Colombia’s financial sector posted profits of $10.7 billion between January and April.
According to a report by the Financial Superintendence, in the first four months of 2012 the Colombian financial industry made $10.7 billion, $8.5 billion of which came from administrated pension fund assets with the remaining $2.2 billion gained from monitored financial entities.
Profits that stood out were from Obligatory Pension Funds as 78% of their operating profits come from investments which greatly appreciated in value.
In April assets in the financial sector, including funds administered by supervised financial entities, reached $435.8 billion which translated into a real growth rate of 12.2% and a nominal growth rate of 16.1%.
The biggest contributor to the asset growth rate came from investments which registered a real growth rate of 8.2% and a nominal growth rate of 11.9% ascending to $209.5 billion.
