Colombia’s financial institutions posted a combined profit of COP4.8 trillion (US$2.41 billion) in the first 10 months of the year, up 15% from COP4.17 trillion in the same period in 2008, the country’s banking regulator said Tuesday.
Locally owned private-sector banks reported COP2.81 trillion in profit in the January-October period, up 0.7% from COP2.79 trillion in the same period last year.
Non-consolidated profit of Bancolombia SA, the country’s largest bank, fell 7.6% to COP827 billion in the first 10 months of the year, down from COP894 billion in the same period a year ago.
Banco de Bogota, the country’s second-largest bank, posted a profit of COP627 billion in the first 10 months of the year, up 11% from the same period last year when it booked a profit of COP567 billion.
The profit of foreign banks with operations in Colombia rose 36% to COP670 billion in the first 10 months of the year from the same period last year.
The local unit of Spain’s BBVA reported the biggest profit among foreign banks, posting a profit of COP330 billion in the first 10 months of the year, up 7.4% from COP307 billion registered in the same period last year.
The profit of the Colombian unit of U.S.-based Citigroup Inc. jumped 67% to COP199 billion in the first nine months of the year from COP119 billion in the same period of last year.
Spanish bank Banco Santander SA’s Colombian unit reported a profit in the first 10 months of the year of COP78 billion, 95% higher than in the same period a year ago.
The local unit of HSBC Holdings PLC reported a net loss of COP24.2 billion, compared with a net loss of COP24.4 billion in the first 10 months of last year.
