Cibest (Bancolombia) 3Q 2025 Net Income Rises 42% Year-on-Year

Medellin-based multinational banking giant Cibest (Bancolombia) announced November 6 that its third quarter (3Q) 2025 net income rose 42% year-on-year, to COP$2.14 trillion (US$565 million).

Comparing 3Q 2025 to the immediate prior quarter (2Q 2025), net income is up 19.7%, “driven primarily by reductions in [loan] provision expenses and operating outlays, as well as by increases in interest on debt instruments and valuation of financial instruments,” according to the company.

Return on equity for Grupo Cibest for 3Q 2025 rose to 20.4% and stands at 17.4% for the last 12 months, according to the company.

Net interest margin for 3Q 2025 rose two basis points over 2Q 2025, to 6.59%, while net interest earnings rose 2.9% year-on-year, to COP$5.3 trillion (US$1.4 billion), according to the company.

However, Cibest cited a “negative impact” of currency exchange-rates as the Colombian peso during 3Q 2025 rose in relation to the U.S. dollar.

As for the company’s digital banking efforts, Bancolombia reported that it now has 9.2 million active clients using the “Mi Bancolombia” app and another 26.6 million accounts for the “Nequi” app.

“The Colombian economy is showing signs of stabilization, with GDP growth of 2.4% in the first half of 2025 and an annual projection of 2.6%,” Cibest noted.

“Inflation has stagnated, reaching 5.2% in September, making it plausible that the convergence process toward the target range will be paused in 2026.

“The Colombian Central Bank reduced its interest rate to 9.25% in April and has kept it unchanged since then. This also reflects persistent fiscal challenges, with a projected government deficit of 7.1% of GDP and public debt exceeding 63%.

“In the short term, debt management operations by the Public Credit Department have reduced the debt balance and moderated interest payments.

“Furthermore, international uncertainty, marked by conflicts and tariff measures, could affect inflation and local monetary policy.

“Against this backdrop, Bancolombia S.A.’s loan portfolio increased by 1.2% in 3Q 2025 compared to the previous quarter and by 8.0% over the last 12 months.

“The largest quarterly growth was recorded in the consumer loan portfolio, especially in credit card products, driven by commercial strategies launched in the Mi Bancolombia app, personal loans, and Nequi, which continues the positive momentum of the last 12 months in loan origination.

“The mortgage portfolio maintains the positive trend of the last year, supported by the interest rate reduction strategy.

“On the other hand, the commercial loan portfolio showed a decrease in balance, mainly due to certain prepayments in the corporate segment.

“Net interest income increased due to higher interest income, driven primarily by treasury income, and lower interest expenses, associated with the reduction in the deposit rate on savings accounts and time deposits.

“Meanwhile, loan loss provisions decreased, explained by improved performance in all segments, except for the corporate segment, which was affected by some specific clients, and by the release resulting from updated models.

“Consequently, the cost of credit was 1.16%, decreasing compared to 2Q 2025 and 3Q 2024.

“Net commissions showed a quarterly increase, driven by higher transaction volume for cards and affiliated establishments. Operating expenses decreased, mainly due to a reduction in labor costs, as this quarter did not include the expenses associated with the migration of employees to Grupo Cibest S.A., which were recorded in 2Q 2025,” the company added.

Besides its Colombia operations, Cibest also operates in Panamá, Guatemala and Puerto Rico.