NCIF), the dividends declared were as follows: December 31, 2023 December 31, 2022 December 31, 2021 Net income for the periods ended in Ps. 2,541,179 Ps. 3,502,758 Ps. 2,399,001 Declared dividends In the general assembly held in March 2023, 43.20 pesos per share payable in twelve installments of 3.60 pesos per share, from April 2023 to March 2024. In the general assembly held in March 2022, A stock dividend at the rate of $54 per share on the 22,281,017,159 common and preferred shares outstanding as of December 31, 2021. These dividends will be paid in shares, at the rate of 1 share for every 13.72333 common or preferred shares, as of December 31, 2021. The payment of the shares will be made on May 31, 2022, to whoever is entitled to it at the time the payment becomes due in accordance with current regulations. For this purpose, up to a total of 1,623,586,385 new shares of the same species held by the shareholder will be issued. The unit value of the shares will be 741.06 . In the general assembly held in March 2021, 54.00 pesos per share payable in twelve installments of 4.50 pesos per share, from April 2021 to March 2022. Total outstanding shares 23,743,475,754 22,281,017,159 22,281,017,159 Total declared dividends (*) Ps. 1,025,718 Ps. 1,203,175 Ps. 1,203,175 (*) 25.3 Earnings per share ● Basic earnings per share Grupo Aval calculates basic earnings per share by dividing net income for the year attributable to controlling interest of Grupo Aval parent company by the weighted average number of shares outstanding during the year (including common and preferred shares). The following table summarizes the earnings per share for the year ended as of December 31, 2023, 2022 and 2021: December 31, 2023 December 31, 2022 December 31, 2021 Net income for the year Ps. 2,177,116 Ps. 4,869,133 Ps. 5,668,502 Less: participation of non- controlling interests (1,438,113) (2,386,248) (2,370,766) Net income attributable to owners of the parent 739,003 2,482,885 3,297,736 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (234,727) (791,989) (1,058,554) Net Income allocated to common shareholders for basic and diluted EPS Ps. 504,276 Ps. 1,690,896 Ps. 2,239,182 Weighted average number of common shares outstanding used in basic EPS calculation (2) 16,202,376,163 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos ) 31.12 107.29 148.01 Basic and Diluted earnings per ADS (3) 622.47 2,145.74 2,960 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,743,475,754 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 31.12 107.29 148.01 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. The following table summarizes earnings per share over net income from continuing operations for the years ended December 31, 2023, 2022 and 2021. December 31, 2023 December 31, 2022 December 31, 2021 Net income from continuing operations Ps. 2,177,116 Ps. 4,002,967 Ps. 4,041,190 Less: participation of non- controlling interests (1,438,113) (2,114,072) (1,862,010) Net income attributable to owners of the parent 739,003 1,888,895 2,179,180 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (234,727) (602,519) (699,504) Net Income allocated to common shareholders for basic and diluted EPS Ps. 504,276 Ps. 1,286,376 Ps. 1,479,676 Weighted average number of common shares outstanding used in basic EPS calculation (2) 16,202,376,163 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos) 31.12 81.62 97.80 Basic and Diluted earnings per ADS (3) 622.47 1,632.41 1,956.09 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,743,475,754 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 31.12 81.62 97.80 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. The following table summarizes earnings per share over net income from discontinued operations for the years ended December 31, 2022 and 2021. December 31, 2022 December 31, 2021 Net income from continuing operations Ps. Ps. 866,166 Ps. 1,627,312 Less: participation of non- controlling interests (272,176) (508,756) Net income attributable to owners of the parent 593,990 1,118,556 Less: preferred dividends declared — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (189,470) (359,050) Net Income allocated to common shareholders for basic and diluted EPS Ps. Ps. 404,520 Ps. 759,506 Weighted average number of common shares outstanding used in basic EPS calculation (2) 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos) 25.67 50.20 Basic and Diluted earnings per ADS (3) 513.33 1,004.04 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 25.67 50.20 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. ● Diluted earnings per share On December 31, 2023, 2022 and 2021, Grupo Aval did not have any dilutive instruments. 25.4 Equity transactions On December 31, 2023 Corficolombiana liquid investments by Ps. 15,091. On December 31, 2022 some transactions took place which resulted in changes to the ownership interests of Grupo Aval and its subsidiaries, below is the detail of the most significant equity transactions: The equity effect for Ps. 15,091, is given by the distribution of dividends from Banco de Bogotá and Corficolombiana, since Grupo Aval and its subsidiaries received dividends in shares, unlike some minority shareholders who opted to change the payment of dividends in shares for that of dividends in cash , generating a modification in the participation of Grupo Aval at the consolidated level, going from a participation of 68.74% to 68.93% in Banco de Bogotá and from 39.98% to 40.40% in Corficolombiana. Additionally, shares were purchased in Corficolombiana going from a 40.40% stake to 40.53%. On December 31, 2021 some transactions took place that resulted in changes to the interests of Grupo Aval and its subsidiaries, below is the detail of the most significant equity transactions: ● Corporación Financiera Colombiana S.A. - Corficolombiana S.A. In Corficolombiana, Grupo Aval and its subsidiaries chose to receive dividends in shares, unlike some minority shareholders who opted to be paid dividends in cash, generating a dilution effect for Ps. 19,929, which led to a modification in Grupo Aval's stake from 39.58% to 39.98%. ● Preference shares There was payment of dividends Ps. 14,612 corresponding to the preferred shares issued by Multi Financial Group. 25.5 Consolidated Other Comprehensive Income (OCI): Components of accumulated Other Comprehensive Income for the years ended December 31, 2023, 2022 and 2021 are as follows: Net gain (loss) on hedges of net investment in foreign operations Cash flow hedges Foreign currency translation differences from unhedged foreign operations Effect of moving investment properties for own use Unrealized gains (losses) debt securities Unrealized gains (losses) Equity securities Investments in associates and join ventures Actuarial gains(losses) Income tax Total comprehensive income, net of taxes Ending balance 2020 Ps. (727,703) Ps. (42) Ps. (886,783) Ps. 14,302 Ps. 560,584 Ps. 915,935 Ps. 115,344 Ps. (185,154) Ps. 1,914,708 Ps. 1,721,191 Current-period change 962,735 7,980 (180,798) 4,718 (1,346,315) (110,397) (846) 61,665 1,054,017 452,759 Ending balance 2021 Ps. 235,032 Ps. 7,938 Ps. (1,067,581) Ps. 19,020 Ps. (785,731) Ps. 805,538 Ps. 114,498 Ps. (123,489) Ps. 2,968,725 Ps. 2,173,950 Current-period change (266,716) (2,396) 90,619 461 (2,088,548) (439,150) 66,366 95,819 809,995 (1,733,550) Realization of OCI to P&L of discontinued operation (1) 192,707 — 1,265,594 — (98,947) — 15,364 — (2,804,043) (1,429,325) Ending balance 2022 Ps. 161,023 Ps. 5,542 Ps. 288,632 Ps. 19,481 Ps. (2,973,226) Ps. 366,388 Ps. 196,228 Ps. (27,670) Ps. 974,677 Ps. (988,925) Current-period change (36,517) (47,793) (409,671) 557 1,898,441 151,517 (35,892) (51,763) (813,708) 655,171 Realization of OCI — 11,870 — (2,520) (102,775) 4,866 — (4,561) 476 (92,644) Ending balance 2023 Ps. 124,506 Ps. (30,381) Ps. (121,039) Ps. 17,518 Ps. (1,177,560) Ps. 522,771 Ps. 160,336 Ps. (83,994) Ps. 161,445 Ps. (426,398) Non -controlling interest Owners of the parent Total comprehensive income, net of taxes Beginning balance 2020 Ps. 859,178 Ps. 862,013 Ps. 1,721,191 Current-period change 197,590 255,169 452,759 Ending balance 2021 Ps. 1,056,768 Ps. 1,117,182 Ps. 2,173,950 Current-period change (452,982) (1,280,568) (1,733,550) Realization of OCI to P&L of discontinued operation (1) (446,146) (983,179) (1,429,325) Ending balance 2022 Ps. 157,640 Ps. (1,146,565) Ps. (988,925) Current-period change (6,447) 661,618 655,171 Realization of OCI (33,372) (59,272) (92,644) Ending balance 2023 Ps. 117,821 Ps. (544,219) Ps. (426,398) (1) |
NON-CONTROLLING INTEREST
NON-CONTROLLING INTEREST | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of noncontrolling interest [Abstract] | |
NON-CONTROLLING INTEREST | NOTE 26 - NON- CONTROLLING INTEREST The following table includes information regarding the non-controlling interest of each direct and indirect subsidiary of Grupo Aval at December 31, 2023 and 2022: December 31, 2023 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 59.47% Ps. 9,835,593 Ps. 1,166,399 Ps. (555,084) Banco Bogotá S.A. Colombia 31.07% 2,395,427 138,297 (256,413) Banco de Occidente S.A. Colombia 27.73% 1,296,543 73,902 (61,931) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Colombia 24.24% 689,306 132,805 (128) Banco Comercial AV Villas S.A. Colombia 20.13% 328,655 (47,625) (4,673) Banco Popular S.A. Colombia 6.26% 192,220 (25,665) (37,704) Total Ps. 14,737,744 Ps. 1,438,113 Ps. (915,933) December 31, 2022 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 59.47% Ps. 9,347,843 Ps. 1,604,142 Ps. (427,370) Banco Bogotá S.A. Colombia 31.07% 2,602,543 628,214 (121,337) Banco de Occidente S.A. Colombia 27.73% 1,234,275 96,441 (44,202) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Colombia 24.24% 603,288 36,527 (3) Banco Comercial AV Villas S.A. Colombia 20.13% 349,487 21,765 (16,225) Banco Popular S.A. Colombia 6.26% 217,253 (841) (6,040) Total Ps. 14,354,689 Ps. 2,386,248 Ps. (615,177) The following table includes information regarding each direct and indirect subsidiary of Grupo Aval that has significant non-controlling interests to December 31, 2023, and 2022(before eliminations): December 31, 2023 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI - Controlling operating activities Corporación Financiera Colombiana S.A. Ps. 57,281,194 Ps. 41,759,075 Ps. 21,924,701 Ps. 1,530,167 Ps. 518,906 Ps. 462,627 Banco Bogotá S.A. 137,474,034 121,705,013 7,426,045 968,934 (470,967) 4,939,701 Banco de Occidente S.A. 68,601,785 62,913,703 3,751,270 479,557 (70,255) 1,527,081 Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 3,571,979 700,357 1,184,591 560,210 (14,502) 189,272 Banco Comercial AV Villas S.A. 18,913,324 17,171,402 1,144,236 (241,004) 34,174 (382,392) Banco Popular S.A. Ps. 85,370,710 Ps. 67,656,734 Ps. 39,314,924 Ps. (184,616) Ps. 21,218 Ps. 126,336 December 31, 2022 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI - Controlling operating activities Corporación Financiera Colombiana S.A. Ps. 54,030,318 Ps. 39,158,937 Ps. 13,466,165 Ps. 2,301,398 Ps. 355,507 Ps. 1,607,158 Banco Bogotá S.A. 137,873,838 122,063,279 12,767,867 2,806,268 (586,923) (3,276,271) Banco de Occidente S.A. 60,004,409 54,788,335 5,799,384 456,343 (311,542) (1,676,363) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 3,522,732 1,056,580 972,508 155,194 (60,646) 33,365 Banco Comercial AV Villas S.A. 19,648,282 17,801,302 2,062,719 103,774 (102,613) 274,563 Banco Popular S.A. Ps. 32,667,378 Ps. 29,449,526 Ps. 3,406,454 Ps. 79,994 Ps. (80,101) Ps. (51,186) |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of commitments and contingencies [abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 27 – COMMITMENTS AND CONTINGENCIES Capital expenses commitments As of December 31, 2023, and 2022 Grupo Aval and its subsidiaries had contractual disbursement commitments of capital expenditures, for tangible assets for Ps. 11,205 and Ps. 18,118, respectively; and for intangible assets for Ps. 45,043 and Ps. 45,186 respectively. Contingencies As of December 31, 2023, and 2022, Grupo Aval and its subsidiaries were part of administrative and legal proceedings as defendants; whose expected resolution time is uncertain due to the fact that each process is at different stages. The claims of proceedings were assessed based on analyses and opinions of seasoned lawyers for Ps. 798,290 and Ps.755,656 respectively in the following legal contingencies were determined: Labor Proceedings As of December 31, 2023, and 2022, the outstanding balances recognized for labor complaints amounted to Ps. 124,012 and Ps. 123,603 respectively. Historically, many of these proceedings have been resolved in favor of Grupo Aval and its subsidiaries. Civil Proceedings As of December 31, 2023, and 2022, the result of the assessment of claims for civil suits, not including those with remote probability, reached outstanding balances recognized of Ps. 344,152 and Ps. 273,795 respectively. Administrative, Tax Proceedings and Other Proceedings Claims derived from administrative and judicial processes include those of fiscal responsibility over concession contracts, tax proceedings and other, filed by national and local tax authorities. These authorities may establish, in some cases, sanctions in which Grupo Aval and its subsidiaries may incur as a result of: (i) the performance of their duty as a withholder or collector of national and local taxes, and/or (ii) the obligation to pay a higher tax amount in their condition of taxpayers. As of December 31, 2023, the outstanding balances recognized for these claims amounted to Ps.330,126. As of December 31, 2022, these amounted to Ps. 358,258. Other matters The following are processes that, although they have been resolved to date, were reported during the year 2023, for which reason a summary of the same and its conclusions are made. Class Action before the Administrative Tribune of Cundinamarca in connection with the Ruta del Sol Sector 2 Project On January 26, 2017, the Inspector-General’s Office (Procuraduría General de la Nación or “PGN”) filed a class action against CRDS, (a company formed by Constructora Norberto Odebrecht S.A., Odebrecht Investimentos em Infraestructura Ltda., CSS Constructores S.A. and Episol), the National Infrastructure Agency ("ANI") and its members, seeking a declaration of violation of the collective rights of administrative morality, defense of public assets and access to public services, in connection with the Ruta del Sol Sector 2 project. On December 6, 2018, the Administrative Tribunal of Cundinamarca (“TAC”), the body presiding over the class action, issued a first instance ruling against CRDS, and all its shareholders, including Episol, and other individuals and entities. The TAC found the defendants jointly and severally liable for the damages caused to the collective interests and ordered the payment of Ps. 800,156 to the Colombian Ministry of Transportation. The TAC also debarred the defendants for a term of ten years, during which time they would be prohibited from contracting with the Colombian government and holding public office. Subsequently, in an order dated February 8, 2019, the TAC corrected certain arithmetical errors in its ruling, and reduced the amount of the fine to Ps. 715,656. The aforementioned ruling was appealed by Episol and the other defendants. In the case of Episol, its appeal filing sought revocation of the TAC’s first instance ruling against it on the basis of multiple substantive and procedural defects. On July 27, 2023, the Consejo de Estado issued a second instance decision confirming in general terms the violation of certain collective rights but revoking certain decisions such as the debarment from government contracting, the joint and several liability of the defendants, including Episol, To pay damages in the amount of Ps. 715,656 million and the orders regarding the interim measures This is a final non appealable ruling which terminated this contingency without generating any financial impact. Investigations by United States authorities In late 2018, the Department of Justice of the United States ("DOJ") and the United States Securities and Exchange Commission ("SEC") informed Grupo Aval that they had opened an investigation on matters related to the Ruta del Sol Sector 2 project. Grupo Aval provided cooperation with the DOJ and the SEC in these investigations. On August 10, 2023, Grupo Aval and its subsidiary Corficolombiana announced resolutions of these investigations by DOJ and the SEC. The resolutions were based on information gathered by U.S. authorities, including testimonial evidence from third parties, related to actions taken by a former Corficolombiana executive in connection with an Odebrecht-led bribery scheme related to Ruta del Sol II. Corficolombiana entered into a resolution with DOJ, and Grupo Aval and Corficolombiana entered into civil administrative resolutions with the SEC, that conclude the U.S. agencies’ investigations into the companies. The DOJ did not bring any enforcement action against Grupo Aval, and the SEC did not make a claim against Grupo Aval for bribery. As part of the resolutions, Corficolombiana and Grupo Aval agreed to pay an aggregate of US$60.6 million or Ps. 253,033 to U.S. authorities, after applicable credits. This effect was recorded in the Consolidated Financial Statements of Corficolombiana. |
NET INCOME FROM CONTRACTS WITH
NET INCOME FROM CONTRACTS WITH CUSTOMERS | 12 Months Ended |
Dec. 31, 2023 | |
Income from contract with customers [abstract] | |
NET INCOME FROM CONTRACTS WITH CUSTOMERS | NOTE 28 – NET INCOME FROM CONTRACTS WITH CUSTOMERS Below is the detail of the income and expenses for commissions and fees of the continuing operations for the years ended as of December 31, 2023, 2022 and 2021: December 31, December 31, December 31, Income from commissions and fees 2023 2022 2021 (1) Banking service fees Ps. 1,663,340 Ps. 1,533,322 Ps. 1,364,835 Debit and credit card fees 1,009,472 836,046 671,131 Pension and severance fund management 978,504 885,420 1,199,068 Trust activities and portfolio management services 463,194 353,285 336,637 Bonded warehouse services 188,191 187,237 169,386 Commissions on transfers, checks and checkbooks 22,941 25,181 25,187 Office network services 21,638 24,935 18,914 Other commissions and fees 9,056 29,013 10,771 Total income from commissions and fees Ps. 4,356,336 Ps. 3,874,439 Ps. 3,795,929 December 31, December 31, December 31, Expenses from commissions and fees 2023 2022 2021 (1) Banking services Ps. (617,524) Ps. (473,595) Ps. (371,380) Sales and services commissions (250,460) (340,918) (227,510) Fees paid to pension funds sales force (70,335) (97,470) (87,499) Information processing services of operators (29,905) (24,320) (22,940) Offices network services (20,147) (16,993) (11,158) Other (15,442) (17,380) (11,255) Total expenses from commissions and fees Ps. (1,003,813) Ps. (970,676) Ps. (731,742) Net income from commissions and fees Ps. 3,352,523 Ps. 2,903,763 Ps. 3,064,187 (1) Below is the detail of the income and cost from goods and services for the years ended as of December 31, 2023, 2022 and 2021: December 31, December 31, December 31, Income from sales of goods and services 2023 2022 2021 Energy and Gas Ps. 6,158,616 Ps. 5,718,808 Ps. 4,874,278 Infrastructure 3,954,197 5,330,193 4,662,912 Hotels 598,895 532,337 285,692 Agribusiness 296,804 340,984 218,511 Other services 215,044 219,005 409,521 Total income from sales of goods and services (*) Ps. 11,223,556 Ps. 12,141,327 Ps. 10,450,914 (*) December 31, December 31, December 31, Costs and expenses of sales goods and services 2023 2022 2021 Cost of sales from companies from non-financial sector Ps. (5,799,721) Ps. (5,575,912) Ps. (5,594,615) Allowance for impairment of loans and receivables (51,035) (59,073) (51,064) General and administrative expenses (989,313) (843,125) (647,425) Personnel expenses (607,894) (609,050) (558,561) Amortization of intangible assets (353,305) (305,488) (263,755) Depreciation of tangible assets (90,344) (103,972) (117,246) Depreciation of right of use assets (37,031) (35,294) (34,374) Employee bonuses (14,376) (11,569) (38,766) Commissions and fees expenses (39,466) (34,646) (27,886) Donations expenses (19,858) (16,739) (16,178) Labor severances (3,254) (1,363) (2,109) Total costs and expenses of sales goods and services Ps. (8,005,597) Ps. (7,596,231) Ps. (7,351,979) Gross profit from sales of goods and services Ps. 3,217,959 Ps. 4,545,096 Ps. 3,098,935 |
NET TRADING INCOME
NET TRADING INCOME | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of net trading income [abstract] | |
NET TRADING INCOME | NOTE 29 – NET TRADING INCOME Net trading income includes income from client driven trading activities primarily conducted in markets, including foreign exchange, credit, rates and equities trading, as follows: December 31, December 31, December 31, 2023 2022 2021 (4) Trading investment income (1) Fixed income (loss) securities Ps. 1,030,809 Ps. (60,797) Ps. (135,465) Equities 634,274 90,568 260,564 Total trading investment income Ps. 1,665,083 Ps. 29,771 Ps. 125,099 Derivatives (loss) income Net (loss) income on financial derivatives (2) Ps. (2,438,841) Ps. 1,503,453 Ps. 710,213 Other trading (loss) income (3) (142,291) 26,402 86,969 Total derivatives (loss) income Ps. (2,581,132) Ps. 1,529,855 Ps. 797,182 Total net trading (loss) income Ps. (916,049) Ps. 1,559,626 Ps. 922,281 (1) Includes net trading income from investment securities held for trading, that reflects the interest from investment in debt securities, gains/losses from mark-to-market valuation from investment in equity and debt securities and net income from trading activities. (2) Includes net trading income from derivatives, which reflects the gains/losses from mark-to-market valuation on trading derivatives. (3) Includes gains/losses from: (i) Net changes in the valuation of hedging derivatives from mark-to-market valuations from unhedged, (ii) the ineffective portion of the hedge, (iii) Transfers of due hedging derivatives from OCI to the statement of income. (4) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. |
OTHER INCOME AND EXPENSE
OTHER INCOME AND EXPENSE | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other income and expense [abstract] | |
OTHER INCOME AND EXPENSE | NOTE 30 – OTHER INCOME AND EXPENSE Below is the detail of the other income and expense in the years ended on December 31, 2023, 2022 and 2021: December 31, December 31, December 31, Other Income 2023 2022 2021 (2) Foreign exchange gains (losses), net (1) Ps. 2,253,925 Ps. (1,825,718) Ps. (491,415) Share of profit of equity accounted investees, net of tax 371,397 372,777 300,217 Gain on sale of properties, plant and equipment 360,728 142,149 20,651 Dividends 126,274 119,888 153,969 Net gain (loss) on sale of debt and equity securities 108,773 (134,699) 83,640 Net gain (loss) on asset valuation 74,886 50,463 20,974 Gain on the sale of non-current assets held for sale 48,589 10,487 13,631 Other income (3) 406,734 416,082 288,013 Total other income Ps. 3,751,306 Ps. (848,571) Ps. 389,680 (1) The net variation as of December 31, 2023, and December 31, 2022, corresponds mainly to the effect on the exchange rate variation of (Ps. (2) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. (3) , i December 31, December 31, December 31, Other Expense 2023 2022 2021 (1) Personnel expenses Ps. (3,055,168) Ps. (2,833,794) Ps. (2,634,187) Taxes and fees (1,214,559) (872,341) (678,613) Insurance (618,197) (524,557) (480,879) Consultancy, audit and other fees (537,972) (479,043) (447,130) Maintenance and repairs (394,524) (357,790) (310,265) Amortization of intangible assets (240,804) (225,137) (206,688) Marketing (233,512) (207,071) (174,961) Depreciation of tangible assets (218,230) (219,316) (209,296) Depreciation right of use assets (211,457) (201,293) (190,883) Affiliation contributions and transfers (168,986) (252,942) (212,952) Warehouse services (148,633) (144,739) (135,625) Leases (Rent) (144,276) (134,691) (131,552) Transportation services (95,520) (99,296) (93,707) Data processing (85,231) (77,803) (62,213) Losses due to claims (83,728) (39,435) (40,409) Cleaning and security services (80,904) (74,276) (73,852) Outsourcing services (59,599) (68,779) (61,522) Supplies and stationary (52,074) (46,114) (45,736) Loss from sale of property and equipment (44,399) (26,387) (11,968) Donations expenses (31,309) (36,019) (3,773) Adaptation and installation (28,076) (30,636) (28,947) Travel expenses (21,345) (24,249) (13,295) Impairment losses other assets (2,946) (20,787) (69,950) Loss from sale of non-current assets held for sale (595) (800) (2,927) Other (574,410) (412,488) (468,726) Total other expense Ps. (8,346,454) Ps. (7,409,783) Ps. (6,790,056) (1) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1 |
ANALYSIS OF OPERATING SEGMENTS
ANALYSIS OF OPERATING SEGMENTS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
ANALYSIS OF OPERATING SEGMENTS | NOTE 31 – ANALYSIS OF OPERATING SEGMENTS Operating segments are components of Grupo Aval responsible for developing commercial activities that can generate revenue or incur expenses and whose operating profit or loss are regularly reviewed by the chief operating decision maker (“CODM”) of Grupo Aval, and for which financial information is available. Operating segment information is consistent with the internal reports provided to the CODM. 31.1 Description of products and services from which each reportable segment derives its income As a result of the organizational changes made during the last year, the allocation of the segments for December 31, 2023 changed with respect to what was revealed in previous periods, going from a scheme of consolidated entities (8 segments) to groups of entities with homogeneous businesses (4 segments). The types of business that comprise the new segments are detailed below: – The “Banking Services” segment comprises the following businesses: Banking Services, fund management and trust businesses, storage companies and entities that manage low-value payment systems. – The “Merchant Banking” segment comprises the following businesses: Financial Sector (trust and brokerage), Gas and Energy Sector (includes natural gas and energy transportation and distribution businesses), Infrastructure Sector (includes road infrastructure projects, mainly construction services, and operation and maintenance), Hotel Sector (mainly includes hospitality services), Agribusiness Sector (mainly includes palm oil, rubber and rice businesses). – "Pension and Severance Fund Management" segment. – “Holding” segment, which is made up of Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. For comparative purposes, information from previous periods including this modification is being presented, in accordance with the requirements of IFRS 8 Operating Segments. 31.2 Factors used by management to identify reportable segments Operating segments identified above are based on the relevance of factors such as (i) the nature of the products and services provided and (ii) the geographical locations. Information regarding the performance of operating segments is reviewed by the CODM on a quarterly basis. With respect to the previous period and as required by IFRS 8 "Operating Segments", the reported figures have been modified to be consistent with 2023. 31.3 Measurement of net income, assets and liabilities of operating segments Grupo Aval’s CODM reviews the financial information of each of its operating segments and assesses the performance of each segment based on Statements of Financial Position and the Statement of Income of each of them, and on certain credit risk indicators, as described in note 2.4. 31.4 Information on net income, assets and liabilities of reportable operating segments The following is the detail of the reportable financial information summarized for each segment as of December 31, 2023, 2022 and 2021: Statement of Financial Position December 31, 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Assets Trading assets Ps. 8,987,130 Ps. 4,339,052 Ps. 2,197,618 Ps. 256 Ps. (72,935) Ps. 15,451,121 Investment securities (2) 28,140,335 4,323,998 470,474 2,359,521 (868,635) 34,425,693 Hedging derivatives assets 47,975 687 — — — 48,662 Investments in associates and joint ventures 11,825,193 997,597 — 19,060,746 (30,592,853) 1,290,683 Loans, net 174,849,356 2,660,449 — 1,239,785 (2,581,535) 176,168,055 Other assets (3) 30,346,277 44,959,411 903,887 411,537 (2,823,730) 73,797,382 Total assets Ps. 254,196,266 Ps. 57,281,194 Ps. 3,571,979 Ps. 23,071,845 Ps. (36,939,688) Ps. 301,181,596 Liabilities Customer deposits 177,750,657 8,169,647 1,287 — (3,934,195) 181,987,396 Financial obligations 41,562,702 21,455,386 97,565 5,512,298 (3,086,612) 65,541,339 Other liabilities (4) 9,258,820 12,134,042 601,505 382,088 (244,010) 22,132,445 Total liabilities Ps. 228,572,179 Ps. 41,759,075 Ps. 700,357 Ps. 5,894,386 Ps. (7,264,817) Ps. 269,661,180 (1) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (2) The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited. (3) Includes cash and cash equivalents for Ps. 18,597,861 ; intangible assets Ps. 18,141,916 ; other accounts receivable Ps. 25,617,225 , tangible assets Ps. 6,995,890 ; income tax assets Ps. 3,877,749 ; non-current assets held for sale Ps. 101,184 and other assets Ps. 465,557 . (4) Includes trading liabilities Ps. 2,154,361 ; hedging derivative liabilities Ps. 217,566 ; income tax liabilities Ps. 5,814,987 ; employee benefits Ps. 907,808 ; provisions Ps. 1,083,283 and other liabilities Ps. 11,954,440 . Statement of income for 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total External income Interest income Ps. 27,293,337 Ps. 1,149,086 Ps. 117,076 Ps. 359,905 Ps. — Ps. 28,919,404 Income from commissions and fees (2) 3,243,740 134,252 978,344 — — 4,356,336 Income from sales of goods and services (2) 107,864 11,069,075 46,617 — — 11,223,556 Share of profit of equity accounted investees, net of tax 41,277 326,328 — 3,792 — 371,397 Dividends 11,252 115,022 — — — 126,274 Net income from other financial instruments mandatory at fair value through profit or loss — 323,685 — — — 323,685 Net trading income (1,245,312) 34,383 294,784 96 — (916,049) Foreign exchange gain (loss), net 1,575,043 692,134 (11,757) (1,495) — 2,253,925 Other income (3) 817,906 153,118 28,419 267 — 999,710 Total external income Ps. 31,845,107 Ps. 13,997,083 Ps. 1,453,483 Ps. 362,565 Ps. — Ps. 47,658,238 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Intersegment income Interest income Ps. 376,228 Ps. 158,256 Ps. 3,588 Ps. 31,624 Ps. (569,696) Ps. — Income from commissions and fees (2) 29,127 1,979 254 292,641 (324,001) — Income from sales of goods and services (2) 2,324 1,844 38,373 — (42,541) — Share of profit of equity accounted investees, net of tax 830,683 (341) — 642,720 (1,473,062) — Dividends 453 1,449 — — (1,902) — Net trading income 80 2,202 5,315 — (7,597) — Other income (3) 53,109 (446) (24,025) 835 (29,473) — Total intersegment income 1,292,004 164,943 23,505 967,820 (2,448,272) — Total income Ps. 33,137,111 Ps. 14,162,026 Ps. 1,476,988 Ps. 1,330,385 Ps. (2,448,272) Ps. 47,658,238 Expenses Interest expense Ps. (19,260,207) Ps. (3,471,779) Ps. (56,927) Ps. (519,869) Ps. 676,352 Ps. (22,632,430) Net impairment loss on financial assets (4,170,048) (28,175) 1,965 12,578 1,286 (4,182,394) Depreciation and amortization (639,717) (14,028) (16,786) (1,736) 1,776 (670,491) Expenses from commissions and fees (910,751) (16,104) (104,773) (430) 28,245 (1,003,813) Costs and expenses of sales goods and services (443,840) (7,498,858) (79,794) — 16,895 (8,005,597) Personnel expenses (2,672,717) (147,303) (195,469) (39,779) 100 (3,055,168) Administrative expenses (4,185,245) (178,885) (259,331) (67,494) 323,953 (4,367,002) Income tax expense 184,941 (1,268,268) (172,943) (56,966) 2,802 (1,310,434) Other expense (4) (212,354) (8,459) (32,721) 82,111 (82,370) (253,793) Total expenses (32,309,938) (12,631,859) (916,779) (591,585) 969,039 (45,481,122) Net income for the year Ps. 827,173 Ps. 1,530,167 Ps. 560,209 Ps. 738,800 Ps. (1,479,233) Ps. 2,177,116 (1) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (2) See note 28, income from contracts with customers. (3) Includes Net gain on sale of debt and equity securities for Ps. 108,773 ; Gain on the sale of non-current assets held for sale Ps. 48,589 ; net gain in asset valuation Ps. 74,886 and other operating income Ps. 767,462 . (4) Includes loss from sale of non-current assets held for sale Ps. (595) and other operating expenses Ps. (253,198) . Revenue from contracts with customers at December, 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Revenue from contracts with customers (2) Ps. 3,383,055 Ps. 11,207,150 Ps. 1,063,588 Ps. 292,641 Ps. (366,542) Ps. 15,579,892 Timing of revenue recognition At a point in time 142,134 400,146 75,527 292,641 (304,433) 606,015 Over time 3,240,921 10,807,004 988,061 — (62,109) 14,973,877 (1) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (2) See note 28, includes Income from contracts with customers. Statement of Financial Position December 31, 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Assets Trading assets Ps. 5,689,416 Ps. — Ps. 4,147,230 Ps. 2,061,335 Ps. 764 Ps. (57,338) Ps. 11,841,407 Investment securities (3) 27,574,684 — 3,364,143 528,607 2,725,950 (518,907) 33,674,477 Hedging derivatives assets 107 — 20,747 — — — 20,854 Investments in associates and joint ventures 11,326,522 — 1,143,120 — 18,812,115 (29,858,414) 1,423,343 Loans, net 177,391,660 — 2,455,471 — 1,505,904 (2,237,188) 179,115,847 Other assets (4) 27,794,158 — 42,899,607 932,790 282,691 (2,393,938) 69,515,308 Total assets Ps. 249,776,547 Ps. — Ps. 54,030,318 Ps. 3,522,732 Ps. 23,327,424 Ps. (35,065,785) Ps. 295,591,236 Liabilities Customer deposits Ps. 170,222,824 — 6,589,578 1,124 — (3,472,377) 173,341,149 Financial obligations 46,440,671 — 21,296,089 444,647 6,509,111 (2,573,743) 72,116,775 Other liabilities (5) 7,441,514 — 11,273,270 610,809 124,715 (138,655) 19,311,653 Total liabilities Ps. 224,105,009 Ps. — Ps. 39,158,937 Ps. 1,056,580 Ps. 6,633,826 Ps. (6,184,775) Ps. 264,769,577 (1) See note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (3) The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited. (4) Includes cash and cash equivalents for Ps. 17,032,857 ; intangible assets Ps. 17,531,081 ; other accounts receivable Ps. 23,380,573 , tangible assets Ps. 7,235,441 ; income tax assets Ps. 3,633,876 ; non-current assets held for sale Ps. 92,830 and other assets Ps. 608,650 . (5) Includes trading liabilities Ps. 1,757,606 ; Hedging derivative liabilities Ps. 3,568 ; income tax liabilities Ps. 5,291,487 ; employee benefits Ps. 890,019 ; provisions Ps. 1,227,171 and other liabilities Ps. 10,141,802 . Statement of Income for the year 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total External income Interest income Ps. 18,321,381 Ps. — Ps. 723,488 Ps. 98,302 Ps. 259,861 Ps. — Ps. 19,403,032 Income from commissions and fees (3) 2,865,336 — 127,609 881,494 — — 3,874,439 Income from sales of goods and services (3) 88,093 — 11,986,518 66,716 — — 12,141,327 Share of profit of equity accounted investees, net of tax 41,904 — 326,448 — 4,425 — 372,777 Dividends 17,696 — 102,192 — — — 119,888 Net income from other financial instruments mandatory at fair value through profit or loss — — 278,751 — — — 278,751 Net trading income 1,207,099 — 388,350 (35,975) 152 — 1,559,626 Foreign exchange loss, net (1,286,774) — (483,627) (54,771) (546) — (1,825,718) Other income (4) 583,001 — (98,871) (738) 1,090 — 484,482 Discontinued operations (5) 455,908 544,890 — — (134,632) — 866,166 Total external income Ps. 22,293,644 Ps. 544,890 Ps. 13,350,858 Ps. 955,028 Ps. 130,350 Ps. — Ps. 37,274,770 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Intersegment income Interest income Ps. 240,317 Ps. — Ps. 110,250 Ps. 7,958 Ps. 172,312 Ps. (530,837) Ps. — Income from commissions and fees (3) 23,981 — 1,502 3,682 282,924 (312,089) — Income from sales of goods and services (3) 26,225 — 1,603 4,573 — (32,401) — Share of profit of equity accounted investees, net of tax 884,067 — 427 — 1,915,871 (2,800,365) — Dividends 298 — 1,876 — — (2,174) — Net trading income — — (387) (1,639) — 2,026 — Foreign exchange loss, net — — — — — — — Other income (4) 12,832 — 36 2,906 369 (16,143) — Discontinued operations (5) — — — — 596,648 (596,648) — Total intersegment income 1,187,720 — 115,307 17,480 2,968,124 (4,288,631) — Total income Ps. 23,481,364 Ps. 544,890 Ps. 13,466,165 Ps. 972,508 Ps. 3,098,474 Ps. (4,288,631) Ps. 37,274,770 Expenses Interest expense Ps. (9,602,059) Ps. — Ps. (2,030,256) Ps. (63,207) Ps. (517,383) Ps. 548,510 Ps. (11,664,395) Net impairment loss on financial assets (2,447,198) — (14,266) (7,782) (23,840) (62) (2,493,148) Depreciation and amortization (620,298) — (11,492) (14,486) (1,766) 2,296 (645,746) Expenses from commissions and fees (767,204) — (17,175) (193,124) (19,992) 26,819 (970,676) Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Costs and expenses of sales goods and services (487,142) — (7,059,820) (63,049) — 13,780 (7,596,231) Personnel expenses (2,493,399) — (123,104) (168,450) (48,933) 92 (2,833,794) Administrative expenses (3,569,706) — (126,670) (195,071) (116,899) 304,747 (3,703,599) Income tax expense (405,748) — (1,753,733) (92,993) (18,802) (128) (2,271,404) Other expense (6) (178,160) — (28,251) (19,152) (1,185) 104 (226,644) Total expenses (20,570,914) — (11,164,767) (817,314) (748,800) 896,158 (32,405,637) Net income for the year Ps. 2,910,450 Ps. 544,890 Ps. 2,301,398 Ps. 155,194 Ps. 2,349,674 Ps. (3,392,473) Ps. 4,869,133 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, income from contracts with customers. (4) Includes Net gain on sale of debt and equity securities for Ps. (134,699) ; Gain on the sale of non-current assets held for sale Ps. 10,487 ; net gain in asset valuation Ps. 50,463 and other operating income Ps. 558,231 . (5) S ee note 1.1. “Discontinued operations of BAC Holding” . (6) Includes loss from sale of non-current assets held for sale Ps. (800) and other operating expenses Ps. (225,844) . Revenue from contracts with customers at December, 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Revenue from contracts with customers (3) Ps. 3,003,635 Ps. — Ps. 12,117,232 Ps. 956,465 Ps. 282,924 Ps. (344,490) Ps. 16,015,766 Timing of revenue recognition At a point in time 318,011 — 193,572 62,743 282,924 (289,876) 567,374 Over time 2,685,624 — 11,923,660 893,722 — (54,614) 15,448,392 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, includes Income from contracts with customers. Statement of Income of the year 2021 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total External income Interest income Ps. 12,304,916 Ps. — Ps. 441,586 Ps. 44,907 Ps. — Ps. — Ps. 12,791,409 Income from commissions and fees (3) 2,506,789 — 94,244 1,194,305 591 — 3,795,929 Income from sales of goods and services (3) 85,268 — 10,309,563 56,083 — — 10,450,914 Share of profit of equity accounted investees, net of tax 25,486 — 272,646 — 2,085 — 300,217 Dividends 11,551 — 142,418 — — — 153,969 Net income from other financial instruments mandatory at fair value through profit or loss — — 270,095 — — — 270,095 Net trading income 490,743 — 207,794 223,745 (1) — 922,281 Foreign exchange loss, net (189,065) — (243,430) (59,150) 230 — (491,415) Other income (4) 411,634 — 15,705 (1,297) 867 — 426,909 Discontinued operations (5) — 10,444,185 — — — — 10,444,185 Total external income Ps. 15,647,322 Ps. 10,444,185 Ps. 11,510,621 Ps. 1,458,593 Ps. 3,772 Ps. — Ps. 39,064,493 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Intersegment income Interest income Ps. 120,669 Ps. — Ps. 22,353 Ps. 5,308 Ps. 445,206 Ps. (593,536) Ps. — Income from commissions and fees (3) 20,209 — 1,821 3,508 283,640 (309,178) — Income from sales of goods and services (3) 19,768 — 933 6,117 — (26,818) — Share of profit of equity accounted investees, net of tax 862,945 — 1,139 — 3,406,774 (4,270,858) — Dividends 267 — 2,039 — — (2,306) — Net trading income (2,040) — (318) (1,987) — 4,345 — Foreign exchange loss, net — — (250) — — 250 Gain on deconsolidation (6) 1,303,024 — — — — (1,303,024) — Other income (4) 13,974 — (1,053) 5,694 137 (18,752) — Discontinued operations (5) 1,627,312 64,106 — — — (1,691,418) — Total intersegment income 3,966,128 64,106 26,664 18,640 4,135,757 (8,211,295) — Total income Ps. 19,613,450 Ps. 10,508,291 Ps. 11,537,285 Ps. 1,477,233 Ps. 4,139,529 Ps. (8,211,295) Ps. 39,064,493 Expenses Interest expense Ps. (3,745,070) Ps. — Ps. (1,028,343) Ps. (40,247) Ps. (443,209) Ps. 596,039 Ps. (4,660,830) Net impairment loss on financial assets (2,714,672) — (9,177) (6,943) — 9,709 (2,721,083) Depreciation and amortization (585,650) — (9,434) (15,637) (1,811) 5,665 (606,867) Expenses from commissions and fees (625,788) — (13,587) (131,503) (563) 39,699 (731,742) Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Costs and expenses of sales goods and services (479,775) — (6,830,460) — — (41,744) (7,351,979) Personnel expenses (2,331,813) — (107,959) (172,539) (37,293) 15,417 (2,634,187) Administrative expenses (3,131,934) — (100,585) (232,314) (99,532) 354,758 (3,209,607) Income tax expense (601,377) — (1,476,571) (191,886) (53,555) (39) (2,323,428) Other expense (7) (98,699) — (112,146) (105,961) (439) (22,150) (339,395) Discontinued operations (5) — (8,816,873) — — — — (8,816,873) Total expenses (14,314,778) (8,816,873) (9,688,262) (897,030) (636,402) 957,354 (33,395,991) Net income for the year Ps. 5,298,672 Ps. 1,691,418 Ps. 1,849,023 Ps. 580,203 Ps. 3,503,127 Ps. (7,253,941) Ps. 5,668,502 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, income from contracts with customers. (4) Includes net gain on sale of debt and equity securities for Ps. 83,640 ; gain on the sale of non-current assets held for sale Ps. 13,631 ; net gain in asset valuation Ps. 20,974 and other operating income Ps. 308,664 . (5) Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. Includes recognition of the spin-off of MFG from the BAC Holding segment to the Banco de Bogotá segment. (6) Corresponds to deconsolidation of Porvenir from the Banco de Bogotá segment. (7) Includes loss from sale of non-current assets held for sale Ps. (2,927) and other operating expenses Ps. (336,468) . Revenue from contracts with customers at December, 2021 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Revenue from contracts with customers (3) Ps. 2,632,034 Ps. — Ps. 10,406,561 Ps. 1,260,013 Ps. 284,231 Ps. (335,996) Ps. 14,246,843 Timing of revenue recognition At a point in time 273,025 — 139,770 54,701 284,231 (291,523) 460,204 Over time 2,359,009 — 10,266,791 1,205,312 — (44,473) 13,786,639 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement ) and Grupo Aval Limited. (3) See note 28, includes Income from contracts with customers. Reconciliation of net income, assets and liabilities of the reportable operating segments Main eliminations of total income, expenses, assets and liabilities between segments with the corresponding consolidated entries at the level of Grupo Aval are: ● Loans and financial obligations of entities mainly from non-financial sector. ● Investments in term deposits and outstanding bonds of in other segments. ● Investments in subordinates elimination and record of non- controlling interests. ● Leases and commissions pay between entities of Grupo Aval. ● Expenses and incomes from commissions 31.5 Analysis of Revenues by Products and Services Grupo Aval’s revenues are analyzed in each segment by products and services, in the statement of income. 31.6 Income by Country Grupo Aval’s revenues for each individual country for which revenues are significant, are the following during the years ended December 31, 2023, 2022 and 2021: December 31, 2023 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 26,954,361 Ps. 1,852,433 Ps. 62,818 Ps. 49,582 Ps. 210 Ps. 28,919,404 Income from commissions and fees 4,196,458 157,526 2,116 119 117 4,356,336 Commissions on banking services 1,526,772 134,216 2,116 119 117 1,663,340 Fees on credit cards 986,721 22,751 — — — 1,009,472 Pension and severance fund management 978,504 — — — — 978,504 Trust activities 463,194 — — — — 463,194 Storage services 188,191 — — — — 188,191 Commissions on drafts, checks and checkbooks 22,382 559 — — — 22,941 Office network services 21,638 — — — — 21,638 Other commissions 9,056 — — — — 9,056 Share of profit of equity accounted investees, net of tax 371,397 — — — — 371,397 Dividends 119,988 6,286 — — — 126,274 Income from sales of goods and services 10,305,957 — — 917,599 — 11,223,556 Energy and gas E&G 5,263,794 — — 894,822 — 6,158,616 Infrastructure 3,954,197 — — — — 3,954,197 Hotels 576,118 — — 22,777 — 598,895 Agribusiness 296,804 — — — — 296,804 Other services 215,044 — — — — 215,044 Other income 2,500,392 155,595 (294) 5,584 (6) 2,661,271 Total income Ps. 44,448,553 Ps. 2,171,840 Ps. 64,640 Ps. 972,884 Ps. 321 Ps. 47,658,238 (1) Costa Rica and Grand Cayman. December 31, 2022 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 17,882,243 Ps. 1,445,425 Ps. 41,664 Ps. 33,550 Ps. 150 Ps. 19,403,032 Income from commissions and fees 3,731,370 140,491 2,398 46 134 3,874,439 Commissions on banking services 1,410,232 120,512 2,398 46 134 1,533,322 Pension and severance fund management 885,420 — — — — 885,420 Fees on credit cards 816,587 19,459 — — — 836,046 Trust activities 353,285 — — — — 353,285 Storage services 187,237 — — — — 187,237 Other commissions 29,013 — — — — 29,013 Commissions on drafts, checks and checkbooks 24,661 520 — — — 25,181 Office network services 24,935 — — — — 24,935 Share of profit of equity accounted investees, net of tax 372,777 — — — — 372,777 Dividends 108,343 11,545 — — — 119,888 Income from sales of goods and services 11,198,953 — — 942,374 — 12,141,327 Energy and gas E&G 4,797,942 — — 920,866 — 5,718,808 Infrastructure 5,330,193 — — — — 5,330,193 Hotels 510,829 — — 21,508 — 532,337 Agribusiness 340,984 — — — — 340,984 Other services 219,005 — — — — 219,005 Other income 370,640 115,657 (616) 11,146 314 497,141 Total income from continuing operations Ps. 33,664,326 Ps. 1,713,118 Ps. 43,446 Ps. 987,116 Ps. 598 Ps. 36,408,604 Discontinued operations (2) 866,166 — — — — 866,166 Total income 34,530,492 1,713,118 43,446 987,116 598 37,274,770 (1) (2) December 31, 2021 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 11,683,436 Ps. 1,058,684 Ps. 27,652 Ps. 21,037 Ps. 600 Ps. 12,791,409 Income from commissions and fees 3,681,566 110,506 2,664 786 407 3,795,929 Commissions on banking services 1,264,012 96,966 2,664 786 407 1,364,835 Pension and severance fund management 1,199,068 — — — — 1,199,068 Fees on credit cards 658,030 13,101 — — — 671,131 Trust activities 336,637 — — — — 336,637 Storage services 169,386 — — — — 169,386 Commissions on drafts, checks and checkbooks 24,748 439 — — — 25,187 Office network services 18,914 — — — — 18,914 Other commissions 10,771 — — — — 10,771 Share of profit of equity accounted investees, net of tax 300,217 — — — — 300,217 Dividends 148,091 5,878 — — — 153,969 Income from sales of goods and services 9,416,207 — — 1,034,707 — 10,450,914 Energy and gas E&G 3,850,399 — — 1,023,879 — 4,874,278 Infrastructure 4,662,912 — — — — 4,662,912 Hotels 274,864 — — 10,828 — 285,692 Agribusiness 218,511 — — — — 218,511 Other services 409,521 — — — — 409,521 Other income 966,253 158,525 2,009 881 202 1,127,870 Total income from continuing operations Ps. 26,195,770 Ps. 1,333,593 Ps. 32,325 Ps. 1,057,411 Ps. 1,209 Ps. 28,620,308 Discontinued operations (2) 10,444,185 — — — — 10,444,185 Total income 36,639,955 1,333,593 32,325 1,057,411 1,209 39,064,493 ______________________________ (1) Costa Rica and Grand Cayman. (2) Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022 . During the years ended December 31, 2023, 2022 and 2021, Grupo Aval reported no concentration of revenue in customers with more than a 10% share of revenue from ordinary activities. The foregoing analysis is based on the customer's domicile. Income from off- shore entities of Colombian customers are reported as income from Colombia. The revenues include income from interest, fees, commissions and other operating income. 31.7 Non-current assets by Country The main non-current assets are detailed below according to the presentation based on the degree of liquidity for each country for the periods ending December 31, 2023 and 2022: December 31, 2023 (1) Own – use Property, plant and equipment, net (2) Intangible assets Colombia Ps. 3,979,113 Ps. 15,303,358 Panamá 326,976 258,404 Perú 121,544 2,579,249 Barbados 170 905 Total Ps. 4,427,803 Ps. 18,141,916 December 31, 2022 (1) Own – use Property, plant and equipment, net (2) Intangible assets Colombia Ps. 4,173,701 Ps. 14,239,986 Panamá 431,409 334,463 Perú 124,953 2,956,379 Barbados 179 253 Total Ps. 4,730,242 Ps. 17,531,081 (1) see note 15.1 (2) see notes 16 to 18. |
UNCONSOLIDATED STRUCTURED ENTIT
UNCONSOLIDATED STRUCTURED ENTITIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of unconsolidated structured entities [abstract] | |
UNCONSOLIDATED STRUCTURED ENTITIES | NOTE 32 – UNCONSOLIDATED STRUCTURED ENTITIES The term "unconsolidated structured entities" refers to all structured entities that are not controlled by Grupo Aval. Grupo Aval enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. The table below shows the total assets of unconsolidated structured entities in which Grupo Aval had an interest at the reporting date and its maximum exposure to loss in relation to those interests: Nature and risks associated with Grupo Aval’s interests in unconsolidated structured entities Grupo Funds Aval’s managed managed by December 31, 2023 funds other entities Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 3,680,026 Ps. 2,567,099 Ps. 6,247,125 Other account receivables 31,629 533 32,162 Total assets in relation to Grupo Aval’s interests in the unconsolidated structured entities 3,711,655 2,567,632 6,279,287 Grupo Aval’s maximum exposure (*) Ps. 3,711,655 Ps. 2,567,632 Ps. 6,279,287 (*) Represent Grupo Funds Aval’s managed managed by December 31, 2022 funds other entities Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 4,427,288 Ps. 1,602,297 Ps. 6,029,585 Other account receivables 29,862 — 29,862 Total assets in relation to Grupo Aval’s interests in the unconsolidated structured entities 4,457,150 1,602,297 6,059,447 Grupo Aval’s maximum exposure (*) Ps. 4,457,150 Ps. 1,602,297 Ps. 6,059,447 (*) Represent In the normal course of operations, Grupo Aval has trust companies that manage collective investment funds and assets of third parties where the managing trustees receive commissions. Additionally, Grupo Aval’s subsidiary Fondo de Pensiones y Cesantias Porvenir manages mandatory pension funds and defined contribution plans. For management services provided by Porvenir, commissions received vary according to the performance of each fund or asset managed. The obligations of these entities in the administration of these assets are obligations of means and do not guarantee the results. The maximum exposure risk of loss is determined by the possible failures in the administration of the funds by the amount of the returns that manages and the return of the results of assets the clients. |
TRANSFERS OF FINANCIAL ASSETS
TRANSFERS OF FINANCIAL ASSETS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transfers of financial assets [abstract] | |
TRANSFERS OF FINANCIAL ASSETS | NOTE 33 - TRANSFERS OF FINANCIAL ASSETS Grupo Aval enters into transactions in its normal course of business by which it transfers financial assets to third parties. Depending on the circumstances, these transfers may either result in these financial assets being derecognized or continuing to be recognized in Grupo Aval´s financial statements. Transferred financial assets not qualifying for full derecognition i. Sale and repurchase agreements Sales and repurchase agreements are transactions in which Grupo Aval sells securities and simultaneously agrees to repurchase them (or assets that are substantially the same) at a fixed price on a future date. Grupo Aval continues to recognize the securities in their entirety in the statement of financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Because Grupo Aval sells the contractual rights to the cash flows of the securities, it does not have the ability to use the transferred assets during the term of the arrangement. As of December 31, 2023, the financial assets held for trading that are being used as collateral under repurchase agreements amounted to Ps. 2,853,286 (December 31, 2022 Ps. 1,998,733) see note 5.1.1 (only pledged as collateral in money market operations and pledged as collateral to special entities such as CRCC, BR and BVC), the financial investments debt securities at amortized cost that are being used as collateral under repurchase agreements amounted to Ps.3,208,890 (December 31, 2022 Ps. 1,379,758) see note 9.3.1 and the financial investments debt securities FVOCI that are being used as collateral under repurchase agreements amounted to Ps. 10,786,312 (December 31, 2022 Ps. 7,713,235) see note 5.1.2 (only pledged as collateral in money market operations and pledged as collateral to special entities such as CRCC, BR and BVC). ii. Securities lending As of December 31, 2023, and 2022 Grupo Aval has not recorded securities lending. Transfer of financial assets that are derecognized in their entirety. i. Securitizations As of December 31, 2023, and 2022 Grupo Aval has not recorded securitizations. |
RELATED PARTIES
RELATED PARTIES | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
RELATED PARTIES | NOTE 34 – RELATED PARTIES To verify the correct identification of relationships and transaction with related parties, Grupo Aval has established a specific formal Procedure for the Identification and Disclosure of Balances and Transactions with Related Parties. In application of this procedure, our members of the Board of Directors and our key management personnel are periodically required to identify close family members and entities over which such persons have significant influence. Such process is conducted by a written request containing the criteria that such person must consider in order to provide information on close family members and entities that must be disclosed as their related parties. In addition, Grupo Aval Vice-Presidency of Accounting Consolidation periodically performs an evaluation of its controlling and non-controlling investments in other entities to identify if such entities should be treated as a related entity. The following are some of the guidelines included in the abovementioned corporate framework: ● Grupo Aval and its subsidiaries shall permanently carry out the registration of the operations performed with related parties, identifying the type of operation, its purpose, economic conditions and authorizations received when applicable. ● Grupo Aval and its subsidiaries shall establish limits of indebtedness or exposure and perform constant monitoring of the intragroup operations, complying for such purpose with the restrictions set forth under applicable regulations. ● All intragroup operations shall be fully identified by accounting areas of the respective entities. ● Authorization levels are defined within the governance and control structure, assigned as may be deemed adequate as a function of the magnitude and type of transaction, keeping the evidence of such authorizations. ● It should be verified that related party transactions are carried out for a good and valuable consideration, at market conditions, maintaining a financial equilibrium in the relationships between the entities participating in the operation. This Reference Framework for Institutional Relations was also submitted to the consideration and approval of the Board of Directors of our subsidiaries and has been made available in the web sites of Grupo Aval and its subsidiaries. Balances as of the year ended December 31, 2023 and 2022, with related parties, are detailed in the following tables: Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2023 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. - Ps. - Ps. - Ps. 863 Ps. - Financial assets in investments - - 1,533,531 2,008,318 - Financial assets in credit operations 14,141 7,537 742,607 (**) 2,884,514 138,645 Accounts receivable 28 12 34,908 1,945,671 68 Other assets - - 12,651 59,511 - Liabilities Deposits Ps. 187,385 Ps. 27,531 Ps. 95,101 Ps. 1,420,051 Ps. 15,432 Accounts payable 683 314 20,173 417,908 2 Financial obligations 85 1,237 3 4,774 - Other liabilities - - 61 53 - (*) Include family members (**) Includes two loans for Ps. 1,037,413 at 36 months with SOFR rate 3M + 3.5% and Ps. 202,371 at 24 months with IBR rate 3M + 4.5% , granted to an entity controlled by the ultimate beneficial owner of the Group (See note 1.1 B) Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. — Ps. 292 Ps. — Financial assets in investments — — 1,798,710 3,047,516 — Financial assets in credit operations 18,375 8,822 553,830 (**) 3,228,184 161,569 Accounts receivable 35 19 14,288 2,154,112 6 Other assets — — 7,941 28,290 3,028 Liabilities Deposits Ps. 260,079 Ps. 29,704 Ps. 176,414 Ps. 1,099,251 Ps. 14,351 Accounts payable 292 214 19,983 153,676 5,033 Financial obligations 13 74 — 20,279 — Other liabilities — — 7,032 114 — (*) Include family members (**) Includes two loans for Ps. 1,303,971 at 36 months with SOFR rate 3M + 3.5% and Ps. 201,954 at 24 months with IBR rate 3M + 4.5% , granted to an entity controlled by the ultimate beneficial owner of the Group (See note 1.1 B) Transactions during the years ended as of December 31, 2023, 2022 and 2021, with related parties are as follows: a. Profit or loss Individuals Entities Individuals with Entities with control Key Associates Entities significant over Grupo management and joint controlled by influence by December 31, 2023 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 550 Ps. 611 Ps. 92,029 Ps. 618,120 Ps. 24,009 Fee income and commissions 4 25 28,853 157,205 33 Leases — — 1,574 76 — Other income 3 14 480,565 30,809 51 Expenses Financial expenses Ps. (4,412) Ps. (3,581) Ps. (10,337) Ps. (80,165) Ps. (281) Fee expenses and commissions (4) (2,801) (91,646) (4,044) (171) Operating expenses (706) (15,735) (408) (5,517) — Other expenses (11) (8) (173,899) (100,632) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 501 Ps. 578 Ps. 45,585 Ps. 342,962 Ps. 20,418 Fee income and commissions 3 69 29,161 169,629 6 Leases — — 1,499 — — Other income 5 6 510,803 28,818 36 Expenses Financial expenses Ps. (2,458) Ps. (2,253) Ps. (13,370) Ps. (119,330) Ps. (211) Fee expenses and commissions (4) (2,153) (59,554) (5,028) (400) Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Operating expenses (905) (11,277) (502) (3,181) — Other expenses (8) (3,190) (213,080) (98,920) (35) (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2021 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 294 Ps. 439 Ps. 18,333 Ps. 60,964 Ps. 11,224 Fee income and commissions 4 51 30,417 120,642 6 Leases — — 1,459 81 — Other income 7 14 340,583 15,867 20 Expenses Financial expenses Ps. (857) Ps. (391) Ps. (1,034) Ps. (31,879) Ps. (127) Fee expenses and commissions (4) (1,862) (39,278) (1,466) (338) Operating expenses (308) (9,829) (327) (2,648) — Other expenses (3) (2,868) (84,328) (49,364) — (*) Include family members b. Compensation of Key Management Personnel The compensation received by the key personnel of the management comprises the following: Year ended as of December 31, December 31, December 31, Items 2023 2022 2021 Salaries Ps. 36,222 Ps. 34,852 Ps. 34,250 Short term benefits for employees 6,741 17,686 14,761 Termination benefits 8,754 — — Long term benefits for employees — — 425 Fee 2,418 1,917 1,871 Total Ps. 54,135 Ps. 54,455 Ps. 51,307 Transactions with our related parties correspond primarily to the normal course of banking business activities carried out under market conditions. Such transactions include demand and saving deposits, time deposits, commercial, consumer and mortgage loans, financial leases, payment of dividends and or interest. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
SUBSEQUENT EVENTS | NOTE 35 – SUBSEQUENT EVENTS 1. The General Meeting of Shareholders that took place on March 20, 2024 , approved the following: Net income for period ended December 31, 2023 included in the unconsolidated financial statements of Grupo Aval Ps. 723,037 Occasional reserve release at the disposal of the General Meeting of Shareholders Ps. 7,220,883 Total Income available for disposal of the General Meeting of Shareholders Ps. 7,943,920 Dividends To distribute a cash profit of Ps. 2 per share per month during the months of April 2024 to March 2025, both months included over 23,743,475,754 shares subscribed and paid as of the date of this meeting. Total dividends declared Ps. 569,843 Total shares outstanding 23,743,475,754 To Occasional reserve at the disposal of General Meeting of Shareholders Ps. 7,374,077 2. In a meeting held on February 26, 2024, Grupo Aval’s Board of Directors approved the presentation of the consolidated financial statements under Colombian IFRS and the accompanying notes for the period ended December 31, 2023, for consideration of the General Meeting of Shareholders. |
BASIS OF PREPARATION OF THE C_2
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of voluntary change in accounting policy [abstract] | |
Disclosure of basis of consolidation [text block] | 2.1 Basis of preparation a) The Consolidated Financial Statements are prepared as follows: ● The Consolidated Statement of Financial position presents the company´s assets and liabilities based on liquidity since it provides reliable and more relevant information than separate current and non-current classifications. ● The Consolidated Statements of Income and Other Comprehensive Income are presented separately. The Consolidated Statement of Income is presented according to the function of expenses, as this method provides reliable and more relevant information. ● The Consolidated Statement of Cash Flows is presented using the indirect method. Accordingly, net cash flows from operating activities are determined by reconciling net income before tax expense, with the effects of non-cash items, net changes in assets and liabilities from operating activities, and for any other effects that are not classified as investing or financing activities. Revenues and expenses due to interest received and paid are part of operating activities. b) Consolidated Financial Statements Grupo Aval prepares its Consolidated Financial Statements incorporating its controlled entities. Grupo Aval controls an investee if and only if it complies with the following elements: ● Power over the investee entitling Grupo Aval to direct any relevant activities that significantly affect the investee's performance. ● Exposure, or rights to variable returns from its involvement with the investee. ● Ability to affect those returns through its power over the investee. Grupo Aval carries out an annual assessment of all its contractual relationships in order to identify new controlled entities or entities where control has been lost. For the year 2023 and 2022, no new entities were identified which had to be consolidated. The financial statements for Grupo Aval´s subsidiaries are included in the consolidated financial statements since the date on which Grupo Aval acquires control or following control until the date on which control is lost. During the consolidation process, Grupo Aval combines the assets, liabilities and profits or losses of those entities under control, previously aligning the accounting policies in all the subsidiaries and translating its financial statements to Colombian Pesos. This process includes eliminating intra-group balances and transactions and any unrealized and realized income and expense (except for foreign currency translation gains or losses and those taxes which are not subject to elimination) arising from intra-group transactions. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. Non-controlling interests are presented under total equity in the Consolidated Statement of Financial Position of Grupo Aval separately from equity attributable to owners of the parent company. For consolidation purposes, the Consolidated Statements of Financial Position and Income of entities with a functional currency different form Grupo Aval are translated to Colombian pesos as follows: ● Assets and liabilities are translated at the closing exchange rate at the reporting date; ● Income, expense and cash flows are translated at the corresponding month’s average exchange rate since they approximate the exchange rates of each specific transaction; ● All resulting exchange differences are recognized in other comprehensive income and accumulated in the foreign currency translation reserve, except to the extent that the translation difference is allocated to non-controlling interests. When Grupo Aval ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. c) Investments in associates Associates are companies in which Grupo Aval has significant influence but not control and are accounted for under the equity method. They are presented in the Consolidated Statement of Financial Position as “Investments in associates and joint ventures” (see Note 2.1.(d) “Joint arrangements”). Grupo Aval exercises significant influence over another entity if it owns, directly or indirectly, 20% or more of the voting power of the investee, unless it is clearly evidenced that such influence does not exist. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the Consolidated Financial Statements include the Grupo Aval’s share of the profit or loss and OCI of equity accounted investees, until the date on which significant influence or joint control ceases. Dividends received from associates and joint ventures are recognized as a lower value in the carrying amount of the investment. In the case that Grupo Aval´s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, Grupo Aval does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between Grupo Aval and its associates are eliminated to the extent of Grupo Aval’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by Grupo Aval. The carrying amount of associates are tested for impairment. d) A joint arrangement is one in which two or more parties have joint control of the arrangement. Joint arrangements are divided into joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement, under joint operations the parties having joint control of the agreement have rights to the assets and obligations to the liabilities relating to the agreement. Under joint ventures, the parties having joint control, are entitled to the net assets of the agreement. Grupo Aval recognizes joint operations in the Consolidated Financial Statements based on their proportional and contractual participation in each of the assets, liabilities and profit or loss of the contract or entity wherein the agreement is held. Grupo Aval recognizes joint ventures through the equity method, in the same manner as investments in associates. |
Description of accounting policy for functional currency [text block] | 2.2 Functional and presentation currency Considering that the majority of the Group´s business activities as well as the generation and use of cash is in Colombian pesos, the Colombian peso is the currency that most accurately represents the economic environment of Grupo Aval’s operations, both for the Consolidated Financial Statements and for the parent company. Foreign entities have functional currencies different from the Colombian peso, which are translated to Colombian pesos for presentation purposes. The main functional currency these foreign entities is the US dollar. |
Description of accounting policy for foreign currency translation [text block] | 2.3 Transactions in foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies in terms of historical costs are measured using the exchange rate at the transaction date. Financial instruments measured at fair value are converted using the exchange rate at the date the fair value was determined. Profits or losses resulting from the translation process are recognized in profit or loss, except for financial instruments designated as hedging instruments. As of December 31, 2023 and 2022, the representative market rates as computed and certified by the Superintendency of Finance (for the U.S. dollar which is the most representative foreign currency for Grupo Aval´s transactions) were Ps 3,822.05 and Ps. 4,810.20 per U.S. $1, respectively. |
Description of Accounting Policy for Operating segments [Policy Text Block] | 2.4 Operating segments An operating segment is a component of an entity which: a) Engages in business activities from which it can earn revenue and incur expenses (including revenue and expenses from transactions with other components of the same entity); b) Operating profit or losses are regularly reviewed by the chief operating decision maker, who decides on the resources allocation to the segment and assesses its performance and. c) Discrete financial information is available, Segment results that are reported to the Chief Operating Decision Maker (CODM) include items that are directly attributable to a segment as well as those that can be allocated on a reasonable basis. Management regularly evaluates the performance for each segment; Grupo Aval discloses information separately for each identified operating segment, meeting any of the following quantitative thresholds: a) The segment´s reported revenue from the ordinary activities, including revenue from external customers as well as revenue from intersegment transfers, is equal or greater than 10% of the revenue of combined ordinary activities, internal and external, of all operating segments. b) The amount of the segment´s reported net income is, in absolute terms, equal or greater than 10% of the amount greater of: (i) the combined reported net income of all the segments not reporting a loss; and (ii) the reported combined loss of all segments of the operations with incurred losses. c) The segment´s assets are equal to or greater than 10% of the combined assets of all segments of the operation. The information regarding other activities of the business of operating segments that do not have to be reported is combined and disclosed within the category of “Others”. |
Description of Accounting Policy For Financial Assets and Financial Liabilities [Policy Text Block] | 2.5 Financial assets and financial liabilities i. Recognition and initial measurement Grupo Aval initially recognizes loans and advances, deposits, debt securities issued and subordinated liabilities on the date on which they are originated. All other financial instruments (including regular-purchases and sales of financial assets) are recognized on the trade date, which is the date in which Grupo Aval becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is initially measured at fair value. Additionally, for instruments measured at amortized cost or FVOCI, transaction costs are added if directly attributable to its acquisition or issuance. ii. Classification Financial assets On initial recognition, a financial asset is classified as: amortized cost, FVOCI or FVTPL. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: ● The asset is held within a business model in which the objective is to hold assets to collect contractual cash flows; and ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt instrument is measured at FVOCI only if it meets both of the following conditions and is not designated as at FVTPL: ● The asset is held within a business model whose objective is achieved both by collecting contractual cash flows and selling the financial asset; and ● The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, Grupo Aval may irrevocably elect to present subsequent changes in fair value in Other Comprehensive Income (“OCI”). This election is made on an investment-by-investment basis. All other financial assets are classified and measured at FVTPL. Business model assessment Grupo Aval makes an assessment of the objective of a business model in which an asset is held at a portfolio level because this best reflects the way the business is managed, and information is provided to management. The information considered includes: ● The established policies and objectives for the portfolio and their actual application. In particular, whether management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets; ● How the performance of the portfolio is evaluated and reported to Grupo Aval’s management; ● The risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and ● The frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and its expectations about future sale activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of how Grupo Aval’s stated objective for managing the financial assets is achieved and how cash flows are realized. Financial assets that are held for trading, for which performance is evaluated on a fair value basis are measured at FVTPL because their objective is neither to collect contractual cash flows nor to collect contractual cash flows and sell the financial assets. Assessment whether contractual cash flows are solely payments of principal and interest (SPPI) For the purposes of this assessment, “principal” is defined as the fair value of the financial asset on initial recognition. “Interest” is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks (e.g. liquidity risk and administrative costs), as well as profit margin. In assessing whether the contractual cash flows are solely payments of principal and interest (SPPI), Grupo Aval considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. Upon assessment Group Aval considers: ● Contingent events that would change the amount and timing of cash flows; ● Leverage covenants; ● Prepayment and extension terms; ● Terms that limit Grupo Aval’s claim to cash flows from specified assets; and ● Features that modify consideration of the time value of money. Interest rates on certain commercial and consumer loans originated by Grupo Aval are pegged to standard variable rates generally used in each country where Grupo Aval operates and includes a spread. In Colombia, the standard variable rates are based on the DTF (rate interest calculated as the average for time deposits)s or the interbank rate (in Spanish Interés Bancario de Referencia), or “IBR” rates, both of which are calculated weekly by the Central Bank based on information collected from the Colombian financial system, plus a spread, and in the case of loans in foreign currency issued in Colombian entities and in other countries Grupo Aval uses SORF interest rates plus a spread. In these cases, Grupo Aval assesses whether the discretionary feature is consistent with the SPPI criteria by considering a number of factors, including whether: ● Borrowers are able to prepay the loans without significant penalties, ● Market competition ensures that interest rates are consistent between banks, and ● Any regulatory or customer protection framework is in place that requires banks to treat customers fairly. A prepayment feature is consistent with the SPPI criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable compensation for early termination of the contract. In addition, a prepayment feature is treated as consistent with this criterion if a financial asset is acquired or originated at a premium or discount to its contractual par amount, and the prepayment amount substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable compensation for early termination), and the fair value of the prepayment feature is insignificant upon initial recognition. Financial liabilities Grupo Aval classifies its financial liabilities, other than derivatives, financial guarantees and loan commitments, as measured at amortized cost. iii. Reclassifications Financial assets Financial assets are not reclassified subsequent to their initial recognition, except in the period after Grupo Aval’s entities changes their business model for managing financial assets. iv. Derecognition Financial assets Grupo Aval derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire (see also (v)), or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which Grupo Aval neither transfers nor retains substantially all of the risks and rewards of ownership but it does not retain control of the financial asset. At derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognized) and the sum of (i) the consideration received (including any new asset obtained less any new liability assumed) and (ii) any cumulative gain or loss that had been recognized in OCI is recognized in profit or loss. Any cumulative gain/loss recognized in OCI in respect of equity investment securities designated as at FVOCI is not recognized in profit or loss on derecognition of such securities, as explained in (2.10). Any interest in transferred financial assets that qualify for derecognition that is created or retained by Group Aval is recognized as a separate asset or liability. Grupo Aval enters into transactions whereby it transfers assets recognized on its Consolidated Statement of Financial Position but retains either all or substantially all of the risks and rewards of the transferred assets or a portion of them. In such cases, the transferred assets are not derecognized. Examples of such transactions are securities lending and sale-and-repurchase transactions. When assets are sold to a third party with a concurrent total rate of return swap on the transferred assets, the transaction is accounted for as a secured financing transaction similar to sale-and repurchase transactions, given that Grupo Aval retains all or substantially all of the risks and rewards of ownership of such assets. In transactions in which it neither retains nor transfers substantially all of the risks and rewards of ownership of a financial asset and it retains control over the asset, Grupo Aval continues to recognize the asset to the extent of its continuing involvement, determined by the extent to which it is exposed to changes in the value of the transferred asset. Financial liabilities Grupo Aval derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. v. Modifications of financial assets and financial liabilities Financial assets If the terms of a financial asset are modified, then Grupo Aval assesses whether the cash flows of the modified asset are substantially different. If the cash flows are substantially different, the contractual rights to cash flows from the original financial asset are deemed to have expired. In that case, the original financial asset is derecognized (see (iv)) and a new financial asset is recognized at fair value plus any eligible transaction costs. Any fees received as part of the modification are accounted for as follows: ● Fees that are considered in determining the fair value of the new asset and fees that represent reimbursement of eligible transaction costs are included in the initial measurement of the asset; and ● Other fees are included in profit or loss as part of the gain or loss on derecognition. If cash flows are modified when the borrower is in financial distress, the objective of the modification is usually to maximize recovery of the original contractual terms rather than to originate a new asset with substantially different terms. If Group Aval plans to modify a financial asset in a way that would result in foregoing of cash flows, it considers whether a portion of the asset should be written off before the modification takes place (see below for write ‑ If the modification of a financial asset measured at amortized cost or FVOCI does not result in derecognition of the financial asset, then Grupo Aval recalculates the gross carrying amount of the financial asset using the original effective interest rate of the asset and recognizes the resulting adjustment as a recovery or impairment in the Consolidated Statement of Income. For variable-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification are incorporated into the gross carrying amount of the modified financial asset and are amortized over the remaining term of the modified financial asset. Financial liabilities Grupo Aval derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognized in the Consolidated Statement of Income. If the modification of a financial liability measured at amortized cost does not result in derecognition of the financial liability, then Grupo Aval first recalculates the gross carrying amount of the financial liability using the original effective interest rate of the liability and recognizes the resulting adjustment as interest expense in the Consolidated Statement of Income. For variable-rate financial assets, the original effective interest rate used to calculate the modification gain or loss is adjusted to reflect current market terms at the time of the modification. Any costs or fees incurred, and fees received as part of the modification are incorporated into the gross carrying amount of the modified financial liability and are amortized over the remaining term of the modified financial liability. vi. Offsetting of financial assets and liabilities Financial assets and liabilities are offset, and the net amount is recognized in the Consolidated Statement of Financial Position, when there is a legally enforceable right to offset recognized amounts and management intends to settle them on a net basis or to realize the asset and settle the liability simultaneously. Income and expenses are presented on a net basis only when permitted under IFRS, or for gains and losses arising from a group of similar transactions such as Grupo Aval’s trading activity. vii. Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which Grupo Aval has access at that date. Grupo Aval measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price in an active market, Grupo Aval uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price – i.e. the fair value of the consideration given or received. If Grupo Aval determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any unobservable inputs are deemed to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized in the Consolidated Statement of Income on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out. Portfolios of financial assets and financial liabilities that are exposed to market risk and credit risk, managed by Grupo Aval on the basis of the net exposure to either market or credit risk are measured on the basis of a price that would be received to sell a net long position (or paid to transfer a net short position) for the particular risk exposure. Portfolio-level adjustments – e.g. bid-ask adjustment or credit risk adjustments that reflect the measurement on the basis of the net exposure – are allocated to the individual assets and liabilities on the basis of the relative risk adjustment of each of the individual instruments in the portfolio. The fair value of a financial liability with a demand feature (e.g. a demand deposit) is no less than the amount payable on demand, discounted from the first date on which the amount could be required to be paid. Grupo Aval recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. See Note 5. viii. Repurchase agreements and reverse repurchase agreements Purchases of financial instruments under a non-optional resale agreement are measured at fair value and recognized as financial assets in the Consolidated Statement of Financial Position under interbank and overnight funds. The excess of the purchase prices over the resale prices is recognized as interest income over the contractual term. Sales of financial instruments under a non-optional repurchase agreement are measured at fair value and recognized as liabilities in the Consolidated Statement of Financial Position under Interbank borrowings, overnight funds and borrowings from banks and others. The excess of the sales prices over the repurchase prices is recognized as interest expense over the contractual term. Retained interests (i.e. the assets that collateralize the repurchase agreements) are primarily classified as fair value through OCI and measured at fair value. ix. Impairment of financial assets Grupo Aval recognizes loss allowances for Expected Credit Losses – (“ECL”) on the following financial instruments that are not measured at FVTPL: ● Debt investment instruments; ● Loans and receivables; ● Financial guarantee contracts issued; ● Loan commitments issued, and ● Other accounts receivable No credit impairment loss is recognized on equity investments. Grupo Aval measures loss allowances at an amount equal to lifetime ECL (Stage 2 and stage 3), except the following cases, for which they are measured as 12-month ECL (Stage 1): ● Debt investment securities that are determined to have low credit risk at the reporting date; and ● Other financial instruments (other than loans and lease receivables) on which credit risk has not increased significantly – (“SICR”) since their initial recognition. Grupo Aval considers a financial asset is classified as a low credit risk asset if the issuer is related to an investment grade credit rating. 12-month ECL is the portion of ECL that results from default events on a financial instrument that are possible within the 12 months after the reporting date. Measurement of ECL Measurement of ECL is described in Note 4(4.1.5 Amounts arising from Expected Credit Loss (ECL)). Modified Financial Assets If the terms of a financial asset are renegotiated or modified or an existing financial asset is replaced with a new one due to financial distress of the borrower, an assessment is made of whether the financial asset should be derecognized (see (iv)) and ECL are measured as follows: ● If the restructuring is not expected to result in derecognition of the existing asset, then the expected cash flows arising from the modified financial asset are included in calculating the cash shortfalls from the existing asset (see Note 4(4.1.1)). ● If the restructuring is expected to result in derecognition of the existing asset, then the expected fair value of the new asset is treated as the final cash flow from the existing financial asset at the time of its derecognition. This amount is included in calculating the cash shortfalls from the existing financial asset that are discounted from the expected date of derecognition to the reporting date using the original effective interest rate of the existing financial asset. Credit-impaired financial assets At each reporting date, Grupo Aval assesses whether financial assets carried at amortized cost and at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: ● Significant financial difficulty of the borrower or issuer; ● A breach of contract such as a default or past due event; ● The restructuring of a loan or advance by Grupo Aval on terms that Grupo Aval’ entities would not consider otherwise; ● It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or ● The disappearance of an active market for a security because of financial difficulties. A loan that has been renegotiated due to a deterioration in the borrower’s condition is usually considered to be credit-impaired unless there is evidence that the risk of not receiving contractual cash flows has decreased significantly and there are no other indicators of impairment. In addition, a loan different to a mortgage that is overdue for 90 days or more is considered impaired. In making an assessment of whether an investment in sovereign debt is credit-impaired, Grupo Aval considers the following factors. ● The market’s assessment of creditworthiness as reflected in the bond yields. ● The rating agencies’ assessments of creditworthiness. ● The country’s ability to access the capital markets for new debt issuance. ● The probability of debt being restructured, resulting in holders suffering losses through voluntary or mandatory debt forgiveness; and ● The international support mechanisms in place to provide the necessary support as ‘lender of last resort’ to that country, as well as the intention, reflected in public statements, of governments and agencies to use those mechanisms. This includes an assessment of the depth of those mechanisms and, irrespective of the political intent, whether there is the capacity to fulfil the required criteria. x. Presentation of allowance for ECL in the Consolidated Statement of Financial Position Loss allowances for ECL are presented in the Consolidated Statement of Financial Position and the impact is showed in the Consolidated Statement of Income line “Impairment (losses) recoveries on financial assets” as follows: ● Financial assets measured at amortized cost: as a deduction from the gross carrying amount of the assets; ● Loan commitments and financial guarantee contracts: generally presented as provisions; ● Where a financial instrument includes both a drawn and an undrawn component, and Grupo Aval cannot identify the ECL on the loan commitment component separately from those on the drawn component: Grupo Aval presents a combined loss allowance for both components. The combined amount is presented as a deduction from the gross carrying amount of the drawn component. Any excess of the loss allowance over the gross amount of the drawn component is presented as a provision; and ● Debt instruments measured at FVOCI: no loss allowance is recognized in the Consolidated Statement of Financial Position because the carrying amount of these assets is their fair value. However, the ECL is disclosed and is recognized as part of the net change recognized in the fair value reserve under other comprehensive income. xi. Write-offs Loans and debt securities are written off (either partially or in full) when there is no prospect of recovery. This is generally the case when Grupo Aval determines that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to be written-off. Recoveries of amounts previously written off are included in “recovery of charged off financial assets” in the Consolidated Statement of Income. Financial assets that are written off could still be subject to enforcement activities in order to comply with Grupo Aval’s procedures for recovery of amounts due. The contractual amount outstanding on the financial assets that were written off during the reporting period are disclosed in note 4.1.5 Amounts arising from ECL; Loss Allowance reconciliation tables. |
Description of accounting policy for restricted cash and cash equivalents [text block] | 2.6 Cash and cash equivalents Cash and cash equivalents include cash, bank deposits, and other short-term investments with original maturities of three months or less from the date of their acquisition that are subject to an insignificant risk of changes in their fair value and are used by Grupo Aval in the management of its short-term commitments. |
Description Of Accounting Policy For Trading Assets And Liabilities [Text Block] | 2.7 Trading assets and liabilities ‘Trading assets and liabilities’ are those assets and liabilities that Grupo Aval mainly acquires or incurs for the purpose of selling or repurchasing in the near term or holds as part of a portfolio that is managed comprehensively for short-term profit or position taking. Trading assets and liabilities are initially recognized and subsequently measured at fair value in the Consolidated Statement of Financial Position, with transaction costs recognized in Consolidated Statement of Income. All changes in fair value are recognized as part of net trading income in Consolidated Statement of Income. |
Description of accounting policy for derivative financial instruments and hedging [text block] | 2.8 Derivatives a) Derivatives and hedge accounting A derivative is a financial instrument for which value changes respond to changes in one or more variables denominated as “underlying” (e.g. a specific interest rate, the price of a financial instrument, a listed commodity, a foreign currency exchange rate, etc.). A derivative requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors. Grupo Aval and its subsidiaries trades in financial markets, forward contracts, future contracts, swaps and options that fulfil the definition of a derivative. Financial assets and liabilities arising from transactions with derivatives are generally not offset in the Consolidated Statement of Financial Position. However, when there is a legal and exercisable right to offset the recognized values and Grupo Aval intends to settle them on a net basis or to realize the assets and settle the liability simultaneously, derivatives are presented as net values in the Consolidated Statement of Financial Position. Derivative transactions are initially recognized at fair value. Subsequent changes in the fair value are recognized in profit or loss, unless the derivative instrument is designated as a hedging instrument and, in this case, the accounting criteria will depend on the nature of the hedged item, as described below. At the beginning of the hedging transaction, Grupo Aval formally documents the existing relationship between the hedging instrument and the hedged item, including the risk management objective and strategy in undertaking the hedging relationship. It also documents its assessment, both initially as well as on a recurring basis, of whether the hedging relationship is highly effective in offsetting the changes in fair value or cash flows of the hedged items. The applicable policy for hedging and embedded derivatives is described below: (i) For fair value hedge of assets or liabilities and firm commitments, changes in the fair value of the derivative instrument are recognized in profit or loss, as well as any other change in the fair value of the asset, liability or firm commitment attributable to the hedge risk, (ii) For cash flow hedge of a particular risk associated with a recognized asset or liability or a projected highly probable transaction, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income. The gain or loss relating to the portion that is not effective for hedging or that does not relate to the hedged risk is immediately recognized in profit or loss. The values accumulated in other comprehensive income are transferred to profit or loss in the same period in which the hedged item is recognized in profit or loss; and (iii) Hedging of net investments in a foreign operation is recognized similarly to cash flow hedging: the effective portion of changes in fair value of the hedging instrument is recognized in other comprehensive income, and the ineffective portion of the changes in fair value of the derivative is recognized in profit or loss. The hedging instrument’s gains or losses accumulated in equity will be recognized in profit or loss when the net investment in foreign operations is sold or partially disposed of . b) Embedded derivatives Derivatives may be embedded in another contractual arrangement (a host contract). Grupo Aval accounts for an embedded derivative separately from the host contract when: ● The host contract is not a financial asset in the scope of IFRS 9; ● The host contract is not itself carried at FVTPL; ● The terms of the embedded derivative would meet the definition of a derivative if they were contained in a separate contract; and ● The economic characteristics and risks of the embedded derivative are not closely related to the economic characteristics and risks of the host contract. Separated embedded derivatives are measured at fair value, with all changes in fair value recognized in profit or loss unless they form part of a qualifying cash flow or net investment hedging relationship. Separated embedded derivatives are presented in the Consolidated Statement of Financial Position together with the host contract. |
Description of accounting policy for loans [policy text block] | 2.9 Loans The ‘Loans’ line item in the Consolidated Statement of Financial Position include: ● Loans measured at amortized cost (see 2.5(ii)); they are initially measured at fair value plus incremental direct transaction costs, and subsequently at their amortized cost using the effective interest method; ● Financial lease receivables measured at amortized cost (see 2.5(ii)). When Grupo Aval purchases a financial asset and simultaneously enters into an agreement to resell the asset (or a substantially similar asset) at a fixed price on a future date (reverse repo or stock borrowing), the arrangement is accounted for as a loan, and the underlying asset is not recognized in Grupo Aval’s Consolidated Financial Statements. The effective interest rate method is a method of calculating the amortized cost of a financial asset and allocating the interest income or expense over the relevant period. The effective interest rate is the rate that discounts future cash payments or receipts (without consideration of future credit losses, over the expected life of the financial instrument) to the net carrying amount of the financial asset at initial recognition. In the process of calculating the effective interest rate, Grupo Aval estimates the cash flows considering the contractual terms including prepayment expectations of the financial instrument for portfolios with high prepayment levels, except for future credit losses and considering the initial fair value plus transaction costs and premiums granted, minus commissions and discounts received which form integral part of the effective rate. |
Description of accounting policy for investment in associates and joint ventures [text block] | 2.10 Investment securities The ‘investment securities’ line in the Consolidated Statement of Financial Position includes: ● Debt investment securities measured at amortized cost (see 2.5(ii)); These are initially measured at fair value plus incremental direct transaction costs, and subsequently at their amortized cost using the effective interest method; ● Debt and equity investment securities mandatorily measured at FVTPL (see 2.5(ii)); These are at fair value with changes recognized immediately in profit or loss; ● Debt securities measured at FVOCI; and ● Equity investment securities designated as at FVOCI. For debt investment securities measured at FVOCI, gains and losses are recognized in OCI, except for the following, which are recognized in profit or loss in the same manner as for financial assets measured at amortized cost: ● Interest revenue using the effective interest method; ● ECL impairments and reversals of impairments; and ● Foreign exchange gains and losses. When a debt security measured at FVOCI is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity and recognized as profit or loss in the Consolidated Statement of Income under “Other income” under line “net gain (loss) on sale of debt securities”. Grupo Aval elects to present changes in the fair value of certain investments in equity instruments that are not held for trading in OCI. The election is made on an instrument-by-instrument basis on initial recognition and is irrevocable. Gains and losses on such equity instruments are never reclassified to profit or loss and no impairment is recognized in profit or loss. Cumulative gains and losses recognized in OCI are transferred to retained earnings upon disposal of an investment. Dividends are recognized in profit or loss unless they clearly represent a recovery of part of the cost of the investment, in which case they are recognized in OCI. After initial recognition, net gains and losses resulting from changes in fair value for financial assets classified and measured at fair value, are presented either (i) in the Consolidated Statement of Income in the account “net trading income - trading investment securities” for financial assets at FVTPL or (ii) in OCI for financial instruments at FVOCI, in accordance with note 2.5 ii) above. In turn, after their initial recognition, financial assets classified at amortized cost are adjusted to reflect interest accrued at the effective interest rate method, less payments received from borrowers. See detail of effective interest rate method in note 2.9 Loans Income from dividends from financial assets in equity instruments at FVOCI is recognized in income in the account of “other income dividends” when the right to receive payment is established, regardless of the decision that has been made to record the variations in fair value in results or OCI. |
Description of accounting policy for financial liabilities [text block] | 2.11 Financial liabilities A financial liability is any contractual liability in which Grupo Aval commits to deliver cash or other financial asset to another entity or person, or to exchange financial assets or financial liabilities under potentially unfavorable conditions for Grupo Aval, or a contract which will be terminated or could be settled using equity instruments owned by the entity. Financial liabilities are initially recognized based on their fair value, which is usually equal to the transaction value adjusted by directly attributable costs. Subsequently, such financial liabilities are measured at their amortized cost according to the effective interest rate method determined at initial recognition and recognized in profit or loss. Financial liabilities are only derecognized from the Consolidated Statement of Financial Position when the obligations are extinguished, that is, when the obligations are discharged, cancelled, or expire. |
Description of accounting policy for financial guarantees [text block] | 2.12 Financial guarantees Financial guarantees are those contracts requiring that the issuer carries out specific payments to reimburse the creditor for losses incurred when a specific debtor defaults in its payment obligation, in accordance with the original or modified conditions, of a debt instrument; regardless of its legal form. Financial guarantees issued or commitments to provide a loan at a below-market interest rate are initially measured at fair value. Subsequently, they are measured: ● As at the highest value between the amount initially recognized net of the loss allowance determined in accordance with IFRS 9 (see 2.5 (vii)) and the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with the principles of IFRS 15. Credit risk impairment losses established over financial guarantee contracts under IFRS 9, are recognized as liabilities under “Provisions – other provisions” and recognized in profit or loss under “other expenses”, see note 2.5 ix “Impairment of financial assets in the Consolidated Statement of Financial Position”. |
Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block] | 2.13 Non-current assets held for sale and discontinued operations Foreclosed assets and non-current assets held for sale, which Grupo Aval intends to sell in a period of less than one year, and it is considered highly probable that their value will be recovered primarily through sale rather than through continuing use, are recognized as "non-current assets held for sale". These assets are measured at the lower of their carrying value at the time of transfer and fair value, less estimated disposal costs. A discontinued operation is a component of the entity that has been disposed of or is classified as held for sale and that represents a separate major line of business or geographical area of operations, is part of a single co-ordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operations are presented separately in the Consolidated Statement of Income. |
Description of accounting policy for property, plant and equipment [text block] | 2.14 Property, plant and equipment for own use Property, plant and equipment include the assets, owned or under financial leases held by Grupo Aval for current or future use for more than one period. They are recognized in the Consolidated Statement of Financial Position at their acquisition or construction cost, less the corresponding accumulated depreciation and, if applicable, the estimated impairment losses resulting from comparing the carrying amount of each asset with its recoverable value. Depreciation is calculated by applying the straight-line method over the acquisition cost of the assets (except for the bearer plants, which are depreciated based on production units), less any residual value; land is not depreciated. Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. Asset Useful Life Own use buildings According to appraisals Equipment, furniture and accessories From 3 to 10 years Machinery and equipment (*) From 5 to 25 years Computer equipment From 3 to 12 years Vehicles From 5 to 10 years Bearer plants From 25 to 35 years (*) Conservation and maintenance expense is recognized when incurred as “Administrative Expense”. At each reporting date, the Group analyzes whether there are signs, that an asset may be impaired for such purposes, develops what is established in policy 2.21 "Impairment of non-financial assets". A bearer plant is a live plant that meets the following requirements: a) It is used for the manufacturing or supply of agricultural products; b) It is expected to produce for more than one period; and c) It has a remote probability of being sold as an agricultural product, except for irregular sales related to thinning and trimming. Bearer plants under the set-up and growing phase are subject to a biological transformation which is reflected through cost accumulation until they reach their maturity level. In the case of the African oil palm, maturity is reached in the second year, while maturity for rubber plants is reached in the seventh year. After reaching their maturity, bearer plants are considered developed and the future economic benefits arise from the sale of the fruit produced during the useful life of the plant. Bearer plants are measured at their cost less accumulated depreciation and any impairment losses. The useful life is equal to the plants´ production periods. The useful life of the rubber plant is 35 years while the useful life of the African oil palm is 25 years. The depreciation method used is the estimated production units as it most accurately reflects the usage of the assets If the bearer plant is sold for timber at the end of the useful life the value received is considered the residual value of the asset. |
Description of accounting policy for investment property [text block] | 2.15 Investment properties Land and buildings, considered in whole or in part, that are held to earn rental income or for capital appreciation, rather than for own use or sale in the ordinary course of business. Investment properties are recognized initially at cost, including all costs associated with the transaction, and subsequently measured at fair value, with changes in fair value recognized in profit or loss. |
Description of accounting policy for leases [text block] | 2.16 Leases Lessee accounting At inception of a contract, Grupo Aval assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group uses the definition of a lease in IFRS 16. Grupo Aval recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove any improvements made. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. Grupo Aval determines its incremental borrowing rate by analyzing its borrowings from various external sources and makes certain adjustments to reflect the terms of the lease and type of asset leased. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset; or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. Grupo Aval presents right-of-use assets in ‘Tangible assets’ and lease liabilities in ‘Borrowings from banks and others’ in the Consolidated Statement of Financial Position. Short-term leases and leases of low-value assets Grupo Aval has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Grupo Aval recognizes the lease payments associated with these leases as an expense in profit or loss on a straight-line basis over the lease term. Lessor accounting When Grupo Aval acts as a lessor, it determines at lease inception whether the lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for a major part of the economic life of the asset. Lease contracts classified as financial leases are included in the Consolidated Statement of Financial position as “Loans” and are recognized in the same way as other loans, as explained in note 2.9. |
Description of accounting policy for biological assets [text block] | 2.17 Biological assets Biological assets; are measured at fair value less disposal cost, both at the time of initial recognition and at the end of reporting period, except for biological assets for which fair value cannot be measured reliably; in which case they are measured at cost less accumulated depreciation and impairment loss. Gains and losses arising from the initial and subsequent fair value measurement of the agricultural products are included in the Consolidated Statement of Income. Costs incurred in the agricultural production process are also recognized directly in the Consolidated Statement of Income. The fair value of biological assets is determined using valuations performed by experienced internal professionals, using discounted cash flow models. The expected cash flows of the crop’s total life are determined by using the market price of the agricultural product currently in effect and the estimated productive life of plants, net of maintenance and harvest costs and of any other costs required for plant maintenance during the production period. The productive life of plants is estimated considering the age, location and type of product. The fair value of the biological assets is dependent on current market prices for each product. |
Description of accounting policy for business combinations and goodwill [text block] | 2.18 Business combinations and goodwill Business combinations are accounted for using the “acquisition method” when control is transferred to the controlling entity. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Goodwill is measured as the excess of the aggregate of consideration transferred, over the amount of any interest previously acquired and the net of identifiable assets acquired and liabilities assumed at acquisition date. Goodwill acquired in a business combination is assigned to each of the groups of cash-generating units from which benefit are expected as a result of the acquisition. Goodwill is not subsequently amortized; however, it is subject to an annual impairment assessment in relation to the cash-generating unit to which it has been assigned and, from which benefits are expected deriving from the synergies of business combinations. A loss due to impairment recognized on Goodwill cannot be reversed in subsequent periods. |
Description of accounting policy for intangible assets other than goodwill [text block] | 2.19 Other intangible assets Other intangible assets mainly comprise software and licenses, which are initially measured at the cost of acquisition or cost of development. Costs incurred during the research phase are expensed as incurred. Development expenses which are directly attributable to design and performance tests of software and identifiable, unique and controlled by Grupo Aval are recognized as intangible assets, if following conditions are met: ● Technically, it is possible to complete the intangible asset production, so it can be available for use; ● Management intends to complete the corresponding intangible asset for use; ● Management has the capacity of using the intangible asset; ● It is probable that future economic benefits that are attributable to the asset will flow to the entity; ● There is availability of adequate technical or financial resources or other type, for completion and usage of the intangible asset; and ● Costs attributable to the intangible asset during its development phase can be estimated and measured in a reliable manner. Costs that are directly attributable and capitalized as part of intangible assets include personnel expense directly related to developing such intangibles and overhead expenses that can be capitalized. Expenses that do not satisfy these criteria are recognized as incurred expenses. Disbursements over intangible assets are initially recognized as expenses of the period and they are not subsequently recognized as intangible assets. After initial recognition, an intangible asset shall be carried at its cost less any accumulated amortization and any accumulated impairment losses. The annual amortization rates estimate for each type of assets are: Intangible Asset Useful Life Software and information technology applications From 1 to 20 years Licenses From 1 to 15 years Trademarks Indefinite Customer-related assets From 1 to 10 years Intellectual property rights From 1 to 20 years Models, formulas, designs and prototypes 10 years Easements From 20 to 50 years At the end of each period, the Group will test whether an intangible asset with an indefinite useful life has experienced an impairment loss by comparing its recoverable amount with its carrying amount on an annual basis and not only when there are indications of impairment. Likewise, that the useful life of an intangible asset that is not being amortized will be reviewed every period to determine if there are facts and circumstances that allow continuing to maintain an indefinite useful life for that asset. Any impairment loss or subsequent reversal is recognized in the Consolidated Statement of Income; Such impairment is determined by the excess of the book value over the recoverable value. |
Description of accounting policy for service concession arrangements [text block] | 2.20 Concession arrangements rights Concession contracts, are those in virtue of which certain subsidiaries of Grupo Aval make a commitment with the Governments in the countries in where they operate for the construction or maintenance of infrastructure, for a period of time during which, said entities receive the revenue derived from the contract, either through direct payments from the Government, through tolls or other types of fees charged to the end users of the project, which, are recognized as financial assets or intangible assets. A financial asset is recognized when pursuant to the contractual conditions, there is an entitlement to an unconditional contractual right of receiving cash or other financial assets from the grantor or from the Government, due to construction services or when the Government guarantees minimum income from tolls or fees charged to the users of the concession work during the term of the concession agreement. An intangible asset is recognized if in the concession contract does not include an unconditional right for the concessionaire to receive cash and, on the contrary, its revenue depends on the right it has for the use of the infrastructure under concession. In some cases, contracts can contain both financial and intangible assets. Concession arrangements are recognized as follows: (a) During the construction stage, all estimated income for construction services as well as the costs associated to the construction are recognized in the Consolidated Statement of Income based on the stage of completion of the work performed. In the event that there is an expected loss, this is recognized as an expense immediately. (b) If all or part of the concession arrangement is classified as a financial asset, it is recognized in accordance with the accounting policy for financial assets as set out in note 2.5. (c) If all or part of the concession contract is classified as an intangible asset, the revenues are accumulated as intangible assets during the construction phase of the project, assets and are amortized over the term of the arrangement in a manner that reflects the pattern in which the concession asset’s economic benefits are consumed by the entity, from the moment the asset enters into service. |
Description of accounting policy for impairment of non-financial assets [text block] | 2.21 Impairment of non-financial assets At each reporting date, Grupo Aval reviews the carrying amounts of its non-financial assets (other than investment properties and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill is tested annually for impairment. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that is largely independent of the cash inflows of other assets or Cash Generating Units (CGU). Goodwill arising from a business combination is allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the combination. The “recoverable amount” of an asset or CGU is the greater of its value in use and its fair value less costs to sell. “Value in use” is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or cash generating units “CGU”. An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss of goodwill cannot be reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. |
Description of accounting policy for employee benefits [text block] | 2.22 Employee Benefits Grupo Aval´s entities provide the following benefits to employees in exchange of services rendered to the Group: a) Short-term employee benefits Pursuant to Colombian and other countries labor rules, such benefits are comprised of salaries, premiums, vacations, severance payments and payroll tax contributions to the local Government designated agencies which are paid within 12 months following the end of the reporting period. Such benefits are accumulated on an accrual basis and recognized in profit or loss. b) Post-employment benefits (defined benefit plans) Grupo Aval pays to its employees certain benefits when they retire or upon completion of their employment period, other than indemnities. These benefits include retirement pensions which are directly assumed by Grupo Aval’s entities, pending severance payments to employees belonging to the labor regime prior to Law 50 1990 in Colombia, and certain extra-legal benefits or benefits agreed in collective bargaining agreements. Post-employment benefits liabilities are determined based on the present value of estimated future payments, calculated based on actuarial assessments using the projected unit of credit method, and applying actuarial assumptions about mortality rate, increase of salaries and personnel turnover, and interest rates determined with reference to bond market returns of local Government’ bonds or high-quality business liabilities in effect at the reporting date. Under the projected unit of credit method, future benefits to be paid to employees are assigned to each accounting period in which the employee renders the service. Therefore, the corresponding expense due to these benefits recognized in profit or loss of Grupo Aval includes the present service cost assigned in the actuarial calculation plus the financial cost of calculated liabilities. Changes in liabilities due to changes in actuarial assumptions are recognized in Other Comprehensive Income. Changes in actuarial liabilities due to changes in employment benefits granted to employees that have a retroactive effect are recognized as an expense in the earlier of the following dates: ● When a modification of the granted employment benefits takes place, or ● When provisions for restructuring costs are recognized by a subsidiary. c) Other long-term employee benefits Long term benefits are different from employee short-term benefits, post-employment benefits and termination benefits. In accordance with the collective bargaining agreements and regulations of each company of Grupo Aval, such benefits are mainly related to seniority bonuses. Long-term liabilities for employee benefits are determined in the same manner as post-employment benefits described in item (b) above; the only difference is that the changes in the actuarial liability due to changes in the actuarial assumptions are recognized in profit or loss. d) Termination benefits These benefits are payments which must be made by Grupo Aval´s entities derived from their taking the unilateral decision of terminating and employee´s labor contract or from and employee´s decision to accept benefits offered by an entity in exchange for terminating the employment contract, such payments correspond to severances for dismissal or redundancy and other benefits that entities unilaterally decide to grant to their employees under such circumstances. Termination benefits are recognized as a liability and in profit or loss at the earlier of the following dates: ● When Grupo Aval´s entities formally inform to the employee about its decision of dismissal; or ● When provisions for restructuring costs are recognized by a subsidiary. |
Description of accounting policy for income tax [text block] | 2.23 Income taxes Income tax expense includes both current and deferred tax. Tax expense is recognized in profit or loss except for items recognized in Other Comprehensive Income or directly in equity. Current income tax expense is calculated based on the tax laws in force (enacted or substantively enacted) in each of the countries in which we operate as of the reporting date of the Consolidated Financial Statements is subject to the income tax. Management of each subsidiary of Grupo Aval periodically assesses tax return positions with respect to situations where the applicable tax regulation is subject to interpretation and establishes provisions, when appropriate, on the basis of amounts expected to be paid to tax authorities. Deferred taxes are recognized with respect to temporary differences arising between carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. Deferred taxes are not recognized for: (i) temporary differences on the initial recognition of goodwill; (ii) temporary differences on the initial recognition of an asset or liability in a transaction that is not a business combination and that affects neither the accounting nor the taxable profit or loss and (iii) temporary differences related to investments in subsidiaries to the extent that it is probable that they will not reverse in the foreseeable future. Deferred taxes are measured using the tax rates that are expected to be applied to the temporary differences upon reversal, using enacted tax rates or substantively enacted at the reporting date. Deferred taxes assets are only recognized to the extent it is probable that future taxable income is expected to be available to offset temporary differences. Deferred tax liabilities arise from taxable temporary differences, except for the deferred tax liabilities on investments in subsidiaries, when the opportunity of reversal of temporary differences is controlled by Grupo Aval and it is not expected to be reversed in the near future. Generally, Grupo Aval has the ability to control the temporary differences of investments in associates. Current taxes are offset only when the entity has a legally enforceable right to offset and the entity intends to either settle on a net basis or to realize the asset and settle the liability simultaneously. Deferred taxes are offset when the entity has a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred tax assets and liabilities are related to income taxes levied by the same tax authority over the same taxable entity or over different entities but these entities have an intention to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously, for each period in which these differences reverse. In determining the amount of current and deferred taxes, Grupo Aval considers the impact of uncertain tax exposures on current tax liabilities, including whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes Grupo Aval to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities would impact tax expense in the period in which such a determination is made. |
Description of accounting policy for borrowing costs [text block] | 2.24 Capitalization of borrowing costs Borrowing costs which are directly attributable to the acquisition, construction or production of a qualifying asset which requires a substantial period of time to get ready for its intended use are part of the cost of the asset. Other borrowing costs are recognized as expenses. Grupo Aval begins capitalizing borrowing costs as part of the cost of a qualifying asset on the commencement date. This is the date when the entity first meets all of the following conditions: (a) it incurs expenditures for the asset; (b) it incurs borrowing costs; and (c) it undertakes activities that are necessary to prepare the asset for its intended use or sale. |
Description of accounting policy for provisions [text block] | 2.25 Provisions Provisions for environmental dismantling and recovery, restructuring costs and legal claims are recognized when Grupo Aval has a present legal or assumed obligation as a result of past events, and it is probable that an outflow of economic benefits will be required to settle the obligation. Restructuring provisions include penalties due to cancelation of leases. Provisions are measured at the present value of outflows expected to be necessary to settle the obligation, using a discount rate before taxes, reflecting the assessments of the time value of money of the current market as well as the specific risks of the obligation. The subsequent increase of the provision due to the unwinding of the discount rate is recognized as “financial expense”. |
Disclosure Of Accounting Policy For Nonvoting Rights Of Preferred Shares Explanatory [Text Block] | 2.26 Non-voting rights of preferred shares Preferred shares represent partial ownership and do not provide shareholders with any of the voting rights of common shares. Grupo Aval has classified as an equity instrument all the non-voting preferred shares. See note 25 equity attributable to owners of the parent. |
Description of accounting policy for recognition of revenue [text block] | 2.27 Revenues ● Net interest income (i) Effective interest rate Interest income and expense are recognized in the Consolidated Statement of Income using the effective interest method. The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to: ● The gross carrying amount of the financial asset; or ● The amortized cost of the financial liability. When calculating the effective interest rate for financial instruments other than credit-impaired assets, Grupo Aval estimates future cash flows considering all contractual terms of the financial instrument, but not expected credit losses. For credit-impaired financial assets, a credit-adjusted effective interest rate is calculated using estimated future cash flows including expected credit losses. The calculation of the effective interest rate includes transaction costs and fees and points paid or received that are an integral part of the effective interest rate. Transaction costs include incremental costs that are directly attributable to the acquisition or issue of a financial asset or financial liability. (ii) Amortized cost and gross carrying amount The ‘amortized cost’ of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured on initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any expected credit loss allowance. The ‘gross carrying amount’ of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit loss allowance. (iii) Calculation of interest income and expense In calculating interest income and expense, the effective interest rate is applied to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortized cost of the liability to calculate the interest income and expenses. However, for financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortized cost of the financial asset. If the asset is no longer credit-impaired, then the calculation of interest income reverts to the gross basis. For financial assets that were credit-impaired on initial recognition, interest income is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the asset. The calculation of interest income does not revert to a gross basis, even if the credit risk of the asset improves. For information on when financial assets are credit-impaired, see note 2(2.5) (ix). (iv) Presentation Interest income and expense presented in the Consolidated Statement of Income include: ● Interest on financial assets and financial liabilities measured at amortized cost calculated on an effective interest basis, see note 2.27 (i); ● Interest on debt instruments measured at FVOCI calculated on an effective interest basis see note 2.27 (i); Interest income and expense on all trading assets and liabilities are considered to be incidental to Grupo Aval’s trading operations and are presented together with all other changes in the fair value of trading assets and liabilities in net trading income. Interest income and expense on other financial assets and financial liabilities mandatory at FVTPL are presented in “Net trading income” and financial assets in concessions arrangements rights at FVTPL under “Net income from other financial instruments mandatorily at fair value through profit or loss”. ● Net trading income ‘Net trading income’ comprises net gains or losses related to held for trading assets and liabilities, and includes all realized and unrealized fair value changes, interest, dividends and foreign exchange differences. ● Revenue from contracts with customers (other than interest income). Contract assets A contract asset is Grupo Aval’s right to consideration in exchange for goods or services that Grupo Aval has transferred to a customer when that right is conditional on something other than the passage of time (for example, invoicing or delivery of other elements of the contracts). Contract costs eligible for capitalization as incremental costs of obtaining a contract are recognized as a contract asset. Contract costs are capitalized when are incurred if Grupo Aval expects to recover those costs. Contract costs are amortized on a systematic basis consistent with the transfer of the services to the customer and the related revenues are recognized. Contract costs capitalized are impaired if the customer retires or if the asset’s carrying amount exceeds projected discounted cash flows relating to the contract. Contract liabilities Contract liabilities comprise Grupo Aval’s obligation to transfer goods or services to a customer for which Grupo Aval has received consideration from the end customer or the amount is due. Additionally, it includes deferred income relating to goods or services that will be delivered in the future, which are charged to a customer in advance but not yet due. Steps for revenue recognition Grupo Aval recognizes revenue from contracts with customers based on a five-step model as set out in IFRS 15: ● Step 1. Identify contract(s) with a customer: A contract is defined as an agreement between two or more parties that creates enforceable rights and obligations and sets out the criteria for every contract that must be met. Contracts can be written, oral or implied by an entity’s customary business practices. ● Step 2. Identify performance obligations in the contract: A performance obligation is a promise in a contract with a customer to transfer a good or service to the customer. ● Step 3. Determine the transaction price: The transaction price is the amount of consideration to which Grupo Aval expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. ● Step 4. Allocate the transaction price to the performance obligations in the contract: For a contract that has more than one performance obligation, Grupo Aval allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which Grupo Aval expects to be entitled in exchange for satisfying each performance obligation. ● Step 5. Recognize revenue when (or as) Grupo Aval satisfies a performance obligation. Grupo Aval satisfies a performance obligation and recognizes revenue over time, if one of the following criteria is met: a) Grupo Aval´s performance does not create an asset with an alternate use to Grupo Aval, and Grupo Aval has as an enforceable right to payment for the performance completed to date. b) Grupo Aval´s performance creates or enhances an asset that the customer controls as the asset is created or enhanced. c) The customer simultaneously receives and consumes the benefits provided as Grupo Aval´s performs its obligation. For performance obligations where one of the above conditions are not met, revenue is recognized at the point in time at which the performance obligation is satisfied. When Grupo Aval satisfies a performance obligation by delivering the promised goods or services it creates a contract asset on the amount of consideration earned by the performance. Where the amount of consideration received from a customer exceeds the amount of revenue recognized this gives rise to a contract liability. Revenue is measured based on consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. Grupo Aval recognizes revenue when it transfers control over a good or service to a customer. Revenue is presented net of value added tax (VAT), rebates and discounts and after eliminating intra-group sales. Grupo Aval assesses its revenue arrangements to determine if it is acting as principal or agent. Revenue is recognized to the extent it is probable that the economic benefits will flow to Grupo Aval and the revenue and costs, if applicable, can be measured reliably. The following is a description of principal activities from which Grupo Aval generates revenue from contracts with customers: (i) Banking (Financial Services) Grupo Aval often enter into contracts that cover a number of different services. Such contracts might contain components within, and components outside, the scope of IFRS 15. Therefore, Grupo Aval only applies the IFRS 15 guidance where it has contracts that are all or partly outside the scope of IFRS 9. The main revenue streams earned by the banks from contracts with customers are the following: ● Commissions Banks receive bancassurance commissions for introducing new clients to third party insurers, where the bank does not underwrite the insurance policy itself. These commissions are usually paid periodically (for example, monthly) to banks based on the volume of new policies (and/or renewal of existing policies) originating from clients introduced by the bank. The transaction price might include an element of consideration that is variable or contingent on the outcome of future events, such as policy cancellations, which is estimated and included in the transaction price based on the most likely amount only when it is highly probable that the resolution of the uncertainty will not result in a significant reversal of revenue. Performance obligations are fulfilled over time, taking into account that customers (insurers) receive benefits as time progresses. Where the commission calculation is made on a monthly basis or in a shorter period, the total amount of the commission is recognized in the results when its determination is made. If the settlement of commissions is defined in periods longer than a monthly basis, the expected income to recognize revenues is estimated as time progresses. Loan commitment fees are within the scope of IFRS 15 when it is unlikely that a specific lending arrangement will be entered into and the loan commitment is not measured at FVTPL. Loan syndication fees received by a bank that arranges a loan and retains no part of the loan package for itself (or retains a part at the same Effective Interest Rate “EIR” for comparable risk as other participants) are within the scope of IFRS 15. Income from performance obligations to provide such services, which are met at a point in time, are recognized when the particular event defined in the contracts occurs (e.g., approval of the syndicated loan). The obligations met over time are recognized during the period of the commitment; If income is received in advance, it is deferred over the period of the commitment. If income is received upon expiration, it is estimated periodically. ● Credit cards: Interchange fees, Annual-quarterly-monthly fees, Loyalty programs There are contracts that create enforceable rights and obligations between the Bank and the cardholders or merchants under which the bank will provide services, sometimes in exchange for annual and other fees. The following are some of the services that might exist in a contract with a cardholder: ● Issuance of loyalty points (which are options to acquire goods/services for free or at a discount in the future), usually based on the monetary volume of card transactions; ● Payment processing service; ● Insurance where the bank is not the insurer; ● Fraud protection; and ● Processing of certain transactions, such as purchases in a foreign currency and Advances. The transaction price is allocated to each performance obligation based on the relative stand-alone selling prices of the goods or services being provided to the customer. The allocation of the transaction price to each of the separate performance obligations will not necessarily be required where there is more than one performance obligation and the performance obligations all satisfied at the same time or evenly over the period. Performance obligations are fulfilled over time, taking into account that customers receive benefits as time goes on. Given that the entity's efforts or resources are expended evenly throughout the performance period, income is recognized on a linear basis during the period defined under the credit card conditions. The costs of plastic or security elements are capitalized as contract signing costs. In connection with Grupo Aval the credit and debit card processing fee, customers receive benefits every time they make purchases. In this context, income is recognized periodically (daily or monthly) on the basis of the amounts traded. Income that would be deferred by the valuation of the points granted for customer loyalty programs to the cardholders will be extracted from the total amount of commissions recorded periodically. See section (vi) Customer loyalty program below. ● Savings and checking accounts: Account and transaction fees Savings and checking accounts contracts usually allow customers access to a variety of services, including wire transfer processing, ATM use for cash withdrawals, issuance of debit cards, and account statements; they might also include other benefits. Fees are charged on a periodic basis and give the customer access to banking services and additional benefits. Performance obligations are fulfilled over time, taking into account that customers receive benefits as time progresses. As a result, banks recognize fees from providing services in the accounting period in which the services are rendered. ● Investment banking: Underwriting fees and Advisory fees Advisory contracts with customers are not standardized. These contracts might differ between customers, and they often include variable consideration, including contingent fees, that are only payable upon meeting agreed milestones. Income from performance obligations to provide such services, which are met at a point in time, are recognized when the particular event defined in the contracts occurs. The obligations met over time are recognized considering method of milestones achieved (when only one milestone that considers the delivery of results, income is recognized at a single moment when the final delivery is made.) (ii) Asset management Revenues of asset portfolios management correspond to fees which arise from the rendering of management and advisory services and usually are measured based on performance and profit of asset portfolios of asset portfolios, which are recognized based on amounts calculated under the formulas established by the contracts when such amount is no longer subject to adjustments resulting from future events. If the fee expected is variable, the variable consideration included in the transaction price is limited to the amount for which it is highly probable that a significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. In the estimation, Grupo Aval considers both the likelihood and the magnitude of the revenue reversal. Factors that could increase the likelihood or the magnitude of a revenue reversal include, but are not limited to, (i) the amount of consideration is highly susceptible to factors outside the entity’s influence, (ii) the uncertainty about the amount of consideration is not expected to be resolved for a long period of time, and (iii) the contract has a large number and broad range of possible consideration amounts. Fees are often based on net assets under management or returns generated by the underlying investments held by the funds subject to certain thresholds. The contractual measurement period for performance fees of fund managers is often a month, quarter or year, and in some rare cases longer. In some cases, the fees will be constrained until the contractual measurement period is completed. The Group assess if there is a portion (a minimum amount) of the variable consideration that should be recognized prior to the end of the contractual measurement period. The full amount of the fee will likely be recognized as of the end of the contractual measurement period when the asset manager becomes certain of the amount. In certain cases, the full amount of the fee will be recognized upon redemption when is no longer subject to reversal. (iii) Construction and operation services (Concessions) In concession arrangements, Grupo Aval determines that its performance obligations (construction, operation and maintenance) are satisfied over time and measures progress toward completion to determine the timing of revenue recognition using a method that depicts the transfer of the goods or services to the customer. Grupo Aval considers the nature of the product or services provided and the terms of the contract, such as termination rights, the rights to demand or retain payments, and the legal title to work in process in determining the best input or output method for measuring progress toward satisfaction of the performance obligation. Estimations of revenues, costs or progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management. (iv) Power and utilities Contracts between a customer and a public utility company establish the rates and terms of service for the purchase, delivery, and sale of electricity or gas. Grupo Aval determines that its obligation is represented in a single performance obligation which is to sell electricity or gas, and it is satisfied over time (over the term of the agreement) through a series of distinct goods or services that are substantially the same and have the same pattern of transfer to the customer. Some contracts include multiple deliverables, such as the installation of fixtures or repairs, which are accounted as separate performance obligations. The transaction price is allocated to each performance obligation based on the stand-alone selling prices (regulated rates). If contracts include the installation of fixtures, the associated revenue is recognized at the point in time when goods are installed, the ownership has been transferred and the customer has accepted the goods. (v) Logistic activities Grupo Aval´s transport and logistics companies offer multiple products or services to their customers as part of a single agreement. Separate performance obligations are identified in an agreement based on the terms of the contract and Grupo Aval's usual business practices. Revenue recognition criteria generally applies separately to each performance obligation. In certain circumstances, it may be necessary to separate a transaction into identifiable components to reflect the content of the transaction. It may be necessary to group two or more transactions when they are linked in such a way that the commercial effect cannot be understood without reference to the series of transactions as a whole. The transaction price is assigned to performance obligations separately in a contract based on the relative independent selling price of each separate performance obligation. (vi) Customer loyalty program Financial entities and hotels of Grupo Aval manage loyalty programs in which the customers accumulate points for their purchases, entitling them to redeem such points for prizes in accordance with the policies and the prize plan in force as of the redemption date. Reward points are recognized as an identifiable component separate from income for the service rendered, at their fair value. Income from loyalty programs is deferred and recognized in the Consolidated Statement of Income until the entity has fulfilled its obligations to supply the products under the terms of the program or when it is no longer probable that the points under the program will be redeemed. Grupo Aval acts as the principal in a customer loyalty program if it obtains control of the goods or services of another party in advance of transferring control of those goods or services to a customer. Grupo Aval is an agent if its performance obligation is to arrange for another party to provide the goods or services. (vii) Hotel services Revenue is derived from the following sources: i) Management fees: earned from hotels managed by Grupo Aval, usually under long-term contracts with the hotel owner. Management fees include a base fee, generally a percentage of hotel revenue, which is recognized when earned in accordance with the terms of the contract and an incentive fee, generally based on the hotel’s profitability or cash flows and recognized when the related performance criteria are met under the terms of the contract. ii) Owned and leased: primarily derived from hotel operations, including the guests accommodation and sales of food and beverage from owned and leased hotels operated under Grupo Aval brand names. Revenue is recognized at the point when the goods are sold or services are rendered. (viii) Agriculture products Grupo Aval grows and sells agricultural products through companies owned by Corficolombiana. Sales are recognized when control of the products has been transferred, meaning when the products are delivered to the wholesaler, the wholesaler has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the wholesaler, and either the wholesaler has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or Grupo Aval has objective evidence that all criteria for acceptance have been satisfied. Revenue from these sales is recognized based on the price specified in the contract, net of discounts. Accumulated experience is used to estimate and provide for the discounts, using the most likely amount, and revenue is only recognized to the extent that it is highly probable that a significant reversal will not occur. A receivable is recognized when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due. (ix) Financing components. Grupo Aval adjusts transaction prices for the time value of money for contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. |
Description of accounting policy for earnings per share [text block] | 2.28 Earnings per share Earnings per share is calculated as net income for the period attributable to Grupo Aval’s shareholders divided by the weighted average number of common and preferred shares outstanding during the period. Diluted earnings per share are determined in the same way, on the basis of net income, but the weighted average number of shares outstanding is adjusted to account for the potential dilutive effect of stock options. Grupo Aval does not have financial instruments with potential dilutive effects. As a consequence, only basic earnings per share are disclosed in these financial statements. |
Disclosure of expected impact of initial application of new standards or interpretations [text block] | 2.29 New and amended IFRS New standards and amendments to standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted; however, Grupo Aval has not early adopted them in preparing these Consolidated Financial Statements. Effective for Annual Periods New or Amended Standard Title of the Standard Beginning on or After Forthcoming requirements. Lease Liability in Sale and Leaseback Amendments to IFRS 16 Leases January 1,2024 Classification of Liabilities as Current or Non-current ● Amendments to IAS 1 Presentation of Financial Statements January 1,2024 Supplier Finance Arrangements Amendments to IAS 7 and IFRS 7 January 1,2024 Lack of Exchangeability Amendments to IAS 21 January 1,2025 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures Available for optional adoption / effective date deferred indefinitely The amendments listed above did not have any impact on amounts recognized in prior periods and are not expected to significantly affect current or future periods. |
REPORTING ENTITY (Tables)
REPORTING ENTITY (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |
Disclosure of subsidiaries [line items] | |
Schedule of discontinued operations | The following are the impacts on assets, liabilities and equity recognized in the Consolidated Financial Statements as a result of BAC Holding´s spin-off as of March 31, 2022: Spin-off Value Total assets Ps. 111,185,832 Total liabilities 98,305,772 Non-controlling interest 1,961 BAC Holding´s equity as of March 31, 2022 Ps. 12,878,099 Spin-off percentage 75.00% Spin-off amount Ps. 9,658,574 Percentage of Grupo Aval over BAC Holding 68.74% Effect of the spin-off on owners of the parent Ps. (6,638,961) Effect of the spin-off on non-controlling interest Ps. (3,019,613) The following is the effect of the realization of Other Comprehensive Income a result of the loss of control of the subsidiary BAC Holding as of March 31, 2022: Other Comprehensive Income items which were reclassified to profit or loss Value Hedged items Ps. 6,551,200 Hedging derivative instruments (4,013,210) Hedging non-derivative instruments (2,761,143) Foreign currency translation differences from unhedged foreign operations (1,267,033) Unrealized gains on debt securities at FVOCI 98,947 Income tax expense 2,443,861 Total reclassifications of Other Comprehensive Income to profit or loss Ps. 1,052,622 Grupo Aval´s ownership over BAC Holding 68.74% Attributable to owners of the parent Ps. 723,535 Attributable to non-controlling interest Ps. 329,087 Total reclassifications of Other Comprehensive Income to retained earnings Ps. (7,735) Grupo Aval´s ownership over BAC Holding 68.74% Attributable to owners of the parent Ps. (5,317) Attributable to non-controlling interest Ps. (2,418) The following are BAC Holding´s assets and liabilities which were derecognized at their carrying values as a result of the spin off as of March 31, 2022: Assets Cash and cash equivalents Ps. 17,570,390 Trading assets 158,850 Investment securities 14,286,296 Loans, net 69,778,334 Other accounts receivable, net 915,840 Non-current assets held for sale 63,957 Tangible assets 1,899,743 Goodwill 5,902,410 Other Intangibles 196,106 Income tax assets 227,872 Other assets 186,034 Total assets Ps. 111,185,832 Liabilities and equity Liabilities Trading liabilities Ps. 904 Customer deposits 83,778,961 Financial obligations 10,938,587 Provisions 39,670 Income tax liabilities 481,239 Employee benefits 246,186 Other liabilities 2,820,225 Total liabilities Ps. 98,305,772 Owners of the parent: Equity attributable to owners of the parent 12,878,099 Non-controlling interest 1,961 Total equity 12,880,060 Total liabilities and equity Ps. 111,185,832 Income Statement of discontinued operations The following is discontinued operations Income Statement for the three-month period ended March 31 2022: From January 1, to March 31, 2022 Interest income calculated using the effective interest method Loan portfolio Ps. 1,684,995 Investments in debt securities 164,424 Total interest income 1,849,419 Interest expense Deposits Checking accounts (47,739) Savings accounts (53,608) Time deposits (324,670) (426,017) Financial obligations Interbank borrowings and overnight funds (253) Borrowings from banks and others (66,621) Bonds issued (61,195) (128,069) Net interest income 1,295,333 Impairment losses on financial assets Loans and other accounts receivable (264,926) Other financial assets (2,850) Net impairment loss on financial assets (267,776) Net interest income, after impairment losses 1,027,557 From January 1, to March 31, 2022 Income from commissions and fees 753,523 Expenses from commissions and fees (30,396) Net income from commissions and fees 723,127 Net trading income 953 Other income 291,413 Other expenses (1,274,056) Net income before tax expense 768,994 Income tax expense (224,104) Net income from discontinued operations Ps. 544,890 Net reclassifications of Other Comprehensive Income Ps. 1,052,622 Net income from discontinued operations, net of tax Ps. 1,597,512 Net income for the year attributable to: Owners of the parent Ps. 1,098,073 Non-controlling interests 499,439 Net income from discontinued operations, net of tax Ps. 1,597,512 Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). Ps. 47.45 Cash Flows of spin-off The following is the detail of the Cash Flow of discontinued operations from January 1 to March 31, 2022: March 31, 2022 Net gain discontinued operations, net of taxes Ps. (1,597,512) Reconciliation of net income before taxes and net cash provided by operating activities: Effect of realization OCI to income Ps. 1,052,622 BAC Holding Corp's participation in results 544,890 Net cash provided by operating activities Ps. - Cash flows from investing activities: Loss of control in subsidiary Ps. (17,570,390) Net cash by investing activities Ps. (17,570,390) Decrease in cash and cash equivalents Ps. (1,393,602) Decrease in cash and cash equivalents (18,963,992) Cash and cash equivalents at beginning of year Ps. 18,963,992 Cash and cash equivalents at end of year Ps. - |
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Sale [Member] | |
Disclosure of subsidiaries [line items] | |
Schedule of discontinued operations | The following are the details of the transaction: Disposal of BAC Holding Value BAC shares before the sale 10,805,047,272 Investment carrying amount as of April 1, (The fair value of the retained interest). Ps. 3,356,952 Equity method Share of profit of equity accounted investees, net of tax 251,660 Other Comprehensive Income, investments in associates (15,364) Other Comprehensive Income, foreign currency translation differences from hedged 930,900 Other Comprehensive Income, cumulative translation adjustment of the investments 1,439 Derecognition of BAC Holding as an investment in associate Ps. 4,525,587 Effects on the Income Statement for the period Value Derecognition of BAC Holding as an investment in associate Ps. (4,525,587) Recognition of retained interest 519,964 Consideration received 2,645,914 Amount reclassified to discontinued operations as a Share of profit of equity accounted investees, net of tax Ps. 251,660 Other Comprehensive Income items are reclassified to the Income Statement Net gain (loss) on hedges of net investments in foreign operations: Foreign currency translation differences from hedged 930,900 Non-derivative hedging instrument (900,454) Foreign currency translation differences from unhedged foreign operations 30,446 Equity method (15,364) Cumulative translation adjustment of the investments 1,439 Deferred tax 360,182 Total Other Comprehensive Income reclassifications to the Income Statement Ps. 376,703 Grupo Aval´s ownership over BAC Holding 68.93% Attributable to owners of the parent Ps. 259,644 Attributable to non-controlling interest Ps. 117,059 Total Other Comprehensive Income reclassifications to the Income Statement 376,703 Loss from discontinued operations Ps. (731,346) Cash Flows of sale December 31, 2022 Net income from discontinued operations Ps. (731,346) Effect of realization OCI to income (376,703) Net income net, tax expense Ps. (1,108,049) Changes in operating assets and liabilities 1,108,049 Net cash provided by operating activities - Net cash provided by investing activities 2,645,914 Net cash used by financing activities - Effect of foreign currency changes on cash and equivalents - Increase in cash and cash equivalents 2,645,914 Cash and cash equivalents at beginning of period Ps. - Cash and cash equivalents at end of period Ps. 2,645,914 Summary discontinued operations during the year 2022 BAC Holding Corp. (BAC Holding) Spin-off Sale Net From January 1, to March 31, December December 2022 2022 2022 Interest income calculated using the effective interest method Loan portfolio Ps. 1,684,995 Ps. — Ps. 1,684,995 Investments in debt securities 164,424 — 164,424 Total interest income 1,849,419 — 1,849,419 Interest expense Deposits Checking accounts (47,739) — (47,739) Savings accounts (53,608) — (53,608) Time deposits (324,670) — (324,670) (426,017) — (426,017) Financial obligations Interbank borrowings and overnight funds (253) — (253) Borrowings from banks and others (66,621) — (66,621) Bonds issued (61,195) — (61,195) (128,069) — (128,069) Net interest income 1,295,333 — 1,295,333 Impairment (losses) recoveries on financial assets Loans and other accounts receivable (264,926) — (264,926) Other financial assets (2,850) — (2,850) Net impairment loss on financial assets (267,776) — (267,776) Net interest income, after impairment losses 1,027,557 — 1,027,557 Income from commissions and fees 753,523 — 753,523 Expenses from commissions and fees (30,396) — (30,396) Net income from commissions and fees 723,127 — 723,127 Net trading income 953 — 953 Other income 291,413 251,660 543,073 Other expenses (1,274,056) (1,359,709) (2,633,765) Net income (loss) before tax expense 768,994 (1,108,049) (339,055) Income tax expense (224,104) — (224,104) Net income (loss) from discontinued operations Ps. 544,890 Ps. (1,108,049) Ps. (563,159) Net reclassifications of Other Comprehensive Income Ps. 1,052,622 Ps. 376,703 Ps. 1,429,325 Net income (loss) from discontinued operations, net of tax Ps. 1,597,512 Ps. (731,346) Ps. 866,166 Net income (loss) for the year attributable to: Owners of the parent Ps. 1,098,073 Ps. (504,083) Ps. 593,990 Non-controlling interests 499,439 (227,262) 272,177 Net income (loss) from discontinued operations, net of tax Ps. 1,597,512 Ps. (731,346) Ps. 866,166 Net income per share basic and diluted (in Colombian pesos, see note 25.3 "Earnings per share"). Ps. 47.45 Ps. (21.78) Ps. 25.67 Impact on the cash flow report: The impacts on cash flow for the periods ended are detailed below: December 31, December 31, 2022 2021 Net gain discontinued operations, net of taxes Ps. (866,166) Ps. (1,118,556) Reconciliation of net income before taxes and net cash provided by operating activities: Effect of realization OCI to income Ps. 1,429,325 - BAC Holding Corp's participation in results 796,550 1,118,556 Loss on sale of investment and recognition of retained interest (1,359,709) - Net cash provided by operating activities Ps. - Ps. - Cash flows from investing activities: Loss of control in subsidiary Ps. (17,570,390) Ps. (18,963,992) Proceeds from sale of investments in associates 2,645,914 - Net cash by investing activities Ps. (14,924,476) Ps. (18,963,992) Decrease in cash and cash equivalents Ps. (1,393,602) Ps. 838,598 Decrease in cash and cash equivalents (16,318,078) (18,125,394) Cash and cash equivalents at beginning of year Ps. 18,963,992 Ps. 18,125,394 Cash and cash equivalents at end of year Ps. 2,645,914 Ps. - |
Banco de Bogota S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Main local direct subsidiaries Fiduciaria Bogotá S.A. Management of trust funds. Bogotá, Colombia 94.99% 65.47% Almaviva S.A. Logistics services. Bogotá, Colombia 95.81% 66.04% Megalínea S.A. Technical and administrative services Bogotá, Colombia 94.90% 65.41% Main international direct subsidiaries (*) Banco de Bogotá Panamá S.A. Commercial banking services. Panamá, Republic of Panamá 100% 68.93% Multi Financial Holding (**) Holding company of Multi Financial Group Inc. (MFG) Panamá, Republic of Panamá 100% 68.93% (*) (**) |
Banco de Occidente S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Fiduciaria de Occidente S.A. Management of trust funds. Bogotá, Colombia 94.98% 70.86% Banco de Occidente (Panamá). S.A. Commercial banking services. Panamá, Republic of Panamá 95.00% 68.66% Occidental Bank Barbados Ltd. Commercial banking services. Barbados 100% 72.27% |
Banco Popular S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Alpopular S.A. Conservation and custody of documents; transportation of products at national and international levels. Bogotá, Colombia 71.10% 66.65% Fiduciaria Popular S.A. Management of trust funds. Bogotá, Colombia 94.85% 88.91% Corporación Financiera Colombiana – Corficolombiana S.A. (1) Active management of a stock pipeline through controlled and uncontrolled investments in strategic sectors including infrastructure, energy and gas, agribusiness and hotels. Bogotá, Colombia 55.73% 40.53% (1) Corficolombiana S.A. (in which Grupo Aval and its subsidiaries own 55.73% of the aggregate voting rights and Grupo Aval has 40.53% of the ownership interest as of December 31, 2023.) |
Corporacion Financiera Colombiana S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership Main Indirect Subsidiaries rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Promigas S.A. E.S.P. Transportation and distribution of natural gas. Barranquilla, Colombia 50.88% 20.62% Colombiana de Licitaciones y Concesiones S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Estudios y Proyectos del Sol S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Proyectos y Desarrollos Viales del Pacífico S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Concesionaria Vial Del Oriente S.A.S. Infrastructure projects. Bogotá, Colombia 100% 40.53% Concesionaria Vial Del Pacifico S.A.S. Infrastructure projects. Sabaneta Antioquia 100% 40.53% Estudios, Proyectos e Inversiones de los Andes S.A.S. y subsidiarias Infrastructure projects. Bogotá, Colombia 100% 40.52% CFC Gas Holding S.A.S. Investment Company Bogotá, Colombia 100% 40.53% |
Banco Comercial AV Villas S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval A Toda Hora S.A. ATH ATM network services and maintenance Bogotá, Colombia 100% 78.93% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |
Disclosure of subsidiaries [line items] | |
Schedule of details of significant subsidiaries which are indirectly consolidated by Grupo Aval | Total Total voting ownership rights held by interest held Subsidiary Core business Location Grupo Aval by Grupo Aval Aportes en Línea S.A. Technical and administrative services. Bogotá, Colombia 100% 75.18% |
BASIS OF PREPARATION OF THE C_3
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of voluntary change in accounting policy [abstract] | |
Schedule of estimated on a straight-line basis during the estimated useful life of the asset | Asset Useful Life Own use buildings According to appraisals Equipment, furniture and accessories From 3 to 10 years Machinery and equipment (*) From 5 to 25 years Computer equipment From 3 to 12 years Vehicles From 5 to 10 years Bearer plants From 25 to 35 years (*) |
Disclosure of intangible assets with indefinite useful life [text block] | Intangible Asset Useful Life Software and information technology applications From 1 to 20 years Licenses From 1 to 15 years Trademarks Indefinite Customer-related assets From 1 to 10 years Intellectual property rights From 1 to 20 years Models, formulas, designs and prototypes 10 years Easements From 20 to 50 years |
RISK MANAGEMENT (Tables)
RISK MANAGEMENT (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit risk exposure | Assets December 31, 2023 December 31, 2022 Cash and cash equivalents (*) Ps. 14,788,750 Ps. 13,234,832 Trading investments in debt securities 7,113,380 3,760,887 Investments in debt securities mandatorily at FVTPL 1,889 1,378 Investments in debt securities at FVOCI 23,326,776 22,461,805 Investments in debt securities at amortized cost 9,996,561 9,771,492 Derivatives instruments 2,077,567 2,041,405 Hedging derivatives 48,662 20,854 Loans Commercial 107,047,817 104,775,099 Consumer 59,999,611 59,419,444 Mortgage 18,486,206 17,883,355 Microcredit 277,529 267,720 Interbank and overnight funds 392,607 5,967,743 Other accounts receivable FVTPL 3,830,916 3,507,231 Other accounts receivable at amortized cost 22,171,973 20,255,758 Total financial assets with credit risk Ps. 269,560,244 Ps. 263,369,003 Financial instruments with credit risk outside of the statement of financial position at its nominal value Financial guarantees and letters of credit 3,052,607 4,679,653 Credit commitments 26,745,937 26,328,516 Total exposure to credit risk outside of the statement of financial position (**) Ps. 29,798,544 Ps. 31,008,169 Total maximum exposure to credit risk Ps. 299,358,788 Ps. 294,377,172 (*) (**) |
Disclosure of financial assets | December 31, 2023 Total loan Portfolio segment Loan Portfolio Loss allowance Portfolio, net Commercial Ps. 107,440,424 Ps. 5,294,622 Ps. 102,145,802 Interbank and overnight funds 392,607 22 392,585 Client portfolio 107,047,817 5,294,600 101,753,217 Consumer 59,999,611 4,307,446 55,692,165 Residential mortgage 18,486,206 379,987 18,106,219 Microcredit 277,529 53,660 223,869 Total portfolio Ps. 186,203,770 Ps. 10,035,715 Ps. 176,168,055 December 31, 2022 Total loan Portfolio segment Loan Portfolio Loss allowance Portfolio, net Commercial Ps. 110,742,842 Ps. 5,494,190 Ps. 105,248,652 Interbank and overnight funds 5,967,743 1,444 5,966,299 Client portfolio 104,775,099 5,492,746 99,282,353 Consumer 59,419,444 3,311,912 56,107,532 Residential mortgage 17,883,355 352,441 17,530,914 Microcredit 267,720 38,971 228,749 Total portfolio Ps. 188,313,361 Ps. 9,197,514 Ps. 179,115,847 |
Disclosure of each credit risk category | Category PD* Risk Description 1 0%- 7.5% Normal Appropriately serviced. The debtor’s financial statements or their projected cash flows, as well as all other credit information available to us, reflect adequate paying capacity 2 7.5% - 15% Acceptable above normal Adequately serviced and protected, but there are weaknesses which may potentially affect, on a temporary or permanent basis, the debtor’s paying capacity or their projected cash flows to the extent that, if not timely corrected, would affect the collection of the credits as contracted 3 15% - 22.5% 4 22.5% - 30% Appreciable Have debtors with insufficient paying capacity or relate to projects with insufficient cash flow, which may compromise the normal collection of the obligations 5 30% - 45% 6 45% - 60% Significant Have the same deficiencies as loans in category 4-5, but to a larger extent; consequently, the probability of collection is highly doubtful 7 60% - 90% 8 > 90% Non-recoverability Deemed uncollectible. (*) |
Disclosure of credit quality of financial assets | Total Portfolio December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 155,352,194 Ps. 2,123,462 Ps. 1,662 Ps. 157,477,318 7.5% - 15% 8,001,193 1,491,965 18 9,493,176 15% - 22.5% 635,366 454,652 13 1,090,031 22.5% - 30% 372,476 657,258 17 1,029,751 30% - 45% 122,410 2,115,980 48 2,238,438 45% - 60% 10,436 594,121 382 604,939 60% - 90% 30,479 1,640,781 3,085 1,674,345 > 90% 7 35,828 12,559,937 12,595,772 TOTAL Ps. 164,524,561 Ps. 9,114,047 Ps. 12,565,162 Ps. 186,203,770 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 157,604,135 Ps. 1,939,187 Ps. 1,204 Ps. 159,544,526 7.5% - 15% 6,335,608 2,344,810 4 8,680,422 15% - 22.5% 714,742 613,626 16 1,328,384 22.5% - 30% 82,591 804,305 26 886,922 30% - 45% 105,034 3,643,179 80 3,748,293 45% - 60% 59,209 843,511 43 902,763 60% - 90% 2,306 1,545,507 3,602 1,551,415 > 90% 2,398 40,783 11,627,455 11,670,636 TOTAL Ps. 164,906,023 Ps. 11,774,908 Ps. 11,632,430 Ps. 188,313,361 Commercial – Client portfolio December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 89,446,752 Ps. 922,338 Ps. 30 Ps. 90,369,120 7.5% - 15% 4,619,984 672,515 14 5,292,513 15% - 22.5% 149,734 141,027 — 290,761 22.5% - 30% 75,014 296,926 — 371,940 30% - 45% 35,159 1,384,320 — 1,419,479 45% - 60% — 29,600 44 29,644 60% - 90% 1,652 79,911 249 81,812 > 90% 5 3,897 9,188,646 9,192,548 TOTAL Ps. 94,328,300 Ps. 3,530,534 Ps. 9,188,983 Ps. 107,047,817 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 86,598,568 Ps. 779,368 Ps. 9 Ps. 87,377,945 7.5% - 15% 3,221,994 1,381,026 — 4,603,020 15% - 22.5% 72,734 156,062 — 228,796 22.5% - 30% 6,479 299,999 6 306,484 30% - 45% 44,889 2,716,387 — 2,761,276 45% - 60% 12,023 263,181 6 275,210 60% - 90% 1,446 70,843 683 72,972 > 90% 101 5,228 9,144,067 9,149,396 TOTAL Ps. 89,958,234 Ps. 5,672,094 Ps. 9,144,771 Ps. 104,775,099 Consumer December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 48,882,951 Ps. 959,967 Ps. 1,624 Ps. 49,844,542 7.5% - 15% 3,162,195 630,148 3 3,792,346 15% - 22.5% 407,118 221,512 13 628,643 22.5% - 30% 287,632 303,389 17 591,038 30% - 45% 83,212 511,700 46 594,958 45% - 60% 5,394 403,500 335 409,229 60% - 90% 27,605 1,347,432 2,836 1,377,873 > 90% 2 31,127 2,729,853 2,760,982 TOTAL Ps. 52,856,109 Ps. 4,408,775 Ps. 2,734,727 Ps. 59,999,611 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 49,264,495 Ps. 1,077,991 Ps. 1,193 Ps. 50,343,679 7.5% - 15% 2,552,075 475,589 4 3,027,668 15% - 22.5% 551,430 380,837 16 932,283 22.5% - 30% 61,468 311,962 19 373,449 30% - 45% 55,980 870,976 78 927,034 45% - 60% 42,850 463,902 34 506,786 60% - 90% 578 1,312,625 2,915 1,316,118 > 90% 252 35,081 1,957,094 1,992,427 TOTAL Ps. 52,529,128 Ps. 4,928,963 Ps. 1,961,353 Ps. 59,419,444 Mortgage December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 16,462,013 Ps. 241,157 Ps. 8 Ps. 16,703,178 7.5% - 15% 192,612 189,280 1 381,893 15% - 22.5% 64,124 92,026 — 156,150 22.5% - 30% 1,654 56,932 — 58,586 30% - 45% 594 219,707 2 220,303 45% - 60% — 160,222 3 160,225 60% - 90% — 200,657 — 200,657 > 90% — 804 604,410 605,214 TOTAL Ps. 16,720,997 Ps. 1,160,785 Ps. 604,424 Ps. 18,486,206 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 15,619,231 Ps. 81,828 Ps. 2 Ps. 15,701,061 7.5% - 15% 520,960 488,195 — 1,009,155 15% - 22.5% 83,260 76,727 — 159,987 22.5% - 30% 2,201 192,344 1 194,546 30% - 45% 776 55,449 2 56,227 45% - 60% — 115,989 3 115,992 60% - 90% — 148,789 4 148,793 > 90% — 474 497,120 497,594 TOTAL Ps. 16,226,428 Ps. 1,159,795 Ps. 497,132 Ps. 17,883,355 Microcredit December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 167,871 Ps. — Ps. — Ps. 167,871 7.5% - 15% 26,402 22 — 26,424 15% - 22.5% 14,390 87 — 14,477 22.5% - 30% 8,176 11 — 8,187 30% - 45% 3,445 253 — 3,698 45% - 60% 5,042 799 — 5,841 60% - 90% 1,222 12,781 — 14,003 > 90% — — 37,028 37,028 TOTAL Ps. 226,548 Ps. 13,953 Ps. 37,028 Ps. 277,529 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 154,099 Ps. — Ps. — Ps. 154,099 7.5% - 15% 40,579 — — 40,579 15% - 22.5% 7,318 — — 7,318 22.5% - 30% 12,443 — — 12,443 30% - 45% 3,389 367 — 3,756 45% - 60% 4,336 439 — 4,775 60% - 90% 282 13,250 — 13,532 > 90% 2,045 — 29,173 31,218 TOTAL Ps. 224,491 Ps. 14,056 Ps. 29,173 Ps. 267,720 Interbank and overnight funds December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 392,607 Ps. — Ps. — Ps. 392,607 7.5% - 15% — — — — 15% - 22.5% — — — — 22.5% - 30% — — — — 30% - 45% — — — — 45% - 60% — — — — 60% - 90% — — — — > 90% — — — — TOTAL Ps. 392,607 Ps. — Ps. — Ps. 392,607 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 5,967,742 Ps. — Ps. — Ps. 5,967,742 7.5% - 15% — — — — 15% - 22.5% — — — — 22.5% - 30% — — — — 30% - 45% — — — — 45% - 60% — — — — 60% - 90% — — — — > 90% — — 1 1 TOTAL Ps. 5,967,742 Ps. — Ps. 1 Ps. 5,967,743 Loan commitments and financial guarantee contracts December 31, 2023 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 26,560,070 Ps. 74,846 Ps. 205 Ps. 26,635,121 7.5% - 15% 217,078 901,543 14 1,118,635 15% - 22.5% 30,108 1,684,982 17 1,715,107 22.5% - 30% 8,822 4,715 74 13,611 30% - 45% 1,059 145,865 138 147,062 45% - 60% 2 2,821 252 3,075 60% - 90% 9 1,050 426 1,485 > 90% 1 301 164,146 164,448 TOTAL Ps. 26,817,149 Ps. 2,816,123 Ps. 165,272 Ps. 29,798,544 December 31, 2022 Total Exposure PD Range Stage 1 Stage 2 Stage 3 Total 0%- 7.5% Ps. 26,786,851 Ps. 249,902 Ps. 69 Ps. 27,036,822 7.5% - 15% 286,943 1,053,719 10 1,340,672 15% - 22.5% 10,450 1,865,391 98 1,875,939 22.5% - 30% 2,033 232,787 180 235,000 30% - 45% 1,469 303,823 777 306,069 45% - 60% 83 79,811 700 80,594 60% - 90% 532 47,631 728 48,891 > 90% — 13 84,169 84,182 TOTAL Ps. 27,088,361 Ps. 3,833,077 Ps. 86,731 Ps. 31,008,169 |
Disclosure of credit worthiness | December 31, 2023 December 31, 2022 Investment grade Ps. 13,537,699 Ps. 12,051,274 Central bank 6,857,510 4,541,687 Financial entities 6,678,693 7,509,587 Others 1,496 — Speculative grade 1,228,856 1,148,798 Central bank 466 2,058 Financial entities 1,228,390 1,146,740 Without grade or not available 22,195 34,760 Financial entities 22,195 34,760 Cash and cash equivalent with third parties Ps. 14,788,750 Ps. 13,234,832 Cash held by entity (*) Ps. 3,809,111 Ps. 3,798,025 Total Ps. 18,597,861 Ps. 17,032,857 (*) |
Disclosure of other receivables | December 31, 2023 Stage 1 Stage 2 Stage 3 Simplified Approach Total Other receivables using general approach Other accounts receivable and contract assets for government and corporate customers Ps. 14,569,999 Ps. — Ps. 1,535 Ps. — Ps. 14,571,534 Other accounts receivable related to gas, energy services, contributions, and others 1,143,548 119,607 184,829 — 1,447,984 Other receivables using simplified approach Other accounts receivable from individual customers — — — 6,152,455 6,152,455 Total other receivables Ps. 15,713,547 Ps. 119,607 Ps. 186,364 Ps. 6,152,455 Ps. 22,171,973 December 31, 2022 Stage 1 Stage 2 Stage 3 Simplified Approach Total Other receivables using general approach Other accounts receivable and contract assets for government and corporate customers Ps. 13,231,073 Ps. — Ps. — Ps. — Ps. 13,231,073 Other accounts receivable related to gas, energy services, contributions, and others 1,084,093 145,724 181,992 — 1,411,809 Other receivables using simplified approach Other accounts receivable from individual customers — — — 5,612,876 5,612,876 Total other receivables Ps. 14,315,166 Ps. 145,724 Ps. 181,992 Ps. 5,612,876 Ps. 20,255,758 |
Disclosure of exposure to credit risk by segment for accounts receivable | December 31, 2023 Stage 1 Stage 2 Stage 3 Total Segmentation Contributions Ps. 88,148 Ps. — Ps. — Ps. 88,148 Gas 709,422 111,786 102,077 923,285 Energy 84,960 7,821 82,752 175,533 Other accounts receivable 261,018 — — 261,018 Total segmentation Ps. 1,143,548 Ps. 119,607 Ps. 184,829 Ps. 1,447,984 December 31, 2022 Stage 1 Stage 2 Stage 3 Total Segmentation Contributions Ps. 151,923 Ps. — Ps. — Ps. 151,923 Gas 692,169 141,218 89,833 923,220 Energy 78,617 4,506 92,159 175,282 Other accounts receivable 161,384 — — 161,384 Total segmentation Ps. 1,084,093 Ps. 145,724 Ps. 181,992 Ps. 1,411,809 |
Disclosure of information about the exposure to credit risk and ECLs for other accounts receivables | Weighted- Gross average loss carrying Loss Credit- December 31, 2023 rate amount allowance impaired 0–30 days past due 0.18 % Ps. 4,949,057 Ps. 8,889 Ps. — 31–60 days past due 0.36 % 173,165 621 — 61–90 days past due 1.89 % 106,196 2,007 — More than 90 days past due 19.26 % 924,037 177,968 924,037 Ps. 6,152,455 Ps. 189,485 Ps. 924,037 Weighted- Gross average loss carrying Loss Credit- December 31, 2022 rate amount allowance impaired 0–30 days past due 0.03 % Ps. 4,884,653 Ps. 1,269 Ps. — 31–60 days past due 0.87 % 94,105 821 — 61–90 days past due 0.71 % 66,299 470 — More than 90 days past due 30.08 % 567,819 170,772 567,819 Ps. 5,612,876 Ps. 173,332 Ps. 567,819 |
Disclosure of credit rating in trading derivatives and hedge derivatives | Total Central counterparties Notional Fair Notional Fair amount value amount value 2023 Derivative assets Ps. 77,206,096 Ps. 2,077,567 Ps. 30,658,137 Ps. 4,272 Derivative liabilities 64,716,179 2,154,361 15,739,527 10,399 2022 Derivative assets Ps. 72,500,745 Ps. 2,041,405 Ps. 29,203,700 Ps. 12,991 Derivative liabilities 62,639,638 1,757,606 20,116,392 11,213 Hedging derivatives Total Central counterparties Notional Fair Notional Fair amount value amount value 2023 Derivative assets Ps. 3,765,455 Ps. 48,662 Ps. — Ps. — Derivative liabilities 5,109,351 217,566 — — 2022 Derivative assets Ps. 829,105 Ps. 20,854 Ps. — Ps. — Derivative liabilities 533,829 3,568 — — |
Disclosure of mortgage loans and advances by range of lone-to-value (LTV) ratio | December 31, 2023 December 31, 2022 LTV ratio Less than 50% Ps. 7,784,742 Ps. 6,828,495 51 – 70% 6,379,677 6,139,066 71 – 90% 3,281,508 3,595,794 91 – 100% 771,664 1,019,031 More than 100% 268,615 300,969 Total Ps. 18,486,206 Ps. 17,883,355 Credit-impaired mortgage loans For credit-impaired loans the value of collateral is based on the most recent appraisals December 31, 2023 December 31, 2022 LTV ratio Less than 50% Ps. 146,489 Ps. 141,621 51 – 70% 252,655 184,151 More than 70% 205,280 171,360 Total Ps. 604,424 Ps. 497,132 |
Disclosure of credit portfolio per type of guarantees received | Interbank and December 31, 2023 Commercial Consumer Mortgages Microcredit overnight funds Total Unsecured credits Ps. 60,462,815 Ps. 54,320,369 Ps. 1,277 Ps. 257,610 Ps. 88,588 Ps. 115,130,659 Loans secured by other banks 202,667 109 — — — 202,776 Collateralized credits: Mortgages 1,388,044 147,499 16,370,941 497 — 17,906,981 Other real estate 11,949,592 226,614 1,603 112 — 12,177,921 Investments in equity instruments 392,474 — — — — 392,474 Deposits in cash or cash equivalents 1,101,686 145,901 — — — 1,247,587 Leased machineries and vehicles 8,715,508 14,947 2,066,476 — — 10,796,931 Fiduciary agreements, standby letters and guarantee funds 9,654,206 21,705 45,909 18,927 — 9,740,747 Pledged income 3,710,759 — — — — 3,710,759 Pledges 3,498,054 5,064,634 — 27 — 8,562,715 Other assets 5,972,012 57,833 — 356 304,019 6,334,220 Total gross loan portfolio Ps. 107,047,817 Ps. 59,999,611 Ps. 18,486,206 Ps. 277,529 Ps. 392,607 Ps. 186,203,770 Interbank and December 31, 2022 Commercial Consumer Mortgages Microcredit overnight funds Total Unsecured credits Ps. 57,471,266 Ps. 53,550,006 Ps. 2,042 Ps. 224,582 Ps. 1,179,355 Ps. 112,427,251 Loans secured by other banks 322,063 774 — — — 322,837 Collateralized credits: Mortgages 988,888 124,990 15,549,938 651 — 16,664,467 Other real estate 13,026,949 260,832 6,494 215 — 13,294,490 Investments in equity instruments 410,669 — — — — 410,669 Deposits in cash or cash equivalents 1,412,983 167,194 — — — 1,580,177 Leased machineries and vehicles 8,148,297 18,072 2,266,986 — — 10,433,355 Fiduciary agreements, standby letters and guarantee funds 9,822,855 31,166 57,895 41,354 — 9,953,270 Pledged income 3,731,465 — — — — 3,731,465 Pledges 3,657,840 5,190,680 — 52 — 8,848,572 Other assets 5,781,824 75,730 — 866 4,788,388 10,646,808 Total gross loan portfolio Ps. 104,775,099 Ps. 59,419,444 Ps. 17,883,355 Ps. 267,720 Ps. 5,967,743 Ps. 188,313,361 As of December 31, 2023, and 2022, the following chart sets out the carrying amount and the value of identifiable collateral (mainly commercial property) for commercial loans held by Grupo Aval at a consolidated level: December 31, 2023 December 31, 2022 Carrying Amount Collateral Carrying Amount Collateral Stages 1 and 2 Ps. 23,484,250 Ps. 15,996,375 Ps. 22,537,899 Ps. 15,742,699 Stage 3 2,952,217 2,429,026 2,574,521 2,479,275 Ps. 26,436,467 Ps. 18,425,401 Ps. 25,112,420 Ps. 18,221,974 |
Disclosure of loss allowance on loans assuming each forward-looking scenario | December 31, 2023 December 31, 2022 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Gross Exposure Commercial Ps. 107,047,817 Ps. 107,047,817 Ps. 107,047,817 Ps. 104,775,099 Ps. 104,775,099 Ps. 104,775,099 Consumer 59,999,611 59,999,611 59,999,611 59,419,444 59,419,444 59,419,444 Mortgages 18,486,206 18,486,206 18,486,206 17,883,355 17,883,355 17,883,355 Microcredit 277,529 277,529 277,529 267,720 267,720 267,720 Interbank and overnight founds 392,607 392,607 392,607 5,967,743 5,967,743 5,967,743 Total gross exposure Ps. 186,203,770 Ps. 186,203,770 Ps. 186,203,770 Ps. 188,313,361 Ps. 188,313,361 Ps. 188,313,361 Loss Allowance for each scenario Commercial Ps. 5,272,129 Ps. 5,289,159 Ps. 5,341,865 Ps. 5,390,734 Ps. 5,472,794 Ps. 5,523,548 Consumer 4,246,126 4,273,465 4,336,939 3,248,144 3,338,076 3,370,089 Mortgages 372,739 378,986 384,902 347,828 378,471 352,819 Microcredit 53,754 53,618 53,662 37,614 38,752 40,161 Interbank and overnight founds 127 126 136 10,311 11,275 11,997 Total Loss Allowance Ps. 9,944,875 Ps. 9,995,354 Ps. 10,117,504 Ps. 9,034,631 Ps. 9,239,368 Ps. 9,298,614 The table below shows the loan portfolio in Stage 2 for each scenario. Proportion of Assets in Stage 2 Commercial 3.6 % 3.6 % 3.9 % 5.6 % 5.9 % 5.9 % Consumer 6.9 % 7.1 % 7.6 % 8.0 % 8.2 % 8.6 % Mortgages 5.6 % 5.7 % 5.7 % 6.3 % 6.4 % 6.5 % Microcredit 5.0 % 5.0 % 5.0 % 5.2 % 5.2 % 5.3 % Interbank and overnight founds — % — % — % — % — % — % |
Disclosure of each exposure to a credit risk grade | Commercial Consumer Mortgage Microcredit -Information from the audited financial statements obtained during periodic reviews. -Information collected internally about the behavior of customers. -Information collected internally about the behavior of customers. -Information collected internally about the behavior of customers. -Data from credit bureaus. - Data from credit bureaus. - Data from credit bureaus. - Data from credit bureaus. -Information collected internally about the behavior of customers. -Information of the different sectors. |
Disclosure of loss allowance | December 31, 2023 Stage 1 Stage 2 Stage 3 Lifetime Lifetime ECL not ECL 12-month credit- credit- Simplified ECL impaired impaired approach Total Loan portfolio Loan commercial portfolio Ps. 612,441 Ps. 218,824 Ps. 4,463,335 Ps. — Ps. 5,294,600 Loan consumer portfolio 1,141,997 993,268 2,172,181 — 4,307,446 Loan mortgage portfolio 45,080 66,333 268,574 — 379,987 Loan microcredit portfolio 12,068 6,366 35,226 — 53,660 Loan interbank and overnight founds portfolio 22 — — — 22 Total loan portfolio Ps. 1,811,608 Ps. 1,284,791 Ps. 6,939,316 Ps. — Ps. 10,035,715 Investments in debt securities at amortized cost 12,613 4,269 — — 16,882 Other accounts receivable 25,965 19,188 141,129 199,382 385,664 Total loss allowance financial assets at amortized cost Ps. 1,850,186 Ps. 1,308,248 Ps. 7,080,445 Ps. 199,382 Ps. 10,438,261 Investments in debt securities at FVOCI Ps. 12,972 Ps. — Ps. — Ps. — Ps. 12,972 Loan commitments and financial guarantee contracts 61,637 7,682 949 — 70,268 Total loss allowance Ps. 1,924,795 Ps. 1,315,930 Ps. 7,081,394 Ps. 199,382 Ps. 10,521,501 December 31, 2022 Stage 1 Stage 2 Stage 3 Lifetime Lifetime ECL not ECL 12-month credit- credit- Simplified ECL impaired impaired approach Total Loan portfolio Loan commercial portfolio Ps. 598,538 Ps. 515,202 Ps. 4,379,006 Ps. — Ps. 5,492,746 Loan consumer portfolio 839,904 853,159 1,618,849 — 3,311,912 Loan mortgage portfolio 48,763 52,639 251,039 — 352,441 Loan microcredit portfolio 6,238 4,922 27,811 — 38,971 Loan interbank and overnight founds portfolio 1,444 — — — 1,444 Total loan portfolio Ps. 1,494,887 Ps. 1,425,922 Ps. 6,276,705 Ps. — Ps. 9,197,514 Investments in debt securities at amortized cost 28,563 8,367 — — 36,930 Other accounts receivable 24,977 20,201 140,123 197,115 382,416 Total loss allowance financial assets at amortized cost Ps. 1,548,427 Ps. 1,454,490 Ps. 6,416,828 Ps. 197,115 Ps. 9,616,860 Investments in debt securities at FVOCI Ps. 12,686 Ps. — Ps. — Ps. — Ps. 12,686 Loan commitments and financial guarantee contracts 58,160 6,461 289 — 64,910 Total loss allowance Ps. 1,619,273 Ps. 1,460,951 Ps. 6,417,117 Ps. 197,115 Ps. 9,694,456 |
Disclosure of impairment losses per portfolio | The table below presents impairment losses per portfolio: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Commercial Ps. 203,061 Ps. 622,783 Ps. 1,468,182 Consumer 4,426,014 2,498,699 2,813,445 Mortgage 65,856 (25,202) 170,176 Microcredit 31,901 5,497 17,524 Interbank and overnight funds (1,422) (942) 1,535 Total loan portfolio Ps. 4,725,410 Ps. 3,100,835 Ps. 4,470,862 Other receivables 76,664 78,641 80,298 Net portfolio provision impact on income statement (1) Ps. 4,802,074 Ps. 3,179,476 Ps. 4,551,160 (1) Includes net of loss allowance presented as part of “Costs and expenses of sales goods and services” as of December 2023 Ps. (51,035) as of December 2022 Ps. (59,073) and as of December Ps. (51,064) . |
Disclosure of loans stage 3 individually assessed for ECL the gross amount and loss allowance balances | December 31, 2023 Gross Amount Registered Collateral Guarantees Allowance Recognized Without recognized provision Commercial Ps. 240,358 Ps. 239,937 Ps. — Repos, interbank loans portfolio — — — Subtotal Ps. 240,358 Ps. 239,937 Ps. — With recognized provision Commercial Ps. 7,080,758 Ps. 1,075,446 Ps. 3,196,800 Consumer 3,144 — 1,959 Residential mortgage 12,515 1,970 10,507 Repos, interbank loans portfolio — — — Subtotal Ps. 7,096,417 Ps. 1,077,416 Ps. 3,209,266 Totals Commercial 7,321,116 1,315,383 3,196,800 Consumer 3,144 — 1,959 Residential mortgage 12,515 1,970 10,507 Repos, interbank loans portfolio — — — Total Ps. 7,336,775 Ps. 1,317,353 Ps. 3,209,266 December 31, 2022 Gross Amount Registered Collateral Guarantees Allowance Recognized Without recognized provision Commercial Ps. 143,728 Ps. 138,324 Ps. — Repos, interbank loans portfolio — — — Subtotal Ps. 143,728 Ps. 138,324 Ps. — With recognized provision Commercial Ps. 7,444,017 Ps. 1,554,672 Ps. 3,332,063 Consumer 5,913 279 2,337 Residential mortgage 10,983 — 6,170 Repos, interbank loans portfolio 1 — — Subtotal Ps. 7,460,914 Ps. 1,554,951 Ps. 3,340,570 Totals Commercial 7,587,745 1,692,996 3,332,063 Consumer 5,913 279 2,337 Residential mortgage 10,983 — 6,170 Repos, interbank loans portfolio 1 — — Total Ps. 7,604,642 Ps. 1,693,275 Ps. 3,340,570 |
Disclosure of credit portfolio distribution by economic sector | Sector December 31, 2023 % December 31, 2022 % Consumer services Ps. 84,358,141 45.3 % Ps. 84,466,684 44.8 % Commercial services 40,341,863 21.7 % 42,542,019 22.6 % Construction 14,733,390 7.9 % 14,438,349 7.7 % Food, beverage and tobacco 7,191,477 3.9 % 7,843,322 4.2 % Public services 7,172,123 3.9 % 5,672,379 3.0 % Other industrial and manufacturing products 6,410,022 3.4 % 7,006,245 3.7 % Transportation and communications 6,283,172 3.4 % 6,567,477 3.5 % Chemical production 5,414,605 2.9 % 5,422,364 2.9 % Government 5,367,471 2.9 % 5,252,429 2.8 % Agricultural 4,192,847 2.3 % 4,448,738 2.4 % Trade and tourism 1,622,212 0.8 % 1,650,721 0.9 % Mining products and oil 1,500,686 0.8 % 1,226,418 0.6 % Other 1,615,761 0.8 % 1,776,216 0.9 % Total of each economic sector Ps. 186,203,770 100.0 % Ps. 188,313,361 100.0 % |
Disclosure of credit risk at the level in the different geographic areas | December 31, 2023 Commercial Consumer Mortgages Microcredit Interbank and overnight funds Total Colombia Ps. 90,146,557 Ps. 56,659,813 Ps. 15,363,688 Ps. 277,529 Ps. 320,400 Ps. 162,767,987 Panamá 7,881,116 3,339,663 3,122,518 — 21,512 14,364,809 United States 5,857,040 — — — 50,089 5,907,129 Guatemala 218,838 — — — — 218,838 Costa Rica 115,868 — — — 606 116,474 Honduras 298,941 — — — — 298,941 El Salvador 6,704 — — — — 6,704 Nicaragua 605 — — — — 605 Other countries 2,522,148 135 — — — 2,522,283 Total gross loan portfolio Ps. 107,047,817 Ps. 59,999,611 Ps. 18,486,206 Ps. 277,529 Ps. 392,607 Ps. 186,203,770 December 31, 2022 Commercial Consumer Mortgages Microcredit Interbank and overnight funds Total Colombia Ps. 86,114,887 Ps. 55,387,762 Ps. 13,944,236 Ps. 267,720 Ps. 5,786,796 Ps. 161,501,401 Panamá 10,318,304 4,030,766 3,936,629 — 177,090 18,462,789 United States 5,063,368 6 — — — 5,063,374 Guatemala 225,105 — — — — 225,105 Costa Rica 212,701 829 2,490 — 3,857 219,877 Honduras 77,035 — — — — 77,035 El Salvador 56,066 — — — — 56,066 Nicaragua — — — — — — Other countries 2,707,633 81 — — — 2,707,714 Total gross loan portfolio Ps. 104,775,099 Ps. 59,419,444 Ps. 17,883,355 Ps. 267,720 Ps. 5,967,743 Ps. 188,313,361 |
Disclosure of classification of loan portfolio by type of currency | December 31, 2023 Colombian Pesos Foreign currency Total Commercial Ps. 83,083,022 Ps. 23,964,795 Ps. 107,047,817 Consumer 56,580,248 3,419,363 59,999,611 Residential mortgage 15,363,549 3,122,657 18,486,206 Microcredit 277,529 — 277,529 Interbank and overnight funds 159,757 232,850 392,607 Total gross loan portfolio Ps. 155,464,105 Ps. 30,739,665 Ps. 186,203,770 December 31, 2022 Colombian Pesos Foreign currency Total Commercial Ps. 77,500,547 Ps. 27,274,552 Ps. 104,775,099 Consumer 55,306,497 4,112,947 59,419,444 Residential mortgage 13,944,125 3,939,230 17,883,355 Microcredit 267,720 — 267,720 Interbank and overnight funds 5,595,142 372,601 5,967,743 Total gross loan portfolio Ps. 152,614,031 Ps. 35,699,330 Ps. 188,313,361 |
Disclosure of investments in debt securities by location | As of December 31, 2023 2022 Colombia Ps. 33,713,283 Ps. 28,040,520 Panama 3,952,223 4,381,752 USA 1,421,010 2,213,308 Brazil 114,879 264,073 Mexico 410,599 221,754 Costa Rica 95,643 143,513 Chile 182,398 115,033 Peru 177,096 102,190 Paraguay 37,177 8,593 Total by country Ps. 40,104,308 Ps. 35,490,736 Bladex (Foreign Trade Bank of Latin America) 225,642 277,501 Andean Development Corporation (Corporación Andina de Fomento) 105,107 111,124 International Bank for Reconstruction and Development — 89,266 Inter-American Corporation for the Financing of Infrastructure 3,549 26,935 Multilateral Ps. 334,298 Ps. 504,826 Total investments in debt securities Ps. 40,438,606 Ps. 35,995,562 |
Disclosure of detail of sovereign debt portfolio issued by Central Governments per country | December 31, 2023 December 31, 2022 % % Investment grade (1) Colombia Ps. 22,768,597 82.14 % Ps. 17,942,244 74.26 % Panama 1,077,656 3.89 % 1,126,942 4.66 % Chile 3,768 0.01 % — — % Mexico 16,268 0.06 % 19,552 0.08 % United States of America 1,371,842 4.95 % 2,213,308 9.16 % Total Investment grade Ps. 25,238,131 91.05 % Ps. 21,302,046 88.16 % Speculative (2) Brazil 27,643 0.10 % 32,834 0.14 % Colombia 2,384,493 8.60 % 2,731,647 11.31 % Costa Rica 68,454 0.25 % 94,871 0.39 % Total Speculative Ps. 2,480,590 8.95 % Ps. 2,859,352 11.84 % Ps. 27,718,721 100.00 % Ps. 24,161,398 100.00 % Below is the detail of Grupo Aval’s debt portfolio issued by Central Banks: December 31, 2023 December 31, 2022 % % Investment Grade (1) Panama (*) Ps. 145,489 100.00 % Ps. 194,098 100.00 % Total Investment grade Ps. 145,489 100.00 % Ps. 194,098 100.00 % Total sovereign risk Ps. 27,864,210 100.00 % Ps. 24,355,496 100.00 % (1) Investment grade includes the risk rating of Fitch Ratings Colombia S.A o F1+ to F3, BRC of Colombia from BRC 1+ to BRC 3 and Standard & Poor’s from AAA to BBB-. (2) Speculative or non-investment grade level includes the risk rating of Fitch Ratings Colombia S.A. from B to E, BRC de Colombia from BRC 4 to BRC 6 and Standard & Poor’s from BB+ to D. (*) |
Disclosure of balance of restructured loans | Restructured loans December 31, 2023 December 31, 2022 Local currency Ps. 4,346,710 Ps. 3,081,868 Foreign currency 1,646,876 1,647,947 Total restructured Ps. 5,993,586 Ps. 4,729,815 |
Disclosure of total of foreclosed assets received and sold | December 31, 2023 December 31, 2022 Foreclosed assets received Ps. 76,116 Ps. 88,482 Foreclosed assets sold 90,940 50,019 |
Disclosure of detail of the guarantees, letters of credit and credit commitments on non-used credit lines | Loan commitments and financial guarantee contracts December 31, 2023 December 31, 2022 Notional amount Notional amount Unused credit card limits Ps. 12,449,298 Ps. 11,861,422 Approved credits not disbursed 4,818,508 5,037,950 Credit arrangements 4,223,426 4,119,577 Guarantees 3,052,607 4,679,653 Unused limits of overdrafts 2,264,226 2,491,299 Unused letters of credit 735,472 1,203,070 Other 2,255,007 1,615,198 Total Ps. 29,798,544 Ps. 31,008,169 |
Disclosure of guarantees, letters of credit and credit commitments on non-used credit lines | December 31, 2023 December 31, 2022 Colombian Pesos Ps. 25,821,105 Ps. 25,497,816 U.S. dollars 3,962,607 5,480,746 Euro 13,585 27,934 Other 1,247 1,673 Total Ps. 29,798,544 Ps. 31,008,169 |
Disclosure of detail of the credit commitments | December 31, 2023 Gross Gross Amounts Net Amounts of Gross Amounts Not Amounts of Offset in the Assets Presented in Offset in the Consolidated Balance Sheet Recognized Consolidated the Consolidated Financial Cash collateral Net Assets Balance Sheet Balance Sheet Instruments Received Exposure Offsetting assets Derivatives Ps. 2,126,229 Ps. — Ps. 2,126,229 Ps. (1,911,903) Ps. (235,189) Ps. (20,863) Repurchase agreements 86,192 — 86,192 (27,803) — 58,389 Total Ps. 2,212,421 Ps. — Ps. 2,212,421 Ps. (1,939,706) Ps. (235,189) Ps. 37,526 Gross Gross Amounts Net Amounts of Gross Amounts Not Amounts of Offset in the Liabilities Presented in Offset in the Consolidated Balance Sheet Recognized Consolidated the Consolidated Financial Cash collateral Net Liabilities Balance Sheet Balance Sheet Instruments Delivered Exposure Offsetting liabilities Derivatives Ps. 2,371,927 Ps. — Ps. 2,371,927 Ps. (313,095) Ps. (245,344) Ps. 1,813,488 Repurchase agreements 14,366,933 — 14,366,933 (16,874,942) (1,025,691) (3,533,700) Total Ps. 16,738,860 Ps. — Ps. 16,738,860 Ps. (17,188,037) Ps. (1,271,035) Ps. (1,720,212) December 31, 2022 Gross Gross Amounts Net Amounts of Gross Amounts Not Amounts of Offset in the Assets Presented in Offset in the Consolidated Balance Sheet Recognized Consolidated the Consolidated Financial Cash collateral Net Assets Balance Sheet Balance Sheet Instruments Received Exposure Offsetting assets Derivatives Ps. 2,062,259 Ps. — Ps. 2,062,259 Ps. (1,509,856) Ps. (370,249) Ps. 182,154 Repurchase agreements 5,343,325 — 5,343,325 (4,882,569) (47,169) 413,587 Total Ps. 7,405,584 Ps. — Ps. 7,405,584 Ps. (6,392,425) Ps. (417,418) Ps. 595,741 Gross Gross Amounts Net Amounts of Gross Amounts Not Amounts of Offset in the Liabilities Presented in Offset in the Consolidated Balance Sheet Recognized Consolidated the Consolidated Financial Cash collateral Net Liabilities Balance Sheet Balance Sheet Instruments Delivered Exposure Offsetting liabilities Derivatives Ps. 1,761,174 Ps. — Ps. 1,761,174 Ps. (265,295) Ps. (316,446) Ps. 1,179,433 Repurchase agreements 8,348,068 — 8,348,068 (11,091,726) (1,325,386) (4,069,044) Total Ps. 10,109,242 Ps. — Ps. 10,109,242 Ps. (11,357,021) Ps. (1,641,832) Ps. (2,889,611) |
Disclosure of breakdown of financial assets and liabilities exposed to trading risk held | Account December 31, 2023 December 31, 2022 Financial assets Debt financial assets Trading investments in debt securities Ps. 7,113,380 Ps. 3,760,887 Investments in debt securities mandatorily at FVTPL 1,889 1,378 Investments in debt securities at FVOCI 23,326,776 22,461,805 Total debt securities Ps. 30,442,045 Ps. 26,224,070 Derivative assets instruments Ps. 2,077,567 Ps. 2,041,405 Hedging derivatives assets 48,662 20,854 2,126,229 2,062,259 Total financial assets Ps. 32,568,274 Ps. 28,286,329 Liabilities Derivative liabilities instruments 2,154,361 1,757,606 Hedging derivatives liabilities 217,566 3,568 Total financial liabilities 2,371,927 1,761,174 Net position Ps. 30,196,347 Ps. 26,525,155 |
Disclosure of market value-at-risk (VaR) for subsidiaries | December 31, 2023 December 31, 2022 Basis points of Basis points of Entity Value at Risk regulatory capital Value at Risk regulatory capital Banco Bogotá S.A. Ps. 639,228 111 Ps. 759,624 116 Banco de Occidente S.A. 218,355 67 272,515 90 Banco AV Villas S.A. 47,004 55 96,711 105 Banco Popular S.A. (1) 336,718 185 147,685 116 Corficolombiana S.A. (1) 240,068 519 190,534 484 Porvenir S.A. 10,927 92 13,808 148 |
Disclosure of breaks down our investments subject to regulatory VaR | At December 31, 2023 2022 Investment Investment subject to Percentage subject to Regulatory Regulatory of Regulatory Regulatory Percentage of VaR VaR portfolio VaR VaR portfolio More than 36 months Ps. 43,765 Ps. 6,433 100 % Ps. 44,122 Ps. 6,486 100 % Total Ps. 43,765 Ps. 6,433 100 % Ps. 44,122 Ps. 6,486 100 % |
Disclosure of foreign currency assets and liabilities are in U.S. dollars and foreign currencies | December 31,2023 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 1,248 60 Ps. 4,996,706 Trading investments in debt securities 78 — 298,792 Investments in debt securities at FVOCI 1,930 — 7,376,923 Investments in debt securities at amortized cost 597 — 2,280,108 Loan portfolio financial assets at amortized cost 8,043 — 30,739,665 Derivative financial assets held for trading 544 — 2,077,567 Derivative financial assets held for hedging — — 687 Trade receivable 719 — 2,748,599 Total financial assets 13,159 60 Ps. 50,519,047 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Derivative financial liabilities held for trading 564 — Ps. 2,154,361 Derivative financial liabilities held for hedging 53 — 204,202 Customer deposits 7,048 34 27,070,411 Financial obligations 8,072 1 30,857,352 Accounts payable 242 — 921,552 Total financial liabilities 15,979 35 61,207,878 Net financial asset (liability) position (2,820) 25 Ps. (10,688,831) December 31,2022 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial assets Cash and cash equivalents 1,208 34 Ps. 5,972,792 Trading investments in debt securities 37 — 180,032 Investments in debt securities at FVOCI 1,691 — 8,135,015 Investments in debt securities at amortized cost 608 — 2,923,279 Loan portfolio financial assets at amortized cost 7,421 1 35,699,330 Derivative financial assets held for trading 314 — 1,512,459 Derivative financial assets held for hedging 1 — 4,829 Trade receivable 705 63 3,694,659 Total financial assets 11,985 98 Ps. 58,122,395 Other currencies Total in U.S. dollars converted to U.S. Colombian pesos Account (Millions) dollars (Millions) (Millions) Financial liabilities Derivative financial liabilities held for trading 237 — Ps. 1,141,963 Derivative financial liabilities held for hedging — — 1,553 Customer deposits 6,482 19 31,269,619 Financial obligations 9,097 5 43,779,895 Accounts payable 122 — 587,589 Total financial liabilities 15,938 24 76,780,619 Net financial asset (liability) position (3,953) 74 Ps. (18,658,224) |
Disclosure of sensitivities of profit or loss before taxes and equity (OCI) to reasonably possible changes in exchange rates | December 31,2023 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity (mainly OCI) Ps. 2,840 Ps. (2,840) Profit and loss before taxes (174,869) 174,869 December 31,2022 Increase Decrease Ps.100 per U.S. Ps.100 per U.S. dollar dollar Equity (mainly OCI) Ps. 13,538 Ps. (13,538) Profit and loss before taxes (156,263) 156,263 |
Disclosure of interest rates exposure for assets and liabilities | December 31, 2023 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 5,563,358 Ps. 854 Ps. 1,684 Ps. — Ps. 13,031,965 Ps. 18,597,861 Trading investments in debt securities 41,179 251,925 539,012 6,281,264 — 7,113,380 Investments in debt securities mandatorily at FVTPL — — 439 1,450 — 1,889 Investments in debt securities at FVOCI 110,939 720,636 3,727,517 18,767,684 — 23,326,776 Investments in debt securities at amortized cost 927,454 3,402,597 3,389,804 2,276,706 — 9,996,561 Trade receivable at FVTPL — — — 3,830,916 — 3,830,916 Commercial loans 12,496,990 48,530,829 11,530,367 34,489,631 — 107,047,817 Consumer loans 4,014,604 3,485,355 1,627,002 50,872,650 — 59,999,611 Mortgages loans 3,369,639 218,540 6,817 14,891,210 — 18,486,206 Microcredit loans 23,946 11,431 33,079 209,073 — 277,529 Interbank and overnight founds 247,668 144,939 — — — 392,607 Trade receivable 12,346 4,380 3,207 1,704,180 20,447,860 22,171,973 Total Assets Ps. 26,808,123 Ps. 56,771,486 Ps. 20,858,928 Ps. 133,324,764 Ps. 33,479,825 Ps. 271,243,126 — Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 4,746,654 Ps. — 11,904,157 — 7,159,048 Ps. 23,809,859 Time deposits 8,037,475 39,999,744 21,559,845 17,000,396 — 86,597,460 Saving deposits 71,149,883 — — — — 71,149,883 Other deposits 12,379 15,455 — — 402,360 430,194 Interbank and overnight funds 13,298,927 1,762,116 — 20,877 — 15,081,920 Leases contracts 3,962 55,871 77,762 2,654,153 — 2,791,748 Borrowing from banks and similar 2,001,170 6,011,525 2,710,163 8,703,854 — 19,426,712 Long-term debt 58,142 4,053,694 565,465 18,750,525 — 23,427,826 Borrowing from development entities 2,441,548 1,082,184 165,940 1,123,461 — 4,813,133 Total Liabilities Ps. 101,750,140 Ps. 52,980,589 Ps. 36,983,332 Ps. 48,253,266 Ps. 7,561,408 Ps. 247,528,735 December 31, 2022 Less than From one to From six to More than a Non- Assets one month six months twelve months year interest Total Cash and cash equivalents Ps. 6,066,944 Ps. — Ps. — Ps. — Ps. 10,965,913 Ps. 17,032,857 Trading investments in debt securities 75,943 715,117 107,442 2,862,385 — 3,760,887 Investments in debt securities mandatorily at FVTPL — — — 1,378 — 1,378 Investments in debt securities at FVOCI 280,301 2,912,007 700,112 18,569,385 — 22,461,805 Investments in debt securities at amortized cost 967,123 5,543,804 294,035 2,966,530 — 9,771,492 Trade receivable at FVTPL — — — 3,507,231 — 3,507,231 Commercial loans 14,928,623 43,243,207 9,111,072 37,492,197 — 104,775,099 Consumer loans 4,310,303 3,698,330 1,321,030 50,089,781 — 59,419,444 Mortgages loans 4,124,086 84,730 12,666 13,661,873 — 17,883,355 Microcredit loans 19,228 10,989 31,573 205,930 — 267,720 Interbank and overnight founds 5,669,519 298,224 — — — 5,967,743 Trade receivable — 162 — 1,947,806 18,307,790 20,255,758 Total Assets Ps. 36,442,070 Ps. 56,506,570 Ps. 11,577,930 Ps. 131,304,496 Ps. 29,273,703 Ps. 265,104,769 Less than From one to From six to More than a Non- Liabilities one month six months twelve months year interest Total Checking accounts Ps. 5,926,936 Ps. — Ps. — Ps. — Ps. 20,005,117 Ps. 25,932,053 Time deposits 7,008,761 33,911,426 19,107,280 12,246,230 — 72,273,697 Saving deposits 74,293,894 — — — — 74,293,894 Other deposits — — — — 841,505 841,505 Interbank and overnight funds 7,608,690 835,124 77,463 566,644 — 9,087,921 Leases contracts 3,417 48,775 91,354 2,192,398 — 2,335,944 Borrowing from banks and similar 2,262,503 14,698,824 3,877,438 7,134,649 — 27,973,414 Long-term debt 633,431 5,875,058 543,176 21,310,556 — 28,362,221 Borrowing from development entities 2,386,311 708,979 39,901 1,222,084 — 4,357,275 Total Liabilities Ps. 100,123,943 Ps. 56,078,186 Ps. 23,736,612 Ps. 44,672,561 Ps. 20,846,622 Ps. 245,457,924 |
Disclosure of breakdown of non-interest-bearing and interest-bearing assets and liabilities by interest rate type and by maturity | December 31, 2023 Under one year Over one year Non- Assets Variable Fixed Variable Fixed interest Total Cash due from banks and Central Bank Ps. 2,799,607 Ps. 2,766,289 Ps. — Ps. — Ps. 13,031,965 Ps. 18,597,861 Trading investments in debt securities 319,900 512,216 109,777 6,171,487 — 7,113,380 Investments in debt securities mandatorily at FVTPL — 439 — 1,450 — 1,889 Investments in debt securities at FVOCI 132,430 4,426,662 1,016,347 17,751,337 — 23,326,776 Investments in debt securities at amortized cost 5,112,355 2,607,500 133,704 2,143,002 — 9,996,561 Trade receivable at FVTPL — — 3,830,916 — — 3,830,916 Commercial loans 45,221,180 11,797,765 43,030,934 6,997,938 — 107,047,817 Consumer loans 929,574 9,750,154 5,516,791 43,803,092 — 59,999,611 Mortgages loans 53,719 811,497 3,498,709 14,122,281 — 18,486,206 Microcredit loans 1,170 161,497 696 114,166 — 277,529 Interbank and overnight founds — 392,607 — — — 392,607 Trade receivable 18,707 — 325,016 1,380,390 20,447,860 22,171,973 Total Assets Ps. 54,588,642 Ps. 33,226,626 Ps. 57,462,890 Ps. 92,485,143 Ps. 33,479,825 Ps. 271,243,126 Under one year Over one year Non- Liabilities Variable Fixed Variable Fixed interest Total Checking accounts Ps. 1,857,769 Ps. 14,793,042 Ps. — Ps. — Ps. 7,159,048 Ps. 23,809,859 Time deposits 13,167,807 53,716,494 5,711,093 14,002,066 — 86,597,460 Saving deposits 8,492,708 62,657,175 — — — 71,149,883 Other deposits 12,379 15,455 — — 402,360 430,194 Interbank and overnight funds 1,023,612 14,037,431 — 20,877 — 15,081,920 Leases contracts 2,989 115,379 356,454 2,316,926 — 2,791,748 Borrowing from banks and other 6,089,836 4,531,168 7,158,457 1,647,251 — 19,426,712 Long-term debt 812,106 771,189 7,133,109 14,711,422 — 23,427,826 Borrowing from development entities 417,219 133,720 3,340,632 921,562 — 4,813,133 Total Liabilities Ps. 31,876,425 Ps. 150,771,053 Ps. 23,699,745 Ps. 33,620,104 Ps. 7,561,408 Ps. 247,528,735 December 31, 2022 Under one year Over one year Non- Assets Variable Fixed Variable Fixed interest Total Cash due from banks and Central Bank Ps. 2,682,724 Ps. 3,384,220 Ps. — Ps. — Ps. 10,965,913 Ps. 17,032,857 Trading investments in debt securities 337,636 425,970 134,897 2,862,384 — 3,760,887 Investments in debt securities mandatorily at FVTPL — — — 1,378 — 1,378 Investments in debt securities at FVOCI 861,729 2,609,594 1,254,542 17,735,940 — 22,461,805 Investments in debt securities at amortized cost 4,555,437 2,326,296 243,662 2,646,097 — 9,771,492 Trade receivable at FVTPL — — 3,507,231 — — 3,507,231 Commercial loans 42,226,647 9,808,684 47,072,091 5,667,677 — 104,775,099 Consumer loans 1,006,251 8,380,874 6,199,484 43,832,835 — 59,419,444 Mortgages loans 44,520 708,435 4,166,107 12,964,293 — 17,883,355 Microcredit loans 1,296 154,055 1,001 111,368 — 267,720 Interbank and overnight founds 47,128 5,920,615 — — — 5,967,743 Trade receivable 162 — 305,684 1,642,122 18,307,790 20,255,758 Total Assets Ps. 51,763,530 Ps. 33,718,743 Ps. 62,884,699 Ps. 87,464,094 Ps. 29,273,703 Ps. 265,104,769 Under one year Over one year Non- Liabilities Variable Fixed Variable Fixed interest Total Checking accounts Ps. 735,536 Ps. 5,191,400 Ps. — Ps. — Ps. 20,005,117 Ps. 25,932,053 Time deposits 14,474,525 40,361,808 5,887,596 11,549,768 — 72,273,697 Saving deposits 10,472,330 62,653,236 1,168,328 — — 74,293,894 Other deposits — — — — 841,505 841,505 Interbank and overnight funds 2,611,592 1,978,380 4,497,949 — — 9,087,921 Leases contracts 897,471 181,509 244,062 1,012,902 — 2,335,944 Borrowing from banks and other 8,862,681 13,195,008 1,987,704 3,928,021 — 27,973,414 Long-term debt 3,600,832 5,662,371 4,556,550 14,542,468 — 28,362,221 Borrowing from development entities 313,459 171,581 3,121,907 750,328 — 4,357,275 Total Liabilities Ps. 41,968,426 Ps. 129,395,293 Ps. 21,464,096 Ps. 31,783,487 Ps. 20,846,622 Ps. 245,457,924 |
Disclosure of breakdown of the liquid assets by maturity | December 31, 2023 Liquid assets available at the end From 31 to 90 Bank of the year (1) From 1 to 7 days (2) From 1 to 30 days (2) days (2) Banco de Bogota Ps. 11,924,823 Ps. 9,811,253 Ps. 2,568,828 Ps. (15,278,208) Banco Occidente 8,638,565 6,727,345 2,531,186 (8,473,508) Banco Popular 4,896,134 4,641,802 1,525,529 (5,458,950) Banco AV Villas 2,328,186 2,027,630 992,892 (2,408,230) Corficolombiana 2,073,055 1,138,855 222,748 (893,740) December 31, 2022 Liquid assets available at the end From 31 to 90 Bank of the year (1) From 1 to 7 days (2) From 1 to 30 days (2) days (2) Banco de Bogota Ps. 11,749,890 Ps. 10,865,287 Ps. 6,445,745 Ps. (15,602,231) Banco Occidente 7,858,675 6,955,066 3,243,471 (5,830,252) Banco Popular 5,283,312 4,141,163 1,588,642 (5,038,168) Banco AV Villas 2,299,072 1,828,016 487,831 (3,202,904) Corficolombiana 2,204,574 1,595,742 729,790 (358,231) (1) Liquid assets are the sum of assets that are easily convertible into cash. Fixed income investments at amortized cost and financial investments pledged as collateral or subject to any other type of encumbrance, preventive measure or of any nature, that prevent their free assignment or transfer, as well as those that have been transferred under repurchase agreements, simultaneous or temporary transfer of securities are excluded. Liquid assets are measured at fair value (market prices on the evaluation date). (2) This amount is the remaining value of the liquid assets in the specified time period, or the IRL, that is calculated as the difference between liquid assets and liquid assets requirement, according to the IRL methodology, the liquidity requirement is the difference of contractual cash inflows and contractual and non-contractual cash outflows during a given period. The following tables show the individual IRL Ratio as of December 31, 2023 and 2022 for each of our banks in Colombia and Corficolombiana, expressed in Ps billions and as a percentage: |
Disclosure of IRL ratio amounts | At December 31, Banco de Bogotá Banco de Occidente Banco Popular Banco AV Villas Corficolombiana 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 (in Ps) IRL – 7 days 9,811 10,865 5,610 5,338 4,642 4,141 2,028 1,828 1,207 1,542 IRL – 30 days 2,569 6,446 1,816 1,921 1,526 1,589 993 488 661 866 |
Disclosure of IRL ration percentage | At December 31, Banco de Bogotá Banco de Occidente Banco Popular Banco AV Villas Corficolombiana 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 (in percentages) IRL – 7 days 564 1,328 419 744 1,925 463 775 488 255 358 IRL – 30 days 127 222 133 145 145 143 174 127 150 168 |
Disclosure of flows of the financial assets and liabilities including contractual interest receivable and payable | December 31, 2023 Less than From one to six From six to twelve More than Assets one month months months a year Total Cash and cash equivalents Ps. 18,602,500 Ps. 857 Ps. 1,684 Ps. — Ps. 18,605,041 Trading investments in debt securities 280,749 291,449 702,337 7,344,266 8,618,801 Investments in debt securities at FVOCI 142,920 1,192,286 3,861,978 20,682,574 25,879,758 Investments in debt securities at amortized cost 693,748 2,693,803 2,947,927 2,434,713 8,770,191 Commercial loans 11,914,475 30,973,505 21,141,485 64,172,735 128,202,200 Consumer loans 2,158,202 7,770,536 8,209,258 63,814,118 81,952,114 Mortgages loans 343,857 978,325 1,013,632 33,229,142 35,564,956 Microcredit loans 38,412 87,318 86,420 146,971 359,121 Interbank and overnight funds 392,679 — — — 392,679 Trading derivatives 1,172,036 640,291 111,538 110,978 2,034,843 Hedging derivatives 47,977 — 685 — 48,662 Trade receivable 3,127,198 113,763 29,350 22,733,228 26,003,539 Other assets 156,961 — 5 720,429 877,395 Total Assets Ps. 39,071,714 Ps. 44,742,133 Ps. 38,106,299 Ps. 215,389,154 Ps. 337,309,300 Less than From one to six From six to twelve More than Liabilities one month months months a year Total Checking accounts Ps. 23,809,859 Ps. — Ps. — Ps. — Ps. 23,809,859 Time Deposits 14,800,170 35,683,285 24,156,548 21,322,829 95,962,832 Saving deposits 71,149,882 — — — 71,149,882 Other deposits 374,711 54,195 — 1,287 430,193 Interbank and overnight funds 13,305,891 1,788,786 — 20,877 15,115,554 Leases contracts 13,938 106,429 120,495 3,078,016 3,318,878 Borrowing from banks and other 1,663,276 6,250,680 3,090,588 11,827,108 22,831,652 Long-term debt 121,155 1,272,012 1,344,746 26,135,181 28,873,094 Borrowing from development entities 837,304 657,920 689,454 10,664,762 12,849,440 Trading derivatives 1,263,315 522,915 155,907 176,630 2,118,767 Hedging derivatives 204,251 305 5,252 6,722 216,530 Other liabilities 5,278,275 330,995 189,229 1,951,625 7,750,124 Total Liabilities Ps. 132,822,027 Ps. 46,667,522 Ps. 29,752,219 Ps. 75,185,037 Ps. 284,426,805 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 1,813,970 Ps. 80,012 Ps. 30,320 Ps. 497,844 Ps. 2,422,146 Standby letters of credit 606,747 89,801 925 39,000 736,473 Overdraft facility 2,264,226 — — — 2,264,226 Standby credit card facility 11,917,268 112,006 84,005 336,019 12,449,298 Undrawn approved loans 4,002,210 218,112 — — 4,220,322 Others 2,686,426 70,360 — — 2,756,786 Total Commitments Loans Ps. 23,290,847 Ps. 570,291 Ps. 115,250 Ps. 872,863 Ps. 24,849,251 December 31, 2022 Less than one From one to From six to More than a Assets month six months twelve months year Total Cash and cash equivalents Ps. 17,032,854 Ps. 3 Ps. — Ps. — Ps. 17,032,857 Trading investments in debt securities 418,517 342,829 543,610 3,327,753 4,632,709 Investments in debt securities at FVOCI 2,019,842 2,008,753 5,356,480 18,078,127 27,463,202 Investments in debt securities at amortized cost 837,574 3,332,038 3,352,039 3,060,353 10,582,004 Commercial loans 10,636,895 29,541,405 18,415,847 63,675,959 122,270,106 Consumer loans 2,189,168 7,398,698 7,879,319 64,072,652 81,539,837 Mortgages loans 272,343 857,162 867,775 29,404,640 31,401,920 Microcredit loans 33,737 83,934 82,723 140,790 341,184 Interbank and overnight funds 5,966,991 68 — — 5,967,059 Trading derivatives 1,242,228 367,115 199,530 254,096 2,062,969 Hedging derivatives 15,335 1,886 2,387 1,246 20,854 Trade receivable 2,510,396 161 15,517 21,234,935 23,761,009 Other assets 298,780 — 50,200 1,524,369 1,873,349 Total Assets Ps. 43,474,660 Ps. 43,934,052 Ps. 36,765,427 Ps. 204,774,920 Ps. 328,949,059 Less than one From one to From six to More than a Liabilities month six months twelve months year Total Checking accounts Ps. 25,932,054 Ps. — Ps. — Ps. — Ps. 25,932,054 Time Deposits 9,555,229 31,700,316 20,831,413 17,911,277 79,998,235 Saving deposits 74,293,894 — — — 74,293,894 Other deposits 538,387 301,996 — 1,124 841,507 Interbank and overnight funds 6,179,455 771,719 77,350 2,182,987 9,211,511 Leases contracts 12,387 90,521 140,578 2,200,644 2,444,130 Borrowing from banks and other 2,118,373 11,036,815 6,878,016 10,172,835 30,206,039 Long-term debt 356,759 3,550,122 1,144,997 31,041,844 36,093,722 Borrowing from development entities 178,136 1,439,502 485,447 6,426,663 8,529,748 Trading derivatives 860,852 579,886 230,643 278,889 1,950,270 Hedging derivatives 1,531 516 — 3,352 5,399 Other liabilities 4,155,257 145,183 — 1,993,490 6,293,930 Total Liabilities Ps. 124,182,314 Ps. 49,616,576 Ps. 29,788,444 Ps. 72,213,105 Ps. 275,800,439 Less than one From one to From six to More than a Commitments Loans month six months twelve months year Total Guarantees Ps. 2,129,962 Ps. 142,987 Ps. 61,140 Ps. 1,218,215 Ps. 3,552,304 Standby letters of credit 947,723 714 — 18 948,455 Overdraft facility 2,491,299 — — — 2,491,299 Standby credit card facility 11,263,240 125,933 94,450 377,799 11,861,422 Undrawn approved loans 3,133,043 98,505 — — 3,231,548 Others 1,023,527 — — — 1,023,527 Total Commitments Loans Ps. 20,988,794 Ps. 368,139 Ps. 155,590 Ps. 1,596,032 Ps. 23,108,555 |
Disclosure of subsidiaries complied with the minimum regulatory capital requirements | The following tables show the separate and consolidated (where applicable) capitalization information of our main direct and indirect subsidiaries: Banco de Bogotá S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 3,553 Ps. 3,553 Ps. 3,553 Ps. 3,553 Reserves and retained earnings 14,635,826 13,507,497 14,988,657 13,301,448 Other comprehensive income 8,114 51,008 (122,944) 41,828 Net income for the period 1,024,884 2,251,716 954,173 2,804,925 Non-controlling interests — — — — Deductions: Unconsolidated financial sector investments — (3,364,280) — (3,261,888) Goodwill and other intangibles (1,220,146) (1,054,448) (1,504,225) (1,416,196) Deferred tax assets (815,194) (1,306,888) (672,813) (1,035,857) Other — — (1,431) (111) Common Equity Tier One Capital - CET1 Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Subordinated instruments 2,573,696 3,135,871 2,573,696 3,135,871 Plus/minus others 160,637 424,829 — — Tier II capital 2,734,333 3,560,700 2,573,696 3,135,871 Other deductions from technical capital — — — — Technical capital Ps. 16,371,370 Ps. 13,648,858 Ps. 16,218,665 Ps. 13,573,572 Risk-weighted assets 76,811,668 68,771,856 91,625,712 88,898,130 Market risk 491,571 495,392 639,228 759,624 Market risk exposure (1) 5,461,900 5,504,360 7,102,531 8,440,262 Operational risk 521,135 527,420 612,546 577,099 Operational risk exposure (1) 5,790,384 5,860,219 6,806,068 6,412,206 Risk-weighted assets including regulatory market risk and operational risk Ps. 88,063,952 Ps. 80,136,435 Ps. 105,534,310 Ps. 103,750,598 CET1 solvency ratio 15.49% 12.59% 12.93% 10.06% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 15.49% 12.59% 12.93% 10.06% Tier II contribution to solvency ratio 3.10% 4.44% 2.44% 3.02% Total solvency ratio (2) 18.59% 17.03% 15.37% 13.08% Capital measure Ps. 13,637,037 Ps. 10,088,159 Ps. 13,644,969 Ps. 10,437,701 Exposure measure 120,114,582 106,717,652 141,766,918 136,096,623 Leverage ratio 11.35% 9.45% 9.62% 7.67% (1) (2) Banco de Occidente S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 4,677 Ps. 4,677 Ps. 4,677 Ps. 4,677 Reserves and retained earnings 4,782,349 4,525,930 4,996,111 4,791,295 Other comprehensive income 28,731 (124,708) 176,033 (65,254) Net income for the period 430,603 502,643 473,554 452,493 Non-controlling interests — — 11,843 — Deductions: Unconsolidated financial sector investments — (224,184) — (226,950) Goodwill and other intangibles (643,350) (586,129) (594,581) (533,300) Deferred tax assets (251,878) (144,581) — — Other (2,867) (4,190) (2,867) (4,190) CET1 Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Subordinated instruments 649,305 834,895 649,305 834,895 Plus/minus others 26,190 85,332 — — Tier II capital 675,495 920,227 649,305 834,895 Other deductions from technical capital — — — — Technical capital Ps. 5,023,760 Ps. 4,869,684 Ps. 5,714,075 Ps. 5,253,666 Risk-weighted assets 38,073,928 34,616,008 41,324,390 37,591,858 Market risk 184,778 229,199 218,356 272,515 Market risk exposure (1) 2,053,092 2,546,656 2,426,174 3,027,946 Operational risk 235,639 203,225 236,239 227,231 Operational risk exposure (1) 2,618,213 2,258,057 2,624,877 2,524,786 Risk-weighted assets including regulatory market risk and operational risk Ps. 42,745,234 Ps. 39,420,721 Ps. 46,375,441 Ps. 43,144,590 CET1 solvency ratio 10.17% 10.02% 10.92% 10.24% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 10.17% 10.02% 10.92% 10.24% Tier II contribution to solvency ratio 1.58% 2.33% 1.40% 1.94% Total solvency ratio (2) 11.75% 12.35% 12.32% 12.18% Capital measure Ps. 4,348,265 Ps. 3,949,457 Ps. 5,064,770 Ps. 4,418,771 Exposure measure 65,855,871 56,629,015 70,759,147 62,211,737 Leverage ratio 6.60% 6.97% 7.16% 7.10% (1) (2) Banco Comercial AV Villas S.A. Separate basis At December 31, 2023 2022 Subscribed and paid-in capital Ps. 22,297 Ps. 22,297 Reserves and retained earnings 1,658,248 1,524,474 Other comprehensive income 57,285 (30,491) Net income for the period (117,126) 112,035 Non-controlling interests — — Deductions: Unconsolidated financial sector investments — — Goodwill and other intangibles (159,586) (124,474) Deferred tax assets (10,239) — Other (123,976) (153,441) CET1 Ps. 1,326,904 Ps. 1,350,401 Hybrid instruments recognized as additional primary capital — — Other 176 176 AT1 176 176 Tier I Ps. 1,327,079 Ps. 1,350,576 Subordinated instruments — — Plus/minus others 24,471 25,317 Tier II capital 24,471 25,317 Other deductions from technical capital — — Technical capital Ps. 1,351,551 Ps. 1,375,893 Risk-weighted assets 10,054,415 10,419,661 Market risk 47,003 96,711 Market risk exposure (1) 522,254 1,074,571 Operational risk 95,732 81,824 Operational risk exposure (1) 1,063,689 909,158 Risk-weighted assets including regulatory market risk and operational risk Ps. 11,640,358 Ps. 12,403,391 CET1 solvency ratio 11.40% 10.89% AT1 contribution to solvency ratio 0.00% 0.00% Tier 1 capital solvency ratio 11.40% 10.89% Tier II contribution to solvency ratio 0.21% 0.20% Total solvency ratio (2) 11.61% 11.09% Capital measure Ps. 1,327,079 Ps. 1,350,576 Exposure measure 18,873,410 19,487,267 Leverage ratio 7.03% 6.93% (1) (2) Banco Popular S.A. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 77,253 Ps. 77,253 Ps. 77,253 Ps. 77,253 Reserves and retained earnings 2,839,567 2,751,656 2,981,939 2,876,025 Other comprehensive income 79,481 68,673 222,322 198,193 Net income for the period (347,409) 73,035 (402,676) 80,210 Non-controlling interests — — 6,794,087 29,714 Deductions: Unconsolidated financial sector investments — (355,124) — (355,124) Goodwill and other intangibles (361,170) (288,139) (446,032) (293,825) Deferred tax assets — — — — Other (87,539) (157,747) (89,253) (157,747) CET1 Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Hybrid instruments recognized as additional primary capital — — — — Other — — — — AT1 — — — — Tier I Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Subordinated instruments 327,018 177,147 77,018 177,147 Plus/minus others 20,775 25,697 — — Tier II capital 347,793 202,844 77,018 177,147 Other deductions from technical capital — — (36,876) — Technical capital Ps. 2,547,976 Ps. 2,372,452 Ps. 9,177,782 Ps. 2,631,847 Risk-weighted assets 16,670,146 18,453,236 36,166,365 18,473,302 Market risk 83,118 136,503 336,718 147,685 Market risk exposure (1) 923,539 1,516,695 3,741,309 1,640,943 Operational risk 136,419 112,786 462,427 115,899 Operational risk exposure (1) 1,515,762 1,253,181 5,138,073 1,287,767 Risk-weighted assets including regulatory market risk and operational risk Ps. 19,109,447 Ps. 21,223,112 Ps. 45,045,747 Ps. 21,402,012 CET1 solvency ratio 11.51% 10.22% 20.29% 11.47% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 11.51% 10.22% 20.29% 11.47% Tier II contribution to solvency ratio 1.82% 0.96% 0.17% 0.83% Total solvency ratio (2) 13.33% 11.18% 20.37% 12.30% Capital measure Ps. 2,200,184 Ps. 2,169,608 Ps. 9,137,641 Ps. 2,454,700 Exposure measure 29,393,566 32,226,919 56,066,107 32,249,192 Leverage ratio 7.49% 6.73% 16.30% 7.61% (1) (2) Corficolombiana S.A. Starting November 22, 2023, Corficolombiana is consolidated under Banco Popular as a result of the shareholders’ agreement mentioned above. Notwithstanding the above, Corficolombiana has to comply with minimum capital requirements on a separate and consolidated basis. Separate basis Consolidated basis At December 31, At December 31, 2023 2022 2023 2022 Subscribed and paid-in capital Ps. 3,464 Ps. 3,464 Ps. 3,464 Ps. 3,464 Reserves and retained earnings 11,233,257 9,929,403 10,829,636 9,587,611 Other comprehensive income (76,643) (383,161) 366,032 47,709 Net income for the period 808,982 1,774,040 886,012 1,713,807 Non-controlling interests — — 1,380 1,210 Deductions: Unconsolidated financial sector investments — — — — Goodwill and other intangibles (99,130) (90,578) (78,011) (66,553) Deferred tax assets — — — (5,191) Other (1,480) (1,350) (5,964) (5,847) CET1 Ps. 11,868,451 Ps. 11,231,819 Ps. 12,002,549 Ps. 11,276,209 Hybrid instruments recognized as additional primary capital — — — — Other 192 192 192 192 AT1 192 192 192 192 Tier I Ps. 11,868,643 Ps. 11,232,011 Ps. 12,002,741 Ps. 11,276,401 Subordinated instruments — — — — Plus/minus others — — — — Tier II capital — — — — Other deductions from technical capital (36,876) (44,131) (36,876) (44,131) Technical capital Ps. 11,831,767 Ps. 11,187,880 Ps. 11,965,865 Ps. 11,232,270 Risk-weighted assets 19,894,398 18,323,118 20,189,704 18,238,986 Market risk 235,605 185,978 240,068 190,534 Market risk exposure (1) 2,617,835 2,066,426 2,667,427 2,117,047 Operational risk 290,604 259,287 298,733 303,453 Operational risk exposure (1) 3,228,933 2,880,964 3,319,258 3,371,697 Risk-weighted assets including regulatory market risk and operational risk Ps. 25,741,166 Ps. 23,270,508 Ps. 26,176,390 Ps. 23,727,731 CET1 solvency ratio 46.11% 48.27% 45.85% 47.52% AT1 contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Tier 1 capital solvency ratio 46.11% 48.27% 45.85% 47.52% Tier II contribution to solvency ratio 0.00% 0.00% 0.00% 0.00% Total solvency ratio (2) 45.96% 48.08% 45.71% 47.34% Capital measure Ps. 11,868,643 Ps. 11,232,011 Ps. 12,002,741 Ps. 11,276,401 Exposure measure 27,068,698 24,099,107 27,699,079 24,589,959 Leverage ratio 43.85% 46.61% 43.33% 45.86% (1) (2) Porvenir S.A. Likewise, Porvenir has adequately complied with the capital requirements established for pensions fund administrators in Colombia. The following is the detail of the capital requirements defined for this type of financial institution: Separate basis At December 31, 2023 2022 Subscribed and paid-in capital Ps. 109,211 Ps. 109,211 Reserves and retained earnings 2,265,587 2,312,131 Deductions: Others (50,626) (50,626) Primary capital Ps. 2,324,172 Ps. 2,370,715 Unrealized gains/losses on securities available for sale(1) (8,474) (31,628) Secondary capital (Tier II) Ps. (8,474) Ps. (31,628) Deductions: Value of the stabilization reserve (1,911,568) (1,781,676) Technical capital Ps. 404,130 Ps. 557,412 Risk-weighted assets 886,689 907,164 Market risk 10,927 13,808 Market risk exposure (1) 121,408 153,419 Operational risk 122,398 127,819 Operational risk exposure (1) 1,359,975 1,420,213 Risk-weighted assets including regulatory market risk and operational risk Ps. 2,368,072 Ps. 2,480,795 Solvency ratio (3) 17.07% 22.47% (1) (2) (3) |
Colombia | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of macroeconomic variables used expected credit loss calculation | 2023 2022 Real Scenario Scenario A Scenario B Scenario C Inflation 9.28% 7.93% 7.83% 7.86% Interest rate 13.00% 8.00% 8.75% 9.25% GDP Growth 0.60% (0.53%) 1.29% 2.37% Unemployment rate 10.00% 11.15% 10.44% 9.46% DTF Interest rate 12.63% 8.64% 8.90% 9.36% |
Disclosure of economic scenario for key indicators of credit risk | The economic scenarios used as of December 31, 2023, and 2022 (one-year projections) include the following expected scenarios of key indicators (among others) for Colombia. 2023 2022 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Inflation 4.44% 6.05% 8.26% 7.93% 7.83% 7.86% DTF Interest rate 7.10% 9.04% 10.62% 8.64% 8.90% 9.36% GDP Growth (1.07%) 0.99% 2.70% (0.53%) 1.29% 2.37% Used home prices (3.15%) (2.11%) (1.02%) (1.48%) 0.07% 1.75% Unemployment rate 11.96% 10.43% 8.77% 11.15% 10.44% 9.46% |
Disclosure of scenario probability weightings applied in measuring ECL | 2023 2022 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Scenario probability 27% 56% 17% 28% 57% 15% |
Panama | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of macroeconomic variables used expected credit loss calculation | 2023 2022 Real Scenario Scenario A Scenario B Scenario C Inflation 1.90% 4.23% 3.62% 2.64% Nominal interest rate variation 0.64% 1.31% 0.46% 0.32% GDP Growth 9.00% 4.00% 4.58% 5.32% |
Disclosure of economic scenario for key indicators of credit risk | The economic scenarios used as of December 31, 2023, and 2022 (one-year projections) include the following expected scenarios of key indicators (among others) for Panamá. 2023 2022 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Inflation 2.80% 2.32% 1.83% 4.23% 3.62% 2.64% Nominal interest rate variation 0.57% 0.52% 0.48% 1.31% 0.46% 0.32% GDP Growth 7.03% 7.64% 8.25% 4.00% 4.58% 5.32% |
Disclosure of scenario probability weightings applied in measuring ECL | 2023 2022 Scenario A Scenario B Scenario C Scenario A Scenario B Scenario C Scenario probability 10% 50% 40% 5% 75% 20% |
Banco de Bogota S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 423,347 428,765 440,804 440,804 Exchange rate 105,390 138,671 175,945 160,165 Shares 3,891 12,573 37,830 37,830 Mutual funds 106 3,860 13,085 429 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 426,736 441,281 460,435 440,531 Exchange rate 87,497 133,241 179,646 171,517 Shares 3,759 4,182 4,650 3,870 Mutual funds 108,165 118,107 143,705 143,705 |
Banco de Occidente S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 179,858 205,998 251,416 217,031 Exchange rate 717 3,662 11,894 717 Mutual funds 569 15,259 85,455 607 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 173,355 196,810 243,326 173,355 Exchange rate 99 3,354 15,681 15,681 Mutual funds 75,869 80,639 83,479 83,479 |
Banco Popular S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 82,783 114,642 299,985 299,985 Exchange rate 5,050 6,783 7,759 7,221 Shares 148 687 6,586 6,586 Mutual funds 7,255 16,714 22,926 22,926 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 121,194 130,739 144,932 121,194 Exchange rate 4,290 5,618 6,711 5,796 Shares 140 143 148 147 Mutual funds 12,209 15,952 20,548 20,548 |
Banco Comercial AV Villas S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 46,209 65,592 86,967 46,209 Exchange rate 1 46 153 10 Mutual funds 221 6,930 14,175 785 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 82,312 99,727 120,545 84,749 Exchange rate 9 48 106 98 Mutual funds 158 2,090 11,864 11,864 |
Corficolombiana S.A | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 190,139 209,769 227,913 221,409 Exchange rate 4,381 16,757 24,799 4,381 Shares 7,086 7,501 8,007 7,221 Mutual funds 7,057 8,187 9,856 7,057 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 148,170 172,466 185,935 160,195 Exchange rate 3,828 15,882 40,422 23,090 Shares 6,017 9,308 13,350 6,557 Mutual funds 692 1,087 1,609 692 |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of VaR calculation relating to each of the risk factors | Maximum, Minimum and Average VaR Values December 31, 2023 Minimum Average Maximum Period end Interest rate Ps. 12,190 24,500 38,914 18,822 Exchange rate 115 978 2,900 597 Shares 1,710 2,347 3,091 1,973 Mutual funds 457 2,650 5,829 3,094 Maximum, Minimum and Average VaR Values December 31, 2022 Minimum Average Maximum Period end Interest rate Ps. 25,698 40,927 61,686 29,363 Exchange rate 93 577 1,682 976 Shares 1,404 2,579 3,379 2,541 Mutual funds 788 5,504 15,922 788 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | December 31, 2023 December 31, 2022 Investment grade Sovereign (*) Ps. 5,764,699 Ps. 2,721,755 Other public entities (**) 18,886 12,202 Corporate 3,412 112 Financial entities 349,273 178,584 Total investment grade Ps. 6,136,270 Ps. 2,912,653 Speculative grade Sovereign (*) Ps. 62,213 Ps. 157,246 Other public entities (**) 136,851 181,948 Corporate 42,581 33,880 Financial entities 735,187 473,223 Multilaterals — 1,873 Total Speculative grade Ps. 976,832 Ps. 848,170 Without grade or not available Corporate Ps. 278 Ps. 64 Total without grade or not available Ps. 278 Ps. 64 Ps. 7,113,380 Ps. 3,760,887 (*) (**) |
Disclosure of balance of financial assets in investments debt securities | December 31, December 31, 2023 2022 In Colombian Pesos Securities issued or secured by Colombian Government Ps. 5,732,620 Ps. 2,743,473 Securities issued or secured by other Colombian Government entities 155,737 194,150 Securities issued or secured by other financial entities 902,652 607,368 Securities issued or secured by non-financial sector entities 2,994 11,349 Others 20,585 24,515 Total In Colombian Pesos Ps. 6,814,588 Ps. 3,580,855 In foreign currency Securities issued or secured by Colombian Government Ps. 62,212 Ps. 77,928 Securities issued or secured by foreign Governments 32,079 57,600 Securities issued or secured by other financial entities 181,809 44,439 Securities issued or secured by non-financial sector entities 3,412 — Others 19,280 65 Total In foreign currency Ps. 298,792 Ps. 180,032 Total trading debt securities Ps. 7,113,380 Ps. 3,760,887 |
Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | December 31, 2023 December 31, 2022 Speculative grade Corporate Ps. 1,889 Ps. 1,378 Total Speculative grade Ps. 1,889 Ps. 1,378 |
Disclosure of balance of financial assets in investments debt securities | December 31, December 31, 2023 2022 In Colombian Pesos Others Ps. 1,889 Ps. 1,378 Total debt securities mandatorily at FVTPL Ps. 1,889 Ps. 1,378 |
Financial assets at amortised cost, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of balance of financial assets in investments debt securities | December 31, December 31, In Colombian Pesos 2023 2022 Securities issued or secured by Colombian Government Ps. 2,567,463 Ps. 2,299,618 Securities issued or secured by other Colombian Government entities 5,112,355 4,509,839 Others 36,635 38,756 Total In Colombian Pesos Ps. 7,716,453 Ps. 6,848,213 In foreign currency Securities issued or secured by foreign Governments Ps. 26,515 Ps. 33,453 Securities issued or secured by other financial entities 2,082,993 2,618,656 Securities issued or secured by non-financial sector entities 143,410 237,537 Others 27,190 33,633 Total in foreign currency Ps. 2,280,108 Ps. 2,923,279 Total investments in debt securities at amortized cost Ps. 9,996,561 Ps. 9,771,492 |
Financial assets measured at fair value through other comprehensive income, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 16,879,453 Ps. — Ps. — Ps. 16,879,453 Other public entities (**) 123,996 — — 123,996 Central banks 145,489 — — 145,489 Corporate 93,637 — — 93,637 Financial entities 1,085,737 — — 1,085,737 Multilaterals 330,748 — — 330,748 Total investment grade Ps. 18,659,060 Ps. — Ps. — Ps. 18,659,060 Speculative grade Sovereign (*) Ps. 2,418,378 Ps. — Ps. — Ps. 2,418,378 Other public entities (**) 739,792 — — 739,792 Corporate 273,144 — — 273,144 Financial entities 1,056,910 — — 1,056,910 Multilaterals 3,549 — — 3,549 Total speculative grade Ps. 4,491,773 Ps. — Ps. — Ps. 4,491,773 Without Grade or Not available Corporate Ps. 175,943 Ps. — Ps. — Ps. 175,943 Total Without Grade or Not available Ps. 175,943 Ps. — Ps. — Ps. 175,943 Ps. 23,326,776 Ps. — Ps. — Ps. 23,326,776 (*) (**) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 16,247,220 Ps. — Ps. — Ps. 16,247,220 Other public entities (**) 109,246 — — 109,246 Central banks 194,098 — — 194,098 Corporate 124,587 — — 124,587 Financial entities 840,545 — — 840,545 Multilaterals 477,890 — — 477,890 Total investment grade Ps. 17,993,586 Ps. — Ps. — Ps. 17,993,586 Speculative grade Sovereign (*) Ps. 2,702,107 Ps. — Ps. — Ps. 2,702,107 Other public entities (**) 680,002 — — 680,002 Corporate 245,734 — — 245,734 Financial entities 782,359 — — 782,359 Multilaterals 25,062 — — 25,062 Total speculative grade Ps. 4,435,264 Ps. — Ps. — Ps. 4,435,264 Without Grade or Not available Financial entities 32,955 — — 32,955 Total Without Grade or Not available Ps. 32,955 Ps. — Ps. — Ps. 32,955 Ps. 22,461,805 Ps. — Ps. — Ps. 22,461,805 (*) (**) |
Loan commitments and financial guarantee contracts [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 57,226 Ps. 8,679 Ps. 1,488 Ps. 67,393 Transfers: Transfer from stage 1 to stage 2 (1,260) 1,260 — — Transfer from stage 1 to stage 3 (132) — 132 — Transfer from stage 2 to stage 3 — (169) 169 — Transfer from stage 3 to stage 2 — 36 (36) — Transfer from stage 2 to stage 1 4,585 (4,585) — — Transfer from stage 3 to stage 1 84 — (84) — Net remeasurement of loss allowance (26,378) 830 (4,755) (30,303) New loan commitments and financial guarantees issued 12,057 4,025 4,924 21,006 FX and other movements (264) — 1 (263) Discontinued operations (1) (290) (8) 4,138 3,840 Reclassification BAC (1) (2) 288 29 51 368 Loss allowance as of December 31, 2021 Ps. 45,916 Ps. 10,097 Ps. 6,028 Ps. 62,041 Transfers: Transfer from stage 1 to stage 2 (558) 558 — — Transfer from stage 1 to stage 3 (57) — 57 — Transfer from stage 2 to stage 3 — (211) 211 — Transfer from stage 3 to stage 2 — 34 (34) — Transfer from stage 2 to stage 1 3,379 (3,379) — — Transfer from stage 3 to stage 1 289 — (289) — Net remeasurement of loss allowance (7,419) (2,264) (1,218) (10,901) New loan commitments and financial guarantees issued 17,204 1,826 (41) 18,989 FX and other movements 202 1 — 203 Discontinued operations (1) (45) (63) (133) (241) Loss of control in subsidiary (1) (751) (138) (4,292) (5,181) Loss allowance as of December 31, 2022 Ps. 58,160 Ps. 6,461 Ps. 289 Ps. 64,910 Transfers: Transfer from stage 1 to stage 2 (1,690) 1,690 — — Transfer from stage 1 to stage 3 (218) — 218 — Transfer from stage 2 to stage 3 — (329) 329 — Transfer from stage 3 to stage 2 — 4 (4) — Transfer from stage 2 to stage 1 1,105 (1,105) — — Transfer from stage 3 to stage 1 29 — (29) — Net remeasurement of loss allowance (14,124) (769) 211 (14,682) New loan commitments and financial guarantees issued 18,693 1,732 (65) 20,360 FX and other movements (318) (2) — (320) Loss allowance as of December 31, 2023 Ps. 61,637 Ps. 7,682 Ps. 949 Ps. 70,268 (1) (2) |
Loan portfolio [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 1,760,076 Ps. 3,039,056 Ps. 6,106,039 Ps. 10,905,171 Transfers: Transfer from stage 1 to stage 2 (202,725) 202,725 — — Transfer from stage 1 to stage 3 (61,953) — 61,953 — Transfer from stage 2 to stage 3 — (811,072) 811,072 — Transfer from stage 3 to stage 2 — 151,978 (151,978) — Transfer from stage 2 to stage 1 207,626 (207,626) — — Transfer from stage 3 to stage 1 45,635 — (45,635) — Net remeasurement of loss allowance (6) (529,125) 560,032 2,616,359 2,647,266 New financial assets originated or purchased 926,752 274,290 510,673 1,711,715 Financial assets that have been derecognized (441,892) (335,489) (409,840) (1,187,221) Unwind of discount (3) — 1 440,451 440,452 FX and other movements 5,140 14,524 9,488 29,152 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Discontinued operations (1) (274,758) 583,619 990,241 1,299,102 Reclassification BAC (1) (2) 461,534 (570,239) (915,249) (1,023,954) Write-offs (71,864) (198,682) (3,275,525) (3,546,071) Loss allowance as of December 31, 2021 Ps. 1,824,446 Ps. 2,703,117 Ps. 6,748,049 Ps. 11,275,612 Transfers: Transfer from stage 1 to stage 2 (183,333) 183,333 — — Transfer from stage 1 to stage 3 (105,447) — 105,447 — Transfer from stage 2 to stage 3 — (625,769) 625,769 — Transfer from stage 3 to stage 2 — 165,584 (165,584) — Transfer from stage 2 to stage 1 377,758 (377,758) — — Transfer from stage 3 to stage 1 98,057 — (98,057) — Net remeasurement of loss allowance (5) (184,532) 695,126 2,404,266 2,914,860 New financial assets originated or purchased 902,226 316,329 595,011 1,813,566 Financial assets that have been derecognized (462,600) (269,020) (895,971) (1,627,591) Unwind of discount (3) — 28 550,935 550,963 FX and other movements 3,449 28,302 26,477 58,228 Discontinued operations (1) (3,843) 14,798 253,502 264,457 Loss of control in subsidiary (1) (640,049) (1,003,291) (1,197,326) (2,840,666) Write-offs (131,245) (404,857) (2,675,813) (3,211,915) Loss allowance as of December 31, 2022 Ps. 1,494,887 Ps. 1,425,922 Ps. 6,276,705 Ps. 9,197,514 Transfers: Transfer from stage 1 to stage 2 (332,307) 332,307 — — Transfer from stage 1 to stage 3 (450,063) — 450,063 — Transfer from stage 2 to stage 3 — (1,180,705) 1,180,705 — Transfer from stage 3 to stage 2 — 309,622 (309,622) — Transfer from stage 2 to stage 1 479,360 (479,360) — — Transfer from stage 3 to stage 1 113,974 — (113,974) — Net remeasurement of loss allowance (4) 327,913 1,284,696 2,815,219 4,427,828 New financial assets originated or purchased 809,886 307,919 693,438 1,811,243 Financial assets that have been derecognized (501,840) (157,015) (854,806) (1,513,661) Sales of portfolio (7) (2,369) (1,809) (357,202) (361,380) Unwind of discount (3) 12 62 724,674 724,748 FX and other movements (13,826) (16,568) (43,684) (74,078) Write-offs (114,019) (540,280) (3,522,200) (4,176,499) Loss allowance as of December 31, 2023 Ps. 1,811,608 Ps. 1,284,791 Ps. 6,939,316 Ps. 10,035,715 (1) (2) (3) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (4) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of 2022 and the loan portfolio as of 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 66,298 Ps. 35,139 Ps. (6,894) Ps. 94,543 (5) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (171,007) Ps. 42 Ps. 73,226 Ps. (97,739) (6) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (73,359) Ps. 588,507 Ps. 139,586 Ps. 654,734 (7) Sale of loan portfolio corresponds mainly to sale of impaired portfolio. |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 167,489,648 Ps. 26,588,199 Ps. 12,369,318 Ps. 206,447,165 Transfers: Transfer from stage 1 to stage 2 (10,995,706) 10,995,706 — — Transfer from stage 1 to stage 3 (1,463,566) — 1,463,566 — Transfer from stage 2 to stage 3 — (3,879,203) 3,879,203 — Transfer from stage 2 to stage 1 5,474,571 (5,474,571) — — Transfer from stage 3 to stage 2 — 809,475 (809,475) — Transfer from stage 3 to stage 1 333,523 — (333,523) — New financial assets originated or purchased 112,304,857 3,354,034 1,387,110 117,046,001 Financial assets that have been paid (97,996,142) (5,649,252) (3,708,436) (107,353,830) Net remeasurement of amortized cost and other receivables (2,094,986) 723 2,228,841 134,578 Write-offs (71,864) (198,682) (3,275,525) (3,546,071) Discontinued operations (1) 5,034,757 866,278 308,754 6,209,789 Reclassification BAC (1) (2) 9,531,734 (1,103,917) 130,807 8,558,624 FX and other movements 3,272,295 589,783 215,103 4,077,181 Total portfolio as of December 31, 2021 Ps. 190,819,121 Ps. 26,898,573 Ps. 13,855,743 Ps. 231,573,437 Transfers: Transfer from stage 1 to stage 2 (8,276,152) 8,276,152 — — Transfer from stage 1 to stage 3 (1,659,371) — 1,659,371 — Transfer from stage 2 to stage 3 — (2,939,477) 2,939,477 — Transfer from stage 2 to stage 1 8,288,205 (8,288,205) — — Transfer from stage 3 to stage 2 — 646,995 (646,995) — Transfer from stage 3 to stage 1 367,294 — (367,294) — New financial assets originated or purchased 138,932,725 2,450,770 1,294,360 142,677,855 Financial assets that have been paid (104,212,015) (6,284,621) (4,053,745) (114,550,381) Net remeasurement of amortized cost and other receivables (1,008,007) 213,598 2,341,971 1,547,562 Write-offs (131,245) (404,857) (2,675,813) (3,211,915) Discontinued operations (1) 4,985,907 (1,228,725) (2,082,045) 1,675,137 Loss of control in subsidiary (1) (68,298,203) (8,288,834) (847,564) (77,434,601) FX and other movements 5,097,764 723,539 214,964 6,036,267 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of December 31, 2022 Ps. 164,906,023 Ps. 11,774,908 Ps. 11,632,430 Ps. 188,313,361 Transfers: Transfer from stage 1 to stage 2 (10,951,993) 10,951,993 — — Transfer from stage 1 to stage 3 (2,059,976) — 2,059,976 — Transfer from stage 2 to stage 3 — (3,372,104) 3,372,104 — Transfer from stage 2 to stage 1 9,137,025 (9,137,025) — — Transfer from stage 3 to stage 2 — 865,781 (865,781) — Transfer from stage 3 to stage 1 509,414 11,192 (520,606) — New financial assets originated or purchased 111,919,244 2,583,927 8,250,075 122,753,246 Financial assets that have been paid (103,065,373) (3,798,676) (7,734,476) (114,598,525) Net remeasurement of amortized cost and other receivables 841,002 164,973 784,473 1,790,448 Write-offs (114,019) (540,280) (3,522,200) (4,176,499) Sale of loan portfolio-loss allowance (3) (2,369) (1,809) (357,202) (361,380) Sale of loan portfolio-cash (3) — (694) (112,766) (113,460) Gain or loss on sale portfolio (3) — (59) 3,390 3,331 FX and other movements (6,594,417) (388,080) (424,255) (7,406,752) Total portfolio as of December 31, 2023 Ps. 164,524,561 Ps. 9,114,047 Ps. 12,565,162 Ps. 186,203,770 (1) (2) (3) |
Commercial lending portfolio [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 656,830 Ps. 805,097 Ps. 3,818,479 Ps. 5,280,406 Transfers: Transfer from stage 1 to stage 2 (46,649) 46,649 — — Transfer from stage 1 to stage 3 (8,714) — 8,714 — Transfer from stage 2 to stage 3 — (210,321) 210,321 — Transfer from stage 3 to stage 2 — 48,748 (48,748) — Transfer from stage 2 to stage 1 64,201 (64,201) — — Transfer from stage 3 to stage 1 20,081 — (20,081) — Net remeasurement of loss allowance (6) (274,271) 275,616 1,050,553 1,051,898 New financial assets originated or purchased 403,839 137,181 280,899 821,919 Financial assets that have been derecognized (196,873) (105,018) (347,386) (649,277) Unwind of discount (3) — — 291,393 291,393 FX and other movements 5,283 3,020 6,543 14,846 Discontinued operations (1) (22,433) 99,910 166,165 243,642 Reclassification BAC (1) (2) 58,788 (24,946) (148,509) (114,667) Write-offs (4,427) (4,913) (1,076,075) (1,085,415) Loss allowance as of December 31, 2021 Ps. 655,655 Ps. 1,006,822 Ps. 4,192,268 Ps. 5,854,745 Transfers: Transfer from stage 1 to stage 2 (33,511) 33,511 — — Transfer from stage 1 to stage 3 (33,401) — 33,401 — Transfer from stage 2 to stage 3 — (88,123) 88,123 — Transfer from stage 3 to stage 2 — 61,402 (61,402) — Transfer from stage 2 to stage 1 93,285 (93,285) — — Transfer from stage 3 to stage 1 26,793 — (26,793) — Net remeasurement of loss allowance (5) (124,267) (192,441) 1,129,665 812,957 New financial assets originated or purchased 392,719 137,383 317,361 847,463 Financial assets that have been derecognized (213,019) (109,718) (714,900) (1,037,637) Unwind of discount (3) — 14 405,090 405,104 FX and other movements 10,954 9,586 21,774 42,314 Discontinued operations (1) 12,101 (2,612) 3,496 12,985 Loss of control in subsidiary (1) (185,786) (244,715) (268,521) (699,022) Write-offs (2,985) (2,622) (740,556) (746,163) Loss allowance as of December 31, 2022 Ps. 598,538 Ps. 515,202 Ps. 4,379,006 Ps. 5,492,746 Transfers: Transfer from stage 1 to stage 2 (44,743) 44,743 — — Transfer from stage 1 to stage 3 (18,381) — 18,381 — Transfer from stage 2 to stage 3 — (130,514) 130,514 — Transfer from stage 3 to stage 2 — 40,868 (40,868) — Transfer from stage 2 to stage 1 150,216 (150,216) — — Transfer from stage 3 to stage 1 31,836 — (31,836) — Net remeasurement of loss allowance (4) (148,865) (99,159) 678,828 430,804 New financial assets originated or purchased 320,101 61,148 155,464 536,713 Financial assets that have been derecognized (262,000) (51,476) (450,980) (764,456) Sales of portfolio — — (194,305) (194,305) Unwind of discount (3) — 16 517,513 517,529 FX and other movements (10,958) (9,657) (35,823) (56,438) Write-offs (3,303) (2,131) (662,559) (667,993) Loss allowance as of December 31, 2023 Ps. 612,441 Ps. 218,824 Ps. 4,463,335 Ps. 5,294,600 (1) (2) (3) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (4) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of 2022 and the loan portfolio as of 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 3,952 Ps. (20,629) Ps. 2,916 Ps. (13,761) (5) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (51,598) Ps. 54,452 Ps. 83,149 Ps. 86,003 (6) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 26,567 Ps. 539,703 Ps. 85,264 Ps. 651,534 |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 92,626,136 Ps. 9,843,700 Ps. 8,517,102 Ps. 110,986,938 Transfers: Transfer from stage 1 to stage 2 (6,217,821) 6,217,821 — — Transfer from stage 1 to stage 3 (1,074,291) — 1,074,291 — Transfer from stage 2 to stage 3 — (1,757,273) 1,757,273 — Transfer from stage 2 to stage 1 2,585,939 (2,585,939) — — Transfer from stage 3 to stage 2 — 499,834 (499,834) — Transfer from stage 3 to stage 1 189,944 — (189,944) — New financial assets originated or purchased 64,413,391 1,819,955 779,974 67,013,320 Financial assets that have been paid (60,721,302) (2,836,505) (2,475,498) (66,033,305) Net remeasurement of amortized cost and other receivables (841,693) (42,188) 1,210,120 326,239 Write-offs (4,427) (4,913) (1,076,075) (1,085,415) Discontinued operations (1) 1,592,033 161,627 137,064 1,890,724 Reclassification BAC (1) (2) 5,333,890 236,162 (9,177) 5,560,875 FX and other movements 2,976,581 195,694 196,153 3,368,428 Total portfolio as of December 31, 2021 Ps. 100,858,380 Ps. 11,747,975 Ps. 9,421,449 Ps. 122,027,804 Transfers: Transfer from stage 1 to stage 2 (3,412,530) 3,412,530 — — Transfer from stage 1 to stage 3 (1,183,677) — 1,183,677 — Transfer from stage 2 to stage 3 — (1,259,406) 1,259,406 — Transfer from stage 2 to stage 1 3,502,330 (3,502,330) — — Transfer from stage 3 to stage 2 — 311,858 (311,858) — Transfer from stage 3 to stage 1 152,800 — (152,800) — New financial assets originated or purchased 76,419,265 1,177,731 723,459 78,320,455 Financial assets that have been paid (60,407,178) (3,742,642) (3,106,059) (67,255,879) Net remeasurement of amortized cost and other receivables (180,790) 102,831 1,566,802 1,488,843 Write-offs (2,985) (2,622) (740,556) (746,163) Discontinued operations (1) 3,560,936 71,257 (953,514) 2,678,679 Loss of control in subsidiary (1) (33,537,080) (2,931,541) 35,349 (36,433,272) FX and other movements 4,188,763 286,453 219,416 4,694,632 Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of December 31, 2022 Ps. 89,958,234 Ps. 5,672,094 Ps. 9,144,771 Ps. 104,775,099 Transfers: Transfer from stage 1 to stage 2 (3,831,869) 3,831,869 — — Transfer from stage 1 to stage 3 (979,725) — 979,725 — Transfer from stage 2 to stage 3 — (986,422) 986,422 — Transfer from stage 2 to stage 1 4,428,540 (4,428,540) — — Transfer from stage 3 to stage 2 — 327,479 (327,479) — Transfer from stage 3 to stage 1 216,849 — (216,849) — New financial assets originated or purchased 75,428,991 924,475 1,156,101 77,509,567 Financial assets that have been paid (66,409,339) (1,587,486) (3,472,586) (71,469,411) Net remeasurement of amortized cost and other receivables 781,835 18,893 2,285,705 3,086,433 Write-offs (3,303) (2,131) (662,559) (667,993) Sale of loan portfolio-loss allowance — — (194,305) (194,305) Sale of loan portfolio-cash — — (78,613) (78,613) Gain or loss on sale portfolio — — (7,415) (7,415) FX and other movements (5,261,913) (239,697) (403,935) (5,905,545) Total portfolio as of December 31, 2023 Ps. 94,328,300 Ps. 3,530,534 Ps. 9,188,983 Ps. 107,047,817 (1) (2) |
Interbank and overnight funds [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 792 Ps. — Ps. 59 Ps. 851 Net remeasurement of loss allowance (3) (2,142) (2,142) New financial assets originated or purchased 5,670 5,670 Financial assets that have been derecognized (1,934) (59) (1,993) Write-offs — — — — Loss allowance as of December 31, 2021 Ps. 2,386 Ps. — Ps. — Ps. 2,386 Net remeasurement of loss allowance (2) 3 — — 3 New financial assets originated or purchased 17,244 — — 17,244 Financial assets that have been derecognized (18,189) — — (18,189) Loss allowance as of December 31, 2022 Ps. 1,444 Ps. — Ps. — Ps. 1,444 Transfers: Transfer from stage 2 to stage 1 2 (2) — — Net remeasurement of loss allowance (1) (122) 2 — (120) New financial assets originated or purchased 1,787 — — 1,787 Financial assets that have been derecognized (3,089) — — (3,089) Loss allowance as of December 31, 2023 Ps. 22 Ps. — Ps. — Ps. 22 (1) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of December 31,2022 and the loan portfolio as of December 31, 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (4) Ps. — Ps. — Ps. (4) (2) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (611) Ps. — Ps. — Ps. (611) (3) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 77 Ps. — Ps. — Ps. 77 |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 4,693,539 Ps. — Ps. 139 Ps. 4,693,678 New financial assets originated or purchased 1,531,771 — — 1,531,771 Financial assets that have been paid (2,671,104) — — (2,671,104) Net remeasurement of amortized cost and other receivables 16,676 — (139) 16,537 Discontinued operations (1) 1,529 — — 1,529 Reclassification BAC (1) (2) (607,582) — — (607,582) FX and other movements 253,604 — — 253,604 Total portfolio as of December 31, 2021 Ps. 3,218,433 Ps. — Ps. — Ps. 3,218,433 New financial assets originated or purchased 23,119,916 — 1 23,119,917 Financial assets that have been paid (18,982,865) — — (18,982,865) Net remeasurement of amortized cost and other receivables 84,916 — — 84,916 Discontinued operations (1) 249 — — 249 Loss of control in subsidiary (1) (1,442,427) — — (1,442,427) FX and other movements (30,480) — — (30,480) Total portfolio as of December 31, 2022 Ps. 5,967,742 Ps. — Ps. 1 Ps. 5,967,743 New financial assets originated or purchased 206,661 — — 206,661 Financial assets that have been paid (6,003,176) — — (6,003,176) Net remeasurement of amortized cost and other receivables (1,390) — (1) (1,391) FX and other movements 222,770 — — 222,770 Total portfolio as of December 31, 2023 Ps. 392,607 Ps. — Ps. — Ps. 392,607 (1) (2) |
Loans to consumers [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 1,013,071 Ps. 1,948,030 Ps. 1,977,870 Ps. 4,938,971 Transfers: Transfer from stage 1 to stage 2 (144,734) 144,734 — — Transfer from stage 1 to stage 3 (51,891) — 51,891 — Transfer from stage 2 to stage 3 — (545,940) 545,940 — Transfer from stage 3 to stage 2 — 89,458 (89,458) — Transfer from stage 2 to stage 1 126,680 (126,680) — — Transfer from stage 3 to stage 1 18,283 — (18,283) — Net remeasurement of loss allowance (6) (233,642) 222,504 1,482,010 1,470,872 New financial assets originated or purchased 493,695 131,386 222,117 847,198 Financial assets that have been derecognized (223,040) (211,872) (54,758) (489,670) Unwind of discount (3) — — 121,699 121,699 FX and other movements (27) 6,989 2,564 9,526 Reclassification BAC (1) (2) (212,651) 450,272 747,424 985,045 Entity desconsolidation 345,830 (528,905) (735,990) (919,065) Write-offs (65,031) (183,875) (2,134,666) (2,383,572) Loss allowance as of December 31, 2021 Ps. 1,066,543 Ps. 1,396,101 Ps. 2,118,360 Ps. 4,581,004 Transfers: Transfer from stage 1 to stage 2 (142,762) 142,762 — — Transfer from stage 1 to stage 3 (70,964) — 70,964 — Transfer from stage 2 to stage 3 — (498,736) 498,736 — Transfer from stage 3 to stage 2 — 92,189 (92,189) — Transfer from stage 2 to stage 1 211,028 (211,028) — — Transfer from stage 3 to stage 1 55,658 — (55,658) — Net remeasurement of loss allowance (5) (1,000) 863,809 1,245,918 2,108,727 New financial assets originated or purchased 473,946 174,616 267,651 916,213 Financial assets that have been derecognized (201,480) (149,438) (175,323) (526,241) Unwind of discount (3) — 13 119,709 119,722 FX and other movements (2,575) 9,007 3,555 9,987 Discontinued operations (1) (9,751) 15,493 240,008 245,750 Loss of control in subsidiary (1) (412,745) (585,225) (802,042) (1,800,012) Write-offs (125,994) (396,404) (1,820,840) (2,343,238) Loss allowance as of December 31, 2022 Ps. 839,904 Ps. 853,159 Ps. 1,618,849 Ps. 3,311,912 Transfers: Transfer from stage 1 to stage 2 (276,858) 276,858 — — Transfer from stage 1 to stage 3 (429,739) — 429,739 — Transfer from stage 2 to stage 3 — (1,004,192) 1,004,192 — Transfer from stage 3 to stage 2 — 257,854 (257,854) — Transfer from stage 2 to stage 1 300,775 (300,775) — — Transfer from stage 3 to stage 1 71,599 — (71,599) — Net remeasurement of loss allowance (4) 484,735 1,310,059 2,145,306 3,940,100 New financial assets originated or purchased 473,697 238,963 481,362 1,194,022 Financial assets that have been derecognized (214,602) (98,788) (394,718) (708,108) Sales of portfolio (2,369) (1,809) (162,897) (167,075) Unwind of discount (3) — 46 183,157 183,203 FX and other movements (3,200) (4,786) (5,378) (13,364) Write-offs (101,945) (533,321) (2,797,978) (3,433,244) Loss allowance as of December 31, 2023 Ps. 1,141,997 Ps. 993,268 Ps. 2,172,181 Ps. 4,307,446 (1) (2) (3) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (4) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of 2022 and the loan portfolio as of 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 57,239 Ps. 51,135 Ps. (13,718) Ps. 94,656 (5) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (54,668) Ps. (37,148) Ps. (569) Ps. (92,385) (6) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (97,455) Ps. 56,801 Ps. 15,669 Ps. (24,985) |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 51,453,521 Ps. 11,382,726 Ps. 2,999,210 Ps. 65,835,457 Transfers: Transfer from stage 1 to stage 2 (3,955,559) 3,955,559 — — Transfer from stage 1 to stage 3 (363,213) — 363,213 — Transfer from stage 2 to stage 3 — (1,869,405) 1,869,405 — Transfer from stage 2 to stage 1 2,193,145 (2,193,145) — — Transfer from stage 3 to stage 2 — 252,599 (252,599) — Transfer from stage 3 to stage 1 102,385 — (102,385) — New financial assets originated or purchased 41,759,298 1,448,809 595,885 43,803,992 Financial assets that have been paid (32,129,847) (2,570,086) (1,102,267) (35,802,200) Net remeasurement of amortized cost and other receivables (1,170,836) 15,274 921,205 (234,357) Write-offs (65,031) (183,875) (2,134,666) (2,383,572) Discontinued operations (1) 2,732,637 506,255 133,900 3,372,792 Reclassification BAC (1) (2) 3,256,691 (1,111,052) (48,484) 2,097,155 FX and other movements (1,451) 195,067 6,262 199,878 Total portfolio as of December 31, 2021 Ps. 63,811,740 Ps. 9,828,726 Ps. 3,248,679 Ps. 76,889,145 Transfers: Transfer from stage 1 to stage 2 (3,939,985) 3,939,985 — — Transfer from stage 1 to stage 3 (456,120) — 456,120 — Transfer from stage 2 to stage 3 — (1,433,947) 1,433,947 — Transfer from stage 2 to stage 1 2,810,585 (2,810,585) — — Transfer from stage 3 to stage 2 — 258,837 (258,837) — Transfer from stage 3 to stage 1 146,229 — (146,229) — New financial assets originated or purchased 34,459,205 1,219,507 564,562 36,243,274 Financial assets that have been paid (22,753,127) (2,332,167) (826,367) (25,911,661) Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Net remeasurement of amortized cost and other receivables (788,200) 69,133 681,170 (37,897) Write-offs (125,994) (396,404) (1,820,840) (2,343,238) Discontinued operations (1) 1,156,225 (80,679) (477,697) 597,849 Loss of control in subsidiary (1) (22,340,862) (3,498,287) (882,530) (26,721,679) FX and other movements 549,432 164,844 (10,625) 703,651 Total portfolio as of December 31, 2022 Ps. 52,529,128 Ps. 4,928,963 Ps. 1,961,353 Ps. 59,419,444 Transfers: Transfer from stage 1 to stage 2 (5,701,009) 5,701,009 — — Transfer from stage 1 to stage 3 (1,029,073) — 1,029,073 — Transfer from stage 2 to stage 3 — (2,089,300) 2,089,300 — Transfer from stage 2 to stage 1 3,616,500 (3,616,500) — — Transfer from stage 3 to stage 2 — 469,333 (469,333) — Transfer from stage 3 to stage 1 212,519 11,192 (223,711) — New financial assets originated or purchased 32,474,641 1,586,439 4,957,874 39,018,954 Financial assets that have been paid (28,331,264) (2,095,326) (2,091,623) (32,518,213) Net remeasurement of amortized cost and other receivables 20,995 126,837 (1,528,765) (1,380,933) Write-offs (101,945) (533,321) (2,797,978) (3,433,244) Sale of loan portfolio-loss allowance (2,369) (1,809) (162,897) (167,075) Sale of loan portfolio-cash — (694) (34,153) (34,847) Gain or loss on sale portfolio — (59) 10,805 10,746 FX and other movements (832,014) (77,989) (5,218) (915,221) Total portfolio as of December 31, 2023 Ps. 52,856,109 Ps. 4,408,775 Ps. 2,734,727 Ps. 59,999,611 (1) (2) |
Mortgage [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 72,294 Ps. 225,889 Ps. 262,721 Ps. 560,904 Transfers: Transfer from stage 1 to stage 2 (5,944) 5,944 — — Transfer from stage 1 to stage 3 (322) — 322 — Transfer from stage 2 to stage 3 — (26,501) 26,501 — Transfer from stage 3 to stage 2 — 10,387 (10,387) — Transfer from stage 2 to stage 1 14,441 (14,441) — — Transfer from stage 3 to stage 1 6,819 — (6,819) — Net remeasurement of loss allowance (6) (7,201) 80,638 37,248 110,685 New financial assets originated or purchased 13,900 5,093 7,636 26,629 Financial assets that have been derecognized (15,995) (14,577) (6,981) (37,553) Unwind of discount (3) — 1 13,944 13,945 FX and other movements (116) 4,515 381 4,780 Discontinued operations (1) (39,674) 33,437 76,652 70,415 Reclassification BAC (1) (2) 56,916 (16,388) (30,750) 9,778 Write-offs (1,996) (7,094) (18,086) (27,176) Loss allowance as of December 31, 2021 Ps. 93,122 Ps. 286,903 Ps. 352,382 Ps. 732,407 Transfers: Transfer from stage 1 to stage 2 (4,775) 4,775 — — Transfer from stage 1 to stage 3 (266) — 266 — Transfer from stage 2 to stage 3 — (28,228) 28,228 — Transfer from stage 3 to stage 2 — 10,553 (10,553) — Transfer from stage 2 to stage 1 70,544 (70,544) — — Transfer from stage 3 to stage 1 15,267 — (15,267) — Net remeasurement of loss allowance (5) (55,643) 19,536 25,930 (10,177) New financial assets originated or purchased 12,837 4,133 9,982 26,952 Financial assets that have been derecognized (27,664) (8,938) (5,375) (41,977) Unwind of discount (3) — 1 17,084 17,085 FX and other movements (4,930) 9,709 1,148 5,927 Discontinued operations (1) (6,193) 1,917 9,998 5,722 Loss of control in subsidiary (1) (41,518) (173,351) (126,763) (341,632) Write-offs (2,018) (3,827) (36,021) (41,866) Loss allowance as of December 31, 2022 Ps. 48,763 Ps. 52,639 Ps. 251,039 Ps. 352,441 Transfers: Transfer from stage 1 to stage 2 (7,295) 7,295 — — Transfer from stage 1 to stage 3 (635) — 635 — Transfer from stage 2 to stage 3 — (35,387) 35,387 — Transfer from stage 3 to stage 2 — 9,526 (9,526) — Transfer from stage 2 to stage 1 26,638 (26,638) — — Transfer from stage 3 to stage 1 10,329 — (10,329) — Net remeasurement of loss allowance (4) (14,157) 63,399 (21,731) 27,511 New financial assets originated or purchased 9,654 7,711 56,558 73,923 Financial assets that have been derecognized (20,196) (6,486) (8,896) (35,578) Unwind of discount (3) 12 — 16,988 17,000 FX and other movements 332 (2,125) (2,483) (4,276) Write-offs (8,365) (3,601) (39,068) (51,034) Loss allowance as of December 31, 2023 Ps. 45,080 Ps. 66,333 Ps. 268,574 Ps. 379,987 (1) (2) (3) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (4) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of 2022 and the loan portfolio as of 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 5,207 Ps. 4,604 Ps. 3,914 Ps. 13,725 (5) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (63,752) Ps. (17,595) Ps. (9,268) Ps. (90,615) (6) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 7,918 Ps. (1,149) Ps. 38,678 Ps. 45,447 |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 18,537,882 Ps. 5,217,872 Ps. 803,017 Ps. 24,558,771 Transfers: Transfer from stage 1 to stage 2 (773,274) 773,274 — — Transfer from stage 1 to stage 3 (18,990) — 18,990 — Transfer from stage 2 to stage 3 — (164,767) 164,767 — Transfer from stage 2 to stage 1 657,398 (657,398) — — Transfer from stage 3 to stage 2 — 47,618 (47,618) — Transfer from stage 3 to stage 1 39,085 — (39,085) — New financial assets originated or purchased 4,417,205 85,222 6,750 4,509,177 Financial assets that have been paid (2,315,419) (207,019) (105,803) (2,628,241) Net remeasurement of amortized cost and other receivables (99,596) 22,411 76,779 (406) Write-offs (1,996) (7,094) (18,086) (27,176) Discontinued operations (1) 708,558 198,396 37,790 944,744 Reclassification BAC (1) (2) 1,548,735 (229,027) 188,468 1,508,176 FX and other movements 43,561 199,022 12,688 255,271 Total portfolio as of December 31, 2021 Ps. 22,743,149 Ps. 5,278,510 Ps. 1,098,657 Ps. 29,120,316 Transfers: Transfer from stage 1 to stage 2 (896,435) 896,435 — — Transfer from stage 1 to stage 3 (13,682) — 13,682 — Transfer from stage 2 to stage 3 — (219,362) 219,362 — Transfer from stage 2 to stage 1 1,954,180 (1,954,180) — — Transfer from stage 3 to stage 2 — 72,617 (72,617) — Transfer from stage 3 to stage 1 67,285 — (67,285) — New financial assets originated or purchased 4,715,113 53,475 6,304 4,774,892 Financial assets that have been paid (1,891,256) (197,058) (103,664) (2,191,978) Net remeasurement of amortized cost and other receivables (130,620) 39,252 83,758 (7,610) Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Write-offs (2,018) (3,827) (36,021) (41,866) Discontinued operations (1) 268,497 (1,219,303) (650,834) (1,601,640) Loss of control in subsidiary (1) (10,977,834) (1,859,006) (383) (12,837,223) FX and other movements 390,049 272,242 6,173 668,464 Total portfolio as of December 31, 2022 Ps. 16,226,428 Ps. 1,159,795 Ps. 497,132 Ps. 17,883,355 Transfers: Transfer from stage 1 to stage 2 (1,382,946) 1,382,946 — — Transfer from stage 1 to stage 3 (40,569) — 40,569 — Transfer from stage 2 to stage 3 — (271,352) 271,352 — Transfer from stage 2 to stage 1 1,082,759 (1,082,759) — — Transfer from stage 3 to stage 2 — 66,023 (66,023) — Transfer from stage 3 to stage 1 79,530 — (79,530) — New financial assets originated or purchased 3,594,678 71,626 2,094,419 5,760,723 Financial assets that have been paid (2,142,766) (109,535) (2,147,384) (4,399,685) Net remeasurement of amortized cost and other receivables 35,508 18,036 48,059 101,603 Write-offs (8,365) (3,601) (39,068) (51,034) FX and other movements (723,260) (70,394) (15,102) (808,756) Total portfolio as of December 31, 2023 Ps. 16,720,997 Ps. 1,160,785 Ps. 604,424 Ps. 18,486,206 (1) (2) |
Microcredit [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 17,089 Ps. 60,040 Ps. 46,910 Ps. 124,039 Transfers: Transfer from stage 1 to stage 2 (5,398) 5,398 — — Transfer from stage 1 to stage 3 (1,026) — 1,026 — Transfer from stage 2 to stage 3 — (28,310) 28,310 — Transfer from stage 3 to stage 2 — 3,385 (3,385) — Transfer from stage 2 to stage 1 2,304 (2,304) — — Transfer from stage 3 to stage 1 452 — (452) — Net remeasurement of loss allowance (4) (11,869) (18,726) 46,548 15,953 New financial assets originated or purchased 9,648 630 21 10,299 Financial assets that have been derecognized (4,050) (4,022) (656) (8,728) Unwind of discount (1) — — 13,415 13,415 Write-offs (410) (2,800) (46,698) (49,908) Loss allowance as of December 31, 2021 Ps. 6,740 Ps. 13,291 Ps. 85,039 Ps. 105,070 Transfers: Transfer from stage 1 to stage 2 (2,285) 2,285 — — Transfer from stage 1 to stage 3 (816) — 816 — Transfer from stage 2 to stage 3 — (10,682) 10,682 — Transfer from stage 3 to stage 2 — 1,440 (1,440) — Transfer from stage 2 to stage 1 2,901 (2,901) — — Transfer from stage 3 to stage 1 339 — (339) — Net remeasurement of loss allowance (3) (3,625) 4,222 2,753 3,350 New financial assets originated or purchased 5,480 197 17 5,694 Financial assets that have been derecognized (2,248) (926) (373) (3,547) Unwind of discount (1) — — 9,052 9,052 Write-offs (248) (2,004) (78,396) (80,648) Loss allowance as of December 31, 2022 Ps. 6,238 Ps. 4,922 Ps. 27,811 Ps. 38,971 Transfers: Transfer from stage 1 to stage 2 (3,411) 3,411 — — Transfer from stage 1 to stage 3 (1,308) — 1,308 — Transfer from stage 2 to stage 3 — (10,612) 10,612 — Transfer from stage 3 to stage 2 — 1,374 (1,374) — Transfer from stage 2 to stage 1 1,729 (1,729) — — Transfer from stage 3 to stage 1 210 — (210) — Net remeasurement of loss allowance (2) 6,322 10,395 12,816 29,533 New financial assets originated or purchased 4,647 97 54 4,798 Financial assets that have been derecognized (1,953) (265) (212) (2,430) Unwind of discount (1) — — 7,016 7,016 Write-offs (406) (1,227) (22,595) (24,228) Loss allowance as of December 31, 2023 Ps. 12,068 Ps. 6,366 Ps. 35,226 Ps. 53,660 (1) The unwind of discount on Stage 3 financial assets is reported within "interest income" so that interest income is recognized on the amortized cost (after deducting the ECL allowance) (2) This amount includes impact of the measurement of ECL due to changes made in PDs/LGDs/EADs and changes made to model assumptions and methodologies from the opening to the closing balance. The following table shows the impact by stage estimated using all parameters as of December 31, 2023 versus parameters as of December 31,2022 and the loan portfolio as of December 31, 2023. December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (96) Ps. 29 Ps. (6) Ps. (73) (3) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (378) Ps. 333 Ps. (86) Ps. (131) (4) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (10,466) Ps. (6,848) Ps. (25) Ps. (17,339) |
Disclosure of reconciliations of gross carrying amount | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Total portfolio as of January 1, 2021 Ps. 178,570 Ps. 143,901 Ps. 49,850 Ps. 372,321 Transfers: Transfer from stage 1 to stage 2 (49,052) 49,052 — — Transfer from stage 1 to stage 3 (7,072) — 7,072 — Transfer from stage 2 to stage 3 — (87,758) 87,758 — Transfer from stage 2 to stage 1 38,089 (38,089) — — Transfer from stage 3 to stage 2 — 9,424 (9,424) — Transfer from stage 3 to stage 1 2,109 — (2,109) — New financial assets originated or purchased 183,192 48 4,501 187,741 Financial assets that have been paid (158,470) (35,642) (24,868) (218,980) Net remeasurement of amortized cost and other receivables 463 5,226 20,876 26,565 Write-offs (410) (2,800) (46,698) (49,908) Total portfolio as of December 31, 2021 Ps. 187,419 Ps. 43,362 Ps. 86,958 Ps. 317,739 Transfers: Transfer from stage 1 to stage 2 (27,202) 27,202 — — Transfer from stage 1 to stage 3 (5,892) — 5,892 — Transfer from stage 2 to stage 3 — (26,762) 26,762 — Transfer from stage 2 to stage 1 21,110 (21,110) — — Transfer from stage 3 to stage 2 — 3,683 (3,683) — Transfer from stage 3 to stage 1 980 — (980) — New financial assets originated or purchased 219,226 57 34 219,317 Financial assets that have been paid (177,589) (12,754) (17,655) (207,998) Net remeasurement of amortized cost and other receivables 6,687 2,382 10,241 19,310 Write-offs (248) (2,004) (78,396) (80,648) Total portfolio as of December 31, 2022 Ps. 224,491 Ps. 14,056 Ps. 29,173 Ps. 267,720 Transfers: Transfer from stage 1 to stage 2 (36,169) 36,169 — — Transfer from stage 1 to stage 3 (10,609) — 10,609 — Transfer from stage 2 to stage 3 — (25,030) 25,030 — Transfer from stage 2 to stage 1 9,226 (9,226) — — Transfer from stage 3 to stage 2 — 2,946 (2,946) — Transfer from stage 3 to stage 1 516 — (516) — New financial assets originated or purchased 214,273 1,387 41,681 257,341 Financial assets that have been paid (178,828) (6,329) (22,883) (208,040) Net remeasurement of amortized cost and other receivables 4,054 1,207 (20,525) (15,264) Write-offs (406) (1,227) (22,595) (24,228) Total portfolio as of December 31, 2023 Ps. 226,548 Ps. 13,953 Ps. 37,028 Ps. 277,529 |
Other accounts receivable, general approach | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 18,136 Ps. 13,548 Ps. 107,471 Ps. 139,155 Net remeasurement of loss allowance 2,378 2,865 41,515 46,758 FX and other movements (49) 358 1,223 1,532 Write-offs (1,526) — (20,760) (22,286) Loss allowance as of December 31, 2021 Ps. 18,939 Ps. 16,771 Ps. 129,449 Ps. 165,159 Net remeasurement of loss allowance 7,680 2,190 48,003 57,873 FX and other movements 1,748 1,240 177 3,165 Write-offs (3,390) — (37,506) (40,896) Loss allowance as of December 31, 2022 Ps. 24,977 Ps. 20,201 Ps. 140,123 Ps. 185,301 Net remeasurement of loss allowance 4,389 257 46,867 51,513 FX and other movements (1,789) (1,270) (2,464) (5,523) Write-offs (1,612) — (43,397) (45,009) Loss allowance as of December 31, 2023 Ps. 25,965 Ps. 19,188 Ps. 141,129 Ps. 186,282 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 13,990,298 Ps. — Ps. — Ps. 13,990,298 Corporate — — 1,535 1,535 Financial entities 579,701 — — 579,701 Total investment grade Ps. 14,569,999 Ps. — Ps. 1,535 Ps. 14,571,534 (*) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 12,653,956 Ps. — Ps. — Ps. 12,653,956 Financial entities 577,117 — — 577,117 Total investment grade Ps. 13,231,073 Ps. — Ps. — Ps. 13,231,073 (*) |
Other accounts receivable, simplified approach | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Loss allowance Loss allowance as of January 1, 2021 Ps. 203,902 Reclassification BAC (1)(2) (1,157) Discontinued operations (1) 8,659 Provision charged to profit or loss 30,039 Recovery of partial payments from the clients (5,157) Write-offs (25,951) Exchange gains (losses) in foreign currency 7,308 Transfer from general approach to simplified approach — Loss allowance as of December 31, 2021 Ps. 217,643 Loss of control in subsidiary (1) (33,024) Discontinued operations (1) 469 Entity liquidation (1,592) Provision charged to profit or loss 27,519 Recovery for partial payments from the clients (6,751) Write-offs (7,948) Exchange gains (losses) in foreign currency 799 Loss allowance as of December 31, 2022 Ps. 197,115 Entity deconsolidation (3,245) Provision charged to profit or loss 39,750 Recovery for partial payments from the clients (14,599) Write-offs (18,516) Exchange gains (losses) in foreign currency (1,123) Loss allowance as of December 31, 2023 Ps. 199,382 (1) (2) |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | e) Other accounts receivable at FVTPL December 31, 2023 December 31, 2022 Investment grade Sovereign (*) Ps. 3,830,916 Ps. 3,507,231 Total investment grade Ps. 3,830,916 Ps. 3,507,231 (*) |
Debt securities [member] | Financial assets at amortised cost, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | d) Investments in debt securities at amortized cost December 31, 2023 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 2,593,978 Ps. — Ps. — Ps. 2,593,978 Financial entities 2,016,078 — — 2,016,078 Total investment grade Ps. 4,610,056 Ps. — Ps. — Ps. 4,610,056 Speculative grade Other public entities (**) Ps. 5,112,355 Ps. — Ps. — Ps. 5,112,355 Corporate 63,824 — — 63,824 Financial Entities 5,761 — — 5,761 Total speculative grade Ps. 5,181,940 Ps. — Ps. — Ps. 5,181,940 Without Grade or Not available Corporate Ps. 83,066 Ps. 60,344 Ps. — Ps. 143,410 Financial Entities 61,155 — — 61,155 Total Without Grade or Not available Ps. 144,221 Ps. 60,344 Ps. — Ps. 204,565 Ps. 9,936,217 Ps. 60,344 Ps. — Ps. 9,996,561 (*) (**) December 31, 2022 Stage 1 Stage 2 Stage 3 Total Investment grade Sovereign (*) Ps. 2,333,070 Ps. — Ps. — Ps. 2,333,070 Financial entities 29,026 — — 29,026 Total investment grade Ps. 2,362,096 Ps. — Ps. — Ps. 2,362,096 Speculative grade Other public entities (**) Ps. 4,509,839 Ps. — Ps. — Ps. 4,509,839 Corporate 72,390 — — 72,390 Financial entities 2,520,330 — — 2,520,330 Total speculative grade Ps. 7,102,559 Ps. — Ps. — Ps. 7,102,559 Without Grade or Not available Corporate Ps. 157,338 Ps. 80,199 Ps. — Ps. 237,537 Financial Entities 43,851 25,449 — 69,300 Total Without Grade or Not available Ps. 201,189 Ps. 105,648 Ps. — Ps. 306,837 Ps. 9,665,844 Ps. 105,648 Ps. — Ps. 9,771,492 (*) (**) |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance balance as of January 1, 2021 Ps. 7,188 Ps. 7 Ps. — Ps. 7,195 Transfer from stage 1 to stage 2 (1,796) 1,796 — — Net remeasurement of loss allowance (4) (2,443) 4,069 — 1,626 New financial assets originated or purchased 2,179 1,443 — 3,622 Financial assets that have been derecognized (1,622) — — (1,622) Discontinued operations (1) (1,087) 5 — (1,082) Reclassification BAC (1) (2) (417) (5) — (422) FX and other movements 1,295 86 — 1,381 Loss allowance as of December 31, 2021 Ps. 3,297 Ps. 7,401 Ps. — Ps. 10,698 Net remeasurement of loss allowance (3) 19,761 547 — 20,308 New financial assets originated or purchased 2,198 — — 2,198 Financial assets that have been derecognized (1,015) (1,090) — (2,105) Discontinued operations (1) (85) — — (85) Loss of control in subsidiary (1) (503) — — (503) Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total FX and other movements 4,910 1,509 — 6,419 Loss allowance as of December 31, 2022 Ps. 28,563 Ps. 8,367 Ps. — Ps. 36,930 Transfer from stage 2 to stage 1 1,485 (1,485) — — Net remeasurement of loss allowance (3) (14,315) (996) — (15,311) New financial assets originated or purchased 2,669 — — 2,669 Financial assets that have been derecognized (1,466) — — (1,466) FX and other movements (4,323) (1,617) — (5,940) Loss allowance as of December 31, 2023 Ps. 12,613 Ps. 4,269 Ps. — Ps. 16,882 (1) (2) (3) December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. 9,632 Ps. — Ps. — Ps. 9,632 (4) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (70) Ps. 48 Ps. — Ps. (22) (5) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (225) Ps. — Ps. — Ps. (225) |
Debt securities [member] | Financial assets at fair value through other comprehensive income, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of reconciliations of loan allowance | Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total Loss allowance as of January 1, 2021 Ps. 96,307 Ps. 179 Ps. — Ps. 96,486 Net remeasurement of loss allowance (5) (1,829) — — (1,829) New financial assets originated or purchased 7,809 — — 7,809 Financial assets that have been derecognized (8,948) 2 — (8,946) Discontinued operations (1) 16,821 (180) — 16,641 Reclassification BAC (1) (2) 12,702 1 — 12,703 FX and other movements 1,116 (2) — 1,114 Loss allowance balance as of December 31, 2021 Ps. 123,978 Ps. — Ps. — Ps. 123,978 Net remeasurement of loss allowance (3) (3,217) — — (3,217) New financial assets originated or purchased 4,409 — — 4,409 Financial assets that have been derecognized (4,870) — — (4,870) Discontinued operations (1) 2,935 — — 2,935 Loss of control in subsidiary (1) (111,358) — — (111,358) FX and other movements 809 — — 809 Loss allowance balance as of December 31, 2022 Ps. 12,686 Ps. — Ps. — Ps. 12,686 Net remeasurement of loss allowance (3) (892) — — (892) New financial assets originated or purchased 6,470 — — 6,470 Financial assets that have been derecognized (4,342) — — (4,342) Stage 2 Lifetime Stage 3 Stage 1 ECL not Lifetime 12-month credit- ECL credit- ECL impaired impaired Total FX and other movements (950) — — (950) Loss allowance as of December 31, 2023 Ps. 12,972 Ps. — Ps. — Ps. 12,972 (1) (2) (3) December 31, 2023 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (359) Ps. — Ps. — Ps. (359) (4) December 31, 2022 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (1,056) Ps. — Ps. — Ps. (1,056) (5) December 31, 2021 Stage 2 Stage 3 Stage 1 Lifetime ECL not Lifetime ECL 12-month ECL credit-impaired credit-impaired Total Ps. (12,852) Ps. — Ps. — Ps. (12,852) |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of balance of financial assets in investments debt securities | December 31, December 31, 2023 2022 In Colombian Pesos Securities issued or secured by Colombian Government Ps. 14,491,881 Ps. 13,025,432 Securities issued or secured by other Colombian Government entities 325,588 278,335 Securities issued or secured by other financial entities 918,788 707,630 Securities issued or secured by non-financial sector entities 961 5,233 Others 212,635 310,160 Total In Colombian Pesos Ps. 15,949,853 Ps. 14,326,790 In foreign currency Securities issued or secured by Colombian Government Ps. 2,298,912 Ps. 2,527,440 Securities issued or secured by other Colombian Government entities 538,200 510,913 Securities issued or secured by foreign Governments 2,507,038 3,396,455 Securities issued or secured by central banks 145,489 194,098 Securities issued or secured by other financial entities 1,223,859 915,274 Securities issued or secured by non-financial sector entities 213,610 48,574 Others 449,815 542,261 Total In foreign currency Ps. 7,376,923 Ps. 8,135,015 Total debt securities at FVOCI Ps. 23,326,776 Ps. 22,461,805 |
Derivatives [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Disclosure of credit worthiness | Credit worthiness December 31, 2023 December 31, 2022 Investment grade Ps. 1,398,093 Ps. 1,257,143 Speculative 22,274 4,165 Without grade or not available 705,862 800,951 Total Ps. 2,126,229 Ps. 2,062,259 |
ESTIMATION OF FAIR VALUE (Table
ESTIMATION OF FAIR VALUE (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of estimations of fair value [abstract] | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Text Block] | December 31, 2023 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 5,692,937 Ps. 101,895 Ps. — Ps. 5,794,832 Securities issued or secured by other Colombian Government entities — 155,737 — 155,737 Securities issued or secured by foreign Governments 382 31,697 — 32,079 Securities issued or secured by other financial entities — 1,084,461 — 1,084,461 Securities issued or secured by non-financial sector entities — 6,406 — 6,406 Others — 39,865 — 39,865 Total trading investments Ps. 5,693,319 Ps. 1,420,061 Ps. — Ps. 7,113,380 Investments in debt securities at fair value through profit or loss Others — — 1,889 1,889 Total investments in debt securities at fair value through profit or loss Ps. 5,693,319 Ps. 1,420,061 Ps. 1,889 Ps. 7,115,269 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government Ps. 14,223,066 Ps. 2,567,727 Ps. — Ps. 16,790,793 Securities issued or secured by other Colombian Government entities 538,200 325,588 — 863,788 Securities issued or secured by foreign Governments 1,141,875 1,365,163 — 2,507,038 Level 1 Level 2 Level 3 Total Securities issued or secured by central banks — 145,489 — 145,489 Securities issued or secured by other financial entities — 2,142,647 — 2,142,647 Securities issued or secured by non-financial sector entities — 214,571 — 214,571 Others 1,457 660,993 — 662,450 Total investments in debt securities at fair value through OCI Ps. 15,904,598 Ps. 7,422,178 Ps. — Ps. 23,326,776 Total investments in debt securities Ps. 21,597,917 Ps. 8,842,239 Ps. 1,889 Ps. 30,442,045 Equity securities Trading equity securities Ps. 8,949 Ps. 3,605,832 Ps. 2,645,393 Ps. 6,260,174 Investments in equity through OCI 992,136 380 124,833 1,117,349 Total equity securities Ps. 1,001,085 Ps. 3,606,212 Ps. 2,770,226 Ps. 7,377,523 Held for trading derivatives Currency forward Ps. — Ps. 1,666,852 Ps. — Ps. 1,666,852 Debt securities forward — 19,258 — 19,258 Interest rate swap 212 308,156 — 308,368 Currency swap — 20,195 — 20,195 Currency options — 62,894 — 62,894 Total held for trading derivatives Ps. 212 Ps. 2,077,355 Ps. — Ps. 2,077,567 Hedging derivatives Currency forward — 687 — 687 Interest rate swap — 47,975 — 47,975 Total hedging derivatives Ps. — Ps. 48,662 Ps. — Ps. 48,662 Other account receivables Financial assets in concession contracts — — 3,830,916 3,830,916 Total other account receivables designated at fair value Ps. — Ps. — Ps. 3,830,916 Ps. 3,830,916 Non- financial assets Biological assets — — 230,672 230,672 Investment properties — — 906,469 906,469 Total non- financial assets Ps. — Ps. — Ps. 1,137,141 Ps. 1,137,141 Total assets at fair value on recurring basis Ps. 22,599,214 Ps. 14,574,468 Ps. 7,740,172 Ps. 44,913,854 Liabilities Trading derivatives Currency forward Ps. — Ps. 1,546,577 Ps. — Ps. 1,546,577 Debt securities forward — 129,345 — 129,345 Interest rate futures 3,752 — — 3,752 Interest rate swap 396 329,358 — 329,754 Currency swap — 60,846 — 60,846 Currency options — 84,087 — 84,087 Total trading derivatives Ps. 4,148 Ps. 2,150,213 Ps. — Ps. 2,154,361 Hedging derivatives Currency forward Ps. — Ps. 204,202 Ps. — Ps. 204,202 Interest rate swap — 13,364 — 13,364 Total hedging derivatives Ps. — Ps. 217,566 Ps. — Ps. 217,566 Total liabilities at fair value on recurring basis Ps. 4,148 Ps. 2,367,779 Ps. — Ps. 2,371,927 December 31, 2022 Level 1 Level 2 Level 3 Total Assets Trading investments Securities issued or secured by Colombian Government Ps. 2,536,952 Ps. 284,449 Ps. — Ps. 2,821,401 Securities issued or secured by other Colombian Government entities — 194,150 — 194,150 Securities issued or secured by foreign Governments — 57,600 — 57,600 Securities issued or secured by other financial entities — 651,807 — 651,807 Securities issued or secured by non-financial sector entities — 11,349 — 11,349 Others — 24,580 — 24,580 Total trading investments Ps. 2,536,952 Ps. 1,223,935 Ps. — Ps. 3,760,887 Investments in debt securities at fair value through profit or loss Others — — 1,378 1,378 Level 1 Level 2 Level 3 Total Total investments in debt securities at fair value through profit or loss Ps. 2,536,952 Ps. 1,223,935 Ps. 1,378 Ps. 3,762,265 Investments in debt securities at fair value through OCI Securities issued or secured by Colombian Government Ps. 12,592,025 Ps. 2,960,847 Ps. — Ps. 15,552,872 Securities issued or secured by other Colombian Government entities 510,913 278,335 — 789,248 Securities issued or secured by foreign Governments 1,622,089 1,774,366 — 3,396,455 Securities issued or secured by central banks — 194,098 — 194,098 Securities issued or secured by other financial entities — 1,622,899 5 1,622,904 Securities issued or secured by non-financial sector entities — 53,807 — 53,807 Others 1,796 850,625 — 852,421 Total investments in debt securities at fair value through OCI Ps. 14,726,823 Ps. 7,734,977 Ps. 5 Ps. 22,461,805 Total investments in debt securities Ps. 17,263,775 Ps. 8,958,912 Ps. 1,383 Ps. 26,224,070 Equity securities Trading equity securities Ps. 4,040 Ps. 4,338,026 Ps. 1,697,049 Ps. 6,039,115 Investments in equity through OCI 871,149 352 605,231 1,476,732 Total equity securities Ps. 875,189 Ps. 4,338,378 Ps. 2,302,280 Ps. 7,515,847 Held for trading derivatives Currency forward Ps. — Ps. 1,227,660 Ps. — Ps. 1,227,660 Debt securities forward — 4,418 — 4,418 Interest rate swap — 524,528 — 524,528 Currency swap — 157,747 — 157,747 Currency options — 127,052 — 127,052 Total held for trading derivatives Ps. — Ps. 2,041,405 Ps. — Ps. 2,041,405 Hedging derivatives Currency forward — 4,830 — 4,830 Interest rate swap — 16,024 — 16,024 Total hedging derivatives Ps. — Ps. 20,854 Ps. — Ps. 20,854 Other account receivables Financial assets in concession contracts — — 3,507,231 3,507,231 Total other account receivables designated at fair value Ps. — Ps. — Ps. 3,507,231 Ps. 3,507,231 Non- financial assets Biological assets — — 212,630 212,630 Investment properties — — 880,963 880,963 Total non- financial assets Ps. — Ps. — Ps. 1,093,593 Ps. 1,093,593 Total assets at fair value on recurring basis Ps. 18,138,964 Ps. 15,359,549 Ps. 6,904,487 Ps. 40,403,000 Liabilities Trading derivatives Currency forward Ps. — Ps. 885,933 Ps. — Ps. 885,933 Debt securities forward — 5,248 — 5,248 Interest rate futures 2,107 — — 2,107 Interest rate swap — 608,288 — 608,288 Currency swap — 112,600 — 112,600 Currency options — 143,430 — 143,430 Total trading derivatives Ps. 2,107 Ps. 1,755,499 Ps. — Ps. 1,757,606 Hedging derivatives Currency forward Ps. — Ps. 1,553 Ps. — Ps. 1,553 Interest rate swap — 2,015 — 2,015 Total hedging derivatives Ps. — Ps. 3,568 Ps. — Ps. 3,568 Total liabilities at fair value on recurring basis Ps. 2,107 Ps. 1,759,067 Ps. — Ps. 1,761,174 Level 1 Level 2 Level 3 Total December 31, 2023 Impaired collateralized loans Ps. — Ps. — Ps. 1,494,862 Ps. 1,494,862 Non- current assets held for sale — — 101,184 101,184 Ps. — Ps. — Ps. 1,596,046 Ps. 1,596,046 Level 1 Level 2 Level 3 Total December 31, 2022 Impaired collateralized loans Ps. — Ps. — Ps. 1,740,705 Ps. 1,740,705 Non- current assets held for sale — — 92,830 92,830 Ps. — Ps. — Ps. 1,833,535 Ps. 1,833,535 |
Trading assets in debt securities pledged as collateral | The following is a list of held-for-trading financial assets that are being used as collateral in repo operations, pledged as collateral for transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks. December 31, 2023 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 2,702,953 Ps. — Ps. — Ps. 2,702,953 Securities issued or secured by other financial entities — 71,343 — 71,343 Ps. 2,702,953 Ps. 71,343 Ps. — Ps. 2,774,296 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 78,990 Ps. — Ps. — Ps. 78,990 Ps. 78,990 Ps. — Ps. — Ps. 78,990 Ps. 2,781,943 Ps. 71,343 Ps. — Ps. 2,853,286 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) December 31, 2022 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 1,803,296 Ps. 137,298 Ps. — Ps. 1,940,594 Securities issued or secured by other Colombian Government entities — 1,006 — 1,006 Securities issued or secured by other financial entities — 4,980 — 4,980 Ps. 1,803,296 Ps. 143,284 Ps. — Ps. 1,946,580 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 52,153 Ps. — Ps. — Ps. 52,153 Ps. 52,153 Ps. — Ps. — Ps. 52,153 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 1,292 Ps. — Ps. — Ps. 1,292 Ps. 1,292 Ps. — Ps. — Ps. 1,292 Ps. 1,856,741 Ps. 143,284 Ps. — Ps. 2,000,025 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) |
Investment in debt at FVOCI securities pledged as collateral | December 31, 2023 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 8,571,208 Ps. 72,819 Ps. — Ps. 8,644,027 Securities issued or secured by other Colombian Government entities 15,464 39,785 — 55,249 Securities issued or secured by other financial entities — 18,479 — 18,479 Securities issued or secured by non-financial sector entities — 118,865 — 118,865 Securities issued or secured by foreign Governments 662,623 40,262 — 702,885 Securities issued or secured by central banks — 15,185 — 15,185 Others — 155,713 — 155,713 Ps. 9,249,295 Ps. 461,108 Ps. — Ps. 9,710,403 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 3,650 Ps. — Ps. — Ps. 3,650 Ps. 3,650 Ps. — Ps. — Ps. 3,650 Pledged as collateral to special entities such as CRCC, BR and BVC (*) December 31, 2023 Level 1 Level 2 Level 3 Total Securities issued or secured by Colombian Government Ps. 1,075,909 Ps. — Ps. — Ps. 1,075,909 Ps. 1,075,909 Ps. — Ps. — Ps. 1,075,909 Ps. 10,328,854 Ps. 461,108 Ps. — Ps. 10,789,962 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) December 31, 2022 Level 1 Level 2 Level 3 Total Pledged as collateral in money market operations Securities issued or secured by Colombian Government Ps. 3,718,431 Ps. 696,435 Ps. — Ps. 4,414,866 Securities issued or secured by other Colombian Government entities 138,474 37,047 — 175,521 Securities issued or secured by other financial entities — 89,982 — 89,982 Securities issued or secured by non-financial sector entities — 32,955 — 32,955 Securities issued or secured by foreign Governments 1,376,551 275,245 — 1,651,796 Securities issued or secured by central banks — 39,212 — 39,212 Others — 163,156 — 163,156 Ps. 5,233,456 Ps. 1,334,032 Ps. — Ps. 6,567,488 Pledged as collateral in operations with derivative instruments Securities issued or secured by Colombian Government Ps. 10,177 Ps. — Ps. — Ps. 10,177 Ps. 10,177 Ps. — Ps. — Ps. 10,177 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 1,145,747 Ps. — Ps. — Ps. 1,145,747 Ps. 1,145,747 Ps. — Ps. — Ps. 1,145,747 Ps. 6,389,380 Ps. 1,334,032 Ps. — Ps. 7,723,412 (*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”) |
Disclosure of Detailed Information About Sensitivity Analysis of Changes on Assumptions Related to Investments Classified as Equity Instruments at FVOCI [Text Block] | Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times + /-1 x Ps. 557 Ps. (556) Adjusted discounted cash flow Growth in residual values after 5 years + /- 1 % 281 (240) Income + /- 1 % 1,035 (1,046) Discount interest rates + /- 50 pb 1,066 (988) Gradient + /- 30 pb 257 (263) Ps. 3,196 Ps. (3,093) Favorable Unfavorable Methods and Variables Variation impact impact Comparable multiples / Recent transaction price EBITDA Number of times + /- 1 x Ps. 5,039 Ps. (5,043) Adjusted discounted cash flow Growth in residual values after 5 years + /- 1 % 250 (217) + /- 30 pb 305 (267) Income + /- 1 % 1,790 (1,680) Discount interest rates + /- 50 pb 1,078 (976) Ps. 8,462 Ps. (8,183) |
Disclosure of Detailed Information About Sensitivity Analysis of Changes on Assumptions Related to Investments Classified as Equity Instruments at FVTPL [Text Block] | The following table includes a sensitivity analysis of main equity securities amounting Ps. 2,567,099 Includes investments in the Nexus Real Estate Capital Funds as of December 31, 2023, classified at FVTPL level 3: Scenario 1 Scenario 2 Sensitivity impacts Ps. 38,209 Ps. (75,156) Ps. 38,209 Ps. (75,156) The following table includes a sensitivity analysis of main equity securities amounting Ps. 1,602,297 Includes investments in the Nexus Real Estate Capital Funds as of December 31, 2022, classified at FVTPL level 3: Scenario 1 Scenario 2 Sensitivity impacts Ps. 17,951 Ps. (29,162) Ps. 17,951 Ps. (29,162) Scenario 1 Increases in the sensitivity of: Market value (square meter) +10% Market income +10% Initial capitalization rate +50 bp Cash flow discount rate +50 bp Scenario 2 Decreases in the sensitivity of: Market value (square meter) -10% Market income -10% Initial capitalization rate -50 bp Cash flow discount rate -50 bp |
Disclosure of detailed information about sensitivity analysis of the assumptions used by Promigas and its subsidiaries in the calculation of fair value of unconditional transfer rights of gas pipelines to Government entities [Text Block] | December 31, 2023 December 31, 2022 Variable +100 bps -100 bps +100 bps -100 bps WACC Ps. (864,845) Ps. 1,316,441 Ps. (827,154) Ps. 1,279,273 Perpetuity growth rate 785,847 (552,066) 746,633 (518,685) (*) |
Disclosure of detailed information about transfer of fair value between level 1 and 2 | December 31, 2022 Investments in debt Investments in debt securities at FVTPL securities at FVOCI Transfers between: Transfers between: Level 2 to 1 Level 1 to 2 Level 3 to 2 Level 2 to 1 Level 1 to 2 Level 3 to 2 Securities issued or secured by Colombian Government Ps. 2,826 Ps. — Ps. — Ps. 1,836,591 Ps. — Ps. — Securities issued or secured by other Colombian Government entities — — — 287,490 — — Securities issued or secured by foreign Governments — — 57,600 24,098 — — Securities issued or secured by other financial entities — — — — — 6,980 Securities issued or secured by non-financial sector entities — — — — — 3,955 Others — — — 1,796 52,210 4,460 Ps. 2,826 Ps. — Ps. 57,600 Ps. 2,149,975 Ps. 52,210 Ps. 15,395 |
Disclosure of detailed information about Changes in Level 3 Fair-Value Category [Text Block] | Financial assets Financial assets in in debt Equity concession Biological Investment securities instruments arrangements assets properties January 1, 2021 Ps. 95,349 Ps. 1,159,963 Ps. 2,958,385 Ps. 122,675 Ps. 808,556 Changes in fair value recognised in profit or loss (3) 4,222 173,954 270,095 28,546 22,775 Changes in fair value recognised in OCI 85,096 (6,431) — — 7,991 Transfers to/from non-current assets held for sale — — — — 22,847 Reclassifications — — — — 4,490 Effect of movements in exchange rates — — — — 2,964 Additions — 3,553 — 27,213 77,157 Sales / redemptions (95,846) (15,665) — (23,448) (93,845) Discontinued operations (1) — 3,403 — — — Reclassification BAC (1) (2) — (47) — — — Transfers from level 2 to level 3 — 73,859 — — — Transfers from level 3 to level 2 — (35,425) — — — December 31, 2021 Ps. 88,821 Ps. 1,357,164 Ps. 3,228,480 Ps. 154,986 Ps. 852,935 Changes in fair value recognised in profit or loss (3) (58,845) 80,408 278,751 56,859 55,930 Changes in fair value recognised in OCI 671,348 16,613 — — 797 Transfers to/from non-current assets held for sale — — — — 31,184 Reclassifications — — — — (4,493) Effect of movements in exchange rates — — — — 2,282 Additions 227,854 918,046 — 28,368 70,081 Sales / redemptions (783,552) (13,062) — (27,583) (127,753) Discontinued operations (1) — 1 — — — Loss of control in subsidiary (1) (71,248) (56,599) — — — Transfers from level 3 to level 2 (72,995) (291) — — — December 31, 2022 Ps. 1,383 Ps. 2,302,280 Ps. 3,507,231 Ps. 212,630 Ps. 880,963 Changes in fair value recognised in profit or loss (3) 506 204,276 323,685 18,601 84,958 Changes in fair value recognised in OCI — 39,566 — — 557 Transfers to/from non-current assets held for sale — — — — 95,593 Reclassifications — — — — (4,160) Effect of movements in exchange rates — — — — (7,079) Additions (4) — 830,718 — 26,118 56,307 Sales / redemptions (5) — (606,614) — (26,677) (200,670) December 31, 2023 Ps. 1,889 Ps. 2,770,226 Ps. 3,830,916 Ps. 230,672 Ps. 906,469 (1) (2) (3) (4) (5) |
Disclosure of detailed information about financial assets and liabilities accounted at amortized cost and valued at fair value only for purposes of this disclosure [Text Block] | December 31, 2023 December 31, 2022 Carrying Fair Value Carrying Fair Value Amount Estimate Amount Estimate Assets Net investments in debt securities at amortized cost (1) Ps. 9,979,679 Ps. 9,981,183 Ps. 9,734,562 Ps. 9,744,533 Net credit portfolio at amortized cost (2) 176,168,055 190,375,349 179,115,847 180,119,474 Total financial assets Ps. 186,147,734 Ps. 200,356,532 Ps. 188,850,409 Ps. 189,864,007 Liabilities Customer deposits (3) Ps. 181,987,396 Ps. 183,570,708 Ps. 173,341,149 Ps. 173,929,783 Financial obligations (4) 65,541,339 64,208,758 72,116,775 68,429,431 Total financial liabilities Ps. 247,528,735 Ps. 247,779,466 Ps. 245,457,924 Ps. 242,359,214 The following is a breakdown of how financial assets and liabilities accounted at amortized cost and are measured at fair value for disclosure purposes only. (1) Financial assets at amortized cost Fair value of fixed income investments at amortized cost was determined using the dirty price given by the price supplier, securities in an active market and with a market price for the day of the valuation are classified as level 1; securities with no active market and/or with an estimated price (present value of the flows of a security, discounted with the reference rate and the corresponding margin) given by the supplier are classified as level 2 and level 3. (2) Credit portfolio at amortized cost For credit portfolio at amortized cost, the fair value was determined using discounted cash flows models at zero coupon bond, taking into account the credit risk and its maturity; the process of valuation is deemed as level 3. Accounts receivable and payable are classified as short-term assets and liabilities; in consequence, their fair value is similar to their book value. (3) Customer deposits The fair value of demand deposits is equal to their carrying value. For fixed-term deposits with maturities of less than 180 days, their fair value is deemed equal to their carrying value. For fixed-term deposits with maturities of more than 180 days, their fair value was estimated using the carrying discounted cash flow models and the interest rates offered by banks in accordance with their maturity. This is considered as a level 2 valuation. (4) Financial obligations |
CLASSIFICATION OF FINANCIAL A_2
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Classification of financial assets and financial liabilities [abstract] | |
Schedule of reconciliation of gross between line items in the statement of financial position and categories of financial instruments | Mandatorily FVOCI – FVOCI – Total December 31, 2023 at debt equity Amortized gross carrying Assets Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 18,597,861 Ps. 18,597,861 Trading assets 8 15,451,121 — — — 15,451,121 Debt securities 7,113,380 — — — 7,113,380 Equity securities 6,260,174 — — — 6,260,174 Derivative assets 2,077,567 — — — 2,077,567 Investment securities 9 1,889 23,326,776 1,117,349 9,996,561 34,442,575 Measured at fair value 1,889 23,326,776 1,117,349 — 24,446,014 Measured at amortized cost — — — 9,996,561 9,996,561 Loans 11 — — — 186,203,770 186,203,770 Other accounts receivable 12 3,830,916 — — 22,171,973 26,002,889 Measured at fair value 3,830,916 — — — 3,830,916 Measured at amortized cost — — — 22,171,973 22,171,973 Hedging derivative assets 10 48,662 — — — 48,662 Total financial assets Ps. 19,332,588 Ps. 23,326,776 Ps. 1,117,349 Ps. 236,970,165 Ps. 280,746,878 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized gross carrying Liabilities Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 2,154,361 Ps. — Ps. — Ps. — Ps. 2,154,361 Hedging derivative liabilities 10 217,566 — — — 217,566 Customer deposits 20 — — — 181,987,396 181,987,396 Financial obligations 21 — — — 65,541,339 65,541,339 Total financial liabilities Ps. 2,371,927 Ps. — Ps. — Ps. 247,528,735 Ps. 249,900,662 Mandatorily FVOCI – FVOCI – Total December 31, 2022 at debt equity Amortized gross carrying Assets Note FVTPL instruments instruments Cost amount Cash and cash equivalents 7 Ps. — Ps. — Ps. — Ps. 17,032,857 Ps. 17,032,857 Trading assets 8 11,841,407 — — — 11,841,407 Debt securities 3,760,887 — — — 3,760,887 Equity securities 6,039,115 — — — 6,039,115 Derivative assets 2,041,405 — — — 2,041,405 Investment securities 9 1,378 22,461,805 1,476,732 9,771,492 33,711,407 Measured at fair value 1,378 22,461,805 1,476,732 — 23,939,915 Measured at amortized cost — — — 9,771,492 9,771,492 Loans 11 — — — 188,313,361 188,313,361 Other accounts receivable 12 3,507,231 — — 20,255,758 23,762,989 Measured at fair value 3,507,231 — — — 3,507,231 Measured at amortized cost — — — 20,255,758 20,255,758 Hedging derivative assets 10 20,854 — — — 20,854 Total financial assets Ps. 15,370,870 Ps. 22,461,805 Ps. 1,476,732 Ps. 235,373,468 Ps. 274,682,875 Mandatorily FVOCI – FVOCI – Total at debt equity Amortized gross carrying Liabilities Note FVTPL instruments instruments Cost amount Trading liabilities Derivative liabilities 8 Ps. 1,757,606 Ps. — Ps. — Ps. — Ps. 1,757,606 Hedging derivative liabilities 10 3,568 — — — 3,568 Customer deposits 20 — — — 173,341,149 173,341,149 Financial obligations 21 — — — 72,116,775 72,116,775 Total financial liabilities Ps. 1,761,174 Ps. — Ps. — Ps. 245,457,924 Ps. 247,219,098 |
CASH AND CASH EQUIVALENTS (Tabl
CASH AND CASH EQUIVALENTS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of cash and cash equivalents [abstract] | |
Disclosure of detailed information about cash and cash equivalents [Text Block] | December 31, 2023 December 31, 2022 In Colombian Pesos Cash Ps. 3,723,337 Ps. 3,663,165 Deposits in the Colombian central bank 6,795,015 4,541,687 Demand deposits in banks and other financial entities 549,084 1,712,116 Clearing houses 488 2,109 Liquidity management 1,312,622 4,013 Cash held for specific purposes (1) 1,220,609 1,136,975 Ps. 13,601,155 Ps. 11,060,065 In foreign currency Cash Ps. 85,775 Ps. 103,696 Demand deposits in banks and other financial entities 4,600,966 5,245,531 Liquidity management 309,965 623,565 Ps. 4,996,706 Ps. 5,972,792 Total cash and cash equivalents Ps. 18,597,861 Ps. 17,032,857 (1) |
TRADING ASSETS AND LIABILITIES
TRADING ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Trading assets and liabilities [abstract] | |
Balances of trading asset and liabilities | Balances of trading asset and liabilities comprise the following as of December 31, 2023 and 2022: December 31, December 31, Note 2023 2022 Trading assets Debt securities 8.1 Ps. 7,113,380 Ps. 3,760,887 Equity securities 8.2 6,260,174 6,039,115 Derivative assets 8.3 2,077,567 2,041,405 Ps. 15,451,121 Ps. 11,841,407 Trading liabilities Derivative liabilities 8.3 2,154,361 1,757,606 Ps. 2,154,361 Ps. 1,757,606 Total trading assets and liabilities net Ps. 13,296,760 Ps. 10,083,801 |
Investments in debt securities at fair value through profit or loss held for trading | The following is the balance at December 31, 2023 and 2022. December 31, December 31, 2023 2022 Securities issued or secured by the Colombian Government Ps. 5,794,832 Ps. 2,821,401 Securities issued or secured by other Colombian Government entities 155,737 194,150 Securities issued or secured by foreign Governments 32,079 57,600 Securities issued or secured by other financial entities 1,084,461 651,807 Securities issued or secured by non-financial sector entities 6,406 11,349 Others 39,865 24,580 Total trading debt securities Ps. 7,113,380 Ps. 3,760,887 |
Investments in equity securities at fair value through profit or loss held for trading | The following is the balance at December 31, 2023 and 2022. December 31, December 31, 2023 2022 In Colombian Pesos Corporate stock Ps. 8,949 Ps. 4,040 Investment funds (1) 4,079,070 3,855,604 Pension and severance funds (2) 2,084,955 2,072,765 Ps. 6,172,974 Ps. 5,932,409 In foreign currency Corporate stock Ps. 4,100 Ps. 5,490 Investment funds 83,100 101,216 Ps. 87,200 Ps. 106,706 Total equity securities Ps. 6,260,174 Ps. 6,039,115 (1) (2) |
Schedule of held-for-trading derivative assets and liabilities | December 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 2,805 Ps. 1,543,886 Ps. 928,797 Ps. 261,614 Foreign currency to sell 1,664,047 2,691 298,863 624,319 Debt securities to buy 18,895 589 104 996 Debt securities to sell 363 128,757 4,314 4,252 Subtotal Ps. 1,686,110 Ps. 1,675,923 Ps. 1,232,078 Ps. 891,181 Swap Cross currency 20,195 60,845 157,747 112,600 Interest rate 308,368 329,754 524,528 608,288 Subtotal Ps. 328,563 Ps. 390,599 Ps. 682,275 Ps. 720,888 Futures contracts Interest rate to sell — 3,752 — 2,107 Subtotal Ps. — Ps. 3,752 Ps. — Ps. 2,107 Options contracts Foreign currency to buy 62,894 — 108,334 127,692 Foreign currency to sell — 84,087 18,718 15,738 Subtotal 62,894 84,087 127,052 143,430 Total derivative assets and liabilities trading Ps. 2,077,567 Ps. 2,154,361 Ps. 2,041,405 Ps. 1,757,606 |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of investment securities [abstract] | |
Balances of investment securities | Note December 31, 2023 December 31, 2022 Investments in debt securities mandatorily at FVTPL 9.1 Ps. 1,889 Ps. 1,378 Investments in debt securities at FVOCI 9.2 23,326,776 22,461,805 Investments in debt securities at amortized cost 9.3 9,996,561 9,771,492 Investments in equity securities at FVOCI 9.4 1,117,349 1,476,732 Ps. 34,442,575 Ps. 33,711,407 Loss impairment Investments in debt securities at amortized cost 4.1.5 Ps. (16,882) Ps. (36,930) Ps. (16,882) Ps. (36,930) Total investment securities net Ps. 34,425,693 Ps. 33,674,477 |
Investments in debt securities at fair value through profit or loss | The following table includes investments on asset-backed securities mandatorily at FVTPL because the contractual cash flows of these securities are not SPPI on the principal outstanding. December 31, 2023 December 31, 2022 Others 1,889 1,378 Total investments in debt securities mandatorily at FVTPL Ps. 1,889 Ps. 1,378 |
Investments in debt securities at fair value through OCI | The following table includes investments in debt securities at FVOCI as of December 31, 2023 and 2022: December 31, 2023 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value ECL Securities issued or secured by Colombian Government Ps. 17,626,642 Ps. 146,608 Ps. (982,457) Ps. 16,790,793 Ps. 7,204 Securities issued or secured by other Colombian Government entities 898,373 6,213 (40,798) 863,788 1,183 Securities issued or secured by foreign Governments 2,717,651 6,385 (216,998) 2,507,038 611 Securities issued or secured by central banks 194,480 — (48,991) 145,489 56 Securities issued or secured by other financial entities 2,159,892 19,370 (36,615) 2,142,647 2,398 Securities issued or secured by non-financial sector entities 215,877 156 (1,462) 214,571 822 Others 704,393 253 (42,196) 662,450 698 Total debt securities at FVOCI Ps. 24,517,308 Ps. 178,985 Ps. (1,369,517) Ps. 23,326,776 Ps. 12,972 December 31, 2022 Debt securities Cost Unrealized Gain Unrealized Losses Fair Value ECL Securities issued or secured by Colombian Government Ps. 17,891,099 Ps. 15,293 Ps. (2,353,520) Ps. 15,552,872 Ps. 6,845 Securities issued or secured by other Colombian Government entities 885,106 28 (95,886) 789,248 1,059 Securities issued or secured by foreign Governments 3,734,594 17,215 (355,354) 3,396,455 1,210 Securities issued or secured by central banks 242,047 — (47,949) 194,098 27 Securities issued or secured by other financial entities 1,718,512 304 (95,912) 1,622,904 2,316 Securities issued or secured by non-financial sector entities 57,252 — (3,445) 53,807 257 Others 919,107 16,817 (83,503) 852,421 972 Total debt securities at FVOCI Ps. 25,447,717 Ps. 49,657 Ps. (3,035,569) Ps. 22,461,805 Ps. 12,686 |
Schedule of Tabular disclosure of amounts reclassified to profit or loss form OCI gross of taxes, related to investment debt securities FVOCI | December 31, 2023 December 31, 2022 Redemptions or sales (104,012) (135,465) ECL allowance 1,236 3,678 Total reclassified to profit or loss Ps. (102,775) Ps. (131,787) |
Investments in debt securities at amortized cost | Debt securities December 31, 2023 December 31, 2022 Securities issued or secured by Colombian Government Ps. 2,567,463 Ps. 2,299,618 Securities issued or secured by other Colombian Government entities 5,112,355 4,509,839 Securities issued or secured by foreign Governments 26,515 33,453 Securities issued or secured by other financial entities 2,082,993 2,618,656 Securities issued or secured by non-financial sector entities 143,410 237,537 Others 63,825 72,389 Total debt securities at amortized cost Ps. 9,996,561 Ps. 9,771,492 |
Summary of investments in debt securities at amortized cost by maturity dates | December 31, 2023 December 31, 2022 Up to 1 month Ps. 927,454 Ps. 768,921 More than 1 month and no more than 3 months 26,515 80,379 More than 3 months and no more than 1 year 6,765,886 6,032,434 More than 1 year and no more than 5 years 151,217 187,795 More than 5 years and no more than 10 years 2,098,299 2,668,331 More than 10 years 27,190 33,632 Total Ps. 9,996,561 Ps. 9,771,492 |
Investment in debt at amortized cost securities pledged as collateral | December 31, December 31, 2023 2022 Pledged as collateral in money market operations Securities issued or secured by other Colombian Government entities Ps. 1,667,922 Ps. 118,536 Securities issued or secured by Colombian Government 489,631 — Securities issued or secured by other financial entities — 25,449 Securities issued or secured by non-financial sector entities 118,364 236,212 Ps. 2,275,917 Ps. 380,197 Pledged as collateral to special entities such as CRCC, BR and BVC (*) Securities issued or secured by Colombian Government Ps. 539,339 Ps. — Securities issued or secured by other Colombian Government entities 393,634 999,561 Ps. 932,973 Ps. 999,561 Ps. 3,208,890 Ps. 1,379,758 (*) |
Investments in equity securities at fair value through OCI | December 31, 202 3 Cost Unrealized Gain Unrealized Losses Fair Value In Colombian Pesos Corporate stock Ps. 585,352 Ps. 121,017 Ps. (33,137) Ps. 673,232 In foreign currency Corporate stock 9,227 440,562 (5,672) 444,117 Total equity securities Ps. 594,579 Ps. 561,579 Ps. (38,809) Ps. 1,117,349 December 31, 2022 ok Cost Unrealized Gain Unrealized Losses Fair Value In Colombian Pesos Corporate Stock Ps. 1,109,648 Ps. 385,712 Ps. (20,159) Ps. 1,475,201 In foreign currency Corporate Stock 697 859 (25) 1,531 Total equity securities Ps. 1,110,345 Ps. 386,571 Ps. (20,184) Ps. 1,476,732 |
Disclosure of equity securities at fair value through OCI | Entity (*) December 31, 2023 December 31, 2022 Empresa de Energía de Bogotá S.A. E.S.P. Ps. 903,068 Ps. 799,928 BAC Holding International Corp (1) — 519,964 Mineros S.A. 43,765 44,123 Port operating companies 58,355 36,010 Bolsa de Valores de Colombia S.A. (2) — 26,920 Holding Bursátil Regional S.A. (2) 45,085 — Others 67,076 49,787 Total Ps. 1,117,349 Ps. 1,476,732 (*) (1) . (2) |
HEDGE ACCOUNTING (Tables)
HEDGE ACCOUNTING (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Document Information [Line Items] | |
Disclosure of detailed information about fluctuation in foreign exchange rates [Text Block] | Changes in the Colombian peso against the U.S. dollar have been as follows: Date Value of US$ 1 Variation in pesos December 31, 2021 3,981.16 548.66 December 31, 2022 4,810.20 829.04 December 31, 2023 3,822.05 (988.15) |
Disclosure of detailed information about movements in other comprehensive income related to hedges of net investment in foreign operations | According to the information described above, the following table shows movements of OCI gross of taxes, related to hedges of net investment in foreign operations: December 31, 2023 Hedging Hedging Hedged non-derivative derivative Net OCI Investment Item instrument instrument account Multi Financial Holding Ps. (393,836) Ps. 385,379 Ps. — Ps. (8,457) Other subsidiaries and branches Banco de Bogotá (137,731) 118,577 — (19,154) Occidental Bank Barbados Ltd. (30,956) 30,956 — — Banco de Occidente (Panamá) S.A. (42,091) 42,091 — — Sociedad Portuaria El Cayao S.A. E.S.P. (25,513) 25,513 — — Gases del Pacífico S.A.C. (32,050) 23,144 — (8,906) Gas Natural de Lima y Callao S.A.C. – Calidda (106,851) 106,851 — — Promigas Perú S.A.C. (4,763) 4,763 — — Gases del Norte del Perú S.A.C. (23,718) 23,718 — — Promigas Panamá Corporation (5) 5 — — Total Ps. (797,514) Ps. 760,997 Ps. — Ps. (36,517) December 31, 2022 Hedging Hedging Hedged non-derivative derivative Net OCI Investment Item instrument instrument account Multi Financial Holding and BAC Holding Ps. (6,991,093) Ps. 2,756,328 Ps. 4,048,523 Ps. (186,242) Other subsidiaries and branches Banco de Bogotá 105,255 (3,470) 2,976 104,761 Occidental Bank Barbados Ltd. 23,104 (23,104) — — Banco de Occidente (Panamá) S.A. 26,838 (26,838) — — Sociedad Portuaria El Cayao S.A. E.S.P. 21,903 (21,903) — — Gases del Pacífico S.A.C. 26,391 (18,919) — 7,472 Gas Natural de Lima y Callao S.A.C. 90,633 (90,633) — — Promigas Perú S.A.C. 3,996 (3,996) — — Gases del Norte del Perú S.A.C. 17,639 (17,639) — — Promigas Panamá Corporation 5 (5) — — Total Ps. (6,675,329) Ps. 2,549,821 Ps. 4,051,499 Ps. (74,009) |
Disclosure of detailed information about hedge in foreign currency equity investments [Text Block] | According to information described above, the following table contains details of hedging operations carried out to cover foreign denominated equity investments. The analysis shows current amount of OCI gross of taxes: December 31, 2023 Thousands of US$ Ps. millions Hedge amount in Current Current foreign Hedge Current amount amount Current Hedged currency in amount in amount Hedging Hedging amount investment financial forward Hedged non-derivative derivative Net OCI Investment amount liabilities contracts Item instrument instrument account Multi Financial Holding 405,867 (390,000) — Ps. 6,974 Ps. 46,021 Ps. (435) Ps. 52,560 Other subsidiaries and branches Banco de Bogotá (1) 152,882 (120,000) — 202,519 115,107 (230,412) 87,214 Occidental Bank Barbados Ltd. 37,341 (37,341) — 43,626 (43,626) — — Banco de Occidente (Panamá) S.A. 58,877 (58,877) — 57,337 (57,337) — — Sociedad Portuaria El Cayao S.A. E.S.P. 26,365 (26,365) — 26,410 (26,410) — — Gases del Pacífico S.A.C. 31,888 (31,888) — 6,068 (21,331) — (15,263) Gas Natural de Lima y Callao S.A.C. – Calidda 114,887 (114,887) — 67,050 (67,050) — — Promigas Perú S.A.C. 4,820 (4,820) — 741 (741) — — Gases del Norte del Perú S.A.C. 24,006 (24,006) — (3,578) 3,578 — — Promigas Panamá Corporation 1 (1) — 2 (2) — — Total 856,934 (808,185) — Ps. 407,149 Ps. (51,791) Ps. (230,847) Ps. 124,511 (1) December 31, 2022 Thousands of US$ Ps. millions Hedge amount in Current Current foreign Hedge Current amount amount Current Hedged currency in amount in amount Hedging Hedging amount investment financial forward Hedged non-derivative derivative Net OCI Investment amount liabilities contracts Item instrument instrument account Multi Financial Holding 394,372 (390,000) — Ps. 400,810 Ps. (339,358) Ps. (435) Ps. 61,017 Other subsidiaries and branches Banco de Bogotá (1) 131,923 (120,000) (281) 340,250 (3,470) (230,412) 106,368 Occidental Bank Barbados Ltd. 28,755 (28,755) — 74,582 (74,582) — — Banco de Occidente (Panamá) S.A. 35,151 (35,151) — 99,428 (99,428) — — Sociedad Portuaria El Cayao S.A. E.S.P. 562,151 (562,151) — 51,923 (51,923) — — Gases del Pacífico S.A.C. 216,876 (216,876) — 38,118 (44,475) — (6,357) Gas Natural de Lima y Callao S.A.C. – Calidda 97,109 (97,109) — 173,901 (173,901) — — Promigas Perú S.A.C. 25,978 (25,978) — 5,504 (5,504) — — Gases del Norte del Perú S.A.C. 129,382 (129,382) — 20,140 (20,140) — — Promigas Panamá Corporation 16 (16) — 7 (7) — — Total 1,621,713 (1,605,418) (281) Ps. 1,204,663 Ps. (812,788) Ps. (230,847) Ps. 161,028 (1) |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [text block] | The following is the summary of Promigas and its subsidiaries open cash flow hedges: December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 643,670 127,695 Notional amount contracts FWDThousands of U.S. dollar 420,670 126,921 % hedged 86 % 88 % Fair value in Colombian pesos (59,715) 61,142 # of contracts 46 161 |
Disclosure of analysis of other comprehensive income by item [text block] | December 31, 2023 December 31, 2022 December 31, 2021 Balance at the beginning of the year Ps. 5,542 Ps. 7,938 Ps. (42) Changes in the fair value FwD - Future transactions (26,203) 6,995 (8,879) Changes in the fair value FwD - financial obligations (32,672) — — Changes in the fair value bonds 270,064 — — Changes in the fair value other accounts receivable (258,982) — — Reclassified to profit or loss 11,870 (9,391) 16,859 Balance at the end of the year Ps. (30,381) Ps. 5,542 Ps. 7,938 |
Schedule of Change in Fair Value and Interest Expenses of Hedging Instrument [Table Text Block] | Changes in fair value and interest expense during the years ended on December 31, 2023 and 2022 is as follows: December 31, 2023 Change in fair Interest value expense (1) Banco de Bogotá Ps. 79,864 Ps. (61,905) Banco de Occidente 116 (1,428) Total Ps. 79,980 Ps. (63,333) (1) December 31, 2022 Change in fair Interest value expense (1) Banco de Bogotá Ps. (14) Ps. (1,242) Multi Financial Holding 168 — Total Ps. 154 Ps. (1,242) |
Disclosure of detailed information about derivative financial instruments for hedging [Text Block] | According to information described above, the following table contains the fair value of derivative financial instruments used for hedging: December 31, 2023 December 31, 2022 Item Assets Liabilities Assets Liabilities Forward contracts Foreign currency to buy Ps. 687 Ps. 204,202 Ps. 4,630 Ps. 1,416 Foreign currency to sale — — 200 137 Subtotal Ps. 687 Ps. 204,202 Ps. 4,830 Ps. 1,553 Swap Cross currency — — — — Interest rate 47,975 13,364 16,024 2,015 Subtotal Ps. 47,975 Ps. 13,364 Ps. 16,024 Ps. 2,015 Total hedge derivatives Ps. 48,662 Ps. 217,566 Ps. 20,854 Ps. 3,568 |
Banco de Bogota S.A. | |
Document Information [Line Items] | |
Disclosure of detailed information about hedging instruments [text block] | December 31, 2023 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 6,539,684 Ps. 47,975 Ps. 10,871 Items designated hedged Time Deposits issued 6,539,684 — 40,289 December 31, 2022 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 235,000 Ps. 1,228 Ps. — Items designated hedged Time Deposits issued 235,000 — 1,242 |
Banco de Bogota S.A. | Other Accounts Receivable [Member] | |
Document Information [Line Items] | |
Disclosure of hedging of exchange rate risk | December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 309,788 — Notional amount bond Thousands of U.S. dollar 309,788 — % hedged 100 % — % Fair value in Colombian pesos 1,184,025 — # of contracts 1 — |
Banco de Bogota S.A. | Financial obligations [member] | |
Document Information [Line Items] | |
Disclosure of hedging of exchange rate risk | December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 1,097,038 — Notional amount contracts FWD Thousands of U.S. dollar 1,098,950 — % hedged 100 % — % Fair value in Colombian pesos 4,152,626 — # of contracts 74 — |
Corporacion Financiera Colombiana S.A. | Other Accounts Receivable [Member] | |
Document Information [Line Items] | |
Disclosure of hedging of exchange rate risk | December 31, 2023 December 31, 2022 Income in Thousands of U.S. dollar forecasted 7,610 — Notional amount contracts FWD Thousands of U.S. dollar 7,610 — % hedged 100 % — % # of contracts 17 — |
Banco de Occidente S.A. | |
Document Information [Line Items] | |
Disclosure of detailed information about hedging instruments [text block] | December 31, 2023 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 435,000 Ps. 850 Ps. — Items designated hedged Time Deposits issued 435,000 — 734 December 31, 2022 Carrying amount Fair value hedges Notional amount Assets Liabilities Hedging instruments Interest rate Swap Ps. 98,609 Ps. 107 Ps. 786 Items designated hedged Securities issued or secured by Government and Corporate issuers 98,609 969 — |
LOANS (Tables)
LOANS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of loans and receivables [abstract] | |
Disclosure of detailed information about distribution of the credit portfolio [Text Block] | The distribution of the loan portfolio of Grupo Aval by product is shown as follows: December 31, 2023 December 31, 2022 General purpose loans Ps. 73,738,900 Ps. 74,621,729 Payroll loans 32,619,563 33,306,684 Working capital loans 16,413,196 14,631,609 Mortgages 16,294,206 15,488,044 Personal loans 14,232,850 13,425,625 Credit Cards 7,937,759 7,341,533 Automobile and vehicle loans 5,332,355 5,421,073 Loans funded by development banks 4,464,785 4,053,300 Commercial financial leases 11,706,825 10,861,995 Housing leases 2,192,000 2,395,311 Consumer financial leases 15,509 18,491 Overdrafts 585,686 512,504 Interbank & overnight funds 392,607 5,967,743 Microcredit 277,529 267,720 Gross balance of loan portfolio Ps. 186,203,770 Ps. 188,313,361 Loss allowance loan portfolio (1) (10,035,715) (9,197,514) Net balance of loan portfolio Ps. 176,168,055 Ps. 179,115,847 (1) |
Disclosure of detailed information about distribution of loans portfolio by maturity period [Text Block] | The distribution of Grupo Aval´s loan portfolio by contractual maturity period is as follows: December 31, 2023 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial – Client portfolio Ps. 57,018,945 Ps. 27,895,921 Ps. 12,044,149 Ps. 10,088,802 Ps. 107,047,817 Consumer 10,679,728 13,325,877 11,496,786 24,497,220 59,999,611 Mortgage 865,216 1,187,222 1,317,412 15,116,356 18,486,206 Microcredit 162,667 108,095 5,266 1,501 277,529 Interbank and overnight funds 392,607 — — — 392,607 Total gross loan portfolio Ps. 69,119,163 Ps. 42,517,115 Ps. 24,863,613 Ps. 49,703,879 Ps. 186,203,770 December 31, 2022 Up to 1 From 1 to From 3 to More than year 3 years 5 years 5 years Total Commercial – Client portfolio Ps. 52,035,331 Ps. 29,192,573 Ps. 13,784,223 Ps. 9,762,972 Ps. 104,775,099 Consumer 9,387,125 12,229,155 10,996,682 26,806,482 59,419,444 Mortgage 752,955 1,078,137 1,190,998 14,861,265 17,883,355 Microcredit 155,351 105,603 5,692 1,074 267,720 Interbank and overnight funds 5,967,743 — — — 5,967,743 Total gross loan portfolio Ps. 68,298,505 Ps. 42,605,468 Ps. 25,977,595 Ps. 51,431,793 Ps. 188,313,361 |
Disclosure of detailed information about interest income by portfolio | The interest income of the loan portfolio of Grupo Aval by portfolio is shown as follows: December 31, 2023 December 31, 2022 December 31, 2021 (1) Commercial – Client portfolio Ps. 14,497,926 Ps. 8,608,592 Ps. 4,698,563 Consumer 9,208,508 7,048,747 5,890,691 Mortgage 1,687,962 1,349,898 1,080,022 Microcredit 71,352 64,582 77,880 Repos, interbank loans portfolio 1,068,367 487,697 134,988 Total interest income Ps. 26,534,115 Ps. 17,559,516 Ps. 11,882,144 (1) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. |
Disclosure of detailed information about reconciliation of undiscounted lease payments to net investment in finance lease [Text Block] | As of December 31, 2023, and 2022 the following table shows the reconciliation between gross investment in financial leasing and the present value of minimum payments to be received in these dates: December 31, 2023 December 31, 2022 Total gross rent payments receivable Ps. 29,491,587 Ps. 21,766,425 Less (495) (544) Plus, 32,657 36,559 Gross investment in contracts of financial leasing 29,523,749 21,802,440 Less (15,609,415) (8,526,643) Net investment in contracts of financial leasing Ps. 13,914,334 Ps. 13,275,797 Loss allowance of net investment in financial leasing Ps. (460,528) Ps. (678,367) |
Disclosure of detailed information about gross investment and net investment in financial leasing contracts receivable [Text Block] | The detailed information of gross investment and net investment in financial leasing contracts receivable as of December 31, 2023 and 2022 in each period is as follows: December 31, 2023 Gross investment Net investment Up to 1 year Ps. 13,480,780 Ps. 6,398,382 From 1 to 5 years 6,560,824 2,532,708 More than 5 years 9,482,145 4,983,244 Total Ps. 29,523,749 Ps. 13,914,334 December 31, 2022 Gross investment Net investment Up to 1 year Ps. 4,378,980 Ps. 1,962,546 From 1 to 5 years 8,502,594 5,585,560 More than 5 years 8,920,866 5,727,691 Total Ps. 21,802,440 Ps. 13,275,797 |
OTHER ACCOUNTS RECEIVABLE, NET
OTHER ACCOUNTS RECEIVABLE, NET (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other accounts receivables [abstract] | |
Disclosure of detailed information about other receivables | Balances of other accounts receivable, net of impairment losses, comprise the following as of December 31, 2023 and 2022: December 31, December 31, Note 2023 2022 Contract assets 12.1 Ps. 17,821,214 Ps. 16,161,187 Other accounts receivable 12.2 8,181,675 7,601,802 Total other accounts receivable 26,002,889 23,762,989 Loss allowance 4.1.5 (385,664) (382,416) Total other accounts receivable, net Ps. 25,617,225 Ps. 23,380,573 |
Disclosure of detailed information about contract assets | The following table provides information about assets from contracts with customers as of December 31, 2023 and 2022: Contract assets December 31, 2023 December 31, 2022 Financial assets in concession arrangements rights at fair value (1) Ps. 3,830,916 Ps. 3,507,231 Financial assets in concession arrangements rights at amortized cost (1) 13,990,298 12,653,956 Gross balance of other accounts receivable Ps. 17,821,214 Ps. 16,161,187 Loss allowance (2) (8,394) (8,171) Total contract assets Ps. 17,812,820 Ps. 16,153,016 (1) See note 16 details regarding concession arrangements rights. (2) See reconciliations simplified approach and general approach loss allowance on note 4.1.5 . |
Schedule of other accounts receivable measured at amortized cost, except | The detailed information of other accounts receivable measured at amortized cost, except for prepaid expenses, as of December 31, 2023 and 2022 is as follows: Other accounts receivable December 31, 2023 December 31, 2022 Accounts receivable for goods and services sales in Non-financial sector companies Ps. 1,469,899 Ps. 1,455,555 Debtors 1,889,732 2,061,364 Credit card compensations and network compensations 1,348,140 658,721 Payment in advance 760,877 633,358 Government 579,701 577,117 Conditional contributions 712,135 694,018 Taxes 35,667 30,862 Others 1,385,524 1,490,807 Gross balance of other accounts receivable Ps. 8,181,675 Ps. 7,601,802 Loss allowance (377,270) (374,245) Other accounts receivable, net Ps. 7,804,405 Ps. 7,227,557 |
NON-CURRENT ASSETS HELD FOR S_2
NON-CURRENT ASSETS HELD FOR SALE (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of noncurrent assets held-for-sale [abstract] | |
Schedule of the movement of non-current assets held for sale | The movement of the non-current assets held for sale during the years ended December 31, 2023, 2022 and 2021 is as follows: December 31, 2023 December 31, 2022 December 31, 2021 Balance at the beginning of the year Ps. 92,830 Ps. 208,426 Ps. 240,412 Additions 72,466 74,812 137,710 Assets sold, net (1) (118,808) (51,863) (60,747) Increase / decrease by changes in fair value (268) (76) (3,780) Reclassifications (2) 62,058 (88,609) (135,643) Effect of movements in exchange rates (7,094) 13,960 (8,310) Loss of control in subsidiary (3) — (72,014) — Discontinued operations (3)(4) — 8,194 (94) Balance at year end Ps. 101,184 Ps. 92,830 Ps. 208,426 (1) From the leaseback operation with the NEXUS Real Estate Capital Funds includes withdrawals for December 31, 2023 by Ps. (79,546) , for December 31, 2022 by Ps. (15,179) and for December 31, 2021 by Ps. (32,365) . (2) Includes for December 31, 2023 reclassifications to i) to investment properties by Ps. (95,593) ii) from other assets by Ps. 25,654 and iii) from Properties, plant and equipment for Ps. 131,997 for December 31, 2022 reclassifications to i) to investment properties by Ps. (31,184) ii) to other assets by Ps. (62,943 ) and iii) from Properties, plant and equipment for Ps. 5,536 and for December 31, 2021 reclassifications to: i) to investment properties by Ps. (22,847) , ii) to other assets by Ps. (111,442) ; iii) from Properties, plant and equipment for own use Ps. 1,074 ; iv) to concession arrangements by Ps. (2,516) and v) from Right-of-use assets by Ps. 102 . (3) See note 1.1 “Discontinued operations of BAC Holding” (4) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022 |
Schedule of the detail of non-current assets held for sale | The following is the detail of the non-current assets held for sale: December 31, 2023 December 31, 2022 Foreclosed assets Movable property Ps. 3,421 Ps. 2,245 Residential real estate 15,070 23,802 Other real estate 35,024 36,929 Ps. 53,515 Ps. 62,976 Assets received from leasing agreements Vehicles 559 134 Real estate 10,373 4,891 Ps. 10,932 Ps. 5,025 Other non-current assets held for sale Land Ps. 15,534 Ps. 3,023 Real estate 20,925 19,911 Other 278 1,895 Ps. 36,737 Ps. 24,829 Total non-current assets held for sale Ps. 101,184 Ps. 92,830 |
Schedule of the detail of associated liabilities to assets held for sale | Following is the detail of the associated liabilities to assets held for sale: December 31, 2023 December 31, 2022 Other accounts payable Ps. 4,338 Ps. 12,646 Provisions 532 — Total Ps. 4,870 Ps. 12,646 |
INVESTMENTS IN ASSOCIATES AND_2
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of investments in associates and joint ventures [Abstract] | |
Disclosure of detailed information about investment in associates and joint ventures [text block] | The detail of the investments in associates and joint ventures for the years ended December 31, 2023, and 2022 is as follows: December 31, 2023 December 31, 2022 Associates Ps. 1,288,641 Ps. 1,419,296 Joint ventures 2,042 4,047 Total Ps. 1,290,683 Ps. 1,423,343 |
Disclosure of interests in associates [text block] | December 31, 2023 December 31, 2022 Ownership Book Ownership Book interest value interest value Associates Gas Natural de Lima y Callao S.A. - Cálidda 40 % Ps. 614,577 40 % Ps. 768,953 Gases del Caribe S.A. E.S.P. 31 % 328,661 31 % 313,968 Credibanco S.A. 25 % 210,399 25 % 205,604 Redeban Multicolor S.A. 20 % 41,562 20 % 33,183 A.C.H Colombia S.A. 34 % 32,580 34 % 32,134 Aerocali S.A. 50 % 24,389 50 % 30,499 Colombiana de Extrusión S.A. - Extrucol 30 % 14,507 30 % 12,321 ADL Digital Lab S.A.S. 34 % 12,231 34 % 8,439 Servicios de Identidad Digital S.A.S. 33 % 4,039 33 % 7,050 Energía Eficiente S.A. 33 % 3,485 33 % 4,136 Metrex S.A. 18 % 2,211 18 % 2,596 Concentra Inteligencia en Energía S.A.S. (1) — % — 24 % 413 Ps. 1,288,641 Ps. 1,419,296 |
Disclosure of interests in joint arrangements [text block] | December 31, 2023 December 31, 2022 Ownership Book Ownership Book Book interest value interest value value Joint ventures Renting Automayor S.A.S. (1) 50 % Ps. 2,042 50 % Ps. 4,047 (1) Joint businesses executed by Grupo Aval’s subsidiaries with specific purposes wherein the joint business assumes no responsibilities for business results, not requiring significant equity resources from Grupo Aval. |
Disclosure of interests in associates corporate purpose [table text block] | Associate Corporate purpose 1 Gas Natural de Lima y Callao S.A. - Cálidda Gas distribution 2 Gases del Caribe S.A. E.S.P. Gas distribution 3 Credibanco S.A. Payment processing 4 Redeban Multicolor S.A. Payment processing 5 A.C.H Colombia S.A. Automated clearing house 6 Aerocali S.A. Projects in airport infrastructure 7 Colombiana de Extrusión S.A. - Extrucol Networks and infrastructure 8 ADL Digital Lab S.A.S. Tecnology or digital services 9 Servicios de Identidad Digital S.A.S. Digital services 10 Energía Eficiente S.A. Gas distribution 11 Metrex S.A. Manufacturing and commercialization of industrial equipment 12 Concentra Inteligencia en Energía S.A.S. Gas distribution |
Disclosure of detailed information about movement of investments in associates and joint ventures accounts [text block] | A roll-forward of investments in associates and joint ventures accounts is shown below for the years ended December 31, 2023, 2022 and 2021: Associates December 31, December 31, December 31, 2023 2022 2021 Balance at the beginning of the year Ps. 1,419,296 Ps. 1,170,435 Ps. 1,029,243 Acquisitions 2,433 7,267 4,539 Participation in the profit or loss of the period 373,402 371,127 298,705 Participation in Other Comprehensive Income (35,892) 81,730 (846) Dividends declared (363,466) (301,895) (225,844) Liquidated entity (282) — — Exchange difference (106,850) 90,632 63,654 Realization of Other Comprehensive Income — — 1,059 Dilution effect — — (75) Year-end balance Ps. 1,288,641 Ps. 1,419,296 Ps. 1,170,435 Joint ventures December 31, December 31, December 31, 2023 2022 2021 Balance at the beginning of the year Ps. 4,047 Ps. 2,394 Ps. 79 Participation in the period profit or loss (2,005) 1,650 1,512 Dividends received — — (70) Acquisitions — 3 — Exchange difference — — 873 Year-end balance Ps. 2,042 Ps. 4,047 Ps. 2,394 |
Disclosure of associates [text block] | At the time calculating the equity method, the year-end financial information of associates was not available. Therefore, the financial information of the immediately preceding month for the years 2023 and 2022 was used, this information corresponds to 100% after homogenizations. December 31, 2023 Assets Liabilities Equity Income Expenses Net income LTM Gas Natural de Lima y Callao S.A. - Cálidda Ps. 6,116,364 Ps. 4,521,154 Ps. 1,595,210 Ps. 3,832,676 Ps. 3,378,051 Ps. 454,625 Gases del Caribe S.A. E.S.P. 4,066,193 2,974,633 1,091,560 3,104,261 2,730,690 373,571 Redeban Multicolor S.A. 2,101,985 1,918,782 183,203 443,196 423,438 19,758 Credibanco S.A. 431,534 180,505 251,029 329,109 293,021 36,088 A.C.H Colombia S.A. 342,153 232,328 109,825 292,592 184,168 108,424 Energía Eficiente S.A. 124,797 100,424 24,373 328,840 325,794 3,046 Colombiana de Extrusión S.A. - Extrucol 112,151 63,795 48,356 183,121 167,562 15,559 Aerocali S.A. 92,950 44,172 48,778 254,751 209,945 44,806 ADL Digital Lab S.A.S. 71,577 35,602 35,975 74,645 63,492 11,153 Servicios de Identidad Digital S.A.S. 50,428 22,812 27,616 857 19,694 (18,837) Metrex S.A. 41,458 29,170 12,288 80,944 78,229 2,715 Ps. 13,551,590 Ps. 10,123,377 Ps. 3,428,213 Ps. 8,924,992 Ps. 7,874,084 Ps. 1,050,908 December 31, 2022 Assets Liabilities Equity Income Expenses Net income LTM Gas Natural de Lima y Callao S.A. - Cálidda Ps. 6,733,310 Ps. 4,832,852 Ps. 1,900,458 Ps. 3,459,381 Ps. 3,016,832 Ps. 442,549 Gases del Caribe S.A. E.S.P. 3,608,541 2,547,812 1,060,729 3,049,998 2,678,762 371,236 Credibanco S.A. 416,819 189,622 227,197 283,294 258,230 25,064 Redeban Multicolor S.A. 981,505 817,262 164,243 363,785 331,105 32,680 A.C.H Colombia S.A. 215,653 120,605 95,048 245,030 148,782 96,248 Aerocali S.A. 106,967 45,969 60,998 247,929 188,515 59,414 Colombiana de Extrusión S.A. - Extrucol 100,728 59,658 41,070 160,587 151,815 8,772 ADL Digital Lab S.A.S. 63,442 38,620 24,822 57,360 44,344 13,016 Servicios de Identidad Digital S.A.S. 25,995 4,846 21,149 754 22,101 (21,347) Energía Eficiente S.A. 106,493 80,168 26,325 271,988 267,999 3,989 Metrex S.A. 54,170 39,743 14,427 79,880 74,959 4,921 Concentra Inteligencia en Energía S.A.S. 1,987 253 1,734 1,138 1,912 (774) Ps. 12,415,610 Ps. 8,777,410 Ps. 3,638,200 Ps. 8,221,124 Ps. 7,185,356 Ps. 1,035,768 |
Disclosure of joint ventures [text block] | December 31, 2023 Assets Liabilities Equity Income Expenses Net income LTM Renting Automayor S.A. Ps. 120,113 Ps. 115,786 Ps. 4,327 Ps. 34,762 Ps. 38,774 Ps. (4,012) Ps. 120,113 Ps. 115,786 Ps. 4,327 Ps. 34,762 Ps. 38,774 Ps (4,012) December 31, 2022 Assets Liabilities Equity Income Expenses Net income LTM Renting Automayor S.A. Ps. 104,729 Ps. 96,345 Ps. 8,384 Ps. 8,473 Ps. 5,168 Ps. 3,305 Ps. 104,729 Ps. 96,345 Ps. 8,384 Ps. 8,473 Ps. 5,168 Ps 3,305 |
TANGIBLE ASSETS (Tables)
TANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of the movement of the carrying value amounts of tangible assets | The movement of the carrying value amounts of tangible assets for the years ended on December 31, 2023, 2022 and 2021 is as follows: Given in Right-of-use Investment operating Biological For own use (1) assets properties (2) leases assets Total Cost Balance as of January 1, 2021 Ps. 9,718,210 Ps. 2,721,904 Ps. 808,556 Ps. 16,105 Ps. 122,675 Ps. 13,387,450 Increase / (decrease) due to changes in the lease variables — 45,650 — — — 45,650 Purchases or capitalized expenses (3) 368,570 173,793 77,157 34,306 27,213 681,039 Withdrawals / Sales (224,241) (175,139) (93,845) — (23,448) (516,673) Changes in fair value — — 22,775 — 28,546 51,321 Revaluation of investment properties — — 7,991 — — 7,991 Transfers to/from non-current assets held for sale (1,861) — 22,847 — — 20,986 Reclassification BAC (4)(5) 503,724 44,454 — — — 548,178 Discontinued operations (4) (16,779) — — — — (16,779) Effect of movements in exchange rates 74,598 17,978 2,964 — — 95,540 Reclassifications (36,864) 11,162 4,490 (2,208) — (23,420) Given in Right-of-use Investment operating Biological For own use (1) assets properties (2) leases assets Total Balance as of December 31, 2021 Ps. 10,385,357 Ps. 2,839,802 Ps. 852,935 Ps. 48,203 Ps. 154,986 Ps. 14,281,283 Increase / (decrease) due to changes in the lease variables — 89,087 — — — 89,087 Purchases or capitalized expenses (3) 477,795 205,587 70,081 58,884 28,368 840,715 Withdrawals / Sales (6) (413,817) (152,284) (127,753) — (27,583) (721,437) Changes in fair value — — 55,930 — 56,859 112,789 Revaluation of investment properties — — 797 — — 797 Transfers to/from non-current assets held for sale (9,174) — 31,184 — — 22,010 Loss of control in subsidiary (4) (3,071,270) (928,279) — — — (3,999,549) Discontinued operations (4) (26,314) — — — — (26,314) Effect of movements in exchange rates 118,393 38,353 2,282 — — 159,028 Reclassifications (4,467) 3,573 (4,493) (6,287) — (11,674) Balance as of December 31, 2022 Ps. 7,456,503 Ps. 2,095,839 Ps. 880,963 Ps. 100,800 Ps. 212,630 Ps. 10,746,735 Increase / (decrease) due to changes in the lease variables — 636,227 — — — 636,227 Purchases or capitalized expenses (3) 561,009 236,652 56,307 30,587 26,118 910,673 Withdrawals / Sales (6) (544,864) (174,060) (200,670) (16) (26,677) (946,287) Changes in fair value — — 84,958 — 18,601 103,559 Revaluation of investment properties — — 557 — — 557 Transfers to/from non-current assets held for sale (189,295) — 95,593 — — (93,702) Loss of control in subsidiary (565) — — — — (565) Effect of movements in exchange rates (151,520) (39,001) (7,079) — — (197,600) Reclassifications (17,712) (504,889) (4,160) (2,290) — (529,051) Balance as of December 31, 2023 Ps. 7,113,556 Ps. 2,250,768 Ps. 906,469 Ps. 129,081 Ps. 230,672 Ps. 10,630,546 Given in Right-of-use Investment operating Biological Accumulated Depreciation: For own use (1) assets properties (2) leases assets Total Balance January 1, 2021 Ps. (3,715,017) Ps. (686,385) Ps. — Ps. (7,110) Ps. — (4,408,512) Depreciation of the year charged against profit or loss (321,527) (225,195) — (5,077) — (551,799) Withdrawals / Sales 117,844 107,225 — — — 225,069 Transfers to/from non-current assets held for sale 733 — — — — 733 Reclassification BAC (4)(5) (91,640) (4,635) — — — (96,275) Discontinued operations (4) (203,847) (116,023) — — — (319,870) Effect of movements in exchange rates (10,488) (1,120) — — — (11,608) Reclassification (1,667) (13,273) — 2,208 — (12,732) Balance December 31, 2021 Ps. (4,225,609) Ps. (939,406) Ps. — Ps. (9,979) Ps. — (5,174,994) Depreciation of the year charged against profit or loss (308,642) (236,587) — (14,646) — (559,875) Withdrawals / Sales (6) 183,180 84,643 — — — 267,823 Transfers to/from non-current assets held for sale 3,638 — — — — 3,638 Loss of control in subsidiary (4) 1,679,433 370,917 — — — 2,050,350 Discontinued operations (4) (29,380) (29,625) — — — (59,005) Effect of movements in exchange rates (18,418) (10,274) — — — (28,692) Reclassification (5,091) (5,913) — 6,212 — (4,792) Balance December 31, 2022 Ps. (2,720,889) Ps. (766,245) Ps. — Ps. (18,413) Ps. — (3,505,547) Depreciation of the year charged against profit or loss (289,999) (248,488) — (18,575) — (557,062) Withdrawals / Sales (6) 246,794 90,904 — 16 — 337,714 Transfers to/from non-current assets held for sale 57,298 — — — — 57,298 Loss of control in subsidiary 476 — — — — 476 Effect of movements in exchange rates 29,602 11,611 — — — 41,213 Reclassification (3,694) (1,593) — 2,290 — (2,997) Balance December 31, 2023 Ps. (2,680,412) Ps. (913,811) Ps. — Ps. (34,682) Ps. — Ps. (3,628,905) Given in Right-of-use Investment operating Biological Impairment losses: For own use (1) assets properties (2) leases assets Total Balance as of January 1, 2021 Ps. (4,902) Ps. — Ps. — Ps. (84) Ps. — Ps. (4,986) Year impairment charge (674) — — (72) — (746) Transfers to/from non-current assets held for sale 54 — — — — 54 Reclassification (58) — — — — (58) Balance as of December 31, 2021 Ps. (5,580) Ps. — Ps. — Ps. (156) Ps. — Ps. (5,736) Year impairment charge (997) — — (219) — (1,216) Withdrawals 1,205 — — — — 1,205 Balance as of December 31, 2022 Ps. (5,372) Ps. — Ps. — Ps. (375) Ps. — Ps. (5,747) Year impairment charge 31 — — (35) — (4) Balance as of December 31, 2023 Ps. (5,341) Ps. — Ps. — Ps. (410) Ps. — Ps. (5,751) Given in Right-of-use Investment operating Biological Tangible assets, net: For own use (1) assets properties (2) leases assets Total Balance as of December 31, 2021 Ps. 6,154,168 Ps. 1,900,396 Ps. 852,935 Ps. 38,068 Ps. 154,986 Ps. 9,100,553 Balance as of December 31, 2022 Ps. 4,730,242 Ps. 1,329,594 Ps. 880,963 Ps. 82,012 Ps. 212,630 Ps. 7,235,441 Balance as of December 31, 2023 Ps. 4,427,803 Ps. 1,336,957 Ps. 906,469 Ps. 93,989 Ps. 230,672 Ps. 6,995,890 (1) Only assets for own use different than assets given in operating lease are included. See note 15.4. (2) Cost is included at fair value. The total of purchases of investment properties, includes assets received in total or partial settlement of the payment obligations of debtors, at December 31, 2023 Ps. 56,144 ; Ps. 64,429 at December 31, 2022 and Ps. 75,788 at December 31, 2021. Includes at December 31, 2022 Ps. 5,652 by the recognition a new investment property in Corficolombiana and Ps. 493 at December 31, 2021 in Banco de Occidente. (3) The amount of purchases for own use assets include: (i) Capitalized expenses at December 31, 2023 for Ps. 802 , at December 31, 2022 for Ps. 2,113 and at December 31, 2021 for Ps. 6,152 ; (ii) Dismantling cost at December 31, 2023 for Ps. 1,723 , at December 31, 2022 for Ps. 666 , and at December 2021 for Ps. 1,189 ; and (iii) at December 31, 2022 an amount transferred from concessions arrangements as a result of the change in the conditions of the contracts by the grantor for Ps. 14,532 . (4) For 2021 and 2022, see note 1.1. "Discontinued operations of BAC Holding" for Ps. (1,899,743) , allocated as follows: Property, plant and equipment for Ps. (1,361,821) and assets for rights of use for Ps. (537,922) . (5) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. (6) Withdrawals or sales includes the de-recognition of the assets transferred to NEXUS Real Estate Capital Funds. For December 31, 2023 for own use assets the net values of the most significant disposals are: Banco de Bogotá by Ps. ( 25,400 ), Banco Popular by Ps. ( 114,771 ) and Banco Av Villas by Ps. ( 33,053 ); and for investments properties the net values of withdrawals correspond to: at December 31, 2023 Banco de Bogotá Ps. ( 41,412 ), Banco Popular Ps. ( 21,459 ) and Banco de Occidente Ps. ( 6,704 ). For December 31, 2022 for own use assets are: Banco de Bogotá by Ps. ( 68,530 ), Banco Av Villas by Ps. ( 36,319 ) and Banco Popular by Ps. ( 11,303 ) and for investments properties the net values of withdrawals correspond to: Banco de Bogotá Ps. ( 10,500 ), Banco Av. Villas Ps. ( 11,510 ) and Banco Popular Ps. ( 6,398 ). |
Schedule of right of use assets and tangible assets given in operating leases | The following tables shows the balance at December 31, 2023 and 2022, by type of asset: Accumulated Carrying December 31, 2023 Cost depreciation amount Land Ps. 41,973 Ps. (8,473) Ps. 33,500 Buildings 1,627,781 (600,942) 1,026,839 Office equipment and accessories 5,322 (2,400) 2,922 Information technology equipment 126,714 (81,493) 45,221 Vehicles 66,123 (35,235) 30,888 Equipment and machinery 223,434 (102,795) 120,639 Warehouses 159,421 (82,473) 76,948 Balance as of December 31, 2023 Ps. 2,250,768 Ps. (913,811) Ps. 1,336,957 Accumulated Carrying December 31, 2022 Cost depreciation amount Land Ps. 38,876 Ps. (6,880) Ps. 31,996 Buildings 1,526,488 (508,092) 1,018,396 Office equipment and accessories 1,882 (745) 1,137 Information technology equipment 122,098 (60,526) 61,572 Vehicles 57,038 (31,484) 25,554 Equipment and machinery 204,044 (91,097) 112,947 Warehouses 145,413 (67,421) 77,992 Balance as of December 31, 2022 Ps. 2,095,839 Ps. (766,245) Ps. 1,329,594 |
Schedule of investment properties | The following table summarizes investment properties as of December 31, 2023 and 2022: Accumulated adjustments Carrying December 31, 2023 Cost to fair value amount Land Ps. 301,519 Ps. 184,715 Ps. 486,234 Buildings 335,770 84,465 420,235 Balance as of December 31, 2023 Ps. 637,289 Ps. 269,180 Ps. 906,469 Accumulated adjustments Carrying December 31, 2022 Cost to fair value amount Land Ps. 346,398 Ps. 175,866 Ps. 522,264 Buildings 283,155 75,544 358,699 Balance as of December 31, 2022 Ps. 629,553 Ps. 251,410 Ps. 880,963 |
Schedule of amounts recognized in the Consolidated Statement of Income in relation to investments properties | The following amounts have been recognized in the Consolidated Statement of Income during the years ended on December 31, 2023, 2022 and 2021 in relation to investments properties: December 31, December 31, December 31, 2023 2022 2021 Income from rents Ps. 9,618 Ps. 11,930 Ps. 7,862 Direct operating expenses deriving from property investments which create income from rent (1,294) (919) (1,793) Direct operating expenses deriving from property investments which do not create income from rent (13,733) (6,852) (5,292) Ps. (5,409) Ps. 4,159 Ps. 777 |
Property, plant and equipment not subject to operating leases [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of the movement of the carrying value amounts of tangible assets | The following tables shows the balance as of December 31, 2023 and 2022, by type of asset: Accumulated Impairment Carrying December 31, 2023 Cost depreciation loss amount Land Ps. 766,013 Ps. — Ps. (1,865) Ps. 764,148 Buildings 1,703,700 (411,582) (3,151) 1,288,967 Office equipment and accessories 628,991 (480,429) (49) 148,513 Information technology equipment 1,465,341 (1,021,448) (58) 443,835 Vehicles 100,840 (80,863) — 19,977 Equipment and machinery 1,786,790 (526,930) (218) 1,259,642 Warehouses 17,769 (6,700) — 11,069 Improvements in leaseholds properties 202,886 (113,614) — 89,272 Construction in progress 149,480 — — 149,480 Bearer plants 291,746 (38,846) — 252,900 Balance as of December 31, 2023 Ps. 7,113,556 Ps. (2,680,412) Ps. (5,341) Ps. 4,427,803 Accumulated Impairment Carrying December 31, 2022 Cost depreciation loss amount Land Ps. 884,828 Ps. — Ps. (1,786) Ps. 883,042 Buildings 2,035,987 (468,445) (3,142) 1,564,400 Office equipment and accessories 632,318 (477,584) (29) 154,705 Information technology equipment 1,425,844 (1,033,280) (198) 392,366 Vehicles 99,156 (80,156) — 19,000 Equipment and machinery 1,690,012 (487,558) (217) 1,202,237 Silos 8,613 (6,827) — 1,786 Warehouses 64,091 (36,764) — 27,327 Improvements in leaseholds properties 198,725 (100,047) — 98,678 Construction in progress 143,250 — — 143,250 Bearer plants 273,679 (30,228) — 243,451 Balance as of December 31, 2022 Ps. 7,456,503 Ps. (2,720,889) Ps. (5,372) Ps. 4,730,242 |
Property, plant and equipment subject to operating leases [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of the movement of the carrying value amounts of tangible assets | The following tables shows the balance at December 31, 2023 and 2022, by type of asset: Accumulated Impairment Carrying December 31, 2023 Cost depreciation loss amount Computing equipment Ps. 45,873 Ps. (19,959) Ps. — Ps. 25,914 Vehicles 55,009 (9,335) — 45,674 Machinery and equipment 28,199 (5,388) (410) 22,401 Balance as of December 31, 2023 Ps. 129,081 Ps. (34,682) Ps. (410) Ps. 93,989 Accumulated Impairment Carrying December 31, 2022 Cost depreciation loss amount Computing equipment Ps. 47,094 Ps. (11,807) Ps. — Ps. 35,287 Vehicles 48,210 (4,240) — 43,970 Machinery and equipment 5,496 (2,366) (375) 2,755 Balance as of December 31, 2022 Ps. 100,800 Ps. (18,413) Ps. (375) Ps. 82,012 |
CONCESSION ARRANGEMENTS RIGHTS
CONCESSION ARRANGEMENTS RIGHTS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about service concession arrangements [abstract] | |
Schedule of balance of assets in concession arrangements | The following is the balance of the assets in concession arrangements registered in the Group as of December 31, 2023 and 2022: December 31, 2023 December 31, 2022 Financial assets at fair value Ps. 3,830,916 Ps. 3,507,231 Financial asset at amortized cost net (1) 13,981,904 12,645,785 Total financial assets in concession arrangements rights (2) Ps. 17,812,820 Ps. 16,153,016 Intangible assets 13,557,267 13,242,706 Total assets in concession arrangements rights Ps 31,370,087 Ps. 29,395,722 (1) As of December 31, 2023 and 2022, the balance of the financial asset at amortized cost includes an impairment expense of Ps. ( 223 ); Ps. ( 1,220 ) and Ps. ( 3,050 ) respectively, see note 16.1. (2) See note 12.1, “Contract assets”. |
Schedule of changes in financial assets in concession arrangements | Gas and Energy Infrastructure At fair value At amortized cost Total At amortized cost Total Balance as of January 1, 2021 Ps. 2,958,385 Ps. — Ps. 2,958,385 Ps. 6,769,123 Ps. 9,727,508 Additions or new concession arrangements (1) — — — 2,613,987 2,613,987 Collections during the year — — — (273,665) (273,665) Adjustment to fair value 270,095 — 270,095 — 270,095 Accrued interest — — — 746,657 746,657 Impairment expense — — — (3,050) (3,050) Balance as of December 31, 2021 Ps. 3,228,480 Ps. — Ps. 3,228,480 Ps. 9,853,052 Ps. 13,081,532 Additions or new concession arrangements (1) — 4,575 4,575 1,690,450 1,695,025 Collections during the year — — — (732,647) (732,647) Adjustment to fair value 278,751 — 278,751 — 278,751 Accrued interest — — — 1,831,326 1,831,326 Impairment expense — — — (1,220) (1,220) Effect of movements in exchange rates — 249 249 — 249 Balance as of December 31, 2022 Ps. 3,507,231 Ps. 4,824 Ps. 3,512,055 Ps. 12,640,961 Ps. 16,153,016 Additions or new concession arrangements (1) — 118,109 118,109 877,884 995,993 Collections during the year — — — (1,144,396) (1,144,396) Adjustment to fair value 323,685 — 323,685 — 323,685 Accrued interest — — — 1,493,115 1,493,115 Impairment expense — — — (223) (223) Effect of movements in exchange rates — (8,370) (8,370) — (8,370) Balance as of December 31, 2023 Ps. 3,830,916 Ps. 114,563 Ps. 3,945,479 Ps. 13,867,341 Ps. 17,812,820 (1) Includes work progress on the Covioriente and Covipacífico concessions; as of December 31, 2023 Ps. 715,573 and Ps. 130,105 respectively; as of December 31, 2022 Ps. 1,043,138 and Ps. 621,988 respectively and as of December 31, 2021 Ps. 1,264,543 and Ps. 1,306,580 respectively. |
Schedule of movements of the main concession arrangements under intangible assets | The following table shows the movements of the main concession arrangements in Grupo Aval’s subsidiaries under intangible assets during years ended at December 31, 2023, 2022 and 2021: Cost Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. 4,654,890 Ps. 5,495,855 Ps. 10,150,745 Additions (1) 982,508 922,203 1,904,711 Reclassification to / from PPE 20,301 — 20,301 Transfer to non-current assets held for sale 2,516 — 2,516 Withdrawals (5,104) — (5,104) Effect of movements in exchange rates 238,721 — 238,721 Balance as of December 31, 2021 Ps. 5,893,832 Ps. 6,418,058 Ps. 12,311,890 Additions (1) 809,085 1,103,283 1,912,368 Reclassification to / from PPE 113 — 113 Withdrawals (11,724) — (11,724) Effect of movements in exchange rates 547,529 — 547,529 Balance as of December 31, 2022 Ps. 7,238,835 Ps. 7,521,341 Ps. 14,760,176 Additions (1) 588,454 714,489 1,302,943 Reclassification to / from PPE 229 4,041 4,270 Withdrawals (6,489) — (6,489) Effect of movements in exchange rates (712,856) — (712,856) Balance as of December 31, 2023 Ps. 7,108,173 Ps. 8,239,871 Ps. 15,348,044 Accumulated Amortization Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. (821,017) Ps. (136,926) Ps. (957,943) Amortization of the year (222,894) (9,921) (232,815) Reclassification to / from PPE 45 — 45 Withdrawals 1,236 — 1,236 Effect of movements in exchange rates (12,895) — (12,895) Balance as of December 31, 2021 Ps. (1,055,525) Ps. (146,847) Ps. (1,202,372) Amortization of the year (253,692) (19,016) (272,708) Withdrawals 835 — 835 Effect of movements in exchange rates (30,801) — (30,801) Balance as of December 31, 2022 Ps. (1,339,183) Ps. (165,863) Ps. (1,505,046) Amortization of the year (277,702) (39,385) (317,087) Reclassification to / from PPE — (2,184) (2,184) Withdrawals 289 — 289 Effect of movements in exchange rates 41,062 — 41,062 Balance as of December 31, 2023 Ps. (1,575,534) Ps. (207,432) Ps. (1,782,966) Impairment loss Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. (2,296) Ps. (2,942) Ps. (5,238) Period impairment charge (4,850) (1,314) (6,164) Balance as of December 31, 2021 Ps. (7,146) Ps. (4,256) Ps. (11,402) Period impairment charge (665) (357) (1,022) Balance as of December 31, 2022 Ps. (7,811) Ps. (4,613) Ps. (12,424) Period impairment charge — 4,613 4,613 Balance as of December 31, 2023 Ps. (7,811) Ps. — Ps. (7,811) Total Intangible Assets Gas and energy Infrastructure Total Balance as of January 1, 2021 Ps. 3,831,577 Ps. 5,355,987 Ps. 9,187,564 Cost 1,238,942 922,203 2,161,145 Amortization (234,508) (9,921) (244,429) Impairment loss (4,850) (1,314) (6,164) Balance as of December 31, 2021 (2) Ps. 4,831,161 Ps. 6,266,955 Ps. 11,098,116 Cost 1,345,003 1,103,283 2,448,286 Amortization (283,658) (19,016) (302,674) Impairment loss (665) (357) (1,022) Balance as of December 31, 2022 (2) Ps. 5,891,841 Ps. 7,350,865 Ps. 13,242,706 Cost (130,662) 718,530 587,868 Amortization (236,351) (41,569) (277,920) Impairment loss — 4,613 4,613 Balance as of December 31, 2023 (2) Ps. 5,524,828 Ps. 8,032,439 Ps. 13,557,267 (1) Gas and Energy, includes borrowing costs capitalized for Ps. 31,672 as of December 31, 2023; Ps. 26,134 as of December 31, 2022 and Ps. 13,856 as of December 31, 2021 with a capitalized interest rate (weighted average) of 12.17% , 8.98% and 5.39% respectively. (2) Includes intangible assets derived from concession contracts in construction phase for Infrastructure and Gas and Energy by Ps. 7,833,886 and Ps. 130,936 as of December 31, 2023 respectively; Ps. 7,136,073 and Ps. 193,627 as of December 31, 2022 respectively; and Ps. 6,266,955 and Ps. 669,540 as of December 31, 2021 respectively. |
Schedule of main concession contracts granted | The following is a summary of the main concession contracts granted to Grupo Aval’s subsidiaries as of December 31, 2023: Year of Concession Contract construction % progress Concession Owner Recognition Business and country Objective Current stage date start of construction end date Gas and Energy Surtigas S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Purchase, storage, packaging and distribution of gases derived from hydrocarbons. Operation 03/1984 to 04/1994 1984 100 % 2034 to 2045 Transmetano E.S.P. S.A. Fair value / Intangible assets Gas and Energy Colombia Construction, operation and maintenance of gas transportation systems. Operation 08/1994 1996 100 % 2044 Promigas S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Purchase, sale, transportation, distribution, exploitation and exploration of natural gas, oil and hydrocarbons in general. Operation 05/1976 to 11/1994 1976 100 % 2026 to 2044 Promioriente S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Construction, operation and maintenance of gas pipelines. Operation 09/1995 1995 100 % 2045 Gases de Occidente S.A. E.S.P. Fair value / Intangible assets Gas and Energy Colombia Transportation and distribution of liquefied petroleum gas and natural gas. Operation 08/1998 1998 100 % 2047 Compañía Energética de Occidente S.A. E.S.P. (1) Intangible assets Gas and Energy Colombia Administrative, operational, technical and commercial management for the provision of electrical energy. Operation and maintenance 01/2010 2010 100 % 2035 Sociedad Portuaria El Cayao S.A. E.S.P. Intangible assets Gas and Energy Colombia Construction, maintenance and administration of ports. Operation 07/2015 2015 100 % 2035 Gases del Pacífico S.A.C. Amortized cost / Intangible assets Gas and Energy Perú Purchase, sale, production, commercialization of energy in any of its forms. Operation 10/2013 2015 100 % 2034 Gases del Norte del Perú S.A.C. Amortized cost / Intangible assets Gas and Energy Perú Construction and distribution service of natural gas. Construction and Operation 11/2019 2020 85.84 % 2051 Infrastructure Proyectos de Infraestructura S.A. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 12/1993 1994 100 % 2033 Concesiones CCFC S.A.S. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 06/1995 2001 100 % 2024 Concesionaria Panamericana S.A.S. Amortized cost / Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation 12/1997 2009 100 % 2035 Year of Concession Contract construction % progress Concession Owner Recognition Business and country Objective Current stage date start of construction end date Concesionaria Vial del Pacífico S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 09/2014 2018 95.93 % 2043 Concesionaria Nueva Vía del Mar S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Preconstruction 01/2015 2024 4.11 % 2044 Concesionaria Vial Andina S.A.S. Intangible assets Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Operation and maintenance 06/2015 2016 100 % 2054 Concesionaria Vial Del Oriente S.A.S. Amortized cost Infrastructure Colombia Design, construction, equipment, conservation, operation and maintenance of road infrastructure. Construction 07/2015 2018 92.41 % 2043 (1) The concession has an investment commitment for the expansion, replacement and improvement of the infrastructure which as of December 2023 has an advance of 54.33%. |
GOODWILL (Tables)
GOODWILL (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Schedule of movement of the goodwill | December 31, 2023 December 31, 2022 Balance at the beginning of the year Ps. 2,248,217 Ps. 8,486,560 Impairment charge (10,000) (12,257) Loss of control in subsidiary (1) — (5,902,410) Effect of movements in exchange rates (2)(3) (35,995) (323,676) Balance at the end of the year Ps. 2,202,222 Ps. 2,248,217 (1) See note 1.1. (A), "Discontinued operations of BAC Holding". (2) The foreign exchange adjustment is attributable to Multifinancial Group Inc. for Ps. (35,995) in 2023 and Ps. 30,200 in 2022. (3) Includes the effect of exchange rates for the discontinued operation of BAC Holding International Corp. for Ps. (353,876) in 2022. |
Schedule of goodwill assigned per Cash Generating Units (CGU) | Goodwill carrying amount December 31, December 31, CGU 2023 2022 Sociedad Administradora de Pensiones y Cesantías Porvenir S.A. Ps. 538,231 Ps. 538,231 Banco de Bogotá S.A. over Megabanco (1) 465,905 465,905 Banco Popular S.A. 358,401 358,401 Banco de Bogotá S.A. 301,222 301,222 Banco de Bogotá S.A. over Multi Financial Group Inc. (2) 139,226 175,221 Promigas S.A. and Subsidiaries 169,687 169,687 Banco de Occidente S.A. 127,571 127,571 Concesionaria Panamericana S.A.S. 72,594 82,594 Banco de Occidente S.A. over Banco Unión (1) 22,724 22,724 Hoteles Estelar S.A. 6,661 6,661 Ps. 2,202,222 Ps. 2,248,217 (1) G ood will recognized as a result of mergers between Banco de Bogotá with Megabanco and Banco de Occidente with Banco Unión. (2) The variation presented corresponds to the foreign exchange adjustment attributable to Multi Financial Group Inc. |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Summary of main assumptions used in the impairment test reports taken as the basis for impairment testing | December 31, 2023 2024 2025 2026 2027 2028 Interest rate on investments 8.3 % 6.4 % 6.2 % 6.1 % 6.0 % Borrowing rate 5.8 % 5.8 % 5.8 % 5.8 % 5.8 % Growth in income from commissions 0.8 % 48.5 % 3.3 % 4.9 % 6.1 % Growth in expenses 7.7 % 12.4 % 7.1 % 5.4 % 5.0 % Inflation 5.8 % 3.5 % 3.2 % 3.1 % 3.1 % Discount interest rate after taxes 14.2 % 11.5 % 10.2 % 9.1 % 9.1 % Growth rate after thirteen years 3.1 % December 31, 2022 2023 2024 2025 2026 2027 Interest rate on investments 7.7 % 4.5 % 4.9 % 4.9 % 4.9 % Borrowing rate 5.8 % 5.8 % 5.8 % 5.8 % 5.8 % Growth in income from commissions (6.4) % 55.6 % 2.5 % 2.3 % 4.6 % Growth in expenses (5.3) % 11.4 % 7.2 % 4.9 % 4.5 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount interest rate after taxes 14.4 % 9.5 % 9.0 % 8.2 % 8.1 % Growth rate after thirteen years 2.9 % |
Banco de Bogota S.A. over Megabanco | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill | December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.1 % 10.8 % 10.2 % 10.0 % 9.8 % Borrowing rate 7.1 % 5.5 % 4.9 % 4.7 % 4.5 % Growth in income from commissions 16.0 % 14.7 % 14.1 % 11.3 % 11.2 % Growth in expenses 11.7 % 8.3 % 7.9 % 6.2 % 5.6 % Inflation 5.8 % 3.5 % 3.2 % 3.1 % 3.1 % Discount rate after taxes 16.5 % 13.7 % 12.4 % 11.3 % 11.6 % Growth rate after five years 6.5 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.3 % 11.2 % 10.5 % 10.4 % 10.2 % Borrowing rate 6.9 % 5.4 % 4.6 % 4.5 % 4.5 % Growth in income from commissions 15.4 % 10.8 % 14.9 % 15.3 % 15.3 % Growth in expenses 14.6 % 8.2 % 8.2 % 8.2 % 8.2 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % |
Banco Popular S.A. | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill | December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.5 % 12.3 % 12.0 % 11.6 % 10.9 % Borrowing rate 8.2 % 6.1 % 5.2 % 4.7 % 4.1 % Growth in income from commissions 6.8 % 3.4 % 16.5 % 6.8 % 6.5 % Growth in expenses 8.3 % (13.2) % 1.5 % 7.7 % 7.5 % Inflation 7.2 % 3.8 % 3.0 % 3.0 % 3.0 % Discount rate after taxes 17.3 % 13.6 % 12.0 % 11.4 % 11.6 % Growth rate after five years 6.0 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.9 % 12.6 % 10.9 % 10.9 % 10.9 % Borrowing rate 9.2 % 7.4 % 5.8 % 5.2 % 4.8 % Growth in income from commissions 6.1 % 11.4 % 16.7 % 11.3 % 8.4 % Growth in expenses 13.2 % 6.6 % 7.5 % 7.6 % 6.8 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % |
Banco de Bogota S.A. | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill | December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 12.9 % 11.2 % 10.5 % 10.3 % 10.1 % Borrowing rate 7.2 % 5.6 % 4.9 % 4.7 % 4.6 % Growth in income from commissions (3.4) % 14.2 % 14.3 % 11.7 % 11.0 % Growth in expenses 9.5 % 8.7 % 8.4 % 6.9 % 5.1 % Inflation 7.2 % 3.8 % 3.0 % 3.0 % 3.0 % Discount rate after taxes 17.3 % 13.6 % 12.1 % 11.4 % 11.7 % Growth rate after five years 6.0 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 12.9 % 11.7 % 11.0 % 10.8 % 10.6 % Borrowing rate 6.9 % 5.3 % 4.6 % 4.6 % 4.5 % Growth in income from commissions 16.7 % 11.5 % 13.8 % 14.4 % 13.7 % Growth in expenses 15.9 % 9.8 % 9.8 % 9.7 % 6.0 % Inflation 7.4 % 2.7 % 2.9 % 2.9 % 2.9 % Discount rate after taxes 17.6 % 12.6 % 11.8 % 10.9 % 10.7 % Growth rate after five years 6.4 % |
Multi Financial Group Inc [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Schedule of main assumptions used in the latest impairment tests of the groups of cash-generating units with allocated goodwill | December 31, 2023 2024 2025 2026 2027 2028 Lending rate on the loan portfolio and investments 6.9 % 6.9 % 6.9 % 6.9 % 6.9 % Borrowing rate 4.8 % 4.4 % 4.3 % 4.2 % 4.2 % Growth in income from commissions (22.0) % 8.6 % 12.6 % 11.7 % 11.9 % Growth in expenses (1.6) % 2.1 % 1.4 % 2.6 % 3.0 % Discount rate after taxes 11.3 % Growth rate after ten years 5.6 % December 31, 2022 2023 2024 2025 2026 2027 Lending rate on the loan portfolio and investments 6.4 % 6.6 % 6.8 % 6.9 % 7.0 % Borrowing rate 4.0 % 4.0 % 4.0 % 4.1 % 4.1 % Growth in income from commissions 9.4 % 7.2 % 8.9 % 9.4 % 8.7 % Growth in expenses 4.5 % 3.0 % 2.8 % 1.9 % 3.1 % Discount rate after taxes 10.6 % Growth rate after ten years 4.0 % |
OTHER INTANGIBLE ASSETS (Tables
OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets other than goodwill [abstract] | |
Disclosure of detailed information about other intangible assets | The following table shows the movements of the other intangible assets during years ended on December 31, 2023, 2022 and 2021: Internally generated Separate Developing In use acquisition Total Balance as of January 1, 2021 Ps. 473,204 Ps. 227,555 Ps. 922,911 Ps. 1,623,670 Capitalizations / Acquisitions / Purchases 376,344 — 106,184 482,528 Amortization — (44,916) (192,712) (237,628) Impairment loss — — (3,000) (3,000) Transfers (290,425) 197,235 93,190 — Withdrawals (9,962) (918) (7,826) (18,706) Discontinued operations (1) 13,538 — (90,873) (77,335) Reclassification BAC (2) — — 93,639 93,639 Effect of movements in exchange rates 562 — 22,312 22,874 Balance as of December 31, 2021 Ps. 563,261 Ps. 378,956 Ps. 943,825 Ps. 1,886,042 Capitalizations / Acquisitions / Purchases 494,055 — 105,623 599,678 Amortization — (70,538) (187,379) (257,917) Transfers (252,193) 155,588 96,605 — Withdrawals (3,619) (46) (1,335) (5,000) Discontinued operations (1) — — (23,239) (23,239) Reclassification BAC (2) (13,538) — (177,432) (190,970) Effect of movements in exchange rates 1,720 — 29,844 31,564 Balance as of December 31, 2022 Ps. 789,686 Ps. 463,960 Ps. 786,512 Ps. 2,040,158 Capitalizations / Acquisitions / Purchases 629,807 — 52,889 682,696 Amortization — (89,949) (187,073) (277,022) Transfers (191,381) 111,365 80,016 — Withdrawals (11,244) — (1,962) (13,206) Arrangement of entities (3) (14,333) — (459) (14,792) Effect of movements in exchange rates (1,092) — (34,315) (35,407) Balance as of December 31, 2023 Ps. 1,201,443 Ps. 485,376 Ps. 695,608 Ps. 2,382,427 (1) See note 1.1 “Discontinued operations of BAC Holding”. (2) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. (3) Includes the sale of Peajes Electrónicos . |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of income tax [abstract] | |
Schedule components of the income tax expense | The income tax expense for the years ended on December 31, 2023, 2022 and 2021 comprises the following: December 31, December 31, December 31, 2023 2022 2021 Current period income tax Ps. 1,017,411 Ps. 822,758 Ps. 1,075,407 Income tax surcharge 27,627 15,625 60,730 Subtotal current period taxes Ps. 1,045,038 Ps. 838,383 Ps. 1,136,137 Prior years adjustments (20,491) (35,553) (102,937) Adjustment due to settlement of uncertain tax positions from prior years (772) (6,802) (933) Deferred taxes Deferred taxes current period 286,824 1,467,519 1,256,588 Deferred taxes - Prior years adjustments (165) 7,857 34,573 Subtotal deferred taxes Ps. 286,659 Ps. 1,475,376 Ps. 1,291,161 Total continued operations Ps. 1,310,434 Ps. 2,271,404 Ps. 2,323,428 |
Schedule of reconciliation between total expenses of the income tax calculated at the applicable enacted tax rate and the tax expense recognized in the statement of income | Years ended on: December 31, December 31, December 31, 2023 2022 2021 Profit before income tax Ps. 3,487,550 Ps. 6,274,371 Ps. 6,364,618 Enacted tax rate in Colombia 40 % 38 % 34 % Theoretical income tax expense 1,395,020 2,384,261 2,163,970 Nondeductible expenses 872,723 465,986 378,301 Tax losses considered non recoverable for income tax purpose (1) 71,741 192,470 9,480 Presumptive income considered non recoverable for income tax purpose (23) (7,666) (7,845) Nontaxable dividends (47,242) (40,420) (51,334) Nontaxable income under equity method in associates (150,626) (141,655) (111,736) Profit (loss) on sales or appraisal of investment (5,009) (439) (695) Nontaxable interest income and other income (274,758) (281,715) (133,711) Other nontaxable income (182,121) (578,592) (283,755) Non-accountable tax revenues in Sale of BHI 114,201 543,879 — Revenues taxable at different tax rate 47,139 9,218 1,453 Tax benefits in the acquisition of property and equipment (32,493) (34,018) (22,431) Tax Discounts (25,086) (80,804) (91,829) Profits (losses) in Subsidiaries in tax free countries or with different tax rate (246,999) (188,701) (55,366) Effect on the deferred income tax due to changes in tax rates (2) (176,764) 56,129 587,939 Prior year adjustments (20,491) (35,553) (102,937) Adjustments due to uncertain tax positions in previous year (772) (6,802) (933) Deferred taxes - Prior years adjustments (165) 7,857 34,573 With holding tax 9,479 654 4,399 Other (37,320) 7,315 5,885 Total tax expense of the year Ps. 1,310,434 Ps. 2,271,404 Ps. 2,323,428 Effective income tax rate 37.57 % 36.20 % 36.51 % (1) Corficolombiana and its subsidiaries recorded tax losses on which no deferred tax asset was recorded for Ps. 71,741 in 2023, Ps. 192,470 in 2022 and 9,480 in 2021, because there is no certainty of their recoverability in the future. (2) In 2023 corresponds to the effect of the difference between the rate applied in the calculation of the deferred tax and the statutory rate for the period. The greatest impact is mainly recorded by Corficolombiana with Ps. 87,085 , explained by the recalculation of the deferred tax liability of the concessions, Banco Popular for Ps. 57,700 , explained by the calculation of the deferred tax at the 35% rate, Banco Occidente for Ps. 36,523 , explained by the differences in rates of its subsidiaries Nexa and Barbados and other entities for Ps (4,544) . In 2021 corresponds to the effect of the difference in rate applied by entities with respect to the statutory rate of 36% . Banco Bogotá records an effect of Ps. 262,901 explained by the differential rates of BAC Holding and subsidiaries. Corficolombiana records an effect of Ps. 133,329 explained by their subsidiaries that are not subject to the 4% income tax surcharge rate. Other entities contribute Ps. 7,611 . |
Schedule of tax loss carry forward and excess of presumptive income over taxable income of the entities which are not recognized as deferred tax assets | December 31, December 31, 2023 2022 Tax loss carry forwards expiring on: December 31, 2023 Ps. — Ps. 1,323 December 31, 2024 4,902 4,846 December 31, 2025 2,179 2,748 December 31, 2026 5,908 40 December 31, 2029 173,448 170,835 December 31, 2030 289,982 279,605 December 31, 2031 248,444 215,970 December 31, 2032 169,572 15,799 December 31, 2033 37,969 6,931 December 31, 2034 262,578 516,801 December 31, 2035 383,897 122 Without expiration date 414,318 414,234 Subtotal Ps. 1,993,196 Ps. 1,629,254 Excess of presumptive income expiring on: December 31, 2023 Ps. — Ps. 44,246 December 31, 2024 26,883 24,492 December 31, 2025 7,642 6,791 Subtotal Ps. 34,525 Ps. 75,529 Total Ps. 2,027,721 Ps. 1,704,783 |
Schedule of carrying value of the assets and liabilities and their tax bases give rise to the following temporary differences which result in deferred taxes | Year ended on December 31, 2023 Balance as of Credited Credited Foreign exchange Balance as of January 1, (charged) to (charged) to adjustments December 31, 2023 profit or loss OCI 2023 Deferred tax assets Debt securities at fair value Ps. 857,505 Ps. (64,839) Ps. (520,770) Ps. (252) Ps. 271,644 Equity securities at fair value 165 1,245 — — 1,410 Derivative instruments 452,394 674,733 9,793 3,001 1,139,921 Allowance of investments securities 1,468 (1,468) — — — Accounts receivable 258,765 (168,647) — (52) 90,066 Allowance for accounts receivable 80,839 (71,334) — 342 9,847 Loans and receivables 905 3,674 — (9) 4,570 Allowance for impairment on loans and receivables 292,841 (33,103) — (40,463) 219,275 Allowance for foreclosed assets 8,750 (3,216) — (1,054) 4,480 Property, plant and equipment costs 349,485 121,098 — (96) 470,487 Depreciation of property, plant and equipment 18,018 (39,387) — 44,879 23,510 Investment property 31,061 (31,061) — — — Deferred charges and of intangible assets 237,436 61,968 — 29 299,433 Tax losses carry forward 272,020 778,311 — 5,049 1,055,380 Surplus of presumptive income 18,350 (16,044) — — 2,306 Provisions 326,889 23,237 — (14,532) 335,594 Employee benefits 73,732 (25,676) 14,386 (737) 61,705 Financial assets in concession contracts 1,585,925 (333,025) — (10,059) 1,242,841 Biological assets 167 (17) — — 150 Lease agreements 619,032 16,044 — (15,625) 619,451 Foreign currency bonds 1,421,540 (620,538) (273,608) — 527,394 Foreign currency financial liabilities 365,565 (365,565) — — — Other 396,367 (71,664) (89,171) 27,825 263,357 Subtotal Ps. 7,669,219 Ps. (165,274) Ps. (859,370) Ps. (1,754) Ps. 6,642,821 Deferred tax liabilities Debt securities at fair value Ps. (3,568) Ps. (5,673) Ps. (5,346) Ps. 77 Ps. (14,510) Equity securities at fair value (172,559) (32,989) 3,542 (175) (202,181) Derivative instruments (663,726) 8,847 — (438) (655,317) Accounts receivable (257,754) 225,450 — (25) (32,329) Allowance of investments securities (2,577) 2,155 — — (422) Loans and receivables (37,469) 12,636 — — (24,833) Allowance for impairment on loans and receivables (700,024) 29,937 — 13,931 (656,156) Foreclosed assets (75,396) 25,870 — — (49,526) Property plant and equipment costs (234,385) 4,968 1,051 1,748 (226,618) Depreciation of property, plant and equipment (462,695) (27,481) — 1,080 (489,096) Investment property (97,608) 51,362 — 112 (46,134) Right-of-use (314,062) 35,513 — 2,125 (276,424) Deferred charges and of intangible assets (326,052) (94,613) — 2,885 (417,780) Provisions (3,474) (619) — 433 (3,660) Employee benefits (24,321) 23,050 710 114 (447) Goodwill (326,661) — — — (326,661) Deferred Income (1,027,577) (281,375) — — (1,308,952) Financial assets in concession arrangements (197,679) (6,957) — — (204,636) Intangible assets in concession arrangements (5,348,922) 140,818 — 32,807 (5,175,297) Biological assets (63,378) (5,373) — — (68,751) Lease agreements (346,541) (35,077) — — (381,618) Foreign currency financial liabilities — (312,319) 45,229 — (267,090) Other (194,243) 120,485 33 (6,386) (80,111) Subtotal Ps. (10,880,671) Ps. (121,385) Ps. 45,219 Ps. 48,288 Ps. (10,908,549) Total Ps. (3,211,452) Ps. (286,659) Ps. (814,151) Ps. 46,534 Ps. (4,265,728) Year ended on December 31, 2022 Balance as of Credited Credited Foreign Balance as of January 1, Loss of control Discontinued (charged) to (charged) to exchange December 31, 2022 in a Subsidiary (1) operations (1) profit or loss OCI adjustments 2022 Deferred tax assets Debt securities at fair value Ps. 385,338 Ps. (73,729) Ps. 6,567 Ps. 4,195 Ps. 537,052 Ps. (1,918) Ps. 857,505 Equity securities at fair value 1,028 — — (4,371) 3,508 — 165 Derivative instruments 699,311 818,130 — (296,033) (768,615) (399) 452,394 Allowance of investments securities 1,155 — — 313 — — 1,468 Accounts receivable 146,496 — — 111,687 — 582 258,765 Allowance for accounts receivable 59,604 — — 20,489 — 746 80,839 Loans and receivables 1,157 — — (252) — — 905 Allowance for impairment on loans and receivables 562,730 (303,273) 2,425 (3,091) 18,952 15,098 292,841 Allowance for foreclosed assets 21,082 (13,173) 556 (170) — 455 8,750 Property, plant and equipment costs 339,049 — — (30,500) — 40,936 349,485 Depreciation of property, plant and equipment 34,614 — — (16,022) — (574) 18,018 Investment property 30,021 — — 1,323 (283) — 31,061 Deferred charges and of intangible assets 243,170 — — (5,734) — — 237,436 Tax losses carry forward 117,025 — — 142,435 — 12,560 272,020 Surplus of presumptive income 4,351 — — 13,876 — 123 18,350 Provisions 324,063 (28,108) (1,779) 32,570 — 143 326,889 Employee benefits 102,662 (11,440) (1,736) 15,523 (29,818) (1,459) 73,732 Financial assets in concession contracts 1,368,490 — — 217,435 — — 1,585,925 Biological assets 101 — — 66 — — 167 Lease agreements 693,388 (151,767) (2,301) 83,544 — (3,832) 619,032 Foreign currency bonds 720,109 1,005,896 — 378,971 (683,436) — 1,421,540 Foreign currency financial liabilities 83,072 — — 282,493 — — 365,565 Other 233,775 — — 137,533 21,482 3,577 396,367 Subtotal Ps. 6,171,791 Ps. 1,242,536 Ps. 3,732 Ps. 1,086,280 Ps. (901,158) Ps. 66,038 Ps. 7,669,219 Deferred tax liabilities Debt securities at fair value Ps. (73,895) Ps. 103,081 Ps. (7,060) Ps. (24,749) Ps. 22 Ps. (967) Ps. (3,568) Equity securities at fair value (253,422) 135,876 5,910 (26,573) (42,746) 8,396 (172,559) Derivative instruments (32,668) — — (631,300) 286 (44) (663,726) Accounts receivable (177,642) — — (80,114) — 2 (257,754) Allowance of investments securities (1,421) — (7,772) 6,616 — — (2,577) Loans and receivables (29,531) — — (7,938) — — (37,469) Allowance for impairment on loans and receivables (612,925) 112,665 — (199,764) — — (700,024) Foreclosed assets (65,167) — — (10,229) — — (75,396) Provision for foreclosed assets (16,521) 12,817 2,619 1 — 1,084 — Property plant and equipment costs (283,593) 60,039 1,942 (10,472) — (2,301) (234,385) Depreciation of property, plant and equipment (410,226) — — (49,811) — (2,658) (462,695) Investment property (96,342) — — (330) (863) (73) (97,608) Right-of-use (437,169) 133,232 1,586 (19,367) — 7,656 (314,062) Deferred charges and of intangible assets (320,906) 315 (3) (1,838) — (3,620) (326,052) Provisions (16,542) 11,252 1,231 1,315 — (730) (3,474) Employee benefits (41,367) 39,124 (1,578) (22,395) (550) 2,445 (24,321) Goodwill (327,070) — — 409 — — (326,661) Deferred Income (917,159) — — (110,418) — — (1,027,577) Financial assets in concession arrangements (175,332) — — 31,036 — (53,383) (197,679) Intangible assets in concession arrangements (3,994,977) — — (1,292,165) — (61,780) (5,348,922) Biological assets (45,827) — — (17,551) — — (63,378) Lease agreements (317,539) — — (28,992) — (10) (346,541) Other (91,651) (26,045) (3,680) (67,027) (10,521) 4,681 (194,243) Subtotal Ps. (8,738,892) Ps. 582,356 Ps. (6,805) Ps. (2,561,656) Ps. (54,372) Ps. (101,302) Ps. (10,880,671) Total Ps. (2,567,101) Ps. 1,824,892 Ps. (3,073) Ps. (1,475,376) Ps. (955,530) Ps. (35,264) Ps. (3,211,452) Year ended on December 31, 2021 Balance as of Credited Credited Balance as of January 1, Business (charged) to (charged) to Foreign exchange December 31, 2021 combination (1) profit or loss OCI adjustments 2021 Deferred tax assets Debt securities at fair value Ps. 28,230 Ps. (9,022) Ps. 30,408 Ps. 350,014 Ps. (14,292) Ps. 385,338 Equity securities at fair value 275 — 753 — — 1,028 Derivative instruments 609,930 — (216,846) 308,831 (2,604) 699,311 Allowance of investments securities 562 — 593 — — 1,155 Accounts receivable 45,324 — 101,221 — (49) 146,496 Allowance for accounts receivable 47,181 — 12,423 — — 59,604 Loans and receivables 3,623 — (29) — (2,437) 1,157 Allowance for impairment on loans and receivables 448,793 (22,037) 76,976 — 58,998 562,730 Allowance for foreclosed assets 10,169 9,977 (1,219) — 2,155 21,082 Property, plant and equipment costs 323,544 — 15,505 — — 339,049 Depreciation of property, plant and equipment 32,154 — 2,401 — 59 34,614 Investment property 25,461 — 4,481 79 — 30,021 Deferred charges and of intangible assets 214,669 — 28,501 — — 243,170 Tax losses carry forward 86,558 (52) 39,001 — (8,482) 117,025 Surplus of presumptive income 6,071 — (1,720) — — 4,351 Provisions 220,822 2,465 96,428 — 4,348 324,063 Employee benefits 123,700 2,509 (6,884) (19,635) 2,972 102,662 Goodwill 423 — (423) — — — Financial assets in concession contracts 884,158 — 484,332 — — 1,368,490 Biological assets 104 — (3) — — 101 Lease agreements 609,701 (58,498) 114,505 — 27,680 693,388 Foreign currency bonds 267,668 — 29,792 422,649 — 720,109 Foreign currency financial liabilities — — 83,072 — — 83,072 Other 177,040 (5,559) 79,690 18,608 (36,004) 233,775 Subtotal Ps. 4,166,160 Ps. (80,217) Ps. 972,958 Ps. 1,080,546 Ps. 32,344 Ps. 6,171,791 Deferred tax liabilities Debt securities at fair value Ps. (111,742) Ps. 11,417 Ps. (2,155) Ps. (3,767) Ps. 32,352 Ps. (73,895) Equity securities at fair value (203,826) (30,213) 12,776 (20,075) (12,084) (253,422) Derivative instruments (13,194) — (15,724) (3,722) (28) (32,668) Accounts receivable (115,071) — (62,571) — — (177,642) Allowance of investments securities (1,805) — 384 — — (1,421) Loans and receivables (27,042) — (2,489) — — (29,531) Allowance for impairment on loans and receivables (399,561) 39,495 (233,328) — (19,531) (612,925) Foreclosed assets (60,161) — (5,006) — — (65,167) Provision for foreclosed assets (10,388) (4,206) — — (1,927) (16,521) Property plant and equipment costs (270,327) 1,287 (4,747) — (9,806) (283,593) Depreciation of property, plant and equipment (338,964) — (71,262) — — (410,226) Investment property (79,571) — (16,694) — (77) (96,342) Right-of-use (422,659) 55,215 (53,689) — (16,036) (437,169) Deferred charges and of intangible assets (263,802) (1,689) (51,826) — (3,589) (320,906) Provisions (21,766) 6,059 1,503 — (2,338) (16,542) Employee benefits (30,851) (9,143) 200 3,686 (5,259) (41,367) Goodwill (253,223) — (73,847) — — (327,070) Deferred Income (638,438) — (278,721) — — (917,159) Financial assets in concession arrangements (149,928) — (25,404) — — (175,332) Intangible assets in concession arrangements (2,537,348) — (1,451,262) — (6,367) (3,994,977) Biological assets (31,194) — (14,633) — — (45,827) Lease agreements (279,347) — (29,017) — (9,175) (317,539) Foreign currency financial liabilities (39,573) — 39,573 — — — Other (186,651) — 73,820 (2,651) 23,831 (91,651) Subtotal Ps. (6,486,432) Ps. 68,222 Ps. (2,264,119) Ps. (26,529) Ps. (30,034) Ps. (8,738,892) Total Ps. (2,320,272) Ps. (11,995) Ps. (1,291,161) Ps. 1,054,017 Ps. 2,310 Ps. (2,567,101) |
Schedule of offsets deferred tax assets and liabilities by entity and tax authority | Gross Deferred tax Balances on Statement December 31, 2023 amounts Offset of financial position Deferred tax asset Ps. 6,642,821 Ps. (5,361,909) Ps. 1,280,912 Deferred tax liability (10,908,549) 5,361,909 (5,546,640) Net Ps. (4,265,728) Ps. — Ps. (4,265,728) Gross Deferred tax Balances on Statement December 31, 2022 amounts Offset of financial position Deferred tax asset Ps. 7,669,219 Ps. (5,818,001) Ps. 1,851,218 Deferred tax liability (10,880,671) 5,818,001 (5,062,670) Net Ps. (3,211,452) Ps. — Ps. (3,211,452) Grupo Aval estimates to recover its income tax assets and settle its income tax liabilities as shown below: Deferred tax December 31, 2023 December 31, 2022 Deferred tax asset recoverable before 12 months Ps. 1,720,235 Ps. 2,012,448 Deferred tax asset recoverable after 12 months 4,922,586 5,656,771 Total Deferred tax asset Ps. 6,642,821 Ps. 7,669,219 Deferred tax liability to settle before 12 months Ps. (999,487) Ps. (1,320,594) Deferred tax liability to settle after 12 months (9,909,062) (9,560,077) Total Deferred tax liability Ps. (10,908,549) Ps. (10,880,671) Total Deferred tax Net Ps. (4,265,728) Ps. (3,211,452) Grupo Aval estimates to recover current tax assets and current tax liabilities as follows: Current tax December 31, 2023 December 31, 2022 Current tax asset recoverable before 12 months Ps. 2,388,441 Ps. 1,192,330 Current tax asset recoverable after 12 months 208,396 590,328 Total Current tax asset Ps. 2,596,837 Ps. 1,782,658 Current tax liability to settle before 12 months Ps. (268,347) Ps. (225,380) Current tax liability to settle after 12 months — (3,437) Total Current tax liability Ps. (268,347) Ps. (228,817) |
Schedule effects of the current and deferred taxes in each component of other comprehensive income | December 31, 2023 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items (2) Ps. (797,514) Ps. — Ps. 3,972 Ps. (793,542) Hedging derivatives in foreign currency — 919 (2,930) (2,011) Hedging financial liabilities in foreign currency 760,997 — (266,321) 494,676 Cash Flow hedging (3) (35,923) — (83,357) (119,280) Foreign currency translation differences for foreign operations (409,671) — 44,884 (364,787) Investment in associates and join ventures (35,892) — 1,660 (34,232) Debt financial instruments 1,795,666 — (517,560) 1,278,106 Subtotal Items that will be reclassified to profit or loss Ps. 1,277,663 Ps. 919 Ps. (819,652) Ps. 458,930 Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. (1,963) Ps. — Ps. 1,051 Ps. (912) Equity financial instruments 156,383 — (10,646) 145,737 Actuarial gains (losses) from defined benefit pension plans (56,324) — 15,096 (41,228) Subtotal Items that will not be reclassified to profit or loss Ps. 98,096 Ps. — Ps. 5,501 Ps. 103,597 Total “other comprehensive income” during the period Ps. 1,375,759 Ps. 919 Ps. (814,151) Ps. 562,527 (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference (3) See note 10.2 "Cash flow hedges". The effect of changes in the fair value of the account receivable of Ps. (258,982) which is part of the tax basis is not deferred tax. December 31, 2022 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items Ps. (6,675,329) Ps. — Ps. (3,264) Ps. (6,678,593) Hedging derivatives in foreign currency 4,051,499 (700,522) (818,130) 2,532,847 Hedging financial liabilities in foreign currency 2,549,821 (337,996) (586,846) 1,624,979 Cash Flow hedging (2,396) — 2,543 147 Foreign currency translation differences for foreign operations 1,356,213 — (24,593) 1,331,620 Investment in associates and joint ventures 81,730 — (3,054) 78,676 Debt financial instruments (2,187,495) — 545,791 (1,641,704) Subtotal Items that will be reclassified to profit or loss Ps. (825,957) Ps. (1,038,518) Ps. (887,553) Ps. (2,752,028) Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. 461 Ps. — Ps. (1,146) Ps. (685) Equity financial instruments (439,150) — (36,462) (475,612) Actuarial gains (losses) from defined benefit pension plans 95,819 — (30,369) 65,450 Subtotal Items that will not be reclassified to profit or loss Ps. (342,870) Ps. — Ps. (67,977) Ps. (410,847) Total “other comprehensive income” during the period Ps. (1,168,827) Ps. (1,038,518) Ps. (955,530) Ps. (3,162,875) (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference December 31, 2021 Current Deferred tax tax Amount (expense) (expense) Items that will be reclassified to profit or loss before taxes Income income Net (1) Hedged Items Ps. 2,565,637 Ps. — Ps. (2,292) Ps. 2,563,345 Hedging derivatives in foreign currency (403,983) — 275,834 (128,149) Hedging financial liabilities in foreign currency (1,198,919) — 476,463 (722,456) Cash Flow hedging 7,980 — (3,382) 4,598 Foreign currency translation differences for foreign operations (180,798) — (14,946) (195,744) Investment in associates and joint ventures (846) — (228) (1,074) Debt financial instruments (1,346,315) — 357,814 (988,501) Subtotal Items that will be reclassified to profit or loss Ps. (557,244) Ps. — Ps. 1,089,263 Ps. 532,019 Items that will not be reclassified to profit or loss Effect of moving investment properties for own use Ps. 4,718 Ps. — Ps. 79 Ps. 4,797 Equity financial instruments (110,397) — (19,376) (129,773) Actuarial gains (losses) from defined benefit pension plans 61,665 — (15,949) 45,716 Subtotal Items that will not be reclassified to profit or loss Ps. (44,014) Ps. — Ps. (35,246) Ps. (79,260) Total “other comprehensive income” during the period Ps. (601,258) Ps. — Ps. 1,054,017 Ps. 452,759 (1) See Note 25.5 "Consolidated Other Comprehensive Income (OCI)" (2) The tax effect only includes deferred tax on those investments where there is no control of the reversal of the temporary difference |
CUSTOMER DEPOSITS (Tables)
CUSTOMER DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of customer deposits [abstract] | |
Schedule of the balances of the deposits | Detail December 31, 2023 December 31, 2022 Demand Checking accounts Ps. 23,809,859 Ps. 25,932,053 Savings accounts 71,149,883 74,293,894 Other funds on demand 430,194 841,505 95,389,936 101,067,452 Term deposits Fixed term deposit certificates (1) 86,597,460 72,273,697 Total deposits Ps. 181,987,396 Ps. 173,341,149 Per currency In Colombian Pesos Ps. 154,916,985 Ps. 142,071,530 In foreign currency 27,070,411 31,269,619 Total per currency Ps. 181,987,396 Ps. 173,341,149 (1) The amount of term deposits due over 12 months as December 31, 2023 is Ps. 19,732,877 and December 31, 2022 is Ps. 14,702,118 . |
Schedule of the effective interest rates which are accrued on customer deposits | December 31, 2023 Deposits In Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.11 % 13.40 % 0.25 % 5.30 % Saving accounts 0.01 % 16.13 % 0.25 % 5.30 % Fixed term deposit certificates 0.05 % 23.52 % 0.45 % 8.46 % December 31, 2022 Deposits In Colombian Pesos In foreign currency Rate Rate Minimum Maximum Minimum Maximum % % % % Interest-bearing checking accounts 0.01 % 13.20 % 0.02 % 4.40 % Saving accounts 0.01 % 17.20 % 0.01 % 4.00 % Fixed term deposit certificates 0.05 % 19.54 % 0.15 % 8.05 % |
Schedule of the concentration of deposits received from customers per economic sector | December 31, 2023 December 31, 2022 Amount % Amount % Financial Ps. 33,873,473 18.6 % Ps. 29,871,901 17.2 % Individuals 32,755,163 18.0 % 36,618,776 21.1 % Government and Colombian Government entities 20,927,670 11.5 % 19,655,737 11.3 % Services 17,303,980 9.5 % 16,143,899 9.3 % Insurance 10,619,085 5.8 % 10,206,023 5.9 % Commerce 10,390,440 5.7 % 10,030,824 5.8 % Real Estate 9,252,682 5.1 % 3,109,595 1.8 % Manufacturing 3,753,556 2.1 % 3,689,037 2.1 % Agriculture and livestock 2,210,914 1.2 % 2,314,989 1.3 % Education 1,794,592 1.0 % 1,438,654 0.8 % Transport 1,523,858 0.8 % 1,849,662 1.1 % Exploitation of mines and quarries 1,071,957 0.6 % 1,700,628 1.0 % Colombian Municipalities 635,410 0.3 % 433,063 0.2 % Artistic, entertainment and recreation activities 316,956 0.2 % 1,035,984 0.6 % Foreign Governments 269,659 0.1 % 425,450 0.2 % Telecommunications 234,786 0.1 % 895,281 0.5 % Tourism 86,661 0.1 % 25 0.1 % Other 34,966,554 19.3 % 33,921,621 19.7 % Total Ps. 181,987,396 100 % Ps. 173,341,149 100 % |
FINANCIAL OBLIGATIONS (Tables)
FINANCIAL OBLIGATIONS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of deposits from financial obligations [abstract] | |
Schedule of interbank borrowings, overnight funds and borrowings from banks and others | December December 31, 2023 31, 2022 Local Currency Interbank funds Overnight funds Ps. 24,539 Ps. 10,049 Interbank funds purchased 671,542 271,843 Commitments to transfer open and closed repo operations 3,746,752 2,221,471 Commitments to transfer simultaneous operations 9,158,585 4,106,145 Commitments originated in short positions simultaneous operations 1,093,314 784,651 Total interbank funds Ps. 14,694,732 Ps. 7,394,159 Borrowings from banks and others Borrowings 3,605,693 3,986,088 Leases contracts 1,793,568 1,566,279 Overdrafts in bank checking account 13 52 Other financial obligations 237,129 237,993 Total borrowings from banks and others Ps. 5,636,403 Ps. 5,790,412 Foreign currency Interbank funds Overnight funds 14,241 7,199 Interbank funds purchased — 450,762 Commitments to transfer open and closed repo operations 372,947 1,162,612 Commitments to transfer simultaneous operations — 73,189 Total interbank funds Ps. 387,188 Ps. 1,693,762 Borrowings from banks and others Borrowings 12,077,906 18,699,150 Leases contracts 998,180 769,665 Letters of credit 1,026,404 1,256,283 Bankers acceptances 2,479,567 3,793,848 Total borrowings from banks and others Ps. 16,582,057 Ps. 24,518,946 Total interbank borrowings, overnight funds and borrowings from banks and others Ps. 37,300,380 Ps. 39,397,279 |
Schedule of borrowings | Interest rates in force at cut off December 31, 2023 December 31, 2022 Banco de Comercio Exterior - “BANCOLDEX” Fix between 2.19% and 20.96% , DTF + , IBR + Ps. 1,136,527 Ps. 1,632,763 Fondo para el Financiamiento del Sector Agropecuario - “FINAGRO” Fix between 7.30% and 15.69% , DTF + 1,482,091 722,857 Financiera de Desarrollo Territorial “FINDETER” Fix between 9.47% and 19.57%, DTF + 1.00% to 7.92%, IBR + 0.40% to 19.12%, CPI + 0.50% and 7.92% 2,194,515 2,001,655 Total Ps. 4,813,133 Ps. 4,357,275 |
Schedule of issued bonds | December December Issuer Issue Date (*) 31, 2023 31, 2022 Maturity Date (*) Interest Rate (*) Local Currency Banco Av. Villas S.A. 23/02/2021 Ps. 296,689 Ps. 361,268 Between 23/02/2024 and 23/02/2026 CPI + 0.71% to 1.36% Banco de Bogotá S.A. Between 24/09/2020 and 10/02/2021 791,579 906,568 Between 10/02/2024 and 10/02/2026 CPI + 1.16%; and Fix Between 3.40% and 4.75% Banco de Occidente S.A Between 09/08/2012 and 20/08/2020 2,121,344 2,269,916 Between 27/04/2024 and 14/12/2032 CPI + 2.37% to 4.65%; and Fix 5.83% Corporación Financiera Colombiana S.A. Between 27/08/2009 and 20/10/2021 3,205,530 3,509,805 Between 27/08/2024 and 19/11/2045 CPI + 1.58% to 5.99%; and Fix Between 3.77% Banco Popular S.A Between 12/10/2016 and 10/03/2022 2,002,987 2,725,242 Between 13/02/2024 and 10/03/2027 CPI + 2.58% to 4.13%; IBR + 1.59% to 2.68% and Fix Between 6.12% and 10.20% Grupo Aval Acciones y Valores S.A. Between 03/12/2009 and 14/11/2019 1,136,702 1,138,143 Between 14/11/2024 and 28/06/2042 CPI + 3.69% to 5.20% and Fix 6.42% Peso denominated Total Ps. 9,554,831 Ps. 10,910,942 Foreign Currency Banco de Bogotá S.A. Under rule 144A. Between 12/05/2016 and 24/03/2023 Ps. 6,750,155 Ps. 9,897,818 Between 12/05/2026 and 24/03/2033 Fix Between 4.38% to 6.25% and SOFR6 3.75% MFH Between 04/02/2020 and 28/12/2023 1,377,782 331,209 Between 12/01/2024 and 28/12/2033 Fix Between 2.50% to 7.25% Banco Bogotá and MFH Total Ps. 8,127,937 Ps. 10,229,027 Grupo Aval Limited 04/02/2020 Ps. 3,834,985 Ps. 4,822,146 04/02/2030 Fix 4.38% December December Issuer Issue Date (*) 31, 2023 31, 2022 Maturity Date (*) Interest Rate (*) Promigas S.A. and Gases del Pacífico S.A.C. Under rule 144A. Between 16/10/2019 and 22/10/2020 1,910,073 2,400,106 Between 16/10/2029 and 22/10/2029 Fix 3.75% Foreign Currency Total Ps. 13,872,995 Ps. 17,451,279 Total of Bonds Ps. 23,427,826 Ps. 28,362,221 (*) |
Schedule of interest expenses | For the twelve-months periods ended December 31, 2023 2022 2021 Interest expense Deposits Checking accounts Ps. (253,043) Ps. (159,114) Ps. (62,378) Savings accounts (5,953,426) (3,555,844) (875,439) Time deposits (9,944,424) (4,040,232) (1,700,128) Interest of the derivative designated as the hedging instrument (*) (63,333) (1,242) — Total (16,214,226) (7,756,432) (2,637,945) Financial obligations Interbank borrowings and overnight funds Ps. (1,856,263) Ps. (678,114) Ps. (162,455) Borrowings from banks and similar (1,601,927) (739,803) (401,742) Leases contracts (208,781) (147,330) — Bonds issued (2,159,948) (2,092,843) (1,368,660) Borrowing from development entities (591,285) (249,873) (90,028) Total (6,418,204) (3,907,963) (2,022,885) Total interest expense Ps. (22,632,430) Ps. (11,664,395) Ps. (4,660,830) (*) Corresponds to the coverage of interest expense for Term Certificates of Deposit "CDTs" over 12 months. |
Schedule of reconciliation of movements of liabilities to cash flows arising from financing activities | Reconciliation of movements of liabilities to cash flows arising from financing activities: Liabilities Equity Total Notes Dividends payable Bonds issued Leases contracts Subscribed and paid-in capital Additional paid-in capital Appropriated retained earnings Non-controlling interest Balance at December 31, 2020 Ps. 648,874 Ps. 27,760,797 Ps. 3,025,733 Ps. 22,281 Ps. 8,470,870 Ps. 11,302,134 Ps. 14,782,259 Ps. 66,012,948 Cash flows from financing activities: Dividends paid to shareholders (1,230,841) — — — — — - (1,230,841) Dividends paid to non-controlling interest 26 (913,356) — — — — — - (913,356) Issuance of debt securities — 2,932,471 — — — — - 2,932,471 Interest issuance of debt securities — (1,191) — — — — - (1,191) Payment of outstanding debt securities — (1,631,318) — — — — - (1,631,318) Leases contracts — — (472,084) — — — - (472,084) Redemption of preferred shares — — — — — — (29,751) (29,751) Equity transaction — — — — — — 120 120 Net cash used in financing activities (2,144,197) 1,299,962 (472,084) — — — (29,631) (1,345,950) Cash flows from operating activities: Accrued interest — 1,631,055 173,214 — — — - 1,804,269 Interest paid — (1,590,137) (168,966) — — — - (1,759,103) Other Changes 2,093,857 3,156,256 324,260 — — (1,203,000) (823,551) 3,547,822 Total liabilities related to other changes 2,093,857 3,197,174 328,508 — — (1,203,000) (823,551) 3,592,988 Total equity related to other changes — — — — 19,929 3,284,253 2,528,917 5,833,099 Balance at December 31, 2021 Ps. 598,534 Ps. 32,257,933 Ps. 2,882,157 Ps. 22,281 Ps. 8,490,799 Ps. 13,383,387 Ps. 16,457,994 Ps. 74,093,085 Cash flows from financing activities: Dividends paid to shareholders (414,267) — — — — — - (414,267) Dividends paid to non-controlling interest 26 (615,177) — — — — — - (615,177) Issuance of debt securities — 695,136 — — — — - 695,136 Payment of outstanding debt securities — (7,837,898) — — — — - (7,837,898) Leases contracts — — (383,472) — — — - (383,472) Equity transaction — — — — 7,280 — (22,294) (15,014) Net cash used in financing activities (1,029,444) (7,142,762) (383,472) — 7,280 — (22,294) (8,570,692) Cash flows from operating activities: Accrued interest — 2,147,935 148,806 — — — - 2,296,741 Interest paid — (2,109,636) (146,275) — — — - (2,255,911) Other Changes 651,725 3,208,751 (165,272) 1,463 1,082,307 (1,193,728) (542,353) 3,042,893 Total liabilities related to other changes 651,725 3,247,050 (162,741) 1,463 1,082,307 (1,193,728) (542,353) 3,083,723 Total equity related to other changes — — — — (9,012) (4,171,242) (1,538,658) (5,718,912) Balance at December 31, 2022 Ps. 220,815 Ps. 28,362,221 Ps. 2,335,944 Ps. 23,744 Ps. 9,571,374 Ps. 8,018,417 Ps. 14,354,689 Ps. 62,887,204 Cash flows from financing activities: Dividends paid to shareholders (766,537) — — — — — - (766,537) Dividends paid to non-controlling interest 26 (915,933) — — — — — - (915,933) Issuance of debt securities — 2,609,994 — — — — - 2,609,994 Payment of outstanding debt securities — (4,072,742) — — — — - (4,072,742) Leases contracts — — (391,667) — — — - (391,667) Net cash used in financing activities (1,682,470) (1,462,748) (391,667) — — — - (3,536,885) Cash flows from operating activities: Accrued interest — 2,212,345 210,041 — — — - 2,422,386 Interest paid — (2,171,231) (202,551) — — — - (2,373,782) Other Changes 1,989,639 (3,512,761) 839,981 — — (982,868) (1,006,721) (2,672,730) Total liabilities related to other changes 1,989,639 (3,471,647) 847,471 — — (982,868) (1,006,721) (2,624,126) Total equity related to other changes — — — — — 696,224 1,389,776 2,086,000 Balance at December 31, 2023 Ps. 527,984 Ps. 23,427,826 Ps. 2,791,748 Ps. 23,744 Ps. 9,571,374 Ps. 7,731,773 Ps. 14,737,744 Ps. 58,812,193 |
EMPLOYEE BENEFITS (Tables)
EMPLOYEE BENEFITS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of defined benefit plans [abstract] | |
Schedule of balance of liabilities for employee benefits | December 31, 2023 December 31, 2022 Short term Ps. 385,296 Ps. 425,523 Post-employment 380,207 349,587 Long term 159,329 133,085 Total Ps. 924,832 Ps. 908,195 Plan Asset Ps. (17,024) Ps. (18,176) Net employee benefits Ps. 907,808 Ps. 890,019 |
Schedule of post-employment benefit expense | December 31, 2023 December 31, 2022 Defined contribution plan Ps. 108,059 Ps. 101,862 Defined benefit plan 44,426 34,623 Total Ps. 152,485 Ps. 136,485 |
Schedule of post-employment and long-term benefits movements | Post-employment benefits Long-term benefits December December December December December December 31, 2023 31, 2022 31, 2021 31, 2023 31, 2022 31, 2021 Balance at the beginning of the year Ps. 349,587 Ps. 522,196 Ps. 597,936 Ps. 133,085 Ps. 134,831 Ps. 180,090 Service costs 2,690 3,845 2,749 14,765 14,815 18,454 Interests cost 41,736 30,778 30,705 16,699 8,949 7,982 Gain on settlements — — 278 — — — Past Service Costs (1) (2,079) — — 10,063 — (28,009) Ps. 391,934 Ps. 556,819 Ps. 631,668 Ps. 174,612 Ps. 158,595 Ps. 178,517 Changes in actuarial assumptions from changes in demographic assumptions (753) — (15) (7,342) — (86) Changes in actuarial assumptions from changes in financial assumptions 26,832 (69,967) (54,996) 473 (14,149) (19,976) Changes in actuarial assumptions from changes in the experience 27,472 2,167 (21,264) 17,313 10,456 (2,893) Ps. 53,551 Ps. (67,800) Ps. (76,275) Ps. 10,444 Ps. (3,693) Ps. (22,955) Payments to employees (61,589) (51,306) (51,591) (25,727) (21,817) (20,731) Liquidation of entities — (432) — — — — Reclassification BAC (2)(3) — — (1,002) — — — Loss of control in subsidiary (2) — (98,024) — — — — Discontinued operations (2) — 6,251 15,125 — — — Effect of movements in exchange rates (3,689) 4,079 4,271 — — — Liability balance at the end of the year Ps. 380,207 Ps. 349,587 Ps. 522,196 Ps. 159,329 Ps. 133,085 Ps. 134,831 Plan Assets Balance at the beginning of the year plan assets Ps. (18,176) Ps. (46,840) Ps. (38,241) Ps. — Ps. — Ps. — Interests income (794) (427) (522) — — — Remeasurements on plan assets (1,788) 5,885 (1,676) — — — Reclassification BAC (2)(3) — — (3,189) — — — Loss of control in subsidiary (2) — 27,269 — — — — Discontinued operations (2) — — (798) — — — Effect of movements in exchange rates 3,734 (4,063) (2,414) — — — Balance at the end of the year plan assets Ps. (17,024) Ps. (18,176) Ps. (46,840) Ps. — Ps. — Ps. — Net Balance at the end of the year Ps. 363,183 Ps. 331,411 Ps. 475,356 Ps. 159,329 Ps. 133,085 Ps. 134,831 (1) For 2023, in post-employment, the variation includes of a change in the institutional retirement bonus plan for Banco de Occidente and in the long term includes the update of the convention for in a long-term institutional benefit plan at Banco de Bogotá. For 2021, includes the effect of a change in a long-term institutional benefit plan at Banco de Occidente and Fiduciaria de Occidente. (2) See note 1.1., "Discontinued operation of BAC Holding". (3) Correspond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. |
Schedule of assumptions used to calculate the obligation projected for different post-employment benefits employees | December 31, December 31, Post-employment benefits * 2023 2022 Discount interest rate 11.34 % 13.27 % Inflation rate 2.96 % 3.00 % Salary growth rate 3.80 % 3.58 % Pension growth rate 3.00 % 3.00 % * Entities in Colombia and subsidiaries abroad participate. December 31, December 31, Long-term benefits * 2023 2022 Discount interest rate 11.40 % 13.72 % Inflation rate 3.00 % 3.00 % Salary growth rate 4.27 % 4.00 % * Only entities from Colombia participate. |
Schedule of sensitivity analysis for post-employment and long-term benefits liabilities due to defined benefits plans to different actuarial and financial variables | -0.50 basic points +0.50 basic points At December 31, 2023 Post-employment benefits Long-term benefits Post-employment benefits Long-term benefits Discount interest rate Ps. 10,764 Ps. 3,050 Ps. (10,227) Ps. (2,919) Salaries growth rate (1,756) (3,819) 2,353 3,589 Retirement growth rate (10,443) N/A 10,979 N/A -0.50 basic points +0.50 basic points At December 31, 2022 Post-employment benefits Long-term benefits Post-employment benefits Long-term benefits Discount interest rate Ps. 8,242 Ps. 2,414 Ps. (7,920) Ps. (2,317) Salaries growth rate (1,621) (2,991) 1,671 3,101 Retirement growth rate (7,191) N/A 3,589 N/A |
Schedule of future benefit payments projected, reflecting services | Payments for post- Payments for long- Year employment term benefits 2024 Ps. 57,922 Ps. 31,798 2025 58,572 27,668 2026 57,227 22,014 2027 54,944 22,121 2028 53,979 19,934 Years 2029 – 2033 243,179 79,389 Total Ps. 525,823 Ps. 202,924 |
LEGAL RELATED AND NON LEGAL R_2
LEGAL RELATED AND NON LEGAL RELATED PROVISIONS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of legal-related and non legal-related provision [abstract] | |
Disclosure of legal related and non legal related provisions | For legal Non-legal Total provisions Balance as of January 1, 2021 Ps. 241,774 Ps. 671,076 Ps. 912,850 Provisions made during the year 196,452 410,810 607,262 Provisions used during the year (72,892) (47,426) (120,318) Provisions reversed during the year (118,865) (146,599) (265,464) Effect of movements in exchange rates 503 7,649 8,152 Reclassification BAC (9,749) 3,382 (6,367) Discontinued operations 10,306 3,840 14,146 Balance as of December 31, 2021 Ps. 247,529 Ps. 902,732 Ps. 1,150,261 Provisions made during the year 183,294 380,005 563,299 Provisions used during the year (44,895) (200,406) (245,301) Provisions reversed during the year (1) (155,475) (62,180) (217,655) Effect of movements in exchange rates 370 17,810 18,180 Reclassification BAC (2,047) (40,193) (42,240) Discontinued operations 417 210 627 Balance as of December 31, 2022 Ps. 229,193 Ps. 997,978 Ps. 1,227,171 Provisions made during the year 298,719 334,974 633,693 Provisions used during the year (51,160) (338,536) (389,696) Provisions reversed during the year (1) (258,421) (110,419) (368,840) Effect of movements in exchange rates (642) (18,403) (19,045) Balance as of December 31, 2023 Ps. 217,689 Ps. 865,594 Ps. 1,083,283 (1) For legal related, recovery of provisions by Porvenir as of December 31, 2023 and 2022 by Ps. 241,431 and Ps. 149,598 respectively for claims for nullity of affiliations that were in progress. The estimated period for the cancellation of the provisions recorded as of December 31,2023 and 2022 is a follows. Estimated period to be canceled Legal provisions Non-legal Total provisions Within twelve months Ps. 8,283 Ps. 173,692 Ps. 181,975 After twelve months 209,406 691,902 901,308 Balance as of December 31, 2023 Ps. 217,689 Ps. 865,594 Ps. 1,083,283 Estimated period to be canceled Legal provisions Non-legal Total provisions Within twelve months Ps. 9,449 Ps. 363,888 Ps. 373,337 After twelve months 219,744 634,090 853,834 Balance as of December 31, 2022 Ps. 229,193 Ps. 997,978 Ps. 1,227,171 |
OTHER LIABILITIES (Tables)
OTHER LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of accounts payable and other liabilities [abstract] | |
Disclosure of accounts payable and other liabilities | Other liabilities of December 31, 2023 and 2022 comprise the following: Other liabilities December 31, 2023 December 31, 2022 Suppliers and services payable Ps. 3,474,177 Ps. 2,803,736 Income received for third parties 3,399,759 3,039,484 Transactions ATH and ACH (1) 939,341 749,578 Withholdings taxes and labor contributions 703,380 611,951 Cashier checks 655,854 646,688 Contract liability related to concessions 530,300 515,688 Dividends payable 527,984 220,815 Commissions and fees 411,478 399,895 Collection on behalf of third parties 334,963 266,462 Cash surplus 133,774 69,291 Insurance payables 117,371 111,081 Collection service 106,089 101,615 Value added tax - VAT 75,098 59,599 Checks drawn and not paid 70,791 88,128 Financial transactions tax 52,106 52,787 Canceled accounts 34,782 34,645 Anticipated income 17,566 18,001 Customer loyalty programs 14,784 14,009 Other liabilities 354,843 338,349 Total other liabilities Ps. 11,954,440 Ps. 10,141,802 (1) A Toda Hora S.A. – ATH y ACH Colombia S.A. are entities that administer low-value payment systems that are in charge of supporting entities for clearing transactions that are carried out through electronic channels. |
Disclosure of other liabilities to be cancelled | Other liabilities December 31, 2023 December 31, 2022 Liabilities to be canceled within twelve months 8,800,905 8,043,321 Liabilities to be canceled after twelve months 3,153,535 2,098,481 Total Ps. 11,954,440 Ps. 10,141,802 |
EQUITY ATTRIBUTABLE TO OWNERS_2
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
Schedule of authorized, issued and outstanding shares | Authorized, issued and outstanding shares as of December 31, 2023 and 2022 consisted of the following: December 31, 2023 December 31, 2022 Authorized shares 120,000,000,000 120,000,000,000 Subscribed fully paid shares 23,743,475,754 22,281,017,159 Total outstanding shares 23,743,475,754 22,281,017,159 Issuance of shares (1) - 1,462,458,595 Total outstanding shares 23,743,475,754 23,743,475,754 Issuance of shares — 1,462,458,595 Subscribed and paid-in capital Ps. — Ps. 1,463 Additional paid-in capital — 1,082,307 Issuance of shares (2) Ps. — Ps. 1,083,770 The outstanding shares are as follows: December 31, 2023 December 31, 2022 Common voting shares (3) 16,201,712,499 16,204,145,980 Preferred non-voting shares (4) 7,541,763,255 7,539,329,774 (1) Issuance of shares for dividend distribution. (2) These shares were issued at Ps. 741.06 pesos per share, recognizing Ps. 1 peso in capital stock and Ps. 740.06 pesos in Additional paid-in capital. (3) Common Voting shares with a nominal value of (Ps. 1 ) Colombian peso. (4) Since 2011, Grupo Aval allows its shareholders to convert their common shares into preferred shares. For the years ended December 31, 2023 and 2022, 2,433,481 and 2,515,570 common shares were converted into preferred shares, respectively. Preferred shares have the right to receive a preferential minimum dividend of one Colombian peso (Ps. 1 ) per semester per share. This preferential minimum dividend is only applicable when dividends declared for common shares are less than one Colombian peso (Ps. 1 ). Preferential minimum dividends are not cumulative. |
Schedule of appropriation of retained earnings | December 31, 2023 December 31, 2022 Retained earnings (1) Ps. 525,153 Ps. (4,784,817) Accumulated withholding tax over dividends (26,135) (25,824) Legal reserve 11,872 11,872 Statutory and voluntary reserves 7,220,883 12,817,186 Ps. 7,731,773 Ps. 8,018,417 (1) See note 1.1., "Discontinued operation of BAC Holding". |
Schedule of the dividends are declared and paid to shareholders based on unconsolidated net income under Colombian IFRS (NCIF) | The dividends are declared and paid to shareholders based on unconsolidated net income under Colombian IFRS (NCIF), the dividends declared were as follows: December 31, 2023 December 31, 2022 December 31, 2021 Net income for the periods ended in Ps. 2,541,179 Ps. 3,502,758 Ps. 2,399,001 Declared dividends In the general assembly held in March 2023, 43.20 pesos per share payable in twelve installments of 3.60 pesos per share, from April 2023 to March 2024. In the general assembly held in March 2022, A stock dividend at the rate of $54 per share on the 22,281,017,159 common and preferred shares outstanding as of December 31, 2021. These dividends will be paid in shares, at the rate of 1 share for every 13.72333 common or preferred shares, as of December 31, 2021. The payment of the shares will be made on May 31, 2022, to whoever is entitled to it at the time the payment becomes due in accordance with current regulations. For this purpose, up to a total of 1,623,586,385 new shares of the same species held by the shareholder will be issued. The unit value of the shares will be 741.06 . In the general assembly held in March 2021, 54.00 pesos per share payable in twelve installments of 4.50 pesos per share, from April 2021 to March 2022. Total outstanding shares 23,743,475,754 22,281,017,159 22,281,017,159 Total declared dividends (*) Ps. 1,025,718 Ps. 1,203,175 Ps. 1,203,175 (*) |
Schedule of earnings per share | The following table summarizes the earnings per share for the year ended as of December 31, 2023, 2022 and 2021: December 31, 2023 December 31, 2022 December 31, 2021 Net income for the year Ps. 2,177,116 Ps. 4,869,133 Ps. 5,668,502 Less: participation of non- controlling interests (1,438,113) (2,386,248) (2,370,766) Net income attributable to owners of the parent 739,003 2,482,885 3,297,736 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (234,727) (791,989) (1,058,554) Net Income allocated to common shareholders for basic and diluted EPS Ps. 504,276 Ps. 1,690,896 Ps. 2,239,182 Weighted average number of common shares outstanding used in basic EPS calculation (2) 16,202,376,163 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos ) 31.12 107.29 148.01 Basic and Diluted earnings per ADS (3) 622.47 2,145.74 2,960 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,743,475,754 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 31.12 107.29 148.01 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. The following table summarizes earnings per share over net income from continuing operations for the years ended December 31, 2023, 2022 and 2021. December 31, 2023 December 31, 2022 December 31, 2021 Net income from continuing operations Ps. 2,177,116 Ps. 4,002,967 Ps. 4,041,190 Less: participation of non- controlling interests (1,438,113) (2,114,072) (1,862,010) Net income attributable to owners of the parent 739,003 1,888,895 2,179,180 Less: preferred dividends declared — — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (234,727) (602,519) (699,504) Net Income allocated to common shareholders for basic and diluted EPS Ps. 504,276 Ps. 1,286,376 Ps. 1,479,676 Weighted average number of common shares outstanding used in basic EPS calculation (2) 16,202,376,163 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos) 31.12 81.62 97.80 Basic and Diluted earnings per ADS (3) 622.47 1,632.41 1,956.09 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,743,475,754 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 31.12 81.62 97.80 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. The following table summarizes earnings per share over net income from discontinued operations for the years ended December 31, 2022 and 2021. December 31, 2022 December 31, 2021 Net income from continuing operations Ps. Ps. 866,166 Ps. 1,627,312 Less: participation of non- controlling interests (272,176) (508,756) Net income attributable to owners of the parent 593,990 1,118,556 Less: preferred dividends declared — — Less: Allocation of undistributed earnings to preferred stockholders (1)(2) (189,470) (359,050) Net Income allocated to common shareholders for basic and diluted EPS Ps. Ps. 404,520 Ps. 759,506 Weighted average number of common shares outstanding used in basic EPS calculation (2) 15,760,496,801 15,128,947,661 Basic and Diluted earnings per share to common shareholders (in Colombian pesos) 25.67 50.20 Basic and Diluted earnings per ADS (3) 513.33 1,004.04 Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) 23,142,465,372 22,281,017,159 Basic earnings of the owners of the parent per share in Colombian pesos 25.67 50.20 (1) Based on a weighted average of preferred shares. (2) Averages based on an end of month number of preferred or common shares. (3) Each ADS represents 20 preferred shares. |
Schedule of components of accumulated other comprehensive income | Net gain (loss) on hedges of net investment in foreign operations Cash flow hedges Foreign currency translation differences from unhedged foreign operations Effect of moving investment properties for own use Unrealized gains (losses) debt securities Unrealized gains (losses) Equity securities Investments in associates and join ventures Actuarial gains(losses) Income tax Total comprehensive income, net of taxes Ending balance 2020 Ps. (727,703) Ps. (42) Ps. (886,783) Ps. 14,302 Ps. 560,584 Ps. 915,935 Ps. 115,344 Ps. (185,154) Ps. 1,914,708 Ps. 1,721,191 Current-period change 962,735 7,980 (180,798) 4,718 (1,346,315) (110,397) (846) 61,665 1,054,017 452,759 Ending balance 2021 Ps. 235,032 Ps. 7,938 Ps. (1,067,581) Ps. 19,020 Ps. (785,731) Ps. 805,538 Ps. 114,498 Ps. (123,489) Ps. 2,968,725 Ps. 2,173,950 Current-period change (266,716) (2,396) 90,619 461 (2,088,548) (439,150) 66,366 95,819 809,995 (1,733,550) Realization of OCI to P&L of discontinued operation (1) 192,707 — 1,265,594 — (98,947) — 15,364 — (2,804,043) (1,429,325) Ending balance 2022 Ps. 161,023 Ps. 5,542 Ps. 288,632 Ps. 19,481 Ps. (2,973,226) Ps. 366,388 Ps. 196,228 Ps. (27,670) Ps. 974,677 Ps. (988,925) Current-period change (36,517) (47,793) (409,671) 557 1,898,441 151,517 (35,892) (51,763) (813,708) 655,171 Realization of OCI — 11,870 — (2,520) (102,775) 4,866 — (4,561) 476 (92,644) Ending balance 2023 Ps. 124,506 Ps. (30,381) Ps. (121,039) Ps. 17,518 Ps. (1,177,560) Ps. 522,771 Ps. 160,336 Ps. (83,994) Ps. 161,445 Ps. (426,398) Non -controlling interest Owners of the parent Total comprehensive income, net of taxes Beginning balance 2020 Ps. 859,178 Ps. 862,013 Ps. 1,721,191 Current-period change 197,590 255,169 452,759 Ending balance 2021 Ps. 1,056,768 Ps. 1,117,182 Ps. 2,173,950 Current-period change (452,982) (1,280,568) (1,733,550) Realization of OCI to P&L of discontinued operation (1) (446,146) (983,179) (1,429,325) Ending balance 2022 Ps. 157,640 Ps. (1,146,565) Ps. (988,925) Current-period change (6,447) 661,618 655,171 Realization of OCI (33,372) (59,272) (92,644) Ending balance 2023 Ps. 117,821 Ps. (544,219) Ps. (426,398) (1) |
NON-CONTROLLING INTEREST (Table
NON-CONTROLLING INTEREST (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of noncontrolling interest [Abstract] | |
Schedule of information regarding the non-controlling interest of each direct subsidiary | The following table includes information regarding the non-controlling interest of each direct and indirect subsidiary of Grupo Aval at December 31, 2023 and 2022: December 31, 2023 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 59.47% Ps. 9,835,593 Ps. 1,166,399 Ps. (555,084) Banco Bogotá S.A. Colombia 31.07% 2,395,427 138,297 (256,413) Banco de Occidente S.A. Colombia 27.73% 1,296,543 73,902 (61,931) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Colombia 24.24% 689,306 132,805 (128) Banco Comercial AV Villas S.A. Colombia 20.13% 328,655 (47,625) (4,673) Banco Popular S.A. Colombia 6.26% 192,220 (25,665) (37,704) Total Ps. 14,737,744 Ps. 1,438,113 Ps. (915,933) December 31, 2022 Non-controlling Non-controlling Dividends paid to non- Non-controlling Interest share of interest share of controlling interest in Entity Country Interest equity net income the year Corporación Financiera Colombiana S.A. Colombia 59.47% Ps. 9,347,843 Ps. 1,604,142 Ps. (427,370) Banco Bogotá S.A. Colombia 31.07% 2,602,543 628,214 (121,337) Banco de Occidente S.A. Colombia 27.73% 1,234,275 96,441 (44,202) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. Colombia 24.24% 603,288 36,527 (3) Banco Comercial AV Villas S.A. Colombia 20.13% 349,487 21,765 (16,225) Banco Popular S.A. Colombia 6.26% 217,253 (841) (6,040) Total Ps. 14,354,689 Ps. 2,386,248 Ps. (615,177) |
Schedule of information regarding each direct subsidiary that has significant non-controlling interests | The following table includes information regarding each direct and indirect subsidiary of Grupo Aval that has significant non-controlling interests to December 31, 2023, and 2022(before eliminations): December 31, 2023 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI - Controlling operating activities Corporación Financiera Colombiana S.A. Ps. 57,281,194 Ps. 41,759,075 Ps. 21,924,701 Ps. 1,530,167 Ps. 518,906 Ps. 462,627 Banco Bogotá S.A. 137,474,034 121,705,013 7,426,045 968,934 (470,967) 4,939,701 Banco de Occidente S.A. 68,601,785 62,913,703 3,751,270 479,557 (70,255) 1,527,081 Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 3,571,979 700,357 1,184,591 560,210 (14,502) 189,272 Banco Comercial AV Villas S.A. 18,913,324 17,171,402 1,144,236 (241,004) 34,174 (382,392) Banco Popular S.A. Ps. 85,370,710 Ps. 67,656,734 Ps. 39,314,924 Ps. (184,616) Ps. 21,218 Ps. 126,336 December 31, 2022 Cash Flow from Entity Assets Liabilities Total Income Net Income OCI - Controlling operating activities Corporación Financiera Colombiana S.A. Ps. 54,030,318 Ps. 39,158,937 Ps. 13,466,165 Ps. 2,301,398 Ps. 355,507 Ps. 1,607,158 Banco Bogotá S.A. 137,873,838 122,063,279 12,767,867 2,806,268 (586,923) (3,276,271) Banco de Occidente S.A. 60,004,409 54,788,335 5,799,384 456,343 (311,542) (1,676,363) Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. 3,522,732 1,056,580 972,508 155,194 (60,646) 33,365 Banco Comercial AV Villas S.A. 19,648,282 17,801,302 2,062,719 103,774 (102,613) 274,563 Banco Popular S.A. Ps. 32,667,378 Ps. 29,449,526 Ps. 3,406,454 Ps. 79,994 Ps. (80,101) Ps. (51,186) |
NET INCOME FROM CONTRACTS WIT_2
NET INCOME FROM CONTRACTS WITH CUSTOMERS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income from contract with customers [abstract] | |
Schedule of income and expenses for commissions and fees | December 31, December 31, December 31, Income from commissions and fees 2023 2022 2021 (1) Banking service fees Ps. 1,663,340 Ps. 1,533,322 Ps. 1,364,835 Debit and credit card fees 1,009,472 836,046 671,131 Pension and severance fund management 978,504 885,420 1,199,068 Trust activities and portfolio management services 463,194 353,285 336,637 Bonded warehouse services 188,191 187,237 169,386 Commissions on transfers, checks and checkbooks 22,941 25,181 25,187 Office network services 21,638 24,935 18,914 Other commissions and fees 9,056 29,013 10,771 Total income from commissions and fees Ps. 4,356,336 Ps. 3,874,439 Ps. 3,795,929 December 31, December 31, December 31, Expenses from commissions and fees 2023 2022 2021 (1) Banking services Ps. (617,524) Ps. (473,595) Ps. (371,380) Sales and services commissions (250,460) (340,918) (227,510) Fees paid to pension funds sales force (70,335) (97,470) (87,499) Information processing services of operators (29,905) (24,320) (22,940) Offices network services (20,147) (16,993) (11,158) Other (15,442) (17,380) (11,255) Total expenses from commissions and fees Ps. (1,003,813) Ps. (970,676) Ps. (731,742) Net income from commissions and fees Ps. 3,352,523 Ps. 2,903,763 Ps. 3,064,187 (1) |
Schedule of incomes and cost for goods and services | Below is the detail of the income and cost from goods and services for the years ended as of December 31, 2023, 2022 and 2021: December 31, December 31, December 31, Income from sales of goods and services 2023 2022 2021 Energy and Gas Ps. 6,158,616 Ps. 5,718,808 Ps. 4,874,278 Infrastructure 3,954,197 5,330,193 4,662,912 Hotels 598,895 532,337 285,692 Agribusiness 296,804 340,984 218,511 Other services 215,044 219,005 409,521 Total income from sales of goods and services (*) Ps. 11,223,556 Ps. 12,141,327 Ps. 10,450,914 (*) December 31, December 31, December 31, Costs and expenses of sales goods and services 2023 2022 2021 Cost of sales from companies from non-financial sector Ps. (5,799,721) Ps. (5,575,912) Ps. (5,594,615) Allowance for impairment of loans and receivables (51,035) (59,073) (51,064) General and administrative expenses (989,313) (843,125) (647,425) Personnel expenses (607,894) (609,050) (558,561) Amortization of intangible assets (353,305) (305,488) (263,755) Depreciation of tangible assets (90,344) (103,972) (117,246) Depreciation of right of use assets (37,031) (35,294) (34,374) Employee bonuses (14,376) (11,569) (38,766) Commissions and fees expenses (39,466) (34,646) (27,886) Donations expenses (19,858) (16,739) (16,178) Labor severances (3,254) (1,363) (2,109) Total costs and expenses of sales goods and services Ps. (8,005,597) Ps. (7,596,231) Ps. (7,351,979) Gross profit from sales of goods and services Ps. 3,217,959 Ps. 4,545,096 Ps. 3,098,935 |
NET TRADING INCOME (Tables)
NET TRADING INCOME (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of net trading income [abstract] | |
Schedule of net trading income | December 31, December 31, December 31, 2023 2022 2021 (4) Trading investment income (1) Fixed income (loss) securities Ps. 1,030,809 Ps. (60,797) Ps. (135,465) Equities 634,274 90,568 260,564 Total trading investment income Ps. 1,665,083 Ps. 29,771 Ps. 125,099 Derivatives (loss) income Net (loss) income on financial derivatives (2) Ps. (2,438,841) Ps. 1,503,453 Ps. 710,213 Other trading (loss) income (3) (142,291) 26,402 86,969 Total derivatives (loss) income Ps. (2,581,132) Ps. 1,529,855 Ps. 797,182 Total net trading (loss) income Ps. (916,049) Ps. 1,559,626 Ps. 922,281 (1) Includes net trading income from investment securities held for trading, that reflects the interest from investment in debt securities, gains/losses from mark-to-market valuation from investment in equity and debt securities and net income from trading activities. (2) Includes net trading income from derivatives, which reflects the gains/losses from mark-to-market valuation on trading derivatives. (3) Includes gains/losses from: (i) Net changes in the valuation of hedging derivatives from mark-to-market valuations from unhedged, (ii) the ineffective portion of the hedge, (iii) Transfers of due hedging derivatives from OCI to the statement of income. (4) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. |
OTHER INCOME AND EXPENSE (Table
OTHER INCOME AND EXPENSE (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other income and expense [abstract] | |
Disclosure of general and administrative expense [text block] | December 31, December 31, December 31, Other Income 2023 2022 2021 (2) Foreign exchange gains (losses), net (1) Ps. 2,253,925 Ps. (1,825,718) Ps. (491,415) Share of profit of equity accounted investees, net of tax 371,397 372,777 300,217 Gain on sale of properties, plant and equipment 360,728 142,149 20,651 Dividends 126,274 119,888 153,969 Net gain (loss) on sale of debt and equity securities 108,773 (134,699) 83,640 Net gain (loss) on asset valuation 74,886 50,463 20,974 Gain on the sale of non-current assets held for sale 48,589 10,487 13,631 Other income (3) 406,734 416,082 288,013 Total other income Ps. 3,751,306 Ps. (848,571) Ps. 389,680 (1) The net variation as of December 31, 2023, and December 31, 2022, corresponds mainly to the effect on the exchange rate variation of (Ps. (2) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1. (3) , i December 31, December 31, December 31, Other Expense 2023 2022 2021 (1) Personnel expenses Ps. (3,055,168) Ps. (2,833,794) Ps. (2,634,187) Taxes and fees (1,214,559) (872,341) (678,613) Insurance (618,197) (524,557) (480,879) Consultancy, audit and other fees (537,972) (479,043) (447,130) Maintenance and repairs (394,524) (357,790) (310,265) Amortization of intangible assets (240,804) (225,137) (206,688) Marketing (233,512) (207,071) (174,961) Depreciation of tangible assets (218,230) (219,316) (209,296) Depreciation right of use assets (211,457) (201,293) (190,883) Affiliation contributions and transfers (168,986) (252,942) (212,952) Warehouse services (148,633) (144,739) (135,625) Leases (Rent) (144,276) (134,691) (131,552) Transportation services (95,520) (99,296) (93,707) Data processing (85,231) (77,803) (62,213) Losses due to claims (83,728) (39,435) (40,409) Cleaning and security services (80,904) (74,276) (73,852) Outsourcing services (59,599) (68,779) (61,522) Supplies and stationary (52,074) (46,114) (45,736) Loss from sale of property and equipment (44,399) (26,387) (11,968) Donations expenses (31,309) (36,019) (3,773) Adaptation and installation (28,076) (30,636) (28,947) Travel expenses (21,345) (24,249) (13,295) Impairment losses other assets (2,946) (20,787) (69,950) Loss from sale of non-current assets held for sale (595) (800) (2,927) Other (574,410) (412,488) (468,726) Total other expense Ps. (8,346,454) Ps. (7,409,783) Ps. (6,790,056) (1) Comparative information has been re-presented due to a discontinued operation disclosed in Note 1.1 |
ANALYSIS OF OPERATING SEGMENTS
ANALYSIS OF OPERATING SEGMENTS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Schedule of operating segments | The following is the detail of the reportable financial information summarized for each segment as of December 31, 2023, 2022 and 2021: Statement of Financial Position December 31, 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Assets Trading assets Ps. 8,987,130 Ps. 4,339,052 Ps. 2,197,618 Ps. 256 Ps. (72,935) Ps. 15,451,121 Investment securities (2) 28,140,335 4,323,998 470,474 2,359,521 (868,635) 34,425,693 Hedging derivatives assets 47,975 687 — — — 48,662 Investments in associates and joint ventures 11,825,193 997,597 — 19,060,746 (30,592,853) 1,290,683 Loans, net 174,849,356 2,660,449 — 1,239,785 (2,581,535) 176,168,055 Other assets (3) 30,346,277 44,959,411 903,887 411,537 (2,823,730) 73,797,382 Total assets Ps. 254,196,266 Ps. 57,281,194 Ps. 3,571,979 Ps. 23,071,845 Ps. (36,939,688) Ps. 301,181,596 Liabilities Customer deposits 177,750,657 8,169,647 1,287 — (3,934,195) 181,987,396 Financial obligations 41,562,702 21,455,386 97,565 5,512,298 (3,086,612) 65,541,339 Other liabilities (4) 9,258,820 12,134,042 601,505 382,088 (244,010) 22,132,445 Total liabilities Ps. 228,572,179 Ps. 41,759,075 Ps. 700,357 Ps. 5,894,386 Ps. (7,264,817) Ps. 269,661,180 (1) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (2) The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited. (3) Includes cash and cash equivalents for Ps. 18,597,861 ; intangible assets Ps. 18,141,916 ; other accounts receivable Ps. 25,617,225 , tangible assets Ps. 6,995,890 ; income tax assets Ps. 3,877,749 ; non-current assets held for sale Ps. 101,184 and other assets Ps. 465,557 . (4) Includes trading liabilities Ps. 2,154,361 ; hedging derivative liabilities Ps. 217,566 ; income tax liabilities Ps. 5,814,987 ; employee benefits Ps. 907,808 ; provisions Ps. 1,083,283 and other liabilities Ps. 11,954,440 . Statement of income for 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total External income Interest income Ps. 27,293,337 Ps. 1,149,086 Ps. 117,076 Ps. 359,905 Ps. — Ps. 28,919,404 Income from commissions and fees (2) 3,243,740 134,252 978,344 — — 4,356,336 Income from sales of goods and services (2) 107,864 11,069,075 46,617 — — 11,223,556 Share of profit of equity accounted investees, net of tax 41,277 326,328 — 3,792 — 371,397 Dividends 11,252 115,022 — — — 126,274 Net income from other financial instruments mandatory at fair value through profit or loss — 323,685 — — — 323,685 Net trading income (1,245,312) 34,383 294,784 96 — (916,049) Foreign exchange gain (loss), net 1,575,043 692,134 (11,757) (1,495) — 2,253,925 Other income (3) 817,906 153,118 28,419 267 — 999,710 Total external income Ps. 31,845,107 Ps. 13,997,083 Ps. 1,453,483 Ps. 362,565 Ps. — Ps. 47,658,238 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Intersegment income Interest income Ps. 376,228 Ps. 158,256 Ps. 3,588 Ps. 31,624 Ps. (569,696) Ps. — Income from commissions and fees (2) 29,127 1,979 254 292,641 (324,001) — Income from sales of goods and services (2) 2,324 1,844 38,373 — (42,541) — Share of profit of equity accounted investees, net of tax 830,683 (341) — 642,720 (1,473,062) — Dividends 453 1,449 — — (1,902) — Net trading income 80 2,202 5,315 — (7,597) — Other income (3) 53,109 (446) (24,025) 835 (29,473) — Total intersegment income 1,292,004 164,943 23,505 967,820 (2,448,272) — Total income Ps. 33,137,111 Ps. 14,162,026 Ps. 1,476,988 Ps. 1,330,385 Ps. (2,448,272) Ps. 47,658,238 Expenses Interest expense Ps. (19,260,207) Ps. (3,471,779) Ps. (56,927) Ps. (519,869) Ps. 676,352 Ps. (22,632,430) Net impairment loss on financial assets (4,170,048) (28,175) 1,965 12,578 1,286 (4,182,394) Depreciation and amortization (639,717) (14,028) (16,786) (1,736) 1,776 (670,491) Expenses from commissions and fees (910,751) (16,104) (104,773) (430) 28,245 (1,003,813) Costs and expenses of sales goods and services (443,840) (7,498,858) (79,794) — 16,895 (8,005,597) Personnel expenses (2,672,717) (147,303) (195,469) (39,779) 100 (3,055,168) Administrative expenses (4,185,245) (178,885) (259,331) (67,494) 323,953 (4,367,002) Income tax expense 184,941 (1,268,268) (172,943) (56,966) 2,802 (1,310,434) Other expense (4) (212,354) (8,459) (32,721) 82,111 (82,370) (253,793) Total expenses (32,309,938) (12,631,859) (916,779) (591,585) 969,039 (45,481,122) Net income for the year Ps. 827,173 Ps. 1,530,167 Ps. 560,209 Ps. 738,800 Ps. (1,479,233) Ps. 2,177,116 (1) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (2) See note 28, income from contracts with customers. (3) Includes Net gain on sale of debt and equity securities for Ps. 108,773 ; Gain on the sale of non-current assets held for sale Ps. 48,589 ; net gain in asset valuation Ps. 74,886 and other operating income Ps. 767,462 . (4) Includes loss from sale of non-current assets held for sale Ps. (595) and other operating expenses Ps. (253,198) . Revenue from contracts with customers at December, 2023 Banking Services Merchant Banking Pension and Severance Fund Management Holding (1) Eliminations Total Revenue from contracts with customers (2) Ps. 3,383,055 Ps. 11,207,150 Ps. 1,063,588 Ps. 292,641 Ps. (366,542) Ps. 15,579,892 Timing of revenue recognition At a point in time 142,134 400,146 75,527 292,641 (304,433) 606,015 Over time 3,240,921 10,807,004 988,061 — (62,109) 14,973,877 (1) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (2) See note 28, includes Income from contracts with customers. Statement of Financial Position December 31, 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Assets Trading assets Ps. 5,689,416 Ps. — Ps. 4,147,230 Ps. 2,061,335 Ps. 764 Ps. (57,338) Ps. 11,841,407 Investment securities (3) 27,574,684 — 3,364,143 528,607 2,725,950 (518,907) 33,674,477 Hedging derivatives assets 107 — 20,747 — — — 20,854 Investments in associates and joint ventures 11,326,522 — 1,143,120 — 18,812,115 (29,858,414) 1,423,343 Loans, net 177,391,660 — 2,455,471 — 1,505,904 (2,237,188) 179,115,847 Other assets (4) 27,794,158 — 42,899,607 932,790 282,691 (2,393,938) 69,515,308 Total assets Ps. 249,776,547 Ps. — Ps. 54,030,318 Ps. 3,522,732 Ps. 23,327,424 Ps. (35,065,785) Ps. 295,591,236 Liabilities Customer deposits Ps. 170,222,824 — 6,589,578 1,124 — (3,472,377) 173,341,149 Financial obligations 46,440,671 — 21,296,089 444,647 6,509,111 (2,573,743) 72,116,775 Other liabilities (5) 7,441,514 — 11,273,270 610,809 124,715 (138,655) 19,311,653 Total liabilities Ps. 224,105,009 Ps. — Ps. 39,158,937 Ps. 1,056,580 Ps. 6,633,826 Ps. (6,184,775) Ps. 264,769,577 (1) See note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval (Separate Financial Statement) and Grupo Aval Limited. (3) The balance in segment Holding corresponds to a bond issued by BAC International Bank Incorporated acquired by Grupo Aval Limited. (4) Includes cash and cash equivalents for Ps. 17,032,857 ; intangible assets Ps. 17,531,081 ; other accounts receivable Ps. 23,380,573 , tangible assets Ps. 7,235,441 ; income tax assets Ps. 3,633,876 ; non-current assets held for sale Ps. 92,830 and other assets Ps. 608,650 . (5) Includes trading liabilities Ps. 1,757,606 ; Hedging derivative liabilities Ps. 3,568 ; income tax liabilities Ps. 5,291,487 ; employee benefits Ps. 890,019 ; provisions Ps. 1,227,171 and other liabilities Ps. 10,141,802 . Statement of Income for the year 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total External income Interest income Ps. 18,321,381 Ps. — Ps. 723,488 Ps. 98,302 Ps. 259,861 Ps. — Ps. 19,403,032 Income from commissions and fees (3) 2,865,336 — 127,609 881,494 — — 3,874,439 Income from sales of goods and services (3) 88,093 — 11,986,518 66,716 — — 12,141,327 Share of profit of equity accounted investees, net of tax 41,904 — 326,448 — 4,425 — 372,777 Dividends 17,696 — 102,192 — — — 119,888 Net income from other financial instruments mandatory at fair value through profit or loss — — 278,751 — — — 278,751 Net trading income 1,207,099 — 388,350 (35,975) 152 — 1,559,626 Foreign exchange loss, net (1,286,774) — (483,627) (54,771) (546) — (1,825,718) Other income (4) 583,001 — (98,871) (738) 1,090 — 484,482 Discontinued operations (5) 455,908 544,890 — — (134,632) — 866,166 Total external income Ps. 22,293,644 Ps. 544,890 Ps. 13,350,858 Ps. 955,028 Ps. 130,350 Ps. — Ps. 37,274,770 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Intersegment income Interest income Ps. 240,317 Ps. — Ps. 110,250 Ps. 7,958 Ps. 172,312 Ps. (530,837) Ps. — Income from commissions and fees (3) 23,981 — 1,502 3,682 282,924 (312,089) — Income from sales of goods and services (3) 26,225 — 1,603 4,573 — (32,401) — Share of profit of equity accounted investees, net of tax 884,067 — 427 — 1,915,871 (2,800,365) — Dividends 298 — 1,876 — — (2,174) — Net trading income — — (387) (1,639) — 2,026 — Foreign exchange loss, net — — — — — — — Other income (4) 12,832 — 36 2,906 369 (16,143) — Discontinued operations (5) — — — — 596,648 (596,648) — Total intersegment income 1,187,720 — 115,307 17,480 2,968,124 (4,288,631) — Total income Ps. 23,481,364 Ps. 544,890 Ps. 13,466,165 Ps. 972,508 Ps. 3,098,474 Ps. (4,288,631) Ps. 37,274,770 Expenses Interest expense Ps. (9,602,059) Ps. — Ps. (2,030,256) Ps. (63,207) Ps. (517,383) Ps. 548,510 Ps. (11,664,395) Net impairment loss on financial assets (2,447,198) — (14,266) (7,782) (23,840) (62) (2,493,148) Depreciation and amortization (620,298) — (11,492) (14,486) (1,766) 2,296 (645,746) Expenses from commissions and fees (767,204) — (17,175) (193,124) (19,992) 26,819 (970,676) Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Costs and expenses of sales goods and services (487,142) — (7,059,820) (63,049) — 13,780 (7,596,231) Personnel expenses (2,493,399) — (123,104) (168,450) (48,933) 92 (2,833,794) Administrative expenses (3,569,706) — (126,670) (195,071) (116,899) 304,747 (3,703,599) Income tax expense (405,748) — (1,753,733) (92,993) (18,802) (128) (2,271,404) Other expense (6) (178,160) — (28,251) (19,152) (1,185) 104 (226,644) Total expenses (20,570,914) — (11,164,767) (817,314) (748,800) 896,158 (32,405,637) Net income for the year Ps. 2,910,450 Ps. 544,890 Ps. 2,301,398 Ps. 155,194 Ps. 2,349,674 Ps. (3,392,473) Ps. 4,869,133 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, income from contracts with customers. (4) Includes Net gain on sale of debt and equity securities for Ps. (134,699) ; Gain on the sale of non-current assets held for sale Ps. 10,487 ; net gain in asset valuation Ps. 50,463 and other operating income Ps. 558,231 . (5) S ee note 1.1. “Discontinued operations of BAC Holding” . (6) Includes loss from sale of non-current assets held for sale Ps. (800) and other operating expenses Ps. (225,844) . Revenue from contracts with customers at December, 2022 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Revenue from contracts with customers (3) Ps. 3,003,635 Ps. — Ps. 12,117,232 Ps. 956,465 Ps. 282,924 Ps. (344,490) Ps. 16,015,766 Timing of revenue recognition At a point in time 318,011 — 193,572 62,743 282,924 (289,876) 567,374 Over time 2,685,624 — 11,923,660 893,722 — (54,614) 15,448,392 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, includes Income from contracts with customers. Statement of Income of the year 2021 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total External income Interest income Ps. 12,304,916 Ps. — Ps. 441,586 Ps. 44,907 Ps. — Ps. — Ps. 12,791,409 Income from commissions and fees (3) 2,506,789 — 94,244 1,194,305 591 — 3,795,929 Income from sales of goods and services (3) 85,268 — 10,309,563 56,083 — — 10,450,914 Share of profit of equity accounted investees, net of tax 25,486 — 272,646 — 2,085 — 300,217 Dividends 11,551 — 142,418 — — — 153,969 Net income from other financial instruments mandatory at fair value through profit or loss — — 270,095 — — — 270,095 Net trading income 490,743 — 207,794 223,745 (1) — 922,281 Foreign exchange loss, net (189,065) — (243,430) (59,150) 230 — (491,415) Other income (4) 411,634 — 15,705 (1,297) 867 — 426,909 Discontinued operations (5) — 10,444,185 — — — — 10,444,185 Total external income Ps. 15,647,322 Ps. 10,444,185 Ps. 11,510,621 Ps. 1,458,593 Ps. 3,772 Ps. — Ps. 39,064,493 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Intersegment income Interest income Ps. 120,669 Ps. — Ps. 22,353 Ps. 5,308 Ps. 445,206 Ps. (593,536) Ps. — Income from commissions and fees (3) 20,209 — 1,821 3,508 283,640 (309,178) — Income from sales of goods and services (3) 19,768 — 933 6,117 — (26,818) — Share of profit of equity accounted investees, net of tax 862,945 — 1,139 — 3,406,774 (4,270,858) — Dividends 267 — 2,039 — — (2,306) — Net trading income (2,040) — (318) (1,987) — 4,345 — Foreign exchange loss, net — — (250) — — 250 Gain on deconsolidation (6) 1,303,024 — — — — (1,303,024) — Other income (4) 13,974 — (1,053) 5,694 137 (18,752) — Discontinued operations (5) 1,627,312 64,106 — — — (1,691,418) — Total intersegment income 3,966,128 64,106 26,664 18,640 4,135,757 (8,211,295) — Total income Ps. 19,613,450 Ps. 10,508,291 Ps. 11,537,285 Ps. 1,477,233 Ps. 4,139,529 Ps. (8,211,295) Ps. 39,064,493 Expenses Interest expense Ps. (3,745,070) Ps. — Ps. (1,028,343) Ps. (40,247) Ps. (443,209) Ps. 596,039 Ps. (4,660,830) Net impairment loss on financial assets (2,714,672) — (9,177) (6,943) — 9,709 (2,721,083) Depreciation and amortization (585,650) — (9,434) (15,637) (1,811) 5,665 (606,867) Expenses from commissions and fees (625,788) — (13,587) (131,503) (563) 39,699 (731,742) Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Costs and expenses of sales goods and services (479,775) — (6,830,460) — — (41,744) (7,351,979) Personnel expenses (2,331,813) — (107,959) (172,539) (37,293) 15,417 (2,634,187) Administrative expenses (3,131,934) — (100,585) (232,314) (99,532) 354,758 (3,209,607) Income tax expense (601,377) — (1,476,571) (191,886) (53,555) (39) (2,323,428) Other expense (7) (98,699) — (112,146) (105,961) (439) (22,150) (339,395) Discontinued operations (5) — (8,816,873) — — — — (8,816,873) Total expenses (14,314,778) (8,816,873) (9,688,262) (897,030) (636,402) 957,354 (33,395,991) Net income for the year Ps. 5,298,672 Ps. 1,691,418 Ps. 1,849,023 Ps. 580,203 Ps. 3,503,127 Ps. (7,253,941) Ps. 5,668,502 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement) and Grupo Aval Limited. (3) See note 28, income from contracts with customers. (4) Includes net gain on sale of debt and equity securities for Ps. 83,640 ; gain on the sale of non-current assets held for sale Ps. 13,631 ; net gain in asset valuation Ps. 20,974 and other operating income Ps. 308,664 . (5) Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022. Includes recognition of the spin-off of MFG from the BAC Holding segment to the Banco de Bogotá segment. (6) Corresponds to deconsolidation of Porvenir from the Banco de Bogotá segment. (7) Includes loss from sale of non-current assets held for sale Ps. (2,927) and other operating expenses Ps. (336,468) . Revenue from contracts with customers at December, 2021 Banking Services BAC Holding International Corp. (1) Merchant Banking Pension and Severance Fund Management Holding (2) Eliminations Total Revenue from contracts with customers (3) Ps. 2,632,034 Ps. — Ps. 10,406,561 Ps. 1,260,013 Ps. 284,231 Ps. (335,996) Ps. 14,246,843 Timing of revenue recognition At a point in time 273,025 — 139,770 54,701 284,231 (291,523) 460,204 Over time 2,359,009 — 10,266,791 1,205,312 — (44,473) 13,786,639 (1) S ee note 1.1. “Discontinued operations of BAC Holding” . (2) Includes Grupo Aval ( Separate Financial Statement ) and Grupo Aval Limited. (3) See note 28, includes Income from contracts with customers. |
Schedule of income by country | December 31, 2023 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 26,954,361 Ps. 1,852,433 Ps. 62,818 Ps. 49,582 Ps. 210 Ps. 28,919,404 Income from commissions and fees 4,196,458 157,526 2,116 119 117 4,356,336 Commissions on banking services 1,526,772 134,216 2,116 119 117 1,663,340 Fees on credit cards 986,721 22,751 — — — 1,009,472 Pension and severance fund management 978,504 — — — — 978,504 Trust activities 463,194 — — — — 463,194 Storage services 188,191 — — — — 188,191 Commissions on drafts, checks and checkbooks 22,382 559 — — — 22,941 Office network services 21,638 — — — — 21,638 Other commissions 9,056 — — — — 9,056 Share of profit of equity accounted investees, net of tax 371,397 — — — — 371,397 Dividends 119,988 6,286 — — — 126,274 Income from sales of goods and services 10,305,957 — — 917,599 — 11,223,556 Energy and gas E&G 5,263,794 — — 894,822 — 6,158,616 Infrastructure 3,954,197 — — — — 3,954,197 Hotels 576,118 — — 22,777 — 598,895 Agribusiness 296,804 — — — — 296,804 Other services 215,044 — — — — 215,044 Other income 2,500,392 155,595 (294) 5,584 (6) 2,661,271 Total income Ps. 44,448,553 Ps. 2,171,840 Ps. 64,640 Ps. 972,884 Ps. 321 Ps. 47,658,238 (1) Costa Rica and Grand Cayman. December 31, 2022 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 17,882,243 Ps. 1,445,425 Ps. 41,664 Ps. 33,550 Ps. 150 Ps. 19,403,032 Income from commissions and fees 3,731,370 140,491 2,398 46 134 3,874,439 Commissions on banking services 1,410,232 120,512 2,398 46 134 1,533,322 Pension and severance fund management 885,420 — — — — 885,420 Fees on credit cards 816,587 19,459 — — — 836,046 Trust activities 353,285 — — — — 353,285 Storage services 187,237 — — — — 187,237 Other commissions 29,013 — — — — 29,013 Commissions on drafts, checks and checkbooks 24,661 520 — — — 25,181 Office network services 24,935 — — — — 24,935 Share of profit of equity accounted investees, net of tax 372,777 — — — — 372,777 Dividends 108,343 11,545 — — — 119,888 Income from sales of goods and services 11,198,953 — — 942,374 — 12,141,327 Energy and gas E&G 4,797,942 — — 920,866 — 5,718,808 Infrastructure 5,330,193 — — — — 5,330,193 Hotels 510,829 — — 21,508 — 532,337 Agribusiness 340,984 — — — — 340,984 Other services 219,005 — — — — 219,005 Other income 370,640 115,657 (616) 11,146 314 497,141 Total income from continuing operations Ps. 33,664,326 Ps. 1,713,118 Ps. 43,446 Ps. 987,116 Ps. 598 Ps. 36,408,604 Discontinued operations (2) 866,166 — — — — 866,166 Total income 34,530,492 1,713,118 43,446 987,116 598 37,274,770 (1) (2) December 31, 2021 Country Colombia Panamá Barbados Perú Other countries (1) Total income Interest income Ps. 11,683,436 Ps. 1,058,684 Ps. 27,652 Ps. 21,037 Ps. 600 Ps. 12,791,409 Income from commissions and fees 3,681,566 110,506 2,664 786 407 3,795,929 Commissions on banking services 1,264,012 96,966 2,664 786 407 1,364,835 Pension and severance fund management 1,199,068 — — — — 1,199,068 Fees on credit cards 658,030 13,101 — — — 671,131 Trust activities 336,637 — — — — 336,637 Storage services 169,386 — — — — 169,386 Commissions on drafts, checks and checkbooks 24,748 439 — — — 25,187 Office network services 18,914 — — — — 18,914 Other commissions 10,771 — — — — 10,771 Share of profit of equity accounted investees, net of tax 300,217 — — — — 300,217 Dividends 148,091 5,878 — — — 153,969 Income from sales of goods and services 9,416,207 — — 1,034,707 — 10,450,914 Energy and gas E&G 3,850,399 — — 1,023,879 — 4,874,278 Infrastructure 4,662,912 — — — — 4,662,912 Hotels 274,864 — — 10,828 — 285,692 Agribusiness 218,511 — — — — 218,511 Other services 409,521 — — — — 409,521 Other income 966,253 158,525 2,009 881 202 1,127,870 Total income from continuing operations Ps. 26,195,770 Ps. 1,333,593 Ps. 32,325 Ps. 1,057,411 Ps. 1,209 Ps. 28,620,308 Discontinued operations (2) 10,444,185 — — — — 10,444,185 Total income 36,639,955 1,333,593 32,325 1,057,411 1,209 39,064,493 ______________________________ (1) Costa Rica and Grand Cayman. (2) Co rrespond to reclassification for comparability of the movements of BAC Holding consider the deconsolidation of this entity during year 2022 . |
Schedule of non-current assets by country | December 31, 2023 (1) Own – use Property, plant and equipment, net (2) Intangible assets Colombia Ps. 3,979,113 Ps. 15,303,358 Panamá 326,976 258,404 Perú 121,544 2,579,249 Barbados 170 905 Total Ps. 4,427,803 Ps. 18,141,916 December 31, 2022 (1) Own – use Property, plant and equipment, net (2) Intangible assets Colombia Ps. 4,173,701 Ps. 14,239,986 Panamá 431,409 334,463 Perú 124,953 2,956,379 Barbados 179 253 Total Ps. 4,730,242 Ps. 17,531,081 (1) see note 15.1 (2) see notes 16 to 18. |
UNCONSOLIDATED STRUCTURED ENT_2
UNCONSOLIDATED STRUCTURED ENTITIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of unconsolidated structured entities [abstract] | |
Disclosure of interests in unconsolidated structured entities [text block] | Grupo Funds Aval’s managed managed by December 31, 2023 funds other entities Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 3,680,026 Ps. 2,567,099 Ps. 6,247,125 Other account receivables 31,629 533 32,162 Total assets in relation to Grupo Aval’s interests in the unconsolidated structured entities 3,711,655 2,567,632 6,279,287 Grupo Aval’s maximum exposure (*) Ps. 3,711,655 Ps. 2,567,632 Ps. 6,279,287 (*) Represent Grupo Funds Aval’s managed managed by December 31, 2022 funds other entities Total Grupo Aval’s interest-assets Investments at fair value through profit or loss Ps. 4,427,288 Ps. 1,602,297 Ps. 6,029,585 Other account receivables 29,862 — 29,862 Total assets in relation to Grupo Aval’s interests in the unconsolidated structured entities 4,457,150 1,602,297 6,059,447 Grupo Aval’s maximum exposure (*) Ps. 4,457,150 Ps. 1,602,297 Ps. 6,059,447 (*) Represent |
RELATED PARTIES (Tables)
RELATED PARTIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Schedule of balances with related parties | Balances as of the year ended December 31, 2023 and 2022, with related parties, are detailed in the following tables: Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2023 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. - Ps. - Ps. - Ps. 863 Ps. - Financial assets in investments - - 1,533,531 2,008,318 - Financial assets in credit operations 14,141 7,537 742,607 (**) 2,884,514 138,645 Accounts receivable 28 12 34,908 1,945,671 68 Other assets - - 12,651 59,511 - Liabilities Deposits Ps. 187,385 Ps. 27,531 Ps. 95,101 Ps. 1,420,051 Ps. 15,432 Accounts payable 683 314 20,173 417,908 2 Financial obligations 85 1,237 3 4,774 - Other liabilities - - 61 53 - (*) Include family members (**) Includes two loans for Ps. 1,037,413 at 36 months with SOFR rate 3M + 3.5% and Ps. 202,371 at 24 months with IBR rate 3M + 4.5% , granted to an entity controlled by the ultimate beneficial owner of the Group (See note 1.1 B) Individuals Entities Entities Individuals with with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Assets Cash and equivalents Ps. — Ps. — Ps. — Ps. 292 Ps. — Financial assets in investments — — 1,798,710 3,047,516 — Financial assets in credit operations 18,375 8,822 553,830 (**) 3,228,184 161,569 Accounts receivable 35 19 14,288 2,154,112 6 Other assets — — 7,941 28,290 3,028 Liabilities Deposits Ps. 260,079 Ps. 29,704 Ps. 176,414 Ps. 1,099,251 Ps. 14,351 Accounts payable 292 214 19,983 153,676 5,033 Financial obligations 13 74 — 20,279 — Other liabilities — — 7,032 114 — (*) Include family members (**) Includes two loans for Ps. 1,303,971 at 36 months with SOFR rate 3M + 3.5% and Ps. 201,954 at 24 months with IBR rate 3M + 4.5% , granted to an entity controlled by the ultimate beneficial owner of the Group (See note 1.1 B) |
Schedule of transactions between related parties | Individuals Entities Individuals with Entities with control Key Associates Entities significant over Grupo management and joint controlled by influence by December 31, 2023 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 550 Ps. 611 Ps. 92,029 Ps. 618,120 Ps. 24,009 Fee income and commissions 4 25 28,853 157,205 33 Leases — — 1,574 76 — Other income 3 14 480,565 30,809 51 Expenses Financial expenses Ps. (4,412) Ps. (3,581) Ps. (10,337) Ps. (80,165) Ps. (281) Fee expenses and commissions (4) (2,801) (91,646) (4,044) (171) Operating expenses (706) (15,735) (408) (5,517) — Other expenses (11) (8) (173,899) (100,632) — (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 501 Ps. 578 Ps. 45,585 Ps. 342,962 Ps. 20,418 Fee income and commissions 3 69 29,161 169,629 6 Leases — — 1,499 — — Other income 5 6 510,803 28,818 36 Expenses Financial expenses Ps. (2,458) Ps. (2,253) Ps. (13,370) Ps. (119,330) Ps. (211) Fee expenses and commissions (4) (2,153) (59,554) (5,028) (400) Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2022 Aval (*) personnel (*) ventures individuals individuals Operating expenses (905) (11,277) (502) (3,181) — Other expenses (8) (3,190) (213,080) (98,920) (35) (*) Include family members Individuals Entities Entities with Individuals with Entities significant control Key Associates controlled influence over Grupo management and joint by by December 31, 2021 Aval (*) personnel (*) ventures individuals individuals Income Interest income Ps. 294 Ps. 439 Ps. 18,333 Ps. 60,964 Ps. 11,224 Fee income and commissions 4 51 30,417 120,642 6 Leases — — 1,459 81 — Other income 7 14 340,583 15,867 20 Expenses Financial expenses Ps. (857) Ps. (391) Ps. (1,034) Ps. (31,879) Ps. (127) Fee expenses and commissions (4) (1,862) (39,278) (1,466) (338) Operating expenses (308) (9,829) (327) (2,648) — Other expenses (3) (2,868) (84,328) (49,364) — (*) Include family members |
Schedule of key management personnel | The compensation received by the key personnel of the management comprises the following: Year ended as of December 31, December 31, December 31, Items 2023 2022 2021 Salaries Ps. 36,222 Ps. 34,852 Ps. 34,250 Short term benefits for employees 6,741 17,686 14,761 Termination benefits 8,754 — — Long term benefits for employees — — 425 Fee 2,418 1,917 1,871 Total Ps. 54,135 Ps. 54,455 Ps. 51,307 |
SUBSEQUENT EVENTS (Tables)
SUBSEQUENT EVENTS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Schedule for the effects of the previous transaction | 1. The General Meeting of Shareholders that took place on March 20, 2024 , approved the following: Net income for period ended December 31, 2023 included in the unconsolidated financial statements of Grupo Aval Ps. 723,037 Occasional reserve release at the disposal of the General Meeting of Shareholders Ps. 7,220,883 Total Income available for disposal of the General Meeting of Shareholders Ps. 7,943,920 Dividends To distribute a cash profit of Ps. 2 per share per month during the months of April 2024 to March 2025, both months included over 23,743,475,754 shares subscribed and paid as of the date of this meeting. Total dividends declared Ps. 569,843 Total shares outstanding 23,743,475,754 To Occasional reserve at the disposal of General Meeting of Shareholders Ps. 7,374,077 |
REPORTING ENTITY - Tabular disc
REPORTING ENTITY - Tabular disclosure (Details) | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Banco de Bogota S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 68.93% | |||
Percentage of economic interest held | 68.93% | 68.93% | 68.74% | |
Fiduciaria Bogota S.A | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Management of trust funds. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 94.99% | |||
Percentage of economic interest held | 65.47% | |||
Almaviva S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Logistics services. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 95.81% | |||
Percentage of economic interest held | 66.04% | |||
Megalnea S.A | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Technical and administrative services | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 94.90% | |||
Percentage of economic interest held | 65.41% | |||
Banco de Bogota Panama S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Commercial banking services. | |||
Country of incorporation of subsidiary | Panamá, Republic of Panamá | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 68.93% | |||
Multi Financial Holding | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Holding company of Multi Financial Group Inc. (MFG) | |||
Country of incorporation of subsidiary | Panamá, Republic of Panamá | |||
Percentage of voting rights held | 100% | 100% | ||
Percentage of economic interest held | 68.93% | |||
Multi Financial Group Inc. (MFG) | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of voting rights held | 99.57% | |||
Banco de Occidente S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 72.27% | |||
Percentage of economic interest held | 72.27% | |||
Banco de Occidente Panama. S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Commercial banking services. | |||
Country of incorporation of subsidiary | Panamá, Republic of Panamá | |||
Percentage of voting rights held | 95% | |||
Percentage of economic interest held | 68.66% | |||
Fiduciaria de Occidente S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Management of trust funds. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 94.98% | |||
Percentage of economic interest held | 70.86% | |||
Occidental Bank Barbados Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Commercial banking services. | |||
Country of incorporation of subsidiary | Barbados | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 72.27% | |||
Banco Popular S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 93.74% | |||
Percentage of economic interest held | 93.74% | |||
Alpopular S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Conservation and custody of documents; transportation of products at national and international levels. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 71.10% | |||
Percentage of economic interest held | 66.65% | |||
Fiduciaria Popular S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Management of trust funds. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 94.85% | |||
Percentage of economic interest held | 88.91% | |||
Corporacion Financiera Colombiana | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Active management of a stock pipeline through controlled and uncontrolled investments in strategic sectors including infrastructure, energy and gas, agribusiness and hotels. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 55.73% | |||
Percentage of economic interest held | 40.53% | |||
Corporacion Financiera Colombiana S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 55.73% | |||
Percentage of economic interest held | 40.53% | |||
Promigas S.A. E.S.P. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Transportation and distribution of natural gas. | |||
Country of incorporation of subsidiary | Barranquilla, Colombia | |||
Percentage of voting rights held | 50.88% | |||
Percentage of economic interest held | 20.62% | |||
Colombiana de Licitaciones y Concesiones S.A.S | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | 40.53% | 40.40% | |
Estudios y Proyectos del Sol S.A.S. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | |||
Proyectos y Desarrollos Viales del Pacfico S.A.S | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | |||
Concesionaria Vial Del Oriente S.A.S. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | |||
Concesionaria Vial Del Pacifico S.A.S. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Sabaneta Antioquia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | |||
Estudios, Proyectos e Inversiones de los Andes S.A.S. y subsidiarias | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Infrastructure projects. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.52% | |||
CFC Gas Holding S.A.S | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Investment Company | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 40.53% | |||
Banco Comercial AV Villas S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 80.39% | |||
Percentage of economic interest held | 79.87% | |||
A Toda Hora S.A. ATH | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | ATM network services and maintenance | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 78.93% | |||
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation of subsidiary | Colombia | Colombia | ||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 75.76% | |||
Aportes en Lnea S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Principal place of business of subsidiary | Technical and administrative services. | |||
Country of incorporation of subsidiary | Bogotá, Colombia | |||
Percentage of voting rights held | 100% | |||
Percentage of economic interest held | 75.18% |
REPORTING ENTITY - Textual (Det
REPORTING ENTITY - Textual (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Banco de Bogota S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 68.93% | ||
Proportion of ownership interest in subsidiary | 68.93% | 68.93% | 68.74% |
Banco de Occidente S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 72.27% | ||
Proportion of ownership interest in subsidiary | 72.27% | ||
Banco Popular S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 93.74% | ||
Proportion of ownership interest in subsidiary | 93.74% | ||
Banco Comercial AV Villas S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 80.39% | ||
Proportion of ownership interest in subsidiary | 79.87% | ||
Corporacion Financiera Colombiana S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 55.73% | ||
Proportion of ownership interest in subsidiary | 40.53% | ||
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |||
Disclosure of subsidiaries [line items] | |||
Proportion of voting rights held in subsidiary | 100% | ||
Proportion of ownership interest in subsidiary | 75.76% | ||
Grupo Aval Limited | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest in subsidiary | 100% |
REPORTING ENTITY - Discontinued
REPORTING ENTITY - Discontinued operations (Details) | Dec. 19, 2022 | Dec. 14, 2022 | Mar. 31, 2022 | Dec. 06, 2022 |
Banco de Bogota S.A. | BAC Holding International Corp | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Proportion of ownership interest in associate | 25% | |||
Percentage of equity interest agreed to sell | 25% | |||
Tender offer oversubscribed ratio | 1.20 | |||
Percentage of investment in associates ceased and recognized as financial assets | 4.11% | 4.11% | ||
Banco de Bogota S.A. | BAC Holding International Corp | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Percentage of equity interest transferred to related party | 20.89% | |||
BAC Holding International Corp | Banco de Bogota S.A. | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Percentage Of Spin Off | 75% |
REPORTING ENTITY - Spin off BAC
REPORTING ENTITY - Spin off BAC Holding - Textual (Details) | 12 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2023 | |
Banco de Bogota S.A. | ||
Disclosure of analysis of single amount of discontinued operations [line items] | ||
Percentage of voting rights held | 68.93% | |
BAC Holding International Corp | ||
Disclosure of analysis of single amount of discontinued operations [line items] | ||
Percentage of voting rights held | 100% | |
BAC Holding International Corp | Banco de Bogota S.A. | ||
Disclosure of analysis of single amount of discontinued operations [line items] | ||
Percentage of spin off | 75% |
REPORTING ENTITY - Spin off B_2
REPORTING ENTITY - Spin off BAC Holding - Impacts on assets, liabilities and equity recognized (Details) - COP ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Total assets | $ 301,181,596 | $ 295,591,236 | |
Total liabilities | 269,661,180 | 264,769,577 | |
Non-controlling interests | 14,737,744 | 14,354,689 | |
Equity attributable to owners of the parent | $ 16,782,672 | $ 16,466,970 | |
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Total assets | $ 111,185,832 | ||
Total liabilities | 98,305,772 | ||
Non-controlling interests | 1,961 | ||
Equity attributable to owners of the parent | $ 12,878,099 | ||
Percentage of spin off | 75% | ||
Spin-off amount | $ 9,658,574 | ||
Proportion of ownership interest in subsidiary | 68.74% | ||
Effect of the spin-off on owners of the parent | $ (6,638,961) | ||
Effect of the spin-off on non-controlling interest | $ (3,019,613) |
REPORTING ENTITY - Spin off B_3
REPORTING ENTITY - Spin off BAC Holding - Realization of other comprehensive income (Details) - COP ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Hedged items | $ (797,514) | $ (6,675,329) | $ 2,565,637 | |
Hedging derivative instruments | 4,051,499 | (403,983) | ||
Hedging non-derivative instruments | 760,997 | 2,549,821 | (1,198,919) | |
Foreign currency translation differences from unhedged foreign operations | (409,671) | 1,356,213 | (180,798) | |
Unrealized gains on debt securities at FVOCI | 1,795,666 | (2,187,495) | (1,346,315) | |
Income tax expense | (818,733) | (1,926,071) | 1,089,263 | |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | $ 458,930 | (2,752,028) | $ 532,019 | |
BAC Holding International Corp | ||||
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | $ 1,429,325 | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | ||||
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Hedged items | $ 6,551,200 | |||
Hedging derivative instruments | (4,013,210) | |||
Hedging non-derivative instruments | (2,761,143) | |||
Foreign currency translation differences from unhedged foreign operations | (1,267,033) | |||
Unrealized gains on debt securities at FVOCI | 98,947 | |||
Income tax expense | 2,443,861 | |||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 1,052,622 | |||
Total other comprehensive income that will be reclassified to profit or loss, net of tax - Attributable to owners of the parent | 723,535 | |||
Total reclassifications of Other Comprehensive Income to profit or loss - Attributable to non-controlling interest | 329,087 | |||
Total reclassifications of Other Comprehensive Income to retained earnings | (7,735) | |||
Total reclassifications of Other Comprehensive Income to retained earnings - Attributable to owners of the parent | (5,317) | |||
Total reclassifications of Other Comprehensive Income to retained earnings - Attributable to non-controlling interest | $ (2,418) | |||
Proportion of ownership interest in subsidiary | 68.74% |
REPORTING ENTITY - Spin off B_4
REPORTING ENTITY - Spin off BAC Holding - Derecognized assets and liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | |||||
Cash and cash equivalents | $ 18,597,861 | $ 17,032,857 | $ 36,642,829 | $ 34,025,535 | |
Trading assets | 15,451,121 | 11,841,407 | |||
Investment securities | 34,425,693 | 33,674,477 | |||
Loans, net | 176,168,055 | 179,115,847 | |||
Other accounts receivable, net | 25,617,225 | 23,380,573 | |||
Non-current assets held for sale | 101,184 | 92,830 | |||
Tangible assets | 6,995,890 | 7,235,441 | 9,100,553 | ||
Goodwill | 2,202,222 | 2,248,217 | 8,486,560 | ||
Other intangible assets | 2,382,427 | 2,040,158 | |||
Income tax assets | 3,877,749 | 3,633,876 | |||
Other assets | 465,557 | 608,650 | |||
Total assets | 301,181,596 | 295,591,236 | |||
Liabilities | |||||
Trading liabilities | 2,154,361 | 1,757,606 | |||
Customer deposits | 181,987,396 | 173,341,149 | |||
Financial obligations | 65,541,339 | 72,116,775 | |||
Provisions | 1,083,283 | 1,227,171 | 1,150,261 | 912,850 | |
Income tax liabilities | 5,814,987 | 5,291,487 | |||
Employee benefits | 907,808 | 890,019 | |||
Other Liabilities | 11,954,440 | 10,141,802 | |||
Total liabilities | 269,661,180 | 264,769,577 | |||
Equity | |||||
Equity attributable to owners of the parent | 16,782,672 | 16,466,970 | |||
Non-controlling interests | 14,737,744 | 14,354,689 | |||
Total equity | 31,520,416 | 30,821,659 | 39,471,647 | $ 35,439,557 | |
Total liabilities and equity | $ 301,181,596 | $ 295,591,236 | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||||
Assets | |||||
Cash and cash equivalents | $ 17,570,390 | $ 18,963,992 | |||
Trading assets | 158,850 | ||||
Investment securities | 14,286,296 | ||||
Loans, net | 69,778,334 | ||||
Other accounts receivable, net | 915,840 | ||||
Non-current assets held for sale | 63,957 | ||||
Tangible assets | 1,899,743 | ||||
Goodwill | 5,902,410 | ||||
Other intangible assets | 196,106 | ||||
Income tax assets | 227,872 | ||||
Other assets | 186,034 | ||||
Total assets | 111,185,832 | ||||
Liabilities | |||||
Trading liabilities | 904 | ||||
Customer deposits | 83,778,961 | ||||
Financial obligations | 10,938,587 | ||||
Provisions | 39,670 | ||||
Income tax liabilities | 481,239 | ||||
Employee benefits | 246,186 | ||||
Other Liabilities | 2,820,225 | ||||
Total liabilities | 98,305,772 | ||||
Equity | |||||
Equity attributable to owners of the parent | 12,878,099 | ||||
Non-controlling interests | 1,961 | ||||
Total equity | 12,880,060 | ||||
Total liabilities and equity | $ 111,185,832 |
REPORTING ENTITY - Spin off B_5
REPORTING ENTITY - Spin off BAC Holding - Discontinued operations income statement (Details) - COP ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Dec. 14, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 26,534,115 | $ 17,559,516 | $ 11,882,144 | ||
Investments in debt securities | 2,385,289 | 1,843,516 | 909,265 | ||
Total interest income | 28,919,404 | 19,403,032 | 12,791,409 | ||
Interest expense | |||||
Checking accounts | (253,043) | (159,114) | (62,378) | ||
Savings accounts | (5,953,426) | (3,555,844) | (875,439) | ||
Time deposits | (9,944,424) | (4,040,232) | (1,700,128) | ||
Interest expense on deposits from customers | (16,214,226) | (7,756,432) | (2,637,945) | ||
Financial obligations | |||||
Interbank borrowings and overnight funds | (1,856,263) | (678,114) | (162,455) | ||
Borrowings from banks and similar | (1,601,927) | (739,803) | (401,742) | ||
Bonds issued | (2,159,948) | (2,092,843) | (1,368,660) | ||
Total Financial obligations | (6,418,204) | (3,907,963) | (2,022,885) | ||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (4,751,039) | (3,120,403) | (3,192,335) | ||
Other financial assets | 12,871 | (16,723) | (660) | ||
Net impairment loss on financial assets | (4,182,394) | (2,493,148) | (2,721,083) | ||
Net interest income, after impairment losses | 2,104,580 | 5,245,489 | 5,409,496 | ||
Income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 | ||
Expenses from commissions and fees | (1,003,813) | (970,676) | (731,742) | ||
Net income from commissions and fees | 3,352,523 | 2,903,763 | 3,064,187 | ||
Net trading (loss) income | (916,049) | 1,559,626 | 922,281 | ||
Other expenses | (8,346,454) | (7,409,783) | (6,790,056) | ||
Net income before tax expense | 3,487,550 | 6,274,371 | 6,364,618 | ||
Net reclassifications of Other Comprehensive Income | $ 458,930 | (2,752,028) | 532,019 | ||
Net income from discontinued operations, net of tax | 866,166 | 1,627,312 | |||
Net income for the year attributable to: | |||||
Owners of the parent | 593,990 | 1,118,556 | |||
Non-controlling interests | 272,176 | 508,756 | |||
Net income from discontinued operations, net of tax | $ 866,166 | $ 1,627,312 | |||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | $ 50.20 | |||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | $ 50.20 | |||
BAC Holding International Corp | |||||
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 1,684,995 | ||||
Investments in debt securities | 164,424 | ||||
Total interest income | 1,849,419 | ||||
Interest expense | |||||
Checking accounts | (47,739) | ||||
Savings accounts | (53,608) | ||||
Time deposits | (324,670) | ||||
Interest expense on deposits from customers | (426,017) | ||||
Financial obligations | |||||
Interbank borrowings and overnight funds | (253) | ||||
Borrowings from banks and similar | (66,621) | ||||
Bonds issued | (61,195) | ||||
Total Financial obligations | (128,069) | ||||
Net interest income | 1,295,333 | ||||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (264,926) | ||||
Other financial assets | (2,850) | ||||
Net impairment loss on financial assets | (267,776) | ||||
Net interest income, after impairment losses | 1,027,557 | ||||
Income from commissions and fees | 753,523 | ||||
Expenses from commissions and fees | (30,396) | ||||
Net income from commissions and fees | 723,127 | ||||
Net trading (loss) income | 953 | ||||
Other income | 543,073 | ||||
Other expenses | (2,633,765) | ||||
Net income before tax expense | (339,055) | ||||
Income tax expense | (224,104) | ||||
Net income (loss) from discontinued operations | (563,159) | ||||
Net reclassifications of Other Comprehensive Income | 1,429,325 | ||||
Net income from discontinued operations, net of tax | 866,166 | ||||
Net income for the year attributable to: | |||||
Owners of the parent | 593,990 | ||||
Non-controlling interests | 272,177 | ||||
Net income from discontinued operations, net of tax | $ 866,166 | ||||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | ||||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | ||||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||||
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 1,684,995 | ||||
Investments in debt securities | 164,424 | ||||
Total interest income | 1,849,419 | ||||
Interest expense | |||||
Checking accounts | (47,739) | ||||
Savings accounts | (53,608) | ||||
Time deposits | (324,670) | ||||
Interest expense on deposits from customers | (426,017) | ||||
Financial obligations | |||||
Interbank borrowings and overnight funds | (253) | ||||
Borrowings from banks and similar | (66,621) | ||||
Bonds issued | (61,195) | ||||
Total Financial obligations | (128,069) | ||||
Net interest income | 1,295,333 | ||||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (264,926) | ||||
Other financial assets | (2,850) | ||||
Net impairment loss on financial assets | (267,776) | ||||
Net interest income, after impairment losses | 1,027,557 | ||||
Income from commissions and fees | 753,523 | ||||
Expenses from commissions and fees | (30,396) | ||||
Net income from commissions and fees | 723,127 | ||||
Net trading (loss) income | 953 | ||||
Other income | 291,413 | ||||
Other expenses | (1,274,056) | ||||
Net income before tax expense | 768,994 | ||||
Income tax expense | (224,104) | ||||
Net income (loss) from discontinued operations | 544,890 | ||||
Net reclassifications of Other Comprehensive Income | 1,052,622 | ||||
Net income from discontinued operations, net of tax | 1,597,512 | ||||
Net income for the year attributable to: | |||||
Owners of the parent | 1,098,073 | ||||
Non-controlling interests | 499,439 | ||||
Net income from discontinued operations, net of tax | $ 1,597,512 | ||||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 47.45 | ||||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 47.45 |
REPORTING ENTITY - Spin off B_6
REPORTING ENTITY - Spin off BAC Holding - Discontinued operations cash flow (Details) - COP ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Net income from discontinued operations, net of tax | $ 866,166 | $ 1,627,312 | ||
Reconciliation of net income before taxes and net cash (used) provided by operating activities: | ||||
Effect of realization OCI to income | $ 458,930 | (2,752,028) | 532,019 | |
Net cash provided (used in) operating activities | 6,005,501 | (222,124) | 5,901,630 | |
Cash flows from investing activities: | ||||
Net cash Provided (used) in investing activities | 1,840,647 | (13,012,475) | (6,601,941) | |
Decrease in cash and cash equivalents | (1,393,602) | |||
Increase (decrease) in cash and cash equivalents | 1,565,004 | (19,609,972) | 2,617,294 | |
Cash and cash equivalents at beginning of year | $ 36,642,829 | 17,032,857 | 36,642,829 | 34,025,535 |
Cash and cash equivalents at end of year | $ 18,597,861 | 17,032,857 | 36,642,829 | |
BAC Holding International Corp | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Net income from discontinued operations, net of tax | 866,166 | |||
Reconciliation of net income before taxes and net cash (used) provided by operating activities: | ||||
Effect of realization OCI to income | 1,429,325 | |||
Discontinued operation participation in results | (563,159) | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Net income from discontinued operations, net of tax | 1,597,512 | |||
Reconciliation of net income before taxes and net cash (used) provided by operating activities: | ||||
Effect of realization OCI to income | 1,052,622 | |||
Discontinued operation participation in results | 544,890 | |||
Cash flows from investing activities: | ||||
Loss of control in subsidiary | (17,570,390) | |||
Net cash Provided (used) in investing activities | (17,570,390) | |||
Decrease in cash and cash equivalents | (1,393,602) | |||
Increase (decrease) in cash and cash equivalents | (18,963,992) | |||
Cash and cash equivalents at beginning of year | 18,963,992 | $ 18,963,992 | ||
Cash and cash equivalents at end of year | $ 17,570,390 | $ 18,963,992 |
REPORTING ENTITY - Sale of BAC
REPORTING ENTITY - Sale of BAC Holding - Textual (Details) - COP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Dec. 19, 2022 | Dec. 14, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Value issuance of shares | $ 1,655,855 | $ 120 | |||
BAC Holding International Corp | |||||
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Share price (in dollar per share) | $ 293 | ||||
BAC Holding International Corp | Banco de Bogota S.A. | |||||
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Proportion of ownership interest in associate | 25% | ||||
Percentage of investment in associates ceased and recognized as financial assets | 4.11% | 4.11% | |||
Banco de Bogota S.A. | BAC Holding International Corp | |||||
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Number shares sold | 9,030,424,454 | ||||
Value issuance of shares | $ 2,645,914 | ||||
BAC Holding International Corp | Banco de Bogota S.A. | |||||
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Percentage Of Spin Off | 75% |
REPORTING ENTITY - Sale of BA_2
REPORTING ENTITY - Sale of BAC Holding - Details of transaction (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Dec. 14, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Share of profit of equity accounted investees, net of tax | $ 371,397 | $ 372,777 | $ 300,217 | |
Hedged items | (797,514) | (6,675,329) | 2,565,637 | |
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Net gain (loss) on hedges of net investments in foreign operations - Hedged items | (797,514) | (6,675,329) | 2,565,637 | |
Net gain (loss) on hedges of net investments in foreign operations - Hedging non-derivative instrument | 760,997 | 2,549,821 | (1,198,919) | |
Foreign currency translation differences from unhedged foreign operations | (409,671) | 1,356,213 | (180,798) | |
Deferred tax | (814,151) | (955,530) | ||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 458,930 | (2,752,028) | 532,019 | |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | $ 458,930 | (2,752,028) | 532,019 | |
Net income from discontinued operations, net of tax | 866,166 | 1,627,312 | ||
BAC Holding International Corp | ||||
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 1,429,325 | |||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 1,429,325 | |||
Net income from discontinued operations, net of tax | 866,166 | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Sale [Member] | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
BAC shares before the sale | 10,805,047,272 | |||
Investment carrying amount as of April 1, (The fair value of the retained interest). | $ 3,356,952 | |||
Share of profit of equity accounted investees, net of tax | 251,660 | |||
Other Comprehensive Income, investments in associates | (15,364) | |||
Hedged items | 930,900 | |||
Other Comprehensive Income, cumulative translation adjustment of the investments | 1,439 | |||
Derecognition of BAC Holding as an investment in associate | 4,525,587 | |||
Recognition of retained interest | 519,964 | |||
Consideration received | 2,645,914 | |||
Amount reclassified to discontinued operations as a Share of profit of equity accounted investees, net of tax | 251,660 | |||
Other Comprehensive Income items which were reclassified to profit or loss | ||||
Net gain (loss) on hedges of net investments in foreign operations - Hedged items | 930,900 | |||
Net gain (loss) on hedges of net investments in foreign operations - Hedging non-derivative instrument | (900,454) | |||
Foreign currency translation differences from unhedged foreign operations | 30,446 | |||
Equity method | (15,364) | |||
Cumulative translation adjustment of the investments | 1,439 | |||
Deferred tax | 360,182 | |||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | $ 376,703 | 1,429,325 | ||
Proportion of ownership interest in subsidiary | 68.93% | |||
Attributable to owners of the parent | $ 259,644 | |||
Attributable to non-controlling interest | 117,059 | |||
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 376,703 | 1,429,325 | ||
Net income from discontinued operations, net of tax | $ (731,346) | $ 866,166 | $ 1,118,556 |
REPORTING ENTITY - Sale of BA_3
REPORTING ENTITY - Sale of BAC Holding - Cash flow (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Dec. 14, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Effect of realization OCI to income | $ 458,930 | $ (2,752,028) | $ 532,019 | |
Net income from discontinued operations, net of tax | (866,166) | (1,627,312) | ||
Net income attributable to owners of the parent - Net income for the period from discontinued operations, net of tax | (593,990) | (1,118,556) | ||
Net cash provided (used in) operating activities | 6,005,501 | (222,124) | 5,901,630 | |
Cash flows from investing activities: | ||||
Net cash Provided (used) in investing activities | 1,840,647 | (13,012,475) | (6,601,941) | |
Net cash used in financing activities | (3,536,885) | (8,570,692) | (1,345,950) | |
Effect of foreign currency changes on cash and cash equivalents | (2,744,259) | 3,588,921 | 4,663,555 | |
Decrease in cash and cash equivalents | (1,393,602) | |||
Increase (decrease) in cash and cash equivalents | 1,565,004 | (19,609,972) | 2,617,294 | |
Cash and cash equivalents at beginning of year | 17,032,857 | 36,642,829 | 34,025,535 | |
Cash and cash equivalents at end of year | 18,597,861 | 17,032,857 | 36,642,829 | |
BAC Holding International Corp | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Effect of realization OCI to income | 1,429,325 | |||
Net income from discontinued operations, net of tax | (866,166) | |||
Net income attributable to owners of the parent - Net income for the period from discontinued operations, net of tax | (593,990) | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Sale [Member] | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Net income from discontinued operations | $ 1,108,049 | |||
Effect of realization OCI to income | 376,703 | 1,429,325 | ||
Net income from discontinued operations, net of tax | 731,346 | (866,166) | (1,118,556) | |
Net income attributable to owners of the parent - Net income for the period from discontinued operations, net of tax | 504,083 | |||
Increase (decrease) in working capital | 1,108,049 | |||
Net cash provided (used in) operating activities | (1,359,709) | |||
Cash flows from investing activities: | ||||
Loss of control in subsidiary | (17,570,390) | (18,963,992) | ||
Proceeds from sale of investments in associates | 2,645,914 | |||
Net cash Provided (used) in investing activities | 2,645,914 | (14,924,476) | (18,963,992) | |
Decrease in cash and cash equivalents | (1,393,602) | 838,598 | ||
Increase (decrease) in cash and cash equivalents | 2,645,914 | (16,318,078) | (18,125,394) | |
Cash and cash equivalents at beginning of year | $ 2,645,914 | 18,963,992 | 18,125,394 | |
Cash and cash equivalents at end of year | $ 2,645,914 | $ 2,645,914 | $ 18,963,992 |
REPORTING ENTITY - Sale of BA_4
REPORTING ENTITY - Sale of BAC Holding - Summary of discontinued operations (Details) - COP ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Dec. 14, 2022 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 26,534,115 | $ 17,559,516 | $ 11,882,144 | ||
Investments in debt securities | 2,385,289 | 1,843,516 | 909,265 | ||
Total interest income | 28,919,404 | 19,403,032 | 12,791,409 | ||
Interest expense | |||||
Checking accounts | (253,043) | (159,114) | (62,378) | ||
Savings accounts | (5,953,426) | (3,555,844) | (875,439) | ||
Time deposits | (9,944,424) | (4,040,232) | (1,700,128) | ||
Interest expense on deposits from customers | (16,214,226) | (7,756,432) | (2,637,945) | ||
Financial obligations | |||||
Interbank borrowings and overnight funds | (1,856,263) | (678,114) | (162,455) | ||
Borrowings from banks and similar | (1,601,927) | (739,803) | (401,742) | ||
Bonds issued | (2,159,948) | (2,092,843) | (1,368,660) | ||
Total Financial obligations | (6,418,204) | (3,907,963) | (2,022,885) | ||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (4,751,039) | (3,120,403) | (3,192,335) | ||
Other financial assets | 12,871 | (16,723) | (660) | ||
Recovery of charged-off financial assets | 555,774 | 643,978 | 471,912 | ||
Net impairment loss on financial assets | (4,182,394) | (2,493,148) | (2,721,083) | ||
Net interest income, after impairment losses | 2,104,580 | 5,245,489 | 5,409,496 | ||
Income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 | ||
Expenses from commissions and fees | (1,003,813) | (970,676) | (731,742) | ||
Net income from commissions and fees | 3,352,523 | 2,903,763 | 3,064,187 | ||
Net trading (loss) income | (916,049) | 1,559,626 | 922,281 | ||
Other expenses | (8,346,454) | (7,409,783) | (6,790,056) | ||
Net income before tax expense | 3,487,550 | 6,274,371 | 6,364,618 | ||
Net reclassifications of Other Comprehensive Income | $ 458,930 | (2,752,028) | 532,019 | ||
Net income from discontinued operations, net of tax | 866,166 | 1,627,312 | |||
Net income for the year attributable to: | |||||
Owners of the parent | 593,990 | 1,118,556 | |||
Non-controlling interests | 272,176 | 508,756 | |||
Net income from discontinued operations, net of tax | $ 866,166 | $ 1,627,312 | |||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | $ 50.20 | |||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | $ 50.20 | |||
BAC Holding International Corp | |||||
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 1,684,995 | ||||
Investments in debt securities | 164,424 | ||||
Total interest income | 1,849,419 | ||||
Interest expense | |||||
Checking accounts | (47,739) | ||||
Savings accounts | (53,608) | ||||
Time deposits | (324,670) | ||||
Interest expense on deposits from customers | (426,017) | ||||
Financial obligations | |||||
Interbank borrowings and overnight funds | (253) | ||||
Borrowings from banks and similar | (66,621) | ||||
Bonds issued | (61,195) | ||||
Total Financial obligations | (128,069) | ||||
Net interest income | 1,295,333 | ||||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (264,926) | ||||
Other financial assets | (2,850) | ||||
Net impairment loss on financial assets | (267,776) | ||||
Net interest income, after impairment losses | 1,027,557 | ||||
Income from commissions and fees | 753,523 | ||||
Expenses from commissions and fees | (30,396) | ||||
Net income from commissions and fees | 723,127 | ||||
Net trading (loss) income | 953 | ||||
Other income | 543,073 | ||||
Other expenses | (2,633,765) | ||||
Net income before tax expense | (339,055) | ||||
Income tax expense | (224,104) | ||||
Net income (loss) from discontinued operations | (563,159) | ||||
Net reclassifications of Other Comprehensive Income | 1,429,325 | ||||
Net income from discontinued operations, net of tax | 866,166 | ||||
Net income for the year attributable to: | |||||
Owners of the parent | 593,990 | ||||
Non-controlling interests | 272,177 | ||||
Net income from discontinued operations, net of tax | $ 866,166 | ||||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | ||||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 25.67 | ||||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||||
Interest income calculated using the effective interest method | |||||
Loan portfolio | $ 1,684,995 | ||||
Investments in debt securities | 164,424 | ||||
Total interest income | 1,849,419 | ||||
Interest expense | |||||
Checking accounts | (47,739) | ||||
Savings accounts | (53,608) | ||||
Time deposits | (324,670) | ||||
Interest expense on deposits from customers | (426,017) | ||||
Financial obligations | |||||
Interbank borrowings and overnight funds | (253) | ||||
Borrowings from banks and similar | (66,621) | ||||
Bonds issued | (61,195) | ||||
Total Financial obligations | (128,069) | ||||
Net interest income | 1,295,333 | ||||
Impairment (losses) recoveries on financial assets | |||||
Loans and other accounts receivable | (264,926) | ||||
Other financial assets | (2,850) | ||||
Net impairment loss on financial assets | (267,776) | ||||
Net interest income, after impairment losses | 1,027,557 | ||||
Income from commissions and fees | 753,523 | ||||
Expenses from commissions and fees | (30,396) | ||||
Net income from commissions and fees | 723,127 | ||||
Net trading (loss) income | 953 | ||||
Other income | 291,413 | ||||
Other expenses | (1,274,056) | ||||
Net income before tax expense | 768,994 | ||||
Income tax expense | (224,104) | ||||
Net income (loss) from discontinued operations | 544,890 | ||||
Net reclassifications of Other Comprehensive Income | 1,052,622 | ||||
Net income from discontinued operations, net of tax | 1,597,512 | ||||
Net income for the year attributable to: | |||||
Owners of the parent | 1,098,073 | ||||
Non-controlling interests | 499,439 | ||||
Net income from discontinued operations, net of tax | $ 1,597,512 | ||||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 47.45 | ||||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ 47.45 | ||||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Sale [Member] | |||||
Impairment (losses) recoveries on financial assets | |||||
Other income | $ 251,660 | ||||
Other expenses | (1,359,709) | ||||
Net income before tax expense | (1,108,049) | ||||
Net income (loss) from discontinued operations | (1,108,049) | $ 796,550 | $ 1,118,556 | ||
Net reclassifications of Other Comprehensive Income | 376,703 | 1,429,325 | |||
Net income from discontinued operations, net of tax | (731,346) | 866,166 | 1,118,556 | ||
Net income for the year attributable to: | |||||
Owners of the parent | (504,083) | ||||
Non-controlling interests | (227,262) | ||||
Net income from discontinued operations, net of tax | $ (731,346) | $ 866,166 | $ 1,118,556 | ||
Net income per share basic (in Colombian pesos, see note 25.3 "Earnings per share"). | $ (21.78) | ||||
Net income per share diluted (in Colombian pesos, see note 25.3 "Earnings per share"). | $ (21.78) |
BASIS OF PREPARATION OF THE C_4
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Textual (Details) - $ / $ | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of voluntary change in accounting policy [line items] | |||
Closing foreign exchange rate | 3,822.05 | 4,810.20 | 3,981.16 |
Bottom of range [member] | |||
Disclosure of voluntary change in accounting policy [line items] | |||
Proportion of ownership interest in associate | 20% |
BASIS OF PREPARATION OF THE C_5
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Property, plant and equipment for own use (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Rubber [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 35 years |
African oil palm [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 25 years |
Gas pipelines | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 70 years |
Bottom of range [member] | Office equipment [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 3 years |
Bottom of range [member] | Machinery [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 5 years |
Bottom of range [member] | Computer equipment [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 3 years |
Bottom of range [member] | Vehicles [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 5 years |
Bottom of range [member] | Bearer plants [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 25 years |
Top of range [member] | Office equipment [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 10 years |
Top of range [member] | Machinery [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 25 years |
Top of range [member] | Computer equipment [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 12 years |
Top of range [member] | Vehicles [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 10 years |
Top of range [member] | Bearer plants [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Useful lives or depreciation rates, property, plant and equipment | 35 years |
BASIS OF PREPARATION OF THE C_6
BASIS OF PREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF MATERIAL ACCOUNTING POLICIES - Other intangible assets (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Recipes, formulae, models, designs and prototypes [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 10 years |
Bottom of range [member] | Computer software [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 1 year |
Bottom of range [member] | Licences [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 1 year |
Bottom of range [member] | Customer-related intangible assets [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 1 year |
Bottom of range [member] | Copyrights, patents and other industrial property rights, service and operating rights [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 1 year |
Bottom of range [member] | Easements [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 20 years |
Top of range [member] | Computer software [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 20 years |
Top of range [member] | Licences [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 15 years |
Top of range [member] | Customer-related intangible assets [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 10 years |
Top of range [member] | Copyrights, patents and other industrial property rights, service and operating rights [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 20 years |
Top of range [member] | Easements [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets estimated useful lives | 50 years |
RISK MANAGEMENT - Consolidated
RISK MANAGEMENT - Consolidated credit risk exposure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | $ 269,560,244 | $ 263,369,003 |
Exposure to credit risk outside of the statement of financial position | 29,798,544 | 31,008,169 |
Maximum exposure to credit risk | 299,358,788 | 294,377,172 |
Loan commitments and financial guarantee contracts [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Exposure to credit risk outside of the statement of financial position | 29,798,544 | 31,008,169 |
Financial guarantee contracts [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Exposure to credit risk outside of the statement of financial position | 3,052,607 | 4,679,653 |
Loan commitments [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Exposure to credit risk outside of the statement of financial position | 26,745,937 | 26,328,516 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 186,203,770 | 188,313,361 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 107,047,817 | 104,775,099 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 392,607 | 5,967,743 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 59,999,611 | 59,419,444 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 18,486,206 | 17,883,355 |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 277,529 | 267,720 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 3,830,916 | 3,507,231 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 14,788,750 | 13,234,832 |
Debt securities [member] | Investment securities at amortised cost [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 23,326,776 | 22,461,805 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Maximum exposure to credit risk, financial assets | $ 48,662 | $ 20,854 |
RISK MANAGEMENT - Loans are rec
RISK MANAGEMENT - Loans are recorded at amortized cost (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Gross carrying amount [member] | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Gross carrying amount [member] | Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Gross carrying amount [member] | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Gross carrying amount [member] | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Gross carrying amount [member] | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Gross carrying amount [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Gross carrying amount [member] | Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | 317,739 | 372,321 |
Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,521,501) | (9,694,456) | ||
Accumulated impairment [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,438,261) | (9,616,860) | ||
Accumulated impairment [member] | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,035,715) | (9,197,514) | (11,275,612) | (10,905,171) |
Accumulated impairment [member] | Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (5,294,622) | (5,494,190) | ||
Accumulated impairment [member] | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (22) | (1,444) | (2,386) | (851) |
Accumulated impairment [member] | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (5,294,600) | (5,492,746) | (5,854,745) | (5,280,406) |
Accumulated impairment [member] | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (4,307,446) | (3,311,912) | (4,581,004) | (4,938,971) |
Accumulated impairment [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (379,987) | (352,441) | (732,407) | (560,904) |
Accumulated impairment [member] | Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ (53,660) | $ (38,971) | $ (105,070) | $ (124,039) |
RISK MANAGEMENT - Loan portfoli
RISK MANAGEMENT - Loan portfolio given as collateral (Details) $ in Millions | Dec. 31, 2023 COP ($) |
Disclosure of risk management [abstract] | |
Loan portfolio delivered as collateral | $ 0 |
RISK MANAGEMENT - Probability o
RISK MANAGEMENT - Probability of default analysis (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | $ 269,560,244 | $ 263,369,003 |
Exposure to credit risk outside of the statement of financial position | 29,798,544 | 31,008,169 |
Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 29,798,544 | 31,008,169 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 186,203,770 | 188,313,361 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 107,047,817 | 104,775,099 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 392,607 | 5,967,743 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 59,999,611 | 59,419,444 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 18,486,206 | 17,883,355 |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 277,529 | 267,720 |
0% - 7.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 26,635,121 | 27,036,822 |
0% - 7.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 157,477,318 | 159,544,526 |
0% - 7.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 90,369,120 | 87,377,945 |
0% - 7.5% | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 392,607 | 5,967,742 |
0% - 7.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 49,844,542 | 50,343,679 |
0% - 7.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 16,703,178 | 15,701,061 |
0% - 7.5% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 167,871 | 154,099 |
7.5% - 15% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,118,635 | 1,340,672 |
7.5% - 15% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 9,493,176 | 8,680,422 |
7.5% - 15% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 5,292,513 | 4,603,020 |
7.5% - 15% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,792,346 | 3,027,668 |
7.5% - 15% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 381,893 | 1,009,155 |
7.5% - 15% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 26,424 | 40,579 |
15% - 22.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,715,107 | 1,875,939 |
15% - 22.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,090,031 | 1,328,384 |
15% - 22.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 290,761 | 228,796 |
15% - 22.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 628,643 | 932,283 |
15% - 22.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 156,150 | 159,987 |
15% - 22.5% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 14,477 | 7,318 |
22.5% - 30% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 13,611 | 235,000 |
22.5% - 30% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,029,751 | 886,922 |
22.5% - 30% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 371,940 | 306,484 |
22.5% - 30% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 591,038 | 373,449 |
22.5% - 30% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 58,586 | 194,546 |
22.5% - 30% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 8,187 | 12,443 |
30% - 45% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 147,062 | 306,069 |
30% - 45% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,238,438 | 3,748,293 |
30% - 45% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,419,479 | 2,761,276 |
30% - 45% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 594,958 | 927,034 |
30% - 45% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 220,303 | 56,227 |
30% - 45% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,698 | 3,756 |
45% - 60% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 3,075 | 80,594 |
45% - 60% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 604,939 | 902,763 |
45% - 60% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 29,644 | 275,210 |
45% - 60% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 409,229 | 506,786 |
45% - 60% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 160,225 | 115,992 |
45% - 60% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 5,841 | 4,775 |
60% - 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,485 | 48,891 |
60% - 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,674,345 | 1,551,415 |
60% - 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 81,812 | 72,972 |
60% - 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,377,873 | 1,316,118 |
60% - 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 200,657 | 148,793 |
60% - 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 14,003 | 13,532 |
> 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 164,448 | 84,182 |
> 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 12,595,772 | 11,670,636 |
> 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 9,192,548 | 9,149,396 |
> 90% | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1 | |
> 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,760,982 | 1,992,427 |
> 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 605,214 | 497,594 |
> 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 37,028 | 31,218 |
12-month expected credit losses [member] | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 26,817,149 | 27,088,361 |
12-month expected credit losses [member] | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 164,524,561 | 164,906,023 |
12-month expected credit losses [member] | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 94,328,300 | 89,958,234 |
12-month expected credit losses [member] | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 392,607 | 5,967,742 |
12-month expected credit losses [member] | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 52,856,109 | 52,529,128 |
12-month expected credit losses [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 16,720,997 | 16,226,428 |
12-month expected credit losses [member] | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 226,548 | 224,491 |
12-month expected credit losses [member] | 0% - 7.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 26,560,070 | 26,786,851 |
12-month expected credit losses [member] | 0% - 7.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 155,352,194 | 157,604,135 |
12-month expected credit losses [member] | 0% - 7.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 89,446,752 | 86,598,568 |
12-month expected credit losses [member] | 0% - 7.5% | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 392,607 | 5,967,742 |
12-month expected credit losses [member] | 0% - 7.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 48,882,951 | 49,264,495 |
12-month expected credit losses [member] | 0% - 7.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 16,462,013 | 15,619,231 |
12-month expected credit losses [member] | 0% - 7.5% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 167,871 | 154,099 |
12-month expected credit losses [member] | 7.5% - 15% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 217,078 | 286,943 |
12-month expected credit losses [member] | 7.5% - 15% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 8,001,193 | 6,335,608 |
12-month expected credit losses [member] | 7.5% - 15% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 4,619,984 | 3,221,994 |
12-month expected credit losses [member] | 7.5% - 15% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,162,195 | 2,552,075 |
12-month expected credit losses [member] | 7.5% - 15% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 192,612 | 520,960 |
12-month expected credit losses [member] | 7.5% - 15% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 26,402 | 40,579 |
12-month expected credit losses [member] | 15% - 22.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 30,108 | 10,450 |
12-month expected credit losses [member] | 15% - 22.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 635,366 | 714,742 |
12-month expected credit losses [member] | 15% - 22.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 149,734 | 72,734 |
12-month expected credit losses [member] | 15% - 22.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 407,118 | 551,430 |
12-month expected credit losses [member] | 15% - 22.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 64,124 | 83,260 |
12-month expected credit losses [member] | 15% - 22.5% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 14,390 | 7,318 |
12-month expected credit losses [member] | 22.5% - 30% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 8,822 | 2,033 |
12-month expected credit losses [member] | 22.5% - 30% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 372,476 | 82,591 |
12-month expected credit losses [member] | 22.5% - 30% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 75,014 | 6,479 |
12-month expected credit losses [member] | 22.5% - 30% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 287,632 | 61,468 |
12-month expected credit losses [member] | 22.5% - 30% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,654 | 2,201 |
12-month expected credit losses [member] | 22.5% - 30% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 8,176 | 12,443 |
12-month expected credit losses [member] | 30% - 45% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,059 | 1,469 |
12-month expected credit losses [member] | 30% - 45% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 122,410 | 105,034 |
12-month expected credit losses [member] | 30% - 45% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 35,159 | 44,889 |
12-month expected credit losses [member] | 30% - 45% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 83,212 | 55,980 |
12-month expected credit losses [member] | 30% - 45% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 594 | 776 |
12-month expected credit losses [member] | 30% - 45% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,445 | 3,389 |
12-month expected credit losses [member] | 45% - 60% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 2 | 83 |
12-month expected credit losses [member] | 45% - 60% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 10,436 | 59,209 |
12-month expected credit losses [member] | 45% - 60% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 12,023 | |
12-month expected credit losses [member] | 45% - 60% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 5,394 | 42,850 |
12-month expected credit losses [member] | 45% - 60% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 5,042 | 4,336 |
12-month expected credit losses [member] | 60% - 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 9 | 532 |
12-month expected credit losses [member] | 60% - 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 30,479 | 2,306 |
12-month expected credit losses [member] | 60% - 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,652 | 1,446 |
12-month expected credit losses [member] | 60% - 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 27,605 | 578 |
12-month expected credit losses [member] | 60% - 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,222 | 282 |
12-month expected credit losses [member] | > 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1 | |
12-month expected credit losses [member] | > 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 7 | 2,398 |
12-month expected credit losses [member] | > 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 5 | 101 |
12-month expected credit losses [member] | > 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2 | 252 |
12-month expected credit losses [member] | > 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,045 | |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 2,816,123 | 3,833,077 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 9,114,047 | 11,774,908 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,530,534 | 5,672,094 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 4,408,775 | 4,928,963 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,160,785 | 1,159,795 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 13,953 | 14,056 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 74,846 | 249,902 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,123,462 | 1,939,187 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 922,338 | 779,368 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 959,967 | 1,077,991 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 241,157 | 81,828 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 901,543 | 1,053,719 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,491,965 | 2,344,810 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 672,515 | 1,381,026 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 630,148 | 475,589 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 189,280 | 488,195 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 22 | |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,684,982 | 1,865,391 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 454,652 | 613,626 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 141,027 | 156,062 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 221,512 | 380,837 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 92,026 | 76,727 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 87 | |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 4,715 | 232,787 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 657,258 | 804,305 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 296,926 | 299,999 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 303,389 | 311,962 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 56,932 | 192,344 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 11 | |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 145,865 | 303,823 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,115,980 | 3,643,179 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,384,320 | 2,716,387 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 511,700 | 870,976 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 219,707 | 55,449 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 253 | 367 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 2,821 | 79,811 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 594,121 | 843,511 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 29,600 | 263,181 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 403,500 | 463,902 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 160,222 | 115,989 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 799 | 439 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 1,050 | 47,631 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,640,781 | 1,545,507 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 79,911 | 70,843 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,347,432 | 1,312,625 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 200,657 | 148,789 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 12,781 | 13,250 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 301 | 13 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 35,828 | 40,783 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,897 | 5,228 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 31,127 | 35,081 |
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 804 | 474 |
Financial instruments credit-impaired [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 604,424 | 497,132 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 165,272 | 86,731 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 12,565,162 | 11,632,430 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 9,188,983 | 9,144,771 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,734,727 | 1,961,353 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 604,424 | 497,132 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 37,028 | 29,173 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 205 | 69 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,662 | 1,204 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 30 | 9 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1,624 | 1,193 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 0% - 7.5% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 8 | 2 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 14 | 10 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 18 | 4 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 14 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3 | 4 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 7.5% - 15% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 17 | 98 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 13 | 16 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 15% - 22.5% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 13 | 16 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 74 | 180 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 17 | 26 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 6 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 17 | 19 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 22.5% - 30% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 138 | 777 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 48 | 80 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 46 | 78 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 30% - 45% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2 | 2 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 252 | 700 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 382 | 43 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 44 | 6 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 335 | 34 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 45% - 60% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3 | 3 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 426 | 728 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 3,085 | 3,602 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 249 | 683 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,836 | 2,915 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | 60% - 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 4 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loan commitments and financial guarantee contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk outside of the statement of financial position | 164,146 | 84,169 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 12,559,937 | 11,627,455 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 9,188,646 | 9,144,067 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 1 | |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 2,729,853 | 1,957,094 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | 604,410 | 497,120 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | > 90% | Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk, financial assets | $ 37,028 | $ 29,173 |
RISK MANAGEMENT - Credit qualit
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Trading investments in debt securities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,136,270 | 2,912,653 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 976,832 | 848,170 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 278 | 64 |
Sovereign | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,764,699 | 2,721,755 |
Sovereign | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 62,213 | 157,246 |
Other Public Entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 18,886 | 12,202 |
Other Public Entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 136,851 | 181,948 |
Corporate | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,412 | 112 |
Corporate | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 42,581 | 33,880 |
Corporate | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 278 | 64 |
Financial Entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 349,273 | 178,584 |
Financial Entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 735,187 | 473,223 |
Multilaterals | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,873 |
RISK MANAGEMENT - Credit qual_2
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at FVTPL (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Investment securities at fair value [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Corporate | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,889 | $ 1,378 |
RISK MANAGEMENT - Credit qual_3
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at FVOCI (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Investment securities at fair value [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 18,659,060 | 17,993,586 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,491,773 | 4,435,264 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,943 | 32,955 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 18,659,060 | 17,993,586 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,491,773 | 4,435,264 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,943 | 32,955 |
Sovereign | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,879,453 | 16,247,220 |
Sovereign | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,418,378 | 2,702,107 |
Sovereign | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,879,453 | 16,247,220 |
Sovereign | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,418,378 | 2,702,107 |
Other Public Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 123,996 | 109,246 |
Other Public Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 739,792 | 680,002 |
Other Public Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 123,996 | 109,246 |
Other Public Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 739,792 | 680,002 |
Central Banks | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 145,489 | 194,098 |
Central Banks | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 145,489 | 194,098 |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 93,637 | 124,587 |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 273,144 | 245,734 |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,943 | |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 93,637 | 124,587 |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 273,144 | 245,734 |
Corporate | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,943 | |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,085,737 | 840,545 |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,056,910 | 782,359 |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,955 | |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,085,737 | 840,545 |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,056,910 | 782,359 |
Financial Entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,955 | |
Multilaterals | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 330,748 | 477,890 |
Multilaterals | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,549 | 25,062 |
Multilaterals | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 330,748 | 477,890 |
Multilaterals | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 3,549 | $ 25,062 |
RISK MANAGEMENT - Credit qual_4
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Investments in debt securities at amortized cost (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Investment securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,442,575 | 33,711,407 |
Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,438,606 | 35,995,562 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,610,056 | 2,362,096 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,181,940 | 7,102,559 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 204,565 | 306,837 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,936,217 | 9,665,844 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,610,056 | 2,362,096 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,181,940 | 7,102,559 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 144,221 | 201,189 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 60,344 | 105,648 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 60,344 | 105,648 |
Sovereign | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,593,978 | 2,333,070 |
Sovereign | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,593,978 | 2,333,070 |
Other Public Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,112,355 | 4,509,839 |
Other Public Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,112,355 | 4,509,839 |
Corporate | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 63,824 | 72,390 |
Corporate | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 143,410 | 237,537 |
Corporate | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 63,824 | 72,390 |
Corporate | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 83,066 | 157,338 |
Corporate | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 60,344 | 80,199 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,016,078 | 29,026 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,761 | 2,520,330 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 61,155 | 69,300 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,016,078 | 29,026 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,761 | 2,520,330 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 61,155 | 43,851 |
Financial Entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 25,449 |
RISK MANAGEMENT - Credit qual_5
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at FVTPL (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,812,820 | 16,153,016 |
Service concession arrangements [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,821,214 | 16,161,187 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 3,830,916 | $ 3,507,231 |
RISK MANAGEMENT - Credit qual_6
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - General (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,713,547 | 14,315,166 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 119,607 | 145,724 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 186,364 | 181,992 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,571,534 | 13,231,073 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,569,999 | 13,231,073 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,535 | |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,447,984 | 1,411,809 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,143,548 | 1,084,093 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 119,607 | 145,724 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 184,829 | 181,992 |
Other accounts receivable, simplified approach | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 6,152,455 | $ 5,612,876 |
RISK MANAGEMENT - Credit qual_7
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using general approach - Other accounts receivable and contract assets for corporate customers (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | 12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,713,547 | 14,315,166 |
Other accounts receivable at amortized cost [member] | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 119,607 | 145,724 |
Other accounts receivable at amortized cost [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 186,364 | 181,992 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,571,534 | 13,231,073 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | 12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,569,999 | 13,231,073 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,535 | |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, sovereign [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 13,990,298 | 12,653,956 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, sovereign [member] | 12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 13,990,298 | 12,653,956 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, corporate [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,535 | |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, corporate [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,535 | |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, financial entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 579,701 | 577,117 |
Other accounts receivable, general approach, other accounts receivables and contract assets for government and corporate customers, financial entities [member] | 12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 579,701 | $ 577,117 |
RISK MANAGEMENT - Credit qual_8
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using general approach - By segment (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,713,547 | 14,315,166 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 119,607 | 145,724 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 186,364 | 181,992 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,447,984 | 1,411,809 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,143,548 | 1,084,093 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 119,607 | 145,724 |
Other accounts receivable, general approach, other accounts receivables related to gas, energy services, contributions and others | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 184,829 | 181,992 |
Other accounts receivable, general approach, other accounts receivables related to contributions [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,148 | 151,923 |
Other accounts receivable, general approach, other accounts receivables related to contributions [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,148 | 151,923 |
Other accounts receivable, general approach, other accounts receivables related to gas [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 923,285 | 923,220 |
Other accounts receivable, general approach, other accounts receivables related to gas [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 709,422 | 692,169 |
Other accounts receivable, general approach, other accounts receivables related to gas [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 111,786 | 141,218 |
Other accounts receivable, general approach, other accounts receivables related to gas [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 102,077 | 89,833 |
Other accounts receivable, general approach, other accounts receivables related to energy services [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,533 | 175,282 |
Other accounts receivable, general approach, other accounts receivables related to energy services [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 84,960 | 78,617 |
Other accounts receivable, general approach, other accounts receivables related to energy services [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,821 | 4,506 |
Other accounts receivable, general approach, other accounts receivables related to energy services [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 82,752 | 92,159 |
Other accounts receivable, general approach, other accounts receivables related to others [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 261,018 | 161,384 |
Other accounts receivable, general approach, other accounts receivables related to others [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | 12-month expected credit losses [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 261,018 | $ 161,384 |
RISK MANAGEMENT - Credit qual_9
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Other accounts receivable at amortized cost - Evaluated using simplified approach (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,521,501) | (9,694,456) |
Trade Receivables And Contract Assets From Individual Customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,152,455 | 5,612,876 |
Trade Receivables And Contract Assets From Individual Customers | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 924,037 | 567,819 |
Trade Receivables And Contract Assets From Individual Customers | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (189,485) | $ (173,332) |
Trade Receivables And Contract Assets From Individual Customers | Not later than one month [member] | ||
Disclosure of financial assets [line items] | ||
Expected credit loss rate | 0.18% | 0.03% |
Financial assets | $ 4,949,057 | $ 4,884,653 |
Trade Receivables And Contract Assets From Individual Customers | Not later than one month [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (8,889) | $ (1,269) |
Trade Receivables And Contract Assets From Individual Customers | From 31 to 60 days [member] | ||
Disclosure of financial assets [line items] | ||
Expected credit loss rate | 0.36% | 0.87% |
Financial assets | $ 173,165 | $ 94,105 |
Trade Receivables And Contract Assets From Individual Customers | From 31 to 60 days [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (621) | $ (821) |
Trade Receivables And Contract Assets From Individual Customers | From 61 to 90 days [member] | ||
Disclosure of financial assets [line items] | ||
Expected credit loss rate | 1.89% | 0.71% |
Financial assets | $ 106,196 | $ 66,299 |
Trade Receivables And Contract Assets From Individual Customers | From 61 to 90 days [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (2,007) | $ (470) |
Trade Receivables And Contract Assets From Individual Customers | More than 90 days past due | ||
Disclosure of financial assets [line items] | ||
Expected credit loss rate | 19.26% | 30.08% |
Financial assets | $ 924,037 | $ 567,819 |
Trade Receivables And Contract Assets From Individual Customers | More than 90 days past due | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 924,037 | 567,819 |
Trade Receivables And Contract Assets From Individual Customers | More than 90 days past due | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (177,968) | $ (170,772) |
RISK MANAGEMENT - Credit qua_10
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,398,093 | 1,257,143 |
Derivatives [member] | Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,274 | 4,165 |
Derivatives [member] | Without grade or not available [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 705,862 | $ 800,951 |
RISK MANAGEMENT - Credit qua_11
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Trading derivatives - Assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Notional amount | 77,206,096 | 72,500,745 |
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Central counterparties [member] | ||
Disclosure of financial assets [line items] | ||
Notional amount | 30,658,137 | 29,203,700 |
Financial assets | $ 4,272 | $ 12,991 |
RISK MANAGEMENT - Credit qua_12
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Trading derivatives - Liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | 64,716,179 | 62,639,638 |
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Central counterparties [member] | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | 15,739,527 | 20,116,392 |
Financial liabilities | $ 10,399 | $ 11,213 |
RISK MANAGEMENT - Credit qua_13
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Hedging derivatives - Assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Notional amount | 3,765,455 | 829,105 |
Financial assets | $ 48,662 | $ 20,854 |
RISK MANAGEMENT - Credit qua_14
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Hedging derivatives - Liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Notional amount | 5,109,351 | 533,829 |
Financial liabilities | $ 217,566 | $ 3,568 |
RISK MANAGEMENT - Credit qua_15
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Derivative instruments - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of risk management [abstract] | ||
Collateralization of cash | $ (1,035,846) | $ (1,224,414) |
RISK MANAGEMENT - Credit qua_16
RISK MANAGEMENT - Credit quality of financial assets (excluding loan portfolio) - Cash and cash equivalents (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Cash equivalents | $ 14,788,750 | $ 13,234,832 | ||
Cash held by entity | 3,809,111 | 3,798,025 | ||
Total cash and cash equivalents | 18,597,861 | 17,032,857 | $ 36,642,829 | $ 34,025,535 |
Investment grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 13,537,699 | 12,051,274 | ||
Speculative grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 1,228,856 | 1,148,798 | ||
Without grade or not available [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 22,195 | 34,760 | ||
Central bank | Investment grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 6,857,510 | 4,541,687 | ||
Central bank | Speculative grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 466 | 2,058 | ||
Financial entities | Investment grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 6,678,693 | 7,509,587 | ||
Financial entities | Speculative grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 1,228,390 | 1,146,740 | ||
Financial entities | Without grade or not available [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | 22,195 | $ 34,760 | ||
Others | Investment grade [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash equivalents | $ 1,496 |
RISK MANAGEMENT - Mitigation of
RISK MANAGEMENT - Mitigation of credit risk, collateral and other (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Credit exposure | $ 269,560,244 | $ 263,369,003 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 186,203,770 | 188,313,361 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 18,486,206 | 17,883,355 |
Less than 50% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 7,784,742 | 6,828,495 |
51 - 70% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 6,379,677 | 6,139,066 |
71 - 90% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 3,281,508 | 3,595,794 |
91 - 100% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 771,664 | 1,019,031 |
More than 100% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 268,615 | 300,969 |
Financial instruments credit-impaired [member] | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 604,424 | 497,132 |
Financial instruments credit-impaired [member] | Less than 50% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 146,489 | 141,621 |
Financial instruments credit-impaired [member] | 51 - 70% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 252,655 | 184,151 |
Financial instruments credit-impaired [member] | More than 70% | Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Credit exposure | $ 205,280 | $ 171,360 |
RISK MANAGEMENT - Credit portfo
RISK MANAGEMENT - Credit portfolio per type of guarantees received (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 115,130,659 | 112,427,251 | ||
Loan portfolio [member] | Loans secured by other banks | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 202,776 | 322,837 | ||
Loan portfolio [member] | Collateralized Mortgages | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 17,906,981 | 16,664,467 | ||
Loan portfolio [member] | Collateralized other real estate | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 12,177,921 | 13,294,490 | ||
Loan portfolio [member] | Collateralized investments in equity instruments | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,474 | 410,669 | ||
Loan portfolio [member] | Collateralized deposits in cash or cash equivalents | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,247,587 | 1,580,177 | ||
Loan portfolio [member] | Collateralized leased machineries and vehicles | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,796,931 | 10,433,355 | ||
Loan portfolio [member] | Collateralized fiduciary agreements stand by letters and guarantee funds | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,740,747 | 9,953,270 | ||
Loan portfolio [member] | Collateralized pledged income | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,710,759 | 3,731,465 | ||
Loan portfolio [member] | Collateralized pledges | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 8,562,715 | 8,848,572 | ||
Loan portfolio [member] | Collateralized other assets | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6,334,220 | 10,646,808 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Commercial lending portfolio [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 60,462,815 | 57,471,266 | ||
Commercial lending portfolio [member] | Loans secured by other banks | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 202,667 | 322,063 | ||
Commercial lending portfolio [member] | Collateralized Mortgages | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,388,044 | 988,888 | ||
Commercial lending portfolio [member] | Collateralized other real estate | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 11,949,592 | 13,026,949 | ||
Commercial lending portfolio [member] | Collateralized investments in equity instruments | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,474 | 410,669 | ||
Commercial lending portfolio [member] | Collateralized deposits in cash or cash equivalents | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,101,686 | 1,412,983 | ||
Commercial lending portfolio [member] | Collateralized leased machineries and vehicles | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 8,715,508 | 8,148,297 | ||
Commercial lending portfolio [member] | Collateralized fiduciary agreements stand by letters and guarantee funds | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,654,206 | 9,822,855 | ||
Commercial lending portfolio [member] | Collateralized pledged income | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,710,759 | 3,731,465 | ||
Commercial lending portfolio [member] | Collateralized pledges | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,498,054 | 3,657,840 | ||
Commercial lending portfolio [member] | Collateralized other assets | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,972,012 | 5,781,824 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 88,588 | 1,179,355 | ||
Interbank and overnight funds [member] | Collateralized other assets | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 304,019 | 4,788,388 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Loans to consumers [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 54,320,369 | 53,550,006 | ||
Loans to consumers [member] | Loans secured by other banks | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 109 | 774 | ||
Loans to consumers [member] | Collateralized Mortgages | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 147,499 | 124,990 | ||
Loans to consumers [member] | Collateralized other real estate | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 226,614 | 260,832 | ||
Loans to consumers [member] | Collateralized deposits in cash or cash equivalents | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 145,901 | 167,194 | ||
Loans to consumers [member] | Collateralized leased machineries and vehicles | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 14,947 | 18,072 | ||
Loans to consumers [member] | Collateralized fiduciary agreements stand by letters and guarantee funds | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 21,705 | 31,166 | ||
Loans to consumers [member] | Collateralized pledges | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,064,634 | 5,190,680 | ||
Loans to consumers [member] | Collateralized other assets | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 57,833 | 75,730 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,277 | 2,042 | ||
Mortgage [member] | Collateralized Mortgages | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 16,370,941 | 15,549,938 | ||
Mortgage [member] | Collateralized other real estate | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,603 | 6,494 | ||
Mortgage [member] | Collateralized leased machineries and vehicles | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,066,476 | 2,266,986 | ||
Mortgage [member] | Collateralized fiduciary agreements stand by letters and guarantee funds | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 45,909 | 57,895 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | $ 317,739 | $ 372,321 |
Microcredit [member] | Unsecured credits | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 257,610 | 224,582 | ||
Microcredit [member] | Collateralized Mortgages | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 497 | 651 | ||
Microcredit [member] | Collateralized other real estate | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 112 | 215 | ||
Microcredit [member] | Collateralized fiduciary agreements stand by letters and guarantee funds | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,927 | 41,354 | ||
Microcredit [member] | Collateralized pledges | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 27 | 52 | ||
Microcredit [member] | Collateralized other assets | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 356 | $ 866 |
RISK MANAGEMENT - Identifiable
RISK MANAGEMENT - Identifiable collateral (Details) - Commercial lending portfolio [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets, identifiable collateral, carrying amount | $ 26,436,467 | $ 25,112,420 |
Financial assets, identifiable collateral, fair value | 18,425,401 | 18,221,974 |
Twelve-month expected credit losses and lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets, identifiable collateral, carrying amount | 23,484,250 | 22,537,899 |
Financial assets, identifiable collateral, fair value | 15,996,375 | 15,742,699 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets, identifiable collateral, carrying amount | 2,952,217 | 2,574,521 |
Financial assets, identifiable collateral, fair value | $ 2,429,026 | $ 2,479,275 |
RISK MANAGEMENT - Credit risk m
RISK MANAGEMENT - Credit risk model scenario tables (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Colombia | ||
Disclosure of financial assets [line items] | ||
Inflation | 9.28% | |
Interest rate | 13% | |
DTF Interest rate | 12.63% | |
GDP Growth | 0.60% | |
Unemployment rate | 10% | |
Colombia | Scenario A | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 4.44% | 7.93% |
Interest rate, one-year projection | 8% | |
DTF Interest rate, one-year projection | 7.10% | 8.64% |
GDP Growth, one-year projection | (1.07%) | (0.53%) |
Used home prices, one-year projection | (3.15%) | (1.48%) |
Unemployment rate, one-year projection | 11.96% | 11.15% |
Colombia | Scenario B | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 6.05% | 7.83% |
Interest rate, one-year projection | 8.75% | |
DTF Interest rate, one-year projection | 9.04% | 8.90% |
GDP Growth, one-year projection | 0.99% | 1.29% |
Used home prices, one-year projection | (2.11%) | 0.07% |
Unemployment rate, one-year projection | 10.43% | 10.44% |
Colombia | Scenario C | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 8.26% | 7.86% |
Interest rate, one-year projection | 9.25% | |
DTF Interest rate, one-year projection | 10.62% | 9.36% |
GDP Growth, one-year projection | 2.70% | 2.37% |
Used home prices, one-year projection | (1.02%) | 1.75% |
Unemployment rate, one-year projection | 8.77% | 9.46% |
Panama | ||
Disclosure of financial assets [line items] | ||
Inflation | 1.90% | |
Nominal interest rate variation | 0.64% | |
GDP Growth | 9% | |
Panama | Scenario A | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 2.80% | 4.23% |
Nominal interest rate variation, one-year projection | 0.57% | 1.31% |
GDP Growth, one-year projection | 7.03% | 4% |
Panama | Scenario B | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 2.32% | 3.62% |
Nominal interest rate variation, one-year projection | 0.52% | 0.46% |
GDP Growth, one-year projection | 7.64% | 4.58% |
Panama | Scenario C | ||
Disclosure of financial assets [line items] | ||
Inflation, one-year projection | 1.83% | 2.64% |
Nominal interest rate variation, one-year projection | 0.48% | 0.32% |
GDP Growth, one-year projection | 8.25% | 5.32% |
RISK MANAGEMENT - Scenario of p
RISK MANAGEMENT - Scenario of probability weighting in measuring ECL (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Colombia | Scenario A | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 27% | 28% |
Colombia | Scenario B | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 56% | 57% |
Colombia | Scenario C | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 17% | 15% |
Panama | Scenario A | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 10% | 5% |
Panama | Scenario B | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 50% | 75% |
Panama | Scenario C | ||
Disclosure of financial assets [line items] | ||
Scenario probability weighting in measuring ECL (as a percent) | 40% | 20% |
RISK MANAGEMENT - Credit risk_2
RISK MANAGEMENT - Credit risk model scenarios - Gross exposure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | $ 317,739 | $ 372,321 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 277,529 | $ 267,720 |
RISK MANAGEMENT - Credit risk_3
RISK MANAGEMENT - Credit risk model scenarios - Loss allowance (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ (280,746,878) | $ (274,682,875) | ||
Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,521,501 | 9,694,456 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (236,970,165) | (235,373,468) | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,438,261 | 9,616,860 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (176,168,055) | (179,115,847) | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,035,715 | 9,197,514 | $ 11,275,612 | $ 10,905,171 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,944,875 | 9,034,631 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,995,354 | 9,239,368 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,117,504 | 9,298,614 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (102,145,802) | (105,248,652) | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,294,622 | 5,494,190 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (101,753,217) | (99,282,353) | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,294,600 | 5,492,746 | 5,854,745 | 5,280,406 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,272,129 | 5,390,734 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,289,159 | 5,472,794 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,341,865 | 5,523,548 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (392,585) | (5,966,299) | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 22 | 1,444 | 2,386 | 851 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 127 | 10,311 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 126 | 11,275 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 136 | 11,997 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (55,692,165) | (56,107,532) | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 4,307,446 | 3,311,912 | 4,581,004 | 4,938,971 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 4,246,126 | 3,248,144 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 4,273,465 | 3,338,076 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 4,336,939 | 3,370,089 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (18,106,219) | (17,530,914) | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 379,987 | 352,441 | 732,407 | 560,904 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 372,739 | 347,828 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 378,986 | 378,471 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 384,902 | 352,819 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (223,869) | (228,749) | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 53,660 | 38,971 | $ 105,070 | $ 124,039 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario A | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 53,754 | 37,614 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario B | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 53,618 | 38,752 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Scenario C | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 53,662 | $ 40,161 |
RISK MANAGEMENT - Credit risk_4
RISK MANAGEMENT - Credit risk model scenarios - Proportion of assets in Stage 2 (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Commercial lending portfolio [member] | Scenario A | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 3.60% | 5.60% |
Commercial lending portfolio [member] | Scenario B | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 3.60% | 5.90% |
Commercial lending portfolio [member] | Scenario C | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 3.90% | 5.90% |
Loans to consumers [member] | Scenario A | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 6.90% | 8% |
Loans to consumers [member] | Scenario B | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 7.10% | 8.20% |
Loans to consumers [member] | Scenario C | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 7.60% | 8.60% |
Mortgage [member] | Scenario A | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5.60% | 6.30% |
Mortgage [member] | Scenario B | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5.70% | 6.40% |
Mortgage [member] | Scenario C | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5.70% | 6.50% |
Microcredit [member] | Scenario A | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5% | 5.20% |
Microcredit [member] | Scenario B | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5% | 5.20% |
Microcredit [member] | Scenario C | ||
Disclosure of financial assets [line items] | ||
Proportion of Assets in Stage 2 | 5% | 5.30% |
RISK MANAGEMENT - Credit risk_5
RISK MANAGEMENT - Credit risk model - Debt securities (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Sovereign | |||
Disclosure of financial assets [line items] | |||
LGD recovery rate weights | 50% | 53% | |
Corporate | |||
Disclosure of financial assets [line items] | |||
LGD recovery rate weights | 47.10% | 47.40% | 46.90% |
RISK MANAGEMENT - Credit risk_6
RISK MANAGEMENT - Credit risk model - Loss allowance (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | $ (280,746,878) | $ (274,682,875) | ||
Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 10,521,501 | 9,694,456 | ||
Accumulated impairment [member] | Loan commitments and financial guarantee contracts [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 70,268 | 64,910 | $ 62,041 | $ 67,393 |
Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,924,795 | 1,619,273 | ||
Accumulated impairment [member] | 12-month expected credit losses [member] | Loan commitments and financial guarantee contracts [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 61,637 | 58,160 | 45,916 | 57,226 |
Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,315,930 | 1,460,951 | ||
Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Loan commitments and financial guarantee contracts [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 7,682 | 6,461 | 10,097 | 8,679 |
Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 7,081,394 | 6,417,117 | ||
Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Loan commitments and financial guarantee contracts [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 949 | 289 | 6,028 | 1,488 |
Other accounts receivable, general approach | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 186,282 | 185,301 | 165,159 | 139,155 |
Other accounts receivable, general approach | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 25,965 | 24,977 | 18,939 | 18,136 |
Other accounts receivable, general approach | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 19,188 | 20,201 | 16,771 | 13,548 |
Other accounts receivable, general approach | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 141,129 | 140,123 | 129,449 | 107,471 |
Other accounts receivable, simplified approach | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 199,382 | 197,115 | ||
Other accounts receivable, simplified approach | Accumulated impairment [member] | Lifetime expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 199,382 | 197,115 | 217,643 | 203,902 |
Investment securities at fair value [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (24,446,014) | (23,939,915) | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (236,970,165) | (235,373,468) | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 10,438,261 | 9,616,860 | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,850,186 | 1,548,427 | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,308,248 | 1,454,490 | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 7,080,445 | 6,416,828 | ||
Financial assets at amortised cost, category [member] | Loan portfolio [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (176,168,055) | (179,115,847) | ||
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 10,035,715 | 9,197,514 | 11,275,612 | 10,905,171 |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,811,608 | 1,494,887 | 1,824,446 | 1,760,076 |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,284,791 | 1,425,922 | 2,703,117 | 3,039,056 |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 6,939,316 | 6,276,705 | 6,748,049 | 6,106,039 |
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (102,145,802) | (105,248,652) | ||
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 5,294,622 | 5,494,190 | ||
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (101,753,217) | (99,282,353) | ||
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 5,294,600 | 5,492,746 | 5,854,745 | 5,280,406 |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 612,441 | 598,538 | 655,655 | 656,830 |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 218,824 | 515,202 | 1,006,822 | 805,097 |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 4,463,335 | 4,379,006 | 4,192,268 | 3,818,479 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (392,585) | (5,966,299) | ||
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 22 | 1,444 | 2,386 | 851 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 22 | 1,444 | 2,386 | 792 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 59 | |||
Financial assets at amortised cost, category [member] | Loans to consumers [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (55,692,165) | (56,107,532) | ||
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 4,307,446 | 3,311,912 | 4,581,004 | 4,938,971 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 1,141,997 | 839,904 | 1,066,543 | 1,013,071 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 993,268 | 853,159 | 1,396,101 | 1,948,030 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 2,172,181 | 1,618,849 | 2,118,360 | 1,977,870 |
Financial assets at amortised cost, category [member] | Mortgage [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (18,106,219) | (17,530,914) | ||
Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 379,987 | 352,441 | 732,407 | 560,904 |
Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 45,080 | 48,763 | 93,122 | 72,294 |
Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 66,333 | 52,639 | 286,903 | 225,889 |
Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 268,574 | 251,039 | 352,382 | 262,721 |
Financial assets at amortised cost, category [member] | Microcredit [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (223,869) | (228,749) | ||
Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 53,660 | 38,971 | 105,070 | 124,039 |
Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 12,068 | 6,238 | 6,740 | 17,089 |
Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 6,366 | 4,922 | 13,291 | 60,040 |
Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 35,226 | 27,811 | 85,039 | 46,910 |
Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 385,664 | 382,416 | ||
Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 25,965 | 24,977 | ||
Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 19,188 | 20,201 | ||
Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 141,129 | 140,123 | ||
Financial assets at amortised cost, category [member] | Other accounts receivable, simplified approach | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 199,382 | 197,115 | ||
Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (23,326,776) | (22,461,805) | ||
Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 16,882 | 36,930 | 10,698 | 7,195 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 12,613 | 28,563 | 3,297 | 7,188 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 4,269 | 8,367 | 7,401 | 7 |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (23,326,776) | (22,461,805) | ||
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | (23,326,776) | (22,461,805) | ||
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | 12,972 | 12,686 | 123,978 | 96,486 |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | 12-month expected credit losses [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | $ 12,972 | $ 12,686 | $ 123,978 | 96,307 |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | ||||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||||
Financial assets | $ 179 |
RISK MANAGEMENT - Credit risk_7
RISK MANAGEMENT - Credit risk model - Impairment losses (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | $ 4,182,394 | $ 2,493,148 | $ 2,721,083 |
Loss allowance - costs and expenses of sales goods and services | (51,035) | (59,073) | (51,064) |
Financial assets at amortised cost, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 4,802,074 | 3,179,476 | 4,551,160 |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 4,725,410 | 3,100,835 | 4,470,862 |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 203,061 | 622,783 | 1,468,182 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | (1,422) | (942) | 1,535 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 4,426,014 | 2,498,699 | 2,813,445 |
Financial assets at amortised cost, category [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 65,856 | (25,202) | 170,176 |
Financial assets at amortised cost, category [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | 31,901 | 5,497 | 17,524 |
Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impairment loss | $ 76,664 | $ 78,641 | $ 80,298 |
RISK MANAGEMENT - Loans individ
RISK MANAGEMENT - Loans individually evaluated for impairment (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,317,353 | 1,693,275 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Without recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 239,937 | 138,324 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,077,416 | 1,554,951 |
Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,315,383 | 1,692,996 |
Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Without recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 239,937 | 138,324 |
Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,075,446 | 1,554,672 |
Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 279 | |
Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 279 | |
Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,970 | |
Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets, loans, collateral guarantees | 1,970 | |
Gross carrying amount [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 7,336,775 | 7,604,642 |
Gross carrying amount [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Without recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 240,358 | 143,728 |
Gross carrying amount [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 7,096,417 | 7,460,914 |
Gross carrying amount [member] | Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 7,321,116 | 7,587,745 |
Gross carrying amount [member] | Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Without recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 240,358 | 143,728 |
Gross carrying amount [member] | Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 7,080,758 | 7,444,017 |
Gross carrying amount [member] | Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 3,144 | 5,913 |
Gross carrying amount [member] | Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 3,144 | 5,913 |
Gross carrying amount [member] | Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 12,515 | 10,983 |
Gross carrying amount [member] | Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 12,515 | 10,983 |
Gross carrying amount [member] | Repos, interbank loans portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 1 | |
Gross carrying amount [member] | Repos, interbank loans portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | 1 | |
Accumulated impairment [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (10,521,501) | (9,694,456) |
Accumulated impairment [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (7,081,394) | (6,417,117) |
Accumulated impairment [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (3,209,266) | (3,340,570) |
Accumulated impairment [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (3,209,266) | (3,340,570) |
Accumulated impairment [member] | Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (3,196,800) | (3,332,063) |
Accumulated impairment [member] | Commercial lending portfolio [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (3,196,800) | (3,332,063) |
Accumulated impairment [member] | Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (1,959) | (2,337) |
Accumulated impairment [member] | Loans to consumers [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (1,959) | (2,337) |
Accumulated impairment [member] | Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | (10,507) | (6,170) |
Accumulated impairment [member] | Mortgage [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | With recognized provision | Expected credit losses individually assessed [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Financial assets | $ (10,507) | $ (6,170) |
RISK MANAGEMENT - Loss allowanc
RISK MANAGEMENT - Loss allowance roll forward (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | $ (274,682,875) | ||
Ending balance | (280,746,878) | $ (274,682,875) | |
Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 9,694,456 | ||
Ending balance | 10,521,501 | 9,694,456 | |
Loan commitments and financial guarantee contracts [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 64,910 | 62,041 | $ 67,393 |
Net remeasurement of loss allowance | (14,682) | (10,901) | (30,303) |
New financial assets originated or purchased / Provision charged to profit or loss | 20,360 | 18,989 | 21,006 |
FX and other movements | (320) | 203 | (263) |
Discontinued operations | (241) | 3,840 | |
Reclassification BAC | 368 | ||
Loss of control in subsidiary | (5,181) | ||
Ending balance | 70,268 | 64,910 | 62,041 |
Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 185,301 | 165,159 | 139,155 |
Net remeasurement of loss allowance | 51,513 | 57,873 | 46,758 |
FX and other movements | (5,523) | 3,165 | 1,532 |
Write-offs | (45,009) | (40,896) | (22,286) |
Ending balance | 186,282 | 185,301 | 165,159 |
Other accounts receivable, simplified approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 197,115 | ||
Ending balance | 199,382 | 197,115 | |
Investment securities at fair value [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (23,939,915) | ||
Ending balance | (24,446,014) | (23,939,915) | |
Financial assets at amortised cost, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (235,373,468) | ||
Ending balance | (236,970,165) | (235,373,468) | |
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 9,616,860 | ||
Ending balance | 10,438,261 | 9,616,860 | |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (179,115,847) | ||
Ending balance | (176,168,055) | (179,115,847) | |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 9,197,514 | 11,275,612 | 10,905,171 |
Net remeasurement of loss allowance | 4,427,828 | 2,914,860 | 2,647,266 |
New financial assets originated or purchased / Provision charged to profit or loss | 1,811,243 | 1,813,566 | 1,711,715 |
Financial assets that have been derecognized/paid | (1,513,661) | (1,627,591) | (1,187,221) |
Sales of portfolio | (361,380) | ||
Unwind of discount | 724,748 | 550,963 | 440,452 |
FX and other movements | (74,078) | 58,228 | 29,152 |
Discontinued operations | 264,457 | 1,299,102 | |
Reclassification BAC | (1,023,954) | ||
Loss of control in subsidiary | (2,840,666) | ||
Write-offs | (4,176,499) | (3,211,915) | (3,546,071) |
Ending balance | 10,035,715 | 9,197,514 | 11,275,612 |
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (105,248,652) | ||
Ending balance | (102,145,802) | (105,248,652) | |
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 5,494,190 | ||
Ending balance | 5,294,622 | 5,494,190 | |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (99,282,353) | ||
Ending balance | (101,753,217) | (99,282,353) | |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 5,492,746 | 5,854,745 | 5,280,406 |
Net remeasurement of loss allowance | 430,804 | 812,957 | 1,051,898 |
New financial assets originated or purchased / Provision charged to profit or loss | 536,713 | 847,463 | 821,919 |
Financial assets that have been derecognized/paid | (764,456) | (1,037,637) | (649,277) |
Sales of portfolio | (194,305) | ||
Unwind of discount | 517,529 | 405,104 | 291,393 |
FX and other movements | (56,438) | 42,314 | 14,846 |
Discontinued operations | 12,985 | 243,642 | |
Reclassification BAC | (114,667) | ||
Loss of control in subsidiary | (699,022) | ||
Write-offs | (667,993) | (746,163) | (1,085,415) |
Ending balance | 5,294,600 | 5,492,746 | 5,854,745 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (5,966,299) | ||
Ending balance | (392,585) | (5,966,299) | |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,444 | 2,386 | 851 |
Net remeasurement of loss allowance | (120) | 3 | (2,142) |
New financial assets originated or purchased / Provision charged to profit or loss | 1,787 | 17,244 | 5,670 |
Financial assets that have been derecognized/paid | (3,089) | (18,189) | (1,993) |
Ending balance | 22 | 1,444 | 2,386 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (56,107,532) | ||
Ending balance | (55,692,165) | (56,107,532) | |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 3,311,912 | 4,581,004 | 4,938,971 |
Net remeasurement of loss allowance | 3,940,100 | 2,108,727 | 1,470,872 |
New financial assets originated or purchased / Provision charged to profit or loss | 1,194,022 | 916,213 | 847,198 |
Financial assets that have been derecognized/paid | (708,108) | (526,241) | (489,670) |
Sales of portfolio | (167,075) | ||
Unwind of discount | 183,203 | 119,722 | 121,699 |
FX and other movements | (13,364) | 9,987 | 9,526 |
Discontinued operations | 245,750 | ||
Entity deconsolidation | (919,065) | ||
Reclassification BAC | 985,045 | ||
Loss of control in subsidiary | (1,800,012) | ||
Write-offs | (3,433,244) | (2,343,238) | (2,383,572) |
Ending balance | 4,307,446 | 3,311,912 | 4,581,004 |
Financial assets at amortised cost, category [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (17,530,914) | ||
Ending balance | (18,106,219) | (17,530,914) | |
Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 352,441 | 732,407 | 560,904 |
Net remeasurement of loss allowance | 27,511 | (10,177) | 110,685 |
New financial assets originated or purchased / Provision charged to profit or loss | 73,923 | 26,952 | 26,629 |
Financial assets that have been derecognized/paid | (35,578) | (41,977) | (37,553) |
Unwind of discount | 17,000 | 17,085 | 13,945 |
FX and other movements | (4,276) | 5,927 | 4,780 |
Discontinued operations | 5,722 | 70,415 | |
Reclassification BAC | 9,778 | ||
Loss of control in subsidiary | (341,632) | ||
Write-offs | (51,034) | (41,866) | (27,176) |
Ending balance | 379,987 | 352,441 | 732,407 |
Financial assets at amortised cost, category [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (228,749) | ||
Ending balance | (223,869) | (228,749) | |
Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 38,971 | 105,070 | 124,039 |
Net remeasurement of loss allowance | 29,533 | 3,350 | 15,953 |
New financial assets originated or purchased / Provision charged to profit or loss | 4,798 | 5,694 | 10,299 |
Financial assets that have been derecognized/paid | (2,430) | (3,547) | (8,728) |
Unwind of discount | 7,016 | 9,052 | 13,415 |
Write-offs | (24,228) | (80,648) | (49,908) |
Ending balance | 53,660 | 38,971 | 105,070 |
Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 382,416 | ||
Ending balance | 385,664 | 382,416 | |
Financial assets at amortised cost, category [member] | Other accounts receivable, simplified approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 197,115 | ||
Ending balance | 199,382 | 197,115 | |
Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (22,461,805) | ||
Ending balance | (23,326,776) | (22,461,805) | |
Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 36,930 | 10,698 | 7,195 |
Net remeasurement of loss allowance | (15,311) | 20,308 | 1,626 |
New financial assets originated or purchased / Provision charged to profit or loss | 2,669 | 2,198 | 3,622 |
Financial assets that have been derecognized/paid | (1,466) | 2,105 | (1,622) |
FX and other movements | (5,940) | 6,419 | 1,381 |
Discontinued operations | (85) | (1,082) | |
Reclassification BAC | (422) | ||
Loss of control in subsidiary | (503) | ||
Ending balance | 16,882 | 36,930 | 10,698 |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (22,461,805) | ||
Ending balance | (23,326,776) | (22,461,805) | |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 12,686 | 123,978 | 96,486 |
Net remeasurement of loss allowance | (892) | (3,217) | (1,829) |
New financial assets originated or purchased / Provision charged to profit or loss | 6,470 | 4,409 | 7,809 |
Financial assets that have been derecognized/paid | (4,342) | (4,870) | (8,946) |
FX and other movements | (950) | 809 | 1,114 |
Discontinued operations | 2,935 | 16,641 | |
Reclassification BAC | 12,703 | ||
Loss of control in subsidiary | (111,358) | ||
Ending balance | 12,972 | 12,686 | 123,978 |
12-month expected credit losses [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,619,273 | ||
Ending balance | 1,924,795 | 1,619,273 | |
12-month expected credit losses [member] | Loan commitments and financial guarantee contracts [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 58,160 | 45,916 | 57,226 |
Transfer from stage 1 to stage 2 | (1,690) | (558) | (1,260) |
Transfer from stage 1 to stage 3 | (218) | (57) | (132) |
Transfer from stage 2 to stage 1 | 1,105 | 3,379 | 4,585 |
Transfer from stage 3 to stage 1 | 29 | 289 | 84 |
Net remeasurement of loss allowance | (14,124) | (7,419) | (26,378) |
New financial assets originated or purchased / Provision charged to profit or loss | 18,693 | 17,204 | 12,057 |
FX and other movements | (318) | 202 | (264) |
Discontinued operations | (45) | (290) | |
Reclassification BAC | 288 | ||
Loss of control in subsidiary | (751) | ||
Ending balance | 61,637 | 58,160 | 45,916 |
12-month expected credit losses [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 24,977 | 18,939 | 18,136 |
Net remeasurement of loss allowance | 4,389 | 7,680 | 2,378 |
FX and other movements | (1,789) | 1,748 | (49) |
Write-offs | (1,612) | (3,390) | (1,526) |
Ending balance | 25,965 | 24,977 | 18,939 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,548,427 | ||
Ending balance | 1,850,186 | 1,548,427 | |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,494,887 | 1,824,446 | 1,760,076 |
Transfer from stage 1 to stage 2 | (332,307) | (183,333) | (202,725) |
Transfer from stage 1 to stage 3 | (450,063) | (105,447) | (61,953) |
Transfer from stage 2 to stage 1 | 479,360 | 377,758 | 207,626 |
Transfer from stage 3 to stage 1 | 113,974 | 98,057 | 45,635 |
Net remeasurement of loss allowance | 327,913 | (184,532) | (529,125) |
New financial assets originated or purchased / Provision charged to profit or loss | 809,886 | 902,226 | 926,752 |
Financial assets that have been derecognized/paid | (501,840) | (462,600) | (441,892) |
Sales of portfolio | (2,369) | ||
Unwind of discount | 12 | ||
FX and other movements | (13,826) | 3,449 | 5,140 |
Discontinued operations | (3,843) | (274,758) | |
Reclassification BAC | 461,534 | ||
Loss of control in subsidiary | (640,049) | ||
Write-offs | (114,019) | (131,245) | (71,864) |
Ending balance | 1,811,608 | 1,494,887 | 1,824,446 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 598,538 | 655,655 | 656,830 |
Transfer from stage 1 to stage 2 | (44,743) | (33,511) | (46,649) |
Transfer from stage 1 to stage 3 | (18,381) | (33,401) | (8,714) |
Transfer from stage 2 to stage 1 | 150,216 | 93,285 | 64,201 |
Transfer from stage 3 to stage 1 | 31,836 | 26,793 | 20,081 |
Net remeasurement of loss allowance | (148,865) | (124,267) | (274,271) |
New financial assets originated or purchased / Provision charged to profit or loss | 320,101 | 392,719 | 403,839 |
Financial assets that have been derecognized/paid | (262,000) | (213,019) | (196,873) |
FX and other movements | (10,958) | 10,954 | 5,283 |
Discontinued operations | 12,101 | (22,433) | |
Reclassification BAC | 58,788 | ||
Loss of control in subsidiary | (185,786) | ||
Write-offs | (3,303) | (2,985) | (4,427) |
Ending balance | 612,441 | 598,538 | 655,655 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,444 | 2,386 | 792 |
Transfer from stage 2 to stage 1 | 2 | ||
Net remeasurement of loss allowance | (122) | 3 | (2,142) |
New financial assets originated or purchased / Provision charged to profit or loss | 1,787 | 17,244 | 5,670 |
Financial assets that have been derecognized/paid | (3,089) | (18,189) | (1,934) |
Ending balance | 22 | 1,444 | 2,386 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 839,904 | 1,066,543 | 1,013,071 |
Transfer from stage 1 to stage 2 | (276,858) | (142,762) | (144,734) |
Transfer from stage 1 to stage 3 | (429,739) | (70,964) | (51,891) |
Transfer from stage 2 to stage 1 | 300,775 | 211,028 | 126,680 |
Transfer from stage 3 to stage 1 | 71,599 | 55,658 | 18,283 |
Net remeasurement of loss allowance | 484,735 | (1,000) | (233,642) |
New financial assets originated or purchased / Provision charged to profit or loss | 473,697 | 473,946 | 493,695 |
Financial assets that have been derecognized/paid | (214,602) | (201,480) | (223,040) |
Sales of portfolio | (2,369) | ||
FX and other movements | (3,200) | (2,575) | (27) |
Discontinued operations | (9,751) | ||
Entity deconsolidation | 345,830 | ||
Reclassification BAC | (212,651) | ||
Loss of control in subsidiary | (412,745) | ||
Write-offs | (101,945) | (125,994) | (65,031) |
Ending balance | 1,141,997 | 839,904 | 1,066,543 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 48,763 | 93,122 | 72,294 |
Transfer from stage 1 to stage 2 | (7,295) | (4,775) | (5,944) |
Transfer from stage 1 to stage 3 | (635) | (266) | (322) |
Transfer from stage 2 to stage 1 | 26,638 | 70,544 | 14,441 |
Transfer from stage 3 to stage 1 | 10,329 | 15,267 | 6,819 |
Net remeasurement of loss allowance | (14,157) | (55,643) | (7,201) |
New financial assets originated or purchased / Provision charged to profit or loss | 9,654 | 12,837 | 13,900 |
Financial assets that have been derecognized/paid | (20,196) | (27,664) | (15,995) |
Unwind of discount | 12 | ||
FX and other movements | 332 | (4,930) | (116) |
Discontinued operations | (6,193) | (39,674) | |
Reclassification BAC | 56,916 | ||
Loss of control in subsidiary | (41,518) | ||
Write-offs | (8,365) | (2,018) | (1,996) |
Ending balance | 45,080 | 48,763 | 93,122 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 6,238 | 6,740 | 17,089 |
Transfer from stage 1 to stage 2 | (3,411) | (2,285) | (5,398) |
Transfer from stage 1 to stage 3 | (1,308) | (816) | (1,026) |
Transfer from stage 2 to stage 1 | 1,729 | 2,901 | 2,304 |
Transfer from stage 3 to stage 1 | 210 | 339 | 452 |
Net remeasurement of loss allowance | 6,322 | (3,625) | (11,869) |
New financial assets originated or purchased / Provision charged to profit or loss | 4,647 | 5,480 | 9,648 |
Financial assets that have been derecognized/paid | (1,953) | (2,248) | (4,050) |
Write-offs | (406) | (248) | (410) |
Ending balance | 12,068 | 6,238 | 6,740 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 24,977 | ||
Ending balance | 25,965 | 24,977 | |
12-month expected credit losses [member] | Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 28,563 | 3,297 | 7,188 |
Transfer from stage 1 to stage 2 | (1,796) | ||
Transfer from stage 2 to stage 1 | 1,485 | ||
Net remeasurement of loss allowance | (14,315) | 19,761 | (2,443) |
New financial assets originated or purchased / Provision charged to profit or loss | 2,669 | 2,198 | 2,179 |
Financial assets that have been derecognized/paid | (1,466) | 1,015 | (1,622) |
FX and other movements | (4,323) | 4,910 | 1,295 |
Discontinued operations | (85) | (1,087) | |
Reclassification BAC | (417) | ||
Loss of control in subsidiary | (503) | ||
Ending balance | 12,613 | 28,563 | 3,297 |
12-month expected credit losses [member] | Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (22,461,805) | ||
Ending balance | (23,326,776) | (22,461,805) | |
12-month expected credit losses [member] | Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 12,686 | 123,978 | 96,307 |
Net remeasurement of loss allowance | (892) | (3,217) | (1,829) |
New financial assets originated or purchased / Provision charged to profit or loss | 6,470 | 4,409 | 7,809 |
Financial assets that have been derecognized/paid | (4,342) | (4,870) | (8,948) |
FX and other movements | (950) | 809 | 1,116 |
Discontinued operations | 2,935 | 16,821 | |
Reclassification BAC | 12,702 | ||
Loss of control in subsidiary | (111,358) | ||
Ending balance | 12,972 | 12,686 | 123,978 |
Lifetime expected credit losses [member] | Other accounts receivable, simplified approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 197,115 | 217,643 | 203,902 |
Discontinued operations | 469 | 8,659 | |
Entity deconsolidation | (3,245) | ||
Provision charged to profit or loss | 39,750 | 27,519 | 30,039 |
Reclassification BAC | (1,157) | ||
Loss of control in subsidiary | (33,024) | ||
Entity liquidation | (1,592) | ||
Recovery for partial payments from the clients | (14,599) | (6,751) | (5,157) |
Write-offs | (18,516) | (7,948) | (25,951) |
Exchange gains (losses) in foreign currency | (1,123) | 799 | 7,308 |
Ending balance | 199,382 | 197,115 | 217,643 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,460,951 | ||
Ending balance | 1,315,930 | 1,460,951 | |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Loan commitments and financial guarantee contracts [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 6,461 | 10,097 | 8,679 |
Transfer from stage 1 to stage 2 | 1,690 | 558 | 1,260 |
Transfer from stage 2 to stage 3 | (329) | (211) | (169) |
Transfer from stage 3 to stage 2 | 4 | 34 | 36 |
Transfer from stage 2 to stage 1 | (1,105) | (3,379) | (4,585) |
Net remeasurement of loss allowance | (769) | (2,264) | 830 |
New financial assets originated or purchased / Provision charged to profit or loss | 1,732 | 1,826 | 4,025 |
FX and other movements | (2) | 1 | |
Discontinued operations | (63) | (8) | |
Reclassification BAC | 29 | ||
Loss of control in subsidiary | (138) | ||
Ending balance | 7,682 | 6,461 | 10,097 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 20,201 | 16,771 | 13,548 |
Net remeasurement of loss allowance | 257 | 2,190 | 2,865 |
FX and other movements | (1,270) | 1,240 | 358 |
Ending balance | 19,188 | 20,201 | 16,771 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,454,490 | ||
Ending balance | 1,308,248 | 1,454,490 | |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,425,922 | 2,703,117 | 3,039,056 |
Transfer from stage 1 to stage 2 | 332,307 | 183,333 | 202,725 |
Transfer from stage 2 to stage 3 | (1,180,705) | (625,769) | (811,072) |
Transfer from stage 3 to stage 2 | 309,622 | 165,584 | 151,978 |
Transfer from stage 2 to stage 1 | (479,360) | (377,758) | (207,626) |
Net remeasurement of loss allowance | 1,284,696 | 695,126 | 560,032 |
New financial assets originated or purchased / Provision charged to profit or loss | 307,919 | 316,329 | 274,290 |
Financial assets that have been derecognized/paid | (157,015) | (269,020) | (335,489) |
Sales of portfolio | (1,809) | ||
Unwind of discount | 62 | 28 | 1 |
FX and other movements | (16,568) | 28,302 | 14,524 |
Discontinued operations | 14,798 | 583,619 | |
Reclassification BAC | (570,239) | ||
Loss of control in subsidiary | (1,003,291) | ||
Write-offs | (540,280) | (404,857) | (198,682) |
Ending balance | 1,284,791 | 1,425,922 | 2,703,117 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 515,202 | 1,006,822 | 805,097 |
Transfer from stage 1 to stage 2 | 44,743 | 33,511 | 46,649 |
Transfer from stage 2 to stage 3 | (130,514) | (88,123) | (210,321) |
Transfer from stage 3 to stage 2 | 40,868 | 61,402 | 48,748 |
Transfer from stage 2 to stage 1 | (150,216) | (93,285) | (64,201) |
Net remeasurement of loss allowance | (99,159) | (192,441) | 275,616 |
New financial assets originated or purchased / Provision charged to profit or loss | 61,148 | 137,383 | 137,181 |
Financial assets that have been derecognized/paid | (51,476) | (109,718) | (105,018) |
Unwind of discount | 16 | 14 | |
FX and other movements | (9,657) | 9,586 | 3,020 |
Discontinued operations | (2,612) | 99,910 | |
Reclassification BAC | (24,946) | ||
Loss of control in subsidiary | (244,715) | ||
Write-offs | (2,131) | (2,622) | (4,913) |
Ending balance | 218,824 | 515,202 | 1,006,822 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from stage 2 to stage 1 | (2) | ||
Net remeasurement of loss allowance | 2 | ||
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 853,159 | 1,396,101 | 1,948,030 |
Transfer from stage 1 to stage 2 | 276,858 | 142,762 | 144,734 |
Transfer from stage 2 to stage 3 | (1,004,192) | (498,736) | (545,940) |
Transfer from stage 3 to stage 2 | 257,854 | 92,189 | 89,458 |
Transfer from stage 2 to stage 1 | (300,775) | (211,028) | (126,680) |
Net remeasurement of loss allowance | 1,310,059 | 863,809 | 222,504 |
New financial assets originated or purchased / Provision charged to profit or loss | 238,963 | 174,616 | 131,386 |
Financial assets that have been derecognized/paid | (98,788) | (149,438) | (211,872) |
Sales of portfolio | (1,809) | ||
Unwind of discount | 46 | 13 | |
FX and other movements | (4,786) | 9,007 | 6,989 |
Discontinued operations | 15,493 | ||
Entity deconsolidation | (528,905) | ||
Reclassification BAC | 450,272 | ||
Loss of control in subsidiary | (585,225) | ||
Write-offs | (533,321) | (396,404) | (183,875) |
Ending balance | 993,268 | 853,159 | 1,396,101 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 52,639 | 286,903 | 225,889 |
Transfer from stage 1 to stage 2 | 7,295 | 4,775 | 5,944 |
Transfer from stage 2 to stage 3 | (35,387) | (28,228) | (26,501) |
Transfer from stage 3 to stage 2 | 9,526 | 10,553 | 10,387 |
Transfer from stage 2 to stage 1 | (26,638) | (70,544) | (14,441) |
Net remeasurement of loss allowance | 63,399 | 19,536 | 80,638 |
New financial assets originated or purchased / Provision charged to profit or loss | 7,711 | 4,133 | 5,093 |
Financial assets that have been derecognized/paid | (6,486) | (8,938) | (14,577) |
Unwind of discount | 1 | 1 | |
FX and other movements | (2,125) | 9,709 | 4,515 |
Discontinued operations | 1,917 | 33,437 | |
Reclassification BAC | (16,388) | ||
Loss of control in subsidiary | (173,351) | ||
Write-offs | (3,601) | (3,827) | (7,094) |
Ending balance | 66,333 | 52,639 | 286,903 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 4,922 | 13,291 | 60,040 |
Transfer from stage 1 to stage 2 | 3,411 | 2,285 | 5,398 |
Transfer from stage 2 to stage 3 | (10,612) | (10,682) | (28,310) |
Transfer from stage 3 to stage 2 | 1,374 | 1,440 | 3,385 |
Transfer from stage 2 to stage 1 | (1,729) | (2,901) | (2,304) |
Net remeasurement of loss allowance | 10,395 | 4,222 | (18,726) |
New financial assets originated or purchased / Provision charged to profit or loss | 97 | 197 | 630 |
Financial assets that have been derecognized/paid | (265) | (926) | (4,022) |
Write-offs | (1,227) | (2,004) | (2,800) |
Ending balance | 6,366 | 4,922 | 13,291 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 20,201 | ||
Ending balance | 19,188 | 20,201 | |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 8,367 | 7,401 | 7 |
Transfer from stage 1 to stage 2 | 1,796 | ||
Transfer from stage 2 to stage 1 | (1,485) | ||
Net remeasurement of loss allowance | (996) | 547 | 4,069 |
New financial assets originated or purchased / Provision charged to profit or loss | 1,443 | ||
Financial assets that have been derecognized/paid | 1,090 | ||
FX and other movements | (1,617) | 1,509 | 86 |
Discontinued operations | 5 | ||
Reclassification BAC | (5) | ||
Ending balance | 4,269 | 8,367 | 7,401 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Investment securities at fair value [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 179 | ||
Financial assets that have been derecognized/paid | 2 | ||
FX and other movements | (2) | ||
Discontinued operations | (180) | ||
Reclassification BAC | 1 | ||
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 6,417,117 | ||
Ending balance | 7,081,394 | 6,417,117 | |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Loan commitments and financial guarantee contracts [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 289 | 6,028 | 1,488 |
Transfer from stage 1 to stage 3 | 218 | 57 | 132 |
Transfer from stage 2 to stage 3 | 329 | 211 | 169 |
Transfer from stage 3 to stage 2 | (4) | (34) | (36) |
Transfer from stage 3 to stage 1 | (29) | (289) | (84) |
Net remeasurement of loss allowance | 211 | (1,218) | (4,755) |
New financial assets originated or purchased / Provision charged to profit or loss | (65) | (41) | 4,924 |
FX and other movements | 1 | ||
Discontinued operations | (133) | 4,138 | |
Reclassification BAC | 51 | ||
Loss of control in subsidiary | (4,292) | ||
Ending balance | 949 | 289 | 6,028 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 140,123 | 129,449 | 107,471 |
Net remeasurement of loss allowance | 46,867 | 48,003 | 41,515 |
FX and other movements | (2,464) | 177 | 1,223 |
Write-offs | (43,397) | (37,506) | (20,760) |
Ending balance | 141,129 | 140,123 | 129,449 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 6,416,828 | ||
Ending balance | 7,080,445 | 6,416,828 | |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 6,276,705 | 6,748,049 | 6,106,039 |
Transfer from stage 1 to stage 3 | 450,063 | 105,447 | 61,953 |
Transfer from stage 2 to stage 3 | 1,180,705 | 625,769 | 811,072 |
Transfer from stage 3 to stage 2 | (309,622) | (165,584) | (151,978) |
Transfer from stage 3 to stage 1 | (113,974) | (98,057) | (45,635) |
Net remeasurement of loss allowance | 2,815,219 | 2,404,266 | 2,616,359 |
New financial assets originated or purchased / Provision charged to profit or loss | 693,438 | 595,011 | 510,673 |
Financial assets that have been derecognized/paid | (854,806) | (895,971) | (409,840) |
Sales of portfolio | (357,202) | ||
Unwind of discount | 724,674 | 550,935 | 440,451 |
FX and other movements | (43,684) | 26,477 | 9,488 |
Discontinued operations | 253,502 | 990,241 | |
Reclassification BAC | (915,249) | ||
Loss of control in subsidiary | (1,197,326) | ||
Write-offs | (3,522,200) | (2,675,813) | (3,275,525) |
Ending balance | 6,939,316 | 6,276,705 | 6,748,049 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 4,379,006 | 4,192,268 | 3,818,479 |
Transfer from stage 1 to stage 3 | 18,381 | 33,401 | 8,714 |
Transfer from stage 2 to stage 3 | 130,514 | 88,123 | 210,321 |
Transfer from stage 3 to stage 2 | (40,868) | (61,402) | (48,748) |
Transfer from stage 3 to stage 1 | (31,836) | (26,793) | (20,081) |
Net remeasurement of loss allowance | 678,828 | 1,129,665 | 1,050,553 |
New financial assets originated or purchased / Provision charged to profit or loss | 155,464 | 317,361 | 280,899 |
Financial assets that have been derecognized/paid | (450,980) | (714,900) | (347,386) |
Sales of portfolio | (194,305) | ||
Unwind of discount | 517,513 | 405,090 | 291,393 |
FX and other movements | (35,823) | 21,774 | 6,543 |
Discontinued operations | 3,496 | 166,165 | |
Reclassification BAC | (148,509) | ||
Loss of control in subsidiary | (268,521) | ||
Write-offs | (662,559) | (740,556) | (1,076,075) |
Ending balance | 4,463,335 | 4,379,006 | 4,192,268 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 59 | ||
Financial assets that have been derecognized/paid | (59) | ||
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,618,849 | 2,118,360 | 1,977,870 |
Transfer from stage 1 to stage 3 | 429,739 | 70,964 | 51,891 |
Transfer from stage 2 to stage 3 | 1,004,192 | 498,736 | 545,940 |
Transfer from stage 3 to stage 2 | (257,854) | (92,189) | (89,458) |
Transfer from stage 3 to stage 1 | (71,599) | (55,658) | (18,283) |
Net remeasurement of loss allowance | 2,145,306 | 1,245,918 | 1,482,010 |
New financial assets originated or purchased / Provision charged to profit or loss | 481,362 | 267,651 | 222,117 |
Financial assets that have been derecognized/paid | (394,718) | (175,323) | (54,758) |
Sales of portfolio | (162,897) | ||
Unwind of discount | 183,157 | 119,709 | 121,699 |
FX and other movements | (5,378) | 3,555 | 2,564 |
Discontinued operations | 240,008 | ||
Entity deconsolidation | (735,990) | ||
Reclassification BAC | 747,424 | ||
Loss of control in subsidiary | (802,042) | ||
Write-offs | (2,797,978) | (1,820,840) | (2,134,666) |
Ending balance | 2,172,181 | 1,618,849 | 2,118,360 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 251,039 | 352,382 | 262,721 |
Transfer from stage 1 to stage 3 | 635 | 266 | 322 |
Transfer from stage 2 to stage 3 | 35,387 | 28,228 | 26,501 |
Transfer from stage 3 to stage 2 | (9,526) | (10,553) | (10,387) |
Transfer from stage 3 to stage 1 | (10,329) | (15,267) | (6,819) |
Net remeasurement of loss allowance | (21,731) | 25,930 | 37,248 |
New financial assets originated or purchased / Provision charged to profit or loss | 56,558 | 9,982 | 7,636 |
Financial assets that have been derecognized/paid | (8,896) | (5,375) | (6,981) |
Unwind of discount | 16,988 | 17,084 | 13,944 |
FX and other movements | (2,483) | 1,148 | 381 |
Discontinued operations | 9,998 | 76,652 | |
Reclassification BAC | (30,750) | ||
Loss of control in subsidiary | (126,763) | ||
Write-offs | (39,068) | (36,021) | (18,086) |
Ending balance | 268,574 | 251,039 | 352,382 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 27,811 | 85,039 | 46,910 |
Transfer from stage 1 to stage 3 | 1,308 | 816 | 1,026 |
Transfer from stage 2 to stage 3 | 10,612 | 10,682 | 28,310 |
Transfer from stage 3 to stage 2 | (1,374) | (1,440) | (3,385) |
Transfer from stage 3 to stage 1 | (210) | (339) | (452) |
Net remeasurement of loss allowance | 12,816 | 2,753 | 46,548 |
New financial assets originated or purchased / Provision charged to profit or loss | 54 | 17 | 21 |
Financial assets that have been derecognized/paid | (212) | (373) | (656) |
Unwind of discount | 7,016 | 9,052 | 13,415 |
Write-offs | (22,595) | (78,396) | (46,698) |
Ending balance | 35,226 | 27,811 | $ 85,039 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Other accounts receivable, general approach | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 140,123 | ||
Ending balance | $ 141,129 | $ 140,123 |
RISK MANAGEMENT - Impact of the
RISK MANAGEMENT - Impact of the measurement of ECL (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | $ 94,543 | $ (97,739) | $ 654,734 |
Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (13,761) | 86,003 | 651,534 |
Interbank and overnight funds [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (4) | (611) | 77 |
Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 94,656 | (92,385) | (24,985) |
Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 13,725 | (90,615) | 45,447 |
Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (73) | (131) | (17,339) |
12-month expected credit losses [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 66,298 | (171,007) | (73,359) |
12-month expected credit losses [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 3,952 | (51,598) | 26,567 |
12-month expected credit losses [member] | Interbank and overnight funds [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (4) | (611) | 77 |
12-month expected credit losses [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 57,239 | (54,668) | (97,455) |
12-month expected credit losses [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 5,207 | (63,752) | 7,918 |
12-month expected credit losses [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (96) | (378) | (10,466) |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 35,139 | 42 | 588,507 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (20,629) | 54,452 | 539,703 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 51,135 | (37,148) | 56,801 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 4,604 | (17,595) | (1,149) |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 29 | 333 | (6,848) |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (6,894) | 73,226 | 139,586 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 2,916 | 83,149 | 85,264 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (13,718) | (569) | 15,669 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 3,914 | (9,268) | 38,678 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (6) | (86) | (25) |
Debt securities [member] | Financial assets at amortised cost, class [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 9,632 | (22) | (225) |
Debt securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | (359) | (1,056) | (12,852) |
Debt securities [member] | 12-month expected credit losses [member] | Financial assets at amortised cost, class [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | 9,632 | (70) | (225) |
Debt securities [member] | 12-month expected credit losses [member] | Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | $ (359) | (1,056) | $ (12,852) |
Debt securities [member] | Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, class [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Impact of the measurement of ECL | $ 48 |
RISK MANAGEMENT - Changes in gr
RISK MANAGEMENT - Changes in gross carrying amount (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | $ 274,682,875 | ||
Financial assets at end of period | 280,746,878 | $ 274,682,875 | |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 20,255,758 | ||
Financial assets at end of period | 22,171,973 | 20,255,758 | |
Financial assets at amortised cost, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 235,373,468 | ||
Financial assets at end of period | 236,970,165 | 235,373,468 | |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 179,115,847 | ||
Financial assets at end of period | 176,168,055 | 179,115,847 | |
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 188,313,361 | 231,573,437 | $ 206,447,165 |
New financial assets originated or purchased | 122,753,246 | 142,677,855 | 117,046,001 |
Financial assets that have been derecognized/paid | (114,598,525) | (114,550,381) | (107,353,830) |
Net remeasurement of amortized cost and other receivables | 1,790,448 | 1,547,562 | 134,578 |
Write-offs | (4,176,499) | (3,211,915) | (3,546,071) |
Sale of loan portfolio - loss allowance | (361,380) | ||
Sale of loan portfolio - cash | (113,460) | ||
Gain or loss on sale portfolio | 3,331 | ||
Discontinued operations | 1,675,137 | 6,209,789 | |
Reclassification BAC | 8,558,624 | ||
Loss of control in subsidiary | (77,434,601) | ||
FX and other movements | (7,406,752) | 6,036,267 | 4,077,181 |
Financial assets at end of period | 186,203,770 | 188,313,361 | 231,573,437 |
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 105,248,652 | ||
Financial assets at end of period | 102,145,802 | 105,248,652 | |
Financial assets at amortised cost, category [member] | Loans to corporate entities [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 110,742,842 | ||
Financial assets at end of period | 107,440,424 | 110,742,842 | |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 99,282,353 | ||
Financial assets at end of period | 101,753,217 | 99,282,353 | |
Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 104,775,099 | 122,027,804 | 110,986,938 |
New financial assets originated or purchased | 77,509,567 | 78,320,455 | 67,013,320 |
Financial assets that have been derecognized/paid | (71,469,411) | (67,255,879) | (66,033,305) |
Net remeasurement of amortized cost and other receivables | 3,086,433 | 1,488,843 | 326,239 |
Write-offs | (667,993) | (746,163) | (1,085,415) |
Sale of loan portfolio - loss allowance | (194,305) | ||
Sale of loan portfolio - cash | (78,613) | ||
Gain or loss on sale portfolio | (7,415) | ||
Discontinued operations | 2,678,679 | 1,890,724 | |
Reclassification BAC | 5,560,875 | ||
Loss of control in subsidiary | (36,433,272) | ||
FX and other movements | (5,905,545) | 4,694,632 | 3,368,428 |
Financial assets at end of period | 107,047,817 | 104,775,099 | 122,027,804 |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 5,966,299 | ||
Financial assets at end of period | 392,585 | 5,966,299 | |
Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 5,967,743 | 3,218,433 | 4,693,678 |
New financial assets originated or purchased | 206,661 | 23,119,917 | 1,531,771 |
Financial assets that have been derecognized/paid | (6,003,176) | (18,982,865) | (2,671,104) |
Net remeasurement of amortized cost and other receivables | (1,391) | 84,916 | 16,537 |
Discontinued operations | 249 | 1,529 | |
Reclassification BAC | (607,582) | ||
Loss of control in subsidiary | (1,442,427) | ||
FX and other movements | 222,770 | (30,480) | 253,604 |
Financial assets at end of period | 392,607 | 5,967,743 | 3,218,433 |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 56,107,532 | ||
Financial assets at end of period | 55,692,165 | 56,107,532 | |
Financial assets at amortised cost, category [member] | Loans to consumers [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 59,419,444 | 76,889,145 | 65,835,457 |
New financial assets originated or purchased | 39,018,954 | 36,243,274 | 43,803,992 |
Financial assets that have been derecognized/paid | (32,518,213) | (25,911,661) | (35,802,200) |
Net remeasurement of amortized cost and other receivables | (1,380,933) | (37,897) | (234,357) |
Write-offs | (3,433,244) | (2,343,238) | (2,383,572) |
Sale of loan portfolio - loss allowance | (167,075) | ||
Sale of loan portfolio - cash | (34,847) | ||
Gain or loss on sale portfolio | 10,746 | ||
Discontinued operations | 597,849 | 3,372,792 | |
Reclassification BAC | 2,097,155 | ||
Loss of control in subsidiary | (26,721,679) | ||
FX and other movements | (915,221) | 703,651 | 199,878 |
Financial assets at end of period | 59,999,611 | 59,419,444 | 76,889,145 |
Financial assets at amortised cost, category [member] | Mortgage [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 17,530,914 | ||
Financial assets at end of period | 18,106,219 | 17,530,914 | |
Financial assets at amortised cost, category [member] | Mortgage [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 17,883,355 | 29,120,316 | 24,558,771 |
New financial assets originated or purchased | 5,760,723 | 4,774,892 | 4,509,177 |
Financial assets that have been derecognized/paid | (4,399,685) | (2,191,978) | (2,628,241) |
Net remeasurement of amortized cost and other receivables | 101,603 | (7,610) | (406) |
Write-offs | (51,034) | (41,866) | (27,176) |
Discontinued operations | (1,601,640) | 944,744 | |
Reclassification BAC | 1,508,176 | ||
Loss of control in subsidiary | (12,837,223) | ||
FX and other movements | (808,756) | 668,464 | 255,271 |
Financial assets at end of period | 18,486,206 | 17,883,355 | 29,120,316 |
Financial assets at amortised cost, category [member] | Microcredit [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 228,749 | ||
Financial assets at end of period | 223,869 | 228,749 | |
Financial assets at amortised cost, category [member] | Microcredit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 267,720 | 317,739 | 372,321 |
New financial assets originated or purchased | 257,341 | 219,317 | 187,741 |
Financial assets that have been derecognized/paid | (208,040) | (207,998) | (218,980) |
Net remeasurement of amortized cost and other receivables | (15,264) | 19,310 | 26,565 |
Write-offs | (24,228) | (80,648) | (49,908) |
Financial assets at end of period | 277,529 | 267,720 | 317,739 |
Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 20,255,758 | ||
Financial assets at end of period | 22,171,973 | 20,255,758 | |
Financial assets at amortised cost, category [member] | Other accounts receivable, simplified approach | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 5,612,876 | ||
Financial assets at end of period | 6,152,455 | 5,612,876 | |
Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 22,461,805 | ||
Financial assets at end of period | 23,326,776 | 22,461,805 | |
Debt securities [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 35,995,562 | ||
Financial assets at end of period | 40,438,606 | 35,995,562 | |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 164,906,023 | 190,819,121 | 167,489,648 |
Transfer from stage 1 to stage 2 | (10,951,993) | (8,276,152) | (10,995,706) |
Transfer from stage 1 to stage 3 | (2,059,976) | (1,659,371) | (1,463,566) |
Transfer from stage 2 to stage 1 | 9,137,025 | 8,288,205 | 5,474,571 |
Transfer from stage 3 to stage 1 | 509,414 | 367,294 | 333,523 |
New financial assets originated or purchased | 111,919,244 | 138,932,725 | 112,304,857 |
Financial assets that have been derecognized/paid | (103,065,373) | (104,212,015) | (97,996,142) |
Net remeasurement of amortized cost and other receivables | 841,002 | (1,008,007) | (2,094,986) |
Write-offs | (114,019) | (131,245) | (71,864) |
Sale of loan portfolio - loss allowance | (2,369) | ||
Discontinued operations | 4,985,907 | 5,034,757 | |
Reclassification BAC | 9,531,734 | ||
Loss of control in subsidiary | (68,298,203) | ||
FX and other movements | (6,594,417) | 5,097,764 | 3,272,295 |
Financial assets at end of period | 164,524,561 | 164,906,023 | 190,819,121 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 89,958,234 | 100,858,380 | 92,626,136 |
Transfer from stage 1 to stage 2 | (3,831,869) | (3,412,530) | (6,217,821) |
Transfer from stage 1 to stage 3 | (979,725) | (1,183,677) | (1,074,291) |
Transfer from stage 2 to stage 1 | 4,428,540 | 3,502,330 | 2,585,939 |
Transfer from stage 3 to stage 1 | 216,849 | 152,800 | 189,944 |
New financial assets originated or purchased | 75,428,991 | 76,419,265 | 64,413,391 |
Financial assets that have been derecognized/paid | (66,409,339) | (60,407,178) | (60,721,302) |
Net remeasurement of amortized cost and other receivables | 781,835 | (180,790) | (841,693) |
Write-offs | (3,303) | (2,985) | (4,427) |
Discontinued operations | 3,560,936 | 1,592,033 | |
Reclassification BAC | 5,333,890 | ||
Loss of control in subsidiary | (33,537,080) | ||
FX and other movements | (5,261,913) | 4,188,763 | 2,976,581 |
Financial assets at end of period | 94,328,300 | 89,958,234 | 100,858,380 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 5,967,742 | 3,218,433 | 4,693,539 |
New financial assets originated or purchased | 206,661 | 23,119,916 | 1,531,771 |
Financial assets that have been derecognized/paid | (6,003,176) | (18,982,865) | (2,671,104) |
Net remeasurement of amortized cost and other receivables | (1,390) | 84,916 | 16,676 |
Discontinued operations | 249 | 1,529 | |
Reclassification BAC | (607,582) | ||
Loss of control in subsidiary | (1,442,427) | ||
FX and other movements | 222,770 | (30,480) | 253,604 |
Financial assets at end of period | 392,607 | 5,967,742 | 3,218,433 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 52,529,128 | 63,811,740 | 51,453,521 |
Transfer from stage 1 to stage 2 | (5,701,009) | (3,939,985) | (3,955,559) |
Transfer from stage 1 to stage 3 | (1,029,073) | (456,120) | (363,213) |
Transfer from stage 2 to stage 1 | 3,616,500 | 2,810,585 | 2,193,145 |
Transfer from stage 3 to stage 1 | 212,519 | 146,229 | 102,385 |
New financial assets originated or purchased | 32,474,641 | 34,459,205 | 41,759,298 |
Financial assets that have been derecognized/paid | (28,331,264) | (22,753,127) | (32,129,847) |
Net remeasurement of amortized cost and other receivables | 20,995 | (788,200) | (1,170,836) |
Write-offs | (101,945) | (125,994) | (65,031) |
Sale of loan portfolio - loss allowance | (2,369) | ||
Discontinued operations | 1,156,225 | 2,732,637 | |
Reclassification BAC | 3,256,691 | ||
Loss of control in subsidiary | (22,340,862) | ||
FX and other movements | (832,014) | 549,432 | (1,451) |
Financial assets at end of period | 52,856,109 | 52,529,128 | 63,811,740 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 16,226,428 | 22,743,149 | 18,537,882 |
Transfer from stage 1 to stage 2 | (1,382,946) | (896,435) | (773,274) |
Transfer from stage 1 to stage 3 | (40,569) | (13,682) | (18,990) |
Transfer from stage 2 to stage 1 | 1,082,759 | 1,954,180 | 657,398 |
Transfer from stage 3 to stage 1 | 79,530 | 67,285 | 39,085 |
New financial assets originated or purchased | 3,594,678 | 4,715,113 | 4,417,205 |
Financial assets that have been derecognized/paid | (2,142,766) | (1,891,256) | (2,315,419) |
Net remeasurement of amortized cost and other receivables | 35,508 | (130,620) | (99,596) |
Write-offs | (8,365) | (2,018) | (1,996) |
Discontinued operations | 268,497 | 708,558 | |
Reclassification BAC | 1,548,735 | ||
Loss of control in subsidiary | (10,977,834) | ||
FX and other movements | (723,260) | 390,049 | 43,561 |
Financial assets at end of period | 16,720,997 | 16,226,428 | 22,743,149 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 224,491 | 187,419 | 178,570 |
Transfer from stage 1 to stage 2 | (36,169) | (27,202) | (49,052) |
Transfer from stage 1 to stage 3 | (10,609) | (5,892) | (7,072) |
Transfer from stage 2 to stage 1 | 9,226 | 21,110 | 38,089 |
Transfer from stage 3 to stage 1 | 516 | 980 | 2,109 |
New financial assets originated or purchased | 214,273 | 219,226 | 183,192 |
Financial assets that have been derecognized/paid | (178,828) | (177,589) | (158,470) |
Net remeasurement of amortized cost and other receivables | 4,054 | 6,687 | 463 |
Write-offs | (406) | (248) | (410) |
Financial assets at end of period | 226,548 | 224,491 | 187,419 |
12-month expected credit losses [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 14,315,166 | ||
Financial assets at end of period | 15,713,547 | 14,315,166 | |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 11,774,908 | 26,898,573 | 26,588,199 |
Transfer from stage 1 to stage 2 | 10,951,993 | 8,276,152 | 10,995,706 |
Transfer from stage 2 to stage 3 | (3,372,104) | (2,939,477) | (3,879,203) |
Transfer from stage 2 to stage 1 | (9,137,025) | (8,288,205) | (5,474,571) |
Transfer from stage 3 to stage 2 | 865,781 | 646,995 | 809,475 |
Transfer from stage 3 to stage 1 | 11,192 | ||
New financial assets originated or purchased | 2,583,927 | 2,450,770 | 3,354,034 |
Financial assets that have been derecognized/paid | (3,798,676) | (6,284,621) | (5,649,252) |
Net remeasurement of amortized cost and other receivables | 164,973 | 213,598 | 723 |
Write-offs | (540,280) | (404,857) | (198,682) |
Sale of loan portfolio - loss allowance | (1,809) | ||
Sale of loan portfolio - cash | (694) | ||
Gain or loss on sale portfolio | (59) | ||
Discontinued operations | (1,228,725) | 866,278 | |
Reclassification BAC | (1,103,917) | ||
Loss of control in subsidiary | (8,288,834) | ||
FX and other movements | (388,080) | 723,539 | 589,783 |
Financial assets at end of period | 9,114,047 | 11,774,908 | 26,898,573 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 5,672,094 | 11,747,975 | 9,843,700 |
Transfer from stage 1 to stage 2 | 3,831,869 | 3,412,530 | 6,217,821 |
Transfer from stage 2 to stage 3 | (986,422) | (1,259,406) | (1,757,273) |
Transfer from stage 2 to stage 1 | (4,428,540) | (3,502,330) | (2,585,939) |
Transfer from stage 3 to stage 2 | 327,479 | 311,858 | 499,834 |
New financial assets originated or purchased | 924,475 | 1,177,731 | 1,819,955 |
Financial assets that have been derecognized/paid | (1,587,486) | (3,742,642) | (2,836,505) |
Net remeasurement of amortized cost and other receivables | 18,893 | 102,831 | (42,188) |
Write-offs | (2,131) | (2,622) | (4,913) |
Discontinued operations | 71,257 | 161,627 | |
Reclassification BAC | 236,162 | ||
Loss of control in subsidiary | (2,931,541) | ||
FX and other movements | (239,697) | 286,453 | 195,694 |
Financial assets at end of period | 3,530,534 | 5,672,094 | 11,747,975 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 4,928,963 | 9,828,726 | 11,382,726 |
Transfer from stage 1 to stage 2 | 5,701,009 | 3,939,985 | 3,955,559 |
Transfer from stage 2 to stage 3 | (2,089,300) | (1,433,947) | (1,869,405) |
Transfer from stage 2 to stage 1 | (3,616,500) | (2,810,585) | (2,193,145) |
Transfer from stage 3 to stage 2 | 469,333 | 258,837 | 252,599 |
Transfer from stage 3 to stage 1 | 11,192 | ||
New financial assets originated or purchased | 1,586,439 | 1,219,507 | 1,448,809 |
Financial assets that have been derecognized/paid | (2,095,326) | (2,332,167) | (2,570,086) |
Net remeasurement of amortized cost and other receivables | 126,837 | 69,133 | 15,274 |
Write-offs | (533,321) | (396,404) | (183,875) |
Sale of loan portfolio - loss allowance | (1,809) | ||
Sale of loan portfolio - cash | (694) | ||
Gain or loss on sale portfolio | (59) | ||
Discontinued operations | (80,679) | 506,255 | |
Reclassification BAC | (1,111,052) | ||
Loss of control in subsidiary | (3,498,287) | ||
FX and other movements | (77,989) | 164,844 | 195,067 |
Financial assets at end of period | 4,408,775 | 4,928,963 | 9,828,726 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 1,159,795 | 5,278,510 | 5,217,872 |
Transfer from stage 1 to stage 2 | 1,382,946 | 896,435 | 773,274 |
Transfer from stage 2 to stage 3 | (271,352) | (219,362) | (164,767) |
Transfer from stage 2 to stage 1 | (1,082,759) | (1,954,180) | (657,398) |
Transfer from stage 3 to stage 2 | 66,023 | 72,617 | 47,618 |
New financial assets originated or purchased | 71,626 | 53,475 | 85,222 |
Financial assets that have been derecognized/paid | (109,535) | (197,058) | (207,019) |
Net remeasurement of amortized cost and other receivables | 18,036 | 39,252 | 22,411 |
Write-offs | (3,601) | (3,827) | (7,094) |
Discontinued operations | (1,219,303) | 198,396 | |
Reclassification BAC | (229,027) | ||
Loss of control in subsidiary | (1,859,006) | ||
FX and other movements | (70,394) | 272,242 | 199,022 |
Financial assets at end of period | 1,160,785 | 1,159,795 | 5,278,510 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 14,056 | 43,362 | 143,901 |
Transfer from stage 1 to stage 2 | 36,169 | 27,202 | 49,052 |
Transfer from stage 2 to stage 3 | (25,030) | (26,762) | (87,758) |
Transfer from stage 2 to stage 1 | (9,226) | (21,110) | (38,089) |
Transfer from stage 3 to stage 2 | 2,946 | 3,683 | 9,424 |
New financial assets originated or purchased | 1,387 | 57 | 48 |
Financial assets that have been derecognized/paid | (6,329) | (12,754) | (35,642) |
Net remeasurement of amortized cost and other receivables | 1,207 | 2,382 | 5,226 |
Write-offs | (1,227) | (2,004) | (2,800) |
Financial assets at end of period | 13,953 | 14,056 | 43,362 |
Lifetime expected credit losses [member] | Financial instruments not credit-impaired [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 145,724 | ||
Financial assets at end of period | 119,607 | 145,724 | |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Loan portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 11,632,430 | 13,855,743 | 12,369,318 |
Transfer from stage 1 to stage 3 | 2,059,976 | 1,659,371 | 1,463,566 |
Transfer from stage 2 to stage 3 | 3,372,104 | 2,939,477 | 3,879,203 |
Transfer from stage 3 to stage 2 | (865,781) | (646,995) | (809,475) |
Transfer from stage 3 to stage 1 | (520,606) | (367,294) | (333,523) |
New financial assets originated or purchased | 8,250,075 | 1,294,360 | 1,387,110 |
Financial assets that have been derecognized/paid | (7,734,476) | (4,053,745) | (3,708,436) |
Net remeasurement of amortized cost and other receivables | 784,473 | 2,341,971 | 2,228,841 |
Write-offs | (3,522,200) | (2,675,813) | (3,275,525) |
Sale of loan portfolio - loss allowance | (357,202) | ||
Sale of loan portfolio - cash | (112,766) | ||
Gain or loss on sale portfolio | 3,390 | ||
Discontinued operations | (2,082,045) | 308,754 | |
Reclassification BAC | 130,807 | ||
Loss of control in subsidiary | (847,564) | ||
FX and other movements | (424,255) | 214,964 | 215,103 |
Financial assets at end of period | 12,565,162 | 11,632,430 | 13,855,743 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Commercial lending portfolio [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 9,144,771 | 9,421,449 | 8,517,102 |
Transfer from stage 1 to stage 3 | 979,725 | 1,183,677 | 1,074,291 |
Transfer from stage 2 to stage 3 | 986,422 | 1,259,406 | 1,757,273 |
Transfer from stage 3 to stage 2 | (327,479) | (311,858) | (499,834) |
Transfer from stage 3 to stage 1 | (216,849) | (152,800) | (189,944) |
New financial assets originated or purchased | 1,156,101 | 723,459 | 779,974 |
Financial assets that have been derecognized/paid | (3,472,586) | (3,106,059) | (2,475,498) |
Net remeasurement of amortized cost and other receivables | 2,285,705 | 1,566,802 | 1,210,120 |
Write-offs | (662,559) | (740,556) | (1,076,075) |
Sale of loan portfolio - loss allowance | (194,305) | ||
Sale of loan portfolio - cash | (78,613) | ||
Gain or loss on sale portfolio | (7,415) | ||
Discontinued operations | (953,514) | 137,064 | |
Reclassification BAC | (9,177) | ||
Loss of control in subsidiary | 35,349 | ||
FX and other movements | (403,935) | 219,416 | 196,153 |
Financial assets at end of period | 9,188,983 | 9,144,771 | 9,421,449 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Interbank and overnight funds [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 1 | 139 | |
New financial assets originated or purchased | 1 | ||
Net remeasurement of amortized cost and other receivables | (1) | (139) | |
Financial assets at end of period | 1 | ||
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Loans to consumers [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 1,961,353 | 3,248,679 | 2,999,210 |
Transfer from stage 1 to stage 3 | 1,029,073 | 456,120 | 363,213 |
Transfer from stage 2 to stage 3 | 2,089,300 | 1,433,947 | 1,869,405 |
Transfer from stage 3 to stage 2 | (469,333) | (258,837) | (252,599) |
Transfer from stage 3 to stage 1 | (223,711) | (146,229) | (102,385) |
New financial assets originated or purchased | 4,957,874 | 564,562 | 595,885 |
Financial assets that have been derecognized/paid | (2,091,623) | (826,367) | (1,102,267) |
Net remeasurement of amortized cost and other receivables | (1,528,765) | 681,170 | 921,205 |
Write-offs | (2,797,978) | (1,820,840) | (2,134,666) |
Sale of loan portfolio - loss allowance | (162,897) | ||
Sale of loan portfolio - cash | (34,153) | ||
Gain or loss on sale portfolio | 10,805 | ||
Discontinued operations | (477,697) | 133,900 | |
Reclassification BAC | (48,484) | ||
Loss of control in subsidiary | (882,530) | ||
FX and other movements | (5,218) | (10,625) | 6,262 |
Financial assets at end of period | 2,734,727 | 1,961,353 | 3,248,679 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Mortgage [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 497,132 | 1,098,657 | 803,017 |
Transfer from stage 1 to stage 3 | 40,569 | 13,682 | 18,990 |
Transfer from stage 2 to stage 3 | 271,352 | 219,362 | 164,767 |
Transfer from stage 3 to stage 2 | (66,023) | (72,617) | (47,618) |
Transfer from stage 3 to stage 1 | (79,530) | (67,285) | (39,085) |
New financial assets originated or purchased | 2,094,419 | 6,304 | 6,750 |
Financial assets that have been derecognized/paid | (2,147,384) | (103,664) | (105,803) |
Net remeasurement of amortized cost and other receivables | 48,059 | 83,758 | 76,779 |
Write-offs | (39,068) | (36,021) | (18,086) |
Discontinued operations | (650,834) | 37,790 | |
Reclassification BAC | 188,468 | ||
Loss of control in subsidiary | (383) | ||
FX and other movements | (15,102) | 6,173 | 12,688 |
Financial assets at end of period | 604,424 | 497,132 | 1,098,657 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Microcredit [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 29,173 | 86,958 | 49,850 |
Transfer from stage 1 to stage 3 | 10,609 | 5,892 | 7,072 |
Transfer from stage 2 to stage 3 | 25,030 | 26,762 | 87,758 |
Transfer from stage 3 to stage 2 | (2,946) | (3,683) | (9,424) |
Transfer from stage 3 to stage 1 | (516) | (980) | (2,109) |
New financial assets originated or purchased | 41,681 | 34 | 4,501 |
Financial assets that have been derecognized/paid | (22,883) | (17,655) | (24,868) |
Net remeasurement of amortized cost and other receivables | (20,525) | 10,241 | 20,876 |
Write-offs | (22,595) | (78,396) | (46,698) |
Financial assets at end of period | 37,028 | 29,173 | $ 86,958 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 181,992 | ||
Financial assets at end of period | $ 186,364 | $ 181,992 |
RISK MANAGEMENT - Concentration
RISK MANAGEMENT - Concentrations of credit risk - Concentration by sector (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 186,203,770 | $ 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Concentration risk, percentage, financial assets (as a percent) | 100% | 100% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Consumer services | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 84,358,141 | $ 84,466,684 | ||
Concentration risk, percentage, financial assets (as a percent) | 45.30% | 44.80% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Commercial services | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 40,341,863 | $ 42,542,019 | ||
Concentration risk, percentage, financial assets (as a percent) | 21.70% | 22.60% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | IFRS Construction [Member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 14,733,390 | $ 14,438,349 | ||
Concentration risk, percentage, financial assets (as a percent) | 7.90% | 7.70% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Food, beverage and tobacco | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 7,191,477 | $ 7,843,322 | ||
Concentration risk, percentage, financial assets (as a percent) | 3.90% | 4.20% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Other industrial and manufacturing products | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 6,410,022 | $ 7,006,245 | ||
Concentration risk, percentage, financial assets (as a percent) | 3.40% | 3.70% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Transportation and communications | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 6,283,172 | $ 6,567,477 | ||
Concentration risk, percentage, financial assets (as a percent) | 3.40% | 3.50% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Public services | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 7,172,123 | $ 5,672,379 | ||
Concentration risk, percentage, financial assets (as a percent) | 3.90% | 3% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Chemical production | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 5,414,605 | $ 5,422,364 | ||
Concentration risk, percentage, financial assets (as a percent) | 2.90% | 2.90% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Government | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 5,367,471 | $ 5,252,429 | ||
Concentration risk, percentage, financial assets (as a percent) | 2.90% | 2.80% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Agricultural | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 4,192,847 | $ 4,448,738 | ||
Concentration risk, percentage, financial assets (as a percent) | 2.30% | 2.40% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Trade and tourism | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 1,622,212 | $ 1,650,721 | ||
Concentration risk, percentage, financial assets (as a percent) | 0.80% | 0.90% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Mining products and oil | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 1,500,686 | $ 1,226,418 | ||
Concentration risk, percentage, financial assets (as a percent) | 0.80% | 0.60% | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Other [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 1,615,761 | $ 1,776,216 | ||
Concentration risk, percentage, financial assets (as a percent) | 0.80% | 0.90% |
RISK MANAGEMENT - Concentrati_2
RISK MANAGEMENT - Concentrations of credit risk - Concentration by country (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 162,767,987 | 161,501,401 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Panama | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 14,364,809 | 18,462,789 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Costa Rica | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 116,474 | 219,877 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Guatemala | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 218,838 | 225,105 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | United States | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,907,129 | 5,063,374 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Honduras | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 298,941 | 77,035 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | El Salvador | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6,704 | 56,066 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Nicaragua | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 605 | |||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Other countries | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,522,283 | 2,707,714 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 90,146,557 | 86,114,887 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Panama | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 7,881,116 | 10,318,304 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Costa Rica | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 115,868 | 212,701 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Guatemala | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 218,838 | 225,105 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | United States | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,857,040 | 5,063,368 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Honduras | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 298,941 | 77,035 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | El Salvador | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6,704 | 56,066 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Nicaragua | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 605 | |||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Other countries | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,522,148 | 2,707,633 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 320,400 | 5,786,796 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Panama | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 21,512 | 177,090 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Costa Rica | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 606 | 3,857 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | United States | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 50,089 | |||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 56,659,813 | 55,387,762 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Panama | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,339,663 | 4,030,766 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Costa Rica | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 829 | |||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | United States | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6 | |||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Other countries | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 135 | 81 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,363,688 | 13,944,236 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Panama | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,122,518 | 3,936,629 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Costa Rica | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,490 | |||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | $ 317,739 | $ 372,321 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 277,529 | $ 267,720 |
RISK MANAGEMENT - Concentrati_3
RISK MANAGEMENT - Concentrations of credit risk - Concentration by currency - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 155,464,105 | 152,614,031 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 30,739,665 | 35,699,330 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 83,083,022 | 77,500,547 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,964,795 | 27,274,552 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 159,757 | 5,595,142 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 232,850 | 372,601 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 56,580,248 | 55,306,497 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,419,363 | 4,112,947 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,363,549 | 13,944,125 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,122,657 | 3,939,230 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | $ 317,739 | $ 372,321 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 277,529 | $ 267,720 |
RISK MANAGEMENT - Concentrati_4
RISK MANAGEMENT - Concentrations of credit risk - Concentration by currency - Additional information (Details) $ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 COP ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Disclosure of financial assets [line items] | ||||
Percentage of loan portfolio in foreign currency | 16.50% | 19% | ||
Maximum exposure to credit risk | $ 299,358,788 | $ 294,377,172 | ||
Loan portfolio [member] | Foreign currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Maximum exposure to credit risk | $ 8,042 | $ 7,421 |
RISK MANAGEMENT - Investment de
RISK MANAGEMENT - Investment debt securities - Concentration by sector (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Investment securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,442,575 | 33,711,407 |
Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Investment securities at fair value [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Debt securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,438,606 | 35,995,562 |
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,716,453 | 6,848,213 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,280,108 | 2,923,279 |
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,814,588 | 3,580,855 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 298,792 | 180,032 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,949,853 | 14,326,790 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,376,923 | 8,135,015 |
Securities issued or secured by Colombian Government | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,567,463 | 2,299,618 |
Securities issued or secured by Colombian Government | Investment securities [member] | Financial assets at amortised cost, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,567,463 | 2,299,618 |
Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,794,832 | 2,821,401 |
Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,732,620 | 2,743,473 |
Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 62,212 | 77,928 |
Securities issued or secured by Colombian Government | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,491,881 | 13,025,432 |
Securities issued or secured by Colombian Government | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,298,912 | 2,527,440 |
Securities issued or secured by other Colombian Government entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,112,355 | 4,509,839 |
Securities issued or secured by other Colombian Government entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,112,355 | 4,509,839 |
Securities issued or secured by other Colombian Government entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 155,737 | 194,150 |
Securities issued or secured by other Colombian Government entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 155,737 | 194,150 |
Securities issued or secured by other Colombian Government entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 325,588 | 278,335 |
Securities issued or secured by other Colombian Government entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 538,200 | 510,913 |
Securities issued or secured by foreign Governments | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,515 | 33,453 |
Securities issued or secured by foreign Governments | Investment securities [member] | Financial assets at amortised cost, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,515 | 33,453 |
Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,079 | 57,600 |
Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,079 | 57,600 |
Securities issued or secured by foreign Governments | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,507,038 | 3,396,455 |
Securities issued by central banks | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 145,489 | 194,098 |
Securities issued or secured by other financial entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,082,993 | 2,618,656 |
Securities issued or secured by other financial entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,082,993 | 2,618,656 |
Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,084,461 | 651,807 |
Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 902,652 | 607,368 |
Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 181,809 | 44,439 |
Securities issued or secured by other financial entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 918,788 | 707,630 |
Securities issued or secured by other financial entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,223,859 | 915,274 |
Securities issued by entities of the non-financial sector entities | Investment securities [member] | Financial assets at amortised cost, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 143,410 | 237,537 |
Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,406 | 11,349 |
Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,994 | 11,349 |
Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,412 | |
Securities issued by entities of the non-financial sector entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 961 | 5,233 |
Securities issued by entities of the non-financial sector entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 213,610 | 48,574 |
Other debt securities | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 63,825 | 72,389 |
Other debt securities | Investment securities [member] | Financial assets at amortised cost, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 36,635 | 38,756 |
Other debt securities | Investment securities [member] | Financial assets at amortised cost, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 27,190 | 33,633 |
Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 39,865 | 24,580 |
Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 20,585 | 24,515 |
Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,280 | 65 |
Other debt securities | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Other debt securities | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Other debt securities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Colombia, Pesos | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 212,635 | 310,160 |
Other debt securities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Foreign currency [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 449,815 | $ 542,261 |
RISK MANAGEMENT - Investment _2
RISK MANAGEMENT - Investment debt securities - Concentration by location (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Debt securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,438,606 | 35,995,562 |
Debt securities [member] | Gross carrying amount [member] | Countries | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,104,308 | 35,490,736 |
Debt securities [member] | Gross carrying amount [member] | Colombia | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,713,283 | 28,040,520 |
Debt securities [member] | Gross carrying amount [member] | Panama | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,952,223 | 4,381,752 |
Debt securities [member] | Gross carrying amount [member] | United States | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,421,010 | 2,213,308 |
Debt securities [member] | Gross carrying amount [member] | Brazil | ||
Disclosure of financial assets [line items] | ||
Financial assets | 114,879 | 264,073 |
Debt securities [member] | Gross carrying amount [member] | Mexico | ||
Disclosure of financial assets [line items] | ||
Financial assets | 410,599 | 221,754 |
Debt securities [member] | Gross carrying amount [member] | Costa Rica | ||
Disclosure of financial assets [line items] | ||
Financial assets | 95,643 | 143,513 |
Debt securities [member] | Gross carrying amount [member] | Chile | ||
Disclosure of financial assets [line items] | ||
Financial assets | 182,398 | 115,033 |
Debt securities [member] | Gross carrying amount [member] | Peru | ||
Disclosure of financial assets [line items] | ||
Financial assets | 177,096 | 102,190 |
Debt securities [member] | Gross carrying amount [member] | Paraguay | ||
Disclosure of financial assets [line items] | ||
Financial assets | 37,177 | 8,593 |
Debt securities [member] | Gross carrying amount [member] | Multilateral | ||
Disclosure of financial assets [line items] | ||
Financial assets | 334,298 | 504,826 |
Debt securities [member] | Gross carrying amount [member] | Multilateral - Bladex (Foreign Trade Bank of Latin America) | ||
Disclosure of financial assets [line items] | ||
Financial assets | 225,642 | 277,501 |
Debt securities [member] | Gross carrying amount [member] | Multilateral - Andean Development Corporation (Corporacion Andina de Fomento) | ||
Disclosure of financial assets [line items] | ||
Financial assets | 105,107 | 111,124 |
Debt securities [member] | Gross carrying amount [member] | Multilateral - International Bank for Reconstruction and Development | ||
Disclosure of financial assets [line items] | ||
Financial assets | 89,266 | |
Debt securities [member] | Gross carrying amount [member] | Multilateral - Inter-American Corporation for the Financing of Infrastructure | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 3,549 | $ 26,935 |
RISK MANAGEMENT - Investment _3
RISK MANAGEMENT - Investment debt securities - Concentration by sovereign risk - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 27,718,721 | $ 24,161,398 |
Central Government debt instruments held, Percentage | 100% | 100% |
Central Banks [Member] | ||
Disclosure of financial assets [line items] | ||
Central Bank debt instruments held, Percentage | 100% | 100% |
Total Sovereign Risk | $ 27,864,210 | $ 24,355,496 |
Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 25,238,131 | $ 21,302,046 |
Central Government debt instruments held, Percentage | 91.05% | 88.16% |
Investment grade [member] | Central Banks [Member] | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held, Percentage | 100% | 100% |
Central Bank debt instruments held | $ 145,489 | $ 194,098 |
Investment grade [member] | Colombia | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 22,768,597 | $ 17,942,244 |
Central Government debt instruments held, Percentage | 82.14% | 74.26% |
Investment grade [member] | Panama | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 1,077,656 | $ 1,126,942 |
Central Government debt instruments held, Percentage | 3.89% | 4.66% |
Investment grade [member] | Panama | Central Banks [Member] | ||
Disclosure of financial assets [line items] | ||
Central Bank debt instruments held | $ 145,489 | $ 194,098 |
Central Bank debt instruments held, Percentage | 100% | 100% |
Investment grade [member] | Mexico | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 16,268 | $ 19,552 |
Central Government debt instruments held, Percentage | 0.06% | 0.08% |
Investment grade [member] | United States | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 1,371,842 | $ 2,213,308 |
Central Government debt instruments held, Percentage | 4.95% | 9.16% |
Investment grade [member] | Chile | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 3,768 | |
Central Government debt instruments held, Percentage | 0.01% | |
Speculative grade [member] | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 2,480,590 | $ 2,859,352 |
Central Government debt instruments held, Percentage | 8.95% | 11.84% |
Speculative grade [member] | Colombia | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 2,384,493 | $ 2,731,647 |
Central Government debt instruments held, Percentage | 8.60% | 11.31% |
Speculative grade [member] | Brazil | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 27,643 | $ 32,834 |
Central Government debt instruments held, Percentage | 0.10% | 0.14% |
Speculative grade [member] | Costa Rica | ||
Disclosure of financial assets [line items] | ||
Central Government debt instruments held | $ 68,454 | $ 94,871 |
Central Government debt instruments held, Percentage | 0.25% | 0.39% |
RISK MANAGEMENT - Investment _4
RISK MANAGEMENT - Investment debt securities - Concentration by sovereign risk - Additional information (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of risk management [abstract] | ||
Investment in debt instrument as a percentage of total portfolio | 68.57% | 72.70% |
RISK MANAGEMENT - Modified Fina
RISK MANAGEMENT - Modified Financial Assets - Restructured loans (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Restructured loans | $ 5,993,586 | $ 4,729,815 |
Local | ||
Disclosure of financial assets [line items] | ||
Restructured loans | 4,346,710 | 3,081,868 |
Foreign | ||
Disclosure of financial assets [line items] | ||
Restructured loans | $ 1,646,876 | $ 1,647,947 |
RISK MANAGEMENT - Modified Fi_2
RISK MANAGEMENT - Modified Financial Assets - Foreclosed assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of risk management [abstract] | ||
Foreclosed assets received | $ 76,116 | $ 88,482 |
Foreclosed assets sold | $ 90,940 | $ 50,019 |
RISK MANAGEMENT - Modified Fi_3
RISK MANAGEMENT - Modified Financial Assets - Credit commitments (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Loan commitments and financial guarantee contracts [member] | ||
Disclosure of financial assets [line items] | ||
Notional amount | $ 29,798,544 | $ 31,008,169 |
Loan commitments and financial guarantee contracts [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Notional amount | 25,821,105 | 25,497,816 |
Loan commitments and financial guarantee contracts [member] | United States of America, Dollars | ||
Disclosure of financial assets [line items] | ||
Notional amount | 3,962,607 | 5,480,746 |
Loan commitments and financial guarantee contracts [member] | Euro Member Countries, Euro | ||
Disclosure of financial assets [line items] | ||
Notional amount | 13,585 | 27,934 |
Loan commitments and financial guarantee contracts [member] | Other Currency [Member] | ||
Disclosure of financial assets [line items] | ||
Notional amount | 1,247 | 1,673 |
Guarantees | ||
Disclosure of financial assets [line items] | ||
Notional amount | 3,052,607 | 4,679,653 |
Unused credit card limits | ||
Disclosure of financial assets [line items] | ||
Notional amount | 12,449,298 | 11,861,422 |
Approved credits not disbursed | ||
Disclosure of financial assets [line items] | ||
Notional amount | 4,818,508 | 5,037,950 |
Credit arrangements | ||
Disclosure of financial assets [line items] | ||
Notional amount | 4,223,426 | 4,119,577 |
Unused limits of overdrafts | ||
Disclosure of financial assets [line items] | ||
Notional amount | 2,264,226 | 2,491,299 |
Unused letters of credit | ||
Disclosure of financial assets [line items] | ||
Notional amount | 735,472 | 1,203,070 |
Other Commitments | ||
Disclosure of financial assets [line items] | ||
Notional amount | $ 2,255,007 | $ 1,615,198 |
RISK MANAGEMENT - Offset of fin
RISK MANAGEMENT - Offset of financial assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of offsetting of financial assets [line items] | ||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | $ 2,212,421 | $ 7,405,584 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 2,212,421 | 7,405,584 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (1,939,706) | (6,392,425) |
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (235,189) | (417,418) |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 37,526 | 595,741 |
Derivatives | ||
Disclosure of offsetting of financial assets [line items] | ||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 2,126,229 | 2,062,259 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 2,126,229 | 2,062,259 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (1,911,903) | (1,509,856) |
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (235,189) | (370,249) |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | (20,863) | 182,154 |
Repurchase agreements | ||
Disclosure of offsetting of financial assets [line items] | ||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 86,192 | 5,343,325 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 86,192 | 5,343,325 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (27,803) | (4,882,569) |
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (47,169) | |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | $ 58,389 | $ 413,587 |
RISK MANAGEMENT - Offset of f_2
RISK MANAGEMENT - Offset of financial liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of offsetting of financial liabilities [line items] | ||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | $ 16,738,860 | $ 10,109,242 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 16,738,860 | 10,109,242 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (17,188,037) | (11,357,021) |
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (1,271,035) | (1,641,832) |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | (1,720,212) | (2,889,611) |
Derivatives | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 2,371,927 | 1,761,174 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 2,371,927 | 1,761,174 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (313,095) | (265,295) |
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (245,344) | (316,446) |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 1,813,488 | 1,179,433 |
Repurchase agreements | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 14,366,933 | 8,348,068 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 14,366,933 | 8,348,068 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (16,874,942) | (11,091,726) |
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | (1,025,691) | (1,325,386) |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | $ (3,533,700) | $ (4,069,044) |
RISK MANAGEMENT - Trading book
RISK MANAGEMENT - Trading book risk - Assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 32,568,274 | 28,286,329 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Investment securities at fair value [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Debt securities [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 30,442,045 | 26,224,070 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Derivatives [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 48,662 | $ 20,854 |
RISK MANAGEMENT - Trading boo_2
RISK MANAGEMENT - Trading book risk - Liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Trading derivatives [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 2,154,361 | $ 1,757,606 |
RISK MANAGEMENT - Trading boo_3
RISK MANAGEMENT - Trading book risk - Net position (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial liabilities | 249,900,662 | 247,219,098 |
Market risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 32,568,274 | 28,286,329 |
Financial liabilities | 2,371,927 | 1,761,174 |
Net position | $ 30,196,347 | $ 26,525,155 |
RISK MANAGEMENT - Risk manageme
RISK MANAGEMENT - Risk management - Regulatory (Details) - Measure Trading Risk Method - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Banco de Bogota S.A. | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 639,228 | $ 759,624 |
Basis points of regulatory capital (as a percent) | 1.11% | 1.16% |
Banco de Occidente S.A. | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 218,355 | $ 272,515 |
Basis points of regulatory capital (as a percent) | 0.67% | 0.90% |
Banco Popular S.A. | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 336,718 | $ 147,685 |
Basis points of regulatory capital (as a percent) | 1.85% | 1.16% |
Banco Comercial AV Villas S.A. | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 47,004 | $ 96,711 |
Basis points of regulatory capital (as a percent) | 0.55% | 1.05% |
Corficolombiana | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 240,068 | $ 190,534 |
Basis points of regulatory capital (as a percent) | 5.19% | 4.84% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value | $ 10,927 | $ 13,808 |
Basis points of regulatory capital (as a percent) | 0.92% | 1.48% |
RISK MANAGEMENT - Risk manage_2
RISK MANAGEMENT - Risk management - Value at risk - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Interest rate risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | $ 440,804 | $ 440,531 |
Interest rate risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 217,031 | 173,355 |
Interest rate risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 299,985 | 121,194 |
Interest rate risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 46,209 | 84,749 |
Interest rate risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 221,409 | 160,195 |
Interest rate risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 18,822 | 29,363 |
Currency risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 160,165 | 171,517 |
Currency risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 717 | 15,681 |
Currency risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,221 | 5,796 |
Currency risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 10 | 98 |
Currency risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 4,381 | 23,090 |
Currency risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 597 | 976 |
Equity price risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 37,830 | 3,870 |
Equity price risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 6,586 | 147 |
Equity price risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,221 | 6,557 |
Equity price risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 1,973 | 2,541 |
Mutual funds | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 429 | 143,705 |
Mutual funds | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 607 | 83,479 |
Mutual funds | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 22,926 | 20,548 |
Mutual funds | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 785 | 11,864 |
Mutual funds | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,057 | 692 |
Mutual funds | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 3,094 | 788 |
Bottom of range [member] | Interest rate risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 423,347 | 426,736 |
Bottom of range [member] | Interest rate risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 179,858 | 173,355 |
Bottom of range [member] | Interest rate risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 82,783 | 121,194 |
Bottom of range [member] | Interest rate risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 46,209 | 82,312 |
Bottom of range [member] | Interest rate risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 190,139 | 148,170 |
Bottom of range [member] | Interest rate risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 12,190 | 25,698 |
Bottom of range [member] | Currency risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 105,390 | 87,497 |
Bottom of range [member] | Currency risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 717 | 99 |
Bottom of range [member] | Currency risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 5,050 | 4,290 |
Bottom of range [member] | Currency risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 1 | 9 |
Bottom of range [member] | Currency risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 4,381 | 3,828 |
Bottom of range [member] | Currency risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 115 | 93 |
Bottom of range [member] | Equity price risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 3,891 | 3,759 |
Bottom of range [member] | Equity price risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 148 | 140 |
Bottom of range [member] | Equity price risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,086 | 6,017 |
Bottom of range [member] | Equity price risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 1,710 | 1,404 |
Bottom of range [member] | Mutual funds | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 106 | 108,165 |
Bottom of range [member] | Mutual funds | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 569 | 75,869 |
Bottom of range [member] | Mutual funds | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,255 | 12,209 |
Bottom of range [member] | Mutual funds | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 221 | 158 |
Bottom of range [member] | Mutual funds | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,057 | 692 |
Bottom of range [member] | Mutual funds | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 457 | 788 |
Weighted average [member] | Interest rate risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 428,765 | 441,281 |
Weighted average [member] | Interest rate risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 205,998 | 196,810 |
Weighted average [member] | Interest rate risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 114,642 | 130,739 |
Weighted average [member] | Interest rate risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 65,592 | 99,727 |
Weighted average [member] | Interest rate risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 209,769 | 172,466 |
Weighted average [member] | Interest rate risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 24,500 | 40,927 |
Weighted average [member] | Currency risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 138,671 | 133,241 |
Weighted average [member] | Currency risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 3,662 | 3,354 |
Weighted average [member] | Currency risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 6,783 | 5,618 |
Weighted average [member] | Currency risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 46 | 48 |
Weighted average [member] | Currency risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 16,757 | 15,882 |
Weighted average [member] | Currency risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 978 | 577 |
Weighted average [member] | Equity price risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 12,573 | 4,182 |
Weighted average [member] | Equity price risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 687 | 143 |
Weighted average [member] | Equity price risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,501 | 9,308 |
Weighted average [member] | Equity price risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 2,347 | 2,579 |
Weighted average [member] | Mutual funds | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 3,860 | 118,107 |
Weighted average [member] | Mutual funds | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 15,259 | 80,639 |
Weighted average [member] | Mutual funds | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 16,714 | 15,952 |
Weighted average [member] | Mutual funds | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 6,930 | 2,090 |
Weighted average [member] | Mutual funds | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 8,187 | 1,087 |
Weighted average [member] | Mutual funds | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 2,650 | 5,504 |
Top of range [member] | Interest rate risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 440,804 | 460,435 |
Top of range [member] | Interest rate risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 251,416 | 243,326 |
Top of range [member] | Interest rate risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 299,985 | 144,932 |
Top of range [member] | Interest rate risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 86,967 | 120,545 |
Top of range [member] | Interest rate risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 227,913 | 185,935 |
Top of range [member] | Interest rate risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 38,914 | 61,686 |
Top of range [member] | Currency risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 175,945 | 179,646 |
Top of range [member] | Currency risk [member] | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 11,894 | 15,681 |
Top of range [member] | Currency risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 7,759 | 6,711 |
Top of range [member] | Currency risk [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 153 | 106 |
Top of range [member] | Currency risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 24,799 | 40,422 |
Top of range [member] | Currency risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 2,900 | 1,682 |
Top of range [member] | Equity price risk [member] | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 37,830 | 4,650 |
Top of range [member] | Equity price risk [member] | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 6,586 | 148 |
Top of range [member] | Equity price risk [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 8,007 | 13,350 |
Top of range [member] | Equity price risk [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 3,091 | 3,379 |
Top of range [member] | Mutual funds | Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 13,085 | 143,705 |
Top of range [member] | Mutual funds | Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 85,455 | 83,479 |
Top of range [member] | Mutual funds | Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 22,926 | 20,548 |
Top of range [member] | Mutual funds | Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 14,175 | 11,864 |
Top of range [member] | Mutual funds | Corporacion Financiera Colombiana S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | 9,856 | 1,609 |
Top of range [member] | Mutual funds | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Value at risk | $ 5,829 | $ 15,922 |
RISK MANAGEMENT - Risk manage_3
RISK MANAGEMENT - Risk management - Value at risk - Additional information (Details) - Market risk [member] | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Banco de Bogota S.A. | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 6.70% | 8.10% |
Banco de Occidente S.A. | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 5.20% | 7% |
Banco Comercial AV Villas S.A. | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 4.50% | 8.70% |
Banco Popular S.A. | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 8.80% | 7.70% |
Corficolombiana S.A | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 10.20% | 8.90% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of financial assets [line items] | ||
Market risk weighted assets as a percentage of total risk weighted assets | 13.70% | 16.90% |
RISK MANAGEMENT - Investment pr
RISK MANAGEMENT - Investment price risk in equity instruments (Details) - Equity investments - Investment securities at fair value [member] - Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Investment subject to Regulatory VaR | $ 43,765 | $ 44,122 |
Regulatory VaR | $ 6,433 | $ 6,486 |
Percentage of Portfolio subject to VaR | 100% | 100% |
More than 36 months [member] | ||
Disclosure of financial assets [line items] | ||
Investment subject to Regulatory VaR | $ 43,765 | $ 44,122 |
Regulatory VaR | $ 6,433 | $ 6,486 |
Percentage of Portfolio subject to VaR | 100% | 100% |
RISK MANAGEMENT - Structural fo
RISK MANAGEMENT - Structural foreign exchange risk - General information (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of risk management [abstract] | |
Percentage of Average Difference in Foreign Currency Denominated Rights and Foreign Currency Denominated Obligations on Unconsolidated Basis | 20% |
Percentage of Average Difference in Foreign Currency Denominated Rights and Foreign Currency Denominated Obligations on Consolidated Basis | 40% |
RISK MANAGEMENT - Structural _2
RISK MANAGEMENT - Structural foreign exchange risk - Financial assets (Details) $ in Millions, $ in Millions | Dec. 31, 2023 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2022 USD ($) |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 50,519,047 | $ 13,159 | 58,122,395 | $ 11,985 |
Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 60 | 98 | ||
Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 19,332,588 | 15,370,870 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Investment securities [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 34,425,693 | 33,674,477 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 30,739,665 | 8,043 | 35,699,330 | 7,421 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 1 | |||
Trading securities [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 15,451,121 | 11,841,407 | ||
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 15,451,121 | 11,841,407 | ||
Investment securities at fair value [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 24,446,014 | 23,939,915 | ||
Trade receivables [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,748,599 | 719 | 3,694,659 | 705 |
Trade receivables [member] | Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 63 | |||
IFRS Cash and Cash Equivalents [Member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 18,597,861 | 17,032,857 | ||
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 18,597,861 | 17,032,857 | ||
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 4,996,706 | 1,248 | 5,972,792 | 1,208 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 60 | 34 | ||
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,280,108 | 597 | 2,923,279 | 608 |
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Trading securities [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 7,113,380 | 3,760,887 | ||
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 7,113,380 | 3,760,887 | ||
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 298,792 | 78 | 180,032 | 37 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 7,376,923 | 1,930 | 8,135,015 | 1,691 |
Derivatives [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,126,229 | 2,062,259 | ||
Derivatives [member] | Trading securities [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,077,567 | 2,041,405 | ||
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,077,567 | 2,041,405 | ||
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 2,077,567 | $ 544 | 1,512,459 | 314 |
Derivatives [member] | Hedging instruments [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 48,662 | 20,854 | ||
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 48,662 | 20,854 | ||
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | $ 687 | $ 4,829 | $ 1 |
RISK MANAGEMENT - Structural _3
RISK MANAGEMENT - Structural foreign exchange risk - Financial liabilities (Details) $ in Millions, $ in Millions | Dec. 31, 2023 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2022 USD ($) |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | $ 249,900,662 | $ 247,219,098 | ||
Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 61,207,878 | $ 15,979 | 76,780,619 | $ 15,938 |
Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 35 | 24 | ||
Financial liabilities at fair value through profit or loss, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 2,371,927 | 1,761,174 | ||
Financial liabilities at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 247,528,735 | 245,457,924 | ||
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 2,154,361 | 1,757,606 | ||
Customer deposits [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 181,987,396 | 173,341,149 | ||
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 181,987,396 | 173,341,149 | ||
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 27,070,411 | 7,048 | 31,269,619 | 6,482 |
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 34 | 19 | ||
Financial obligations [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 65,541,339 | 72,116,775 | ||
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 65,541,339 | 72,116,775 | ||
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 30,857,352 | 8,072 | 43,779,895 | 9,097 |
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 1 | 5 | ||
IFRS Accounts Payable [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 921,552 | 242 | 587,589 | 122 |
Derivatives [member] | Trading derivatives [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 2,154,361 | 1,757,606 | ||
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 2,154,361 | 1,757,606 | ||
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 2,154,361 | 564 | 1,141,963 | $ 237 |
Derivatives [member] | Hedging instruments [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 217,566 | 3,568 | ||
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | 217,566 | 3,568 | ||
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial liabilities | $ 204,202 | $ 53 | $ 1,553 |
RISK MANAGEMENT - Structural _4
RISK MANAGEMENT - Structural foreign exchange risk - Net financial asset (liability) position (Details) $ in Millions, $ in Millions | Dec. 31, 2023 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2022 USD ($) |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial liabilities | 249,900,662 | 247,219,098 | ||
Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 50,519,047 | $ 13,159 | 58,122,395 | $ 11,985 |
Financial liabilities | 61,207,878 | 15,979 | 76,780,619 | 15,938 |
Net financial asset (liability) position | $ (10,688,831) | (2,820) | $ (18,658,224) | (3,953) |
Other Currency [Member] | Currency risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets | 60 | 98 | ||
Financial liabilities | 35 | 24 | ||
Net financial asset (liability) position | $ 25 | $ 74 |
RISK MANAGEMENT - Structural _5
RISK MANAGEMENT - Structural foreign exchange risk - Sensitivity analysis of foreign exchange effect (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of risk management [abstract] | ||
Equity, increase Ps.100 per U.S. dollar | $ 2,840 | $ 13,538 |
Equity, decrease Ps.100 per U.S. dollar | (2,840) | (13,538) |
Profit and loss before taxes, increase Ps.100 per U.S. dollar | (174,869) | (156,263) |
Profit and loss before taxes, decrease Ps.100 per U.S. dollar | $ 174,869 | $ 156,263 |
RISK MANAGEMENT - Structural in
RISK MANAGEMENT - Structural interest rate risk - Financial assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 271,243,126 | 265,104,769 |
Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 33,479,825 | 29,273,703 |
Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 26,808,123 | 36,442,070 |
Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 56,771,486 | 56,506,570 |
Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 20,858,928 | 11,577,930 |
Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 133,324,764 | 131,304,496 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Investment securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 176,168,055 | 179,115,847 |
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 102,145,802 | 105,248,652 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 101,753,217 | 99,282,353 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 107,047,817 | 104,775,099 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 12,496,990 | 14,928,623 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,530,829 | 43,243,207 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 11,530,367 | 9,111,072 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 34,489,631 | 37,492,197 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,585 | 5,966,299 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,607 | 5,967,743 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 247,668 | 5,669,519 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 144,939 | 298,224 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 55,692,165 | 56,107,532 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 59,999,611 | 59,419,444 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 4,014,604 | 4,310,303 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,485,355 | 3,698,330 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,627,002 | 1,321,030 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 50,872,650 | 50,089,781 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,106,219 | 17,530,914 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,486,206 | 17,883,355 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,369,639 | 4,124,086 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 218,540 | 84,730 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 6,817 | 12,666 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 14,891,210 | 13,661,873 |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 223,869 | 228,749 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 277,529 | 267,720 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,946 | 19,228 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 11,431 | 10,989 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 33,079 | 31,573 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 209,073 | 205,930 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 20,447,860 | 18,307,790 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 12,346 | |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 4,380 | 162 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,207 | |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,704,180 | 1,947,806 |
Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Investment securities at fair value [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Service concession arrangements [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 17,812,820 | 16,153,016 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
IFRS Cash and Cash Equivalents [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 13,031,965 | 10,965,913 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 5,563,358 | 6,066,944 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 854 | |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,684 | |
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 927,454 | 967,123 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,402,597 | 5,543,804 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,389,804 | 294,035 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,276,706 | 2,966,530 |
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 41,179 | 75,943 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 251,925 | 715,117 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 539,012 | 107,442 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 6,281,264 | 2,862,385 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 439 | |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,450 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 110,939 | 280,301 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 720,636 | 2,912,007 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,727,517 | 700,112 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 18,767,684 | $ 18,569,385 |
RISK MANAGEMENT - Structural _6
RISK MANAGEMENT - Structural interest rate risk - Financial liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,561,408 | 20,846,622 |
Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 101,750,140 | 100,123,943 |
Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 52,980,589 | 56,078,186 |
Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 36,983,332 | 23,736,612 |
Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 48,253,266 | 44,672,561 |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Customer deposits [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,809,859 | 25,932,053 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,159,048 | 20,005,117 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,746,654 | 5,926,936 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 11,904,157 | |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 86,597,460 | 72,273,697 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 8,037,475 | 7,008,761 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 39,999,744 | 33,911,426 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 21,559,845 | 19,107,280 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 17,000,396 | 12,246,230 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 71,149,883 | 74,293,894 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 71,149,883 | 74,293,894 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 430,194 | 841,505 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 402,360 | 841,505 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 12,379 | |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 15,455 | |
Financial obligations [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 15,081,920 | 9,087,921 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 13,298,927 | 7,608,690 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,762,116 | 835,124 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 77,463 | |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 20,877 | 566,644 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,791,748 | 2,335,944 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 3,962 | 3,417 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 55,871 | 48,775 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 77,762 | 91,354 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,654,153 | 2,192,398 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 19,426,712 | 27,973,414 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,001,170 | 2,262,503 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 6,011,525 | 14,698,824 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,710,163 | 3,877,438 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 8,703,854 | 7,134,649 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,427,826 | 28,362,221 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 58,142 | 633,431 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,053,694 | 5,875,058 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 565,465 | 543,176 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 18,750,525 | 21,310,556 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,813,133 | 4,357,275 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Not later than one month [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,441,548 | 2,386,311 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Later than one month and not later than six months [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,082,184 | 708,979 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Later than six months and not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 165,940 | 39,901 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 1,123,461 | $ 1,222,084 |
RISK MANAGEMENT - Structural _7
RISK MANAGEMENT - Structural interest rate risk - Accounting sensitivity exercise (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of risk management [abstract] | ||
Accounting sensitivity exercise to variations in interest rates, basis point increase (as a percent) | 1% | 1% |
Accounting sensitivity exercise to variations in interest rates, 100 basis point increase, net income before income tax expense, increase (decrease), amount | $ 254,981 | $ 353,827 |
Accounting sensitivity exercise to variations in interest rates, 100 basis point increase, net income before income tax expense, increase (decrease), percentage (as a percent) | 4% | 4.60% |
Accounting sensitivity exercise to variations in interest rates, 100 basis point increase, other comprehensive income (loss) in equity, amount | $ 518,156 | $ 538,385 |
RISK MANAGEMENT - Structural _8
RISK MANAGEMENT - Structural interest rate risk - Interest bearing assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 271,243,126 | 265,104,769 |
Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 133,324,764 | 131,304,496 |
Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 54,588,642 | 51,763,530 |
Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 57,462,890 | 62,884,699 |
Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 33,226,626 | 33,718,743 |
Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 92,485,143 | 87,464,094 |
Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 33,479,825 | 29,273,703 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Investment securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 176,168,055 | 179,115,847 |
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 102,145,802 | 105,248,652 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 101,753,217 | 99,282,353 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 107,047,817 | 104,775,099 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 34,489,631 | 37,492,197 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 45,221,180 | 42,226,647 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 43,030,934 | 47,072,091 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 11,797,765 | 9,808,684 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 6,997,938 | 5,667,677 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,585 | 5,966,299 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,607 | 5,967,743 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 47,128 | |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,607 | 5,920,615 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 55,692,165 | 56,107,532 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 59,999,611 | 59,419,444 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 50,872,650 | 50,089,781 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 929,574 | 1,006,251 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 5,516,791 | 6,199,484 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 9,750,154 | 8,380,874 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 43,803,092 | 43,832,835 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,106,219 | 17,530,914 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,486,206 | 17,883,355 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 14,891,210 | 13,661,873 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 53,719 | 44,520 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,498,709 | 4,166,107 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 811,497 | 708,435 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 14,122,281 | 12,964,293 |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 223,869 | 228,749 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 277,529 | 267,720 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 209,073 | 205,930 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,170 | 1,296 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 696 | 1,001 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 161,497 | 154,055 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 114,166 | 111,368 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,704,180 | 1,947,806 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,707 | 162 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 325,016 | 305,684 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,380,390 | 1,642,122 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 20,447,860 | 18,307,790 |
Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Investment securities at fair value [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Service concession arrangements [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 17,812,820 | 16,153,016 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
IFRS Cash and Cash Equivalents [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,799,607 | 2,682,724 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,766,289 | 3,384,220 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 13,031,965 | 10,965,913 |
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,276,706 | 2,966,530 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 5,112,355 | 4,555,437 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 133,704 | 243,662 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,607,500 | 2,326,296 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,143,002 | 2,646,097 |
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 6,281,264 | 2,862,385 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 319,900 | 337,636 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 109,777 | 134,897 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 512,216 | 425,970 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 6,171,487 | 2,862,384 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,450 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 439 | |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,450 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,767,684 | 18,569,385 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 132,430 | 861,729 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,016,347 | 1,254,542 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 4,426,662 | 2,609,594 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 17,751,337 | $ 17,735,940 |
RISK MANAGEMENT - Structural _9
RISK MANAGEMENT - Structural interest rate risk - Interest bearing liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 48,253,266 | 44,672,561 |
Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 31,876,425 | 41,968,426 |
Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,699,745 | 21,464,096 |
Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 150,771,053 | 129,395,293 |
Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 33,620,104 | 31,783,487 |
Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,561,408 | 20,846,622 |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Customer deposits [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,809,859 | 25,932,053 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,857,769 | 735,536 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 14,793,042 | 5,191,400 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,159,048 | 20,005,117 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 86,597,460 | 72,273,697 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 17,000,396 | 12,246,230 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 13,167,807 | 14,474,525 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 5,711,093 | 5,887,596 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 53,716,494 | 40,361,808 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 14,002,066 | 11,549,768 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 71,149,883 | 74,293,894 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 8,492,708 | 10,472,330 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,168,328 | |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 62,657,175 | 62,653,236 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 430,194 | 841,505 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 12,379 | |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 15,455 | |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Non-interest [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 402,360 | 841,505 |
Financial obligations [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 15,081,920 | 9,087,921 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 20,877 | 566,644 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,023,612 | 2,611,592 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,497,949 | |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 14,037,431 | 1,978,380 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 20,877 | |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,791,748 | 2,335,944 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,654,153 | 2,192,398 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,989 | 897,471 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 356,454 | 244,062 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 115,379 | 181,509 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,316,926 | 1,012,902 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 19,426,712 | 27,973,414 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 8,703,854 | 7,134,649 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 6,089,836 | 8,862,681 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,158,457 | 1,987,704 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,531,168 | 13,195,008 |
Borrowing from banks and similar [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,647,251 | 3,928,021 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,427,826 | 28,362,221 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 18,750,525 | 21,310,556 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 812,106 | 3,600,832 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,133,109 | 4,556,550 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 771,189 | 5,662,371 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 14,711,422 | 14,542,468 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 4,813,133 | 4,357,275 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,123,461 | 1,222,084 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 417,219 | 313,459 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Floating interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 3,340,632 | 3,121,907 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Not later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 133,720 | 171,581 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Fixed interest rate [member] | Later than one year [member] | Interest rate risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 921,562 | $ 750,328 |
RISK MANAGEMENT - Liquidity Ris
RISK MANAGEMENT - Liquidity Risk - Percentages in each country (Details) - Colombia | 12 Months Ended |
Dec. 31, 2023 | |
Checking account and Savings accounts | |
Disclosure of financial assets [line items] | |
Percentage of deposits to be maintained as reserves | 8% |
Time deposits up to eighteen months | |
Disclosure of financial assets [line items] | |
Percentage of deposits to be maintained as reserves | 3.50% |
Time deposits over than eighteen months | |
Disclosure of financial assets [line items] | |
Percentage of deposits to be maintained as reserves | 0% |
RISK MANAGEMENT - Liquidity R_2
RISK MANAGEMENT - Liquidity Risk - Liquid assets and LRI (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Banco de Bogota S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | $ 11,924,823 | $ 11,749,890 |
Banco de Occidente S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 8,638,565 | 7,858,675 |
Banco Popular S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 4,896,134 | 5,283,312 |
Banco Comercial AV Villas S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 2,328,186 | 2,299,072 |
Corporacion Financiera Colombiana S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 2,073,055 | 2,204,574 |
Later than one day and not later than seven days [member] | Banco de Bogota S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 9,811,253 | 10,865,287 |
Later than one day and not later than seven days [member] | Banco de Occidente S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 6,727,345 | 6,955,066 |
Later than one day and not later than seven days [member] | Banco Popular S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 4,641,802 | 4,141,163 |
Later than one day and not later than seven days [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 2,027,630 | 1,828,016 |
Later than one day and not later than seven days [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 1,138,855 | 1,595,742 |
Not later than one month [member] | Banco de Bogota S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 2,568,828 | 6,445,745 |
Not later than one month [member] | Banco de Occidente S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 2,531,186 | 3,243,471 |
Not later than one month [member] | Banco Popular S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 1,525,529 | 1,588,642 |
Not later than one month [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 992,892 | 487,831 |
Not later than one month [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets | 222,748 | 729,790 |
Later than one month and not later than three months [member] | Banco de Bogota S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets (liabilities) | (15,278,208) | (15,602,231) |
Later than one month and not later than three months [member] | Banco de Occidente S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets (liabilities) | (8,473,508) | (5,830,252) |
Later than one month and not later than three months [member] | Banco Popular S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets (liabilities) | (5,458,950) | (5,038,168) |
Later than one month and not later than three months [member] | Banco Comercial AV Villas S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets (liabilities) | (2,408,230) | (3,202,904) |
Later than one month and not later than three months [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Liquid assets (liabilities) | $ (893,740) | $ (358,231) |
RISK MANAGEMENT - Liquidity R_3
RISK MANAGEMENT - Liquidity Risk - Amount of IRL ratio (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Banco de Bogota S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | $ 9,811 | $ 10,865 |
Banco de Bogota S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 2,569 | 6,446 |
Banco de Occidente S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 5,610 | 5,338 |
Banco de Occidente S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 1,816 | 1,921 |
Banco Popular S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 4,642 | 4,141 |
Banco Popular S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 1,526 | 1,589 |
Banco Comercial AV Villas S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 2,028 | 1,828 |
Banco Comercial AV Villas S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 993 | 488 |
Corporacion Financiera Colombiana S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | 1,207 | 1,542 |
Corporacion Financiera Colombiana S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Amount of IRL ratio | $ 661 | $ 866 |
RISK MANAGEMENT - Liquidity R_4
RISK MANAGEMENT - Liquidity Risk - Percentage of IRL ratio (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Banco de Bogota S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 564% | 1,328% |
Banco de Bogota S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 127% | 222% |
Banco de Occidente S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 419% | 744% |
Banco de Occidente S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 133% | 145% |
Banco Popular S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 1,925% | 463% |
Banco Popular S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 145% | 143% |
Banco Comercial AV Villas S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 775% | 488% |
Banco Comercial AV Villas S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 174% | 127% |
Corporacion Financiera Colombiana S.A. | Later than one day and not later than seven days [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 255% | 358% |
Corporacion Financiera Colombiana S.A. | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of IRL ratio | 150% | 168% |
RISK MANAGEMENT - Liquidity R_5
RISK MANAGEMENT - Liquidity Risk - Undiscounted cash flows of financial assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 337,309,300 | 328,949,059 |
Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 39,071,714 | 43,474,660 |
Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 44,742,133 | 43,934,052 |
Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 38,106,299 | 36,765,427 |
Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 215,389,154 | 204,774,920 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Investment securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 176,168,055 | 179,115,847 |
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 102,145,802 | 105,248,652 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 101,753,217 | 99,282,353 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 128,202,200 | 122,270,106 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 11,914,475 | 10,636,895 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 30,973,505 | 29,541,405 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 21,141,485 | 18,415,847 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 64,172,735 | 63,675,959 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,585 | 5,966,299 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,679 | 5,967,059 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 392,679 | 5,966,991 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 68 | |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 55,692,165 | 56,107,532 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 81,952,114 | 81,539,837 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,158,202 | 2,189,168 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,770,536 | 7,398,698 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 8,209,258 | 7,879,319 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 63,814,118 | 64,072,652 |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,106,219 | 17,530,914 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 35,564,956 | 31,401,920 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 343,857 | 272,343 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 978,325 | 857,162 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,013,632 | 867,775 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 33,229,142 | 29,404,640 |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 223,869 | 228,749 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 359,121 | 341,184 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 38,412 | 33,737 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 87,318 | 83,934 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 86,420 | 82,723 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 146,971 | 140,790 |
Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Investment securities at fair value [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Trade receivables [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 26,003,539 | 23,761,009 |
Trade receivables [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,127,198 | 2,510,396 |
Trade receivables [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 113,763 | 161 |
Trade receivables [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 29,350 | 15,517 |
Trade receivables [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 22,733,228 | 21,234,935 |
Other financial assets [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 877,395 | 1,873,349 |
Other financial assets [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 156,961 | 298,780 |
Other financial assets [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 5 | 50,200 |
Other financial assets [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 720,429 | 1,524,369 |
IFRS Cash and Cash Equivalents [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,597,861 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,605,041 | 17,032,857 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 18,602,500 | 17,032,854 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 857 | 3 |
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,684 | |
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 8,770,191 | 10,582,004 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 693,748 | 837,574 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,693,803 | 3,332,038 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,947,927 | 3,352,039 |
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,434,713 | 3,060,353 |
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 8,618,801 | 4,632,709 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 280,749 | 418,517 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 291,449 | 342,829 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 702,337 | 543,610 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 7,344,266 | 3,327,753 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,889 | 1,378 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 23,326,776 | 22,461,805 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 25,879,758 | 27,463,202 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 142,920 | 2,019,842 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,192,286 | 2,008,753 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 3,861,978 | 5,356,480 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 20,682,574 | 18,078,127 |
Derivatives [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Trading securities [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 2,034,843 | 2,062,969 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,172,036 | 1,242,228 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 640,291 | 367,115 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 111,538 | 199,530 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 110,978 | 254,096 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 48,662 | 20,854 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Not later than one month [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 47,977 | 15,335 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one month and not later than six months [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 1,886 | |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than six months and not later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 685 | 2,387 |
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Later than one year [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 1,246 |
RISK MANAGEMENT - Liquidity R_6
RISK MANAGEMENT - Liquidity Risk - Undiscounted cash flows of financial liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 284,426,805 | 275,800,439 |
Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 132,822,027 | 124,182,314 |
Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 46,667,522 | 49,616,576 |
Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 29,752,219 | 29,788,444 |
Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 75,185,037 | 72,213,105 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Customer deposits [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,809,859 | 25,932,054 |
Checking accounts [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 23,809,859 | 25,932,054 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 95,962,832 | 79,998,235 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 14,800,170 | 9,555,229 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 35,683,285 | 31,700,316 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 24,156,548 | 20,831,413 |
Time deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 21,322,829 | 17,911,277 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 71,149,882 | 74,293,894 |
Saving deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 71,149,882 | 74,293,894 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 430,193 | 841,507 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 374,711 | 538,387 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 54,195 | 301,996 |
Other deposits [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,287 | 1,124 |
Financial obligations [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 15,115,554 | 9,211,511 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 13,305,891 | 6,179,455 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,788,786 | 771,719 |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 77,350 | |
Interbank and overnight funds [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 20,877 | 2,182,987 |
Borrowing from banks and other [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 22,831,652 | 30,206,039 |
Borrowing from banks and other [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,663,276 | 2,118,373 |
Borrowing from banks and other [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 6,250,680 | 11,036,815 |
Borrowing from banks and other [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 3,090,588 | 6,878,016 |
Borrowing from banks and other [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 11,827,108 | 10,172,835 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 28,873,094 | 36,093,722 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 121,155 | 356,759 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,272,012 | 3,550,122 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,344,746 | 1,144,997 |
IFRS Long-term Debt [Member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 26,135,181 | 31,041,844 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 3,318,878 | 2,444,130 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 13,938 | 12,387 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 106,429 | 90,521 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 120,495 | 140,578 |
Leases contracts liabilities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 3,078,016 | 2,200,644 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 12,849,440 | 8,529,748 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 837,304 | 178,136 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 657,920 | 1,439,502 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 689,454 | 485,447 |
Borrowing from development entities [member] | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 10,664,762 | 6,426,663 |
Other financial liabilities. | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 7,750,124 | 6,293,930 |
Other financial liabilities. | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 5,278,275 | 4,155,257 |
Other financial liabilities. | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 330,995 | 145,183 |
Other financial liabilities. | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 189,229 | |
Other financial liabilities. | Financial liabilities at amortised cost, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,951,625 | 1,993,490 |
Derivatives [member] | Trading derivatives [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 2,118,767 | 1,950,270 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 1,263,315 | 860,852 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 522,915 | 579,886 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 155,907 | 230,643 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 176,630 | 278,889 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 216,530 | 5,399 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 204,251 | 1,531 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 305 | 516 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | 5,252 | |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | Liquidity risk [member] | Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial liabilities | $ 6,722 | $ 3,352 |
RISK MANAGEMENT - Liquidity R_7
RISK MANAGEMENT - Liquidity Risk - Undiscounted cash flows of commitment loans (Details) - Liquidity risk [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | $ 24,849,251 | $ 23,108,555 |
Financial guarantee contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 2,422,146 | 3,552,304 |
Standby letters of credit | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 736,473 | 948,455 |
Overdraft facility [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 2,264,226 | 2,491,299 |
Standby credit card facility | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 12,449,298 | 11,861,422 |
Undrawn approved loans | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 4,220,322 | 3,231,548 |
Other Commitments | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 2,756,786 | 1,023,527 |
Not later than one month [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 23,290,847 | 20,988,794 |
Not later than one month [member] | Financial guarantee contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 1,813,970 | 2,129,962 |
Not later than one month [member] | Standby letters of credit | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 606,747 | 947,723 |
Not later than one month [member] | Overdraft facility [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 2,264,226 | 2,491,299 |
Not later than one month [member] | Standby credit card facility | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 11,917,268 | 11,263,240 |
Not later than one month [member] | Undrawn approved loans | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 4,002,210 | 3,133,043 |
Not later than one month [member] | Other Commitments | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 2,686,426 | 1,023,527 |
Later than one month and not later than six months [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 570,291 | 368,139 |
Later than one month and not later than six months [member] | Financial guarantee contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 80,012 | 142,987 |
Later than one month and not later than six months [member] | Standby letters of credit | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 89,801 | 714 |
Later than one month and not later than six months [member] | Standby credit card facility | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 112,006 | 125,933 |
Later than one month and not later than six months [member] | Undrawn approved loans | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 218,112 | 98,505 |
Later than one month and not later than six months [member] | Other Commitments | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 70,360 | |
Later than six months and not later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 115,250 | 155,590 |
Later than six months and not later than one year [member] | Financial guarantee contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 30,320 | 61,140 |
Later than six months and not later than one year [member] | Standby letters of credit | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 925 | |
Later than six months and not later than one year [member] | Standby credit card facility | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 84,005 | 94,450 |
Later than one year [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 872,863 | 1,596,032 |
Later than one year [member] | Financial guarantee contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 497,844 | 1,218,215 |
Later than one year [member] | Standby letters of credit | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | 39,000 | 18 |
Later than one year [member] | Standby credit card facility | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Commitments loans | $ 336,019 | $ 377,799 |
RISK MANAGEMENT - Regulatory ca
RISK MANAGEMENT - Regulatory capital management (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Capital Conversion Buffer | 1.50% |
Systematic Risk Buffer | 1% |
Decrees established a minimum leverage ratio | 3% |
Bottom of range [member] | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Solvency Risk Ratio | 9% |
Basic Solvency Risk Ratio | 4.50% |
Additional Tier 1 Percentage | 6% |
RISK MANAGEMENT - Minimum regul
RISK MANAGEMENT - Minimum regulatory capital requirements (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 23,744 | $ 23,744 |
Other comprehensive income | (544,219) | (1,146,565) |
Net income for the period | 7,731,773 | 8,018,417 |
Non-controlling interests | $ 14,737,744 | 14,354,689 |
Deductions: | ||
Leverage ratio | 3% | |
Banco de Bogota S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 3,553 | 3,553 |
Reserves and retained earnings | 14,635,826 | 13,507,497 |
Other comprehensive income | 8,114 | 51,008 |
Net income for the period | 1,024,884 | 2,251,716 |
Deductions: | ||
Unconsolidated financial sector investments | (3,364,280) | |
Goodwill and other intangibles | (1,220,146) | (1,054,448) |
Deferred tax assets | (815,194) | (1,306,888) |
CET1 | 13,637,037 | 10,088,159 |
Tier I | 13,637,037 | 10,088,159 |
Subordinated instruments | 2,573,696 | 3,135,871 |
Plus/minus others | 160,637 | 424,829 |
Tier II capital | 2,734,333 | 3,560,700 |
Technical capital | 16,371,370 | 13,648,858 |
Risk-weighted assets | 76,811,668 | 68,771,856 |
Market risk | 491,571 | 495,392 |
Market risk exposure | 5,461,900 | 5,504,360 |
Operational Risk | 521,135 | 527,420 |
Operational risk exposure | 5,790,384 | 5,860,219 |
Risk-weighted assets including regulatory market risk and operational risk | $ 88,063,952 | $ 80,136,435 |
CET1 solvency ratio | 15.49% | 12.59% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 15.49% | 12.59% |
Tier II solvency ratio | 3.10% | 4.44% |
Total solvency ratio | 18.59% | 17.03% |
Capital measure | $ 13,637,037 | $ 10,088,159 |
Exposure measure | $ 120,114,582 | $ 106,717,652 |
Leverage ratio | 11.35% | 9.45% |
Banco de Bogota S.A. | Consolidated basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 3,553 | $ 3,553 |
Reserves and retained earnings | 14,988,657 | 13,301,448 |
Other comprehensive income | (122,944) | 41,828 |
Net income for the period | 954,173 | 2,804,925 |
Deductions: | ||
Unconsolidated financial sector investments | (3,261,888) | |
Goodwill and other intangibles | (1,504,225) | (1,416,196) |
Deferred tax assets | (672,813) | (1,035,857) |
Other | (1,431) | (111) |
CET1 | 13,644,969 | 10,437,701 |
Tier I | 13,644,969 | 10,437,701 |
Subordinated instruments | 2,573,696 | 3,135,871 |
Tier II capital | 2,573,696 | 3,135,871 |
Technical capital | 16,218,665 | 13,573,572 |
Risk-weighted assets | 91,625,712 | 88,898,130 |
Market risk | 639,228 | 759,624 |
Market risk exposure | 7,102,531 | 8,440,262 |
Operational Risk | 612,546 | 577,099 |
Operational risk exposure | 6,806,068 | 6,412,206 |
Risk-weighted assets including regulatory market risk and operational risk | $ 105,534,310 | $ 103,750,598 |
CET1 solvency ratio | 12.93% | 10.06% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 12.93% | 10.06% |
Tier II solvency ratio | 2.44% | 3.02% |
Total solvency ratio | 15.37% | 13.08% |
Capital measure | $ 13,644,969 | $ 10,437,701 |
Exposure measure | $ 141,766,918 | $ 136,096,623 |
Leverage ratio | 9.62% | 7.67% |
Banco de Occidente S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 4,677 | $ 4,677 |
Reserves and retained earnings | 4,782,349 | 4,525,930 |
Other comprehensive income | 28,731 | (124,708) |
Net income for the period | 430,603 | 502,643 |
Deductions: | ||
Unconsolidated financial sector investments | (224,184) | |
Goodwill and other intangibles | (643,350) | (586,129) |
Deferred tax assets | (251,878) | (144,581) |
Other | (2,867) | (4,190) |
CET1 | 4,348,265 | 3,949,457 |
Tier I | 4,348,265 | 3,949,457 |
Subordinated instruments | 649,305 | 834,895 |
Plus/minus others | 26,190 | 85,332 |
Tier II capital | 675,495 | 920,227 |
Technical capital | 5,023,760 | 4,869,684 |
Risk-weighted assets | 38,073,928 | 34,616,008 |
Market risk | 184,778 | 229,199 |
Market risk exposure | 2,053,092 | 2,546,656 |
Operational Risk | 235,639 | 203,225 |
Operational risk exposure | 2,618,213 | 2,258,057 |
Risk-weighted assets including regulatory market risk and operational risk | $ 42,745,234 | $ 39,420,721 |
CET1 solvency ratio | 10.17% | 10.02% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 10.17% | 10.02% |
Tier II solvency ratio | 1.58% | 2.33% |
Total solvency ratio | 11.75% | 12.35% |
Capital measure | $ 4,348,265 | $ 3,949,457 |
Exposure measure | $ 65,855,871 | $ 56,629,015 |
Leverage ratio | 6.60% | 6.97% |
Banco de Occidente S.A. | Consolidated basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 4,677 | $ 4,677 |
Reserves and retained earnings | 4,996,111 | 4,791,295 |
Other comprehensive income | 176,033 | (65,254) |
Net income for the period | 473,554 | 452,493 |
Non-controlling interests | 11,843 | |
Deductions: | ||
Unconsolidated financial sector investments | (226,950) | |
Goodwill and other intangibles | (594,581) | (533,300) |
Other | (2,867) | (4,190) |
CET1 | 5,064,770 | 4,418,771 |
Tier I | 5,064,770 | 4,418,771 |
Subordinated instruments | 649,305 | 834,895 |
Tier II capital | 649,305 | 834,895 |
Technical capital | 5,714,075 | 5,253,666 |
Risk-weighted assets | 41,324,390 | 37,591,858 |
Market risk | 218,356 | 272,515 |
Market risk exposure | 2,426,174 | 3,027,946 |
Operational Risk | 236,239 | 227,231 |
Operational risk exposure | 2,624,877 | 2,524,786 |
Risk-weighted assets including regulatory market risk and operational risk | $ 46,375,441 | $ 43,144,590 |
CET1 solvency ratio | 10.92% | 10.24% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 10.92% | 10.24% |
Tier II solvency ratio | 1.40% | 1.94% |
Total solvency ratio | 12.32% | 12.18% |
Capital measure | $ 5,064,770 | $ 4,418,771 |
Exposure measure | $ 70,759,147 | $ 62,211,737 |
Leverage ratio | 7.16% | 7.10% |
Banco Popular S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 77,253 | $ 77,253 |
Reserves and retained earnings | 2,839,567 | 2,751,656 |
Other comprehensive income | 79,481 | 68,673 |
Net income for the period | (347,409) | 73,035 |
Deductions: | ||
Unconsolidated financial sector investments | (355,124) | |
Goodwill and other intangibles | (361,170) | (288,139) |
Other | (87,539) | (157,747) |
CET1 | 2,200,184 | 2,169,608 |
Tier I | 2,200,184 | 2,169,608 |
Subordinated instruments | 327,018 | 177,147 |
Plus/minus others | 20,775 | 25,697 |
Tier II capital | 347,793 | 202,844 |
Technical capital | 2,547,976 | 2,372,452 |
Risk-weighted assets | 16,670,146 | 18,453,236 |
Market risk | 83,118 | 136,503 |
Market risk exposure | 923,539 | 1,516,695 |
Operational Risk | 136,419 | 112,786 |
Operational risk exposure | 1,515,762 | 1,253,181 |
Risk-weighted assets including regulatory market risk and operational risk | $ 19,109,447 | $ 21,223,112 |
CET1 solvency ratio | 11.51% | 10.22% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 11.51% | 10.22% |
Tier II solvency ratio | 1.82% | 0.96% |
Total solvency ratio | 13.33% | 11.18% |
Capital measure | $ 2,200,184 | $ 2,169,608 |
Exposure measure | $ 29,393,566 | $ 32,226,919 |
Leverage ratio | 7.49% | 6.73% |
Banco Popular S.A. | Consolidated basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 77,253 | $ 77,253 |
Reserves and retained earnings | 2,981,939 | 2,876,025 |
Other comprehensive income | 222,322 | 198,193 |
Net income for the period | (402,676) | 80,210 |
Non-controlling interests | 6,794,087 | 29,714 |
Deductions: | ||
Unconsolidated financial sector investments | (355,124) | |
Goodwill and other intangibles | (446,032) | (293,825) |
Other | (89,253) | (157,747) |
CET1 | 9,137,641 | 2,454,700 |
Tier I | 9,137,641 | 2,454,700 |
Subordinated instruments | 77,018 | 177,147 |
Tier II capital | 77,018 | 177,147 |
Other deductions from technical capital | (36,876) | |
Technical capital | 9,177,782 | 2,631,847 |
Risk-weighted assets | 36,166,365 | 18,473,302 |
Market risk | 336,718 | 147,685 |
Market risk exposure | 3,741,309 | 1,640,943 |
Operational Risk | 462,427 | 115,899 |
Operational risk exposure | 5,138,073 | 1,287,767 |
Risk-weighted assets including regulatory market risk and operational risk | $ 45,045,747 | $ 21,402,012 |
CET1 solvency ratio | 20.29% | 11.47% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 20.29% | 11.47% |
Tier II solvency ratio | 0.17% | 0.83% |
Total solvency ratio | 20.37% | 12.30% |
Capital measure | $ 9,137,641 | $ 2,454,700 |
Exposure measure | $ 56,066,107 | $ 32,249,192 |
Leverage ratio | 16.30% | 7.61% |
Banco Comercial AV Villas S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 22,297 | $ 22,297 |
Reserves and retained earnings | 1,658,248 | 1,524,474 |
Other comprehensive income | 57,285 | (30,491) |
Net income for the period | (117,126) | 112,035 |
Deductions: | ||
Goodwill and other intangibles | (159,586) | (124,474) |
Deferred tax assets | (10,239) | |
Other | (123,976) | (153,441) |
CET1 | 1,326,904 | 1,350,401 |
Other | 176 | 176 |
AT1 | 176 | 176 |
Tier I | 1,327,079 | 1,350,576 |
Plus/minus others | 24,471 | 25,317 |
Tier II capital | 24,471 | 25,317 |
Technical capital | 1,351,551 | 1,375,893 |
Risk-weighted assets | 10,054,415 | 10,419,661 |
Market risk | 47,003 | 96,711 |
Market risk exposure | 522,254 | 1,074,571 |
Operational Risk | 95,732 | 81,824 |
Operational risk exposure | 1,063,689 | 909,158 |
Risk-weighted assets including regulatory market risk and operational risk | $ 11,640,358 | $ 12,403,391 |
CET1 solvency ratio | 11.40% | 10.89% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 11.40% | 10.89% |
Tier II solvency ratio | 0.21% | 0.20% |
Total solvency ratio | 11.61% | 11.09% |
Capital measure | $ 1,327,079 | $ 1,350,576 |
Exposure measure | $ 18,873,410 | $ 19,487,267 |
Leverage ratio | 7.03% | 6.93% |
Corporacion Financiera Colombiana S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 3,464 | $ 3,464 |
Reserves and retained earnings | 11,233,257 | 9,929,403 |
Other comprehensive income | (76,643) | (383,161) |
Net income for the period | 808,982 | 1,774,040 |
Deductions: | ||
Goodwill and other intangibles | (99,130) | (90,578) |
Other | (1,480) | (1,350) |
CET1 | 11,868,451 | 11,231,819 |
Other | 192 | 192 |
AT1 | 192 | 192 |
Tier I | 11,868,643 | 11,232,011 |
Other deductions from technical capital | (36,876) | (44,131) |
Technical capital | 11,831,767 | 11,187,880 |
Risk-weighted assets | 19,894,398 | 18,323,118 |
Market risk | 235,605 | 185,978 |
Market risk exposure | 2,617,835 | 2,066,426 |
Operational Risk | 290,604 | 259,287 |
Operational risk exposure | 3,228,933 | 2,880,964 |
Risk-weighted assets including regulatory market risk and operational risk | $ 25,741,166 | $ 23,270,508 |
CET1 solvency ratio | 46.11% | 48.27% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 46.11% | 48.27% |
Tier II solvency ratio | 0% | 0% |
Total solvency ratio | 45.96% | 48.08% |
Capital measure | $ 11,868,643 | $ 11,232,011 |
Exposure measure | $ 27,068,698 | $ 24,099,107 |
Leverage ratio | 43.85% | 46.61% |
Corporacion Financiera Colombiana S.A. | Consolidated basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 3,464 | $ 3,464 |
Reserves and retained earnings | 10,829,636 | 9,587,611 |
Other comprehensive income | 366,032 | 47,709 |
Net income for the period | 886,012 | 1,713,807 |
Non-controlling interests | 1,380 | 1,210 |
Deductions: | ||
Goodwill and other intangibles | (78,011) | (66,553) |
Deferred tax assets | (5,191) | |
Other | (5,964) | (5,847) |
CET1 | 12,002,549 | 11,276,209 |
Other | 192 | 192 |
AT1 | 192 | 192 |
Tier I | 12,002,741 | 11,276,401 |
Other deductions from technical capital | (36,876) | (44,131) |
Technical capital | 11,965,865 | 11,232,270 |
Risk-weighted assets | 20,189,704 | 18,238,986 |
Market risk | 240,068 | 190,534 |
Market risk exposure | 2,667,427 | 2,117,047 |
Operational Risk | 298,733 | 303,453 |
Operational risk exposure | 3,319,258 | 3,371,697 |
Risk-weighted assets including regulatory market risk and operational risk | $ 26,176,390 | $ 23,727,731 |
CET1 solvency ratio | 45.85% | 47.52% |
AT1 capital solvency ratio | 0% | 0% |
Tier 1 capital solvency ratio | 45.85% | 47.52% |
Tier II solvency ratio | 0% | 0% |
Total solvency ratio | 45.71% | 47.34% |
Capital measure | $ 12,002,741 | $ 11,276,401 |
Exposure measure | $ 27,699,079 | $ 24,589,959 |
Leverage ratio | 43.33% | 45.86% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Separate basis | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Subscribed and paid-in capital | $ 109,211 | $ 109,211 |
Reserves and retained earnings | 2,265,587 | 2,312,131 |
Deductions: | ||
Other | (50,626) | (50,626) |
Tier I | 2,324,172 | 2,370,715 |
Unrealized gains/losses on securities available for sale | (8,474) | (31,628) |
Tier II capital | (8,474) | (31,628) |
Value of the stabilization reserve | (1,911,568) | (1,781,676) |
Technical capital | 404,130 | 557,412 |
Risk-weighted assets | 886,689 | 907,164 |
Market risk | 10,927 | 13,808 |
Market risk exposure | 121,408 | 153,419 |
Operational Risk | 122,398 | 127,819 |
Operational risk exposure | 1,359,975 | 1,420,213 |
Risk-weighted assets including regulatory market risk and operational risk | $ 2,368,072 | $ 2,480,795 |
Total solvency ratio | 17.07% | 22.47% |
ESTIMATION OF FAIR VALUE - Meas
ESTIMATION OF FAIR VALUE - Measurements of fair value of assets on a recurring basis (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of fair value measurement of assets [line items] | ||||
Assets | $ 301,181,596 | $ 295,591,236 | ||
Recurring fair value measurement [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 44,913,854 | 40,403,000 | ||
Recurring fair value measurement [member] | Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,830,916 | 3,507,231 | ||
Recurring fair value measurement [member] | Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,830,916 | 3,507,231 | ||
Recurring fair value measurement [member] | Debt securities [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 30,442,045 | 26,224,070 | ||
Recurring fair value measurement [member] | Debt securities [member] | Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 7,115,269 | 3,762,265 | ||
Recurring fair value measurement [member] | Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 7,113,380 | 3,760,887 | ||
Recurring fair value measurement [member] | Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 23,326,776 | 22,461,805 | ||
Recurring fair value measurement [member] | Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5,794,832 | 2,821,401 | ||
Recurring fair value measurement [member] | Securities issued or secured by Colombian Government | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 16,790,793 | 15,552,872 | ||
Recurring fair value measurement [member] | Securities issued or secured by other Colombian Government entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 155,737 | 194,150 | ||
Recurring fair value measurement [member] | Securities issued or secured by other Colombian Government entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 863,788 | 789,248 | ||
Recurring fair value measurement [member] | Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 32,079 | 57,600 | ||
Recurring fair value measurement [member] | Securities issued or secured by foreign Governments | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,507,038 | 3,396,455 | ||
Recurring fair value measurement [member] | Securities issued by central banks | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 145,489 | 194,098 | ||
Recurring fair value measurement [member] | Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,084,461 | 651,807 | ||
Recurring fair value measurement [member] | Securities issued or secured by other financial entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,142,647 | 1,622,904 | ||
Recurring fair value measurement [member] | Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 6,406 | 11,349 | ||
Recurring fair value measurement [member] | Securities issued by entities of the non-financial sector entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 214,571 | 53,807 | ||
Recurring fair value measurement [member] | Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 39,865 | 24,580 | ||
Recurring fair value measurement [member] | Other debt securities | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,889 | 1,378 | ||
Recurring fair value measurement [member] | Other debt securities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 662,450 | 852,421 | ||
Recurring fair value measurement [member] | Equity securities | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 7,377,523 | 7,515,847 | ||
Recurring fair value measurement [member] | Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 6,260,174 | 6,039,115 | ||
Recurring fair value measurement [member] | Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,117,349 | 1,476,732 | ||
Recurring fair value measurement [member] | Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,077,567 | 2,041,405 | ||
Recurring fair value measurement [member] | Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 48,662 | 20,854 | ||
Recurring fair value measurement [member] | Currency forward [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,666,852 | 1,227,660 | ||
Recurring fair value measurement [member] | Currency forward [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 687 | 4,830 | ||
Recurring fair value measurement [member] | Bond forward [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 19,258 | 4,418 | ||
Recurring fair value measurement [member] | Interest rate swap contract [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 308,368 | 524,528 | ||
Recurring fair value measurement [member] | Interest rate swap contract [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 47,975 | 16,024 | ||
Recurring fair value measurement [member] | Currency swap contract [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 20,195 | 157,747 | ||
Recurring fair value measurement [member] | Currency Options [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 62,894 | 127,052 | ||
Recurring fair value measurement [member] | Non-financial assets | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,137,141 | 1,093,593 | ||
Recurring fair value measurement [member] | Biological assets [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 230,672 | 212,630 | ||
Recurring fair value measurement [member] | Investment property [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 906,469 | 880,963 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 22,599,214 | 18,138,964 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Debt securities [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 21,597,917 | 17,263,775 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Debt securities [member] | Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5,693,319 | 2,536,952 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5,693,319 | 2,536,952 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 15,904,598 | 14,726,823 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5,692,937 | 2,536,952 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Securities issued or secured by Colombian Government | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 14,223,066 | 12,592,025 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Securities issued or secured by other Colombian Government entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 538,200 | 510,913 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 382 | |||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Securities issued or secured by foreign Governments | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,141,875 | 1,622,089 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Other debt securities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,457 | 1,796 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Equity securities | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,001,085 | 875,189 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 8,949 | 4,040 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 992,136 | 871,149 | ||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 212 | |||
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Interest rate swap contract [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 212 | |||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 14,574,468 | 15,359,549 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Debt securities [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 8,842,239 | 8,958,912 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Debt securities [member] | Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,420,061 | 1,223,935 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,420,061 | 1,223,935 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 7,422,178 | 7,734,977 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 101,895 | 284,449 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by Colombian Government | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,567,727 | 2,960,847 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by other Colombian Government entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 155,737 | 194,150 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by other Colombian Government entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 325,588 | 278,335 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 31,697 | 57,600 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by foreign Governments | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,365,163 | 1,774,366 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued by central banks | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 145,489 | 194,098 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,084,461 | 651,807 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued or secured by other financial entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,142,647 | 1,622,899 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 6,406 | 11,349 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Securities issued by entities of the non-financial sector entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 214,571 | 53,807 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 39,865 | 24,580 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Other debt securities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 660,993 | 850,625 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Equity securities | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,606,212 | 4,338,378 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,605,832 | 4,338,026 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 380 | 352 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,077,355 | 2,041,405 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 48,662 | 20,854 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Currency forward [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,666,852 | 1,227,660 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Currency forward [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 687 | 4,830 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Bond forward [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 19,258 | 4,418 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Interest rate swap contract [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 308,156 | 524,528 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Interest rate swap contract [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 47,975 | 16,024 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Currency swap contract [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 20,195 | 157,747 | ||
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Currency Options [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 62,894 | 127,052 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 7,740,172 | 6,904,487 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,830,916 | 3,507,231 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 3,830,916 | 3,507,231 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Debt securities [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,889 | 1,383 | $ 88,821 | $ 95,349 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Debt securities [member] | Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,889 | 1,378 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5 | |||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Securities issued or secured by other financial entities | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 5 | |||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Other debt securities | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,889 | 1,378 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Equity securities | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,770,226 | 2,302,280 | 1,357,164 | 1,159,963 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 2,645,393 | 1,697,049 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 124,833 | 605,231 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Non-financial assets | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 1,137,141 | 1,093,593 | ||
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Biological assets [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | 230,672 | 212,630 | 154,986 | 122,675 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Investment property [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Assets | $ 906,469 | $ 880,963 | $ 852,935 | $ 808,556 |
ESTIMATION OF FAIR VALUE - Me_2
ESTIMATION OF FAIR VALUE - Measurements of fair value of liabilities on a recurring basis (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | $ 269,661,180 | $ 264,769,577 |
Recurring fair value measurement [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,371,927 | 1,761,174 |
Recurring fair value measurement [member] | Trading derivatives [member] | Derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,154,361 | 1,757,606 |
Recurring fair value measurement [member] | Trading derivatives [member] | Currency forward [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 1,546,577 | 885,933 |
Recurring fair value measurement [member] | Trading derivatives [member] | Bond forward [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 129,345 | 5,248 |
Recurring fair value measurement [member] | Trading derivatives [member] | Index futures | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,107 | |
Recurring fair value measurement [member] | Trading derivatives [member] | Interest rate futures contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 3,752 | |
Recurring fair value measurement [member] | Trading derivatives [member] | Interest rate swap contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 329,754 | 608,288 |
Recurring fair value measurement [member] | Trading derivatives [member] | Currency swap contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 60,846 | 112,600 |
Recurring fair value measurement [member] | Trading derivatives [member] | Currency Options [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 84,087 | 143,430 |
Recurring fair value measurement [member] | Hedging instruments [member] | Derivatives [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 217,566 | 3,568 |
Recurring fair value measurement [member] | Hedging instruments [member] | Currency forward [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 204,202 | 1,553 |
Recurring fair value measurement [member] | Hedging instruments [member] | Interest rate swap contract [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 13,364 | 2,015 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 4,148 | 2,107 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Trading derivatives [member] | Derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 4,148 | 2,107 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Trading derivatives [member] | Index futures | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,107 | |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Trading derivatives [member] | Interest rate futures contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 3,752 | |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Trading derivatives [member] | Interest rate swap contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 396 | |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,367,779 | 1,759,067 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 2,150,213 | 1,755,499 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Currency forward [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 1,546,577 | 885,933 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Bond forward [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 129,345 | 5,248 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Interest rate swap contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 329,358 | 608,288 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Currency swap contract [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 60,846 | 112,600 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Trading derivatives [member] | Currency Options [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 84,087 | 143,430 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Hedging instruments [member] | Derivatives [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 217,566 | 3,568 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Hedging instruments [member] | Currency forward [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | 204,202 | 1,553 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Hedging instruments [member] | Interest rate swap contract [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Liabilities | $ 13,364 | $ 2,015 |
ESTIMATION OF FAIR VALUE - Trad
ESTIMATION OF FAIR VALUE - Trading assets in debt securities pledged as collateral (Details) - Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 2,853,286 | $ 2,000,025 |
Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,774,296 | 1,946,580 |
Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,702,953 | 1,940,594 |
Pledged in money market operations | Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,006 | |
Pledged in money market operations | Securities issued or secured by other financial entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 71,343 | 4,980 |
Pledged as collateral to special entities such as CRCC, BR and BVC | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 78,990 | 52,153 |
Pledged as collateral to special entities such as CRCC, BR and BVC | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 78,990 | 52,153 |
Pledged as collateral in operations with derivative instruments | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,292 | |
Pledged as collateral in operations with derivative instruments | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,292 | |
Level 1 of fair value hierarchy [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,781,943 | 1,856,741 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,702,953 | 1,803,296 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,702,953 | 1,803,296 |
Level 1 of fair value hierarchy [member] | Pledged as collateral to special entities such as CRCC, BR and BVC | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 78,990 | 52,153 |
Level 1 of fair value hierarchy [member] | Pledged as collateral to special entities such as CRCC, BR and BVC | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 78,990 | 52,153 |
Level 1 of fair value hierarchy [member] | Pledged as collateral in operations with derivative instruments | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,292 | |
Level 1 of fair value hierarchy [member] | Pledged as collateral in operations with derivative instruments | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,292 | |
Level 2 of fair value hierarchy [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 71,343 | 143,284 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 71,343 | 143,284 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 137,298 | |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,006 | |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by other financial entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 71,343 | $ 4,980 |
ESTIMATION OF FAIR VALUE - Inve
ESTIMATION OF FAIR VALUE - Investment in debt securities pledged as collateral (Details) - Financial assets measured at fair value through other comprehensive income, category [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 10,789,962 | $ 7,723,412 |
Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 9,710,403 | 6,567,488 |
Pledged in money market operations | Securities issued or secured by central banks | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 15,185 | 39,212 |
Pledged in money market operations | Securities issued or secured by foreign Governments | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 702,885 | 1,651,796 |
Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 8,644,027 | 4,414,866 |
Pledged in money market operations | Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 55,249 | 175,521 |
Pledged in money market operations | Securities issued or secured by other financial entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 18,479 | 89,982 |
Pledged in money market operations | Securities issued or secured by non-financial sector entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 118,865 | 32,955 |
Pledged in money market operations | Other debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 155,713 | 163,156 |
Pledged as collateral in operations with derivative instruments | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 3,650 | 10,177 |
Pledged as collateral in operations with derivative instruments | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 3,650 | 10,177 |
Pledged as collateral to special entities such as CRCC, BR and BVC | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,075,909 | 1,145,747 |
Pledged as collateral to special entities such as CRCC, BR and BVC | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,075,909 | 1,145,747 |
Level 1 of fair value hierarchy [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 10,328,854 | 6,389,380 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 9,249,295 | 5,233,456 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by foreign Governments | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 662,623 | 1,376,551 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 8,571,208 | 3,718,431 |
Level 1 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 15,464 | 138,474 |
Level 1 of fair value hierarchy [member] | Pledged as collateral in operations with derivative instruments | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 3,650 | 10,177 |
Level 1 of fair value hierarchy [member] | Pledged as collateral in operations with derivative instruments | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 3,650 | 10,177 |
Level 1 of fair value hierarchy [member] | Pledged as collateral to special entities such as CRCC, BR and BVC | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,075,909 | 1,145,747 |
Level 1 of fair value hierarchy [member] | Pledged as collateral to special entities such as CRCC, BR and BVC | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,075,909 | 1,145,747 |
Level 2 of fair value hierarchy [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 461,108 | 1,334,032 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 461,108 | 1,334,032 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by central banks | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 15,185 | 39,212 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by foreign Governments | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 40,262 | 275,245 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 72,819 | 696,435 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 39,785 | 37,047 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by other financial entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 18,479 | 89,982 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Securities issued or secured by non-financial sector entities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 118,865 | 32,955 |
Level 2 of fair value hierarchy [member] | Pledged in money market operations | Other debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 155,713 | $ 163,156 |
ESTIMATION OF FAIR VALUE - Me_3
ESTIMATION OF FAIR VALUE - Measurements at fair value on a non-recurring basis (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of fair value measurement of assets [line items] | ||
Non-current assets held for sale | $ 101,184 | $ 92,830 |
Non-recurring fair value measurement | ||
Disclosure of fair value measurement of assets [line items] | ||
Impaired collateralized loans | 1,494,862 | 1,740,705 |
Non-current assets held for sale | 101,184 | 92,830 |
Assets held for sale | 1,596,046 | 1,833,535 |
Level 3 of fair value hierarchy [member] | Non-recurring fair value measurement | ||
Disclosure of fair value measurement of assets [line items] | ||
Impaired collateralized loans | 1,494,862 | 1,740,705 |
Non-current assets held for sale | 101,184 | 92,830 |
Assets held for sale | $ 1,596,046 | $ 1,833,535 |
ESTIMATION OF FAIR VALUE - Valu
ESTIMATION OF FAIR VALUE - Valuation of equity instruments level 3 (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 COP ($) item | Dec. 31, 2022 COP ($) | |
Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 81,925 | $ 55,027 |
Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 2,567,099 | $ 1,602,297 |
Comparable multiples / Recent transaction price - EBITDA Number of times | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Decrease in variation by number of times | item | 1 | |
Level 3 of fair value hierarchy [member] | Adjusted discounted cash flow - Growth in residual values | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Decrease in variation (as a percent) | 0.50% | |
Equity investments | Level 3 of fair value hierarchy [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 3,196 | $ 8,462 |
Equity investments | Level 3 of fair value hierarchy [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | (3,093) | (8,183) |
Equity investments | Level 3 of fair value hierarchy [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | 38,209 | 17,951 |
Equity investments | Level 3 of fair value hierarchy [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (75,156) | (29,162) |
Equity investments | Level 3 of fair value hierarchy [member] | Comparable multiples / Recent transaction price - EBITDA Number of times | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation by number of times | item | 1 | |
Decrease in variation by number of times | item | 1 | |
Equity investments | Level 3 of fair value hierarchy [member] | Comparable multiples / Recent transaction price - EBITDA Number of times | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 557 | 5,039 |
Equity investments | Level 3 of fair value hierarchy [member] | Comparable multiples / Recent transaction price - EBITDA Number of times | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (556) | $ (5,043) |
Equity investments | Level 3 of fair value hierarchy [member] | Option one, income | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 1% | 1% |
Decrease in variation (as a percent) | 1% | 1% |
Equity investments | Level 3 of fair value hierarchy [member] | Option one, income | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 1,035 | $ 1,790 |
Equity investments | Level 3 of fair value hierarchy [member] | Option one, income | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (1,046) | $ (1,680) |
Equity investments | Level 3 of fair value hierarchy [member] | Adjusted discounted cash flow - Discount interest rates | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 0.50% | 0.50% |
Decrease in variation (as a percent) | 0.50% | 0.50% |
Equity investments | Level 3 of fair value hierarchy [member] | Adjusted discounted cash flow - Discount interest rates | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 1,066 | $ 1,078 |
Equity investments | Level 3 of fair value hierarchy [member] | Adjusted discounted cash flow - Discount interest rates | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (988) | $ (976) |
Equity investments | Level 3 of fair value hierarchy [member] | Market value (square meter) | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 10% | |
Equity investments | Level 3 of fair value hierarchy [member] | Market value (square meter) | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Decrease in variation (as a percent) | 10% | |
Equity investments | Level 3 of fair value hierarchy [member] | Market income | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 10% | |
Equity investments | Level 3 of fair value hierarchy [member] | Market income | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Decrease in variation (as a percent) | 10% | |
Equity investments | Level 3 of fair value hierarchy [member] | Initial capitalization rate | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 0.50% | |
Equity investments | Level 3 of fair value hierarchy [member] | Initial capitalization rate | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Decrease in variation (as a percent) | 0.50% | |
Equity investments | Level 3 of fair value hierarchy [member] | Adjusted discounted cash flow - Growth in residual values | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 0.50% | |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 0.30% | |
Decrease in variation (as a percent) | 0.30% | |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 305 | |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (267) | |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | More than 5 years [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 1% | 1% |
Decrease in variation (as a percent) | 1% | 1% |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | More than 5 years [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 281 | $ 250 |
Equity investments | Level 3 of fair value hierarchy [member] | Option one | Investments in equity instruments designated at fair value through other comprehensive income [member] | More than 5 years [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (240) | $ (217) |
Equity investments | Level 3 of fair value hierarchy [member] | Gradient | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Increase in variation (as a percent) | 0.30% | |
Decrease in variation (as a percent) | 0.30% | |
Equity investments | Level 3 of fair value hierarchy [member] | Gradient | Investments in equity instruments designated at fair value through other comprehensive income [member] | Favorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ 257 | |
Equity investments | Level 3 of fair value hierarchy [member] | Gradient | Investments in equity instruments designated at fair value through other comprehensive income [member] | Unfavorable scenario | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Sensitivity analysis of investments | $ (263) |
ESTIMATION OF FAIR VALUE - Sens
ESTIMATION OF FAIR VALUE - Sensitivity analysis (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Weighted average cost of capital, measurement input [member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
+100 bps | $ (864,845) | $ (827,154) |
-100 bps | 1,316,441 | 1,279,273 |
Growth rate | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
+100 bps | 785,847 | 746,633 |
-100 bps | $ (552,066) | $ (518,685) |
ESTIMATION OF FAIR VALUE - Tran
ESTIMATION OF FAIR VALUE - Transfers between level 1, level 2 and level 3 of the fair value hierarchy (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 COP ($) | |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | $ 57,600 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 2,826 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Securities issued or secured by Colombian Government | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 2,826 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Securities issued or secured by foreign Governments | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | 57,600 |
Financial assets measured at fair value through other comprehensive income, category [member] | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | 15,395 |
Financial assets measured at fair value through other comprehensive income, category [member] | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 2,149,975 |
Financial assets measured at fair value through other comprehensive income, category [member] | Level one to two | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 52,210 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by Colombian Government | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 1,836,591 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other Colombian Government entities | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 287,490 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by foreign Governments | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 24,098 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued by entities of the non-financial sector entities | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | 3,955 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by other financial entities | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | 6,980 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by others [member] | |
Disclosure of fair value measurement of assets [line items] | |
Transfers out of Level 3 of fair value hierarchy, assets | 4,460 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by others [member] | Level two to one | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | 1,796 |
Financial assets measured at fair value through other comprehensive income, category [member] | Securities issued or secured by others [member] | Level one to two | |
Disclosure of fair value measurement of assets [line items] | |
Debt instruments held | $ 52,210 |
ESTIMATION OF FAIR VALUE - Reco
ESTIMATION OF FAIR VALUE - Reconciliation Level 3 of the fair value hierarchy - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | $ 295,591,236 | ||
Changes in fair value recognised in profit or loss | 323,685 | $ 278,751 | $ 270,095 |
Assets at the end of the period | 301,181,596 | 295,591,236 | |
Recurring fair value measurement [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 40,403,000 | ||
Assets at the end of the period | 44,913,854 | 40,403,000 | |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 6,904,487 | ||
Assets at the end of the period | 7,740,172 | 6,904,487 | |
Financial Assets In Concession [Member] | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 3,507,231 | 3,228,480 | 2,958,385 |
Changes in fair value recognised in profit or loss | 323,685 | 278,751 | 270,095 |
Assets at the end of the period | 3,830,916 | 3,507,231 | 3,228,480 |
Debt securities [member] | Recurring fair value measurement [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 26,224,070 | ||
Assets at the end of the period | 30,442,045 | 26,224,070 | |
Debt securities [member] | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 1,383 | 88,821 | 95,349 |
Changes in fair value recognised in profit or loss | 506 | (58,845) | 4,222 |
Changes in fair value recognised in OCI | 671,348 | 85,096 | |
Additions | 227,854 | ||
Sales/redemptions | (783,552) | (95,846) | |
Loss of control in subsidiary | (71,248) | ||
Transfers from level 3 to level 2 | (72,995) | ||
Assets at the end of the period | 1,889 | 1,383 | 88,821 |
Equity securities | Recurring fair value measurement [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 7,515,847 | ||
Assets at the end of the period | 7,377,523 | 7,515,847 | |
Equity securities | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 2,302,280 | 1,357,164 | 1,159,963 |
Changes in fair value recognised in profit or loss | 204,276 | 80,408 | 173,954 |
Changes in fair value recognised in OCI | 39,566 | 16,613 | (6,431) |
Additions | 830,718 | 918,046 | 3,553 |
Sales/redemptions | (606,614) | (13,062) | (15,665) |
Discontinued operations | 1 | 3,403 | |
Loss of control in subsidiary | (56,599) | ||
Reclassification BAC | (47) | ||
Transfers from level 2 to level 3 | 73,859 | ||
Transfers from level 3 to level 2 | (291) | (35,425) | |
Assets at the end of the period | 2,770,226 | 2,302,280 | 1,357,164 |
Biological assets [member] | Recurring fair value measurement [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 212,630 | ||
Assets at the end of the period | 230,672 | 212,630 | |
Biological assets [member] | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 212,630 | 154,986 | 122,675 |
Changes in fair value recognised in profit or loss | 18,601 | 56,859 | 28,546 |
Additions | 26,118 | 28,368 | 27,213 |
Sales/redemptions | (26,677) | (27,583) | (23,448) |
Assets at the end of the period | 230,672 | 212,630 | 154,986 |
Investment property [member] | Recurring fair value measurement [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 880,963 | ||
Assets at the end of the period | 906,469 | 880,963 | |
Investment property [member] | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets at the beginning of the period | 880,963 | 852,935 | 808,556 |
Changes in fair value recognised in profit or loss | 84,958 | 55,930 | 22,775 |
Changes in fair value recognised in OCI | 557 | 797 | 7,991 |
Transfers to non-current assets held for sale | 95,593 | 31,184 | 22,847 |
Reclassification | (4,160) | (4,493) | 4,490 |
Effect of movements in exchange rates | (7,079) | 2,282 | 2,964 |
Additions | 56,307 | 70,081 | 77,157 |
Sales/redemptions | (200,670) | (127,753) | (93,845) |
Assets at the end of the period | $ 906,469 | $ 880,963 | $ 852,935 |
ESTIMATION OF FAIR VALUE - Re_2
ESTIMATION OF FAIR VALUE - Reconciliation Level 3 of the fair value hierarchy - Additional information (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Mar. 17, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Banco de Bogota S.A. | BAC Holding International Corp | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Percentage of shares sold | 4.11% | |||
Banco de Bogota S.A. | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Additions | $ 466,210 | |||
Sales/redemptions | 39,348 | |||
Banco de Occidente S.A. | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Additions | 60,947 | |||
Sales/redemptions | 37,970 | |||
Banco Popular S.A. | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Additions | 249,732 | |||
Sales/redemptions | 6,602 | |||
Banco AV Villas S A | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Additions | 53,829 | |||
Sales/redemptions | 2,730 | |||
BAC Holding International Corp | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Sales/redemptions | 519,964 | |||
Equity securities | Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Additions | 830,718 | $ 918,046 | $ 3,553 | |
Sales/redemptions | $ 606,614 | $ 13,062 | $ 15,665 |
ESTIMATION OF FAIR VALUE - Fair
ESTIMATION OF FAIR VALUE - Fair value of financial assets recognized at amortized cost (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Financial assets at amortised cost, category [member] | Loan portfolio and investments in debt securities at amortised cost [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,147,734 | 188,850,409 | ||
Financial assets at fair value | 200,356,532 | 189,864,007 | ||
Financial assets at amortised cost, category [member] | Investment securities at amortised cost [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,979,679 | 9,734,562 | ||
Financial assets at fair value | 9,981,183 | 9,744,533 | ||
Financial assets at amortised cost, category [member] | Loan portfolio [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Financial assets at fair value | 190,375,349 | 180,119,474 | ||
Financial assets at amortised cost, category [member] | Loan portfolio [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Debt securities [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 40,438,606 | $ 35,995,562 |
ESTIMATION OF FAIR VALUE - Fa_2
ESTIMATION OF FAIR VALUE - Fair value of financial liabilities recognized at amortized cost (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Customer deposits [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Financial obligations [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Financial liabilities at fair value | 247,779,466 | 242,359,214 |
Financial liabilities at amortised cost, category [member] | Customer deposits [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Financial liabilities at fair value | 183,570,708 | 173,929,783 |
Financial liabilities at amortised cost, category [member] | Financial obligations [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial liabilities at fair value | $ 64,208,758 | $ 68,429,431 |
ESTIMATION OF FAIR VALUE - Text
ESTIMATION OF FAIR VALUE - Textual (Details) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 COP ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2023 | Dec. 31, 2023 $ / T | Dec. 31, 2023 $ / T | |
Disclosure of fair value measurement of assets [line items] | |||||
Price of natural rubber | 0.44 | 1,690 | |||
Price of African palm per ton | 0.31 | 1,165.9 | |||
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Sensitivity analysis of investments | $ 81,925 | $ 55,027 | |||
Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Sensitivity analysis of investments | 2,567,099 | $ 1,602,297 | |||
Weighted average cost of capital, measurement input [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Significant unobservable input, assets | 0.0890 | 0.0866 | |||
Service concession arrangements [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Financial assets at fair value through profit or loss | $ 3,830,916 | $ 3,507,231 | |||
Bottom of range [member] | Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Growth rate used to extrapolate cash flow projections | 1% | 1% | |||
Top of range [member] | Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |||||
Disclosure of fair value measurement of assets [line items] | |||||
Growth rate used to extrapolate cash flow projections | 3% | 3% |
CLASSIFICATION OF FINANCIAL A_3
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES - Financial assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 19,332,588 | 15,370,870 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,117,349 | 1,476,732 | ||
Investment securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 34,425,693 | 33,674,477 | ||
Investment securities [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 34,442,575 | 33,711,407 | ||
Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,996,561 | 9,771,492 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 25,617,225 | 23,380,573 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 26,002,889 | 23,762,989 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,830,916 | 3,507,231 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 22,171,973 | 20,255,758 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 22,171,973 | 20,255,758 | ||
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 22,171,973 | 20,255,758 | ||
Trading securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,451,121 | 11,841,407 | ||
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,451,121 | 11,841,407 | ||
Investment securities at fair value [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 24,446,014 | 23,939,915 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,830,916 | 3,507,231 | ||
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 3,830,916 | 3,507,231 | ||
IFRS Cash and Cash Equivalents [Member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,597,861 | 17,032,857 | ||
IFRS Cash and Cash Equivalents [Member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,597,861 | 17,032,857 | ||
Debt securities [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 40,438,606 | 35,995,562 | ||
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,996,561 | 9,771,492 | ||
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Trading securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 7,113,380 | 3,760,887 | ||
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 7,113,380 | 3,760,887 | ||
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 7,113,380 | 3,760,887 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Equity financial instruments | Trading securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6,260,174 | 6,039,115 | ||
Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 6,260,174 | 6,039,115 | ||
Equity investments | Investment securities [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,117,349 | 1,476,732 | ||
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,117,349 | 1,476,732 | ||
Derivatives [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,126,229 | 2,062,259 | ||
Derivatives [member] | Trading securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,077,567 | 2,041,405 | ||
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,077,567 | 2,041,405 | ||
Derivatives [member] | Hedging instruments [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 48,662 | 20,854 | ||
Derivatives [member] | Hedging instruments [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 48,662 | $ 20,854 |
CLASSIFICATION OF FINANCIAL A_4
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES - Financial liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 247,528,735 | 245,457,924 |
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Customer deposits [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Customer deposits [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 181,987,396 | 173,341,149 |
Financial obligations [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Financial obligations [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 65,541,339 | 72,116,775 |
Derivatives [member] | Trading derivatives [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Hedging instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 217,566 | 3,568 |
Derivatives [member] | Hedging instruments [member] | Financial liabilities at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 217,566 | $ 3,568 |
CASH AND CASH EQUIVALENTS - Tab
CASH AND CASH EQUIVALENTS - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of cash and cash equivalents [line items] | ||||
Total cash and cash equivalents | $ 18,597,861 | $ 17,032,857 | $ 36,642,829 | $ 34,025,535 |
Colombia, Pesos | ||||
Disclosure of cash and cash equivalents [line items] | ||||
Cash | 3,723,337 | 3,663,165 | ||
Deposits in the Colombian central bank | 6,795,015 | 4,541,687 | ||
Demand deposits in banks and other financial entities | 549,084 | 1,712,116 | ||
Clearing houses | 488 | 2,109 | ||
Cash held for specific purposes | 1,220,609 | 1,136,975 | ||
Liquidity management | 1,312,622 | 4,013 | ||
Total cash and cash equivalents | 13,601,155 | 11,060,065 | ||
Foreign currency | ||||
Disclosure of cash and cash equivalents [line items] | ||||
Cash | 85,775 | 103,696 | ||
Demand deposits in banks and other financial entities | 4,600,966 | 5,245,531 | ||
Liquidity management | 309,965 | 623,565 | ||
Total cash and cash equivalents | $ 4,996,706 | $ 5,972,792 |
CASH AND CASH EQUIVALENTS - Tex
CASH AND CASH EQUIVALENTS - Textual (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of cash and cash equivalents [line items] | ||
Cash reserves | $ 8,964,594 | $ 8,694,583 |
Covipacifico [member] | Colombia, Pesos | ||
Disclosure of cash and cash equivalents [line items] | ||
Cash flows from (used in) decrease (increase) in restricted cash and cash equivalents | 90,940 | |
Covioriente [member] | Colombia, Pesos | ||
Disclosure of cash and cash equivalents [line items] | ||
Cash flows from (used in) decrease (increase) in restricted cash and cash equivalents | (171,541) | |
Episol [member] | Colombia, Pesos | ||
Disclosure of cash and cash equivalents [line items] | ||
Cash flows from (used in) decrease (increase) in restricted cash and cash equivalents | (67,261) | |
Covimar [member] | Colombia, Pesos | ||
Disclosure of cash and cash equivalents [line items] | ||
Cash flows from (used in) decrease (increase) in restricted cash and cash equivalents | $ 231,496 |
TRADING ASSETS AND LIABILITIE_2
TRADING ASSETS AND LIABILITIES - Trading assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Equity financial instruments | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,260,174 | 6,039,115 |
Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,260,174 | 6,039,115 |
Derivatives [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,126,229 | 2,062,259 |
Derivatives [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,077,567 | 2,041,405 |
Derivatives [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,077,567 | $ 2,041,405 |
TRADING ASSETS AND LIABILITIE_3
TRADING ASSETS AND LIABILITIES - Trading liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 249,900,662 | $ 247,219,098 |
Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,371,927 | 1,761,174 |
Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,154,361 | 1,757,606 |
Derivatives [member] | Trading derivatives [member] | Financial liabilities at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,154,361 | $ 1,757,606 |
TRADING ASSETS AND LIABILITIE_4
TRADING ASSETS AND LIABILITIES - Total trading assets and liabilities, net (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Trading assets and liabilities [abstract] | ||
Total trading assets and liabilities net | $ 13,296,760 | $ 10,083,801 |
TRADING ASSETS AND LIABILITIE_5
TRADING ASSETS AND LIABILITIES - Investments in debt securities at fair value (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Debt securities [member] | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Debt securities [member] | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,113,380 | 3,760,887 |
Securities issued or secured by Colombian Government | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,794,832 | 2,821,401 |
Securities issued or secured by other Colombian Government entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 155,737 | 194,150 |
Securities issued or secured by foreign Governments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,079 | 57,600 |
Securities issued or secured by other financial entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,084,461 | 651,807 |
Securities issued by entities of the non-financial sector entities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,406 | 11,349 |
Other debt securities | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 39,865 | $ 24,580 |
TRADING ASSETS AND LIABILITIE_6
TRADING ASSETS AND LIABILITIES - Investments in equity securities at fair value (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 15,451,121 | 11,841,407 |
Private real estate equity fund Nexus | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss classified as held equity securities | $ 2,567,099 | 1,602,297 |
Pension and severance funds | ||
Disclosure of financial assets [line items] | ||
Percentage of total assets of funds to be invested in mandatory severance and pension funds | 1% | |
Equity financial instruments | Trading securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 6,260,174 | 6,039,115 |
Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,260,174 | 6,039,115 |
Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,172,974 | 5,932,409 |
Equity financial instruments | Trading securities [member] | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 87,200 | 106,706 |
Equity financial instruments | Corporate stock | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,949 | 4,040 |
Equity financial instruments | Corporate stock | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,100 | 5,490 |
Equity financial instruments | Investment funds | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,079,070 | 3,855,604 |
Equity financial instruments | Investment funds | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Foreign currency [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 83,100 | 101,216 |
Equity financial instruments | Pension and severance funds | Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,084,955 | $ 2,072,765 |
TRADING ASSETS AND LIABILITIE_7
TRADING ASSETS AND LIABILITIES - Trading derivative assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Derivative assets | $ 2,077,567 | $ 2,041,405 |
Forward contracts | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 1,686,110 | 1,232,078 |
Forward contracts, Foreign currency to buy | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 2,805 | 928,797 |
Forward contracts, Foreign currency to sell | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 1,664,047 | 298,863 |
Forward contracts, Debt securities to buy | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 18,895 | 104 |
Forward contracts, Debt securities to sell | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 363 | 4,314 |
Swap | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 328,563 | 682,275 |
Currency swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 20,195 | 157,747 |
Interest rate swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 308,368 | 524,528 |
Options Contracts | ||
Disclosure of financial assets [line items] | ||
Derivative assets | 62,894 | 127,052 |
Options Contracts, Foreign currency to buy | ||
Disclosure of financial assets [line items] | ||
Derivative assets | $ 62,894 | 108,334 |
Options Contracts, Foreign currency to sell | ||
Disclosure of financial assets [line items] | ||
Derivative assets | $ 18,718 |
TRADING ASSETS AND LIABILITIE_8
TRADING ASSETS AND LIABILITIES - Trading derivative liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | $ 2,154,361 | $ 1,757,606 |
Forward contracts | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 1,675,923 | 891,181 |
Forward contracts, Foreign currency to buy | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 1,543,886 | 261,614 |
Forward contracts, Foreign currency to sell | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 2,691 | 624,319 |
Forward contracts, Debt securities to buy | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 589 | 996 |
Forward contracts, Debt securities to sell | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 128,757 | 4,252 |
Swap | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 390,599 | 720,888 |
Currency swap contract [member] | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 60,845 | 112,600 |
Interest rate swap contract [member] | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 329,754 | 608,288 |
Futures Contracts | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 3,752 | 2,107 |
Futures Contract, Interest rate to sell | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 3,752 | 2,107 |
Options Contracts | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 84,087 | 143,430 |
Options Contracts, Foreign currency to buy | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | 127,692 | |
Options Contracts, Foreign currency to sell | ||
Disclosure of financial liabilities [line items] | ||
Derivative liabilities | $ 84,087 | $ 15,738 |
INVESTMENT SECURITIES - Balance
INVESTMENT SECURITIES - Balances of investment securities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,521,501) | (9,694,456) | ||
Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 19,332,588 | 15,370,870 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,438,261) | (9,616,860) | ||
Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,117,349 | 1,476,732 | ||
Investment securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 34,425,693 | 33,674,477 | ||
Investment securities [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 34,442,575 | 33,711,407 | ||
Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,996,561 | 9,771,492 | ||
Investment securities at fair value [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 24,446,014 | 23,939,915 | ||
Debt securities [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 40,438,606 | 35,995,562 | ||
Debt securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (16,882) | (36,930) | $ (10,698) | $ (7,195) |
Debt securities [member] | Investment securities [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 9,996,561 | 9,771,492 | ||
Debt securities [member] | Investment securities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (16,882) | (36,930) | ||
Debt securities [member] | Investment securities [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,889 | 1,378 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 23,326,776 | 22,461,805 | ||
Debt securities [member] | Investment securities at fair value [member] | Financial assets measured at fair value through other comprehensive income, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (12,972) | (12,686) | $ (123,978) | $ (96,486) |
Equity investments | Investment securities [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,117,349 | 1,476,732 | ||
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 1,117,349 | $ 1,476,732 |
INVESTMENT SECURITIES - Investm
INVESTMENT SECURITIES - Investments in debt securities mandatorily at FVTPL (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Investment securities at fair value [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,446,014 | 23,939,915 |
Debt securities [member] | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,889 | 1,378 |
Other debt securities | Investment securities at fair value [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,889 | $ 1,378 |
INVESTMENT SECURITIES - Inves_2
INVESTMENT SECURITIES - Investments in debt securities at fair value through OCI (Details) - Financial assets measured at fair value through other comprehensive income, category [member] - Investment securities at fair value [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Cost | $ 24,517,308 | $ 25,447,717 |
Unrealized Gain | 178,985 | 49,657 |
Unrealized Losses | (1,369,517) | (3,035,569) |
Fair Value | 23,326,776 | 22,461,805 |
ECL | 12,972 | 12,686 |
Securities issued or secured by Colombian Government | ||
Disclosure of financial assets [line items] | ||
Cost | 17,626,642 | 17,891,099 |
Unrealized Gain | 146,608 | 15,293 |
Unrealized Losses | (982,457) | (2,353,520) |
Fair Value | 16,790,793 | 15,552,872 |
ECL | 7,204 | 6,845 |
Securities issued or secured by other Colombian Government entities | ||
Disclosure of financial assets [line items] | ||
Cost | 898,373 | 885,106 |
Unrealized Gain | 6,213 | 28 |
Unrealized Losses | (40,798) | (95,886) |
Fair Value | 863,788 | 789,248 |
ECL | 1,183 | 1,059 |
Securities issued or secured by foreign Governments | ||
Disclosure of financial assets [line items] | ||
Cost | 2,717,651 | 3,734,594 |
Unrealized Gain | 6,385 | 17,215 |
Unrealized Losses | (216,998) | (355,354) |
Fair Value | 2,507,038 | 3,396,455 |
ECL | 611 | 1,210 |
Securities issued or secured by central banks | ||
Disclosure of financial assets [line items] | ||
Cost | 194,480 | 242,047 |
Unrealized Losses | (48,991) | (47,949) |
Fair Value | 145,489 | 194,098 |
ECL | 56 | 27 |
Securities issued or secured by other financial entities | ||
Disclosure of financial assets [line items] | ||
Cost | 2,159,892 | 1,718,512 |
Unrealized Gain | 19,370 | 304 |
Unrealized Losses | (36,615) | (95,912) |
Fair Value | 2,142,647 | 1,622,904 |
ECL | 2,398 | 2,316 |
Securities issued or secured by non-financial sector entities | ||
Disclosure of financial assets [line items] | ||
Cost | 215,877 | 57,252 |
Unrealized Gain | 156 | |
Unrealized Losses | (1,462) | (3,445) |
Fair Value | 214,571 | 53,807 |
ECL | 822 | 257 |
Other debt securities | ||
Disclosure of financial assets [line items] | ||
Cost | 704,393 | 919,107 |
Unrealized Gain | 253 | 16,817 |
Unrealized Losses | (42,196) | (83,503) |
Fair Value | 662,450 | 852,421 |
ECL | $ 698 | $ 972 |
INVESTMENT SECURITIES - Amounts
INVESTMENT SECURITIES - Amounts reclassified to profit or loss from OCI before taxes (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of investment securities [abstract] | ||
Redemptions or sales | $ (104,012) | $ (135,465) |
ECL allowance | 1,236 | 3,678 |
Total reclassified to profit or loss | $ (102,775) | $ (131,787) |
INVESTMENT SECURITIES - Inves_3
INVESTMENT SECURITIES - Investments in debt securities at amortized cost (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Investment securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,425,693 | 33,674,477 |
Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,442,575 | 33,711,407 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,438,606 | 35,995,562 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,996,561 | 9,771,492 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Not later than one month [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 927,454 | 768,921 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Later than one month and not later than three months [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,515 | 80,379 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Later than three months and not later than one year [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,765,886 | 6,032,434 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Later than one year and not later than five years [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 151,217 | 187,795 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Later than five years and not later than ten years [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,098,299 | 2,668,331 |
Debt securities [member] | Financial assets at amortised cost, category [member] | Investment securities [member] | Later than ten years [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 27,190 | 33,632 |
Securities issued or secured by Colombian Government | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,567,463 | 2,299,618 |
Securities issued or secured by other Colombian Government entities | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,112,355 | 4,509,839 |
Securities issued or secured by foreign Governments | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,515 | 33,453 |
Securities issued or secured by other financial entities | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,082,993 | 2,618,656 |
Other debt securities | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 63,825 | 72,389 |
Securities issued or secured by non-financial sector entities | Financial assets at amortised cost, category [member] | Investment securities [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 143,410 | $ 237,537 |
INVESTMENT SECURITIES - Inves_4
INVESTMENT SECURITIES - Investment in debt at amortized cost pledged as collateral (Details) - Financial assets at amortised cost, category [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 3,208,890 | $ 1,379,758 |
Debt securities [member] | Pledged in money market operations | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,275,917 | 380,197 |
Debt securities [member] | Pledged as collateral to special entities such as CRCC, BR and BVC | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 932,973 | 999,561 |
Securities issued or secured by Colombian Government | Pledged in money market operations | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 489,631 | |
Securities issued or secured by Colombian Government | Pledged as collateral to special entities such as CRCC, BR and BVC | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 539,339 | |
Securities issued or secured by other Colombian Government entities | Pledged in money market operations | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,667,922 | 118,536 |
Securities issued or secured by other Colombian Government entities | Pledged as collateral to special entities such as CRCC, BR and BVC | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 393,634 | 999,561 |
Securities issued or secured by other financial entities | Pledged in money market operations | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 25,449 | |
Securities issued or secured by non-financial sector entities | Pledged in money market operations | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 118,364 | $ 236,212 |
INVESTMENT SECURITIES - Inves_5
INVESTMENT SECURITIES - Investments in equity securities at fair value through OCI (Details) - Investments in equity instruments designated at fair value through other comprehensive income [member] - Equity investments - Investment securities at fair value [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Cost | $ 594,579 | $ 1,110,345 |
Unrealized Gain | 561,579 | 386,571 |
Unrealized Losses | (38,809) | (20,184) |
Fair Value | 1,117,349 | 1,476,732 |
Colombia, Pesos | ||
Disclosure of financial assets [line items] | ||
Cost | 585,352 | 1,109,648 |
Unrealized Gain | 121,017 | 385,712 |
Unrealized Losses | (33,137) | (20,159) |
Fair Value | 673,232 | 1,475,201 |
Foreign currency [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 9,227 | 697 |
Unrealized Gain | 440,562 | 859 |
Unrealized Losses | (5,672) | (25) |
Fair Value | $ 444,117 | $ 1,531 |
INVESTMENT SECURITIES - Equity
INVESTMENT SECURITIES - Equity instruments through OCI - Tabular disclosure (Details) - COP ($) $ in Millions | Mar. 17, 2023 | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | |||
Financial assets | $ 280,746,878 | $ 274,682,875 | |
BAC Holding International Corp | Banco de Bogota S.A. | |||
Disclosure of financial assets [line items] | |||
Percentage of shares sold | 4.11% | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,117,349 | 1,476,732 | |
Investment securities at fair value [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 24,446,014 | 23,939,915 | |
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,117,349 | 1,476,732 | |
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Empresa de Energia de Bogota S.A. E.S.P. | |||
Disclosure of financial assets [line items] | |||
Financial assets | 903,068 | 799,928 | |
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | BAC Holding International Corp | |||
Disclosure of financial assets [line items] | |||
Financial assets | 519,964 | ||
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Mineros S.A. | |||
Disclosure of financial assets [line items] | |||
Financial assets | 43,765 | 44,123 | |
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Port operating companies | |||
Disclosure of financial assets [line items] | |||
Financial assets | 58,355 | 36,010 | |
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Bolsa de Valores de Colombia S.A. | |||
Disclosure of financial assets [line items] | |||
Financial assets | 26,920 | ||
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Holding Burstil Regional S.A. | |||
Disclosure of financial assets [line items] | |||
Financial assets | 45,085 | ||
Equity investments | Investment securities at fair value [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | Others [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 67,076 | $ 49,787 |
INVESTMENT SECURITIES - Equit_2
INVESTMENT SECURITIES - Equity instruments through OCI - Dividend income (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of investment securities [abstract] | |||
Dividend income | $ 126,274 | $ 119,888 | $ 153,969 |
HEDGE ACCOUNTING - Changes in t
HEDGE ACCOUNTING - Changes in the fluctuation (Details) | 12 Months Ended | ||||
Dec. 31, 2023 $ / $ | Dec. 31, 2023 $ / $ COP ($) | Dec. 31, 2022 $ / $ | Dec. 31, 2022 $ / $ COP ($) | Dec. 31, 2021 $ / $ | |
Disclosure of detailed information about hedges [abstract] | |||||
Value of US 1 | 3,822.05 | 3,822.05 | 4,810.20 | 4,810.20 | 3,981.16 |
Variation | (988.15) | 988.15 | 829.04 | 988.15 | 548.66 |
HEDGE ACCOUNTING - Movements of
HEDGE ACCOUNTING - Movements of other comprehensive income related to hedges of net investment in foreign operations (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | $ (797,514) | $ (6,675,329) | $ 2,565,637 |
Hedging financial liabilities in foreign currency | 760,997 | 2,549,821 | (1,198,919) |
Hedging derivatives in foreign currency | 4,051,499 | $ (403,983) | |
Net OCI account | (36,517) | (74,009) | |
Multi Financial Holding | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (393,836) | ||
Hedging financial liabilities in foreign currency | 385,379 | ||
Net OCI account | (8,457) | ||
BAC Holding International Corp and Multi Financial Holding [member] | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (6,991,093) | ||
Hedging financial liabilities in foreign currency | 2,756,328 | ||
Hedging derivatives in foreign currency | 4,048,523 | ||
Net OCI account | (186,242) | ||
Other subsidiaries and branches Banco de Bogota | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (137,731) | 105,255 | |
Hedging financial liabilities in foreign currency | 118,577 | (3,470) | |
Hedging derivatives in foreign currency | 2,976 | ||
Net OCI account | (19,154) | 104,761 | |
Occidental Bank Barbados Ltd. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (30,956) | 23,104 | |
Hedging financial liabilities in foreign currency | 30,956 | (23,104) | |
Banco de Occidente Panama. S.A. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (42,091) | 26,838 | |
Hedging financial liabilities in foreign currency | 42,091 | (26,838) | |
Sociedad Portuaria El Cayao S.A. E.S.P. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (25,513) | 21,903 | |
Hedging financial liabilities in foreign currency | 25,513 | (21,903) | |
Gases del Pacifico S.A.C. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (32,050) | 26,391 | |
Hedging financial liabilities in foreign currency | 23,144 | (18,919) | |
Net OCI account | (8,906) | 7,472 | |
Gas Natural de Lima y Callao S.A.C. - Calidda | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (106,851) | 90,633 | |
Hedging financial liabilities in foreign currency | 106,851 | (90,633) | |
Promigas Per S.A.C. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (4,763) | 3,996 | |
Hedging financial liabilities in foreign currency | 4,763 | (3,996) | |
Gases del Norte del Peru S.A.C. | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (23,718) | 17,639 | |
Hedging financial liabilities in foreign currency | 23,718 | (17,639) | |
Promigas Panam Corporation | |||
Hedges of net investment in foreign operations [abstract] | |||
Hedged Items | (5) | 5 | |
Hedging financial liabilities in foreign currency | $ 5 | $ (5) |
HEDGE ACCOUNTING - Hedging oper
HEDGE ACCOUNTING - Hedging operations (Details) $ in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 COP ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2021 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Hedges of net investment in foreign operations [abstract] | |||||
Net OCI account | $ (36,517) | $ (74,009) | |||
Foreign currency translation differences from unhedged foreign operations | (409,671) | 1,356,213 | $ (180,798) | ||
Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | $ 856,934 | $ 1,621,713 | |||
Amount of hedge by financial liabilities in foreign currency | (808,185) | (1,605,418) | |||
Hedge amount in forward contracts | (281) | ||||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 407,149 | 1,204,663 | |||
Current amount hedging non-derivative instrument | (51,791) | (812,788) | |||
Current amount hedging derivative instrument | (230,847) | (230,847) | |||
Net OCI account | 124,511 | 161,028 | |||
Multi Financial Holding | |||||
Hedges of net investment in foreign operations [abstract] | |||||
Net OCI account | (8,457) | ||||
Multi Financial Holding | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 405,867 | 394,372 | |||
Amount of hedge by financial liabilities in foreign currency | (390,000) | (390,000) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 6,974 | 400,810 | |||
Current amount hedging non-derivative instrument | 46,021 | (339,358) | |||
Current amount hedging derivative instrument | (435) | (435) | |||
Net OCI account | 52,560 | 61,017 | |||
Other subsidiaries and branches Banco de Bogota | |||||
Hedges of net investment in foreign operations [abstract] | |||||
Net OCI account | (19,154) | 104,761 | |||
Other subsidiaries and branches Banco de Bogota | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 152,882 | 131,923 | |||
Amount of hedge by financial liabilities in foreign currency | (120,000) | (120,000) | |||
Hedge amount in forward contracts | (281) | ||||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 202,519 | 340,250 | |||
Current amount hedging non-derivative instrument | 115,107 | (3,470) | |||
Current amount hedging derivative instrument | (230,412) | (230,412) | |||
Net OCI account | 87,214 | 106,368 | |||
Occidental Bank Barbados Ltd. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 37,341 | 28,755 | |||
Amount of hedge by financial liabilities in foreign currency | (37,341) | (28,755) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 43,626 | 74,582 | |||
Current amount hedging non-derivative instrument | (43,626) | (74,582) | |||
Banco de Occidente Panama. S.A. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 58,877 | 35,151 | |||
Amount of hedge by financial liabilities in foreign currency | (58,877) | (35,151) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 57,337 | 99,428 | |||
Current amount hedging non-derivative instrument | (57,337) | (99,428) | |||
Sociedad Portuaria El Cayao S.A. E.S.P. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 26,365 | 562,151 | |||
Amount of hedge by financial liabilities in foreign currency | (26,365) | (562,151) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 26,410 | 51,923 | |||
Current amount hedging non-derivative instrument | (26,410) | (51,923) | |||
Gases del Pacifico S.A.C. | |||||
Hedges of net investment in foreign operations [abstract] | |||||
Net OCI account | (8,906) | 7,472 | |||
Gases del Pacifico S.A.C. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 31,888 | 216,876 | |||
Amount of hedge by financial liabilities in foreign currency | (31,888) | (216,876) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 6,068 | 38,118 | |||
Current amount hedging non-derivative instrument | (21,331) | (44,475) | |||
Net OCI account | (15,263) | (6,357) | |||
Gas Natural de Lima y Callao S.A.C. - Calidda | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 114,887 | 97,109 | |||
Amount of hedge by financial liabilities in foreign currency | (114,887) | (97,109) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 67,050 | 173,901 | |||
Current amount hedging non-derivative instrument | (67,050) | (173,901) | |||
Promigas Per S.A.C. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 4,820 | 25,978 | |||
Amount of hedge by financial liabilities in foreign currency | (4,820) | (25,978) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 741 | 5,504 | |||
Current amount hedging non-derivative instrument | (741) | (5,504) | |||
Gases del Norte del Peru S.A.C. | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 24,006 | 129,382 | |||
Amount of hedge by financial liabilities in foreign currency | (24,006) | (129,382) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | (3,578) | 20,140 | |||
Current amount hedging non-derivative instrument | 3,578 | (20,140) | |||
Promigas Panam Corporation | Hedges of net investment in foreign operations | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Investment amount | 1 | 16 | |||
Amount of hedge by financial liabilities in foreign currency | $ (1) | $ (16) | |||
Hedges of net investment in foreign operations [abstract] | |||||
Current amount hedged item | 2 | 7 | |||
Current amount hedging non-derivative instrument | $ (2) | $ (7) |
HEDGE ACCOUNTING - Accumulated
HEDGE ACCOUNTING - Accumulated OCI (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about hedging instruments [line items] | |||
Balance at the beginning of the year | $ (1,146,565) | ||
Changes in the fair value bonds | 145,737 | $ (475,612) | $ (129,773) |
Changes in the fair value other accounts receivable | (258,982) | ||
Balance at the end of the year | (544,219) | (1,146,565) | |
Cash flow hedges | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Balance at the beginning of the year | 5,542 | 7,938 | (42) |
Changes in the fair value FwD - Future transactions | (26,203) | 6,995 | (8,879) |
Changes in the fair value FwD - financial obligations | (32,672) | ||
Changes in the fair value bonds | 270,064 | ||
Changes in the fair value other accounts receivable | (258,982) | ||
Changes in the fair value of the hedge forward contracts | (26,203) | 6,995 | (8,879) |
Reclassified to profit or loss | 11,870 | (9,391) | 16,859 |
Balance at the end of the year | $ (30,381) | $ 5,542 | $ 7,938 |
HEDGE ACCOUNTING - Cash flow he
HEDGE ACCOUNTING - Cash flow hedges (Details) $ in Thousands, $ in Millions | Dec. 31, 2023 USD ($) contract | Dec. 31, 2023 COP ($) contract | Dec. 31, 2022 USD ($) contract | Dec. 31, 2022 COP ($) contract |
Disclosure of detailed information about hedging instruments [line items] | ||||
Hedging derivatives, liabilities | $ (217,566) | $ (3,568) | ||
Hedging derivatives | $ 48,662 | $ 20,854 | ||
Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Income in Thousands of U.S. dollar forecasted | $ 643,670 | $ 127,695 | ||
Notional amount contracts forward U.S. dollars | 420,670 | 126,921 | ||
% hedged | 86% | 86% | 88% | 88% |
Hedging derivatives, liabilities | $ (59,715) | |||
Hedging derivatives | $ 61,142 | |||
# of contracts | contract | 46 | 46 | 161 | 161 |
HEDGE ACCOUNTING - Interest rat
HEDGE ACCOUNTING - Interest rate swaps and cross currency swaps (Details) $ in Thousands, $ in Millions | Dec. 31, 2023 USD ($) contract | Dec. 31, 2023 COP ($) contract | Dec. 31, 2022 COP ($) |
Disclosure of detailed information about hedging instruments [line items] | |||
Hedging derivatives | $ 48,662 | $ 20,854 | |
Other Accounts Receivable [Member] | Banco de Bogota S.A. | Hedges of net investment in foreign operations | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Income in Thousands of U.S. dollar forecasted | $ 309,788 | ||
Notional amount contracts forward U.S. dollars | 309,788 | ||
% hedged | 100% | 100% | |
Hedging derivatives | $ 1,184,025 | ||
# of contracts | contract | 1 | 1 | |
Other Accounts Receivable [Member] | Corficolombiana | Hedges of net investment in foreign operations | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Income in Thousands of U.S. dollar forecasted | $ 7,610 | ||
Notional amount contracts forward U.S. dollars | 7,610 | ||
% hedged | 100% | 100% | |
# of contracts | contract | 17 | 17 | |
Financial obligations [member] | Banco de Bogota S.A. | Hedges of net investment in foreign operations | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Income in Thousands of U.S. dollar forecasted | $ 1,097,038 | ||
Notional amount contracts forward U.S. dollars | 1,098,950 | ||
% hedged | 100% | 100% | |
Hedging derivatives | $ 4,152,626 | ||
# of contracts | contract | 74 | 74 |
HEDGE ACCOUNTING - Fair value h
HEDGE ACCOUNTING - Fair value hedges (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 COP ($) | Dec. 31, 2022 COP ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Assets | $ 48,662 | $ 20,854 |
Liabilities | 217,566 | 3,568 |
Change in fair value | 79,980 | 154 |
Banco de Bogota S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | 79,864 | (14) |
Banco de Occidente S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | $ 116 | |
Multi Financial Holding | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | $ 168 | |
Securities issued or secured by Government and Corporate issuers [member] | Multi Financial Holding | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 98,609 | |
Assets | $ 969 | |
Time deposits [member] | Banco de Bogota S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 6,539,684 | 235,000 |
Liabilities | $ 40,289 | $ 1,242 |
Time deposits [member] | Banco de Occidente S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 435,000 | |
Liabilities | $ 734 | |
Interest rate swap contract [member] | Banco de Bogota S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 6,539,684 | 235,000 |
Assets | $ 47,975 | $ 1,228 |
Liabilities | $ 10,871 | |
Interest rate swap contract [member] | Banco de Occidente S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 435,000 | |
Assets | $ 850 | |
Interest rate swap contract [member] | Multi Financial Holding | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 98,609 | |
Assets | $ 107 | |
Liabilities | $ 786 |
HEDGE ACCOUNTING - Fair value a
HEDGE ACCOUNTING - Fair value and interest expense (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | $ 79,980 | $ 154 |
Interest of the derivative designated as the hedging instrument | (63,333) | (1,242) |
Banco de Bogota S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | 79,864 | (14) |
Interest of the derivative designated as the hedging instrument | (61,905) | (1,242) |
Banco de Occidente S.A. | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | 116 | |
Interest of the derivative designated as the hedging instrument | $ (1,428) | |
Multi Financial Holding | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Change in fair value | $ 168 |
HEDGE ACCOUNTING - Financial in
HEDGE ACCOUNTING - Financial instruments for hedging - assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Assets | $ 48,662 | $ 20,854 |
Forward contracts | ||
Disclosure of financial assets [line items] | ||
Assets | 687 | 4,830 |
Forward contracts, Foreign currency to buy | ||
Disclosure of financial assets [line items] | ||
Assets | 687 | 4,630 |
Forward contracts, Foreign currency to sell | ||
Disclosure of financial assets [line items] | ||
Assets | 200 | |
Swap | ||
Disclosure of financial assets [line items] | ||
Assets | 47,975 | 16,024 |
Interest rate swap | ||
Disclosure of financial assets [line items] | ||
Assets | $ 47,975 | $ 16,024 |
HEDGE ACCOUNTING - Financial _2
HEDGE ACCOUNTING - Financial instruments for hedging - liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial liabilities [line items] | ||
Liabilities | $ 217,566 | $ 3,568 |
Forward contracts | ||
Disclosure of financial liabilities [line items] | ||
Liabilities | 204,202 | 1,553 |
Forward contracts, Foreign currency to buy | ||
Disclosure of financial liabilities [line items] | ||
Liabilities | 204,202 | 1,416 |
Forward contracts, Foreign currency to sell | ||
Disclosure of financial liabilities [line items] | ||
Liabilities | 137 | |
Swap | ||
Disclosure of financial liabilities [line items] | ||
Liabilities | 13,364 | 2,015 |
Interest rate swap contract [member] | ||
Disclosure of financial liabilities [line items] | ||
Liabilities | $ 13,364 | $ 2,015 |
HEDGE ACCOUNTING - Textual (Det
HEDGE ACCOUNTING - Textual (Details) $ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 COP ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2021 COP ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | |||||
Other financial liabilities, hedge net foreign investment | $ 298 | $ 1,095 | |||
Reclassification adjustments on cash flow hedges, net of tax | $ 11,870 | $ (9,391) | $ 16,859 | ||
Bottom of range [member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Percentage of hedging effectiveness | 80 | ||||
Top of range [member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Percentage of hedging effectiveness | 125 | ||||
Hedges of net investment in foreign operations | Multi financial holding and other subsidiaries and branches [member] | |||||
Disclosure of detailed information about hedging instruments [line items] | |||||
Bonds issued designated as hedging instruments | $ 510 | $ 510 |
LOANS - Credit portfolio (Detai
LOANS - Credit portfolio (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,521,501) | (9,694,456) | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | General purpose loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 73,738,900 | 74,621,729 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Payroll loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 32,619,563 | 33,306,684 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Personal loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 14,232,850 | 13,425,625 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Credit cards [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 7,937,759 | 7,341,533 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Working capital loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 16,413,196 | 14,631,609 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Commercial financial leases [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 11,706,825 | 10,861,995 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Automobile and vehicle loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,332,355 | 5,421,073 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Loans funded by development banks [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 4,464,785 | 4,053,300 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Overdrafts [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 585,686 | 512,504 | ||
Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Consumer financial leases [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,509 | 18,491 | ||
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,438,261) | (9,616,860) | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (10,035,715) | (9,197,514) | (11,275,612) | (10,905,171) |
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (5,294,622) | (5,494,190) | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (22) | (1,444) | (2,386) | (851) |
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Mortgage loans [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 16,294,206 | 15,488,044 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Housing leases [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 2,192,000 | 2,395,311 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | (379,987) | (352,441) | (732,407) | (560,904) |
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | 317,739 | 372,321 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ (53,660) | $ (38,971) | $ (105,070) | $ (124,039) |
LOANS - Loan portfolio by matur
LOANS - Loan portfolio by maturity (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 176,168,055 | 179,115,847 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 186,203,770 | 188,313,361 | $ 231,573,437 | $ 206,447,165 |
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 69,119,163 | 68,298,505 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 1 to 3 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 42,517,115 | 42,605,468 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 3 to 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 24,863,613 | 25,977,595 | ||
Loan portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | More than 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 49,703,879 | 51,431,793 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 102,145,802 | 105,248,652 | ||
Loans to corporate entities [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,440,424 | 110,742,842 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 101,753,217 | 99,282,353 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 107,047,817 | 104,775,099 | 122,027,804 | 110,986,938 |
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 57,018,945 | 52,035,331 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 1 to 3 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 27,895,921 | 29,192,573 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 3 to 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 12,044,149 | 13,784,223 | ||
Commercial lending portfolio [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | More than 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,088,802 | 9,762,972 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,585 | 5,966,299 | ||
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | 3,218,433 | 4,693,678 |
Interbank and overnight funds [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 392,607 | 5,967,743 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 55,692,165 | 56,107,532 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 59,999,611 | 59,419,444 | 76,889,145 | 65,835,457 |
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 10,679,728 | 9,387,125 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 1 to 3 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 13,325,877 | 12,229,155 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 3 to 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 11,496,786 | 10,996,682 | ||
Loans to consumers [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | More than 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 24,497,220 | 26,806,482 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,106,219 | 17,530,914 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 18,486,206 | 17,883,355 | 29,120,316 | 24,558,771 |
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 865,216 | 752,955 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 1 to 3 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,187,222 | 1,078,137 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 3 to 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 1,317,412 | 1,190,998 | ||
Mortgage [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | More than 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 15,116,356 | 14,861,265 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 223,869 | 228,749 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 277,529 | 267,720 | $ 317,739 | $ 372,321 |
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | Up to 1 year | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 162,667 | 155,351 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 1 to 3 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 108,095 | 105,603 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | From 3 to 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 5,266 | 5,692 | ||
Microcredit [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | More than 5 years | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | $ 1,501 | $ 1,074 |
LOANS - Interest income by port
LOANS - Interest income by portfolio (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | |||
Total interest income | $ 26,534,115 | $ 17,559,516 | $ 11,882,144 |
Commercial lending portfolio [member] | |||
Disclosure of financial assets [line items] | |||
Total interest income | 14,497,926 | 8,608,592 | 4,698,563 |
Loans to consumers [member] | |||
Disclosure of financial assets [line items] | |||
Total interest income | 9,208,508 | 7,048,747 | 5,890,691 |
Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total interest income | 1,687,962 | 1,349,898 | 1,080,022 |
Microcredit [member] | |||
Disclosure of financial assets [line items] | |||
Total interest income | 71,352 | 64,582 | 77,880 |
Repos, interbank loans portfolio [member] | |||
Disclosure of financial assets [line items] | |||
Total interest income | $ 1,068,367 | $ 487,697 | $ 134,988 |
LOANS - Financial leasing portf
LOANS - Financial leasing portfolio - Reconciliation (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of loans and receivables [abstract] | ||
Total gross rent payments receivable | $ 29,491,587 | $ 21,766,425 |
Less amounts representing running costs (such as taxes, maintenance, insurances ,etc.,) | (495) | (544) |
Plus, estimated residual amount of assets given for rental (without guarantee) | 32,657 | 36,559 |
Gross investment in contracts of financial leasing | 29,523,749 | 21,802,440 |
Less unrealized financial income | (15,609,415) | (8,526,643) |
Net investment in contracts of financial leasing | 13,914,334 | 13,275,797 |
Loss allowance of net investment in financial leasing | $ (460,528) | $ (678,367) |
LOANS - Financial leasing por_2
LOANS - Financial leasing portfolio - Contracts receivable (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Gross investment | $ 29,523,749 | $ 21,802,440 |
Net investment | 13,914,334 | 13,275,797 |
Not later than one year [member] | ||
Disclosure of financial assets [line items] | ||
Gross investment | 13,480,780 | 4,378,980 |
Net investment | 6,398,382 | 1,962,546 |
Later than one year and not later than five years [member] | ||
Disclosure of financial assets [line items] | ||
Gross investment | 6,560,824 | 8,502,594 |
Net investment | 2,532,708 | 5,585,560 |
More than 5 years [member] | ||
Disclosure of financial assets [line items] | ||
Gross investment | 9,482,145 | 8,920,866 |
Net investment | $ 4,983,244 | $ 5,727,691 |
LOANS - Financial leasing por_3
LOANS - Financial leasing portfolio - Terms (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Vehicles and computer equipment [Member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 36 |
Vehicles and computer equipment [Member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 60 |
Machinery and equipments [Member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 60 |
Machinery and equipments [Member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 120 |
Housing leasing [Member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 120 |
Housing leasing [Member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Borrowings, maturity | 240 |
OTHER ACCOUNTS RECEIVABLE, NE_2
OTHER ACCOUNTS RECEIVABLE, NET - Net of impairment losses (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,521,501) | (9,694,456) |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,438,261) | (9,616,860) |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 25,617,225 | 23,380,573 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,002,889 | 23,762,989 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Service concession arrangements [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,812,820 | 16,153,016 |
Service concession arrangements [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,821,214 | 16,161,187 |
Service concession arrangements [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 13,990,298 | 12,653,956 |
Service concession arrangements [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (8,394) | (8,171) |
Other accounts receivable at amortized cost, except prepaid expenses [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,181,675 | 7,601,802 |
Other accounts receivable at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Other accounts receivable at amortized cost [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (385,664) | $ (382,416) |
OTHER ACCOUNTS RECEIVABLE, NE_3
OTHER ACCOUNTS RECEIVABLE, NET - Contract assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 280,746,878 | $ 274,682,875 |
Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,521,501) | (9,694,456) |
Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,332,588 | 15,370,870 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 236,970,165 | 235,373,468 |
Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,438,261) | (9,616,860) |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 25,617,225 | 23,380,573 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,002,889 | 23,762,989 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Other accounts receivable at fair value through profit or loss, mandatorily measured at fair value, and at amortized cost [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22,171,973 | 20,255,758 |
Service concession arrangements [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,812,820 | 16,153,016 |
Service concession arrangements [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,821,214 | 16,161,187 |
Service concession arrangements [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,830,916 | 3,507,231 |
Service concession arrangements [member] | Financial assets at amortised cost, category [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 13,990,298 | 12,653,956 |
Service concession arrangements [member] | Financial assets at amortised cost, category [member] | Accumulated impairment [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (8,394) | $ (8,171) |
OTHER ACCOUNTS RECEIVABLE, NE_4
OTHER ACCOUNTS RECEIVABLE, NET - Other accounts receivable (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other accounts receivables [abstract] | ||
Accounts receivable for goods and services sales in Non-financial sector companies | $ 1,469,899 | $ 1,455,555 |
Debtors | 1,889,732 | 2,061,364 |
Credit card compensations and network compensation | 1,348,140 | 658,721 |
Payment in advance | 760,877 | 633,358 |
Government | 579,701 | 577,117 |
Conditional contributions | 712,135 | 694,018 |
Taxes | 35,667 | 30,862 |
Others | 1,385,524 | 1,490,807 |
Gross balance of other accounts receivable | 8,181,675 | 7,601,802 |
Loss allowance | (377,270) | (374,245) |
Other accounts receivable, net | $ 7,804,405 | $ 7,227,557 |
NON-CURRENT ASSETS HELD FOR S_3
NON-CURRENT ASSETS HELD FOR SALE - Roll forward (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of noncurrent assets held-for-sale [line items] | |||
Balance at the beginning of the year | $ 92,830 | ||
Withdrawals from leaseback operation | (79,546) | $ (15,179) | $ (32,365) |
Balance at year end balance | 101,184 | 92,830 | |
Non-current assets held for sale [member] | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Balance at the beginning of the year | 92,830 | 208,426 | 240,412 |
Additions | 72,466 | 74,812 | 137,710 |
Assets sold, net | (118,808) | (51,863) | (60,747) |
Increase / decrease by changes in fair value | (268) | (76) | (3,780) |
Reclassifications | 62,058 | (88,609) | (135,643) |
Effect of movements in exchange rates | (7,094) | 13,960 | (8,310) |
Loss of control in subsidiary | (72,014) | ||
Discontinued operations | 8,194 | (94) | |
Balance at year end balance | 101,184 | 92,830 | 208,426 |
Non-current assets held for sale [member] | Investment property [member] | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Reclassifications | (95,593) | (31,184) | (22,847) |
Non-current assets held for sale [member] | Other assets [member] | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Reclassifications | 25,654 | (62,943) | (111,442) |
Non-current assets held for sale [member] | Property, plant and equipment [member] | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Reclassifications | $ 131,997 | $ 5,536 | 1,074 |
Non-current assets held for sale [member] | Concession arrangements [member] | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Reclassifications | (2,516) | ||
Non-current assets held for sale [member] | Right of use assets | |||
Disclosure of noncurrent assets held-for-sale [line items] | |||
Reclassifications | $ 102 |
NON-CURRENT ASSETS HELD FOR S_4
NON-CURRENT ASSETS HELD FOR SALE - Foreclosed assets, leasing agreements, other (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | $ 101,184 | $ 92,830 | ||
Foreclosed assets [member] | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 53,515 | 62,976 | ||
Foreclosed assets [member] | Movable Property | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 3,421 | 2,245 | ||
Foreclosed assets [member] | Residential Real Estates | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 15,070 | 23,802 | ||
Foreclosed assets [member] | Other real estate | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 35,024 | 36,929 | ||
Assets Received From Leasing Agreements [Member] | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 10,932 | 5,025 | ||
Assets Received From Leasing Agreements [Member] | Vehicles [member] | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 559 | 134 | ||
Assets Received From Leasing Agreements [Member] | Real estate | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 10,373 | 4,891 | ||
Other Non-Current Assets Held For Sale [Member] | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 36,737 | 24,829 | ||
Other Non-Current Assets Held For Sale [Member] | Land | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 15,534 | 3,023 | ||
Other Non-Current Assets Held For Sale [Member] | Real estate | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 20,925 | 19,911 | ||
Other Non-Current Assets Held For Sale [Member] | Other property, plant and equipment | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | 278 | 1,895 | ||
Non-current assets held for sale [member] | ||||
Disclosure of noncurrent assets held-for-sale [line items] | ||||
Non-current assets or disposal groups classified as held for sale | $ 101,184 | $ 92,830 | $ 208,426 | $ 240,412 |
NON-CURRENT ASSETS HELD FOR S_5
NON-CURRENT ASSETS HELD FOR SALE - Associated liabilities (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of noncurrent assets held-for-sale [line items] | ||
Liabilities included in disposal groups classified as held for sale | $ 4,870 | $ 12,646 |
Other accounts payable | ||
Disclosure of noncurrent assets held-for-sale [line items] | ||
Liabilities included in disposal groups classified as held for sale | 4,338 | $ 12,646 |
Provisions | ||
Disclosure of noncurrent assets held-for-sale [line items] | ||
Liabilities included in disposal groups classified as held for sale | $ 532 |
INVESTMENTS IN ASSOCIATES AND_3
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of investments in associates and joint ventures [Abstract] | ||
Associates | $ 1,288,641 | $ 1,419,296 |
Joint ventures | 2,042 | 4,047 |
Total | $ 1,290,683 | $ 1,423,343 |
INVESTMENTS IN ASSOCIATES AND_4
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Voting right percentage (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of associates [line items] | ||
Book value | $ 1,288,641 | $ 1,419,296 |
Gas Natural de Lima y Callao S.A. - Calidda [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 40% | 40% |
Book value | $ 614,577 | $ 768,953 |
Gases del Caribe S.A. E.S.P. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 31% | 31% |
Book value | $ 328,661 | $ 313,968 |
Credibanco S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 25% | 25% |
Book value | $ 210,399 | $ 205,604 |
Redeban Multicolor S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 20% | 20% |
Book value | $ 41,562 | $ 33,183 |
A.C.H Colombia S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 34% | 34% |
Book value | $ 32,580 | $ 32,134 |
Aerocali S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 50% | 50% |
Book value | $ 24,389 | $ 30,499 |
Colombiana de Extrusion S.A. Extrucol [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 30% | 30% |
Book value | $ 14,507 | $ 12,321 |
ADL Digital Lab SAS [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 34% | 34% |
Book value | $ 12,231 | $ 8,439 |
Servicios de Identidad Digital S.A.S [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 33% | 33% |
Book value | $ 4,039 | $ 7,050 |
Energia Eficiente S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 33% | 33% |
Book value | $ 3,485 | $ 4,136 |
Metrex S.A. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 18% | 18% |
Book value | $ 2,211 | $ 2,596 |
Concentra Inteligencia en Energia S.A.S. [member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 24% | |
Book value | $ 413 |
INVESTMENTS IN ASSOCIATES AND_5
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Ownership interest and book value (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of joint ventures [line items] | ||
Book value | $ 2,042 | $ 4,047 |
Renting Automayor S.A.S. [member] | ||
Disclosure of joint ventures [line items] | ||
Ownership interest | 50% | 50% |
Book value | $ 2,042 | $ 4,047 |
INVESTMENTS IN ASSOCIATES AND_6
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in associates (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | |||
Balance at the beginning of the year | $ 1,419,296 | ||
Participation in the profit or loss of the period | 2,177,116 | $ 4,002,967 | $ 4,041,190 |
Participation in Other Comprehensive Income | 562,527 | (3,162,875) | 452,759 |
Dividends declared | (2,040,507) | (669,795) | (2,073,675) |
Year-end balance | 1,288,641 | 1,419,296 | |
Associates [member] | |||
Disclosure of associates [line items] | |||
Balance at the beginning of the year | 1,419,296 | 1,170,435 | 1,029,243 |
Acquisitions | 2,433 | 7,267 | 4,539 |
Participation in the profit or loss of the period | 373,402 | 371,127 | 298,705 |
Participation in Other Comprehensive Income | (35,892) | 81,730 | (846) |
Dividends declared | (363,466) | (301,895) | (225,844) |
Liquidated entity | (282) | ||
Exchange difference | (106,850) | 90,632 | 63,654 |
Realization of Other Comprehensive Income | 1,059 | ||
Dilution effect | (75) | ||
Year-end balance | $ 1,288,641 | $ 1,419,296 | $ 1,170,435 |
INVESTMENTS IN ASSOCIATES AND_7
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Roll forward of investment in joint ventures (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of joint ventures [line items] | |||
Balance at the beginning of the year | $ 4,047 | ||
Participation in the profit or loss of the period | 2,177,116 | $ 4,002,967 | $ 4,041,190 |
Year-end balance | 2,042 | 4,047 | |
Joint ventures [member] | |||
Disclosure of joint ventures [line items] | |||
Balance at the beginning of the year | 4,047 | 2,394 | 79 |
Participation in the profit or loss of the period | (2,005) | 1,650 | 1,512 |
Dividends received | (70) | ||
Acquisitions | 3 | ||
Exchange difference | 873 | ||
Year-end balance | $ 2,042 | $ 4,047 | $ 2,394 |
INVESTMENTS IN ASSOCIATES AND_8
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES - Financial information of associates (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of associates [line items] | ||||
Assets | $ 301,181,596 | $ 295,591,236 | ||
Liabilities | 269,661,180 | 264,769,577 | ||
Equity | 31,520,416 | 30,821,659 | $ 39,471,647 | $ 35,439,557 |
Income | 47,658,238 | 37,274,770 | 39,064,493 | |
Expenses | 45,481,122 | 32,405,637 | 33,395,991 | |
Net income for the year | $ 2,177,116 | 4,869,133 | $ 5,668,502 | |
Homogenizations Percentage | 100% | |||
Associates [member] | ||||
Disclosure of associates [line items] | ||||
Assets | $ 13,551,590 | 12,415,610 | ||
Liabilities | 10,123,377 | 8,777,410 | ||
Equity | 3,428,213 | 3,638,200 | ||
Income | 8,924,992 | 8,221,124 | ||
Expenses | 7,874,084 | 7,185,356 | ||
Net income for the year | 1,050,908 | 1,035,768 | ||
Gas Natural de Lima y Callao S.A. Calidda [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 6,116,364 | 6,733,310 | ||
Liabilities | 4,521,154 | 4,832,852 | ||
Equity | 1,595,210 | 1,900,458 | ||
Income | 3,832,676 | 3,459,381 | ||
Expenses | 3,378,051 | 3,016,832 | ||
Net income for the year | 454,625 | 442,549 | ||
Gases del Caribe S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 4,066,193 | 3,608,541 | ||
Liabilities | 2,974,633 | 2,547,812 | ||
Equity | 1,091,560 | 1,060,729 | ||
Income | 3,104,261 | 3,049,998 | ||
Expenses | 2,730,690 | 2,678,762 | ||
Net income for the year | 373,571 | 371,236 | ||
Credibanco S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 431,534 | 416,819 | ||
Liabilities | 180,505 | 189,622 | ||
Equity | 251,029 | 227,197 | ||
Income | 329,109 | 283,294 | ||
Expenses | 293,021 | 258,230 | ||
Net income for the year | 36,088 | 25,064 | ||
Redeban Multicolor S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 2,101,985 | 981,505 | ||
Liabilities | 1,918,782 | 817,262 | ||
Equity | 183,203 | 164,243 | ||
Income | 443,196 | 363,785 | ||
Expenses | 423,438 | 331,105 | ||
Net income for the year | 19,758 | 32,680 | ||
A.C.H Colombia S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 342,153 | 215,653 | ||
Liabilities | 232,328 | 120,605 | ||
Equity | 109,825 | 95,048 | ||
Income | 292,592 | 245,030 | ||
Expenses | 184,168 | 148,782 | ||
Net income for the year | 108,424 | 96,248 | ||
Aerocali S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 92,950 | 106,967 | ||
Liabilities | 44,172 | 45,969 | ||
Equity | 48,778 | 60,998 | ||
Income | 254,751 | 247,929 | ||
Expenses | 209,945 | 188,515 | ||
Net income for the year | 44,806 | 59,414 | ||
Colombiana de Extrusion S.A. Extrucol [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 112,151 | 100,728 | ||
Liabilities | 63,795 | 59,658 | ||
Equity | 48,356 | 41,070 | ||
Income | 183,121 | 160,587 | ||
Expenses | 167,562 | 151,815 | ||
Net income for the year | 15,559 | 8,772 | ||
ADL Digital Lab SAS [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 71,577 | 63,442 | ||
Liabilities | 35,602 | 38,620 | ||
Equity | 35,975 | 24,822 | ||
Income | 74,645 | 57,360 | ||
Expenses | 63,492 | 44,344 | ||
Net income for the year | 11,153 | 13,016 | ||
Servicios de Identidad Digital S.A.S [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 50,428 | 25,995 | ||
Liabilities | 22,812 | 4,846 | ||
Equity | 27,616 | 21,149 | ||
Income | 857 | 754 | ||
Expenses | 19,694 | 22,101 | ||
Net income for the year | (18,837) | (21,347) | ||
Energia Eficiente S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 124,797 | 106,493 | ||
Liabilities | 100,424 | 80,168 | ||
Equity | 24,373 | 26,325 | ||
Income | 328,840 | 271,988 | ||
Expenses | 325,794 | 267,999 | ||
Net income for the year | 3,046 | 3,989 | ||
Metrex S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 41,458 | 54,170 | ||
Liabilities | 29,170 | 39,743 | ||
Equity | 12,288 | 14,427 | ||
Income | 80,944 | 79,880 | ||
Expenses | 78,229 | 74,959 | ||
Net income for the year | 2,715 | 4,921 | ||
Concentra Inteligencia en Energia S.A.S. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 1,987 | |||
Liabilities | 253 | |||
Equity | 1,734 | |||
Income | 1,138 | |||
Expenses | 1,912 | |||
Net income for the year | (774) | |||
Joint ventures [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 120,113 | 104,729 | ||
Liabilities | 115,786 | 96,345 | ||
Equity | 4,327 | 8,384 | ||
Income | 34,762 | 8,473 | ||
Expenses | 38,774 | 5,168 | ||
Net income for the year | (4,012) | 3,305 | ||
Renting Automayor S.A. [member] | ||||
Disclosure of associates [line items] | ||||
Assets | 120,113 | 104,729 | ||
Liabilities | 115,786 | 96,345 | ||
Equity | 4,327 | 8,384 | ||
Income | 34,762 | 8,473 | ||
Expenses | 38,774 | 5,168 | ||
Net income for the year | $ (4,012) | $ 3,305 |
TANGIBLE ASSETS - Carrying Valu
TANGIBLE ASSETS - Carrying Value (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | $ 7,235,441 | $ 9,100,553 | |
Tangible assets at end of period | 6,995,890 | 7,235,441 | $ 9,100,553 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 10,746,735 | 14,281,283 | 13,387,450 |
Increase / (decrease) due to changes in the lease variables | 636,227 | 89,087 | 45,650 |
Purchases or capitalized expenses | 910,673 | 840,715 | 681,039 |
Withdrawals / Sales | (946,287) | (721,437) | (516,673) |
Change in fair value | 103,559 | 112,789 | 51,321 |
Revaluation of investment properties | 557 | 797 | 7,991 |
Transfers to/from non-current assets held for sale | (93,702) | 22,010 | 20,986 |
Reclassification BAC | 548,178 | ||
Loss of control in subsidiary | (565) | (3,999,549) | |
Discontinued operations | (26,314) | (16,779) | |
Effect of movement in exchange rates | (197,600) | 159,028 | 95,540 |
Reclassifications | (529,051) | (11,674) | (23,420) |
Tangible assets at end of period | 10,630,546 | 10,746,735 | 14,281,283 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (3,505,547) | (5,174,994) | (4,408,512) |
Depreciation of the year charged against profit or loss | (557,062) | (559,875) | (551,799) |
Withdrawals / Sales | 337,714 | 267,823 | 225,069 |
Transfers to/from non-current assets held for sale | 57,298 | 3,638 | 733 |
Reclassification BAC | (96,275) | ||
Loss of control in subsidiary | 476 | 2,050,350 | |
Discontinued operations | (59,005) | (319,870) | |
Effect of movement in exchange rates | 41,213 | (28,692) | (11,608) |
Reclassifications | (2,997) | (4,792) | (12,732) |
Tangible assets at end of period | (3,628,905) | (3,505,547) | (5,174,994) |
Accumulated impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (5,747) | (5,736) | (4,986) |
Year impairment charge | (4) | (1,216) | (746) |
Withdrawals / Sales | 1,205 | ||
Transfers to/from non-current assets held for sale | 54 | ||
Reclassifications | (58) | ||
Tangible assets at end of period | (5,751) | (5,747) | (5,736) |
Right of use assets | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 1,329,594 | 1,900,396 | |
Tangible assets at end of period | 1,336,957 | 1,329,594 | 1,900,396 |
Right of use assets | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 2,095,839 | 2,839,802 | 2,721,904 |
Increase / (decrease) due to changes in the lease variables | 636,227 | 89,087 | 45,650 |
Purchases or capitalized expenses | 236,652 | 205,587 | 173,793 |
Withdrawals / Sales | (174,060) | (152,284) | (175,139) |
Reclassification BAC | 44,454 | ||
Loss of control in subsidiary | (928,279) | ||
Effect of movement in exchange rates | (39,001) | 38,353 | 17,978 |
Reclassifications | (504,889) | 3,573 | 11,162 |
Tangible assets at end of period | 2,250,768 | 2,095,839 | 2,839,802 |
Right of use assets | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (766,245) | (939,406) | (686,385) |
Depreciation of the year charged against profit or loss | (248,488) | (236,587) | (225,195) |
Withdrawals / Sales | 90,904 | 84,643 | 107,225 |
Reclassification BAC | (4,635) | ||
Loss of control in subsidiary | 370,917 | ||
Discontinued operations | (29,625) | (116,023) | |
Effect of movement in exchange rates | 11,611 | (10,274) | (1,120) |
Reclassifications | (1,593) | (5,913) | (13,273) |
Tangible assets at end of period | (913,811) | (766,245) | (939,406) |
Investment property [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 880,963 | 852,935 | |
Tangible assets at end of period | 906,469 | 880,963 | 852,935 |
Investment property [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 880,963 | 852,935 | 808,556 |
Purchases or capitalized expenses | 56,307 | 70,081 | 77,157 |
Withdrawals / Sales | (200,670) | (127,753) | (93,845) |
Change in fair value | 84,958 | 55,930 | 22,775 |
Revaluation of investment properties | 557 | 797 | 7,991 |
Transfers to/from non-current assets held for sale | 95,593 | 31,184 | 22,847 |
Effect of movement in exchange rates | (7,079) | 2,282 | 2,964 |
Reclassifications | (4,160) | (4,493) | 4,490 |
Tangible assets at end of period | 906,469 | 880,963 | 852,935 |
Biological assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 212,630 | 154,986 | |
Tangible assets at end of period | 230,672 | 212,630 | 154,986 |
Biological assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 212,630 | 154,986 | 122,675 |
Purchases or capitalized expenses | 26,118 | 28,368 | 27,213 |
Withdrawals / Sales | (26,677) | (27,583) | (23,448) |
Change in fair value | 18,601 | 56,859 | 28,546 |
Tangible assets at end of period | 230,672 | 212,630 | 154,986 |
Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 4,730,242 | 6,154,168 | |
Tangible assets at end of period | 4,427,803 | 4,730,242 | 6,154,168 |
Property, plant and equipment not subject to operating leases [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 7,456,503 | 10,385,357 | 9,718,210 |
Purchases or capitalized expenses | 561,009 | 477,795 | 368,570 |
Withdrawals / Sales | (544,864) | (413,817) | (224,241) |
Transfers to/from non-current assets held for sale | (189,295) | (9,174) | (1,861) |
Reclassification BAC | 503,724 | ||
Loss of control in subsidiary | (565) | (3,071,270) | |
Discontinued operations | (26,314) | (16,779) | |
Effect of movement in exchange rates | (151,520) | 118,393 | 74,598 |
Reclassifications | (17,712) | (4,467) | (36,864) |
Tangible assets at end of period | 7,113,556 | 7,456,503 | 10,385,357 |
Property, plant and equipment not subject to operating leases [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (2,720,889) | (4,225,609) | (3,715,017) |
Depreciation of the year charged against profit or loss | (289,999) | (308,642) | (321,527) |
Withdrawals / Sales | 246,794 | 183,180 | 117,844 |
Transfers to/from non-current assets held for sale | 57,298 | 3,638 | 733 |
Reclassification BAC | (91,640) | ||
Loss of control in subsidiary | 476 | 1,679,433 | |
Discontinued operations | (29,380) | (203,847) | |
Effect of movement in exchange rates | 29,602 | (18,418) | (10,488) |
Reclassifications | (3,694) | (5,091) | (1,667) |
Tangible assets at end of period | (2,680,412) | (2,720,889) | (4,225,609) |
Property, plant and equipment not subject to operating leases [member] | Accumulated impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (5,372) | (5,580) | (4,902) |
Year impairment charge | 31 | (997) | (674) |
Withdrawals / Sales | 1,205 | ||
Transfers to/from non-current assets held for sale | 54 | ||
Reclassifications | (58) | ||
Tangible assets at end of period | (5,341) | (5,372) | (5,580) |
Property, plant and equipment subject to operating leases [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 82,012 | 38,068 | |
Tangible assets at end of period | 93,989 | 82,012 | 38,068 |
Property, plant and equipment subject to operating leases [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | 100,800 | 48,203 | 16,105 |
Purchases or capitalized expenses | 30,587 | 58,884 | 34,306 |
Withdrawals / Sales | (16) | ||
Reclassifications | (2,290) | (6,287) | (2,208) |
Tangible assets at end of period | 129,081 | 100,800 | 48,203 |
Property, plant and equipment subject to operating leases [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (18,413) | (9,979) | (7,110) |
Depreciation of the year charged against profit or loss | (18,575) | (14,646) | (5,077) |
Withdrawals / Sales | 16 | ||
Reclassifications | 2,290 | 6,212 | 2,208 |
Tangible assets at end of period | (34,682) | (18,413) | (9,979) |
Property, plant and equipment subject to operating leases [member] | Accumulated impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Tangible assets at beginning of period | (375) | (156) | (84) |
Year impairment charge | (35) | (219) | (72) |
Tangible assets at end of period | $ (410) | $ (375) | $ (156) |
TANGIBLE ASSETS - Tangible asse
TANGIBLE ASSETS - Tangible assets for own use (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ 6,995,890 | $ 7,235,441 | $ 9,100,553 | |
Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 10,630,546 | 10,746,735 | 14,281,283 | $ 13,387,450 |
Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (3,628,905) | (3,505,547) | (5,174,994) | (4,408,512) |
Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (5,751) | (5,747) | (5,736) | (4,986) |
Property, plant and equipment not subject to operating leases [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 4,427,803 | 4,730,242 | 6,154,168 | |
Property, plant and equipment not subject to operating leases [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 7,113,556 | 7,456,503 | 10,385,357 | 9,718,210 |
Property, plant and equipment not subject to operating leases [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (2,680,412) | (2,720,889) | (4,225,609) | (3,715,017) |
Property, plant and equipment not subject to operating leases [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (5,341) | (5,372) | $ (5,580) | $ (4,902) |
Property, plant and equipment not subject to operating leases [member] | Land | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 764,148 | 883,042 | ||
Property, plant and equipment not subject to operating leases [member] | Land | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 766,013 | 884,828 | ||
Property, plant and equipment not subject to operating leases [member] | Land | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (1,865) | (1,786) | ||
Property, plant and equipment not subject to operating leases [member] | Buildings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,288,967 | 1,564,400 | ||
Property, plant and equipment not subject to operating leases [member] | Buildings [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,703,700 | 2,035,987 | ||
Property, plant and equipment not subject to operating leases [member] | Buildings [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (411,582) | (468,445) | ||
Property, plant and equipment not subject to operating leases [member] | Buildings [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (3,151) | (3,142) | ||
Property, plant and equipment not subject to operating leases [member] | Office equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 148,513 | 154,705 | ||
Property, plant and equipment not subject to operating leases [member] | Office equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 628,991 | 632,318 | ||
Property, plant and equipment not subject to operating leases [member] | Office equipment [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (480,429) | (477,584) | ||
Property, plant and equipment not subject to operating leases [member] | Office equipment [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (49) | (29) | ||
Property, plant and equipment not subject to operating leases [member] | Computer equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 443,835 | 392,366 | ||
Property, plant and equipment not subject to operating leases [member] | Computer equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,465,341 | 1,425,844 | ||
Property, plant and equipment not subject to operating leases [member] | Computer equipment [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (1,021,448) | (1,033,280) | ||
Property, plant and equipment not subject to operating leases [member] | Computer equipment [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (58) | (198) | ||
Property, plant and equipment not subject to operating leases [member] | Motor vehicles | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 19,977 | 19,000 | ||
Property, plant and equipment not subject to operating leases [member] | Motor vehicles | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 100,840 | 99,156 | ||
Property, plant and equipment not subject to operating leases [member] | Motor vehicles | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (80,863) | (80,156) | ||
Property, plant and equipment not subject to operating leases [member] | Machinery [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,259,642 | 1,202,237 | ||
Property, plant and equipment not subject to operating leases [member] | Machinery [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,786,790 | 1,690,012 | ||
Property, plant and equipment not subject to operating leases [member] | Machinery [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (526,930) | (487,558) | ||
Property, plant and equipment not subject to operating leases [member] | Machinery [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (218) | (217) | ||
Property, plant and equipment not subject to operating leases [member] | Silos [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,786 | |||
Property, plant and equipment not subject to operating leases [member] | Silos [Member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 8,613 | |||
Property, plant and equipment not subject to operating leases [member] | Silos [Member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (6,827) | |||
Property, plant and equipment not subject to operating leases [member] | Warehouses | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 11,069 | 27,327 | ||
Property, plant and equipment not subject to operating leases [member] | Warehouses | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 17,769 | 64,091 | ||
Property, plant and equipment not subject to operating leases [member] | Warehouses | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (6,700) | (36,764) | ||
Property, plant and equipment not subject to operating leases [member] | Leasehold improvements | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 89,272 | 98,678 | ||
Property, plant and equipment not subject to operating leases [member] | Leasehold improvements | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 202,886 | 198,725 | ||
Property, plant and equipment not subject to operating leases [member] | Leasehold improvements | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (113,614) | (100,047) | ||
Property, plant and equipment not subject to operating leases [member] | Construction in progress | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 149,480 | 143,250 | ||
Property, plant and equipment not subject to operating leases [member] | Construction in progress | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 149,480 | 143,250 | ||
Property, plant and equipment not subject to operating leases [member] | Bearer plants [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 252,900 | 243,451 | ||
Property, plant and equipment not subject to operating leases [member] | Bearer plants [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 291,746 | 273,679 | ||
Property, plant and equipment not subject to operating leases [member] | Bearer plants [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ (38,846) | $ (30,228) |
TANGIBLE ASSETS - Right-of-use
TANGIBLE ASSETS - Right-of-use assets (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ 6,995,890 | $ 7,235,441 | $ 9,100,553 | |
Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 10,630,546 | 10,746,735 | 14,281,283 | $ 13,387,450 |
Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (3,628,905) | (3,505,547) | (5,174,994) | (4,408,512) |
Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (5,751) | (5,747) | (5,736) | (4,986) |
Right of use assets | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,336,957 | 1,329,594 | 1,900,396 | |
Right of use assets | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 2,250,768 | 2,095,839 | 2,839,802 | 2,721,904 |
Right of use assets | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (913,811) | (766,245) | $ (939,406) | $ (686,385) |
Right of use assets | Land | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 33,500 | 31,996 | ||
Right of use assets | Land | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 41,973 | 38,876 | ||
Right of use assets | Land | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (8,473) | (6,880) | ||
Right of use assets | Buildings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,026,839 | 1,018,396 | ||
Right of use assets | Buildings [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 1,627,781 | 1,526,488 | ||
Right of use assets | Buildings [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (600,942) | (508,092) | ||
Right of use assets | Office equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 2,922 | 1,137 | ||
Right of use assets | Office equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 5,322 | 1,882 | ||
Right of use assets | Office equipment [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (2,400) | (745) | ||
Right of use assets | Computer equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 45,221 | 61,572 | ||
Right of use assets | Computer equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 126,714 | 122,098 | ||
Right of use assets | Computer equipment [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (81,493) | (60,526) | ||
Right of use assets | Motor vehicles | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 30,888 | 25,554 | ||
Right of use assets | Motor vehicles | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 66,123 | 57,038 | ||
Right of use assets | Motor vehicles | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (35,235) | (31,484) | ||
Right of use assets | Machinery [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 120,639 | 112,947 | ||
Right of use assets | Machinery [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 223,434 | 204,044 | ||
Right of use assets | Machinery [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (102,795) | (91,097) | ||
Right of use assets | Warehouses | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 76,948 | 77,992 | ||
Right of use assets | Warehouses | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 159,421 | 145,413 | ||
Right of use assets | Warehouses | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ (82,473) | $ (67,421) |
TANGIBLE ASSETS - Investment pr
TANGIBLE ASSETS - Investment properties - Summary (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investment properties, cost | $ 637,289 | $ 629,553 |
Investment properties, accumulated adjustments to fair value | 269,180 | 251,410 |
Investment properties | 906,469 | 880,963 |
Land | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investment properties, cost | 301,519 | 346,398 |
Investment properties, accumulated adjustments to fair value | 184,715 | 175,866 |
Investment properties | 486,234 | 522,264 |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Investment properties, cost | 335,770 | 283,155 |
Investment properties, accumulated adjustments to fair value | 84,465 | 75,544 |
Investment properties | $ 420,235 | $ 358,699 |
TANGIBLE ASSETS - Investment _2
TANGIBLE ASSETS - Investment properties - Amounts recognized in statement of income (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |||
Income from rents | $ 9,618 | $ 11,930 | $ 7,862 |
Direct operating expenses deriving from property investments which create income from rent | (1,294) | (919) | (1,793) |
Direct operating expenses deriving from property investments which do not create income from rent | (13,733) | (6,852) | (5,292) |
Net | $ (5,409) | $ 4,159 | $ 777 |
TANGIBLE ASSETS - Operating Lea
TANGIBLE ASSETS - Operating Lease (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ 6,995,890 | $ 7,235,441 | $ 9,100,553 | |
Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 10,630,546 | 10,746,735 | 14,281,283 | $ 13,387,450 |
Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (3,628,905) | (3,505,547) | (5,174,994) | (4,408,512) |
Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (5,751) | (5,747) | (5,736) | (4,986) |
Property, plant and equipment subject to operating leases [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 93,989 | 82,012 | 38,068 | |
Property, plant and equipment subject to operating leases [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 129,081 | 100,800 | 48,203 | 16,105 |
Property, plant and equipment subject to operating leases [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (34,682) | (18,413) | (9,979) | (7,110) |
Property, plant and equipment subject to operating leases [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (410) | (375) | $ (156) | $ (84) |
Property, plant and equipment subject to operating leases [member] | Computer equipment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 25,914 | 35,287 | ||
Property, plant and equipment subject to operating leases [member] | Computer equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 45,873 | 47,094 | ||
Property, plant and equipment subject to operating leases [member] | Computer equipment [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (19,959) | (11,807) | ||
Property, plant and equipment subject to operating leases [member] | Motor vehicles | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 45,674 | 43,970 | ||
Property, plant and equipment subject to operating leases [member] | Motor vehicles | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 55,009 | 48,210 | ||
Property, plant and equipment subject to operating leases [member] | Motor vehicles | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (9,335) | (4,240) | ||
Property, plant and equipment subject to operating leases [member] | Machinery [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 22,401 | 2,755 | ||
Property, plant and equipment subject to operating leases [member] | Machinery [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | 28,199 | 5,496 | ||
Property, plant and equipment subject to operating leases [member] | Machinery [member] | Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | (5,388) | (2,366) | ||
Property, plant and equipment subject to operating leases [member] | Machinery [member] | Accumulated impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Tangible assets | $ (410) | $ (375) |
TANGIBLE ASSETS - Textual (Deta
TANGIBLE ASSETS - Textual (Details) - COP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | $ 6,995,890 | $ 7,235,441 | $ 9,100,553 | ||
Property, plant and equipment for own-use and given in operating lease, net | 4,521,792 | 4,812,254 | |||
Right-of-use assets | 1,336,957 | 1,329,594 | |||
Banco de Occidente S.A. | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Disposals, investment property | 6,704 | ||||
Banco de Bogota S.A. | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Disposals, property, plant and equipment | 25,400 | 68,530 | |||
Disposals, investment property | 41,412 | 10,500 | |||
Banco AV Villas S A | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Disposals, property, plant and equipment | 33,053 | 36,319 | |||
Disposals, investment property | 11,510 | ||||
Banco Popular S.A. | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Disposals, property, plant and equipment | 114,771 | 11,303 | |||
Disposals, investment property | 21,459 | 6,398 | |||
BAC Holding International Corp | Ifrs Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | $ 1,899,743 | ||||
Property, plant and equipment | 1,361,821 | ||||
Right-of-use assets | $ 537,922 | ||||
Property, plant and equipment not subject to operating leases [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Capitalized expenses | 802 | 2,113 | 6,152 | ||
Borrowing costs capitalized | 9,769 | 1,921 | |||
Decommissioning cost | $ 1,723 | $ 666 | 1,189 | ||
Capitalized interest rate | 11.82% | 10.10% | |||
Tangible assets | $ 4,427,803 | $ 4,730,242 | 6,154,168 | ||
Additions other than through business combinations, tangible assets, transferred from concession arrangements | 14,532 | ||||
Investment property [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Assets received in total or partial settlement of payment obligations of debtors | 56,144 | 64,429 | 75,788 | ||
Tangible assets | 906,469 | 880,963 | 852,935 | ||
Investment property [member] | Corficolombiana S.A | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Purchases or capitalized expenses | 5,652 | ||||
Investment property [member] | Banco de Occidente S.A. | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Purchases or capitalized expenses | 493 | ||||
Biological assets [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | 230,672 | 212,630 | 154,986 | ||
Gross carrying amount [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | 10,630,546 | 10,746,735 | 14,281,283 | $ 13,387,450 | |
Purchases or capitalized expenses | 910,673 | 840,715 | 681,039 | ||
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | 7,113,556 | 7,456,503 | 10,385,357 | 9,718,210 | |
Purchases or capitalized expenses | 561,009 | 477,795 | 368,570 | ||
Gross carrying amount [member] | Investment property [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | 906,469 | 880,963 | 852,935 | 808,556 | |
Purchases or capitalized expenses | 56,307 | 70,081 | 77,157 | ||
Gross carrying amount [member] | Biological assets [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | 230,672 | 212,630 | 154,986 | 122,675 | |
Purchases or capitalized expenses | 26,118 | 28,368 | 27,213 | ||
Accumulated impairment [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | (5,751) | (5,747) | (5,736) | (4,986) | |
Accumulated impairment [member] | Property, plant and equipment not subject to operating leases [member] | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Tangible assets | $ (5,341) | $ (5,372) | $ (5,580) | $ (4,902) |
CONCESSION ARRANGEMENTS RIGHT_2
CONCESSION ARRANGEMENTS RIGHTS - General information (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | $ 280,746,878 | $ 274,682,875 | ||
Intangible assets | 2,382,427 | 2,040,158 | $ 1,886,042 | $ 1,623,670 |
Assets | 301,181,596 | 295,591,236 | ||
Impairment loss | 4,182,394 | 2,493,148 | 2,721,083 | |
Service concession arrangement [member] | ||||
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | 17,812,820 | 16,153,016 | 13,081,532 | 9,727,508 |
Intangible assets | 13,557,267 | 13,242,706 | 11,098,116 | $ 9,187,564 |
Assets | 31,370,087 | 29,395,722 | ||
Impairment loss | 223 | 1,220 | 3,050 | |
Financial assets at fair value through profit or loss, category [member] | ||||
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | 19,332,588 | 15,370,870 | ||
Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | Service concession arrangement [member] | ||||
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | 3,830,916 | 3,507,231 | ||
Financial assets at amortised cost, category [member] | ||||
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | 236,970,165 | 235,373,468 | ||
Impairment loss | 4,802,074 | 3,179,476 | $ 4,551,160 | |
Financial assets at amortised cost, category [member] | Service concession arrangement [member] | ||||
Disclosure of detailed information about service concession arrangements [line items] | ||||
Financial assets | $ 13,981,904 | $ 12,645,785 |
CONCESSION ARRANGEMENTS RIGHT_3
CONCESSION ARRANGEMENTS RIGHTS - Financial assets in concession arrangements (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | $ 274,682,875 | ||
Net income from other financial instruments mandatorily at FVTPL | 323,685 | $ 278,751 | $ 270,095 |
Impairment expense | (4,182,394) | (2,493,148) | (2,721,083) |
Financial assets at end of period | 280,746,878 | 274,682,875 | |
Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 15,370,870 | ||
Financial assets at end of period | 19,332,588 | 15,370,870 | |
Financial assets at amortised cost, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 235,373,468 | ||
Impairment expense | (4,802,074) | (3,179,476) | (4,551,160) |
Financial assets at end of period | 236,970,165 | 235,373,468 | |
Service concession arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 16,153,016 | 13,081,532 | 9,727,508 |
Additions or new concession arrangements | 995,993 | 1,695,025 | 2,613,987 |
Collections during the year | (1,144,396) | (732,647) | (273,665) |
Net income from other financial instruments mandatorily at FVTPL | 323,685 | 278,751 | 270,095 |
Accrued interest | 1,493,115 | 1,831,326 | 746,657 |
Impairment expense | (223) | (1,220) | (3,050) |
Effect of movements in exchange rates | (8,370) | 249 | |
Financial assets at end of period | 17,812,820 | 16,153,016 | 13,081,532 |
Service concession arrangement [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 3,507,231 | ||
Financial assets at end of period | 3,830,916 | 3,507,231 | |
Service concession arrangement [member] | Financial assets at amortised cost, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 12,645,785 | ||
Financial assets at end of period | 13,981,904 | 12,645,785 | |
Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 3,512,055 | 3,228,480 | 2,958,385 |
Additions or new concession arrangements | 118,109 | 4,575 | |
Net income from other financial instruments mandatorily at FVTPL | 323,685 | 278,751 | 270,095 |
Effect of movements in exchange rates | (8,370) | 249 | |
Financial assets at end of period | 3,945,479 | 3,512,055 | 3,228,480 |
Gas and Energy Concession Arrangement [member] | Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 3,507,231 | 3,228,480 | 2,958,385 |
Net income from other financial instruments mandatorily at FVTPL | 323,685 | 278,751 | 270,095 |
Financial assets at end of period | 3,830,916 | 3,507,231 | 3,228,480 |
Gas and Energy Concession Arrangement [member] | Financial assets at amortised cost, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 4,824 | ||
Additions or new concession arrangements | 118,109 | 4,575 | |
Effect of movements in exchange rates | (8,370) | 249 | |
Financial assets at end of period | 114,563 | 4,824 | |
Infrastructure Concession Arrangement [member] | Financial assets at amortised cost, category [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets at beginning of period | 12,640,961 | 9,853,052 | 6,769,123 |
Additions or new concession arrangements | 877,884 | 1,690,450 | 2,613,987 |
Collections during the year | (1,144,396) | (732,647) | (273,665) |
Accrued interest | 1,493,115 | 1,831,326 | 746,657 |
Impairment expense | (223) | (1,220) | (3,050) |
Financial assets at end of period | $ 13,867,341 | $ 12,640,961 | $ 9,853,052 |
CONCESSION ARRANGEMENTS RIGHT_4
CONCESSION ARRANGEMENTS RIGHTS - Financial assets in concession arrangements - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Covioriente [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets, in work in progress | $ 715,573 | $ 1,043,138 | $ 1,264,543 |
Covipacifico [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Financial assets, in work in progress | $ 130,105 | $ 621,988 | $ 1,306,580 |
CONCESSION ARRANGEMENTS RIGHT_5
CONCESSION ARRANGEMENTS RIGHTS - Intangible assets in concession arrangements - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | $ 2,040,158 | $ 1,886,042 | $ 1,623,670 |
Additions | 682,696 | 599,678 | 482,528 |
Amortization of the year | (277,022) | (257,917) | (237,628) |
Impairment charge | 3,000 | ||
Effect of movements in exchange rates | (35,407) | 31,564 | 22,874 |
Ending Balance | 2,382,427 | 2,040,158 | 1,886,042 |
Service concession arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 13,242,706 | 11,098,116 | 9,187,564 |
Ending Balance | 13,557,267 | 13,242,706 | 11,098,116 |
Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 5,891,841 | 4,831,161 | 3,831,577 |
Ending Balance | 5,524,828 | 5,891,841 | 4,831,161 |
Infrastructure Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 7,350,865 | 6,266,955 | 5,355,987 |
Ending Balance | 8,032,439 | 7,350,865 | 6,266,955 |
Gross carrying amount [member] | Service concession arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 14,760,176 | 12,311,890 | 10,150,745 |
Additions | 1,302,943 | 1,912,368 | 1,904,711 |
Reclassification to / from PPE | 4,270 | 113 | 20,301 |
Transfer to non-current assets held for sale | 2,516 | ||
Withdrawals | (6,489) | (11,724) | (5,104) |
Effect of movements in exchange rates | (712,856) | 547,529 | 238,721 |
Cost / (Amortization) / (Impairment loss) | 587,868 | 2,448,286 | 2,161,145 |
Ending Balance | 15,348,044 | 14,760,176 | 12,311,890 |
Gross carrying amount [member] | Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 7,238,835 | 5,893,832 | 4,654,890 |
Additions | 588,454 | 809,085 | 982,508 |
Reclassification to / from PPE | 229 | 113 | 20,301 |
Transfer to non-current assets held for sale | 2,516 | ||
Withdrawals | (6,489) | (11,724) | (5,104) |
Effect of movements in exchange rates | (712,856) | 547,529 | 238,721 |
Cost / (Amortization) / (Impairment loss) | (130,662) | 1,345,003 | 1,238,942 |
Ending Balance | 7,108,173 | 7,238,835 | 5,893,832 |
Gross carrying amount [member] | Infrastructure Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | 7,521,341 | 6,418,058 | 5,495,855 |
Additions | 714,489 | 1,103,283 | 922,203 |
Reclassification to / from PPE | 4,041 | ||
Cost / (Amortization) / (Impairment loss) | 718,530 | 1,103,283 | 922,203 |
Ending Balance | 8,239,871 | 7,521,341 | 6,418,058 |
Accumulated depreciation and amortisation [member] | Service concession arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (1,505,046) | (1,202,372) | (957,943) |
Reclassification to / from PPE | (2,184) | (45) | |
Amortization of the year | (317,087) | (272,708) | (232,815) |
Withdrawals | 289 | 835 | 1,236 |
Effect of movements in exchange rates | 41,062 | (30,801) | (12,895) |
Cost / (Amortization) / (Impairment loss) | (277,920) | (302,674) | (244,429) |
Ending Balance | (1,782,966) | (1,505,046) | (1,202,372) |
Accumulated depreciation and amortisation [member] | Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (1,339,183) | (1,055,525) | (821,017) |
Reclassification to / from PPE | (45) | ||
Amortization of the year | (277,702) | (253,692) | (222,894) |
Withdrawals | 289 | 835 | 1,236 |
Effect of movements in exchange rates | 41,062 | (30,801) | (12,895) |
Cost / (Amortization) / (Impairment loss) | (236,351) | (283,658) | (234,508) |
Ending Balance | (1,575,534) | (1,339,183) | (1,055,525) |
Accumulated depreciation and amortisation [member] | Infrastructure Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (165,863) | (146,847) | (136,926) |
Reclassification to / from PPE | (2,184) | ||
Amortization of the year | (39,385) | (19,016) | (9,921) |
Cost / (Amortization) / (Impairment loss) | (41,569) | (19,016) | (9,921) |
Ending Balance | (207,432) | (165,863) | (146,847) |
Accumulated impairment [member] | Service concession arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (12,424) | (11,402) | (5,238) |
Impairment charge | 4,613 | (1,022) | (6,164) |
Cost / (Amortization) / (Impairment loss) | 4,613 | (1,022) | (6,164) |
Ending Balance | (7,811) | (12,424) | (11,402) |
Accumulated impairment [member] | Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (7,811) | (7,146) | (2,296) |
Impairment charge | (665) | (4,850) | |
Cost / (Amortization) / (Impairment loss) | (665) | (4,850) | |
Ending Balance | (7,811) | (7,811) | (7,146) |
Accumulated impairment [member] | Infrastructure Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Beginning Balance | (4,613) | (4,256) | (2,942) |
Impairment charge | 4,613 | (357) | (1,314) |
Cost / (Amortization) / (Impairment loss) | $ 4,613 | (357) | (1,314) |
Ending Balance | $ (4,613) | $ (4,256) |
CONCESSION ARRANGEMENTS RIGHT_6
CONCESSION ARRANGEMENTS RIGHTS - Intangible assets in concession arrangements - Additional information (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gas and Energy Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Borrowing costs capitalised | $ 31,672 | $ 26,134 | $ 13,856 |
Capitalized interest rate | 12.17% | 8.98% | 5.39% |
Concessions under construction | $ 130,936 | $ 193,627 | $ 669,540 |
Infrastructure Concession Arrangement [member] | |||
Disclosure of detailed information about service concession arrangements [line items] | |||
Concessions under construction | $ 7,833,886 | $ 7,136,073 | $ 6,266,955 |
CONCESSION ARRANGEMENTS RIGHT_7
CONCESSION ARRANGEMENTS RIGHTS - Summary of the main concession contracts (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Gas and Energy Concession Arrangement [member] | Surtigas S.A. E.S.P. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Transmetano E.S.P. S.A | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Promigas S.A. E.S.P. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Promioriente S.A. E.S.P | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Gases de Occidente S.A. E.S.P | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Compania Energetica de Occidente S.A. E.S.P. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Investment commitment, expansion, replacement and improvement of infrastructure, advance, percentage | 54.33% |
Gas and Energy Concession Arrangement [member] | Sociedad Portuaria El Cayao S.A. E.S.P | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Gases del Pacifico S.A.C | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Gas and Energy Concession Arrangement [member] | Gases del Norte del Peru S.A.C. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 85.84% |
Infrastructure Concession Arrangement [member] | Proyectos de Infraestructura S.A. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Infrastructure Concession Arrangement [member] | Concesiones CCFC S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Infrastructure Concession Arrangement [member] | Concesionaria Panamericana S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Infrastructure Concession Arrangement [member] | Concesionaria Vial Del Pacifico S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 95.93% |
Infrastructure Concession Arrangement [member] | Concesionaria Nueva Via del Mar S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 4.11% |
Infrastructure Concession Arrangement [member] | Concesionaria Vial Andina S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 100% |
Infrastructure Concession Arrangement [member] | Concesionaria Vial Del Oriente S.A.S. | |
Disclosure of detailed information about service concession arrangements [line items] | |
Percentage of progress of building | 92.41% |
GOODWILL - Roll forward - Tabul
GOODWILL - Roll forward - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Reconciliation of changes in goodwill [abstract] | ||
Balance at the beginning of the year | $ 2,248,217 | $ 8,486,560 |
Impairment charge | (10,000) | (12,257) |
Loss of control in subsidiary | (5,902,410) | |
Effect of movements in exchange rates | (35,995) | (323,676) |
Balance at the end of the year | $ 2,202,222 | $ 2,248,217 |
GOODWILL - Roll forward - Addit
GOODWILL - Roll forward - Additional information (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Effect of movements in exchange rates | $ (35,995) | $ (323,676) |
BAC Holding International Corp | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Effect of movements in exchange rates | (353,876) | |
Multi Financial Group Inc [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Effect of movements in exchange rates | $ (35,995) | $ 30,200 |
GOODWILL - Carrying amount (Det
GOODWILL - Carrying amount (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | $ 2,202,222 | $ 2,248,217 | $ 8,486,560 |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 538,231 | 538,231 | |
Banco de Bogota S.A. over Megabanco | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 465,905 | 465,905 | |
Banco Popular S.A. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 358,401 | 358,401 | |
Banco de Bogota S.A. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 301,222 | 301,222 | |
Banco de Bogota S.A. over Multi Financial Group Inc. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 139,226 | 175,221 | |
Promigas S.A. E.S.P. and Its Subsidiaries | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 169,687 | 169,687 | |
Banco de Occidente S.A. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 127,571 | 127,571 | |
Concesionaria Panamericana S.A.S. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 72,594 | 82,594 | |
Banco de Occidente S.A. over Banco Union | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | 22,724 | 22,724 | |
Hoteles Estelar S. A. | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill carrying amount | $ 6,661 | $ 6,661 |
GOODWILL - Cash-generating unit
GOODWILL - Cash-generating units - General information (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows | Such calculations used cash flow projections, covering periods from 5 to 20 years. | |
Impairment | $ 10,000 | $ 12,257 |
Bottom of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows, period | 5 years | |
Top of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows, period | 20 years | |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows | 13-years projection | |
Explanation of period over which management has projected cash flows, period | 13 years | |
Recoverable amount of asset or cash-generating unit | $ 9,666,524 | |
Exceeds the book value of cash generating-unit | $ 6,618,375 | |
Growth rate used to extrapolate cash flow projections | 3.10% | |
Increase decrease in discount rate applied to cash flow projections | 0.50% | |
Recoverable value if discount rate was 0.5% higher | $ 8,958,407 | |
Book value of cash-generating unit | $ 3,048,149 | |
Banco de Bogota S.A. over Megabanco | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows | 5-years projection | |
Explanation of period over which management has projected cash flows, period | 5 years | |
Recoverable amount of asset or cash-generating unit | $ 12,391,866 | |
Exceeds the book value of cash generating-unit | $ 6,039,628 | |
Growth rate used to extrapolate cash flow projections | 6.50% | |
Increase decrease in discount rate applied to cash flow projections | 0.50% | |
Recoverable value if discount rate was 0.5% higher | $ 11,213,891 | |
Book value of cash-generating unit | $ 6,352,238 | |
Banco Popular S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows | 5-years projection | |
Explanation of period over which management has projected cash flows, period | 5 years | |
Recoverable amount of asset or cash-generating unit | $ 3,776,691 | |
Exceeds the book value of cash generating-unit | $ 838,149 | |
Growth rate used to extrapolate cash flow projections | 6% | |
Increase decrease in discount rate applied to cash flow projections | 0.50% | |
Recoverable value if discount rate was 0.5% higher | $ 3,442,796 | |
Book value of cash-generating unit | $ 2,938,542 | |
Banco de Bogota S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Explanation of period over which management has projected cash flows | 5-years projection | |
Explanation of period over which management has projected cash flows, period | 5 years | |
Recoverable amount of asset or cash-generating unit | $ 14,060,477 | |
Exceeds the book value of cash generating-unit | $ 5,054,718 | |
Growth rate used to extrapolate cash flow projections | 6% | |
Increase decrease in discount rate applied to cash flow projections | 0.50% | |
Recoverable value if discount rate was 0.5% higher | $ 12,865,943 | |
Book value of cash-generating unit | 9,005,759 | |
Multi Financial Group Inc [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Recoverable amount of asset or cash-generating unit | 2,503,432 | |
Exceeds the book value of cash generating-unit | $ 829,630 | |
Growth rate used to extrapolate cash flow projections | 5.60% | |
Increase decrease in discount rate applied to cash flow projections | 0.50% | |
Recoverable value if discount rate was 0.5% higher | $ 2,273,792 | |
Book value of cash-generating unit | $ 1,673,802 |
GOODWILL - Cash-generating un_2
GOODWILL - Cash-generating units - Acquisitions (Details) | 7 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2023 | May 22, 2020 | |
Banco de Credito y Desarrollo Social [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired | 94.99% | ||
Banco Popular S.A. | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired | 93.74% | ||
Multi Financial Group Inc [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired | 99.60% | 96.60% | |
Percentage of additional voting equity interests | 2.97% |
GOODWILL - Cash-generating un_3
GOODWILL - Cash-generating units - Impairment test assumptions (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 3.10% | |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Not later than one year [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Interest rate on investments | 8.30% | 7.70% |
Borrowing rate | 5.80% | 5.80% |
Growth in income from commissions | 0.80% | (6.40%) |
Growth in expenses | 7.70% | (5.30%) |
Inflation | 5.80% | 7.40% |
Discount interest rate after taxes | 14.20% | 14.40% |
Growth rate used to extrapolate cash flow projections | 3.10% | 2.90% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Later than one year and not later than two years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Interest rate on investments | 6.40% | 4.50% |
Borrowing rate | 5.80% | 5.80% |
Growth in income from commissions | 48.50% | 55.60% |
Growth in expenses | 12.40% | 11.40% |
Inflation | 3.50% | 2.70% |
Discount interest rate after taxes | 11.50% | 9.50% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Later than two years and not later than three years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Interest rate on investments | 6.20% | 4.90% |
Borrowing rate | 5.80% | 5.80% |
Growth in income from commissions | 3.30% | 2.50% |
Growth in expenses | 7.10% | 7.20% |
Inflation | 3.20% | 2.90% |
Discount interest rate after taxes | 10.20% | 9% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Later than three years and not later than four years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Interest rate on investments | 6.10% | 4.90% |
Borrowing rate | 5.80% | 5.80% |
Growth in income from commissions | 4.90% | 2.30% |
Growth in expenses | 5.40% | 4.90% |
Inflation | 3.10% | 2.90% |
Discount interest rate after taxes | 9.10% | 8.20% |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | Later than four years and not later than five years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Interest rate on investments | 6% | 4.90% |
Borrowing rate | 5.80% | 5.80% |
Growth in income from commissions | 6.10% | 4.60% |
Growth in expenses | 5% | 4.50% |
Inflation | 3.10% | 2.90% |
Discount interest rate after taxes | 9.10% | 8.10% |
Banco de Bogota S.A. over Megabanco | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 6.50% | |
Banco de Bogota S.A. over Megabanco | Not later than one year [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 12.10% | 12.30% |
Borrowing rate | 7.10% | 6.90% |
Growth in income from commissions | 16% | 15.40% |
Growth in expenses | 11.70% | 14.60% |
Inflation | 5.80% | 7.40% |
Discount interest rate after taxes | 16.50% | 17.60% |
Growth rate used to extrapolate cash flow projections | 6.50% | 6.40% |
Banco de Bogota S.A. over Megabanco | Later than one year and not later than two years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.80% | 11.20% |
Borrowing rate | 5.50% | 5.40% |
Growth in income from commissions | 14.70% | 10.80% |
Growth in expenses | 8.30% | 8.20% |
Inflation | 3.50% | 2.70% |
Discount interest rate after taxes | 13.70% | 12.60% |
Banco de Bogota S.A. over Megabanco | Later than two years and not later than three years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.20% | 10.50% |
Borrowing rate | 4.90% | 4.60% |
Growth in income from commissions | 14.10% | 14.90% |
Growth in expenses | 7.90% | 8.20% |
Inflation | 3.20% | 2.90% |
Discount interest rate after taxes | 12.40% | 11.80% |
Banco de Bogota S.A. over Megabanco | Later than three years and not later than four years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10% | 10.40% |
Borrowing rate | 4.70% | 4.50% |
Growth in income from commissions | 11.30% | 15.30% |
Growth in expenses | 6.20% | 8.20% |
Inflation | 3.10% | 2.90% |
Discount interest rate after taxes | 11.30% | 10.90% |
Banco de Bogota S.A. over Megabanco | Later than four years and not later than five years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 9.80% | 10.20% |
Borrowing rate | 4.50% | 4.50% |
Growth in income from commissions | 11.20% | 15.30% |
Growth in expenses | 5.60% | 8.20% |
Inflation | 3.10% | 2.90% |
Discount interest rate after taxes | 11.60% | 10.70% |
Banco Popular S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 6% | |
Banco Popular S.A. | Not later than one year [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 12.50% | 12.90% |
Borrowing rate | 8.20% | 9.20% |
Growth in income from commissions | 6.80% | 6.10% |
Growth in expenses | 8.30% | 13.20% |
Inflation | 7.20% | 7.40% |
Discount interest rate after taxes | 17.30% | 17.60% |
Growth rate used to extrapolate cash flow projections | 6% | 6.40% |
Banco Popular S.A. | Later than one year and not later than two years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 12.30% | 12.60% |
Borrowing rate | 6.10% | 7.40% |
Growth in income from commissions | 3.40% | 11.40% |
Growth in expenses | (13.20%) | 6.60% |
Inflation | 3.80% | 2.70% |
Discount interest rate after taxes | 13.60% | 12.60% |
Banco Popular S.A. | Later than two years and not later than three years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 12% | 10.90% |
Borrowing rate | 5.20% | 5.80% |
Growth in income from commissions | 16.50% | 16.70% |
Growth in expenses | 1.50% | 7.50% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 12% | 11.80% |
Banco Popular S.A. | Later than three years and not later than four years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 11.60% | 10.90% |
Borrowing rate | 4.70% | 5.20% |
Growth in income from commissions | 6.80% | 11.30% |
Growth in expenses | 7.70% | 7.60% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 11.40% | 10.90% |
Banco Popular S.A. | Later than four years and not later than five years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.90% | 10.90% |
Borrowing rate | 4.10% | 4.80% |
Growth in income from commissions | 6.50% | 8.40% |
Growth in expenses | 7.50% | 6.80% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 11.60% | 10.70% |
Banco de Bogota S.A. | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 6% | |
Banco de Bogota S.A. | Not later than one year [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 12.90% | 12.90% |
Borrowing rate | 7.20% | 6.90% |
Growth in income from commissions | (3.40%) | 16.70% |
Growth in expenses | 9.50% | 15.90% |
Inflation | 7.20% | 7.40% |
Discount interest rate after taxes | 17.30% | 17.60% |
Growth rate used to extrapolate cash flow projections | 6% | 6.40% |
Banco de Bogota S.A. | Later than one year and not later than two years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 11.20% | 11.70% |
Borrowing rate | 5.60% | 5.30% |
Growth in income from commissions | 14.20% | 11.50% |
Growth in expenses | 8.70% | 9.80% |
Inflation | 3.80% | 2.70% |
Discount interest rate after taxes | 13.60% | 12.60% |
Banco de Bogota S.A. | Later than two years and not later than three years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.50% | 11% |
Borrowing rate | 4.90% | 4.60% |
Growth in income from commissions | 14.30% | 13.80% |
Growth in expenses | 8.40% | 9.80% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 12.10% | 11.80% |
Banco de Bogota S.A. | Later than three years and not later than four years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.30% | 10.80% |
Borrowing rate | 4.70% | 4.60% |
Growth in income from commissions | 11.70% | 14.40% |
Growth in expenses | 6.90% | 9.70% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 11.40% | 10.90% |
Banco de Bogota S.A. | Later than four years and not later than five years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 10.10% | 10.60% |
Borrowing rate | 4.60% | 4.50% |
Growth in income from commissions | 11% | 13.70% |
Growth in expenses | 5.10% | 6% |
Inflation | 3% | 2.90% |
Discount interest rate after taxes | 11.70% | 10.70% |
Multi Financial Group Inc [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 5.60% | |
Multi Financial Group Inc [member] | Not later than one year [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 6.90% | 6.40% |
Borrowing rate | 4.80% | 4% |
Growth in income from commissions | (22.00%) | 9.40% |
Growth in expenses | (1.60%) | 4.50% |
Discount interest rate after taxes | 11.30% | 10.60% |
Growth rate used to extrapolate cash flow projections | 5.60% | 4% |
Multi Financial Group Inc [member] | Later than one year and not later than two years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 6.90% | 6.60% |
Borrowing rate | 4.40% | 4% |
Growth in income from commissions | 8.60% | 7.20% |
Growth in expenses | 2.10% | 3% |
Multi Financial Group Inc [member] | Later than two years and not later than three years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 6.90% | 6.80% |
Borrowing rate | 4.30% | 4% |
Growth in income from commissions | 12.60% | 8.90% |
Growth in expenses | 1.40% | 2.80% |
Multi Financial Group Inc [member] | Later than three years and not later than four years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 6.90% | 6.90% |
Borrowing rate | 4.20% | 4.10% |
Growth in income from commissions | 11.70% | 9.40% |
Growth in expenses | 2.60% | 1.90% |
Multi Financial Group Inc [member] | Later than four years and not later than five years [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Lending rate on the loan portfolio and investments | 6.90% | 7% |
Borrowing rate | 4.20% | 4.10% |
Growth in income from commissions | 11.90% | 8.70% |
Growth in expenses | 3% | 3.10% |
OTHER INTANGIBLE ASSETS (Detail
OTHER INTANGIBLE ASSETS (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | $ 2,040,158 | $ 1,886,042 | $ 1,623,670 |
Capitalizations / Acquisitions / Purchases | 682,696 | 599,678 | 482,528 |
Amortization | (277,022) | (257,917) | (237,628) |
Impairment loss | (3,000) | ||
Withdrawals | (13,206) | (5,000) | (18,706) |
Arrangement of entities | (14,792) | ||
Discontinued operations | (23,239) | (77,335) | |
Reclassification BAC | (190,970) | 93,639 | |
Effect of movements in exchange rates | (35,407) | 31,564 | 22,874 |
Ending Balance | 2,382,427 | 2,040,158 | 1,886,042 |
Internally Generated - Developing | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 789,686 | 563,261 | 473,204 |
Capitalizations / Acquisitions / Purchases | 629,807 | 494,055 | 376,344 |
Transfers | (191,381) | (252,193) | (290,425) |
Withdrawals | (11,244) | (3,619) | (9,962) |
Arrangement of entities | (14,333) | ||
Discontinued operations | 13,538 | ||
Reclassification BAC | (13,538) | ||
Effect of movements in exchange rates | (1,092) | 1,720 | 562 |
Ending Balance | 1,201,443 | 789,686 | 563,261 |
Internally Generated - In Use | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 463,960 | 378,956 | 227,555 |
Amortization | (89,949) | (70,538) | (44,916) |
Transfers | 111,365 | 155,588 | 197,235 |
Withdrawals | (46) | (918) | |
Ending Balance | 485,376 | 463,960 | 378,956 |
Separate acquisition | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 786,512 | 943,825 | 922,911 |
Capitalizations / Acquisitions / Purchases | 52,889 | 105,623 | 106,184 |
Amortization | (187,073) | (187,379) | (192,712) |
Impairment loss | (3,000) | ||
Transfers | 80,016 | 96,605 | 93,190 |
Withdrawals | (1,962) | (1,335) | (7,826) |
Arrangement of entities | (459) | ||
Discontinued operations | (23,239) | (90,873) | |
Reclassification BAC | (177,432) | 93,639 | |
Effect of movements in exchange rates | (34,315) | 29,844 | 22,312 |
Ending Balance | $ 695,608 | $ 786,512 | $ 943,825 |
INCOME TAX - Components of inco
INCOME TAX - Components of income tax expense (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of income tax [abstract] | |||
Current period income tax | $ 1,017,411 | $ 822,758 | $ 1,075,407 |
Income tax surcharge | 27,627 | 15,625 | 60,730 |
Subtotal current period taxes | 1,045,038 | 838,383 | 1,136,137 |
Prior years adjustments | (20,491) | (35,553) | (102,937) |
Adjustment due to settlement of uncertain tax positions form prior years | (772) | (6,802) | (933) |
Deferred taxes current period | 286,824 | 1,467,519 | 1,256,588 |
Deferred taxes - Prior years adjustments | (165) | 7,857 | 34,573 |
Subtotal deferred taxes | 286,659 | 1,475,376 | 1,291,161 |
Total tax expense | $ 1,310,434 | $ 2,271,404 | $ 2,323,428 |
INCOME TAX - Reconciliation bet
INCOME TAX - Reconciliation between total expenses of income tax and tax expense - General information (Details) - item | 12 Months Ended | ||||||
Dec. 31, 2027 | Dec. 31, 2026 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 40% | 38% | 34% | ||||
Dividend withholding tax rate | 10% | 7.50% | |||||
Bottom of range [member] | |||||||
Disclosure of income tax [line items] | |||||||
Required percentage of increase in net income tax to get audit benefit | 25% | 25% | |||||
Top of range [member] | |||||||
Disclosure of income tax [line items] | |||||||
Required percentage of increase in net income tax to get audit benefit | 35% | 35% | |||||
Colombia | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 35% | 35% | 31% | ||||
Tax rate of special free zone | 20% | 20% | 20% | ||||
Probability percentage of industry and commerce tax paid | 100% | ||||||
Colombia | Forecast [Member] | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 35% | ||||||
Colombia | Surcharge | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 5% | 3% | 3% | ||||
Colombia | Surcharge | Forecast [Member] | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 5% | 5% | 5% | 5% | |||
Tax value unit (UVT) | 120,000 | ||||||
Colombia | Capital gain Tax | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 15% | 10% | 10% | ||||
Panama | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 25% | 25% | 25% | ||||
Panama | BAC Holding International Corp | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 0% | 0% | 0% | ||||
Peru | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 29.50% | 29.50% | 29.50% | ||||
Barbados | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 4.25% | 4.25% | |||||
Guatemala | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 25% | ||||||
El Salvador | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 30% | ||||||
Honduras | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 30% | ||||||
Costa Rica | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 30% | ||||||
Nicaragua | |||||||
Disclosure of income tax [line items] | |||||||
Applicable tax rate (as a percent) | 30% |
INCOME TAX - Reconciliation b_2
INCOME TAX - Reconciliation between total expenses of income tax and tax expense - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of income tax [line items] | |||
Profit before income tax | $ 3,487,550 | $ 6,274,371 | $ 6,364,618 |
Enacted tax rate | 40% | 38% | 34% |
Theoretical income tax expense | $ 1,395,020 | $ 2,384,261 | $ 2,163,970 |
Non deductible expenses | 872,723 | 465,986 | 378,301 |
Tax losses considered non recoverable for income tax purpose | 71,741 | 192,470 | 9,480 |
Presumptive income considered non recoverable for income tax purpose | (23) | (7,666) | (7,845) |
Nontaxable dividends | (47,242) | (40,420) | (51,334) |
Nontaxable income under equity method in associates | (150,626) | (141,655) | (111,736) |
Profit (loss) on sales or appraisal of investment | (5,009) | (439) | (695) |
Nontaxable interest income and other income | (274,758) | (281,715) | (133,711) |
Other nontaxable income | (182,121) | (578,592) | (283,755) |
Non-accountable tax revenues in Sale of BHI | 114,201 | 543,879 | |
Revenues taxable by different tax rate | 47,139 | 9,218 | 1,453 |
Tax benefits in the acquisition of property and equipment | (32,493) | (34,018) | (22,431) |
Tax discounts | (25,086) | (80,804) | (91,829) |
Profits (losses) in Subsidiaries in tax free countries or with different tax rate | (246,999) | (188,701) | (55,366) |
Effect on the deferred income tax due to changes in tax rates | (176,764) | 56,129 | 587,939 |
Prior years adjustments | (20,491) | (35,553) | (102,937) |
Adjustments due to uncertain tax positions in previous year | (772) | (6,802) | (933) |
Deferred taxes - Prior years adjustments | (165) | 7,857 | 34,573 |
Withholding Tax | 9,479 | 654 | 4,399 |
Other | (37,320) | 7,315 | 5,885 |
Total tax expense | $ 1,310,434 | $ 2,271,404 | $ 2,323,428 |
Effective income tax rate | 37.57% | 36.20% | 36.51% |
Tax losses on which no deferred tax asset recorded | $ 71,741 | $ 192,470 | $ 9,480 |
Deferred tax rate (as a percent) | 35% | ||
Statutory tax rate (as a percent) | 36% | ||
Banco de Bogota S.A. | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | $ (262,901) | ||
Banco de Occidente S.A. | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | $ (36,523) | ||
Banco Popular S.A. | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | (57,700) | ||
Corficolombiana | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | (87,085) | $ (133,329) | |
Rent surcharge rate | 4% | ||
Other entities | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | $ (7,611) | ||
Nexa , Barbados And Other Subsidiaries | |||
Disclosure of income tax [line items] | |||
Effect on the deferred income tax due to changes in tax rates | $ 4,544 | ||
Costa Rica | |||
Disclosure of income tax [line items] | |||
Enacted tax rate | 30% |
INCOME TAX - Tax losses and exc
INCOME TAX - Tax losses and excess of presumptive income (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | $ 1,993,196 | $ 1,629,254 |
Excess of presumptive income not recognized as deferred tax assets | 34,525 | 75,529 |
Tax loss carry forwards and excess of presumptive income not recognized as deferred tax assets | 2,027,721 | 1,704,783 |
Not later than one year [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 4,902 | 1,323 |
Excess of presumptive income not recognized as deferred tax assets | 26,883 | 44,246 |
Later than one year and not later than two years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 2,179 | 4,846 |
Excess of presumptive income not recognized as deferred tax assets | 7,642 | 24,492 |
Later than two years and not later than three years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 5,908 | 2,748 |
Excess of presumptive income not recognized as deferred tax assets | 6,791 | |
Later than three years and not later than four years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 40 | |
Later than five years and not later than six years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 173,448 | |
Later than six years and not later than seven years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 289,982 | 170,835 |
Later than seven years and not later than eight years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 248,444 | 279,605 |
Later than eight years and not later than nine years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 169,572 | 215,970 |
Later than nine years and not later than ten years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 37,969 | 15,799 |
Later than ten years and not later than eleven years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 262,578 | 6,931 |
Later than eleven years and not later than twelve years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 383,897 | 516,801 |
Later than twelve years and not later than thirteen years [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | 122 | |
Without expiration date [member] | ||
Disclosure of income tax [line items] | ||
Tax loss carry forwards not recognized as deferred tax assets | $ 414,318 | $ 414,234 |
INCOME TAX - Deferred taxes fro
INCOME TAX - Deferred taxes from investments in subsidiaries (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of income tax [abstract] | ||
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | $ 8,955,318 | $ 8,981,905 |
INCOME TAX - Deferred taxes by
INCOME TAX - Deferred taxes by type of temporary difference (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | $ (3,211,452) | $ (2,567,101) | $ (2,320,272) |
Loss of control in a subsidiary | 1,824,892 | ||
Discontinued operations | (3,073) | ||
Business combinations | (11,995) | ||
Credited (charged) to profit or loss | (286,659) | (1,475,376) | (1,291,161) |
Credited (charged) to OCI | (814,151) | (955,530) | 1,054,017 |
Foreign exchange adjustments | 46,534 | (35,264) | 2,310 |
Deferred tax (liabilities) assets at the end of the period | (4,265,728) | (3,211,452) | (2,567,101) |
Deferred tax assets [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 7,669,219 | 6,171,791 | 4,166,160 |
Loss of control in a subsidiary | 1,242,536 | ||
Discontinued operations | 3,732 | ||
Business combinations | (80,217) | ||
Credited (charged) to profit or loss | (165,274) | 1,086,280 | 972,958 |
Credited (charged) to OCI | (859,370) | (901,158) | 1,080,546 |
Foreign exchange adjustments | (1,754) | 66,038 | 32,344 |
Deferred tax (liabilities) assets at the end of the period | 6,642,821 | 7,669,219 | 6,171,791 |
Deferred tax assets [member] | Debt securities at fair value [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 857,505 | 385,338 | 28,230 |
Loss of control in a subsidiary | (73,729) | ||
Discontinued operations | 6,567 | ||
Business combinations | (9,022) | ||
Credited (charged) to profit or loss | (64,839) | 4,195 | 30,408 |
Credited (charged) to OCI | (520,770) | 537,052 | 350,014 |
Foreign exchange adjustments | (252) | (1,918) | (14,292) |
Deferred tax (liabilities) assets at the end of the period | 271,644 | 857,505 | 385,338 |
Deferred tax assets [member] | Equity securities at fair value [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 165 | 1,028 | 275 |
Credited (charged) to profit or loss | 1,245 | (4,371) | 753 |
Credited (charged) to OCI | 3,508 | ||
Deferred tax (liabilities) assets at the end of the period | 1,410 | 165 | 1,028 |
Deferred tax assets [member] | Derivative instruments [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 452,394 | 699,311 | 609,930 |
Loss of control in a subsidiary | 818,130 | ||
Credited (charged) to profit or loss | 674,733 | (296,033) | (216,846) |
Credited (charged) to OCI | 9,793 | (768,615) | 308,831 |
Foreign exchange adjustments | 3,001 | (399) | (2,604) |
Deferred tax (liabilities) assets at the end of the period | 1,139,921 | 452,394 | 699,311 |
Deferred tax assets [member] | Allowance Of Investments Securities [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 1,468 | 1,155 | 562 |
Credited (charged) to profit or loss | (1,468) | 313 | 593 |
Deferred tax (liabilities) assets at the end of the period | 1,468 | 1,155 | |
Deferred tax assets [member] | Accounts receivables [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 258,765 | 146,496 | 45,324 |
Credited (charged) to profit or loss | (168,647) | 111,687 | 101,221 |
Foreign exchange adjustments | (52) | 582 | (49) |
Deferred tax (liabilities) assets at the end of the period | 90,066 | 258,765 | 146,496 |
Deferred tax assets [member] | Allowance for Accounts Receivable [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 80,839 | 59,604 | 47,181 |
Credited (charged) to profit or loss | (71,334) | 20,489 | 12,423 |
Foreign exchange adjustments | 342 | 746 | |
Deferred tax (liabilities) assets at the end of the period | 9,847 | 80,839 | 59,604 |
Deferred tax assets [member] | Loans and receivables [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 905 | 1,157 | 3,623 |
Credited (charged) to profit or loss | 3,674 | (252) | (29) |
Foreign exchange adjustments | (9) | (2,437) | |
Deferred tax (liabilities) assets at the end of the period | 4,570 | 905 | 1,157 |
Deferred tax assets [member] | Allowance for impairment on loans and receivables [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 292,841 | 562,730 | 448,793 |
Loss of control in a subsidiary | (303,273) | ||
Discontinued operations | 2,425 | ||
Business combinations | (22,037) | ||
Credited (charged) to profit or loss | (33,103) | (3,091) | 76,976 |
Credited (charged) to OCI | 18,952 | ||
Foreign exchange adjustments | (40,463) | 15,098 | 58,998 |
Deferred tax (liabilities) assets at the end of the period | 219,275 | 292,841 | 562,730 |
Deferred tax assets [member] | Allowance for foreclosed assets | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 8,750 | 21,082 | 10,169 |
Loss of control in a subsidiary | (13,173) | ||
Discontinued operations | 556 | ||
Business combinations | 9,977 | ||
Credited (charged) to profit or loss | (3,216) | (170) | (1,219) |
Foreign exchange adjustments | (1,054) | 455 | 2,155 |
Deferred tax (liabilities) assets at the end of the period | 4,480 | 8,750 | 21,082 |
Deferred tax assets [member] | Property, plant and equipment [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 349,485 | 339,049 | 323,544 |
Credited (charged) to profit or loss | 121,098 | (30,500) | 15,505 |
Foreign exchange adjustments | (96) | 40,936 | |
Deferred tax (liabilities) assets at the end of the period | 470,487 | 349,485 | 339,049 |
Deferred tax assets [member] | Depreciation of property, plant and equipment [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 18,018 | 34,614 | 32,154 |
Credited (charged) to profit or loss | (39,387) | (16,022) | 2,401 |
Foreign exchange adjustments | 44,879 | (574) | 59 |
Deferred tax (liabilities) assets at the end of the period | 23,510 | 18,018 | 34,614 |
Deferred tax assets [member] | Investment property [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 31,061 | 30,021 | 25,461 |
Credited (charged) to profit or loss | (31,061) | 1,323 | 4,481 |
Credited (charged) to OCI | (283) | 79 | |
Deferred tax (liabilities) assets at the end of the period | 31,061 | 30,021 | |
Deferred tax assets [member] | Deferred charges and of intangible assets | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 237,436 | 243,170 | 214,669 |
Credited (charged) to profit or loss | 61,968 | (5,734) | 28,501 |
Foreign exchange adjustments | 29 | ||
Deferred tax (liabilities) assets at the end of the period | 299,433 | 237,436 | 243,170 |
Deferred tax assets [member] | Tax losses carry forward [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 272,020 | 117,025 | 86,558 |
Business combinations | (52) | ||
Credited (charged) to profit or loss | 778,311 | 142,435 | 39,001 |
Foreign exchange adjustments | 5,049 | 12,560 | (8,482) |
Deferred tax (liabilities) assets at the end of the period | 1,055,380 | 272,020 | 117,025 |
Deferred tax assets [member] | Surplus of presumptive income [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 18,350 | 4,351 | 6,071 |
Credited (charged) to profit or loss | (16,044) | 13,876 | (1,720) |
Foreign exchange adjustments | 123 | ||
Deferred tax (liabilities) assets at the end of the period | 2,306 | 18,350 | 4,351 |
Deferred tax assets [member] | Provisions [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 326,889 | 324,063 | 220,822 |
Loss of control in a subsidiary | (28,108) | ||
Discontinued operations | (1,779) | ||
Business combinations | 2,465 | ||
Credited (charged) to profit or loss | 23,237 | 32,570 | 96,428 |
Foreign exchange adjustments | (14,532) | 143 | 4,348 |
Deferred tax (liabilities) assets at the end of the period | 335,594 | 326,889 | 324,063 |
Deferred tax assets [member] | Employee benefits [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 73,732 | 102,662 | 123,700 |
Loss of control in a subsidiary | (11,440) | ||
Discontinued operations | (1,736) | ||
Business combinations | 2,509 | ||
Credited (charged) to profit or loss | (25,676) | 15,523 | (6,884) |
Credited (charged) to OCI | 14,386 | (29,818) | (19,635) |
Foreign exchange adjustments | (737) | (1,459) | 2,972 |
Deferred tax (liabilities) assets at the end of the period | 61,705 | 73,732 | 102,662 |
Deferred tax assets [member] | Goodwill [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 423 | ||
Credited (charged) to profit or loss | (423) | ||
Deferred tax assets [member] | Financial Assets In Concession Arrangement [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 1,585,925 | 1,368,490 | 884,158 |
Credited (charged) to profit or loss | (333,025) | 217,435 | 484,332 |
Foreign exchange adjustments | (10,059) | ||
Deferred tax (liabilities) assets at the end of the period | 1,242,841 | 1,585,925 | 1,368,490 |
Deferred tax assets [member] | Biological assets [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 167 | 101 | 104 |
Credited (charged) to profit or loss | (17) | 66 | (3) |
Deferred tax (liabilities) assets at the end of the period | 150 | 167 | 101 |
Deferred tax assets [member] | Lease agreement [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 619,032 | 693,388 | 609,701 |
Loss of control in a subsidiary | (151,767) | ||
Discontinued operations | (2,301) | ||
Business combinations | (58,498) | ||
Credited (charged) to profit or loss | 16,044 | 83,544 | 114,505 |
Foreign exchange adjustments | (15,625) | (3,832) | 27,680 |
Deferred tax (liabilities) assets at the end of the period | 619,451 | 619,032 | 693,388 |
Deferred tax assets [member] | Foreign currency bonds [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 1,421,540 | 720,109 | 267,668 |
Loss of control in a subsidiary | 1,005,896 | ||
Credited (charged) to profit or loss | (620,538) | 378,971 | 29,792 |
Credited (charged) to OCI | (273,608) | (683,436) | 422,649 |
Deferred tax (liabilities) assets at the end of the period | 527,394 | 1,421,540 | 720,109 |
Deferred tax assets [member] | Foreign Currency Financial Liabilities [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 365,565 | 83,072 | |
Credited (charged) to profit or loss | (365,565) | 282,493 | 83,072 |
Deferred tax (liabilities) assets at the end of the period | 365,565 | 83,072 | |
Deferred tax assets [member] | Other [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | 396,367 | 233,775 | 177,040 |
Business combinations | (5,559) | ||
Credited (charged) to profit or loss | (71,664) | 137,533 | 79,690 |
Credited (charged) to OCI | (89,171) | 21,482 | 18,608 |
Foreign exchange adjustments | 27,825 | 3,577 | (36,004) |
Deferred tax (liabilities) assets at the end of the period | 263,357 | 396,367 | 233,775 |
Deferred tax liabilities [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (10,880,671) | (8,738,892) | (6,486,432) |
Loss of control in a subsidiary | 582,356 | ||
Discontinued operations | (6,805) | ||
Business combinations | 68,222 | ||
Credited (charged) to profit or loss | (121,385) | (2,561,656) | (2,264,119) |
Credited (charged) to OCI | 45,219 | (54,372) | (26,529) |
Foreign exchange adjustments | 48,288 | (101,302) | (30,034) |
Deferred tax (liabilities) assets at the end of the period | (10,908,549) | (10,880,671) | (8,738,892) |
Deferred tax liabilities [member] | Debt securities at fair value [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (3,568) | (73,895) | (111,742) |
Loss of control in a subsidiary | 103,081 | ||
Discontinued operations | (7,060) | ||
Business combinations | 11,417 | ||
Credited (charged) to profit or loss | (5,673) | (24,749) | (2,155) |
Credited (charged) to OCI | (5,346) | 22 | (3,767) |
Foreign exchange adjustments | 77 | (967) | 32,352 |
Deferred tax (liabilities) assets at the end of the period | (14,510) | (3,568) | (73,895) |
Deferred tax liabilities [member] | Equity securities at fair value [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (172,559) | (253,422) | (203,826) |
Loss of control in a subsidiary | 135,876 | ||
Discontinued operations | 5,910 | ||
Business combinations | (30,213) | ||
Credited (charged) to profit or loss | (32,989) | (26,573) | 12,776 |
Credited (charged) to OCI | 3,542 | (42,746) | (20,075) |
Foreign exchange adjustments | (175) | 8,396 | (12,084) |
Deferred tax (liabilities) assets at the end of the period | (202,181) | (172,559) | (253,422) |
Deferred tax liabilities [member] | Derivative instruments [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (663,726) | (32,668) | (13,194) |
Credited (charged) to profit or loss | 8,847 | (631,300) | (15,724) |
Credited (charged) to OCI | 286 | (3,722) | |
Foreign exchange adjustments | (438) | (44) | (28) |
Deferred tax (liabilities) assets at the end of the period | (655,317) | (663,726) | (32,668) |
Deferred tax liabilities [member] | Allowance Of Investments Securities [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (2,577) | (1,421) | (1,805) |
Discontinued operations | (7,772) | ||
Credited (charged) to profit or loss | 2,155 | 6,616 | 384 |
Deferred tax (liabilities) assets at the end of the period | (422) | (2,577) | (1,421) |
Deferred tax liabilities [member] | Accounts receivables [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (257,754) | (177,642) | (115,071) |
Credited (charged) to profit or loss | 225,450 | (80,114) | (62,571) |
Foreign exchange adjustments | (25) | 2 | |
Deferred tax (liabilities) assets at the end of the period | (32,329) | (257,754) | (177,642) |
Deferred tax liabilities [member] | Loans and receivables [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (37,469) | (29,531) | (27,042) |
Credited (charged) to profit or loss | 12,636 | (7,938) | (2,489) |
Deferred tax (liabilities) assets at the end of the period | (24,833) | (37,469) | (29,531) |
Deferred tax liabilities [member] | Allowance for impairment on loans and receivables [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (700,024) | (612,925) | (399,561) |
Loss of control in a subsidiary | 112,665 | ||
Business combinations | 39,495 | ||
Credited (charged) to profit or loss | 29,937 | (199,764) | (233,328) |
Foreign exchange adjustments | 13,931 | (19,531) | |
Deferred tax (liabilities) assets at the end of the period | (656,156) | (700,024) | (612,925) |
Deferred tax liabilities [member] | Foreclosed assets [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (75,396) | (65,167) | (60,161) |
Credited (charged) to profit or loss | 25,870 | (10,229) | (5,006) |
Deferred tax (liabilities) assets at the end of the period | (49,526) | (75,396) | (65,167) |
Deferred tax liabilities [member] | Property, plant and equipment [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (234,385) | (283,593) | (270,327) |
Loss of control in a subsidiary | 60,039 | ||
Discontinued operations | 1,942 | ||
Business combinations | 1,287 | ||
Credited (charged) to profit or loss | 4,968 | (10,472) | (4,747) |
Credited (charged) to OCI | 1,051 | ||
Foreign exchange adjustments | 1,748 | (2,301) | (9,806) |
Deferred tax (liabilities) assets at the end of the period | (226,618) | (234,385) | (283,593) |
Deferred tax liabilities [member] | Depreciation of property, plant and equipment [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (462,695) | (410,226) | (338,964) |
Credited (charged) to profit or loss | (27,481) | (49,811) | (71,262) |
Foreign exchange adjustments | 1,080 | (2,658) | |
Deferred tax (liabilities) assets at the end of the period | (489,096) | (462,695) | (410,226) |
Deferred tax liabilities [member] | Right-of-use [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (314,062) | (437,169) | (422,659) |
Loss of control in a subsidiary | 133,232 | ||
Discontinued operations | 1,586 | ||
Business combinations | 55,215 | ||
Credited (charged) to profit or loss | 35,513 | (19,367) | (53,689) |
Foreign exchange adjustments | 2,125 | 7,656 | (16,036) |
Deferred tax (liabilities) assets at the end of the period | (276,424) | (314,062) | (437,169) |
Deferred tax liabilities [member] | Investment property [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (97,608) | (96,342) | (79,571) |
Credited (charged) to profit or loss | 51,362 | (330) | (16,694) |
Credited (charged) to OCI | (863) | ||
Foreign exchange adjustments | 112 | (73) | (77) |
Deferred tax (liabilities) assets at the end of the period | (46,134) | (97,608) | (96,342) |
Deferred tax liabilities [member] | Deferred charges and of intangible assets | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (326,052) | (320,906) | (263,802) |
Loss of control in a subsidiary | 315 | ||
Discontinued operations | (3) | ||
Business combinations | (1,689) | ||
Credited (charged) to profit or loss | (94,613) | (1,838) | (51,826) |
Foreign exchange adjustments | 2,885 | (3,620) | (3,589) |
Deferred tax (liabilities) assets at the end of the period | (417,780) | (326,052) | (320,906) |
Deferred tax liabilities [member] | Provisions [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (3,474) | (16,542) | (21,766) |
Loss of control in a subsidiary | 11,252 | ||
Discontinued operations | 1,231 | ||
Business combinations | 6,059 | ||
Credited (charged) to profit or loss | (619) | 1,315 | 1,503 |
Foreign exchange adjustments | 433 | (730) | (2,338) |
Deferred tax (liabilities) assets at the end of the period | (3,660) | (3,474) | (16,542) |
Deferred tax liabilities [member] | Employee benefits [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (24,321) | (41,367) | (30,851) |
Loss of control in a subsidiary | 39,124 | ||
Discontinued operations | (1,578) | ||
Business combinations | (9,143) | ||
Credited (charged) to profit or loss | 23,050 | (22,395) | 200 |
Credited (charged) to OCI | 710 | (550) | 3,686 |
Foreign exchange adjustments | 114 | 2,445 | (5,259) |
Deferred tax (liabilities) assets at the end of the period | (447) | (24,321) | (41,367) |
Deferred tax liabilities [member] | Goodwill [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (326,661) | (327,070) | (253,223) |
Credited (charged) to profit or loss | 409 | (73,847) | |
Deferred tax (liabilities) assets at the end of the period | (326,661) | (326,661) | (327,070) |
Deferred tax liabilities [member] | Deferred income [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (1,027,577) | (917,159) | (638,438) |
Credited (charged) to profit or loss | (281,375) | (110,418) | (278,721) |
Deferred tax (liabilities) assets at the end of the period | (1,308,952) | (1,027,577) | (917,159) |
Deferred tax liabilities [member] | Financial Assets In Concession Arrangement [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (197,679) | (175,332) | (149,928) |
Credited (charged) to profit or loss | (6,957) | 31,036 | (25,404) |
Foreign exchange adjustments | (53,383) | ||
Deferred tax (liabilities) assets at the end of the period | (204,636) | (197,679) | (175,332) |
Deferred tax liabilities [member] | Intangible Assets In Concession Arrangements [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (5,348,922) | (3,994,977) | (2,537,348) |
Credited (charged) to profit or loss | 140,818 | (1,292,165) | (1,451,262) |
Foreign exchange adjustments | 32,807 | (61,780) | (6,367) |
Deferred tax (liabilities) assets at the end of the period | (5,175,297) | (5,348,922) | (3,994,977) |
Deferred tax liabilities [member] | Biological assets [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (63,378) | (45,827) | (31,194) |
Credited (charged) to profit or loss | (5,373) | (17,551) | (14,633) |
Deferred tax (liabilities) assets at the end of the period | (68,751) | (63,378) | (45,827) |
Deferred tax liabilities [member] | Lease agreement [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (346,541) | (317,539) | (279,347) |
Credited (charged) to profit or loss | (35,077) | (28,992) | (29,017) |
Foreign exchange adjustments | (10) | (9,175) | |
Deferred tax (liabilities) assets at the end of the period | (381,618) | (346,541) | (317,539) |
Deferred tax liabilities [member] | Foreign Currency Financial Liabilities [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (39,573) | ||
Credited (charged) to profit or loss | (312,319) | 39,573 | |
Credited (charged) to OCI | 45,229 | ||
Deferred tax (liabilities) assets at the end of the period | (267,090) | ||
Deferred tax liabilities [member] | Other [member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (194,243) | (91,651) | (186,651) |
Loss of control in a subsidiary | (26,045) | ||
Discontinued operations | (3,680) | ||
Credited (charged) to profit or loss | 120,485 | (67,027) | 73,820 |
Credited (charged) to OCI | 33 | (10,521) | (2,651) |
Foreign exchange adjustments | (6,386) | 4,681 | 23,831 |
Deferred tax (liabilities) assets at the end of the period | $ (80,111) | (194,243) | (91,651) |
Deferred tax liabilities [member] | Provision for foreclosed assets [Member] | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred tax (liabilities) assets at the beginning of the period | (16,521) | (10,388) | |
Loss of control in a subsidiary | 12,817 | ||
Discontinued operations | 2,619 | ||
Business combinations | (4,206) | ||
Credited (charged) to profit or loss | 1 | ||
Foreign exchange adjustments | $ 1,084 | (1,927) | |
Deferred tax (liabilities) assets at the end of the period | $ (16,521) |
INCOME TAX - Deferred tax asset
INCOME TAX - Deferred tax assets and liabilities - Gross deferred tax and offset (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | $ (4,265,728) | $ (3,211,452) | $ (2,567,101) | $ (2,320,272) |
Deferred tax assets [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | 6,642,821 | 7,669,219 | 6,171,791 | 4,166,160 |
Deferred tax liability (asset), net, offset | (5,361,909) | (5,818,001) | ||
Deferred tax liabilities [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | (10,908,549) | (10,880,671) | $ (8,738,892) | $ (6,486,432) |
Deferred tax liability (asset), net, offset | $ 5,361,909 | $ 5,818,001 |
INCOME TAX - Deferred tax ass_2
INCOME TAX - Deferred tax assets and liabilities - Statement of financial position (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax asset, balances on statement of financial position | $ 1,280,912 | $ 1,851,218 | ||
Deferred tax liability, balances on statement of financial position | (5,546,640) | (5,062,670) | ||
Net | $ (4,265,728) | $ (3,211,452) | $ (2,567,101) | $ (2,320,272) |
INCOME TAX - Estimates to recov
INCOME TAX - Estimates to recover income tax assets and settle income tax liabilities - Deferred tax (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | $ (4,265,728) | $ (3,211,452) | $ (2,567,101) | $ (2,320,272) |
Deferred tax assets [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | 6,642,821 | 7,669,219 | 6,171,791 | 4,166,160 |
Deferred tax assets [member] | Later than one year [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | 4,922,586 | 5,656,771 | ||
Deferred tax assets [member] | Not later than one year [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | 1,720,235 | 2,012,448 | ||
Deferred tax liabilities [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | (10,908,549) | (10,880,671) | $ (8,738,892) | $ (6,486,432) |
Deferred tax liabilities [member] | Later than one year [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | (9,909,062) | (9,560,077) | ||
Deferred tax liabilities [member] | Not later than one year [member] | ||||
Deferred tax assets and liabilities [abstract] | ||||
Deferred tax (liability) asset, net | $ (999,487) | $ (1,320,594) |
INCOME TAX - Estimates to rec_2
INCOME TAX - Estimates to recover income tax assets and settle income tax liabilities - Current tax (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of income tax [line items] | ||
Current tax asset | $ 2,596,837 | $ 1,782,658 |
Current tax liability | (268,347) | (228,817) |
Later than one year [member] | ||
Disclosure of income tax [line items] | ||
Current tax asset | 208,396 | 590,328 |
Current tax liability | (3,437) | |
Not later than one year [member] | ||
Disclosure of income tax [line items] | ||
Current tax asset | 2,388,441 | 1,192,330 |
Current tax liability | $ (268,347) | $ (225,380) |
INCOME TAX - Effect of the curr
INCOME TAX - Effect of the current and deferred taxes in each component of other comprehensive income in equity (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Components of other comprehensive income that will be reclassified to profit or loss, before tax [abstract] | |||
Hedged Items | $ (797,514) | $ (6,675,329) | $ 2,565,637 |
Hedging derivatives in foreign currency | 4,051,499 | (403,983) | |
Hedging financial liabilities in foreign currency | 760,997 | 2,549,821 | (1,198,919) |
Cash flow hedges | (35,923) | (2,396) | 7,980 |
Foreign currency translation differences from unhedged foreign operations | (409,671) | 1,356,213 | (180,798) |
Unrealized gains (losses) on securities at FVOCI - Debt financial instruments | 1,795,666 | (2,187,495) | (1,346,315) |
Investments in associates and joint ventures | (35,892) | 81,730 | (846) |
Total other comprehensive income that will be reclassified to profit or loss, before tax | 1,277,663 | (825,957) | (557,244) |
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss [abstract] | |||
Tax (expense) income - Hedging of net investments in foreign subsidiaries operations, deferred | 3,972 | (3,264) | (2,292) |
Tax (expense) income - Hedging derivatives in foreign currency | 275,834 | ||
Current tax (expense) income - Hedging derivatives in foreign currency | 919 | (700,522) | |
Deferred tax (expense) income - Hedging derivatives in foreign currency | (2,930) | (818,130) | |
Tax (expense) income - Hedging financial liabilities in foreign currency | (266,321) | 476,463 | |
Current tax (expense) income - Hedging financial liabilities in foreign currency | (337,996) | ||
Deferred tax (expense) income - Hedging financial liabilities in foreign currency | (586,846) | ||
Tax (expense) income - Cash flow hedges, deferred | (83,357) | 2,543 | (3,382) |
Tax (expense) income - Foreign currency translation differences for foreign operations, deferred | 44,884 | (24,593) | (14,946) |
Tax (expense) income - Investment in associates and joint ventures | 1,660 | (3,054) | (228) |
Tax (expense) income - Debt financial instruments, deferred | (517,560) | 545,791 | 357,814 |
Total income tax relating to components of other comprehensive income that will be reclassified to profit or loss | (818,733) | (1,926,071) | 1,089,263 |
Current income tax relating to components of other comprehensive income that will be reclassified to profit or loss | 919 | (1,038,518) | |
Deferred income tax relating to components of other comprehensive income that will be reclassified to profit or loss | (819,652) | (887,553) | |
Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract] | |||
Net gain (loss) on hedges of net investments in foreign operations - Foreign currency translation differences from hedged foreign operations | (793,542) | (6,678,593) | 2,563,345 |
Net gain (loss) on hedges of net investments in foreign operations - Hedging derivative instrument | (2,011) | 2,532,847 | (128,149) |
Net gain (loss) on hedges of net investments in foreign operations - Hedging non-derivative instrument | 494,676 | 1,624,979 | (722,456) |
Cash flow hedges | (119,280) | 147 | 4,598 |
Foreign currency translation differences from unhedged foreign operations | (364,787) | 1,331,620 | (195,744) |
Investments in associates and joint ventures | (34,232) | 78,676 | (1,074) |
Unrealized gains (losses) on securities at FVOCI - Debt financial instruments | 1,278,106 | (1,641,704) | (988,501) |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 458,930 | (2,752,028) | 532,019 |
Components of other comprehensive income that will not be reclassified to profit or loss, before tax [abstract] | |||
Effect of moving investment properties for own use | (1,963) | 461 | 4,718 |
Unrealized gains (losses) on equity securities at FVOCI | 156,383 | (439,150) | (110,397) |
Actuarial (losses) gains from defined benefit pension plans | (56,324) | 95,819 | 61,665 |
Total other comprehensive income that will not be reclassified to profit or loss, before tax | 98,096 | (342,870) | (44,014) |
Income tax relating to components of other comprehensive income that will not be reclassified to profit or loss [abstract] | |||
Tax (expense) income - Effect of moving investment properties for own use, deferred | 1,051 | (1,146) | 79 |
Tax (expense) income - Equity financial instruments, deferred | (10,646) | (36,462) | (19,376) |
Tax (expense) income - Actuarial gains (losses) from defined benefit pension plans, deferred | 15,096 | (30,369) | (15,949) |
Total tax (expense) income, deferred | 5,501 | (67,977) | (35,246) |
Components of other comprehensive income that will not be reclassified to profit or loss, net of tax [abstract] | |||
Effect of moving investment properties for own use | (912) | (685) | 4,797 |
Unrealized gains (losses) on equity securities at FVOCI | 145,737 | (475,612) | (129,773) |
Actuarial (losses) gains from defined benefit pension plans | (41,228) | 65,450 | 45,716 |
Total other comprehensive income that will not be reclassified to profit or loss, net of tax | 103,597 | (410,847) | (79,260) |
Total other comprehensive income, before tax | 1,375,759 | (1,168,827) | (601,258) |
Tax (expense) income | (814,151) | (955,530) | 1,054,017 |
Current tax (expense) income | 919 | (1,038,518) | |
Deferred tax (expense) income | (814,151) | (955,530) | |
Other comprehensive income, net of taxes | 562,527 | $ (3,162,875) | $ 452,759 |
Changes in the fair value other accounts receivable | $ (258,982) |
INCOME TAX - Uncertainties in o
INCOME TAX - Uncertainties in open tax positions (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of income tax [abstract] | ||
Tax uncertainty liability | $ 3,535 | $ 4,307 |
INCOME TAX - Withholdings tax o
INCOME TAX - Withholdings tax on dividends paid between entities (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of income tax [abstract] | ||
Withholdings tax on dividends paid to entities | $ 164 | $ 5,363 |
INCOME TAX - Minimum tax rate (
INCOME TAX - Minimum tax rate (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of income tax [abstract] | |
Minimum tax rate (as a percent) | 15% |
CUSTOMER DEPOSITS - Deposits -
CUSTOMER DEPOSITS - Deposits - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of customer deposits [line items] | ||
Checking accounts | $ 23,809,859 | $ 25,932,053 |
Savings accounts | 71,149,883 | 74,293,894 |
Other funds on demand | 430,194 | 841,505 |
Total demand deposits | 95,389,936 | 101,067,452 |
Balances on term deposits from customers | 86,597,460 | 72,273,697 |
Total deposits from customers | 181,987,396 | 173,341,149 |
Colombia, Pesos | ||
Disclosure of customer deposits [line items] | ||
Total deposits from customers | 154,916,985 | 142,071,530 |
Foreign currency [member] | ||
Disclosure of customer deposits [line items] | ||
Total deposits from customers | $ 27,070,411 | $ 31,269,619 |
CUSTOMER DEPOSITS - Deposits _2
CUSTOMER DEPOSITS - Deposits - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of customer deposits [abstract] | ||
Deposits received | $ 19,732,877 | $ 14,702,118 |
CUSTOMER DEPOSITS - Effective i
CUSTOMER DEPOSITS - Effective interest rates (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Colombia, Pesos | Bottom of range [member] | Interest-bearing checking accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.11% | 0.01% |
Colombia, Pesos | Bottom of range [member] | Savings accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.01% | 0.01% |
Colombia, Pesos | Bottom of range [member] | Fixed term deposit certificates [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.05% | 0.05% |
Colombia, Pesos | Top of range [member] | Interest-bearing checking accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 13.40% | 13.20% |
Colombia, Pesos | Top of range [member] | Savings accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 16.13% | 17.20% |
Colombia, Pesos | Top of range [member] | Fixed term deposit certificates [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 23.52% | 19.54% |
Foreign currency [member] | Bottom of range [member] | Interest-bearing checking accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.25% | 0.02% |
Foreign currency [member] | Bottom of range [member] | Savings accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.25% | 0.01% |
Foreign currency [member] | Bottom of range [member] | Fixed term deposit certificates [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 0.45% | 0.15% |
Foreign currency [member] | Top of range [member] | Interest-bearing checking accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 5.30% | 4.40% |
Foreign currency [member] | Top of range [member] | Savings accounts [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 5.30% | 4% |
Foreign currency [member] | Top of range [member] | Fixed term deposit certificates [member] | ||
Disclosure of customer deposits [line items] | ||
Borrowings, interest rate | 8.46% | 8.05% |
CUSTOMER DEPOSITS - Concentrati
CUSTOMER DEPOSITS - Concentration of deposits received (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 181,987,396 | $ 173,341,149 |
Concentrations of deposits, percentage | 100% | 100% |
Financial [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 33,873,473 | $ 29,871,901 |
Concentrations of deposits, percentage | 18.60% | 17.20% |
Individuals [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 32,755,163 | $ 36,618,776 |
Concentrations of deposits, percentage | 18% | 21.10% |
Government and Colombian Government entities [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 20,927,670 | $ 19,655,737 |
Concentrations of deposits, percentage | 11.50% | 11.30% |
Services [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 17,303,980 | $ 16,143,899 |
Concentrations of deposits, percentage | 9.50% | 9.30% |
Insurance [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 10,619,085 | $ 10,206,023 |
Concentrations of deposits, percentage | 5.80% | 5.90% |
Commerce [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 10,390,440 | $ 10,030,824 |
Concentrations of deposits, percentage | 5.70% | 5.80% |
Real estates [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 9,252,682 | $ 3,109,595 |
Concentrations of deposits, percentage | 5.10% | 1.80% |
Manufacturing [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 3,753,556 | $ 3,689,037 |
Concentrations of deposits, percentage | 2.10% | 2.10% |
Agriculture and livestock [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 2,210,914 | $ 2,314,989 |
Concentrations of deposits, percentage | 1.20% | 1.30% |
Education [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 1,794,592 | $ 1,438,654 |
Concentrations of deposits, percentage | 1% | 0.80% |
Transport [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 1,523,858 | $ 1,849,662 |
Concentrations of deposits, percentage | 0.80% | 1.10% |
Exploitation of mines and quarries [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 1,071,957 | $ 1,700,628 |
Concentrations of deposits, percentage | 0.60% | 1% |
Colombian municipalities [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 635,410 | $ 433,063 |
Concentrations of deposits, percentage | 0.30% | 0.20% |
Artistic, entertainment and recreation activities [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 316,956 | $ 1,035,984 |
Concentrations of deposits, percentage | 0.20% | 0.60% |
Foreign governments [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 269,659 | $ 425,450 |
Concentrations of deposits, percentage | 0.10% | 0.20% |
Telecommunications [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 234,786 | $ 895,281 |
Concentrations of deposits, percentage | 0.10% | 0.50% |
Tourism [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 86,661 | $ 25 |
Concentrations of deposits, percentage | 0.10% | 0.10% |
Other [member] | ||
Disclosure of customer deposits [line items] | ||
Customer deposits | $ 34,966,554 | $ 33,921,621 |
Concentrations of deposits, percentage | 19.30% | 19.70% |
FINANCIAL OBLIGATIONS - Interba
FINANCIAL OBLIGATIONS - Interbank borrowings, overnight funds - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Total borrowings from banks and others | $ 22,218,460 | $ 30,309,358 |
Colombia, Pesos | ||
Disclosure of detailed information about borrowings [line items] | ||
Overnight funds | 24,539 | 10,049 |
Interbank funds purchased | 671,542 | 271,843 |
Commitments to transfer open and closed repo operations | 3,746,752 | 2,221,471 |
Commitments to transfer simultaneous operations | 9,158,585 | 4,106,145 |
Commitments originated in short positions simultaneous operations | 1,093,314 | 784,651 |
Total interbank funds | 14,694,732 | 7,394,159 |
Borrowings | 3,605,693 | 3,986,088 |
Lease contracts | 1,793,568 | 1,566,279 |
Overdrafts in bank checking account | 13 | 52 |
Other financial obligations | 237,129 | 237,993 |
Total borrowings from banks and others | 5,636,403 | 5,790,412 |
Foreign currency [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Overnight funds | 14,241 | 7,199 |
Interbank funds purchased | 450,762 | |
Commitments to transfer open and closed repo operations | 372,947 | 1,162,612 |
Commitments to transfer simultaneous operations | 73,189 | |
Total interbank funds | 387,188 | 1,693,762 |
Borrowings | 12,077,906 | 18,699,150 |
Lease contracts | 998,180 | 769,665 |
Letters of credit | 1,026,404 | 1,256,283 |
Bankers Acceptances | 2,479,567 | 3,793,848 |
Total borrowings from banks and others | 16,582,057 | 24,518,946 |
Total interbank borrowings, overnight funds and borrowings from banks and others | $ 37,300,380 | $ 39,397,279 |
FINANCIAL OBLIGATIONS - Inter_2
FINANCIAL OBLIGATIONS - Interbank borrowings, overnight funds - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of deposits from financial obligations [abstract] | ||
Amount of interbank borrowings, overnight funds and borrowings from banks and others due over 12 months | $ 11,586,737 | $ 10,952,395 |
Simultaneous and repo operations | 9,158,585 | 4,179,334 |
Guaranteed with Investments | $ 16,874,942 | $ 11,091,726 |
FINANCIAL OBLIGATIONS - Borrowi
FINANCIAL OBLIGATIONS - Borrowings from development entities - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Other borrowings | $ 4,813,133 | $ 4,357,275 |
BANCOLDEX [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Other borrowings | $ 1,136,527 | 1,632,763 |
BANCOLDEX [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 2.19% | |
BANCOLDEX [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 20.96% | |
BANCOLDEX [member] | DTF [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.30% | |
BANCOLDEX [member] | DTF [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 12.64% | |
BANCOLDEX [member] | IBR [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.05% | |
BANCOLDEX [member] | IBR [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 19.17% | |
BANCOLDEX [member] | SOFR6 | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 5.33% | |
BANCOLDEX [member] | SOFR6 | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 5.49% | |
FINAGRO [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Other borrowings | $ 1,482,091 | 722,857 |
FINAGRO [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 7.30% | |
FINAGRO [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 15.69% | |
FINAGRO [member] | DTF [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.50% | |
FINAGRO [member] | DTF [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 8.60% | |
FINAGRO [member] | IBR [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.40% | |
FINAGRO [member] | IBR [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 15.38% | |
FINDETER [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Other borrowings | $ 2,194,515 | $ 2,001,655 |
FINDETER [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 9.47% | |
FINDETER [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 19.57% | |
FINDETER [member] | DTF [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 1% | |
FINDETER [member] | DTF [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 7.92% | |
FINDETER [member] | IBR [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.40% | |
FINDETER [member] | IBR [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 19.12% | |
FINDETER [member] | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.50% | |
FINDETER [member] | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 7.92% |
FINANCIAL OBLIGATIONS - Borro_2
FINANCIAL OBLIGATIONS - Borrowings from development entities - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Amount of financial obligations with development entities | $ 4,083,085 | $ 3,854,907 |
Colombia, Pesos | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount of financial obligations with development entities | 4,798,022 | 4,241,367 |
Foreign currency [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount of financial obligations with development entities | $ 15,111 | $ 115,908 |
FINANCIAL OBLIGATIONS - Issued
FINANCIAL OBLIGATIONS - Issued bonds by issued date and maturity date - Tabular disclosure (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [line items] | ||
Bonds issued | $ 23,427,826 | $ 28,362,221 |
Colombia, Pesos | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds issued | $ 9,554,831 | 10,910,942 |
Colombia, Pesos | Parent Company [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 03/12/2009 and 14/11/2019 | |
Bonds issued | $ 1,136,702 | 1,138,143 |
Maturity Date | Between 14/11/2024 and 28/06/2042 | |
Interest Rate | 6.42% | |
Colombia, Pesos | Parent Company [Member] | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 3.69% | |
Colombia, Pesos | Parent Company [Member] | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 5.20% | |
Colombia, Pesos | Banco AV Villas | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | 23/02/2021 | |
Bonds issued | $ 296,689 | 361,268 |
Maturity Date | Between 23/02/2024 and 23/02/2026 | |
Colombia, Pesos | Banco AV Villas | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 0.71% | |
Colombia, Pesos | Banco AV Villas | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 1.36% | |
Colombia, Pesos | Banco de Bogota S.A. | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 24/09/2020 and 10/02/2021 | |
Bonds issued | $ 791,579 | 906,568 |
Maturity Date | Between 10/02/2024 and 10/02/2026 | |
Colombia, Pesos | Banco de Bogota S.A. | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 3.40% | |
Colombia, Pesos | Banco de Bogota S.A. | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 4.75% | |
Colombia, Pesos | Banco de Bogota S.A. | CPI [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 1.16% | |
Colombia, Pesos | Banco de Occidente S.A. | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 09/08/2012 and 20/08/2020 | |
Bonds issued | $ 2,121,344 | 2,269,916 |
Maturity Date | Between 27/04/2024 and 14/12/2032 | |
Borrowing rate interest rate basis | 5.83% | |
Colombia, Pesos | Banco de Occidente S.A. | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 2.37% | |
Colombia, Pesos | Banco de Occidente S.A. | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 4.65% | |
Colombia, Pesos | Corporacion Financiera Colombiana S.A. | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 27/08/2009 and 20/10/2021 | |
Bonds issued | $ 3,205,530 | 3,509,805 |
Maturity Date | Between 27/08/2024 and 19/11/2045 | |
Interest Rate | 3.77% | |
Colombia, Pesos | Corporacion Financiera Colombiana S.A. | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 1.58% | |
Colombia, Pesos | Corporacion Financiera Colombiana S.A. | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 5.99% | |
Colombia, Pesos | Banco Popular S.A. | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 12/10/2016 and 10/03/2022 | |
Bonds issued | $ 2,002,987 | 2,725,242 |
Maturity Date | Between 13/02/2024 and 10/03/2027 | |
Colombia, Pesos | Banco Popular S.A. | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 6.12% | |
Colombia, Pesos | Banco Popular S.A. | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 10.20% | |
Colombia, Pesos | Banco Popular S.A. | CPI [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 2.58% | |
Colombia, Pesos | Banco Popular S.A. | CPI [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 4.13% | |
Colombia, Pesos | Banco Popular S.A. | IBR [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 1.59% | |
Colombia, Pesos | Banco Popular S.A. | IBR [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 2.68% | |
Foreign currency [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds issued | $ 13,872,995 | 17,451,279 |
Foreign currency [member] | Banco de Bogota SA, BAC and MFH | ||
Disclosure of detailed information about borrowings [line items] | ||
Bonds issued | $ 8,127,937 | 10,229,027 |
Foreign currency [member] | Banco De Bogota Sa Under Rule 144a | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 12/05/2016 and 24/03/2023 | |
Bonds issued | $ 6,750,155 | 9,897,818 |
Maturity Date | Between 12/05/2026 and 24/03/2033 | |
Foreign currency [member] | Banco De Bogota Sa Under Rule 144a | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 4.38% | |
Foreign currency [member] | Banco De Bogota Sa Under Rule 144a | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 6.25% | |
Foreign currency [member] | Banco De Bogota Sa Under Rule 144a | SOFR6 | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing rate interest rate basis | 3.75% | |
Foreign currency [member] | Multi Financial Holding | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 04/02/2020 and 28/12/2023 | |
Bonds issued | $ 1,377,782 | 331,209 |
Maturity Date | Between 12/01/2024 and 28/12/2033 | |
Foreign currency [member] | Multi Financial Holding | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 2.50% | |
Foreign currency [member] | Multi Financial Holding | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest Rate | 7.25% | |
Foreign currency [member] | Grupo Aval Limited | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | 04/02/2020 | |
Bonds issued | $ 3,834,985 | 4,822,146 |
Maturity Date | 04/02/2030 | |
Interest Rate | 4.38% | |
Foreign currency [member] | Promigas S.A. and Gases del Pacfico S.A.C. Under rule 144A. | ||
Disclosure of detailed information about borrowings [line items] | ||
Issue Date | Between 16/10/2019 and 22/10/2020 | |
Bonds issued | $ 1,910,073 | $ 2,400,106 |
Maturity Date | Between 16/10/2029 and 22/10/2029 | |
Interest Rate | 3.75% |
FINANCIAL OBLIGATIONS - Issue_2
FINANCIAL OBLIGATIONS - Issued bonds by issued date and maturity date - Additional information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of deposits from financial obligations [abstract] | ||
The amount of issued bonds due over 12 months | $ 21,664,811 | $ 24,405,886 |
FINANCIAL OBLIGATIONS - Interes
FINANCIAL OBLIGATIONS - Interest expense information (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest expenses [Abstract] | |||
Checking accounts | $ (253,043) | $ (159,114) | $ (62,378) |
Savings accounts | (5,953,426) | (3,555,844) | (875,439) |
Time deposits | (9,944,424) | (4,040,232) | (1,700,128) |
Interest of the derivative designated as the hedging instrument | (63,333) | (1,242) | |
Interest expense on deposits from customers | (16,214,226) | (7,756,432) | (2,637,945) |
Financial obligations [Abstract] | |||
Interbank borrowings and overnight funds | (1,856,263) | (678,114) | (162,455) |
Borrowings from banks and similar | (1,601,927) | (739,803) | (401,742) |
Leases contracts | (208,781) | (147,330) | |
Bonds issued | (2,159,948) | (2,092,843) | (1,368,660) |
Borrowing from development entities | (591,285) | (249,873) | (90,028) |
Total Financial obligations | (6,418,204) | (3,907,963) | (2,022,885) |
Total interest expense | $ (22,632,430) | $ (11,664,395) | $ (4,660,830) |
FINANCIAL OBLIGATIONS - Reconci
FINANCIAL OBLIGATIONS - Reconciliation of movements of liabilities to cash flows arising from financing activities (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | $ 62,887,204 | $ 74,093,085 | $ 66,012,948 |
Cash flows from financing activities: | |||
Dividends paid to shareholders | (766,537) | (414,267) | (1,230,841) |
Dividends paid to non-controlling interest | (915,933) | (615,177) | (913,356) |
Issuance of debt securities (excluding interest issuance of debt securities) | 2,609,994 | 695,136 | 2,932,471 |
Interest issuance of debt securities | (1,191) | ||
Payment of outstanding debt securities | (4,072,742) | (7,837,898) | (1,631,318) |
Leases | (391,667) | (383,472) | (472,084) |
Redemption of preferred shares | (29,751) | ||
Equity transaction | (15,014) | 120 | |
Net cash used in financing activities | (3,536,885) | (8,570,692) | (1,345,950) |
Cash flows from operating activities: | |||
Accrued interest | 2,422,386 | 2,296,741 | 1,804,269 |
Interest paid | (2,373,782) | (2,255,911) | (1,759,103) |
Other changes | (2,672,730) | 3,042,893 | 3,547,822 |
Total liabilities related to other changes | (2,624,126) | 3,083,723 | 3,592,988 |
Total equity related to other changes | 2,086,000 | (5,718,912) | 5,833,099 |
Balance at end of period | 58,812,193 | 62,887,204 | 74,093,085 |
Subscribed and paid-in capital | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 23,744 | 22,281 | 22,281 |
Cash flows from operating activities: | |||
Other changes | 1,463 | ||
Total liabilities related to other changes | 1,463 | ||
Balance at end of period | 23,744 | 23,744 | 22,281 |
Additional paid - in capital | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 9,571,374 | 8,490,799 | 8,470,870 |
Cash flows from financing activities: | |||
Equity transaction | 7,280 | ||
Net cash used in financing activities | 7,280 | ||
Cash flows from operating activities: | |||
Other changes | 1,082,307 | ||
Total liabilities related to other changes | 1,082,307 | ||
Total equity related to other changes | (9,012) | 19,929 | |
Balance at end of period | 9,571,374 | 9,571,374 | 8,490,799 |
Retained earnings [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 8,018,417 | 13,383,387 | 11,302,134 |
Cash flows from operating activities: | |||
Other changes | (982,868) | (1,193,728) | (1,203,000) |
Total liabilities related to other changes | (982,868) | (1,193,728) | (1,203,000) |
Total equity related to other changes | 696,224 | (4,171,242) | 3,284,253 |
Balance at end of period | 7,731,773 | 8,018,417 | 13,383,387 |
Non-controlling interest | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 14,354,689 | 16,457,994 | 14,782,259 |
Cash flows from financing activities: | |||
Redemption of preferred shares | (29,751) | ||
Equity transaction | (22,294) | 120 | |
Net cash used in financing activities | (22,294) | (29,631) | |
Cash flows from operating activities: | |||
Other changes | (1,006,721) | (542,353) | (823,551) |
Total liabilities related to other changes | (1,006,721) | (542,353) | (823,551) |
Total equity related to other changes | 1,389,776 | (1,538,658) | 2,528,917 |
Balance at end of period | 14,737,744 | 14,354,689 | 16,457,994 |
Dividends Payable [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 220,815 | 598,534 | 648,874 |
Cash flows from financing activities: | |||
Dividends paid to shareholders | (766,537) | (414,267) | (1,230,841) |
Dividends paid to non-controlling interest | (915,933) | (615,177) | (913,356) |
Net cash used in financing activities | (1,682,470) | (1,029,444) | (2,144,197) |
Cash flows from operating activities: | |||
Other changes | 1,989,639 | 651,725 | 2,093,857 |
Total liabilities related to other changes | 1,989,639 | 651,725 | 2,093,857 |
Balance at end of period | 527,984 | 220,815 | 598,534 |
Bonds issued [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 28,362,221 | 32,257,933 | 27,760,797 |
Cash flows from financing activities: | |||
Issuance of debt securities (excluding interest issuance of debt securities) | 2,609,994 | 695,136 | 2,932,471 |
Interest issuance of debt securities | (1,191) | ||
Payment of outstanding debt securities | (4,072,742) | (7,837,898) | (1,631,318) |
Net cash used in financing activities | (1,462,748) | (7,142,762) | 1,299,962 |
Cash flows from operating activities: | |||
Accrued interest | 2,212,345 | 2,147,935 | 1,631,055 |
Interest paid | (2,171,231) | (2,109,636) | (1,590,137) |
Other changes | (3,512,761) | 3,208,751 | 3,156,256 |
Total liabilities related to other changes | (3,471,647) | 3,247,050 | 3,197,174 |
Balance at end of period | 23,427,826 | 28,362,221 | 32,257,933 |
Lease liabilities [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Balance at beginning of period | 2,335,944 | 2,882,157 | 3,025,733 |
Cash flows from financing activities: | |||
Leases | (391,667) | (383,472) | (472,084) |
Net cash used in financing activities | (391,667) | (383,472) | (472,084) |
Cash flows from operating activities: | |||
Accrued interest | 210,041 | 148,806 | 173,214 |
Interest paid | (202,551) | (146,275) | (168,966) |
Other changes | 839,981 | (165,272) | 324,260 |
Total liabilities related to other changes | 847,471 | (162,741) | 328,508 |
Balance at end of period | $ 2,791,748 | $ 2,335,944 | $ 2,882,157 |
EMPLOYEE BENEFITS - Liabilities
EMPLOYEE BENEFITS - Liabilities for employee benefits (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of defined benefit plans [line items] | ||
Gross employee benefits | $ 924,832 | $ 908,195 |
Plan Asset | (17,024) | (18,176) |
Net employee benefits | 907,808 | 890,019 |
Short Term Benefits | ||
Disclosure of defined benefit plans [line items] | ||
Gross employee benefits | 385,296 | 425,523 |
Post-Employment benefits | ||
Disclosure of defined benefit plans [line items] | ||
Gross employee benefits | 380,207 | 349,587 |
Long-Term Benefits | ||
Disclosure of defined benefit plans [line items] | ||
Gross employee benefits | $ 159,329 | $ 133,085 |
EMPLOYEE BENEFITS - Post-employ
EMPLOYEE BENEFITS - Post-employment benefit expense (Details) - Post-Employment benefits - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of defined benefit plans [line items] | ||
Defined contribution plan | $ 108,059 | $ 101,862 |
Defined benefit plan | 44,426 | 34,623 |
Total | $ 152,485 | $ 136,485 |
EMPLOYEE BENEFITS - Post-empl_2
EMPLOYEE BENEFITS - Post-employment and long-term benefits movements (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Post-Employment benefits | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Balance at the beginning of the year | $ 331,411 | $ 475,356 | |
Balance at the end of the year | 363,183 | 331,411 | $ 475,356 |
Long-Term Benefits | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Balance at the beginning of the year | 133,085 | 134,831 | |
Balance at the end of the year | 159,329 | 133,085 | 134,831 |
Plan obligation | Post-Employment benefits | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Balance at the beginning of the year | 349,587 | 522,196 | 597,936 |
Service costs | 2,690 | 3,845 | 2,749 |
Interests cost | 41,736 | 30,778 | 30,705 |
Gain on settlements | 278 | ||
Past Service Costs | (2,079) | ||
Net defined benefit liability asset After Adjustment | 391,934 | 556,819 | 631,668 |
Changes in actuarial assumptions from changes in demographic assumptions | (753) | (15) | |
Changes in actuarial assumptions from changes in financial assumptions | 26,832 | (69,967) | (54,996) |
Changes in actuarial assumptions from changes in the experience | 27,472 | 2,167 | (21,264) |
Total changes in actuarial assumptions | 53,551 | (67,800) | (76,275) |
Payments to employees | (61,589) | (51,306) | (51,591) |
Liquidation of entities | (432) | ||
Loss of control in subsidiary | (98,024) | ||
Discontinued operations | 6,251 | 15,125 | |
Reclassification BAC | (1,002) | ||
Effect of movements in exchange rates | (3,689) | 4,079 | 4,271 |
Balance at the end of the year | 380,207 | 349,587 | 522,196 |
Plan obligation | Long-Term Benefits | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Balance at the beginning of the year | 133,085 | 134,831 | 180,090 |
Service costs | 14,765 | 14,815 | 18,454 |
Interests cost | 16,699 | 8,949 | 7,982 |
Past Service Costs | 10,063 | (28,009) | |
Net defined benefit liability asset After Adjustment | 174,612 | 158,595 | 178,517 |
Changes in actuarial assumptions from changes in demographic assumptions | (7,342) | (86) | |
Changes in actuarial assumptions from changes in financial assumptions | 473 | (14,149) | (19,976) |
Changes in actuarial assumptions from changes in the experience | 17,313 | 10,456 | (2,893) |
Total changes in actuarial assumptions | 10,444 | (3,693) | (22,955) |
Payments to employees | (25,727) | (21,817) | (20,731) |
Balance at the end of the year | 159,329 | 133,085 | 134,831 |
Plan Assets | Post-Employment benefits | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Balance at the beginning of the year | (18,176) | (46,840) | (38,241) |
Interests cost | (794) | (427) | (522) |
Loss of control in subsidiary | 27,269 | ||
Discontinued operations | (798) | ||
Remeasurements on plan assets | (1,788) | 5,885 | (1,676) |
Reclassification BAC | (3,189) | ||
Effect of movements in exchange rates | 3,734 | (4,063) | (2,414) |
Balance at the end of the year | $ (17,024) | $ (18,176) | $ (46,840) |
EMPLOYEE BENEFITS - Assumptions
EMPLOYEE BENEFITS - Assumptions (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Post-Employment benefits | ||
Disclosure of defined benefit plans [line items] | ||
Discount interest rate | 11.34% | 13.27% |
Inflation rate | 2.96% | 3% |
Salary growth rate | 3.80% | 3.58% |
Pension growth rate | 3% | 3% |
Long-Term Benefits | ||
Disclosure of defined benefit plans [line items] | ||
Discount interest rate | 11.40% | 13.72% |
Inflation rate | 3% | 3% |
Salary growth rate | 4.27% | 4% |
EMPLOYEE BENEFITS - Sensitivity
EMPLOYEE BENEFITS - Sensitivity analysis (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Actuarial assumption of discount rates | Post-Employment benefits | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease | $ 10,764 | $ 8,242 |
Increase | (10,227) | (7,920) |
Actuarial assumption of discount rates | Long-Term Benefits | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease | 3,050 | 2,414 |
Increase | (2,919) | (2,317) |
Actuarial assumption of expected rates of salary increases | Post-Employment benefits | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease | (1,756) | (1,621) |
Increase | 2,353 | 1,671 |
Actuarial assumption of expected rates of salary increases | Long-Term Benefits | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease | (3,819) | (2,991) |
Increase | 3,589 | 3,101 |
Actuarial assumption of expected rates of pension increases | Post-Employment benefits | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease | (10,443) | (7,191) |
Increase | $ 10,979 | $ 3,589 |
EMPLOYEE BENEFITS - Future bene
EMPLOYEE BENEFITS - Future benefit payments (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Post-Employment benefits | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 525,823 | |
Weighted average duration of defined benefit obligation | 5 years 6 months 7 days | 4 years 7 months 13 days |
Post-Employment benefits | Not later than one year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 57,922 | |
Post-Employment benefits | Later than one year and not later than two years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 58,572 | |
Post-Employment benefits | Later than two years and not later than three years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 57,227 | |
Post-Employment benefits | Later than three years and not later than four years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 54,944 | |
Post-Employment benefits | Later than four years and not later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 53,979 | |
Post-Employment benefits | More than 5 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 243,179 | |
Long-Term Benefits | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 202,924 | |
Weighted average duration of defined benefit obligation | 3 years 9 months | 3 years 6 months 21 days |
Long-Term Benefits | Not later than one year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 31,798 | |
Long-Term Benefits | Later than one year and not later than two years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 27,668 | |
Long-Term Benefits | Later than two years and not later than three years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 22,014 | |
Long-Term Benefits | Later than three years and not later than four years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 22,121 | |
Long-Term Benefits | Later than four years and not later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 19,934 | |
Long-Term Benefits | More than 5 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 79,389 |
EMPLOYEE BENEFITS - Textual (De
EMPLOYEE BENEFITS - Textual (Details) | Dec. 31, 2023 |
Disclosure of defined benefit plans [abstract] | |
Percentage of reasonably possible increase and decrease in actuarial assumption | 0.50% |
LEGAL RELATED AND NON-LEGAL REL
LEGAL RELATED AND NON-LEGAL RELATED PROVISIONS - Roll forward (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | |||
Beginning Balance | $ 1,227,171 | $ 1,150,261 | $ 912,850 |
Provisions increased during the period | 633,693 | 563,299 | 607,262 |
Use of provisions | (389,696) | (245,301) | (120,318) |
Reversed provisions not utilized | (368,840) | (217,655) | (265,464) |
Effect of movements in exchange rates | (19,045) | 18,180 | 8,152 |
Reclassification BAC | (42,240) | (6,367) | |
Discontinued operations | 627 | 14,146 | |
Ending Balance | 1,083,283 | 1,227,171 | 1,150,261 |
Legal proceedings provision [member] | |||
Disclosure of other provisions [line items] | |||
Beginning Balance | 229,193 | 247,529 | 241,774 |
Provisions increased during the period | 298,719 | 183,294 | 196,452 |
Use of provisions | (51,160) | (44,895) | (72,892) |
Reversed provisions not utilized | (258,421) | (155,475) | (118,865) |
Effect of movements in exchange rates | (642) | 370 | 503 |
Reclassification BAC | (2,047) | (9,749) | |
Discontinued operations | 417 | 10,306 | |
Ending Balance | 217,689 | 229,193 | 247,529 |
Miscellaneous other provisions [member] | |||
Disclosure of other provisions [line items] | |||
Beginning Balance | 997,978 | 902,732 | 671,076 |
Provisions increased during the period | 334,974 | 380,005 | 410,810 |
Use of provisions | (338,536) | (200,406) | (47,426) |
Reversed provisions not utilized | (110,419) | (62,180) | (146,599) |
Effect of movements in exchange rates | (18,403) | 17,810 | 7,649 |
Reclassification BAC | (40,193) | 3,382 | |
Discontinued operations | 210 | 3,840 | |
Ending Balance | $ 865,594 | $ 997,978 | $ 902,732 |
LEGAL RELATED AND NON-LEGAL R_2
LEGAL RELATED AND NON-LEGAL RELATED PROVISIONS - Estimated period to be canceled (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other provisions [line items] | ||||
Provisions | $ 1,083,283 | $ 1,227,171 | $ 1,150,261 | $ 912,850 |
Not later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 181,975 | 373,337 | ||
Later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 901,308 | 853,834 | ||
Legal proceedings provision [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 217,689 | 229,193 | 247,529 | 241,774 |
Legal proceedings provision [member] | Not later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 8,283 | 9,449 | ||
Legal proceedings provision [member] | Later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 209,406 | 219,744 | ||
Miscellaneous other provisions [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 865,594 | 997,978 | $ 902,732 | $ 671,076 |
Miscellaneous other provisions [member] | Not later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 173,692 | 363,888 | ||
Miscellaneous other provisions [member] | Later than one year [member] | ||||
Disclosure of other provisions [line items] | ||||
Provisions | $ 691,902 | $ 634,090 |
LEGAL RELATED AND NON-LEGAL R_3
LEGAL RELATED AND NON-LEGAL RELATED PROVISIONS - General information (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [line items] | ||
Legal proceedings provision | $ 217,689 | $ 229,193 |
Non legal related | 865,594 | 997,978 |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision | 241,431 | 149,598 |
Administrative proceedings | ||
Disclosure of other provisions [line items] | ||
Provisions for administrative proceedings | 29,207 | 26,476 |
Labor proceedings | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision | 28,138 | 29,592 |
Other proceedings | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision | 160,344 | 173,125 |
Other proceedings | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision | 152,017 | 144,038 |
Miscellaneous other provisions [member] | ||
Disclosure of other provisions [line items] | ||
Non legal related | 865,594 | 997,978 |
Miscellaneous other provisions [member] | Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | ||
Disclosure of other provisions [line items] | ||
Non legal related | 283,568 | 289,381 |
Miscellaneous other provisions [member] | Corporacion Financiera Colombiana S.A. | ||
Disclosure of other provisions [line items] | ||
Non legal related | 310,044 | 339,191 |
Provision for recognition of additional costs | ||
Disclosure of other provisions [line items] | ||
Legal proceedings provision | 42,358 | 55,933 |
Provision for decommissioning, restoration and rehabilitation costs | ||
Disclosure of other provisions [line items] | ||
Non legal related | 75,808 | 59,002 |
Provision for credit commitments | ||
Disclosure of other provisions [line items] | ||
Non legal related | $ 70,268 | $ 64,910 |
OTHER LIABILITIES - Accounts pa
OTHER LIABILITIES - Accounts payable and other liabilities - Tabular disclosure (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of accounts payable and other liabilities [abstract] | ||
Suppliers and services payable | $ 3,474,177 | $ 2,803,736 |
Income received for third parties | 3,399,759 | 3,039,484 |
Transactions ATH and ACH | 939,341 | 749,578 |
Withholdings taxes and labor contributions | 703,380 | 611,951 |
Cashier checks | 655,854 | 646,688 |
Contract liability related to concessions | 530,300 | 515,688 |
Dividends payable | 527,984 | 220,815 |
Commissions and fees | 411,478 | 399,895 |
Collection on behalf of third parties | 334,963 | 266,462 |
Cash surplus | 133,774 | 69,291 |
Insurance payables | 117,371 | 111,081 |
Collection service | 106,089 | 101,615 |
Value added tax - VAT | 75,098 | 59,599 |
Checks drawn and not paid | 70,791 | 88,128 |
Financial transactions tax | 52,106 | 52,787 |
Canceled accounts | 34,782 | 34,645 |
Anticipated income | 17,566 | 18,001 |
Customer loyalty programs | 14,784 | 14,009 |
Other liabilities | 354,843 | 338,349 |
Total other liabilities | $ 11,954,440 | $ 10,141,802 |
OTHER LIABILITIES - Classificat
OTHER LIABILITIES - Classification (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of accounts payable and other liabilities [abstract] | ||
Liabilities to be canceled within twelve months | $ 8,800,905 | $ 8,043,321 |
Liabilities to be canceled after twelve months | 3,153,535 | 2,098,481 |
Total other liabilities | $ 11,954,440 | $ 10,141,802 |
EQUITY ATTRIBUTABLE TO OWNERS_3
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Authorized and subscribed shares (Details) - shares | Mar. 20, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of classes of share capital [abstract] | |||||
Authorized shares (in shares) | 120,000,000,000 | 120,000,000,000 | |||
Subscribed fully paid shares (in shares) | 23,743,475,754 | 22,281,017,159 | |||
Total outstanding shares (in shares) | 23,743,475,754 | 23,743,475,754 | 23,743,475,754 | 22,281,017,159 | 22,281,017,159 |
EQUITY ATTRIBUTABLE TO OWNERS_4
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Outstanding shares roll forward (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of classes of share capital [abstract] | ||
Total outstanding shares at beginning of period (in shares) | 23,743,475,754 | 22,281,017,159 |
Issuance of shares (in shares) | 0 | 1,462,458,595 |
Total outstanding shares at end of period (in shares) | 23,743,475,754 | 23,743,475,754 |
EQUITY ATTRIBUTABLE TO OWNERS_5
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Issuance of shares (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of classes of share capital [line items] | |||
Issuance of shares (in shares) | 0 | 1,462,458,595 | |
Issuance of shares | $ 1,655,855 | $ 120 | |
Equity attributable to owners of parent [member] | |||
Disclosure of classes of share capital [line items] | |||
Issuance of shares | 1,083,770 | ||
Subscribed and paid-in capital | |||
Disclosure of classes of share capital [line items] | |||
Issuance of shares | 1,463 | ||
Additional paid - in capital | |||
Disclosure of classes of share capital [line items] | |||
Issuance of shares | $ 1,082,307 |
EQUITY ATTRIBUTABLE TO OWNERS_6
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Total outstanding shares (Details) - shares | Mar. 20, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of classes of share capital [line items] | |||||
Total shares outstanding | 23,743,475,754 | 23,743,475,754 | 23,743,475,754 | 22,281,017,159 | 22,281,017,159 |
Ordinary shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Total shares outstanding | 16,201,712,499 | 16,204,145,980 | |||
Preference shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Total shares outstanding | 7,541,763,255 | 7,539,329,774 |
EQUITY ATTRIBUTABLE TO OWNERS_7
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Outstanding shares (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of classes of share capital [line items] | ||
Nominal value per share | $ 1 | |
Shares issued, price per share | 741.06 | |
Shares issued, price per share in capital stock | 1 | |
Shares issued, price per share in additional paid in capital | $ 740.06 | |
Common stock conversion to preferred stock | 2,433,481 | 2,515,570 |
Preference shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Preferential minimum dividend per semester per share | $ 1 |
EQUITY ATTRIBUTABLE TO OWNERS_8
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Appropriated retained earnings (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of classes of share capital [abstract] | ||
Retained earnings | $ 525,153 | $ (4,784,817) |
Accumulated withholding tax over dividends | (26,135) | (25,824) |
Legal reserve | 11,872 | 11,872 |
Statutory and voluntary reserves | 7,220,883 | 12,817,186 |
Retained earnings | $ 7,731,773 | $ 8,018,417 |
EQUITY ATTRIBUTABLE TO OWNERS_9
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Legal reserve (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
Legal reserve as percentage of net profit | 10% |
Maximum legal reserve as percentage of subscription capital stock | 50% |
Maximum legal reserve as percentage of subscription capital stock, reduced to stem losses in excess of retained earnings | 50% |
EQUITY ATTRIBUTABLE TO OWNER_10
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Declared dividends (Details) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Mar. 20, 2024 COP ($) $ / shares shares | Dec. 31, 2023 COP ($) installment $ / shares shares | Dec. 31, 2022 COP ($) $ / shares shares | Dec. 31, 2021 COP ($) installment $ / shares shares | Dec. 31, 2020 shares | |
Disclosure of classes of share capital [abstract] | |||||
Net income for the period | $ | $ 723,037 | $ 2,541,179 | $ 3,502,758 | $ 2,399,001 | |
Declared dividends information | To distribute a cash profit of Ps. 2 per share per month during the months of April 2024 to March 2025, both months included over 23,743,475,754 shares subscribed and paid as of the date of this meeting. | ||||
Declared dividends | $ 43.20 | $ 54 | $ 54 | ||
Number of shares outstanding | shares | 23,743,475,754 | 23,743,475,754 | 23,743,475,754 | 22,281,017,159 | 22,281,017,159 |
Dividends payable, shares, ratio | 0.07286861 | ||||
Dividends payable, shares to be issued, maximum | shares | 1,623,586,385 | ||||
Dividends payable, shares to be issued, unit price | $ 741.06 | ||||
Number of installments, dividend payable | installment | 12 | 12 | |||
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share, per installment | $ 2 | $ 3.60 | $ 4.50 | ||
Total declared dividends | $ | $ 569,843 | $ 1,025,718 | $ 1,203,175 | $ 1,203,175 |
EQUITY ATTRIBUTABLE TO OWNER_11
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Tabular disclosure (Details) - COP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Adjustments to reconcile profit (loss) to numerator used in calculating earnings per share [abstract] | |||
Net income for the year | $ 2,177,116 | $ 4,869,133 | $ 5,668,502 |
Less: participation of non-controlling interests | (1,438,113) | (2,386,248) | (2,370,766) |
Net income attributable to owners of the parent | 739,003 | 2,482,885 | 3,297,736 |
Less: Allocation of undistributed earnings to preferred stockholders, basic | (234,727) | (791,989) | (1,058,554) |
Less: Allocation of undistributed earnings to preferred stockholders, diluted | (234,727) | (791,989) | (1,058,554) |
Net Income allocated to common shareholders for basic EPS | 504,276 | 1,690,896 | 2,239,182 |
Net Income allocated to common shareholders for diluted EPS | $ 504,276 | $ 1,690,896 | $ 2,239,182 |
Weighted average number of common shares outstanding used in basic EPS calculation | 16,202,376,163 | 15,760,496,801 | 15,128,947,661 |
Basic earnings per share to common shareholders (pesos) | $ 31.12 | $ 107.29 | $ 148.01 |
Diluted earnings per share to common shareholders (pesos) | 31.12 | 107.29 | 148.01 |
Basic earnings per ADS in Colombian pesos | 622.47 | 2,145.74 | 2,960 |
Diluted earnings per ADS in Colombian pesos | $ 622.47 | $ 2,145.74 | $ 2,960 |
Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) | 23,743,475,754 | 23,142,465,372 | 22,281,017,159 |
EQUITY ATTRIBUTABLE TO OWNER_12
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Continuing operations (Details) - COP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Adjustments to reconcile profit (loss) to numerator used in calculating earnings per share [abstract] | |||
Net income from continuing operations | $ 2,177,116 | $ 4,002,967 | $ 4,041,190 |
Less: participation of non- controlling interests | (1,438,113) | (2,114,072) | (1,862,010) |
Net income attributable to owners of the parent | 739,003 | 1,888,895 | 2,179,180 |
Less: Allocation of undistributed earnings to preferred stockholders, basic | (234,727) | (602,519) | (699,504) |
Less: Allocation of undistributed earnings to preferred stockholders, diluted | (234,727) | (602,519) | (699,504) |
Net Income allocated to common shareholders for basic EPS | 504,276 | 1,286,376 | 1,479,676 |
Net Income allocated to common shareholders for diluted EPS | $ 504,276 | $ 1,286,376 | $ 1,479,676 |
Weighted average number of common shares outstanding used in basic EPS calculation | 16,202,376,163 | 15,760,496,801 | 15,128,947,661 |
Basic earnings per share to common shareholders (in Colombian pesos) | $ 31.12 | $ 81.62 | $ 97.80 |
Diluted earnings per share to common shareholders (in Colombian pesos) | 31.12 | 81.62 | 97.80 |
Basic earnings per ADS (in Colombian pesos) | 622.47 | 1,632.41 | 1,956.09 |
Diluted earnings per ADS (in Colombian pesos) | $ 622.47 | $ 1,632.41 | $ 1,956.09 |
Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) | 23,743,475,754 | 23,142,465,372 | 22,281,017,159 |
EQUITY ATTRIBUTABLE TO OWNER_13
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Discontinued operations (Details) - COP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Adjustments to reconcile profit (loss) to numerator used in calculating earnings per share [abstract] | |||
Net income from discontinued operations, net of tax | $ 866,166 | $ 1,627,312 | |
Less: participation of non- controlling interests | (272,176) | (508,756) | |
Net income attributable to owners of the parent | 593,990 | 1,118,556 | |
Less: Allocation of undistributed earnings to preferred stockholders, basic | (189,470) | (359,050) | |
Less: Allocation of undistributed earnings to preferred stockholders, diluted | (189,470) | (359,050) | |
Net Income allocated to common shareholders for basic EPS | 404,520 | 759,506 | |
Net Income allocated to common shareholders for diluted EPS | $ 404,520 | $ 759,506 | |
Weighted average number of common shares outstanding used in basic EPS calculation | 16,202,376,163 | 15,760,496,801 | 15,128,947,661 |
Basic earnings per share to common shareholders (in Colombian pesos) | $ 25.67 | $ 50.20 | |
Diluted earnings per share to common shareholders (in Colombian pesos) | 25.67 | 50.20 | |
Basic earnings per ADS (in Colombian pesos) | 513.33 | 1,004.04 | |
Diluted earnings per ADS (3) (in Colombian pesos) | $ 513.33 | $ 1,004.04 | |
Weighted average of the common and preferred shares used in the calculation of earnings per basic share (common and preferred) | 23,743,475,754 | 23,142,465,372 | 22,281,017,159 |
EQUITY ATTRIBUTABLE TO OWNER_14
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Earnings per share - Additional information (Details) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
ADR [Member] | Preference shares [member] | |||
Disclosure of depositary receipts [line items] | |||
Number of shares represented by one depositary receipt | 20 | 20 | 20 |
EQUITY ATTRIBUTABLE TO OWNER_15
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Equity transactions (Details) - COP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | May 22, 2020 | |
Disclosure of classes of share capital [line items] | |||||
Liquid investment | $ 14,788,750 | $ 13,234,832 | |||
Multi Financial Group Inc | |||||
Disclosure of classes of share capital [line items] | |||||
Dividends paid, other shares | $ 14,612 | ||||
Proportion of ownership interest acquired | 99.60% | 96.60% | |||
Percentage of voting equity interests acquired | 99.60% | 96.60% | |||
Banco de Bogota S.A. | |||||
Disclosure of classes of share capital [line items] | |||||
Percentage of economic interest held | 68.93% | 68.93% | 68.74% | ||
Corporacion Financiera Colombiana S.A. | |||||
Disclosure of classes of share capital [line items] | |||||
Percentage of economic interest held | 40.53% | ||||
Corficolombiana S.A | |||||
Disclosure of classes of share capital [line items] | |||||
Liquid investment | $ 15,091 | ||||
Preferred shares recognized value | $ 15,091 | $ 19,929 | |||
Percentage of economic interest held | 40.40% | 39.98% | 39.58% | ||
Colombiana de Licitaciones y Concesiones S.A.S | |||||
Disclosure of classes of share capital [line items] | |||||
Percentage of economic interest held | 40.53% | 40.53% | 40.40% |
EQUITY ATTRIBUTABLE TO OWNER_16
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated other comprehensive income - Components (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | $ 30,821,659 | $ 39,471,647 | $ 35,439,557 |
Balance | 31,520,416 | 30,821,659 | 39,471,647 |
Accumulated other comprehensive income including non-controlling interests | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | (988,925) | 2,173,950 | 1,721,191 |
Current period change | 655,171 | (1,733,550) | 452,759 |
Realization of OCI to P&L of discontinued operation | (1,429,325) | ||
Realization of OCI | (92,644) | ||
Balance | (426,398) | (988,925) | 2,173,950 |
AOCI related to foreign currency translation differences from hedged foreign operations | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 161,023 | 235,032 | (727,703) |
Current period change | (36,517) | (266,716) | 962,735 |
Realization of OCI to P&L of discontinued operation | 192,707 | ||
Balance | 124,506 | 161,023 | 235,032 |
AOCI related to revaluation investment properties | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 19,481 | 19,020 | 14,302 |
Current period change | 557 | 461 | 4,718 |
Realization of OCI | (2,520) | ||
Balance | 17,518 | 19,481 | 19,020 |
AOCI related to cash flow hedges | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 5,542 | 7,938 | (42) |
Current period change | (47,793) | (2,396) | 7,980 |
Realization of OCI | 11,870 | ||
Balance | (30,381) | 5,542 | 7,938 |
AOCI related to foreign currency translation differences from unhedged foreign operations | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 288,632 | (1,067,581) | (886,783) |
Current period change | (409,671) | 90,619 | (180,798) |
Realization of OCI to P&L of discontinued operation | 1,265,594 | ||
Balance | (121,039) | 288,632 | (1,067,581) |
AOCI related to debt securities | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | (2,973,226) | (785,731) | 560,584 |
Current period change | 1,898,441 | (2,088,548) | (1,346,315) |
Realization of OCI to P&L of discontinued operation | (98,947) | ||
Realization of OCI | (102,775) | ||
Balance | (1,177,560) | (2,973,226) | (785,731) |
AOCI related to equity securities | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 366,388 | 805,538 | 915,935 |
Current period change | 151,517 | (439,150) | (110,397) |
Realization of OCI | 4,866 | ||
Balance | 522,771 | 366,388 | 805,538 |
Investments in associates and joint ventures | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 196,228 | 114,498 | 115,344 |
Current period change | (35,892) | 66,366 | (846) |
Realization of OCI to P&L of discontinued operation | 15,364 | ||
Balance | 160,336 | 196,228 | 114,498 |
Actuarial Gains Losses From Defined Benefit Pension Plan | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | (27,670) | (123,489) | (185,154) |
Current period change | (51,763) | 95,819 | 61,665 |
Realization of OCI | (4,561) | ||
Balance | (83,994) | (27,670) | (123,489) |
Income tax relating to OCI | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 974,677 | 2,968,725 | 1,914,708 |
Current period change | (813,708) | 809,995 | 1,054,017 |
Realization of OCI to P&L of discontinued operation | (2,804,043) | ||
Realization of OCI | 476 | ||
Balance | $ 161,445 | $ 974,677 | $ 2,968,725 |
EQUITY ATTRIBUTABLE TO OWNER_17
EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT - Consolidated other comprehensive income - Non-controlling interest (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | $ 30,821,659 | $ 39,471,647 | $ 35,439,557 |
Balance | 31,520,416 | 30,821,659 | 39,471,647 |
Accumulated other comprehensive income including non-controlling interests | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | (988,925) | 2,173,950 | 1,721,191 |
Current period change | 655,171 | (1,733,550) | 452,759 |
Realization of OCI to P&L of discontinued operation | (1,429,325) | ||
Realization of OCI | (92,644) | ||
Balance | (426,398) | (988,925) | 2,173,950 |
Accumulated other comprehensive income attributable to non-controlling interests | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | 157,640 | 1,056,768 | 859,178 |
Current period change | (6,447) | (452,982) | 197,590 |
Realization of OCI to P&L of discontinued operation | (446,146) | ||
Realization of OCI | (33,372) | ||
Balance | 117,821 | 157,640 | 1,056,768 |
Accumulated other comprehensive income | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Balance | (1,146,565) | 1,117,182 | 862,013 |
Current period change | 661,618 | (1,280,568) | 255,169 |
Realization of OCI to P&L of discontinued operation | (983,179) | ||
Realization of OCI | (59,272) | ||
Balance | $ (544,219) | $ (1,146,565) | $ 1,117,182 |
NON-CONTROLLING INTEREST - Fina
NON-CONTROLLING INTEREST - Financial information (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of noncontrolling interest [line items] | |||
Non-controlling Interest share of equity | $ 14,737,744 | $ 14,354,689 | |
Non-controlling interest share of net income | 1,438,113 | 2,386,248 | $ 2,370,766 |
Dividends paid to non-controlling interest | $ (915,933) | $ (615,177) | $ (913,356) |
Corporacion Financiera Colombiana S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 59.47% | 59.47% | |
Non-controlling Interest share of equity | $ 9,835,593 | $ 9,347,843 | |
Non-controlling interest share of net income | 1,166,399 | 1,604,142 | |
Dividends paid to non-controlling interest | $ (555,084) | $ (427,370) | |
Banco de Bogota S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 31.07% | 31.07% | |
Non-controlling Interest share of equity | $ 2,395,427 | $ 2,602,543 | |
Non-controlling interest share of net income | 138,297 | 628,214 | |
Dividends paid to non-controlling interest | $ (256,413) | $ (121,337) | |
Banco de Occidente S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 27.73% | 27.73% | |
Non-controlling Interest share of equity | $ 1,296,543 | $ 1,234,275 | |
Non-controlling interest share of net income | 73,902 | 96,441 | |
Dividends paid to non-controlling interest | $ (61,931) | $ (44,202) | |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 24.24% | 24.24% | |
Non-controlling Interest share of equity | $ 689,306 | $ 603,288 | |
Non-controlling interest share of net income | 132,805 | 36,527 | |
Dividends paid to non-controlling interest | $ (128) | $ (3) | |
Banco Comercial AV Villas S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 20.13% | 20.13% | |
Non-controlling Interest share of equity | $ 328,655 | $ 349,487 | |
Non-controlling interest share of net income | (47,625) | 21,765 | |
Dividends paid to non-controlling interest | $ (4,673) | $ (16,225) | |
Banco Popular S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Country | Colombia | Colombia | |
Non-controlling Interest | 6.26% | 6.26% | |
Non-controlling Interest share of equity | $ 192,220 | $ 217,253 | |
Non-controlling interest share of net income | (25,665) | (841) | |
Dividends paid to non-controlling interest | $ (37,704) | $ (6,040) |
NON-CONTROLLING INTEREST - Non-
NON-CONTROLLING INTEREST - Non-controlling interests (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of noncontrolling interest [line items] | |||
Assets | $ 301,181,596 | $ 295,591,236 | |
Liabilities | 269,661,180 | 264,769,577 | |
Total income | 47,658,238 | 37,274,770 | $ 39,064,493 |
Net Income | 2,177,116 | 4,869,133 | 5,668,502 |
OCI - Controlling | 2,739,643 | 1,706,258 | 6,121,261 |
Cash flow from operating activities | 6,005,501 | (222,124) | $ 5,901,630 |
Corporacion Financiera Colombiana S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 57,281,194 | 54,030,318 | |
Liabilities | 41,759,075 | 39,158,937 | |
Total income | 21,924,701 | 13,466,165 | |
Net Income | 1,530,167 | 2,301,398 | |
OCI - Controlling | 518,906 | 355,507 | |
Cash flow from operating activities | 462,627 | 1,607,158 | |
Banco de Bogota S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 137,474,034 | 137,873,838 | |
Liabilities | 121,705,013 | 122,063,279 | |
Total income | 7,426,045 | 12,767,867 | |
Net Income | 968,934 | 2,806,268 | |
OCI - Controlling | (470,967) | (586,923) | |
Cash flow from operating activities | 4,939,701 | (3,276,271) | |
Banco de Occidente S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 68,601,785 | 60,004,409 | |
Liabilities | 62,913,703 | 54,788,335 | |
Total income | 3,751,270 | 5,799,384 | |
Net Income | 479,557 | 456,343 | |
OCI - Controlling | (70,255) | (311,542) | |
Cash flow from operating activities | 1,527,081 | (1,676,363) | |
Sociedad Administradora de Fondos de Pensiones y Cesantias Porvenir S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 3,571,979 | 3,522,732 | |
Liabilities | 700,357 | 1,056,580 | |
Total income | 1,184,591 | 972,508 | |
Net Income | 560,210 | 155,194 | |
OCI - Controlling | (14,502) | (60,646) | |
Cash flow from operating activities | 189,272 | 33,365 | |
Banco Comercial AV Villas S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 18,913,324 | 19,648,282 | |
Liabilities | 17,171,402 | 17,801,302 | |
Total income | 1,144,236 | 2,062,719 | |
Net Income | (241,004) | 103,774 | |
OCI - Controlling | 34,174 | (102,613) | |
Cash flow from operating activities | (382,392) | 274,563 | |
Banco Popular S.A. | |||
Disclosure of noncontrolling interest [line items] | |||
Assets | 85,370,710 | 32,667,378 | |
Liabilities | 67,656,734 | 29,449,526 | |
Total income | 39,314,924 | 3,406,454 | |
Net Income | (184,616) | 79,994 | |
OCI - Controlling | 21,218 | (80,101) | |
Cash flow from operating activities | $ 126,336 | $ (51,186) |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - Capital expenses commitments (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of commitments and contingencies [abstract] | ||
Contractual commitments for acquisition of property, plant and equipment | $ 11,205 | $ 18,118 |
Contractual commitments for acquisition of intangible assets | $ 45,043 | $ 45,186 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES - Contingencies (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 798,290 | $ 755,656 |
Legal provisions proceedings | ||
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | 124,012 | 123,603 |
Civil proceedings | ||
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | 344,152 | 273,795 |
Administrative and other proceedings | ||
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 330,126 | $ 358,258 |
COMMITMENTS AND CONTINGENCIES_3
COMMITMENTS AND CONTINGENCIES - Class action (Details) - COP ($) $ in Millions | Dec. 06, 2018 | Jul. 27, 2023 | Feb. 08, 2019 |
Disclosure of commitments and contingencies [abstract] | |||
Class action, defendants, fine | $ 800,156 | $ 715,656 | $ 715,656 |
Class action, defendants, debarred, term | 10 years |
COMMITMENTS AND CONTINGENCIES_4
COMMITMENTS AND CONTINGENCIES - Investigations (Details) - Aug. 10, 2023 $ in Millions, $ in Millions | USD ($) | COP ($) |
Disclosure of commitments and contingencies [abstract] | ||
Civil administrative resolutions liability | $ 60.6 | $ 253,033 |
NET INCOME FROM CONTRACTS WIT_3
NET INCOME FROM CONTRACTS WITH CUSTOMERS - Income and expenses (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income from contract with customers [abstract] | |||
Banking service fees | $ 1,663,340 | $ 1,533,322 | $ 1,364,835 |
Debit and credit card fees | 1,009,472 | 836,046 | 671,131 |
Pension and severance fund management | 978,504 | 885,420 | 1,199,068 |
Trust activities and portfolio management services | 463,194 | 353,285 | 336,637 |
Bonded warehouse services | 188,191 | 187,237 | 169,386 |
Commissions on transfers, checks and checkbooks | 22,941 | 25,181 | 25,187 |
Office network services | 21,638 | 24,935 | 18,914 |
Other commissions and fees | 9,056 | 29,013 | 10,771 |
Total income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 |
Banking services | (617,524) | (473,595) | (371,380) |
Sales and services commissions | (250,460) | (340,918) | (227,510) |
Fees paid to pension funds sales force | (70,335) | (97,470) | (87,499) |
Information processing services of operators | (29,905) | (24,320) | (22,940) |
Offices network services | (20,147) | (16,993) | (11,158) |
Other | (15,442) | (17,380) | (11,255) |
Total expenses from commissions and fees | (1,003,813) | (970,676) | (731,742) |
Net income from commissions and fees | $ 3,352,523 | $ 2,903,763 | $ 3,064,187 |
NET INCOME FROM CONTRACTS WIT_4
NET INCOME FROM CONTRACTS WITH CUSTOMERS - Income and cost for goods and services (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Income From Contract With Customers [Line Items] | |||
Total income from sales of good and services | $ 11,223,556 | $ 12,141,327 | $ 10,450,914 |
Cost of sales from companies from non-financial sector | (5,799,721) | (5,575,912) | (5,594,615) |
Allowance for impairment of loans and receivables | (51,035) | (59,073) | (51,064) |
General and administrative expenses | (989,313) | (843,125) | (647,425) |
Personnel expenses | (607,894) | (609,050) | (558,561) |
Amortization of intangible assets | (353,305) | (305,488) | (263,755) |
Depreciation of tangible assets | (90,344) | (103,972) | (117,246) |
Depreciation of right of use assets | (37,031) | (35,294) | (34,374) |
Employee bonuses | (14,376) | (11,569) | (38,766) |
Commissions and fees expenses | (39,466) | (34,646) | (27,886) |
Donations expenses | (19,858) | (16,739) | (16,178) |
Labor severances | (3,254) | (1,363) | (2,109) |
Total costs and expenses of sales goods and services | (8,005,597) | (7,596,231) | (7,351,979) |
Gross profit from sales of goods and services | 3,217,959 | 4,545,096 | 3,098,935 |
Energy and Gas | |||
Disclosure Of Income From Contract With Customers [Line Items] | |||
Income from goods and services from non-financial sector | 6,158,616 | 5,718,808 | 4,874,278 |
Infrastructure | |||
Disclosure Of Income From Contract With Customers [Line Items] | |||
Income from goods and services from non-financial sector | 3,954,197 | 5,330,193 | 4,662,912 |
Hotels | |||
Disclosure Of Income From Contract With Customers [Line Items] | |||
Income from goods and services from non-financial sector | 598,895 | 532,337 | 285,692 |
Agribusiness | |||
Disclosure Of Income From Contract With Customers [Line Items] | |||
Income from goods and services from non-financial sector | 296,804 | 340,984 | 218,511 |
Other services | |||
Disclosure Of Income From Contract With Customers [Line Items] | |||
Income from goods and services from non-financial sector | $ 215,044 | $ 219,005 | $ 409,521 |
NET TRADING INCOME (Details)
NET TRADING INCOME (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of net trading income [line items] | |||
Net trading (loss) income | $ (916,049) | $ 1,559,626 | $ 922,281 |
Derivatives [member] | |||
Disclosure of net trading income [line items] | |||
Net (loss) income on financial derivatives | (2,438,841) | 1,503,453 | 710,213 |
Other trading (loss) income | (142,291) | 26,402 | 86,969 |
Net trading (loss) income | (2,581,132) | 1,529,855 | 797,182 |
Trading securities [member] | |||
Disclosure of net trading income [line items] | |||
Fixed income (loss) securities | 1,030,809 | (60,797) | (135,465) |
Equities | 634,274 | 90,568 | 260,564 |
Net trading (loss) income | $ 1,665,083 | $ 29,771 | $ 125,099 |
OTHER INCOME AND EXPENSE - Othe
OTHER INCOME AND EXPENSE - Other income (Details) | 12 Months Ended | ||
Dec. 31, 2023 COP ($) $ / $ | Dec. 31, 2022 COP ($) $ / $ | Dec. 31, 2021 COP ($) $ / $ | |
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Foreign exchange gains (losses), net | $ 2,253,925,000,000 | $ (1,825,718,000,000) | $ (491,415,000,000) |
Share of profit of equity accounted investees, net of tax | 371,397,000,000 | 372,777,000,000 | 300,217,000,000 |
Gain on sale of properties, plant and equipment | 360,728,000,000 | 142,149,000,000 | 20,651,000,000 |
Dividends | 126,274,000,000 | 119,888,000,000 | 153,969,000,000 |
Net gain (loss) on sale of debt and equity securities | 108,773,000,000 | (134,699,000,000) | 83,640,000,000 |
Net gain (loss) on asset valuation | 74,886,000,000 | 50,463,000,000 | 20,974,000,000 |
Gain on the sale of non-current assets held for sale | 48,589,000,000 | 10,487,000,000 | 13,631,000,000 |
Other income | 406,734,000,000 | 416,082,000,000 | 288,013,000,000 |
Total other income | $ 3,751,306,000,000 | $ (848,571,000,000) | $ 389,680,000,000 |
Variation | (988.15) | 829.04 | 548.66 |
BAC Holding International Corp | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Other income | $ 137,427,000,000 |
OTHER INCOME AND EXPENSE - Ot_2
OTHER INCOME AND EXPENSE - Other expense (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other income and expense [abstract] | |||
Personnel expenses | $ (3,055,168) | $ (2,833,794) | $ (2,634,187) |
Taxes and fees | (1,214,559) | (872,341) | (678,613) |
Insurance | (618,197) | (524,557) | (480,879) |
Consultancy, audit and other fees | (537,972) | (479,043) | (447,130) |
Maintenance and repairs | (394,524) | (357,790) | (310,265) |
Amortization of intangible assets | (240,804) | (225,137) | (206,688) |
Marketing | (233,512) | (207,071) | (174,961) |
Depreciation of tangible assets | (218,230) | (219,316) | (209,296) |
Depreciation right of use assets | (211,457) | (201,293) | (190,883) |
Affiliation contributions and transfers | (168,986) | (252,942) | (212,952) |
Warehouse services | (148,633) | (144,739) | (135,625) |
Leases (Rent) | (144,276) | (134,691) | (131,552) |
Transportation services | (95,520) | (99,296) | (93,707) |
Data processing | (85,231) | (77,803) | (62,213) |
Losses due to claims | (83,728) | (39,435) | (40,409) |
Cleaning and security services | (80,904) | (74,276) | (73,852) |
Outsourcing services | (59,599) | (68,779) | (61,522) |
Supplies and stationary | (52,074) | (46,114) | (45,736) |
Loss from sale of property and equipment | (44,399) | (26,387) | (11,968) |
Donations expenses | (31,309) | (36,019) | (3,773) |
Adaptation and installation | (28,076) | (30,636) | (28,947) |
Travel expenses | (21,345) | (24,249) | (13,295) |
Impairment losses other assets | (2,946) | (20,787) | (69,950) |
Loss from sale of non-current assets held for sale | (595) | (800) | (2,927) |
Other | (574,410) | (412,488) | (468,726) |
Total other expense | $ (8,346,454) | $ (7,409,783) | $ (6,790,056) |
ANALYSIS OF OPERATING SEGMENT_2
ANALYSIS OF OPERATING SEGMENTS - General information (Details) - item | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of operating segments [abstract] | ||
Number of reportable segment | 4 | 8 |
ANALYSIS OF OPERATING SEGMENT_3
ANALYSIS OF OPERATING SEGMENTS - Statement of financial position (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||||
Trading assets | $ 15,451,121 | $ 11,841,407 | ||
Investment securities | 34,425,693 | 33,674,477 | ||
Hedging derivative assets | 48,662 | 20,854 | ||
Investments in associates and joint ventures | 1,290,683 | 1,423,343 | ||
Loans, net | 176,168,055 | 179,115,847 | ||
Other assets | 73,797,382 | 69,515,308 | ||
Total Assets | 301,181,596 | 295,591,236 | ||
Liabilities | ||||
Customer Deposits | 181,987,396 | 173,341,149 | ||
Financial obligations | 65,541,339 | 72,116,775 | ||
Other liabilities | 22,132,445 | 19,311,653 | ||
Total liabilities | 269,661,180 | 264,769,577 | ||
Cash and equivalents | 18,597,861 | 17,032,857 | $ 36,642,829 | $ 34,025,535 |
Intangible assets | 18,141,916 | 17,531,081 | ||
Other accounts receivable, net | 25,617,225 | 23,380,573 | ||
Tangible assets | 6,995,890 | 7,235,441 | 9,100,553 | |
Income tax assets | 3,877,749 | 3,633,876 | ||
Non-current assets held for sale | 101,184 | 92,830 | ||
Other assets | 465,557 | 608,650 | ||
Trading liabilities | 2,154,361 | 1,757,606 | ||
Hedging derivative liabilities | 217,566 | 3,568 | ||
Income tax liabilities | 5,814,987 | 5,291,487 | ||
Employee benefits | 907,808 | 890,019 | ||
Provisions | 1,083,283 | 1,227,171 | $ 1,150,261 | $ 912,850 |
Other liabilities | 11,954,440 | 10,141,802 | ||
Operating segments [member] | Banking Services | ||||
Assets | ||||
Trading assets | 8,987,130 | 5,689,416 | ||
Investment securities | 28,140,335 | 27,574,684 | ||
Hedging derivative assets | 47,975 | 107 | ||
Investments in associates and joint ventures | 11,825,193 | 11,326,522 | ||
Loans, net | 174,849,356 | 177,391,660 | ||
Other assets | 30,346,277 | 27,794,158 | ||
Total Assets | 254,196,266 | 249,776,547 | ||
Liabilities | ||||
Customer Deposits | 177,750,657 | 170,222,824 | ||
Financial obligations | 41,562,702 | 46,440,671 | ||
Other liabilities | 9,258,820 | 7,441,514 | ||
Total liabilities | 228,572,179 | 224,105,009 | ||
Operating segments [member] | Merchant Banking | ||||
Assets | ||||
Trading assets | 4,339,052 | 4,147,230 | ||
Investment securities | 4,323,998 | 3,364,143 | ||
Hedging derivative assets | 687 | 20,747 | ||
Investments in associates and joint ventures | 997,597 | 1,143,120 | ||
Loans, net | 2,660,449 | 2,455,471 | ||
Other assets | 44,959,411 | 42,899,607 | ||
Total Assets | 57,281,194 | 54,030,318 | ||
Liabilities | ||||
Customer Deposits | 8,169,647 | 6,589,578 | ||
Financial obligations | 21,455,386 | 21,296,089 | ||
Other liabilities | 12,134,042 | 11,273,270 | ||
Total liabilities | 41,759,075 | 39,158,937 | ||
Operating segments [member] | Pension and Severance Fund Management | ||||
Assets | ||||
Trading assets | 2,197,618 | 2,061,335 | ||
Investment securities | 470,474 | 528,607 | ||
Other assets | 903,887 | 932,790 | ||
Total Assets | 3,571,979 | 3,522,732 | ||
Liabilities | ||||
Customer Deposits | 1,287 | 1,124 | ||
Financial obligations | 97,565 | 444,647 | ||
Other liabilities | 601,505 | 610,809 | ||
Total liabilities | 700,357 | 1,056,580 | ||
Operating segments [member] | Holding | ||||
Assets | ||||
Trading assets | 256 | 764 | ||
Investment securities | 2,359,521 | 2,725,950 | ||
Investments in associates and joint ventures | 19,060,746 | 18,812,115 | ||
Loans, net | 1,239,785 | 1,505,904 | ||
Other assets | 411,537 | 282,691 | ||
Total Assets | 23,071,845 | 23,327,424 | ||
Liabilities | ||||
Financial obligations | 5,512,298 | 6,509,111 | ||
Other liabilities | 382,088 | 124,715 | ||
Total liabilities | 5,894,386 | 6,633,826 | ||
Elimination of intersegment amounts [member] | ||||
Assets | ||||
Trading assets | (72,935) | (57,338) | ||
Investment securities | (868,635) | (518,907) | ||
Investments in associates and joint ventures | (30,592,853) | (29,858,414) | ||
Loans, net | (2,581,535) | (2,237,188) | ||
Other assets | (2,823,730) | (2,393,938) | ||
Total Assets | (36,939,688) | (35,065,785) | ||
Liabilities | ||||
Customer Deposits | (3,934,195) | (3,472,377) | ||
Financial obligations | (3,086,612) | (2,573,743) | ||
Other liabilities | (244,010) | (138,655) | ||
Total liabilities | $ (7,264,817) | $ (6,184,775) |
ANALYSIS OF OPERATING SEGMENT_4
ANALYSIS OF OPERATING SEGMENTS - Statement of income (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income | |||
Interest income | $ 28,919,404 | $ 19,403,032 | $ 12,791,409 |
Income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 |
Income from sales of goods and services | 11,223,556 | 12,141,327 | 10,450,914 |
Share of profit of equity accounted investees, net of tax | 371,397 | 372,777 | 300,217 |
Dividends | 126,274 | 119,888 | 153,969 |
Net income from other financial instruments mandatorily at fair value through profit or loss | 323,685 | 278,751 | 270,095 |
Net trading income | (916,049) | 1,559,626 | 922,281 |
Foreign exchange gain (loss), net | 2,253,925 | (1,825,718) | (491,415) |
Other income | 999,710 | 484,482 | 426,909 |
Discontinued operations | 866,166 | 10,444,185 | |
Total external income | 47,658,238 | 37,274,770 | 39,064,493 |
Expenses | |||
Interest expense | (22,632,430) | (11,664,395) | (4,660,830) |
Net impairment loss on financial assets | (4,182,394) | (2,493,148) | (2,721,083) |
Depreciation and amortization | (670,491) | (645,746) | (606,867) |
Expenses from commissions and fees | (1,003,813) | (970,676) | (731,742) |
Costs and expenses of sales goods and services | (8,005,597) | (7,596,231) | (7,351,979) |
Personnel expenses | (3,055,168) | (2,833,794) | (2,634,187) |
Administrative expenses | (4,367,002) | (3,703,599) | (3,209,607) |
Income tax expense | (1,310,434) | (2,271,404) | (2,323,428) |
Other expense | (253,793) | (226,644) | (339,395) |
Discontinued operations | (8,816,873) | ||
Total Expenses | (45,481,122) | (32,405,637) | (33,395,991) |
Net income for the year | 2,177,116 | 4,869,133 | 5,668,502 |
Net gain on sale of debt and equity securities | 108,773 | (134,699) | 83,640 |
Gain on the sale of non-current assets held for sale | 48,589 | 10,487 | 13,631 |
Net gain in asset valuation | 74,886 | 50,463 | 20,974 |
Other operating income | 767,462 | 558,231 | 308,664 |
Loss from sale of non-current assets held for sale | (595) | (800) | (2,927) |
Other operating expenses | (253,198) | (225,844) | (336,468) |
Banking Services | |||
Income | |||
Interest income | 27,293,337 | 18,321,381 | 12,304,916 |
Income from commissions and fees | 3,243,740 | 2,865,336 | 2,506,789 |
Income from sales of goods and services | 107,864 | 88,093 | 85,268 |
Share of profit of equity accounted investees, net of tax | 41,277 | 41,904 | 25,486 |
Dividends | 11,252 | 17,696 | 11,551 |
Net trading income | (1,245,312) | 1,207,099 | 490,743 |
Foreign exchange gain (loss), net | 1,575,043 | (1,286,774) | (189,065) |
Other income | 817,906 | 583,001 | 411,634 |
Discontinued operations | 455,908 | ||
Total external income | 31,845,107 | 22,293,644 | 15,647,322 |
Expenses | |||
Interest expense | (19,260,207) | (9,602,059) | (3,745,070) |
Net impairment loss on financial assets | (4,170,048) | (2,447,198) | (2,714,672) |
Depreciation and amortization | (639,717) | (620,298) | (585,650) |
Expenses from commissions and fees | (910,751) | (767,204) | (625,788) |
Costs and expenses of sales goods and services | (443,840) | (487,142) | (479,775) |
Personnel expenses | (2,672,717) | (2,493,399) | (2,331,813) |
Administrative expenses | (4,185,245) | (3,569,706) | (3,131,934) |
Income tax expense | 184,941 | (405,748) | (601,377) |
Other expense | (212,354) | (178,160) | (98,699) |
Total Expenses | (32,309,938) | (20,570,914) | (14,314,778) |
Net income for the year | 827,173 | 2,910,450 | 5,298,672 |
Merchant Banking | |||
Income | |||
Interest income | 1,149,086 | 723,488 | 441,586 |
Income from commissions and fees | 134,252 | 127,609 | 94,244 |
Income from sales of goods and services | 11,069,075 | 11,986,518 | 10,309,563 |
Share of profit of equity accounted investees, net of tax | 326,328 | 326,448 | 272,646 |
Dividends | 115,022 | 102,192 | 142,418 |
Net income from other financial instruments mandatorily at fair value through profit or loss | 323,685 | 278,751 | 270,095 |
Net trading income | 34,383 | 388,350 | 207,794 |
Foreign exchange gain (loss), net | 692,134 | (483,627) | (243,430) |
Other income | 153,118 | (98,871) | 15,705 |
Total external income | 13,997,083 | 13,350,858 | 11,510,621 |
Expenses | |||
Interest expense | (3,471,779) | (2,030,256) | (1,028,343) |
Net impairment loss on financial assets | (28,175) | (14,266) | (9,177) |
Depreciation and amortization | (14,028) | (11,492) | (9,434) |
Expenses from commissions and fees | (16,104) | (17,175) | (13,587) |
Costs and expenses of sales goods and services | (7,498,858) | (7,059,820) | (6,830,460) |
Personnel expenses | (147,303) | (123,104) | (107,959) |
Administrative expenses | (178,885) | (126,670) | (100,585) |
Income tax expense | (1,268,268) | (1,753,733) | (1,476,571) |
Other expense | (8,459) | (28,251) | (112,146) |
Total Expenses | (12,631,859) | (11,164,767) | (9,688,262) |
Net income for the year | 1,530,167 | 2,301,398 | 1,849,023 |
Pension and Severance Fund Management | |||
Income | |||
Interest income | 117,076 | 98,302 | 44,907 |
Income from commissions and fees | 978,344 | 881,494 | 1,194,305 |
Income from sales of goods and services | 46,617 | 66,716 | 56,083 |
Net trading income | 294,784 | (35,975) | 223,745 |
Foreign exchange gain (loss), net | (11,757) | (54,771) | (59,150) |
Other income | 28,419 | (738) | (1,297) |
Total external income | 1,453,483 | 955,028 | 1,458,593 |
Expenses | |||
Interest expense | (56,927) | (63,207) | (40,247) |
Net impairment loss on financial assets | 1,965 | (7,782) | (6,943) |
Depreciation and amortization | (16,786) | (14,486) | (15,637) |
Expenses from commissions and fees | (104,773) | (193,124) | (131,503) |
Costs and expenses of sales goods and services | (79,794) | (63,049) | |
Personnel expenses | (195,469) | (168,450) | (172,539) |
Administrative expenses | (259,331) | (195,071) | (232,314) |
Income tax expense | (172,943) | (92,993) | (191,886) |
Other expense | (32,721) | (19,152) | (105,961) |
Total Expenses | (916,779) | (817,314) | (897,030) |
Net income for the year | 560,209 | 155,194 | 580,203 |
Holding | |||
Income | |||
Interest income | 359,905 | 259,861 | |
Income from commissions and fees | 591 | ||
Share of profit of equity accounted investees, net of tax | 3,792 | 4,425 | 2,085 |
Net trading income | 96 | 152 | (1) |
Foreign exchange gain (loss), net | (1,495) | (546) | 230 |
Other income | 267 | 1,090 | 867 |
Discontinued operations | (134,632) | ||
Total external income | 362,565 | 130,350 | 3,772 |
Expenses | |||
Interest expense | (519,869) | (517,383) | (443,209) |
Net impairment loss on financial assets | 12,578 | (23,840) | |
Depreciation and amortization | (1,736) | (1,766) | (1,811) |
Expenses from commissions and fees | (430) | (19,992) | (563) |
Personnel expenses | (39,779) | (48,933) | (37,293) |
Administrative expenses | (67,494) | (116,899) | (99,532) |
Income tax expense | (56,966) | (18,802) | (53,555) |
Other expense | 82,111 | (1,185) | (439) |
Total Expenses | (591,585) | (748,800) | (636,402) |
Net income for the year | 738,800 | 2,349,674 | 3,503,127 |
BAC Holding International Corp | |||
Income | |||
Discontinued operations | 544,890 | 10,444,185 | |
Total external income | 544,890 | 10,444,185 | |
Expenses | |||
Discontinued operations | (8,816,873) | ||
Total Expenses | (8,816,873) | ||
Net income for the year | 544,890 | 1,691,418 | |
Operating segments [member] | Banking Services | |||
Income | |||
Total external income | 33,137,111 | 23,481,364 | 19,613,450 |
Operating segments [member] | Merchant Banking | |||
Income | |||
Total external income | 14,162,026 | 13,466,165 | 11,537,285 |
Operating segments [member] | Pension and Severance Fund Management | |||
Income | |||
Total external income | 1,476,988 | 972,508 | 1,477,233 |
Operating segments [member] | Holding | |||
Income | |||
Total external income | 1,330,385 | 3,098,474 | 4,139,529 |
Operating segments [member] | BAC Holding International Corp | |||
Income | |||
Total external income | 544,890 | 10,508,291 | |
Elimination of intersegment amounts [member] | |||
Income | |||
Interest income | (569,696) | (530,837) | (593,536) |
Income from commissions and fees | (324,001) | (312,089) | (309,178) |
Income from sales of goods and services | (42,541) | (32,401) | (26,818) |
Share of profit of equity accounted investees, net of tax | (1,473,062) | (2,800,365) | (4,270,858) |
Dividends | (1,902) | (2,174) | (2,306) |
Net trading income | (7,597) | 2,026 | 4,345 |
Foreign exchange gain (loss), net | 250 | ||
Gain on deconsolidation (loss of control) of subsidiaries | (1,303,024) | ||
Other income | (29,473) | (16,143) | (18,752) |
Discontinued operations | (596,648) | (1,691,418) | |
Total external income | (2,448,272) | (4,288,631) | (8,211,295) |
Expenses | |||
Interest expense | 676,352 | 548,510 | 596,039 |
Net impairment loss on financial assets | 1,286 | (62) | 9,709 |
Depreciation and amortization | 1,776 | 2,296 | 5,665 |
Expenses from commissions and fees | 28,245 | 26,819 | 39,699 |
Costs and expenses of sales goods and services | 16,895 | 13,780 | (41,744) |
Personnel expenses | 100 | 92 | 15,417 |
Administrative expenses | 323,953 | 304,747 | 354,758 |
Income tax expense | 2,802 | (128) | (39) |
Other expense | (82,370) | 104 | (22,150) |
Total Expenses | 969,039 | 896,158 | 957,354 |
Net income for the year | (1,479,233) | (3,392,473) | (7,253,941) |
Elimination of intersegment amounts [member] | Banking Services | |||
Income | |||
Interest income | 376,228 | 240,317 | 120,669 |
Income from commissions and fees | 29,127 | 23,981 | 20,209 |
Income from sales of goods and services | 2,324 | 26,225 | 19,768 |
Share of profit of equity accounted investees, net of tax | 830,683 | 884,067 | 862,945 |
Dividends | 453 | 298 | 267 |
Net trading income | 80 | (2,040) | |
Gain on deconsolidation (loss of control) of subsidiaries | 1,303,024 | ||
Other income | 53,109 | 12,832 | 13,974 |
Discontinued operations | 1,627,312 | ||
Total external income | 1,292,004 | 1,187,720 | 3,966,128 |
Elimination of intersegment amounts [member] | Merchant Banking | |||
Income | |||
Interest income | 158,256 | 110,250 | 22,353 |
Income from commissions and fees | 1,979 | 1,502 | 1,821 |
Income from sales of goods and services | 1,844 | 1,603 | 933 |
Share of profit of equity accounted investees, net of tax | (341) | 427 | 1,139 |
Dividends | 1,449 | 1,876 | 2,039 |
Net trading income | 2,202 | (387) | (318) |
Foreign exchange gain (loss), net | (250) | ||
Other income | (446) | 36 | (1,053) |
Total external income | 164,943 | 115,307 | 26,664 |
Elimination of intersegment amounts [member] | Pension and Severance Fund Management | |||
Income | |||
Interest income | 3,588 | 7,958 | 5,308 |
Income from commissions and fees | 254 | 3,682 | 3,508 |
Income from sales of goods and services | 38,373 | 4,573 | 6,117 |
Net trading income | 5,315 | (1,639) | (1,987) |
Other income | (24,025) | 2,906 | 5,694 |
Total external income | 23,505 | 17,480 | 18,640 |
Elimination of intersegment amounts [member] | Holding | |||
Income | |||
Interest income | 31,624 | 172,312 | 445,206 |
Income from commissions and fees | 292,641 | 282,924 | 283,640 |
Share of profit of equity accounted investees, net of tax | 642,720 | 1,915,871 | 3,406,774 |
Other income | 835 | 369 | 137 |
Discontinued operations | 596,648 | ||
Total external income | $ 967,820 | $ 2,968,124 | 4,135,757 |
Elimination of intersegment amounts [member] | BAC Holding International Corp | |||
Income | |||
Discontinued operations | 64,106 | ||
Total external income | $ 64,106 |
ANALYSIS OF OPERATING SEGMENT_5
ANALYSIS OF OPERATING SEGMENTS - Revenue from contracts with customers (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | $ 15,579,892 | $ 16,015,766 | $ 14,246,843 |
Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 606,015 | 567,374 | 460,204 |
Goods or services transferred over time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 14,973,877 | 15,448,392 | 13,786,639 |
Operating segments [member] | Banking Services | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 3,383,055 | 3,003,635 | 2,632,034 |
Operating segments [member] | Banking Services | Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 142,134 | 318,011 | 273,025 |
Operating segments [member] | Banking Services | Goods or services transferred over time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 3,240,921 | 2,685,624 | 2,359,009 |
Operating segments [member] | Merchant Banking | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 11,207,150 | 12,117,232 | 10,406,561 |
Operating segments [member] | Merchant Banking | Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 400,146 | 193,572 | 139,770 |
Operating segments [member] | Merchant Banking | Goods or services transferred over time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 10,807,004 | 11,923,660 | 10,266,791 |
Operating segments [member] | Pension and Severance Fund Management | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 1,063,588 | 956,465 | 1,260,013 |
Operating segments [member] | Pension and Severance Fund Management | Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 75,527 | 62,743 | 54,701 |
Operating segments [member] | Pension and Severance Fund Management | Goods or services transferred over time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 988,061 | 893,722 | 1,205,312 |
Operating segments [member] | Holding | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 292,641 | 282,924 | 284,231 |
Operating segments [member] | Holding | Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | 292,641 | 282,924 | 284,231 |
Elimination of intersegment amounts [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | (366,542) | (344,490) | (335,996) |
Elimination of intersegment amounts [member] | Goods or services transferred at point in time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | (304,433) | (289,876) | (291,523) |
Elimination of intersegment amounts [member] | Goods or services transferred over time [member] | |||
Disclosure of operating segments [line items] | |||
Revenue from contracts with customers | $ (62,109) | $ (54,614) | $ (44,473) |
ANALYSIS OF OPERATING SEGMENT_6
ANALYSIS OF OPERATING SEGMENTS - Income by country (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Interest income | $ 28,919,404 | $ 19,403,032 | $ 12,791,409 |
Income from commissions and fees | 4,356,336 | 3,874,439 | 3,795,929 |
Commissions on banking services | 1,663,340 | 1,533,322 | 1,364,835 |
Fees on credit cards | 1,009,472 | 836,046 | 671,131 |
Pension and severance fund management | 978,504 | 885,420 | 1,199,068 |
Trust activities | 463,194 | 353,285 | 336,637 |
Storage services | 188,191 | 187,237 | 169,386 |
Commissions on drafts, checks and checkbooks | 22,941 | 25,181 | 25,187 |
Office network services | 21,638 | 24,935 | 18,914 |
Other commissions | 9,056 | 29,013 | 10,771 |
Share of profit of equity accounted investees, net of tax | 371,397 | 372,777 | 300,217 |
Dividends | 126,274 | 119,888 | 153,969 |
Income from sales of goods and services | 11,223,556 | 12,141,327 | 10,450,914 |
Other income | 2,661,271 | 497,141 | 1,127,870 |
Total income from continuing operations | 36,408,604 | 28,620,308 | |
Discontinued operations | 866,166 | 10,444,185 | |
Total income | 47,658,238 | 37,274,770 | 39,064,493 |
Energy And Gas E & G | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 6,158,616 | 5,718,808 | 4,874,278 |
Infrastructure [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 3,954,197 | 5,330,193 | 4,662,912 |
Hotels [Member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 598,895 | 532,337 | 285,692 |
Agribusiness [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 296,804 | 340,984 | 218,511 |
Others services [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 215,044 | 219,005 | 409,521 |
Colombia | |||
Disclosure of operating segments [line items] | |||
Interest income | 26,954,361 | 17,882,243 | 11,683,436 |
Income from commissions and fees | 4,196,458 | 3,731,370 | 3,681,566 |
Commissions on banking services | 1,526,772 | 1,410,232 | 1,264,012 |
Fees on credit cards | 986,721 | 816,587 | 658,030 |
Pension and severance fund management | 978,504 | 885,420 | 1,199,068 |
Trust activities | 463,194 | 353,285 | 336,637 |
Storage services | 188,191 | 187,237 | 169,386 |
Commissions on drafts, checks and checkbooks | 22,382 | 24,661 | 24,748 |
Office network services | 21,638 | 24,935 | 18,914 |
Other commissions | 9,056 | 29,013 | 10,771 |
Share of profit of equity accounted investees, net of tax | 371,397 | 372,777 | 300,217 |
Dividends | 119,988 | 108,343 | 148,091 |
Income from sales of goods and services | 10,305,957 | 11,198,953 | 9,416,207 |
Other income | 2,500,392 | 370,640 | 966,253 |
Total income from continuing operations | 33,664,326 | 26,195,770 | |
Discontinued operations | 866,166 | 10,444,185 | |
Total income | 44,448,553 | 34,530,492 | 36,639,955 |
Colombia | Energy And Gas E & G | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 5,263,794 | 4,797,942 | 3,850,399 |
Colombia | Infrastructure [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 3,954,197 | 5,330,193 | 4,662,912 |
Colombia | Hotels [Member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 576,118 | 510,829 | 274,864 |
Colombia | Agribusiness [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 296,804 | 340,984 | 218,511 |
Colombia | Others services [member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 215,044 | 219,005 | 409,521 |
Panama | |||
Disclosure of operating segments [line items] | |||
Interest income | 1,852,433 | 1,445,425 | 1,058,684 |
Income from commissions and fees | 157,526 | 140,491 | 110,506 |
Commissions on banking services | 134,216 | 120,512 | 96,966 |
Fees on credit cards | 22,751 | 19,459 | 13,101 |
Commissions on drafts, checks and checkbooks | 559 | 520 | 439 |
Dividends | 6,286 | 11,545 | 5,878 |
Other income | 155,595 | 115,657 | 158,525 |
Total income from continuing operations | 1,713,118 | 1,333,593 | |
Total income | 2,171,840 | 1,713,118 | 1,333,593 |
BARBADOS | |||
Disclosure of operating segments [line items] | |||
Interest income | 62,818 | 41,664 | 27,652 |
Income from commissions and fees | 2,116 | 2,398 | 2,664 |
Commissions on banking services | 2,116 | 2,398 | 2,664 |
Other income | (294) | (616) | 2,009 |
Total income from continuing operations | 43,446 | 32,325 | |
Total income | 64,640 | 43,446 | 32,325 |
Peru | |||
Disclosure of operating segments [line items] | |||
Interest income | 49,582 | 33,550 | 21,037 |
Income from commissions and fees | 119 | 46 | 786 |
Commissions on banking services | 119 | 46 | 786 |
Income from sales of goods and services | 917,599 | 942,374 | 1,034,707 |
Other income | 5,584 | 11,146 | 881 |
Total income from continuing operations | 987,116 | 1,057,411 | |
Total income | 972,884 | 987,116 | 1,057,411 |
Peru | Energy And Gas E & G | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 894,822 | 920,866 | 1,023,879 |
Peru | Hotels [Member] | |||
Disclosure of operating segments [line items] | |||
Income from goods and services from non-financial sector | 22,777 | 21,508 | 10,828 |
Other countries | |||
Disclosure of operating segments [line items] | |||
Interest income | 210 | 150 | 600 |
Income from commissions and fees | 117 | 134 | 407 |
Commissions on banking services | 117 | 134 | 407 |
Other income | (6) | 314 | 202 |
Total income from continuing operations | 598 | 1,209 | |
Total income | $ 321 | $ 598 | $ 1,209 |
ANALYSIS OF OPERATING SEGMENT_7
ANALYSIS OF OPERATING SEGMENTS - Non-current assets by country (Details) - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of operating segments [line items] | |||
Tangible assets | $ 6,995,890 | $ 7,235,441 | $ 9,100,553 |
Intangible assets | 18,141,916 | 17,531,081 | |
Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of operating segments [line items] | |||
Tangible assets | 4,427,803 | 4,730,242 | $ 6,154,168 |
Intangible assets | 18,141,916 | 17,531,081 | |
Colombia | Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of operating segments [line items] | |||
Tangible assets | 3,979,113 | 4,173,701 | |
Intangible assets | 15,303,358 | 14,239,986 | |
Panama | Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of operating segments [line items] | |||
Tangible assets | 326,976 | 431,409 | |
Intangible assets | 258,404 | 334,463 | |
Peru | Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of operating segments [line items] | |||
Tangible assets | 121,544 | 124,953 | |
Intangible assets | 2,579,249 | 2,956,379 | |
BARBADOS | Property, plant and equipment not subject to operating leases [member] | |||
Disclosure of operating segments [line items] | |||
Tangible assets | 170 | 179 | |
Intangible assets | $ 905 | $ 253 |
UNCONSOLIDATED STRUCTURED ENT_3
UNCONSOLIDATED STRUCTURED ENTITIES (Details) - COP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of unconsolidated structured entities [line items] | ||
Percentage of total assets | 2.08% | 2.05% |
Unconsolidated structured entities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | $ 6,279,287 | $ 6,059,447 |
Grupo Aval's maximum exposure | 6,279,287 | 6,059,447 |
Unconsolidated structured entities [member] | Financial assets at fair value through profit or loss, category [member] | Investment securities at fair value [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 6,247,125 | 6,029,585 |
Unconsolidated structured entities [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 32,162 | 29,862 |
Managed funds [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 3,711,655 | 4,457,150 |
Grupo Aval's maximum exposure | 3,711,655 | 4,457,150 |
Managed funds [member] | Financial assets at fair value through profit or loss, category [member] | Investment securities at fair value [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 3,680,026 | 4,427,288 |
Managed funds [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 31,629 | 29,862 |
Funds managed by other entities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 2,567,632 | 1,602,297 |
Grupo Aval's maximum exposure | 2,567,632 | 1,602,297 |
Funds managed by other entities [member] | Financial assets at fair value through profit or loss, category [member] | Investment securities at fair value [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | 2,567,099 | $ 1,602,297 |
Funds managed by other entities [member] | Financial assets at amortised cost, category [member] | Other accounts receivable at amortized cost [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total assets in relation to the Grupo Aval's interests in the unconsolidated structured entities | $ 533 |
TRANSFERS OF FINANCIAL ASSETS (
TRANSFERS OF FINANCIAL ASSETS (Details) - Debt securities [member] - COP ($) $ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 2,853,286 | $ 2,000,025 |
Financial assets at fair value through profit or loss, classified as held for trading, category, International Financial Reporting Standards 9 [member] | Pledged in money market operations and pledged as collateral to special entities such as CRCC, BR and BVC | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 2,853,286 | 1,998,733 |
Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 3,208,890 | 1,379,758 |
Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 10,789,962 | 7,723,412 |
Financial assets measured at fair value through other comprehensive income, category [member] | Pledged in money market operations and pledged as collateral to special entities such as CRCC, BR and BVC | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 10,786,312 | $ 7,713,235 |
RELATED PARTIES - General infor
RELATED PARTIES - General information (Details) - COP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Assets | ||||
Cash and equivalents | $ 18,597,861 | $ 17,032,857 | $ 36,642,829 | $ 34,025,535 |
Other assets | 465,557 | 608,650 | ||
Liabilities | ||||
Deposits | 181,987,396 | 173,341,149 | ||
Financial obligations | 65,541,339 | 72,116,775 | ||
Other liabilities | 11,954,440 | 10,141,802 | ||
IBR rate 3M | ||||
Liabilities | ||||
Loans receivable, related party | $ 202,371 | $ 201,954 | ||
Loan receivable term | 24 months | 24 months | ||
Variable rate | 4.50% | 4.50% | ||
SOFR rate 3M | ||||
Liabilities | ||||
Loans receivable, related party | $ 1,037,413 | $ 1,303,971 | ||
Loan receivable term | 36 months | 36 months | ||
Variable rate | 3.50% | 3.50% | ||
Individuals with Control Over Entity [Member] | ||||
Assets | ||||
Financial assets in credit operations | $ 14,141 | $ 18,375 | ||
Accounts receivable | 28 | 35 | ||
Liabilities | ||||
Deposits | 187,385 | 260,079 | ||
Accounts payable | 683 | 292 | ||
Financial obligations | 85 | 13 | ||
Key management personnel of entity or parent [member] | ||||
Assets | ||||
Financial assets in credit operations | 7,537 | 8,822 | ||
Accounts receivable | 12 | 19 | ||
Liabilities | ||||
Deposits | 27,531 | 29,704 | ||
Accounts payable | 314 | 214 | ||
Financial obligations | 1,237 | 74 | ||
Associates [member] | ||||
Assets | ||||
Investments | 1,533,531 | 1,798,710 | ||
Financial assets in credit operations | 742,607 | 553,830 | ||
Accounts receivable | 34,908 | 14,288 | ||
Other assets | 12,651 | 7,941 | ||
Liabilities | ||||
Deposits | 95,101 | 176,414 | ||
Accounts payable | 20,173 | 19,983 | ||
Financial obligations | 3 | |||
Other liabilities | 61 | 7,032 | ||
Entities controlled by individuals [Member] | ||||
Assets | ||||
Cash and equivalents | 863 | 292 | ||
Investments | 2,008,318 | 3,047,516 | ||
Financial assets in credit operations | 2,884,514 | 3,228,184 | ||
Accounts receivable | 1,945,671 | 2,154,112 | ||
Other assets | 59,511 | 28,290 | ||
Liabilities | ||||
Deposits | 1,420,051 | 1,099,251 | ||
Accounts payable | 417,908 | 153,676 | ||
Financial obligations | 4,774 | 20,279 | ||
Other liabilities | 53 | 114 | ||
Entities with joint control or significant influence over entity [member] | ||||
Assets | ||||
Financial assets in credit operations | 138,645 | 161,569 | ||
Accounts receivable | 68 | 6 | ||
Other assets | 3,028 | |||
Liabilities | ||||
Deposits | 15,432 | 14,351 | ||
Accounts payable | $ 2 | $ 5,033 |
RELATED PARTIES - Transactions
RELATED PARTIES - Transactions (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income | |||
Interest income | $ 28,919,404 | $ 19,403,032 | $ 12,791,409 |
Fee income and commissions | 4,356,336 | 3,874,439 | 3,795,929 |
Expenses | |||
Fee expenses and commissions | (1,003,813) | (970,676) | (731,742) |
Other expenses | (8,346,454) | (7,409,783) | (6,790,056) |
Individuals with Control Over Entity [Member] | |||
Income | |||
Interest income | 550 | 501 | 294 |
Fee income and commissions | 4 | 3 | 4 |
Other income | 3 | 5 | 7 |
Expenses | |||
Finance expenses | (4,412) | (2,458) | (857) |
Fee expenses and commissions | (4) | (4) | (4) |
Operating expenses | (706) | (905) | (308) |
Other expenses | (11) | (8) | (3) |
Key management personnel of entity or parent [member] | |||
Income | |||
Interest income | 611 | 578 | 439 |
Fee income and commissions | 25 | 69 | 51 |
Other income | 14 | 6 | 14 |
Expenses | |||
Finance expenses | (3,581) | (2,253) | (391) |
Fee expenses and commissions | (2,801) | (2,153) | (1,862) |
Operating expenses | (15,735) | (11,277) | (9,829) |
Other expenses | (8) | (3,190) | (2,868) |
Associates [member] | |||
Income | |||
Interest income | 92,029 | 45,585 | 18,333 |
Fee income and commissions | 28,853 | 29,161 | 30,417 |
Leases | 1,574 | 1,499 | 1,459 |
Other income | 480,565 | 510,803 | 340,583 |
Expenses | |||
Finance expenses | (10,337) | (13,370) | (1,034) |
Fee expenses and commissions | (91,646) | (59,554) | (39,278) |
Operating expenses | (408) | (502) | (327) |
Other expenses | (173,899) | (213,080) | (84,328) |
Entities controlled by individuals [Member] | |||
Income | |||
Interest income | 618,120 | 342,962 | 60,964 |
Fee income and commissions | 157,205 | 169,629 | 120,642 |
Leases | 76 | 81 | |
Other income | 30,809 | 28,818 | 15,867 |
Expenses | |||
Finance expenses | (80,165) | (119,330) | (31,879) |
Fee expenses and commissions | (4,044) | (5,028) | (1,466) |
Operating expenses | (5,517) | (3,181) | (2,648) |
Other expenses | (100,632) | (98,920) | (49,364) |
Entities with joint control or significant influence over entity [member] | |||
Income | |||
Interest income | 24,009 | 20,418 | 11,224 |
Fee income and commissions | 33 | 6 | 6 |
Other income | 51 | 36 | 20 |
Expenses | |||
Finance expenses | (281) | (211) | (127) |
Fee expenses and commissions | $ (171) | (400) | $ (338) |
Other expenses | $ (35) |
RELATED PARTIES - Compensation
RELATED PARTIES - Compensation of key management personnel (Details) - COP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |||
Salaries | $ 36,222 | $ 34,852 | $ 34,250 |
Short term benefits for employees | 6,741 | 17,686 | 14,761 |
Termination benefits | 8,754 | ||
Long term benefits for employees | 425 | ||
Fee | 2,418 | 1,917 | 1,871 |
Total | $ 54,135 | $ 54,455 | $ 51,307 |
SUBSEQUENT EVENTS (Details)
SUBSEQUENT EVENTS (Details) - COP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Mar. 20, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of non-adjusting events after reporting period [abstract] | |||||
Net income for the period | $ 723,037 | $ 2,541,179 | $ 3,502,758 | $ 2,399,001 | |
Occasional reserve release at the disposal of the General Meeting of Shareholders | 7,220,883 | ||||
Total Income available for disposal of the General Meeting of Shareholders | $ 7,943,920 | ||||
Declared dividends information | To distribute a cash profit of Ps. 2 per share per month during the months of April 2024 to March 2025, both months included over 23,743,475,754 shares subscribed and paid as of the date of this meeting. | ||||
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share, per installment | $ 2 | $ 3.60 | $ 4.50 | ||
Total declared dividends | $ 569,843 | $ 1,025,718 | $ 1,203,175 | $ 1,203,175 | |
Total shares outstanding | 23,743,475,754 | 23,743,475,754 | 23,743,475,754 | 22,281,017,159 | 22,281,017,159 |
To Occasional reserve at the disposal of General Meeting of Shareholders | $ 7,374,077 |