Earnings Release - Davivienda 3Q17
November 21, 2017 (Investorideas.com Newswire) Davivienda released its financial results for the third quarter of the year. Net income amount to COP 273 bn ( - 15.7 % QoQ and - 24.8 % YoY ) while ROAE stood at 14.3 % compared to 15.7 % during 2 Q17 . Furthermore , net loans reached COP 75.0 trillion (+ 0.7 % QoQ and + 9.3 % YoY) . In Colombia, loan portfolio grew 9.9 % YoY and foreign portfolio increased 6.6 % YoY (in COP). We highlight that asset quality stood at 2.9 % compared to 2.7 % in 2 Q17 and 2.1 % in 3Q16. Finally, efficiency was 47.3 %, increasing 18 bps QoQ while NIM stood at 6.4 %, increasing 8 bps QoQ and decreasing 36 bps YoY . **
Corredores Davivienda S.A. Comisionista de Bolsa is not responsible for investment decisions that may be derived from the information and analyses presented in this document. These decisions, their effects and consequences will be the sole responsibility of the investor. The information published is informative and has been taken from reliable sources, but Corredores Davivienda S.A. does not guarantee that they are free of errors. Total or partial reproduction of this document is not allowed without the prior and express authorization of Corredores Davivienda S.A.
In addition to the above, we inform that: i) Corredores Davivienda S.A. Comisionista de Bolsa is a subsidiary (related party) of Banco Davivienda Issuer; ii) Corredores Davivienda is one of the member companies of Grupo Empresarial Bolívar iii) Corredores Davivienda according to their policy and Investment Risk, could acquire or maintain for their own position financial assets or securities to which this report refers.
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