RESTATEMENT OFNEW 2025 QUARTERLY SERIES IN THE 2026 FORMAT PRESS RELEASEParis, 16 March 2026 This restatement has no impact on the Group’s published 2025 results and changes only the analytical breakdown of business lines and divisions. ​In order to present a consistent reference with the presentation of the financial statements and the results applied from 1 January 2026, the quarterly series for the 2025 financial year include the main effects described below:​ Reorganisation of GCM (Global Capital Market ...

Inflation ended 2025 at 5.1%, missing the central bank’s 3% target for a fifth consecutive year, according to Clavijo. She said inflation expectations rose late in the year and increased further after the announcement of a 23.7% minimum wage increase for 2026. In January, Banco de la República raised its policy rate by 100 basis points, and Clavijo said her updated view calls for year-end inflation of 6.4% and at least 200 basis points of additional policy-rate increases, which could weigh on growth.Chief E ...

Financial Data and Key Metrics Changes - Annual net income totaled COP 3.8 trillion, with a return on equity (ROE) of 9.1%, impacted by a non-cash impairment charge. Excluding this effect, net income would have reached COP 7.3 trillion, resulting in an ROE of 17.2% [5][28] - The group achieved a 14.6% annual dividend growth, exceeding inflation by over 950 basis points [6] - The price-to-book ratios improved, and P/E multiples indicated increased market confidence [7] Business Line Data and Key Metrics Changes - The loan portfolio declined by 8.3% year-over-year, but would have grown by 2.1% without accounting impacts. Mortgages led growth, while consumer lending regained momentum [16][17] - Deposits reported a 5.2% contraction, but expanded by 4.5% absent accounting impacts, with a 10.2% growth when excluding foreign exchange effects [18] - Net interest income decreased by 5.3% annually, but recorded a 1% expansion excluding accounting impacts [19] Market Data and Key Metrics Changes - The Colombian economy demonstrated moderate resilience with a growth of 2.6% in 2025, supported by consumer spending and government expenditures [8][9] - Inflation closed at 5.1%, with expectations rising sharply, leading to a stable monetary policy rate being ineffective [10] Company Strategy and Development Direction - Grupo Cibest's new holding structure improved capital allocation, enabling higher dividends and share buybacks [4] - The company aims for loan growth of 7%-8% in 2026, with a net interest margin expected between 6.8% and 7% [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from inflation and rising interest rates but expressed confidence in managing these risks [37][38] - The company is prepared for macroeconomic challenges and believes in the resilience of the Colombian economy [38] Other Important Information - Nequi and Wompi reached breakeven in Q4 2025, marking significant progress in digital businesses [5][23] - The company plans to invest approximately COP 600 billion in Nequi and COP 50 billion in both Wenia and Wompi [68] Q&A Session Summary Question: Outlook for asset quality and cost of risk guidance - Management acknowledged the need to manage cost of risk amid high inflation and interest rates, indicating preparedness for economic uncertainty [36][37] Question: Capital allocation and potential for additional buybacks - Management confirmed flexibility in capital management and commitment to support operations in Guatemala, targeting double-digit ROE for Banco Agromercantil [40][41] Question: Tax implications and effective tax rate guidance - Management indicated uncertainty regarding taxes but projected an effective tax rate of 28% for guidance, incorporating potential additional taxes [52][54] Question: Operating expenses growth and impact of salary increases - Management expects operating expenses to grow in line with inflation, with some increases due to vendor service costs tied to minimum wage adjustments [80] Question: Capital deployment and double leverage - Management plans to invest significantly in digital ventures and indicated a comfortable double leverage limit of 120% [69]

Bancolombia (NYSE:CIB) Q4 2025 Earnings call February 24, 2026 09:00 AM ET Company ParticipantsAndrés Soto - Executive Director and Market StrategistBrian Flores - VP in Equity ResearchCarlos Gómez-López - Head of Latin America Financials ResearchErnesto Gabilondo - Director of Latin American Financial InstitutionsJuan Carlos Mora - CEOLaura Clavijo - Chief EconomistMauricio Botero Wolff - Chief Strategy and Financial OfficerYuri Fernandes - Executive Director in Equity ResearchConference Call ParticipantsA ...

Financial Data and Key Metrics Changes - Annual net income totaled COP 3.8 trillion, with a return on equity (ROE) of 9.1%, impacted by a non-cash impairment charge. Excluding this effect, net income would have reached COP 7.3 trillion, resulting in an ROE of 17.2% [4][26]. - The group achieved a 14.6% annual dividend growth, exceeding inflation by over 950 basis points [5]. - Net interest income decreased by 5.3% year-over-year, but recorded a 1% expansion when excluding accounting impacts [18]. Business Line Data and Key Metrics Changes - The loan portfolio declined by 8.3% over the year, but would have grown by 2.1% absent accounting impacts. Mortgages led growth, while consumer lending regained momentum after two years of contraction [15][16]. - Deposits reported a 5.2% contraction, but expanded by 4.5% when excluding accounting impacts. If foreign exchange impacts are removed, deposits growth would have been 10.2% [16]. - Net fee income increased by 4.3% year-over-year, or 10.4% excluding accounting impacts, driven by higher transactional activity [19]. Market Data and Key Metrics Changes - The Colombian economy demonstrated moderate resilience with overall growth of 2.6% in 2025, supported by private consumption and public expenditure [8][9]. - Inflation closed at 5.1%, missing the central bank's target for the fifth consecutive year, with expectations rising sharply towards the end of the year [10]. Company Strategy and Development Direction - The company emphasized its transformation into Grupo SURA, which has improved capital allocation and shareholder returns through dividends and share buybacks [5][6]. - The strategic roadmap includes continued investment in digital businesses, with Nequi and Wompi reaching breakeven, highlighting their role in long-term returns [4][20]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from inflation and rising interest rates but expressed confidence in managing these risks and achieving guidance for cost of risk [36][63]. - The company anticipates loan growth of 7%-8% for 2026, with a net interest margin expected between 6.8% and 7% [30]. Other Important Information - The company announced a proposed dividend of COP 4.3 trillion, equivalent to COP 4,512 per share, to be paid in four installments starting April [4]. - The share buyback program remains active, with approximately 32% of the total authorized amount executed, leading to an average appreciation of 37% across all share types [7]. Q&A Session Summary Question: Outlook for asset quality and cost of risk guidance - Management acknowledged the challenges posed by inflation and interest rates but expressed confidence in managing these risks and adapting their models accordingly [36]. Question: Capital allocation and potential for additional buybacks - Management highlighted the flexibility gained from the new corporate structure and expressed commitment to supporting operations in Guatemala while targeting double-digit ROE [40][41]. Question: Tax implications and guidance for 2026 - Management indicated uncertainty regarding taxes due to pending regulations but projected an effective tax rate of 28% for guidance, incorporating potential additional taxes [50][53]. Question: Operating expenses growth and impact of salary increases - Management expects operating expenses to grow in line with inflation plus 2-3 percentage points, with some increases related to vendor services tied to minimum wage adjustments [78]. Question: Nequi's performance and standalone efficiency - Nequi has reached breakeven and is expected to be separated as a standalone entity by the third quarter of the year, with strong loan growth and profitability [86].

Financial Results 4Q25 Highlights 1. A one-time, non-cash impairment charge and assets held for sale accounting related to the Banistmo divestment distort the quarterly and annual results Solid full-year operational results supported by resilient margins, and improved asset quality. Key Results 3. Significant progress in our digital businesses toward sustained profitability, a key driver of the Group's long-term returns 4. The new corporate structure under Grupo Cibest is delivering a clear enhancement in s ...

Financial Stability - Grupo Cibest has a debt-to-equity ratio of 0.66 and liquidity ratios of approximately 1.00, indicating a stable financial position [1][3][5] Upcoming Earnings Release - The company is set to announce its earnings per share (EPS) of $1.96 and projected revenue of approximately 7.56 trillion COP (about $1.89 billion USD) [2][6] - The earnings release is scheduled for after market close on February 23, 2026, with the earnings call on February 24, 2026, at 9:00 AM ET [2] Stock Performance - Grupo Cibest's stock is currently trading at $79.46, reflecting an increase of 0.59% [3][6] - The company has a market capitalization of $20.71 billion and a P/E ratio of 9.58, suggesting reasonable valuation [3][6] - The stock's 50-day moving average is $71.05, while the 200-day moving average is $59.92, with a yearly trading range from a low of $35.44 to a high of $86.31 [4] Valuation Metrics - The company's price-to-sales ratio is 1.78, and its enterprise value to sales ratio is also 1.78, indicating its market valuation [4][5] - The enterprise value to operating cash flow ratio is 4.59, and the earnings yield is 10.43%, suggesting a solid return on investment for shareholders [5]

Core Viewpoint - Investors in the Diversified Operations sector should consider Grupo Cibest (CIB) and ITT (ITT) for potential value investment opportunities, with CIB appearing more attractive based on various valuation metrics [1]. Valuation Metrics - Grupo Cibest (CIB) has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while ITT has a Zacks Rank of 3 (Hold) [3]. - CIB's forward P/E ratio is 9.92, significantly lower than ITT's forward P/E of 24.41, suggesting that CIB may be undervalued [5]. - CIB has a PEG ratio of 0.99, compared to ITT's PEG ratio of 1.64, indicating that CIB's valuation is more favorable when considering expected earnings growth [5]. - CIB's P/B ratio is 2.25, while ITT's P/B ratio is 5.32, further supporting the notion that CIB is a better value option [6]. - CIB's overall Value grade is B, whereas ITT's Value grade is D, highlighting the relative attractiveness of CIB as a value investment [6]. Earnings Outlook - CIB is noted for its improving earnings outlook, which enhances its appeal in the Zacks Rank model, suggesting it is a superior value option at this time [7].

Grupo Cibest (CIB) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find it ...

Core Viewpoint - Grupo Cibest (CIB) is identified as a promising momentum stock with a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating potential for short-term gains [3][4][12]. Momentum Style Score - The Zacks Momentum Style Score incorporates metrics such as price change and earnings estimate revisions, which are crucial for assessing stock performance [2][9]. - CIB's recent price activity shows a 7.08% increase over the past week, significantly outperforming the Zacks Diversified Operations industry, which remained flat [6]. Price Performance - Over the last month, CIB's shares have increased by 22.42%, compared to the industry's 3.4% [6]. - In the longer term, CIB has seen a 36.13% increase over the past quarter and a remarkable 128.81% gain over the last year, while the S&P 500 has only moved 3.46% and 14.89%, respectively [7]. Trading Volume - CIB's average 20-day trading volume is 331,214 shares, which serves as a baseline for price-to-volume analysis; a rising stock with above-average volume is generally considered bullish [8]. Earnings Outlook - In the past two months, two earnings estimates for CIB have been revised upwards, raising the consensus estimate from $7.70 to $7.99 [10]. - For the next fiscal year, two estimates have also moved upwards, with no downward revisions noted [10]. Conclusion - Given the positive momentum indicators and earnings outlook, CIB is positioned as a strong buy candidate for investors seeking short-term opportunities [12].