Banco Davivienda S.A. Reports Earnings Results for the First Quarter of 2018; Provides ROE Guidance for the Year 2018
June 08, 2018 at 03:30 pm
Share
Banco Davivienda S.A. reported earnings results for the first quarter of 2018. The company reported a net income of COP 454 billion, 39% higher compared to the same quarter last year, as a consequence of higher net financial margin and lower provision expenses.
ROE forecast for this year will be around 11% to 12%, mainly explained by the higher cost of risk for 2018.
Banco Davivienda SA is a Colombia-based banking institution. The Bankâs products and services include savings and current accounts, consumer and commercial loans, credit and debit cards, mortgages, fixed-term deposits, portfolio management, foreign trade financing and a variety of insurance policies, as well as other banking operations to individuals and businesses. As of December 31, 2012, the Bank operated a network of 572 branch offices located nationwide and one in the United States. It also owned such subsidiaries as Fiduciaria Davivienda SA, Dadivalores SA, Bancafe Panama SA and Fiduciaria Cafetera SA, among others. In addition, Grupo Empresarial Bolivar was the Companyâs major shareholder.
BANCO DAVIVIENDA S.A. 
