$CIB · Grupo Cibest S.A.
Grupo Cibest reported 3Q26 results: net income attributable to shareholders of COP 2.08 trillion, down 23.81% QoQ and 2.97% YoY. Net interest income fell 4.88% QoQ to COP 5.74 trillion, with NIM at 7.43% (down 51bps QoQ). Net loan loss provisions rose 16.77% QoQ to COP 1.19 trillion, driven by credit-card and UVR-mortgage deterioration. The quarter also reflected the completed USD 1.418 billion Banistmo sale and Nequi's launch as an independent financing company.
- Net income fell 23.81% QoQ to COP 2.08 trillion, down 2.97% YoY.
- Net interest margin dropped 51bps QoQ to 7.43%; net interest income fell 4.88% to COP 5.74 trillion.
- Net loan loss provisions rose 16.77% QoQ to COP 1.19 trillion; cost of credit 1.80%.
- Gross loan portfolio grew 4.31% QoQ to COP 274 trillion; deposits up 1.47% to COP 275 trillion.
- Completed Banistmo sale for USD 1.418 billion; Nequi began independent operations Sept 1, 2026.
Extended-hours last trade $94.55, down 0.38% vs regular close and 0.32% vs price at filing, a muted reaction to the QoQ earnings decline.
A sharp QoQ profit decline driven by rising credit costs and margin compression signals near-term earnings pressure despite strong loan growth.
Colombian banking results reflect rising funding costs (cost of deposits up 10bps to 4.50%) and higher benchmark rates pressuring margins, offset by broad loan growth.
Deterioration in credit-card and UVR-denominated mortgage portfolios drove higher provisions; one-off provisioning hit commercial clients in agricultural export, construction, and manufacturing sectors.