Grupo Cibest downgraded to Neutral from Buy at Citi

Citi analyst Brian Flores downgraded Grupo Cibest (CIB) to Neutral from Buy with a COP 70,000 price target as part of a broader research note previewing Q4 for Colombia diversified banks. The firm sees a “more balanced” risk-reward environment in Colombia, with higher wages spurring a hawkish monetary cycle that supports net interest margin expansion being balanced by the recently approved emergency degree that brought a 15-percentage-point surcharge for banks in 2026, the analyst tells investors in a research note.