First Insight 1Q21 – A strong recovery on net income

May 5, 2021 ( Newswire) Bancolombia’s results were positive, surprising our expectations in net income. This was the result of a surprise in the provision expenses which were lower than expected. During the quarter, provisions stood at COP 1.38 tn (-36.75% QoQ). This led the bank to report a net income in the quarter of COP 543 bn (+ 61.52% YoY), and an ROAE of 7.99%.

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