Q4 2024 Banco Davivienda SA Earnings Call Transcript
Key Points
- Banco Davivienda SA (BOG:PFDAVVNDA) reported a 7% annual increase in its loan portfolio, driven by strong performance in commercial and mortgage books.
- The bank's net interest margin improved to 5.65%, supported by effective liabilities pricing and interest rate risk strategies.
- Digital transformation efforts have been successful, with a 13% increase in mobile accounts and a 30% rise in mobile term deposits.
- The bank's sustainable loan portfolio more than doubled over the past five years, reaching COP 24.7 trillion by the end of 2024.
- Banco Davivienda SA (BOG:PFDAVVNDA) is included in the Dow Jones Sustainability Index and the S&P Global Sustainability Year, highlighting its commitment to ESG practices.
- The bank reported a loss of $28 million for the full year 2024, missing its ROE guidance of 0% to 2%.
- The net interest margin recovery is slower than expected due to regulatory changes affecting consumer loan cap rates.
- The Colombian peso depreciated by 15% annually, impacting the bank's financial performance.
- Banco Davivienda SA (BOG:PFDAVVNDA) will not pay dividends this year due to the reported loss and the upcoming Scotiabank transaction.
- The consumer segment contracted by nearly 8% annually, reflecting conservative lending and low demand amid challenging economic conditions.
Welcome to Davivienda's fourth quarter of 2024 Earnings Conference Call. I'm Karen and I'll be your operator for today's call. Today's presentation is for investors and analysts only. Therefore, questions from the media will not be addressed.
Today, Mr. Javier Suarez, Chief Executive Officer; and Mr. Ãlvaro Cobo, Chief Risk Officer, will join us to discuss the quarterly results that have been released. If you have not yet received a copy of the earnings report and presentation please visit Davivienda's Investor kit or the Financial Information section at irdavivienda.com. (Operator Instructions)
Before proceeding, let me mention that any forward-looking statements are being made under the safe harbor provided by the Securities Litigation Reform Act of 1995. Actual performance could differ materially from anticipated in any forward-looking statement due to macroeconomic conditions, market risks and other factors beyond our control.
I am now pleased to turn the call over to Mr. Javier Suarez, Chief Executive Officer. Mr. Suarez, the floor is yours.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
