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Bancolombia (CIB)
NYSE:CIB
Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.39Last Year’s EPS
1.54Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 27.34%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong net income growth, an expansion of Nequi, and recognition for corporate reputation. Plans for a new corporate structure and sustainability efforts also present positive developments. However, challenges were noted in declining interest income, mixed fee performance, and issues in Central American operations.Company Guidance
In the third quarter of 2024, Bancolombia reported a net income of COP1.5 trillion, reflecting a 4.3% growth quarter-over-quarter and a 1% increase year-over-year, resulting in a 15% return on equity. Despite a modest expansion of the credit portfolio, the bank maintained strong deposit growth, which outpaced loan growth and helped mitigate interest margin compression. The bank's cost of risk improved to 2.4%, and operating expenses grew well below the inflation rate. Looking ahead, Bancolombia anticipates a 6.5% loan growth for 2024 and a preliminary 7.2% for 2025, with a net interest margin around 6% by year-end 2025. The bank also plans to evolve its corporate structure by mid-2025, aiming for improved financial efficiency and flexibility.Net Income Growth
Achieved a net income of COP1.5 trillion for the third quarter, representing a 4.3% growth quarter-over-quarter and a 1% increase year-over-year, resulting in a 15% return on equity.
Nequi Expansion
Nequi reached more than 20 million clients with 72% active users. Transaction growth of 17% quarter-over-quarter and 65% year-over-year, with deposits increasing by 45% year-over-year.
Recognition for Reputation
Bancolombia recognized for the 10th consecutive year by MERCO as the company with the best reputation in Colombia.
Capital Structure and Flexibility
Introduced plans for a new holding company, Grupo Cibest, to improve capital allocation and reduce foreign exchange volatility, anticipating completion by mid-2025.
Sustainability Efforts
Originated over COP32 trillion in sustainable financing in 2024, contributing to a cumulative total of COP173 trillion since 2020.
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CIB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CIB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $31.97 | $31.41 | -1.75% |
| Aug 08, 2024 | $30.00 | $30.00 | 0.00% |
| May 09, 2024 | $31.54 | $31.68 | +0.44% |
| Feb 20, 2024 | $28.34 | $29.08 | +2.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bancolombia (CIB) report earnings?
Bancolombia (CIB) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Bancolombia (CIB) earnings time?
Bancolombia (CIB) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIB EPS forecast?
CIB EPS forecast for the fiscal quarter 2024 (Q4) is 1.39.
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