- Net interest income increased 19% compared to 2Q11 and 3% compared to 1Q12. These increases are the result of loan growth coupled with an expansion of the net interest margin, which ended the period at 6.2%.
- Net loans increased 17% compared to 2Q11. This variation confirms the sustained loan demand in Colombia, although it already reflects some moderation in growth due to more stringent standards for granting loans.
- Past due loans as a percentage of total loans continues being low. 30 days (or more) past due loans as a percentage of total gross loans was 3.0%. Loan deterioration during 2Q12 was COP 383 billion, and net provision charges for past due loans and foreclosed assets totaled COP 310 billion, which represents 2.0% of gross loans when annualized.
- The balance sheet remains strong. Loan loss reserves represented 4.9% of total gross loans and 163% of past due loans at the end of 2Q12. The capital adequacy ratio ended the quarter at 14.9% (Tier 1 of 11.6%).
Bancolombia S.A. Reports Consolidated Net Income Of COP 354 Billion For The Second Quarter Of 2012 (COP 416 Per Share - USD 0.93 Per ADR), Which Represents A Decrease Of 8% Compared To The Same Quarter Last Year
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