Banco Davivienda, S.A. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
November 24, 2016
Share
Banco Davivienda, S.A. reported consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported financial income of COP 2,192 billion against COP 1,624 billion a year ago. Operating income was COP 285 billion against COP 245 billion a year ago. Profit before taxes was COP 524 billion against COP 461 billion a year ago. Net profit was COP 363 billion against COP 333 billion a year ago. Return on average equity (ROAE) was 16.8% against 12.5% reached at the close of third quarter of 2015.
For the nine months, the company reported financial income of COP 6,503 billion. Operating income was COP 883 billion. Profit before taxes was COP 1,713 billion. Net profit was COP 1,190 billion.
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. 
