Q3 2024 Grupo Aval Acciones y Valores SA Earnings Call Transcript

Nov 14, 2024 / 02:00 PM GMT

Release Date Price: COP445 (+3.49%)

Transcript

Key Points

Positve

Grupo Aval Acciones y Valores SA (AVAL) reported a return on average equity of 9.7%, comparable to levels from the third quarter of 2022.
The company continues to gain market share while growing at a prudent rate, with its banking segment returning to net income levels similar to late 2022.
Grupo Aval's sustainable portfolio has strengthened, reaching 17.3 trillion pesos, supporting various sustainable initiatives.
The company improved its score in the Dow Jones Sustainability Index, placing in the 90th percentile, reflecting advancements in environmental, social, and governance dimensions.
Grupo Aval's financial system remains solid, with improvements in cost of risk and asset quality, particularly in consumer loans and mortgages.

Negative

Loan growth remains subdued, with growth still in negative territory in real terms, and margins under pressure due to regulatory and monetary policy challenges.
The fiscal situation in Colombia poses challenges, with taxation underperforming government estimates, necessitating deeper spending cuts.
The commercial loan segment is lagging behind the consumer segment in recovery, with certain sectors still facing macroeconomic pressures.
Grupo Aval's non-financial sector income contracted due to concessions transitioning from construction to operation phases.
The Colombian financial system faces regulatory pressures such as changes in interest rate caps, affecting consumer loans and high liquidity and solvency requirements.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GAA.CN - Grupo Aval Acciones y Valores SA
Q3 2024 Grupo Aval Acciones y Valores SA Earnings Call
Nov 14, 2024 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Grupo Aval's third quarter, 2024 consolidated results conference call. My name is Regina and I will be your operator for today's call Grupo Aval, Aiona Ibas.

Grupo Aval is an issuer of securities in Colombia and in the United States SEC as such, it is subject to compliance with securities regulation in Colombia and applicable us securities regulation group. Aval is also subject to the inspection and supervision of the superintendency of finance as holding company of the Aval Financial Conglomerate.

The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the Iasb unconsolidated financial information of our

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