BANCOLOMBIA SA | CIK:0001071371 | 3

  • Filed: 4/30/2018
  • Entity registrant name: BANCOLOMBIA SA (CIK: 0001071371)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1071371/000114420418023396/0001144204-18-023396-index.htm
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    • ifrs-full:DisclosureOfOperatingSegmentsExplanatory

    NOTE 3. OPERATING SEGMENTS
     
    Operating segments are defined as components of an entity about which separate financial information is available and that is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resources and assessing performance. The segment information has been prepared following the Bank’s accounting policies as described in the summary of significant accounting policies in Note 2 Significant accounting policies and has been presented consistently with the internal reports provided to the CODM.
     
    The CODM uses a variety of information and key financial data on a segment basis to assess the performance and make decision regarding the investment and allocation of resources, such as:
     
    ⋅
    Net interest margin (Net margin on financial instruments divided by average interest-earning assets).
    ⋅
    Return on average total assets (Net income divided by average total assets).
    ⋅
    Return on average stockholders’ equity.
    ⋅
    Efficiency ratio (Operating expenses as a percentage of interest, fees, services and other operating income).
    ⋅
    Asset Quality and loans coverage ratios.
     
    The Bank includes the following segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore and All other segments. The factors used to identify the Bank’s reportable segments are the nature of the products and services provided by the subsidiaries and the geographical locations where the subsidiaries are domiciled, in line with the CODM’s operating decisions related to the results of each segment.
     
    The Bank’s operating segments are comprised as follows:
     
    ⋅
    Banking Colombia
     
    This segment provides retail and corporate banking products and services to individuals, companies and national and local governments in Colombia. The Bank’s strategy in Colombia is to grow with these clients based on value added and long-term relationships. In order to offer specialized services to individuals and small and medium size enterprises (SMEs), the Bank´s retail sales force targets the clients classified as: Personal, Private, Entrepreneurs, Foreign Residents and SMEs. The Bank´s corporate and government sales force targets and specializes in companies with more than COP 16,000 million in revenue in nine economic sectors: Agribusiness, Commerce, Manufacturing of Supplies and Materials, Media, Financial Services, Non-Financial Services, Construction, Government and Natural Resources.
     
    Tuya S.A. was discontinued in the year ending as of December 31, 2016. The segment information reported on the next pages does not include any amounts for that discontinued operation, which is described in more detail in note 30 discounted operations
     
    This segment is also responsible for the management of the Bank’s proprietary trading activities, liquidity and distribution of treasury products and services to its client base in Colombia.
     
    ⋅
    Banking Panama
     
    This segment provides retail and commercial banking products and services to individuals and companies in Panama through the Banistmo operation. This segment includes all the operations of Banistmo and its subsidiaries, which are managed and monitored by the CODM on a consolidated basis.
     
    This segment is also responsible for the management of the Bank’s proprietary trading activities, liquidity and distribution of treasury products and services to its client base in Panama. 
     
    ⋅
    Banking El Salvador
     
    This segment provides retail and commercial banking products and services to individuals, companies and national and local governments in El Salvador through Banco Agrícola S.A. Banking El Salvador also includes operations of the following subsidiaries: Arrendadora Financiera S.A., Credibac S.A. de CV, Valores Banagricola S.A. de C.V.
     
    This segment is also responsible for the management of the Bank’s proprietary trading activities, liquidity and distribution of treasury products and services to its client base in El Salvador.
     
    ⋅
    Banking Guatemala
     
    This segment provides retail and commercial banking and insurance products and services to individuals, companies and national and local governments in Guatemala through Banco Agromercantil de Guatemala S.A. Banking Guatemala also includes operations of the following subsidiaries: Mercom Bank Ltd., Seguros Agromercantil S.A., Financiera Agromercantil S.A., Agrovalores S.A., Tarjeta Agromercantil S.A.
     
    This segment is also responsible for the management of the Bank’s proprietary trading activities, liquidity and distribution of treasury products and services to its client base in Guatemala.
     
    ⋅
    Trust
     
    This segment provides trust and asset management services to clients in Colombia and Peru through Fiduciaria Bancolombia and FiduPerú S.A. Sociedad Fiduciaria. The main products offered by this segment include money market accounts, mutual and pension funds, private equity funds, payment trust, custody services, and corporate trust.
     
    Investment in FiduPerú S.A. is classified as Asset held for sale in Statement of Financial Position. For further information, see note 12 Assets held for sale and inventories.
     
    ⋅
    Investment banking
     
    This segment provides corporate and project finance advisory, underwriting, capital markets services and private equity management through Banca de Inversión Bancolombia S.A. Its customers include private and publicly-held corporations as well as government institutions. 
     
    ⋅
    Brokerage
     
    This segment provides brokerage, investment advisory and private banking services to individuals and institutions through Valores Bancolombia S.A. Comisionista de Bolsa. It sells and distributes equities, futures, foreign currencies, fixed income securities, mutual funds and structured products.
     
    ⋅
    Off Shore
     
    This segment provides a complete line of offshore banking services to Colombian and foreign customers through Bancolombia Panamá S.A., Bancolombia Caymán S.A., and Bancolombia Puerto Rico International, Inc. It offers loans to private sector companies, trade financing, leases financing and financing for industrial projects, as well as a complete portfolio of cash management products, such as checking accounts, international collections and payments. Through these subsidiaries, the Bank also offers investment opportunities in U.S. dollars, savings and checking accounts, time deposits, and investment funds to its high net worth clients and private banking customers.
     
    ⋅
    All other segments
     
    This segment provides financial and operational leases activities, including cross-border and international leasing services to clients in Colombia, Central America, Mexico and Brazil. Bancolombia offers these services mainly through the following Subsidiaries: Renting Colombia S.A.S., Arrendamiento Operativo CIB S.A.C., Transportempo S.A.S. and Capital Investment Safi S.A. This segment also includes results from small operation of particular investment vehicles of Bancolombia: Valores Simesa S.A., BIBA Inmobiliaria S.A.S., Inversiones CFNS S.A.S., Sistema de Inversiones y Negocios S.A. Sinesa, Banagrícola S.A., Inversiones Financieras Banco Agrícola and others.
     
    The investment in Arrendamiento Operativo CIB S.A.C. and Capital Investment Safi S.A. are classified as Asset held for sale in Statement of Financial Position. For further information, see note 12 Assets held for sale and inventories.
     
    Financial performance by operating segment:
     
    The CODM reviews the performance of the Bank using the following financial information by operating segment:
     
     
    For the year ended December 31, 2017
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    banking(1)
    Brokerage
    Off shore
    All other
    segments
    Total before
    eliminations
    Adjustments for
    consolidation(2)
    Total after
    eliminations
     
    In millions of COP
    Total interest and valuation
    12,984,301
    1,495,446
    882,806
    865,038
    794
    94
    8,916
    444,649
    10,201
    16,692,245
    (6,568)
    16,685,677
    Interest income on loans and financial leases
    12,576,159
    1,374,398
    830,050
    767,986
    -
    -
    -
    412,418
    13,000
    15,974,011
    (426)
    15,973,585
    Total Debt investments
    602,304
    93,154
    31,582
    100,193
    193
    94
    15,147
    16,329
    735
    859,731
    -
    859,731
    Derivatives
    (54,156)
    438
    -
    -
    -
    -
    (7,661)
    6,085
    (289)
    (55,583)
    (6,084)
    (61,667)
    Total liquidity operations
    (140,006)
    27,456
    21,174
    (3,141)
    601
    -
    1,430
    9,817
    (3,245)
    (85,914)
    (58)
    (85,972)
    Interest expenses
    (4,791,976)
    (523,312)
    (256,994)
    (348,726)
    (102)
    -
    (72)
    (226,304)
    (85,928)
    (6,233,414)
    428
    (6,232,986)
    Net interest margin and valuation income on financial instruments before impairment on loans and financial leases and off balance sheet credit instruments
    8,192,325
    972,134
    625,812
    516,312
    692
    94
    8,844
    218,345
    (75,727)
    10,458,831
    (6,140)
    10,452,691
    Total credit impairment charges, net
    (3,196,065)
    (46,468)
    (110,018)
    (125,877)
    (549)
    466
    (147)
    6,541
    1,696
    (3,470,421)
    8,576
    (3,461,845)
    Net interest margin and valuation income on financial instruments after impairment on loans and financial leases and off balance sheet credit instruments
    4,996,260
    925,666
    515,794
    390,435
    143
    560
    8,697
    224,886
    (74,031)
    6,988,410
    2,436
    6,990,846
    Revenues (Expenses) from transactions with other operating segments of the Bank
    (59,884)
    (26,837)
    (963)
    (972)
    (33,024)
    16,209
    53,075
    101,327
    (48,931)
    -
    -
    -
    Total fees and commission income, net
    1,588,246
    205,645
    170,834
    101,565
    283,666
    28,695
    96,703
    16,270
    12,569
    2,504,193
    -
    2,504,193
    Other operating income
    673,850
    7,784
    (6,405)
    54,246
    13,560
    1,886
    (11,647)
    5,280
    874,126
    1,612,680
    19,666
    1,632,346
    Dividends received, and share of profits of equity method investees
    (53,141)
    7,038
    324
    608
    18,249
    (70,114)
    12,278
    (239,328)
    (61,156)
    (385,242)
    651,412
    266,170
    Joint venture impairment
    -
    -
    -
    -
    -
    (173,339)
    -
    -
    -
    (173,339)
    -
    (173,339)
    Total operating income, net
    7,145,331
    1,119,296
    679,584
    545,882
    282,594
    (196,103)
    159,106
    108,435
    702,577
    10,546,702
    673,514
    11,220,216
    Operating expenses (3)
    (4,717,591)
    (569,219)
    (383,002)
    (343,646)
    (113,482)
    (34,100)
    (101,255)
    (56,593)
    (430,212)
    (6,749,100)
    538
    (6,748,562)
    Impairment, depreciation and amortization
    (147,034)
    (55,197)
    (34,671)
    (101,392)
    (540)
    (133)
    (1,398)
    (967)
    (137,377)
    (478,709)
    (174)
    (478,883)
    Total operating expenses
    (4,864,625)
    (624,416)
    (417,673)
    (445,038)
    (114,022)
    (34,233)
    (102,653)
    (57,560)
    (567,589)
    (7,227,809)
    364
    (7,227,445)
    Profit before tax
    2,280,706
    494,880
    261,911
    100,844
    168,572
    (230,336)
    56,453
    50,875
    134,988
    3,318,893
    673,878
    3,992,771
     
    (1)
    Includes imparment recognition in joint venture Compañía de Financiamiento Tuya S.A.For more information see Note 7 Investments in associates and joint ventures
    (2)
    Includes provisions, dividends, gains on sales and non-controlling interest and reclassification according to the analysis process used by the CODM.
    (3)
    Includes staff costs, other administration and general expenses, contributions and other tax burdens and others.
      
     
    For the year ended December 31, 2016
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    banking
    Brokerage
    Off shore
    All other
    segments
    Total before
    eliminations
    Adjustments for
    consolidation(1)
    Total after
    eliminations
     
    In millions of COP
    Total interest and valuation
    11,586,785
    1,399,852
    901,757
    869,329
    827
    136
    17,160
    442,107
    30,299
    15,248,252
    500,553
    15,748,805
    Interest income on loans and financial leases
    11,196,951
    1,284,986
    844,687
    763,031
    -
    -
    -
    431,381
    25,819
    14,546,855
    473,487
    15,020,342
    Total Debt investments
    464,504
    94,284
    48,264
    96,081
    283
    136
    18,094
    16,205
    3,145
    740,996
    1,718
    742,714
    Derivatives
    (10,197)
    3,274
    -
    5,323
    -
    -
    (2,113)
    (7)
    (1,030)
    (4,750)
    -
    (4,750)
    Total liquidity operations
    (64,473)
    17,308
    8,806
    4,894
    544
    -
    1,179
    (5,472)
    2,365
    (34,849)
    25,348
    (9,501)
    Interest expenses
    (4,542,701)
    (457,611)
    (252,011)
    (348,219)
    (20)
    -
    (33)
    (252,030)
    (99,991)
    (5,952,616)
    (100,484)
    (6,053,100)
    Net interest margin and valuation income on financial instruments before impairment on loans and financial leases and off balance sheet credit instruments
    7,044,084
    942,241
    649,746
    521,110
    807
    136
    17,127
    190,077
    (69,692)
    9,295,636
    400,069
    9,695,705
    Total credit impairment charges, net
    (1,797,848)
    (367,781)
    (55,985)
    (127,839)
    (164)
    (423)
    (25)
    (52,294)
    871
    (2,401,488)
    (329,664)
    (2,731,152)
    Net interest margin and valuation income on financial instruments after impairment on loans and financial leases and off balance sheet credit instruments
    5,246,236
    574,460
    593,761
    393,271
    643
    (287)
    17,102
    137,783
    (68,821)
    6,894,148
    70,405
    6,964,553
    Revenues (Expenses) from transactions with other operating segments of the Bank
    (65,915)
    (20,600)
    (3,054)
    701
    (22,893)
    12,891
    38,677
    99,914
    (39,721)
    -
    -
    -
    Total fees and commission income, net
    1,269,298
    180,286
    158,262
    58,745
    238,745
    19,821
    80,060
    27,502
    13,724
    2,046,443
    272,521
    2,318,964
    Other operating income
    603,860
    18,828
    1,302
    55,942
    13,500
    2,285
    (9,923)
    15,961
    874,978
    1,576,733
    (89,610)
    1,487,123
    Dividends received, and share of profits of equity method investees
    (264,715)
    4,692
    711
    779
    16,873
    202,062
    32,567
    (269,096)
    (175,595)
    (451,722)
    628,414
    176,692
    Total operating income, net
    6,788,764
    757,666
    750,982
    509,438
    246,868
    236,772
    158,483
    12,064
    604,565
    10,065,602
    881,730
    10,947,332
    Operating expenses (2)
    (4,150,984)
    (589,535)
    (390,309)
    (323,001)
    (87,951)
    (26,662)
    (110,317)
    (60,688)
    (400,243)
    (6,139,690)
    (321,551)
    (6,461,241)
    Impairment, depreciation and amortization
    (147,261)
    (62,459)
    (50,323)
    (112,429)
    (612)
    (93)
    (1,980)
    (972)
    (137,672)
    (513,801)
    (4,008)
    (517,809)
    Total operating expenses
    (4,298,245)
    (651,994)
    (440,632)
    (435,430)
    (88,563)
    (26,755)
    (112,297)
    (61,660)
    (537,915)
    (6,653,491)
    (325,559)
    (6,979,050)
    Profit before tax
    2,490,519
    105,672
    310,350
    74,008
    158,305
    210,017
    46,186
    (49,596)
    66,650
    3,412,111
    556,171
    3,968,282
     
    (1)
    Includes provisions, dividends, gains on sales and non-controlling interest and reclassification according to the analysis process used by the CODM.
    (2)
    Includes staff costs, other administration and general expenses, contributions and other tax burdens and others.
     
    For the year ended December 31, 2015
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Trust
    Investment
    banking
    Brokerage
    Off shore
    All other
    segments
    Total before
    eliminations
    Adjustments for
    consolidation(1)
    Total after
    eliminations
    In millions of COP
    Total interest and valuation
    8,992,368
    1,119,540
    728,582
    626
    287
    21,157
    291,249
    112,858
    11,266,667
    2,977
    11,269,644
    Interest income on loans and financial leases
    8,785,739
    1,041,780
    706,582
    -
    -
    -
    310,077
    109,062
    10,953,240
    -
    10,953,240
    Total Debt investments
    249,459
    64,466
    19,747
    185
    287
    14,999
    15,502
    1,425
    366,070
    -
    366,070
    Derivatives
    50,362
    2,704
    -
    -
    -
    5,161
    (26,392)
    -
    31,835
    -
    31,835
    Total liquidity operations
    (93,192)
    10,590
    2,253
    441
    -
    997
    (7,938)
    2,371
    (84,478)
    2,977
    (81,501)
    Interest expenses
    (3,192,822)
    (363,373)
    (187,743)
    (367)
    (236)
    (652)
    (215,592)
    (77,156)
    (4,037,941)
    -
    (4,037,941)
    Net interest margin and valuation income on financial instruments before impairment on loans and financial leases and off balance sheet credit instruments
    5,799,546
    756,167
    540,839
    259
    51
    20,505
    75,657
    35,702
    7,228,726
    2,977
    7,231,703
    Total credit impairment charges, net
    (1,509,519)
    (82,344)
    (26,933)
    (3,204)
    127
    (177)
    (49,830)
    (3,219)
    (1,675,099)
    (2)
    (1,675,101)
    Net interest margin and valuation income on financial instruments after impairment on loans and financial leases and off balance sheet credit instruments
    4,290,027
    673,823
    513,906
    (2,945)
    178
    20,328
    25,827
    32,483
    5,553,627
    2,975
    5,556,602
    Revenues (Expenses) from transactions with other operating segments of the Bank
    (68,915)
    (6,098)
    (8,475)
    (21,833)
    2,355
    31,734
    95,495
    (24,263)
    -
    -
    -
    Total fees and commission income, net
    1,347,999
    136,372
    140,398
    218,190
    29,327
    78,124
    32,325
    10,334
    1,993,069
    (25)
    1,993,044
    Other operating income
    483,556
    104,448
    24
    16,507
    2,080
    (6,325)
    16,281
    772,959
    1,389,530
    (16,828)
    1,372,702
    Dividends received, and share of profits of equity method investees
    (40,115)
    69,127
    1,716
    13,573
    40,018
    (1,473)
    (141,261)
    (159,583)
    (217,998)
    429,572
    211,574
    Total operating income, net
    6,012,552
    977,672
    647,569
    223,492
    73,958
    122,388
    28,667
    631,930
    8,718,228
    415,694
    9,133,922
    Operating expenses (2)
    (3,836,019)
    (606,582)
    (330,362)
    (85,918)
    (22,635)
    (111,255)
    (73,425)
    (354,811)
    (5,421,007)
    5
    (5,421,002)
    Impairment, depreciation and amortization(3)
    (247,446)
    (49,590)
    (27,761)
    (466)
    (93)
    (1,274)
    (17,254)
    (133,401)
    (477,285)
    -
    (477,285)
    Total operating expenses
    (4,083,465)
    (656,172)
    (358,123)
    (86,384)
    (22,728)
    (112,529)
    (90,679)
    (488,212)
    (5,898,292)
    5
    (5,898,287)
    Profit before tax
    1,929,087
    321,500
    289,446
    137,108
    51,230
    9,859
    (62,012)
    143,718
    2,819,936
    415,699
    3,235,635
     
    (1)
    Includes provisions, dividends, gains on sales and non-controlling interest and reclassification according to the analysis process used by the CODM.
    (2)
    Includes staff costs, administration and general expenses, contributions and other tax burdens and others.
    (3)
    The Bank inadvertently inverted the label of the amounts reported for Operating Expenses and Depreciation and Amortization in 2015. There was no impact in total operating expenses or profit before tax.
     
    The following table presents financial information of the total assets and liabilities by operating segment:
     
    For the year ended December 31, 2017
    In millions of COP
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    banking
     Brokerage
     Off shore
    All other
    segments
    Total before
    eliminations
    Adjustments for
    consolidation
    Total after
    eliminations
    Total assets
    142,207,844
    28,119,504
    12,978,363
    12,191,869
    493,078
    1,423,883
    283,171
    16,503,973
    8,767,762
     222,969,447
    (19,061,236)
    203,908,211
    Total liabilities
     (125,534,492)
    (25,040,470)
    (11,318,266)
    (10,847,895)
    (80,904)
    (48,192)
    (56,789)
    (12,284,687)
    (2,300,511)
     (187,512,206)
    8,033,545
    (179,478,661)
     
     
     
     
     
     
     
     
     
     
     
     
     
    For the year ended December 31, 2016
    In millions of COP
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    banking
    Brokerage
     Off shore
    All other
    segments
    Total before
    eliminations
    Adjustments for
    consolidation
    Total after
    eliminations
    Total assets
    133,756,071
    27,224,292
    12,967,451
    11,795,358
    412,350
    1,462,616
    289,563
    18,169,041
    8,392,706
    214,469,448
    (18,208,404)
    196,261,044
    Total liabilities
    (117,840,080)
    (24,525,160)
    (11,278,967)
    (10,477,427)
    (74,729)
    (119,090)
    (51,937)
    (14,462,907)
    (2,145,663)
    (180,975,960)
    7,191,896
    (173,784,064)
     
    The following table presents financial information of the investments in associates and joint ventures by operating segment:
     
    For the year ended December 31, 2017(1)
     
    Banking
    Colombia
    Banking El
    Salvador
    Trust
    Investment
     banking
    All other
    segments
    Total
    In millions of COP
    Investments in associates and joint ventures
    305,187
    10,532
    226,761
    248,156
    774,423
    1,565,059
    Equity method
    45,976
    316
    34,921
    21,724
    150,665
    253,602
     
    (1)
    As of December 31, 2017, Banking Panama, Banking Guatemala, Brokerage and off shore did not have investments in associates and joint ventures.
     
    For the year ended December 31, 2016(1)
     
    Banking
    Colombia
    Banking El
    Salvador
    Trust
    Investment
    banking
    All other
    segments
    Total
    In millions of COP
    Investments in associates and joint ventures
    284,516
    9,888
    208,963
    361,079
    433,800
    1,298,246
    Equity method
    34,425
    702
    26,128
    (3,923)
    2,922
    60,254
       
    (1)
    As of December 31, 2016, Banking Panama, Banking Guatemala, Brokerage and off shore did not have investments in associates and joint ventures.
     
    For additional information related to investment in associates and joint ventures, see Note 7 Investments in associates and joint ventures.
     
    The following table presents material non-cash items other than depreciation and amortization by segment:
     
    For the year ended December 31, 2017
     
    Banking
    Colombia
    Banking
    Panamá
    Banking
    El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    Banking
    Brokerage
    Off
    shore
    All other
    segments
    Total
    In millions of COP
    Restructured loans that were transferred to foreclosed assets
    163,274
    39,486
    16,191
    7,157
    -
    -
    -
    -
    24,030
    250,138
    Provisions
    3,422,531
    165,651
    162,877
    138,297
    548
    (467)
    147
    (4,449)
    (5,576)
    3,879,559
     
    For the year ended December 31, 2016
     
    Banking
    Colombia
    Banking
    Panamá
    Banking El
    Salvador
    Banking
    Guatemala
    Trust
    Investment
    Banking
    Brokerage
    Off
    shore
    All other
    segments
    Total
    In millions of COP
    Restructured loans that were transferred to foreclosed assets
    130,892
    44,484
    35,466
    95,891
    -
    -
    -
    -
    97,452
    404,185
    Provisions
    2,130,261
    381,531
    104,864
    127,370
    164
    423
    (34)
    48,977
    5,565
    2,799,121
     
     
    For the year ended December 31, 2015
     
    Banking
    Colombia
    Banking
    Panama
    Banking El
    Salvador
    Trust
    Off shore
    All other
    segments
    Total
    In millions of COP
    Restructured loans that were transferred to foreclosed assets
    97,456
    8,102
    18,819
     -   
     -   
    60,665
    185,042
    Provisions
    1,921,873
    114,425
    65,037
    3,241
    67,347
    8,536
    2,180,459
     
    Information about products and services
     
    The Bank does not report revenues from external customers for each product and service or each group of similar products and services, because the information is not available and the cost to develop it is excessive.
     
    Geographic information
     
    The following summarizes the Bank’s total interest and valuation and long-lived assets attributable to Colombia and other foreign countries based on the country where the interest and valuation was originated:
     
     
    As of December 31,
    Geographic
    information
    2017
    2016
    2015
    Interest and
    valuation
    Long-lived
    assets(1)
    Interest and
    valuation
    Long-lived
    assets (1)
    Interest and
    valuation
     
    In millions of COP
    Colombia
    13,108,005
    4,353,782
    11,695,937
    4,180,137
    9,335,345
    Panama
    1,986,741
    297,832
    1,898,058
    414,451
    1,470,692
    Puerto Rico
    68,556
    388
    56,519
    551
    43,672
    Peru(2)
    658
    115,840
    15,753
    112,209
    19,810
    El Salvador
    883,538
    280,562
    902,371
    397,065
    729,258
    Costa Rica
    -
    80
    -
    99
    -
    Guatemala
    866,049
    166,662
    870,283
    259,072
    -
    Total
    16,913,547
    5,215,146
    15,438,921
    5,363,584
    11,598,777
    Eliminations and translation adjustment
    (220,667)
    5,999,471
    309,884
    6,075,268
    (329,133)
    Total, net
    16,692,880
    11,214,617
    15,748,805
    11,438,852
    11,269,644
     
    (1)
    Included foreclosed assets presented within other assets in the statement of financial position, premises and equipment, Investment property and goodwill.
    (2)
    Investments in FiduPerú, Arrendamiento Operativo CIB S.A.C. and Capital Investment Safi S.A. are classified as Asset held for sale in Statement of Financial Position. For further information, see Note 12 Assets held for sale and inventories