Grupo Aval Acciones Y Valores S.A. | CIK:0001504764 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Grupo Aval Acciones Y Valores S.A. (CIK: 0001504764)
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    • ifrs-full:DisclosureOfAvailableforsaleAssetsExplanatory

    NOTE 8 – AVAILABLE- FOR- SALE FINANCIAL ASSETS
     
    The following is the balance of available-for-sale financial assets at December 31, 2017 and 2016.
     
    December 31, 2017
     
     
     
    Cost
     
     
    Unrealized
     Gain
     
     
    Unrealized
    Losses (*)
     
     
    Fair Value
     
    Available-for-sale securities
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Debt Securities
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In Colombian Pesos
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
    Ps.
    7,855,098
     
     
    Ps.
    68,411
     
     
    Ps.
    (30,955
    )
     
    Ps.
    7,892,554
     
    Securities issued or secured by other Colombian Government entities
     
     
    90,532
     
     
     
    1,566
     
     
     
    (90
    )
     
     
    92,008
     
    Securities issued or secured by other financial entities
     
     
    255,192
     
     
     
    8,643
     
     
     
    (202
    )
     
     
    263,633
     
    Securities issued or secured by Non-financial sector entities
     
     
    2,282
     
     
     
    44
     
     
     
    -
     
     
     
    2,326
     
    Others
     
     
    7,074
     
     
     
    116
     
     
     
    -
     
     
     
    7,190
     
     
     
    Ps.
    8,210,178
     
     
    Ps.
    78,780
     
     
    Ps.
    (31,247
    )
     
    Ps.
    8,257,711
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In foreign currency
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
     
    1,587,359
     
     
     
    9,160
     
     
     
    (4,148
    )
     
     
    1,592,371
     
    Securities issued or secured by other Colombian Government entities
     
     
    565,762
     
     
     
    11,685
     
     
     
    (6,753
    )
     
     
    570,694
     
    Securities issued or secured by Foreign Governments
     
     
    2,113,106
     
     
     
    8,655
     
     
     
    (17,364
    )
     
     
    2,104,397
     
    Securities issued or secured by Central Banks
     
     
    1,359,924
     
     
     
    739
     
     
     
    (3,789
    )
     
     
    1,356,874
     
    Securities issued or secured by other financial entities
     
     
    3,366,119
     
     
     
    3,210
     
     
     
    (14,885
    )
     
     
    3,354,444
     
    Securities issued or secured by Non-financial sector entities (**)
     
     
    345,003
     
     
     
    21,681
     
     
     
    (44,541
    )
     
     
    322,143
     
    Others
     
     
    230,412
     
     
     
    2,710
     
     
     
    (1,629
    )
     
     
    231,493
     
     
     
    Ps.
    9,567,685
     
     
    Ps.
    57,840
     
     
    Ps.
    (93,109
    )
     
    Ps.
    9,532,416
     
    Total Debt Securities
     
    Ps.
    17,777,863
     
     
    Ps.
    136,620
     
     
    Ps.
    (124,356
    )
     
    Ps.
    17,790,127
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Equity Instruments
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In Colombian Pesos
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Corporate Stock
     
    Ps.
    276,452
     
     
    Ps.
    541,520
     
     
    Ps.
    (75
    )
     
    Ps.
    817,897
     
    In foreign currency
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Corporate Stock
     
     
    452
     
     
     
    5,684
     
     
     
    -
     
     
     
    6,136
     
    Total Equity Securities
     
    Ps.
    276,904
     
     
    Ps.
    547,204
     
     
    Ps.
    (75
    )
     
    Ps.
    824,033
     
    Total available-for-sale investments and unrealized gain (loss) in Other Comprehensive Income
     
    Ps.
    18,054,767
     
     
    Ps.
    683,824
     
     
    Ps.
    (124,431
    )
     
    Ps.
    18,614,160
     
     
    (*)
    Unrealized losses correspond to changes in fair value that reflect market conditions such as variations in interest rates and other economic conditions from the country where the investment is issued. After Grupo Aval objectively evaluated each securities’ issuer, it was concluded that only the securities from two issuers were classified as impaired and realized the impairment in statement of profit or loss as explained in below (**).
     
    (**)
    Cost is net of Ps. 71,708 for impairment recognized in statement of income as operating expense for the securities issued by OI S.A. and Telemar Norte Leste S.A., after OI S.A. and subsidiaries filed for bankruptcy protection on June, 2016.
     
    December 31, 2016
     
     
     
    Cost
     
     
    Unrealized
    Gain
     
     
    Unrealized
    Losses (*)
     
     
    Fair
    Value
     
    Available-for-sale securities
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Debt Securities
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In Colombian Pesos
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
    Ps.
    9,371,078
     
     
    Ps.
    16,622
     
     
    Ps.
    (183,521
    )
     
    Ps.
    9,204,179
     
    Securities issued or secured by other Colombian Government entities
     
     
    83,582
     
     
     
    386
     
     
     
    (4,533
    )
     
     
    79,435
     
    Securities issued or secured by other financial entities
     
     
    116,683
     
     
     
    4,317
     
     
     
    (205
    )
     
     
    120,795
     
    Securities issued or secured by Non-financial sector entities
     
     
    18,390
     
     
     
    -
     
     
     
    (467
    )
     
     
    17,923
     
    Others
     
     
    15,820
     
     
     
    33
     
     
     
    (1
    )
     
     
    15,852
     
     
     
    Ps.
    9,605,553
     
     
    Ps.
    21,358
     
     
    Ps.
    (188,727
    )
     
    Ps.
    9,438,184
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In foreign currency
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
     
    1,368,836
     
     
     
    7,018
     
     
     
    (4,825
    )
     
     
    1,371,029
     
    Securities issued or secured by other Colombian Government entities
     
     
    496,223
     
     
     
    1,843
     
     
     
    (8,189
    )
     
     
    489,877
     
    Securities issued or secured by Foreign Governments
     
     
    2,082,953
     
     
     
    13,400
     
     
     
    (13,008
    )
     
     
    2,083,345
     
    Securities issued or secured by Central Banks
     
     
    539,393
     
     
     
    596
     
     
     
    (1,258
    )
     
     
    538,731
     
    Securities issued or secured by other financial entities
     
     
    2,978,145
     
     
     
    6,045
     
     
     
    (28,266
    )
     
     
    2,955,924
     
    Securities issued or secured by Non-financial sector entities (**)
     
     
    658,703
     
     
     
    10,779
     
     
     
    (88,692
    )
     
     
    580,790
     
    Others
     
     
    205,143
     
     
     
    1,486
     
     
     
    (1,776
    )
     
     
    204,853
     
     
     
    Ps.
    8,329,396
     
     
    Ps.
    41,167
     
     
    Ps.
    (146,014
    )
     
    Ps.
    8,224,549
     
    Total Debt Securities
     
    Ps.
    17,934,949
     
     
    Ps.
    62,525
     
     
    Ps.
    (334,741
    )
     
    Ps.
    17,662,733
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Equity Instruments
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In Colombian Pesos
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Corporate Stock
     
    Ps.
    239,502
     
     
    Ps.
    485,935
     
     
    Ps.
    (82
    )
     
    Ps.
    725,355
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    In foreign currency
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Corporate Stock
     
     
    393
     
     
     
    4,031
     
     
     
    -
     
     
     
    4,424
     
    Total Equity Securities
     
    Ps.
    239,895
     
     
    Ps.
    489,966
     
     
    Ps.
    (82
    )
     
    Ps.
    729,779
     
    Total investments available-for-sale and unrealized gain (loss) in Other comprehensive income
     
    Ps.
    18,174,844
     
     
    Ps.
    552,491
     
     
    Ps.
    (334,823
    )
     
    Ps.
    18,392,512
     
     
    (*)
    Unrealized losses correspond to changes in fair value that reflect market conditions such as variations in interest rates and other economic conditions from the country where the investment is issued. After Grupo Aval objectively evaluated each securities’ issuer, it was concluded that only the securities from one issuer were classified as impaired.
     
    (**)
    Cost is net of Ps. 72,110 for impairment recognized in statement of income in impairment loss on financial asset line from the debt investment securities issued by OI S.A. and Telemar Norte Leste S.A., after OI S.A. and subsidiaries which filed for bankruptcy protection on June, 2016.
     
    The details of available-for-sale equity instruments as of December 31, 2017 and 2016 are as follows.
     
    Entity (*)
     
    December 31,
    2017
     
     
    December 31,
    2016
     
    Empresa de Energia de Bogota S.A. E.S.P.
     
    Ps.
    659,208
     
     
    Ps.
    592,142
     
    Gas Natural S.A. ESP
     
     
    49,998
     
     
     
    74,624
     
    Mineros S.A.
     
     
    56,546
     
     
     
    42,913
     
    Bolsa de Valores de Colombia S.A.
     
     
    52,064
     
     
     
    15,603
     
    Master Card
     
     
    5,634
     
     
     
    3,874
     
    Others
     
     
    583
     
     
     
    623
     
    Total
     
    Ps.
    824,033
     
     
    Ps.
    729,779
     
     
    (*) These investments in equity securities have been designated as available-for-sale sale taking into account that they represent strategic investments for Grupo Aval and therefore, they are not expected to be sold in a foreseeable future.
     
    The following is a list of available-for-sale debt securities that are being used as collateral in repo operations, pledged as collateral in transactions with financial instruments, or pledged to third parties as collateral to secure financial obligations with other banks (See note 21).
     
     
     
    December 31,
     2017
     
     
    December 31,
    2016
     
    Pledged as collateral in money market operations
     
     
     
     
     
     
     
     
    Securities issued or secured by Foreign Governments
     
    Ps.
    148,816
     
     
    Ps.
    299,560
     
    Securities issued or secured by Colombian Government
     
     
    2,215,568
     
     
     
    4,174,184
     
    Securities issued or secured by Non-financial sector entities
     
     
    -
     
     
     
    3,020
     
    Securities issued or secured by other Colombian Government entities
     
     
    133,701
     
     
     
    83,076
     
    Securities issued or secured by other financial entities
     
     
    38,536
     
     
     
    35,809
     
    Others
     
     
    50,273
     
     
     
    39,335
     
     
     
    Ps.
    2,586,894
     
     
    Ps.
    4,634,984
     
    Pledged as collateral in operations with derivative instruments
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
     
    77,736
     
     
     
    151,343
     
     
     
    Ps.
    77,736
     
     
    Ps.
    151,343
     
    Pledged as collateral to special entities such as CRCC, BR and BVC (*)
     
     
     
     
     
     
     
     
    Securities issued or secured by Colombian Government
     
     
    291,878
     
     
     
    -
     
     
     
    Ps.
    291,878
     
     
    Ps.
    -
     
    Other collaterals
     
     
     
     
     
     
     
     
    Securities issued or secured by Central Banks
     
    Ps.
    158,951
     
     
    Ps.
    -
     
     
     
     
    158,951
     
     
     
    -
     
     
     
    Ps.
    3,115,459
     
     
    Ps.
    4,786,327
     
     
    (*)
    Cámara de Riesgo Central de Contraparte – CRCC, Banco de la República – BR and Bolsa de Valor es de Colombia – BVC
     
    A summary of the maturity dates of available-for-sale debt securities follows:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
    Fair Value
     
     
     
     
     
     
     
     
    Up to 1 month
     
    Ps.
    495,315
     
     
    Ps.
    881,951
     
    More than 1 month and no more than 3 months
     
     
    601,654
     
     
     
    313,386
     
    More than 3 months and no more than 1 year
     
     
    2,236,367
     
     
     
    2,204,219
     
    More than 1 year and no more than 5 years
     
     
    11,436,614
     
     
     
    9,544,836
     
    More than 5 years and no more than 10 years
     
     
    2,792,063
     
     
     
    4,345,791
     
    More than 10 years
     
     
    228,114
     
     
     
    372,550
     
     
     
    Ps.
    17,790,127
     
     
    Ps.
    17,662,733
     
     
     
     
     
     
     
     
     
     
    Cost
     
     
     
     
     
     
     
     
    Up to 1 month
     
    Ps.
    495,284
     
     
    Ps.
    880,907
     
    More than 1 month and no more than 3 months
     
     
    601,156
     
     
     
    313,048
     
    More than 3 months and no more than 1 year
     
     
    2,235,214
     
     
     
    2,199,014
     
    More than 1 year and no more than 5 years
     
     
    11,437,189
     
     
     
    9,669,504
     
    More than 5 years and no more than 10 years
     
     
    2,768,870
     
     
     
    4,483,043
     
    More than 10 years
     
     
    240,140
     
     
     
    389,433
     
     
     
    Ps.
    17,777,853
     
     
    Ps.
    17,934,949