Colombian bank AV Villas recorded profits of $19.8 million during the first three months of 2011, representing an 18.9% increase on the same period last year when profits were recorded as $16.9 million, El Espectador reported Tuesday.
The financial institution stated that these profits are the result of its response to high demand for credit from Colombian individuals and businesses.
The president of the bank Juan Camilo Angel Mejia said these results are due to sustained growth in the bank’s various lines of credit (consumer credit, credit to businesses and mortgages), a high quality portfolio and the hundreds of thousands of Colombians who deposit their savings in AV Villas.
Angel Mejia reiterated AV Villa’s commitment to facilitate more people using banking services and products by placing customer care points close to places in residential areas and using technology to make banking services more accessible.
Banco AV Villas is part of Grupo Aval which controls four other banks in Colombia.
