Banco Davivienda, S.A. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
August 22, 2016
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Banco Davivienda, S.A. reported consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company’s total income was COP 2,195 billion against COP 1,562 billion a year ago. Net income was COP 403 billion against COP 210 billion a year ago. Income before Tax was COP 600 billion. Operating income in second quarter 2016 totaled COP 283.5 billion, down 9.7% from first quarter 2016 as a result of the lower income in sale of investments income COP 29 billion. Profitability measured based on average assets was 1.74%, 16 basis points above the ROAA at the end of first quarter 2016 and 48 basis points compared to second quarter 2015.
For the six months, the company’s total income was COP 4,312 billion against COP 3,121 billion a year ago. Net income was COP 827 billion against COP 584 billion a year ago. Income before Tax was COP 600 billion against COP 1,189 billion. Accumulated operating income totaled COP 597.5 billion, up 25.9% from first half 2016, based on which the indicator of commissions and services over total income 26 stood at 16.5%, 62 basis points lower than recorded at the end of first quarter 2016.
Banco Davivienda SA is a Colombia-based banking institution. The Bankâs products and services include savings and current accounts, consumer and commercial loans, credit and debit cards, mortgages, fixed-term deposits, portfolio management, foreign trade financing and a variety of insurance policies, as well as other banking operations to individuals and businesses. As of December 31, 2012, the Bank operated a network of 572 branch offices located nationwide and one in the United States. It also owned such subsidiaries as Fiduciaria Davivienda SA, Dadivalores SA, Bancafe Panama SA and Fiduciaria Cafetera SA, among others. In addition, Grupo Empresarial Bolivar was the Companyâs major shareholder.
BANCO DAVIVIENDA S.A. 
