Cibest (Bancolombia) 2Q 2026 Net Income Jumps 52% Year-on-Year
Medellin-based multinational banking giant Grupo Cibest (Bancolombia) announced August 10 that its second quarter (2Q) 2026 net income jumped 52% year-on-year, to COP$2.7 trillion (US$859 million), from COP$1.97 trillion (US$626 million) in 2Q 2025.
“This result was primarily driven by the performance of net interest income, due to higher portfolio returns and higher income from the valuation of financial instruments” according to Cibest.
“The net interest margin for 2Q 2026 was 7.94%, increasing 91 basis points compared to 1Q 2026. Net interest income was COP$6.04 trillion [US$1.9 billion], increasing 16.49% compared to 1Q 2026 and 23.84% compared to 2Q 2025,” the company added..
Corporate-wide group’s gross loan portfolio reached COP$262 trillion [US$83 billion] at the close of 2Q 2026, “growing 0.17% compared to the previous quarter and 5.72% compared to 2Q 2025,” according to the company.
“Growth was affected by the exchange rate fluctuation of the Colombian peso against the US dollar, which appreciated 15.5% year-over-year and 6% during the quarter, reducing the peso value of balances denominated in foreign currency.
“In terms of segments, consumer and mortgage loans showed moderate growth during the quarter, while the commercial loan portfolio showed a slight decrease.”
Meanwhile, at the close of 2Q 2026, “Grupo Cibest finalized the sale of Banistmo S.A. [in Panama], initially announced to the market on December 18, 2025,” netting Cibest US$1.42 billion.
“This divestiture is part of a long-term corporate strategy aimed at optimizing the Group’s portfolio, focusing its growth on strategic markets, and maximizing value creation for its shareholders,” the company added.
Meanwhile, corporate-wide banking deposits at the close of 2Q 2026 totaled COP$271 trillion [US$86 billion], “a decrease of 0.25% compared to 1Q 2026 and an annualized growth of 7.14%,” according to the company.
“This trend was influenced by the appreciation of the Colombian peso against the US dollar and the slight growth of the loan portfolio during the quarter.
“Net loan-loss provisions amounted to COP$ 1.02 trillion [US$324 million] during 2Q 2026, representing a decrease of 16.75% compared to 1Q 2026 and an annualized quarterly cost of credit of 1.56%.
“This performance was mainly due to recoveries from significant clients and lower expenses related to expectations regarding macroeconomic variables. The non-performing loan ratio stood at 3.59% for 30 days and 2.48% for 90 days,” the company added.
Equity attributable to shareholders fell 7.68% compared to 2Q 2025, reflecting “the appreciation of the Colombian peso against the dollar.” However, “during the [latest] quarter, strong profit generation” helped offset the appreciating peso.
Meanwhile, “the mortgage portfolio continued its positive trajectory, growing 1.81% compared to the previous quarter and showing an 11.83% year-over-year change,” according to Cibest.
