Home South AmericaColombia Bank profits to February continued to fall

Bank profits to February continued to fall

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Interest rates will remain high and banks will lower their profitability

The banks posted a profit of $1.47 trillion as of last February, 35% less than a year ago when the figure was $2.27 trillionaccording to figures from the Financial Superintendence.

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For their part, the Credit Establishments (banks, financial corporations, financing companies and financial cooperatives) they reached profits of $1.8 trillion, 30% less than a year ago when they were $2.65 trillion.

By type of entity, banks earned $1.47 trillionfinancial corporations $354.800 millionfinancing companies lost $29 billion and financial cooperatives won $12.8 billion.

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According to the Financial Supervisionwith the exception of the Companies Specialized in Electronic Deposits and Payments (Sedpes)profit increases were observed in all industries during February.

The profits of the Institutions Special Officials (IOEs) reached $1.4 trillion, followed by the insurance industry with $626.200 millionthe safp with $221.700 millionthe trust companies with $167.200 millionthe infrastructure providers with $74,000 million and the securities brokers with $33.7 billion. In contrast, the thirsty reported negative results for $3.3 billion.

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The balances of the savings and current accounts in real terms presented decreases in February. During the month, deposits and demands jointly registered a balance of $643.7 trillion, a real annual variation of 2.7% (nominal of 16.3%).

Term deposits had record dynamics. In February, the nominal balance increased $19.9 trillion intermonthly and grew 41.8% to $256.5 trillion.

The gross portfolio continues to grow, but at a lower rate than the previous month. The gross balance of the portfolio amounted to $673.6 trillion. Of the total penalized, 88% corresponds to the consumer portfolio and 8% to commercial.

Read: Operations in the financial system grew 29% in 2022

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