October 5, 2025
Home Archive by category Business (Page 76)
Companies

Medellin-Based Multinational Supermarket Giant Grupo Exito Posts Profitable 2016

Thanks to a favorable turnaround in fourth quarter (4Q) 2016, Medellin-based multinational supermarket giant Grupo Exito posted a full-year 2016 net profit of COP$43.5 billion (US$14.9 million). The improvement came despite a 2016 Colombian interest-rate basis-point hike that cost the company COP$458 billion (US$156 million), higher Colombian income taxes and net losses in
Colombian economy

Colombia’s 2016 Full-Year GDP Up 2%, Free-Trade Exports Improve Year-on-Year

Colombia’s national economic statistics agency (DANE) announced February 22 that gross domestic product (PIB in Spanish initials) grew 2% year-on-year in 2016, down from 3.1% in 2015. Financial services (up 11%) and real-estate (up 3.2%) led all growth categories, while construction jumped 4.1% and industrial manufacturing rose 3%, according to DANE. Colombia has seen 17
Companies

Bancolombia 2016 Profits Jump 13.8% Year-on-Year

Medellin-based Bancolombia – Colombia’s biggest bank – on February 21 announced that its 2016 full-year profits rose 13.8% year-on-year, to COP$2.86 trillion (US$994 million). “The growth in 2016 of the Bancolombia group — in the midst of a soft-landing of the Colombian economy after an important external shock — showed positive behavior,” according to the […]