Bancolombia Reports Asset Growth Amid Income Decline

Bancolombia (CIB) has released an update.

Bancolombia’s recent financial report shows a total asset increase to 353.4 trillion Colombian pesos as of September 2024, indicating a positive growth trajectory despite a drop in net income compared to the previous year. The bank experienced a notable rise in loans and advances to customers, reaching 253 trillion Colombian pesos, while investments in financial assets also grew significantly. However, the decrease in cash and cash equivalents signals a shift in the bank’s financial strategy.

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