Financial Data and Key Metrics Changes - Grupo Aval achieved the highest net income in its history for 2021, with a net income of COP3.3 billion, which is 40.4% higher than in 2020 and 9% higher than in 2019 [33] - Return on average equity was 15.3% and return on average assets was 1.65% for the year [33] - Consolidated assets grew by 13.6% year-on-year, while consolidated gross loans grew by 13.2% [34] Business Line Data and Key Metrics Changes - In Colombia, the gross loan portfolio grew by 6.6% over the year, with consumer loans showing strong demand, growing 11.5% for the full year [36][37] - Corporate lending growth in Colombia was weak, with a commercial loan portfolio growth of only 2.9% for the year [38] - In Central America, the gross loans portfolio increased by 8.3% in dollar terms year-on-year, with consumer loans growing by 3.9% and commercial loans by 3.7% [39] Market Data and Key Metrics Changes - The Colombian economy grew by 10.6% in 2021, the highest rate in its history, driven by a rebound in private consumption [11] - Inflation in Colombia closed the year at 5.62%, significantly up from 1.61% in 2020, with food prices increasing by a record high of 23.3% [15] - The current account deficit widened to 5.7% of GDP in 2021, primarily due to a trade balance deficit of $20.5 billion [18] Company Strategy and Development Direction - Grupo Aval plans to execute a spin-off of 75% of Back Holding International Corp, which owns its Central American banking group, to simplify corporate structure and enhance strategic focus on Colombia [28][29] - The company aims to improve its regulatory capital position and capture future growth opportunities through this spin-off [30] - The company is committed to ESG initiatives, including launching green products and participating in sustainability indices [25][27] Management's Comments on Operating Environment and Future Outlook - Management expects Colombia's GDP growth in 2022 to be in the range of 4% to 4.5%, despite challenges from the election year and inflationary pressures [14] - The company anticipates a strong growth rate in commercial loans supported by improving business confidence and economic activity [38] - Management highlighted the importance of maintaining a healthy loan portfolio quality, with expectations for cost of risk to remain stable [44] Other Important Information - The company reported a significant increase in digital clients, with active digital clients in Colombia totaling 3.8 million, a 44% increase year-on-year [23] - The company has implemented a hybrid work scheme post-pandemic, which is expected to enhance employee satisfaction and operational efficiency [9] Q&A Session Summary Question: Potential capital rise and dividend payment - Management indicated that not distributing dividends serves as a proxy for raising capital, and the spin-off will raise Banco de Bogota's capital ratios by about 130 basis points, reducing the need for additional capital raises for now [62] Question: Asset quality and reliefs - Management acknowledged improvements in asset quality, with 9.5% of total loans still under reliefs, and provided insights into the stability of the relief book and the quality of loans under reliefs [64]

Grupo Aval Acciones y Valores S.A (NYSE:AVAL) Q3 2021 Earnings Call November 18, 2021 ET Company Participants Luis Carlos Sarmiento Gutierrez - CEO & President Diego Solano Saravia - CFO Conference Call Participants Jason Mollin - Scotiabank Yuri Fernandes - JPMorgan Chase & Co. Julian Ausique - Davivienda Andres Soto - Santander Carlos Gomez-Lopez - HSBC Operator Welcome to Grupo Aval Third Quarter 2021 Consolidated Results Conference Call. My name is Hilda and I will be your operator for today’s call. Gru ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q2 2021 Earnings Conference Call August 12, 2021 10:30 AM ET Company Participants Luis Carlos Sarmiento Gutierrez - CEO & President Diego Solano Saravia - CFO Conference Call Participants Sebastián Gallego - CrediCorp Capital Adriana De Lozada - Scotiabank Brian Flores - ASA Investments Yuri Fernandes - JPMorgan Chase & Co. Julian Ausique - Davivienda Andres Soto - Santander Operator Welcome to Grupo Aval's Second Quarter 2021 Consolidated Results Conference Ca ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q1 2021 Earnings Conference Call May 20, 2021 10:00 AM ET Company Participants Luis Carlos Sarmiento Gutiérrez - Chief Executive Officer Diego Solano Saravia - Chief Financial Officer Conference Call Participants Jason Mollin - Scotiabank Judy Fernandez - JPMorgan Brian Flores - Citi Carlos Gomez - HSBC Julián Ausique - Davivienda Corredores Sebastian Gallego - Credicorp Capital Andres Soto - Santander Operator Welcome to Grupo Aval's First Quarter 2021 Consol ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ OR ☐ SHELL COMPANY ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q3 2020 Earnings Conference Call November 19, 2020 9:00 AM ET Company Participants Luis Carlos Sarmiento Gutiérrez - President and CEO Diego Fernando Solano Saravia - CFO Conference Call Participants Jason Mollin - Scotiabank Gabriel Nobrega - Citigroup Yuri Fernandes - J.P. Morgan Andres Soto - Santander Nicolas Riva - Bank of America Merrill Lynch Sebastian Gallego - Credicorp Capital Carlos Gomez - HSBC Piedad Alessandri - CrediCorp Capital Julián Ausique - ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q2 2020 Earnings Conference Call August 28, 2020 10:00 AM ET Company Participants Luis Carlos Sarmiento Gutiérrez - Chief Executive Officer Diego Fernando Solano Saravia - Chief Financial Officer Conference Call Participants Gabriel Nóbrega - Citi Group Sebastián Gallego - CrediCorp Capital Yuri Fernandes - JPMorgan Andres Soto - Santander Carlos Gomez - HSBC Nicolas Riva - Bank of America. Julián Ausique - Davivienda Corredores Alonso Aramburu - BTG Pactual Op ...