Bancolombia S.A. announced the establishment and commercial registration of the corporation (sociedad anónima) Nequi S.A. Financial Company (Nequi), following the authorization received by the Financial Superintendence of Colombia disclosed to the market on August 1, 2022. Nequi is a company domiciled in Colombia whose purpose is to undertake the activities of financial companies. The next step in the process is to certify the fulfillment of all activities required to obtain the authorization certificate or operating permit from the Financial Superintendence of Colombia, upon request, which must be submitted no later than July 2023.

Grupo Bancolombia owns 100% of the equity interest in the capital stock of Nequi, with an initial investment of COP 150,000 million.